REGISTERED CHARITY NUMBEK. $2S414 i¥ D. Coxry and Co. Limi arwj Siawtory AuditOTS 25 Grosvenor Rowj LLI I IBT
Ii¥d Page Rw oftheTnJAe¢s Re ofthe Indyntht AuditLYS 9 to 11 Statcment of Financial Aciivilies 12 Balance Shert 13 Notcsto the Financial Statements 14 to 23 Ddailed Statement of FinarKial Acuviti¢s 24 to 25
The irustees prtsen¢ iheir rwrt with Ihe financial 8t8lemen15 of ihe charity for ihe year end¢d 31st Deecrnbcr 2024. The twlees hNve lldopled ihc provision$ of Accounlin8 and Reporting by Chariiics.. Sial¢meni of Recornmended Pracmce applicable io charitie5 preparing Ihcir occounis in accoanCe with the Fingncial Reporting Standard applicable in the UK and Republic ofiTel&nd (FRS 102) leffectiv¢ l January 20191. DdAils of Appointment& Tesignaiions and T'TeMents are included wthin (he b(Nly ofthe aonts OWECTIVES AND ACTtvrriES Objettlyes and The obje¢ts of the Foundaiion pre set out in ihe Scheme datd 14th October 2003 and are. in brief . (a) to advance e<lu¢ation by providing assi5tan¢e lo at)y stale or charitsbl¢ sehwl or collc8c in the County Borough of WTeKham prowding educaiion lo Children and young people up to ihe age of 18, in which rdtgious instnjaion is given that 1$ consisient with Ihe docfftnes of ihe Church in Wales. (b) if the in¢orne of the Foundation Cannot be applied. &5 Stated above, it may be appli in advancin8 th¢ thlon of the beneficiarie& in some or all of the following w&y5-. i. in awarding 5cholarship5. exhibitions. bursaric5 or maintcnan¢e allowances tenabl¢ at any schwl, university or other educational esiablishment approved by the trustCC5; ii. in Providing financial a5Si2nce, outfits, clothin8. tools instruments or books to such persons on leaving school. university or othcr educaiional ¢ablishmcnt10 prq)aT¢ them for. or assi their eotry into. a IAdc.' iii. in awarding grants or maintenance a]lowan¢es to C[1¢ them to iravel, whether in the U.L or abroad. in fUrthernCe of their education. iv. ITr oihenvise furthering their cducation. The new Scheme was creattd to r¢fixt the Foundation's willOn and commithicnt in meding the needs of the dwiging cvilT¢nl. Within these objttts the Foundatioti's aim is to advdnc¢ education by promding &s5ks#ance to the educationa] ¢stablishments and individuais as rcferrcd to above. SlgllifJt8nt actitt¢S Th¢ focus n¢t 2012 Wd5 the development of the Centre foT Religious Educarion and Faith Development at St Gil Church and this conlinued during 2024. Social inv¢stments Principal activitics in the year were the making of grant5 in accordatLe¢ with the Scheme and to the C¢ntre for Religic Educaiion and Faith Dcvelopment at St. Giles, chh. Gr4ntmakln8 In ord¢r to advance education by Providing assistance 10 many educational establishments as possible. Ihc tNSttts arc funding the appointments of thc staff of ¢he Centre for Religious Education ad Faith Development at St Gilel Churc an Anglican chaplain to Si. Joseph'5 Catholic and Anglican High School, contributitjg io a third of the c05t of Ihe chaplain to Coleg Cambria and nTribUting to s/0 of the salaTi¢S of two Church Arniy Evangelists in th¢ Wrexham Mission Asea. The Foundation iThvhtes applications from the GovemoTS of Brymbo and Minerd Voluntary Aided S¢hfy)Is, St. Gil¢s' Voluntsry Q)ntrolled School and St. Joseph'5 Catholic and Anglican High School (the four Foundaiion schoo151 for the fiJnding of maintenance costs necessary for them to meet Iheir obligations under th¢ Edu¢aiTon Acts. in 2018. the tte$ agr¢¢d lo widen the scope of the charity by supportin8 Other Church in Wales Schools and schools in Wr¢xham County Borough where Religiou5 Educaiion is deiivered consistent with the doctrines of the Church in Wales. The F¢)undation a]50 invites individuals who are forncr pupi15 of the Foundation schools and are under Iweniy-fiv¢ years of age to apply for fjtwieiai assistance lo promote educaiion by awarding mon¢y$ foT 5cholarthips. clothin& book4 equipment de. Page I
ACHIEVENlEs AND PERFORMANCE Ch•rli•ble aefliltl During Ihe c¢xJrY of the year the trustees miewed their work and as in previojy yearn wttd to 8ive priority funding to th¢ projttis in Rcligious EthECatiLM wiihin ihc Wrexham County Borough area ih were innovative arsd re5rdh b&%ed. li was expected thaL whenever psIbl< rw work Wld ielate 10 Ihc R E Ccnlr¢ in order to creat¢ a community of research¢rs and Prnclilioners in ReligiJ$ Eduulion Faiih Developmeni. The (ru¢¢$ agrced lh the charity w(vJld w u8ually fvnd ihe work of oryanisaiions whue ihose or8anisaiiofts mighi b¢ rcasonknly expedvj 10 undertak¢ the work themselves. As referffd to above, the fuThJin8 of the Ctntte for RcliBifrtL3 Education ond Faith Developm¢nL including th¢ Director5 salaries and the paym¢ni of fees. again bc¢n ihe bJe of c£51der&I0n by the bwAees. The costs of thw iiemj will be ¢Len in (he Annual accounts. During theperitsj of this Try, Ihe ThJ#ees WltA to pmvide FtyJnthkN, church ond ¥xherLA h0o[%. GrBnt5 to fornier Sbjdcnts of Foundation h[S #MnIed to £37,480 Ihe apprryriale grants were approv•J. The overall wiouni award¢d will be on an annual basis dqKThdeni on the number of applicant5. The Foundation coniinued to Pr101¢ ih¢ WoTal cart of sdeThts by SlLPPQrtin8 fully the chaplain Si Joseph Catholic and Anglican High S¢hool and. in partnership with Coleg cam1& and Ihe Di(tes¢ of Si As4)h, Ihe chapl3in #t Ye College. now part of Cole8 C*nbri# and fifiy perecrf of the sllvies of 2 EvangeliAs from ih¢ Church Arnjy. These salaries amountcd 10 £201.138.. Investment ptrforniln The inveymeni of the pIDe endowment fund ciffltinues th¢ #¢w8rtship of Rath)rte Investhent Mana8emeni Limited and Ihe perforniance of the inve5nnenty in the yeaf of this r4 has bttn excellent and 15 in line with the objK¢iv¢5 Pt¢viously s¢t. The FoundatLon5 adviscr. Juliart Raihbone. of Pathbone InveJtm¢nt Ml8¢M¢t Limited at the invitstion of the Inj¢¢& will attend ihe me£tin85 when necessary.
