REGISTERED CHARITY NUMBER- 1205327 R•port of the Trustges and Unaudlted Flnanelal Ststements for the Period Ended 31 May 2025 for THETURLEY CHARITABLETRUST S&W Partners Imancheslerl Limited Accounlanls Northern Assuran￿ Buildings 9-21 Princess Street Manchester M2 4DN THE TURLEY CHARITABLE TRUST Contents of the Financial Statements for the period ended 31 May 2025 Page Trust Infomiatlon Report of the Truslees 2104 Independent Examiner's Report statemgnt of Financial Activiti95 Balance Sheet Notes to the Financial Statements 8 To 11 THE TURLEY CHARITABLE TRUST Trust Information for the period ended 31 May 2025 Reference and administratlvè datalls Registered Charfty number 1205327 Register•d officè Turley Associales Transmission e Alherton Street Manchester M3 3GS Trustees A Browne LCHart OJCarr C Patel P J White Indepéndènt Examlnèr S&W Partners Imancheslerl Limited Accountants Northern Assuran￿ Buildings 9-21 Princess Street IAanchesler 240N Bankèrs Yorkshire Bank plc 48- 50 Market Street Manchester Mfj 1PW Page 1 THE TURLEY CHARITABLE TRUST Report of the Trustees for the period ended 31 Iblay 2025 The Iruslees present their report wilh the financial slalement8 ol Ihe charity foi the perfod 8nded 31 May 2025. Please refer to page 1 for the regislralion number. address of the principal olflce and the names ol the trustees who servèd during thè pérlod. The trusle¢s have adopted the provisions of Accounting and Reporting by Charities.. Slaletnenl of Rècommended Practice applicable lo charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in (he UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191 (Charities SORP IFRS 10211. The Fund's goveming document is the Dedaralion of Trust executed 20 October 2023. Objectives and a¢tivitie¥ Policlss and oblèetlvès The Turley Charitabk Trusl was founded and registered with the Charity ComTnlssion {R8gistration nltmber 12053271 on 20 October 2023 as a charity lo provide funds for.. al The prevention or rdiel of ￿VertY', bl Th6 sdvancemènt ol hèalth., cl The adv8nGOtngnl of gducation.. dl The advancement of ar(5, culltsre, heritage or science,. el The p￿servatiOn, conservation and protection of the enwronmenl and the prudent use of resour¢es,' The ralièf of poverty and the improvement of the conditions ol life in SOGially and eoonotnically disadvantaged communities.. gl The promotion of suslainable means of achieving econcKnic growth and reggnèration. Sustainable development rneans development which meets Ihe no¢ds of the present without compromising the abilily of future ganÉrations to mÉat their own needs. Trustees can make funds available for such legally charitable pu¥poses as they In Ihelr absolutè discr6tion determine. The trust deed authorises trustees lo make and hold inve8lmenls Publlc benefll The trustees confi¥m that Ihal Ihey have refeiied lo the guidance contained in the Charity Cornmission's general gLJidance on publlc benefit when reviewng the Charity's aims and obJ'pdivp.s and in planning future aclivilies. Achièvemènts and pèrfoymanc Charitable activÉtiè5 The trustees have maintained their donatson strategy and cornmunic81ion plan whlch has rEsulted in a high dgoree of engagement wth the Settlorfs co-owners. A number of donations have been made in lurlherance of the Trust's aitll8 and n ¢onsutt8tion with tho Solllor's co-owners. In the p8sI year the trustees have continued to work wilh Charity Champions, who are local representatives ol the Setllor's cckownerg, to id6nlify projecls that meet the Charity's aims. Doing 50 has increased the level of Iccal enoagemenl in the work ol the charity and the donation requests that the Charity ha5 been able lo supporl. To support this work the Trust offers match funding for all lunds raised by co-own8rs. Regular financial donations are now made to 10 charitable projects in each of the Seltlorfs office Iwalions. In turn, r618lionships have been formed with those leading the charitable projects supported and regular feedback on progross Is received by the trustees who are satisfi'ed that donalK>ng providÈd aré well used, The trustees have arranged opportunilifys f(Y co-owners lo engage in charitable work in the UK and with its partner charity overseas. Page 2 THE TURLEY CHARITABLE TRUST Report of the Trustees for the period ended 31 May 2025 FÉnandal revlew Financial positlon During lh¢ perlod the Trust's income Irom all SOUF¢es amounted lo £52,534 {2024.