# ## ## ## ## ||`Pages`| |---|---| |`Trustees' annual report (incorporating the directors' report)`|`1to 6`| |`Independent examiner's report to the trustees`|`7`| |`Statement of financial activities (including income and expenditure account)`|`8`| |`Balance sheet`|`9 to 10`| |`Notes to the financial statements`|`11 to 19`| ## ## ## ## ## |`Registered charity name`|`Norfolk Wherry Trust`| |---|---| |`Charity registration number`|`1084156`| |`Company registration number`|`04106136`| |`Principal office and registered`|`Forsythe Wherry Yard`| |`office`|`Horsefen Road`| ||`Ludham`| ||`Norfolk`| ||`NR29 5QG`| ## ## ## ## ## ## ## ## ## ## ## Norfolk Wherry Trust Company Limited by Guarantee Trustees, annual report lin¢orporatlng the dlrectors, report) {contlnuedJ Year ended 31 December 2025 Achievements and perfomiance The Trust has continued lo meet it¥ aims of prgsgtving Albion. a Iiaditional Norfolk Wherry and maintaining the skills to operat$ her. The Trust also cont¢nued with a programme of events to show Albion lo the publi¢ and to raise awareness of the Tiusl and ils 8rchive. These aims were supported by the Trust's members via $ubs¢ription and the chartering of Albion to the public. Wherries were ¢ommon on the Ncirfolk and Suffolk Tivers in thè early 20th century and over a long weekend. along wtih six other wherries, we were able to put on a display of whèrry sailing to give 8 fiavour of what U)is might have looked like. After the lift out in 2024, maintenance of Albion was restricted lo smaller ilgms in 2025. One hatch was rebuilt, a quant made . more cupboards and Ihe mantlepie¢e were replac¢d as w$ll a$ a s¢rios of smaller items were restored and painted. The winch was fitted and exlenstvely lesled before the start of the season and tha cr8w re-trainèd in using the new winch. 11 was generally agreed that the changes materially reducèd thè risk to the crèw operating the win¢h, ju$tifying the changes to the original winch on Albion. A new sail was rnade and we are indebted lo Norfolk Community Foundalitsn supported by the Falgale Fund for providing a grant lo make the S￿1. During the winter the sewago pufflp al base failed and we were forced lo replace the whole system as A ¢onsèquen¢e. We also needed to upgrade and replace the electricity consumer unil al base for safety reascns. Finally wè changed the path lo base lo make it more resilient to flooding in future. The crew numbers were similar to last year with both promoliow)$ and departures from all levels. This contintJe5 to give u$ confidenee that our PTOViSiOn of a full. in house, training programme is currently able to keep 81ivÈ thè Èxpertise Ir> 8311 land qu8nll Albion. In addition to the open days for the general public to come in board Albipn, we also had a lolal of six hundred school children visit base and look around Albion (when she was available). These school visits were arranged by the Norfolk Heritage Fleet Trust who also look the children out sailing on their boats. Thè number of members decliried in 2025 but the income from chartering increased slighlly from th& year betore. Thi5 has allowed the Trust to maintain the present value of the reserves. Financial review Nel in¢ome arnounled to £10,360 12024." Net expenditure £8,253} after incurring expenditure of £17.564 12024.