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2025-12-31-accounts

THE GREGSON FAMILY FOUNDATION REGISTERED CHARITY NO. 1171351

FINANCIAL STATEMENTS

For the year ended 31 December 2025

(Ref: 05233985)

THE GREGSON FAMILY FOUNDATION REGISTERED CHARITY NO.1171351

Contents to Financial Statements for the year ended 31 December 2025

Page

1

ANNUAL REPORT OF THE TRUSTEES

For the year ended 31 December 2025 Full name of Charity: The Gregson Family Foundation Nature of governing document: Trust deed dated 24 January 2017 Registration Number: 1171351 Trustees: David Gregson Ian Topping Thomas Eggar Trust Corporation Ltd

Directors of Thomas Eggar Trust Corporation Ltd:

Paula Caryn James Darran Fawcett Sarah Phillips Caroline Shelton James Pavey Michael Taylor Naomi Neville (appointed 29 October 2025) Registered Address: Riverside East, 2 Millsands, Sheffield, S3 8DT Banker: Barclays Bank PLC, 74-75 East Street, Chichester, West Sussex. PO19 1HL Solicitors: Irwin Mitchell LLP, Thomas Eggar House, Friary Lane, Chichester, West Sussex, PO19 1UF Investment Managers: Brewin Dolphin Limited, 12 Smithfield Street, London. EC1A 9BD Independent Examiners Carpenter Box, 4 Dukes Court, Bognor Road, Chichester, West Sussex. PO19 8FX Operating Restrictions: Charitable objects according to the Law of England Specific investment powers: Wide unrestricted powers given to the Trustees in the deed dated 24 January 2017

Objects of the charity :

The Trustees shall hold the capital and income of the Trust Fund upon trust to apply the income and all or such part or parts of the capital at such time or times and in such manner to or for the benefit of such exclusively charitable objects and purposes in any part of the world as the Trustees may in their discretion think fit or towards

GA: 5257352_1

2

Grant making policy :

The capital and income of the Trust is to provide only for the assistance or provision of funds as detailed in the deed dated 24 January 2017.

Financial review and investment policy :

There are no restrictions on the charity’s power to invest. The investment strategy is set by the trustees for a period of five years and takes account of demand for funds. The trustees consider the income requirements, the risk profile and the investment manager’s view of the market prospects in the medium term. This strategy is set within an overall policy which states that the fund is to be invested in moderate risk investments with a view to ensuring that capital appreciation of the fund exceeds inflation over each five year period. The funds may be invested in any type of investment. Our strategy is reviewed with our investment managers annually.

This is the eighth year of The Gregson Family Foundation. During the year incoming resources totalled £113,563 (2024: £110,998) resources expended totalled £57,369 (2024: £68,812) and there were other recognised gains of £109,956 (2024: £96,206). As a result the fund balance carried forward at 31 December 2025 was £1,549,394 (2024: £1,383,244).

The Trustees confirm that they did not receive any remuneration during the year, nor were they reimbursed for any expenses.

Reserves policy :

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately six months expenditure, totaling £28,500. This provides sufficient funds to cover management and administration and support costs and to respond to emergency applications for grants which may arise. Unrestricted funds were maintained at this level throughout the year.

Risk management :

The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

Trustees’ responsibilities in relation to the financial statements :

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:

  1. select suitable accounting policies and then apply them consistently;

  2. observe the methods and principles in the Charities SORP;

  3. state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and

  4. 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 accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees confirm that the accounts comply with the governing document.

GA: 5257352_1

3

At present there are three Trustees, the minimum allowed in the Trust Deed, with an unlimited maximum. The first Trustees are entitled to hold office for life. Future Trustees must be appointed by resolution of the Trustees.

......................................... ............................................. David Gregson Ian Topping ......................................... Dated...................................... Director For and on behalf of Thomas Eggar Trust Corporation Ltd

GA: 5257352_1

At present there a￿ three Trustees, the minimum allowed in the Trust Deed, with an unlimited maximum. The first Trustees are entitied to hold Offi￿ for lrfe. Future Trustees must ￿ app)int8d by resolulion of the Trustees. Davwj Gregson lan T¢)pping 01.05.2026 Director For and on behalf of Thomas Eggar Trust Corporation Ltd GA.. 5257352 1

Al Pl¥bgllt tliere are three Trustees. tne minimum allowed in the Tnjst Deed, wth an unlimited msximum. The first Trustees 8re entilled to hold office for life. Future Tfustees musl be appointed by resolution of the Trustees. Greg lan Topping 06.05.2026 Director For and on behalf of Thomas Egy£ll Tiusl Cvrpora#on Ll GA.. 5257352 1

