Charlty number. 1145114 JAMES TUTTIErr CHARITABLE TRUST TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
JAMES TUTTIETT CHARITABLE TRUST CONTENTS Pa9e Raferen¢• •nd admlnl8tratlve detail$ of thg Charfty. lis Tru8ttss #nd dvls•rs Trustee¥. roport Ind•pend•nt auditorn, report on th• flnanclal statem•nts 8tat•m•nt of Ilnanclal actlvStles 10 Balance •h••t Statemont of ca¥h flows 12 Note ta th• flnanclal statom•nts 13-23
JAMES TUrnE CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2025 Trusteei J Tuttiett A Tuttiett Charlty roglstored numbgr 1145114 Prfnclpal offic• Prospect Placè Moorside Road nehe5ter S023 7RX Ind•p8ndont audltorn Zaov Leonard (Senlor Slalulory Audltorl For and on behalf of Harris & Trottef LLP Chartered Accountants & Statutory Auditors 101 New C8vandish Street 181 Floor South London W1W6XH Page 1
JAMES TUThIETh CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 OCT08ER 2026 Th8 Trustees present their annual r8port logother with the financial statemonls of the Jamgs Tutliell Charitable Trust I'lhe Charty") for the year ended 31 October 2025. The financial statements have been prepared in accord8nce with the accounting policies sel out in note I lo the accounts and comply vwilh the Charity's trust deed, the Charities Act 2011, and Accounting and Reporting by Charities.. Statement of R0MMended Practice applicable lo charities prepanng their accounts In 8ccordance wllh the Flnancial ReFX>rting Standard applicable in the UK and Republic of Ireland IFRS 1021. Oble¢tlvwJ Jnd actlvltles a. Pollcles and oblectlve• In setting objectives and planning for aclivilles, the Trustees have given duè consideration lo general guidanc• published by the Charity Commission relating lo public benefit, includlng the guid8nrA 'Public benefit.. running a charity IPB21'. Thè Trustees shall hold the Trust Fund and ils income and apply them towards the proper costs and oxpensgs of establishing and administering the Charity. Subject lo those costs, the Trustees may apply the income of the Trust Fund lo such charitable Instllulions or charilablg purpose$, and In such proportions, as thgy consider appropriate in fvrtherance of the Charity's objectives. In planning our activities fcf the year wè kèpl in mind the Charity Commission's guidance on public benefit al our Iruslee moellngs. The Ch8rtty'8 mi58ion 1$ lo support Nvo key areas:. prolectlng and enhanclng ldI[fe through habilal stewardship and Hampshire community leé prolects. The Trustee$ continued wod(ing Ihls year with a view lo supporting fewer principle causes of a more local nature with more substsntlal donations in the belief that 8 gfealer difference can be made In Ihls way. b. Strntegl88 for achlevlng oblectlv•s Our strategy in achleving our objectives is lo hold an investment portfollo held by a Investment M8na9emenl Company that we continue lo recelve dividends and inlere$l. Also. we continue lo hold an invgstmgnt property that provides the charity wth regular income as well as annual donations being received. During the yo8r. the Charity completed the purchase of Palmers Farm. ils first dediealed nature reserve. Thiy significant acquisition supports the Charity's objective of cr8aling and PTo18cling habitats for nature and marks an important slep in furthering ils long4gnn conservation aims. The Income received is used lo pay out gmnls according lo our objectives. c. Actlvitles undgrtakon to achleve objeetlves During th8 year the Trust did not cary out any fundraising activities and all th8 income was generated from voluntary donations and trom its Investrnenls. d. Granl-maklng policiès The charity has established its grants making policy lo achieve its objectives for the public benefit in accordanc8 lo our trust deed. Page 2
JAMES TUThIETh CHARITABLE TRUST TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025 Achlevements and performancè a. Maln achl8vgmonts ofthe Charlty The charity continues to support local and national charities, This year £79,11 S12024.. £26,700) was granted from the income being received during the year. During Ihe year, the Charity acquired Palmers F8fm, ils first dedicated nature reserve. The aul$ll10n support5 the Charity's objective of creating and protecting habltals fof naturè and wll be managed with the 05sis18nce of th8 Hampshire and l$le ol Wight Wildlife Trust. b. Inve•tment pollcy Thg charlty curr6nlly havo an inv8slmenl portfolio held by an exlornal Inv8slm8nl Managemonl company