FINANCIAL REVIEW Inve5tmtnt pollcy ind objettiv R8thbone Invtstrneni Management Lid been 8uih0ri5cd by ihe Irustec5 to undcrtake manaBan¢nt of th¢ Foundation's Endowment Fuftd under ihc iernis of the Signed rnanagemeni agreernent. The clerk been wihorised liaise wth thbones in connection with this fjjnd. Art invellrneni policy is r¢%iewed annually. ObjectiV¢5'. l. To a¢hieve a balanced Murn frorn income ond capitsl gr0h while accepting a modeme degree of risk. 2. To maintain th¢ real value of income in orderto be even h#nded between preseni and fvture beneficiari 3. To lai8et income levels a5 relayed by tru51ttS. 4. To mainiain the Ttal value of c4)itil in OTd¢r io achi¢v¢ 2 to pote*)liilly facilitate P¢Tiodi¢ capithl withdrawals. Benchma$. As5d classes will be monitored in Perfo8¢¢ teThs by reference to appropriate bcnchmaths. Asgct class UK Equilies Over5ea EquitLe5 Fixed Inttr & Cash Propety Hrylge Fund5 Benchmark FfsE All Share FfsE World ex UK SE UK Gilts FTSE Real E5tat¢ APCIMS Hedge Funts Risk Profile The tn]stees Tecognise the risks associaled wih invesirnent in mainstream financial markets and accept this risk in reDJrn for ihe prospect of additional returns over longer periods of time. As such. they wish to remain largely invc5tcd at all timcs, subjeci to cash reserves being held as part Of thc investtnent management process and covcr liabiliiies. The investtnents of the should bc wdl divetsified and include a range of in¢luding fixul inierest st(ks, UK shares, overseas shares and aiiernative invesitncnts. UK Equities: Genclaily, exposur¢ to UK equities will Fg via dir( tnv¢s¢ment& although speetfic areas of markct cg (smatlcr companies) may be represented by colleciive Th overs EquitÉes: Exposure to b¢ a¢hi¢ved through a mixtyre of colltttives and dIt equities. Fixed InTere. When investing directly in corporate bonds (Is opposed to through Colltivcsj. then only investmeTht grade CQTPOt2te bonds may be purchasol. RestTiCtions: A maxhmum of 5/0 is to be held in any individual quity. How¢ver, thete is a degree of flexibility with any holdiDgs exceeding 5¢A bcing reviewa each qttarter. Thi5 policy #atement will be revi¢wed on art annual basis. Reserves poII¢y As eXplned abov¢, the Charity carries oui a variety of both long and short-temi initiatives. The trusttt5 have examined the requirement for frec reserves which are those unre5tricled fijnds, EJOI inv¢sl¢d in fixed asset5. designed for specific purposes or otherwise committed. The trustees conSLdeT that. given the nature of their wotk. thi5 should b¢ approxirnaiely £63.000 which gives flexibility to cover temwrary liming diffeTen¢es for grant claim5, adequatc working rapiial for core Costs and allows for unforeseen 5jtuations where imm¢dia¢¢ fund5 aT¢ required. As at 3151 December 2024, the level of thcse free Teserves was in the 810 of £255.000. Page 3
FiryURE PLANS Futu plans of the Foundjlion are lo continue 10 operdle in accordance with the Scheme by lOwIng for fiJrth¢r eXnlOn of its objeciive8. An option &gT¢ement ha8 been signed by Barratl's wlieiiof5 to pywha5c the land mcnlioncd in iht 2015 rtport. An applieaiion was submiiied lo Ihe LcK81 Authority but was refused. At the lime of thi5 [crt, Ihe dev¢lopers have lod8td an 8ppeai wilh the Wclsh Governmeni iher¢ is an ongoing issue with the council the L1 D¢velopmcni Plan. There is Still no further news on th¢ D¢W Church School in Brymbo other ihan ihe land has been agreed with the Authority and BrymbD land Developments. Thc attticipoted corrsmencemenl for the build of 2021 has not bt¢n realised. The TNstees 11 continue 10 5UPPOrt the Church Arniy and th¢ Wrexh3m Centre of Missiijn in res of the Iwo Evangeli$ )d the Tin Can y¢(h centre until Scptcmber 2026.. 5TRucfuRE, GOVEIVIAIYCE AND MANAGEMEr Goyermng document The Charity which is an UnincooNed body was constiluted under a Schem¢ ded 14th (ktober 2(M)3 and 15 registeraj with ihe Charity Cornrnission under Charity numbcr 525414. The truees. execulive officer. addresses and profc5SiQt advisers are given on page six. RecTUitmeNt ind 8ppoIDtment of trustets Any trustee i5 Inwl io nominate a new potential Co-opted Trustee who is pet50nally known and rry¢)mm¢ndal by thern, where a vacartey exists. Such appointments arc made at Special mcctings of th¢TTUattS. The nominated pe rnu be a perniitted person as deflned by the Charities Act atjd of the relevani skill or knowledge to FLnefLt the Foundation. Tru5tecs are personlY responsible for MaInlning thcir 5ki11s or knowltyjge 10 a reasonable current standanl. OrgaulStE0ll struCre The Governing FK>dy of the Charity are the trnsw the names of whom are shown on wage six. The compositlOD of the trullets was amended in 2020 to reflect that there is now no vicar of Brymbo. The amendment was agreed by the tDJStees at a Vial meethn8 in June, and l(dged with the Chasity Commission after the Novmber meeting. The new eotnp05ition i5= FourEx-officioTru5tee5 One appointed Truee (appointed by thetru5ttts) who will be a vicarof a church wiihin the Cow)ty Borough of WFexham but tLOt a memt¢rof the Mission aTW of Wrexham and Aiytt. F¢)ur Nominated Trnst¢¢s Four co.op1 Tnistees Various pr(xedures and tasks arc delegatoj to ihe chaian and the Clcrk of the Trn*ee5. details of whom are also shown on page six. The truslees are legally rc5ponsible for the ov¢rall management and corfrol of the FouThdation and meet a minimum of four limes a year. The w(>Tk of implementing most tsf their policies is delegated to ihe Chaim)an. The R¢verend Jonathan Smith and the Clerk to the Tnjstecs. Induction and training of trn$tee5 On appointment. a newly elecied In]stee must immediately submit written notificatiotl to the Foundation that Ih¢y hav< Is a minitnum, rcad undersio(Mi and accepied the dutics and rcspon5ibililic5 of a Ilustee as ouilincd in ihe Charity Commission booWet CC3. Th¢ Essential TNstee: What you need lo know. With regard io thc training of tn1#tt5 under the provisions of the Charities Act 2011. a]1 lrnstee5 are made awate of the latest developmcnls in Ch&ity Legislation. a5 well as any area8 speeifLC to their individuals needs. Pagc4
