REGISTERED CHARtrY NUMBER: 202118
Rè
rtol
and
Flnanelal Ststem•nts
for the Ygar Ended 31 December
lanchminster Trust
Street5 Audit LLP
Metherell Gard
Bum Vi&¥
Bude
Comwati
EX23 88X

Blanchm
Rè
rt of the Trustees
forthe Yèar Ended 31 December 202
The trustees pres¢nt their report wth the finanual statsments of the thwrity for the year ended 370￿rnber 2025. The
trustees have adopted the provisions of Acc(MJnting and Reporhng by Charities.- Slalemènt of Recommended Practi¢0
applicable to charities preparing their accounts in accordance vAlh the Finanual Reporting Standard applicable in the
UK and Republic of Ireland IFRS 102} {¢ffeth"ve 1 January 20191.
OBJECTIVES AND ACTIVITIES
ObjectNes and alms
Blanchminsler Trust is said lo be possiNy the ddest established grant making tharity in the county lor even the worfdl
being able to trac& its origins directty back lo the year 1421. and has reeenuy celebrated the 60(Xh anniversary. Desplte
changes ol name through long history. the trust has retained its g&nw81 principle in so far as the 'reJief of local need,
is COn￿med. At that early dale, considerable areas of land in the distrTret were bequeathed to the trust, and over th&
years this has changed rnto a C￿CentratIon of ovmership ol residential and commercial properties mostly in Bude itself.
The first Charity Commission Stheme for the trust. then known as the Blanchminsler Charity. was datèd 12th December
1893. This directed the"Fèoffee5" at that tiffle to form81ty sel up the alministtation which, apart the approved minor
changes in recent limes, has remained to the present day.
The objective of the tnjst is to rn8nage the L2rwJ bdonging to it, in order to w(￿1de SUfp1us incomo whith rt then applies
in the followng ways by méans of grants or othemse.
Relief in need
The Iiust is lo give. generally or indwidualty. lo persons ate in ￿)nditIOnS of no￿. hardship or distrèss, by
grant of money or by prowding 3eNces orfacililies to althate th5 need.
Promoiion of education
The trust is to awatd a maintenance allowance or otheTh¥ise provide financial assistance to persons vrtw are in
need of such assrslance. to conlinufl thar sludies. The trust is lo a150 Ptovide s￿1￿1$ with spe(xal benefrts not
normally provided by the local education aLrthority. The Irust is to also provide financial assistancè to 8ny
charitable organisab'on whose objects indude the piomotion of education.
Community aid
The trust is tr) provide finarKial assist8nr* to hxal charilable o￿an1&attOnS for the beneffl of the community.
The area of benefit is prinapalty Ihe paTrshes of Bude. stratt￿ arKJ Poughill (the forrn￿ 8ude-Str8tton urban district
areal but in special tircutnstances Ihis may be extended to the immediate area outside these parishes. In order for an
application to qualify for aS￿stanCe, it musl be woved not onty does the applicant reside wlhin the area of benefit bul
81so that the grant falls wthin the thiee application types Ènd th* theie is a genurne need. Consideration may. however,
bo given to C￿￿ent or immediate past pupils of BLKlehaven Sthool ￿ do not ieside in the area of bÈnÈfit where an
educatÈon grant has been ￿quested. The tnjstees wll also consider educational gi8nt app&calions from sludtrnts who
hav8 a parenll parents living bmthin the designated a￿a.
Followlng many years of low levels of income from property renlals. vAlh the consequent 18ck of investment in the
maintenance of those properties, thè trustees have, since the earty 1980$, uThJeriaken a steady upgrading of the trusfs
properties whenever the opportunity has arisen. This course of acti<￿ had been possible through the raising ol the rents
to, or near to, the registered rent level and the setting of realistic rer)Is f￿ c¢mmeri#81 properties, as guided by
professional adwcè. The trustees continue to foll¢y•Y the programme of iecent years in giadualy raising the standard of
all investment prDperties.11 is a long-tenn pr¢￿esS as most of the buildings are very old the majority falling within a
designated Conservation Area. The trustees beliève that this policy is required lo ensu￿ that fijtuie sutplus income is
achieved lo continue its grant m3kiTrJ objectives.
Page 1

Blanchm5nster Trus
Re
ort of tha Trustèès
r the Year Ended 31 December 2025
OBJECTIVES AND AcnwllES
Grant Making Pollcy
Applications are nomally Inade in writing to the derk. when a ￿nanual enquiry form. is sen( for completion and retum.
Applicants may be caUe(I for an infom7￿ inteNew by the relevant committee. Following this. a recommendali¢)n is made
lo the full Board of Trusfees who make the final decision.
In the case of dubs, organis8lions &lc.. fhe latest annual acLYJunts are calléd fr)r, together with an updated financial
51aternent.
ASSIStar￿ can be given in the fo￿￿ of a cash gtant or prowsion of equipm6nt.
There has been no thange of poI￿Y by the I￿Stee5 in their WOLxdures dLNiThJ the pasl year.
In sgtting their objectives and planning their aclivttles. Ihe InJst8es have given (xreful cor￿lderatIon lo (he Charity
Commission's general guidani* on Publ￿ benefft.
Thè trustees measure ￿ su¢)xss of meeting their oki*cti¥ès by the level of grants made in the year.
ACHIEVEMENTS AND PERFORMANCE
Grdnts IAade
Grants Declined
Othar
Total
Needs
Education
Communrty
Outsidè Of The Scope
Withdrawn
Carried forward to 2026
17
220
12
19
29
239
65
49
49
By far the largest number of requests lall wlhin the 'Education' category. Each year the tnjst offers a standard grant to
mainly student8 of Budehaven Comtnuntty School wh) are movirvJ on to higtrEr education whore a finanrial need is
established. This has provided in many cases an in￿alUable hdp to the students afjd Iheir familie5 al a timo ¥then Local
Education Authoiity grants have been removèd. In 2Q25 the standard gtant paid was £1,200.
The charity's main source of income ￿MaInS rental r￿eIPtS from the letting tsl its invostment KKoperty. As in previous
years. a number of prOpe￿¢S h8ve been refurbished. lurlher details are noted in thè finanr4al reMew.
The trustees are pleased th3t. overall, the invests))ent Iwopèty portfolio sh(h¥s very few instsnces of non occupan￿,
and, wtth the guidance of the trust's property a(fvisws. continues to 8th1￿e competthve, ￿)MMerCial rental retums.
In line wrth Ihe charity scheme. the th8rity has invested ￿sh other Ihan that needed for immèdiate workiThJ purposes,
ftjnds have Invested with CCLA investment funds to generate a retum. Part of the shares werg disposed of during
the year to fund investment property works. See note 2 for details of dividends received.
FUNDRA]SING ACTIVITIES
The charity doe5 not partiopate in any Èxternal fundraising a¢tNitses nor does il engage any professional fvndraising
servI￿s. The costs of raising fvnds as noted in the SOFA on page 9 are detaikd in note 3 to the finanaal slalemenls,
and relate solely to the management of the Inve5trnent Properties.
Page 2

