Chaiity number. 1153470 THE BEAVERBROOK FOUNDATION UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2026 THE BEAVERBROOK FOUNDATION CONTENTS Reference and Administr•tlv• 0￿•11• of th• C￿rIty. Its Tru•teM arml Ad¥ig•rn Truste8s' Report Inde￿ndent Exarnlngrfs R•port Statem•rt of Flnanclal Actlvhl•8 Balanc• Sheot Notss to Ihe Flnanclal Statements 9-19 THE BEAVERBROOK FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, IT8 TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025 Trustees Lord Beaverb￿, Chaifflwn Lady Beavetbrwk The Hon Mr M Aitken The Hon Mrs L Lavi MrJEAKidd The Hon Mr A R Aitken The Hon Ms C Abtken Charlty reglst•r•d number 1153470 Prfnclpal offl¢• 19 Crcf•vn Pa88>¥ London SW1Y 6PP Chlof oxKutlv• Miss J S Ford untsnts MHA Chartered AC￿untants 2 London Wall Placa London EC2Y Bank•rn C HoHfe & Co London EC4R 4rr Sollcltor• F￿k￿￿5h8r Riverbank Hou80 2 Swan Lane Lond EC4R 3 InvKtm•nt Manao•v• C4z•nov• Capital 1 London W•ll Pb•c• London EC2Y S4U Pagè 1 THE BEAVERBROOK FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENOED 31 DECEMBER 2025 The Trustees present their annual report tofftrwith tho financial sLitements oftho Charity for the year ended 31 December 2025. The financial sLitement$ have been piepaffjd in accordance with the provisions of the Stslem8nt of Recommen¢Jed Practice ISORPI 'AccounbrKJ and Reports"ng by Chanii8s' 2019, and apPlub￿ UK Accounting Stsndards and the Charrtjes Acl of 2011. Objfjctfvos and actlvllles a. Maln actIvIti￿ undertaken to further th• Charity'• purp¢>sos for th• publlc ts￿￿5¢ We have referred to the guidance contained in the Chanty c￿nmissIon,S ger* guKlance whgn reviowng our aims and objectives antl in pknning our thJture activities. In particular the Trustees eAMsthr how planned activitios will contribute lo the aims and objecb.ves they have set. The Foundat*)n supports a variety of causes in the UK including supportin9 chanta•le appeals and preseMn9 heritage prcpÈrt￿. The FOundat￿n has also been entrusted wrth various collect￿nS of pJrtKal Cart￿￿$. poIri￿1 papers and artefacts. The Tru8tees are reviewing what action lo lake lo promote the coItht￿n5 for the benefii of the publ￿. A¢hlov•rn•nts and p•rfornianco a. Granl maklng Tho FourKlalion'8 key Objecti￿ 18 the di8tributw)n of donatKYkS lo (ther rtyi8tered chariti88. Grants are made at the discretion of the Trustees for charitsble purpow in¢ludirvJ those that W￿k1 have refiected th• interests of the first Lord Beaverbrc#Jk. induding.. Royal Air F￿ce relatwj Chants￿. th8 pur&b888 of books, papor8. manuscripts or works of art. care of the W or Infirm. b. Hlstorlc documents. cartoons and •rt•f•¢ts The Foundation has enlrustsd ￿th the ¢aTe of politKal Pape￿ of enomcws hislorKal iMp￿￿nCe. Lord Beaverbrook's role al the heart of 20th Century poliiics means his ¢)wn personal papers have groat $Ignffj￿nce. As well as these, the Foundation owns the papers of tsvo BIrt￿h Prime Ministers. LI0￿j George and Bonar Law. The papers are avaijable al the National Archive at Kew in London. The Trustees do not consider rt wssible to pla¢9 a value on these papers and therefore no amount ts inc4uded in hentage assets on the balanee sheet In this regard. The Foundation cpwns a colleCt￿n of 8,OXJ historic cart¢b￿S by Lo*, Cummings, Vicky and Strubè. This Ileclion 1$ widgty regarded 88 one of the most imp￿￿nt collectp)ns of 20th Century British polrtical cartoons. The Trustees have placed the ￿lleCtI)n on loan at the Templeton kn"brary at the UnNersty of Kerrt at Canlerbury. The