- £22.1931 on Ihe restoration project and on base erthancements of £12.033 (2024.. £Nill. Reservès poll¢y The Trust has renamed tho Reslorallon Ftsnd as the Malnlenance Fund, believing thsl this more accurately refle¢ts tho natur8 9f our work on the Albion. Expenditure of £11.950 was incurred with grant income ol £9.000. The Trust sel aside an additional £7,950 to allow for inflation so the fund now stands at £215,000. Thè Base reserv& fund has also been inttrease(I to £52,000 after incurring expenditure of £12,033 on the toilet and ele¢tri¢al system8. As al 31 De￿rnber 2025 the free reserves of the Trust amounted lo £412.024 {2024." £401.0481 of which a total of £271,53412024.' £265,055) has been designated by the Trust for spe¢ifi¢ purposes. During the year k Trustee made 8 donation Inole 221 as a Re$tri¢ted fund for volunteer iefreshments,. there wére no èxpenses against this fund and $0 £1,000 is carried forward at the year end. Norfolk Wherry Trust Company Limited by Guarantee Trustses, annual report (incorporating the directors, report) {¢fjn&nu•d) Year ended 31 December 2025 Plans for future perlods We expod lo finish the work for a new Iresh water lank in 5piing 2026 and will plan lo install a black water tank in the Autumn. We believe that we should avoid polluting the Broads river5 as much as possible and, whilst this slep is not being forced upon us, we believe it is Ihe responsible thin9 to do. This will require a major rebuild of the toilet area and a new false wall to be fitted. We will also need lo ¢hange our practices so that we can lake Albion lo be pumped out on a regular basis. We will continue supporting the Nortolk Fleet Heritage Trust with schools. visits in 2026 an¢J to arrange tailored school visits when asked. We also hop¢ to be more involved in taking secondary s¢hool¢hildren out in Albion although we might need some funding lo make the trips affc>rdable for schools. Strueturei governancè and managèmènt Gov•rnlng documènt Norfolk Whery Trust Is a company limitèd by guarantee and a registèréd eharity govèmed by its Memorandum and Artieles ttf Asstscialion. Recrultment, appolntmentaftd tralnlng of fru$foes Truslees are appointed from the membership of the Trust which. in Èc¢ordan¢e with the Article8 of AssoGialion, is open to any individu81, body corporate or unincorpo¥8ted association which is interested in furthering the charivs work. All new trustees will be provided with.. The goveming document of tho chaiity The latest linancial slalemenls of the charity Details of Chgrity Commission guidance notes The Essential Trustee 'Whal you need to know. what you need to do" In addition. the Trustees are encouraged to read Charity Commission and other newsletters ond lo attend ¢()utstr$ deslgned to keep them abreast of their duties and responsibilities. The Trustees al the date of approval of the accounts and throughout the year are listed on page 1. Rlsk management The Trust acknowledges the Charlty Commlssion's recommendalton for them lo undertake 8 review of the major risks lo which the Trust is exposed. The Trustees recognise their duly and the risks faced. and these are reviewed annualty. This will continue into the future. Organlsatlonalstructurè A committee is responsible for the management of the affairs of the Trust and all members of the committea are regarded as Trustees under the Charities Act 2011 and directors within the meaning of the Compantes A¢t 2006. A finance and general purposes ¢ommittee exists lo a¢t as a steering group for the Trust. The members of the commltt•t are Ihts Chair, Vice Ch8ii, S&cro1ary, Tr$8sureilCompgny So¢r$tary and Webmasttrr. Norfolk Whery Trust Company Limited by Guarantee Trustees, annual report (Incorporatlng the dlrectors, report) {¢pnllThutyd) Year ended 31 Decemb&r 2025 Structurg* governance and m?na9•ment (¢ontinuedJ lftElependent examlrjer A resolution to reappolnl Mark ProctDr FCA DChA of LovÈweJl Bl4k6 LLP as indÈptsndent exam1r￿r wll be oposed 2t the next Ann￿al Ganeral M8è11no. Small GomP￿Y provlslons This report has been prepared taklng advantag9 Ot thè small companiss, exampllon of $gGtl¢n 416A of th& Comwnips kt 20D6. Z Ivafa gÉ)a The truslees. annual report was approved ￿ .............................. and signed C￿ behall ol the bo8td of Iruste¢s by.. Marlin Hills {Ch8lr) Twstee Norfolk Wherry Trust Company Limlted by Guarantee Independent examlner's report to the