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2025-12-31-accounts

Docusign Envelope ID: 345DBE89-43D6-8DB4-834A-ACAA2E6F23FC

Charity number: 1191655

WRIGHT'S CLOCK LAND

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Docusign Envelope ID: 345DBE89-43D6-8DB4-834A-ACAA2E6F23FC

WRIGHT'S CLOCK LAND

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1 - 2
Trustees' report 3 - 7
Trustees' responsibilities statement 8
Independent auditors' report on the financial statements 9 - 13
Statement of financial activities 14
Balance sheet 15
Statement of cash flows 16
Notes to the financial statements 17 - 33

Docusign Envelope ID: 345DBE89-43D6-8DB4-834A-ACAA2E6F23FC

WRIGHT'S CLOCK LAND

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025

Trustees Mr D M Gant, Steward
Rev A Goodman
Mr D Grove
Mrs R R Kindred (Resigned)
Mrs P J Seddon (Resigned)
Mr H A J White (resigned 13 January 2026)
Dr A Whitehead
J A Eldridge (Appointed 8 July 2025)
Mr S D Thorpe (Appointed 8 July 2025)
H M Callingham (Appointed 8 July 2025)
H M Kingsley (Appointed 8 July 2025)
Dr T D Wright (Appointed 8 July 2025)
Mr J E Solly (Appointed 26 March 2026)
Charity registered
number
1191655
Principal office
7A Cow Lane
Fulbourn
Cambridge
CB21 5HB
Independent auditors
PEM Audit Limited
Registered Auditors
Salisbury House
Station Road
Cambridge
CB1 2LA
Bankers
Lloyds Bank Plc
3 Sidney Street
Cambridge
CB2 3HQ
Solicitors
Tees Law
Titan House
Castle Park
Cambridge
CB3 0AY
Investment manager
McInroy & Wood
Easter Alderston
Haddington
EH41 3SF
Investment manager
CCLA Investment Manager
Senator House
85 Queen Victoria St
London
EC4V 4ET

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Docusign Envelope ID: 345DBE89-43D6-8DB4-834A-ACAA2E6F23FC

WRIGHT'S CLOCK LAND

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Land Agents Cheffins 1-2 Clifton Road Cambridge CB1 7EA Charity Law Adviser Keystone Law 48 Chancery Lane London WC2A 1JF Investment advisers Yoke and Company 6 Normanhurst Road London SW2 3TA Independent Advisor for Nick Childs Windmill project The Nicholas Childs Partnership 14 The Haven Fulbourn Cambridge CB21 5BG

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Docusign Envelope ID: 345DBE89-43D6-8DB4-834A-ACAA2E6F23FC

WRIGHT'S CLOCK LAND

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

The Trustees present their annual report together with the audited financial statements of Wright's Clock Land CIO for the year 1 January 2025 to 31 December 2025. The Trustees confirm that the Annual Report and financial statements comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

INTRODUCTION

In this report the expressions "we", "us", "our" refer to the Trustees.

All dates in this report are in 2025, unless shown otherwise.

All meetings were held face to face. Some decisions were made via email exchanges, the result of all such decisions were confirmed at the subsequent meeting. Minutes were taken and approved at all meetings.

TRUSTEES

David Grove was elected as Deputy Steward.

Penny Seddon and Rachel Kindred decided not seek re-appointment after their 5 year term ended. David Sheppard sadly died.

Trustees decided to increase the number of Trustees to 10 (Quorum 6).

We advertised widely in the village for new potential Trustees. David Gant (Steward) and David Grove (Deputy Steward) interviewed 7 suitable applicants (from 10 total applicants) and selected 5 – the requisite number. They recommended these 5 to a meeting of the remaining 5 trustees, who agreed to elect them all. The gender balance was maintained (5/5).

Joy Eldridge, Stuart Thorpe, Helen Kingsley, Tom Wright and Heather Callingham were elected Trustees. They were welcomed to their first meeting on 29 July 2025.

The 5 other Trustees of the CIO are the same as at end 2024. They are:

David Gant (Steward) David Grove (Deputy Steward Anita Whitehead Hugo White Rev. Alice Goodman (Ex officio)

Appointment and recruitment of trustees

As indicated above, we agreed (before the recruitment process above) to change the previous process in order to widen the range of Trustees. Rather than existing Trustees recommending candidates, the post(s) of Wright’s Trustee would be widely advertised in the village. The Steward and Deputy then to decide which to interview, interview those, and finally make recommendations to the existing Trustees, giving their reasons. A vote to then be taken.

