REGISTERED COMPANY NUMBER: 06421230 (England and Wales)

REGISTERED CHARITY NUMBER: 1121770

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 January 2025

for

THE DAYLESFORD FOUNDATION

Page

Reference and Administrative Details

1

Report of the Trustees

2

to

3

Statement of Financial Activities

4

Balance Sheet

5

Notes to the Financial Statements

6

to

8

TRUSTEES

Lady Carole Gray Bamford OBE

Mrs Alice Camille Bamford

Mr David James Alexander Grant

Ms Ruth Anne Kenndy

COMPANY SECRETARY

Mr David James Alexander Grant

REGISTERED OFFICE

9 Worton Park

Cassington

Oxfordshire

OX29 4SX

REGISTERED COMPANY NUMBER

06421230 (England and Wales)

REGISTERED CHARITY NUMBER

1121770

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Trustees hold the income and such part of the capital as they determine for the Foundation’s charitable objects.

The Foundation’s objects are to further or advance such purpose or purposes as shall be exclusively charitable according to the law of England and Wales in force from time to time as the Foundation shall from time to time determine.

The Foundation primarily achieves its aims by making grants to other charitable organisations.

Significant activities

The Foundation currently focuses on the advancement of environmental protection/improvement through (i) developing practical ways of encouraging more people to seed, nurture and harvest their own food, (ii) championing the connection between great tasting food and pure, raw ingredients and (iii) promoting sustainable agriculture and the value of good farming practices.

The Trustees have read and are mindful of the public benefit statements issued by the Charity Commission and refer to the Commission’s guidance when considering grants to be awarded. The Trustees consider that the public benefit test is amply met through the projects the Foundation supports.

Grantmaking

The Foundation has established processes to identify suitable projects to support and to monitor the grants made.

FINANCIAL REVIEW

Financial position

The financial activities are summarised on page 4 of the accounts. During the year the Foundation recognised income of £6,967 (2024: £6,377).

The total funds carried forward at 31 January 2025 are £698,894 (2024: £676,565), consisting of £656,379 (2024: £642,345) of Expendable endowment fund and £42,515 (2024 £34,220) of unrestricted.

Investment policy and objectives

The Trustees have wide powers of investment.

The Trustees work with their investment advisors on an ongoing basis and continually monitor the investment performance.

The Trustees are satisfied with the performance of the Foundation’s investments.

Reserves policy

The Trustees have a policy of holding sufficient free reserves (being those which are not endowment, restricted or designated) to meet the needs of the anticipated needs of the Foundation in the coming 1-2 years. The reserves are held to provide the Foundation with financial flexibility and provide a cushion against shortfalls of income, either planned or unanticipated. The level of free reserves at 31 January 2025 was £42,515 (2024:£34,220). The Trustees consider this level of free reserves satisfactory.

FUTURE PLANS AND INVESTMENT POLICY

The Trustees intend to fund future activities from donations and income generated from investments.

In the future, the aim is to find suitable projects which the Foundation can support. In particular, the Foundation is interested in promoting sustainable food, agriculture and the value of good farming practices.

It is envisaged that the activities of the Foundation will remain the same for the foreseeable future.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Foundation is a company limited by guarantee (registration number 06421230) and a registered charity (registration number 1121770). The Memorandum of Association dated 1 November 2007 and Articles of Association (adopted on 2 October 2013) govern the Foundation.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 29 October 2025 and signed on its behalf by:

Mr David James Alexander Grant - Trustee

2025

2024

Unrestricted

Endowment

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

18

-

18

-

Investment income

2

6,949

-

6,949

6,377

Total

6,967

-

6,967

6,377

EXPENDITURE ON

Raising funds

-

2,106

2,106

2,065

Charitable activities

Grant making

(4,000

)

-

(4,000

)

-

Other

2,672

-

2,672

4,315

Total

(1,328

)

2,106

778

6,380

NET INCOME/(EXPENDITURE)

8,295

(2,106

)

6,189

(3

)

Other recognised gains/(losses)

Gains on revaluation of fixed assets

-

16,140

16,140

24,296

Net movement in funds

8,295

14,034

22,329

24,293

RECONCILIATION OF FUNDS

Total funds brought forward

34,220

642,345

676,565

652,272

TOTAL FUNDS CARRIED FORWARD

42,515

656,379

698,894

676,565

2025

2024

Unrestricted

Endowment

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Investments

5

-

634,518

634,518

658,781

CURRENT ASSETS

Cash at bank

45,139

21,861

67,000

23,688

CREDITORS

Amounts falling due within one year

6

(2,624

)