wlhin the UK. A18c*. the charlty hold pn investment property that gen8ralès Mntal income on an annual basis. Flnjnclal r•vl•w 4. Golng concern After making appropriate enquiries, the Trustees have a reasonable expgct8lion Ihot the Charity has adequate resources lo continue in opgralional existence lor the foro59eable future. For thi5 reason, they continue lo adopt the going concem basis in preparing the financial slat8m8nls. Furthar delalls rggarding the adoption of the going concem b88is can b8 found in the accounting pollGSes. b. Ros•Nos poIIcy Total incoming resources for the yeaf was £547,77312024. £364,175). Total grants paid out during the year towards variou8 causes were £79.11612024. £26,700). The main source of income is received from donations £481.020 12024.. £252,0001 and investment income £88,753 12024.. £112,175). The Charity's lolal funds al tho balance 8he81 syate weffj £5,218,64312024.. £4,657,365), of which cash reserves amount lo £543,79812024.' £2,383,778). In accordance with the Charity Trust D8ed. the Iruslees have the power lo Invest in such assets as thèy see fit. The Charity has a policy of keeping surplLJS liquid funds in short term deposits. This low risk investment policy provided the flexibility in making grants and ensures the charity has adequate funds lo meet ongoing grant commitments and adminislratron cos18 In 8ecordance with rts reserves policy. The level of roserves is considered appropriate given the nature of income. Page 3
JAMES TUTTIETT CHARITABLE TRUST TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 OCTOBER 2026 Structurei governance and manag•rn•nt a. Constitutlon James Tuttb'ett Charllabl6 Trust Is a registered unincorporated tharbty, number 1145114, and is con$trtLrtèd under a Trust deed. The charity was set up by way of a trust d¢ed on the 5th of November 2011, and w88 reglslered wllh the Charity Commission on the 16tr of December 2011. Tru8te85 who served during the ye4r were.. J Tuttlett A Tuttlett b. M•thods of appolftlment or èlgctlon of Trust••• The managemonl of the Ch4rfty 1$ the r8sponsibillty of the Trustees who are elected and co-opted under the lems of the Trust deed. c. Flnanrlal rljk managem•nt The Tru8lèa$ have as80850d the major risks to which the Charity 1$ *xpo$gd, in particular those rglaled to the operallons and finances af the Charity. and are satisfied that 8y$lem¥ and procetJure8 aro in place lo mitigat8 exposurè lo Ihg major risks. Plans for futur• p8rlod• The charrty will c¢Jnlinue lo Support organisalion8 in line wllh the Tru51's oblectlves. Page 4
JAhlES TUThIETh CHARITA8LE TRUST TRUSTEES. REPORT ICONT114UEDI FOR THE YEAR ENDED 31 OCTOBER 2025 Statefflant of Truste. r••pon$lbllltl The Trustees are responsibl? IDr prepaiing the TTuslee5' ¥eport and the finanaal statements in accordance wilh applicable law and United Klngdom Accounting Standards IUDiled Kingdom Generally A¢cepted Accountin9 •ice). The law applicable to chaTits'es in England & Wales requires the Trustees to prepare finanual 3tatemants for each financial bthich givo a true and fair vlew of the state of affairs ijf the Charbly and of its incoming resource$ and application of resources, including rts income anlt expendlture, for that perlod. In pr&paring these financial 8tat•menls, the Trustees are requlred to.. select ¥ultable accounting policies and then apply them consistentty", observe the methods and principles of the Charities SORP IFRS 1021,. make judgments and accounthng 88timate5 Ihat are reasonable and prudent., state whether applicable UK Aecountlng Standards IFRS 1021 have been followed, wbject to any material departures dlsclosed and explained In the hnancial ¥tatements", pr•pare the financlal $talement5 on the golng ceCn basls unl888 It Is Inappropriatè to pr•8ume that the Charily VAII ¢onts"nue in busine$8. The TNstees ar• responsible for k?