## THE BLAKE COTTAGE TRUST
## **Trustees’ Report**
## **and Unaudited Financial Statements**
for the year ended 31 October 2025
**Registered Charity Number 1160716 Registered Company Number 09288779**
## **THE BLAKE COTTAGE TRUST**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
## **INDEX**
||**Page**|
|---|---|
|**Charity information**|**1**|
|**Trustees’ report, including Chair’s report**|**2**|
|**Independent Examiner’s report**|**7**|
|**Statement of financial activities**|**8**|
|**Balance sheet**|**9**|
|**Accounting policies**|**10**|
|**Notes to the financial statements**|**12**|
## **THE BLAKE COTTAGE TRUST**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
## **CHARITY INFORMATION**
**Trustees** Douglas Nicholls Chair Jonathan Mullard Secretary until Nov 2024 (Resigned 27 May 2025) Steve Orchard Treasurer Camila Oliveira Querino Richard Clemmow David Clarke (Resigned 19 May 2025) Sharyn Wortman (Resigned 27 May 2025) Antonia Lloyd-Jones (Resigned 31 Dec 2024) Dr Irene Campbell (Appointed 20 June 2025) Rachel Higbee (Appointed 9 Dec 2024, resigned 31 Oct 2025) Daphne Irene Romney KC (Appointed 20 June 2025) Suzannah Gail Lloyd (Appointed 26 Nov 2025) Mark McCahill (Appointed 25 Aug 2025, resigned 12 May 2026)
**Registered & Principal office** 1 Blakes Road Felpham West Sussex PO22 7EB **Registered charity number** 1160716
**Registered company number** 09288779
**Independent examiner** Katie Wilson FCA Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY
**Bankers** Metrobank 1 Southampton Row WC1B 5HA
**Page 1**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
## **THE BLAKE COTTAGE TRUST**
## **TRUSTEES’ REPORT, INCLUDING CHAIR’S REPORT**
The Trustees, who are directors for the purposes of company law, present their report and financial statements for the year ended 31 October 2025.
The financial statements have been prepared in accordance with the accounting policies, set out in notes to the accounts and comply with the charity's governing document, the Companies Act 2006, the Charities Act 2011 and 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) (as amended for accounting periods commencing from 1 January 2019).
## **Introduction from the Chair**
This has been a year of transformation for the Blake Cottage Trust – one in which the work of restoration, fundraising and community building moved from a vision to a visible, tangible reality. When the year began, the roof of Blake’s Cottage remained at serious risk. By its close, a magnificent new thatched roof had been completed by skilled heritage craftspeople, the building’s structural future had been secured, and the Trust had received the most significant single investment in its history.
In March 2025, the National Lottery Heritage Fund awarded the Trust a grant of £243,000 – a landmark moment that validated the momentum, governance, and credibility of the Board. The grant unlocked not only capital restoration works but capacity for community engagement, project management and long-term planning. This achievement and the completion of the roof restoration, are testament to the dedication of our Trustees, Ambassadors, volunteers, craftspeople, professional advisers and the many individuals and organisations who have contributed to the Trust’s mission.
The year also brought an important conservation discovery: archaeological and bibliographic research revealed that the eastern extension to the cottage was not of Blake’s era in its current form. Listed Building Consent was obtained and work is now in hand to restore the extension to the single-storey form that William and Catherine Blake would have known. This conservation-led approach strengthens both the historical integrity of the project and its long-term educational value.
We are deeply grateful to all those who have supported and joined us in this endeavour. There is much still to do, but the progress of this year gives the Board and the wider Blakean community real cause for confidence as we look towards 2027.
## **Objectives and Public Benefit**
## _**Objects**_
The Charity’s objects are restricted specifically to the promotion, encouragement, maintenance, improvement and advancement of education of the public in the life and works of William Blake and to equipping and maintaining his surviving homes, in particular the property located at 1 Blake’s Road, Felpham, Bognor Regis, PO22 7EB, as a focal point for the study and appreciation thereof.