STATEMENT ON PUBLIC BENEFIT

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

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WRIGHT'S CLOCK LAND

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

OBJECTIVES AND ACTIVITIES

Policies and objectives

The CIO’s Charitable Objects, registered with the Charity Commission on 14 April 2020 are:

  1. The maintenance, cleaning, repair, alteration, renewal and improvement of the Clock and Bells and their associated equipment and the Tower containing them of the Parish Church of St Vigor with All Saints at Fulbourn Cambridgeshire and subject thereto

  2. The maintenance, cleaning, repair, alteration, renewal and improvement of any other parts of the entirety of the buildings, fabric, fittings, furnishings facilities and equipment and the churchyard, graves, monuments and boundary walls of the said Parish Church

  3. The advancement for the public benefit in the parish of St Vigor with All Saints Fulbourn of any or all of those purposes which are recognised as Charitable (according to the law of England and Wales) as the Trustees shall from time to time think fit by making grants both to organisations (including the Parochial Church Council of St Vigor with All Saints) and to individuals in the parish of St Vigor with All Saints Fulbourn.

Activities

A Business Continuity Plan was put in place.

We bought 35.4 Hectares of agricultural land at New Shardelowes Farm, for £1.86 million, adjacent to Fleam Dyke and close to Fulbourn Fen. This was a rare opportunity. The objective being for this land to be then leased to and managed by the Beds, Cambs, Northants Wildlife Trust as an extension of the existing Fleam Dyke reserve. Besides fulfilling our Charitable objects this land also diversifies our investments.

We bid £2.35 million for a portfolio of properties, nos. 2 to 16 Fulbourn High Street. This would fulfil our Charitable objects and also diversify our investments. Via the Trustees the village would own half of the High Street. This bid was accepted but the purchase has not yet been completed. Exchange of Contracts is likely to be in February 2026

Appointments

Our accountants, solicitors, charity law adviser, land agents, bankers, Independent Windmill Adviser are the same as in 2024.

Accountants and Auditors: Peters, Elworthy and Moore (PEM); Solicitors: Tees Law; Charity Law adviser: Robert Meakin (Keystone law); Land Agents: Cheffins; and Bankers: Lloyds; Independent Windmill Adviser: Nick Childs (Quantity Surveyor, The Nicholas Childs Partnership).

Investment

Our Stock Exchange / Bond investments continue to be approximately evenly split between the CCLA Ethical Investment Fund (c£9m) and McInroy & Wood in a segregated portfolio (c£7m) There was always some £400k in the Lloyds Online Banking for Business Account, available for grant making.

Going Concern

Trustees considered this at their November 2025 meeting (Minuted). Maximum likely planned future spending c £5m Minimum £10m remaining, plus real estate assets. Therefore, Trustees unanimously agreed Wright’s CIO is a ‘Going Concern.’

5 Year Review

As 2025 was the 5th year since Wright’s Clock Land CIO began operating, we undertook a fundamental review of our activities. We agreed that the existing re-active approach ( waiting for Grant Applications and dealing with

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WRIGHT'S CLOCK LAND

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

them) was too limited. Therefore, a more pro- active approach was adopted, involving going out to the village, finding what people wanted, and acting accordingly.

The new method of appointing Trustees (see above) and the subsequent appointment of 5 fresh Trustees initiated this approach. The background of the resulting group of 10 Trustees was considerably wider. These appointments injected new energy and initiative into the group.

As part of this pro-active approach a gazebo was put up at the Fulbourn Arts Winter Festival to advertise and explain Wright’s CIO, various publicity materials were purchased for this.

Tenancy

The Year to Year Farming Business Tenant (FBT) with G T Lacey and sons of Queens Farm, Wilbraham Road Fulbourn (Commenced on September 2023) continued. This is for £700 /year.

Conflict of interest

Financial conflict of interest is straightforward. Conflict of loyalty can be problematic. One Trustee – Alice Goodman (Rector), is chairperson of St Vigors PCC (Parochial Church Council). This meant she had Conflict of Loyalty whenever the PCC made applications for grants. She abstained from discussion or voting whenever the PCC applied for a grant.

REPORT ON GRANT MAKING

During 2025, the Trustees agreed to a great variety of applications, some being “one-offs” and others recurring for 3 years. Not all of these resulted in actual payments in 2025.