¢piny adequate accounllng records that are SLtffldent to 8how and explaln the Charity's Iransaction¥ and disclose rgasonable accuracy at any tlme the ffjnanclal posidon of the Charity and tnoble them to ensure that the financial •laternents comply wth the Charities Act 2011, the Charity (Account$ •nd R•port81 Rogulations 2008 and the provislon$ of th¢ Trv¥l deed. They ar? #Iso r•$ponsible lor safeguardlng the assets of the Chgrily and hence for taking rea$onable steps for the prevenlon and detecNon ol fraud and othèr {e9vIarItles. Dl•cloiur8 of Infomi•tlon to Audltorg Each olthe persons who are Trugtees at the lime when IN8 TIu8tees' port is approved ha8 confirmed that.. so far as that Trustee Is aware. there is no relevant audit InformaD'¢n of vthi¢h th• charitys auditors are unaware. and Ihat Truslee ha8 taken al the gteps that ought to have been taken 8s a Trustee in order to be aware of any relevant audit Inforrnab'on 8nd to 88tsblsh that the charityg auditor5 are aware ol that Inlomiatlon. Auditors The auditorB, Harris & Trotter LLP, have bndi¢at•d th?Ir llijne$S to conb'nue in office. The designated TTusle¢¥ vlll propose 8 motion reappointing the audilDf3 81 a meetsng olthe Truslees. Approved by order of the Twglees and gigned on Ih*ir behalf by.. Date.. l? OL& Fage 5
JAMES TUTTIETT CHARITABLE TRUST IP4DEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF JAMES TurriETT CHARITABLE TRUST Opinlon We have audited the financial 8talemenls of James Tuttiatt Charitable Trust Ilhe 'charilll for the year ended 31 October 2025 which cornprise thè Statement of financial aclivilies, the Balance sheet. the Slalement ol cash flows and the related notes, including a summary of slgnlflcanl accounting poliaes. The financial reporting framework that has been applied in their prep8ralion is 8pplicable law and Unrted Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, {Unitsd Kingdom Generally Aecèpl¢d ALIlIng Pfaclicel. The financial reporting tram8work that has bèan applied in Iheir preparation is applicable law and United Kingdom Accounting Standards, including Flnancial R8porting Standard 102 'The Financi81 Reporting Standard applicable In the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Praclicel, and the Ch8nties SORP IFRS 102). This has been done In order for the accounts lo provid8 a true and fair view in 8ccoidance with the Generally Accepted Accounting Practice effoctlve for reporting poriods beglnnlng on or after 1 January 2015. In our oplnion the financial ststements.. glve a true and lalr view of the stale of the charity'8 affairs as at 31 October 2025 and of ils incoming resources and applI110n of resources for the year then ended.. have been property prepared in accordance with United Kingdom Generally Accepted Accounting Pra¢lico". and have been prepared in accordancè with the requlremgnls of Ihe Charllies Aet 2011. Bas18 for oplnlon We conducted our audit in accortlance with International Standards on Audlling IUKI {ISA8 IUK}l and applicable law. Our responsibilities under those standards ar¢ lurthgr described in the Auditors, responsibilities for tho audit ol the financial slalemenls section of our r8POrt. We are independent of the charity in aceordanco with the ethical requiremgnls that are relevant lo gur audit of the financlal slalèmen15 in the United Kingdom, including the FinancAal Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe Ihal the audit evidence we havo oblaingd is sufficient and approprtale lo provide a basis for our opinion. Concluslons relatlng to golng concem In auditing the financial slatemenls, 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 tho work we have performed. we have not identified any material uncertainties relating lo evenl8 or conditions that, individually or Collectively, may cast significant doubl on the charity's ability lo continuè as going concem for a poriod of al least twelve months from when the fi'nancial statements are aulhDfis9d for issue. Our responsibilities and the responslbilfrties of th8 Trustees with respect to going concern are described in the relevant sections of this report. Page 6
JAMES TUrnE CHARITABLE TRUST INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF JAMES TUTTIETT CHARITABLE TRUST (CONTINUED} Othor Informatlon The other infom)alion comprise3 the information included in the Annual report other than the financial $lalements and our Auditors, report thereon. The Trustees are responsible for the other information contained within the Annual rèport. Our opinion on th8 finanaal slalgmenls does not cover the other information and, excgpt lo th6 extent otherwis& explicidy staled in our r9PQrt, we do not express 8ny forrn of assurance conclusion Ihereon. Our rasponsibilily is lo read tha other information and, in doing so, consider whether the other information is materially Inconsislenl with the financial slalemenls trr our knowledge obtained in th8 course of the audit, or olherwi8e appears lo be materially mis8taled. If we identify such material inconsistencies or apparent mat8rial