Charlty No. 117S627 The Areti Charitable Trust Trustees, Annual Report and Unaudited Financial Statements For The Year Ended 31 December 2025 An IndepeffldèTht mombei ¢t fr mha | bakertilly NTERNATIONAL
THE ARETI CHARITABLE TRUST CONTENTS Pag& Trustees. annual report Independent examiner's report to the trustees Statement of financial adivities Ba18nc8 sheet Notes lo the accounts 15
THE ARETI CHARITABLE TRUST TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The Iruslees have pleasure in presenting their report and the linanaal statements ol tho charity for the year ended 31 December 2025. Referenc8 and adminlstratlve detslls Registored charlty name The Areti Chari18ble Trust Charlty reglstratlon number 1175627 Reglsterad ofllce CIO Joseph A Jones & Co 6 Fenton Street Lancaster LA1 1TE The trustees The trustees who served the charily during the period were as follows.. P A Clarke R A Follows Sollcltors Joseph A Jones & Co 6 Fenton Street Lancaster LA1 1TE Independent examlner HA 14 Mannin Way Lancaster Business Park Lancaster Lancashire LA13SW Investment Managers Artorius Wealth Management Unit 3 Strands Barn Strands Farm Lanè Hornby Lancaster LA2 8JF Help lor Wealth Wyresdale Rd Lancaster L41 3JQ
THE ARETI CHARITABLE TRUST TRUSTEES, ANNUAL REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Background to the Charity The Aieti Charilgble Trust l.the Charity'l was created by Trust Deed on 26 August 2015, as amended by Deed dated 31 Oclober 2017. and registered with the Charity Commi58ion on 8 November 2017 with Charity Number 1175627. The principal object of The Areti CharItae Trust is to make grants in order lo givo disadvantaged children and young people opportunities lo experience and le8rn more about the natural word. Charltable obj8Ctlves The objectives of the Chaiity are lo advance in life and help young people, espeaally but not exdusively those living in the administrative area covered by Lancaster City Council, through.. al the provision andlor lacilitalion of recreational leisyre aclivilies provided in the interests of social welfare designed lo irnprove their conditions of life. espeaally bul not exclusively Ih05ewho have need by reason of their infirmity or disability. povety or soci81 or economic circumstsnw with a view to improving the conditions of life lor such persons.. bl the provision andlor laalitation ol support and activities which develop their skills, capacities and capabilities to enable them to P8rticip8le in society as mature and responsible individuals., 1 a(JVanMeI ol their education in the conservation. protection and improvemènt of th8 physical and natural environment. dl The Charity's strategy to achieving ils objectives is to Invest its incorne lo generate a retum that can allow the Tiustees to donate to various ¢harit8ble causes at their discretion in accordance with the charitable objects. The Trustees will measure the SucsS of the Charity by quantifying the sum of donations made to these causes. This is considered lo be both the Charity's short term and bng-term objective. Public benefit The Ch81ities Act 2011 requires charities to report on the public benefil of their aclivilies. The Trustees have had regard to the Charity Commission's guidgnce on public benefit and believe that an appreaation of the Charity's public benefit can be obtained from the review of its achievements and performanco, Structure, governance and management The Charity is governed by a Trust Deed dated 26 August 2015 and amended by Deed dated 31 October 2017, under the lerrns of which the Trustees operate. Ils charity registration number is 1175627. The activily of the Charity is determined by the Trustees and facilitated with the a5SlStance ol Joseph A Jones Solicitois, Lancaster. All decisions are made by the two Trustees. The Charity has no volunteers other than its Trustees. The Charity pays no remuneration to its Trustees and has no paid employees. There are no other volunteers to the Chaiily other than its Tiustees. Appointment ol new Trustees would be at the discretion of the existing Board and Ihere would be no remuneration for such a role. Investment pollcy The Investments held ty the Ch8fity and their perfoimanc$ is reviewed al each Truslee meeting Mrilh investment managers who may be instruoted lo carry out any recommended changes as to the investment inslrumÈnls. Th8 managers are instructed lo keep a baland portfolio to spread the risk and maximise catal giowlh wrthout jeopardising revenue income.