sTRUURE, GOVERNANCE AND MANAGEME Rl$k man•gemtD¢ Th¢ in1£¢S are responble forth¢ man&geml ofihe risks facal by the Found4tion. A fonnd miew of ihe FoUnd10n,5 risk man48¢ment prncesses is undertaken on an annual b&8ii. The k¢y Conirols used by th¢ ChNrily include.. Fornial agendas for &ll trust¢e meetings Established organisaiional ruciUr¢ and lin¢s of reporting Fornial wriiien policiu and guidance A cle4r auihorisation and approvai level Vthing proceduTe5 as qUIred by law forthe Protection ofthe vulncrable The TrYe¢s, Investhient Policy is being revi¢wed annually and a represenlatiye of thbot5 attcnds a trustees, meding where appropriate. Whilst iht truceS have uscd thcir best endrdvours 10 identify and monitor all major risk& it is rttognisoj thai systems and pr(edureS wi only prowde rca50nable but not absolute &qsurance that the major risks have been adequately managed. Frnud pollry s¢•tement The tNstees have identified pot¢Dtsal areas fordcfraudmen¢ and hav¢ taken steps to addre55 this. PTiniouls of all online transaciions bctween TTuslees' mcetings are forwarded lo them with all merfing inforrnatÉon 10 days before each meeting. The Clerk and onc of the other co-signatories sign ¢heque$. although this mdhod of payment is usoj very Énfrequently. Ail monics paid Qui a accountcd for in an appropriate way. Re¢cipLS are kepi for all purchases. CoDfiict of iDterest polscy The trustees have implem¢nted a conflict of intcrcst poliq and all such conflicts are dttlared at cach meeting &$ )ropri*¢. Pag¢ S
EIIUCdTIQNALEQUUD&uori srRucfuRL GOVERNANCE AND MANAGEM Publlc Benefit SIAl¢nltni The Foundaiion 1$ An cduuiiol Chry. IL8 princip chlritsble ¢A)jeaiv¢s ale to &lvancc cducatioft by providing ssi%t&nce Io ils schcM)Is advancing ihe cduc8licm of its bcnefJ¢iari¢s by th¢ award of scholarship5 dc. financial 8isl8n¢e, gTaThis and other qypri)prialc means. li wnsidu5 ils obligaiions to mttt ihe public bcncfit requirement when Considering ihe expenditure of lis in¢om¢ in x¢ordan¢e wilh its objects. Charity Commission guidancc on ihe ways in which ¢han"tie5 mighi advance educthion for public benefii include Ihe pmMsion of eduCa¢tc2J scNce4 Ihe prtsNi%ion of supwrL the p]0n of knowledge and raisin8 of Sndar and the granl of mLMey is 9)ughL where necessary. The Tevised plan approved in Swemb¢r 2020 for the Si Gile5 Centre for Religityjs Education and Faiih Developrnt 19 WOTkin8 well and lis web-based ¢ontinu¢s to be uiilized and has been recogThiscd n&10nlY and iniemationajly. The cditorsar¢ iThviied to address the Tte$annuallY or forward #rqx>rt annulY as appmpriate. The Foundati - continued to prowde assistsnce to lis xhools by award of grants f¢x the Puh of 5crviccs and equipment by bmitting applicaiions before meeting& Thc5c are discussed by the Trudtt5 with the dlsionS Ing minut. . continued to support 8fdnis io former students of the foUrFoUndi Schools - sllpported applications from all Church in Wales S¢hwls in the Cwnty BortyJgh of WTcxham - supptsrtcd th¢ WO of the ReliOu$ Education arKI Faith Centyt by the cmploymenl of its two dI[tc orte of whorn is its Rescdreh and Developm[ Officer. thc th a Reli($ Eduotion and PpOrt advisor5 to schoo]s. by payin8 the running costs of the Ceotye. - supported the ongoing WOTk with by the Amjy Evangeligs by contributing to their salaries and payang hl and utility costs for theTin Can Youth Centrc. The Evangelis Pvide thc Tru5tCC5 with an annu31 r4. - 511PPOrted The Explore Science Th"scovery Ccntre with an anntsal rn of £lO.(MX). The trus are l$fied that thc public benefit Iwiiiiement is ixlt will c4yDiinue have regard to th rwuiremeni when exercisirtg theirpower5. Rytered Cbrlty 525414 Prittcipd #ddress College House I TcTnple Row LL13 8LY Trustees The Reverend Helen Barnc5- apw)int¢d May 2025 The Reverend Dcaor Jn Brny. resi Au8USt 2024 Councillor Gary Brown Janet Mary Cat)non Veriry Clare Dean Carol Ann Douglas-Jones- appointed June 2025 The Reverend Susan HUOn- resignoj Scplcmtr*r 2024 The Reverend Dylan Caradog PaThy Jone5. appoirt June 2025 The Vencrnble D(Klor Hayley Mathews Sylvia V Parting¢on- resigned March 2025 The Reverend Marcu5 Gwynne Pipe- aPInd May 2025 The Reverend Jonathan Smith- resigned Scwemixr 2025 The Reverend Robcrt James T(yJt- appOind May 2025 Councillor Phil Wynn David Anihony Williams- resigned May 2025 Susan William5
