George Fentham Birmingham Charity (A Charitable Incorporated Organisation) Annual Report and Financial Statements Period ended 31 December 2025 Charity number.. 1204784 CIO number: CE033583 Feltons Chartered Accountants Birmingham B13JR GEORGE FENTHAM BIRMINGHAM CHARITY Report and flnanclal statements Year ended 31 December 2025 Contents Page Reference and adrninislrative details Report of the trustees Independent Auditols report on the financial statements Statement of financial activities Balance sheet 10 Notes forming part of the financial statements, incofporats'ng.. Statement of accounting policies 11 Other notes lo the financial stslements 14 Appendix 1- Grants distributed in year to 31 December 2025 18 GEORGE FENTHAM BIRMINGHAM CHARITY Reference and Administrative Details Chair Mr M. Holcombe Trustees Dr C. Hon Ll Mrs J. Scarrati Mr P. Tunnadine Mrs S. Watts Iresigned 22 October 2025} Mr H. Naylor lappoinled 18 June 2025} Mr R. Gafside {8ppoinled 14 January 20261 Secretsry Mrs J. Hobday Principal office and Solicitors Veale Wasbrough Vizards LLP Second Floor 3 Brindleypla Birmingham B1 2JB Charity number 1204784 Independent auditor Feltons 8 Sovereign Court 8 Graham Street Birmingham 813JR Bankers Lloyds Bank PIC 1141116 Colmore Row Birmingham B3 3BD Investment Manager Evelyn Partners 703 Colmore Row Birmingham B3 3AG Website www.georgefentham¢harity.org.uk GEORGE FENTHAM BIRMINGHAM CHARITY The trustees present their annual report together with the financial statements of the charity for the year ended 31 December 2025. Objectives and Activities POLICIES AND OBJECTIVES Under its consb'lulh)n dated 19 September 2023, the objects of the ehanty a￿.. 11 the relief of those living in the City of Birmingham in need, by reason of youth, age, ill-health, disability. financial hardship or other disadvantage, and 21 the relief of those living in the City of Birmingham in need in relation lo edu¢ation. The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives in establishing ils grant making policy and planning future aclivilies. In particular, the trustees have considered how planned activities will contribute to the aims and objectives set. GRANT MAKING POLICIES Applications should be made to the secretary by email lo available to download on the charity's website - hlt s IIVJWW. eoraefenlham vwv.co. uk using the forms that are eor elenlhamcharil .oro.ukl. Details of the Iruslees, grant making crilerta can also be found on the charity's website together wrth FAQS about the process and conditions of grants. Achlevements and performance REVIEW OF ACTIVITIES The charity's financial statements are set out on pages 9 to 17. A representslive year on year comparison of performance is not possible as this is the first full accounting year following incorporation. Incoming resources in the year amounted to £269,589111 months to 31 December 2024.. £8,194,135, including £7.943,315 arising on the transfer of operations on incorporation to a CIO). All income in the current year was unreslricled {2024.' £569,620 unrestricted and £7,624,515 endowed). Expenditure during the year totalled £267,12212024'. £194.8821. comprising support costs, govefnanee and costs of raising funds. The trustees utilise the services of Birmingham Settlement to act as agents in making distrlbulions on their behalf. Grants and dorsalions awarded during the year. including those made via the charity's agents, amounted to £156,939, with a further £6.150 being awarded directly to individuals attending Higher Edu¢ation institutions 12024.. £101,665 and £10,250 respectively} Realised gains on investment disposals were £60.485 (2024.. £196.497), and the market value of investments increased by £802,54612024.' £431,124). Overall. the charity reported a nel increase in funds of £1.757,424. comprising £32.214 of unreslri¢led fvnds and £1.725,210 of endowed funds12024'. £8.415,675. comprising £398,206 unrestricted and £8,017,469 endowed). INVESTMENT POLICY AND PERFORMANCE There are no restrictions on the charity's power to invest. The trustees have appointed investment managers on a discretionary basis who reF)Ort to the trustees al their quarterly meetings. Page 2 GEORGE FENTHAM BIRMINGHAM CHARITY The trustees, objectives are.. 11 the creation of a sufficient financial return lo enable the charity lo carry out its purposes effectively and without interruption. To achieve this, the Iruslees sel annual targets for nel income. The largel for the year ended 31 December 2025 was £200,00012024.. £200,000).. 