# **Yorkshire Building Society Charitable Foundation (A Company Limited by Guarantee)** 

**Registered Number: 03545437 Registered Charity Number: 1069082** 

## **Annual Report and Financial Statements** 

**for the year ended 31 December 2025** 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Contents** 

Company Information ............................................................................................................................. 1 Trustees’ Report ...................................................................................................................................... 2 Statement of Trustees’ Responsibilities ............................................................................................... 11 Independent auditors’ Report to the members of Yorkshire Building Society Charitable Foundation 12 Financial Statements ............................................................................................................................. 16 Statement of Financial Activities ...................................................................................................... 16 Balance Sheet .................................................................................................................................... 17 Statement of Cash Flows .................................................................................................................. 18 Notes to the financial statements .................................................................................................... 19 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Company Information** 

## **Reference and administrative details** 

|Company number|03545437 (Company limited by guarantee)|
|---|---|
|Charity number|Registered in England and Wales Charity No. 1069082|
|Trustees (who are also the Directors||
|for the purposes of company law)|E Fuller|
||N Irving|
||L Latibeaudiere (Resigned 9 September 2025)|
||L Morgan|
||L Newton|
|Secretary|M Smallman|
|Registered Office|Yorkshire House|
||Yorkshire Drive|
||Bradford|
||West Yorkshire|
||BD5 8LJ|
|Independent Auditors|PricewaterhouseCoopers LLP|
||Central Square|
||29 Wellington St|
||Leeds|
||LS1 4DL|
|Banker|National Westminster Bank plc|
||PO Box 90|
||1 Market Street|
||Bradford|
||BD1 1EQ|



1 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Trustees’ Report** 

The Trustees, as listed on Page 1, who act as directors for the purposes of company law, present their report and audited financial statements for the year ended 31 December 2025. 

The Yorkshire Building Society Charitable Foundation (‘the Charity’ and ‘the Company’) qualifies as a small company in accordance with S382(3) of the Companies Act 2006 and is therefore exempt from the requirement to prepare a strategic report under S414B of the Companies Act 2006. This report has been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. This report incorporates the Directors’ Report as required by the Companies Act 2006. 

The registration number of the charity in England and Wales is 1069082. 

The address of the principal office of the charity is Yorkshire House, Yorkshire Drive, Bradford, West Yorkshire, BD5 8LJ. 

## **Structure, governance and management** 

## **Governing document** 

The Charity is a company limited by guarantee, incorporated on 7 April 1998 and registered as a charity on 8 April 1998. The Charity was established under a Memorandum of Association which established the objects and powers of the Charity and is governed under its Articles of Association. The Trustees, who are also the members of the Charity, are required to contribute an amount not exceeding £1 in the event of the charitable company being wound up. 

The Yorkshire Building Society Charitable Foundation is independent of the Yorkshire Building Society (‘the Society’). 

## **Appointment of Trustees** 

The power for the appointment and/or removal of Trustees lies with the Trustees or the Society. On appointment as Trustees, an induction is provided; however, all Trustees should preferably have had or have experience of other charities, voluntary service and/or public service organisations. Trustees register themselves for updates to changes to regulations and best practice from The Charity Commission as well as changes to financial reporting and Company Law requirements. The Trustees are the directors of the charitable company. 

None of the Trustees have been paid any remuneration or received any other benefits from employment with the Charity. 

## **Organisation** 

The Charity has a maximum of five Trustees, the majority of who must not be employed by the Society. The Trustees administer the Charity and meet quarterly, although day-to-day responsibility for routine administration rests with Society employees. To facilitate effective operations, the Society provides the Charity with facilities and with financial, administrative and technical support as needed by it, under a Framework Agreement between them. The principal activity of the Charity, making donations, is undertaken in accordance with the Donations Policy adopted by the Charity and within guidelines as agreed periodically by the Trustees. 

The Trustees are the only persons authorised by the Charity to make any payments on its behalf and they do so within authorisation levels agreed in the mandate with the Charity’s bankers. 

2 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Trustees’ Report (continued)** 

## **Structure, governance and management (continued)** 

## **Organisation (continued)** 

Applications for support are made through the submission of an online form. All nominations and requests are reviewed by the administrative personnel of the Society who are charged with undertaking support for the Charity under the Framework Agreement as referred to above. 

This review is to ensure that, amongst other things, the application fits within the Charity guidelines which are published to Society colleagues and are available to the public through Society branches, online or direct from the administrative personnel. These guidelines provide a non-exhaustive list of the types of causes, activities and projects which are likely to be supported and, equally, those which are not. 

## **Related parties** 

As it is complementary to and supportive of the Charity’s objects, the Charity works closely with the Society. 

## **Risk management** 

The Trustees recognise that the Charity is limited in the objectives which it supports and is closely linked with the Society, and its members and colleagues, in connection with its funding and donation activities. Under the Framework Agreement which exists between the Society and the Charity, Society personnel and systems are provided subject to and in accordance with the processes and procedures which the Society, as a building society regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA), must and does maintain. Since it operates entirely within Society premises and utilises Society facilities, the Charity is subject to the same risks faced by the Society in those aspects of its operations. Key elements in the management of financial risk are the adoption of the Donations Policy, which the Trustees review on an annual basis, the mandates which the Trustees set for donations and operation of the Charity’s bank accounts and the setting of a Reserves Policy and its review by the Trustees. Other key risks, such as the risk of financial fraud, are managed by the Society colleagues under the controls framework and policy. The Trustees therefore believe all major risks are being appropriately managed. 

## **Going concern** 

The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, they have adopted the going concern basis of accounting in preparing the annual financial statements. 

During 2025, the external environment showed some signs of improvement, though conditions remained mixed. Inflation increased during the year, while the Bank of England continued to reduce Bank Rate gradually and economic growth was modest overall. As in prior years, it is expected that these external factors will continue to have a limited direct impact on the Charity. It is expected that the Charity will continue to receive funding from the Society for at least 12 months from the date of signing these financial statements. 

3 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Trustees’ Report (continued)** 

## **Objectives and activities** 

The aim of the Charity is to support charities for the public benefit where the Society’s members and colleagues live and work, helping to demonstrate the value and support that the Society provides to local communities throughout the United Kingdom. 

The Charity’s objectives are to promote being exclusively charitable according to the law of England and Wales. Charities that receive donations in England and Wales must be registered with the Charity Commission for England and Wales. Charities that receive donations in Scotland must be registered with the Office of the Scottish Charity Regulator (OSCR). Charities that receive donations in Northern Ireland must be registered with the Charity Commission for Northern Ireland. 

The objectives of the Charity are to apply the income and/or capital for charitable purposes, and to make donations to UK registered charities in such manner as the Trustees in their absolute discretion see fit. 

