## **BALDWIN’S BRIDGE TRUST**
## **FINANCIAL STATEMENTS**
**31 MARCH 2025**
**BALDWIN’S BRIDGE TRUST FINANCIAL STATEMENTS 31 MARCH 2025**
Contents **Page** REFERENCE AND ADMINISTRATIVE DETAILS REPORT OF THE TRUSTEES 2 – 4 REPORT OF THE INDEPENDENT AUDITORS STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET NOTES TO THE FINANCIAL STATEMENTS 10 – 15
**BALDWIN’S BRIDGE TRUST FINANCIAL STATEMENTS 31 MARCH 2025**
Baldwin’s Bridge Trust is governed by a scheme granted by the Charity Commissioners for England and Wales dated 24 February 1999. It is registered with the Charity Commissioners with number 1075251 and the principal objects as noted in the Report of the Trustees.
The trustees have the power (1) to sell, lease or otherwise dispose of land vested in them but only so far as is not required for use for the objects of the Charity and (2) to sell, lease or otherwise dispose of all of the Charity’s property.
Baldwin’s Bridge Trust is constituted as an unincorporated association.
|**ADDRESS OF THE CHARITY:**|**ADDRESS OF THE CHARITY:**|**Austen Leigh and Baldwin Institute**|
|---|---|---|
|||**Eton Court**|
|||**Eton**|
|||**Berkshire SL4 6BY**|
|**TRUSTEES:**|**NOMINATED**|**M Hayes-Powell**|
|||**S Evans**|
|||**D Lee**|
|||**R Maher**|
||**LIFE**|**T Gyngell**|
|||**S Evans**|
|||**L Tarbox**|
|||**P Martin**|
|||**J Slipper (Bridgemaster)**|
|||**P Eaton**|
|||**J Lovell**|
|||**M Cadwallader**|
|||**M Leach**|
|**BANKERS:**||**Barclays Bank Plc**|
|||**Leicester**|
|||**LE87 2BB**|
|**INDEPENDENT AUDITORS:**||**Edwin Smith**|
|||**Chartered Accountants**|
|||**32 Queens Road**|
|||**Reading RG1 4AU**|
|**PROPERTY AGENTS/SOLICITOR**||**Astro Projects Ltd t/a Redwoods**|
|**OFFICERS:**||**S Milne – Clerk to the trustees**|
|||**E Leeson – Treasurer**|
1
**BALDWIN’S BRIDGE TRUST REPORT OF THE TRUSTEES 31 MARCH 2025**
## **1. STRUCTURE, GOVERNANCE AND MANAGEMENT**
The trustees, who are shown on page 1, served on the board throughout the year or as otherwise indicated.
Nominated trustees must be appointed by Eton Town Council. The appointment of a life trustee must be made at a special meeting.
A trustee will cease to be a trustee if he or she (i) is disqualified from acting (ii) is absent without permission of the trustees from all their meetings held within a period of twelve months and the trustees resolve that his or her office be vacated and (iii) gives not less than one months ’notice in writing of his or her intention to resign.
On appointment trustees are given a copy of “The essential trustee: what you need to know” (CC3), a Charity Commission publication.
The objects of the Charity are being met by formal meetings of the trustees of which at least four must be held in each calendar year. No business can be transacted at a meeting unless there are at least five trustees present. The trustees are of the opinion that the financial statements comply with current statutory requirements and the Trust’s governing documents.
## **2. OBJECTIVES AND ACTIVITIES**
The objects of the Charity are:
- (a) to provide, maintain and repair ‘Baldwin’s Bridge’ Eton; and
- (b) to promote such other charitable purposes for the general benefit of the inhabitants of the parishes of Eton and Eton Wick as the trustees think fit. In furtherance of the above the trustees may provide and maintain an institute for use by the inhabitants of the parishes of Eton and Eton Wick for any charitable purpose, including use for (i) meetings, lectures and classes and (ii) other forms of recreation and leisure time occupation.
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.
During the year all requests received for grants were considered in line with the guidance on public benefit.
The main objectives for the year were to maintain and strengthen the assets of the Trust so that its charitable objects could be met. The trustees ’strategy for attaining these objectives continued to be the enhancement of its properties.
## **3. GRANT MAKING POLICY**
The trustees consider requests for grants at their meetings and will decide on an individual case on merit in accordance with the objectives of the Charity.