misstatements, we are required to dètermine whether this gives rise lo a material mi5slatemgnt in the financial slalemenls themselve5. If, bas8d on the work we have pgrformgd, we conclude that thère is a materi81 mis5tatemenl of this other information, we are required lo report Ihat fact. W¢ have nothing lo report in Ihl¥ rggaid. Mattors on whl¢h w• are roqulr•d to r•port by exceptlon W• have nothing lo port In respect of the followiny m8tter8 where the Chorilie¥ (Accounts and Report81 Regulations 2008 requires us Its report lo you if, in our opinion.. the Information giv&n in the Trustees. report Is Inconsislenl in any material respect wllh the financial 8lalemenl8'. or Sufficient accounting records have not been k8pl', or the financial st8temenls are not in agieemenl with th& accounting records and rgtums,. or w& hove not received all th8 inforrnalion and explanabons we require for our audit. Responslbllltlos of trustoe8 A8 explained more fully in tho Trustees, responsibilities statement, the Trustees Srè responsible for the preparation of the financial slalemenls which give a Inse and lair view, and for such internal control as the Trust88$ determina is nec&ssary ID enable the preparation of financial $lalemènl$ that are freè from rnalerial misslatemgnl. whethef due lo fraud or error. In preparing the financial statements, the Trustees ar8 responslble for assessing the charity's ability to continue as a going concem. disclosing, as applicable, maller8 related lo going concem and using the going concem basis of accounting unless the Trustges either intend lo liquidate the charity or lo cease 0ratiOns. or have no realistic altemalive bul lo do $0. Page 7
JAMES TUTTIETT CHARITABLE TRUST INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF JAMES TUTTIETT CHARITABLE TRUST ICONTINUEDI Audltor8' r•8ponslbllltles for the audlt of thè flnanclal stat9ments We have been appointed 85 auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulation¥ made or having effect Ihereunder. Our objgclives are lo obtain reasonable assurancg about whether the financial slalemen18 as a whole are frge from material misslalèmenl, whether due lo fraud or error, and lo issue an Auditors, report that includes our opinion. Rea30nable assurance is a high level of assurance. bul is not a 9uaranlee that an audit condvcled In accordance wlh ISA3 IUKI will aVayS delect a material mi55lalemenl when it exists. Mis51alements can arise from fraud or erior and are considered maler181 if, individually or In the aggregate, Ih¢y ¢ould reasonably be exp8cled lo influénce the economic declsions of users tak8n on the basis of these financial sla18menls. Ifregularllie5, Including fraud, are Instances of non-complianee with la and regulations. We design procedures in line with our responsibilities. outlined abovè, lo detect material mlsslatemenls in respect of irregularilie8, inGluding fraud. The exlonl lo whlch our procedures arg c9pable of detecting irregularities, including fraud 18 detailed below.. Thè C*bi8clives of our audit are lo idenlrfy and assess the risks of material mi5$1alemonl of th8 financial Slalements due lo fraud or error., lo obtain sufficient appropriate audit 8vidence regarding the assessed nsks of material rnisslalemenl due lo fraud or error," and lo respond opproprialely to those risks. Owing lo the inherent limllalions of an audit, there is an un8voidable risk that material misslalemenls in the financial statements may not be detected, even though the audit is properly planned and perfomied in accordance with the Charities Act 2011 8rKI The Charities Regul8tlons 2008. In idenlifylng and a¥$essing risks of material misslalernenl in respect of irregularilie¥, including fraud and noncomplianee with laws and regulations. our procedures included the followng.. Vve obtained an understanding ol how the ehaiily is complylng with those legal and rggulalory frameworks by making enquirigs of management. We challenged assumptions and judgments made by management in ils significant accounting eslim8te8. We did not identify any key audit mallers relating lo irre9ularilies, Including fr8ud. A8 PArt of an audit in accord8nc8 with ISAS IUKI, we 8xera$e professional judgment and maintain professional scepllclsm throughout the audit. We also.. Identify and assess the risks of matérial misslalemenl of the financial slalemenls. whelh¢r due lo fr8ud or error, design and perfomi audit procedures responsive lo Ihose