c¥)I*tK)n is èa5ity ardilable for reseafchers and gfj￿ral Publ￿ through the Brilish Cartcon Archive website. Other arfv￿rks and items are on loan for public V*•¥ at Beavert)￿ Hotd in Surrey, The RAF Club and the RAF Museum at Hendon, Lond¢)n. . Inv•stment pollcy and performan The TTustee8 adopt a eautiou$ policy in reSp￿t of in7¥eStn￿￿ and Ihis has been continued as a resum of the volatility of wodd stock exchanges. P&¥2 THE BEAVERBROOK FOUNDAnON TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Financial roview a. Going concem After making apprcpnate enquirw, the Trustees have a reason￿le expectation that the Charity has adequate resources to ￿ntinUe in operational existence for the foreseeable future. F¢K thrd they continue to adopt the going concem basis in preparing the financial statements. b. Actlvty In the yoar The investment income was the main Source of irw>Jffe. l¢*alling £118.169 {2024.. £99.8271. The Trusttts are satisfied wtth the actNity in the year. Tho chanty retains conside￿￿ reseN￿. 1gTg8ty repre8entsd by Invesknenl assets. Structure• governance and m•n•gemènt . Constltutlon Tho 8eaverbrook Foundation k8 a registernd charity. number 1153470. oThJ ¢ constituted as a ch￿blO In￿rporated Organisatthi. b. M•thods of •ppolnlm•nt or electlon ol Trust••s The managgment of the Charity i8 the responsibilty of the Trustoos arn 018(*￿ arKI ctropted under tho lenns of constr(ution. c. Flnan¢hl rlsk m•nag•mort The Trustees have assessed major risks lo wh￿h the Charty is exposed, in parttular Ihose reLgted to th• operations and finances of the Chanty. and are sats"$f￿ that $￿emS oTr1 preLedures ar8 in plxe to mitigala exposure lo the major risks. The key rtsk reLgtes to invèstrnenl management which is dèalt with in other 8ection$ of this report. d. Trust•e8' rnmun•rntion and •xpense• The Truste8$ apprrnd the paynent of eX[￿Se5 during the Jear to Chw'nnan of TA￿tee$. and tsyo crther Trustees. No remuneration was paKI to Trustees dunTr3 the financial year. Plans for futurn p•rlod¥ The Boaverbrook Foundation ¢ontinues ts xtiwl*8 as a 9Mt m*ing organksation arKI Ic¢4($ lo devebp its archive. Page 3 THE BEAVERBROOK FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 ststement of Trustees. responsibilities The TNstees are responsible for preparing the Trustees, Report and the finanaal stalomenls in accordance wrth applicable Lffiv and Unitgj Kingd¢yn Stsndards {United Ksrwom Generally Accepted Accounting Pr&ticel. The law aFPlUb￿ to charities in ErwJLgfKI & Wales requires the Truslees lo prnpare financial statements for each financial which gNe a true and fair VV4V of the slate of affairs of the Chanty and of its incoming resourc88 and application of resources. includiThJ rts irwne and expendrturn. for that perKxI. In preparing these finanual statements, the Trustee¥ are reqLbired to.. select 8Urtable &counling potKig8 aTrJ thgn appty them ￿l$l$len￿Y. ob8eNe the methods and prir￿1ple¥ of the Charitw SORP {FRS 102): make judgments and accounting estimates th* arn reasonab￿ and pnjdent., slate whether applUb￿ UK Accounting Standor(Is IFRS 1021 have been fdkyA*d. Subject to any material departures disclosed arKI explained in Ihe financ￿1 $t*ements", prepare the financial statements on t￿ goirvJ concem basis unless it Is inappwialo to presume that the Charty will continue in busin8s3. The Trustees are responsible for keeping adequate 8¢(Y)unting re¢ord$ that are suffKK?nt to show and explain the Chafty's transactions and disclose wrth reasonable accuracy at any lime the