Docu6lgn Envelope ID.. 676A58D&DgE4405E-AgBC-376260DFEFBF The Blakebank Trust Financial statements For the year ended 19 May 2025
D$9 EnvdDpe ID.. 676A580DgEM0sE-A9Bc-3762SODFCFBF The Blakebank Trust Contents Page Report ofthe Trustees, Independent Examiner's Report Statement of F5nancial Actlvlties Balance Sheet Notes to Accounts Schedule of grants io
DocuYAW Envelope ID.. s75A58DgE440sE-AgC-37626DDFEFBF The Blakebank Trust Report of the Trustees The trustees present their annual report and accounts for the year ended 19 May 2025. StNcture, Governance and Management The full name of the Charlty is The Blakebank Trust. The Trust was created and is governed by a Trust Deed dated 19 May 2020. The Charity reglstered number is 1189954, and its registered address is Garden Cottage, Greenrlggs, Underbarrow, Kendal, Cumbria, LA8 8HF. The Trust has been established to recelve and 5nvest donations glven for the purpose of distribution to other Charitable organisations as need arises. Slnce it was established the Trust ha5 recelved legacles and donations as shown in the accounts. Trustees The trustees who served durlng the financial year were.. Dr Hilary Frances Crowe Sarah Helen De Mars Dr r)anlel Butler Ellzabeth Hannah Kirsch Prlnclpal Alms and Oblectlves The Trust seeks to Invest glfts Snto the Trust and create addltlonal Income streams for distrlbutlon, Whllst the trustees do not have a prescriptlve policy towards grants, the emphasis Is placed on charltles involved in medlcal, educalion and welfare actfivities and the arts, in line with the settlor's wishes. Pag¢ I
Docusl9n Envelope ID.. 678AS8D9F44osF.A9Bc-376260DFEFBF The Blakebank Trnst Report of the Trustees Actlvltles and Financial performance The Charity has continued to invest donations with the aim of generating an income stream to support other UK reglstered charities. After making appropriate enquiries, the Trustee5 have a reasonable expectation that the Charity has adequate resources to contlnue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the fSn2ncial statemenL Further details regarding the adoption of the going concern basls can be found In the accountlng policies. The income avallable for dlstrlbution in the year to 19 May 2025 amounted to £25,589, after expenses of £20,718 were charged against unrestrlcted funds. The total grants aTnounted to £362,000 which were distributed to those charitable organisations Ilsted in these accounts. Shares wlth a market value of £1,285,857 were added by Hilary Crowe durln8 the year. Total assets of the Charity at 19 May 2025 amounted to £2,740,627 (2024 £1,755,019), whlch represents an increase of 56.16%. The trustees regard the performance of the portfolio as satisfactory in the light of the market conditions in the year. Flnanclal revlew It Is the Trustees, policy to aim to create reserves above three months runnlng costs. The level of reserves Is monilured and reviewed annually by the Trustees. The Trust Deed gives the trustees wlde powers of investment at thelr own discretion and does not impose any restrictlons Dn the way in which the Charity should operate or on the applicatlon of its funds. The portfolio of investments Ss managed by Cazenove Capital of l London Wall Place. London EC2Y SAU and Coutts. Rlsk Management The Trustees have assessed the malor rlsk5 to whlch the Charfty is exposed, In particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are In place to mitigate exposure to the major rlsks. The Trustee5 consider that the investment manager has an appropriate Investment strategy. Page 2
DocJJsign Envelope1. 676A58D9-09E4405E-ASBG376260DFEFBF The Blakebank Trust Report ofthe Trnstees Statement ofTrustee5' re5punsibilities The Trustees are responsible for preparing the Tru5tees' Report and the financial statements in accordance with the appllcable law and United KingdoTn Accounting Standards ( United Klngdom Generally Accepted Accounting Pracdeej. The law applicable to charltfies in England and Wales requires the Trustees to prepare financlal statements for each financial year whlch gives a true and fair view of the state of affairs of the charity and of its Incoming resources and applicatlon of resources, for that period. In preparing these financial statements the Trustees are required to: select suitable accountlng policles and then apply them consistently,. observe the methods and principles in the Charities SORP {FRS 102), make judgments and estimates that are reasonable and prudent; State whether applicable UK Accounting Standards (FRS 102) have been followed, 5ublect to any material departures dlsclosed and explalned in the financial statements,. prepare the financial statements on the going concern basis unless It Is inappropriate to presume that the charlty will continue Sn business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financlal posltlon of the charlty and enable that the flnancial statements comply with the Charities Act 2011, the Charity ( Accounts and Report.%) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charlty and hence taking reasonable steps for the prevenlion and detection of fraud and other Irregulllrlties. Public Beneflt In setting oblectlves and plannlng lor acllvltles, the 'l'rustees have given due con5ideratlon to general guidance published by the Charlty Commission relating to publlc beneflt, including the guidance 'Publlc benefit.. running a charity [PB2)'. Approved by the trustees and slgned on their behalf by.. FS Dr Hllary Frances Crowe (Chair of the Trustee5) Date: 11 I kv 2oif Pag¢ 3
DoCU9n Envdope ID.. 678A58DgQgE4405E-A96C-376260DFEF8F The Blakebank Trust Approval ofthe financial statements and independent examiner's report to the Tnjstees Forthe yearended 19 May 2025 I report on the accounts of the Blakebank Trust for the year ended 19 May 2025, which are set out on pages S to 10. Respectlve responslbllltles of trustee5 and examlner. The charity's trustees are responsible for the preparatlon of the accounts. The charlty's trustees consider that an audit Is not required for this year under sectlon IM {2) of the Charities Act 2011 (the Charities Act) and that an independent examination Is needed. It is my responsibility to examine the accounts (under sectlon 145 of the 2011 Act), to follow the procedures laid down in the general Directions Eiven by the Charity Commisslon (under sectlon 145 (5][b] of the Charities Act). and to stste whether partlcular matters have come to my attention. Basis of Independent Examlnerfs report My examinatlon was carried out in accardance with the general Directions given by the Charlty Comini5s5on. An examinatlon Includes a review of the accounting records kept by the charity and a comparison of the accounts presented wlth those records. It also includes conslderatlon of any unusual items or dlsc105ures in the actounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidencE that would be required in an audit, and consequently no opinion Is given as to whether the accounts present a "true and faSr" view and the report Is Ilmited to those matter5 set out in the statement below. Independent examlner's statement In connection with my examinatlon, no material matters have come to my attention: whlch give5 me reasonable cause to belleve that, in any material respecL the requirement - to keep accounting records in accordance with sectlon 130 ofthe 2011 Act., and to prepare accounts which accord with the accounting records and to comply wlth the accounting requirements of the 2011 Act have not been met; or to which, In my opinlon, attention should be drawn In order to enable a proper understanding of the accounts to be reached Timothy Gre Saffery LLP 71 Queen Victoria Street London EC4V4BE Date: IS FCA Page 4
Docuslon EnwloFe ID.. 676A58DWD9EH05E-A9BC-376260DFEFBF The BlakebankTrust Statement Of Fln8ndal Artlvldes For theyear ended 19 May 2025 Ntste 202S Total funds 2024 Total nds Unrestrlrted Expendable nds fund Income and expendlture Jncomlng Resources Income and endowmen, Endowments Gift aid received Inve5tmenr income Interest received 1.285,857 1,285,857 3,284 30,502 12,S21 1,332 164 368,939 3,284 30,502 12,521 46,307 37,895 Totsl 1,285.857 406.834 Resources expended Dlrecl charitable expertdlture: Grants other expendlture.. Management and admlnistration Total 362,000 362,000 Iso,000 382718 382,718 1£6.245 Net IncDme/(expendlture) and net movement In fund5 before galns and losses on Investments 336411 1.285 857 949 446 250,589 Net galnsl{losse$) on Inve$tmeAts Realised Unrealised Totsl Investment galns 17,376) 60,222 S2.846 116.684] [24,060) 164 407 164 407 36.162 Net movement In funds 1283,565) 1,269,173 985,608 414,996 Totsl (unds brou8htfoTward at 20 May 2024 1,755,019 1,755,019 1,340,023 Total fund5 cJrrled forward at 19 May 20ZS 1471454 1269 173 2 740 627 1755 019 Pag¢ 5
OocuFJgn Envelope10.' 876A58D&DgE4405E-AgBC-376260DFEFBF The Blakebank Trust Balance Sheet At 19 May2025 Page 2025 2024 Flxed assets Investments (at market value) 2 179,285 1,596 171 Current assets Cash 561,342 98,848 Debtor 60,000 Credltors Net current assets 561342 158848 Total assets less urrent liablltles 2 740,627 1755,019 Funds of the Charlty 2 740 627 1755019 As Trustees we approve these accounts Dr Hllary Francis Crowe Date.. Page 6