risks. and obtain audll evidence that is sufficient and appropriate lo provide a basis for our opinion. The risk ol not delecling a malgrial misslalemenl resulting from fraud is highgr than fgr ong re5ulling from error. as fraud may involve eollu5i9Tr, forgery, intentional omissions. misrepresenlabons, or the override of internal control. Obtain an understanding of inlemal control relevant lo the audit in order lo design audit pr¢xèdures that are appropriat8 in the circumstances, bul not for Ihg purpose of expressing an opinion of the effectiveness of the charity's internal conllol. Evaluate the approprialenes5 of accounting policies used and the reasonableness of accounting eslimales and relaled disclosures made by the Trustees. Conclude on the appropriateness of the Trustees. use of the going concern basis of accounting and, based gn the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubl on the charity's ability to eonlinue as a going concern. If we ccnclude that a rnalerial uncertainly exists, we are required lo draw attention in our ALbditors' report lo the related disclosures in the financial 51alements or, if such disc105ure5 are inadeqL4ale, lo modify our opinion. Our conclusions are based on the audit evidence obtained up lo the date of our Auditors, report. However, future events or conditions may cause the charity lo cease lo continue as a going concern. Page 8
JAMES TUTTIErr CHARITABLE TRUST INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF JAMES TUTTIETT CHARITABLE TRUST (CONTINUED) Evaluate the overall presentation. stru¢lure and conlenl of the financial slalements, including the disclosures. and whether the ffinancial slalements represent the underfying Iran5aclions and events in manner that achieves fair pr8sentatlon. We communicate with those charged smth governance rfjgarding, among other mallers, tho planned Scopg and timing of the audit and signrficanl audit findings, including any significant deficiencigs in inl8rnal control that we identify during our audit. U•è ofour r•port Thls report 18 made solely lo the charity's trustees, as a body, in accordance with Part 4 of the Charllies IAccounts and Reports) Regulations 2008. Our audrt work has been undertaken so that we might slate to the chanty's Iruslees those mallers we are required lo slate to them In an Auditors, report and for no other purpo¥e. To the fullest extent permitt&d by law, we do not accept or a58urne resporisibilily lo anyone other than the charity and its Iruste8s, as o body, ft)r our audit work. for this roport, or for tho opinions we have formed. Z••v Lgonard Isenlor Sthtutory Audltor) For and on behalf of Harris & Trotter LLP Chartèred Accounlanls & Slalulory Auditors 101 Now Cavendish Street 181 Floor South London WIW6XH Date.. Zaev Leonard (Senior Stslulory Audilorl are gligible to act as audilors undor the Charitigs Act 2011. Page 9
JAMES rulETT CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2026 Unrestrlctfrd funds 2025 Total funds 2026 Tot81 funds 2024 Nots Income from: Donations and legacles Invèslmonls 481.020 66.753 481,020 66,703 252,000 112,175 Total Incomo 647,773 547,773 364, 175 Exp•ndltur• on: Charitable acliville8.. Grants paid G0vemae costs Property expenses Investment management fees Profes8ional fggs 79.116 2.454 5,002 9,654 1.796 79,116 2,454 6,002 9,654 1,796 26. 7QQ 3,206 4, 779 16,393 7,020 Total •xp•ndlture 98,022 98.022 58,098 N•t Incom• bofore not galni on Inv•stm•nts Nat gain¥ on Inv8Stmenls N•t mov•ment in funds b•for• oth•r rocognl¥•d 9aln8llloJsesl 449,7S1 93.384 449.761 93,384 306,077 27, 758 11 543,135 643,135 333,835 0th8r rncognised gilnsllloss88}: Gain$ on revaluation of fixed assets 18,143 18.143 223,980 Net movem•nt In funds 561.278 561,278 557,815 Reconclllatlon of lund8: Tol81 funds brought forward Net movement in funds 4.867.365 681.278 4,657,366 561,278 4,099,550 557,815 Total fund5 carrled forward 5,218,643 6.Z18,643 4.657,365 The Slalemenl of financial activities includes all gains and losses COgnIsed in the year. The notes on pages 13 to 23 form part of these financi81 slalemants. Page 10
