ADDINGTON FUND
TRUSTEES, REPORT
AND
FINANCIALSTATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Charity Number= 1097092
Company Number.. 4654186

ADDINGTON FUND
TRUSTEESAND ADVISORS
Charity Number-
1097092
CompanyNumber-
4654186
Principal & Registered Office..
9 8arford Exchange
Wellesbourne Road
Barford
WanNickshire
CV35 8AQ
Trustees:
Mrsimon Mountjoy, FBIAC (Chairl
Mr Petersnoijgrass MA (Cantabl Isecretaryl
Mrs Louisa Dibble
MrThomas Hind
Mr Richard Maundei FRAgS
rs Emma Nurray-clarke
Mr Martin Redfearn FIAgrM
MrTom Richardson
Mrs Clair Stevens
MrAndrewWard MBE
Secreiary=
Mr Peter Snodgrass MA Icantabl
Fund Director:
Ms Sue English
Bankers-
National Westminster Bank PIC
59 Parade
Le8mington Spa
Warnickshire
CV32 4BH
Auditors:
Luckmans Duckett Parker Limited
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
CV56UB
Solicitors-.
Shakespeare Martineau
Bridgeway House
Bridgeway
Stratford upon Avon
CV37 6YX
Stockbrokers=
RBC Brewin Dolphin
4° Floor 9 Colmore Row
Birmingham
B3 2BJ
P81ron-
HRHThe Duchess ofEdinburgh GCVO
Vice Patrons:
The Rt Hon The Countess Bathurst
Rt Rev'd john Stroy8n M Stoel MA

ADDINGTON FUND
TRUSTEES, REPORT
The Trustees present their report and the accounts for the year ended 31 Narch 2025. The financial statements
comply with the Charities Act. the Companies Act 2006, the Memor8ndum and Articles of Association. 8n
Accounting and R8POrting by Charities.. Slatement of Recommended Practice applicable to charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS1021.
Chairman's report
It is a prlvilege to address you as Chairman of Addington Fund. an esteemed charity dedicated to supporting
our industry. PTesently. the sector faces significant challen8es' prolonged wet condilions in autumn 2023
resulted in a difficult 2024 harvest, and the outlookfor 2025 remains uncertain.
On the political front, the transition from the basic payment scheme to an environmental scheme under the
new Eovernment has introduced complexities. While livestock prices have 8hown improvement. certain
segments continue to experience persistent pressures
whether financial or physical
and Addington
remains committed to 8SSlSting individuals tr8nsitioningout of the industry due to such ¢ircumsian¢es.
Notably. there has been an increase in the complexity of housing applications. often reflecting financial stress,
particularly among smaller tenant farmers. fimely professional advice may prevent these issues from
escalating further.
We are also advanclng our commitment to new entrants by developing our first starter farm and planning
additional properties in the fulure. In the coming year, we will launch a new entrant fund to support aspiring
farmers-a longstanding goal now becoming r8ality-
This year. we are especially grateful to receive notification of a remarkable legacy, which further strengthens
the charity's sound financial position. It is a reflection that the fingnci81 strength of Addington is due firstly to
the generosity of our legators, our tight cost conirol and the effect of inflation on the homes we own in which
our retired farmers reside. It is a p8r8dox thai the same Inflation has made propertyownership so hard lor some
leavlng their tenanted holdin& with modest, if 8ny savings.
Finally. l extend sincere thanks to our staff. trustees. patrons. legators. and donors as we enter our 25th year,
Addington is well-positioned to support those in need within the industry, assist newcomers. and respond
promptlyto unforeseen events.
Simon Mountjoy
Chair of Trustees
Charitable obje￿1V&S of Addington Fund
Addington Fund's three primary puiposes are..
The provision of housing for retired farmers and farmworkers Iwithout the means of
purchasing or renting their own homel in their locality. and affordable dwellings and work/live
premises for people employed in rural situations.
To provide emergency relief for farmers hit by circumstances beyond Iheir Control. such 88
extreme weather events. anlmal disease and family illness.
Supporting new entrants to farming inclu¢ing'. acquiring farms by legacy or purchase IOT the
purpose otgrantinga startertenancyto new entrants to famiing.
The trustees confirm that, in reviewing the charity's aims and planning its future actiwties, they have carefully
considered the Charitycommission's generalguidance on public benefit.
Afull copy of the charity's Memorandum ofAssoci8tion is available upon request.
Public benefit
Addington Fund delivers a range of support services designed to address the housing and financial
challenges faced by individuals working in the rural and agricultural sectors.

ADDINGTON FUND
TRUSTEES, REPORT (continued}
Review of operations. achievements and performance
In November trustees and staff came iogether lor a Strategic Review. As we approach our 25 anniversary, il
felt important that we look at the services we provide Io Ihe farming Community to ensure it IS Slill lit for
purpose. We can Condense what we aTe about to 8 'B8rn View, with the three levels reporting our vision and
mission. our three core specialisms and core capabilities.
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Housing
We provide secure and affordable housing lor farming families who are retiring from the industry or are
forced io leave due to ill health, bereavement, or other circumstances beyond their control. In the case of
tenant farmers. many will face the loss of their family home as a result. and our housing scheme is unique in
that the people we help play a part in finding their new home. We believe that enabling people to live in their
chosen environment, close to friends and family. supports their menial wellbeing as they can remaln part of
thelr community.
As part of our review, our Strategic Housing Scheme has been expanded to also include farm workers and
farm managers when they lose theirlied accommodation, due to ill health. accident or retirement. when they
have worked in the industry for a significant period of time. Our ten8nts orten rely only on pensionable
ncome. or low-paid work and our rents reflect this, being a minimum of 2096 below the average
Market lent$ and in some 8reas fall to 45% below.
Our housing work Is wlde and varied, and in Cornw811 we have a workllive development for self-employe¢J
people working within a rural industry who are unable to rent reasonably priced accommodation. They have
desire to contribute towards the local economy through their self-employment but are priced out of the
geographical area in which theywish to resido.
Our tenants often rely only on pensionable income. or low-paid work and OUT rents reflect this. being a
mlnimum of 20% below the average market rents and in some areas fall to 45% below.
This year. due to the generosity of a benefactor passionate about helping people who have spent their lives
working in the rural sector. but whose home is tied to their jot). we launched our new Arepo Farmworker
Hou$lng S¢heme. Throu8h this new initiative, we support farm workers who lose their tied housing upon
retirement. The rent will be no less than 50% below the market let value. From small acorns grow mighty