## _**Public benefit**_
In planning the future of the Cottage, we keep in mind the Charity Commission’s guidance on public benefit at all our Trustee Meetings which take place frequently. The charity’s main activity has been to progress the repair and restoration of the Cottage in furtherance of its charitable objects for the public benefit.
## **Structure, Governance and Management**
The Blake Cottage Trust is a private company limited by guarantee, constituted by the Memorandum and Articles of Association incorporated 30 October 2014 and registered as a charity 2 March 2015.
During the year, three original Trustees reached the end of their terms and were re-elected by the remaining Board: Doug Nicholls, Camila Oliveira Querino and Jonathan Mullard were all re-elected in November 2024. Jonathan Mullard subsequently resigned as a Trustee in May 2025. Antonia Lloyd-Jones, David Clarke and Sharyn Wortman also resigned during the year, and the Board records its warm thanks to all four for their significant contributions to the Trust.
**Page 2**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
## **THE BLAKE COTTAGE TRUST**
## **TRUSTEES’ REPORT, INCLUDING CHAIR’S REPORT**
New Trustees appointed during the year were Rachel Higbee (December 2024), Irene Campbell and Daphne Romney KC (both June 2025) and Mark McCahill (August 2025), bringing expertise in heritage, law, community engagement, archives and project management. Rachel Higbee resigned in October 2025 and the Board would like to thank her for her services. The Board now has seven active Trustees and continues to seek to build diversity of background and experience in its membership.
Three sub-groups – Restoration, Fundraising and Communications – continue to operate with clear terms of reference and accountability to the full Board. An Ethical Funding Policy was adopted during the year.
Trustees are selected from our knowledge of people who have the skillset and experience that match those required to achieve the Trust’s mission of restoring the cottage. Trustee appointments are subject to a unanimous Board vote. As part of our preparation for our NLHF funding bid we have prepared a plan to appoint a third party expert review of all our governance processes.
Our organisational structure has been reviewed and refreshed. We’ve adopted new policies on Equality and Diversity and Safeguarding and begun building a network of volunteers and Friends.
## **Vision and Purpose**
William Blake lived at Blake Cottage in Felpham from 1800 to 1803. Here he wrote Milton, including the words later adapted into the hymn Jerusalem, and conceived much of his most celebrated work. This humble thatched house in West Sussex is a site of national and international cultural importance.
Our purpose is to save and restore Blake’s Cottage for public use, and to create a space dedicated to creative freedom, education, imagination and community – all values Blake held dear.
We intend for Blake’s Cottage to become:
- A centre for public learning about Blake’s life and works
- A heritage site conserved to the highest standards
- A place of quiet inspiration for artists, students and scholars
- A resource for the local community
- A hub for inclusive cultural exchange rooted in Blake’s radical legacy
## **Highlights of 2024-25**
This year has seen the most significant advances in the Trust’s history:
## **Restoration and Fabric**
- Completion of the major roof restoration works, including removal of failed thatch and decayed timbers, structural masonry repairs, chimney rebuilding, and re-thatching with historically appropriate materials, all undertaken by accredited heritage craftspeople in close consultation with Historic England and Arun District Council.
- Discovery, through archaeological and bibliographic research, that the eastern extension was not in its Blakeera form; Listed Building Consent obtained to remove the later first-floor addition and restore the extension to its single-storey configuration.
- Demolition of an unsafe chimney stack on the east of the cottage.
- Removal of twentieth-century internal additions, enabling further investigation of the historic fabric.
- Commissioning of an options appraisal for the long-term restoration and visitor centre by Martin Ashley Architects and Hugh Broughton Architects, with site meetings held with Historic England and Arun District Council.
- Archaeological surveys commissioned and completed, informing future Listed Building Consent applications.
- **Fundraising and Grants**
- £243,000 grant awarded by the National Lottery Heritage Fund (March 2025) with £121,977 received during the year – the most significant grant in the Trust’s history, supporting roof works, community engagement, options appraisal, project co-ordination and capacity-building.
- £3,000 received from the Architectural Heritage Fund for a research study.