JAMES TUTllETT CHARITA8LE TRUST BALANCE SHEET A5 AT 31 OCT08ER 2025 2025 2024 Note Flx8d a5uts Investments Investment property 1,755.322 2,998.716 t,598,357 525,000 10 4,752,038 2, 123,357 Currnnt 488•ts Deblors Ca8h at bank and In hand 12 1,470 543,798 172, 130 2,363, 778 550.268 2.535,908 Curr•nt IlablllU•• Credrtors.. arnount• 18lllng due within one year 13 183,1631 fl,900J N•t cuir•nt u••t• 466,606 2.534,008 Totsl a8s•t¥ I cwr•nt Ilabllltl•• 5,218,643 4.657,365 N•t Jiets •xcludlng p•n•lon ••ut 5.218,643 4,fj57,365 Tol•l n•t a•s•ts 6,218,643 4,657,365 Ch•rfty funds Vnre8tri¢ted fvnd$ 14 5.218.643 4,657,365 Totsl luTrd* 5,218.643 4.657,365 The flnancial 8tatements were approved and authorised for issue by the Trustees and signed on their behalf by.. J Tuttt Date.. The notès on pages 13 to 23 fonn pan ol thèse financial Statements. Page11
JAMES TUThIETT CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2025 2026 2024 Nots Ca•h flow from oparatlng actlvltles Net cash used in operating acllvilles 17 630,422 30.OT8 PUh9¥e of Investment property Purchase of investrnen18 Proceeds from sale of invaslmenl Divldends received Intere81 received Rent from investments 11,471,718) 1522,9541 477,515 21,233 22.720 22.800 f997.697) 2,539,242 51,242 45, 734 15,200 Net cash lu••d InVprovld•d by Inv•stlng actlvltl 12,450.4021 1.653,721 Changè In cash and cash •qulvalents In thè year Cash ¥nd cash equivalents at the beginnlng of the year 11,819.9801 2,363,778 1,683,799 679.979 CaBh and cash •qulval•nt• at tho end ol th• y•r $43,798 2,363, 778 The notes on pagos 13 10 23 fomi part of these finanual stalemgnl$ Page 12
JAMES TUTTIETT CHARITA8LE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 General Inlorniatlon James Tuttiett Charitsble Trust ig an unincorporated charity incorporated in England and Wales (charity number.. 1145114} Tha charity r89islered addr855 is Prospect Place. Moorsid8 Road. Wnchesler, Hampshire. S023 7RX. Accountlng pollcles 2.1 8a$ls of preporjtlon of flnanclal statements Tha finanal stslernenls have been prepared in accordance wth the Chafilies SORP IFRS 1021- Accounting and Reporting by Charilie6." Slalemenl tsf Reeommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ir818nd IFRS 1021 leffecliv8 1 January 20191. the Financial Reporting Standard applicablg in the UK and Republic of Ireland IFRS 1021 and the Charflies Act 2011. James Tulliett Charitable Tru51 mee15 the definition ol a public benefit entity under FRS 102. Assets and Ilabililies are initially r8cogni8ed al historical eost or Iransacts'on value unless Othe86 slated in Ihg relevant accounllng policy. 2.2 Income Ail income 58 recognised once the Charity has entitlement lo tho Income, Y( 1$ Probablo that the income will be recelved and tha amount of Income recelvable can be me88ured reliably. Income lax recovgrable in relation to investment income is recognised at the lime the investrnent Income 18 roceivabl•. 2.3 Exp8ndlturn Expenditurè 1$ recggnlsg¢J once there Is a legal or con8lructSve obligation lo transfer economic benefit to a third party. it is probable that a transfer of economic benefits will be required in $ettlgmenl and the amount of the obligation can be measured reliably. Expenditure is elassilied by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs Involved in undertaking each aclivily. Direct costs attributable lo a single activity are allocated directly lo that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable lo a single aclivity are apportioned beiween those acllvities on a basis consislgnl with the use of resources. Central staff costs are allocated on the ba615 01 lime spent, and d&precialion charge5 allocated on the Portion ol th8 asset's us8. Expenditure on charitable activities is incurred on directly undertaking the activili8s which further the Charity's objectives. as well as any associated support Costs. Grants payable are charged in the year when the offer Is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subjecl lo conditions which have not been met al the year end are noted as commitment, bul not accrued as expenditure. All expenditure is IncluVe of irrecoverable VAT. Page13