ADDINGTON FUND
TRUSTEES, REPORT Icontinuedl
oaks. and we're excited aboutthe future development of this addition to our housing support.
Housing remains central to our operations and the rental income we receive goes some way to support the
viability of our charitywhich h8s Lieen a sound and sustainable modelfor manyyears.
The uniqueness of our housing scheme is thai the farmlngfamily we are supporting. plays a part in choosing
their Addington home, which can be located anywhere from Cornwallto Cumbria. and Wales to the Eastern
counties and every county in between.
Mindful of ever-increasing Energy Pertorm8nce Certificate standards. we are budgeting for the financial
impact this will have on our older properties with lower EPC'S and we have been investigating retrofitting of
renewable heating options. We welcorne opportunilies to expand our housing stock through land acqLJiSition
and legacy gifts.
Following a recent review. our George Stephens Trust Fund has taken a new direction. After consulting with
the National Farmers Union Board of Governors who Driginally transferred the fund lo us in 2009, it was
decided that the Fund would also be used to support retired farm workers with housing. Specifically. it will
help those who, having worked on tsrms for a significani part of their life. find themselves in need of housing
after losing access to thelr tied acctsmmodation.
Emergsney Support delivered through Forage Ald Fund
In 2023, Forage Aid became part of Addington and now 811 our emergency on-farm support is delivered
through our Forage Aid Scheme. We offer short-term support in the form of essential supplies such as anim81
feed. fodder. or bedding to farming businesses impacted by unforeseen events, most commonly extreme
weather or disease outbreaks.
These circurnstances are usually beyond the control ofthe affecte¢ f8miligs and can have devastating
effects on their livelihood. We hope that the much-needed breaihing space this support creates gives them
the time to consider other long-term options. Grants totalling £127,951 were made to farmingtamilies this
year.
Straw
2314
Haylage
Hay
Oth•r
ClampèdSllag•
20%
Beef Nuts
2596
Ayund Balesot
SFlège
Ewe Nut5
The pie ch&rtshows the various ways we have helped farmers facinga crisis in this financialyear,
demonstrating the flexibility of oursupport.

ADDINGTON FUND
TRUSTEES, REPORT Icontinuedl
Now Entrantscheme
Aimed at supporting the next generation of farmers, this scheme will provide affordable access to land and
farms donated to the charity. It gives aspiring farmers a vital opportLtnity to take thelr first steps into Ihe
industry and continues to be a cornerstone of our long-term vision to cultivate the next generation ot
farmers. This year, thanks to a generous legacy, we seized the opportunity to invest in our very first farm and
we 81s0 have pledges of land and agri¢tJltural holdings which, if fulfilled, could contribute a number of such
starter farms to Ihe scheme. The irusiees are excited about the journey ahead and are eagerly preparing ID
develop our first starter tarm an important step in supporting new fBrmers as they begin Iheir agricultural
careers.
Communltyand Partnershlps
We remain deeply committed to working in Close partnership with other farming charities. A key example of
Ihls Is our ongoing collaboration through Farming Help, alongside the Farming Community Network IFCNI.
Our Memorandum ol Understanding underpins and strengthens this valued relationship.
Whenever possible. we Share stand space with FCN at regional and national agrlcuiiural shows. continulng a
partnership that began in 2001 and has grown steadily ever since. We believe that malntaining strong
relationships ancl understanding the unique roles of each farm support charity significantly enhances the
impact of our collective efforts. Through collaboration. we ensure that those we serve receive the most
effective and comprehensive support availatile. In Ihls respect we continue to work alongside FCN and th8
Royal Agricultural Benevoleni Instbtutlon IRABII regularly. and other charities where we identty that thelr
support is best tailored to the need.
We are especially grateful for the support received from the Welsh Government this year, which enabled us
to 8SSlSt farmers in Wales aflected by the prolonged wet winter and its knock-on eflects into spring. Notably.
over 309b of our grant support this year was directed to Welsh farmers.
We continue to work closely with like-minded organisaiions in Wales, such as FCN Cymru, RABI, Tir
Dewi, The DPI Foundatlon, and Nonmouthshire Rural Mind to identify and reach individuals In need. Many
tarmers may be hesitant to seek help, so these partnerships are vital in encouraging referrals and ensuring
no one is left behind.
The annual Royal Countryside Fund Conference IRCFI was held in Cumbria this year and we thank the RCF
for their continued encouragement and support.
Support from The NFU Mutual Charitable Trust makes so much difference to the rural charities they support
and have been an encouragement to us over the last 24 years.
LookingAhe8d
A5 we look to the future. Addington Fund trustees remain steadlast in their mission to support farming
families and rural communities across ihe UK. Building on our slrong foundations, we are focused on
expanding our reach, strengthening partnerships, and adapting to the evolving challenges faced by those
who live and work in the countryside.
In the year ahead, we aim to expand our housing schemes. respond as required to crisis situations, and
deepen our support for young and aspiring farmers. With the ¢ontinue(I support of our donors, trustees. and
partners, we remain committed to supporting the b8ckbone of the rural economy- ourfarmirig eommunily.
Legacy Income
As with the previous financialyear. we have continued to see a rise in income from legacy gifts. This growth is
a testament to the trust placed in the Addington Fund over many years. and we would like to acknowledge
the foresight and dedication of colleagues from over a decade ago who helped bulld the confidence of some
of our generous Legalors. In 2025 we are truly reaping the rewards of seeds sown in the past. anQ we work
todayto SOW S88ds for the future too.
Every donation we receive Is deeply valueé and treate¢J with the utmost respect and gratitude. A gift left in a
Will carries a special signilicance. Often arriving without prior notice, these legacies are a powertul and

ADDINGTON FUND
TRUSTEES, REPORT Icontinuedl
humbling reminder of the endurlng impact of our work and the deep connection supporters feel to our
mission.
It is important to note that. in accordance with SORP Istatement of Recommended Practice) guidelines,
legacy income must be recorcled In the financial year in which the charity is notified of the gift not when the
*unrls are actually received. As a result, it is not uncommon to see fluctuations or spikes in legacy income
within our financial statements.
The trustees extend their heartfelt thanks to all our donors. Their generosity continues to sustain and insplre
the work of Addington Fund, enabling us to support farming families and rural communities when they need
it most.
Financial review
The 202412025 year marked not onlythe point where our balance sheet exceeded £20m wlth income
increasing to É4.26m forthe year. This includes a legacy gitt, yet to be received. but accounted for under the
Charity Act rules.
Balance Sheet Growth 12020-2025)
20-
18-
16-
14
12-
2020
2021
2022
2023
2024
2025
Year
Expenditure remained tightly Controlled at É613k. resulting in surplus of £3.6m for the year factoring in the
legacyyet to be received.

ADDINGTON FUND
TRUSTEES, REPORT Icontinuedl
Income v5 Expenditure12020-2025) in Millions (£1
2020
2021
2022
2023
2024
2025
Year
Addlngton Fund was originally established to provide emergency support durlng the 2001 foot and mouth
outbreak. with no expectation of long-term operation. To now stand on such strong financial foundations is
truly remarkable. This growth is not only a testament to th8 generosity of our supporters and the dedication
of ourteam, but aLso to the enduring relevance of our mission.
We are humbled by the journey we have t8ken Bnd deeply thankful for the Irust placed in us. This financial
strength en8bles us to pian ¢onfidently for the future. ensuring that farming familles and rural ¢ommunities
continue to receive the support they need- today and for years to come.
Expendilure has decreased by £86,129, r8fle¢ting efficient cost management while maintaining our
charitable activities and net income has Increased to £3.22m above our previous year, boosted by legacy
income and also investment gelns.
Structure* governance, and m8nagement
Our Board of Trustees is made up of ten dedicated and passionate people. all of whom have either practical
or theoretical knowledge of the agricultur81 industry that we setve. This year, Mrs Christine Ryder resigned
from her trusteeship. but we were delighted when Tom Richardson. a farmer an(5 rural surveyor from County
Durham joined ihe Board. All trustees give their time freely. Over the next three years five trustees retire on a
rotation.
Trustees meet four times per year as a board and we have subcommittees responsible for distinct aspects of
the charity's work as follows.. The Marketing and Fundraising committee is responsible lor overseeing our
charity events and marketing strategy. The Forage Aid Committee takes responsibilily for our grants activity-
supporting working farms in times of hardship and emergency. The Governance and Besource Committee
takes care of governance and risks. and the Housing committee looks after all housing relating matters. All
subcommittees report into the main board of trusteesto make recommendations.
Our Royal Pairon, HRH The Duchess of Edinburgh takes an active interest in our work and meets with us ai
agricultural shows when we are both in attendance. The Rt Hon The Countess Bathurst. and the Rt Reverend
john Stroyan have again served as Vice-Patrons. The Hon Mrs Mllly Soames stepped back from her role as a
Vice Patron this year and we take the opportunityto thank herfor her support in the pasi.
Trustee appointment, induction and trainlng
The Directors ofthe Ch8Titsble Company are also the Charity Trustees for the purposes of charity law.