EQV.CATJQNAI. I OUNDATIQU RF.FERENCE AND ADMINISTRATIVE DEfAI Aiidlio M. D. Coxey Ind Co. Lirniied Ch&rterd Accounionis and Siaiuiory Audilors 25 GTosvenor Rowl Wrexham LLII IBT nk¢ NatlODal WrnInr pk 33. Lord Stre Wrexham LLII ILP SDlitliors Allington Hughe5 Soli¢it(rfs (IKolWrfati David SpAldin8) 2 Vicars Lane Chtyer CHI IQX IvestMent Mllna8erJ R8¢hbone Invmen[ Mknagemffit Port of LiveTpooI Building Pitt Head Liverpeol L3 INW Clerk to Tnute Aiison Breadon STATEME OF TRUSTEES, RESPONSIBILrriES The truMe¢s are responsibl¢ for preparing ihe Report of ihe Tne£S and the finan¢iaJ Aatemenis in aceordanee with 4)plicable law and UhitrAI Kin8dTr A¢eouMin¥ Siandards (UnitJ ngdoM Genernlly Ac¢eptoJ Ac¢ounting Praai¢e). CILarity law r¢quire5 the Injstees ¢0 prcpwe financial 5tments for exh firbancial ytsr. Uttder that law. the ¢Nsttts have elect ¢0 prepare Ihe financial emen15 in xcordance with United Kingdcrfn GeThernlly Ac¢epled Accounting Fralee (Uni¢ed ngdoM Aceouniing Sthndards and applitrdble law). Undtt charity law ihe trude must nc4 approve financial ststements unless Ihry are saii$fLed ihat they 8ive a INe and far view of the sute of affaiT5 of ihe charity and of th¢ incoming re50urccs amd appliwion of rnr¢c5. including the in¢om¢ and expenditur¢, of Ihe Charity fw that rity1. In pr¢parin8 tht financial stmeni& thc trUet$ are requir• select suitable accwtins PI¢le5 and then apply them eoThsintiy: observe ihe mcthods and principles in th¢ Chariiie5 SORP.. make judg¢tncnis and esiima¢es that are reonable and prude¢) prepaTC the financi 5tmcnls on the 8oiThg coneem basis unlw li is irwppw to presume that the Charity will continue it) bu5Lness. The tt¢S are rcsponsible for kttping prrw ¥¢(wnting re¢d$ which dis¢losc with rcasonablc accuracy ai any time the fLnan¢ial position of the charity to enable them io en5UTe ihat the finwcia] stmcnls Comply wi¢h Ihe Charttics Act 2011 The Chariry IAc¢ouns and Reports) Regulations 2(X)8. Thry also responsible for safegudIng Ihe 4S5Ct5 of the charity aNJ hencc f(r taking feasonable *s for the prevention and dcteetion of fraud and other irregularitie5.
REPOQLIlIL]RUsj Approved by cwder of the boArd oftnJAees on 15ih Cktober 2025 wd Sid cffi ils behalf by.. D C P Jones- Tw51ee
]11[ WRL.XUAMIEAlIQUl Oplnlon We havc audiid the financial Maiements of The Wrcxhim Educaiion81 FLndatIOn {Ihc charity) for ihe yur ended 31st December 2024 which compri%e the Stemeni of Financi Activiti¢5. Ihe Balat)ce Sheet and notes ihe financirdl temen18. including a MM of si8nifieani ¢ln(Ing policies. The finATheiAI rqrt1rtg frdmework that h&8 been Jppligj in their preparniion is wli¢4ble l•w Uniled Kingkn Acwiniing Stondarth (Urtita Kingdryn Genernlly Accepted AttouThlin8 Prxii¢e). In our opinion th¢ fina117 stathtrts.. give a true and fair Nicw of ihe of ih¢ eharivs affairs 88 It JIA Dttembtt 2024 and of it5 inci)min8 resiyJrc¢s and Dppli¢aiion of resour¢e& for ihe yearihen ended: ve been prorKAy prepared in aetordance wilh Uniioj Kingthffi CJ¢neraily Accq¢d AntIn¥ Prarfiffj and have been prepared in •C¢L¥dK¢ with ihe Ytquirements of ihe Chwities Act 2011. Bi$ts for oplnloD We conducied our iudit in a¢cordance with InmlOnal &andard5 on Auditing (UK) (ISAS (IJK)) and applicable law. Our rtsyonsibililie5 u[¢T those standards •Te furthtt dtteribtd in ihe Audilorg responsibilities foi the audii of the financial sta¢erneThts seaion of ¢T rtrth. We gre indetndent ofihc chariry in xcordan¢¢ wilh lh¢ ahic41 Tequiremenis that are rele1 lo our audit of the financial &eMen¢5 in the UL including the FRCS Ethical stand and we have fvirilled tsjr other #hi¢al rwn5Lbiliii¢s in Cordnce wilh ihese Tequiruneft We believe lh the audi¢ ¢idenrx we have obtainoj is Sufficient and 3pproprie provide a ba.$ forrylr opini(YL Concluslons rekntlng to golng eoneern In authiing the flnancial st3iemeni& we hav< colded the use of going ¢th¢M basis ofTrtcountin8 in the preparation of th¢ financial statcments is 2ppn¥ri Ba5ol on ihe w¢xk we have rf0Mle4 we have not identified m&uial urttrtnti¢5 re]ing to events or c¢)nditiOnS thaL indiwduaily or tollcctiv¢ly. may Ca significant dcdlkn on the charitys ability to conlinue 1 80in8 eoD¢¢m for period of a¢ le twelve monih5 from when thc fiTWLcI 5tawnents e authorised for issue. Our rtS5]bIlltseS and the TesponsibilLtie£ of the Iru#eu with resp to going ¢4xKan Jr¢ described in thc relevant seaions of ihis report. Oth¢r thforniidoD The truees are responsible for the (rther infwmion. The Lmher inf0mlon comprise5 the infomwtion includal in ihe Annual Repjrt. otherth8n tb¢ fJDwKid swemenis ReiKt of the INlq*ndeni AuditOf5 therryj Our opinion on the financial #aicments doe5 tKJt Ver the dher infomwion except to the ex1 herWISe explicitly &ted in our Trwt. we do nol express any forni of tyuran¢e ¢oThclusion thereon. In lIne10ft with our audii of the firwl/l eMents. our reSPsIbIlity is to read ihe other inforn)ation and in doing so, consider whether thc her inform&ion is materially in¢onsiaeni with the financial alementS or our knowledge obtained in the audit or ¢xherwise Appears to be mwerially mis51ated. If we identify Such material incon5islcncies or apparent material missMement% we ar¢ wuired drtermine whether this gives rise to a material misstatemetti in the financi statements thern5elves. If, based on the work we have tKrforrned we con¢lude ihat iher¢ is a material mi551atcment of thi$ h¢f inforniation, we are requId to rewi that f. We hav¢ nothing to Tcpryt in ihis rewd. Matten on which we rtyulrtd to report by exeeptSoo We have nothing 10 report in res of the following whu¢ ¢h¢ ChaTkties (Aee(yJrts and Reports) Regulations 2008 requireb us to rcpon io if. in our ¢)pinion- it)formation &ven in the Rewt of the TruAttS 15 1wmlS1ent in material respea wilh th¢ financial sthiemcnts: or suffxcient aeeouniin8 re¢ord5 have not W kw.. or the finwi statemenis are not in agreement with the accnting records aTrJ rewffls; L we have not e1Vcd the infomiation and explanations we rtquire for our audit.
