REGISTERED CHARITY NUMBER: 1149600
Report of the Trustees and
Financial Statements for the Year Ended 5th Aprll 2025
for
Elgar Family Charitable Trust
The Richards Sandy Partnership
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU

Elgar Family Charitable Trust
contents of the Financial Statement
for the Year Ended 5th April 202
Reference and Administrative Details
Report of the Trustees
Independent Examiner's Report
Statement of Financial Activitles
Balance Sheet
Notes to the Financial Statements
Page
1
2 to 3
4
6
7 to
13

•
Elgar Family Charitable Trust
eference and Administrative Detail
or the Year Ended 5th April 202
TRUSTEES
PRINCIPAL ADDRESS
REGISTERED CHARITY NUMBER
INDEPENDENT EXAMINER
SOLICITORS
BANKERS
INVESTMENT MANAGERS
Miss H F Elgar
Mr M F Messenger
Mr D A Watson
Mr MW Trott
c/o Hallmark Whatley Hulme
3,4 and 5 Sansome Place
Worcester
Worcestershire
WR1 1UQ
1149600
The Richards Sandy Partnershi
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU
Hallmark Whatley Hulme
3,4 and 5 Sansome Place
Worcester
WR1 1UQ
Brown Shipley
2 Moorgate
London
EC2R 6AG
Brown Shipley
2 Moorgate
London
EC2R 6AG
Page 1

Elgar Family Charitable Trust
Report of the Trustees
for the Year Ended 5th April 2025
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main object of Elgar Family Charitable Trust is to support any charity or further any charitable purpose chosen by
the trustees.
nce the National Trust took over the running of The Firs from The Elgar Foundation (a separate charity) in Decemb
16, the charity is also committed to funding any shortfall requirements at The F
Public benefit
The trustees confirm that they have complied with the duty in section 17(5) of the 2011 Charities Act to have due regard
to the guidance on public benefit published by the Charity Commission when deciding on the charity's activities.
ACHIEVEMENTS AND PERFORMANCE
Total incoming resources during the year amounted to £55,260(2024; £46,801) which was made up of income from
investments and royalty income.
Grants awarded by the charity in the year totalled £1,000 (2024: Enil).
FINANCIAL REVIEW
Financial position
The principal funding source is income from the charity's investments, Dividend, Royalties and Interest Receivable
were £36,769 (2024: gain of £94,033), leaving a net decrease in funds of £397,687 (2024: net increase of E97,185).
Investment policy
le Elgar Family Charitable Trust has no restricted funds and a total return approach is used for the management of it
vestment portfolio. Brown Shipley act as Investment Manager to the Trustee:
All income is generated from assets which are unrestricted.
Reserves policy
Total unrestricted general reserves at 5 April 2025 amounted to £2, 160,629 (2024: £2,483,316), all of which relate to
unrestricted funds. Of this, Enil (2024: £504, 176) relates to freehold property and £1,671,569 (2024: £1,729,938) relates
to investment assets held to produce income to enable the charity to fulfil its objectives. This leaves free reserves of
£489,060 (2024: £249,202).
STRUCTURE, GOVERNANCE AND MANAGEMENT
o Egin Family Charitable Trust is constituted under a trust deed dated 24 August 2012 and registered as a charity e
November 2012 (Charity number 114960(
The recutien an appointment new truste is carried out at the discretion of the current trustees.
Page 2

Elgar Family Charitable Trust
Report of the Trustees
for the Year Ended 5th April 202!
STRUCTURE, GOVERNANCE AND MANAGEMENT
Decision making
The Founder, at present the settler Hilary Frances Elgar (a trustee), has the following powers under the trust deed:
- The power to appoint new trustees (providing the total number of trustees shall at no time exceed four);
The power to direct the trustees to make donations to such charitable institutions at such time or times and in
such manner as the Founder directs. Where the Founder has not by 5 April in the income tax year following that
in which the income arises, given a direction which fully, disposes of the income, then such income shall be
distributed as the trustees, in their discretion, think fit.
- The power of appointing a person or persons to succeed the Founder is vested in the Founder for the time
being.
Apart from decisions made by the founder, decisions are made by majority vote.
Holding Trustees
The following trustees are holding trustees of all property included within tangible fixed assets:
- Miss H F Elgar
- Mr MF Messenger
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate
controls are in place to provide reasonable assurance against fraud and error.
EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.
Approved by order of the board of trustees on
21/03/2026 and signed on its behall by:
AWa
MFDA Watson - Trustee
Page 3

Independent Examiner's Report to the Trustees of
Elgar Family Charitable Trust
dependent examiner's report to the trustees of Elgar Family Charitable Trus
report to the charity trustees on my examination of the accounts of Elgar Family Charitable Trust (the Trust) for the ye
ended 5th April 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 2011 ('the Act).
eport in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying c
/ examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b)|
Independent examiner's statement
1 have completed my examination. I confirm that no material matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect:
1.
2.
3.
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
the accounts do not accord with those records; or
a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
el-
Melissa Godwin ACA ACCA
The Richards Sandy Partnership
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU
Date: 27-03:16.
Page 4