- £25,000 awarded from the Garfield Weston Foundation towards the ‘Raise the Roof for Blake’ project.
- £5,000 awarded from the Foulerton Trust for building investigation works.
- £15,000 received from the Foyle Foundation towards the ‘Raise the Roof for Blake’ project.
**Page 3**
## **THE BLAKE COTTAGE TRUST**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
## **TRUSTEES’ REPORT, INCLUDING CHAIR’S REPORT**
- A successful NLHF second tranche claim submitted in September 2025, demonstrating total project spend of £134,882.
- • Expressions of Interest submitted to Historic England’s Heritage at Risk fund and the DCMS heritage funding programme.
- Launch of a legacy giving strategy and corporate sponsorship programme.
- Inaugural US Friends advisory committee meeting held in October 2025.
- Donations from Billy Bragg (proceeds of a guitar auction, £2,000) and the West Sussex Women’s Institute (£457), among others.
## **Community and Partnerships**
- A sold-out Heritage Open Day in September 2025 – the first time the public had been given behind-the-scenes access to the cottage – generating strong positive feedback and new volunteer interest.
- • A public consultation evening at St Mary’s Centre, Felpham in November 2025, at which early-stage architectural options for the long-term visitor centre were shared with the local community.
- • Participation in Blakefest and a range of local community and cultural events.
- A VE Day community stall at which new volunteers were recruited.
- A Blake-themed poetry competition in partnership with Bognor Library’s National Poetry Day project.
- • A visit to the British Library in June 2025 to view Blake’s original notebooks and prints; the Lead Curator offered to digitise images of Felpham for the Trust and facilitated a connection with the Morgan Library, New York.
- • Strong partnerships developed with the University of Chichester (Deputy Vice-Chancellor appointed as Ambassador), Arun District Council, West Sussex County Council, Historic England, the Blake Society, Felpham Community College, St Mary’s Church Felpham, the Felpham Conservation Society and a range of local arts and heritage organisations.
- Initiation of discussions with national Blake-holding institutions – including the Tate, V&A, Fitzwilliam Museum and BBC – on a co-ordinated Blake 200 programme for 2027.
## **Media and Outreach**
- Ongoing national and local press coverage contributing to a steady increase in individual donations and newsletter subscriptions.
- The Chair gave presentations to the Petworth History Society, Worthing Mother’s Union and the Blake Society, among others.
- Continued filming of a documentary about the cottage restoration.
- New Ambassadors recruited including Dr Rebecca Marks and Dr Mark Mason (Deputy Vice-Chancellor, University of Chichester).
- The newly completed thatched roof became a visible symbol of progress, generating widespread goodwill and media interest locally and nationally.
## **Financial Review**
The year ended 31 October 2025 with:
- Income of £177,905 (2024: £50,558)
- Expenditure of £85,906 (2024: £33,741)
- Bank balance of £13,721 (2024: £35,434)
At the balance sheet date, the charity’s free reserves (unrestricted income funds not represented by fixed assets or designated for specific purposes) were at deficit £3,322 (2024: a surplus of £6,488). The trustees expect the deficit to be eliminated through future income and fundraising.
The Trust has benefited from careful stewardship. Key financial actions included resolving legacy banking access issues and improving donor processes and systems. Our financial priority remains securing capital funding for restoration, especially the roof.
At this stage in the Trust’s development we do not believe that we should hold substantial reserves. The urgent requirements of completing the conservation of the cottage fabric, delivering the NLHF-funded programme of activities and developing the next phase of the project – including the full restoration and opening of the cottage to the public – necessitate channelling the great majority of our funds to those ends. The Trust’s free reserves position will be reviewed annually by the Treasurer and reported to the Board.
