Charlty ragistratlon number: 1121091
THE CITY SOLICITORS, EDUCATIONAL
TRUST
ANNUAL REPORT
FOR THE YEAR ENDED
31 DECEM8ER 2026

THE CITY SOUCITORS, EDUCATIONAL TRUST
CONTENTS
Page
Trust Infomiatlon
TNstee's report
Independent audltorg, report
Statement of financlal activitles
Balance $hget
10
Nolos to the flnancial statements
11

THE CITY SOLICITORS. EDUCATIONAL TRUST
TRUST INFORMATION
Trustaa
Th8 City of London Solicitors, Company
SWSQF Over8lght
Commlttee
The members of the SWSQF Oversight Committees, who are appointed
by the Court of the City of London Solicitors, Company, are..
Sarah Clover {Chalrl
Alastair Collett
Victoria Fearne
Patrick Mccann
The Officers of the City of London Solicitors. Company, who are appoinlelt
for a one year term at the Company's Annual General Meeting June 2025,
are..
The Master
The Senior Warden
The Juniorwarden
Virginia Cannon
Simon Davis
Garelh Ledsham
Unltlng Dlrectlon
On 29 July 2008 the Charity Commission directed that the charlty known
as the Educauonal Charity of the City of London Solicitors {which prior lo
this direction was registered charity no. 803543} be treated as forming
part of the charity known as The City Solicitors, Educational Trust for tho
purposes of Part 4 Iregislralionl and Part 8 {accountingl of the Charities
Ao12011.
Charlty numb¢r
1121091
Addres$
12 Austs'n Friars,
London,
EC2N 2HE.
Constitutlon
The Trust is governed by a Trust Deed dated 17 September 2007.
Independont auditors
F. W. Smith, Riches & Co.,
Chartered Accountants & Statutory Auditors,
15 Vvhilehall,
London,
SVV1A 2DD.
Bankers
National Westminster Bank,
City of London Office,
94 Moorgate,
London,
EC2M 6UR.
Page 1

THE crry SOLICITORS, EDUCATIONAL TRUST
TRUSTEE'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Tru8188 presents Its report together with the finandal slalements of the Trust for the year ended 31
December 2025. The report and financial slalemenls have been prepared in accordance wlth the accounting
policies set out in note 1 to th8 financial statements and comply w￿h the Trust's trust deed, the Charllies AGt
2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities
preparing their accounts In accordance with the Flnancial Reporting Standard applicable in the UK and the
Republlc of Ireland IFRS 1021.
Objectlves and activities
The aim of the Trust is lo advance the education of the public in the Study of Law in such manner as the Trustee
may from tlme lo lime determine., and to advance or further such other charitable purposes as the Trustee may
from time lo Ilme think fil.
During the year under revlew the Trust has continued to support the Social we￿are Sollcilors Qualtfi¢allon Fund
{'SWSQF"I project. The project stsrted as an initiative by the Training Committee of the City of London Law
Society, BARBRI (a legal education provider) and Young Legal Aid Lawyers lo provlde financial assistance to
aspiring solicitors Working in social welfare law for organisations serving disadvantaged communities. The
SWSQF will fund students wishing to study Solicllors Qualifying Exam prepawtion coursos and assessments.
FlnanGial revlew
SoGI?I Welfaro Solicitors QualrfiTC8tlon Fund
During the year the fourth cohort of students were recruited. To date, income totalling £1,188,762 has been
reGeived for cohorts 1, 2, 3 and 4. with an additlonal £85,000 received before the year end in respect of cohort
5. This has gnabled the recruitment of a lolal of 104 aspiring solicitors lo re¢elve funding for their training and
exam costs.
City Sollcltors, Horlzons pmject
During the year the decision was taken that the collection of donation5 in respect of the Horizon's project
would be undertaken by SEO directly.
Page 2

