With
CHARITY REGISTRATION NUMBER: 1199071
Nature Reserve
The Anne Carpmael Trust (CIO)
Financial Statements
31 March 2025

The Anne Carpmael Trust (cio)
Trustees, annual report
for the year to 31 P41arch 2025
The trustees present their report and financial statements of the chanty for the year ended 31 Marth
2025.
Reference and administrative details
Registered charity name
The Anne Carpmael Trust (CIO)
Charity registration number
1199071
Principal office
thymead House
Bridleway
Goring-on-Thames
Reading
RG8 OHS
The trustees
Jennifer A Hedge (Chair)
Steven Ambler {appointed 14 May 2024)
Glen Beamson
Robert Cooke (appointed 13 May 2024)
Aine Mccartney
Sheila McKenzie (Treasurer)
Philip Rooney {appointed 28 May 2024)
Imogen V Smart
Kay Srnitham
David Gwillim {resigned 24 May 20241
Dr Colin L Reeves CBE (resigned 23 April 2024}
The trustees are responsible for managing the proFerties held by the charlty. These properties are..
Withymead, Bridleway, Goring on Thames
Springfield Cottage, Bridleway, Goring on Thames
The Study Centre and land adjoining Springfield Cottage
Tara's Piece, Bridleway. Goring on Thames
Little Meadow. Goring on Tha￿eS
The trust has a revetsionary interest in Stalisfield Cottage, BTidleway. Goring on Thames. The
propety is subject to a lifetime interest under Anne Carpmael's will and the trus¥s ir)terest will
crystallise upon cessation of Ihat interesL
Independent Examiner
Mr Stuart Bates FCA
Wenn Townsend
Victoria House
10 Broad Street
Abingdon
Oxfordshire
OX14 3LH
Bankers
HSBC Bank PLC
26 Broad Street
Reading
Berkshire
RG12BU

The Anne Carpmael Trust (CIO)
Trustees, annual report
for the year to 31 March 2025
Structure, governance and management
The Anne Carpmael Trust {CIO) was constrtuted on 14 Feb 2022 and registered wtth the Charity
Commission on 24 May 2022
registered charity number 1199071. The trust uses the name
Withymead Nature Reserve for identifitstion and marketing purposes.
The trustees who have served during the year and since the year end are set out above. The trust
deed stipulates Ihat there be at least th[￿ trust￿ and no more than nine. New trustees are
appointed by resolution of the e￿stIng trustees at a spectal meeting.
Background and history of the Trust
The Anne Carpmael Trust (ACTI owns the Wthyrwd Nature Reserve which occupies
approximate￿ 13 acres of river frontage betw&n (kJring-on-Thames and South Stoke. a Iwo-thirds
share of Tara's Piece which is a small riverside bank nearby and Lttue Meadow, a 2-acre wildflower
water meadow to the south of Goring-on-Thames.
Anne C8rpmael Iwed at Wrthymead for neaty 60 years. A keen naturalist, she provided a habitat
that encouraged birds, both natNe and migratory. Prior to her death in 21x13 Ihe Anne Carpmael
Charitable Trust (No 1102152) was fomied to preserve the house and tts riverside land. These 13
acres now fomi the Wrthymead Nature Reserve
Tara's Piece was purchased by Anne Carpamel and her husband Philip Carpmael with Lord
Marshall of Goring in 1982 to prevent the site tEing developed and lost as a piece of original river
terra￿. Anne Carpmael survived her husband and later gave their share to the Trust. On Lord
Marshall's death his one-third share passed to his widow. Lady Marshall died in 2021 and her
share is now held by her estate.
Little Meadow was gifted to Anne carpM￿l Charitabte Trust by the Goring and Streatley
Environmental Group in February 2012. It is a wldftower meadow and area of coppiced woodland,
providing a natu￿1 floodplain. which lies on the Oxfordshire bank of the Thames south of Goring,
immediatety upstream of Gatehampton ra1￿Y bridge.
In 2022, the Anne Carpmael Charitable Trust (No 11021521 ￿nVerted to a Charilable Incorporated
Twst {No 11990711 known as the Anne Carpamel Trust (ACT)
Objectives and activities
The objects of the charity are:
the promotion, protection and preservation of the flora and fauna found in Goring-on-
Thames, Oxfordshire and Vrfithin a radius of 10 miles from the village"
the provision of financial assistan￿ to the schools and other organisations in the villages of
Goring-on-Thames. Streatley and the surrounding areas so that pupils and members can
be taught and leam ab)ut this flora. fauna and nature,.
the general education and benefit of the public wrth regard to nature.
The trustees have paid due regard to the guidan￿ gNen ty the Charity Commission on public
benefit when decKling what ath"vities the chanty should undertake.