**Page 4**
## **THE BLAKE COTTAGE TRUST**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
## **TRUSTEES’ REPORT, INCLUDING CHAIR’S REPORT**
## **Future Plans**
Looking ahead to 2025–26, we aim to:
- Complete the restoration of the eastern extension roof, returning the cottage to its Blake-era configuration
- Submit a major capital bid to the National Lottery Heritage Fund for the full restoration of the cottage and development of a visitor centre
- Submit applications to Historic England’s Heritage at Risk fund and other capital funders
- Deliver the full NLHF-funded programme of community engagement and pilot activities
- Advance the options appraisal and architectural design work for the long-term visitor centre
- Develop and implement a corporate sponsorship strategy
- Establish the US Friends advisory committee as an active fundraising channel
- Pursue discussions with Arun District Council regarding land and car park access adjacent to the cottage
- Continue to expand and diversify the Board and volunteer base
- Develop a co-ordinated national programme of events and partnerships for Blake 200 in 2027
- Build a sustainable, inclusive and imaginative future for Blake’s Cottage
## **The Trustees wish to thank:**
- Our Ambassadors for their passion, advocacy and practical support
- Our Project Co-ordinator Sarah Parker for her energy, professionalism and commitment to the project
- Specialist Ambassador Nick Tyson for his sustained expert support of the restoration works throughout the year
- The conservation craftspeople – master thatchers KS Thatching, timber framers Joe Thompson and Thomas Hardie / Sussex Oak & Iron, mason Will J Cove, engineer Ed Morton, and Principal Contractor Martin Sewell Building Company – for their skill, patience and care
- Martin Ashley Architects, Hugh Broughton Architects, MICA Architects and all professional advisers
- Historic England and Arun District Council for their constructive and expert engagement throughout
- The National Lottery Heritage Fund for their transformative investment in the project
- The Garfield Weston Foundation, the Foulerton Trust, the Foyle Foundation and all other grant-making bodies and individual donors
- Ambassador Jane Summerville for her invaluable support as minute-taker and administrator
- Irene Campbell for her work cataloguing the Trust’s book collection
- The volunteers and communities of Felpham and Bognor Regis for their enthusiastic and growing support
- Jonathan Mullard, Antonia Lloyd-Jones, David Clarke, Rachel Higbee and Sharyn Wortman for their significant contributions before their resignations during the year
**Page 5**
## **THE BLAKE COTTAGE TRUST**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
## **TRUSTEES’ REPORT, INCLUDING CHAIR’S REPORT**
## **Trustees and Legal Information**
Trustees during the year:
- Douglas Nicholls Chair
- - Jonathan Mullard Secretary until Nov 2024 - Steve Orchard Treasurer
(Resigned 27 May 2025)
- Camila Oliveira Querino
- Richard Clemmow
- David Clarke
- Sharyn Wortman
- Antonia Lloyd-Jones
- Dr Irene Campbell
- Rachel Higbee
- Daphne Irene Romney KC
- Mark McCahill
(Resigned 19 May 2025) (Resigned 27 May 2025) (Resigned 31 Dec 2024) (Appointed 20 June 2025) (Appointed 9 Dec 2024, resigned 31 Oct 2025) (Appointed 20 June 2025)
(Appointed 25 Aug 2025, resigned 12 May 2026)
Charity Number: 1160716 Company Number: 09288779 Website: www.blakecottage.org
S. Orchard Director
Date: 23 July 2026
**Page 6**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
## **THE BLAKE COTTAGE TRUST**
## **INDEPENDENT EXAMINER’S REPORT**
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 October 2025 which are set out on pages 8 to 16.
## **Responsibilities and basis of report**
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Katie Wilson FCA Blue Spire Limited, Chartered Accountants Date 23 July 2026
Cawley Priory South Pallant Chichester West Sussex PO19 1SY
**Page 7**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
## **THE BLAKE COTTAGE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)**
|**Note**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**1**
Other trading activities
**2**
**Total**
**EXPENDITURE ON:**
Raising funds
**3**
Charitable activities
**4**
**Total**
**Net Income/(expenditure)**
**Transfers between funds**
**14**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**13, 14**
**Total funds carried forward**
**13, 14**|**Unrestricted**
**Funds**
**£**
25,928
-
25,928
126
21,369
21,495
4,433
102,160
106,593
547,053
653,646|**Restricted**
**Funds**
**£**
151,977
-
151,977
1,600
62,811
64,411
87,566
(102,160)
(14,594)
14,594
-|**2025**
**Total**
**Funds**
**£**
177,905
-
177,905
1,726
84,180
85,906
91,999
-
91,999
561,647
653,646|**2024**
**Total**
**Funds**
**£**
50,411
147|
|---|---|---|---|---|
|||||50,558|
|||||1,000
32,741|
|||||33,741|
|||||16,817
-|
|||||16,817
544,830|
|||||561,647|
The statement of financial activities includes all gains and losses recognised during the year. All of the above results are derived from continuing activities.