THE ARETI CHARITABLE TRUST TRUSTEES, ANNUAL REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Rlsk Management The Trustees consider and assess on an on-going basis Ihe major risks lo which the Charity may be exposed. The principal risk is ¢onsidered lo be exposure lo markets with the inveslmtsnl portfolio held. The Trustees have delegated fund management to Artorius Wealth Management who are experienced in this field which is considered lo miligale the risks associated with such investments lo an appropriate level. The performan¢¢ of the investments is regularly reviewed through Ttuslee Board meetings. Achlevements and performance The Trust continues lo make awards in Ilne wllh 515 prlorilies of engaging children and young people In the natural world- whether traditional outdoor activities or school-based initialives that embed outdoor learning. Financial review and reserves pollcy Al the end of the financial period tho Charity had total funds of £4,683,51512024.' £4,540,778). The nel increase in funds of £142,737 was after nel Investment gains of £170,786. Income was goneraled from investments of £147,151 and £137,377 has been donated lo good causes. The Charfty has Incurred £37,823 in other support Costs in the period. At the period end date, tho Charity held £846.167 12024-. £846,280) in cash funds and £3.833.641 12024.. £3,690,188) within its investment portfolio. both expected to generate future income for the Charity. There are no funds in deficit and no going concern uncertainties. The Charity has no formal resetves policy. Tho Trustees intend lo hold investments as capital and the proceeds of returns from the investments will thon be spent through charitable donations, as well as funding the operating costs of tha Charity. The nature of the Charity's operations me8ns that a reserves policy is not necessary. Plans for futuro parlods The Charity intends to donate lo further ¢harilable causes in accordance with the objectives of the Charity. There is not expected to ba a mal8rf8l change in direction of the Charity in the short or medSum term.
THE ARETI CHARITABLE TRUST TRUSTEES, ANNUAL REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Trustees, responslbllltie8 in relation to th• flnanclal statements The Trustees a responsible for preparing the Trustee5' Annual Report and the financial slaternents in accordance with applicable Low and United Kingdom Accounting Standards Iunitgd Kingdom Generally Accepted Accounting Praclicel. The law applica¥Ae to charities in England & Wales requires the Tiuslee5 to prepare finanaal statements for each financial period which give a Iiue and lair wew ol the state ol affairs ol the Charity. and ol the incotrTre and expendrture of the Charity, lor that period. In preparing these f5n8ncial statements, the Trustees are required lo.. select suitable accounting policies and then apply them consistently., obseNe the methods and princieS in the Charities SORP IFRS1021'. make judgements and eslim8les that are reasonable and prudenl., stale whether applicable accounting st8nd8rds have been followed, subied to any material departures disclosed and explained in the financial statements., prepare the financial ststements on the going conrn basis unless it is inappropriate to presume that the Charity wrill continue in operation. The Trustees are responsible lor keeping piopei accounting records that disdose wth reasonable accuracy 8t any time the financial position of the Charity and enable thern lo ensure th8t the fin8ncial statements comply with the Charity's governing document, the Ch8rilies Act 2011, the Statement of Recommended Practice.. A¢¢ounting and Reporting by Chaiilies preparing the accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic ol Ireland IFRS 1021. and UK Generally Accepted Accounting Practice. The Trustees, Report was approved on 2.0.-..4..- Ind was signed on behalf ol the Trustees by.. Ig k<rf/L P A Clarke Trustee R A Follows Trustee
THE ARETI CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ARETI CHARITABLE TRUST FOR THE YEAR ENDED 31 DECEMBER 2025 I report to the charity trustees on my examination of the accounts ol the charily for the year ended 31 December 2025 which are set out on pages 7 to 15. Responslbllltles and basls of report As the ¢harity's trustees you are responsible for the pparatIOn of the accounts in accordance with the requirements ol the Charities Act 20111'the Act'l. I report in respect of my examinatioll of the charity's acLounts carried out Und section 145 01 the Act and in carrying out my ex8mination I have followed all the applicable Oirections given by the Charity Commission under sectson 14515llbl ol the Act. Independent examlner's statement I h8ve completed my examinats'on. I confirm that no material mallers have come lo my attention in connection wth the examination gimng me cause lo believe that in any m81eri81 respe¢l'. accounting records were not kept in respect of the charity as required by section 130 of the Act,. (Y the accounts do not 3ccord wilh those records., or the accounts do not comply wth the applicable requirements concerning the form and conlentol accounts sel out in the Chaiities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and lair view, which is not a matter considered as part ol an independent examination. I have no cOnrnS and have come a¢ro8s no other matters in connection with th8 8xamin8tion to which 8tténtion should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Jack Steer BAIHonsl FCA Independent Examlner MHA 14 Mannin Way Lancaster Business Park Lancaster LA1 3SW