- £52,819). Resources expended on charitable activities lolalled £51,34312024', £52,819), The lotal accumulated unreslricled funds of the Trust at 31 May 2025 were £3.392 12024.. £2.2011, The Trustees consider thal the financial position al 31 May 2025 was $81isfaetory. Inve¥tment policy and objectivès Tha trust proposes lo continue to hold ils fund in cash held al bank for the foreseeable future, given th81 the funds are relatively modBSt and are available lo b8 given as donalitsns in the short lo medium term. Reserves pollcy The Trusl maintains the reserve5 01 th8 charity in order lo meet capital contingencies which may arfse Irom lime lo time. Reserves held 81 the end of the year were £3,39212024'. £2,201), Going conc8rn After making approprk4te enouiries the ITU8lees have a reasonable expectation thal the charity has ad8qUatè rèsources to eontinué in operational existence for the foreseeable future, For this rèason they conliniig lo adopt thè going concern basis in weparing the financial stalernen18. Further details règ8rding the adoplion of the going concBrn basis cali be IoLJnd in the accounting policies. Future plans The TrustÉÈs will continue tc> provide services in accordance wllh the objectives as staled above and look forward lo maintaining a dose working relationship with the Sottlor. Donated servlces Turley Associates Limited have directly funded tho independent examiners and governance cost of £1,500 and this has been recognised within incoming Te80urces as a donation with Ihe equivalent charge induded within reSour￿S expended. Page 3 THE TURLEY CHARITABLE TRUST Report of the Trustees for the period ended 31 May 2025 structure, governance and management Re¢ruitment and appoinlment of new trustees The management of the charity is the responsibility of the Trustees who are elected and ctropled under the lemis ol th$ Trust deed. The selllor (Turley Associates L¥niledl is aulhorised lo appoint new Trustees lo fill vacancies aiising through resigiialion or death of an existing Trustee. Related parties The chaiity works closely with ils Selllor, Turley Associate8 Limited, in dellvery of its charilable objectlvgs. Transacllons with Turfey Associate5 Limited are shown in ￿)19 12 of the financial stalomenls. Risk management Inlgrnal control risks are minimised by the implementation of procedures for aulhorisalion of all transactions gnd projects, Procedures are in place lo ensLsre compliance with health and safely regulations. t￿rInq the year the T¥uslees conlinu&l lo mainlaill systems and procedures lo mligale the rlsks the charity faces and maintain procedures lo minimise the potential impact on IhÉ charity should those risks matèrialise. Tha Trustees have key controls in place to manage those risks. The major risks lo which the Trust 18 exposed have been revlewed by the Trustees and procedures are in place lo manage those risks. The rnain risk for the char*ly is.. Donations being given lo an organisalion which does not spend the donalioll in line with the Ttusl's ¢haTrlabl8 objedwes. To miligale this risk.. Donor organisations are proposed and seleoled on an office by office basis collectively by all who in e8¢h offic¢ and subjed lo an assessment process by the Trustees. Charity (yiowne¥s and Trustees do, in many ¢ases, play an active role in managing the relationship with each donor oiganisalion, statement of Trustees, responsibilities The Trustees are responsible for preparing the Trustees, Report and the financlal slalemenls In accordance with applicable laws and regulations. The Gharilies Act 2011 requires the Trustees to prepare finanrial slalemenls for each fIna￿Cial ye2r. The Trustéès havè In prppare the financial statements in acC￿rdanC￿. with United Kingdom Generally Accepted Accounting Practice (Unhèd Kingdorn Accounting Slandaids 311d applicable lawl. The Trustees musl not approvg tho finallcial slalemen15 unless IhEy are satisfied Ihal they give a true and fair view of the slal8 of affairs of the charity and of the inc￿1￿0 resources and application of resources, including the income and exp8fTdilure, of th8 charity forlhai psriod. ltt preparing thèsè financial slalemenls the Trustees are required lo.. Select suitable acwunling policies and then appty Ih9rn (x)nsislenlly', Observe thè methods and principles in the Charities SORP., akejudgemen15 and estimalES that are ¥e350nable and prudent. Prepare the financial slalemenls on the going concern basis unless il is inappropriate lo presume that the charity will continue in business. The Trustees are responsiblè for keeping adequate accounting records that are sufftcignl to Show and exp￿1￿ the charily's transactions and disclose with reasonable accuracy al any lime the firiancial position ol the charily and enable them to ensure that (he financial statements ccxllply with the Charities Act 2011. the Charity IAG¢ounls ar￿ Reports) Regulations 2008 and the provisions of the tiusl deed. They ale also r8sponsible for saf8guardlng the assèts ol the charity arKI hence for taking reasonable steps lor the preventK)n and deledion of fraud and other itregularities. Ant)roved by order of the board ol Irisslees on 2610112026 and signed on Its behalf by.. A Browne- Trustee Page 4 THE TURLEY CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 31 MAY 2025 