THE GEORGE TOWNSEND CHARITY
A Charitable Incorporated 0rgani5ation
REGISTERED CHARITY No. 1206457
THE ALMSHOUSE ASSOCIATION No. M1964
FINANCIAL STATEMENTS
FOR THE 12 MONTHS ENDED
31 DECEMBER 2025

THE GEORGE TOWNSEND CHARITY
LEGAL AND ADMINISTRATIVE INFORMATION
Charity No.
The Almshouse Association No.
1206457
M1964
Trustee5
Mr W M Sirnpson Ichairl
Mr S M Gravett (Treasurer)
Mrs D Aaron
Mr E Cufflin
Mrcs M Mitchell
Mrs D Taylor
Registered cffice and principal addres5
Charity Link
20A Mlllstone Lane
Leicester
LEI 5JN
Investment Advisers
Charles Stanley & Co Limited
Friars Mill
Bath Lane
Leicester
LE3 5BJ
Independent Examiner
MrAJ Munton
The properties are vested in the Official Custodian for Charities in accordance with the Charity
Scheme ofThe George Townsend Charityfor Widows and Spinsters (Registered Charity Number
5127531. The properties were transferred to the Charitable Incorporated Organisation on 315t March
2024 but remair) vested in the official Custodian for Charitie5.

THE GEORGE TOWNSEND CHARITY
ANNUAL REPORT
12 MONTHS ENDED 31 DECEMBER 2025
The Trustees present their report and accounts as a charitable incorporated organisation ICIOI for the 12
months ended 31 December 2025. This report 15 prepared in accordance with the charity constitution and the
recommendation5 of the Statement of Recommended Practice - Accounting and Reporting by Charities and
complies with applicable law.
Objects
The principal object of the charity is to provide benefits to residÈnts of alm5house5 and other qualifying
persons being widows or spinsters of 45 years or over lor if unable to give effect to that provision for poor
female divorcees of 4S year5 of age or overl, preferably. but not necessarily. at Aylestone or Kirby Muxloe in
the County of Leice5ter5hire, by making grants to such persons.
Structure, Governance and Management
The CIO wa5 established tsn 9, january 2024 and is regulated by a constitution. During the year. the assets of
The Geor8e Townsend Charity for Widows ané Spinsters (Registered Charity Number 5127531 were transferred
to The George Townsend Charity.
The Charity is a member of the Almshouse As50Ciation which provided operational and governance support.
The managemènt of the Charity's properties is undertaken by David Sturgis of Sturgis Snow & Astill, Chartered
Surveyors of l The Church Rooms. 6 Church Street, 8arrow upon Soar LE12 8PR.
The Charity's investments are managed on a discretionary managed basis by Andrew Baker of Charles Stanley
& Co Limitèd, Stockbrokefs.
Trustees
Details of the Trustees who have Served during the period can be found on page l.
Appointment of Tru5tee5
The constitution provides that the body of trustee5 when complete shall consist of eight competent per50n5.
where there is a requirement for new trustees, these would be identified and appointed by the remaining
trustee5. The chair of tru$tees is responsible for the induction of any new trustee which involve5 awareness of
trustèè's responsibilities, the governing document, administrative procedures, the history and philosophical
approach of the Charity.
Public Benefit
The Trustees confirm that they have referred to the Èuidance contained in the Charity Commission s general
guidance on public benefit when reviewing the Charity's aims and objectives, and in planning future activities.
Administration and Meetings
The Fund engages the services of a Clerk to the Trustees to look after the day to day functions and arrange
meetings of the Board of Trustees. The Trustees held three meetings during the period and received regular
reports on the management of the properties held by the Charity and on the performance of the investments
held by the Charity.
Rlsk Management
The trustees have examined the major 51rategic, business and operational rlsks which the Charity faces and
confim that systems have been establlshed to enable regular reports to be produced so that the necessary
steps can be taken to lessen these risks.