Elgar Family Charitable Trust
Statement of Financial Activities
for the Year Ended 5th April 2026
2025
Unrestricted
funds
2024
Total
funds
INCOME AND ENDOWMENTS FROM
Investment income
EXPENDITURE ON
Raising funds
Charitable activities
Charitable activities
Other
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
Notes
3
55,260
46,801
4
5
9
24,339
12,663
304,176
341,178
(36,769)
(322,687)
23,580
20,069
-
43,649
94,033
97,185
2,483,316
2,160,629
2,386,131
2,483,316
The notes form part of these financial statements
Page 5

Elgar Family Charitable Trust
Balance Sheet
5th April 2025
Notes
FIXED ASSETS
Tangible assets
Investments
CURRENT ASSETS
Stocks
Debtors
Cash at bank
CREDITORS
Amounts falling due within one year
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
Unrestricted funds
TOTAL FUNDS
15
16
18
2025
Unrestricted
funds
2024
Total
funds
1,671,569
1,671,569
200,000
13,337
276,729
490,066
(1,006)
489,060
2,160,629
2,160,629
2,160,629
2,160,629
504,176
1,729,938
2,234,114
4,621
248,634
253,255
(4,053)
249,202
2,483,316
2,483,316
2,483,316
2,483,316
The dinars or were are on is behal by:.
approved by the Board of Trustees and authorised for issue on
The notes form part of these financial statements
Page 6

Elgar Family Charitable Trust
Notes to the Financial Statements
for the Year Ended 5th Aprif 2025
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in
accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of
Charites Act 2011. The financial statements have been prepared under the historical cost convention, with the
exception of investments which are included at market value, as modified by the revaluation of certain assets.
The charity is exempt from preparing a cashflow statement because it is not a larger charity.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these
financial statements are rounded to the nearest £.
INCOME
Income, including legacies and donations, is recognised in the period in which the charity is entitled to receipt
and the amount can be measured with reasonable certainty.
Income is deferred only when the charity has to
fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended
in a future period.
Income from investments is recognised when the relating investments issue notice of distribution to its investors.
EXPENDITURE
Expenditure is included on an accruals basis. Liabilities are included in the accounts as soon as recognised.
Charitable activities costs include grant funding and support costs which are all allocated to charitable activities
and this is the predominant activity.
Governance
costs comprise the costs of running the charity, including strategic planning for its futur
levelopment, also internal and external audit, and legal advice for the Trustees, and all the costs of complyin!
vith constitutional and statutory requirements, such as the costs of Board and Committee meetings and o
reparing statutory accounts and satisfying public accountability
Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where
the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled.
Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but
not accrued as expenditure.
TANGIBLE FIXED ASSETS
Freehold property is held under the historical cost model and is not depreciated as residual value is not
considered likely to be less than historical cost. The trustees review for impairment annually.
STOCKS
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making
due allowance for obsolete and slow moving items.
TAXATION
The charity is exempt from tax on its charitable activities.
-UND ACCOUNTIN
Inrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustee
INVESTMENTS
vestments quoted on a recognised stock exchange are valued at market value at the year end. Both realise
nd unrealised gains are shown under 'net gains / (losses) on investments' on the face of the SoF
Page 7
continued...

2.
3.
4.
Elgar Family Charitable Trust
Notes to the Financial Statements - continued
for the Year Ended 5th April 2025
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The preparation of these financial statements requires management to make judgements, estimates anc
assumptions that affect the application of account policies and the reported amounts of assets and liabilities
Actual outcomes may differ form these estimates.
The area involving the highest degree of judgement and estimation uncertainty is set out below.
Valuation of stock transferred from freehold property
Juring the year, freehold property was transferred to stock following a change to the intended use of the
roberty. This meant management were required to determine the appropriate carrying value of the property a
a balance sheet date and to assess whether any impairment was required to ensure stock is stated at t
wer of cost and estimated selling price less costs to complete and se
The estimated selling price of the property is subject to significant estimation uncertainty. At the balance sheet
date planning permission for redevelopment has been applied for but not yet granted. As a result the ultimate
selling price will depend on the outcomes of the planning process, market conditions at the time of sale, and the
nature and scale of approved development.
INVESTMENT INCOME
Royalties
Dividends received
Bank interest
2025
9,296
42,494
3,470
55,260
2024
€
4,125
40,770
1,906
46,801
RAISING FUNDS
INVESTMENT MANAGEMENT COSTS
Stockbroker's fees
Administrative expenses
2025
24,279
60
24,339
2024
23,520
60
23,580
Page 8
continued...