Blancluninster Trust
Re rt ofthe TA￿te•S
r the Year Ended 31 Decembgr 2025
FINANCIAL REVIEII
Overall incoming resourc£s Inrxeased lo £573,929 in 2025 from £558.750 in 2024. Ovorall, there has been an incr68Sè
In investment income in year of £14.18S. vA)kh 1$ the result of an increase in rental income.
The trust is not depen￿nt upon the receipt of donatior￿, lega£?es or other voluntary i[￿￿)rne. The trust has applied ils
Fncome firstly lo grants in the aTeas of education, need and comrnunty projeds. which totslkd £265,333 and a further
3,667 in the Maintenan￿ and repair of properties.
The freehold property and tha investmerts are valued on a fdir value basis as eWain6d in the aTrxJunling policies.
Investments are held in accotd8nce vrilh the INstees' pthrs.
The Charities Official Investment Fund ICOIF) shares ar6 publicly quoted. These shares wore valued al the year end
and showed an unrealised gain of £82.376 for Ihe year.
Thè trustees are required to retain the investment properties arKI other assets in the petmanont gndowmenl fund. The
assets secure an incorne stream to tneel current and future grants and related expenditure. The end¢)WTnenl fund is not
port oflhe reseNes polw considèration.
The tot81 value of the unrestricted loserve at the yEar end amounted to £1.891.305 (2024 £1,983,807), wlh iangible
assets totalling £3,310, these are exckn(1811 trGYn Ihe reserves consideration, leawng a balartt of free rese￿eS of
£1,887,995.
The trustees h2ve ¢on5idered the level of fr09 resetves that need to be retained, in the light of the Charities Commission
document"8uilding ReSi1￿r￿. published in June 2023.
In the opinion of th& trustees the reserves h61d to irhdude an operational Ixhflow balan￿ of £5￿.L￿J).
In addition lo this amount thè trustees believe they need over a penod knme lo hold a further balan¢x in retained rese￿eS
lo Gover unforeseen costs of fflaintaining the pem7anent e[Klo￿￿ent assets. The amunt of ieserves needed will need
to bè In a range of £500,0￿ to £1.500.OCA), and the actuaj figu￿ will be depend￿1 upon whefé in the cyrje the Trust is.
The range needed is evhlenced in the note bell￿.
Therefore, the target range for free ￿serveS retsined is between £1.500.(XJO and £2.fAX),000. The current levd of Such
reserves at the year Ènd is within this range.
Following a structural fauh wth one DI Ihe Tnjsvs properties in 2022 the other prO￿rt1&S of a similar construction were
surveyed and each property wa3 found lo require some level (rf iernedial work. This work is bèing cornpleted in stages
and il is currently antiapated that the first and second phase will cost £91￿.(￿ vthich will be spread over 2-3 years.
Further phases will be required.
Th6 trust is in 8 strong finanoal posltion 8t ttTre year end. howEver as detaiknl in the above paragiaph, major costs are
antiupated in the nexr fijlure.
FUTURE PLANS
The trustees, intention is to c￿ntinUe running the tharity ak)ng very similar lines to Iho88 carried on in recent years. As
Previously noleLI: the Iruslees are committed to the maintaining of the trusts properties held in the perrnanont
endowment fund.
STRUCTURE. GOVERNANCE AND MANAGEMEP
Governing Document
The trusl is an unincorporated 8ssoaation which is govetned by the Charity Commission Seheme dated 16 March 1982
as amended on 27 June 1988. 12 August 1991 and 7 August 1996 and amonded by special resolution 4 July 1997. In
June 2D23 the Truslees deoded to update the ¢)Jr￿t scheme. This was submitted to the Ghwily commission and
appioval grarhted on 9th August 2024.
Appolntment of TrnstO•S
The Board of Trustee5 consists of thirteen members. Trustees *e appointed by the Board of TnJ5tees. Each Such
appointment shall be for a period of fNe years, 8fter whith time twstee5 may put themselves for¥vdrd for re-appointment.
Page 3

BlaTrchmlnster Tntst
Re ort of thg Tru5tse5
lof the Yèar End•d 31 Doeember 2025
STRUCTURE, GI)VERNANCE AND MAMAGEMENT
Organisation
The fvll Board of Tnjslees me6ts M￿1hty.
There are three commrftees, each Of￿1th meet monlw.
1 The Property and Administration Committee has execulive powers bLrt ￿POrts ￿1 8cliony lo the next monthly
meeting ofthe full Board of Trnstees",
2 The Education Committee..
3 Thg Needs and c￿MUnItY Committeè.
Both grant 8pplieations cA)mmittees aThJ any two tws18es have emergency powers.
recommendations lo the fvdl board meeting on a fflonthty basis.
Olhervrise they make
Induction and Tralnlng of New Trvstees
All Iru$loe$ aro fully 8ware of their responsibilthes to the twsl. In the event of a new ap￿intment. elther by lurther
Ituslees being requireil or permanent retirèmènt, thè senior and junior stockwarden are jointly responsible for providing
all the necessary indudTon and guidance to any Sp￿In*￿ trustee. The derk to the trust￿ asslsts in this regard,
advising on day to day responsibilities and tasks.
Key management ramuneratlon
Remuneration DI key management is reviewed by trustees annualty.
Related Pardes
Related party transactions roquiring disdosure are recorded at notè 17 in thts account8.
All Iruslees have a connection wAlh 8 reciyent of a grant or have any involvement Imih a gfanl redplenl's
8ppli¢81ioll are not invdved in the deliberation ￿ decision making process for those particular grants.
Risk Management
The principal iisk5 to which the charity is exposed, as identified by the Injstses, have been reviewed and systems have
been established to tntti.gale those risks.
The princApal risks faced by the Trust lie in the performance ol investments. The dwritys principal income stsuree is
from fenial receipts of its investment properties. The Iruslees have ensured that adequate insurarice is in pla￿ for the
properties and cary out regular maintenance to mTbgale the risks.
Page 4