THE GEORGE TOWNSEND CHARITY
ANNUAL REPORT
12 MONTHS ENDED 31 DECEMBER 20Z5
Actlvltles, Achievement5 and Plans for the future
During the year, five residents have enjoyed a modest discount on commercial rental rates for their
accommodation.
A grant of £2,000 was 8150 made to Charity Linkto a5515t poor widows, splnster5 Qr female divorcees of 45
years of age or over with housing cost5.
The properties have been maintained in good order for the residents. Surplus fund5 have been invested with
view to possible acquisition of a further property for use In accordance with the objects of the Chacity in due
course.
The trustees of The George Townsend charity for Widows and Spinsters applied to the Charity Commi55ion to
convert the Charity into a Charitable Incorporated Organi5ation ICIOI, whlch was reglstered a5 surh on 9,
january 2024. The former charity has now been di5505ved.
Investment Powers
The trustees have a general power to invest the funds as if they were absolutely entitled to the trust fund
conferred upon them by the Trustee Art 2000.
At the year-end, the market value of the investment portfolio was £264,436, excluéing un-lnvested c35h,
compared with £225.655 at 31 December 2024.
Investment Selealon Poli(y
In man3girtg the investments and maklng or varying the investments, the Investment Managers mvst have
regard to the following CTlteria.
l. The suitability of the Charity investments of the same kind as any particular Investment proposed to be
made;
2. The 5Uitability of that particular investment as an investment of that kind, and
3. The need for diversification of the investments of the Charity so f3r as is appropriate to the
circurnstances of the Charity.
It is the aim of the Trustees to provide a steady income to contribute to overheads. Our investmènt policy is to
provide for IDnE term capital growth with moderate risk to obtain the steady income described above.
Financlal Review
The statement of financial activities on page 6 shows net incomlng resources for the year of £23,003 Compared
with net incomings of £16.597 at the end of the previou5 period. Income in the year Increased from £27,598 to
£33,466 and total resources expended increased from £17,894 to £37,386. No revaluation of the property was
undertaken in the year under review. It is the trustees. intention to review the amount held in the Emergency
Repair Fund in the coming year.
Reserves Pollcy
It is the aim of the Trustees to keep cash reserves to a minimum whi15t ensuring that the Charity alway5 has
Sufficient fund5 to meet the day to day running cost5 fDr the period of une year, should investmènt incoTne fall
significantly.

THE GEORGE TOWNSEND CHARITY
ANNUAL REPORT
12 MONTHS ENDED 31 DECEMBER 2025
Trustees. Responslbillties
The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards.
Thè law 3pplicable to charitie5 in England & Wale5 requires the Trustees to prepare financial Statements for
each financial year that Eive a true and fair view of the state of affairs of the Trust and of the inioming
resources and application Df resources for the Trust for that period. In preparing these financial statements.
the Trustees are required to..
Select Sultable actountlng policies and then apply them consistently,.
Observe the methods and principles in the Charities, SORP:
Make judgement5 and estimates that are reasonable and prudent,.
State whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the fSnancial statements,.
Prepare the financial statements on the going concern b3515 unless it 15 inappropriate to presume that
the Trust wlll Continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuraq at
any time the financial position of the Trust and enable them to ensure that the financial statements complv
with applicable law, regulations and the Trust Deed. They are also re5pon5ible for safeguarding the a55ets of
the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
Advisers
The Trustees wish to record their thanks to all of their profe55ional advisers for their help and advice
throughtsut the accounting period.
On behalf of the board of Trustees
jo￿
Mrw M simpson
Chair
20° July 2026