At prg.8ent theré arè three Truslees. Ihe minimum allowed in the Trust Deed. with an unlimited maximum. The firsl Truslees are enlilled lo hold Offi￿ for life. Future Trustees musl be appointed by resolution of the Trustees. David Gregson lan Topping si£lio Direclor For and on behalf of Thomas Eggar Trust Corporation Ltd GA.. 5257352 1

THE GREGSON FAMILY FOUNDATION

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE GREGSON FAMILY FOUNDATION

I report to the trustees on my examination of the financial statements of The Gregson Family Foundation (the ‘charity’) for the year ended 31 December 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable 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:

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 financial statements to be reached.

Jordan Abbott BSc ACA

Carpenter Box Piper House 4 Dukes Court Bognor Road Chichester West Sussex PO19 8FX

13/05/2026 Dated: .........................

P•#9 5 GRE MILY F c+ Flx•d A•••ts In¥stmerts at v81 1.541.770.99 1.377,719.31 Cath 8t bar 9.2H.LI) 1,551,014.99 7.C11.60 1,384,780.91 S￿htieS 12 rf Crethlor Totsl 05%ts ¢￿￿Tent lithltts 11.620.00 1.549,394.99 11.536.(X)I 1.383.244.91 3.244.91 BalwK• •••t 31.1125 Unrostri¢d Restrthd 1.549.394.99 1,383.244.91 01.05.2026 .aott slor￿j on thetr behgwby 08￿d Grty Trustse Ion TopyTr3 ThNno$ Eggar fNst cotporab.on Limiteu nole8 cfi palles 7.13 part oftwe ¥oxunts.

THE GREGSON FAMILY FOUNDATION REGISTERED CHARITh NO.11713a1 Balance Sheet as at 31 December2025 31.t22J A5 at 31.12.24 Flxed Assets InvestmÈnts al vall 1,541.770. 1.3n,719.31 Cash at bank 244.tA) t,551,014.tya 7,061.60 1,384.780.91 Liabilitigg falling du8wthin 12 months c￿ditOrS Totsl assets less current habilit￿$ I1.620.￿) 1,549.394.99 11,536.001 1.383.244.91 Net Assets 1.549,394. 1.383,244.91 Fund Balance a5 al 31.12.25 Unresm¢tea RestrKted 1,ts4Y,dY4.W 1,J03,244.91 9,394. 1.383.244.91 The fina￿￿1 staternÈnts 3pprovpd by I￿. hnArd nftnJt￿< nn 06.05.2026 and syJngd m thoir bohalf hy David Greg8C Trugtee lan ToFFing Ttustcc Thcmas EgyarTrust Ccporat#)rs Limrted Trustee The notes pages 7-13 fotm part ofthese a0￿Ul￿.

P&90 6 THE GREGSON FAMILY FOUNDATION Is ERED CHARITY NO.1171351 Balanco Shest as at 31 D8comb8r 2 Not 3q.12.2S Asat31.12. Flxed As¥ets Inveslmenis atvalue 1.541,770.99 1.377,719.31 Curront A8S&t8 Cash al bank 9,244.00 1.651.014.99 7,061.60 1,384,780.91 LiabiliUe5 falllng due wlhln 12 monlf Credllors Total assets ￿8S ujrrenl IlablllU8S 11.620.001 1,549,394.99 11.536.001 1,383,244.91 Net Assets 1.549.394_99 1,383,244.91 Fund Balanc8as at 31.12.25 Unreslricled Reslrlcted 1,549,394.99 1.383,244.91 1,549,394.99 1,383,244.91 The finandal slalemtsnts were approved bylh8 board oflrustees on..4.15.' !lolG."..dnd $luned on IhÈir b8hall by DavW Greg$on Trus188 lan TopplThJ Trustee Thomas Eggar Tru51 CoipDralion Llmiled Truylee The noles on pages 7-13 form part of the% account$.