IndèpBndent Examlnèr's Roportto thè Tru&teès of Turley Charltabl8 Trust (the charftyl I r8POrt on the 3CEDunts Df the charity fDrth8 p2rlod ended 31 May 2025, whkh are sel out on pages 6- 11. This report ￿ made solely lo the ch8rily'È 1ruste￿, as a body, w accordance wih the regulalions made unde¥ Section 154 oflhè Charitie5 Act 2011. My wark has been uRd2rtaken so thal I mlgm stale lo the Gharity's Trustee5 those rnatters l atn requlr@d 10 81ate lo them in an indep6ndent examlnaes report and for no other pts￿0$£. To the fullest extent permilled by law. I do Trot accepl or assuma responsibilrfy lo anyone ather than the charity and the charity'5 Trustees as a badyy for Tny Wotk, for this report, or lor Ihe DplnlDns I have formed. Re5ponslbllltles and basls of rBport The Gharilws trustees are fesponsiNe for the preparation of the accounls. The charitsls INstees Gonsider that an audlt b not ffquI￿d for the year und&r Sèction 144121 of tha Charilk)s Act 2011 and that an Independenl examlnallon Is needed. Having satisfied myself that accounts ofihe Charity are nol iequiied lo be audited under Part 18 of the 2006 Act and are eliglbk for Ind8pèndenl examina110￿. l ieport In respéct of my 8xamlnallw of your chailly's accounts as cariled out und8r Saclion 145 of the Chari[￿S Act 2011 I'lhe 2011 Acl'l. In carrylry oul my 8xamlnation I h8V8 follow8d the Direalions given by the Charity Commissig und&r Se¢lion 145151 Ibl of the 2011 Act. Independent 6X8mlneVs Statement I have completed my exaMI￿all0￿. l Gonfitrn that fjo mgllers have come lo my allenlion in oonneGllon wth the exattElnallon glvlng me cause to ben8ve'. aGGDUllting records were not kept In iespecl of Ihe Gh8rity a5 requlrEd by Seslbn 130 of the Charltl8s Act 2011., or 2 the accounts dts not accord wfth thosé tscordg,. or 3. the 8GGounts do not wtDply wlh the appliGgble ieqJlrement$ concernSng IhÈ form and contenl of accounts Sèl out in th8 ChaiilEs (Accounts and Reports) Regulations ?008 other than any requiiemelll Ihal the accounts gW8 a true and fairview which is Dot a maller consldeied a5 Part of 8n lftdependent examInst1￿, I hav8 no contsrns and have com8 across Jo othèr malt8r8 In conn8cllon with the examination lo whicl attention should be drawn in this report in order lo enabb a pioper undetslandifi9 of lh8 gccounls lo be leachèd. David M Fort FCA S&W Partners IManche5terl Llmlted Accountants Date.. 3rd Floor Northern AssuranGB Buildlngs 9-21 Piinc8$s Str681 ManGhE51er M2 4DN 2710112026 Page B THE TURLEY CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 MAY 2025 Notes Unrestricted funds 2025 Total funds 2025 Unrestricted funds 2024 Total funds 2024 Incomp Donations and16gacies 52,534 52,534 52,819 52,819 Tolal Income 52,534 52,534 52,819 62,819 enditure Charitable activities Support costs 49,813 1,530 49,813 1.530 51.319 1,500 51,319 1,500 Total expendlture 51,343 51,343 52,819 52,819 Net movement in funds 1,191 1.191 Reconciliation of funds: Total funds brought forward Funds Ir2nsferred from The Turley Associates Charitable Trust 2,201 2,201 11 2,201 2,201 Total funds carried fomard 3.392 3.392 2,201 2,201 All amounts relate lo continuing activities and unrestricted funds. The charity has no recognised gains or109seg othèr than the results lor the year as sel out above, Income and expenditure are measured under the historical cost convention. The notes on pages 8 to 11 fom) part of these financial slalemenls. Page 6 THE TURLEY CHARITABLE TRUST Registratlon numb8r: 1205327 BALANCE SHEET AS AT 31 MAY 2025 Notes 2025 2024 Current assets Debtors Cash at bank and in hand 51.319 2,201 53,520 3,392 3,392 Current liabilities Creditors 10 151,3191 Net assets 3,392 2,201 Funds Unrestricted funds 3,392 2,201 Total funds 3,392 2,201 The fi'nanci81 statèments were approved by the Board of Trustees ore610112026 their behalf by.. and signed on A Brown (Trijsteel The notes on pages 8 to 11 form part of these financial statements. Page 7 THE TURLEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MAY 2025 l General information The Turley Charitable Trust is an vnincorporaled charity registered in England and Wales. The charity's registration number and principal office address ars on page 1 of these financial stalemenls. 