trustees of Norfolk Wherry Trust Year ended 31 December 2025 I report to the charity Iru5tees on Fny exarninalion of the financial statements of the company lor the yaar endÈd 31 December 2025 which comprise the statement of financial activities (including income and expenditure account), balan￿ sheet and the relaleil notes. Responsibilitie$ and ba$1$ of report As the Charity Iruslees of the compJny land also ils direelors for the putposes of company lawl you are responsible for the preparation of the finan¢ia5 slalements in aeeordancè with the requirements of thè Companies Act 20061'ihe 2006 Acl'l. Havtng satisfied myself thal the financ*al statements of the company are not required lo be audited under Part 16 of Ihtt 2008 Act #nd are èligiblè for indepandent examination, I report in respect of my examination of your cornpany's financial statemen15 8$ carriÈd tsut undÈr section 145 of the Charities Act 2011 Ilhe 2011 Act'l. In carrying out my examination I have followed the Directions glven by Ihe Charty Commlssion under section 14515llbl of the 2011 Act. Indgpgndènt examlnerfs statement I have completed my examination. I confirm that no matters have ¢orna to my attention in connection wtih the examination giving me cause to believe that in any material rè5pe¢t'. aGc(>unling re¢ords We￿ not kept in respect of the company as Tequired by section 386 of the 2006 Act- or the financial statements do not accord with those rectsrds., or Ihe financial ststemenls do not comply with the accounting requirernttnls of sedion 396 of the 2006 Act tslhei than any requirement that Ihe accounts give a 'trLte and fairf view which is not matter con5ideied as part of an independent eXa￿1n￿tIon', or the financial statements have not been prepared in accoidance wf(h Ihe methods and principles of the Slalement of Recommended Practice for accounting and reporting by charities applicable lo ¢harilies preparing their accimjnls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ire18nd IFRS 1021. I have no concems and have come across no other mattels in conneotion with the examination lo whi¢h attention should be drawn in Ihis report in order lo enable a proper understanding of the aceounls Its be reached. Mark Proctor FCA DChA Independent Examiner Lovewell Blake LLP Chartered accountan18 Banksidp 30 Peachtnan Way Broadland Bu$ing5s Park Norwich NR7 OLB 3010412026 Norfolk Wherry Trust Company Limited by Guarantee Statement of financial activities (including income and expenditure account) Year ended 31 December 2025 2025 Restricted funds Total fund8 2024 Unr¢slri¢led furids Totsl fund$ Note Income and endowments Donations and lega¢ies Charitable adivilies Other trading activtlies Inv8sthent incom& 39,810 20,034 3,547 13,686 1.QOO 40,810 20,034 3,547 13,686 19,572 16,672 4,347 11,461 Total income 77,077 1,OOCI 78,077 52,052 ExpÈndlture Expenditure on raising funds.. Costs of raising funds Expenditure on ch8rttable a¢tivilies Total expenditure 17,0241 (60,6931 167,71 {7,(124} 160,6931 (67,7171 18,9851 151,3201 160,3051 10 Net Incomellexpenditural and net movtrmènt in funds 9,360 1.000 10.360 18,2531 Reeonclllation of funds Total funds brought forwar(I Tolal funds carried fonvard 420,773 420,773 429,f)26 430,133 1.000 431.133 420,773 The statement of financial activities includes all gains and losses re¢ogAised in the year. All income and expenditure derive from continuing aGtivitie$. Th8 notes on pages 11 to 19 forni part ofth•s* flnan¢lal $t•tements. Norfolk Wherry Trust Company Limited by Guarantee Balance sheet 31 December 2025 2025 2024 Note Flxèd assets Tangible fixed assets 15 18.109 19,725 Current assets Stock Debtors ash al bank and in hand 16 17 33,380 4,814 380,037 418,231 31,175 4,313 369,731 405,219 Creditors: Amounts falling du¥ wlthin one year (5.207) (4,1711 Net current a$$ets 413,024 401,048 Totsl assets Ip¥s ¢urient Ilabillll•s 431,133 420,773 Net •$$èts 431,133 420,773 Funds of the charity Resliicled funds Unrestricted fund$ 1,￿0 430,133 420.773 Totsl eharlty funds 19 431,133 420,773 For the yoar ending 31 December 2025 the charty was entitled lo exemption from audit under $ecti¢n 477 of Ihe Companiès A¢t 2006 relating to small companies. Directors, responsibilities.. The membèrs havé not required the company to obtain an audit of its financial slalements for the year in question in accordance with section 476- The directors acknowledge their responsibilities for ¢omplyÉng with the requirements of the Act with r¢spect lo accounting records and the preparation of financi81 $18lemenls. These finan¢i81 slalemenls have been prepared in a￿OrdanCe with the pro*ision8 applicable lo companies subject lo the small companies, regim The balance sheet continues on the following page. The note¥ ¢n page$ 11 to 19 fomi part of these financial statements. Norfolk Wherry Trust Company Limited by Guarantee Balance sheet (¢onllhuedJ 31 December 2025 These fnancial statements were approvèd by the board of trustees and authori$ed for issue on i.na.£utsand slgn8d on behall ol the board by. -frfak Marbn Hills (Chalrl Twstee J*m¢s Flsk Trusie8 Coryany reglstr8Jlln number 04106138 The notes on pag•s 11 to 19 form of these fin#nGial statements. -10- Norfolk Wherry Trust Company Llmlted by Guarantee Notes to the financial statements Year ended 31 December 2025 General infom#fjon The charity is a publlc benefit enllty and 2 PT4vale cornpany limited by ouar8nleé, registèred in England and Wales and a registered charity in England and Wales. The address of the registered oftice 1$ Forsythe Wherry Yard. Horsefen Road, Ludham. Norfolk. NR29 5QG. Statsrnent of compllan¢• The charity ¢onslitules a public benefit enlily as definèd by FRS 102. The financial 51alement5 have been prepared in 8¢cordance with Accounting and Reporting by Charities.. Statement of Recomrnended Practice applicablè to charities preparing their account5 in accordance with the Financial Reporiing Standard #ppli¢8blè in tha UK and Republic of Ireland issued in October 2019. the Financial Reporting Slandard applicable in the United Kingdom and Republic of Ireland IFRS 1021. the Charities Act 2011, the Companies Act 2006 8nd UK Generally Ac¢epted Accounting Practice. The chaity ¢onstilutos a public benefit entity as delined by FRS 102. AccountEng pollcle5 lal Basis of preparation The financial slalemenls have been pr¢pared on the historical ¢osl basis, 8s modifted by fhÈ revaluation of certain financial assets arKI liabil￿es. The financial stataments are prepared in sterling, which is the functional currency of the enlity. Ibl Going cgncom The accounts have been prepared tsn the golng concèm basis and the Trust believes that no malpTial uncertainties exist. The Trustees have considered the levgl of funds held and the expected income and expènditure for the next 12 months from authorising these financial statements. The budgeted income 8nd expenditure is suffjcient with the level of reserves for the Trust to be able to continue as a going concern. Ic) Fund accounting Unieslricled funds are available for us6 at the discretion of the trustees to further any of the charity's purposes. Designated funds are unreslricled thnds earmarked by 1he trustees for particular future project or commitment. Id) Incom• AJI income is included in the slalement of financial actiwties when entillemenl has pa$$ed to the charity, it is probable that the economic benefrts ass¢Gialed with the transaction will flow lo the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or 9ianls 1$ ￿COgniSed when there is eviden¢e of entitlement to the gift, r8ceipt is probable and ils amount Can be measured reliably. Norfolk Wherry Trust Company Limited by Guarantee Notes to the rtnancial statements