Blanchminster Tnlst
rt of the Trustees
for the Year Ended 31 December 2025
REFERENCE AND ADMINISTRATIVE O￿AlLs
Name and Address
BlanchfflinsleT Tmst, Blancthminster Building. 38 LansikM*m Road. Bude. Comwall. EX23 8BN.
Regfstered Charlty MuM￿r 202118
All of thè trustees rtaled belryw MEre in office fc* the perlNJ from 1st January 2025 to the dat& of this report except whore
othe￿1$e slated. Tho offi¢es held and committee deta￿S are as at the dale of this report.
Trustees
Mrs J Adams
Mr J Addicott (Winled 511212025>
Mrs P Gliddon
MrA R Jam6S
Mrs S A Lamble lJunior Sfockwardenl
Mr O A May {￿signed 3110512025)
DrA Moss
Mrs V A Newman
Mr C D Nitthols {Senior Stockwanlenl
Mr I Sattem
Mrs J M Sheph&rd
Mr L M Tozer
Mr P M Watter lappoirrtgd 3101r20251
Mrs D Y Welington
Some of the title deeds of the investmenl properlies held by the Trust were rggisteted in the Ir￿￿VIdUal names of the
Iruslees serwng on the board al thg date of the of registration.
Staff (Part timel ￿ponsIble for day404Jay manag•mgnt
Ms J E Comish (Clerk to the TtU5tees)
Mrs J Hinson (Office Secretary)
Property and Admlnlstration Commlttee
r J Addi¢ott
Mr5 P Gliddon (Chairperson)
MrA R James
Mrs S A Lamble
Mr O A May (resigned 31105r20251
Mrs V A Nemnan
Mr C D Nirthols
Mr I Salkèm
Mrs J M Shepherd
Mr L M Tozer
Mr P Wamer {from 03A)1r20251
Mrs D Y Wdlington
Edueatlon Committee
Mrs J Adarns
MrA R Jarnes
Mrs S A LatlltAe
hAr O A May Iiesigned 31105120251
Dr A Moss
Mrs V A Nu4*Th811
Mr C D Nichols
Mr L M Tozer Ichairpwsonl
Mr P Walter {from 03101r2025}
Need¥ and Community Commlttee
Mrs P Gliddon
MrA R James
Mrs S A LamNe (Chairperson)
MT O A May (resigned 31105f2L125)
Mrs V A Newman
Mr C D Nic*￿IS
Mrs J M Shepherd
Mr L M Tozer
Mr P W￿ter (from 03101r2025)
Mrs D Y Welfjruton
Banke
National Westminster Bank plc. 250 8istM]psgate. London EC2M 4A
Solicitors
Messis Peter. Peter & Wiighl, 1 Queen Street. Bude, Comwall. EX23 8AL
Audltors
StreEts Audit LLP, Metherell Gard Ltd. Burn VM¥. Bude, Comwal. EX23 88X.
Architects
The Bazeley Partnership, Effutd Fartn. Vicarage Road. Bude. EX23 8LT
Surveyor and Property Agent
Mr A P Furse BSC. MRICS. Underwood Wright Ltd. 5 Queen StreeL Bude, Cotnwall, EX23 8AY.
Insurers
AXA Insurance PLC, 2Q Gracechurth Street, London, EC3V OBG
Page 5

lanchmlnster Tntst
thè Trustees
Ended 31 Dec•m
forthey
2026
BrDwn & Brown InsurarKe, 3 MoMnna Tèrrats, B￿. Comwall, EX23 8BU
STATEMENT OF TRUSTEES, RESPONSIBILrriES
The trustsès ar8 résponsibfe lor prepanng thtr R&yort of the Trustees and thè ffnancial ststgments in accordance with
appllcable law and Unitgd ￿ngdoM Accounting Standards {Unrted lQ"wJc¥n Gan&rg1ty Accepted Accounting Practical.
Charity law requires the trustees to wepare finanoal statamarrts for eath finan￿al year. UNkr thatlgw. the tru8teeB
have elected to prepare thg finanoal ststements in ￿)rdance with United KJ"ngdom Ganoralty A¢¢epled Accounting
Practice (uni￿ ￿.￿gdoM Acc￿n￿'r0 Stsndard5 and w)￿1rab￿ lawl.
Undèr charity law ihe trustees must not appTove lh8 finan(#al statements unless they are satisfied that th8y givo a truo
and fair view ol t￿ statè of affairs of the tharity aryj of the rnc(Kning resou￿$ and appliGgtion of resources, including
the income and exp8nditure, of the charity for that FEriod. In pyaring those finarrial statements. the bwstees arg
ulièd to
select suitsble accounting policie5 8nd then appty th￿ consist8ndy',
observe ihe methods and princip￿$ in the Charrbes SORP",
make judgements and estimates that are reasonabl8 and prudent
statg whethgr applirable a¢counting stat¥Jard5 hwe been follmd, subiocl to any material deparbJres dlsdosed and
explained In the financial ststements."
prepare the financial statements ¢n thè goiryj concem basi8 unkss in9￿rOpriate to presume that thè eharty WTII
ntinue in business.
The trusts8s we rèsponslble for kew'TrJ prcyr accounb.ny rocuds vthith disdose vri1h roa$onabkg a￿uraCY al any
me the financial position of the charity ond to anab￿ theTh to ensure that the finan￿81 stslernents compty ¥￿th the
Chariligs Act 2C111 aThY The Chanty {Accounls and Reports) RegULab"c￿$ 2008. They are also respon￿ble for
S8faguarding the sssets of the chartiy and hence for takirvJ ￿asonabl& st8ps tDr the preveThtKJn and dthtion ol frgud
2nd other irregular￿.e$.
Approved by order olthe board of tnJ8tees on ...... ... ....
. and svJned on ts behalfby."
C Nicho
¢Kkwar(lanj. Trustee
Page 6