The applications accepted were, in no particular order:

Fulbourn Forum Tree Planting
Townley Hall Centennial celebrations, part. garden
Fulbourn Swifts Group Nest box installation
Fulbourn Royal British Legion E day 80th anniversary
Fulbourn Arts Hiring/heating fees - use of St Vigors Church
Fulbourn Bowls Club Storage hut
Fulbourn Pickleball Club Kit, training, tennis court marking
Fulbourn Primary School Wed pm reopening
Fulbourn Primary School Enrichment clubs, out of school hours
Fulbourn Primary School Sensory room
Fulbourn Primary School Interim capacity staff provision
St Vigors PCC Church Organ Reordering
Edmund Trust Debrillator and training, Hydrotherapy pool
St Vigors PCC Porch roof repair
Head to Toe Fulb Hosp Arts therapy resources
Men In Schools Storage, equipment
Fulbourn Scouts Scout Jamboree 2027. 3 scouts

FINANCIAL REVIEW

Investment income from listed investments increased to £515,513 during the year (2024: £474,528). The Charity made 17 grants in the year totalling £835,069 (2024: 18 grants totalling £571,252) before any discount adjustment or write backs. Further details are included in Note 8.

Management fees of £59,939 (2024: £38,401) were incurred for professional management of investment funds.

£19,272 was paid for clock electrication works (2024: £800 for clock winding and a further £4,068 for electric

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Docusign Envelope ID: 345DBE89-43D6-8DB4-834A-ACAA2E6F23FC

WRIGHT'S CLOCK LAND

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

works. Support costs amounted to £57,357 (2024: £40,133).

The loss on investments amounted to £358,878 (2024: gain of £239,173).

At the year end, the Charity had unrestricted and designated funds totalling £17,782,860 (2024: £18,166,724).

The Charity does not carry out fundraising activities.

RISK REGISTER

No changes were made to the Risk Register formally agreed in early 2023.

INVESTMENT POLICY

There was much discussion over a revised Investment Policy Statement. This should include all aspects of Investment:

Investment objective & investment approach Permissible investments Attitude to investment risk and appetite for risk Ethical considerations

We agreed this was overdue and much needed. However this revision, though underway, was not completed. Therefore the paragraphs below : A] to F] relate to the existing , unrevised statement and policies. We realise this is an unsatisfactory situation and intend to remedy it in early 2026.

A] Investment Policy Statement for Wright’s Clock Land CIO

This Investment Policy has been formed to enable the trustees to appoint professional managers to provide services to the trustees for the management of its investments. The Investment Policy will be reviewed by the trustees periodically (not less than every three years N.B.)) and incumbent managers will be made aware of any changes which would affect their approach to investment.

The initial £18.5 million has been designated 70% (£13 million at the outset) as capital funds and 30% (£5.5 million at the outset) as an expendable income fund. The capital funds will be held in perpetuity and only the annual returns generated from them will be spent on charitable purposes. The capital funds have a very long term investment horizon. The expendable income funds can be spent on charitable purposes and the trustees will maintain a plan for their future deployment which will determine the period(s) over which these sums are required and the requirement for future liquidity. If it is not required for designated projects, the excess expendable income will be invested in line with the capital funds and will contribute to the annual expendable income.”

B] Investment objective & investment approach

The objective is to preserve the spending power (real value) of the capital funds over the long term, and to replace the annual withdrawal of spendable funds.

The trustees have adopted a total return approach to investment. The trustees will operate a spend rule to determine the long-term sustainable rate of consumption from annual total return.

The initial spend rule will be 3.25% (the spend rate) of the market value of the endowment, calculated as the average over 36 quarterly valuation points. The value created under this spend rule will be allocated to the income account from the unapplied total return.

The trustees will appoint professional investment managers who will have discretion to make and implement day-to-day investment decisions for that part of the investment funds for which they are responsible. The overall strategic approach will be agreed with the trustees at the outset of their appointment and will be reviewed with

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TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

the trustees annually.

C] Permissible investments

The trustees will accept investment in any asset type or investment product that falls within the scope of permissible investments identified by the Charity Commission in its Guidance: Charities and investment matters: a guide for trustees

D] Attitude to investment risk and appetite for risk

The trustees accept that to achieve the long-term investment returns which they seek, it is necessary to accept certain market risks, particularly volatility, as investment cycles change. As a general principle, the trustees believe that liquid, traded assets are the most appropriate for the capital funds.

E] Ethical considerations

The trustees consider that investing in assets where the social, environmental and governance policies and practices of a company or the entity behind an investment (such as a sovereign state) are taken into consideration is both appropriate to the charity’s ethos and should not impair the overall investment outcomes. The trustees require the discretionary investment managers appointed to operate an Environmental, Social and Governance (ESG) approach to investment selection and portfolio construction. The trustees recognise that there are various approaches to ESG investment and will take this into account in appointing and monitoring each discretionary manager."