The Charity aims to help alleviative poverty, improve health, and save lives. The Charity has continued to pursue these objectives by undertaking the primary activity of reviewing grant applications and awarding grants to registered charities that advance these objectives. Donations are made to registered charities, to help support, sustain or improve services for beneficiaries such as children, the seriously ill, the elderly, the homeless and the disabled in the UK. 

## **Small Change Big Difference Fund** ® **(SCBD Fund)** 

In 2025, in response to the strategic review of the Charity’s activities in 2024, and to ensure the Charity was responding to direct needs of the local community, the Trustees agreed to prioritise the Charity’s support through the SCBD Fund to charitable organisations: 

- who provide urgent support or relief to those experiencing financial hardship, to enable them to address immediate needs. For example: foodbanks and debt advice charities 

- that are based in areas of high deprivation (top 20% of deprived areas in the UK) 

- that have an annual income turnover of less than £100k 

Prioritising funds enables support to be directed towards areas of deprivation, charities supporting marginalised groups and smaller, grassroots charities to ensure donations make the biggest difference. The Charity’s support is limited to the United Kingdom. The Charity has focused its activities on seeking to help as many charities and causes as possible for the public benefit where those meet its donations criteria as set out above and in the Donations Policy. The Trustees continued to make donations up to the maximum amount of £2,500 on an unrestricted basis, giving the charities greater freedom to spend donations flexibly and where needed, such as, on project or core costs. 

To support impartial and transparent decision making, Trustees approved and implemented a scoring framework based on the priority criteria for quarterly nominations. Trustees have shared feedback after each quarter’s decisions to continuously improve the framework and its use. 

Donations are made possible thanks to Society members who take part in the Small Change Big Difference® (SCBD) scheme. In 2025, the Charity donated over £363,582 (2024: £379,959) to 236 (2024: 389) charities through Small Change Big Difference. Note 7 discloses all donations approved in the year to charities with an individual value of £2,000 or more. The Charity’s donation activities 

4 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Trustees’ Report (continued)** 

## **Objectives and activities (continued)** 

are supported through the activities of Society colleagues and concentrate on charities proposed by the Society’s members and colleagues. In line with the Charity’s Donations Policy, SCBD income has continued to be allocated to fund all nominations that met the approved criteria. In 2025, both the number and total value of donations showed a reduction in comparison to 2024. This change broadly reflects the introduction of the revised donation criteria, implemented to ensure closer alignment with Trustee priorities. 

As anticipated, some nominations submitted earlier in 2025 continued to reflect the previous criteria. This resulted in a reduction in the volume of nominations eligible under the revised framework. As awareness and application of the updated Donations Policy increases, nomination patterns are expected to gradually stabilise and more consistently reflect the Charity’s current strategic focus. 

At the end of 2025, 957,600 (2024: 948,000) Yorkshire Building Society accounts were signed up to the SCBD scheme, generating £437,044 (2024: £404,670) for the Fund. The Charity works annually with the Society to promote the scheme through external PR, marketing and colleague training to sustain this income stream. In 2025, colleague communications focused on the revised SCBD grant priorities following changes to the Donations Policy, supporting more informed conversations with members about opting in. Externally, PR activity highlighted the regional and national impact of quarterly donations. The number of media articles decreased in 2025 to 37 (2024: 124), as 2024 had ‑ been temporarily elevated by coverage of the Charity’s 25 year anniversary. Despite this reduction ‑ in coverage, continued opt ins to the scheme and ongoing promotional activity throughout 2025 ‑ provide a strong basis for future grant making. 

The success of the SCBD Fund is measured by the number of charities receiving donations, and the proportion of charities that are grassroots or within the top 20% of deprived areas in the UK. The new funding criteria were implemented in January 2025, with first grants being awarded in May. Within the three funding rounds in 2025 40% of grants awarded were for grassroots charities and 34% were located within the top 20% of deprived areas in the UK. This insight will be used as a benchmark for donations in 2026. 

## **Building Bradford Skills Fund** 

The Building Bradford Skills Fund was established in 2024 through the repurposing of unallocated funds from the former Real Help with Real Life Fund and through further contributions from the Society. In total, £1 million has been committed by the Society from 2025-2027. The Fund provides multi-year grants supporting charities who deliver projects that help local people overcome barriers to employment and improve job prospects. The Fund has prioritised investment in projects operating in the city’s most deprived Wards (specifically - Bowling & Barkerend, Bradford Moor, City, Clayton & Fairweather Green, Eccleshill, Great Horton, Little Horton, Manningham, Royds, Tong and Wibsey, as defined in the English Indices of Deprivation 2019). 

5 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Trustees’ Report (continued)** 

## **Objectives and activities (continued)** 

After a rigorous application process in 2024, Bradford Central Foodbank, Lower Grange Community Association, The Cellar Trust and Smart Works were awarded grants by the Charity in 2025 to support projects in Bradford over the next three years. 

## _Bradford Central Foodbank_ 

Bradford Central Foodbank provides emergency food parcels to people in crisis. As well as providing food, it works to address some of the root causes of food poverty. The Charity has funded a job coach at the foodbank since 2022, who helps clients with job searching, CV writing, and job applications. Funding from the Building Bradford Skills Fund has enabled this service to continue, as well as formalise the charity's volunteer training and enable it to offer accredited courses in warehousing, manual handling, customer service, and food hygiene. 

## _Lower Grange Community Association_ 

Lower Grange Community Association aims to transform lives and break the cycle of unemployment in Bradford. It focuses on employability, breaking down barriers to employment, youth empowerment, and supporting entrepreneurship. The funding will enable the charity to deliver programmes, workshops and support services focused on important topics such as enhanced English for speakers of other languages, workplace English, digital skills, vocational training, entrepreneurship and youth employment accelerators. 

## _The Cellar Trust_ 

The Cellar Trust supports people with serious mental illness and those at risk of mental health crises in Bradford and surrounding areas, helping nearly 12,000 people annually. The charity uses a peerled approach with staff and volunteers who have personal experience with mental health issues. The funding has established a ‘Pathways to Employment’ service in new areas of Bradford, supporting and empowering people who have experienced mental health challenges into work. The service offers one-to-one support from employment support workers with lived experience of mental health issues and unemployment, and helps clients move towards employment goals. 

## _Smart Works_ 

Smart Works supports unemployed women in Yorkshire by providing career coaching, interview clothing, and job success tools, with a view to boosting women’s confidence and helping them to secure employment. The funding has enabled Smart Works to launch its service in Bradford, addressing specific barriers faced by local women, and establishing a local team that will improve visibility and access to its services, with a long-term goal of embedding the service into the community. 

In 2025, the charities actively helped people on their journey towards employment, with each service carefully and considerately tailored to the city’s needs. 1,060 people were supported through the projects overall in 2025, with 63 going on to employment. 