2
**BALDWIN’S BRIDGE TRUST REPORT OF THE TRUSTEES 31 MARCH 2025**
## **4. ACHIEVEMENTS AND PERFORMANCE**
Total income for the year was £308,547 an increase of £16,698, as a result of higher rental yields on the Trusts property and Hall lettings. Expenditure on grants and donations was £61,625 an increase of £10,295 on the previous year due to a donation of £20,000 to Eton Town Council for a Pavilion. Property costs during the year saw a decrease of £5,857 as a result of reduced building maintenance.
The Trust’s investments benefited from dividends reinvested of £33,762 with an unrealised gain of £32,606 as a result of market movements. The investments closed at £9,759,525 with an increase of £66,368 over last year.
The insurance cover on Baldwin’s Bridge currently stands at £10.3m.
## **5. FINANCIAL REVIEW, INVESTMENT POLICY AND RESERVES**
Net incoming resources (before gains/losses on investments) of £56,301 compared with £39,875 last year for the reasons stated above.
Total net assets were £10,038,391 this was an increase of £88,907.
The value of the UK quoted investments has increased to £794,425 as a result of market movements. The Trustees do not currently have a reserves policy, but are satisfied that the net assets available (cash and liquid investments totaling £271,399 and no external debt) to the Trust are adequate to fulfil its obligations over the next twelve months from the date of signing the accounts.
## **6. RISKS**
The trustees have considered the specific risks facing the Charity and would summarise them as being:
- Continuity of income from rent and investments. Rents are reviewed on the basis of agreed lease arrangements and in conjunction of professional advice and the investments are also reviewed regularly.
- Maintenance and security of the properties held by the Charity. The properties are regularly reviewed and regular maintenance and repairs performed as necessary, and all properties are adequately insured, and the level of insurance is reviewed on a regular basis.
- Financial protection of the Baldwin’s Bridge against damage which might affect the entrance to Eton or fall outside the terms of the existing insurance.
The trustees believe that appropriate steps have been taken and are taken throughout the year to mitigate the major risks to which the Charity is exposed.
## **7. FUTURE PLANS**
The main objectives for the coming year are to maintain and strengthen the assets of the Trust so that its charitable objects can be met.
Given the age of the majority of the trust’s property, expenditure on maintenance will continue for the foreseeable future.
3
**BALDWIN’S BRIDGE TRUST REPORT OF THE TRUSTEES 31 MARCH 2025**
## **8. STATEMENT OF TRUSTEES RESPONSIBILITIES**
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the Charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:
- select suitable accounting policies and then apply them consistently;
- observe the method and principles of the Charities SORP (FRS102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any 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 Charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity and which enable them to ascertain the financial position of the Charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, and the provisions of the Trust’s governing documents. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **9. INDEPENDENT AUDITORS**
Edwin Smith Chartered Accountants of Reading were appointed to undertake an independent audit of the Trust’s accounts to 31 March 2025. The reappointment of Edwin Smith as independent auditors will be put to a future trustees meeting.
The trustees consider that the accounts comply with current statutory requirements and the Charity’s governing documents.
## **Signed on behalf of the Trustees**
James Slipper Trustee
> **Date** 1st October 2025
**Approved by the Trustees**
4
**Independent Auditor’s Report to the Members of Baldwin’s Bridge Trust as at 31 March 2025**
## **Opinion**
We have audited the financial statements of Baldwin’s Bridge Trust (the “Charity”) for the year ended 31 March 2025 which comprise the statement of financial activities, balance sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
•give a true and fair view of the state of the charity’s affairs as at 31 March 2025 and of its incoming resources and application of resources for the year then ended;
•have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
•have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor’s responsibilities for the audit of the financial statements_ section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
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.
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 Charity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the annual report, including the trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
5
**Independent Auditor’s Report to the Members of Baldwin’s Bridge Trust as at 31 March 2025**
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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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 in this regard.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
•the information given in the trustees’ report is inconsistent in any material respect with the financial statements; or
•sufficient accounting records have not been kept; or
- •the financial statements are not in agreement with the accounting records; or
- •we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the trustees’ responsibilities statement [set out on page 4) the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees 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 charity’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 charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
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 auditor’s 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 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.
6
**Independent Auditor’s Report to the Members of Baldwin’s Bridge Trust as at 31 March 2025**
## **Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud.**
The objectives of our audit in respect of fraud, are to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.