Performance reporting and review of investment managers

The trustees require a quarterly valuation and yearly report from investment managers on the strategic and tactical rationale for the asset mix and any changes made since the last report. Not less than annually, the trustees expect to meet the individual or team directly responsible for investment decision making.

Revised need for Independent Review of Investments

As agreed in 2022, Guy Davies of Yoke provided an annual report.

AUDITORS

Our auditor, Peters Elworthy & Moore, transferred its audit registration and therefore that part of its business to a newly incorporated limited company, PEM Audit Limited, on 1 September 2025. Accordingly, Peters Elworthy and Moore formally ceased to be the Charity’s auditor with the Trustees duly appointing PEM Audit Limited to fill the vacancy arising.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Mr D M Gant Trustee

Date: 10 June 2026

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WRIGHT'S CLOCK LAND

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2025

The Trustees are responsible for preparing the Trustees' report 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 & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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, 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.

Approved by order of the members of the board of Trustees and signed on its behalf by:

Mr D M Gant Trustee

Date: 10 June 2026

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WRIGHT'S CLOCK LAND

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WRIGHT'S CLOCK LAND

OPINION

We have audited the financial statements of Wright's Clock Land (the 'charity') for the year ended 31 December 2025 which comprise the statement of financial activities, the balance sheet and the related notes, 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

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 United Kingdom, including the Financial Reporting Council'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.

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WRIGHT'S CLOCK LAND

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WRIGHT'S CLOCK LAND (CONTINUED)

OTHER INFORMATION

The other information comprises the information included in the annual report other than the financial statements and our auditors' report thereon. The Trustees are responsible for the other information contained within the annual report. 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. 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 course of 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:

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the trustees' responsibilities statement, 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.

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WRIGHT'S CLOCK LAND

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WRIGHT'S CLOCK LAND (CONTINUED)

AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

We have been appointed as auditor 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 an auditors' report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

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WRIGHT'S CLOCK LAND

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WRIGHT'S CLOCK LAND (CONTINUED)

As a result of the above risk assessment procedures we identified the greatest risk of material misstatement on the financial statements arising from irregularities and fraud to be within the potential for management to override controls together with the risk of fraudulent revenue recognition. We considered the risk of fraudulent revenue recognition to be most prevalent in the completeness and cut-off of revenue. In response to these identified risks, we designed procedures which included, but were not limited to:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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 auditors' report.

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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WRIGHT'S CLOCK LAND (CONTINUED)

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 its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

PEM Audit Limited

Registered Auditors Statutory Auditors Salisbury House Station Road Cambridge CB1 2LA Date: 11 June 2026

PEM Audit Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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WRIGHT'S CLOCK LAND

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

Note
INCOME FROM:
Investments
4
Other income
5
TOTAL INCOME
EXPENDITURE ON:
Raising funds
6
Charitable activities
7
TOTAL EXPENDITURE
NET EXPENDITURE BEFORE NET (LOSSES)/GAINS
ON INVESTMENTS
Net (losses)/gains on investments
13
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
17
Net movement in funds
TOTAL FUNDS CARRIED FORWARD
17		 Unrestricted
funds
2025
£
515,513
75
515,588
59,939
480,635
540,574
(24,986)
(358,878)
(383,864)
18,166,724
(383,864)
17,782,860		 Total
funds
2025
£
515,513
75
515,588
59,939
480,635
540,574
(24,986)
(358,878)
(383,864)
18,166,724
(383,864)
17,782,860		 Total
funds
2024
£
474,528
-
474,528
38,401
555,247
593,648
(119,120)
239,173
120,053
18,046,671
120,053
18,166,724

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 17 to 33 form part of these financial statements.

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WRIGHT'S CLOCK LAND

BALANCE SHEET AS AT 31 DECEMBER 2025

Note
FIXED ASSETS
Tangible assets
11
Investments
13
Investment property
12
CURRENT ASSETS
Debtors
14
Cash at bank and in hand
CURRENT LIABILITIES
Creditors: amounts falling due within one
year
15
NET CURRENT LIABILITIES
TOTAL ASSETS LESS CURRENT
LIABILITIES
Creditors: amounts falling due after more
than one year
16
TOTAL NET ASSETS
CHARITY FUNDS
Unrestricted funds
17
TOTAL FUNDS		 2025
£
94,157
623,374
717,531
(1,571,972)		 2025
£
1,859,980
16,801,741
200,000
18,861,721
(854,441)
18,007,280
(224,420)
17,782,860
17,782,860
17,782,860		 2024
£
85,514
856,920
942,434
(1,140,360)		 2024
£
-
19,040,581
200,000
19,240,581
(197,926)
19,042,655
(875,931)
18,166,724
18,166,724
18,166,724

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Mr D M Gant

Trustee

10 June 2026 Date:

The notes on pages 17 to 33 form part of these financial statements.