THE CITY SOLICITORS. EDUCATIONAL TRLIST
TRUSTEE'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Structure¥ governance and management
The SWSQF Overslght Cc¥nmittee has four member8,' are nominated by The Cty of London Solicf(ors'
Company lone of whom is ehairl, one nominated by The City of London Law Society and one nominated by
BARBRI Global Limited las the course provider). Th¢ City of London Law Society's Training Committee h88
crealod a Project Team which undefjakes initial interviews and asses8menls of potential grantees and makes
recommendations lo th8 Oversight Committee for Specific grants.
The SWSQF Oversight Committee, in exercising such oversight, ensures that the granle&s of funding meet the
eligibility criteria and accepts or rejects the Project Team's recommendatlons. The day to day running of the
SWSQF inrtialive is the responsibility of the Project Team who are also responsible for implementing the decision5
made by the Oveisighl Committee.
The Trust has no employees although Patrick Mccann, a member of tho SWSQF Oversight Committee and chair
of the Project Team, is Chief Executive of the City of London Law Society and, therefore, is an employee of such
Investment policy
The Trvst80's investment policy is to maximise the Trust's income with minlmum rlsk. Slnce the levels of
unrestricted reserves are minimal. all balances held in short lerni cash deposits.
Rlsk managemènt
The Trustee has assessed the malor risk8 to whlch the Trust 18 exposed, in particular those related to the
operations and finances of the Trust, and is satlsfled that Sy8lem8 are in place to mitigate the exposure lo the
major risks.
Reserves pollcy
The unrestricted reserves repre8enlfunds arising fr¢)m past activitie8. The Trustee is satislied that the unrestricted
and reStr￿ted reserves, currentiy £2,689 and £338,169 Tespe￿5veIy, are adequate given the nature of thg TrusV8
aclivilies.
Public benellt
The aim of the Trust 18 lo advance the education of the public in the study of Law. The Trustee confirms that it
has consuked the guidance contained in the Charity Commission's g6neral guidance on public benefit when
reviewing ils aims and e8tsblishing its activities. in planning future actiwties and rts use of funds. Grants to
universities and colleges of over £9,107.440 have been awarded over the past 29 years to approximately 70
instl(utions throughout tho UK. More recently, under the SWSQF, grants to pay lor study matori81$ and exam
costs for people wilhoul the financial resources lo qualify as solicitor8 will resuli in over 100,OOL) additional social
wemare solicitor hours per year following the qualIf￿allon of the fiTsI three cohort8 of candidates.
Page 3

THE CITY SOUCITORS. EDUCATIONAL TRUST
TRUSTEE'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Statement of Trustofr's ro$ponslbllltig8
The Trustee 18 responsible for preparing the Annual Report and the flnancial 8talements In accordance with
applicable law and regulations.
The law applicable to charitie8 in England & W81e6 requires the Trustee lo pr8pare financial slalemenls for each
financial year in accordance with United Kingdom Generally Ac¢oPted Accounting Piactice IUnile(l Kingdom
Accounting Standards and applicable lawl. The Trustee must not approvfj the financial Statements unless it is
satisfied that they give a true and fair view of the state of affairs of the Trust and of the incomlng resources and
application of resources, including tha income and expenditure, of the TNst for that period.
In preparing these finanaal statements, the Twstee15 requlred lo..
sal￿t suitable accounting polici88 and appty them consistently.,
observe the methods and principles in tho Charities SORP.,
make judgements and estimates that are reasonable and prLsdent,
stale whether applicable UK Accounting Standards have been followed, 8ubjeot to any material
departures disclosed and explained in the financial 8talemenls,' and
prepare the financial statements on the going concem basi8 unless it is inappropriatg lo presume th* the
Trust wll wntinuè in (f)erotion.
bl
d)
The Trustee is responsible for keeping sufficient accounts'ng records that disclose wrf(h reasonable accuracy at
any lime the financial position of the TNst and enable the Trustee lo ensure that the financial statements comply
with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provision8 of the Trust'8 Irusl
deed. Tho Trustee is also responsible for safeguarding the assets of the Trust and hence for taking reasonable
steps for the prevention and detection of fraud and olh6r irregul8rilie8.
The Trustee confirms that 80 far 88 1118 aware. there 18 no relevant audit information of which the Trust's audllors
are unaware. The Trustee has taken all tho steps that il ought to have taken as Truste6 in ordef to make itself
awaro of any relevant audit Infomialion and to establish that the Trust's auditors 8re aware of that information.
By older of the Trustee
V. Canno
Master
29 June 2026
Page 4