The Anne Carpmael Trust (CIO)
Trustees. annual report
for the year to 31 Pllarch 2025
Main activsties in relations to objects
The main activities carried out by the Tnjst are"
the management ot the reserves owned ty the Trust to protect and preserve the flora and
fauna
the prormtion of the reserves as havens for wildltfe, plants and trees
enabling access withoui charges to all people who wish to visit for study or leisure
the provision of educational faciltties and materials for vistts to the reserves
utilising volunteers lo assist in maintaining the reserve and engaging with nature
the raising of funds towards both general rnaintenan￿ and specific projects at the
reserves.
The Trust has ts¥o resident wardens at Withymead, who manage the nature reserve at Withymead,
Tara's Piece and Little Meadow. They are supported by the Trustees and volunteers in the day-tO-
day management of the reserve, including"
ongoing land management and enhancing wildlife on all the reserves with the intention of
having an achievable and manageable plan_
enabling the continuing study and rnonttoring of wildltfe populations on the reserves by the
wardens, volunteers and other interested parties.
allowing the Forest School to operate from part of the reserves lo facilitate the
encouragement of interest in nature by young children.
encouraging and allowing access to any interested person.
Review of charitable activities in 2024-25
The main Withymead reserve continued tr) grow in popularity both with the general public and
specialist groups. Our onsile Warden has developed links and hosted visits with the Chiltems and
North Wessex Downs National Landscapes, the Reading Natural History Society, the British
Conchological Society and teams from the Centre for Ecology and Hydrology in addition to visits
from species specialists focussing on moths. bats, diptera and mosses. New species sighted during
the year included the Clifden Non-Pareil which is re-colonising having been extinct in this area in
the 1960$ and fve new species of moss.
Local community groups make visits to Ihe reserve and the Biological Records Centre IBRCI held
their annual team building day at Nthymead, carried out a bioblitz and uploaded their species
count to irecord.
The Trust was awarded a substantial grant of £90,000 by the Mend ihe Gap Project overseen by
Chiltems National Landscape. This granL with match funding from Defra. funded the replacement of
half the current boardwalk which provides access to the marshy areas of the reserve. The new part
of the boardwalk now allows access for wheelchairs and buggies and includes a viewing platForm
and there is now warden's welcome shelter. The Trusl will progress plans to enhan￿ the entrance.
The project is expected to complete in Jan 20261 and included the requirement to run six events for
EDI audien￿$ (Equality, Diversity and Inclusion). Three EDI events were run this year and there are
plans to run a further three in the coming months.
The Twst was also awarded ftjnding from Defra (Access for All fr)r accessible benches and tables
and for a stand of bicycle racks.
The Warden oversees work by volunteer groups who engage in conservatr.on tasks. The Wallingford
Green Gym visit with up to 15 volunteers eight b.mes a year and the Withymead volunteer group meet
on a monthly basis.