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WRIGHT'S CLOCK LAND

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025

CASH FLOWS FROM OPERATING ACTIVITIES
Net cash used in operating activities (note 17)
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends, interests and rents from investments
Proceeds from sale of investments
Purchase of investments
Purchase of investment property
Movement in investment cash
NET CASH PROVIDED BY INVESTING ACTIVITIES
CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR
Cash and cash equivalents at the beginning of the year (note 19)
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR
The notes on pages 17 to 33 form part of these financial statements		 2025
£
(769,041)
515,513
6,955,229
(5,106,739)
(1,859,980)
31,472
535,495
(233,546)
856,920
623,374		 2024
£
(521,967)
474,528
2,560,785
(2,500,164)
-
69,914
605,063
83,096
773,824
856,920

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WRIGHT'S CLOCK LAND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. GENERAL INFORMATION

The Charity is a charitable incorporated organisation incorporated in England and Wales. Its registered office and principal place of business is 7A Cow Lane, Fulbourn, Cambridge, CB21 5HB.

2. ACCOUNTING POLICIES

2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Wright's Clock Land meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 GOING CONCERN

The Trustees have considered future grant committments to assess the appropriateness of the going concern basis. Based on their review, the Trustees believe that the going concern basis of accounting is appropriate for 12 months from the date of signing.

2.3 INCOME

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by the investment advisor of the dividend yield of the investment portfolio.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. ACCOUNTING POLICIES (CONTINUED)

2.4 EXPENDITURE

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.

Support costs are those costs incurred directly in support of expenditure on the objects of the Charity. Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes investment management costs.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

Trustees consider that the impact of discounting grants payable in more than one year is not material to the Charity.

All expenditure is inclusive of irrecoverable VAT.

2.5 INTEREST RECEIVABLE

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 FOREIGN CURRENCIES

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the statement of financial activities.

The Charity's functional and presentational currency is GBP.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. ACCOUNTING POLICIES (CONTINUED)

2.7 TANGIBLE FIXED ASSETS AND DEPRECIATION

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Land is not depreciated.

2.8 INVESTMENTS

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement of financial activities.

Investment property is carried at fair value determined annually by the Trustees based on professional advice received. Fair values are derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the statement of financial activities.

2.9 DEBTORS

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.10 CASH AT BANK AND IN HAND

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. ACCOUNTING POLICIES (CONTINUED)

2.11 LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.

2.12 FINANCIAL INSTRUMENTS

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.13 FUND ACCOUNTING

General funds are unrestricted funds which 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.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

3. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGMENT

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below

Critical accounting estimates and assumptions:

Valuation of quoted investments - Annually the Trustees are provided with a portfolio valuation of its quoted investments by the Foundation's investment advisers which the Trustees deem to represent the fair value of the holding at the year end.

Valuation of Investment Property - Following trustee's instruction, in September 2022 the land held for investment by the Charity was appraised by Cheffins, an estate agent. Trustees accepted the valuation reported and, in accordance with the accounting policy, reflected the value in the accounts. The valuation in 2025 has been assessed by trustee's who determined the current valuation remain appropriate.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

4. INVESTMENT INCOME

Unrestricted
funds
2025
£
Investment income - Farming Business Tenant
700
Listed investments - Dividends
502,093
Investment income - Interest on cash deposits
12,720
515,513
TOTAL 2024
474,528		 Total
funds
2025
£
700
502,093
12,720
515,513
474,528		 Total
funds
2024
£
1,050
458,973
14,505
474,528

5. OTHER INCOMING RESOURCES

Sundry income
INVESTMENT MANAGEMENT COSTS
Investment management fees
Foreign exchange differences on investment accounts
TOTAL 2024		 Unrestricted
funds
2025
£
75
Unrestricted
funds
2025
£
55,237
4,702
59,939
38,401		 Total
funds
2025
£
75
Total
funds
2025
£
55,237
4,702
59,939
38,401		 Total
funds
2024
£
-
Total
funds
2024
£
56,333
(17,932)
38,401

