## **The Anchor Society CIO** 


Trustees’ report and audited financial statements for the year ended 31 December 2025 

Charity registration number 1167933 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Contents** 

||Page|
|---|---|
|Report of the Trustees|1|
|Statement of Trustees’ responsibilities|7|
|Report of the Independent Auditors|8|
|Statement of financial activities|11|
|Balance Sheet|13|
|Notes|14|





The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Trustees’ Report** 

The Trustees present their report and the financial statements of the charity for the year ended 31 December 2025. The Anchor Society CIO (‘The Society’) is a Charitable Incorporated Organisation and was registered with the Charity Commission on 29[th] June 2016. 

The trustees have adopted the provisions of 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). 

## **Reference and administrative details** 

The Anchor Society CIO is registered with the Charity Commission, number 1167933. 

|**Registered address**|Bennetts Solicitors|
|---|---|
||Barley Wood Stables,|
||Long Lane|
||Wrington|
||Bristol BS40 5SA|
|**Office address**|Unit 1, Eco Studios|
||Clanage Road|
||Bristol BS3 2JX|
|**Independent auditors**|Lawes & Co UK Limited|
||Boyce’s Building|
||40-42 Regent Street|
||Clifton|
||Bristol BS8 4HU|
|**Solicitors**|Bennetts Solicitors|
||Barley Wood Stables,|
||Long Lane|
||Wrington|
||Bristol BS40 5SA|
|**Bankers**|HSBC UK Bank Plc|
||62 George White Street|
||Cabot Circus|
||Bristol BS1 3BA|
|**Investment advisers**|RBC Brewin Dolphin|
||40 Queen Square|
||Bristol BS1 4QP|
||Evelyn Partners Investment Management LLP|
||EQ Bristol|
||111 Victoria Street|
||Bristol BS1 6AX|
|**Chief Executive**|EG Collier|
|**Website**|www.anchorsociety.org.uk|



1 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Trustees’ Report (continued)** 

## **Trustees** 

The following served as Trustees during the year: 

SB Mills President 2024-25 B Hardy President 2025-26 (appointed 6 January 2025) CP Nicholls President 2026-27 (appointed 13 November 2025) HL Wallington Hon Secretary RE Evans Hon Treasurer BJ Hanson RP Kennedy JC Oakland RB Pitter 

## **Structure and Governance** 

The charity is controlled by its governing document, the Constitution, and is managed by the Trustees, who comprise the current President of the Society, the immediate past President and the President designate, the Honorary Secretary and Honorary Treasurer, together with additional trustees. The Trustees are empowered by its constitution to appoint additional trustees. All new trustees are given the Essential Trustee and receive an induction from the team. 

Training is assured by the succession process involved in the President's appointment. All Executive members, whether Trustees or Secondees, are appointed from the Society's membership and are assessed by the Executive as having the required skills and experience to fulfil their responsibilities. The Chief Executive holds a manual of procedure of the Society which is available to all Trustees. Decisions are made by the Trustees who meet on a quarterly basis. 

## **Objectives and activities for the public benefit** 

The Anchor Society was formed as an unincorporated charity in 1769 and was registered with the Charity Commission (No 208756). The Anchor Society CIO (The Society) was entered on the Register of Charities on 29th June 2016 (No 1167933). On 31 December 2016, The Anchor Society CIO acquired the assets and liabilities of The Anchor Society. 

The Society assists people over 55 in need within Bristol and the surrounding area in a number of ways: 

We provide financial assistance through the payment of regular and single payment grants to assist with urgent personal needs. The Society also provides grants to organisations who work directly with the over 55s, furthering our reach into communities During 2025 the Society developed a new open application process, enhancing our transparency and reach. Grant applications are considered by a committee of Trustees and are made on their merit. 

The Society has been involved in the development of sheltered housing and day care provision for older people in the city. New Anchor House in Knowle provides 21 flats and was developed by the Society in conjunction with the Guinness Trust. The freehold reversion remains with the Society and the Guinness Trust have a long lease. The Society was also involved with Guinness in the development of Southlands residential care home in Knowle and Lincolns Gardens in Redfield. Both properties are owned and managed by the Guinness Trust, and the construction of the Day Care Centres at both Southlands and Lincolns Gardens was financed by long-term loans from the Society. 

The development of affordable housing at Coopers Close in Lawrence Weston was completed in 2013. It is a development of eight chalet bungalows providing sheltered accommodation for the elderly on a long-leasehold tenure; the bungalows are owned either outright or on a shared-equity basis with the Society. 

2 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Trustees’ Report (continued)** 

The charity’s trustees have complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission on public benefit. 