The Anne Carpmael Trust (CIO)
Trustees. annual report
for the year to 31 March 2025
Part ofthe sf(e is used by fyvo Ictal primary schooLswho fun Forest School sessions during term time
with up to 12 pupiL% and accompanying aduws attending e&h session.
For Little Meadow the devebpment of the maftagement pLin is nearing comptetion supported by
liaison with BB0￿ IBerks, Bucks & Oxfordshire Wildlrfe Trust) who have undertaken soil samples
and identified the soil type within the meadow which will infomi fvture species management. The
Fishing Club are worknng in partnership wrth the Trust to manage the meadow and to share the costs
of two meadow cuts per year.
We have maintained a relationship with Prof Peter Holland (Oxford Unwersty). a former twstee,
who is leading a group engaged in the Darwin Tree of Lrfe Project and who is using the Wrthymead
ReseTve as one of the research sites.
Main objectives for 2025-26
In line with ACTS, Vision and Strategy Do(#Jment {Nov 2021}, the plans for 2025-26 are=
1. Implement the Ltttle Meadow Management PLgn.
2. Procure grant funding for the next phase of the boardwalk project- repl￿rnent of the
remaining section and bridge.
3. Install new entrance gates and ass(Kiated frncing.
4. Run a ￿rther three events for EDI audiences.
5. Secure funding and irnplement pond and drainaje improvements, which will invO￿e the
development of ponds and dredging of channels within the reed bed.
6. Continue contact with conservatson. natural history and similar groups who use Wthymead
and encourage more groups lo do so.
7. K*p Withyrread in the publ￿ eye through arb.des in the I￿1 press, talks to local gTOUPS
etc.
Trustees and Wardens
The trust will continue to monitor the need for recruttment of new Trustees to ensure Suc￿sSion.
The present wardens, Pete Morton and Jade van der Merwe. were aptM)inted in September 2019
and have a >year rolling agreemenL
The trustees are very gratefvl for the enthusiasm and hard work of the wardens. which has been a
major factor in the increased POF)ulartty and publ￿ awareness of Wthymead.
Volunteers
The Trust is gratefvl for the services and gifts in knnd donated by its many volunteers. The Trust does
not have a policy to measure the economic value of these aCt￿￿"eS. Major regul8r gifts of time and
services include administration, biodNersity expertise, educational advice, fijndraising, site
maintenance and devebpment External professional Serv￿ are employed as and when the
situation requires.
Fundraising
Overall, the Trust has had a signfficant increase in incorre however, this is due to bèing awarded a
substantial grant of £90,000 by the Chittem COnserva￿n Board as part of the Mend the Gap
Programme. This has eriabled the cOm￿n￿Ment of a project lo improve the ￿ardWalk in
wrthymead Nature Reserves. We also receNed match fijnding of £30.0(K) for this project from the

The Anne Carpmael Trust (cio)
Trustees. annual report
for the year to 31 Ma￿h 2025
Department of Environmen( Food and Rutal Affairs. Wthout this grant, income was very similar to
the previous year. The overall level of regular giving particularfy from Friends of Wthymead Patrons
remained strong.
Trading income on the sale of gocxys. ¢2tering and craft courses was similar to the previous year
£2.686 compared to £2,529.
The T￿st 15 also very grateful for other grant income received during the year.
As well as the match funding provided for the boardwalk projec( the Department of the
Environment, Food and Rural Affairs provided £6.685 for accessible fumilure al Withymead.
This included standard picnic benches, pthlc benches for wheelchair seating and bicycle
racks.
£1,500 was receNed f￿M Oxfordshire County Council to ftjnd essential tree surgery work at
Withymead.
Through the Farming in Protected Lands(2pes Programme the Chiltems Conseryation
Board awarded a further grant of £400 for scythe training.
RUBI Payments Agency Flood Relief Fund £2.895
FINANCIAL REVIEW
The Trusys assets are held in property, a current account and linked money manager account with
HSBC. and an open-ended stock market inveslment fvnd managed by Chades Stsnley & Co Limited.
The investment fund showed a capit21 gain of 0.5¥0 and a total retum of 1.9°k over the year after
management costs. Rent from Springfield Cottage contributed just over £12.500 after management
fees and Tnaintenance costs.
The result for the year was a net decrease of £234 in Unrestricted Funds and net increase of £80,619
in Total Funds. This result is stated after charging depreciation of £29,362 and accounting for an
unrealised gain on investrnents of £467_ The large net increase in total funds resulted from the
capilalisab'on of the new boardwalk al the reserve, whi¢h was funded by a restricted grant. Cash is a
more important indication of the Trusys financial health. There was a net inflow of £6.063 of cash
available for general purposes_
RESERVES POLICY
It is the policy of the chartty to maintain unrestricted fvnds, consisting of consetvative investments in
propety, stock market funds and a high interest bank deposit account. At 31 March 2025 the total
resetves were £1,685,872, wrlh a balance of £81,903 as restricted ftjnds and the remainder free
reserves. Of the fr￿ reserves balan￿, £55,957 was held in bank accounts and £58,693 as listed
investments. The remaining balance is held as fixed assets. mainly tsvo properties Withymead House
and Springfield Cottage. The Charity's policy for mairilaining reserves is to retain cash or easily
realisable funds to be able to deal wrth any major repair work and other unforeseen expense arising
in the next year together with day lo day running expenses.
RISK MANAGEMENT
The Trustees have continued to assess the major risks tr) which the charity is exposed and systems
have been established to minimise those risks.
In the longer tem the cost of maintsining Wthymead H(KJse is a concem to the trustees.