THE CITY SOLICITORS. EDUCATK>NAL TRUST
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE CITY SOLICITORS,
EDUCATIONAL TRUST
Opinion
We have audited the financial statements of The City SO1￿ltOrS, Educa￿onal Trust Ilhe 'Trust'l for the yeBr ended
31 December 2025 whieh comprise the slalemènt offinancial actni￿¢s, the balance 8heel and notes to the financlgl
Statements, indudlng a summary of signrficant accounting policies. Thefingncial reporting fram8worft that has been
applied in their preparallon is Bppliceble law and United Kingdom Acwunling Standards, includlng Financlal
Reporting Siandard 102 'The Financial Reporting Standard applicable in the UK and Republic of Iroland, Iunlted
Kingdom Genèralty Accepted Accounting PraGlice}.
In our opinion. the financial stalomenl8'.
give a true and fair view of the 81ale of tho Trust'8 affairs as al 31 D8c6mber 2025 and of ils incoming
resources and application of resources for the year then ended.,
have been prepety prepared in accordance wf(h United Kingdom Generally AGGepted Accounting Practke.,
and
have been prepared in accordance wlh the requirements of the Charitles Act 2011.
Basis for oplnlon
We conducted our audit in a¢cordance with Inlemalional Standards on Auditing (UK) IISAS {UKI) and applicable
law. Our responsibilrties under those stsnd8rd5 are further described in the auditors, responsibilf(ies for the audit of
the financial ststemen18 secllon of our report. We are independent of the Trust in accordance wrth the ethical
requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Elhlcal
Standard, and we have fulfilled our other ethical responsibilrties in a￿Or(lanCe with these requirements. We believe
that the audit evidence we have obtalned is sufficient and appropriate to provide a ba818 for our opinion.
Concluslons relatlng to going concem
In auditing the financlal slalements, w8 have concluded that the Trusloe's use of the going concem b8Si8 of
accounting in the preparation of the financial statements 19 8ppropriate.
Basod on the work we have perfomied, we have not identrfied any material uncertainties relallng lo events or
condition5 that. individually or collectively. may cast 8ignificant doubl on the entity's ability to conllnue as a going
con￿rn for a poriod of al least twelve months from when the financlal statements are authorl8ed for i88ue.
Our responsibilllies and the responssbilities of the TN8tee wf(h respect lo going concem are desoribed In the
relevant sections of this reporL
Page 5

THE CITY SOLICITORS, EDUCATIONAL TRUST
INDEPENDENT AUDITORS, REPORT TO THE kqEMBERS OF THE CITY SOUCITORS,
EDUCATIONAL TRUST
Other Infomiation
The other infomalion comprise8 the information included in the Annual Report other than the financial slalements
and our auditors, report Ihereon. The Trusteels responsible for the other information contained within the Annual
Report. Our opinion on the financial statements does not cover the other infomiation and, except to the extent
otherwise explicltly staled in our report, we do not expre88 any form of 88surance conclusion Ihereon. Our
re$pon8ibility is to read the other itrfomiation and. In doing so, con8ider whether the other infomiation is materlalty
inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears
lo be malerlally misstated. If we identify such material inconslstencies or apparent materfal mi8Stalements, we are
required lo detemiine whether this gives rise to a material misslalement in the financial st8temenls th8msefves. If,
based on the work we hava performed, we conclude that there is a material misstatement of thi8 Other Infomiation,
we are required to report that fact.
We hgve nolhing to roport in this regard.
Matterg on which we are requlred to report by oxcaptlon
We have nothing lo report in respect of the following matters in relation to which the Charitle8 (Accounts and
Reports) Regulations 2008 requires u8 lo rgport to you if, in OUT opinion:
the infomialion given in the Trustee's Report is inconsistent in any mateiial re8pecl with the financial
statements., or
Sufficient aGcounting rocords have not been kept., or
the financial statements are not in agreement wf(h the accounting records and returns,. or
we havo not received all the information and explanations we requlre for our audll.
Responsibllltles of the Trustoe
As explained more fulw In the Statement of Trustee's Responsibllities sel out on page 4 the Trustee is responslble
forthe preparation of the financi81 statements and for being satisfied that they give 8 true and f8ir view. and for such
Intemal control as the Trustee determines is necossary to enable the preparalion of finandal statement8 that are
fre8 from material mis8tatement, whether due to fraud or eryor.
In preparing the financial slalen)ents, the Trustee is responsible for assessing the Tru3fs ability lo continue 8s a
going concern, disclosing, as applicable, matters related to going concem and using the going concem basis of
a￿OUntIng unless the Trugtee either Intends to liquidat8 the Trust or to cease operations, or has no realistlc
aEtemative but to do 80.
Page6