## **Review of developments, activities and achievements** 

The principal fundraising event in the year is the President's collection. These donations are used to directly support older people in need, either by way of regular grants or specific, small emergency grants towards urgently needed improvements or repairs to their homes. During the 2025 the trustees and team worked hard to implement a new open grant programme to facilitate transparency, widen our impact and improve accessibility. 

To facilitate good applications, we have developed guidance which is publicly available on our website (www.anchorsociety.org.uk). Additionally, we provide information on eligibility, exclusions, reporting and examples of previous grants awarded. The staff team is available to respond to questions of eligibility and other enquiries. The team additionally offer nonfinancial support such as signposting to other suitable funding organisations. 

During 2024 the Trustees agreed the following themes for our organisational grant making to focus on: 

- Reducing isolation/social exclusion, improving wellbeing, 

- Focusing on the root cause/prevention, keeping people active, 

- Financial planning and employability support for over 55s. 

The Society will achieve these aims by: 

- Working in partnership with others, 

- Supporting innovation, 

- Supporting intergenerational work, 

- Engaging with more diverse beneficiaries, 

- Connecting with the community better to identify what they need, 

During the 2025 year there were two rounds of grant making undertaken in July and October. In 2026 this will expand to four rounds in the year. During the year we award £119,827 worth of grants to 19 different organisations. Together with our funding awarded at the end of 2024 for activity in 2025, our grants support over 6000 older people, improving their wellbeing, health and improving financial knowledge and employability. 

## **Some of our Funded Organisations** 

- LifeCycle – We provided funding to support their bike mechanic volunteering programme for isolated and out of work over 55s. The grant will be used to support 12 volunteers who are either retirees or older ex-offenders. Many people struggle with isolation and mental health post-retirement, feeling lost or without purpose. Prisoners often come from extremely adverse backgrounds. 60% grew up in circumstances meaning they didn't regularly attend school, while 50% have no qualifications, this funding will holistically support these individuals. 

- Carers Support – The funding is being used to expand the Befriending and Connection service which provides 6 consecutive weeks of goal focused befriending support to carers aged 55+ over the phone with a trained volunteer. The calls provide: Opportunity for emotional support and befriending, reducing isolation and increasing wellbeing, the chance to speak to a nonjudgmental listening ear, enabling carers to navigate new and challenging situations, Information about support and activities which are running in their local communities, to build longer term connections, opportunity to be matched with another carer for ongoing peer support and friendship once the calls have ended. 

3 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Trustees’ Report (continued)** 

- Age UK South Gloucestershire – Our funding supported their Digital Inclusion Programme, which tackles digital and social exclusion with a focus on wellbeing and aging well. The programme helps participants build digital skills through home visits and three digital cafes across South Gloucestershire. The sessions are tailored to user need and interests, delivered by trained staff and volunteers. By improving digital literacy, participants maintain independence, can access services and stay socially connected. It helps reduce loneliness and keeps minds active, encouraging resilience and lifelong learning. Guidance is given on banking, financial tools, employability resources. They place particular emphasis on reaching those most vulnerable or marginalised. 

- Golden-Oldies Charity – Our funding supported the Goldies to start 5 new monthly Sing&Smile groups in Bristol, BANES, North Somerset and South Gloucestershire. Activities are open to everyone, most participants being older adults aged 70+ often living in social isolation, in deprived communities with little access to other supportive services. Groups are also attended by adults with learning difficulties and disabilities and their carers and people with mental health difficulties, stroke survivors, Alzheimer's and Dementia. Funding will also support the costs of 3 Goldies BIG CHRISTMAS SINGs in December 2025, one for BANES groups, one for Bristol and South Glos groups and one for North Somerset groups. The activities bring the following benefits: lifting mood, stimulating immune response, releasing endorphins, improving sleep, improve lung capacity, posture, tone facial and stomach muscles. Singing known to improve stress, mental and physical health and wellbeing. The groups can help people feel less lonely and isolated. 

- St George’s – We provided funding to St George's to provide free tickets to older people for their lunchtime concerts, followed by a cup of tea and an opportunity to socialise. Our funding made 500 tickets available supporting attendees with increasing wellbeing and happiness. 

- Bristol Beacon – There are a range of projects within this support, one being Group Dementia Sessions called 'Our music club'. The club is facilitated by three professional musicians who encourage and enable music playing and listening to improve wellbeing. 62 sessions of the club were able to run as a result of our funding. 100% of the participants said that the sessions have improved their health and wellbeing and gave them confidence to meet new people. Over 700 participants attended our funded events. 

## **Grants to individuals** 

The continuing cost of living crisis means that we are finding a higher demand for our grants for older people facing severe poverty. We are supporting increasing numbers of people needing furniture, white goods and carpets, particularly when moving into sheltered accommodation. We work closely with our referrers to ensure those in real need are supported. 