The Anne Carpmael Trust {ClO)
Trustees. annual report
for the year to 31 March 2025
RESPONSIBILITIES OF THE TRUSTEES
The charity's trustees are responsible for preparing the Trustees. Annual Report and the financial
statements in accordance with appI￿able Law and United lfjngdom Accounting Standards Iunited
lfjngdom Generalty Accepted A¢¢ounting practi￿). The law applicable to charities in England and
Wales requires the Injstees to prepare financial statements for each financial year which give a true
and fair view of the state of affairs of the charrty and of the incoming reSoUr￿S and application of
resources of the charity for that period. In preparing these financial statements, the trustees are
required to:
select svitsble accounting pOI￿leS and then apply them consk%tendy",
obseNe the methods and principles in the Chartbes SORP IFRS 1021..
make judgements and estimates that are reasonable and prudent
slate whether appliixble accounting standards have b￿n followed, subject to any material
departures disdosed and explained in the financial slatements.,
prepare the financial ststements on the going concem basis unless tt is inappropriate to
presume that the charity will continue in operatton.
The trustees are responsible for keeping proper ac¢ounb'ng records that disclose with reasonable
accuracy at any lime the financial FX)Sttion of the charity and enab￿ them to ensure that the financial
ststements comply with the Charities Act 2011 and the Charity {Accounts and Rep(rtsl Regulations
2008. The trustees are also responsible for safeguarding the assets of the charity and hence for
laking reasonable steps for the preVent￿)n and detection of fraud and other irregularities.
The trustees, annual report was approved on 17th October 2025 and signed on behalf Df the board of
trustees by..
J A Hedge
Trust
S P McKenzie
Trustee

The Anne Carpmael Trust (CIO)
Independent examiner's report
for the year to 31 March 2025
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31
March 2025 which are set out on pages 9 to 18.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordan￿ with
the requirements of the Char￿"eS Act 2011 (the Acr).
I report in respect of my examination of the ch2rty's accounts ca￿￿ed out under secb.on 145 of the Act
and in carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 145151{bl of the Act
Independent examinerfs statement
I have cornpleted my examinats"on. I confirm that no material matters have come to my attention in
connection with the examinab'on giving me c2use to believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 130 of the
Actr. or
2. the a(munts do not aco)rd wth those records; or
3. the accounts do not compty with the applicable requirements concerning the form and content
of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the accounts gDiÈ a 'true and fair view. which is not a matter considered as
part of an independent examination_
I have no concems and have corne across no other matters in ¢onne¢tion with the examination to
which attention should be drawn in this report in order to enable a proper understanding of the
accounts to be reached.
Stuart Bales FCA
Wenn Townsend
Victoria House
10 Broad Street
Abingdon OX14 3LH
T#tr October 2025

The Anne Carpmael Trust (CIO)
statement of Financial Activities
including the Income and Expenditure Account
for the year to 31 March 2025
2025
FY2024
Note Unrestricted Restri¢ted
Funts
Funds
Total
Funds
Total funds
INCOMING RESOURCES
Donations and legaues
10,
102,352
113,318
17.110
charitab￿ activihes
Othertrading activities
2.686
2,529
Investment inixjme
16.641
16,641
16,(65
Other income
178
178
629
30,804
102.352
133.156
36,679
RESOURCES EXPENDED
Expenditure on raising lunds
Costs of raising donations and
legaoes
73
73
138
Investrnenl management costs
10
2.279
2,279
2,059
Expenditure on chartsble aGbvihes
15,C68
50,651
37.935
15.￿8
53,003
$4,093
Net incoming resources before
investsnent gains {1055esl
(7.131)
87.284
80.153
117,4141
Other recognised gains {lossesl
Net gains110ssesl on investrnents
13
467
467
Nèt income lexFenditiJrel
16.6641
87,284
80.620
{12,3701
Trar*fets betW￿n fvnds
6,431
16.431)
Net movement in funds
80,853
80.ff20
12.370
Reconciliation of fund5
Total fijnds brought forward
1,eA)4.21Y2
1.050 1,605.252
1.617.623
Totsl funds carried foThvard
1,PJ)3,
81.￿3 1.685 872
1.605,253
The statement of financial activth.es includes all gains and k)sses reix)gnised in the year.
Al income and expenditure derive from conbnuing acb"vrb"es.