Throughout the year, the charities have been supported with ongoing management from Society personnel as well as establishing relationships with their dedicated linked Trustee. In September, the 

6 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Trustees’ Report (continued)** 

## **Objectives and activities (continued)** 

Charity facilitated a roundtable discussion with all grantees to foster shared learnings and celebrate impact to date. 

## **Factors affecting achievement of the Charity’s objectives** 

The Trustees consider the below factors to have been relevant in the achievement of the Charity’s objectives for the year: 

|objectives for the year:||
|---|---|
|**Positive Factors**|**Negative Factors**|
|Training of branch and agency staff encouraged<br>customers to opt into the SCBD Scheme.|Bank of England rate changes, resulting in<br>interest rate changes which may affect the<br>pence of interest the charity receives per<br>account.|
|External promotions (including UK wide<br>coverage of charitable donations) during the<br>year.|General pressures on income and households<br>which may deter customers from opting into<br>scheme.|
|Positive publicity following donations made<br>from the recipients of fundingfrom the Charity.|Change in criteria resulting in less eligible<br>nominations to SCBD.|
|Decision framework implemented to enhance<br>impartial and transparent decision making for<br>SCBF Fund.||



There are no significant events that have affected the financial performance and financial position of the charity during the year. 

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning future activities and setting the Donation Policy for the year. The Society’s members and colleagues (who are spread throughout the UK) are encouraged to nominate charitable causes to receive a donation from the Charity. 

## **Financial review** 

## **Achievements and performance** 

The Charity received income of £665,283 (2024: £1,340,090) and spent £784,300 (2024: £387,519) during the year in line with the Charity objectives. The deficit for the year amounted to £119,017 (2024: £952,571 surplus). This deficit is due to planned spending related to the Building Bradford Skills Fund, whilst the income associated with the Fund was recognised last year. The total funds carried forward are £1,039,041 (2024: £1,158,058) which are available for future expenditure as at 31 December 2025. The deficit for the year reduced the reserves of the Charity, though they remain in line with the Reserves Policy on page 8. 

During the year, the Charity made donations of £763,582 (2024: £379,959). These donations align with the Society’s own objectives but have been chosen at the discretion of the Trustees of the Charity. All donations were made to charities, and none made to individuals which is in line with the Charity’s objectives. 

7 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Trustees’ Report (continued)** 

## **Financial review (continued)** 

## **Reserves policy** 

It is the policy of the Charity to maintain holding reserves at a level which considers the relative stability of the source of funds and the active management of all donation processes. The Trustees review the Reserves Policy annually and agreed to hold a minimum of £10,000. 

Holding reserves are those funds which are unrestricted funds which have not been designated for a particular purpose. The Charity’s holding reserves are intended to provide sufficient funds to cover expected administration costs and outstanding commitments. 

The only significant liability recognised by the Charity is the audit fee, which for the year ended 31 December 2025 was £13,518 (2024: £7,560) including VAT. Additional cost for the audit of 2024 annual report and financial statements has been recognised, amounting to £7,200. The audit fee is currently funded by a donation received from the Society. 

The Charity maintained a holding reserves level of £439,041 (2024: 158,058), greater than £10,000 during the year. 

## **Funding and investments** 

The Trustees continue to have the power to invest money in shares, stocks, funds, securities, land, buildings and/or other investments or property, as they think fit. However, it has been their practice to maintain a liquid bank account in order to meet commitments as they fall due, so as to maintain a continuous programme of donations which in turn is matched by an ongoing funding programme, where income is spread over the financial year. 

## **Small Change Big Difference (SCBD)** 

The Charity receives donations primarily from the SCBD scheme which the Society includes as an optional term in most of its savings and mortgage products. SCBD is a scheme promoted by the Society, under which the holders of savings or mortgage accounts agree to transfer to the Charity an amount equivalent to the pence of interest received on a savings account or rounding up to the nearest pound the pence of interest paid on a mortgage account (each donation up to a maximum of 99p, annually, per account). Members of the Society can opt in or out of the SCBD scheme at any time. 

## **Building Bradford Skills Fund** 

Supplementary income is received via a donation from the Society to fund the Building Bradford Skills Fund. This Fund is set up by the Society to support charities that are based in and delivering projects to improve job prospects and overcome barriers to employment in Bradford. It was decided 

8 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Trustees’ Report (continued)** 

## **Financial review (continued)** 

that fewer, but larger, donations to a specific set of charities over the course of 2025-2027 could have a significant impact with each charity chosen undertaking larger projects with the funds donated. A restricted fund has been established in relation to all donations received into and donated out of this fund (other funds detailed above remain unrestricted). Donations will total £1 million over the lifetime of the fund. 

## **Yorkshire Guernsey Limited** 

Following cessation of the trade and operations of Yorkshire Guernsey Limited (‘YGL’) in 2011, and ‑ subsequent processes performed throughout and beyond the 10 year Trust period to return all customer deposits, a residual balance remained in 2025. By agreement between the party responsible for managing the Trust holding the funds from YGL, the Society and the Charity, these remaining funds were donated to the Charity’s SCBD fund during the year. 

## **Disclosure of information to the auditors** 

The Trustees who held office at the date of approval of this Trustees’ Report confirm that, so far as they are aware, there is no relevant audit information of which the Charity’s auditors are unaware, and each Trustee has taken all the steps that they ought to have taken as a Trustee to make themselves aware of any relevant audit information and to establish that the Charity’s auditors are aware of that information. 

## **Plans for future years** 

The Charity plans to continue the activities outlined previously in the forthcoming years, subject to satisfactory funding arrangements and annual reviews of the Donations and Reserves policies. 

The Trustees are mindful of the potential for an impact on the Charity’s income arising from the current economic climate but are satisfied that continuing to operate in line with the Reserves Policy will afford the best chance of prudently managing financial resources. 

The Charity aims to maintain reserves levels at a minimum of £10,000 over the coming years to ensure the Charity meets any liabilities as they fall due. 

The majority of unrestricted funding available to the Charity is generated by the Society’s members through the Small Change Big Difference scheme therefore recommendations of charities to receive support are only accepted from members or employees of the Society. This will continue for the foreseeable future. 

## **SCBD** 

In 2026, the Trustees will continue to work closely with the Society to promote the SCBD scheme with members to increase the number of accounts opted into the scheme and drive further nominations from members and colleagues. In particular, continued training and upskilling of Society colleagues will be carried out to support a greater proportion of eligible nominations within each quarter, following the changes to the Donation Policy in 2025. Ongoing monitoring of SCBD uptake rates across the Society’s network will be carried out to understand where promotion/training efforts can be focussed. 