THE CITY SOLICITORS, EDUCATIONAL TRUST
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE crry SOLICITORS,
EDUCATIONAL TRUST
Audltots, responsibilitios for the audlt of the flnanclal 8tstements
We have been appointed as auditor under 8eclion 145 of the Charitie¥ Act 2011 and report In accordance wlth the
Act and relevant regulations made or having effect thereunder.
Our objeclivo8 are to oblaln reasonable assurance aboutwhelher the financial Slatoments as a whole are free from
malarial mlsstalemenl, whether due to fraud or error, and to issue an 8tJditors' report that includes our opinlon.
Reasonable assurance is a hlgh level of assurance. but is not 8 guarantee that an audit conducted in accordance
with ISAS IUKI will always detect a material misstalemenl when il exists. Misslatemenls can arise from fraud or
error and are considered material rf. individually or in the aggregate, they could ressonably be expected lo influence
the econr#nic deck8ions of user8 taken on the basis of these financial slalemgnts.
liregularities. including fraud, are instanw ol non-compliance with laws and regulations. We design procedures in
line with our re8ponsibiifties, outlined above, to detect material misstatements in r$specl of irregularities, including
fraud. The extent to which our procedures are capable of detecting Srregularilies, including fraud is detailed below..
Discussions were held with, and enquiri?$ made of, management and those charged with govemance wflh a vivw
lo identfying Ihose laws an(J rogulations that could be expected to have a material impact on the financial
81atemenl8. During the engagement team briefing, the outcomes of these (liscusslons and enquiries were shared
with the team, 38 well a8 con8Kler8tlon as to where and how fraud may occur in the enlily.
The foltowtng faws and regulation8 were Identified as being of slgnificance to the enlty..
Those laws and regulations considered to h8ve a dlrect effect on the financial statements include UK
financial reporting standards and the Charities Act.
It is considered that there are no laws and regulatSons for which non-compllanGe may be fLtndament81 to
the op@rats.ng aspects of the business.
Audit procedures undertakon in response to the potential risks relaling to irregulari1188 (which include fraud and
non-compliance with laws and regulations) comprised OF inquiries of management and those charged with
govemance 88 lo whether the entity complies with such law8 and regulath)n$,' enquiries with thg same concerning
any actual or potential litigation or claims., inspection of relevant legal correspondence., review of management
ccfflmittee minutes., testing the appropriateness of entrfes In the nominal ledger. including joumal enlries., reviewing
transactions around the end of the reporting period., and the performance of anatylical procedures lo identify
unexpected movements in account balanGes which may k Indicative of fraud.
No in81ances of material non-compliance were identified. Howev9r, the likellhood of detecting Irregularities,
including fraud, is IiFnited by the inherent difficulty in detecting irreguiarilies, the effectiveness of the entity's controls.
and the naluro, timing and extent of the audit procedures perfomied. Iiregularities that result from fraud might be
inherently mof8 difficult lo detect than irYegulaTrties that resuK from error. A8 explained above, there is an
unavoidable risk that materlal misstatements may not be detected, even though the audit h88 been planned and
performed in accordance with ISAS IUKI.
A fvrther description of our responsibilities for the audit of the financial 5tstements is located on the Financial
Reporting Councll's website at.. https'.1￿.frc.Org.uk1audfcorsre8pon¥lb1lI1les. This descrlption form8 part of our
auditors, report.
Page 7