Page 6

THE GREGSON FAMILY FOUNDATION REGISTERED CHARITY NO.1171351

Statement of Financial Activities for the year ended 31 December 2025

Note
INCOME & EXPENDITURE
Total
Donations and Legacies
6
87,000.00
Gross investment income
5
26,563.23
Total Incoming Resources
£
113,563.23
Resources expended
Charitable Activities
9
51,183.09
Investment management costs
11
6,186.14
Total Resources Expended
£
57,369.23
Other Recognised Gains/(Losses)
Realised (losses)/gains on sale of investments
(1,014.87)
Unrealised (losses)/gains on investments
110,970.95
Net movement in funds
166,150.08
Fund balance brought forward
1,383,244.91
Fund balance carried forward 31.12.25
£
1,549,394.99		 Unrestricted
Funds
87,000.00
26,563.23
113,563.23
51,183.09
6,186.14
57,369.23
(1,014.87)
110,970.95
166,150.08
1,383,244.91
1,549,394.99
Year ended 31.12.25		 Restricted
Funds
-
-
-
-
-
-
-
-
-
-
0		 Total
86,000.00
24,998.39
110,998.39
63,277.03
5,535.07
68,812.10
(6,510.17)
102,716.56
138,392.68
1,244,852.23
1,383,244.91
Year		 Unrestricted
Funds
86,000.00
24,998.39
110,998.39
53,690.75
5,535.07
59,225.82
(6,510.17)
102,716.56
147,978.96
1,235,265.95
1,383,244.91
ended 31.12.24		 Restricted
Funds
-
-		 Restricted
Funds
-
-
-
9,586.28
-
9,586.28
-
-
(9,586.28)
9,586.28
-

None of the Charity's activities were acquired or discontinued during this fiscal period.

The Charity has no recognised gains or losses other than those dealt with in the Statement of Financial Activities.

The notes on pages 7-13 form part of these accounts.

Page 7

THE GREGSON FAMILY FOUNDATION

REGISTERED CHARITY NO. 1171351

Notes to the Accounts for the year ended 31 December 2025

1 ACCOUNTING POLICIES

The Gregson Family Foundation is an unincorporated charity, registered with the Charity Commission number 1171351. The registered address is

Riverside East, 2 Millsands, Sheffield, S3 8DT

1.1 ACCOUNTING CONVENTION

These accounts have been prepared in accordance with the charity’s memorandum and articles of association, the Charity’s Act 2011 and “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and UK Generally Accepted Accounting Practice as it applies from 1 January 2019. The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 not to prepare a Statement of Cash Flows.

The accounts are prepared in sterling, which is the functional currency of the charity.

The accounts have been prepared on the historical cost convention modified for the revaluation of investments. The principal accounting policies adopted are set out below.

1.2 GOING CONCERN

At the time of approving the accounts, the trustees have reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees’ continue to adopt the going concern basis of accounting in preparation of the accounts.

1.3 CHARITABLE FUNDS & FUND ACCOUNTING

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.

1.4 INCOMING RESOURCES

Incoming resources includes investment income, which is recognised when the charity has a legal right to the income.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Donations received by the charity are accounted for as and when they are received.

Page 8

1.5 GRANTS PAYABLE

Grants payable are debited to expenditure within the Statement of Financial Activities in the period to which they relate. Where a grant commitment is payable over a period of more than one year, a liability is recognised for the full amount of the constructive obligation unless conditions are attached to future payments such that the trustees effectively retain the discretion to avoid making such payments.

1.6 INVESTMENTS AND INVESTMENT INCOME

All investments are stated at fair value and the movement shown comprises both realised and unrealised gains and losses.

Realised gains or losses arising on the disposal of investments (together with provisions for diminution in value), are credited or debited to the Statement of Financial Activities, and subsequently transferred to Unrestricted Funds.

1.7 CHARITABLE ACTIVITIES

The cost of charitable activities consists of grants made.

1.8 COST OF GENERATING FUNDS

The cost of generating funds consists of investment management fees.

1.9 GOVERNANCE COSTS

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory independent examination and legal fees together with other overhead and support costs.

1.10 CASH AND CASH EQUIVALENTS

Cash and cash equivalents include deposits held at call with banks.

1.11 FINANCIAL INSTRUMENTS

The charity has elected to apply the provisions of Section 11 “Basic Financial Instruments” and section 12 “Other Financial Instruments Issues” of FRS 102 to all of its financial instruments.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which includes debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Page 9

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Accounts payable are classed as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

In the application of the charity’s accounting policies, the trustees are required to make judgements, 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 affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Page 10