During the year we made over 100 emergency grants to individuals in need. These grants were predominantly given for flooring and heating, to those in need experiencing financial hardship. Our oldest beneficiary was 91 and our youngest 55. 42% of our grants were given to those aged 55-64, 32% to those aged 65-74 and the final 26% to those aged over 75. 

This work was supported by a number of other Trusts and Foundations including valuable support from the John James Foundation. Our work with St Monica Trust allowed us to fund boilers and heating to 32 vulnerable people in need, double the number of people from 2024, where no other scheme was appropriate. 

This year we gave £117,713 in grants to individuals, an increase of £5,728 from last year and an increase of £57,000 from 3 years ago. The average grant increased to over £1,000 predominantly due to rises in the cost of goods and services. 

4 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Trustees’ Report (continued)** 

## **Improving the lives of older people through partnerships** 

## _**Bristol Older People’s Funders Alliance partnership**_ 

We are pleased to be working with a number of different grant-giving charities in Bristol through the Bristol Older People’s Funders Alliance (BOPFA). 

This year, along with our partners, we supported the following projects: 

## _**The Greenway Hub for Older People based in Southmead in Bristol**_ 

The Hub brings together a wide variety of community led services and activities to support wellbeing and independence into older age. Examples of the activities on offer include knit and natter, fitness classes, bingo, a wellbeing choir, coffee mornings, a walking group, and creative writing. The great advantage of these activities is that they are in groups, so provide an antidote to loneliness and isolation. We have committed to supporting the Co-ordinator's post for three years. 

## _**Alive – BME Elders Project**_ 

This project offers a diverse range of activities, including group social meetings, day outings to places of interest, open-door events hosting other groups, opportunities for participants to lead community events, and information and advice sessions. 

Beneficiaries of the project report significant improvements in their health and well-being. Many feel less lonely, more connected to their communities, and better able to access services. Participants also report reduced digital exclusion, greater financial resilience, and improved coping skills. These outcomes have contributed to reduced reliance on health and social care services, enabling older individuals to maintain their independence, remain in their own homes longer, and enjoy a better quality of life. Over the past six months, 140 individuals have benefitted from this funding. 

## _**St Pauls Advice Centre, North Bristol Advice Centre, South Bristol Advice Services**_ 

The three advice centres are providing essential financial advice to older people in need. Many of the centres' clients don't have enough income to meet their living costs. This leads to debt (eg rent arrears, council tax arrears, fuel debt) and the threat of legal action, including eviction. 

These organisations help older people negotiate the benefits system, providing benefits checks to ensure they are receiving the correct benefits; support to fill in application forms (eg for Attendance Allowance or Pension Credit); Support to challenge benefits decisions (eg Mandatory Reconsiderations when Personal Independence Payment (PIP) is not allowed); and signposting to additional support and services (eg adaptations, cold homes). Further support is given through debt advice and support with grants from other charities. Over 1,400 people have been supported through this work. 

## _**Age UK Bristol**_ 

Age UK Bristol Information & Advice (I&A) Service offers a comprehensive financial Information and Advice service for anyone aged 55 and over in Bristol. Funding through BOPFA supported the general manager of the service. The I&A service deals with all presenting issues, such as low income, homelessness or risk of eviction, poor quality housing conditions, and need for social care services. The economic climate and recent changes to the benefits system have made casework more complex and funding through BOPFA allows this essential and complicated work to be supported. 

5 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Trustees’ Report (continued)** 

## **Financial review** 

On 31[st] December 2025, the unrestricted reserves of the Society, which stand at £5,054,889 are mostly invested in long term, designated schemes (£4,206,378). Its general reserves amounted to £848,511 In addition, there were restricted funds of £20,000. The level of reserves held by the Society is reviewed at each meeting of the Trustees. They aim to ensure that there are sufficient reserves to meet any shortfall in future income, which, due to its voluntary nature, is uncertain and to meet any unforeseen circumstances. 

The Society’s principal funding sources are the President’s collection, which is held annually during November, and income from investments. 

During 2025, the global financial position continued to be influenced by conflicts across the world, the energy crisis and the aftermath of the pandemic. During the year, the value of charity’s listed investments increased by £167,418, which the trustees consider satisfactory. The investment strategy is reviewed regularly, at least every three years. 

The Society reviews the level of cash and investments held at each meeting of the Trustees to ensure there are sufficient liquid funds to meet its commitments over the coming 12 months. 

Further details of reserves are included in note 16 to the financial statements. 

## **Risk management** 

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure proper controls are in place to provide reasonable assurance against fraud and error. Risks and their management are formally reviewed every year. 

Within the charity the Trustees manage and act on the strategic risks while the CEO manages the operational risks. High scoring risks, those with a high likelihood and impact are actively managed. The key risks to the charity identified are: 

- Failure to achieve charitable impact: The Trustees monitor charitable impact at all board meetings. A sub-committee of the Board, the Grants Committee ensure due diligence around individual grants, monitoring applications, process, outcomes and outputs. 