The Anne Carpmael Trust (CIO)
Statement of Financial Position
at 31 March 2025
2025
2024
Fixed assets
Tangible fixed assets
18
989.635
917,355
Investments
19
633,693
633,386
1.623.328
1.550,741
Current avsets
Debtors and prepaid expenses
8.141
6,172
Cash at bank and in hand
55.957
49,894
56,066
Creditors: amounts falling due within
one year
21
1,554
Net current assets
62,544
54,512
Total a*3ets less current ITabiltties
1.685,872
1.605,253
Net assets
1,685.872
7,605,253
Funds ofthè Charity
Restricted funds
81,
1,050
Designated funds
41.(XK)
Unrestricted fvnds
7.604.203
1.603,969
1.685.872
Total charity funds
1,605,253
These financial statements were approved by the board of knjstees and authorised for issue 1P
October 2025 and are signed on behalf of the board by:
J A Hedge
Trustee
S P McKenzie
Trustee
The notes on pages 11 to 18 form part ofthese financial statements.
-10-

The Anne Carpmael Trust (CIO)
Notes to the Financial Statements
For the year ended 31 March 2025
Genèrnl informatton
The charity is a registered chartty in EngL4nd and Wales and ss incorp)rated. Thè add￿$$ of the pllnapal
office ￿ VWrthwDead House. Bridleway. Goring4)TrThames RG8 OHS.
Statemerrt of compltarKe
The financial statements have been prepared in ￿cOrdan￿ witt) Ac￿untIng and Reporting by Charib"es'.
Statement of Recommended prath￿ apt41(?b￿ to d*nb"es weparing their accounts in accordance with the
Finanaal Reporting Standard applicable in the UK and Republic of Irdand {FRS 102} issued ir¥ Odober
2019, the Finanual Reporbng Slandaid ap[￿l¢Ab￿ in UK and Republic of Ireland {FRS 1021, the Charities
Act 2011 and appli¢>ble iegulab"ons. accounts have been pwared Lmderlhe hLStorical cost convention
with the eX￿p11)n of fixed assets induded at revalu￿1 amounts.
Aeeourjting policies
Grants
Grant income is ￿cogniSed on a r￿l¥ab￿ basis. ￿ere a restriction is pl&ed on the use of the granL the
amount ofthe gt8nt is included In restricted fjmd& Grart experKlituie is re(Xyn￿ed on a payable basis.
Basis of preparation
The finanrial statements have been prepared on the historical (x)st basis. as modified by the revaluation of
certain finar￿la1 assets and lth¢lities and investment properties measured at fair vdue through In￿ME or
expenditure.
The financial statetnerts are prepared in sterknng. whK* is the f￿￿tr{ma1 (xJrrÈntty of the entity.
Incoming resources
Incoming resources a￿ induded g￿￿$ aMI %uxJnte(l ts on a receivable ba$is. Ini>Jming resources
receNed in resped ofthre periods ￿e defeffed to thal wod.
RÈsouTces ex￿rKled
Resources expeThJed are gross and ate attourrteil for on an ￿ualS basis. Costs are allocated
diredy to the category to whith they relate. Where this alh)cation is not possibk costs are allctated within
'goveinance costs.. The charTty is r￿t registered for VAT and all expendityjre is therefore recorded indusive
of Irrecoverab￿ VAT.
Unrestricted fvnds
Gener318(tumulated f￿r￿S rEpresentthe knds of the chartty thatare not gjbjectto any res￿10￿$ regarding
Iheii use and ale availab￿ for application on the general purposes of running the charity.
Rèstricted FurKIs
These rdate to in¢xJming resour￿$ have twi received suty'ec* to spe¢rfFG wndilion5 imposed by the
donor and binding on the Trustee$ and onty be appled in ac£ordancewth the restrictions pjaced on the
donation.
Value Added Tax
Thè tharity is not registe￿d for VAT. IIrw￿e￿ab1tt VAT is charged against the category of resoui
expended for which rt is inwrred.
Going concem
There are ￿ material un(*rt8inhes thè tharity's abdty to (￿inUe.
11