ADDINGTON FUND
TRUSTEES, REPORT lcontinuedl
The Directors of the Charitable Company also serve as the Charity Trustees under charity law. They are
collectively responsible for ensuring Addington Fund operates in accordance with its charitable objectives
and legal obligations.
Newtrustees undergo a comprehensive induction programme, which includes..
An overview of their legal responsibilities under Ch8rliy and Company Law
A review of the Memorandum and Artlcles of Association
Insight intts the charity's decision-making processes, business plan. and recent financial
performance
Meetings with key staff and fellow trustees
Trustees are aciively encouraged to attend rel8vanttraining opportunities.
Trustees are elected for an initial four-year term. wlth the option to serve up to two additional three-year
terms, allowing for a maximum of ten years of seNice. For a serving Chair. this term may be exrended at the
discretion of the board.
Trustees serving durlngthe year
Mr Simon Mountjoy OFM, F61AC (Chairl
Mr Peter Snodgrass MA Icanlabl (Secretary)
Mrs Louisa Dibble
Mr Thomas Hind
Mr Richard Maunder FRAgS
Mrs Emma Murray-clarke
Mr Martin Redfearn FIAgrM
Mr Tom Richardson lappolnted 30 January 20251
Mrs Christine RyderlresSEned 7September 20241
Mrs Clair Stevens
MrAndrewWard MBE
No Trustee had any financial Snterest in the charity at any time during the year.
Risk m8n8gement
The trustees have undertaken a thorough review of the major strategie, business. and operational
risks facing the charity. They confirm thai robust systems are in place to ensure these risks are regularly
monitored and reported.
These systems enable the board to take timely and appropriate action to mltlgate poiential Ihreats and
ensure the continued stability and effectiveness of the charity's operations.
Insurance
The ¢harity maintains insurance coverage for its truslees and officers, providing protection against liabilities
arising from iheir roles within the organisation. This policy offers cover of up to £5 million, ensuringthat
those servingthe charity are appropriately safeguarded while carrying out their duties.
Fundralslng stand8rds
Addingion Fund organises fundraising events at shows and events across the Country throughout the year
and is registered with Fundraising Regulator the independent regulator Df charitable fundraising in England,
Wales, and Northern Ireland. We rto not use professional fundraisers.
R¢serves pollcy
It is the policy of the charity to mainiain a General Resetve of unrestricted funds of £100,000, which is the
equivalent of approximately 3 months core Costs. Holding reserves of this level will ensure that the charity
will be able to meet its planned financial obligations to cover managemenl and administrative costs in the
case of unloreseen circumstances.
Designated funds are set aside for future spending to meet the needs of the charity's housing work and
amountto £18.780,768 and listed in the Notes to Financial Statements page.

ADDINGTON FUND
TRUSTEES, REPORT (Gontinuedl
Restricted funds are held separately and listed with the particular restriction in ihe Notes to Fin8ncial
Statements page.
As atthe end of this financial year. restricted funds amo*Jnt to £1,600,759.
Investment policy
Charity funds are spread to reduce risk and create an income to fund our grants activities. Risk levels and our
investment policy are reviewed annually and our investment managers from RBC Brewln Dolphin and
Epworth Investments update the trustees annually on the investment performance.
The Trustees, Discretionary Fund Endowrnent Fund and NFU George Stephens Fund are held as blue-¢hip
equities.
Key msnagement personnel remuneration
No remuneration was paid to Directors, and they give their time freelyto the charity.
Trustees are reouired to disclose all r8levant interests and register them with the Fund Director and in
8ccordance wtth the ch8rlty's policywlthdrawtrom declsions where a conflict of interest arises.
The pay ofthe charitvs key management personnel is reviewed annually and normally increased in accordance
with average earnings.
Plans forthefuturo
As we approach our 25th anniversary. trustees Convened in November for a Strategic Review to reflect on the
charity's journey and chart a course for the future. This milestone offers a timely opportunity to reassess our
operations. refine our approach. and enhance how we commLFnicate our impact.
Building on our legacy of supporting farming f8mili8s during times of crisis and transition. we are now
expanding our supporr of new entrants to farming. This widened initiative. emerging from opportunities
identified during the current financial year. will be developed into a dedicated programme in the ne
linancial ye8r. It marks 2 significant evolution in our mission- enabling us to support farmingfamilies..
At the beginning of their careers, by helping new entrants establish themselves in the industry.
During their working lives, by providing emergency relief and practical support when misfortune
strikes.
At the end ofthelr c8reer$. by offering housing solutions and gentle assistance during Telirement
This full-circle model ot care reflects our commitment to standing alongside farming families ai every stage
of their journey. As we lead into our 25 year, we rernain focused on adapting to the changing needs of the
agricultural community and ensuring our support remains relevant, Compassionate. and impa¢tftJl.
Organlsatlon
Addington Fund operates from Its head office at 9 Barford Exchange. Wellesbourne Road. Barford,
Warwickshire CV35 8AQ.
Responsibility for the day-to-day operations of the charity is delegated by the trustees to the Fund Director.
During the reporting year. the charity employed an average of five staff members per month.
Sm8LI Compgnies, Exernptions
This repon has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2016
relatingto small companies.