Re
the Inde
endent Auditors to the Trustees of
Blanchminster Trust
Opinion
We have audited the finanaal slalefnents of Blanchminster Twsl (the 'CharIt￿ for the year ended 31 Dgcember 2025
¥vhich comprise the Statement of FinancAal Acliwlies. Ihe Balance Sheet, thB Gash Flow Statement and nDtes to the
financial stalemenls. incj￿1Ing a summary ol significant accounting policies. The finana81 reporting fr8mmk that has
been applied in their preparation is applicable Liw arhd Unrtèd lQngdom Ar￿￿￿tIng Slandardg (Unitèd Kingdom
Generally Accepted Accounting practi￿).
In our opinion the finan￿al slalemenls=
give a Iwe and fair view ol the slate of the chariws affairs as al 31 Decembei 2025 arkd of its incoming rèsources
aThJ application of resources, for the year then ended,.
have been propedy prep8r8d in a￿)rdance wlh Unrted Kingdom G¢neraltyA¢¢¢pted A¢wunb"ng Praclice.. and
have been prepared in acc{xdan￿ v*ith the requiremgnts ofthe Chaiibes Act 2011.
Ba¥1¥ lor opinion
We conducted our 8ud(c in accordanfjo ￿th Inlefflational Standards Auditing (UK) IISAS IUK}) and applicable law.
Our resp¢)nsibililies under those 5tandard5 are further desuibed in the Atjditors. responsibilities for the audit of the
financial $18lemÈnts section cf our rer￿ We are independent of thè tharity in sccordance wth the ethical
requlremenls that are rÈl8vant to our audit of the finanoal stslements in the UK, including the FRC'S Ethical Standard,
and we have fulfilled our other ethi¢al responsits"lrti93 in a￿dance wilh these iequirem¢rbts. We believe Ihat the audit
evidenco we have obtsined is sulfiaent and apwopriale to provide a basis for our opinion.
Concluglons relatlng to golng concern
In auditing the finanual statements, we have COrH￿uded that Ihe trustees, use of the g￿ng co￿eM basis of accounting
in the prèparautsn of the finan￿￿ stst6mènts is appropriate.
Based the work have perfoirned, we have not iderbtified any material uncertaintiès relating to events ￿ conditions
that, individually or collectivety. may cast signrfiix)t doLknt on the chaTiVs ability lo continue as a going concem for a
perlod of at le8St Iwefvo monlhs from the financial stalements are auttKJliSed for issue.
OLW responsibilities and the responsibilities of the twstses ￿¢h iespect to going 1￿ce￿ are d8s(xsb8d in thè r6lèvAnt
sections of this report.
Othèr informatlon
The trustees arè fÉsponsibl6 for thè other infomiation. The other infom)ation comprises the information incbjded in the
Annual Report. other than the financ4al statements and cyjr Report of the Independent A￿lItorS thereon.
Our opinion on the financial slalements does not cover the other information and. except to the extent othe￿1$¢
èxpliady stated in Ouf report, we do not express any form of assuiance concjusion Ihereon.
In connection with our audit of the ffinancial stalemenls, our responsibility is to Tead the other inforrnation and, in doing
so, consider whether the other infcjrmation is fflat8ti81ty inconsistent vKth the ffinantial statements or our knowledge
obtained in the atKlil or OtheTh￿se appeals lo be fflaterialty mi5Statefl. If we idenlrfy such tnaterial inconsistencies or
apparent fflateli￿ misslatemenls. we are ieqvir8d lo detetThine whetheT this gsves rise to È material misstatement in the
financAal statements theffl5thes. Ir. based on the ¥%Yrt we have perfom)ed, we conclude that there is a rnalerial
misslateTnent of this othèr infomation, we arè requiied to re￿)rt that fact We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing io report in respect of the following matters where the Charities (Accounts and Reports) Regulations
2008 requiie5 US to report tD you if, in our opinion..
the information given in the Report of the Trustees is inconsistenl in any material respect wtth the financial
statements,. or
sufficient accounting records have not been kept.. of
the financaal statemenls are not in agreement the accounting iecoids and retums.. or
we have not received the informalK)n and expla[￿lor￿S we requiie lor our 8udrt.
Responsibllities of trustees
As explained more fully in the Stalernent of Trustees. Ressx)nsibditTrBs, the trustees arè rèsponsible for the preparation of
the fifianii81 statements whi¢h give a true and laii view. and for such intemal control as the trustees delermine is
necessary lo enablo the weparation of finanoal statements (hat are free frotn material tnisstatement, whether due lo
fraud or error.
In pieparing the finanaal statements, the tmstees are responsible for assessing the charitys akn'lity lo continue as a
going COn￿rn, disclosing, as applicable, matters related to going o)ncem and using the going concern basig of
acGounting unless the Itustees prfthei irrtend tts liquidale the charity or to cease operations, or have no realistic
altemative but to do so.
Page 7