21 the maintenance and enhancement of the investment funds in real terms whilst they are invested.. 31 to obtain a reasonable balance between capital growth and income so that the charity can meet future as well as current needs., and 41 to avoid investments that are unduly risky. The funds may be invested in any type of investment. The trustees, policy is lo invest in an appropriate mix of assets e.g., propety. equities, fixed interest and monetary assets. The Iruslees recognise that the feturns on equities, while expected to be greater over the longer-lerm than those of fixed interest and monetary assets, are likely lo be more volatile. Inveslrnenl in a mix of asset classes should nevertheless provide the levels of relum reqUi￿d and mitigate volatility for the charity to a¢hieve ils objectives. The trustees have Considered and, after consideration, have decided not to pursue a policy of ethical investments. Financial review RESERVES POLICY 11 is the policy of the trustees lo distribute the majority of the unrestricted ineorne each year and to hold very little in the way of reserves. The trustees are of the opinion that the balance sheet discloses funds adequate for the purpose of fulfilling the obligations of the charity. structuro. governance and managomgnt CONSTITUTION The charity is a Charitable Incorporated Orgarsisalion with a constitution registered with the Charity Commission on 19 September 2023. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The managemenl of the charity is the responsibility of the trustees who are nominated or co-opted under the terms of the constitution. The Iruslees who served during the period are set out on page 1. Under the constitution, the ¢harity may have a maximum of six appointed trustees and four nominated IrLtstees. The appointed trustees shall be persons who through iesidence, or occupation or employment, orolherwise have special knowledge of the City of Birmingham. The nominated trustees shall be appointed as follows.. two by Birmingham Settlement and by the Council of the University of Birmingham. Future co-opted trustees shall be appointed by a resolution of the existing trustees. Future nominated trustees shall be appointed according to the ordinary practi￿ of the relevant appointing body. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES The trustees lake such action as they ¢onsider necessary to keep themselves informed of changes in charity law and governance. GEORGE FENTHAM BIRMINGHAM CHARITY ORGANISATIONAL STRUCTURE AND DECISION MAKING All matlers of poli¢y and management are determined al the regular meetings of the trustees usually held four times a year. The trustees have appointed a su&committee to deal with educational grant applicab'ons. The Iruslees who served during the period are.. Mrs J. Scarratt, Mrs S, Watts and Dr C. Hon Li. The charity does not employ any staff and hen￿ has no paid key management personnel. RISK MANAGEMENT The trustees have assessed the majoi risks to which the charity is exposed, in particular those related lo the operations and finances of the charily, and are satisfi'ed that systems and procedures are in place lo miligale our exposure lo the major risks. The trustee5 keep under review the major strategic and operational risks which the charity faces and are satisfied that systems have been established in order to minimise the possible effects of such risks on thè charity. The principal risks faced by the charity lie in the performance of investments and the capacity of the charity lo make effects've grants. The main risk lo the charity Irom financial instruments lies in the combination of uncertain investment markets and volalilily in yield. The charity is reliant on dividend yield lo finance ils work. Liquidity risk is anticipated to be low as all assets are traded. 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 lo 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 diversifi￿tion of holdings within investrnenl classes that are quoled on recognised stock exchanges. The charity does not make use of derivatives and similar complex financial instruments as it lakes the view that investments are held for their longer-lerm yield total return and historic studies of quoted financial instruments have shown that volatility in any particular 5-year period will nomially be corrected. The risk of lack of capacity to make effecttve grants is mitigated in part by the establishment of a sub