Charify giStratIon number.. 1210128 THE XCZ TRUST CIO TRUSTEES. REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 20 SEPTEMBER 2024 TO 31 DECEMBER 2025
THE XCZ TRUST CIO Contents Page Reference and Administrntlve Detalls Trustees, Report Independent Examiner's Report statement of Financial Activities statement of Financial Position Notes to the Financial Statements 7-10 The following pages do not form part of the statutory accounts.. Detailed Statement of Financial Activities
THE XCZ TRUST CIO Reference and Administrative Details For the Period 20 September 2024 to 31 December 2025 Trustees Mr J G Lawrence lappointed 20109120241 Mr R K Southgate (appointed 20109120241 Nrs S M Southgate lappointed 20109120241 Charity Number 1210128 Principal Address 3 Lansdown Park Bath Somerset BAI sfG Independent Examlner Catherine Edwards FCA Richardson Swift Audit Limited I l Lauft Place Bath BA2 4BL Banker$ CAF BANK LIMITED 25 Kings Hill Avenue West Nalling Kent ME19 41Q Page I
THE XCZ TRUST CIO Trustees, Report For the Period 20 September 2024 to 31 December 2025 The trustees present their report and the financial statements for the period ended 31 December 2025. Objectlves and Actlvltles Aims and Objectives The objects of the charity specified in its constitution are: To advance such charitable purposes according to the law of England and Wales for the public benefit, in particular without limitation by primarily providing grants to charitie5 andlor other organi5atiOns a5 the charity trustees see fit. The charitable activities of the charity and how it spends its money can be summarised as follows: The charity operates in the Bath & NE Somer5et area and makes grants to registered charities that provide services to.. (al socially-excluded or disadvantaged people,. Ibl health-related service5,' Icl sUPPOrt for religious organi5ations, primarily of the Christian faith, to enable places of worship to be maintained., andlor Id) cultu1 benefit5 to the community to preserve cultural heritage. Publ1¢ Beneflt Grnnts were made during the accountlng perlod to a number of registered charlties opernting in the Bath & North East Somerset area and the nearby region that meet the aims and objectives of the charity. The charity's grant-making process involves detailed analysis of the Trustees, Report and Accounts of target registered charlties together wlth contact wlth their management, as appropriate, and on-going monitoring of their charitable activities to ensure that the award of grants is Justified and public benefit Is obtained. The trustees confirm that they h3ve complied with the requirements of Section 17 of the Charities Act 2011 to have due regard lo the Charity Commission s guidance on public benefit. Financial Review Financial Position At the end of the reporting period the charity had cash balan5 of E248.512 and net assets of £246,712. Reserves Pollcv The charity seeks to maintain re5erve5 of at least £IOO.000 at the end of each reporting period a5 the timing of its future income from donations by related parties is uncertain. Statement of Trustees. Responsibilities The trustees are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pnrtice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the Incoming resources and application of sources of the charity for that period. In preparing the financial statements the trustees are required to.. • select suitable accounting policies and then apply them consistently.. observe the method5 and principles in the Charity SORP,. make judgments and accounting estimates that are reasonable and prudent,. and pa the financial statements on the going concern basis unless it is inappmpriate to pSuMe that the charity will continue in business. The trustees are responsible for keeping adequate accountlng records whlch dlsclose wlth reasonable accurncy at anytlme the financial position of the charity and to enable them to ensure that the accounts comply with the Charities Act 2011, the Charities (Accounts and Report51 Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable step5 for the prevention and detettion of fThud and other irregularitie5. The trustees are re5POn5ible for the maintenance and integrity of the cortK)Trte and financial information included on the charity's website. Legislation in the United Kingdom goveming the preparation and dissemination of financial statements mav differ from legislation in other jurisdictions. Page 2
THE XCZ TRUST CIO Trustees, Report (continued) For the Period 20 September 2024 to 31 December 2025 The twstees, report was approved by the board of trustees and signed on its behalf by.. Mr R K Southgate Trustee 5 August 2026 Page 3
THE XCZ TRUST CIO Independent Examiner's Report to the Trustees of THE XCZ TRUST CIO For the Period 20 September 2024 to 31 December 2025 I pOrt to the trustees on my examination of the accounts of THE XCZ TRUST CIO (the Trust) for the period ended 31 Dember 2025. Responsibilities and Basis of Report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordan with the requirements of the Charitie5 Act 2011 1"the Act-i. I report in respect of my examination of the Trust's account5 carried out under section 145 of the 2011 Act and in carrying out my examination. I have followed the applicable Directions given by the Charity Commi55ion under sertion 145151{bl of the Act. Independent Examlner's Ststement Since the Trust's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. l. accountlng records were not kept in respect of the Trust as required by sectlon 130 of the Art; or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the applicable requirement5 concerning the forni and contents of account5 Set out in the Charitie5 (Account5 and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view. which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matter5 in connection with the examination to which attention should be drawn in this report in order to enèble a proper understanding of the accounts to be reached. C L £du2¥s Catherine Edwards FCA 5 August 2026 Richardson Swift Audit Limited 11 Laura Place Bath BA2 48L Page 4