The Anne Carpmael Trust {ClO)
Notes to the Financial Statements
For the year ended 31 March 2025
Judgements and sources of uncertainty
The p￿paration of the finarK4al statements wul￿S tnanagement to make judgements, estimates and
assumptions thal affe¢tthe amounts retM)rted. These estimates and judgements are continually reviewed and
are based on experience and other fadot5. irdLwJiNJ eXpe￿a￿nS of future evenls that a￿ bdieved to be
reasonable undèr the urcumstances.
Fund aceounb.ng
Unrestricted fundsare availatAe lor L￿e atthe discTrlion ofthe truslees tofurther any of the (tsTrty's purposes.
Restricted fijnds are sut4'ected to reslrictions on theirexpendiiure dedared ty the donor orthrough the temis
of an appeal and frdll into one of two su￿￿a$ses". restrscted income fijnds or endowment furtds.
Tangible assets
Jul fixed assets are initialty recorded at cost. Expendrture on frAed assels below £5￿ is written off in the year
of expense.
DÈprÈeiation
DÈprÈu*ion is (2lcAJlated lo vffite off the ¢xJst orvaluation of an asset, less its residual value. over the useful
economic lrfe ofthat asset as follows".
Freehold land
Freehold pioperty exduding the Study Centre
Study centre
Attachments to land Ifenang, Lx)ardwJks. etc)
Plant and equipment
Not deprwaled (see note below)
60 years straight line.
25 years straight line.
10 years straight line.
10 years straighl line.
Note". Becatjse no valuation ts available for Wthymead House separate frcffi its SUTrounding land,
deprecialion has been pnmded on the entire htstoric cost of £825,(XMI.
Investments
Listed investments are measured at fail value with thanges in fwr value being r￿ognISed in income or
expenditure. IEwestmenls to be held fortheir lon*term Fotential are capitalised in the balan¢e sheet, initially
al cost.
Investment property
Investment property is intbally rewrded at (x)sL which i￿lU(￿S txjtthase price and any directy attributable
expenditure.
Investment property is revalued to its fair vaue at eath reporling dale and any changes in fair valuè a
recognised in income or expenditure. If a reliable measure of fair value is no longer available without undue
cost or effort for an Ttem of investsnent property, rt shall be transferred to tangible assets and treated as such
until it is expected that fair value will be relHbty measurable on an onwng bas¢s.
Financial irtstwments
Finanaal instruments a￿ dassffied and acownted for, am)rding to the Substan￿ of the cx)nlra¢iual
agreement, as either finanaal assets. ffinan(ial liabiltb"e$ 01 equtty instruments. An equity instrument is any
contract that eviden￿ a resi¢Yual interest in the assets of the company after dedudin9 all its liabilitEs.
12-

The Anne Carpmael Trust (CIO)
Notss to the Financial Statements
For the year ended 31 March 2025
Donallon$ and l¢gacie
Unrestiide
Funds
ReSt￿ted Total FuThls
Funds
2025
DortatiDns
DonatK)ns
Grft aid repayment
Grants rece￿a￿e
5,388
883
4.695
10.966
5,388
883
107,047
113,318
102,352
102.352
Unrestrided
Funds
Restricted Total Funds
Funds
2024
Donations
Donations
Gift aKI repay￿nt
Grants receNable
4,227
726
1,500
6,453
4,227
726
12,157
17,110
10,e&7
10.657
Income from charitable activities
UnrestrFCted Total Funds
Funds
2025
Unrestricted Total Funds
Funds
2024
Talks to local organisations
Organised visrts and tours
100
233
333
10)
233
333
271
75
271
75
346
Income from other trading activities
￿n￿Stn"t￿e￿ Total Funds
Funds
2025
Unrestri(*ed Total Funds
Funds
2024
Sales of cream teas, honey and g¢yxk
2,529
2,529
2.529
2.529
Investment income
Unrestricted
Funds
Totsl Funds Untestricted
2025
Funds
Total Funds
2024
In¢x)me from list￿ investmer
8ank interest receivab
Gross r￿t ¢￿e1Vable
825
825
941
14.4Th)
16,641
941
14.4
16.641
14.4
1 S,605
14,400
16.065
Other ineomè
Unrestrided Totsl Funds
Funds
2025
Un￿Sti)Cted Total Funds
Funds
2024
Fishing rights and Wa￿eaVeS
Compensation trom b￿k
178
178
179
450
629
179
450
629
178
178
13-