rt ol the Inde
endent Auditors to the Twstees of
Blanchrniftster Trust
Our responsibiliti￿ for the audit oi the financial staternents
Vve havè ￿en appointed as 8uditors under SÈction 144 01 tha Ch8thiÈg Act 2011 and rÈport in 8t￿r￿anc& wth thè Act
and relevant reyulatr'ons made or having elfecl thereund¥.
Our objectives are to obtain ￿aSonable assur3nce about vhiether the finan(xal ststemenls as a whulE are free from
matèri81 misstatement, hthether due to fraud or error. and to issue a Rèport of the ItKlep@ndent Auditors that indudes
our tspinion. Reasonable assurance is 8 high lev61 of assurance, bth is not 8 guarantée that an audit conducted in
accordance with ISAS (UK) wil aknys detect a material misstatementythen it exists. Mis5tatetnents can arise from fraud
or error and are considered materlal rf, inrfNidualty ot in the aggregate, they (x)uld reasorbably be expected to Infiuence
thè economic decisions of users taken on Ihè basis ofthese finanual statements.
The extent to vthich our procedures are capable of delecting irregulartties, indLKling fraud is detailed below..
We gained an understanding ofthe legal and regulatory framv•￿rk ak¥•bca￿e to the TrLLSt.
We obtained an understanding of the enWs risk assessment process. induding the risk of fraud.
We reviewed the finanoal stslements and tested the disdosufes against SUPPOTting dc￿Me￿takn.
We reviewed minutes of meetings of those charged with Manage￿￿￿1 and govemance.
We perlomied audit work, induding reviewing the risk of marogement override of controls, testing journal entrie5 and
other adjLJSttnents for appropri8teness, evaluating the ralitsn81e of significant Iransadions, and reviewing acix)untlng
estimate8 for bi8s.
Because of the inherent limttatr(￿s of an audit. there is a rrsk that we will not detect all irregularittes. induding those
le8cfing to s rnaterial misstatemènt in the ffinanci￿ statèmènts or non4xxnpli8rh(* V￿th regulation. This Tisk incréases the
more that oomplianca ￿th a law or r*gulation 1$ removod from th& events 8nd tr8ns8Ctions fefl6ctèd in th¢ finanual
statement5, 35 we will be le55 likely lo becDme awdre of ifistar￿ of no1￿coMplIa￿e. The risk 15 a150 g￿ater regarding
If￿gUlar•￿e$ occurring due lo fraud father than error. as fraud invofves intentional ￿nCealMent. forgery, collusion.
Omis￿on or misrepresentation.
A further description of our responsibflities for the audil of the finanual stalements is located on the Finanual Reporting
Council's website at WWbV.frc.org.uklaudttorsresponsibilities. Th￿ desuiption forms part of our Report of the Independent
Auditors.
Use of our report
This report is fflade solely to the charivs trustees, as a L￿. in accordance ￿ Part 4 of the Charities IAcLounts and
Reports) Regulations 20Q8. Our audit work has been undertaken so that we might state to the charity's trustees those
matters we are required lo slate lo them in an atjditors. report and for no other purpose. To the fullest extent permitted
by law, we do not accept or assume responsibility lo anyone other Ihan the charrty and the charitys trustees as a body,
fof our audit wo(k. fof this report, ￿ for the opinions we have fonned.
foi and on
MetherÈll Gard
Buin View
Bude
Cornwall
EX23 8BX
dit LLP
Date=
/J.r.2
Page 8

81onchmingt•r Trust
Statement of Firhancial Activities
for the Year Ended 31 Decgmber 202
2025
Total
funds
2024
Total
funds
Unrestrtded Endowm￿1
fvnd
fijnd
Notes
INCOME AND ENDOWMENTS FROM
Investment inctsrna
other income
5T2.432
1.497
572,432
1.497
558,246
504
Total
573.929
S73,929
658,750
EXPENDITURE ON
RaisSng fvnds
Investment management ttssts
492,783
660
493.443
4￿.940
492.783
485.940
Charitable actlvitigs
Educational grants
Communty grdnls
Relief in need grants
264.180
17.003
33,689
330
165
165
264,510
17.168
33,854
306.319
29.393
38,524
Total
807.655
1,320
808.975
860,176
Nel gainslllosso$1 on investments
141.224
118,3531
122,8Y1
1290,4941
INCOMEIIEXPENDITUREI
1919)21
119.673)
1112.1751
(591,9201
RECONCILIATION OF FUNDS
Total funds brought forwsrd
1.983.807
10.44£427
12.428,234
13,020,154
TOTAL FUNDS CARRIED FORWARD
1,891.305
10.424.754
12.316.059
12.428,234
The notes forrn part of these finanual statements
Page 9

Blanchmlnsler Tru
Balanc& S
Decwnber 2
2026
Total
ndg
21r24
TotsF
funds
Unrestricted EThI￿￿nant
fijt
nd
FIXED ASSETS
Tangible assets
Investsnents
10
11
3,310
1A99.076
79.720
10,345,034
83.030
11,844,110
86,236
12, 195,001
1.502,386
10.4247S4
11,927.140
12,281.237
CURRENT ASSETS
Stocks
Dèbtors
Cash at bank
12
13
14
249
48.526
437,036
249
48,526
437,036
340
57,659
146.583
485.811
48S.811
204,582
CREDITORS
Arnounts falling due within on8
15
196,8921
196,8921
{57,5851
NET CURRENT ASS￿8
384919
388,919
146,997
TOTAL ASSETS LESS CURRETr￿ UABIUTIES
1.891.305
10A24,7S4
12,316,lJ59
12,428.234
NET ASSETS
1.891.305
10,424,754
11316,059
12,428.234
FUNDS
Unrestrictsd knnds
EndowTrent fvnds
16
1,891.305
10,424,754
1,983,807
10,444,427
TOTAL FUNDS
11316,059
12,428,234
tat￿ntS were approved by Board of Trustees aThJ authoris8d ft>r issue
qT.¥.'.la.L..........
on
and were syned on its behawby".
C Nichols {S8n￿r Stockwardenl- Trustee
The notes form psrt Orth￿ finanrAal ststements
Page 10

Blanchminster Trust
Cash Flow Statement
for the Year Ended 31 December 2025
2025
2024
Notes
Cash Ilows fmm operating activltles
Cash generated from operations
1316.260)
1386,9801
Nel cash used in opeialing actNities
1316.26Ql
1366,9801
Cash flows from investing activiknes
Purchase of langible fixed assets
Purchase of fixed asset investments
Sale Of fixed asset investments
Net rents receNed
Interest received
Dividends recaved
{3,476}
1178.747}
126,238)
500.OOQ
89,385
977
42.589
19,083
8,416
51.391
Net cash provided byllused in> investing actithe5
6(6,713
1105.333)
Change In cash and cash equivalents In
the reporting period
Cash and cash equivalents al tho
beglnnlng of the reportlng perfod
290,453
1472.313)
146,583
618,896
Cash and cash equivalents at the end of
the reportlng perlod
437.036
146,583
The notes ftsrrn part of these financial statements
Page11