f¢onfjnued) Yoar ended 31 December 2025 Accounting poll¢le$ r¢ofttinue InGom• {¢onllnu¢d) charter incorn& Is incjuded in the year in which the oharter is (tndertaken. Subscriptions ar8 accounted for on a received bA$i5. Lrfe subscription$ are in¢lu¢Jed in the period In which Ihey are recèived. {e} Expendlture Expenditure is rÈcognised on an accruals basis as a liability is incurreil. Expenditu￿ includes any VAT which cannot be fully recovered. and is classified undoi headings of the stalernenl of financial activities lo which it relates.. expenditurè on raislng fijnds includ&s the costs of all fundraising activities, events, non charitable trading activities, and the sale of donated goods. expenditure on charitablè activities includes all costs incurred by a charity in undertaking activities that furthei ils charitable aims for the benefrt of ils beneficiaries, including those support costs and costs relating lo the governance of the charity apportioned to charitable aclivilies. other Èxpendilvrp includes all expenditure that 18 neither rttlaled to raising funds for Ihe charity nor part of its expendiiure on eharitable activities. All costs are aUo¢aled lo éxpendilure categories refl¢cling the use of the ￿sOurC9. Direct costs attributable lo a single a¢livlty are allocated ¢Jirectly 19 that activity. Shared Costs are apprortioned between the activities they contribute lo on a ieasonable. justifiable and consi51ent basis. (fj Tangible assets Tangible ossets are initially le￿rded at cost, and subsequently staled al cost less any accumulated depiecialion and impairment losses. Any tangible as¥pls carried al revalued #mounts are recorded al the fair value al the dale of revaluation less any subsequent a¢¢umulated depreciation and subsequent accumulated impairment10ssgs. An increase in the carying amount of an asset as a resvll of a revaluation. is recogni8ed in other recognised gains and losses, unless il reversÈ$ a charge foi impoimient that has previously been recogni5ed as expenditure within the statement of financial actiwlies. A decrease in the carrying amount of an asset as a result of revaluation. is recognised in other recognised 98ins and lossés, exeèpt to which il offsèts any previous revaluation gain, in whiGh case the loss is shown within other fecognised gains and losses on the statement of financial actÉvilies. Igl Deproeiation Depreciation is calculated so as lo wiitÈ off the c¢st or valuation of an 8sset. less its residual value. over the useful economic life uf that asset as follows.. Archive equipment Workshop and fixtL¢res Wherry Albion 10Yo reducing balance 10QA reducing balance Re-valued al £5,000 in 1988, relainod at a wrttten down value of £1,00 15OA reducing balan¢0 Land held by the Tru81 is not depro¢ialed. Quay headlng 12- Norfolk Wherry Trust Company Limited by Guarantee Notes to the financial statements (Cotsflnuedj Year ended 31 December 2025 Accounting poli¢i•$ (eofjtlnu¢d) Ihl Stocks Stocks are measured al the lower of cost and estimated selling price less Qosls to complÉte anLI sell. Cost includes all costs of purchasa. costs of conversion and other costs incurred in biinging Ihe stock lo ils present location and condition. {il Flnan¢ial instrnments The charity only has financlal assets and financial liabilities of a kind that qualify as basic financial inslwments. Basic financial instruments 8re initially rÈcognised at transaction value and subsequènlty measured al their settlement value. A financial asset or a finaneial liability is reco9nlsed only whèn the enlty becomes a paty to the contractual provisions of1he instrument. Basie financial inslrumgnls arè initially recognised 81 the amount receivable 01 paable including any related tronsaction ctssls. unless the arrangement conslilules a financing transaction, where il is recognised al the present value of the future