financ￿1 positi.on of the Charity and enable them lo ensure that the fina￿181 slalemenls compty wrth the Chariti'&s Act 2011, Ihe Chanty IA¢counls and Reports) RegulatKJns 2008 and the provL8ion$ of the Trust deed. They a￿ aL80 responsibk for safeguarding the assets of the Charty and hence frK tsking reas(fflab￿ steps for t￿ prnvention and detection of froud and other ifregulart*& Dl8closur• of Inforniatlon to •udltor Eath ofthe pernons who are Trustees at tl* lirr* when this TnJstees' Report 18 approved ha8 Confl￿ that. so lar as that Trustee is ?￿re. thore is rw) reknvant audit InfOrn￿ of whth tho chantys audrtor i8 unaware, and Ihat Trustee has taken all the steps that ought lo have been taken as a Trustee in order to be aware of ar relevant audit inlomiatth and to establish that the charws auditor is tware of that informatiw. Approved by order ofthe members of the board of Trustees and svjned on th￿r behall ty. Lord erbrook Chair of Trustees Tntstee Dale.. Page 4 THE BEAVERBROOK FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 Independent Examlnerfs Report to the Trustees of rhe Beav•rbrook FOU￿0￿ (The Charlty.) I reFQrt lo the ch*lty Trustees on my exarninat￿n of the accounts of the Chaty fof the yèar erKled 31 December 2025. Responslbllttle8 and Bftsls of Rèport As the Trustees of the Chaiity are reSpOn￿bkn f¢Y Ihe preparatN￿ of the ac£ounts in ￿e0rdance wilh the requirements of the Charities Act 2011 Ilhè 2011 ACYI. I report in respect ol my exaMirWt￿n of the Chartys xcounts ¢xrt und8r section 145 of the 2011 Act and in carying out my examination I have folkh¥ed the applicable DirectM)ns grven by the Charity Commission under sKtion 14515)Ibl of the 2011 Act. Ind•p•nd•nt Examln•rfs Stat•m•nt Your attention is drawn to the fact that the Chanty has prepar•J tho accounts wi ￿C￿danCe Acctyjnling and Reporting by Charities.. Statement of Recommended Pract￿8 0pph.cab￿ lo chantw preparing their accounts in accordance wrth thg Financial Reporting Standard appI￿ab￿ in UK and Republic of Irdand IFRS 1021 in prefgfence lo lh8 Accounting and ReFX)rting by Chanb'es." Statement of Recommondod PraclKe I￿u•d 1 April 2005 which is referyed to in the extant reguL3t￿5 but has wrthdr￿. l understand that IhN8 has been donè in order for the accounts to prow¢Je a In￿ and fair in Wirdance wrth the Gengralty Accepted Accountsng Prxlic* effth for repth.ng per*xl$ beginning on or after 1 January 2015 I have completed my examinatff)n. I confimi that no maiters ha%¢ como to my attentiC￿ in c£fflr*ectKJn with th• examination giving me cause lo bel￿e that In any matenal respect.. accounting record8 were Ml kept in respect of tho C}￿lIty as rwuired ty 8•Xion 130 01 th8 2011 Art. lx the accounts do Tr)t aco)rd with those r￿ords,. or the accounts do not ¢omply with th8 appI￿ab￿ requirements ca)nc*mM)g thé form ar￿ conlenl crf accounts set out in the Charities (Accounts and Rewrtsl Regul8tMMS 2008 other than any requirement that the accourts gNe a and fairf view wh￿h 18 ncA a matter con%derwl as part of ￿ independent examination. I have no concems and have come across no ¢Xher matters in ￿nneth0ft with the eXam1rwt￿n to which attention should be dwn in th￿ reFrfx1 in crtder to enab￿ a proper undorslanding d the 8*¢ounts to be reached. Pagé 5 THE BEAVER8R￿K FOUNDATION INDEPENDENT EXAMINER'S REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 This report is made to the Chartys Trustees. ag a body. in accordanca ¥￿th Part 4 of the Chgrities (Aecounts and Reportsl Regukb'ons 2C¥J8. My work has