Blanchminster Trust
Notes to the Cash Flow Statement
for the Year Ended 31 December 202S
RECONCILtATION OF EXPENDrruRE TO NEf CASH FLOW FROM OPERATING ACTMTIES
2025
2024
Net expenditur¢ fwthe reportlng period {as per the Statsmgrrt ol
Financial Activities)
Adjustments for..
Depreciation charges
Loss on disposal of fued assets
Unrealised {gainlAosses on investments
Realised Igain}Aosses on investrnents
Nel rents received
Interest received
Dividends received
Decreasel{increasel in stocks
Increase in debtors
{Decrea5e)f1r￿Tea$e in ueditors
(112,17SI
1591,920)
3.145
61
155,8411
167,0301
142,2371
12,4151
139.5841
91
1411
12341
2,941
290,494
{22,0791
(2,2741
(51,6991
{2261
1201
7,803
Net cash used in operations
1316,2601
{366,9801
ANALYSIS OF CHANGES IN NEf FUNDS
At 1.1.25
Cash flow
At 31.12.25
Net
Cash al bank
146.583
290,453
437,036
146.583
290,453
437.036
Total
146.583
290,453
437.036
The notes fomi part of these financial slatements
Page 12

Blanchminster Trust
Notes to the Financlal Statements
for the Year Ended 31 December 202
ACCOUNTING POUCIES
Basis of preparing the financial statements
The finanGial 51atem¢nls of the tharity. whi(* is a public benefft entity under FRS 102, have been prepared in
accordance wlh the Ch8riles SORP {FRS 1021'Ac(x)unting and Reporting by Charities.. Slatemenl ol
Recommènded Practicè applieable to chanties preparing their accounts in acc£Jrdance wth the Financial
Repr)rting Stsndard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 20191.. Financial
Reporting Standard 1Q The Financial Retiorttllg Stsndard applicatAe in the UK and Republic of Ireland, and the
Charities Art 2011.
The financial Stat￿entS have been prepaffjd 10 9ive a Injg and fai¢ view and h8ve departed fr¢>m the Charities
{Acwunts and Report51 Regulations 2(M)8 only lo the exlenl required to prowde a 'true 8Trd fair view.. This
departure has invO￿ed lollowng the Accounting and Rewrtiny by Chariti"es'. Staletllenl of Recommended
Practice applicable to charities preparing their a¢C￿jnts in accordance vKth the FinÈnci81 Reporting Standard
Bpplicable in the UK and Republic of Irda￿1 effethvÈ from January 2019 rdther than the Accounting and
Reporting by Charitses.. Statement of RecomrrÉnded Pradtce eff¢¢tiV9 from 1 April 2005 which has sin¢e been
Ythhdmwn.
The financial statements are wepared on a going concem basis undèrthe histotical (x>st Etsnvèntion, modifièd to
include certain items al fair value.
The financial statements are presented in st￿￿ng which is the functional Ojfrency of the charity and iounded lo
the nearest £.
The wincipal 8(wunling prAi￿e$ adopted. judgements and key sources of ests'mation uncertainty in the
preparation of the finanrAal statements are as foifows..
Income
All incomino resovrces are indud&d in Ihé Statem￿* of Fin8n(i81 AdNities (SOFA) when the charity is legally
entitled to the income after any perfomiance conditions have been met, thty amount ¢an be mèasurod reliably
and il is probable that the income wll be re￿i¥￿J.
Donated goods ole measured at thetr fail value 3rKI irthded in Ir￿n}e. They are induded when the trust has
been nolified of theii entitlement. all cormlilions have been mel and the final amount is known and expected.
Donations and lega(aes 8re induded in in¢x)me wh8n the r*afity has been notified of their enlillemenl, all
conditions have been met. and the final amount is knovm and expected.
Rental income from investment woperty leased out under an operab.ng lèas8 is recognisèd in incomè on a
straight line ba￿S over the le&8e tem). Ary income ￿e￿Ved in advance is induded as a Credit￿ as shown in
nole 15.
Investment incryne from interest and dividends is shown in th8 accounts on a receivable basis.
EXpendI￿re
Liabilities ai& recogni$ed as expenditure a$ soon as there 15 a or constnjctive obligation committing the
haiity to that expend1ture. it 15 probable that a transfer of ec¢)nomic benefits will t￿ required in settlement and
the arnount of the obligatiorh be measured refiably. Expenditure is accounted lor on an acctuals basis and
has been dassified under headings that aggiogatè an related to the category.
In particular rai￿￿9 funds includes Pfopety management (xjsts ielab.ng to the investment property held as
Permanent Endowment.
Grallls payable are recognised as expendituie vthen the grant is approved by the Board of the Trustees and the
decision has been communicaled lo the Teupienl.
Allocatlon and apportionment of costs
Support costs are those that as54St th8 work of the tharity txjl do not direclly represent charitable aclivilies and
inejude office costs, govemance costs, adfflinistratNe payroll costs. Governance costs comprise of costs
involved in the public acctsunt8bdity of the Injsl and its cQTnpIi8n￿ regulation and good practice.
Support costs have been allocated and apwtboned on the basis of time spenl. further analysis is shown in note
Page 13
continued...

