F¢X THE 31 DXEMIY4 2•1J
ca￿ Llmltsd
72 Ro*1
NG18 IBN

THE BULL TEIRR (UK) I*WARE TRusr
coNrENfs OF THE FINAhflAi STATE41ENrs
P•
1 to 3
7 kn 10
11 to 12

THE 8ULL (UK) WRFARE TRUST
Tr* thdr the of the d• for the erKknI 37 Decthni*r 2025. Tho
lJu* have the pr￿AI￿V5 of ActoutTtln8 and Rqxxdn8 ty (Jwltlvs. Sknent of ReLyxnmond&l Pra(th?
appllca)le to C￿orttle5 pre￿rfry thelr*Thunts in wlth Ih FInI￿[al Rep• StsKlwd a&yllcJbl8 In th• UK
Republic of IrelaThJ (FR5 102) loffeLth* l JaThwy2019).
OIJEcllvBANDAcnvm
Objthu almi
Th• ¢*Jttt ofth• Trurt thall be to rnI1￿the and dtstre* dBull TeffI￿ To Il¥• care arnl trj Bull Terrfe
W4 u truthd, *rlw kn c(¥*lnue tr Ak• Thi Trtut wlth •ll thAt hav• IW w b) thh
Atthe sknrt of2025 TA• W 11 ￿11 lerf*s In ¢)w hNAvd lythm 2024.
16¢￿In
12 came In
18cameln
13 In
17**rtout
$9 In
Thh Ivm• u• f*lth 9 D#ll oyr k•nn•h at th• 012•
ourt￿ 2025, our rnaln adfvltfts tho Mrne • hIML￿1￿. trtè Mnajn on
am0mj￿ and rthxnlrw the Bull T•rrtern that oxne Ink+ ow tram kn thv bwt pomlble
W¢ vRILvmo All trj app￿eth1O￿1k* ordlrailywlth Lyjrnpldl￿ ￿ ￿1Q￿On
th* Is ￿ be flllul outand We thEn wiKe*lto thu*¥ vla om rlour tr￿1 thkh h¥
condnuvAI ty wDrk ¥MII the yè
W• atte1M￿ The 8ull Tttrfer SIMXV ith MI1￿ ￿l￿n￿ lor The Bull Tenlor
IUKI Wetfwe Tru
We al￿ al￿nd￿ Qults In 2025 whern cltre Trtat dl th* t*• & for tyjr bmrl.

THE BUiL T￿1￿{UK> IThFARE TRUST
IVORT OFTHE Tri
2025 was a >wfor the trwt tho¥•l 59 du*)￿the yw ￿11 to r•hm 58
and 3 to be Iwjt to I18¥ We hrn a *vn al ￿1p￿S ar#1 VT¥lunt•Brs th* CDnlnue kn Ablve tr• pt
(kn85 In the ore ofthe trurt Into thelrfothw as wl(*ty *5 l *Duld ￿r5D1￿llY Ilke kn thank atl thtt•
ple 4rn1 thlltfinththlly.
KenMlllr¥ FeES: £30,409.
Vtsimry F•N WKI mdldn•L. £15.11
Prfrnl￿ Pr• Stthrw. £243
Irthwantr. £457.
In¢ome Ralwd.. £22A89
At the •nd of2025 45ur FIxfAI A¥# Irr••th￿ Poll￿￿W￿ £l,ITI,176. (￿rrath at b
Il U30,181 ofwthlth 5¢ottbh Wkkmy hol& Iurt¢Thw£26.￿}. Thh aTr (AYAII of£1,606243.
Annual Incorn
Th• (Jwlty #Ill f•th t1￿•15 lora ￿lIlLylOr1￿1dlry Its Incorn• li JIFII from
IrnBular and canmt be Ary •we are th)ne the com1n￿l obvAII welfar• of rexxk
Bull T•rrt•rn In the firtur&
Tho Is ￿ unl￿0￿￿tall￿AK1￿l0n wlwx••Thrynlffd 4thmtd1￿, The Bull Tefflwaub lu
W•lfarn Tn￿ Conrtltudo
Th•te S￿11 be a sw oftho olth•TnArt and TnNb]w * le¥t one olt*lKxn 4411 not bè • merllb•r
of The Bull Tffrkr aub Comrnw coll1d￿V kn¢y*n 4 the TnMi••s. Thtr• arn 4pwInt￿ the commltte• of
Bull T•ther Club and one &knll be ap￿1n1¢￿ • (Jwlnrtan w¥vJally by the Trutsw In Commltt* Ilwe li no
Ilrnnent for i perwn apwlnt•J ¥ a TnM•Dto be • mernl￿ ofany Bull Ton*rad>.
Unlt•d ofTh? Wl Tarfer be wmh th• Tnmt arnl the memb
ofon• thAII I￿OrnI￿￿ty LYAx>m• mffrkn (rfthe
REFEIENCE AND ADMINISIRATTrE DETAI
1038286
Watboumo
bshe
Alfrthn
D•byshlr•
IK55 SPS

IXp18 1ON
TJ P•ts.