THE GREGSON FAMILY FOUNDATION REGISTERED CHARITY NO.1171351

Notes to the Accounts for the year ended 31 December 2025

3. FIXED ASSET INVESTMENTS
Year ended
(Summary of pages 14 to 20)
31.12.25
Quoted investments
Market value brought forward
1,357,833.00
Portfolio cash brought forward
19,886.31
1,377,719.31
Additions
212,931.67
Increase/(Decrease) in portfolio cash
(3,428.10)
Disposals
(156,422.84)
Net unrealised gains
110,970.95
£
1,541,770.99
Quoted UK Investments
479,113.87
Quoted Non UK Investments
1,046,198.91
Cash held on portfolio
16,458.21
£
1,541,770.99
Historic cost of quoted investments
£
1,144,634.42		 Year ended
31.12.24
1,088,206.43
39,611.13
1,127,817.56
290,298.66
(19,724.82)
(123,388.65)
102,716.56
1,377,719.31
383,959.28
973,873.72
19,886.31
1,377,719.31
1,065,945.00
4. Investments that represent greater than 5% of the portfolio by Market Value
Holding
Quantity
Vanguard Funds Plc - S&P 500
1,145		 As at 31.12.25
111,085.04		 As at 31.12.24
102,652.11

Page 11

THE GREGSON FAMILY FOUNDATION REGISTERED CHARITY NO.1171351

Notes to the Accounts for the year ended 31 December 2025

5. GROSS INVESTMENT INCOME
Year ended 31.12.25
Net
Tax recoverable
Bank deposit interest
Barclays Bank Plc
173.66
-
Income from listed UK investments
16,697.89
-
Income from listed Non UK investments
9,230.81
-
Interest received from UK cash held on portfolio
Brewin Dolphin Limited
460.87
-
£
26,563.23
-
6. DONATIONS AND LEGACIES
Unrestricted
Total
Funds
David and Renee Gregson
87,000.00
87,000.00
£
87,000.00
87,000.00
7. CASH
Year ended
Year ended
31.12.25
31.12.24
Barclays Bank Plc
9,244.00
7,061.60
£
9,244.00
7,061.60
Year ended 31.12.25		 Gross
173.66
16,697.89
9,230.81
460.87
26,563.23
Restricted
Funds
-
-		 Year ended 31.12.24
Net
Tax recoverable
432.87
-
14,727.14
-
8,922.31
-
916.07
-
24,998.39
-
Unrestricted
Total
Funds
86,000.00
86,000.00
86,000.00
86,000.00
Year ended 31.12.24		 Gross
432.87
14,727.14
8,922.31
916.07		 Gross
432.87
14,727.14
8,922.31
916.07
24,998.39
Restricted
Funds
-
-

Page 12

THE GREGSON FAMILY FOUNDATION REGISTERED CHARITY NO.1171351

Notes to the Accounts for the year ended 31 December 2025

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
As at
31.12.25
Accrued expenses
Independent Examination fees
1,620.00
Grants payable
Manchester University
-
£
1,620.00
Year ended
31.12.25
9. CHARITABLE ACTIVITIES
Grants payable (note 12)
40,179.09
Share of Governance Costs (note 14)
11,004.00
51,183.09
Analysis by fund
Unrestricted funds
51,183.09
Restricted funds
-
£
51,183.09
10. GRANTS PAYABLE
BeeWell
20,979.09
Amazon Watch
-
Wouter Nolet Foundation
-
Manchester University
-
Windsor Leadership Trust
5,000.00
CSR (Creating Social Resilience)
4,200.00
PBE (Pro Bono Economics)
10,000.00
£
40,179.09
11. COST OF GENERATING FUNDS
Brewin Dolphin Limited
£
6,186.14
Year ended
12. GOVERNANCE COSTS
31.12.25
Irwin Mitchell LLP - Legal & Professional fees
9,270.00
Carpenter Box- Independent Examiners fees
1,704.00
Bank charges
30.00
£
11,004.00		 As at
31.12.24
1,536.00
-
1,536.00
Year ended
31.12.24
52,706.83
10,570.20
63,277.03
53,690.75
9,586.28
63,277.03
32,532.28
10,000.00
10,174.55
-
-
-
52,706.83
5,535.07
Year ended
31.12.24
8,779.20
1,776.00
15.00
10,570.20

Basis of Allocation: All of the governance costs are allocated to the charitable activity of grant making. Totalling £11,004.00 in 2025 (2024: £10,570.20).

Page 13

THE GREGSON FAMILY FOUNDATION REGISTERED CHARITY NO.1171351

Notes to the Accounts for the year ended 31 December 2025

13. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2025 (2024 nil).

Trustees expenses

There were no trustees' expenses paid for the year ended 31 December 2025 (2024 nil).

14. EMPLOYEES

There were no employees during the year (2024 nil).