6. INVESTMENT MANAGEMENT COSTS

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

7. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Public benefit in the parish of St
Vigor with All Saints Fulbourn
Clock and Bells maintenance
TOTAL 2024		 Activities
undertaken
directly
2025
£
-
19,272
19,272
4,868		 Grant
funding of
activities
2025
£
404,006
-
404,006
510,246		 Support
costs
2025
£
57,357
-
57,357
40,133		 Total
funds
2025
£
461,363
19,272
480,635
555,247		 Total
funds
2024
£
550,379
4,868
555,247

ANALYSIS OF DIRECT COSTS

Clock winding
Clock electrification
TOTAL 2024		 Clock and
Bells
mainte-
nance
2025
£
-
19,272
19,272
4,868		 Total
funds
2025
£
-
19,272
19,272
4,868		 Total
funds
2024
£
800
4,068
4,868

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

7. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

ANALYSIS OF SUPPORT COSTS

Legal & professional fees
Trustees' meetings
Audit and accountancy fees
Sundry expenses
Insurance
TOTAL 2024
All the support costs relate to governance (2024: all).		 Public
benefit in
the parish
of St Vigor
with All
Saints
Fulbourn
2025
£
40,183
358
14,587
347
1,882
57,357
40,133		 Total
funds
2025
£
40,183
358
14,587
347
1,882
57,357
40,133		 Total
funds
2024
£
24,801
218
15,114
-
-
40,133

8. ANALYSIS OF GRANTS

Grants payable (net of write backs)
TOTAL 2024		 Grants to
Institutions
2025
£
403,959
510,246		 Grants to
Individuals
2025
£
47
-		 Total
funds
2025
£
404,006
510,246		 Total
funds
2024
£
510,246

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

NAME OF INSTITUTION
Centre 33
Domino Pre-School
Edmund Trust
Fulbourn Action 4 Youth
Fulbourn Arts
Fulbourn Bowls Club
Fulbourn Forum
Fulbourn Foundation of Elizabeth March, The
Fulbourn Health Centre
Fulbourn Intl U13 Football
Fulbourn Pickleball Club
Fulbourn Primary School
Fulbourn Royal British Legion
Fulbourn Scouts
Fulbourn Swifts Group
Head to Toe
Men in Schools
St Vigor's Church, Fulbourn (Parochial Church Council)
Townley Hall
Wilbraham River Protection Society
Wildlife Trust ( Beds, Cambs, Northants)
Write backs
Fulbourn Health Centre
Fulbourn Primary School
Fulbourn PC
Fulbourn Scouts
Fulbourn Windmill Society
Head to Toe
St Vigor's Church, Fulbourn (Parochial Church Council)
Wilbraham River Protection Society
Other write backs less than £1k
Discounting
Movement in grants payable over 1 year discounted to present value		 2025
£
-
-
1,600
-
2,250
2,927
45,000
-
-
-
2,750
461,000
2,500
12,900
2,300
1,600
5,000
281,537
13,658
-
-
835,022
(165,000)
(250,867)
(4,711)
-
(3,510)
(27,963)
(16,129)
-
(1,686)
(469,866)
38,803
403,959		 2024
£
42,000
475
-
9,810
12,000
27,500
11,000
5,000
664
36,000
-
305,000
-
-
-
12,000
-
28,103
11,000
700
70,000
571,252
-
(9,547)
-
(12,000)
-
-
(38,597)
(39)
-
(60,183)
(823)
510,246

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

The charity made one (2024: no) grant to individuals.

9.
AUDITORS' REMUNERATION
2025
£
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts
10,470
Fees payable to the Charity's auditor in respect of:
Preparation of the statutory financial statements
4,056
10.
TRUSTEES' REMUNERATION AND EXPENSES
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 31 December 2025, no Trustee expenses have been incurred (2024
11.
TANGIBLE FIXED ASSETS
COST OR VALUATION
Additions
At 31 December 2025
NET BOOK VALUE
At 31 December 2025
At 31 December 2024		 9.
AUDITORS' REMUNERATION
2025
£
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts
10,470
Fees payable to the Charity's auditor in respect of:
Preparation of the statutory financial statements
4,056
10.
TRUSTEES' REMUNERATION AND EXPENSES
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 31 December 2025, no Trustee expenses have been incurred (2024
11.
TANGIBLE FIXED ASSETS
COST OR VALUATION
Additions
At 31 December 2025
NET BOOK VALUE
At 31 December 2025
At 31 December 2024		 2024
£
8,652
5,262
- £NIL).
Freehold
property -
Land
£
1,859,980
1,859,980
1,859,980
-