ADDINGTON FUND
TRUSTEES, REPORT Icontinuedl
Trustees. responsibilities in reiatlon tothe Ilnanclalstatements
The trustees (who are also directors of Addingtorb Fund for the purposes of company lawl are responsible for
preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and
United Kingdom Accounting Standards Iunited KinEdom Generally Accepted A¢¢ounting Practice).
Company law requires the trustees to prepare financial statements for each financial year, which give a true
and fair view of the state ot affairs of the charitable company and of the incoming resources and application
of resources. including the income and expenditure, of the charitable company lor that period. In preparing
these financial statements. the trustees are required to..
Select suitable accounting policies and then applythem consistently-
Follow the principles and methods set out in the Charities SORP 2015 IFRS1021'
Make reasonable and prudent judgements and esismates..
State whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements;
Prepare the financial statements on the going concern basis unless it is inappropriate to
presume thatthe charity will continue in operation.
The trustees are r8spoTrsible for keeping adequ8t8 accounting records that disclose with reasonable
accuracy at any time the financial position of the charitable company and enable them to ensure that the
fin8n¢ial statements comply
with the Companies Act 2006. They are also responsible for safeguarding the assets ot the charitable
company and hence for iaking reasonable steps lor the prevention and detection of fraud and other
irregularitl8S.
St8tement as to Disclosure of Information to Auditors
The trustees who were in office on the date of approval of these financial statements have confirmed. as far
as they are aware. that there is no relevant audit information of which the auditors Bre unaware. Each ot the
trustees has confirmed that they have taken all the steps that they ought to have taken as trustees in order to
make themselves aware of any relevanl audit informatiorb and to establish that it has been communicated to
the auditor.
Approved
the trustees and signed on their behalf by..
Mr Simon Mountjoy- Chair of Trustees
9 Barforrs Exchange
Wellesbourne Road
Barford
Warwlckshlre
CV35 8AQ
Date..

ADDINGTON FUND
INDEPENDENT AUDITORS, REPORTTO THETRUSTEES OF
ADDINGTON FUND
Oplnlon
We have aurlited the financial statements of Addington Fund Ithe 'charitable ¢omp8ny'l for the year enrled
31 March 2025 whlch comprise the Statement of Financial Actlvities. the Balance Sheet and notes to the
financial statements, including a sumrnary of significant 8c¢ounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK
and R8public of Ireland (United Kingdom GenerallyAccepted Accounting Practice).
In our opinion the financial slalements..
give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of it.,
incoming resoijrces an¢J applic8tSon ot resources. Including its result. for the yeer then ended:
have been properly prepared in accordance wtth United Kingdom Generally Accepted AccountinE
Practice.. and
have been prepared in accordance with thg requirements ofthe Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standsrds on Auditing IUKI IISAS IUKII and
applicable law. Our responsibilities under those standards are further described in the Auditors
responsibilities for the audit of the financial statements section of our report. We are independent of the
charltable company in accord8n¢e with the ethical requirements thet are relevant to our audit ol 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 Ihe audlt evidence we have obtained
is sufficient and appropriate to provide a basis for our opinion.
Coneluslons relating to going concern
In auditing the finan¢ial statements, we have concluded that the trustees, use of the going concern basis ol
accounting in the preparation of the financial statements is appropriate.
Based on the work we hav8 performed, we have not identified any material uncertainties relating to events or
condition5 that, individually or collectively, may cast significant doubt on the charitable cofflpany's ability ro
continue as a going concern lor a period of at least twelve months Irom when the financial statements are
authorised for issu8.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant se¢tions of this report.
Other informatlon
The trustees are responsible for the other information. The other information comprises the information
included in the Annual report. other than the financial statements and our report of the Independent Auditors
thereon.
Our opinion on the financial statements does not coverthe other information and. except to the extent
otherwise explicilly stated in our report. we do not express any form of assurance conclusion Ihereon.
In Connection with our audit of the finan¢i81 statements, ou¥ responsibility is to read the other information
and, in doing so. consider whelhei the Other inforrnation is materially inconsistent with the financial
stalements or our knowledge obtained in the course of the audit or otherwise appears to be m8terially
misstated. If we identity such material inconsistencies or apparent material misstatements. we are required
to determine whetherthis gives rise to a material misstatement in the financial statements themselves. If.
b8sed on the work we h8V8 performed, we conclude that there is a material misstatement of thls other
information, we are required to report that fact. We have nothingto report in this regard.
10

ADDINGTON FUND
INDEPENDENT AUDITORS. REPORTTO THE TRUSTEES OF
ADDINGTON FUND Icontinuedl
Opinion on other matters pro¥cribed byth* Camp8ni8s Act 2006
In our opinion. based on the work undertaken in the course of the 8udil-
the information glven in the Report of the Trustees forthe financialyearforwhlch Ihe Ilnanclal statements
are prepared is consistent with the financial statements- and
the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Matt¢r$ on which we are required to report by ¢x¢eptlon
In the light of the knowledge and understanding of the charitable comp8ny and rts environment obtained in the
course of the audit, we have not identified material rnisstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Aei 2006 requires us to
report to you if, Sn otjr opinion=
adequate accounting iecords have noi b8en kept or returns adequate for our audit hav8 not beer
received from branches notvisited by us.. or
the financial si¥tements are not in agreement with the accounling records and returns- or
certain disclosures of trustees, remuneration specified by law are not made. or
we have not received all the information and explanations we require for our audit,. or
the trustees were not entitled to take advantage of the small companies exemption from thÉ
requirementlo prepare a Strategic Report or In preparingthe Repon ofthe Trustees.
Responslbllities of tru$tees
As explained more fully iri the Statement of Trustees Responsibilities. the trustees (who are also the directors
of the charitable company for the purposes of company lawl ore 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 necess8ry to enable the preparation of tinancial 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 con¢ern, disclosing. as applicable. matters relaterl to going concern and using
the going con¢erri basis ol accouniing unless the irustees either intencl to liquidaie ihe charitable company or
to Cease operations, or have no realistic alt8rnaiive but to do so.
Our responsibllltres forthe audit of the financial statements
Our objectives are to obtain reason8ble assurance about whether the financial statements as a whole are free
from material misstatement. whether due to traud or error, and to Issue a Report of the Independent Auditors
that Includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that
audit conducted in accordance with ISAS IUKI will always delect a material misstatement when it 8XiSts.
Misstatement5 can arise from fraud or error and are considered material if. individually or in the aggregate,
they could reason8bly be expected lo influence the economic decisions of users taken on the basis of these
financial statements.
Irregularities. including fraud, are instances of non-cornpliance with laws and regulations. We design
procedures in line wlth our responsibilities. outlined above. to detect material missiatements In respect of
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities.
including fraud is detailed below-.
Enquiring of rn8nagement and employees, including obtaining and reviewing supporting documentation,
concerning the charity's pollcies and procedures relating to:_
Ideniifying, evalualing, and complying with laws and regulations and whetherthey were aware of any
instances of non-compliance.
Detecting and responding to the risks of fraud and whetherthey were aware ot any actual. suspected. or
alleged fraud 8nd.
The internal controls established to mitigate risk relatingto Iraud or non-compliance with laws and
11