-

(2,624

)

(5,904

)

NET CURRENT ASSETS

42,515

21,861

64,376

17,784

TOTAL ASSETS LESS CURRENT LIABILITIES

42,515

656,379

698,894

676,565

NET ASSETS

42,515

656,379

698,894

676,565

FUNDS

7

Unrestricted funds

42,515

34,220

Endowment funds

656,379

642,345

TOTAL FUNDS

698,894

676,565

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 29 October 2025 and were signed on its behalf by:

Ms Ruth Anne Kenndy - Trustee

Mr David James Alexander Grant - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All incoming resources are included in the Statement of Financial Activities when the Foundation is legally entitled to the income, it is probable that it will be received and the amount can be quantified with reasonable accuracy. Income relates to interest and dividends received from the UK. This is recognised on receipt.

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. No allocation of costs is required since the Foundation has one activity.

Costs of generating funds are those costs incurred in managing investments for income generation and capital maintenance.

Charitable activities are those costs incurred by the Foundation in order to meet its charitable objectives, including support costs.

Donations and grants are recognised when the grant has been agreed and a constructive obligation to pay the grant exists.

Governance costs comprise all costs involving the public accountability of the Foundation and its compliance with regulation and good practice.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Taxation

As a Foundation, the company is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or S256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Foundation.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Recognition of liabilities

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Foundation to the expenditure.

Funds

Unrestricted funds are those funds that are available to the trustees for the general purposes of the Foundation.

Expendable Endowment funds represent those funds received as capital to be retained for the benefit of the Foundation that may, at the discretion of the trustees, be converted into income.

Transfers between the expendable endowment fund and the unrestricted fund are carried out at the Trustees’ discretion.

2.	INVESTMENT INCOME

2025

2024

£

£

Income from index linked gilts

6,949

6,377

3.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 January 2025 nor for the year ended 31 January 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 January 2025 nor for the year ended 31 January 2024.

4.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Endowment

Total

fund

fund

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Investment income

6,377

-

6,377

EXPENDITURE ON

Raising funds

-

2,065

2,065

Other

4,315

-

4,315

Total

4,315

2,065

6,380

NET INCOME/(EXPENDITURE)

2,062

(2,065

)

(3

)

Other recognised gains/(losses)

Gains on revaluation of fixed assets

-

24,296

24,296

Net movement in funds

2,062

22,231

24,293

RECONCILIATION OF FUNDS

Total funds brought forward

32,158

620,114

652,272

TOTAL FUNDS CARRIED FORWARD

34,220

642,345

676,565

5.	FIXED ASSET INVESTMENTS

Listed

Unlisted

investments

investments

Totals

£

£

£

MARKET VALUE

At 1 February 2024

618,378

40,403

658,781

Revaluations

16,140

-

16,140

Reclassification/transfer

-

(40,403

)

(40,403

)

At 31 January 2025

634,518

-

634,518

NET BOOK VALUE

At 31 January 2025

634,518

-

634,518

At 31 January 2024

618,378

40,403

658,781

There were no investment assets outside the UK.

6.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Accrued expenses

2,624

1,904

Grants payable

-

4,000

2,624

5,904

7.	MOVEMENT IN FUNDS

Fund Name

Fund balances brought forward at1/2/24

Income

Expenditure

Gains and losses

Fund balances carried forwardat 31/1/25

£

£

£

£

£

Unrestricted Fund

34,220

6,967

(2,672

)

38,515

Endowment fund

642,345

(2,106

)

16,140

656,379

Totals

676,565

6,967

(4,778

)

16,140

694,894

Comparatives for movement in funds

Fund Name

Fund balances brought forward at1/2/23

Income

Expenditure

Gains and losses

Fund balances carried forward at 31/1/24

£

£

£

£

£

Unrestricted Fund

32,158

6,377

(4,315

)

34,220

Endowment fund

620,114

(2,065

)

24,296

642,345

Totals

652,272

6,377

(6,380

)

24,296

676,565

8.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 January 2025.

9.	LIMITED LIABILITY

The Daylesford Foundation is a company limited by guarantee, the liability of the members being limited to £10 each.