IUE WRt.XllhM (EAR£W
Rupon51bllltltJ oftruite
As explained more fully in Ihe stemen1 of Trnlle¢s' Rew5ibilities ihc are responsible fcff the prcparaiion or
the firbBnCi st8lernenis which give a irne ond fair wew. •nd for sych internal ¢onlrol ag lhc detcrrnine is
Tiec¢ss9ry lo eTh•ble the preparnt1 of fina111 5t•tCmth Ire free fftxn m•lerial missthment, whether dye frdud
or QTOr.
In preparing the fin8ncial $thlcmeni% Ihe twsttts or¢ rc5ponsiblc for assessing the chariWs ability to coniinu¢ as a going
concern. (blosIn& As ipplhcabl¢. mBtiers rtlated 10 going con¢em and Ihc goin8 concern basil of accounting
unless the $1$ either intend lo liquid8te the charity or 10 cease (yer4t1L& or have no rtaI11¢ aii¢rnativ¢ but to do
Our rvponslbllltlts for ¢h¢ of th¢ flMnd•l st•temett
We have been aptA)ini¢d &8 audiiors under Seclion 144 of th¢ Clwities Ad 2011 and rep in with the A
and relevant Tegulations rn8de or effeu thereunder.
Our objethiv¢s ue to obthin rtty)Tthle assuTrnc¢ •iwt whdher the finan¢ial sthiemen15 as a whole are fr¢e fvom
malerial miss¢aiemeni. whdher due io fraud or error. and lo issue a Report of the Indepcndeni Auditors that includcs our
opinion. Reasonable aSSUTance 15 a hi8h Icvel Orassurar, is not a 8uarantee that an audil conduaed in xcordance
wilh ISAS (UK} will waYS d¢te¢i 8 material missta¢emeni whcn il cxi51s. Mi55wements can arise from fraud or error
8nd are eon5idered m•erial if. individually Of in the wgate. they cwld re4sorthly b¢ ¢xpeded to influence the
onomic dLs1onS of users iaket) on Ihe basis of thes¢ financiai 4wements.
The extent io which our prrxedurts art capable of ddeaing iffeguluities including fraud is detailed below:
Our approkeh 10 identifyin8 gnd tsse5sin8 the risks of material mis%&¢nI in respe¢l of irre8ularitie5. includin8 frnud
ond non-compliaDce wiih14W5 ond rwlations as foll¢)ws'.
- the engagement partner ensured ihai ihe ¢n8agement team collcctivcly h¥J the appropriale competenee, Lmpabilities
and skill$10 ideniify or re¢o8nise t)on<omplian¢¢ wilh applicable laws and regUl10M$.
- we idenlificd Ihc laws and regulations appli¢able io lh¢ ¢hariry ihrough discu55i¢)n$ wih the InJAees
- w¢ assessed the extent of complian¢e wilh ihe laws and id¢nlified aiw)ve thrtyjgh making enquirie5 of
managemeni and inw¢ing legal corrtspondence. artd
identifted laws and regulaiions were communieated within the audii arn wlarly and the team rm•ined 8iert
iThStan¢es of Thon-compliance ihrcwghoui the audil.
We assessed th¢ susceptibility of ihe ¢harity'S fin1#1 swemthts to mttuiai misAemenu irKluding obthining an
understanding of how fraud mighi occur. by:
- making enquiries of manag¢m¢ni LS whert they considered ther¢ wa5 suwibility lo fraud, their knowledge of
tual. suspeffled 3Thd alleged fraud: and
- considcring the internal conlrols in plac¢ io mili8ate risksof fra and r
[ wJtXFWLLEJR£KLLAL) Use ofour POrt Thi5 repon is made solely the charity's tru5trts a Iy. in rd4Th with Part 4 of the Charilic% (AcwJnts and Rerts) Regulations 2fy)8. QhJT audit Work has bttn Undertak so thai we mighi stale 10 the ¢haritys Iru*¢¢S Ihose mailers we are r¢quiTed lo slai¢ io Ihcm in an auditors. repon and for no other PU05¢. To the fulles( ¢xieni lEted by law. we do noi a¢¢q)l or 5me wsibilily 10 yone her Ihan ihe charity and ihc charity's Ine£S a body. fl Er audii worK fw ihis rem w fwthe 109 we have fffined. M. D. Coxry and Co. Limit¢d Chartered Accounthnts and Siaiutory Auditors 25 Grosvenor Rood Wyexham LLII IBT 15th 0th¢kn2025 Pagell
31.12.24 31.12.23 nd fund runds fur$ INCOME AND ENDOWMtm FROM Invesmieni incc4Th¢ Other incLMne 418.036 21 9.789 427I25 21 441.945 653 Tot1 418,057 9,789 427.846 442J98 EXPENDITURE ON RAisin8 funds 69.449 77,148 73.087 Cbirlible attlvl¢l Grants payable 382.293 382,293 512.664 29,280 29280 17,577 Totsl 419.272 69.449 488.721 603 J28 Nd Kaitt$ on invesDnen 155 743220 743,375 429,082 NET INCOMFJ(EXPENDrnJRE) (1,060> 683J60 682.5C 268,352 RECONCILIATION OF FUNDS Totsl fijnds broughi forward 1,830.102 14.044,581 15.874,683 15.606,331 TAL FUThDS CARIUED FORWARD 1,829.042 14.728.141 16.557.183 15,874,683 Th¢ R¢$ fonn part of the5c financial 4*ements Pg8e 12
31.12.24 Jl.12.23 To funds Unrrstricd EndowThent fund fur funds N(rt FIXED ASSEIS Investmen Invesirncnls Invtyment proputy 7.2 .628.652 14.728.141 14.735,143 1.628.652 14,051,428 1.628.652 10 Its35,654 14.728.141 16J63,795 15.680, CURREwf AssEf5 Debiors Cash 41 bank 30J41 255.131 30J41 255.131 40,979 258.14 285,472 285.472 299,043 CREDtroRS Amounls falling duewithin one year 12 (92.084) (92,084) (104.440) 193388 193 J88 194,603 TOTAL ASSETS LESS CURRF LIABILrtlES I J29,LM2 14.728.141 16J57.183 15.874.683 NET ASSETS 1,829.042 14.728.141 16.557,183 15.874.683 Fur5 Unrestricted fund5 Endowment funds 13 ,829,042 14.728.141 1.830.102 14.lJ14.581 TOTAL FUNDS 16,557,183 15.874.683 Th¢ financia] atem¢nts were approved by the Board of TNAees aThl athisoj for iwe on 15th OctLkn 2025 and wert signa on its bchalf by.. D C P Jones. TN5tr¢ The f(rn p1 ofthese fitthnC1 YcmeMs P¥8e 13
