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2025-12-31-accounts

Charity registration number 1143496 (England and Wales)

THE NISBET TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

THE NISBET TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr A Nisbet
Mrs A M Nisbet
Mr J P Nisbet
Miss E R Nisbet
Ms Z J Joyner
Mr H L M Bothamley
Charity registration England and Wales 1143496
Principal address 40 Berkeley Square
Bristol
BS8 1HP
Auditor Simpkins Edwards Audit LLP
The Summit
Woodwater Park
Pynes Hill
Exeter
EX2 5WS
Bankers Arbuthnot Latham & Co. Limited
Arbuthnot House
20 Finsbury Circus
London
EC2M 7EA

THE NISBET TRUST

CONTENTS

Page
Trustees' report 1 - 2
Statement of trustees' responsibilities 3
Independent auditor's report 4 - 6
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Notes to the financial statements 10 - 18

THE NISBET TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

The trustees present their annual report and financial statements for the year ended 31 December 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".

Objectives and activities

The objects of the charity are to act as a resource (whether directly or by providing funding or assistance to existing organisations) for young people living in and around the area of benefit by providing advice, assistance and organising programmes of physical, educational and other activities as a means of:

The "area of benefit" is that of Greater Bristol.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. In the opinion of the trustees all of the grants and donations made are in accordance with the objects of the trust and accordingly benefit the public.

Achievements and performance

During the year, the Charity’s normal grant making continued. 164 grants have been awarded. Further details as shown in the notes to the accounts.

The key areas of interest are:

- Children and Young People

Prioritising organisations and projects which support disadvantaged young people to gain skills and qualifications for employment.

- The Arts

Supporting performance venues and activities for disadvantaged children and young people.

- Prevention of Homelessness

Including support for organisations who provide advice and guidance to people at risk of losing their homes.

- Community Cohesion

Projects which support equality, diversity and social inclusion for high need groups from all communities in the city.

Grants and donations awarded during the year can be summarised by the following sectors:

Children & Young People 54%
Arts 4%
Prevention of Homelessness 9%
Community Cohesion 26%
Other 7%
-----------
Total 100%
-----------

THE NISBET TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Decision making process for grants

The Trust has an established application process detailed on their website (www.nisbettrust.co.uk). Applicants apply using an electronic application form. Trustees meet quarterly to discuss applications and make funding decisions. Where appropriate, the Director and Trustees visit applicant organisations as part of the due diligence process. Visits are also made during the grant period to learn about progress. Successful applicants are required to provide a detailed report annually during their grant or at the end of the grant period.

Financial review

During the year, the charity made grants totalling £2,826,637 (2024: £3,049,576) from the total donations received of £3,000,000 (2024: £2,500,000). Net income for the year was £105,722 (2024: net expenditure £586,179). There were accumulated funds brought forward of £926,412 (2024: £1,512,591), thus leaving a balance of reserves of £1,032,134 (2024: £926,412) to carry forward. All funds are unrestricted.

With charity running costs being minimal, reserves represent amounts available to the trustees to make further grants, including meeting commitments relating to multi-year grant awards. All such awards are conditional on the awardee meeting specified criteria and are therefore not reflected as liabilities on the charity's balance sheet. However, the trustees recognise the importance of maintaining reserves to meet those commitments.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is controlled by its governing document, a deed of trust dated 4 August 2011 and constitutes an unincorporated charity.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr A Nisbet

Mrs A M Nisbet Mr J P Nisbet Miss E R Nisbet Ms Z J Joyner Mr H L M Bothamley

The power of appointing new trustees of the charity is vested in the continuing Trustees.

The trustees' report was approved by the Board of Trustees.

Mrs A M Nisbet

Trustee Dated: 21 July 2026

THE NISBET TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2025

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE NISBET TRUST

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE NISBET TRUST

Opinion

We have audited the financial statements of The Nisbet Trust (the ‘charity’) for the year ended 31 December 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting 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 Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

THE NISBET TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE NISBET TRUST

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. In so doing, we considered the following:-

As a result of these procedures, we considered the opportunities and incentives that may exist within the charity for fraud and identified the greatest potential for fraud in relation to the misappropriation of funds allocated for grant awards. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context relate to the UK Charities Act.