15. RESTRICTED FUNDS

The income funds of the charity included funds comprising the following unexpended balances of donations and grants held on trust for specific purposes, these funds must be used for BeeWell projects.

BeeWell
£
16. Analysis of net assets between funds
Funds balances at 31 December 2025
are represented by:
Fixed Assets
Current Assets/(liabilities)		 Balance at
1 January 2024
9,586.28
9,586.28
Unrestricted
Funds 2025
1,541,770.99
7,624.00
1,549,394.99		 Incoming
Resources
-
-
Restricted
Funds 2025
-
-
-
Movement		 Resources
expended
9,586.28
9,586.28
Total
2025
1,541,770.99
7,624.00
1,549,394.99
in funds		 Balance at
1 January 2025
0.00
0.00
Unrestricted
Funds 2024
1,377,719.31
5,525.60
1,383,244.91		 Incoming
Resources
-
-
Restricted
Funds 2024
-
-
-		 Resources
expended
-
-
Total
2024
1,377,719.31
5,525.60
1,383,244.91
Movement in funds		 Balance at
31 December 2025
-
-

17. RELATED PARTY TRANSACTIONS

Thomas Eggar Trust Corporation Limited (Trustee) is a trust company wholly owned by Irwin Mitchell LLP. During the period Irwin Mitchell LLP provided professional services to the Charity amounting to £9,270.00 (2024: £8,779.20). At the balance sheet date, nil (2024:nil) was outstanding in respect of these fees.

Total donations of £87,000 (2024: £86,000) were received from trustees during the year without conditions attached.

David Gregson is also a Trustee of Pro Bono Economics. During the year there was a grant paid to Pro Bono Economics of £10,000 (2024: nil)

Page 14

THE GREGSON FAMILY FOUNDATION REGISTERED CHARITY NO.1171351

M
Adobe Inc
41 Shares
41 Sold 17.07.2025
-
Alphabet Inc Cap Stk
200 Ordinary $0.001 shares
Amazon Com Inc
195 Ordinary $0.01 shares
Amphenol Corp CL 'A'
640 Com USD0.001 shares
100 Sold 12.12.2025
540.00
Artemis
Investment Funds ICVC US Smaller
5485 GBP Acc
Ashstead Group
365 Ordinary £0.10 shares
Asml Holding
38 NV Euro0.09
Assa Abloy Ser'b npv
560 Units
Berkshire Hathaway Inc
151 Ordinary $0.0033 shares
Blackrock FM Ltd
9,500 European Dynamic Fd Inc		 arket value
31.12.24
14,552.13
30,219.10
34,146.45
35,477.12
18,122.25
21,318.00
13,219.92
54,631.65
27,336.25		 Acqusitions
21,128.22		 Sche dule of Investments and Income for the year ended 31 December Unrealised
M
Gains/(Losses)
16,320.88
(683.83)
24,319.90
2,828.61
441.65
9,253.20
2,992.91
1,796.33
4,387.57
2025		 arket Value
31.12.25
46,539.98
33,462.62
54,253.72
23,956.83
18,563.90
30,571.20
16,212.83
56,427.98
31,723.82		 Net Dividends
Amount
26.12
f
26.21
f
26.12
f
26.60
f
72.95
f
69.42
f
65.89
f
66.57
f
105.70
194.96
40.57
f
50.48
f
44.82
f
45.41
f
89.92
f
93.21
f
220.37		 Date Paid
17.03.2025
16.06.2025
15.09.2025
15.12.2025
08.01.2025
09.04.2025
09.07.2025
08.10.2025
07.02.2025
10.09.2025
19.02.2025
06.05.2025
06.08.2025
06.11.2025
30.04.2025
14.11.2025
30.04.2025		 Tax
Recoverable
Gains/(Losses)
Disposals
on Disposal
11,011.14
(3,540.99)
9,958.92
4,415.62