been undertaken so that I m￿ttt sL*e to th6 Charivs Trustees those matters l am required to state to them in an Independent Examinerfs Report and for no other purpose. To the fullest extent pemirtted by I￿, I do not accept or assume reSponsib￿ty lo anycTh other than the Charty and the Charitys Trustees as a bc*ty. for my work or for this rewt. Signed.. Rakesh Shaunak FCA MHA Chartered Accountant 2 London Wall PlaGe London EC2Y &AU Page 8 TrIE BEAVERBROOK FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025 Total funds 2026 fundx 2025 nits 2024 InGomg from: Investments 118.169 118.169 99.827 Tol•l Incomo 118.169 118,169 99.827 Exp8ndSturn on: Invoslmenl management fe Ch•ritable 8¢tivrt Other expenditu 66.177 65.177 384.062 76,577 4&7,582 Total •xp•ndltur• 493,503 493.503 570, 763 Ngt expgndlturn b•lor• n•t qaln• on InvMtm•nts Net gains on invgslm8nts 1375,334) 748.783 1375.3341 748.783 (470,936) 746,908 10 N•t movement In fund• 373,449 373.449 275,972 ftKonclll•tlon ol lund•: Total funds brc¥Jght forward Not movement in fund8 11898.097 373.449 12,898.097 373A49 12.622, 125 275,972 Total funds carrled foM•rd 13,271,518 13.271,546 12.89a097 The Statement of F￿ancial ActiVIti￿ inclLths all gains and Io#w Twnised in the yojr. The note8 on pape8 9 to 19 frym part 01th￿e fin8noal 8tatemants. Pag8 7 THE BEAVERBROOK FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2025 2024 Flxed assets TangibLg asset8 Inveslments 11 12 4.184.498 9,028,366 4.230,670 8,602,693 11212.862 12,833.363 Curr•nt assets Debtor8 C8sh at bank and in hgfKI 13 41,370 27,744 39,9C 30,390 69,114 70,2 Curr•nt Ilabllltl•s Creditors.. amounts falling due wiihin c year 14 110.4301 (&556) Net current as••ts 61, 734 Total n•t 4M•ts 13,271,546 t2.898,£￿7 Charlty fund• Restricted funds Unre3tricte(I funds 15 Ggneral fund8 15 13,271,546 12,89QQ)T Total unre8tricithY fvnd8 15 13.271.fA6 12,898.097 Totsl luTrd• 13.271,548 12.898,097 The financial Is worn approved aThd author￿ fr* i88ue by the Trusté￿ arKI Jyned on ththr beh•ff by.. Lord 8•av• Chair of Trustees k. Ch•lrnian Tru8tee 22 Z4YL The notes on p•39s 9 10 19 fomi part of these financial statements. Pwe8 THE BEAVERBROOK FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 G•n•rnl Inf0m￿tIO The Beaverbrwk FOundat￿n is a Charitsble Incorwrated organisatic￿ ICIOI. r8gistorgd in England ar Wales. Its princpal ¢)ffice is 19 Cr￿n Passage, London, SW1Y 6PP. The Found*w's fU￿nal currency is pounds stsding aKI thè fina￿181 State￿￿Trts are ￿Unded to the nearest È. A¢¢ountlng pollGI 2.1 8asS8 of pr•paratlon of flnanclal 8tatam•nts The fin8nei* statements have b99n prepa￿ in a¢￿dan￿ th8 Chariti88 SORP {FRS 102} - Accounting and Reporting by Charrtw.. StstpJnent of Reccxnmended Pr&tice applKable to charrti85 preparing their accounts in vthh the Financtal Rep)rtÈng Standard appluble in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. the Finanoal Repth"ng Standard applicable in tho UK and RepU￿4C of IreLgnd (FRS 1021 and the Chariii88 Acl 2011. The financkql statements have been prepared to gN• a 'lrue and fairf vivw and have departed frc the Charrties (Accounts and Rwrtsl ReguL4tions 2CQ8 onty lo extent required to provide a Irue and fairf view. This departure has invowl folkwing tt* charrt￿ SORP IFRS 1021 published in October 2019 rather than the AccountirwJ and Rep)rb'ng by Charities.. Statamont of Recommended Practice effective from 1 Aw'l 2005 which has since been withdr•MI. The Bfjaverbr￿k Foundation meets the definitK>n ol a public benèfft entity yndor FRS 102. Assets and liabilrt￿s are inf(o1ty rKognised at historical Cost or transacthM valug unless othernise ststed in the rdevant acuuntry pcAicy. 