## **WARNER PRIORY CHARITABLE TRUST**
Trustees' Annual Report and Financial Statements Year Ended 30 September 2025 Registered Charity No. 1159667
## **Warner Priory Charitable Trust**
## **Trustees' Annual Report and Financial Statements for the year ended 30 September 2025**
## **Contents**
||**Page**|
|---|---|
|Report of the Trustees|1 - 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Statement of Assets and Liabilities|6|
|Notes to the Financial Statements|7 - 9|
## **Warner Priory Charitable Trust**
## **Report of the Trustees for the year ended 30 September 2025**
The Trustees present their annual report along with the financial statements of the Charity for the year ended 30 September 2025. The financial statements have been prepared in accordance with the accounting policies set out on page 7 on a receipts and payments basis and comply with the Charity's Trust Deed, the Charities Statement of Recommended Practice, and the Charities Act 2011.
## **Reference and Administration Details**
|Trustees|Alan Tristram Nicholas Warner (life)|
|---|---|
||Susan Voase Warner (life)|
||Aimee Fiona Ann Warner|
||Nicholas Redston Warner|
|Registered Charity Number|1159667|
|Registered Address|Charles Russell Speechlys LLP|
||5, Fleet Place|
||London|
||EC4M 7RD|
|Solicitors|Charles Russell Speechlys LLP|
||5, Fleet Place|
||London|
||EC4M 7RD|
|Independent Examiner|Zeeshan Munawar|
||ACCA|
||UK Accountancy & Tax Consultant|
||LHR, PAK|
## **Structure, Governance and Management**
## **Governing Document**
A deed dated 7 October 2014 established the Trust and appointed the First Trustees. Alan and Susan are Trustees for life and Nicholas was appointed for an initial period of five years.
## **Appointment of Trustees**
New Trustees are appointed in writing by the Settlor and subject thereto by:
- a resolution of the Trustees passed at a special meeting.
- by deed.
Any future trustee appointed shall be appointed for a term of five years and is eligible to be reappointed to act as a Trustee. During the Trustee meeting of 17 November 2025, the Trustees resolved to appoint Aimee Warner as a Trustee of the Trust for a period of five years.
## **Trustee induction and training**
It is the responsibility of the Senior Trustee to induct any new trustees and explain his/her responsibilities and duties whilst providing copies of the trust instrument, past accounts and guidance booklets provided by the Charity Commission. No special skills are required as the Charity does not provide a service.
1
## **Warner Priory Charitable Trust**
**Report of the Trustees for the year ended 30 September 2025 (continued)**
## **Objectives and Activities**
The Trust was established by a deed dated 7 October 2014 with general charitable objects and purposes. The Trustees meet three times a year on a four-monthly basis.
## **Achievements and Performance**
The Trust received a gift of cash from Alan Warner during 2014/15 on its creation. A leasehold property was also transferred: 159 Priory Road, London N8 8NB. On 1 April 2016, a further leasehold property was added: 175 Priory Road, London N8 8NB. During the year, the Trust received rental income from both properties.
The plan is to distribute cash reserves for charitable purposes (after expenses) which will be shown in subsequent accounts. The Trustees consider supporting charities in accordance with their charitable objectives of education, conservation, arts and general charitable purposes. The Trustees will not consider unsolicited requests for funding.
## **Financial Review**
Income of £77,730 was received in the year (2024: £70,975). Total expenditure was £70,594 (2024: £73,228) comprising donations of £44,770 (2024: £47,135) and support costs of £25,824 (2024: £26,093). Included within the 2024 expenditure was £8,684 of repair works at 159 Priory Road and £2,143 of plumbing works at 175 Priory Road (2024: fire alarm and emergency lighting work at 159 Priory Road of £3,848 and minor works at 175 Priory Road of £4,008).
## **Reserves and Going Concern Policy**
The Trustees ensure that they have sufficient reserves to meet their expenses on a rolling six month basis and this is reviewed as needed. The Trustees are satisfied there will be no long-term impact on the going concern status of the Charity.
## **Risk Management**
The major risks to which the Charity is exposed, as identified by the Trustees, have been reviewed and systems and procedures have been established to manage those risks. In particular, the Trustees do not enter into commitments in excess of their available cash resources and as a result they operate in a very low risk environment. Any drop in rental income received will be matched by an appropriate reduction in expenditure.
## **Public Benefit Statement**
The Trustees confirm that they have had due regard to the Charity Commission's guidance on public benefit in deciding what activities the Trust should undertake in furtherance of the charitable objects of the Trust.
## **Fund Raising Policy**
The Charity's income is generated from rental income. It does not undertake fundraising activities, however, it is nevertheless mindful of the code issued by the fundraising regulator.
2
## **Warner Priory Charitable Trust**
## **Report of the Trustees for the year ended 30 September 2025 (continued)**
## **Statement of Trustee Responsibilities**
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 & 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 period. In preparing these financial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities SORP (FRS 102);
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper 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 Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity.
## **Signed on behalf of the Board of Trustees:**
**Nicholas Redston Warner** Trustee
3
## **Warner Priory Charitable Trust**
## **Independent Examiner's Report**
## **for the year ended 30 September 2025**
I report to the Trustees on my examination of the accounts of the Warner Priory Charitable Trust (the Trust) for the year ended 30 September 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").
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent Examiner's Statement**
I 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. The accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records.
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.