payrnents discounted èl a market rale of interest for a slmilar debt inslrumenl. Current asse15 and curienl liabilities are subsequ8nlly mgasurod al the cash or other ¢onsideralion exptrcted lo be paid or received and not discounted. Limlted by guarante• The ¢tsmpany is limited by guarantee. Each member is liable Its contributo a sum, not exceeding £1, In thè event ofa winding up. Donations and ltrgacles Unreslrided Funds Reslricled Total Fund# Funds 202S Donations Donations Subs¢riplions Cift aid tax repayment 21,269 8,964 2.359 1,000 22,269 2.359 Legacies Legaovs 7,218 7,218 39,810 1,000 40,810 Unr8strlcted Funds Reslricl¢d Totsl Funds Funds 2024 Donatlon$ Donations Subscriptions Gift aid lax Tepaymenl 8,459 9,066 2.047 8,459 9,066 2,047 13- Norfolk Wherry Trust Company Limited by Guaranteo Notes to the financial statements f¢4Jnllnued) Year ended 31 December 2025 Donations and lègael•s (¢ontlnu4(lJ Unreslricted Funds Restricted Tolal Funds Funds 2024 Legarles LegacAes 19,572 19,572 Charltable aetivitle$ Unrestricted Totsl Funds Unrestricted Total Funds Funds 2025 Funds 2024 Charter in¢ome 20,034 20,034 16.672 16,672 Othertrading actlvitlès Unre5tricled Total Funds Unreslricled Total F¢Jnds Funds 2025 Funds 2024 SocAal functSons Sale of souvenirs 1,405 2.142 1.405 2,142 3.547 1,708 2,639 4,347 1,708 2,839 3,547 4.347 Social fun¢tion$ Incorn& Expenses (Defi¢ilySurplu$ 2025 2024 1.405 (1,9561 15511 1,708 (1.9331 {2251 Sole of souvenlrs Incomè 2025 2024 2.142 2,839 Opening stock Closing stock Puichase5 13,602} 3,567 (1.538} 569 {4,426} 3.602 {1,347} Surplus 14- Norfolk Wherry Trust Company Llmited by Guarantee Notes to the financial statements (¢vnllnuedJ Year ended 31 December 2025 Investment inc•me Unr88lr¢cted Totsl Funds Unrestricted Total Funds Fund$ 2025 Funds 2024 Interest receivable 13,686 13.686 11,461 11,461 Costs of ral$ing funds Unr¢slricted Totsl Funds Unre51ricted Total Funds Funds 2025 Funds 2024 Social functions Sale of souvenirs Fundraising and publicity 1.956 1.573 3,495 1,958 9.573 3.495 1,933 2,171 4,881 1,933 2,171 4.881 7,024 7,024 8.985 8,985 10. Expèndituro on charltable activities Unreslrieted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Operating and maintaining Albion Restoration project Rates and insurance Eleclricity and expenses Professional expenses Genèral exptsnses Dtrpreciation (excluding mast and equiprnenll Governance costs 27,048 17,564 7.002 27,048 17,564 7,002 847 1,393 2,739 14,541 22,193 6.323 699 1,262 2.128 14,541 22,793 6.323 699 1,262 2,128 1,393 2,739 1.616 2.484 1.616 2.484 1,858 2,316 51.320 1,858 2,316 60,693 60,693 51,320 Analysi¥ of governan¢e costs: Unre51ricted Total Funds UnreslrÈ¢led Total Funds Funds 2025 Funds 2024 Independent examination fees Independent examiners- other f￿$ 2.288 216 2,268 216 2,100 216 2,100 218 2,484 2,484 2,316 2.316 15- Norfolk Wherry Trust Company Limited by Guarantee Notes to the financial statements (¢onbDuedJ Year ended 31 December 2025 11. Net ineom•llexpgnditurel Nel incomellexpendtiurél is staled after ¢hargingllcredilingl-. 2025 2024 Depreciation of tanyible fixed assols 1.816 1,858 12. Independpnt •xAmination fe•8 2025 2024 Fees payable lo the independent examiner for.. Indepgndent examination of the financial slalements Other a55ur8nce wNi¢es 2,268 216 2.100 216 2,484 2.316 13. stsff costs The Trust had no employees durin9 the year and so no individual eamed over £60.000. Key management pèrsonnfrl There arè no key management personnel due to the Twslees being involved in the day lo day management of the Trust. 