2 Accountlng policies Th& princip81 8ccounling policies adopted, judgements and key sources of estimation uncertainly in the prepamlion ol the financial statements are as follows.. a) Basls of preparlng thè financial statemènts The financial statements have been prepared in accordance with the Char¢lies SORP IFRS 1021- Accounting and Reporting by Charities.. Slalemenl of Recommended Pr8¢1ice applicablè lo charities preparing their accounts in accordance with the Financial Reporting Standard appliGable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 20191, the Finan¢ial R&porting Standard 8ppIic8ble in the UK and Republic of Irsland (FRS 1021 and the Chaiilies Act 2011, The financial stalttmenls have been prepared lo give a 'lru8 and fair, view and have departed frorn the Charities (Accounts and Reports) Regulations 2008 only lo the extent required lo provide a 'lrue and fair view,. This departure has involved following the Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issu8d in October 2019 rather than the Accounting ancl Reporting by Charities.. Slalemenl of Recommended Practice effective from 1 April 2005 which has Sin￿ been withdrawn. The Turley Associates Charitable Trust me81s the definition of a public benefit enlily under FRS 102. Assets and liabilities are initially re¢ognised at historical cost or transaction value unless olherwige slgled in the relevant accounting policy. b) PrÈparatlon of flnanclal statements on a going concern basis The financial statements have been prepared on a going concern basis Nvhich the Trustees con8ideT lo be apopropriale for the following reasons.. The aclniilies ol the charity are lim￿ed lo dislributing funds provided by ils settlor, Turley A&sociales Limilod. and the charity has no spec41ic commitments and no GDmmiled costs. The Tiuslees have considered a severe bul plausibl& downsidè scenario in which the level of donations is reduced to £nil for the next 12 months. Given the charity's operating model, wherby ils ac11vilies are to make discretionary payments lo other charities and charilable a¢livilies from donations rec8ived. even Irk this scenario the charity will have sufficiènt lunds lo continue in operation for the foreseeable future, being a period of al least 12 months from the dale of approval of the financial slalemenls. and meet its liabilities as they fall due for that period. c) Incoming resources All incomg is recognised once the charity has enlillemenl to the income, il is probabl8 that the income will be received and the amount of income recelvable can be measured reliably. Pag6 8 THE TURLEY CHARITABLE TRUST NOTES TO FINANCIAL STATEMENTS (CONT.) FOR THE PERIOD ENDED 31 P4lAY 2025 1 AGGounling policies Icontinuedl d} Resources expended Liabilities are recognised as expenditure as soon as there is a legal or conslruclive obligation commilling the charity lo that expenditure, il is probablé th81 a transfer of economic bgnefils will be required in selllement and the amount of the obligation can be measured reliably. Expenditure is 8ccounled for on an accruals basis and has been classified undtrr headings that aggregate all cost felated lo the category. Where ¢osls cannot be directly allribuled lo particular headings they have been allocated to activities on a basis consislenl with the of resources, Costs ol generating funds are thos& costs incurred allr8cling voluntary income. and those incurred in trading activities that raise funds. Charitable a¢livilies costs are costs incur¥ed on the charity's opeTalion8. Governance costs includè those incurred in the govemance of the charity and ils assets and 8re primarily associated with constilulional and slalulory requirements. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management Costs carried out at headquarters. e} Cash at bank and in hand Cash al bank and in hand iTrcludes cash and short term highly liquid Investments with a short maturity of threé months or less from the date of acquisilK)n or opening of the account. Q Fund aGcounting Unrestricted funds compris6 the acctjrnulaled surplus or deficit on the statement of financial aclNilies. They are available for use at the discretion of the Trustées in furtherance of the general obje¢lives of the charity. g) Financial instruments The charity only has financial assets and liabilit￿8 which qualify as basic flnanclal instruments, Basic financial instruments are initially recognised al transaction price and subsequently measured al their selllement value unless the arrangement conslilules a financing transaction wheie the transaction is measured at amortised cost usin9 the effective rale of inlertssl. Page 9 THE TURLEY CHARITABLE TRUST NOTES TO FINANCIAL STATEMENTS ICONT,) FOR THE PERIOD ENDED 31 MAY 2025 3 Income from donatlons and 18gacigs 2025 2024 Donations 52,534 52,819 All incorne from donation8 is unrestricted. 