Zeeshan Munawar ACCA LHR, PAK
## **20-Jul-26**
Date:
4
## **Warner Priory Charitable Trust**
## **Statement of Financial Activities for the year ended 30 September 2025**
**----- Start of picture text -----**
Unrestricted Endowment Total Total
Fund Fund Fund Fund
2025 2024
Notes £ £ £ £
Income
Income 3 77,730 - 77,730 70,975
Total Income 77,730 - 77,730 70,975
Expenditure on
Charitable Activities
Donations 4 44,770 - 44,770 47,135
Support Costs 5 25,826 - 25,826 26,093
-
Total Expenditure 70,596 70,596 73,228
-
Net income/expenditure 7,134 7,134 (2,252)
Unrealised gains/(losses) on
-
revaluation of leasehold properties (2,000) (2,000) 18,000
Net Movement in Funds 7,134 (2,000) 5,134 15,748
Reconciliation of Funds
Funds brought forward 26,271 497,000 523,271 507,523
Total Funds at 30 September 2025 8 33,405 495,000 528,405 523,271
**----- End of picture text -----**
5
## **Warner Priory Charitable Trust**
**Statement of Assets and Liabilities**
**for the year ended 30 September 2025**
|Notes
**Fixed Assets**
Leasehold Properties
2
**Current Assets**
Cash at bank
7
**Total current assets**
**Net assets**
**Funds of the Charity**
Unrestricted Fund
8
Endowment Fund
8
**Total Funds**
Approved by the Board of Trustees and signed on their behalf by:
**Nicholas Redston Warner**
**Date:**
Trustee|**2025**
**£**
**495,000**
**495,000**
**33,405**
**33,405**
**528,405**
**33,405**
**495,000**
**528,405**
**20-Jul-26**
`|2024
£
497,000
497,000
26,271
26,271
523,271
26,271
497,000
523,271|
|---|---|---|
The notes on pages 7 to 9 form part of these financial statements.
6
## **Warner Priory Charitable Trust**
## **Notes to the Financial Statements**
**for the year ended 30 September 2025**
## **1. Accounting Policies**
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the Trust's financial statements.
## **General**
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 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **Incoming Resources**
All incoming resources are accounted for on a receipts basis.
## **Resources Expended**
All expenditure and liabilities are accounted for on a payments basis and have been classified under headings that aggregate all costs to the category. All expenses are deducted from the Unrestricted Fund (unless they relate specifically to the restricted funds). All payments are now charitable expenditure (support costs), and there are no governance costs.
## **Donations**
Donations are recognised on a payments basis.
## **Support costs allocation**
Support costs are those that assist the work of the Charity but do not directly represent charitable activities and include office costs, governance costs and administrative costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to expenditure on charitable activities on a basis consistent with use of the resources.
## **Taxation**
The Charity is exempt from tax on its charitable activities.
## **Fund Accounting**
The Unrestricted Fund is used for holding liquid assets available for distribution. The Endowment Fund holds the Charity's properties.
7
## **Warner Priory Charitable Trust**
## **Notes to the Financial Statements**
**for the year ended 30 September 2025**
## **2. Leasehold Properties (Endowment Fund)**
|Value brought forward as at 30 September 2024
Revaluation
Value carried forward as at 30 September 2025|**2025**
**£**
**497,000**
**(2,000)**
**495,000**|2024
£
479,000
18,000
497,000|
|---|---|---|
The properties comprise shops and flats from which rental income is received.
The value of the leasehold properties is determined using marketing appraisals, as at the balance sheet date, prepared by a RICS (Royal Institution of Chartered Surveyors) chartered surveyor.
## **3. Income**
|Rental income and rechargeable costs
Bank interest|**2025**
**£**
**77,623**
**108**
**77,730**|2024
£
70,951
24
70,975|
|---|---|---|
## **4. Charitable Donations**
|Charitable Donations to institutions
National Trust of Scotland
Speakers Trust
Rugby School
Other Donations
48 donations were paid during
the year (2024: 34 donations)|**2025**
**£**
**7,500**
**5,000**
**5,000**
**27,270**
**44,770**|2024
£
7,500
9,250
2,500
27,885
47,135|
|---|---|---|
The Charity reviews funding requests annually and may provide multi-year support to certain institutions at the Trustees' discretion. No formal commitments to provide funding after the balance sheet date have been made by the Trustees. Future donations are conditional upon the Charity generating sufficient net property income after support costs, and are recognized only when paid.
8
## **Warner Priory Charitable Trust**
## **Notes to the Financial Statements for the year ended 30 September 2025**
|**5. Support Costs**
Maunder Taylor - management fees
Property repairs and maintenance
Rent, rates and insurance
Legal and professional fees
Lease renewal fees
CAF bank charges
Total support costs
Total charitable donations and support costs|**2025**
**£**
**3,513**
**11,756**
**3,900**
**2,072**
**4,500**
**85**
**25,826**
**70,596**|2024
**£**
4,786
9,695
3,724
7,828
-
60
26,093
73,228|
|---|---|---|
## **6. Disclosure of trustees remuneration, benefits and expenses**
No Trustee has been paid any remuneration or received any other benefits from an employment with the Charity or a related entity, no Trustee expenses have been incurred nor have there been any related party transactions in the reporting period that require disclosure (2024 - nil in all cases).
## **7. Cash at bank**
|CAF bank
Maunder Taylor rent account
**8. Summary of fund movements**
**Balance**
**B/fwd**
**Income/**
**gains**
2024/25
Unrestricted Fund
**26,271**
**77,730**
Endowment Fund
**497,000**
**-**
Total
**523,271**
**77,730**
2023/24
Unrestricted Fund
**28,523**
**70,975**
Endowment Fund
**479,000**
**18,000**
Total
**507,523**
**88,975**|**2025**
**£**
**25,657**
**7,748**
**33,405**
**Expenditure/**
**losses**
**(70,596)**
**(2,000)**
**(72,596)**
**(73,228)**
**-**
**(73,228)**|2024
**£**
26,271
-
26,271
**Balance**
**C/fwd**
**33,405**
**495,000**
**528,405**
**26,271**
**497,000**
**523,271**|
|---|---|---|
9