THE CITY SOLICITORS. EDUCATIONAL TRUST
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE CITY SOLICITORS.
EDUCATIONAL TRUST
Use of our report
This report is made solety to the Trust's Trustee in accordance with Part 4 of the Charities IAccounl8 and Reports)
Regulations 2008. Our audit work has been undertaken so that we mighl slate to the Trust's Trustee those matters
we are requlred lo stale to them in an auditors. report and for no other purpose. To the fullest extent pemiitièd by
law, we do not accept or assume responslbility to anyone other than the chari(y and the Trust's Trustee, for our audit
work, for this report. or for the opinions we have formed.
f.w. L4.C4LQS I
F. W. Smlth, Riches & Co.
Chartered Accounlanls & Statutory Audltors
London
29 June 2026
F. W. Smith, Riches & Co. is eligible for appointment as an duditor of the Gharily by virtue of ils eligibility for
appointment a8 auditor of a company under section 1212 of the Compantes Act 2006.
Page 8

THE CITY SOLICITORS, EDUCATIONAL TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025
Note
Yoar
ended 31
December
2025
UnrestrlGted
funds
Year
ended 31
Docember
2025
Rostrfcted
funds
Year
ended 31
December
2025
Total
fund$
Period
ended 31
December
2024
Total
funds
Income and endowments
Donations and18gacies
Interest income
268,550
266,550
603.400
16
11
Total Income
11
266,550
266.561
603.416
Expendlture
ExpenditurB on support
and governancg..
Support costs
Govemance costs
16
2,190
3,030
3,030
3,030
3.036
2,206
Expenditure on charitable
activi118S.'
Granls188ue(I
157,536
157.536
408,163
157,536
157,536
408.163
Total expendlture
180,$66
160.572
410,369
Net 8xpendltur8 and
movement fund$
108,984
105.989
193.047
Funds brought forward
2,684
232,186
234,869
41,822
Funds carrled fopAard
10
2.689
338,169
340,858
234,869
Pag8 9

ThE CITY SOUCITORS. EDUCATIONAL TRUST
BALANCE SHEET AS AT 31 DECEMBER 202S
Note 31 December
2025
Unre8trlcted
funds
31 December
2025
Restrlcted
funds
31 Dgcember
2025
Total
funds
31 December
2024
Total
Funds
Currnnt assets
Debtors
Cash 8t bank
50,000
457,561
50.000
463,640
6.079
491,584
6.079
507,561
513,640
491,584
Creditors.. amounts falling
due within one year
13,390
{106,9381
{110,3281
(256,7151
Total assets le85 current
11obllltles
2,689
400,623
403.312
234,869
Creditors.. amounts falling
due after more than one year
(62.4541
162.4541
Ngt assets
2,689
338,169
340,868
234,869
Funds
UnrestrFcted funds
Restricted funds
11
11
2.689
2,689
338,169
2.684
232,185
338,169
Total tunds
2,689
338,169
340,858
234,869
The financial slalements on pages 910 17 were approved and 8Uthorfsed for18sue by the Trustee oft 29 June 2026
and were signed on its behaw by..
annon
astor
Page10

THE CITY SOLICITORS. EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Accountlng pollcle8
1.1 Bas18 of prnparation of financlal statsments and assessmont of golng ¢oncem
The financial statements have been prepared in accordance wth 'A￿0￿￿tIng and R8POrtlng by
Charrties,. Statement of Recomm6nded Practice applicable to charities preparing th8ir account8 in
accordance with the Financi81 Reportlng Standard applicable in the UK and Republic of Ireland IFRS
102) (Second Edition), and the Flnancial Reporting St8ndard applicable in the United Kingdom and
Republic of Ireland IFRS 10218nd the Charities Act 2011 and UK Generally Accepted PractKe as11
applies from 1 January 2015.
The finahcial slatement$ have been prepared lo glva a'true and fai¢ view 8nd have deported from the
Charities (Account$ and Reports) Regulations 2C)08 only to the extent required lo provide a 'lrue and
fair view,. This departure has involved following 'Accounling and Reporting by Charities.. Statement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the
Financial Reporting Standard applicable In the UK and Ropublic of Ireland IFRS 1021 (Second Edition),
rather than th& Accounting and Reporting by Charilie8'. Statement of Recommended Practice effective
from 1 April 2005 which has since been withdrawn.
The Trust constitutes a public benofit entity as defined by FRS 102.
The TTUStee consider8 that there aye no material uncertainties about the TnFSt's ability to continue as
a going concam.
The preparation of financial statements requires the u88 of certain crllieal accounting estimates. It
also requires management to exercise its judgement in the process of applylng the Trust's accounting
pollcies. The areas involving a higherdegree ofjudgemenl orcomplexity, oi ar8ag where 088umption8
and ests'mates are Signrficant lo the financial statements, are disclosed in note 2.
1.2 Income recognltion
All income 18 reeognised once the Trust has entitlement to the Income, tt is probable that income will
be received and the amount of inGome recelvable can be measured reliably. The followlng ciilerra
must also be met boforo Income is recognised..
Donatlons
Donation8 are recognlsed when both the amount and settlement dales ar8 known.
Grants
Grants receivable are recognised in the period In whlch notification of both the amoutrt and the
settl8menl dales are received.
Lggacles
Legacles are recognised on a case-by-ca8e basls following the grant of probate when the
adminislratorlexeculor for the estate has communicated in writing both the amount and selllement
dale.
Interestlncome
Interest on funds held on deposit is included upon noltfication of the interest b8ing paid or payable.
Page11