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

12. INVESTMENT PROPERTY

VALUATION
At 1 January 2025
At 31 December 2025		 Freehold
investment
property
£
200,000
200,000

The CIO holds 3.18 hectares / 7.86 acres of arable land that was donated to the original charity on its inception in 1525. The historic cost is £NIL. The land is situated in the Cambridge Green Belt and is currently farmed under a Farm Business Tenancy charging annual rent of £700. This land is subject to an option to purchase agreement as a result of a previous sale of the adjoining land in 2020. The freehold value of the land is constrained by the above and therefore any market value would be speculative in the short to medium term. Based on professional advice received in September 2022 from Cheffins its fair value is considered to remain at £200,000 (2024 - £200,000)..

13. FIXED ASSET INVESTMENTS

COST OR VALUATION
At 1 January 2025
Additions
Disposals
(proceeds
£6,955,229
and
realised
gain
£29,622)
Revaluations
Cash movement
Foreign exchange movement
AT 31 DECEMBER 2025		 Listed
investments
£
18,910,878
5,106,739
(6,925,607)
(388,500)
-
-
16,703,510		 Investment
cash
£
129,703
-
-
-
(26,770)
(4,702)
98,231		 Total
£
19,040,581
5,106,739
(6,925,607)
(388,500)
(26,770)
(4,702)
16,801,741

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

13. FIXED ASSET INVESTMENTS (CONTINUED)

I NVESTMENT RISK MANAGEMENT

All investments are carried at their fair value. Investment in equities and fixed interest securities are all traded in quoted public markets. Holdings in common investment funds, unit trusts and open-ended investment companies are included at the bid price. The basis of fair value for quoted investments is equivalent to the market value, using the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value).

The significance of financial instruments to the ongoing financial sustainability of the charity is consideredin the financial review and investment policy and performance sections of the Trustees’ Annual Report.

The main risk to the charity from financial instruments lies in the combination of uncertain investment markets and volatility. Liquidity risk is anticipated to be low as all assets are traded and the commitment to intervention by central banks and market regulators has continued to provide for orderly trading in the markets and so the ability to buy and sell quoted equities and stock is anticipated to continue. The charity‘s investments are mainly traded in markets with good liquidity and high trading volumes. The charity has no material investment holdings in markets subject to exchange controls or trading restrictions.

The charity manages these investment risks by retaining expert advisors and operating an investment policy that provides for a high degree of diversification of holdings within investment asset classes that are quoted on recognised stock exchanges. The charity does not make use of derivatives and similar complex financial instruments as it takes the view that investments are held for their longer term yield total return and historic studies of quoted financial instruments have shown that volatility in any particular 5 year period will normally be corrected.

14. DEBTORS

2025 2024
£ £
DUE WITHIN ONE YEAR
Accrued income 94,157 85,514

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accruals
Grants accrued		 2025
£
14,526
1,557,446
1,571,972		 2024
£
29,473
1,110,887
1,140,360

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Grants accrued
All grants are payable within five years.
GRANT COMMITMENT MOVEMENT
Grant commitment brought forward
Grants committed
Grants paid
Grants written back
Movement on grants payable over 1 year discounted to present value
Grant commitment carried forward		 2025
£
224,420
2025
£
1,986,818
835,069
(608,958)
(469,866)
38,803
1,781,866		 2024
£
875,931
2024
£
1,916,125
571,252
(439,554)
(60,182)
(823)
1,986,818

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

17. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

UNRESTRICTE
D FUNDS
DESIGNATED
FUNDS
Windmill
Restoration
Wright's
Quincentenar
y - clock
modernisation
Puchase of
Property
GENERAL
FUNDS
Unrestricted
funds
TOTAL
UNRESTRICTE
D FUNDS		 Balance at 1
January
2025
£
18,000
23,000
-
41,000
18,125,724
18,166,724		 Income
£
-
-
-
-
515,588
515,588		 Expenditure
£
-
(19,272)
-
(19,272)
(521,302)
(540,574)		 Transfers
in/out
£
-
(3,728)
2,800,000
2,796,272
(2,796,272)
-		 Gains/
(Losses)
£
-
-
-
-
(358,878)
(358,878)		 Balance at
31
December
2025
£
18,000
-
2,800,000
2,818,000
14,964,860
17,782,860

Purpose of funds and transfers

Windmill Restoration - As agreed in May 2024, £18,000 has been set aside to be spent on advisors for the Windmill Restoration project. There have been no costs incurred in the year.