- Loss of key personnel: 

   - The Trustees have acknowledged this as a key risk to the organisation. The chief executive and a committee of trustees review pay and conditions, organisational culture and training opportunities ensuring that employees feel valued and respected. 

- Economic Risk 

The Society takes a long-term view of its investments and receives advice from professional investment managers. A committee of Trustees monitors the investments’ performance, reporting to the Board as necessary. They also monitor the property portfolio ensuring values are appropriate. The Trustees are also aware that as inflation rises, the buying power of the President’s appeal is significantly reduced and new fundraising activity will need to be undertaken. 

6 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Trustees’ Report (continued)** 

## **Statement of trustees’ responsibilities** 

The trustees are responsible for preparing the Report of the Trustees 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 and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution 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, including the income and expenditure, of the charity for that year. In preparing those financial statements, the trustees are required to: 

- § select suitable accounting policies and then apply them consistently; 

- § observe the methods and principles in the Charity SORP; 

- § make judgements and estimates that are reasonable and prudent; 

- § state whether applicable UK 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 which disclose with reasonable accuracy at any time the financial position of the charity and to 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 are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements. 

Approved by order of the Board of Trustees on 23[rd] April 2026 and signed on its behalf by: 

**B Hardy** _President and Trustee_ 

7 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Report of the Independent Auditors to the Trustees of The Anchor Society CIO** 

## **Opinion** 

We have audited the financial statements of The Anchor Society CIO (the 'charity') for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charity's affairs as at 31 December 2025 and of its incoming resources and application of resources, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

8 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Report of the Independent Auditors to the Trustees of The Anchor Society CIO (continued)** 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 

## **Matters on which we are required to report by exception** 

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: 

- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or 

- sufficient accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

## **Our responsibilities for the audit of the financial statements** 

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

We identify and assess the risks of material misstatement in the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks. This includes assessing the risk of non-compliance of laws and regulations, evaluating incentives and opportunities for fraudulent manipulation of the financial statements and management bias in accounting estimates. 

9 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Report of the Independent Auditors to the Trustees of The Anchor Society CIO (continued)** 

Audit procedures performed by the engagement team included, but were not limited to: 

- enquiries with Trustees, including consideration of known or suspected instances of fraud and non-compliance with laws and regulations 

- reviewing transactions that may appear outside the normal course of business 

- obtaining an understanding of the Charity's internal control environment 

We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011. 

In conducting the work above we apply due care and professional scepticism throughout. However, there are limitations within the procedures outlined above and the risk from detecting material misstatement due to fraud is higher than the risk of not detecting one resulting from error. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 

## **Use of our report** 

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. 

## **Mr PA Freeman BA FCA FCCA (Senior Statutory Auditor)** 

for and on behalf of **Lawes & Co UK Limited** 

Chartered Accountants Statutory Auditors 

Boyce’s Building 40-42 Regent Street Clifton Bristol BS8 4HU 

Dated: 30[th] April 2026 

10 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Statement of financial activities** 

## **for the year ended 31 December 2025** 

## **(including income and expenditure account)** 

||||**2025**|||
|---|---|---|---|---|---|
|||**Restricted**|**Designated**|**General**|**Total**|
|||**Funds**|**Funds**|**Funds**||
||_Note_|**£**|**£**|**£**|£|
|**Income from:**||||||
|Donations, grants and legacies|_2_|**35,415**|**105,200**|**281,309**|**421,924**|
|Other trading activities|_3_|**-**|**-**|**12,709**|**12,709**|
|Investments|_4_|**-**|**-**|**47,908**<br>|**47,908**<br>|
|||**35,415**|**105,200**|**341,926**<br>|**482,541**<br>|
|**Expenditure on:**||||||
|Charitable activities|_6_|**51,693**|**105,492**|**203,868**|**361,053**|
|Raising funds|_7_|**-**|**-**|**16,718**<br>|**16,718**<br>|
|||**51,693**|**105,492**|**220,586**<br>|**377,771**<br>|
|**Net income/(expenditure)**||**(16,278)**|**(292)**|**121,340**|**104,770**|
|**Other recognised gains/losses:**||||||
|Gains/(losses) on investment assets:||||||
|Listed investments|_12_|**-**|**-**|**167,418**|**167,418**|
|Unlisted investments|_12_|**-**|**50,605**|**-**|**50,605**|
|Transfers between funds|_16_|**(9,011)**|**140,000**|**(130,989)**<br>|**-**<br>|
|**Net movement in funds**||**(25,289)**|**190,313**|**157,769**|**322,793**|
|**Reconciliation of funds:**||||||
|**Funds brought forward**||45,289|4,016,065|690,742<br>|4,752,096<br>|
|**Funds carried forward**||**20,000**|**4,206,378**|**848,511**|**5,074,889**|



The results for the year derive from continuing activities and there are no gains or losses other than those shown above. 