Our approach was as follows:
• We obtained an understanding of the legal and regulatory requirements applicable to the Charity and considered that the most significant are the Charities Act 2011, UK financial reporting standards as issued by the Financial Reporting Council and UK taxation legislation.
• We obtained an understanding of how the Charity complies with these requirements by making enquiries with management and those charged with governance. We corroborated our enquiries through our review of the Trustees’ meeting minutes.
• We assessed the susceptibility of the financial statements to material misstatement, including how fraud might occur by considering the key risks impacting the financial statements and documenting the controls that the Charity has established to address risks identified, or that otherwise seek to prevent, deter or detect fraud. In our assessment we considered the risk of management override. Our audit procedures included testing manual journals, including segregation of duties.
• We inquired of management and those charged with governance as to any known instances of noncompliance or suspected non-compliance with laws and regulations.
• Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities.
## **Use of our report**
This report is made solely to the Charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the Charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
## **Edwin Smith**
Chartered Accountants Statutory Auditor
32 Queens Road Reading RG1 4AU
1 October 2025 Dated ________
7
## **BALDWIN’S BRIDGE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025**
|**INCOME AND ENDOWMENTS**
**Investments**
**Charitable activities**
Institute lettings
**Total income**
**EXPENDITURE**
**Charitable activities**
Grants and donations
Institute operating costs
Other expenditure
**Property Costs**
Building repairs and insurance
Property management costs
**Governance costs**
**Total expenditure**
**Net income**
**before investment gains**
Net gains on
investments
**Net Income and**
**net movement in funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Note**|**Unrestricted**
**funds £**|**Endowment**
**funds £**|**Total 2025**
**£**|**Total 2024**
**£**|
|---|---|---|---|---|---|
||**2**
**3**
**4**
**5**
**8**|284,546
-
284,546
24,001
-
24,001|||
270,534
21,315|
|||**308,547**|
**-**|**308,547**|
**291,849**|
|||61,625
61,625
28,232
- 28,232
17,250
-
17,250|||
51,330
30,079
19,415|
|||**107,107**|**-**|**107,107**|**100,824**|
|||78,483
- 78,483
61,290
-
61,290|||
89,218
56,412|
|||**139,773**|
**-**|**139,773**|
**145,630**|
|||||||
|||**5,366**|
**-**|
**5,366**|
**5,520**|
|||||||
|||**252,246**|**-**|
**252,246**|**251,974**|
|||**56,301**
**-**
**56,301**
32,606
-
32,606
**88,907**
**-**
**88,907**
984,384
8,965,100
9,949,484|||**39,875**
6,724
**46,599**
9,902,885|
|||**1,073,291**|
**8,965,100**|
**10,038,391**|**9,949,484**|
The notes on pages 10 to 15 form part of these financial statements.
8
**BALDWIN’S BRIDGE TRUST BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2025**
||**Note**|||**2025**|**2024**|
|---|---|---|---|---|---|
|||||**£**|**£**|
|**Fixed Assets**||||||
|Investments|**8**|||9,759,525|9,693,157|
|**Current Assets**||||||
|Debtors|**9**|||23,526|27,496|
|Cash at Bank and in hand||||271,399|248,580|
|**Total current assets**
**Creditors: amounts falling due**
**within one year**|**10**|294,925
276,076
(16,059)
(19,749)
~~re~~
~~a~~||||
|Net current assets||||278,866|256,327|
|**TOTAL NET ASSETS OR LIABILITIES**||**10,038,391 **
**9,949,484 **
~~[~~||||
|**Funds of the Charity**||||||
|Endowment funds|**11**|||8,965,100|8,965,100|
|Unrestricted funds|**12**|||1,073,291|984,384|
|**Total Funds**||**10,038,391 **
**9,949,484 **
~~[~~||||
|**Approved by the Board of Trustees**|||**Date**|**Date**
1 October 2025|1 October 2025|
|**and signed on its behalf by**||||||
|**James Slipper**
ay\~||||||
|**Bridgemaster**||||||
9
**BALDWIN’S BRIDGE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **1. Accounting policies**
## **1. Basis of accounting**
The accounts (financial statements) have been prepared under the historical cost convention modified to include the revaluation of investment properties and certain financial instruments at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland (FRS 102) issued on 1 January 2019 and the Charities Act 2011.