EDUCAllQNelL.Ffj2UUDATJQLI AccOUNG POLICIFS B•sl$ of pparI¢ ihe nn4nrl•l it•ttm¢nts The fin4Th¢iDI ffl#lemeThis of lh¢ ¢harity. wlii¢h iq • public b¢nefil cniity undcT FRS 102. have been prep3red in acconi&nce wilh ihe Charitie% SORP {fRS 1021 'A¢¢(xJnling and Rew)rting by Chariiies.. Siaiemenl of Recomrn¢t)ded Prnciic¢ appli¢abl¢ to chariiiu PT¢parin8 iheir accounli in xcordan¢e wilh thc Financi Rcponing Siand&rd hpplicablc in ih¢ UK thnd Republic of Ireland IFRS 1021 leffeclive l January 20191.. Financial Reporting SiandaTd 102 Tre Financial Reponin8 S1MEard opplicable in th¢ UK and RcpublÈc of lrtland. and Ihe Chanii¢s Aa 2011. The finan¢ial ailem¢ni$ h•ve been wepared under ihe hisiorical cosi conweniion. wilh Ihe exception of invM¢nI$ which tre in¢luded at mthi v¢. a5 mLNlified by Ihc revaluation of ttrtain •ssds. The FoundlL'S pru¢nthiionol enCY is pndS stcrfing. The inJ51e¢5 consider ihtti ihere are no menl Unce111¢¥ the FndItion'S ability eottiinue u a going necrn. The level of free rcstrv¢5 is moTe than 5ufficieM io eovcr brrth workin8 ¢apithl znd al18 grani claims. The Charity is In yniDcoryoNed bc4ly regiiertd with th¢ Chwity Commissim for ETrgld Wales. Its princip#] Address can be (nd on p4e 6. l income is rteO8ni5d in the of Firthncid Aetiyities ore the ehaTiry has entitlemerrt to ihe fund5. it is probable th ihe income will be ffceivcd and the e4n be Me•wl r¢I1ly. Exp¢ndlnwe Liabili¢ies are rtto8nised &$ expendiwre as g)on there is a le8 or consuudive obligation committing Ihe Charity lo iha¢ exndliur¢. it is probable Ihai a msfer of economic benefits will be required in s¢ttlernenl and tht amouni of the obligaiion can be meawfed rtliably. Expendilutt is accounied for on an x¢nJals basis and has been Classified under headings lh aggrewe all CO related to the c80ry. Ie1C costs Cann be dilY attnbuied io particular headitt8s they have alloca to xtivitses • bASiS consis1ent with the use of Granis payable are charged in the year when Ihe offcr i$ conveyed io the rwipient ¢x¢w in ih05e cases where the offer is ¢ODdiiion¥l. such 8Tants bthn8 reeo8ni5cd expenditUTe when the conditions atta¢hifig are fuifllled. Grnnts offered subje¢1 10 ¢ditiOnS which have TKrt bvn ma & the year end are ncrted as a commitment. but not •ccrued as cxFthditur RxbinR fut)ds C0515 of generating fvnds COrnPTiS¢ those ¢0#5 diredly trible lo rqjairing and ingjring the proptities of the Foundaiton. CbaritAblt ¢tlwld CoAs of chan'tablc a¢tiMiies comprise all ¢05ts idenlifi¢d &5 wholly or allributhble to achievin4 thc charitable objeths of ihe Charity. including costs of dissemi18 infonn&ion in suppon of the charitable activiti. Gowern•o¢¢ 5¢1 Governar¢ ¢osts include those in the 8ov¢XL of the charity its tsscts and Bre primarily &Sswiattd with ¢onAiNtional ar Aatuw feqUiTemeDL8 Aliotdoll and app)rtionmtnt of t• Certain eXndEIre 15 direaly ¥tributable to spceific 1vIll¢s and ha5 be ¢lwified 4ppropriat¢ly. Inve5tmeDtI Inve5tr1eni prcwie$ arc includrAI at their matht valu& Any gain or 105$ on reUatIOn is taken to the St&ement of Financiaj Acliviiies. Page 14 conrinued...
EWGIDQNhLI.QUNDADQL4 ACCOuNG POLICILS- IDvn¢menti InveMen1% art Lled morkd volue at ihe balance shea d¢. All movemerttl in arising from inve4tmenl chonges or revilualion ue rcco8nised in the swemcnt of financial ly11¢s. Giins or 105s¢3 on investments are ¢4Iculed as ihe diff¢raKe bdw¢¢n lh¢ disposal p¢¢¢1 w)d t hi40ri1 cost. TixthD The chuity is ¢xemM fr(n on its ¢lwii•bk ¢iyitiu. Fund ¢couDtlni Fund5 held by ihe chrity t cither: Untt5tricted general funds - thtte are fund% whith can i% used in t£¢LYdance with th¢ charitable objectg at the dirdion of ihe Designed fiLnd$ - these are funds srt ld¢ by the ¢NAee5 Out of unrestrithd ge1K funds for ycifi¢ fvbjre purposes or projecis. Restricicd fiJnds- these are funds that can crfjly be ud for wtiiwlar TeI pur5MXS wiihin the Ljects of thc charity. Restridions arisc when specified by the donor or whcrt funds are raised for paniwlar restiict¢d Permaneni Endowment runts. these are fillts that are held on be Twitd for the bafit of the charity to: l. Make paym¢nts to the Gov¢rnw5 of the sc1KlS of thc foundation. 2. Promoie the catIOn of persons who are in n¢ed of financial &s51sts¢ and who are pupils of the schoo15 or were pupils and are under 25. 3. Award scholarship& exhibition& buT5arie& mahnnan¢e allowan¢ al oth¢rben¢fits. 4. Support and sISt the governors of the edufational ethlishments ih& are voluntary s¢h(x)Is linkcd to the Church in Wales by contr)FlIng lo the cost of alr&iorLS of and itnprovements to the pnwrty of such Sch15 and by ihe pn)vision of Vial benefits Mt nornMily providcd by the govemots of such schcx)Is. Key sUMptiOnS 8nd sourct5 of estSttt•Oon uncertinty With resp1 10 the n¢xi financia] year. the most significani a¥eas of urttnainty th aff1 the canying value of assds held by the Foundaiion a lh¢ levd of invc5tmenl rdurn and the perfonnance of investmenl markets (sec the investment poliq and perfomiance and risk maTra8cment sections of the truslc& rq)ort for MOT¢ infonnation). 31.12.24 31.12.23 Renui income Bank iniere Rathtrf)n¢ invc5tmeni intere Dividends- UK quiti¢s 16.619 1,872 4(9.143 191 12.859 1,882 427.Ol6 188 427.825 441,945 Page 15 continu•J...