11 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Statement of financial activities** 

## **for the year ended 31 December 2025** 

## **(including income and expenditure account)** 

## **Prior year comparatives** 

|2024<br>Restricted<br>Funds<br>Designated<br>Funds<br>_Note_<br>£<br>£<br>**Income from:**<br>Donations, grants and legacies<br>_2_<br>32,000<br>90,000<br>Other trading activities<br>_3_<br>-<br>-<br>Investments<br>_4_<br>-<br>-<br>32,000<br>90,000<br>**Expenditure on:**<br>Charitable activities<br>_6_<br>35,687<br>89,700<br>Raising funds<br>_7_<br>-<br>-<br>35,687<br>89,700<br>**Net income/(expenditure)**<br>(3,687)<br>300<br>**Other recognised gains/losses:**<br>Gains/(losses) on investment assets:<br>Tangible fixed assets<br>-<br>(20,100)<br>Listed investments<br>-<br>-<br>Unlisted investments<br>-<br>40,422<br>Transfers between funds<br>-<br>344,090<br>**Net movement in funds**<br>(3,687)<br>364,712<br>**Reconciliation of funds:**<br>**Funds brought forward**<br>48,976<br>3,651,353<br>**Funds carried forward**<br>45,289<br>4,016,065|General<br>Funds<br>Total<br>£<br>£<br>108,583<br>230,583<br>13,229<br>13,229<br>50,859<br>50,859<br> <br> <br>172,671<br>294,671<br> <br> <br>136,798<br>262,185<br>21,812<br>21,812<br> <br> <br>158,610<br>283,997<br> <br> <br>14,061<br>10,674<br>-<br>(20,100)<br>87,032<br>87,032<br>-<br>40,422<br>(344,090)<br>-<br> <br> <br>(242,997)<br>118,028<br>933,739<br>4,634,068<br> <br> <br>690,742<br>4,752,096|
|---|---|



The results for the year derive from continuing activities and there are no gains or losses other than those shown above. 

12 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Balance sheet** 

## **at 31 December 2025** 

|**alance sheet**<br>**t 31 December 2025**||||||
|---|---|---|---|---|---|
|||**2025**||2024||
||_Note_|**£**|**£**|£|£|
|**Fixed assets**||||||
|Tangible assets|_11_|**1,211,778**||1,211,778||
|Investments|_12_|**3,596,441**<br>||3,032,016<br>||
|||**4,808,219**||4,243,794||
|**Current assets**||||||
|Debtors|_13_|**21,022**||7,025||
|Cash at bank and in hand||**257,478**<br>||509,827<br>||
|||**278,500**||516,852||
|**Creditors**||||||
|Amounts falling due within one year|_14_|**(11,830)**<br>||(8,550)<br>||
|**Net current assets**|||**266,670**<br>||508,302<br>|
|**Net assets**||**5,074,889**<br>||4,752,096<br>||
|**Represented by:**||||||
|Restricted funds|_16_||**20,000**||45,289|
|Unrestricted funds|_16_|||||
|Designated Funds||**4,206,378**||4,016,065||
|General Funds||**848,511**<br>||690,742<br>||
|||**5,054,889**<br>||4,706,807<br>||
|||**5,074,889**<br>||4,752,096<br>||



These financial statements were approved by the trustees on 23[rd] April 2026 and signed on its behalf by: 

**B Hardy** _President and Trustee_ 

13 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Notes** 

## **(forming part of the financial statements)** 

## **1 Accounting policies** 

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company’s financial statements. 

## **Basis of preparation** 

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 have been prepared under the historical cost convention. 

## **Income** 

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: 

- Donation income (and associated tax credits) is recognised in the period in which it is receivable. 

- Donated services and facilities and gifts in kind are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts. 

- Rental income is included when receivable. 

- Investment income is included when receivable. 

## **Expenditure** 

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates: 

- § 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. 

- § Governance costs include those costs associated with meeting constitutional and statutory requirements of the charity and include the audit fees and costs linked with the strategic management of the charity.  Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. 

14 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Notes (continued)** 

## **Allocation and apportionment of costs** 

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly; others are apportioned. 

## **Tangible fixed assets** 

Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

Computer Equipment: Straight line over 3 years. 

Depreciation is not provided on freehold buildings as their estimated useful economic life exceeds 50 years, they are well maintained by a programme of continual repairs and improvements and their expected residual value exceeds cost. Having adopted this policy, the Society will carry out annual impairment reviews to ensure that any diminution in value is written off in the Statement of Financial Activities. 