ADDINGTON FUND
INDEPENDENT AUDITORS, REPORTTO THETRUSTEES OF
ADDINGTON FUND Icontinuedl
regulations.
We identified areas of law and regulatlon that could reasonably be expected to have a mateil81 effect on the
fin8nci81 st8tements from our general charitable sector experience, discussions with management las
required by auditing standards) and we discussed with management the policies and procedures regarding
compliance with laws and regulations. The most signi(i¢ant considerations for the charitable company are the
Charities Act. Companies Act 2006, tax legislation and employment18WS.
All identified 18ws and regulations were communicated throughoutthe audit team, and they remaineij alert to
any indications of non-compliance throughout the audit.
Auditing standards limit the audit procedures to identifying non-compliance of these laws and regulations to
enquiry of management and inspectlon OY regulatory and legal correspondence, if there is any. Therefore. if a
breach of operational regulations is not disclosed to us or evident from relevant ¢orrespondence. and audil
will not detect the breach.
To identify risk of material misstatement due to fraud. we carried out discussions amongst the audit team to
assess areaswhere and howfraud might occur in the linancial statements and any potential indicators. The
following areas were identified
Management overritte of controls through the posting of inappropriate accounting entrles or lournais
Fraud risk relatingthe revenue recognition, although the recognition of rent81 revenue is Siraighttorward
with limited opportunityfor manipulation.
Fraud risk due to the valuation of properties at the year end. this is minimised where a professional valuation
has been obtained.
We tested the appropriateness of accountingjournals and other adjustments made in the accounts
preparation based on a risk crFieria.
Owingto the inherent limitation of the audit. there is an unavoidable risk that we may not have detected some
material misstatements. even though we have properly planned and performed Dur audit in accordan¢e with
auditing standards. For example. the further removed non-compli8n¢e with taws and regulation is from the
events and transaction reflected in the financial slaternent, the less likely in the inherently limited procedure
required by auditing standards would identify it. In addition, as with any audil, Ihere remainecl a hbgher risk of
non-detection of fraud. as these may involve ¢ollusion. forgery. inientional omissions. misrepresentations, or
Ihe override of internal controls. Our audit procedures are designed to detect material misstatement. We are
not responsible for preventing non-compliance orfraud and cannot be expected to detect non-compliance
with all laws and regulations.
A lurther 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. This description forms part of our
R8port of the Independent Auditors.
Use of our report
This report is made solely lo the charitable company's members, as a body. in accordance with Chapter 3 01
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charitable company's members those matters we are requlred to state to them in an auditors, 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 charitable company and the charitable company's members as a body. for our audit work. for
this report, orfor the opinions we have forrned.
12

ADDINGTON FUND
INDEPENDENT AUDITORS, REPORTTO THE TRUSTEES OF
ADDINGTON FUND Icontinuedl
Mark Spafford FCA FCCA
Seniorstatutory Auditor
For and on behalf of
Luckmans Duckert Parker Limited
Statutory Auditor
Chartered Accountants
1110 Elliott Business Park
Herald Avenue
Coventry
CV56UB
Date..l.S.-7k[..
13

ADDINGTON FUND
STATEMENT OF FINANCIALACTIVITIES IINCOMEAND EXPENDITURE)
Forthe year ended 31 March 2025
Unr&strlctad
funds
Restrlct8d
funds
Endovrfment
fund$
2025
Toial
2024 Totsl
Note
Income
Don8tions8nd legacies..
Donations
Legacies
Incom8 from charitable
a¢tivit188
Otherincome on raisinglunds
Investment Income
234,419
3.039,202
520.727
305.￿8
$40,077
3.039,202
S20,727
288.899
196.988
513.164
42,520
102.194
43.520
120,916
42.668
68.710
17.990
732
Total i￿Orne
3,940,062
323.848
732
4.264,442
1.110.429
Expendlture
Expendlture on ralsingfunds
49.494
3.992
53.486
50.014
Charitable activities
432,084
127.851
559,935
649,536
rot81 expen(Jiture
481.578
131.843
613.421
699,550
Net Income befor8 Invèstmentg8ins
3,458,484
191,805
732
3,651,021
410,879
Net Ilossesygains on investment assets
361.496
23.494
128
385.118
77.141
Nei lexpendlturellincome
3.819,980
215.299
860
4.036.139
488.020
Transf815 between lunds
Net movement infunds
3.819.980
215,299
B60
4.036.139
488.020
Funds broughtforward at 1 April
15.060.788
1.385.460
157,691
16.603.939 16,115,919
Funds carriedforward at 31 March
18.880.768
1.600.759
158.SS1
20.640.078 16.603,939
All income and expenditure derive from continuing activities.
The statement of financial activlties Includes allgalns and losses recognised durlngthe year.
14

ADDINGTON FUND
STATEMENT OF FINANCIALACTIVITIES IINCOMEAND EXPENDITURE}
Forthe yearended 31 March 2024
Analy515 of cornparatlve stat8m¢nt olfinan¢laLa¢tlvitie$
UnrgwTlct?d Restricted Endowmènt
funds
funds
lunds
2024
Total
Income
Don8tlOnS and legacies..
Donations
Legaeie5
Income from charitable
220,562
196,988
68.247
288,809
196,988
513,164
42.668
50.291
512.164
42,668
68,710
Other income on raisingfun¢Js
Investment income
17,615
804
Totsl income
1,023.763
85,862
804
1,110.429
Expenditure
Expenditu￿ on rai8in8funds
45,934
4,080
50.014
Charltable activilles
556,306
93,230
649.536
Total expenditure
602,240
97.310
699.550
Net income before investment gains
421,523
111,4481
804
410,879
Netllos$esiig8ins on inv8stmenta8sets
71.63B
3.558
1.945
77.141
Lo8n overage chsrgg on revaluatKJn
of property
Nèt lexpendltureljirbcome
493.161
17.8901
2.749
488,020
Tr£nsfers between funds
8,000
18.0001
Net movem8nt in funds
501.161
115.8901
2.749
488,020
Funds brougl1tf0￿Srd at 1 Aprll
14,559.627
1,401,350
154.942
16.115.919
Funds carrled fotward at 31 March
15,060.788
1.385.460
157.691
16,603.939
15

ADDINGTON FUND
SUMMARY INCOME AND EXPENDITURE ACCOUNT
Forthe year ended 31 March 2025
2025
2024
Gross income from external sources
Unrestricted funds
Restricted funds
3,940,062
324,380
1,023,763
86,666
4,264,442
1,110,429
Expenditure
Interest payable
Depreciation less book proflt
609,812
688.258
27
11,265
3,609
Total expenditure torthe year
613.421
699.550
Net in¢ome forthe year before profit on disposal of investment assels
3,651,021
410,879
Realised profitl Ilossl on disposal ot investrnent assets
385,118
77.141
Net incomeforthe y*ai
4,036,139
488.020
16

ADDINGTON FUND (Companynumber:4654186)
BALANCE SHEET
31 March 2025
2025
2024
Note
Frxsd assets
Tangible fixed assets
Investment propertles & charity office
Other investments
235,399
13,482,658
1.402,940
239,004
13,249,947
1.399,092
15.120,997
14,888.043
Current asset8
Debtors
Shortterm deposits
Cash at bank and in hand
474,181
2,363,541
434,425
81,922
1,476,419
212,721
3.272,147
1.771.062
Creditor$: amounts falling due within one year
179,5481
155,1661
Net current assets
3,192,599
1.715.896
Debtors due more than oneyear
2.326.482
Total assets less curr¢nt liabilities
20.640.078
16.603,939
Net assets
20,640,078
16,603,939
Funds
Unrestricted funds-
- General funds
- Designated funds
Restricted funds
Endowmentfunds
100,000
18.780.768
1.600.759
158.551
100.000
14.960.788
1.385.460
157,691
20,640.078
16.603.939
The trustees have prepared the financial st8tements in accordBnce with section 394 of the Companies Act
2006 and section 132 of the Charities Act 2011.
The accounting policies and notes on pages 15 to 25 form part of the88 accounts.
The financial statements were approved by Ihe Board of Trustees and authorised for issue on
Simon Mounljoy- Chair
17