Our procedures in response to the risks identified included the following:

THE NISBET TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE NISBET TRUST

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

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan Williams BSc FCA CTA (Senior Statutory Auditor)

For and on behalf of Simpkins Edwards Audit LLP, Statutory Auditor Chartered Accountants The Summit Woodwater Park Pynes Hill Exeter EX2 5WS 19 August 2026

Simpkins Edwards Audit LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

THE NISBET TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Donations and legacies 3,000,000 2,500,000
Investments 2 13,790 16,990
Total income 3,013,790 2,516,990
Expenditure on:
Charitable activities 3 & 4 2,908,068 3,103,169
Total expenditure 2,908,068 3,103,169
Net income/(expenditure) and movement in funds 105,722 (586,179)
Reconciliation of funds:
Fund balances at 1 January 2025 926,412 1,512,591
Fund balances at 31 December 2025 1,032,134 926,412

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE NISBET TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2025

Notes
Current assets
Cash at bank and in hand
Creditors: amounts falling due within
one year
8
Net current assets
The funds of the charity
Unrestricted funds
10		 2025
£
£
1,039,556
(7,422)
1,032,134
1,032,134
1,032,134		 2024
£
£
934,189
(7,777)
926,412
926,412
926,412		 2024
£
£
934,189
(7,777)
926,412
926,412
926,412
926,412
926,412

The financial statements were approved by the trustees on 21 July 2026

Mrs A M Nisbet

Trustee

THE NISBET TRUST

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025

Notes
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
12
Investing activities
Investment income received
Net cash generated from investing activities
Net cash generated from financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
£
91,577
13,790
13,790
-
105,367
934,189
1,039,556		 2024
£
£
(248,392)
16,990
16,990
-
(231,402)
1,165,591
934,189

THE NISBET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1 Accounting policies

Charity information

The Nisbet Trust is an unincorporated charity and registered in England and Wales. The charity's principal address is 40 Berkeley Square, Bristol, BS8 1HP.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

1.6 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

THE NISBET TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

1 Accounting policies

(Continued)

1.8 Grant Making

Grants that fulfil the objectives of the charity are offered subject to conditions.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

2 Investments

**Unrestricted ** Unrestricted
funds funds
2025 2024
£ £
Bank interest received 13,790 14,497
Interest receivable on loan to Bristol Together CIC - 2,493
13,790 16,990

3 Expenditure on charitable activities

Charitable Charitable
expenditure expenditure
2025 2024
£ £
Direct costs
Staff costs 49,382 11,203
Audit and accountancy fees 4,469 3,959
Consultancy fees 7,905 37,308
Printing and stationery - 30
Bank fees - 473
IT software and consumables 14,218 -
Advertising and marketing 4,800 120
General expenses 657 500
81,431 53,593
Grant funding of activities (see note 4) 2,826,637 3,049,576
2,908,068 3,103,169
Analysis by fund
Unrestricted funds 2,908,068 3,103,169

THE NISBET TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

4 Grants payable

2025 2024
£ £
Grants to institutions:
Trinity Community Arts Ltd 220,000 20,000
Black South West Network 100,000 400,000
Gympanzees 100,000 -
The Underfall Yard Trust 100,000 -
Bristol Together CIC - 100,000
Youth Moves 75,000 33,000
Eastern Christian Family Centre 50,000 -
Saint Andrew's Church 50,000 -
Friends of Jubilee Pool - 50,000
Ambition Lawrence Weston 30,000 180,000
Bristol Music Trust 30,000 -
Bristol Zoological Society (Downs Project) 30,000 -
Creative Youth Network 30,000 30,000
InHope 30,000 30,000
Growing Futures 30,000 30,000
St Mary Redcliffe 30,000 30,000
North Bristol Advice Centre 30,000 16,500
The Bridge Foundation 30,000 30,000
South Bristol Consortium for Young People 30,000 30,000
The Watershed Arts Trust Ltd 30,000 30,000
Wellspring Settlement 30,000 30,000
Young Bristol 30,000 -
FareShare South West - 30,000
The Key: Unlock Potential - 30,000
Southmead Development Trust - 30,000
Oasis Community Hub North Bristol 28,993 25,300
Somali Resource Centre 27,406 26,352
Bristol NW Food Bank 25,000 -
Housing Matters 25,000 25,000
Bristol Legacy Foundation 25,000 25,000
OTR Bristol / Off the Record 25,000 30,369
Talking Money 25,000 20,000
Creative Shift CIC - 24,516
Jamaica Street Studios 22,000 -
Tobacco Factory Arts Trust 22,000 20,000
Bristol Refugee Rights - 22,000
Global Goals Centre 20,968 20,595
Royal West of England Academy 20,765 20,004
The Vench & Groundwork South Ltd 20,200 20,200
Addiction Recovery Agency Ltd 20,000 -
Bricks 20,000 15,000
Bristol Cathedral Trust 20,000 -
Changing Tunes 20,000 20,000
Eastside Community Trust 20,000 22,250
The Green House 20,000 20,000
Hartcliffe City Farm CIC 20,000 -
St. Werburghs City Farm 20,000 15,000
The Wheels Project Ltd 20,000 20,000