THE GEORGE TOWNSEND CHARITY
ANNUAL REPORT
12 MONTH5 ENDED 31 DECEMBER 2025
Independent Examinerfs Report to the Twstees ofThe Gèorge Townsènd Charity
I report to the charity trustees on my examination of the accounts of the charity for the 12 months ended 31
DÈtember 2025 whtch are set out on pages 6 to 13.
RespErtive responsibilities of trustees and examiner
The charlty's trustees are responsible for the preparatign of the accounts in accordance with the requirements
of the Charities Act 2011. The charl￿S trustees consider that an audit is not required for this period under
section 144121 of the Charities Act 2011 Ithe 2011 Act) and that an independent examination is ne¢ded,
It is my responsibility to..
examine the accounts under section 145 of the 2011 Act,.
follow the procedures laid down in the general Directions given by the Charity Commi55ion under
settion 145I5}Ibl of the 2011 Act,. and
State whether particular matters have come to my attention.
Basis of independent examinerfs report
My examination was carried out in accordan￿ with the general Oirertions given by the Charity CommSssion. An
examination includes a review of the accounting records kept by the charity and a comparison of the accounts
presented with those records. It also includes consideration of any unusual items or disclosure5 in the account5
and seeking explanation5 from you as trustees concerning any such matter5. The procedures undertaken do
not provide all the evidence that would be required in an audit and con5equently* no opinion 15 given as to
whetherthe accounts present a "true and fair view, and the report is limited to those matters set out in the
statement below.
Independent examinerfs Statement
I have completed my examination. I confirm that no material matters have come to my attention in
connertion with the examination giving me cause to believe that in any material respect..
accountin8 record5 were not kept in respert of the charity as required by Section 130 of the
Act: or
2. the accounts do not accord with th05e records,. or
3. the accounts do not comply with the applicable requirements concerning the form and
content of accounts set out in the Charities (Accounts and Rpportsl Regulations 2008 other
than any requirement that the accounts give a 'true and fair view, which 15 not a matter
considered as part of an independent exaEnin3tion.
I have no Concerns and have come across no other matters in connection 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.
A£
A J MtJnton- Independent Examiner
52 Westbury Road. Nuneaton, W3rwickshire CVIO 8HG
20th July 2026

THE GEORGE TOWNSEND CHARITY
STATEMENT OF FINANCIAL ACTIVITIES
12 MONTHS TO 31 DECEMBER 1025
Unrestrlcted
Fund
DeslEnated
Fund
ZOZ5
Total
Total
2024
2025
Z025
Incomins and *ndowments from
alaritable actlvStles
Rent5 received
InvesimgTr1 Inwmè
Dividends received
Deposlt Interest
21,119
21,119
19,05Q
10,671
1,676
10,671
1,676
7.320
1.228
Total Income and tndowments
33.466
33.466
27,598
expenditu￿ on..
Charltèble actLVlties
37.386
37.386
17.894
Total regjurces expended
37.386
17,894
Gainslllossesl on invertThent5
26.923
26,923
6.893
Net in¢omlnglloutgingl re50urce5
23,003
23.003
16.597
Other reeoKnl$ed galns/llos5esl
Gain/llosse51 on revaluatlon of Investment property
20,000
Net movement In fvnds
23,003
23,003
36.597
Re¢ontlllaiion of funds:
Fund balance5 brought forward
a5 at lstjanuzry 2025
Fund balances carrled foryiord
at 31st DecembÈr 2025
587,367
20.000
607,367
570,770
610.370
20.000
630.370
607 367

THE GEORGE TOWNSEND CHARITY
BALANCE SHEEr
AT 31 DECEMBER 2025
2025
2024
Note
Flxed assets
Tangible assets
Investrnenl property
335,000
335.000
Investmen15
264,436
225,655
599.436
560.655
Cuvrent a55et&
Debtors
Cash at bank and in hand
937
47,091
31,946
32,930
48,028
Curreni liabllltles
Creditors: amounts falllng due within one year
1,996
1,316
Net current assets
30.934
46,712
Net assets
£630 370
£607,367
R05*rves
io
Designated funds lemergency repair fundl
Revaluation reserve
UnrÈstrkted fund5
20,000
221,374
388,996
20.ODU
221,374
365,993
Total charityfunds
£630 370
607,367
Appioved by the TrusteÈs on 20 July 2026 and slgned on their bphalf by=
Mi W M Simpson
4¢tsv