14. Tru$tse remuneratlon and oxpense$ The trustees wore not enlitl8d lo and received no rèmuneration from the charity for being a trustee during the year but received minor nec&s$ary and authorised out of pocket expenses in relation to their rtsle as crew members. Mlchael Harris Martin Hills Faul Maddison David Wallis 135 293 368 90 16- Norfolk Wherry Trust Company Limited by Guarantee Notes to the financial statements (continued) Year ended 31 December 2025 15. Tangiblè fixed as$•ts Freehold property Wherry Mast4nd Workshop Albion Equipment and fIx￿rE$ Quay hèading Total Cost At 1 Jan 2025 and 31 Dec 1025 Depreclatlon Al 1 Jan 2025 Charge for the year 5,788 5,000 21,704 35,636 19,085 87.211 4,000 17.869 32,950 12.667 67.488 364 269 963 1,616 69,102 At 310ec 2025 4,000 18.253 33,219 13,630 Carrying #mount At 31 Dpc 2025 At 31 Dec 2024 5,786 1,000 3.451 2,417 5,455 18.109 5.786 1,000 3.835 2,686 6,418 19.725 The wherry Albion was revalued al 31 Mar¢h 1988 by the unincorporated Norfolk Whery Trust to the sum of £5,000. 11 h35 beon included in these accounts on the same basis as that 8dopted by th¢ unincoporated Norfolk WheTry Trust in prior years. 16. Stocks 2025 2024 Stock 33,380 31,175 Stock comprises souvenirs. limber and sail cloth. 17. Debtor8 2026 2024 Prepayments and accrued incgrne 4,814 4,313 18. Cr•ditors: Amounts frdlling due wlthln on• year 2025 2024 Accruals 5,207 4,171 In¢luded in accruals is deferred income of £2,93912024.' £2.0711 which comprises charter income for future periods. £2,071 of deferred income brought fO￿ard was released in the year. 17- Norfolk Wherry Trust Company Limited by Guarantee Notes to the financial ststements (rontinued) Year ended 31 December 2025 19. Analysis of charltable fvnd$ Balan¢e at 31 De¢ember 2025 Balance at 1 January 2025 Ineom6 Expenditure Transfers Unrestricted funds General funds Archive fund {designatedl Basè fund Idesignaledl Maintenance fund {d¢signatedl 155,718 5,055 50,000 210.000 6e.077 143.213) 1521} {12,0331 111.9501 167,717} 121,983) 158,599 4.534 52,OJO 215,000 9,000 14,033 7,950 420.773 77.077 430,133 Restricted funds Volunteer refreshments lund 1,000 1,000 Balanc& at 31 December 2024 Balance at 1 January2024 Incom• Exp•nditur• Tr¥nsfers Unrestrl¢ted fvnds Genèral lunds Archive fund Idèsignat&dl Base fund (designated) Mainl6n8nce fund Idesignaledl 163.523 5,503 50,000 21LI,000 52,052 (59,8571 14481 155,718 5,055 50,000 210,000 429,02e 52.052 (60,3051 420,773 The geneial fund represents funds available for use in the operation of the Trust. Ar¢hive Fund The 8r¢hive fund represen15 a l¢gacy receivod (In 20081 from Roy Clark which the Truslees have set asidè lo meet th6 ¢osls of 8rchiving trust materials for edu¢alional purposes. Base Fund The Trustees have eslablishèd a base fund lo meèt the future anticipated costs of the trust base. Maintsnancè Fund The Trustees have 8$lablished a maintenance fund to meet the future anlicipaled costs of th¢ continual restoration for the Mbion. Volunteer Refreshmènts Fund A donation of £1,000 was recewed for volunleèr ref￿shMent￿. Transfèrs The transfers in the yèar are detailed in tha TNsle?s report reseThes w)licy on pag¢ 4. 18 Norfolk Wherry Trust Company Limited by Guarantee Notes to the financial statements (contlnued) Year ended 31 Decèmber 2025 20. Analysis of n•t assots betwoen fvrhds Unie51rictèd Funds Reslrfcled Total Fund Funds 2025 Tangible fixed assets cul￿￿1 assets Creditors less than 1 year Net as$trts 18.109 417,231 15,2071 430,133 18,109 418,231 15,2071 431,133 1.000 1,000 Unrestricted Funds Restricted Totsl Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year N•t assets 19,725 405,219 {4.171) 420,773 19,725 405,219 14,171) 420,773 21. Capltal and revenue cornmltments Al the yèai ended 31 De¢ember 2025 there were no ctsmmilmenls. At the year ended 31 December 2024 therè were commrtmanls tolalling £20,396 for the making of sails and lodet pump system. 22. R•lated parti0¥ Onp Trustee made restricted donations tolallin9 £1,000 12024.. Unrestsi¢led don*ions from Seven TrLEslee5 tolalling £155). There werè no olh&r ielaled party transaction$ in this or the previous year. 19