JAMES TUThIETh CPIARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2026 Accountlng pollcl•8 IcontSnugd 2.4 Intert recelvable Interest on funds held on deposlt Is included when receivable and the amount can be measured rgliably by the Charity", this Is nemally upon nolificalion of the interest paid or payable by the instilLrtion with whom the fijnds are dep05118d. 2.5 Invostments Fixed asset invè$lm•nls are a fomi of financi81 Instrument and are Inllially reeognised 81 thelr transaction cost and subsequently measured al fair value al the Balance sheet dale, unlos8 the value cannot b9 measured reliably in whlch case il is measurèd al cost less impaimenl. Investment gains Ind losses, whether realised or unrealised, are combined and presented a5 'GainsllLossesl on inve¥lmenls' in the Statement of financial 8clivllies. 2.6 Debtor¥ Trade and other deblofs ale recognised at the settlement amount after any trade discount offered. Prepayments are valuod al the amount prepaid net of any Iradg discounts duo, 2.7 Cash at bank and In hand Cash al bank and in hand Includes c48h and short-tem highly liquid inv8slmenl6 with a short maturity cf threè months or less from the dale of acquisitson or openin9 of the deposll or similar account. 2.8 Liabilltles and provlslons Li8billlies are recognised when there18 an obligation al Ihg Balanco sheet dalè as a result of a past event, il 1$ probable that a transfer of economic benefll wlll be required in settlement, ond the amount of the settlement can be estimated rèliably. Liabilities are recognised al the amount that the Charity anlicip8tes il will pay to settle the debt or the amount it ha8 rè¢gived a5 advanced payments for the goods or 8eNiees it musl provlde. Provision5 are measured al the best estimate of the amounts required lo settle the obligation. Where the effgct of the lime value of money is material, the provision is based on the present value of thosè amount$. discounted al the pre-tax discount rale that reflects the risks sp1C lo the liability. The unwinding of the dlscount is re¢ognised in the Statement of financial aclivitses as a finance cost. 2.9 Flnancial Instruments The Charity only has financial ass81s and financial liabilities of a kind that qualify as basic financial instruments. Basic financial inslrLJmenls a initially recognised at transaction value and subsequently measured at their seillemenl value with the exception of bank loans which are subsequently moasured al amort18ed cost using the effèctive interest method. Page 14
JAMES TUTTIErr CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2026 A¢counUng pollcles Icontlnuedl 2.10 Fund accountlng General funds are unreslricled funds which are available for use al the discretion ol the Trust88s in furtherance of the general objectives of the Charity and lch have not been designated for other purposes. Designated funds comprise unrestrictéd funds that have been sel aside by the Trustees for partlcular purposes. The aim and L48e of each dgsignaled fund Is sel out In the nol¢s lo the flnanrial slalemenl8. Invejtment incomo, 98lns and losses are allocated lo the appropriate fund. Income from donatlons 4nd l•ga¢l Unrestrlct•d lund8 2025 Totsl funds 2025 Total funds 2024 Donations 481,020 481.020 252,000 Tol812024 252,000 252,tWO Inve5tm•nt Income Unr•Jtrkt•d funds 2025 Total funds 2026 Total lunds 2024 Inve$lmenl propety rènt81 income Dividonds from listed investment Dividends from inv8slment In 8ssoci*e5 Bank InteSt received Interest from investments 22,800 17.198 4,035 467 22,800 17,198 4,035 467 15,200 30,541 20, 700 106 22,253 22.253 45,628 66,753 66.753 112,175 To1812024 112,IT5 112,IT5 Page 15
JAMES TuTTlE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2026 Analysls of grants Grants to In8tltutlon8 2025 Total funds 2028 Total funds 2024 Grants paid 79,118 79,116 26, 700 Total 2024 26, 700 26, 700 Analy•lg of gxpondlturo on charltable *ctlvltlg$ Summary by fund type Unrnstrlcted funds 2025 Total 2025 Total 2024 Grants paid Property expenses Governance c081s Invgslmenl management fe¢$ Prof8s6i0nal foes 79,116 5.002 2.454 9.654 1,796 79,116 5,002 2,464 9,854 1,796 26,700 4, 779 3,206 16.393 7.020 98,022 98,022 58,096 Total 2024 58,098 58,098 Page 16
JAMES TUThIETT CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 OCTOBER 2026 Analysls of expendlturè by a¢tlvltlos Activities und•rtak•n dlroctty 2026 Grant fundlng of Ictlvltles 2026 Total funds 2025 Tol81 funds 2024 Grants paid Propgrty expenses Govem8nce cost8 Investment managemènt fees PrOfeSsnal fees 79,116 79,116 6,002 2.454 9.664 1.796 26. 700 4.779 3,206 16.393 7,020 5,002 2,454 9.654 1.796 18,906 79,116 98,022 58,098 Total 2024 31,398 26, 700 58,098 Audltor¥' remun•ratlon 2025 2024 Fees payable la the Charity's auditor for the audit of the Charity'8 annual accounts 1.960 1,900 Trustg8s' remun•ratlon and expenses During the year, no Trustees receivad any remuneration or other benefits (2024- £NIL). During the year ended 31 October 2025, no Tru51ee expense5 have bgen incurred f2024- £NIL). Page 17