THE CITY SOLICITORS, EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENT3
FOR THE YEAR ENDED 31 DECEMBER 2025
A¢¢ountlng policigs Icontlnued)
1.3 Rosources 8xpend8d
Expenditure is recogn18ed in the year when theTe 18 8 legal or Gon8truclive obligation commitiing the
TTUSt to that expenditure. it19 probable that the 8ettlemont will be required. and the amount of the
obligatlon can be measured rgliabty. All expenditure is accounted for on an acciuals b881S.
ChanTtable actlvities
Charitable 8clivthe$ include expenditure In furtherance of the Trust'3 objecliv8s and where appllcable
an allocation of the Trust's support and governance costs. Grant8 are charged to the statement of
financial activrties in the year they are Committed by the Trustee. The liabilities to pay these gr8nl8
are Shown in the balance Sheet under credrtois, amounts falling due wllhin one year or in more than
one year as appropriate.
Governance ¢o$ts
Governance COBts include those costs incurred in the govemance of the Trust ond are primari
associated with constitutional and statutory requirements. Where applicable Ihe8e costs have been
allocated to the Trust'8 charitable aclivrf(ies on a basis con818tenl with the use of the resources.
Stsppt￿ costs
Support costs include 8dmini8trative costs. lthere applicable these cost8 have bgen alloGaled lo the
TrusV8 charitable aGlivi1188 on a ba8is consislenl with the use of the resources.
Irrgcoverable VA T
Irrecovorable VAT is ¢harged against the expendi￿re heading forwhich it was inoUr￿￿.
IA Fund¥
Unr8Strlcted funds
Unrestricted fund$ are funds that thè TNstee is free to Use for any purpose in furtherance of the
haJltable objects.
Restrlcted funds
Restricted fund8 8T8 funds which have legal re51rirtions on their u8e where donof8 hav8 8pecTfied thé
fund8 can only be Spent on specific activilles.
1.5 Flnancial Instruments
The Tnjst has choson to adopt Sections 11 and 12 of FRS 102 in respect of financial Instrument8.
Debtors
Donations and grants Teceivable are inltially recognlsed at tr8ngaction price and thereafter stated at
amortised cost using the effective interest method, less impaimieTrl Ios8es for bad and doubtful dobls
except where the effect of discounting would be Immaterial. In such case5. the debtOTS are stalad at
cost less impalmient losses.
Page 12