2.2 In¢¢)mg All income is rwnised an￿ tho Chanty has entrtlern￿1 to thg income. il 16 prctsbba Ihat tha incomè will be r¢cei4¢d arvj the of incm rnCeiVab￿ eAn bè mwur•J reliabty. Income la¥ recoverab￿ in r￿81￿ to #West￿nt ir*eomÈ i* rwAyJnis*l 8t th• timo th• inve•tm•nt income is receivabb. 2.3 Exp•ndltur• EXp￿￿rturO 1$ recognised once there ts a legal or Constr￿t￿e ob1w.￿ to Iransfer eCo￿)mi¢ tfjnefft lo a third paty, it is probable that a transfer of Koncrfnic twefits wll be required in settlemenl and the amount of the oblwJatM)n can be measured reliabty. Expendrture 1$ classified by tmty. The costs of actNrty are made up of the tctsl crf direct costs and shared costs, including SUPF4)rt costs invofved in undertaking actmty. Direct ensts attribLrt￿le lo a sing actmty are all¢Jcated diTe¢tty lo that Shared costs whth contnbute lo more than one activrty and support costs are not attn.b1Jtab￿ lo a Single ath.vity are apportioned befvfftn those &tiwties ￿ a basis consistent with the use of resour￿. Central staff costs are altsaled on the basis oftime spenL and deprnciation charyes on the irfthe asset's use. Expendrture on raising furKls indudes exFendrture incurred by the Charity to rahse lunds for its charitable purposes and ir￿lUdeS costs of all fundraiwng thrties events and rK>n-charrtable trading. Expendrture on Charilabk acIMt￿ is incuffed on directly undertakiThJ the activibes whth further the Charty's obl￿tiVeS. as well as any asswated SUFWt costs. Page 9 THE BEAVERBROOK FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policies Icontinuedl 2.3 Exp•ndltur• (contInu￿) Grants payablg are charged in th8 J*ar wthen thg offer is rn￿8 except in th¢)se cases where the offer is conditional. such grants being recognis&J as expenditure when the condrtions attaching are fvirilled. Grants offered subject lo condrtions whKh have not been met at the end are noted as a c(xnmitmenl, but nc4 aceft￿d as expendrture. l expe￿I￿Ure is indusive of iffttover*b VAT. 2A Intsrest rncfjivab Interest on funds hekl on deposit is includ&J when reeeNable and the wnount can be measurod reliabty by the Charity, this is nornalty upM notffjcation ol the Intere￿ paKI or payable by tho inJtitutM)n with whom the funds ar8 dep)sit•J. 2.8 T•nglbl• flxod •ssats and d•pr•cl•llon Tangible fixed 8888t8 are initialty reLwnised * cost. After TKognit*Jn. urthr the cost mL¥Jel, tangible fixed assets are measured at ￿$t less accumulated depreuatKJn and any accumulated impairment losses. All costs i￿Ur1ed lo bnng a ￿ng￿le fixed asset into its intended wotking ¢ondith?n should t* included in the of cost. Depreciation i• charged 80 as to alkcate th• c¢Jst of t8r¥Jb￿ fixed a880ts 1888 thèir rgs#Jual val over their estimated u8eful INe8, on the I￿k￿M"n9 baw. Depreaalion is provided on th8 folkxirs ba6i8.' Freehokt woperty Office equipment 2% straight line 25% reducing balanGe 2.8 Inv•stments F4x¥d aswt In¥p5tn￿nts a￿ ¥ Ivmi of ftnanuai Instrumem ano are In￿lty reo>anw at moir transaction cost and subsequenlty Measu￿ at fair value at the Baknce Sheet dale. unless the value cannot be measurgd reli* in which ease rt is measure(l at cost Sess impai￿￿lrt. Investment gains and losses, whethet realised or unrealtsed, are c(xrt*ined and p￿sented as 'GaIn￿(Lo$se$l on inveslmfjnts, in the Statement CA Finanoal Actrvrti85. 