Blanchminster Trust
Notes to the Flnancial Statements - continued
for the Year Ended 31 December 2025
ACCOUNTING POLICIES- continued
Tangible r￿ed a¥¥ets
T8ngible fixed assets are stated al cx)st lor deewned Gost) or valuation ￿$S accumulated depreuation and
accumulated impairment losses. Cost includes costs diiectty altribLrtable to making thÉ assèt capable of
operating as intended.
Depre&ation is provided on all tsngible ffixed assets. al iales ral(xJlat¢d to ￿lIe off the cost. less estimated
residual value, of each asset on a systematic basis over its expeded useful lrfe as follows..
Freehold Land
Freehold Buildings
Fixtur88 and Fittings
2 /0 per annum on valuation
10Vv per annum on vnitten down b85iS
25°h per annum straight line basls
All fixtures and fftb'ng3 are induded at histmc cosi and ar8 revi6v￿ for impaimienl al each balan￿ sheet dale.
stocks
Stocks are valued al the lower of rA)8t and net ￿￿ISable value. aftèr making due allowance for obsolete and
slow rnoving rtem$.
Taxation
The charity is exempt from tax on its tharitable actsvi￿$.
Funds
Unrest￿cted
Unres1￿Cted funds are available for use al the Ifisc¥elion of the trustees in fvtherance ol the ggnoral objgctives
f the charity and which have not been ￿e￿gnated for ¢)ther purposes.
Endowmgrht
Endowment funds represent those assets must be held pettnanently by the charity. The investment and
freehold properly are shown in the financial statements as a pemianent endowment, in accordance wth the
trust's charity scheme as described in the Report of the Trustees. Inwme arising on the gndowrnert funds ca
be used in aCc￿danCe wth the objects of the charity and is induded as unreslricted income. Any capital 98111S
or losses arising on the investments lomi part of the end0￿ent fund. Other investments, which have been
purchased using the proceeds o* sales of frethold propety, are also indudwj in the endo￿ne￿I fund.
Other
Flnancial instruments
The trust only enters inta basic fin8ncial instsum6nts that resull in the recognition of finanaal assets and liabilities
such as rent, Irade arTrd olhef accounts reCeN0b￿ and payab￿, and cash held at bank. Further disclosures
¥elaling lo the financial instrutnents are given in the notes for pawb"cular ilems.
Debtors
Rent and other debtor5 are iecognised at the settlement amounl due after any dis¢T)unt offered. Prepayments
afe valued at Ihe amount piepaid nel of any discounts due.
Credttors
Creditors and provisions are recognised Nthere the c*arty has a preserrt obligation resulting fvom a past evènt
that wll probably resuft in Ihe transfer of funds to a Ihird party and the amounl due lo settle the obligation can be
measured or estimated reliatty. Creditors and provisTrons a￿ rewjnised at their settlement amount after
allowing for any discounls due.
Invgstment assets and unr•allsed gains
The valuation of the Investment Property is 8n imw>rtant factor in Ihe FInana￿ Statements and this is a key
source ot estimation un¢ertainty.
The portfolio of commeraal. mixed c0mmeruavresident￿[. Tesidenlial and agricultural property whid) make up
the investrnent property are measured at lair value at each Teporting date with changes in faiT value recogni5ed
in 'net g8ins l (losses) on investments. in the SOF
Page 14
conlinued...

Blanchmlnster Tnjst
Notes to thè Financial Statements- continued
for the Year Ended 31 December 2025
ACCOUNT1NG POUCIES- contlnuèd
Other
11 is the Iruslee8 ￿lIcY tts have a full independent quinquennial review completed by a valuer who holds a
recogni8ed and Televant professional qualifi￿tiOn and has recent experience in the location and class of the
property being valued. The quiwuennial ievw was Lqsl comp￿ted on 3161 December 2021 in accordan￿ wlh
RICS Valuation standard5. In the inlervening years in order to enswe the carrying amounts are al fair value. the
residential property is revalued in accordarK* to the Land Res¥stry house price index and the oommercial
properly values ar& 8djusted il therè is a matarial chaThJé in trircum5tanc8 With guid8nce being provided by an
independent valuei.
Invesltnerlt assets In th8 form of Ihg Chartb8s OffirAal Investment Fund shai8s. are Sh￿￿7 in the financi41
slxtèménts at fair v8lu8.
Unrealised gains orb investsDent and Dthw assets reptewrt the drferellcg the fair value al the end tsf
the yèar and:
I for invesknent and other assets hehj at the start of Ihe year. the fair value ai that date, or
lil for Investment and other assets acquired in the year, Ihe cost of acqwslb'¢)n.
Changes in fair value are recognised in the SOF
Employèè Bènèfits
When employees have rende￿ service lo the trust, short-temi eMI￿OYee benefits lo which the employees
are entiued are recognised al the undiscounted amount expeded lo be paid in exchange for that service.
The trust operat8S 8 defined (x)ntribution p]an for fhe benefft of its emFloyees. Contributions are expensed 88
they be¢om& payablo.
INVESTMENT INCOME
202S
2024
Rents received
Wayleaves
COIF- dwidends
Deposit acGounl Inte￿$t
530,073
360
39,584
Z,415
504.229
45
51.698
2,274
572,432
8,246
INVESTMENT MANAGEMENT COSTS
2025
2024
General insurance
Property repairs
General and water rates
Light and heal
Advertising
SuNeyors and valuers lees
Legal and profe6gon￿ fees
Support costs
39,629
333,667
18.S07
2,813
38,054
295,547
19,868
6,150
131
39,049
6,703
80,438
47,309
1.320
50.198
493,443
485.940
Page 15
continued...