THE ARETI CHARITABLE TRUST STA TEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025 Unrèstrieted Restrlcted Total funds Total funds funds funds 2025 2024 Income from.. InStMentS 147,151 147,151 149,076 Total 147,151 147,151 149,076 Expendlture on.. Charitable acliiilies 175,200 175,200 140,752 Totsl 175,200 175,200 140,752 Net lexpenditurellincome before other recognlsad galns 128,0491 128,0491 8,324 Oth8r raeognised gains Realised110s5llgain on disposals of InStmentS Unrealised Ilossygain on rlUatIOn of inStmentS 24,360 24,380 16,959 146,426 146.426 2,543 Net movement in fund 142,737 142,737 27,826 Re¢on¢iliation of fund& Total fvnds iyoughl fotward 4,540,778 4,540,778 4,512,952 Total funds carried fOard 12 4,683,515 4,683,515 4,540,778 The notes on pages 9 lo 15 form part ol these financial statements
THE ARETI CHARITABLE TRUST BALANCE SHEET ASAT 31 DECEMBER 2025 2025 2024 Fixed assets InStmentS 3,833,641 3,e90,188 3,833,641 3,690,188 Current assots Debtois Cash al bank and in hand 10 8.782 846,167 7,226 848,280 852,949 853, Creditors.. amounls falling due within one year 11 13,0751 (2.9161 Nèt current assèts 849,874 850,590 Total assets less current liabilities 4.683,515 4,540,778 Net assets 4,683,515 4.540,778 Funds.. Restricted funds Unrestricted fvnds 12 12 4,683,515 4,540,778 Total funds 4.683,515 4.540,778 These accounts were approved by the Trustees and aulhorised for issue on the . 20 -Lt-I on their behalf by.. and are signed P A Clarke Trustee R A Follows Trustee The notes on pages 9 to 15 form part ol these financial 8tatement8.
THE ARETI CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng pollcles Legal fomi The Areti Charitable Tiust is a registered charity with charity number 1175627 established under a Trust Deed dated 26 August 2015 and amended 31 October 2017. The registered office af the charity, the nalure of its operations and its prineipal 8¢tiviti98 are all detailed in the Trustees, report ¥Mthin these financial slatemenls. The Charity meets the definition of a wblic benefit entity under FRS102. The financial statements have been prepared in acCOrd8n with Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (Charities SORP IFRS 10211. and the Charities Act 2011. The financial statements are prepared in sterling, which is the functional currency ol the charity. Monetary amounts are rounded lo the nearest £. The finanaal statements have been prepared on a going eoncern basis und8r the historical cost convention. The significant accounting policies applied in the preparation ol these financial statements are sel out below. These policies have been consistently applied to all peiiods presented. unless olherwise stated. Golng concem The trustees assess whether the use of going concem is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast signific8nt doubt on the ability of the charity to continue as a going concern. The tiustees have Qonsidered the position ol the charity and believe that it holds sufficient reserves to conts'nue in operation for at least 12 momths from approv81 ol the accounts, therefor8 th& going concern basis of accounts preparation is appropriate. Income Investment income is earned through holding assets for investment purposes, and through bank interest. It indudes dividends and Interest and is included when lh8 arnounts are received andlorearned by the Charity. Expenditure All expendilure is aeeounled for on an acuuals b8sis in the expense categories required by the SORP. Expendilure is recognised where there is a legal or constructive obligation to make payments to third parties. it is probable that the settlement will be required. and the amount of the obligation can be rneasured reliably. Costs are further allocated bebween the activities undertaken on a basis consistent with the use ol the iesources. Expditur include8 irrecoverable VAT. Charitable activities expenditure in¢ludes costs incurred in the delivery olthe charity's activities and seNices. It includes professional fees in maintaining the investment portfolio. The main expenditure for the Charity Is through mgking donations to good causes at the discretion ol the Trustees. in accordan with the Trust Deed.