Page 15

THE GREGSON FAMILY FOUNDATION

REGISTERED CHARITY NO.1171351

M
BNY Mellon Fund Managers Limited
20,400.000 Global Income U GBP Dis
7,200.000 Bought 23.04.2025
27,600.00
BNY Mellon Fund Managers Limited
21,200 Asian Income U GBP Dis
9,100 Bought 23.04.2025
30,300.00
BP
2,575 Ordinary USD0.25
Broadcom
Inc Com USD0.001
82 Bought 11.06.2024
Brown & Brown Inc
275 Common USD0.10
Coca-Cola Co Com
425 USD 0.25 shares
Compass Group Plc
800 Ordinary £0.1105 shares
Copart Inc
335 Common USD0.0001
325 Bought 17.07.2025
660.00
Croda Intl
145 Ordinary £0.10609756 shares
145 Sold 11.06.2024
-		 arket value
31.12.24
41,616.00
25,374.28
10,119.75
22,393.25
21,120.25
21,296.00
15,345.35
4,908.25		 Acquisitions
14,307.84
10,222.94
15,179.05
11,212.84		 Sche dule of Investments and Income for the year ended 31 December Unrealised
M
Gains/(Losses)
7,943.86
6,648.54
1,024.85
5,920.22
(6,098.68)
968.96
(2,384.00)
(7,348.18)
2025		 arket Value
31.12.25
63,780.84
42,162.45
11,144.60
21,099.27
16,294.57
22,089.21
18,912.00
19,210.01		 Net Dividends
Amount
250.17
269.85
614.89
406.87
163.32
167.72
495.45
314.93
159.03
151.91
159.50
160.66
30.22
f
30.55
f
33.35
f
27.78
f
25.96
f
26.00
f
29.29
f
142.22
f
133.53
f
136.73
f
137.30
f
251.36
133.60
91.35		 Date Paid
28.02.2025
30.05.2025
29.08.2025
28.11.2025
28.02.2025
30.05.2025
29.08.2025
28.11.2025
28.03.2025
27.06.2025
19.09.2025
19.12.2025
30.06.2025
30.09.2025
31.12.2025
12.02.2025
21.05.2025
20.08.2025
12.11.2025
01.04.2025
01.07.2025
01.10.2025
15.12.2025
27.02.2025
31.07.2025
28.05.2025		 Tax
Recoverable
Gains/(Losses)
Disposals
on Disposal
86.86
E
83.31
E
4,604.15
(304.10)

Page 16

THE GREGSON FAMILY FOUNDATION REGISTERED CHARITY NO.1171351

M
Diageo
600 Ordinary £0.28 shares
Experian plc
725 Ordinary $0.10 shares
Fidelity Investment Services (UK) Limited
25,800 Moneybuilder Income I GBP
Fidelity Funds li Inst Asia Pacific Excl. Japan USD Ac
5,180 Units
7,350 Bought 24.06.25
12,530.00
First Sentier Investments (UK)
10,670 Stewart Inv Asia Pac Ldrs B
Glaxosmithkline
932 Ordinary £0.3125 Shares
Haleon Plc Ord GBP0.1
4540 Bought 09.07.2025
Intercontinental Exchange Grp Inc
120 Common USD0.01
55 Bought 23.04.2025
175.00
Intercontinental Hotels Group
340 Ord GBP0.208521303
Intuit Inc
55 Common USD0.01
55 Sold 12.12.2025
-		 arket value
31.12.24
15,225.00
24,976.25
20,570.34
9,886.03
34,731.92
12,549.38
14,272.32
33843.60
27591.09		 Acquisitions
13,953.98
16,789.06
6,707.50		 Di Schedule of Investments and Income for the year ended 31 D Unrealised
M
Gains/(Losses)
(5,604.00)
(594.50)
312.18
3,742.32
511.09
4,454.96
226.86
91.79
1,720.40
ecember 2025		 arket Value
31.12.25
9,621.00
24,381.75
20,882.52
27,568.51
35,243.01
17,004.34
17,015.92
21,071.61
35,564.00		 Net Dividends
Amount
188.88
287.46
114.41
228.60
101.01
88.44
58.75
88.78
87.69
88.47
95.74
84.88
80.24
87.28
85.22
76.57
5.67
96.90
16.96
62.54
294.98
139.80
149.12
149.12
149.12
99.88
37.89 f
51.95 f
53.03 f
52.56 f
292.40
147.22
39.71 f
36.17 f
36.18 f
41.66 f		 Date Paid
24.04.2025
04.12.2025
07.02.2025
18.07.2025
24.01.2025
26.02.2025
26.03.2025
25.04.2025
23.05.2025
26.06.2025
25.07.2025
26.08.2025
26.09.2025
24.10.2025
26.11.2025
24.12.2025
17.04.2025
18.07.2025
17.10.2025
31.03.2025
30.09.2025
09.01.2025
10.04.2025
10.07.2025
09.10.2025
18.09.2025
31.03.2025
30.06.2025
30.09.2025
31.12.2025
15.05.2025
02.10.2025
17.01.2025
18.04.2025
18.07.2025
17.10.2025		 Tax
Recoverable
Gains/(Losses)
sposals
on Disposal
6.36
E
7.46
E
27,714.08
122.99