The trust constitutes a public benefit entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
## **2. Preparation of the financial statements on a going concern basis**
The charity has a reasonable expectation that there are adequate resources to continue in operational existence for the foreseeable future. It has therefore continued to adopt the going concern basis in preparing its financial statements, as detailed in the report of the trustees.
## **3. Income Recognition**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of income can be measured reliably.
Income from charitable activities relates to income from hire of the institute building, and is accounted on an accrual basis.
## **4. Investment income**
(a) Bank and other interest is included in the Statement of Financial Activities on receipt.
(b) Income from investment properties is accounted for on an accruals basis.
(c) Dividend income is accounted for on an accruals basis.
**5. Investment gains and losses** This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
## **6. Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accrual basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.
## **7. Grants and donations**
Grants and donations are accounted for when the commitment has been made. Any amounts committed but not paid out at the year-end are accrued for.
10
**BALDWIN’S BRIDGE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **8. Allocation of support and governance costs**
Costs are allocated according to the appropriate categories of charitable expenditure being costs for raising funds, costs for charitable activities and other costs relating to governance. Where expenditures relate to both functional categories a reasonable method of allocation is determined.
## **9. Fixed Asset Investments**
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price where applicable. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The Trust does not acquire complex financial instruments.
The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.
Investment properties are measured in the balance sheet at fair value. Investment properties are not depreciated. Any change in fair value is recognised in the statement of financial activities.
## **1.10 Debtors**
Other debtors are recognised at the settlement amount due.
## **1.11 Cash at bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments held on a bank business premium account.
## **1.12 Creditors**
Creditors and provisions are recognized as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
## **1.13 Funds**
## **Unrestricted funds**
Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the Charity.
## **Permanent endowment funds**
Permanent endowment funds are capital funds where there is no power to convert the capital into income and which must generally be held indefinitely.
## **1.14 Basic financial instruments**
The charity accounts for basic financial instruments on initial recognition as per paragraph 10.7 FRS 102 SORP. Subsequent measurement as as per paragraphs 11.17to 11.19 FRS 102 SORP **.**
11
**BALDWIN’S BRIDGE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
|**2. Investment income**
From rent received on investment properties
From investments listed on a recognised stock exchange
Other bank interest|**2025**
**2024**
**£**
**£**
248,866
238,182
33,762
30,814
1,918
1,538|
|---|---|
||**284,546**
**270,534**|
## **3. Grants and donations made**
During the year to 31 March 2025 17 (2024 - 17) donations and grants were made to institutions for the public benefit of the Eton and Eton Wick area totalling £61,625 (2024 - £51,330). These donations and grants were made for the purpose of assisting the charitable activities of the institutions with their general expenditure or the purchase of equipment
A breakdown is not provided on the grants and donations to institutions as an exemption applies to disclosure on the grounds of serious prejudice.
.
|**4. Other expenditure**
Clerk salary/fees and expenses
Treasurer fee and expenses
Bad debts
**5. Governance costs**
Audit Fee
Additional auditor’s services for last year
**6. Payroll costs**
Salary cost
No of employees|**2025**
**2024**
**£**
**£**
7,996
7,085
9,254
9,063
-
3,267|
|---|---|
||**17,250**
**19,415**|
||4,500
4,500
866
1,020|
||**5,366**
**5,520**|
|||
||**7,677**
**13,965**|
||1
2|
During the year ended 31st March 2025 the treasurer’s services were invoiced to the Trust. No remuneration was paid to any trustee. The Key Management personnel of the charity comprise the trustees, treasurer and clerk (as detailed above).
12
**BALDWIN’S BRIDGE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **7. Tangible Fixed Assets**
Baldwin's Bridge Trust is the beneficial owner of Baldwin's Bridge, High Street, Eton an integral part of the roadway of Eton. This fixed asset is not recorded in the financial statements as (a) it is inalienable and of an historical nature (b) cannot be disposed of (c) reliable cost information is not available and conventional valuation approaches lack sufficient reliability and (d) the costs to include would far exceed the benefits.
Baldwin's Bridge is insured for 'Property damage' of £10.3 million.
|**8. Fixed Asset Investments**
Carrying (fair) value as at 1 April 2024
Additions to investments during period
Add net gain on revaluation 31/03/25
**Carrying (fair) value at 31 March 2025**
Net cash released from investments in the year was
£nil (2024 - £nil).