**Page 8**
## **THE BLAKE COTTAGE TRUST**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
## **BALANCE SHEET AS AT 31 OCTOBER 2025**
|**Note**
**FIXED ASSETS**
Tangible assets
**9**
**CURRENT ASSETS**
Debtors
**10**
Cash at hand and in bank
**Total current assets**
**CURRENT LIABILITIES**
Creditors: amounts falling due within one year
**11**
**Net current assets/(liabilities)**
Creditors: amounts falling due after more than one year
**12**
**Net assets/(liabilities)**
**THE FUNDS OF THE CHARITY**
**Restricted funds**
**13, 14**
Designated Funds
General Funds
**Unrestricted funds**
**13, 14**
**Total charity funds**|**£**
**£**
656,968
656,968
17,751
13,721
31,472
4,250
27,222
(30,544)
653,646
-
656,968
(3,322)
653,646
653,646
**2025**|**£**
**£**
540,565
540,565
18,031
35,434
53,465
1,839
51,626
(30,544)
561,647
14,594
540,565
6,488
547,053
561,647
**2024**|**£**
**£**
540,565
540,565
18,031
35,434
53,465
1,839
51,626
(30,544)
561,647
14,594
540,565
6,488
547,053
561,647
**2024**|
|---|---|---|---|
||||561,647|
||||14,594
540,565
6,488|
||||547,053|
|||||
||||561,647|
For the year ended 31 October 2025 the charity was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The trustees (directors) acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 8 to 16 were approved and authorised for issue by the trustees on23 July 2026 and signed on their behalf by:
………………………………………….
S. Orchard Director
The Blake Cottage Trust Registered Charity Number 1160716 Registered Company Number 09288779
**Page 9**
## **THE BLAKE COTTAGE TRUST**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
## **ACCOUNTING POLICIES**
## **General information, scope and basis of the financial statements**
The Blake Cottage Trust is an incorporated charity, and a private company limited by guarantee, incorporated in England with the company number 09288779. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information page of these financial statements. The nature of the charity’s operations and principal activities are outlined in the trustees' report.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
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.
The charity applies the exemptions from the inclusion of a statement of cash flows under the Charities Statement of Recommended Practice.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donors or when funds are raised for a particular restricted purposes.
Further details of each fund are disclosed in Notes 14 and 15.
## **Incoming resources**
All incoming resources are included in the statement of financial activities when the charity is legally entitled to, and virtually certain to receive, the income and the amount can be quantified with reasonable accuracy.
The following policies are applied to particular categories income:
- Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when
- receivable.
- Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity
- becomes unconditionally entitled to the grant.
## **Resources expended**
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
- Costs of generating funds comprise the costs associated with attracting voluntary income.
- Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It
- includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
• Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs. Support costs are incurred and attributed to expenditure on charitable activities on the basis that is consistent with use of the resources.
- Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the
- independent examination fees and costs linked to the strategic management of the charity.
**Page 10**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
## **THE BLAKE COTTAGE TRUST**
## **ACCOUNTING POLICIES**
## **Fixed assets**
Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £250 are not capitalised. Depreciation of equipment and plant is provided at rates calculated to write off the cost of each asset over its expected useful life, which in all cases is estimated at 4 years. Impairment reviews are carried out as and when evidence comes to light that that the recoverable amount of a functional fixed asset is below its net book value due to damage, obsolescence or other relevant factors.