Wright's Quincentenary - clock modernisation - In November 2024 the trustees agreed to set aside £23,000 to modernise the clock. This is considered as part of the first of the CIO's 3 Charitable Objects - "...... maintenance , improvement of clock and bells.' This work has been completed in the year and the remaining balance transferred to unrestricted.

Purchase of property - During the year it was agreed to purchase a portfolio of properties, no.2 to 16 Fulbourn High Street, thereby fulfiling the Charitable objects and also diversifying investments. Vioa the Trustees, the Trust would own half the High Street.

The transfers in reflect the decisions made by trustees at their meetings in the year.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

17. STATEMENT OF FUNDS (CONTINUED)

STATEMENT OF FUNDS - PRIOR YEAR

UNRESTRICTE
D FUNDS
DESIGNATED
FUNDS
Windmill
Restoration
Wright's
Quincentenar
y - clock
modernisation
GENERAL
FUNDS
General Funds
- all funds
TOTAL
UNRESTRICTE
D FUNDS		 Balance at
1 January
2024
£
-
-
-
18,046,671
18,046,671		 Income
£
-
-
-
474,528
474,528		 Expenditure
£
-
-
-
(593,648)
(593,648)		 Transfers
in/out
£
18,000
23,000
41,000
(41,000)
-		 Gains/
(Losses)
£
-
-
-
239,173
239,173		 Balance at
31
December
2024
£
18,000
23,000
41,000
18,125,724
18,166,724

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING 18. ACTIVITIES

Net income/expenditure for the year (as per Statement of Financial
Activities)
ADJUSTMENTS FOR:
Gains/(losses) on investments
Dividends, interests and rents from investments
Increase in debtors
Increase/(decrease) in creditors
NET CASH USED IN OPERATING ACTIVITIES
19.
ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash in hand
TOTAL CASH AND CASH EQUIVALENTS
20.
ANALYSIS OF CHANGES IN NET DEBT
At 1
January
2025
£
Cash at bank and in hand
856,920
856,920		 2025
£
(383,864)
358,878
(515,513)
(8,643)
(219,899)
(769,041)
2025
£
623,374
623,374
Cash flows
£
(233,546)
(233,546)		 2024
£
120,053
(239,173)
(474,528)
(2,224)
73,905
(521,967)
2024
£
856,920
856,920
At 31
December
2025
£
623,374
623,374

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

21. RELATED PARTY TRANSACTIONS

Rev A Goodman is a Trustee of St Vigor's Church Fulbourn. Dr A Whitehead and Mr D M Grant resigned as trustees.

During the year the charity awarded grants to St Vigor's Church, Fulbourn amounting to £261,500 (2024 - £28,103) and wrote back £15,006 (2024 - £38,597). At 31 December 2025 the charity has unpaid grant commitments of £262,220 (2024: £106,558) of which £262,220 (2024: £46,175) is shown within one year and £nil (2024: £7,750) as due after more than 1 year.

During the year a grant was awarded to Townley Hall for £13,658 (2024: £11,000). There was nothing outstanding as at 31 December (2024: £101,000). Mr D Sheppard is also a Trustee of this charity.

In 2023, a grant up to the value of £1,000,0000 was awarded to Fulbourn Windmill CIO (previously Fulbourn Windmill Society). Mr H White, was a Trustee of Fulbourn Windmill CIO in 2024 and 2025 until his resignation on 5 March 2025. Mr D Grove is a current trustee of the Fulbourn Windmilll CIO. As at 31 December 2025, £851,307 remained unpaid (2024: £935,644). £3,510 (2024: £nil) was wrote back. Based on the best estimate of the status of progress £851,307 has been shown as payable within 1 year.

A connected party of Mr D Grove holds a senior role at Fulbourn Primary School, which are partially funded by a three year grant from the charity. Both individuals abstained from involvement in a) the application process and b) decision making on grants awarded.

Post year end, Mr S Thorpe was appointed as Fulbourn Primary School's Head of Governors. A number of grants are awarded to the School. Mr Thorpe will abstain from decision making on grants awarded.

During 2024, grant was paid to Elizabeth March Charity for £5,000. Rev A Goodman, Trustee, and Mrs R Kindred, Trustee are also Trustees of this charity. No such grant was made in 2025.

22. POST BALANCE SHEET EVENTS

The Trust bid £2.35 million for a portfolio of properties, nos. 2 to 16 Fulbourn High Street; thereby fulfilling the Charitable objects and also diversifying investments. Contracts were exchanged on 15 May and completion took place on the 20 May 2026.

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