Historical cost as at 31 March 2025
Carrying (fair) value as at 1 April 2023
Additions to investments during period
Add net gain on revaluation 31/03/24
**Carrying (fair) value at 31 March 2024**
Net cash released from investments in the year was
£nil (2023 - £nil).
Historical cost as at 31 March 2024|**2025**|**2025**||
|---|---|---|---|
||**UK**
**UK**
**Freehold**
**Quoted**
**Properties**
**investments**
**£**
**£**
8,965,100
728,057
33,762
-
32,606|||
||**8,965,100**|**794,425**|**9,759,525**|
||**96,721**
**541,612**|||
||**2024**|||
||**UK**
**UK**
**Freehold**
**Quoted**
**Properties**
**investments**
**£**
**£**
8,965,100
690,519
30,814
-
6,724||**Total**
**£**
9,655,619
30,814
6,724|
||**8,965,100**|
**728,057**|
**9,693,157**|
||**96,721**
507,850|||
The freehold investment properties were revalued at 31 March 2023 by Redwoods Estate Agents based on the carrying (fair) value of the properties.
The trustees are not aware of any material change since this valuation.
The freehold investment properties are held for leasing under operating lease agreements.
13
**BALDWIN’S BRIDGE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **8. Fixed Asset Investments (continued)**
## **As at 31 March 2025**
|The UK quoted investments at fair value comprised:
M&G Charifund (accumulating)
BlackRock Charishare (accumulating)
**9. Debtors**
Other debtors
**10. Creditors**
Trade creditors
Taxation and social security costs
Accruals
Other Creditors
**11. Endowments**
**Balance at**
**01-Apr-24**
**£**
**Permanent endowments:**
Freehold investment properties
**8,965,100**|**Value**
**£**
404,596
389,829|**Portfolio**
**%age**
51
49
100
**2024**
**£**
**27,496**
**2024**
**£**
6,549
741
8,822
3,637
**19,749**
**Balance at**
**31-Mar-25**
**£**
**8,965,100**|
|---|---|---|
||794,425||
||**2025**
**£**||
||**23,526**|**27,496**|
||**2025**
**£**
5,593
429
6,832
3,205||
||**16,059**|**19,749**|
||**Unrealised**
**Gain**
**£**||
||
-|**8,965,100**|
The properties were obtained by the Trust many years ago and no legal documentation can now be found to identify the specific wishes of the donors. The trustees have determined that the best course of action is to regard such requests as
permanent endowments i.e. capital funds where there is no power to convert the capital into income and which must be held indefinitely.
14
**BALDWIN’S BRIDGE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
|**12. Analysis of net assets between funds**
**Unrestricted**
**Endowment**
**Fund**
**funds**
**£**
**£**
Fund balances at 31 March 2025 are represented by:
**Investments**
794,425
8,965,100
**Current assets**
294,925
-
**Current liabilities**
(16,059)
-
1,073,291
8,965,100
Unrealised gains included above
on investment assets
252,813
8,868,379
Reconciliation of movements in unrealised gain on investments assets
Unrealised gains at 1 April 2024
220,207
8,868,379
Plus net gains arising on revaluations in year
32,606
-
Unrealised gains at 31 March 2025
252,813
8,868,379|**Unrestricted**
**Endowment**
**Fund**
**funds**
**£**
**£**
794,425
8,965,100
294,925
-
(16,059)
-|**Unrestricted**
**Endowment**
**Fund**
**funds**
**£**
**£**
794,425
8,965,100
294,925
-
(16,059)
-|**Total**
**funds**
**£**
9,759,525
294,925
(16,059)|
|---|---|---|---|
||1,073,291|
8,965,100|10,038,391|
|||||
||252,813|8,868,379|9,121,192|
||||
9,088,586
32,606|
||252,813|8,868,379|9,121,192|
## **13. Taxation**
Baldwin's Bridge Trust is a charity and the trustees are of the opinion that it is entitled for the current year to be exemptions provided by section 505 Income and Corporation Taxes Act 1988 and as a consequence, no provision for taxation is regarded as relevant
## **14. Financial commitment**
At 31 March 2025 the trustees are committed to incur nil expenditure on maintenance works.
## **15. Related party transactions**
There were no related party transaction in the year
## **16. Rental deposits**
Rental deposits are dealt with appropriately in accordance with legal requirements.
15