Page 17

THE GREGSON FAMILY FOUNDATION REGISTERED CHARITY NO.1171351

M
Ishares li PLC
2423 Core UK Gilts Ucits
Ishares
Physical Gold
310 Bought 23.06.2025
Jupiter Unit Trust Managers
15,755.44
Strategic Bond X GBP Dis
15,755.44
Legal & General Group
6,545 Ordinary 2.5p shares
Liontrust Fund Partners LLP
1,646 UK Smaller Cos Inc
LVMH Moet Hennessy
32 EUR0.30 shares
32 Sold 11.06.2024
-
Magnum Ice Cream
83 Spin-off Unilever
McDonald's Corporation
110 Ordinary $0.01
Mercantile Investments Trust Plc (The)
13,199 Ordinary £0.025 shares
Microsoft Corp
90 Com $0.00000625 shares		 arket value
31.12.24
11,545.60
12,498.79
15,040.41
29,266.21
16,809.38
25,452.24
31,413.62
30,278.88		 Acquisitions
6.60 E
15,138.85
855.12		 Sche dule of Investments and Income for the year ended 31 December Unrealised
M
Gains/(Losses)
172.70
4,129.20
499.45
2,100.95
(1,848.38)
128.77
(457.96)
2,573.81
2,080.38
2025		 arket Value
31.12.25
11,724.90
19,268.05
12,998.24
17,141.36
27,417.83
977.33
24,994.28
33,987.43
32,359.26		 Net Dividends
Amount
126.97 f
126.72 f
142.96 f
138.35 f
6.60 ERI
192.15
159.93
202.43
151.13
1,005.31
400.55
489.27
152.85 f
127.28 f
121.51 f
121.13 f
129.60 f
197.99
448.77
204.58
204.58
49.04 f
46.71 f
46.77 f
51.97 f		 Date Paid
26.02.2025
29.05.2025
27.08.2025
26.11.2025
30.04.2025
31.03.2025
30.06.2025
30.09.2025
31.12.2025
05.06.2025
26.09.2025
30.06.2025
28.04.2025
15.12.2025
17.03.2025
16.06.2025
16.09.2025
15.12.2025
03.02.2025
16.05.2025
01.08.2025
03.11.2025
13.03.2025
12.06.2025
11.09.2025
11.12.2025		 Tax
Recoverable
RI
 Gains/(Losses)
Disposals
on Disposal
12,915.95
(3,893.43)
6.56
F

Page 18

THE GREGSON FAMILY FOUNDATION

REGISTERED CHARITY NO.1171351

M
Montanaro European Smaller Cos Plc
13,650 Ordinary 5p shares
Morgan Stanley Investment Fund Mgmt Asia Opportunity J USD
920 Accumulation units
National Grid Ord GBP
1,420 Bought 16.12.2025
Nestle CA
235 CHF0.10 (Regd) shares
235 Sold 07.07.2025
-
Novartis Ag
260 CHF0.50 (regd)
Relx Plc
970 Ordinary £0.1444 shares
Ruffer Investments Red Ptg
4,750 New Ordinary £0.01 shares
Scottish Mortgage Inv Trust
5,360 Ordinary £0.05 shares
Smithson Investment Trust Plc
1,920
Ordinary 1p shares
1,920
Sold 23.05.2024
-
Ssga SPDR ETFS E I SPDR S&P US Div Aristocrats
735 Units
735 Sold 21.02.2025
-
Stryker Corp
65 Common Stk USD0.10
Taiwan Semiconductor Manufacturing Spon
75 Bought 15.12.2025
Texas Instruments Inc Com USD1.00
172 Units		 arket value
31.12.24
19,178.25
24,915.44
15,498.49
20,312.14
35,201.30
12,730.00
51,188.00
28,492.80
42,810.08
18,680.01
25,742.67		 Acquisitions
117.36 E
15,983.60
16,363.57		 Sche dule of Investments and Income for the year ended 31 December Unrealised
M
Gains/(Losses)
3,549.00
(457.61)
225.70
6,427.34
(5,907.30)
1,235.00
12,381.60
(1,695.48)
580.96
(3,557.91)
2025		 arket Value
31.12.25
22,727.25
24,575.19
16,209.30
26,739.48
29,294.00
13,965.00
63,569.60
16,984.53
16,944.53
22,184.76		 Net Dividends
Amount
40.95
131.04
117.36 ERI
420.98 f
515.87 f
434.56
189.15
135.38
f
159.13
f
149.01
85.76
11.14
36.95
f
34.68
f
35.04
f
35.06
f
157.53
f
149.05
f
147.47
f
157.30
f		 Date Paid
22.01.2025
07.08.2025
24.04.2025
13.03.2025
19.06.2025
11.09.2025
04.04.2025
24.10.2025
10.07.2025
12.12.2025
01.05.2025
31.01.2025
30.04.2025
31.07.2025
31.10.2025
11.02.2025
13.05.2025
12.08.2025
12.11.2025		 Tax
Recoverable
RI
 Gains/(Losses)
Disposals
on Disposal
17,039.66
1,541.17
28,030.50
(462.30)
43,916.25
1,106.17