OoGvsign Env8lope ID.. 676A58D9-D9E4405E-A9BC-376260DFEFBF The Blakebank Trnst Notes to the accounts For theyear euded 19 May 20Z5 Accoundng Poliaes 1.1 AccountlnR convendon The financial statements have been prepared under the historic cost convention, with the exception of investments whlth are included at their market value. The accounts Ifinanclal statements) have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financlal Reportlng StaJ)dard applicable 5tL the UK and Republic of Ireland (FRS 102) issued on 16 luly 2014, as amended by Update Bulletin l in February 2016, the Financial Reporting Standard applicable in the United Kingdom and RepublIL of Ireland IFRS 102), the Charltie5 Act 2011 and UK Generally Accepted Practice as It applies from January 2015. The accounts [flnancial statements) have been prepared to give 3 'true and fair, view and have departed from the Chadtle5 IAccounts and Reports) Regulations 2008 only to the extent requlred to provide a 'true and fair view,. This departure has involved following Accounting and Reporting by Charities preparing their accounts In accordance with the Financial Repoi'tlng Standard applicable in the UK and Republic of Ireland IFRS 102) issued on 16 luly 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Pracbce effective from l April 2005 which has since been withdrawn. The Charity constitutes a public entity as defined by FRS 102. 1.2 Golng concern At the tlme of approvlng the financial ststements, the Trustees have a reasonable expectadon that the Trust has adequate resources to contlnue in operational existence for the foreseeable future. The Trustees contlnue to adopt the goSng concern basis of accounting In preparlng the finartclal statemen 1.3 Fund accoundng The charity maintains a General Fund. and an Expendable Endowment Fund, both ofwhlch are unrestrfcted funds whlch are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment Income, galns and losses are allocated to the approprlate fund. 1.4 Income All incorT)e LS recognised in the stateTnent of financial activities when the condlt5ons for receipt have been met and ihere is reasonable assurance ol receipL Investment income Is accounted for when receivable. 1.5 Dlrect charitable expendlture Direct charitable expenditure comprises grants. directly related to the objects of the charlty. Page 7
Docu$lgn Envelope ID.. 676A580WD9E4405E-A9BC-376260DFEFBF The Blakebank TTu5t Notes to the accounts Fortheyear ended 19 May 2025 1.6 Other expendlture Managelnent and admini51ratlon costs relate to expenditure incurred sn the management of the charity's assets, organi5ed administratlon and compliance with constitutional and statutory requlrement& 1.7 Investments Investments are stated at market value. Reallsed and unrealised galns and losses are shown in the statement of financial activldes. Grants 2025 2024 Grants made in year 362,000 150 000 Admlnlstradve expenses 2025 2024 Management and adminlstration.. Investment mana%ement fees Bank charRes 20,716 6,245 Informalfion regardlng Employees and Trustees There were no employee5 in the current year or prior year. None of the Trustees were remunerated for their servlces during the year, (2024 NIL). Page 8
Docuon Envelopa ID.. 676A580fvDOE405E.A9BC-376260DFEFBF The Blakebank Trust Notes to the accounts For the year ended 19 May 2025 Investments held as flxed assets 2025 2024 Market value at 20 May 2024 Additions at cost Addition of shares gifted by Hllary Crowe Dfisposals at opening market value Net unrealised investment gainslllosses) Market value at 19 May 2025 1,596,171 2,563,560 1,285,857 13,326,525] 1,215,870 1,452,943 {1.237,049] 164407 1,596,171 2 179.285 Cost at 19 May 2025 2.119,063 1431764 Taxatlon The trust is a reglstered charity and doe5 not irade for tax purposes. Charitsble Commltments Ai the balance Sheet date there were no commitments for future grants. Independent Examlner's remunerailon The Independent Examination fees are paid by the Trnstees and not borne by the TrusL Page 9
Dc*u$l9n Envdope ID.. 676A58D9F44OSE.A9Bc-3762G0DFEFBF The Blakebank Trust Schedule of grants For the year ended 19 May 2025 2025 2024 Grants Agape Ministries Ltd Amber Bee CIC Association of Girls and Women St Olave Birbeck College Catnbridge Literary Festlval Birmingham Royal Ballet Brain Tumour Research Cumbria Community Foundatlon Glassdoor Homeless Charity Grace Church Hampshire Hospitals Charity Hospice at Home West Cumbrla Hospice of St Mary of Furness Mission Aviation Fellowship Murray Edwards College Rock UK Adventure Centre Safe Families for Chlldren Springfleld Domestic Abuse Support in South Lakeland Teesside Hospice Care The Brltlsh and Foreign Blble The Parochlal Church Council of the Ecclesiastlcal Parlsh of St Kea, Truro The Salmon Youth Centre In Bermondsey The Shirley Community Chaplaincy (North East) Trinlty Church Salisbury West End Impact Wycliffe UK Limited 6,000 5,000 5,000 25,000 20,000 10,000 5,000 10,000 10,000 25,000 10,000 5,000 8,000 10.000 50,000 10,000 30,000 10,000 20,000 s,000 20,000 1,000 20,000 10,000 so,000 20,000 20,000 10,000 10,000 20,000 20,000 10,000 362,000 148,000 Other grants to institutions 362 000 150 000 Pag¢ 10