THE XCZ TRUST CIO statement of Financial Activities For the Period 20 September 2024 to 31 December 2025 31 December 2025 Vnre$trlcted funds N¢)ts$ INCOME AND ENDOWMENTS FROM: Donations and legacies Investments 365,125 2,197 367,322 EXPENDITURE ON: Charitable activities 1120,6101 NET INCOME 246,712 NET MOVEMENT IN FUNDS 246,712 RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD li 246,712 The notes on pages 7 to 10 form part of these financial statements. Page 5
THE XCZ TRUST CIO statement of Financial Position As At 31 December 2025 31 December 2025 Vnre$trlcted funds N¢)ts$ CURRENT ASSETS Cash at bank and in hand 248,512 248,512 Creditors: Amounts Falling Due Within One Year io 11,8001 NET CURRENT ASSETS (LIABILITIES) 246,712 TOTAL ASSEfs LESS CURRENT LIABILITIES 246,712 NET ASSETS 246,712 FUNDS OF THE CHARITY Unrestricted Funds 246,712 TOTAL FUNDS li 246,712 On behalf of the t>oard Mr R K Southgate Trustee 5 August 2026 The notes on pages 7 to 10 form part of these financial statements. Page 6
THE XCZ TRUST CIO Notes to the Financial Statements For the Period 20 September 2024 to 31 December 2025 l. General Informatlon THE XCZ TRusf CIO is a charitable Incorporated organisation registered with the Charity Commission, registered charity number 1210128. The principal address is 3 Lansdown Park, 8ath, Somerset, BAI 5TG. Accounting Policies 2.1. Basis of Preparatlon of Flnanclal Statements The financial statements have been prepared in accordance with the Charities SORP IFRS 102) Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts In accordance with the Financial Fieporting Standard applicable in the UK and Republic of Ireland IFFIS 1021 (effective I January 20191" Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011. The charity is a Public Benefit Entity as defined by FRS 102. 2.2. Incoming Resources The income of the charity 15 primarily donations from its trustees together with any associated gift aid whe applicable. other sources of income a corporate donations and interest on bank deposits. 2.3. Cash and Cash Equivalents Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts. Income trom Donatlons and Legacles 31 December 2025 Unrestricted fund5 Donations and gifts GSft aid 345,100 20,025 365,125 The following donations and legacies are included within the total income from donations and legacies above.. 31 December 2025 Unrestricted funds Donations from Trustees Corporate donations 319,100 26,000 345,100 4. Investment Income Page 7
THE XCZ TRUST CIO Notes to the Financial Statements (continued) For the Period 20 September 2024 to 31 December 2025 31 December 2025 Unrestrlrted funds Bank interest receivable 2,197 5. Anatysis of Expenditure 31 December 2025 Grant funding of Support activities costs {see note 61 (see note 7) Total Grants awarded Administration 118,750 118,750 60 60 Govemance 1,800 1,800 118,750 1,860 120,610 6. Grants Payable 31 December 2025 Grants to Institutions Grants awarded 118,750 Grdnts paid to Institutions, Included above, are as follows.. 31 December 2025 Genesis Trust Bath 30,250 30,000 40,000 11,000 5,000 2,500 The Alongside Charity Iformedy Jullan House) Dorothy House The Great Westem Air Ambulance Charity Spencer Dayman Meningitis Research Exeter Community Transport As50Ciation 118,750 Page 8
THE XCZ TRUST CIO Notes to the Financial Statements (continued) For the Period 20 September 2024 to 31 December 2025 7. Support Costs 31 December 2025 Administration Governance Total General administration 60 60 Govemance costs 1,800 1,800 60 1,800 1,860 8. Independent Examiner's Remuneration 31 December 2025 Independent examlnation of the financial statements 1,800 The Independent Examiner's fee is shown inclusive of VAT payable. 9. Average Number of Employees Average number of employees during the perlod was.. NIL 10. Creditors: Amounts Falling Due Within One Year 31 December 2025 Accruals and deferfftd income 1,800 11. Movement In Funds A$at20 September 2024 A$at31 December 2025 Income Expenditure Unrestrl¢ted funds General.. General 367,322 1120,6101 246,712 Totsl funds 367,322 1120,6101 246,712 12. Transactions with Trustees None of the trustees received any remuneration or any other benefits from an employment with the charity or a re13ted entity during the current year. No trustee expenses have been incurred. Page 9
THE XCZ TRUST CIO Notes to the Financial Statements (continued) For the Period 20 September 2024 to 31 December 2025 13. Related Party Dlsclo$ure$ The followlng transactions wlth related partles took place JUn9 the reportlng peAod'. Mr R K Southgate made gift-aided donations totalling £229, LOO., Mrs S M Southgate made gift-aided donations of £90,000; and BRACKS Limited, a company owned and controlled by Mr & Mrs Southgate, made donations totalling £26,000. 14. Controlling Parties The charity has no controlling party- Page 10
THE XCZ TRUST CIO Detailed Statement of Financial Activities For the Period 20 September 2024 to 31 December 2025 31 December 2025 Total funds INCOME AND ENDOWMENTS FROM: Donatlons and legacles Donations from Individuals 319,100 26,000 20,025 Oonations from organlsations Gift aid 365,125 Investments Bank interest receivable 2,197 2,197 367,322 EXPENDITURE ON.. Charitable Activities: Grants awarded Grants to institutions 1118,7501 IL18,7501 Admlnlstratlon Bank charges 1601 1601 Governance Independent examinerts fees 11,8001 11,8001 1120,6101 NET INCOME 246,712 Page 11