OThER INCOME Jl.12.24 31.12.23 Sundry income 21 653 RAISING FUNDS lttvutineibt IllAIlAi¢m¢D¢ 31.12.24 31.12.23 Raihbone m•nagemeni {chwBed Kcnjed) Renl colleciion 70.689 1,675 2.969 1.815 65J15 2.452 3.499 l.821 Property in5ur4ntt 77.148 73.087 GRA13 PAYABLE 31.12.24 31.12.23 GTrnts PAyabl¢ 382.293 512,664 Page 16 conthnued...
GRANtS PAYABLE-eonthiued The pmc•Jnl payable in t year comprisu... 31.12.24 31.1223 St Nl•ry'i Alded Prlm•ry S¢bool Brythbo Inwrnnce Classrc¥)m ts5kSt•ni CCTV and projeaor 1.952 JO.778 1.926 20.(KX) T¢tsl 32.770 24,166 Mlntr• Alded S¢hool Insurantt Cla5srwrn assistsnt Headieachef ttle45e Rcfijrbishmcnt carly years Pathway proiea 2.065 20,() 4,748 20.1)XI 3.035 15,(MX) (20.1> 26.813 20.032 St Josrybs Scbool Minibus Retreat& swiol ccwjrt & coun5elling 63,829 30.793 50,{) 144.622 St Gll¢s Scbool Teaching as5(31 Minyrkn Resour¢es & smff training (tsIde 26.121 4.5 1196 20.306 3.488 9.197 32,817 32.991 Reliwus FAlU(lOO & Flith tknlopmeotC¢Jth iiunning co4s 16,467 21.670 Cole¥ C*mbrill Salary l¢haplain) 12.727 7228 RcligtOU5 Education & Faiih Development Centre- Stsffin8 C0515 Si Joseph5 Sehool Ch3plwn Xplore Sciencc Chuich Army. Staffjng toas Ruabon St Mtys Schrxjl Tin Can Si Gil¢s chh After sch{ Club 110.794 48.226 10,000 29.391 2,370 17.647 103,129 48.504 10.C¥)O 31.000 16.055 (324) Pagc17
GRATh PAYABLE- ¢ontlw¢d Si Mary's Overt Si Mark, Chnsichurth Overton CIW S¢hool Brt)ning¢oTh Sch7 li's Your Move Wai% Dyke SehLY)I OrgAn scholar Chris¢iAn% Tthher in Wr¢xhkni R¢v W Marshall 1.076 5Th) 1.150 lJ15 5.962 1.635 750 1.2(Kl 574 T¢X 22J.219 224.775 Educ81ional grnNs- S5 8rnnis issued for £J7.480 (2023..62 grnnts w¢re issued fly £37.180) SUPPORT COSTS Manageme Finar 23297 103 5,880 29.280 A breakdown of ihe lludit fees in the yearwe as follows 31.12.24 31.1223 for wdil wwk 5.880 5.526 TRUSTEES, REfuNERATIoN AND BENEFrrs There were IN*tts' remuneralion or other benefits for the year ended 315t Dember 2024 nor for th¢ year ended 31st DeMber2023. Trte, exp¢Dses There were no tnL5t¢¢¥ ¢xp¢n5¢5 paid for the ye4r ended 31st De¢ember 2024 nor fly th¢ year endoj 3] December2023. COMPARATIVES FOR THE ATEmE OF FINANCIAL AcfiviTIES Vnttsviar)a Endowincnt fund fund funds INCOME AND ENDOWMEKfs FROM tnvestment income her iThcorne 441.878 653 67 441.945 653 Totsl 442.531 67 442,598 EXPENDrruRE ON Raishng funds 7.232 65.855 73.087 Page 18 continued..
COMPARATIVES FOR THE ATEmE OF FINANCIAL AcnvmES- eontlnued Unte%thcted Endowmeni furttl fijnd funds Ch&rltAblt art111¢$ Grw)t% payable 511664 512,664 Other 17.577 17,577 To¢al 537.473 65.855 603 J28 Net Bains on investments 171.939 257.143 429.082 76.997 191.355 268J52 RECONCILIATION OF FUNDS Tota] funds brght forward .753,105 13.853226 Is.6331 TOTAL Fuf4DS CARRIED FORWARD 1.830.102 14,044.581 15,874,683 31.1224 31.1223 Limed investsments 14.728.141 14.044.582 14.735.143 14.051.428 31.12.24 31.1223 Market vèlue of investments * Isl January Additions ai ¢os¢ Disposals at cost u[wls¢d losses 12.948.252 3.576.882 (2.786.389) 38,880 13,423,178 2,097,836 (2.520.866) (51,896) Mthet vut of invcslmcnts at 31st December 13.777.625 12.948.252 RhbOt investh)ents hetd at the year end o*npri5e ¢apital and itlIne c&th Wartts of £957.518 (2023.. £1.103.1751 and iTrvestmcnt5 in qued equities aDd IxMKIs which were valued at fair value, equiva]ent to mèrke¢ ¥u& of£13.770.624 (2023.. £12,941.4107}. Rathkntte investhients are managuj by Rathbonc Invetheni Managtss the sigtled Ma[emen[ agreemeftL (see invm¢nI policy). Pag¢ 19 COtttinu¢d...