THE NISBET TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

4 Grants payable (Continued)
Unique Voice CIC 20,000 20,000
Voscur 20,000 26,170
Working Young 20,000 -
We the Curious Ltd 20,000 20,000
Women's Work Lab 20,000 20,000
Hartcliffe Community Farm - 20,000
The Matthew Tree Project - 20,000
Caring in Bristol Ltd - 20,000
ACTA Community Theatre Ltd 19,471 18,369
Universify Education 19,200 16,750
Avon & Bristol Law 18,000 18,000
Bristol Old Vic Theatre School Ltd 18,000 18,000
BABBASA Youth Empowerment Projects CIC 17,500 45,000
Bristol Family School 17,200 -
One 25 Ltd 17,000 35,000
St Mungo Community Housing Association 16,500 16,500
Access Sports CIO 16,050 15,000
Re:work - 15,216
Ablaze 15,000 15,000
All Aboard WaterSports 15,000 15,000
APE Project C.I.C 15,000 15,000
Artspace Life Space 15,000 15,000
Aid Box Community 15,000 15,000
Bristol Old Vic & Theatre Royal Trust Ltd 15,000 -
Borderlands South West 15,000 15,000
Coexist Community Kitchen CIC 15,000 10,000
Circomedia 15,000 10,000
Community Church @ Lawrence Weston 15,000 15,000
Grassroot Communities 15,000 10,000
Key4Life CIO 15,000 15,000
Knowle West Media Centre 15,000 15,000
Heart of BS13 15,000 10,000
Ignite Life 15,000 15,000
NSPCC 15,000 20,000
SS Great Britain Trust 15,000 -
St Pauls Advice Centre 15,000 15,000
Star Scheme 15,000 20,000
Stand Against Racism & Inequality 15,000 20,000
Step Together Volunteering Ltd 15,000 15,000
Travelling Light Theatre Company 15,000 15,000
Windmill Hill City Farm Ltd 15,000 15,000
1625 Independent People - 15,000
The Nelson Trust - 15,000
Learning Partnership West CIC 14,800 14,800
Crimestoppers West Country - 14,762
Lawrence Weston Community Farm 13,453 11,000
Bristol Bears Community Foundation 13,000 13,000
Seamills Primary School 13,000 12,000
MusicSpace 12,599 12,231
Bristol Hospitality Network 12,481 12,481
Full Circle @ Docklands Ltd 12,000 12,000

THE NISBET TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

4 Grants payable (Continued)
South Bristol Advice Services 12,000 12,000
LWOOSA 11,000 11,000
Unseen UK 10,711 10,855
The Bristol Ensemble Ltd 10,250 10,000
Action for Conservation 10,000 -
Arnolfini Gallery CIO 10,000 -
Avon Wildlife Trust 10,000 -
Barton Hill Activities 10,000 -
Bristol Carers Centre 10,000 -
Bristol City of Sanctuary 10,000 15,000
Bristol Drugs Project Ltd 10,000 10,000
Bristol Parent Carers 10,000 10,000
Bristol Zoo 10,000 -
Citizens Advice Bristol 10,000 10,000
Clifton High School Foundation 10,000 10,000
Digilocal CIO 10,000 10,000
Empire Fighting Chance 10,000 210,000
Family Action 10,000 10,000
Hawkspring 10,000 10,000
Hillfields Community Garden 10,000 -
Incredible Kids 10,000 10,000
Insane Root Theatre 10,000 -
Kingsmeadow MadeForever 10,000 -
Life Cycle 10,000 10,000
Lifeskills Learning for Living 10,000 6,000
Lockleaze Sports Centre 10,000 10,000
The MAZI Project CIC 10,000 15,000
Oasis Academy Brightstowe 10,000 10,000
Power Town CIC 10,000 -
Puppet Place 10,000 -
Refugee Welcome Homes CIC 10,000 -
Spear Bristol 10,000 10,000
Square Food Foundation 10,000 -
Step and Stone (Kippax & Stone) 10,000 10,000
St Pauls Carnival (Bristol) CIC 10,000 25,000
St Werburghs Community Association / Centre 10,000 10,000
Talk About Trust 10,000 -
Turnaround Bristol 10,000 -
Wave Project 10,000 -
Ad Infinitum - 10,000
Love Squared - 10,000
Mothers for Mothers - 10,000
Project MAMA - 10,000
The Southmead Project Ltd - 10,000
St George's Bristol - 10,000
The Carers Support Centre (Bristol & South Glos) - 9,487
Misfits Theatre 9,922 9,450
MV Balmoral 9,550 9,100
Bristol 24/7 CIC 9,270 9,270
The Rock Community Centre 9,000 9,000
Bridges for Communities 8,000 7,500