ADDINGTON FUND
STATEMENT OF CASH FLOWS
Forthe year ended 31 March 2025
2025
2024
Note
Cash flows from oparating actiVbtie5:
Net cash provided by Iusod inl operating8ctivitie$
806.483
820,834
Cash flows from investing activftles
Inierest and dividends
Proceeds from sale offixed assets
Proceeds from the sale of strategic housing properties
Purchase of f1xed assets
Purchase of strategic housing properties
Proceeds Irom sale of investments
Purchase of investments
120.916
68,710
23,914
421,523
128,8801
1529.4901
198,797
1203,9131
645.967
1467.2631
391,912
1389,1891
Not ¢ash provlded by (used Inl Investlng actlvltl¢$
302,343
151,3391
Cash flows providtd by lused inlfinancingactivities
Flepayments of borrowing
Cash inflows from new borrowing
Net ¢ash flows from flnan¢ing #¢tivitie$
Change in cash and ¢a3h equivalents inthe year
1,108,826
769.495
Cash 8nd cash equivalent broughtloM8rd
1.689.140
919,645
Cash and cash equlvalènts ¢arried forw8rd
2,797,966
1.689.140
Cash and eosh equlvalents con51St5 Ofr.
Cash al bank and in hand
434.425
1,476,419
Short term deposits
2.363,541
212.721
Cash and cash equivalents at31 March 2025
2,797.966
1.689,140
18

ADDINGTON FUND
ACCOUNTING POLICIES
Accounting poLicies
The principal accounting policies adopted, judgements and key sources of estimation un¢ertainiy in the
preparation of the financial statements are as follows:
The ac¢oLJnts present a true and fair view and no changes have been made to the accounting policies.
No changes to accounting estimates have occurred In the reporting period.
No materS8l prior year errors have been identified in the reporting period.
Basls of preparatlon
The financial statements have been prepared on a going concern basis under the historical cost convention.
modified to include certain items 81 fairvalue.
The financial statements have been prepared in accordance with the Statement of Recommended Practice..
Accounting and Reponing by Charities preparing their financial statements in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 and with the Financial Reporting
Standard applicable in the United Kingdom and Republi¢ of Ireland IFRS1021 and with the Charities Act 2011.
The charity consiilutes a public benefit entity as defined by FRS102.
Funds
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees out of unrestricted
generalfunds for particular purposes.
Restricted funds-these are funds that can only be used for specific purposes within the objects of the chBrity.
Restrictions arise when specified bythe donor orwhen funds are raised for particular restricted purposes.
The Endowment Fund represents those assets that must be held permanently bythe charity- Incom¢ arisirig on
the endowment fund can only be used in accordance with the donor's wishes.
Further explanation of the nature and purpose of each fund is included in the notes io the financial statements.
Income
Recognition of income
These are included in the Statement of FinancialActivities ISOFAI when:
the charity becomes entitled to the funds
any performance conditions attached to the itemlsl of income have been met
it is possible that the Sncome will be received
the amount can be measured with reliably.
Recognition of legacy income is in line with SORP guidance with income recognlsed when the charlty has been
notified of a legacy even though there can be some tlme bemen notification of the legacy and receipt of it.
Income with related expendlture
Where income has related expenditure the income and related expenditure are reponed gross in the SOFA.
Grants and donations
Granis Bnd donations are only Included In the SOFA when the charity has unconditional entitlement to the
resources.
For legacies, entitlement is taken as the earlier of the date on which either= the charity is aware thai probate has
been granted, the estate has been finalised and notification has been made bythe executorlsl to the Trust that a
dlsiribution will be made. or when 8 distribution is received from the estate. Receipt of a legacy. in whole or in
part. IS Dnly considered probable when the amount can be measured reliably and the charity has been notified
of the executor's intention to make a distribution. Where legacies have been notified to the charity or the charity
is aware of the grarrting of probate, and the criteria for income recognition have not been met, then the legacy is
19

ADDINGTON FUND
ACCOUNTING POLICIES
treated as a contingent Sssei and disclosed if material.
Gifts In klnd
Gifts In kind are accounted for 8t a reasonable estimate of thelr value to the charity or the amount actually
received.
Tax reclaims on donations and g5fts
Incoming resources from tax reclaims are ineluded in the SOFA at the same tlme as the gift to which they relate.
Volunteer help
The value of any voluntary help recewed is not included in the accounts.
Investment income
Interest on funds held on deposft Is Included when receNable. Dlvidends receivable are recognised when
declared.
Invtrstmentgalns ond losses
This includes any gain or loss on the sale of investments and any gain or ioss resulting from revaluing investments
to market value at the end ol the year. Realised and unrealised gains are not sep8rated in the Statement of
Financial activilies.
Expenditure and liabllities
Llablllty recognition
Liabilities are recognised as soon as there Is a legal or constructlve obligation committingthe charity to pay out
resources.
Supportcosts
Support costs include central functions and hav8 been allocated to acfivity Cost categories on a basis
consisientwith the use of resources.
Govèrnance costs
InclLJde costs of the preparation and audit of the statutory accounts, the costs of Trustee meetings and cost of
any legal advice tothe Tiustees on governance or constitutional matters.
Operating leas$s
Rentals payable under operating leases are charged to the SOFAas incurred.
Pension c05t$
The charity operates a defined contribution scheme. The amount charged to the Statement of Financial
Activities in respect of pension cO￿S is ihe contribution payable in the year.
Differences between
contributions payable in the year and contributions actually paid are Shown a8 either accruals or
prepayments in the baLance sheet.
TangibL8 fixèd as$gt5
Tangible fixed assets are capitalised at cost if they can be used for more than one year and cost at least È2.000.
Depreciation is provide(J on all tangible fixed assets at rates calculated to wriie each asset down to its
estimated residualvalue over its expected useful life as follows..
Motor vehicles and trailers
Office equipment
Property- Buildings
Propery improvements-solar panels
Over 4 years
Over4 years
Over 50 years commencingthe year after acquisilion
Over 10 years
Str8tegic Housing Scheme Prop8rties
The properties are valued professionatiy on a ten-year cycle from the date of acquisition and in inteNenlngyears
using an inflation index on the previous year's values. Developments thal have a buy back option clause based
on cost with no deduction for grants received and building project properties in progress are valued at cost.
20

ADDINGTON FUND
ACCOUNTING POLICIES (continued)
Fixed asset investments
Investmenis are stated at market Value at the balance sheet date. The statement of financial activities includes
the net gains and losses arising on revaluation and disposals throughout the year. Investments in subsidiaries
are measured at cost less impairment.
D•btors
Trade and other debtors are recognised and the settlement amount due after any trade discount offered.
Prepayments are valued atthe amount prepaid net of anytrade discounts due.
Short term deposits
Short term deposits with a maturity of six months or less atthe balance sheet date.
Cash atbankand In hand
Cash and bank balances on demand.
Tax
The charity is an exempt charity wthin the meaning of schedule 3 of the Charities Act 2011 and is ¢onsidered to
pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a
charitsble companyfor UKcorporation tax purposes.
Golngconcern
The financial statements have been prepared on a going concern basls as the trustees believe that no materlal
uncertainties exist. The trustees have considered the level ol ftjnds held and the expected level ol income and
expenditure for 12 monihs from authorising these financial statements. The budgeted income and expenditure
is SLrfficienl with the level of reserves lorthe charity to be able to continue as a going concern.
21