2.7 Dèbtors Trade and crthef debtors are recognised at the settlement ￿￿nI. Prepayments are ￿Ued at the nounl prepaid. 2.8 Cash at bank and in hand Cash al bank and in har¥J indudes cash arKI $hort4emi h￿hty liqu•J investments with a Short maturty of three morrths or less frrtised CCAI usng th8 affe¢tNo intergst ft￿. 2.11 P•Mlons The Charity operates a defined r￿ntnbU1￿ln ponsion Sch￿ and t1￿ charg8 repre8ents th• omounls payable by the Ch*ty to tha fund in re8F*(* oftho Yaw. 2.12 Fund accounllng General funds are unreslri¢tsd fvnds which are awlable for u8e at ￿ di8cretMM of the Trustees in furtheran￿ of the goneral oty'ectwes of the Charity and whrth havo ncrt boon designated for ottr￿r purposes, Inve*mom Incorm, galn8 ana M)8888 ar• oihxaioa to Ir* appropr￿ lurKI. Inv￿lmOnt Income Unr•strlcted fund8 2025 Total funds 2025 Rentsl income DNidend$ receivable Interest receNable 17,342 91,475 9.352 17.342 91,475 9,352 118,169 118.169 Pagg 11 THE BEAVER8ROOK FOUNDAnoN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Investment in¢om¢ l¢ontinu¢dl Total funds 2024 fvnds 2024 Rental income DNidends re￿Nable Interest receiv&le 22,996 66,053 10,778 22.996 66,053 10, TT8 99,827 99,827 Expend5ture on charltable actlvltss Total funds 2025 nd$ 2025 Grants paYa￿e Support costs Staff costs 268,934 99.362 95.766 268,934 99,362 95.766 464,C62 464,082 Tolk)I funds 2024 funds 2024 Grants pardble Support costs Staff costs 181. 1 179,114 181. 1 179,714 4&).582 450,582 P4è 12 THE BEAVERBROOK FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 ATr•1￿1$ of gr•nts Grnnts to Inlthutlons 2025 Totsl funds 2025 Grant8 payable 188,934 188,934 Gr8nts lo InsfrtutKMs 2024 To181 lunds 2024 Grants p8y* 181, IC 181. I￿> The Charity has mado tho fdlwng m&terial grants to irffjtitulK￿8 during th8 yèar. 2026 2024 Nam• of Insthutlon London S¢ro¢n Academy Royal Airforce Museum BASMO Medical ActKJn 14tyanmor Universty of Kent Bristol Music Trust National Motor Muaeum Oakhaven Hospice Trust London AmbU￿nCe RAF Club TimeGiver8 Royal Ballet School One Small Thing Shakg F￿liv91 HO￿ for TonK)r 15.000 I8,IXK) 15.t) io,c io,ofy) 15.000 10,000 15,LXXI 10.cD) 18,460 25,(Xil 10, 11,LW 10,(rfX) 21I00 120,950 07,984 124,X Other grnnts1£5.CrtXJ and under. rew¢sonting 60 instiluii￿} 188.934 181, IC Pa9e 13 THE BEAVER8ROOK FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Support costs Total funds 2026 funds 2025 Archiving costs Legal costs AwQunta￿Y Premises and office costs Insurance Trustees, expenses Bank charges 23.769 1,654 23.769 ,333 66.333 8.887 6,499 99,362 Unrnsln¢ted lunds 2024 Tolal funds 2024 Archiving ¢))sts Legal costs Audit and xcounlancy Premise$ and office costs Insurance Trustee$. oyns65 Mortoage inter88t Bank charges 28.141 28,141 4.887 86,935 4,887 86,935 5.836 6, T60 45.2 6, 760 45? 455 779.114 179,114 IndO￿ndont oxamlnerfs remunwatlon 2025 2024 Fees payable to the Charws I￿nI examiner frA the indwn(l•rt examinalK)n of the Chanvs annual accoLsnts 3. 7LiI Paye 14 THE BEAVERBROOK FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Staff costs 2025 2024 Wages and salaries Social ￿￿Tty costs Contribution lo defined contribution pen￿n sth8rT PrNate heatth I￿￿ranCe 76,558 10.922 73,969 9,449 3.9 95.766 sYt,368 The avefage number of pef8ons empw by Charity duriTrJ the year was as follcM8'. 2025 No. 2024 No. Emplo￿￿8 The number of 8mpbJffjes Wh￿ empbypg beneffts lexclthdir¥J emthy p￿s1on ¢oslsl excegded £60,000 was.. 202S No. In the band £70.001- £80,000 Py15 THE BEAVERBROOK FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2025 Trustees. rgmuneration and expenses During the year. no TTusteÈs rec£ived any ranuneratmin CK ￿nefitS f2024- £NIL) During the year ended 31 DeC￿￿T 2025, expenses totalling £4,209 ￿1Mbu[sed or paid dir&tty lo 2 Trustees (2024- £5,615 to 3 Tntstees). 