The Anne Carpmael Trust (CIO)
Notes to the Financial Statements
For the year ended 31 March 2025
Costs of raising donations and legacies
Unrestr￿ted Total Funds Unrestride(f Total FuFtds
Funds
2025
Funds
2024
Enlertatnment of Friends ofwthynwd
Postage. ststionery and other
57
81
138
57
81
138
73
73
73
73
10.
Investment management Costs
Untestrthd Totsl Funds unrestrict￿ Total Funds
Funds
2025
Fun
2024
PortFolio management
InvestnEnt property management costs
Investment property ThaIntenan￿ costs
321
1,958
201
1,858
201
1,858
1.958
2,279
2.279
2.059
2,059
11. Expenditure on ¢haritable activities by fitnd ty
Unrestricted
Funds
Restsicted
Funds
Total Funds
2025
Maintenance of property
Running costs
Trad¥ng costs
Professional fees
Depreuation
5,970
6,497
1,316
1.380
20.420
35,583
5.483
11,453
6,497
1,316
1,380
30,005
50,651
9.585
15,068
Unrestricled
Funds
Restricted
Funds
Total Funds
2024
Maintenance of property
Running costs
Trading (x)sts
Professional fees
Depreaation
8.285
4.837
1.241
4.407
20,029
38,799
9.607
3,4
17.892
8,327
1,241
4,407
20,029
51.896
13.097
12.
Expenditure on charitable adivitses by activity type
Unrestrthd Restricte(l Totsl funds
Funds
Funds
2025
Totsl fund
2024
Charitable 8Gbvty
Govemance costs
37.958
780
38.738
11.913
49,871
780
SO.￿1
51,116
780
51,8
11,913
14-

The Anne Carpmael Trust (CIO)
Notss to the Financial Statements
For the year ended 31 March 2025
13.
Net gainsl(lossesl on investmenls
Unreslricled Total Fund
Funds
2025
Unrestri(*ed
Funds
Total Funds
2024
Gainslllossesl on liste(l investsnents
Realised
Unrealised
467
467
467
Gain on revaluation of investment propety
467
467
14.
Net income lexpendityre)
Net Ir￿Me {expendititre) ts slated aftercharging
2025
2024
Oepretiation of tan9ible frxed agsèts
20,029
Independentexamination fees
2025
2024
Fees payat4e lo the indepen(krFt examirw for exam￿atiOn of the fin￿1?
statements
780
16.
Staff costs
The total staff costs arhj empbyee beneffts for the reporfing ￿￿riOd arè analysed as ftAI(Ms.'
2025
2024
The average head count of employees duiing the yearwas NI112￿24. NID.
No emFAoyee receNed employee benefils ol than £60.(JY) during the year {2024.' Nit).
17.
Trnstee remunerdtion and eX￿n￿$
No tnjsleè was p*d forthe provigon of goods or services to the thaiity12024. nll.
-15-

The Anne Carpmael Trust (CIO)
Notes to the Financial Statements
For the year ended 31 March 2025
18.
Tangible fixed assets
Land and
buildings
Equipment
Totsl
Cost
At 1 April 2024
Addrtiorks in the year
Disposals during year
Cost at 31 March 2025
1.276.704
95,855
7.930
6,431
1,284,634
102.285
1.372,558
14,361
1.386.919
Dep￿ciatIon
At 1 April 2024
Charge for the year
Disposals during year
At 31 March 2025
359.513
29,198
7,766
367,279
30,005
388,711
8.573
397,284
Carrying amount
At 31 Ma￿h 2025
983.847
5,788
989,￿5
Al 31 March 2024
917.191
164
917,355
The freehold property was valued in May 2022 by James Elliolt IMNAEAI of Davts Tate. This valuation was 8
desktop update of previous valuats'ons. The marketvalue was considered to be £3,742,OfX) at 31 March 2022. The
trustees con&der that this value is unchanged at 31 March 2025. Stalisffield Cottage, in whith the charity holds a
ieversionary interest, is held in tangible r￿ed assets as Ihe irustee5 are unable to obtain a reliable measure of value
thout undue cosl.
19.
Investrnents
Listed
imiestrnents
Investrnent
propety
Total
Cost or valuation
At 1 April 2024
Other movements
Carying amount at 31 March 2025
575,C
633,386
307
633,S93
307
58,693
575.000
Al 31 Mard) 2024
575,000
633.386
All investments shown above are held at valuation. The listed irNestments are held in an (yerkended inveslment
fund managed by Chartes Stanley & Co.
The investment proFW, Springfield Cottage, is 0)￿dered material in temis of value, representing more than 50
of the charity's total investments. The investment property was valued during May 2022 by James Elliott IMNAEAI
of Davis Tate. The matket value of the property was u)nsKJeFed to be £575.W) at 31 March 2022. The trustees
consider that this value is unchanged at 31 March 2025.
20. Debt0￿ arKI prepaid expen*s
2025
2024
Grants rÈceNable
P￿paid expenses
Gift Aid due
Other debtors
6,6S5
1,206
4,671
1,019
132
350
6.172
250
8,141
-16-