ADDINGTON FUND
NOTES TO THE FINANCIALSTATEMENTS
forthe ye8rended 31 March 2025
Unrestricted
funds
Restri¢t$d
funds
2025
Total
2024
Tot81
Expenditure on ralslngfunds
Incurred seeking donations
Stagingfundraising evenls, etc.
Publicity
PonfolS0 management costs
36,596
6,125
6.773
36,596
6,125
10,765
33.467
7.208
9.339
3,992
Total
49,494
3,992
53.486
50.014
Unrestriet¢d
funds
Restrleted
funds
2025
Total
2024
Total
Charitable actlvities
Grants payable
Grants and asslstance payable to in(Jividuals
127,851
127,851
92.626
127.851
127,851
92,626
Propgrty portfollo expenses
Property expenses. repairs. Insurance and
abortive costs
106,522
106,522
98,518
support costs
Staff costs
Rent and rates
Other premises costs
Insurance
Travel and subsistence
Office costs
Subscriptions
Sundryexpenses
Professional fees
Finance charges
Interest payaole
Depreciation and loss on disposals
Governance costs
Auditors, remuneration
234.862
2,242
4,403
4.226
20,347
17.036
1,244
4,722
12.201
1.700
234.862
2,242
4,403
4,226
20,347
17.036
1,244
4,722
12,201
1,700
365,380
2,151
10,704
2.217
21,9f)5
19,876
1,412
3.217
7.575
1,598
27
11,265
3,609
3,609
18.970
18,970
11.065
325,562
325.562
458,392
Total
432.084
127,851
559,935
649,536
22

ADDINGTON FUND
NOTES TO THE FINANCIALSTATEMENTS
Forthe year ended 31 March 2025
202S
2024
Staff costs
Wages and salaries
Social security costs
Penslon costs
Other healthcare costs
183.297
15.035
27,603
8,927
248,722
18.825
83.434
14,399
234,862
365,380
The average monthly number of persons employed by the Charity
duringthe year was:
Re-imbursement of travelling, subsisten¢e and related expenses paid to Trustees was £17212024= £nill.
Remuneration paid to Trustees was Énil12023: £nill
One employee received emoluments in the band of £70.000 to £80,000.
One employee received emoluments in the band of 280.000 to £90.000.
The key management personnel of the charity comprise the trustees. Fund Director and previously the
Chief Executive Officer. The total employee benefFts of the key management personnel of the charity
were £71.35512024: £203.0891. The prior year figure is inclusive of a Settlement pai(J to an employee of
£78.206.
2025
2024
Net incoming resour¢8$ are 5t8ted after charging:
Depreciation and amounts written off tangible fixed assets
Auditors, remuneration audit
Auditors, remuneration- other services
3.609
5,250
13,720
4.406
5.000
6,065
Tanglble fixed assets
Office property &
Improvements
Vehicles &
equlpment
Total
Cost
1 April 2024
Additions
Disposals
313.533
18.250
331.783
31 March 2025
313.533
18,250
331,783
Depreclation
1 April 2024
Eliminated on Disposals
Charged in the year
78.134
14,644
92.778
3,606
3,606
31 March 2025
78.134
18,250
96.384
Net bookvalue
31 March 2025
235.399
235.399
31 March 2024
235.399
3.605
239.004
23

ADDINGTON FUND
NOTESTO THE FINANCIALSTATEMENTS
Forthe year ended 31 March 2025
2025
2024
Strategic Housingsehgme Proporties
64 properties and 4 workshops let through the Strategic HousinE
Scheme 12024-64 properties and 4workshops
1 April
Additions
Dispo$81s
RevoLuation gain I Ilossl
13,249.947
467,260
1645.9671
411.418
13.209.128
529.490
1421,5201
167,1511
31 March
13.482.658
13.249.947
Historical cost of investments held ai 31 March
11.158.287
11.231.899
The properties are valued professionally on a ten-year (previously five-yearl cycle at 31 March trom the
date of a¢quisition and in interveningyeors using an inllation index on the previous year's values. Building
project properties in progress are valued at cost.
Analysls of valuation
Valued in year enQed 31 March
No.of
Propertiesl
workshops
OrlgSnal
Cost
Re-valued
at
Indexed value
at yearend
2015
2016
2017
2018
2019
2021
2025
357.291
473.971
149.365
320.119
4,313,853
945,517
455,974
404.599
502.867
151.919
337.50Ct
3,996,211
800,000
642.504
598,147
742.010
189,288
429.472
5.143.082
885.522
642,504
27
7,016,090
6.835.600
8.630.025
Properties acquired in year ended
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
381.243
275,848
252,857
656,230
426.327
219,033
201.071
822,577
440,149
467,264
NIA
NIA
NIA
NIA
NIA
NIA
NIA
NIA
NIA
NIA
539,926
358,029
369.602
823.693
543.057
241.267
221.794
837,240
450.761
467.264
Total
23
4.142.599
NIA
4.852,633
Total at 31 March
68
11,158.689
NIA
13.482.658
24

ADDINGTON FUND
NOTES TO THE FINANCIAL STATEMENTS
Forthe year ended 31 March 2025
2025
2024
Othèr snvestments
1 April
Additions at cosVm8rketvalue
Disposals
Rev8lu8tion gainlllossl including interest accrual
1.399,092
387,141
1389,7751
6.482
1,315,343
203.913
1198,76 61
78.602
31 March
1,402,940
1.399,092
Historicauoriginal cost of investments held at 31 March
including interest accrual
1.241,940
1,241,940
Analysis of investments
Listed investments
Cash held within Ihe investment portfolio
Unquoted shares
Subsidiary undertaking
1,285,393
11,524
2.545
1.226,004
13,390
2,545
31 March
1.299,463
1.241,940
Subsidiaryundartaking
The wholly owned subsidiary undertaking Addingcon Development Company Limited IADCI WBS
incorporated on 16 May 2017 in the United Kingdom (company number 107723721 and donates all of its
profits to the charity. ADC acts as a development cornpany for the charity's Strategic Rural Housing
Scheme. A summary ofthe trading resulls is shown below.
The summaryfinancial performance of the subsldiaryalone is..
2025
2024
Turnover (charged to charity)
Cost of sales and administrative expenses
Donation to Addington Fund
Retained in subsidiary
The assets and liabilities of the subsidiarywere..
Current assets
Currenl liabilitles
4,009
110,5161
4.009
110.5161
Total assets
16.5071
18.5071
Aggregate share capital and reseryes
16.5071
16.5071
25