Depreciation has not been charged on the Freehold Land and Buildings (Blake’s Cottage) as in the opinion of the management committee the residual value of this asset is not less than the original cost and hence depreciation would not be material.
## **Taxation**
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purpose.
As a charity, the Blake Cottage Trust is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.
## **Debtors and creditors receivable / payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **Concessionary loans**
Concessionary loans payable to the third parties which are interest free or below market interest rates and are made to advance charitable purposes. Where loan is repayable more than one year, the loan is initially measured at fair value and subsequently measured at amortised cost using effective interest rate method, less impairment.
## **Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
## **Critical accounting estimates and judgements**
In the application of the charity's accounting policies, the trustees are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **Financial instruments**
The charity only has what are considered to be basic financial instruments. Basic financial assets and financial liabilities are initially measured at the transaction price. This will include transaction costs, except when initially measuring items that will subsequently be measured at fair value through profit or loss.
**Page 11**
## **THE BLAKE COTTAGE TRUST**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
## **NOTES TO THE FINANCIAL STATEMENTS**
## **1. Donations and legacies**
|Donations and grants
Gift Aid
**2. Other trading activities**
Rental income
**3. Raising funds**
Fundraising activity
Entertainment - 100% business
Consultancy fees|**Unrestricted**
**Funds**
**£**
23,428
2,500
25,928
**Unrestricted**
**Funds**
**£**
-
-
**Unrestricted**
**Funds**
**£**
-
126
-
126|**Restricted**
**Funds**
**£**
151,977
-
151,977
**Restricted**
**Funds**
**£**
-
-
**Restricted**
**Funds**
**£**
-
-
1,600
1,600|**2025**
**Total**
**Funds**
**£**
175,405
2,500
177,905
**2025**
**Total**
**Funds**
**£**
-
-
**2025**
**Total**
**Funds**
**£**
-
126
1,600
1,726|**Unrestricted**
**Funds**
**£**
11,411
-
11,411
**Unrestricted**
**Funds**
**£**
147
147
**Unrestricted**
**Funds**
**£**
-
-
-
-|**Restricted**
**Funds**
**£**
39,000
-
39,000
**Restricted**
**Funds**
**£**
-
-
**Restricted**
**Funds**
**£**
1,000
-
-
1,000|**2024**
**Total**
**Funds**
**£**
50,411
-|
|---|---|---|---|---|---|---|
|||||||50,411|
|||||||**2024**
**Total**
**Funds**
**£**
147|
|||||||147|
|||||||**2024**
**Total**
**Funds**
**£**
1,000
-
-|
|||||||1,000|
## **4. Charitable activities**
|Water rates
Gardening
Electricity and gas
Premises expenses
Premises insurance
Repairs and renewals
Outreach events
Support costs (see note 5.)
Governance costs (see note 6.)|**Unrestricted**
**Funds**
**£**
397
-
701
-
12,393
4,177
-
2,701
1,000
21,369|**Restricted**
**Funds**
**£**
-
-
-
-
-
26,737
1,002
35,072
-
62,811|**2025**
**Total**
**Funds**
**£**
397
-
701
-
12,393
30,914
1,002
37,773
1,000
84,180|**Unrestricted**
**Funds**
**£**
335
528
452
506
-
-
-
1,680
1,650
5,151|**Restricted**
**Funds**
**£**
-
-
-
589
-
22,860
-
4,141
-
27,590|**2024**
**Total**
**Funds**
**£**
335
528
452
1,095
-
22,860
-
5,821
1,650|
|---|---|---|---|---|---|---|
|||||||32,741|
Property insurance: The committee, in spite of exploring all options, was unable to find any insurer willing to provide cover for the prior year. The property is insured during the financial year.