Page 19

THE GREGSON FAMILY FOUNDATION

REGISTERED CHARITY NO.1171351

M
The Renewables Infrastucture Plc
19,240 Ordinary NPV shares
Thermo Fisher Scie
40 Com USD1 shares
Trojan Fund (formerly Link Fund Solutions Ltd)
7,810 S Inc Nav
4,200
12,010.00
TR Property Investment Trust
4,325 Ordinary £0.25 shares
Unilever Plc
418 Ordinary £0.031111 shares
-418 Split with Magnum
371 Split
371.00
UK (Gov of) 4.25% Stk 07/12/2027
44,800 GBP100
14,500 Bought 23.04.2025
59,300.00
Vanguard Funds Plc S&P 500 ETF
1,145 Shares
Vanguard Funds Plc FTSE 100 UCITS ETF GBP DIS
604 Purchased 21.06.2023
140 Purchased 23.04.2025
744.00
Visa Inc Com Stk
100 Ordinary $0.001 shares		 arket value
31.12.24
16,507.92
16,609.48
26,071.34
13,515.63
19,010.64
44,923.20
102,652.00
21,420.86
25,225.69		 Acquisitions
14,110.32
(855.12)
14,943.59
5,167.57
29.15 E		 Sche dule of Investments and Income for the year ended 31 December Unrealised
M
Gains/(Losses)
(3,251.56)
622.21
2,955.86
194.62
(100.00)
127.02
8,433.04
5,543.68
847.85
2025		 arket Value
31.12.25
13,256.36
17,231.69
43,137.52
13,710.25
18,028.75
59,993.81
111,085.04
32,161.26
26,073.54		 Net Dividends
Amount
359.31
f
363.16
f
363.16
f
363.16
f
10.84 f
11.03 f
10.90 f
10.86 f
385.74
244.36
443.31
157.80
162.48
163.69
164.19
1,260.13
1,260.12
280.68 f
260.67 f
255.09 f
253.95 f
213.51 f
298.86 f
270.89 f
170.91 f
29.15 ERI
39.28
f
36.98
f
37.38
f
43.03
f		 Date Paid
31.03.2025
30.06.2025
30.09.2025
31.12.2025
15.01.2025
15.04.2025
15.07.2025
15.10.2025
31.03.2025
10.01.2025
30.07.2025
12.12.2025
18.12.2025
28.03.2025
13.06.2025
12.09.2025
05.12.2025
9.06.2025
08.12.2025
02.04.2025
02.07.2025
01.10.2025
31.12.2025
02.04.2025
02.07.2025
01.10.2025
31.12.2025
31.12.2025
03.03.2025
02.06.2025
02.09.2025
01.12.2025		 Tax
Recoverable
RI
 Gains/(Losses)
Disposals
on Disposal
26.77
F

Page 20

THE GREGSON FAMILY FOUNDATION

REGISTERED CHARITY NO.1171351

Xtrackers (IE)PLC S&P 500 Equal Wedight UCITS
315 Bought 24.02.2025
£		 M arket value
31.12.24
1,357,833.00		 Acquisitions
21,569.63
212,931.67		 S che dule of Investment s and Income for the year ended 31 December Unrealised
Gains/(Losses)
244.12
110,970.95
d

ncome
2025		 M arket Value
31.12.25
21,813.75
1,525,312.78		 Net Dividends
Amount
70.19
f
68.63
f
72.56
f
25,928.70		 Date Paid
05.06.2025
04.09.2025
04.12.2025		 Tax
Recoverable
Disposals
155,407.97
 Gains/(Losses)
on Disposal
-1,014.87
A = Accumulated dividen
E = Equalisation payment
ERI = Excess reportable i
0.00