Assets with a value of less than £1,000 are not capitalised. 

## **Listed investments** 

Listed and unlisted investments, and investment properties are included at market value at the balance sheet date. 

## **Leased assets** 

Rentals in respect of operating leases are charged directly to the statement of financial activities in the period in which they fall due. 

## **Taxation** 

The charity is exempt from tax on its charitable activities. 

## **Revaluation gains** 

The revaluation gains shown in the Statement of Financial Activities include both realised and unrealised gains and losses. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. In addition to the elderly and needy of the Bristol area, such funds may be held in order to finance capital investment and working capital. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Designated funds are those which the charity may, at its discretion, set aside for a specific purpose which would otherwise form part of the general reserves of the organisation. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

15 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Notes (continued)** 

## **2 Donations and legacies** 

|||**2025**|2024|
|---|---|---|---|
|||**£**|£|
|Donations and grants||||
||Restricted funds|**35,415**|32,000|
||Designated funds|**105,200**|90,000|
||Unrestricted funds|**79,845**|108,583|
|Legacies - unrestricted||**201,464**<br>|-<br>|
|||**421,924**<br>|230,583<br>|
||**Other trading activities**|||
|||**2025**|2024|
|||**£**|£|
|Anchor Dinner||**3,560**|4,080|
|Rents||**9,149**<br>|9,149<br>|
|||**12,709**<br>|13,229<br>|
||**Income from investments**|||
|||**2025**|2024|
|||**£**|£|
|Listed investments||**40,484**|41,972|
|Cash investment income||**7,424**<br>|8,887<br>|
|||**47,908**<br>|50,859<br>|



## **3 Other trading activities** 

## **4 Income from investments** 

## **5 Analysis of expenditure by activity** 

|||**Grants made**|||
|---|---|---|---|---|
|||**to assist older**|**Support**||
||_Note_|**people**|**costs**|**Total**|
|||**£**|**£**|**£**|
|Grants to institutions|_6_|**137,848**|**-**|**137,848**|
|Grants to individuals|_6_|**117,713**|**-**|**117,713**|
|Expenditure on raising funds|_7_|**-**|**16,718**|**16,718**|
|Governance costs|_8_|**-**<br>|**105,492**<br>|**105,492**<br>|
|||**255,561**<br>|**122,210**<br>|**377,771**<br>|



16 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Notes (continued)** 

## **6 Expenditure on charitable activities** 

|**Notes(continued)**<br><br>**Expenditure on charitable activities**||
|---|---|
|**2025**<br>_Note_<br>**Restricted**<br>**Funds**<br>**Designated**<br>**Funds**<br>**General**<br>**Funds**<br>**£**<br>**£**<br>**£**<br>**Grants to institutions:**<br>ACTA Community Theatre<br>**-**<br>**-**<br>**4,950**<br>Age UK Bristol<br>**-**<br>**-**<br>**9,126**<br>Age UK South Glos<br>**-**<br>**-**<br>**5,000**<br>Alive Activities<br>**-**<br>**-**<br>**7,500**<br>All Saints Lands Charity<br>**6,007**<br>**-**<br>**-**<br>Arnos Vale Cemetery Trust<br>**-**<br>**-**<br>**4,913**<br>Avon Indian Community Association<br>**-**<br>**-**<br>**2,282**<br>Bristol Music Trust<br>**-**<br>**-**<br>**15,000**<br>Carers’ Support<br>**-**<br>**-**<br>**5,000**<br>Centre for Sustainable Energy Somali Project<br>**-**<br>**-**<br>**5,000**<br>Goldies Charity<br>**-**<br>**-**<br>**3,000**<br>Impermanence<br>**-**<br>**-**<br>**5,000**<br>Improving Lives for Older People<br>**-**<br>**-**<br>**2,630**<br>Life Cycle<br>**-**<br>**-**<br>**9,426**<br>Quartet – Advice Centres<br>**-**<br>**-**<br>**10,000**<br>Redcatch Community Garden<br>**-**<br>**-**<br>**5,000**<br>Southmead Development Trust<br>**-**<br>**-**<br>**25,000**<br>St Werburgh’s Community Association<br>**-**<br>**-**<br>**1,000**<br>Return of funds: Wallscourt Foundation<br>**12,014**<br>**-**<br>**-**<br> <br>**18,021**<br>**-**<br>**119,827**<br>**Grants to individuals**<br>**33,672**<br>**-**<br>**84,041**<br> <br>**51,693**<br>**-**<br>**203,868**<br>**Governance costs**<br>**8**<br>**-**<br>**105,492**<br>**-**<br> <br>**Totals**<br>**51,693**<br>**105,492**<br>**203,868**|**Total**<br>£<br>**4,950**<br>**9,126**<br>**5,000**<br>**7,500**<br>**6,007**<br>**4,913**<br>**2,282**<br>**15,000**<br>**5,000**<br>**5,000**<br>**3,000**<br>**5,000**<br>**2,630**<br>**9,426**<br>**10,000**<br>**5,000**<br>**25,000**<br>**1,000**<br>**12,014**<br>|
||**137,848**<br>**117,713**<br>|
||**255,561**<br>**105,492**<br>|
||**361,053**|