**Page 12**
## **THE BLAKE COTTAGE TRUST**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
## **NOTES TO THE FINANCIAL STATEMENTS**
## **5. Support costs**
|General purchases
Miscellaneous purchases
Rent
Travel
Subsistence
Printing
Postage, freight & courier
IT software and consumables
Legal costs
Accountancy fees
Consultancy fees
Cleaning
Subscriptions
Insurance|**Unrestricted**
**Funds**
**£**
-
-
-
98
207
-
24
132
34
1,400
-
30
245
531
2,701|**Restricted**
**Funds**
**£**
565
-
-
-
-
-
-
-
-
-
33,667
-
-
840
35,072|**2025**
**Total**
**Funds**
**£**
565
-
-
98
207
-
24
132
34
1,400
33,667
30
245
1,371
37,773|**Unrestricted**
**Funds**
**£**
581
-
100
-
108
-
-
-
-
-
-
300
-
591
1,680|**Restricted**
**Funds**
**£**
86
192
-
-
-
663
-
-
-
-
3,200
-
-
-
4,141|**2024**
**Total**
**Funds**
**£**
667
192
100
-
108
663
-
-
-
-
3,200
300
-
591|
|---|---|---|---|---|---|---|
|||||||5,821|
## **6. Governance costs**
|Independent examiner's fees|**Unrestricted**
**Funds**
**£**
1,000
1,000|**Restricted**
**Funds**
**£**
-
-|**2025**
**Total**
**Funds**
**£**
1,000
1,000|**Unrestricted**
**Funds**
**£**
1,650
1,650|**Restricted**
**Funds**
**£**
-
-|**2024**
**Total**
**Funds**
**£**
1,650|
|---|---|---|---|---|---|---|
|||||||1,650|
## **7. Independent examiner's fees**
|||||**2025**|||**2024**|
|---|---|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**|
|||**Funds**|**Funds**|**Funds**|**Funds**|**Funds**|**Funds**|
|||**£**|**£**|**£**|**£**|**£**|**£**|
|Independent examiner's fees||1,250|-|1,250|1,500|-|1,500|
|Prior
fees|year
-
Independent examiner's
VAT adjustment|(250)|-|(250)|-|-|-|
|Prior|year - Independent examiner's fees|-|-|-|150|-|150|
## **8. Related party transactions**
The charity has no employees with administration being carried out by the trustees without remuneration. During the year under review £39 (2024: £108) was reimbursed to a trustee for subsistence.
With the exception of the loans detailed in note 12 there are no other transactions with related parties which require disclosure in these accounts.
**Page 13**
## **THE BLAKE COTTAGE TRUST**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
## **NOTES TO THE FINANCIAL STATEMENTS**
|**9. Tangible fixed assets**
_Cost_
At 1 November 2024
Additions
On disposals
At 31 October 2025
_Depreciation_
Accumulated at 1 November 2024
Charge for the year
On disposals
At 31 October 2025
Net book value at 31 October 2025
Net book value at 31 October 2024
**10. Debtors**
Accrued income
Energy grants
VAT debtor
**11. Creditors: amounts falling due within one year**
Trade creditors
Accruals
**12. Creditors: amounts falling due after more than one year**
Loans|**Freehold Land**
**& Buildings**
**£**
540,565
116,403
-
656,968
-
-
-
-
656,968
540,565
**2025**
**Total**
**Funds**
**£**
-
31
17,720
17,751
**2025**
**Total**
**Funds**
**£**
-
4,250
4,250
**2025**
**Total**
**Funds**
**£**
30,544
30,544|**Total**
**£**
540,565
116,403
-|
|---|---|---|
|||656,968|
|||-
-
-|
|||-|
|||656,968|
|||540,565|
|||**2024**
**Total**
**Funds**
**£**
18,000
31
-|
|||18,031|
|||**2024**
**Total**
**Funds**
**£**
339
1,500|
|||1,839|
|||**2024**
**Total**
**Funds**
**£**
30,544|
|||30,544|
The loans detailed above were provided by trustees, who resigned on 15 Jan 2024, are only repayable at the point the cottage is open to the public with no interest accruing on the amounts lent.