INDrnDENT EXAMINER15 REPOIT TO THE TRusfEB OF
THE 8UiL TEIRILI iUK) WELFARE TRUST
I Ye￿rtIO th• dwltytruste¥5 ￿ my LYamI￿On ofthExcounts Bull Teff￿r{uK) W•fkn Tnwt the Tnrfi forthe
31 DezemL*r 2025.
rwulrnments ofthè CPtarlNts Acl 2011 thArt).
I rwt In af my examlnallon (4 the Tnm's x(J)unts out 145 ofthe Act athl In c4ryln8 Out my
&*rnln*lon I fo11tr￿ all appllcable Dlr•Lllcrn Comm155lon SeLtIM 145151(bl ofthe A¢1
Aamlnthn Ivlrw me cauye that In
acroundry In ff•4xd ofthETrwt ly5x1k￿ 130 dtheA¢ or
the act￿nts ar￿n1 wlth or
th• act¢unts do Trjt a%mply wlth the appllcable axK*mlryth• fumi ¥hY ofKLYwnts Alt ￿ In
the Chwftfes (Accourth aThJ Rep)rts) Rwlallom 2(N than nXw1r￿e[ft th•t th? sTv• a tnm and
falrvleAf Mt a rn•tloraYthrvd a• part Iryl¢pwKkn evamirwllo
drn¥n In thli In onlw to a &rybW dihtX4xxwts*
Thli rol￿rt li rn•J• ￿lelY to the dwlvl Iiity ¥ • boo%*, In wlth the ch•rldts
ReFxYts) Rwlatlarn 2QJ8. Our &¥￿In￿l￿ hm that w4 mwt AtaT• to the dwtty'i
trultea thoM m•tr•rn ¥￿ Arn rw4ulrnJ to strtrl ty them In an Indryutht exwnIn￿l r•wrt and lor nts other pun>m To th•
fvlkn ttt•nt permttb4 by Iw, wè do acw Of othBr th•n ar#& th• chvwl
tnxlBu M • Ldy. forour Indepwth •wnlhth hrthkn or forbkn oplnlom wt hm form
Jamu Card
Hvmtt Caftl Llrn
72 Nottln*wn Ro
M￿￿e[d
Nottjntsmshlrn
NC18 IBN

rATEIAwf OF HNANCIAL Acnvrri
31.1225
31.12.24
Unrutrktal Total
20.6TJ
J77
11,361
Td
31942
EThDrfuiE ON
Pafsln8 furds
27•
133
57AO
65,967
Trtal
S7,TA7
Nltplni on InNMtrnw
161,a••
59.115
NEf INCOIAI
25,957
IECONaUATION OF FUNDS
Total furmk bro￿110￿¥&[d
1067
1,441,931
1.6W1 J
1h67,Jg8

31.1*24
45*146
IMVI* JAV

THE BULL TRIROJK) WELFARE TRUST
NOTr TO THE RNANaAL STATEIAENY5
ACCOUNTING iYxiaES
The ilnand41 of the dw*y, Is a pthllc benefit FRS 102, bmn rrya￿l In
Prxdc* applkatAe ty charltla tlRlr tLrounts in ￿0[d¥￿ wlth the FIn￿da1 Rewdn8 5tsndwd
applloble In th• UK and Rewblk of I￿ard (FRS 102) i JaThJary 2019).. Flnardal standard 102
FIn￿d￿l Re￿rfIry strnd￿ awll(able In UK •rd Republlc d lrnlaNI' Charfdas Ad 2011. T
whlth IrdwJeJ4 at rnarketvalw x nxKllflal by the revalualrm of cerf￿n amets.
8ull T•Tht•r IUKI Welf4rn TnAt d•. ￿￿[11￿￿j In En￿ThI arnl Wate& Tho
All Inconx Is In the 5ktur•ff d FIn￿dI1 AdSvltfu once the tharfty efflldwrt kn th• fvnth, It li
obthlethat the Incrxne wlll be ￿1¥*j the cats be rell•bly.
Uabiittkn arn •XK*Nllttw• x x(#)n • leW orcominthobl1￿ L¥Mm1￿￿th0 <**fty to
It Is wobable that a of economk wlll be wulrnl In ￿ement the arnount of
the obllgtton can be mwured rnlwy. Expvttlknrn IDr on bwls bem d•ulfl•d
under 411 rElatrAI to the (*wry. o7sb ¢xvvJt be dlrttfy *trfbu*J ty pllrtlcul•r
heAdlnp they bpm allootsl to on a wlth u•• ol rnlourr
Stoth •rn vil￿1 at tr• rndlMbl• v•* maklw duE 411ry*arth for obKJlth •nd il
mavlng It•rrd.
UnR#dL*ad lur*& ran b• wed kn Kcudm vAth Ih dwltsble at th•dluJ*lM olth•lTuthq
c4n ¢Mly bp wllcul¥ re*lLteAI puw wlthln the obj&* ofth•dwlty. R*ialoM arf
when yrlfled ￿the dNK)ror th fvnth are lor F•rikular rEAtslc*l puryrfl
Inv¥*Jwts whlch •M herd for th• In fin￿d￿ m•ts
held forth• purKKx• al wovloh
Cath cuh ￿Ul¥alents kn the t4knrr• c(ryts bath •KI aTrJ with
orf*nal MI￿rt￿ d* ofthrno or leo.
mlnl#rntfve eXpeTh￿.
enternl Into. An e¢wlty Instrument h *ry ￿¥t th* eAd•nw a reshkni Inknl In the of •ndty aft•r
o)Nlnued...