9 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Trustees’ Report (continued)** 

## **Financial review (continued)** 

The Trustees will continue to evaluate the SCBD Fund to ensure that the nomination process, Donation Policy and priority areas are aligned to the ongoing needs of local communities, in accordance to the Charity’s objectives. 

## **Building Bradford Skills Fund** 

Entering the second year of the Building Bradford Skills Fund, the Charity will support funded organisations to review progress to date, ensuring continued movement from initial set up into consistent delivery, learning, and refinement. This will include reflective assessment of what is working well, where challenges have arisen, and how insights are being used to strengthen delivery and outcomes. Trustees will work alongside charities to develop deeper insight into who the Fund is reaching across Bradford and how individuals are progressing on their journey towards employment. 

Building on the success of grant management in Year 1, Trustees will maintain their linked relationships with individual charities, enabling open dialogue, informed oversight, and shared learning. Society colleagues will continue to provide day to day grant management support, ensuring effective monitoring, proportionate reporting, and responsible use of funds as delivery matures. 

The Trustees confirm that the Charity has complied with section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charities Commission. 

The Trustees have confirmed their intention to re-appoint PricewaterhouseCoopers LLP as the Charity’s auditors. 

Approved by order of the Board of Trustees and signed on behalf of the Board. 


Signed on behalf of the Trustees: N Irving Trustee 8 April 2026 

10 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Statement of Trustees’ Responsibilities** 

The Trustees (who are also Directors of Yorkshire Building Society Charitable Foundation for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulation. 

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have prepared the financial statements in accordance with United Kingdom Accounting Standards, comprising FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, and applicable law (United Kingdom Generally Accepted Accounting Practice). 

Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Statement of Recommended Practice: Accounting and Reporting by Charities (2019); 

- make judgments and estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards, comprising FRS 102, have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

The Trustees are responsible for the maintenance and integrity of the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 


N Irving Trustee 8 April 2026 

11 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Independent auditors’ Report to the members of Yorkshire Building Society Charitable Foundation** 

## **Report on the audit of the financial statements** 

## **Opinion** 

In our opinion, Yorkshire Building Society Charitable Foundation’s financial statements (the “financial statements”): 

- give a true and fair view of the state of the charitable company’s affairs as at 31 December 2025 and of its incoming resources and application of resources, including its income and expenditure, and cash flows for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A, and applicable law); and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

We have audited the financial statements, included within the Annual Report and Financial Statements (the “Annual Report”), which comprise: the Balance Sheet as at 31 December 2025; the Statement of Financial Activities (incorporating an income and expenditure account) and the Statement of Cash Flows for the year then ended; and the notes to the financial statements, which include a description of the significant accounting policies. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities under ISAs (UK) are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## _Independence_ 

We remained independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, which includes the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. 

## **Conclusions relating to going concern** 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the charitable company's ability to continue as a going concern. 

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. 

12 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Independent auditors’ Report to the members of Yorkshire Building Society Charitable Foundation (continued)** 

## **Report on the audit of the financial statements (continued)** 

## **Reporting on other information** 

The other information comprises all of the information in the Annual Report other than the financial statements and our auditors’ report thereon. The Trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except to the extent otherwise explicitly stated in this report, any form of assurance thereon. 

In connection with our audit of the financial 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 our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether there is a material misstatement of 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 required to report that fact. We have nothing to report based on these responsibilities. 

With respect to the Trustees' Report, we also considered whether the disclosures required by the UK Companies Act 2006  and Charities Act 2011 have been included. 

Based on our work undertaken in the course of the audit, the Companies Act 2006 requires us also to report certain opinions and matters as described below. 

## _Trustees’ Report_ 

In our opinion, based on the work undertaken in the course of the audit, the information given in the Trustees' Report, which includes the Directors’ Report prepared for the purposes of company law, for the year ended 31 December 2025 is consistent with the financial statements and has been prepared in accordance with applicable legal requirements. 

In light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we did not identify any material misstatements in the Trustees' Report. 

## **Responsibilities for the financial statements and the audit** 

## _Responsibilities of the Trustees for the financial statements_ 

As explained more fully in the Statement of Trustees' Responsibilities, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the applicable framework and for being satisfied that they give a true and fair view. The Trustees are also responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

13 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Independent auditors’ Report to the members of Yorkshire Building Society Charitable Foundation (continued)** 

## **Report on the audit of the financial statements (continued)** 

## **Responsibilities for the financial statements and the audit (continued)** 

## _Auditors’ responsibilities for the audit of the financial statements_ 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. 

Based on our understanding of the charitable company and industry, we identified that the principal risks of non-compliance with laws and regulations related to the Charities Act 2011, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting of inappropriate journals. Audit procedures performed by the engagement team included: 

- Identifying and testing journals that meet the higher risk criteria; 

- Incorporation of an element of unpredictability in our testing through altering the nature, timing 

- and/or extent of work performed; 

- Review minutes of meetings of the Board of Trustees; and 

- Enquiries of management and those charged with governance including consideration of known or suspected instances of non-compliance with laws and regulations. 

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. 

A further description of our responsibilities for the audit of the financial statements is located on the FRC’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors’ report. 

14 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Independent auditors’ Report to the members of Yorkshire Building Society Charitable Foundation (continued)** 

## **Report on the audit of the financial statements (continued)** 

## **Responsibilities for the financial statements and the audit (continued)** 

## _Use of this report_ 

This report, including the opinions, has been prepared for and only for the charitable company’s members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing. 

## **Other required reporting** 

## **Companies Act 2006 exception reporting** 

Under the Companies Act 2006 we are required to report to you if, in our opinion: 

we have not obtained all the information and explanations we require for our audit; or 

- adequate accounting records have not been kept by the charitable company, or returns adequate for our audit have not been received from branches not visited by us; or 

- certain disclosures of Trustees’ remuneration specified by law are not made; or 

- the charitable company financial statements are not in agreement with the accounting records and returns. 

We have no exceptions to report arising from this responsibility. 

## **Entitlement to exemptions** 

Under the Companies Act 2006 we are required to report to you if, in our opinion, the Trustees were not entitled to: prepare financial statements in accordance with the small companies regime; and take advantage of the small companies exemption from preparing a strategic report. We have no exceptions to report arising from this responsibility. 