4 Charitable expenditure 2025 2024 Promolion of education Relief of ill health and poverty Oveiseas aid 1,205 34,608 18,250 33,069 49,813 51,319 All Gharitable expenditure is unrestricted. S Support costs 2025 2024 Independent examlne¢8 feé Bank charges 1,500 30 1,530 1,500 1,500 Support costs are allocald l 00% lo charitable aclivilie8 6 Trustèes, rèmuneration and benefits During thè year, no Trustees received any remuneration, benefits in kind or reimbursement of Èxpenses 7 Staff costs The charity had no empk)yees dLJring the year No employees received emoluments ex¢eÈding £60,OOCI. Page 10 THE TURLEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONT) FOR THE PERIOD ENDED 31 MAY 2025 Debtors 2025 2024 Other debtors Cash at bank 2025 2024 Cash at bank 3,392 2,201 10 Creditors 2025 2024 Other creditors 51,319 11 Analysls of net assets between funds Balance at 1 June 2024 Balance at Expenditure 31 May 2025 Income Unrestricted funds General funds 2,201 52,534 61,3431 3,392 Total funds 2,201 52,524 151,3431 3,392 12 Related paty transactions Turley Associates Limited contributed £51,034 {2024'. £51,319) to the charity and paid £3.03412024.' £51,319) donations on 115 behalf during the period ended 31 May 2025, As the Turley Charitable Trust did not have a bank account until post 31 May 2024 these amounts were shown as debtors and creditors on the balance sheet at that date, Turley Associates Limited is a related party as the company is the founder of the charity. Page 11 The Trustees The Turley Charitable Trust Transmission 6 Atherton Street Manchester M3 3GS Charity number: 1205327 S&W Partners (Manchester) Limited Northern Assurance Building 9/21 Princess Street Manchester M2 4DN ## Dear Sirs The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your independent examination of the charity’s financial statements for the year ended 31 May 2025. These enquiries have included inspection of supporting documentation where appropriate. All representations are made to the best of our knowledge and belief. ## **GENERAL** We acknowledge that the work performed by you is substantially less in scope than an audit performed in accordance with International Standards on Auditing (UK and Ireland) and that you do not express an audit opinion. We confirm that the charity was entitled to exemption under section 144 of the Charities Act 2011 from the requirement to have its financial statements for the financial year ended 31 May 202 audited. We have fulfilled our responsibilities as trustees, as set out in the terms of your engagement letter dated 30 April 2024, for preparing financial statements in accordance with applicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounting Practice), for being satisfied that they give a true and fair view. All the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All the accounting records and related financial information, including minutes of all management meetings have been made available to you for the purpose of your work. ## **ASSETS AND LIABILITIES** The charity has satisfactory title to all assets and there are no liens or encumbrances on the charity’s assets, except for those that are disclosed as appropriate in the notes to the financial statements. All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as appropriate. We have no plans or intentions that may materially alter the carrying value and, where relevant, the fair value measurements or classification of assets and liabilities reflected in the financial statements. ## **ACCOUNTING ESTIMATES** The methods, data and significant assumptions used by us in making accounting estimates, and their related disclosures, are appropriate to achieve recognition, measurement and disclosure that is reasonable in the context of the applicable financial reporting framework. ## **LOANS & ARRANGEMENTS** The charity has not granted any advances or credits to, or made guarantees on behalf of, trustees other than those disclosed in the financial statements. ## **LEGAL CLAIMS** We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for and disclosed in the financial statements. ## **LAWS AND REGULATIONS** We have disclosed to you all known instances of non-compliance or suspected noncompliance with laws and regulations whose effects should be considered when preparing the financial statements. ## **RELATED PARTIES** Related party relationships and transactions have been appropriately accounted for and disclosed as required in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with the requirements of charity law or accounting standards. ## **TRUSTEES’ CURRENT ACCOUNTS** We confirm that at the year end the trustees had no balances with the charity. ## **TRUSTEES’ REMUNERATION** We confirm that no remuneration was paid to the trustees who served during the year. ## **SUBSEQUENT EVENTS** All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed. ## **GOING CONCERN** We believe that the charity's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity's needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the charity's ability to continue as a going concern need to be made in the financial statements. ## **GRANTS AND DONATIONS** All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions in the application of such income. Yours faithfully .............................................................................................. Signed on behalf of the board of trustees The Turley Charitable Trust Date: 26/01/2026