THE ARETI CHARITAtsLE TRUST NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng pollcles Icontlnuedl Invèstmènts InveslmeTrls are recogni5ed initially at fair value which is normally the transaction pri excluding transaction costs. Investments are subsequently stated at lair value ol the shares which are publidy traded. The SOFA included the net gains and losses arising on revalu31ions 8nd disposals Ihioughout the period. Cash and cash equivalents Cash is a basic financial asset and include5 Cash and deposits held on call and on deposit with banks. Fund accountlng UnreStredrunds- General funds are available for use at the discretion of the Trustees in furtheran ollhe general oL4'eclives ol the charity. Designaledfunds- Designated funds are unrestricted funds s¢1 aside by the Trustees forpartiIar puiposes. Reslricted funds- Reslricted funds arise where there is a donor-imposed resliiction on the use of the funds. 01 the funds have arisen in response to an apwal lor a specified purp)se. Taxation HM Revenue & Customs considers The Areti Charitable Trust to be a charity and therefore they are entitled to exemption from tax allorded by Sections 478-469 01 the Corporation Taxes Act 2010 to the extent that income is applied exclusively for tharitable purposes. Flnanclal Instruments Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to eontraclual provisions of the instrument. Basic linan¢i81 assets are initl8lly mèasured at transgetion price and are subsequentty carried at amortised cost. Financial assets are assessed lor indicators of impairment at each reporting end date. The charity has no basic financia5 liabilities at the period end. Judgements and key sources of estimation uncertainty In the applicalion ol the Charity's accounting policies, the Tiuslees are required to make judgements, estimgtes and 85sumptions about the e2rrying amounts ol assets and liabilities that are not readily apparent from other sources. The eslimales and asswaled assumptions are based on historical experienc8 and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. In the opinion of the Trustees there have been no significant judgements made in the process of applying the 8bove 8ccounling poliaes. There have been no key assumptions concerning future and other key sources ol estimation uncertainty at the reporting date that have a significant risk ol causing a material adjustment to the carrying amounts of assets and liabilities within the nexi financial year. -10-
THE ARETI CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Income from investment8 Unrestricted Restricted funds funds Total 2025 Total 2024 Bank interest reCeible tliidends reCeId 29,096 118,055 29,096 118,055 28,887 120,189 147,151 147,151 149,076 Expendlture on charitable activlties Opportunities for young pèople Total 2025 Total 2024 Actlvlty Donations in accordance with Charlty obi8Cts Support ¢osts 137.377 37.823 137,377 37,823 102,376 38,376 175.200 175.200 140,752 Support Costs Total 2025 Total 2024 Professional fees In%E5lment management fees Olhei costs of in*stmenls Accountancy fees Bank charges Web5118 cosls 7.800 19,885 6.956 3.033 20,392 7,232 2,814 78 59 37,823 38,376 -11-