Natalia Golubeva (Senior Statutory Auditor) 

for and on behalf of PricewaterhouseCoopers LLP Chartered Accountants and Statutory Auditors Leeds 8 April 2026 

15 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Financial Statements** 

## **Statement of Financial Activities** 

|**for theyear ended 31 December 2025**||**2025**|||**2024**|
|---|---|---|---|---|---|
||**Unrestricted**<br>**Funds**|**Restricted**<br>**Funds**|**Total**<br>**Funds**||**Total**<br>**Funds**|
|**Note**|**£**|**£**|**£**||**£**|
|||||||
|**Income from:**||||||
|Donations and legacies<br>3|662,028|-|662,028||1,335,162|
|Investments<br>4|3,255|-|3,255||4,928|
|**Total income**|**665,283**|**-**|**665,283**||**1,340,090**|
|||||||
|**Expenditure on:**||||||
|Other expenditure<br>5|(20,718)|-|(20,718)||(7,560)|
|Charitable activities<br>6|(363,582)|(400,000)|(763,582)||(379,959)|
|**Total expenditure**|**(384,300)**|**(400,000)**|**(784,300)**||**(387,519)**|
|||||||
|**Net movement in funds**|280,983|(400,000)|(119,017)||952,571|
|||||||
|**Total funds brought**<br>**forward**<br> 9|158,058|1,000,000|1,158,058||205,487|
|||||||
|**Total funds carried forward**|**439,041**|**600,000**|**1,039,041**||**1,158,058**|



The full analysis of the prior year income and expenditure between unrestricted and restricted income can be found in Note 12. 

The Statement of Financial Activities includes all gains and losses recognised in the year (2024: £nil). 

The results are wholly derived from the continuing operations of the Charity. 

The Statement of Financial Activities incorporates an income and expenditure account and the net movement in funds represents the net income for the year. 

The notes on pages 19 to 29 form part of these financial statements. 

16 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Balance Sheet** 

|**Balance Sheet**|||
|---|---|---|
|**as at 31 December 2025**<br>**Note**|**2025**<br>**£**|**2024**<br>**£**|
||||
||||
|**Non-current assets**|||
|Prepayments and accrued income<br>8|267,123|600,000|
|**Current assets**|||
|Other debtors<br>8|46,198|38,750|
|Prepayments and accrued income<br>8|405,755|218,110|
|Cash at bank and in hand|379,699|347,508|
|**Total assets**|**1,098,775**|**1,204,368**|
|**Current liabilities**|||
|Creditors - amount falling due within one year|(13,536)|(7,560)|
|Other liabilities|(46,198)|(38,750)|
|**Total liabilities**|**(59,734)**|**(46,310)**|
||||
|**Net current assets**|771,918|558,058|
||||
|**Net assets**|1,039,041|1,158,058|
|**Funds**|||
|Unrestricted funds<br> 9|439,041|158,058|
|Restricted funds<br>9|600,000|1,000,000|
|**Total funds**|**1,039,041**|**1,158,058**|



The notes on pages 16 to 18 form part of these financial statements. 

These accounts have been prepared in accordance with the special provisions relating to small entities regime in accordance with the provisions of FRS102 Section 1 A – Small Entities. 

The financial statements were approved and authorised for issue by the Trustees on 8 April 2026 and signed on its behalf by 


N Irving Trustee 

Registered company number: 03545437 Registered charity number: 1069082 

17 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Statement of Cash Flows** 

|**Statement of Cash Flows**|||
|---|---|---|
|**for the year ended 31 December 2025**|**2025**|**2024**|
||**£**|**£**|
|**Cash flows from operating activities**|||
|Net (expense)/income for the year|(119,017)|952,571|
|Adjustment for:|||
|Interest income|(3,255)|(4,928)|
|Changes in operating assets and liabilities:|||
|Increase in creditors|5,976|360|
|Decrease/(increase) in accrued income|145,232|(788,434)|
|Increase/(decrease) in other liabilities|7,448|(53,055)|
|(Increase)/decrease in other debtors|(7,448)|53,055|
|**Net cash flowsgenerated from operating activities**|**28,936**|**159,569**|
|**Cash flows from investing activities**|||
|Interest received|3,255|4,928|
|**Net cash flowsgenerated by investing activities**|**3,255**|**4,928**|
||||
|**Change in cash and cash equivalents in theyear**|**32,191**|**164,497**|
|Cash and cash equivalents at the beginningof theyear|<br>347,508|183,011|
|**Cash and cash equivalents at the end of theyear**|**379,699**|**347,508**|




Cash and cash equivalents consists of cash at bank and in hand. 

The notes on pages 19 to 29 form part of these financial statements. 

18 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Notes to the financial statements** 

## **1. Significant accounting policies** 

The Yorkshire Building Society Charitable Foundation, a public benefit entity, is incorporated in England and Wales as a company limited by guarantee not having share capital. The Company is domiciled and registered in England. 

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements. 

## **1.1 Basis of preparation** 

The financial statements are prepared under the historical cost convention, in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities (SORP 2019)” applicable in the UK and Republic of Ireland, FRS 102 Section 1A, and in accordance with the Companies Act 2006 and the Charities Act 2011, using consistently applied accounting policies. 

Except where otherwise stated, all figures in the financial statements are presented pounds sterling (£). The financial statements have been prepared on the going concern basis, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. 

The Statement of Cash flows has been prepared in compliance with FRS 102 Section 7 ‘Statement of Cash flows’. The cash flow has been presented under the indirect method. 

The Statement of Cash Flows presents cash flows from operating and investing activities. The Charity did not undertake any financing activities in the year. The net cash flows from all three categories are totalled to show the movement in cash and cash equivalents during the year, which is then used to reconcile cash and cash equivalents. 

## **1.2 Going concern** 

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue for a period of not less than 12 months from the date of approval of the accounts. Accordingly, the financial statements have been prepared on the going concern basis. 

## **1.3 Accounting developments** 

## **Standards issued but not yet effective** 

FRS 102 received an update in March 2024 that will be effective for accounting periods beginning on or after 1 January 2026. These updates aimed to more closely align FRS 102 with IFRS reporting standards. It is not expected that these amendments will impact the Charity’s accounts. 

## **1.4 Unrestricted funds** 

The use of these funds has not been restricted to a particular purpose by the donors or their representatives. 

## **1.5 Restricted funds** 

Restricted funds comprise of funds that have been restricted for a particular purpose or programme by the donors or their representatives. 

19 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Notes to the financial statements (continued)** 

## **1. Material accounting policies (continued)** 

## **1.6 Income** 

Investment income is recognised on an accruals basis. Donations and legacies are credited to the Statement of Financial Activities when there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Other income is only recognised once receipt is expected and is reliably measurable. Any related tax credits are accounted for on an accruals basis. 

## **1.7 Expenditure** 

Expenditure is included on an accruals basis. Governance costs are those costs incurred in meeting the Charity’s statutory and regulatory obligations and under FRS 102 are included within other expenditure on the Statement of Financial Activities. 

No Trustee expenses have been paid in the year 2025 (2024: £nil). 

## **1.8 Donations payable** 

It is considered that there is a constructive obligation to make the donation once the amount has been approved and the recipient informed of this. Once these criteria are met, the donations are accrued for and subsequently paid to Charities Trust who administer and distribute the donations to the end-charities. 