io. INVESTME PROPERTY Jl.12.24 31.12.23 20.77 acrex of w¢uliurnt ld and c(rtts8t thermHolt Wrnham (ierwi land) 32,652 32.652 12.58 acres of4n¢uliurnl laTrJ. Wrexhwn R(Ad, Holi (iuwrted I) 20.5ts) 20.5CKI 14.47 i¢r¢s of4ricul¢urnl land, Wrexhwn Road. Holi (ItsWMed14nd 25,5 Brym Corngse {ierthnied with PlnIng pmissi) 185,C 205.C Red Brick Con4g4 Bryn Etyi RoAd 140.C 140.C 61 Minern Hall Rd (ien•nied) 170,(bY) 120,COJ Mirterl School 525.Q 450.L 2 Foniwell a05e 270.C 252J68 41 Sprin8 G•rdeThs 260,CKXI 211.270 T(Aal 1.628.652 1.457.290 Opuh math wttr wiled ojt by J. N. Sumner MRICS ofBowen. s & Wat>Jn in November 2023. ii. DEBTORS.. AMOUm FALLING DUE WITHIN ONE YEAR 31.1224 31.12.23 Grdnts dye Prepayments 3.052 27289 3.052 37.927 30,341 40.979 12. CREDITORS: AMOUm FALLING DUE IVIThIN ONE YEAR 31.1224 31.12.23 92.084 104.440 Rents ttceived are deferred to th¢extent that they rele lo larpui(*ts. 31.12.24 31.12.23 BanCe 31 l# January Amouni to invegmert iw)me Amount deferr&l in ytar 440 (4401 440 (461) 440 aEance at 31st Dxember 440 Page 20 continu...
13. MOVEME IN FUNDS movcmeni in funds Ai 31.12.24 At 1.1.24 Unre$tYleied fwids Genernl fund 1.830.102 (Iw) 1.829.042 Endov4ment fvnds EndowThtni fund 14,044J81 683,560 14.728,141 15.874.683 682.51KJ 16J57.183 Net movement in included in the above are as follows.. Inaning Movmcnt in fvnds 10s5e5 UDrestrfdtd fwids Generel fund 41&057 (419372) 155 (j.C1) EndowTrent fullds Endomrneni nd (69.449) 743220 683J60 427.846 {488.721) 743 J75 682,5 Comp•rAtlw for Moveme1 f41% Net movement infvn At 31.1223 At 1.123 Ullre$tr¢d funds GcTherdl fund 1.753.105 76997 1,830,102 Elldomweot fiuk EndowThcnt fund 13J53226 191 JS5 14.044.581 TOTAL FifNDS I5.j51 268J52 15,874.683 Page 21 continued...
-ATJ 13. MOVEME IN FUNDS- Co¢ Compwaiiv¢ net movemcDI in included in the Above are as follows: Movement in fijndj loi Uttrntrl¢ted funds Gcnernl fibnd 442.531 1537.47J) 171,939 76,997 Endowmfni Endowrneni fund 67 (65,855) 257,143 191.355 TOTAL FLINDS 442,598 (603,3281 429.082 268.352 A current year 12 monihs artd Prior year 12 Thnih5 combir*d p)sitiLm ii Js follows: movement in fvnds At 1.1.23 31.12.24 Unrestrlct¢d fvnds Ge¢)erdl fund 1.753.105 75,937 1.829.042 EDdowment fvnth Endowmeni fijnd 13,853326 874.915 14.728,141 TOTAL FUNDS 15.606.331 950,852 16.557.183 A eurrenl year 12 months and prior year 12 rnonths eombinAI na movement in fund& includ in the kn¢ are follows.. Gains and 1055e5 Movement in rtd$ UDreitrl¢ted fuDth GeneAI fvnd 8f4).588 (956,745) 172.094 75.937 EndowmeDt EndowThent fund 9,856 (135.304) I,IMJ,363 874.915 870.444 {1.092.049) 1,172.457 950,852 Pa8c 22 eonlinua...
A4. OTHER FINANCIAL COlMENts A new church schryjl is plned for BrymEKJ and the tru¢¢ have agTml to fund 15% of ihe lotal cost. The emimaied contribution. 10 be fundcd fft)rn ¢&sh reservu ifpoMibl< irKr¢ad w £1,102.5) from £900.0. The lime forihe Iwild has yd be¢n agreed. The Tt¢S hivr also wttd io fuNI rnof ryirs bLh Bronington School and & Mth's Church. Funding is lo be Ca ai 0.( for Ihe fOtrIDd 25% ofih¢ i(rtal (estimed £350.LKK)I for the latter. RELATED PARTY DISCLOSURES LLw)¥ i[11n8 £4.() 8r•nied 10 The Educatiort F[11(1 of Dthie DO[hY Jdfreys wd Wiexham and Lli5trici Relief in Nttd in Ihe prtvioiis ywwert rcpaid in full..
Et1VQAIlOALEQ[)1JQ 31.12.24 Jl.12.23 INCOME AND ENDOIMEIW3 Inves¢m¢nt Incorne Rcnlnl Income B&nk Inlert Roihbone investment iniur Dividends- UK equities 16.619 1.872 4(W.143 12.859 1.882 427.016 188 427,825 441.945 O¢htr IDLinit Sundry income 21 653 427846 442,598 EXPENDfwRE Invtstmertt mD•8tmeni tosts Raihbone man4em¢nt ¢har8¢5 (charged •rKI a¢¢nJcdl Renl colle¢iion Property rewrs 70,689 1.675 2.969 1.815 65J15 2.452 3.499 77.148 73,087 Ch8rltble Aedwltlos Grants io institutions Glants io individud5 344.813 37.480 475.484 37.180 382293 512,664 Support Costs I¥IAn8¥tmtt)t Clerk %a]ary & expenses Profession fees Advertisin8 Sundries 8.840 12.688 612 1.157 8.840 577 1.082 23,297 11.9J9 FIMnee Bank charges 103 112 Auditors, remuner*ion 5.880 5,526 488.721 603.328 Nrt exPelldltU btfort and (60,875) (160.730) Thi5 page does form part of ihe slatutory financial #atements
31.12.24 31.12.23 Rcill$ed reeo%nl$ed llnd I5 Reali%cd inwtrimcnl gains I110s%es} Unrralis¢d invcstment I (los) Unrealised inv¢%tmeni pwKny gaini l (105ses) 704,650 38.725 3.016 {51.897) 171.363 Ntt ID¢ome 682,5(KJ 268J52 This page ths w fonn part of the mwlory firncId1 5tatcmcTht$ Page 25