JAMES TurriETT CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 10. Inv•stmgnt prOlty Freehold Investment prop•rty Valu•tlon Al 1 Novèmber 2024 Addltlons 526.000 2,471.718 Al 31 October 2025 2,996.718 The 2025 v81ualions were made by the Iru¥lees, on an open market value for exl81ing use ba8[8. 11. Flx•d 4$¥gt Invo8tment5 Ll¥tod Unll•t•d Inv•8tmonts Inv•stmont$ Total Coit or valuatlon Al 1 November 2024 Additions Disposals Revalualions 1,608,434 022,964 1459,3731 95,926 91,924 1.598,358 622,964 {459,373) 93,384 12,6421 At 31 Octobei 2025 1.665,940 89.382 1,755.322 Ngt book valu• At 31 October 2025 1.666,940 89,382 1,755,322 At 31 Octobèr2024 1.506.434 91,924 1,598,358 Li51ed and unlisted invèstment5 arg slated 8t market value. Page 18
JAMES TurriETT CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 12. Dobtors 2025 2024 Due wlthin on• year Prepayments and accrued income 6,470 172. 130 6,470 172, 130 13. ¢redltorn: Amounts fllllng due wlthln on• yoor 2025 2024 Trade creditors Accruals and deferred income 81,714 1.949 1,900 83.663 1,900 Page 19
JAMES TurriETT CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCT08ER 2025 14. Statomont of lunds Statement of fvnds - current year Balance at 1 Novomber 2024 Balancè at Galnsl 31 Octobgr (Lossesl 2026 Tr4n$fers inlout Income Expendlture Unrestricted nds D•sign*tod funds Desfjnalgd Funds- all fiJnd8 (79,1161 79,118 Genèro1 funds Genero1 Fund8 - all funds 4,657,36S 647,773 {18.9061 {79,116) 111,527 6.218,643 Tot•1 Unrestrlct•d funds 4,657,366 647,773 {98,022) 111,627 6,218,643 Page 20
JAMES TurnETT CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 14. Statomont of lunds Icontlnuodl Statement of funds - prlor year Balancg 81 l November 2023 Balance 8t 31 Octobèr 2024 Transfers in/oul Gein (Losges) Income Expenditure Unrostrl¢t•d funds Daslgnat•d funds Designated Fund8- all lunds 126, 700) 26, 700 Gonoral funds General Funds- all funds 4,099,550 364, 175 (31,398) (26, 700) 251, 738 4,65T,365 Total Unrestrlct•d fund• 4,099,550 364, 175 (58,098) 251, 738 4.657,365 IS. Summary offund8 Summary offunds- curr•nt ygar Balanco at 1 Novgmb•r 2024 8alanc• at GaIn 31 O¢lober IL05sesl 2025 Transf•rg Inlout Income Expendltur• Oesignaled funds General funds 179.1161 118.9061 79,116 179,1161 4,857,365 547.773 111.627 5,218,643 4,657,365 547,773 198,0221 111,527 5,218.643 Page21
JAMES TUTTIETT CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2026 16. Summary offunds Icontlnuodl Summary of fund8 - prlor year 8818n al I Novombef 2023 Balance at 31 October 2024 Trensfers in/oul G8ins/ fLossgsJ Income Expgnditur& Designated funds General fvnd8 (26, 700) (31, 398) 26, 700 (26, 700) 4,099,550 364, 175 251,738 4,657,365 4,099,550 364, 175 (58,098) 251, 738 4, 657,365 16. Analy¥l¥ of not aysots bgtw•en lund¥ Analysls of net as•et8 b8tweeN fvnd8 - current year Unrestrlcted funds 2026 Total funds 2025 Fixed asset inve$lm8nls Inve$lrnent property Current assets Credllor$ ¢Jue wilhln on• year 1,755,322 2.996.716 550,268 183,6831 1.765,322 2.996.716 550,268 {83,6631 Total 5.218,643 5,218,643 AnatyJl• of n•t as59t¥ betw••n funds . prlor year Unr&stiictgd fiJnds 2024 Totèl lunds 2024 Fixed assd investments Investment propety Current ossels Creditors due within one year 1,598,357 525,OQO 2,535,908 fl,900J t, 598,357 525,000 2,535,908 (1.900) Total 4,657, 365 4,657.365 Page 22
JAMES TUTTIETh CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 17. R•con¢lllatlon of not movpmgnt In funds to net ca8h flow from operating a¢tivitie# 2026 2024 Nel income for the ygar las per Statement of Financial Aclivilies) 543,138 333,835 AdJustments for: L05se51gain$ on investment8 Dividends, interests and rent$ from inveslrnents Ilncreaselldecrease in debtors Incre¥selldecrease} in creditors 193,3841 188,7S31 10S,659 81,705 f27, 758) (112, 176) (161,330) (2,493) N•t c•¥h provlded by operatlng actlvltlos 630,422 30,078 18. Analy•l• of ca#h and ca•h •qulval8nts 2025 2024 Cash In hand 543,798 2,363, 778 Total cash and cash equlvalents 643,798 2,363, 778 19. Analy•l• of chang95 In net debt At1 Novombor 2024 Cash flows Al31 October 2026 Ca¥h al bank and in hand 2,363,778 11.819.980) 643,798 2.363,778 11.819.980) 543,798 Related party transactlons During the year a donation of £481,02012024.. £252,000) was received, without re$lri¢lions, from a company in which a trustee is a director. During the year dividends of £4,03512024". £20,700) were re1v8d. without restrictions. from company in which a trustee 1$ a director. Page 23