Balances paid over to Charities Trust but not yet paid on to the end-charities are classified as “Other debtors” on the balance sheet, with a corresponding liability to the end-charity held in “Other liabilities”. 

## **1.9 Financial instruments** 

The following accounting policies have applied in the preparation of the financial statements. 

- **(i) Accrued income** – Accrued Income amounts due in under one year and relates wholly to balances due from Yorkshire Building Society in relation to period end SCBD income. These are measured on an accruals basis. 

- **(ii) Cash at bank and in hand** – Cash at bank and in hand includes cash held at bank. All cash balances are immediately available. Amounts are held at amortised cost. 

- **(iii) Other debtors** – Other debtors represents cash balances held at Charities Trust on behalf of the Charity. Cash balances held at Charities Trust relate to approved donations awaiting payment to recipients. Amounts are held at amortised cost. 

- **(iv) Creditors** – Creditors relate wholly to amounts owed in respect of audit fees. Amounts are held at amortised cost. 

- **(v) Other liabilities** – Other liabilities represents donations approved awaiting payment to recipients. Amounts are held at amortised cost. 

20 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Notes to the financial statements (continued)** 

## **1.10 Taxation** 

The Charity is a registered charity and is thus exempt from tax on income and gains falling within chapters 2 and 3 of part 11 of the Corporation Tax Act 2010 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to charitable objects. No tax charges have arisen. 

Irrecoverable VAT is not separately analysed and is charged to the statement of financial activities when the expenditure to which it relates is incurred and is allocated as part of the expenditure to which it relates. 

## **2. Critical accounting judgements and key sources of estimation uncertainty** 

The Charity makes judgements in applying its accounting policies that may have a significant impact on the amounts recognised in the financial statements. In addition, estimates and assumptions are used which could affect the reported amounts of assets and liabilities in the next financial year. There are no critical judgements or key sources of estimation uncertainty in these financial statements. 

## **3. Donations and Legacies** 

|Small Change Big Difference (SCBD) income<br>Payroll Giving income<br>Other donations from Yorkshire Building Society<br>Building Bradford Skills Fund<br>Other income|**2025**<br>**£**<br>437,044<br>160<br>20,718<br>-<br>204,106<br>**662,028**|**2024**<br>**£**<br>404,670<br>56<br>7,560<br>900,000<br>22,876|
|---|---|---|
|||**1,335,162**|



## **Plans for future years** 

SCBD is a scheme promoted by Yorkshire Building Society under which the holders of savings or mortgage accounts agree to the transfer to the Charity an amount equivalent to the pence of interest received on a savings account or rounding up to the nearest pound the pence of interest paid on a mortgage account (each donation up to a maximum of 99p, annually, per account). 

Payroll giving income is voluntary donations that are made by Yorkshire Building Society employees from their gross salary. 

21 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Notes to the financial statements (continued)** 

## **4. Investment income** 

|Bank interest<br>**5. Other expenditure**<br>Governance costs – audit fees (including VAT)|**2025**<br>**£**<br>3,255<br>**3,255**<br>**2025**<br>**£**<br>20,718<br>**20,718**|**2024**<br>**£**<br>4,928<br>**4,928**<br>**2024**<br>**£**<br>7,560<br>**7,560**|
|---|---|---|



The Charity also received an additional £20,718 (2024: £7,560) from the Society to cover the audit fee of £11,265 (2024: £6,300) excluding VAT, as well as additional cost from the prior year of £7,200. The money received from the Society is considered as donation income by the Charity. No non-audit services were provided by the Charity's auditors during the year. 

## **6. Charitable activities** 

|Charitable donations|**2025**<br>**£**<br>763,582<br>**763,582**|**2024**<br>**£**<br>379,959|
|---|---|---|
|||**379,959**|



The Charity made 240 (2024: 389) charitable donations to charities (236 via SCBD and 4 via the Building Bradford Skills Fund). No donations were made to individuals in the year. Note 7 provides a breakdown of donations of £2,000 and over made to individual charities during the year. 

22 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Notes to the financial statements (continued)** 

## **7. Donations approved in the year to charitable institutions of £2,000 and over** 

The following shows donations approved valuing £2,000 and over during the year. 

||**2025**|
|---|---|
|Aberdeen Association Of Social Service|£2,000|
|Aberdeen Cyrenians Ltd|£2,000|
|Action Against Stalking|£2,000|
|Aishahs Food Charity|£2,500|
|Alford Hub|£2,000|
|Amazing Graze|£2,000|
|Angy Care Health Foundation|£2,500|
|Back On Track Manchester Ltd|£2,000|
|Bairnecessities Baby Bank|£2,500|
|Base 51|£2,500|
|Better Leeds Communities|£2,000|
|Bradford Curry Project|£2,000|
|Bradford Foodbank|£52,306|
|Break|£2,500|
|Bungay Community Support|£2,500|
|Bury Drop In|£2,000|
|Canterbury Umbrella|£2,500|
|Caterham Foodbank|£2,500|
|Catholic Care (Diocese Of Leeds)|£2,500|
|Cherished|£2,500|
|Child's Vision|£2,000|
|Chronic Lymphocytic Leukaemia Support Association UK (CLLSA)|£2,160|
|Community Lives Matter|£2,500|
|Compassionate Inverclyde|£2,000|
|Crawley CAP Centre|£2,500|
|Cromer Cares|£2,000|
|Dial Leeds Ltd|£2,500|
|Doreens Hull|£2,500|
|Dorset Search Dogs|£2,000|
|Dundee Starter Packs Scio|£2,500|
|East Cleveland Youth Housing Trust|£2,500|
|Emmaus U.K.|£2,500|
|Everton And Anfield Together|£2,500|
|Ex-Services Home Mess Sheffield|£2,000|
|Families Matter At HURC|£2,500|
|Feel Good Factor (Leeds)|£2,000|
|Flourishing Families Leeds|£2,000|
|Footprints In The Community|£2,000|
|Glasgow City Mission|£2,000|
|Gloucester Nightstop|£2,000|
|Happy Days UK|£2,000|
|Helm Training|£2,000|
|Help Bristol's Homeless Charity|£2,000|