THE CITY SOUCITORS, EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2026
Accountlng pollcles {¢ontinugdl
1.5 Flnanclal InstNments {continuodl
Crodltors
Grants payable are inltialty recognlsed at fair value and thereafter $tsled at 8mortl8ed cost Using the
effective interest method unles8 the effect of dl$counting woukl be immaterial, in which case they are
$tated at cost.
Cash and eash equlvalents
Cash and cash equivalen15 comprise cash at bank and In hand.
Impalnnont of flnanclal assets
Financial assets are assessed for indicator5 of impairment at the end of èach reporting period.
Financial assels are considored to be Impaired when there is objeetNe evidence that, as a result of
one or more events that have occurred after the initial recognrtion of tha financk81 asget, the estimated
fulure cash flows from the finan¢ial asset have been effected. Any1089es arlsing from impaiment are
recognised in the Statement of Financial ArtIV￿eS.
Offsettlng
Flnancial assets and liabilrties are offset and the net amounts presented in the financial statomenls
when there is a legally enforceable right to set off the recognised amounts and there is an intèntion to
settle on a nel basis or to realise the a88el and settle the liability 8imu1l8ne0u5￿.
1.6 Forelgn cufftncy translation
The Trust's functional and pre88ntatlon Gurfenoy is the pound slerllng.
1.7 Taxatlon
H. M. Rovenue & Customs has granted the Trust charjty exemption and thus it is exemptfrom taxatlon.
Judgaments In applylng accountlng pollcles and key sourc88 of estlmatlon uncertality
In preparing the financi81 statements management are required to make judgements, eslimales and
assumptions that affect the amounts reported for assets and liabilities as at the balance Sheet dale and
the amounts reported for revenues and expenses during the year. However, the natLtre of estimation
means that actual outcomes could differ from these estimates. Whilst management have made
judgements, Ostimates and assumptions in preparin9 th8 financial statemenls, they consider that these
have not had a signrfi¢anl effect on amounts recogt)ised.
Trustge's oxpensos and rernuneratlon
No Trustee remuneration was paid during the year 12024.. £nil). In addition, no officer of the Trustee
company was paid or reimbur8ed any expense$ during the year12024'. £nll).
Page 13

THE C￿y SOUCITORS. EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Donatlons and legacles
Yoar ended
31 Docgmber
2025
Unrestricted
Funds
Year ended
31 December
2025
Restrlcted
Funds
Year ended Period ended
31 December 31 December
2025
2024
Total
Total
Funds
Fund8
Donallons
Legacies
216.550
50,000
216.560
60,000
603,400
266,550
266.560
603,400
All donations received are for restri¢ted purposes.
Support and governance Gosts
Year ondod
31 December
2025
Unrestrlcted
Funds
Yearended
31 December
2025
RestActed
Funds
Year ended Period end&d
31 December
31 December
2026
2024
Total
Total
Funds
Funds
Support Gosts
Bank charges
16
Gov8rnancg Costs
Audit fee linclusNe of VAT)
3,030
3.030
2,190
2,190
3,030
3,030
3,030
3,036
2,206
Qrants issued
Year onded
Yèar ondgd
Year ended Period ended
31 December 31 Decembgr 31 December
31 December
2025
2026
2025
2024
Unrestrlctod
Restrlcted
Total
Total
Funds
Fund8
Funds
Funds
Hor&ons Programme
SWSQF Programma
{20,5001
178,036
120,500
178.036
74.000
334,163
157,536
167,538
408,163
All grants have been awarded from relevant restricted funds.
Page 14

THE CITY SOLICITORS. EDUCATIONAL TRUST
NOTES TO THE'FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Debtovs
31 December 31 Oecember 31 De¢ornbgr 31 December
2025
202S
2025
2024
Unre5trlcted
Restrlcted
Total
Total
Fund8
Funds
Fundg
Funds
Other Debtor8
so,000
50,000
Croditors: amounts falllng duo Withln one yoar
31 December 31 December 31 Decembgr 31 December
2025
2025
2025
2024
Unregtrlcted
Restrfcted
Total
Tot81
Funds
Funds
Funds
Funds
Accruals and deferred income
3,390
106,938
1qO,328
256,715
Credltors: amounts falllng dug after more than one year
31 December 31 December 31 Decomber 31 December
2025
2025
2026
2024
Unrestrlcted
Restrlcted
Total
Total
Fund8
Fund$
Funds
Funds
Accruals and deferred income
62N64
62,4S4
10. Flnanclal instrumgnts
31 December 31 Dgcomber 31 December 31 December
2025
2026
2025
2024
Unrestrlcted
Restrlcted
Total
Total
Funds
Funds
Funds
Funds
Financial liabilities mea8ured at
amortised cost
3,390
169,392
172.782
256,715
Page 15

YJU
ISI kill

THE CITY SOLICITORS, EDUCATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
12. Relatod party dlsclosures
The Trust's Trustee 18 the Clty of London Solicltors, Company. The City of London Sclicitor8' Company
is also Trustee of The City of London Solicitors, Company Charitable Fund.
Page 17