5.
7.
8.
Elgar Family Charitable Trust
Notes to the Financial Statements - continued
for the Year Ended 5th April 2025
CHARITABLE ACTIVITIES COSTS
Direct
Costs (see
note 6)
8,123
Grant
funding of
activities
(see note
7)
€
1,000
Charitable activities
DIRECT COSTS OF CHARITABLE ACTIVITIES
Rates and water
Light and heat
Repairs and maintenance
GRANTS PAYABLE
Charitable activities
The total grants paid to institutions during the year was as follows:
The Elgar Festival
Support
costs (see
note 8)
€
3,540
2025
€
2,033
4,128
1,962
8,123
2025
1,000
2025
1,000
Totals
E
12,663
2024
uring the year the charity made a conditional grant offer of £1.2m towards the endowment for The Firs, subjec
• The National Trust taking on operations of the property. Further details are provided in note 1
SUPPORT COSTS
Charitable activities
Support costs, included in the above, are as follows:
Sundries
Legal fees
Independent examiner
2026
Charitable
activities
2,568
3,540
Governance
costs
3,540
2024
Total
activities
9,618
10,594
Page 9
continued...

Elgar Family Charltable Trust
Notes to the Financial Statements - continued
for the Year Ended 5th April 2025
9.
OTHER
Following the 0a1 2 i are agile xed assets to stock (see note 13), an impaiment of stock
10.
TRUSTEES' REMUNERATION AND BENEFITS
St Apie ro no trustees remuneration or other benefits for the year ended 5tnh April 2025 nor for the year ended
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 5th April 2025 (2024: E46)
11.
STAFF COSTS
The charity had no employees during the year ended 5 April 2025 nor during the year ended 5 April 2024.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
INCOME AND ENDOWMENTS FROM
Investment income
46,801
EXPENDITURE ON
Raising funds
Charitable activities
Charitable activities
Total
23,580
20,069
43,649
Net gains on investments
94,033
NET INCOME
97,185
RECONCILIATION OF FUNDS
Total funds brought forward
2,386,131
TOTAL FUNDS CARRIED FORWARD
2,483,316
13.
TANGIBLE FIXED ASSETS
Freehold
property
504,176
(504,176)
COST
At 6th April 2024
Transfer to stock
At 5th April 2025
NET BOOK VALUE
At 5th April 2025
At 5th April 2024
504,176
Page 10
continued...

13.
Elgar Family Charitable Trust
otes to the Financial Statements - continue
or the Year Ended 5th April 20:
TANGIBLE FIXED ASSETS - continued
14.
Shing preyes file lo is of 20, 0o.tock at is carying value and then writen down to is estimated net
FIXED ASSET INVESTMENTS
MARKET VALUE
At 6th April 2024
Additions
Disposals
Revaluations
At 5th April 2025
NET BOOK VALUE
At 5th April 2025
At 5th April 2024
Listed
investments
1,729,938
119,340
(140,940)
(36,769)
1,671,569
1,671,569
1,729,938
15. STOCKS
Stocks
2025
€
200,000
2024
During the year a freehold property was transferred from tangible fixed assets to stock following a change o
ntended use. Further details are provided in note 1:
16.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Prepayments and accrued income
2025
13,337
2024
€
4,621
Page 11
continued...

Elgar Family Charitable Trust
Notes to the Financial Statements - continued
for the Year Ended 5th April 202:
17.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accrued expenses
18.
MOVEMENT IN FUNdS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Incoming
resources
Unrestricted funds
General fund
55,260
TOTAL FUNDS
55,260
Comparatives for movement in funds
Al 6.4.24
2,483,316
2,483,316
Resources
expended
(341,178)
(341,178)
At 6.4.23
Unrestricted funds
General fund
2,386,131
TOTAL FUNDS
2,386,131
Comparative net movement in funds, included in the above are as follows:
Resources
expended
Unrestricted funds
General fund
46,801
(43,649)
TOTAL FUNDS
46,801
(43,649)
Page 12
2025
€
1,006
Net
movement
in funds
(322,687)
(322,687)
Gains and
losses
(36,769)
(36,769)
Net
movement
in funds
97,185
97,185
Gains and
losses
94,033
94,033
4,053
At
5.4.25
2,160,629
2,160,629
Movement
in funds
€
(322,687)
(322,687)
At
5.4.24
2,483,316
2,483,316
Movement
in funds
97,185
97,185
continued...

19.
20.
21.
Elgar Family Charitable Trust
otes to the Financial Statements - continue
or the Year Ended 5th April 202
CONTINGENT LIABILITIES
rant payable to the ly tonal Trust. However, his 18 contingeri on the National trust formaly dire out bake
on The Firs operations in perpetuity, which has not yet been confirmec
RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5th April 2025 nor for the year ended 5th April 2024.
POST BALANCE SHEET EVENTS
sie th single rendential proper yave applied for planning permission to demolish the property held and replace
Page 13