THE BULL T￿l￿{vK) WELFARE TRUST
Whern the contN￿￿ th118*ioni d fln¥*knl ([nd￿lIn8 c*1) arn •4th1•rt to i slmllar dfl*
Inffrunw tho* flrwrKTal daMeAI x fln•TKlal IldAIItFw. Flnandal Iiablllllas are In
the balaK* the& FlnarKe Ca￿ and or Mlallng to flnnI￿ IlabllldE5 arn Incr￿ In the profit arKI I
FInu￿a￿l aY• eAloJlatul w(Ox• a LYXKtant r*al rtim on tho Il•blllty.
Whern thB *rnis ol thare (xpltal any rneed￿ ￿ defin￿On ofa Il&lllty then
thls li da5￿1 as an Inthumrt d1*#￿0￿ to wwlty dEbltsd d1￿
ulty.
OTHLI IIAOING Acnviii
31.1125
31.1224
)p Inc(ffie
577
INVHTMwf INCOhlE
31.1U%
31.12.24
D￿1 xcourt Intyert
11W6
10,959
402
11,361
5￿POrt
sb15•0
note 51
DlreLt
Totals
Ch•rliable
47m7
37049
Tolals
1091
10JTa
INDEPENDENT EXA4IINElSt REMUN￿TION
J1.IUS
31.IU4
TRu$r￿, REMUNERATION AND ThVITS
31 2024.
rXxJtlnu￿I...

the yw thled 31 2025
Llstul
IiIRKEf VALUE
At 1 January 202S
AddlI￿rA
I￿1￿￿19
161J
At 31 2025
1,177,176
NEf IIOOK VALUE
1,177,176
1,015,819
j1.lias
31.12.24
278
1th CIEDITOR& MIOVN15 FAWNG DUE wmiThT 43Ne Y
J1.11
31.12.24
955
11. MOVEMM IN FUNDS
Net
At1.1.25
In fundj
31,1225
c￿1rd fur
1JW
TOTAL FUNDS
1A67W•
13V25 1W13
I￿)mIr4 Re8ource5 Galns and iknment
In fvnds
Gonwal fur
g7,TJ71
161,1
TOTAL FVND5
Jyn
7,T171
161JWJ
condnued..

NOT￿ TO THI FINANfiAL STATEME￿s.
11.
At1.1.24
In funds
31.12.24
IA41,931
25,957
IA67.a8B
TOTAL FUNDS
1h41,931
25,957
IA6T,88a
Incomln8 Galns and Movement
In hjnds
c￿er*I fiwMI
942
166.1LWJ
59,115
25,957
TOTAL FUNDS
32,942
166.IiJl
59,115
25,957
11 IUATED PARTY DISCLOSUI

THE BULL WK) IVaFARE TRLsr
31.1125
31.1224
21090
20,6TJ
20.6TJ
577
Dep￿sE Kcount Inter*t
10,959
11,361
WT
31942
EXPENDITUIE
Openlng rt<x*
Closlno rt(K*
411
27•
133
BoArd5ro IEU
Vetf
Tran¥>Jrt
JOA
1S.IKI
34.215
19.574
47W77
Iniurance
487
457
312
461
Ih13
Aththlilnl
Sur
1,260
J7X17
66,1(K)
(2ws)
(33,1
lo￿
94AI8)

THE BULL T￿1 (UKJ WBFARETRusr
31.1225
31.12.24
Reall*1 on fixoda#ot Iihysbntrt
Ql949
161,2••
(34AI8)
59,115
25.957
Thls page does fo￿ 5ktuWflnanclal 5tstrments
P4e 12