THE GEORGE TOWNSEND CHARITY
NOTES TO THE FINANCIAL STATEMENTS
12 MONTHSTO 31 DECEMBER 2025
Bas15 of preparatiDn
The Gporge Townsend Charrty Is an incorporated chaiitable orEani5ation registerèd
in England and Wales. The a(Idres5 of the charity is given In the charity inforrnaiion on page I
olihese linanc131 statements.
The financial statemenis of the charity have been prepared in accordance with the Charities
SORP IFR51021'AccountlllE and Reporting by Charities.. Statement of Recommended PracticÈ
applicablE to ch3ritie5 preparing their Jccounts in accordancÈ with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191, and
the Charities Act 2011. Thp h'nancial statements have been prepared under the historical
C05t CDnvEntion.
The financial staternent5 havÈ been prepared to be a'true and fair, view and h£ve departed
from the Char￿lieS (Accounts and Reportsl Regulations 2008 anly to rhe extent required to
provide 3'truÈ and fair we￿. This departure has inYol¥ed following the Accounting and
Reporting by Charities.. Statemeni of Recommended Practiie applicable to charities preparing
their accounts in accordance with the Financial Reporting Standèrd appliiable in the UK and
Republic of Ireland issued in Ottober 2019 rather than the Accounting and REPOrting by
Charities.. Statement of Recommended Prartice effective frotn l April 2015 which has 5ifbce
been withdrawn.
The Ilnancial statements are prepèred on a go￿nE concern basis undpr the historical cost
convention, modified tv include cèrtain r(ems at falr value. The linancial statements are
presenied in sterling whlch is the funthonal currency of the charity and rounded to the ne3re5t £.
The charity ha5 applied Update Bulletin 135 published on 2nd February 2016 and does not
included a cI5h Il¢)w statement on the grounds thar It is applying FRS 102 SectiDn IA.
The Trust constitutes 4 public benefit entity as defined by FR5 102.
Acc#untSn¢ polirie5
The si8nilicant accoufitiTrg ptsllcies applied in the preparatian of these financial statements
are set out below. These policies have been tonslsiently 3pplied to a11 periods presenied
unless othelwlse 51ated.
Income
All income is recognised once the charity ha5 entitlement to the Incorne, it is
probable that income will be received and the amount Df IncDme recelvable can
be measured reliably.
Investment income 15 earned through hDlding a55ets for inve5tspent purposes
such as shares and property. It Includes dividends. Interest and rent. Where It Is
not prdciicable to IdEntlfy in¥e5tment m4n3gement costs incurred wlthin a scheme
with reasonable accuracy the investment incamp is reported net of these costs. It
is included when the arnount cèn be me3sured reliably. Interest incDme 15
recogni5èd using the effeitive Interest mÈrhod and dividend and rerbt intome is
recognised a5 the charity's right io receive payment is established.
Expendliure
abilities are rtcognised as expenditure as soon as theie is a legal Dr constructive
obligation cownmltting the charity to that expenditure, it is probable th3t a transfer of
ecoDorni¢ benefits will bÈ required in settlement and ihe amount of the obligatlon can be
measured reliably. Expenditure is accounted for Dn an £ccru31s ba515 and has been
classified under headings that aEgre8ate all costs relatÈd to the ￿tes￿ry. Where costs
cannot be dirertly attributed tD particular hÈadings they have been allocated to a¢tivlties
on a basis con515tent with the use of ihe resources.
L2