## **Prior year comparatives** 

|2024<br>_Note_<br>Restricted<br>Funds<br>Designated<br>Funds<br>£<br>£<br>Grants to institutions<br>-<br>-<br>Grants to individuals<br>35,687<br>-<br>35,687<br>-<br>Governance costs<br>-<br>89,700<br>35,687<br>89,700|General<br>Funds<br>£<br>60,500<br>76,298<br> <br>136,798<br>-<br> <br>136,798|Total<br>£<br>60,500<br>111,985<br>|
|---|---|---|
|||172,485<br>89,700|
|||<br>262,185|



17 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

|**Notes(continued)**<br>**7**<br>**Expenditure on raising funds**<br>**2025**<br>**£**<br>Investment property costs<br>**-**<br>Investment management<br>**13,031**<br>Anchor dinner costs<br>**3,687**<br> <br>**16,718**<br> <br>**8**<br>**Governance costs**<br>_Note_<br>**2025**<br>**£**<br>Staff costs<br>_9_<br>**67,178**<br>Premises<br>**15,202**<br>Printing, postage and office expenses<br>**10,788**<br>General insurances<br>**1,643**<br>Auditors’ remuneration<br>**8,280**<br>Legal and professional costs<br>**1,410**<br>Other costs<br>**991**<br> <br>**105,492**<br> <br>**9**<br>**Staff costs**<br>**2025**<br>**£**<br>Wages and salaries<br>**63,259**<br>Social security costs<br>**-**<br>Pensions costs<br>**1,873**<br>Sundry<br>**2,046**<br> <br>**67,178**<br> <br>Average monthly number of employees<br>during the year<br>**3**<br>|2024<br>£<br>215<br>17,787<br>3,810<br> <br>21,812<br> <br>2024<br>£<br>61,371<br>9,341<br>9,969<br>1,767<br>2,640<br>4,209<br>404<br> <br>89,700<br> <br>2024<br>£<br>59,918<br>-<br>1,453<br>-<br> <br>61,371<br> <br>3<br>|
|---|---|



No employee received emoluments totalling more than £60,000 during the year. 

## **10 Trustees’ remuneration and benefits** 

There were no trustees’ remuneration or other benefits for the year ended 31 December 2025 (2024: £Nil) and no trustees’ expenses were paid for either year. 

18 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Notes (continued)** 

|**Notes(continued)**||
|---|---|
|**11**<br>**Tangible fixed assets**||
|**Land and buildings**||
||£|
|**Net book value**||
|At 1 January 2025|1.211.778|
|**Depreciation**|-<br>|
|**Net book value at 31 December 2025**|**1,211,778**<br>|
|The net book value of land and buildings comprise:||
||**£**|
|**Freehold property**||
|New Anchor House, Wells Road, Knowle, Bristol|**929,778**|
|**Leasehold Property**||
|Shared ownership – Coopers Close|**282,000**<br>|
||**1,211,778**<br>|



New Anchor House is managed by the Guinness Trust. 

The leasehold property at Coopers Close represents sheltered accommodation for the elderly. The current market value is based on the disposal value of a unit which was sold in January 2025. 

19 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Notes (continued)** 

## **12 Fixed asset investments** 

|**2**<br>**Fixed asset investments**|||||
|---|---|---|---|---|
||Land and|Listed|Unlisted||
||buildings|investments|investments|Total|
||£|£|£|£|
|Net Book value at 1 January 2025|50,000|1,772,119|1,209,897|3,032,016|
|Additions|-|528,060|-|528,060|
|Disposals|-|(181,658)|-|(181,658)|
|Revaluations|-|167,418<br>|50,605<br>|218,023<br>|
|**Net book value at 31 December 2025**|**50,000**|**2,285,939**|**1,260,502**|**3,596,441**|



## **Land and buildings** 

The net book value of land and buildings comprise: 

|**Freehold property**<br>Land at Home Farm, Yate|**£**<br>**50,000**<br>|
|---|---|



The buildings at Home Farm were previously sold and the Trustees consider the net book value reflects the current market value of the remaining land. 

## **Listed investments** 

The book cost of investments is £1,925,867. There are no investment assets outside the UK. 

## **Unlisted investments** 

These comprise two loans of £300,000 each made to The Guinness Trust for the purpose of providing very sheltered housing. 