10. Net gains on investments 2025 2ff24 Gain on revalu8tron of in*stments ILoss}Igain on disposal of investments 915,480 1166,6971 641,853 105,Q55 748,783 746,>J8 11. Tangibla fixod a￿ts Heritag• Freehold orri property equlpment Total Cost or valuation At 1 January 2025 DisF4)sals 1250.609 115&319 {1.910) 20.789 4A26,717 {1.910) At 31 C*caxber 2025 1248.699 2.155.319 20.789 4,424,807 D?pr￿latIon Al 1 January 2025 Charge for the year 179,891 43.106 16.156 196,047 Al 31 Dee8mber 2025 2a997 17,314 240.311 Net book value Al 31 December 21r25 2248.699 1.932.322 3.475 4,184.4 At 31 Dec8mber2024 2,250,609 1.975,428 4,633 4,230,670 Page 16 THE BEAVERBROOK FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2025 12. Flx•d a•••t Inv•*tm•nts InvMlm•nt• Cast or valuatlon Al 1 January 2025 Disposal$ Rovaluations 8,601693 (489,807) 916,480 At 31 Dec4mber 2025 9.028,386 Net book value Al 31 D￿mber 2025 9,028,366 At 31 December2024 4&)2,693 Fixed asset inveslmenl$ at Ihe balance sheet dale are m•Je up of lffjted investments of £8.760,917 {2024 - £8,550,304) and £267.44912024 - £52,389) of ca8h held in the inMÈstment portfolKJ 13. Debtor8 2026 2ff24 Due after moro than on• y•ar Other debtors Duo wlthln on• y•ai Trade debtors Pr•paymwts and accwed inccthe 36,LlXI 1h70 41.370 P8ge 17 THE BEAVERBROOK FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 14. Creditors: Amounts falling due within one yaar 202S 2024 Other t8￿￿10n and scdal security Other Credrtors Ac￿￿lS and defeffgJ incw*e 2.895 3.935 1,956 10,430 5.556 15. Ststsmgnt of funds Statement offvnds - current year Balance at 31 Gainsl D8cember (Losses) 2025 Balance at 1 January 2025 Income Expendlture Unrestrithd funds Ganeral Funds- all funds 12.898.097 118,169 1493,5031 748.783 13.271.546 Statement of funds- prlor year 8818￿e 8t 37 Gal￿ Doeembgr lrnx¥n8 EX￿￿sitti￿ (Losses) 2024 8818IK* 81 l January 2024 Unrfjstrlctod funds General Funds- all fuThJs 12.672, 125 99.&27 (570.763) 746,908 12.898,097 Pag818 THE BEAVERBROOK FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 16. Analysls of net a880ts belween fundg Analysls of n•t assots betw¢•n funds - ¢Ufrnnt y•ar Total funds 2025 funds 2025 Tangible fixed assets Fixed asset investments Debtors due after more than one Current assets Creditor8 due within i)ne 4.184,496 9.028.366 4.184.496 9,028.366 33,114 (10.430) 33.114 110A301 Totsl 13,271,546 13,271.546 An•ty¥l¥ of n•t •u•ts l)ot4hwn fund•- prlor y￿r Tolal fijnds 2024 funds 2024 Tangible fixed a88ets Fixed a888t investff*nts Debtors due after than om ywr Current assets Credrtors dua within ¢)ne year 4.230.670 4,230,670 8.602,693 8,CQ2,693 36.C 34,290 (&556) 34,290 (5,556) Total 12,898,097 12,898,097 17. Ponslon cornmltmonts The eharty ¢yrates a defined conlributron pension scheme. The assets of the scheme are hek1 separately fr¢)m those of the group in an indeperKlenlty ￿MInIStered fvnd. The pensh?n eosl chargg repiesents contributK)ns payable by the charity to the lund arKI amounlgd to £3,99412024 - £3.0001 and no amounts were parab￿ lo the fund at the balance sheet date12024 - £nil). 18. Related party transactlons The Charity has ncl entsted into related paty tran$￿tIOn during the year. are there any oulstarKling balarKes ty¥ing bel*een related part￿5 and the Charity at 31 t)ecerrt>er 2025. PaJe 19