**Page 14**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
## **THE BLAKE COTTAGE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **13. Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
Non-current liabilities|**Unrestricted**
**Funds**
**£**
656,968
31,472
(4,250)
(30,544)
653,646|**Restricted**
**Funds**
**£**
-
-
-
-
-|**2025**
**Total**
**Funds**
**£**
656,968
31,472
(4,250)
(30,544)
653,646|**Unrestricted**
**Funds**
**£**
540,565
38,871
(1,839)
(30,544)
547,053|**Restricted**
**Funds**
**£**
-
14,594
-
-
14,594|**2024**
**Total**
**Funds**
**£**
540,565
53,465
(1,839)
(30,544)|
|---|---|---|---|---|---|---|
|||||||561,647|
## **14. Analysis of net movement in funds**
|**14. Analysis of net movement in funds**||||||
|---|---|---|---|---|---|
|_Restricted funds_
Creation of audience development plan
Roof protection and repairs
NLHF project
_Total restricted funds_
_Unrestricted funds_
Designated Fund
General Fund
_Total unrestricted funds_
Total funds||**Year ended 31 October 2025**||||
||**Total funds**
**brought**
**forward**
**£**
-
14,594
-
14,594
540,565
6,488
547,053
561,647|**Total**
**incoming**
**resources**
**£**
-
30,000
121,977
151,977
-
25,928
25,928
177,905|**Total**
**resources**
**expended**
**£**
-
(44,594)
(19,817)
(64,411)
-
(21,495)
(21,495)
(85,906)|**Transfers**
**between**
**funds**
**£**
-
-
(102,160)
(102,160)
116,403
(14,243)
102,160
-|**Total funds**
**carried**
**forward**
**£**
-
-
-|
||||||-|
||||||656,968
(3,322)|
||||||653,646|
||||||653,646|
Transfers were made during the year to cover the restricted fund overspend and to transfer fixed assets funded from restricted income to the designated fund.
|_Restricted funds_
Creation of audience development plan
Roof protection and repairs
_Total restricted funds_
_Unrestricted funds_
Designated Fund
General Fund
_Total unrestricted funds_
Total funds||**Year ended 31 October 2024**|**Year ended 31 October 2024**|**Year ended 31 October 2024**||
|---|---|---|---|---|---|
||**Total funds**
**brought**
**forward**
**£**
-
3,000
3,000
527,419
14,411
541,830
544,830|**Total**
**incoming**
**resources**
**£**
4,000
35,000
39,000
-
11,558
11,558
50,558|**Total**
**resources**
**expended**
**£**
(5,184)
(23,406)
(28,590)
-
(5,151)
(5,151)
(33,741)|**Transfers**
**between**
**funds**
**£**
1,184
-
1,184
13,146
(14,330)
(1,184)
-|**Total funds**
**carried**
**forward**
**£**
-
14,594|
||||||14,594|
||||||540,565
6,488|
||||||547,053|
||||||561,647|
**Page 15**
## **THE BLAKE COTTAGE TRUST**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
## **NOTES TO THE FINANCIAL STATEMENTS**
## **15. Description of funds**
|Creation of audience development plan|Funds received for the creation of audience development plan.|
|---|---|
|Roof protection and repairs|Funds received for the roof protection and repairs.|
|NLHF project|Funds received for undertaking a range of organisational resilience and preparatory|
||works towards developing longer term plans, including a variety of commissions.|
## **16. Comparative statement of financial activities**
|**Note**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**1**
Other trading activities
**2**
**Total**
**EXPENDITURE ON:**
Raising funds
**3**
Charitable activities
**4**
**Total**
**Net Income/(expenditure)**
**Transfers between funds**
**14**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**13, 14**
**Total funds carried forward**
**13, 14**|**Unrestricted**
**Funds**
**£**
11,411
147
11,558
-
5,151
5,151
6,407
(1,184)
5,223
541,830
547,053|**Restricted**
**Funds**
**£**
39,000
-
39,000
1,000
27,590
28,590
10,410
1,184
11,594
3,000
14,594|**2024**
**Total**
**Funds**
**£**
50,411
147|
|---|---|---|---|
||||50,558|
||||1,000
32,741|
||||33,741|
||||16,817
-|
||||16,817
544,830|
||||561,647|
**Page 16**