The loans are repayable in 80 years from payment in May 2084 and February 2087 respectively. They will be repayable earlier in the following circumstances: 

- i) where the borrower disposes of its freehold or leasehold interest or 

- ii) where the property ceases to be used for the agreed use. 

The value of the loans has been adjusted in line with the retail price index to recognise the change in value during the year in accordance with the loan agreement. The revaluation is recognised in the Statement of Financial Activities. 

20 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Notes (continued)** 

## **13 Debtors falling due within one year** 

|Prepayments<br>Gift Aid tax repayment<br>Sundry debtors<br>**14**<br>**Creditors falling due within one year**<br>Creditors<br>Accruals<br>Social security and other tax|**2025**<br>**£**<br>**13,559**<br>**173**<br>**7,290**<br> <br>**21,022**<br> <br>**2025**<br>**£**<br>**1,500**<br>**9,000**<br>**1,330**<br> <br>**11,830**<br>|2024<br>£<br>1,180<br>5,545<br>300<br> <br>7,025<br> <br>2024<br>£<br>-<br>7,290<br>1,260<br> <br>8,550<br>|
|---|---|---|



## **15 Operating leases** 

The future minimum lease payments under non-cancellable operating leases expected to be paid by the Society will fall due as follows: 

|With one year<br>Between one and five years<br>**16**<br>**Movement in funds**<br>Restricted<br>Funds<br>Designated<br>Funds<br>£<br>£<br>At 1 January 2025<br>45,289<br>4,016,065<br>Net movement in funds<br>(25,289)<br>190,313<br> <br>**At 31 December 2025**<br>**20,000**<br>**4,206,378**<br>|**2025**<br>2024<br>**£**<br>£<br>**16,728**<br>-<br>**53,784**<br>-<br> <br> <br>**70,512**<br>-<br> <br> <br>General<br>Funds<br>Total<br>£<br>£<br>690,742<br>4,752,096<br>157,769<br>322,793<br> <br> <br>**848,511**<br>**5,074,889**<br> <br>|
|---|---|



21 



The Anchor Society CIO Trustees’ report and financial statements 31 December 2025 

## **Notes (continued)** 

Net movement in funds, included in the above are as follows: 

|Restricted<br>Funds<br>Designated<br>Funds<br>£<br>£<br>Income<br>35,415<br>105,200<br>Expenditure<br>(51,693)<br>(105,492)<br>Gains and losses<br>-<br>50,605<br>Transfers<br>(9,011)<br>140,000<br> <br>**Net movement in funds**<br>**(25,289)**<br>**190,313**<br>|General<br>Funds<br>£<br>341,926<br>(220,586)<br>167,418<br>(130,989)<br> <br>**157,769**<br>|Total<br>£<br>482,541<br>(377,771)<br>218,023<br>-<br> <br>**322,793**<br>|
|---|---|---|



Designated funds are those which the charity may, at its discretion, set aside for a specific purpose which would otherwise form part of the general reserves of the organisation. Specifically, the charity sets aside funds which represent the investment made in freehold and leasehold property, fixed assets for use by the charity and long-term loans to other charities for the provision of services to older persons in Bristol and the surrounding area. In addition, specific substantial legacies are designated funds. 

The trustees have transferred £100,000 to designated reserves from general funds this year. This recognises commitments to existing projects and includes amounts to ensure the continuation of the emergency grants and organisational grants programme. 

Restricted funds are donations that have been received by the Society for specific purposes: 

||Inter-|Small|Boiler|Total|
|---|---|---|---|---|
||generational|grants|replacement||
||£|£|£|£|
|**Brought forward**|27,032|14,612|3,645|45,289|
|Income|-|415|35,000|35,415|
|Expenditure|(6,007)|(15,027)|(18,645)|(39,679)|
|Returned funds|(12,014)|-|-|(12,014)|
|Transfer to general funds|(9,011)<br>|-<br>|-<br>|(9,011)<br>|
|**Carried forward**|**-**|**-**|**20,000**|**20,000**|



Restricted funds are held in a separate bank account. 

## **16 Related party transactions** 

During the year, the following relevant transactions occurred: 

- Grants totalling £105,200 and a donation of £15,000 were received from The Anchor Society Limited. RE Evans, HL Wallington and BJ Hanson, trustees, were also trustees of The Anchor Society Limited. 

- Restricted funds of £12,014 that had previously been received from the Wallscourt Foundation were returned during the year. SB Mills, trustee, is also a trustee of the Wallscourt Foundation. 

- A grant was made the Bristol Music Trust of £15,000. SB Mills, trustee, is also a trustee of the Bristol Music Trust. 

- During the year, the Society paid £1,410 to Bennetts Solicitors for professional advice. HL Wallington, a trustee, is a partner at Bennetts Solicitors. 

22