THE GEORGE TQWN5END CHARITY
NOTES TO THE FINANCIAL STATEMENTS
12 MONTHS TO 31 DECEMBER 2025
Expendliure Icont.)
Gr3nts payable tD third parties are within the charitable objects. Wheie uncDnditional
grants are offeved, thi5 15 a¢trued as soon a5 the reEipient 15 notified of the grant. as
this gives rise to a reasonable eKpectation ihat the recipient will receive the grants.
Where grants arp conditional relating to performance thÈn the grant is only accrued
when any unfvifilled cvndltions are outside thÈ control of the charity.
Fund A¢¢ountlng
Urtrestricted general funds are funds which are available for use ar the discretion ol
the trustees In furtherance of the general objectives of the chzrity and which have not
been deslgnated *Dr other purposes,
Tanglble Ilxed asset5 and dewetlatlon
Investment PrDperty forwhich faiTvalue can be measured reliably without undue cost
or effort are rnea5ured at f4ir value 3t each reporting date with changes in fairvalue
recogni5ed In net gainslllosse51 on investment In the SOFA. Fixtures and fittings are
depreciated on a straight line basis over 10 years.
Investments
lfivestments are recagni5ed Initially at fair value which is normally the tran5actioTh
priie excluding transaction costs. Subsequently, they are rnpasured at fÈir value wth
thanges recognised in net 8ainslllossesl investrnent in the SOFA if the shares
are publicly traded or their fair value can otherwise be measured reliabty.
Debtors and credltors receivablelpayable withln one yeaw
Debtor5 and creditors v4ith no stated interest rate and Teceivable or pay)ble within
one year are recorded at trarb5action price. Any losses arising from impairment are
recognised in expendlture.
Cash and cash equi¥)lÈnts
Cash and cash equivalents comprise cash in hand and cash on deposit.
Going rpnrem
The flnancial stètemeTht5 have been prepared on a going ttsncern basis a5 the
trustee5 believ* that no material uncertainties èxist. The trustees have considered
the level of fvnds held and the expected1wel of Incorne and expenditur2 for 12
months from &uthori51ng these financial staternent5. The budgeted income and
expenéiture is sulficient with thE level of reserves for the charity to be ablÈ to
continue as a going con¢érn.
Grants payable
Grant5 payable to third parties are within the charitable objectives. Where
giants are offered, the full amount 15 8ccrued as soon a5 the Teclpient is
norifled of the granL as th15 gives rlse to a re￿onable expectation that the
recipient will receive the grant.
Cr¢ditors
Creditors are reco¥nised on the acrrua15 basis at séitlement amounts.
Flnandal Instruments
The charity applies thE provision5 of Sections 114nd 12 of FRS 102 to all of its
financtal instrument5. Financial instruments are recognised In the financial
statements when the charity becomes party ta the contractual provi5ion5 of the
instrument. Financial assets znd li4bilitle5 are offset. with the net amount5
presented the fInan￿31 statemenis. when there is a legally enforceable right
to Set off the recogni5ed arnDunts and there 15 an intentlon to 5ettlÈ on a net
basls or to reali5e the asset and settle the l￿bIlItY slmult3neouslv.

THE GEORGE TOWNSEND CHARITY
io
NOTES TO THE FINANCIAL STATEMENTS
12 MONTHS TO 31 DECEM&ER 2025
Investments
Investment5 are rÈcognisÈd Inltially at cost and subequently at fair value Ithelr
market value) at thÈ year-end. with any £hange5 in value recognised in'Net
gain5/llD5se51 on Investments, In the 5tatemeni ol financial activities if the
share5 are publiclytraded ortheir value can otherwise be measured reliablv.
Debtors
Debtors are recognised at settlement amount after any arnount advanced by
the charity. Subsequently, they are measured at the cash or other consideration
expetted to be recpived.
Current asset Investments
Investments held for resale or pending their sale and cash and cash equivalents
are tre.ated as current asset investments. These include cash OTr deposit and
cash eq￿4ValentS with a maturity date of le5$ than one year held for investment
purposes rather than to meet short term cash ¢ommitrn*nts as they fall due.
They are valued at fairvalue except where they qualify a5 ljasic financsal
in5trumet)ts.
i.io
i.ii
Taxation
ThÈ Trust 15 a registered charity and accordinÉly is exempt from taxation on its Income and
gains where they are applied for charitable purposes.
Charltable ejtpendlture
202S
2024
Insurance
Property repairs & maintenante
Agents commission
Chr15tmas 8wFt5 and other
Independent exarnination and accounts
Grants paid and payable (Note 41
Managetnent fees & charges
Services Df clerk
5ubscripiions
662
21,533
3,159
402
1,327
2,000
2,397
5,631
275
37,386
495
2,510
2,286
502
1,256
5,000
1,671
3,974
200
L7,894
Grants payable to institutio
The chadty pays grants through Charty ￿nk. a Leicester based tharity that helps indivldua15
in need. Charity Llnk a59esses applications for help and allocates Erants fTom the Fund
whirh meet with Its charitable Dbjects.
2025
20Z4
Grants paid..
Charity Unk
1.000
5,000
2,000
5,000