23 



|**Yorkshire Building Society Charitable Foundation**<br>|**Annual Report and Financial Statements**|**Annual Report and Financial Statements**|
|---|---|---|
|**Registered Number: 03545437**|**for the year ended 31 December 2025**||
|Home-Start Craven||£2,500|
|Home-Start Crawley, Horsham And Mid Sussex||£2,000|
|Home-Start Kirklees||£2,500|
|Hope Food North Birmingham||£2,500|
|Hope For The Homeless (Plymouth)||£2,500|
|Hull Women's Aid||£3,500|
|Just Bee Productions||£2,500|
|Keeping Abreast||£2,000|
|Kettering Foodbank||£2,500|
|Laira Green PTA||£2,000|
|Leek Town Centre Youth Project||£2,240|
|Life Centre Stourbridge||£2,500|
|Lower Grange Community Association||£41,056|
|Luv Preston||£2,500|
|M.A.S.H CIO||£2,500|
|MAEcare||£2,000|
|Maidstone Churches Winter Shelter||£2,500|
|Mamacita Foundation||£2,500|
|Manna House (Cumbria)||£2,000|
|Michael House||£2,000|
|Middle Park Community Centre Limited||£2,500|
|My Shining Star||£2,500|
|New Life Church (Suffolk) - Stowmarket & Area Foodbank||£2,500|
|Newcastle Vision Support||£2,500|
|Next Steps Mental Health Resource Centre||£2,500|
|Nightwatch||£2,500|
|North Norfolk Foodbank||£2,500|
|North Tyneside Disability Forum Ltd||£2,000|
|Northumberland Domestic Abuse Services||£2,000|
|Oak Grove Community Church||£2,500|
|Oban Mountain Rescue||£2,000|
|One Big Family - Helping The Homeless||£2,000|
|One25 Limited||£2,500|
|Portsmouth Hospitals Charity||£2,000|
|Promoting Children In Plymouth||£2,500|
|Reflect||£2,000|
|Riccall And District Resilience Plan Group||£2,000|
|Rickmansworth Foodbank||£2,500|
|Ripon Men's Shed Charitable Incorporated Organisation||£2,000|
|Scarborough Social Action Centre (St Mary's With Holy Apostles)||£2,500|
|Six Counties Kidney Patients' Association||£2,000|
|Small Woods Association||£2,500|
|Smart Works Leeds||£169,476|
|St Anthonys Project For Homeless Addicts||£2,500|
|St Giles Trust||£2,000|
|St Vincent De Paul Society (England And Wales) - Leeds||£2,000|
|Sunrise Partnership||£2,000|
|Sussex Street Christian Centre||£2,500|
|Swansea MAD||£2,000|
|The Cellar Trust||£137,162|
|The Cornelius Fund For The Relief Of The Effects Of Homelessness||£2,000|



24 



|**Yorkshire Building Society Charitable Foundation**<br>|**Annual Report and Financial Statements**|**Annual Report and Financial Statements**|
|---|---|---|
|**Registered Number: 03545437**|**for the year ended 31 December 2025**||
|The Crosby Community Association||£2,000|
|The Elm Foundation Ltd||£2,500|
|The Food Chain (UK) Limited||£2,000|
|The Food Exchange||£2,500|
|The House At Glasgow Children’s Hospital Limited||£2,434|
|The Lewis Foundation||£2,500|
|The Medway Street Angels||£2,000|
|The National Youth Advocacy Service||£2,500|
|The Open Door (Taunton)||£2,500|
|The Parochial Church Council Of The Ecclesiastical Parish Of Cowley St John, Oxford||£2,500|
|The Parochial Church Council Of The Ecclesiastical Parish Of St Edward King &<br>Martyr Castle Donington||£2,500|
|The Philadelphia Network Limited - Sheffield S6 Foodbank||£2,500|
|The Thrive Project||£2,500|
|Tiny Hands Baby Bank Yorkshire||£2,500|
|Tippy Toes Baby Bank||£2,500|
|Turning Lives Around Ltd||£2,500|
|We Are Queensbury Foodbank Community Hub||£4,500|
|Worcestershire Breast Unit Haven||£2,500|
|Wythenshawe Safespots Charitable Incorporated Organisation||£2,000|
|Young Devon||£2,500|



The following shows donations approved valuing £2,000 and over during the prior year. 

||**2024**|
|---|---|
|Cornwall Blood Bikes|£ 2,000|
|Southport Soup Kitchen|£ 2,000|
|The Crossroads Project|£ 2,500|
|Cartwheel Youth And Community Centre|£ 2,000|
|Trinity Mission Castleford CIO|£ 2,000|
|The Caribbean Collective|£ 2,000|
|Horizons Plymouth|£ 2,000|
|Greenwich And Bexley Community Hospice Limited|£ 2,056|
|Exeter Leukaemia Fund CIO|£ 2,500|
|Compassion Acts|£ 2,000|
|The E C Roberts Centre|£ 2,000|
|Kendal Mountain Search & Rescue Team|£ 2,000|
|Homeless Street Angels Limited|£ 2,000|
|Shrublands Youth And Adult Centre Charitable Trust|£ 2,000|
|Tameside East Foodbank|£ 2,000|
|Northorpe Hall Child & Family Trust|£ 2,000|
|Vida Sheffield|£ 2,000|
|The Message Trust|£ 2,000|
|Inverness Foodstuff|£ 2,000|
|Dad's House|£ 2,000|
|The Osborne Trust|£ 2,250|
|Support To Recovery|£ 2,500|
|Feltham Food Bank|£ 2,500|
|Mothershare|£ 2,500|
|The Spires Centre|£ 2,500|



25 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

|Leeds Baby Bank|£ 2,500|
|---|---|
|Inspire Futures Foundation|£ 2,500|
|The Bradford Soup Run|£ 2,500|
|The Sick Children's Trust|£ 2,500|
|Bradford Foodbank|£17,004|



For 2025, there were 114 donations (2024: 30) approved valuing £2,000 and over, totalling £654,334 (2024: £80,310). 

## **8. Prepayments and Debtors** 

|Prepayments and accrued income<br>Other debtors - Funds held at Charities Trust<br>**Total Debtors**|**2025**<br>**£**<br>672,878<br>46,198<br>**719,076**|**2024**<br>**£**<br>818,110<br>38,750|
|---|---|---|
|||**856,860**|



The prepayments and accrued income recognised in 2025 totals £672,878 (2024: £818,110). Of this, £533,334 (2024: £800,000) relates to the funds committed by Yorkshire Building Society to the Building Bradford Skills Fund. 