THE ARETI CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2025 Net income 2025 2024 Net Income 1$ slated after charglng.- dependent examination fee8 Independent examinetts remuneration other tax adSOry seNces 2,532 2,352 501 462 Staff costs and Trustèè remuneration The Charity has no em 0yeeS during the period and no individual, induding the Ttuslees, reiVed any remuneration. No expenses have been paid to Trustees during the period. Rèlated party transactions The Charity is considered to be underthe contiol of the two Trustees during the period. There are no reporting related party tran5actiOlls during the current year. Flxad asset Investments 2025 2024 Other investments at Valuatlon Balance brought foTwar(I Acquisitions at cost Receipts for sale of IntInentS Re8lised Ilossl 19ain on sale of inStmentS unalISed gain on inKe51ments M0Ment in cash held as part of instment portfolio 3,690.488 3,691,393 195,009 365,378 {223.2871 1374.3881 24.360 16.960 148.42fj 2.543 945 111,6981 Total invè5knients 3,833,641 3.6gO.188 Total nstments ¢(mprise the following typ8 of instments'. UK listed bonds Global listed bonds UK listed Equities Europe Excl UK equities Global listed eouities PrortY and altemati* instmentS Cash held 382,437 80,523 SOO,664 107,628 2,4SO,6Q4 271,984 39,811 289,374 78,903 557.873 97.244 2,359.586 268.342 38,866 Total Investments 3,833.641 3,690,188 -12-
THE ARETI CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 10 Debtors 2025 2024 Accrued bank interest 6,782 7,226 6,782 7.226 11 Creditors: amounts due thIn one year 2025 2024 Accruals 3,078 2.916 3,075 2.916 12 Analysls of funds: Current year Atl Jan 2026 At31 Inv'ment galns Income Expendllure Transfers 2025 Restricted funds Unreslricled fijnds 4,540.778 147,151 1175.2001 170,786 4,683,516 Totsl funds 4,640,778 147,161 1175,2001 170,786 4,683.616 13 Analysls of funds: Prlor year Atl Jan 2024 At31 Dec 2024 Inv'ment ualn$ Incorne Expenditure Tianslers Restricted funds Unre8tricted funds 4,512,952 149.076 1140.7521 19,502 4,640,778 Total funds 4,512,962 149,078 1140,7521 19,602 4,640,778 -13-
THE ARETI CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2025 14 Analysis of net assets between funds= Current year Flxeij asset Net current investments as8ets Total Restrlcted funds Unrestricted funds General fijnds 3,833.641 849,874 4,683.515 Total fun(15 3,833.641 849,874 4,683,516 15 Analysts of net assets between funds- Prior year Flxed asset Net current inve8tment8 0$8ets Totsl Restricted fund8 Unr88tricted fund8 General funds 3.690,188 850,590 4.540,778 Total funds 3.690,188 850,590 4,540,778 -14-
THE ARETI CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustees are eaSed to document the following donations which have been made during the ye8r. Donations 2025 Donations 2024 L8n¢a8hire Youth Challenge Sl Patricks Catholic Primary School. Morecambe Lancaster Boys and Girls Club Lancaster Road Primary School Less UK CIC Larksfoot CIC Westgate Primary School, Morècamb8 The Outward Bound Tnjst St Joseph Catholic Primary School The Marsh Community Centre Escape2Make Red Marsh Special School Lancashire Association of Boys & Girfs Clubs Poullon-le-sands Primary School Skerton Sl Luke's CE Primary Schoot Sl John's Hospice Yealand Church of England Primary School Sandylands School Ryelands Primary School Willow Lane CP School Castle View Primary Academy TNmacar Primary School Amside Sailing Club Lancaster and District Festi1 Ltd Rewilding Roots Sl Mary's Catholic Primary School Wilson's Endowed School Fund More¢8mbe Bay Partnership Skèrton Community Association 7.890 8,188 530 2,815 1,372 24,000 17,932 1,224 2,580 726 5,279 15.000 6.000 2,000 444 532 6.560 150 4.880 814 522 1,028 2,580 3,927 9,300 s,000 340 381 3.000 3.056 55.000 735 711 43,652 1,805 137,377 102,376 -15-