The Anne Carpmael Trust (CIO)
Notes to the Financial Statements
For the year ended 31 March 2025
21.
Creditors: amounts falling due within one year
2025
2￿24
Accruals and deferTed inu)me
1,554
22.
Analysis of charitable funds
Unrestricted funds
General
funds
At 1 April 21r24
Incorne
Expenditure
TransfeT fr(xn Resthcte(l FuThJs on captslisation of asset
Gains and Ilossesl on investments
At 31 Maith 2025
1,604.202
30,804
(37,935)
6,431
467
1603 969
At 1 April 2￿23
InGome
Expenditure
Transfer from Restitted Funds on tstxtalisatiM of asset
Gains and Ilosses) on investments
At 31 March 2024
1.614.132
26,022
140,9961
1,604.202
During the yearthe tharty receNed a rEStFIc￿ grantfrom Oeparbnenl of Envimrnent and Rural Affairs for
improve accessibilty via seating. The cost has been rapitalised and the corresponding amount of grant has
been Iransferrwl from restn"¢Aed fun(ts to unreslrthl fur)ds Vthere depre(iation will tharged over the life
of the asset.
The Trustees have 8greed to set wde a de5wnated reserve of £41.lJJJ lo enable allemattons and
ac￿￿81tH1￿ enhan(*ments to Ihè Sludy C*.
Restricted funds
Al
1 April 2024
In¢yyne
Expenditurel
Transfer
At
31 March 2025
oxfordshi￿ County Council
ChiKem Conservation Board
Department of Environment and Rural Affairs
Mend the Gap
(1,5001
(360}
16.685)
12,954
21.499
360
36,685
63.807
I.0￿ 102.352
30.000
51,903
81,903
At
1 Aprd 2023
At
31 March 2024
Income
Expend¢tu
Gatehampton Trust
Dorothy Holrnes Tttsst
South Oxfordshire District CO￿￿1
Goring Fishing Club
Oxfordshire County CouThil
Goring Gap News
ChTltom conservats"￿ Board
Mend the Gap
(5fK)}
{1,(KM)I
I￿1)
[2,1￿}
12.986}
{2,(Kill
{3,1711
2,986
1.(J)) 1.000
3.171
1.050
1,050
3.4￿ 10.657
13.09
-17-

The Anne Carpmael Trust (cio)
Notes to the Financial Statements
For the year ended 31 March 2025
22.
Analysis of charitable funds ¢ontinued
The restrided furKls are held forthe folh)wro purposes:
Oxfordshire County Council" funding for essential tree surgery iequired for h8aith and safety
purposes.
Chiltem Conservation Board.. a grant was provKled under the FamiiThJ in Protected Landscapes
Programme to fund training in sC￿hIng
Departmènt of Environmerrt and Rural Affair5". two grants were recewed. £30.(￿ as match funding for
the new boardwalk project and £6,685 to unprove accessbility via seabng and bicyde rad¢s.
end the Gap.. a grant to er￿ble the replacement and upgr* ofthe ojrrent boardwalk in Wthymead to
gne that wll allow access lo the reseNe for those with mobilty problems.
23. Anatysi$ of wets between funds
General
Reserves
Restricted
Reserves
Total
Fund balances at 31 March 2025 are
represented by:
Tangible fixed assets
Investment
Current assets
Currerrt b.ats"l￿eS
3,367
633,893
68,463
1.554
1.603,￿9
989,635
633,693
64,098
14,3651
81,￿3
1,685,872
General
Restricted
Reserves
Total
Fund balances at 31 March 2023 a
represented by:
Tangible fixed assets
Investment
Current assets
Current liabilitses
917,355
633.386
55,016
1.554
1.604.203
917,355
f￿3,386
56,066
1,554
1.605.253
1,050
1.050
24.
Related Party Trar&7ctÈons
There were no rel*ed party transaclK)ns reqL¥ring disdc6ure.
-18-