THE GEORGE TOWNSEND CHARITY
li
NOTES TO THE FINANCIAL STATEMENTS
12 MONTH5 TO 31 DECEMBER 2025
Tanglble assets
Axtures
& Fittings
Cost and valuation
B/fwd
Cifwd
20,821
20.821
Depreciation
Bl￿d
Charge lor the year
Clfwd
20,821
20.821
NBV
Clfwd
B/fwd
Investment propertv
Investment
Property
Investment
Property
2025
2024
Cost and valtjation
Bl￿d
335,000
Addition5
Transferred from Charlty
Revaluation
315.000
20,000
Clfwd
335,000
335.000
NBV
clhvd
335.000
325.0
Blfwd
33S.000
315,OLK)
The Inve51ment Property wa5 valued a5 at 31 December 2024 by Sturgls Snow & A5tlll
Chartered Surveyors. The cost value of the propÈrty was £113,766.
Investments
2025
2024
erought forward at 1st January 2025
Additions at cost
Pfoceeds of d15posals
Reali5ed Eains1llosse51 on1nvestments
Unrealised gainslllossesl on investments
225,655
14,919
13.0611
417
26.S06
218,675
7077
17.7901
6,891
225,655
Investments cornprise..
UK listed invÈstment5
Overseas listed investrnénts
151,080
113,356
141,769
83,886
225 655
264,436

THE GEORGE TOWNSEND CHARITY
12
NOTES TO THE FINANCIAL STATEMENTS
12 MONTHS TO 31 DECEMBER 2025
Debtors
2025
Z024
Prepaymènts
937
£984
£937
CredStors
2025
2024
Trade. creditor5
Accountzncy
Management & admini5tfation charges
ArDount to CIO
Grant5 payable
31
1,327
638
774
542
Ei,
£1,316
io.
Movement in funds
Net
movement
in funds
At 01.01.Z015
At 31.12.25
Designzted funds (emergency repairlundl
RÈvaluation reserve
Unrestricted funds
20.￿Ja
221,374
365,993
20.000
221,374
388,996
23.003
£607,367
£23.003
£630,370
Net movemènr in funds, Included in the above are as follow5..
Incoming
resources
Resource5
expended
fjains &
losses
Movement
in funds
Revaluation reserve
Unrestricted lund5
33,466
137,3861
£137,3861
26,923
23,003
£33,466
£26,923
£23,003
Movement in funds Iprooryearl
Net
movement
In fund5
At 04.01.2024
At 31.12.Z4
Designated funds (emergency repBir fuThdl
Revaluatiov reserve
Unrestrlcted fund5
20,000
221.374
365.993
20,000
221,374
365,993
£607,367
£6Q7,367

THE GEORGE TOWNSEND CHARITY
13
NOTES TO THE FINANCIAL STATEMENTS
12 MONTHS TO 31 DECEMBER 2025
Trustees. remuneraiion and expen5e¥
There wa5 no trustees. remuneration or other bÈnefits for the 12 month5 ended 31 December 2025
Tru5tees' expens85
There w85 no tfUStee5' e¥pen5es paid fDrthe IZ month5 ended 31 DecÈmber 2025
12.
Independent e¥aminatlom
The toral fee paid to the independent examinei E170 for the Independent
examination. An additional amount Wa5 paid to Leicester Charity organi531ion seuety
for preparation of the accounts for the year
13.
Related party transactb)ns
The charity's investments 8re managed on a discretiDnary managed ba515 for the trustees by
Mr Andrpw 8aker of Charles Stanley & Co Limited. Mr Edward Cufflin a trustÈÈ of the charity Is
also an employee DI Charles Stanley & Co Limited. Fees of £2,397 were paHJ to Charles
Stsnley & Co Limited in the year.