THE NISBET TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

4
Grants payable
Bristol Initiative Trust 1996
Jacari
Quartet Community Foundation / BYCA
Arnos Vale Cemetery
Handstand Arts CIO
Creative Connex
BAND
Bath Baby Check CIO
Bristol Bike Project
Bristol Child Contact Centre
Bristol Foster Carers Network / Association
Bristol & Anchor Almshouse Charity
CCS Adoption
Childrens Scrapstore
Clifton Suspension Bridge Trust
CRuNCH
Dovetail Orchestra
Helping Homeless Believe
Hope's Place Ltd
Impermanence Dance
Just Like Us
Khaas
Keynsham Music Festival Association Ltd
Science Creates Outreach
Shirehampton Methodist Church
Young Carers Development Trust
Barton Camp
Bristol (Adventure) Unit of the Sea Cadets Corp
Filwood Hope Ltd
Many Minds
Oasis Hub South Bristol
Severn Vineyard Church
43rd Bristol Scouts
Amounts < £5,000
Grants to individuals		 (Continued)
-
6,054
6,000
5,000
6,000
5,000
5,683
-
-
5,500
-
5,500
5,000
5,000
5,000
5,000
5,000
-
5,000
5,000
5,000
6,000
5,000
-
5,000
5,000
5,000
-
5,000
5,000
5,000
-
5,000
10,000
5,000
-
5,000
5,000
5,000
30,000
5,000
-
5,000
-
5,000
-
5,000
5,000
5,000
5,000
5,000
-
-
5,000
-
5,000
-
5,000
-
5,000
-
5,000
-
5,000
-
5,000
21,665
25,495
2,826,637
3,049,576
-
-		 (Continued)
-
6,054
6,000
5,000
6,000
5,000
5,683
-
-
5,500
-
5,500
5,000
5,000
5,000
5,000
5,000
-
5,000
5,000
5,000
6,000
5,000
-
5,000
5,000
5,000
-
5,000
5,000
5,000
-
5,000
10,000
5,000
-
5,000
5,000
5,000
30,000
5,000
-
5,000
-
5,000
-
5,000
5,000
5,000
5,000
5,000
-
-
5,000
-
5,000
-
5,000
-
5,000
-
5,000
-
5,000
-
5,000
21,665
25,495
2,826,637
3,049,576
-
-
3,049,576
-

The Trust has made a number of grant commitments to fund charitable activities in the Bristol area for periods of up to four years from the date of offer. All such grants include a requirement to provide an annual report by a specified period before subsequent funding is released. Such subsequent funding is not recognised as a liability in these financial statements due to this performance related condition. The commitments will be funded from reserves and future income from donations.

THE NISBET TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

5 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

6 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
1 1
Employment costs 2025 2024
£ £
Wages and salaries 41,579 10,028
Social security costs 5,239 1,175
Other pension costs 2,564 -
49,382 11,203

There were no employees whose annual remuneration was more than £60,000.

7 Taxation

The charity is exempt from taxation on its charitable activities.

8 Creditors: amounts falling due within one year

Trade creditors
Other creditors
Accruals and deferred income
9
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2025
£
-
3,703
3,719
7,422
2025
£
2,564		 2024
£
3,000
1,777
3,000
7,777
2024
£
-

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

THE NISBET TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

10 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At
General funds
Previous year:
At
General funds		 1 January
2025
Incoming
resources
Resources
expended
At 31
December
2025
£
£
£
£
926,412
3,013,790
(2,908,068)
1,032,134
1 January
2024
Incoming
resources
Resources
expended
At 31
December
2024
£
£
£
£
1,512,591
2,516,990
(3,103,169)
926,412

11 Related party transactions Transactions with related parties

During the year the charity entered into the following transactions with related parties:

The charity received donations in the year of £3,000,000 (2024: £2,500,000) from Key West (Holdings) Ltd. Mr A Nisbet, Mrs A M Nisbet, Mr J P Nisbet and Miss E R Nisbet are directors and shareholders of that company.

During the year, grants were paid to The Underfall Yard Trust amounting to £100,000 (2024: £nil). An employee of this charity is also a trustee of that charitable trust. The usual grant making processes and procedures were followed when this grant was approved.

12
Cash generated from/(absorbed by) operations
Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Movements in working capital:
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Cash generated from/(absorbed by) operations		 2025
£
105,722
(13,790)
-
(355)
91,577		 2024
£
(586,179)
(16,990)
350,000
4,777
(248,392)

THE NISBET TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

13 Analysis of changes in net funds

The charity had no debt during the year.