## **9. Analysis of net assets between funds** 

|Funds balances as 31<br>December 2025 are<br>represented by:<br>Current assets<br>Current liabilities<br>Non-current assets<br>**Total net assets**|**Unrestricted**<br>**Funds**<br>£<br>498,775<br>(59,734)<br>-<br>**439,041**|**Restricted**<br>**Funds - Building**<br>**Bradford Skills**<br>**Fund**<br>£<br>332,877<br>-<br>267,123<br>**600,000**|**Total**<br>£<br>831,652<br>(59,734)<br>267,123|
|---|---|---|---|
||||**1,039,041**|



26 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Notes to the financial statements (continued)** 

## **9. Analysis of net assets between funds (continued)** 

|Funds balances as 31<br>December 2024 are<br>represented by:<br>Current assets<br>Current liabilities<br>Non-current assets<br>**Total net assets**<br>**10. Charity Funds**<br>**Balance at**<br>**1 January**<br>**2025**<br>**£**<br>**Unrestricted**<br>**Funds**<br>Real Help with<br>Real Life Fund<br>-<br>All other<br>unrestricted<br>funds<br>158,058<br>**Restricted**<br>**Funds**<br>Building<br>Bradford Skills<br>Fund<br>1,000,000<br>1,158,058|**Unrestricted**<br>**Funds**<br>£<br>204,368<br>(46,310)<br>-<br>**158,058**<br>**Income**<br>**Expenditure**<br>**£**<br>**£**<br>-<br>-<br>665,283<br>(384,300)<br>(400,000)<br>665,283<br>(784,300)|**Unrestricted**<br>**Funds**<br>£<br>204,368<br>(46,310)<br>-<br>**158,058**<br>**Income**<br>**Expenditure**<br>**£**<br>**£**<br>-<br>-<br>665,283<br>(384,300)<br>(400,000)<br>665,283<br>(784,300)|**Restricted**<br>**Funds - Building**<br>**Bradford Skills**<br>**Fund**<br>£<br>400,000<br>-<br>600,000|**Restricted**<br>**Funds - Building**<br>**Bradford Skills**<br>**Fund**<br>£<br>400,000<br>-<br>600,000||**Total**<br>£<br>604,368<br>(46,310)<br>600,000<br>**1,158,058**<br>**Gains/**<br>**(Losses)**<br>**Balance at**<br>**31**<br>**December**<br>**2025**<br>**£**<br>**£**<br>-<br>-<br>-<br>439,041<br>-<br>600,000<br>-<br>1,039,041|**Total**<br>£<br>604,368<br>(46,310)<br>600,000<br>**1,158,058**<br>**Gains/**<br>**(Losses)**<br>**Balance at**<br>**31**<br>**December**<br>**2025**<br>**£**<br>**£**<br>-<br>-<br>-<br>439,041<br>-<br>600,000<br>-<br>1,039,041|
|---|---|---|---|---|---|---|---|
|||||**1,000,000**||||
|||||**Transfers**<br>**(out)/in**<br>**£**<br>-<br>-<br>-<br>-||**Gains/**<br>**(Losses)**<br>**£**<br>-<br>-<br>-<br>-||
|||(400,000)|||||600,000|
|||(784,300)|||||1,039,041|



27 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Notes to the financial statements (continued)** 

## **10. Charity Funds (continued)** 

|**Unrestricted**<br>**Funds**<br>Real Help with<br>Real Life Fund<br>All other<br>unrestricted<br>funds<br>**Restricted**<br>**Funds**<br>Building<br>Bradford Skills<br>Fund|**Balance at**<br>**1 January**<br>**2024**<br>**£**<br>100,000<br>105,487<br>-<br>205,487|**Balance at**<br>**1 January**<br>**2024**<br>**£**<br>100,000<br>105,487<br>-<br>205,487|**Balance at**<br>**1 January**<br>**2024**<br>**£**<br>100,000<br>105,487<br>-<br>205,487|**Income**<br>**£**<br>100,000<br>440,090<br>800,000<br>1,340,090|**Expenditure**<br>**£**<br>-<br>(387,519)<br>-<br> (387,519)|**Transfers**<br>**(out)/in**<br>**£**<br>(200,000)<br>-<br>200,000<br>-|**Gains/**<br>**(Losses)**<br>**£**<br>-<br>-<br>-<br>-|**Balance at**<br>**31**<br>**December**<br>**2024**|
|---|---|---|---|---|---|---|---|---|
|||||||||**£**|
||||||||||
|||||||||-|
|||||||||158,058|
||||||||||
||||||||||
|||||||||1,000,000|
|||||||||1,158,058|
|||205,487|||||||



The Restricted Fund will be used to fulfil obligations related to the Building Bradford Skills Fund, which will support charities delivering employability projects in Bradford. The funds that comprise the Restricted Fund can only be used for this purpose. Funds were transferred from the Unrestricted Fund to Restricted Fund because of the Trustees decision to repurpose the Real Help with Real Life Fund. 

## **11. Related party transactions** 

During the year the Charity received donations of £266,666 (2024: £100,000) from the Society, with a further £533,334 due from the Society over the next 2 years as part of the Building Bradford Skills Fund. It also received £437,044 (2024: £404,670) during the year from the Society’s SCBD scheme (see Note 3), £nil (2024: £22,876) from the Community Investment Fund, £160 (2024: £56) of Payroll Giving, £204,106 (2024: £nil) related to funds from Yorkshire Guernsey Limited and an additional £20,718 (2024: £7,560) to cover the audit fee (see Note 5). The Society provides administration services under a Framework Agreement; the cost of services provided is considered immaterial. There are no employees of the Charity. The Trustees do not receive remuneration (2024: £nil). Yorkshire Building Society is considered to be a related party. 

28 



**Yorkshire Building Society Charitable Foundation Registered Number: 03545437** 

**Annual Report and Financial Statements for the year ended 31 December 2025** 

## **Notes to the financial statements (continued)** 

## **12. Prior year analysis of unrestricted and restricted income and expenditure** 

|||**2024**|||**2023**|
|---|---|---|---|---|---|
||**Unrestricted**<br>**Funds**|**Restricted**<br>**Funds**|**Total**<br>**Funds**||**Total**<br>**Funds**|
|**Note**|**£**|**£**|**£**||**£**|
|||||||
|**Income from:**||||||
|Donations and legacies<br>3|535,162|800,000|1,335,162||465,626|
|Investments<br>4|4,928|-|4,928||3,469|
|**Total income**|**540,090**|**800,000**|**1,340,090**||**469,095**|
|||||||
|**Expenditure on:**||||||
|Other<br>5|(7,560)|-|(7,560)||(7,200)|
|Charitable activities<br>6|(379,959)|-|(379,959)||(319,008)|
|**Total expenditure**|**(387,519)**|**-**|**(387,519)**||**(326,208)**|
|||||||
|Transfer between funds|(200,000)|200,000|-||-|
|**Net movement in funds**|(47,429)|1,000,000|952,571||142,887|
|||||||
|**Total funds brought**<br>**forward**<br> 9|205,487|-|205,487||62,600|
|||||||
|**Total funds carried forward**|**158,058**|**1,000,000**|**1,158,058**||**205,487**|



This note forms an integral part of the financial statements and should be read in conjunction with the Statement of Financial Activities for the year ended 31 December 2025 on page 16. 

## **13. Events after the end of the reporting period** 

There are no subsequent events after the reporting period. 

29