ADDINGTON FUND
NOTES TO THE FINANCIALSTATEMENTS
Forthe year ended 31 March 2025
2025
2024
Debtors-
Due within one year
Tenant debtors
Trade debtors
Prepayments and accrued income
Subsidiary undertaking
Other debtors
8,357
5.950
458,762
11.172
14.395
45.293
10.016
1.046
1,112
474,181
81.922
Due More than one y¥•r
Accrued legacy Income
2.326.482
Creditors: amounts falling due within one year
Accruals for grants payable
Trade creditors
Accruals and deferred income
Taxation and social security
Bank Loan
3.000
25.454
45.079
5,695
320
1.500
10.486
38.521
4.338
320
79,548
55.165
10
Deferred Income
Balance brought lorward
Amount released in year
Amount deferred in year
28,184
128,1841
29.436
34,161
134.1611
28.184
29,436
28,184
Deferred income comprises reni, sponsorship and function income received in advance.
26

ADDINGTON FUND
NOTESTO THE FINANCIALSTATEMENTS
Forthe year ended 31 March 2025
Gainsl
(Losses)
11
Statèment of funds
TT8nsfers
31 Mar¢h
2025
2024
Income
Expenditure
G8n8ral resetve
100.000 3,940.062
1481.5781
361,496 13.819,9801
100.000
Designated funds:
Hxed 8ssetfund
Revaluation res8rve
Addin￿On Strategi¢ Housing
Sch8me'.
Investment properties
Available forapplications
- Legacies awaiting receipt
245.307
1,873.758
245.207
2.158,826
285.070
10.591,803
2.249,922
167,3141
862.575
2.739.649
10,S24,489
3,112,497
2.739.649
TotsLd8signated funds
14.960,788
3.751,448
18,780,788
TotaLunrÈstrictedfunds
15.060,788 8.940.062
1481.5781
361.496
18,880.768
Restricted funds:
cheshi￿ RuralTrusi
Trustees, DSscretionary
NFU George Stephen5
Trust Fund
Regional Fundin8
Regional Properties
Somerset Levels
Farming Help
Retire¢J F8miers
ForageAid
We15h DryWeatherGram
Aiepo Farrnwork8r Fund
24.707
138.054
13,0001
191.7241
21,707
63.689
18.594
11.2351
179.786
73,146
778,089
88.458
3.277
10,000
89.943
12.2861
18,0001
2,240
I125.0￿)
55.636
171,146
799.343
86,594
3,277
10,000
85.429
106.000
21.254
11.8641
8.720
10,500
178,938
1132341
111,7351
1.235
125,000
303,938
Tot81 restrlcted funds
1.385.460
323,648
1131.8431
23,494
1,600,759
Endowment funrl$:
Trustees, Discretionary
Fund C8pitsl
Queen Victoria's Glft Fund
126.694
30,997
126,694
31,857
732
128
157,691
732
128
158,551
Totalfunds
16,603,939
4,264,442
1613,4211
385.118
20.640,078
27

ADDINGTON FUND
NOTES TO THE FINANCIALSTATEMENTS
For the year ended 31 March 2025
11
Statement of funds Icontinuedl
The general reserve represents the free funds of the charity that are not designated for particular
purposes.
The fixed asset funtj has been set up to asslst in 1dentltying those funds that are not free lunds and it
represents the net bookvalue of tangible fixed assets.
The revaluation reserve is required by Ihe Companies Act 2006 and represents the amount by which
investment properties and other investments exceed their historical cosl.
The Trustees, from experience gained during the Foot and MoLrth epidemic of 2001102. have designated
the Addington Strategic Housing Scheme for the purchase of property to be let to Ihose who were
employed in the agricultural and kindred Industries and need accommodation as a result of having to
retir8 from farming or leavlng a non-vlable business.
Cheshire Rural Trust Funds are restricted to meet the hardship needs of families farming in Cheshire.
The Trustees, Discretionary Fund was received following appeals arising from natural disasters affecting
farmers and is used to maintain a constant ability to administer hardship grants that assisi families who
encounter unforeseen circum5tan¢8s and are unable to find any other form of assistance. The fund
includes gifts that ore restricted to specific areas in Great Britain. During the year the trustees hove
reviewed this funcl and undertaken an exercise to value the hardship grants provlded to tenants v18 their
discounted rent81 payments. The difference between 80% of the market value of rent and the amount
actually ¢h8rged to tenants has been retrospectively recognised as a hardship grant.
The NFU George Stephens Trust distributes income to disadvantaged families. respecting the wishes of
Ihe original settlor and since 2025 supports housingfor farm workers.
The Regional Fund holds monies donated to help families in specitic counties and regions of England
and Wales.
The Regional Properties Fund represents the Investment properties acquired in the reglons Irom
restricted funds. the figure includes revaluation adjustmenls.
The Somerset Levels Fund having fulfilled any obligations relating to the flooding problems the current
balance will be used to address housing needs in Somerset.
The Farming Help ftjnd is a grant provided by the Royal Countryside Fund to rebrand the Farming Help
alliance including launching the new brand at regional shows. producing marketing equipment and
funding publicity Costs.
The Retired Farmers fund is for retired elderlyfarmers with unmet emergency needs.
The Forage Aid fund is for anlmal feed and bedding for UK farmers hlt by extreme weather or natural
disasters.
The Welsh government dry weather grant W8S to assistfarmers struggling due to dryweather.
The Arepo Farmworkers fund is to provide affordabLe hovsing for farmworkers.
Queen Victoria's Gift Fund is held as an Endowment Fund and any interest generated is ciedited to th8
Restricted Trustees Discretionary Fund.
The charity has conducted a thorough review of its restricted funds and has been able to satisfy itself
that the iestriction attached to certain funds has been satisfied.
28

ADDINGTON FUND
NOTES TO THE FINANCIAL STATEMENTS
Forthe year ended 31 March 2025
12
Analysis of net assets between funds
General
funds
D05ignated
lund$
R8$trI￿ed Endowment
funds
funds
Total
Fund baianees at 31 March 2025are
represented by-.
Tangible r￿ed assets
Investment properties
orher investments
Debtors more than oney88r
Netcurrent assetsll1i8bilit￿SI
235,399
12,683.315
735.540
2,326,482
2,800,032
235,399
13,482,658
1,402,940
2,326,482
5,621,599
799,343
635.543
31.8S7
loo.￿0
165.873
126.694
100.000
18,780.768
1.800,759
158,551
20.640.078
2025
2024
13
Reconciliatlon of net movement in tunds to not cash flow
from operating activities
Net movement infunds
Add backdepreci8tion charge
Add back book loss on disposal offixed assets
Deduct Interest income shown as investing a¢tNlties
Add ba¢k losseslldeduct gains) on investments
Add back loan overage charge on revaluation of property
Decreasellin¢reasel in debtors
Increaselldecreasel in creditors
4.036.139
3.609
488.020
4,406
6,859
168,7101
19,4791
1120.9161
1417,9901
12.718.741)
24.382
430,125
130,3871
806,483
820,834
14
Transactions whh related partles
There have been no related party transactions in the year.
15
Financial Comm￿mentS
At 31 March 2025 the entity had financial commitments totalling £1,105,00012024.. £495.0001.
16
Combination wlth For•geAid
On 10 May 2023 AddinEton Fund combined with Forage Aid. Forage Aid is a charity which provides animal
feed and bedding for UK farmers hit by extreme weather Or natural disasters. As part of the combination
£44,000 of funds were transferred from the Trustees, Discretionary Fund to the Forage Ald fund to match
the balance of funds of £44.000 brought across by Forage Aid.
29