BlanchminsterTrust
Notes to the Financial Statemerrts- cont5nued
for the Year Ended 31 December 2025
CHARITABLE ACTIVITIES COSTS
Grant
fun¢Jing of
activitTr8S
(see nole
51
Support
costs Ise8
note 6)
Total$
Educational grants
Community grants
Relief in need gran15
239.411
4,618
21,304
2S.099
11550
11S50
264,510
17.168
33,854
265.333
50,199
315,532
Th& obJ6ets of the trust are to makè grants in thr8È S￿(￿fiC area5'.
1. Rellef In need
The trust is lo give generalty or indiwduaty to petsons, who a￿ in cond￿0￿8 of need. hardship or di8lres$, by
grant of money or by providing SerVt￿ faalttses tr) al￿ate I￿S n86d.
2. Promotion of education
The trust is lo award a maintenance alowance, scholarship (x otherwise provide finanual assistance to pèrsons
who are in need of such assistance, to continue their StUd￿S. The trust is to also provide schoc*ls with special
benefits not norIn￿ty provided by the local education authority. The trust is to also provide f5nanaal assistance to
any charit8ble oig8nisakon whose objeds Ind￿ the promoth'on of education.
3. Communty aid
The Irusl is to prowde ffinawal a￿stanCe to local tharItab￿ org8nisations for thé b8nèfit of thè community.
GRANTS PAYABLE
2025
2024
Educational grants
Communty grants
Relief in need grants
239,411
4,618
21.304
266,099
9.282
18.413
265,333
293.794
The total giants paid to insltutions during the year a5 fouows..
202S
2024
Budehaven School
Sl Michaels Church
Bude Cricket Club
South Weslein Ambulance Services NHS Foundalion Trust
Sew N Sew Gioup
Sensory Trust
Blend
Bude ￿lMary Academy
The Wave Project
Coinwall Grows CIC
Sing Up Budèl
opy Monkey Ltmited
Cameo Self Help
Bude Bee Keepors
Budehaven ARB
8ude Boxin9 A￿dernY
7.288
4.000
1.000
1.200
500
500
250
5,000
3,300
11901
1,OOD
500
572
950
720
15721
890
11.906
1 S.662
Page 16
ntinued..,

BlanchmlnstsrTrust
Notes to the Flnanclal Statements - continued
for the Year Ended 31 D￿ernber 202
GRAwfs PAYABLE- contlnued
The fotal grants p8ld to irKlividuals during the year was a5 follcws..
2025
2024
Promotion of Education
Relief in Need
232,123
21,304
259,719
18,413
253,427
278.132
SUPPORT COSTS
Govemanc8
costs
Management
Totals
Investment management costs
Educational grants
Community granls
Relief in need gmnts
41,550
20,774
10.388
10,388
5D,198
25,099
12.SSO
12.550
4,32S
2,162
2,162
83.100
17.297
100.397
Actlvity
Management
Govemance costs
Basis of amocation
TIPAE SPE￿[
ME SPENT
Support costs. induded in the above. are as fdlows:
Managèmont
Inve5tmefrt
management
)sts
Educational
grants
Communrty
grants
Vvages
Pension8
Insuranc
Offic6 Utilities
Telephone
Printing and advertising
Postag6
Sundries
Office repatrs
Depreuation of tangible fixed a55els
Loss on sale of tangible ffixed assets
28.656
1,301
311
2,138
4SO
14,3Z8
650
156
1,068
225
171
130
319
2,926
786
15
7,164
325
78
534
113
85
260
638
5,850
1.573
30
160
1,463
393
41.550
20,774
10,388
202S
2024
Rdiel in
eed
grants
Total
activities
Total
tivities
Wages
Pensions
Insurance
Office ulililies
Telephone
Printing and advertising
7.164
325
7B
57.312
2,601
623
4,274
901
684
54,628
2,024
688
2.814
858
572
113
85
Carried forward
8.299
6Q395
61,582
Page 17
continU8d...

Blanchrninsler Tntst
Notes to the Financial 5tatemènts- contlnued
for the Year Ended
1 D*￿Mbtrr 2025
SUPPORT COSTS- Gon￿nU
Managernent- eonttnued
2025
2024
Relief in
Total
actiwties
Totsl
activities
grants
6roughl forward
Post89$
Sundries
Office repairs
Depreri8tion ol tangible ftted assets
Loss on sale of tangible fixed assets
8,299
65
160
1.463
393
66.395
520
1.277
11.702
3.145
61
61,582
820
959
77,764
2,940
10.388
83.100
144,065
Governance ¢¢sts
Investment
management Educational
o)sls
gran15
Communliy
grants
Audilor5' remuneration
Legal and profession￿ fees
3.725
4,923
1.863
2,462
931
1,231
8,648
4,325
2,162
2025
2024
Rel￿f in
need
grants
Totsl
aclivities
Total
activities
Audito￿, retlluneration
Leg81 and professional fees
931
1,231
7.450
9,847
6,900
9.915
1162
17.297
16,815
AUDITORS. REMUNERAnON
2025
2024
Fees payable to the tharity's auditors for th6 audi( of Ihe charilys finanlial
statements
7.450
6.900
The tot￿ audIt(￿S remuneration includes fees for non4urfrt services. The Th)n-audit seNices inojude assistance
th the preparation of the slatulory ac￿l￿tS, £9.478 has been allor2ted in govemance costs as legal and
professional fee5.
Page 18
continued...

Blanchmlnstsr Trust
Notes to the Financlal Statements . continued
the Year Ended 31 December 2025
TRUSTEES. REMUNERATION AND 8ENEFtrs
There were no Iwstees. iemuneration or other beneffts for the yeai endèd 31 December 2025 nor for the yeaT
ended 31 December 2024.
Trustees. expens&s
There werè no trustees. expenses paid for the year 8nde(1 31 D￿rnber 2025 nor for the year ended
31 Decamb￿ 2024.
STAFF COSTS
2025
2024
Wages and salaries
Other pension costs
57,312
2.601
54,626
2.024
59,913
5S,650
The 8vefage monthly number of emptoyee5 during the year was as follo¥¥s:
2025
2024
Staff {exduding trustees)
No ￿m￿OYeeS receNed emohJments in excess 01 £60,IMX).
The charity operates a defintrd contrlbution plan for 1he benefft of its ernployees. Contributitsns are expensed as
they become payablo.
Key managèmènt P8tsonnel salary lotals £37.913 for Ihe year (2024.. £34,392}.
10.
TANGIBLE FIXED ASSETS
Fixtures
and
Fitbng5
Freehold
Totals
COST
Al 1 January 2025
Disposals
85.000
1S,S39
12,2471
100,539
12,2471
At 31 December 2025
85.000
13,292
98,292
DEPRECIATION
At 1 January 2025
Charge for year
Eliminaled on disposal
3.960
1.320
10.343
1,825
{2,1861
14,303
3,145
12,1861
At 31 Decernbef 2025
5.280
9.982
1S,262
NET BOOK VALUE
Al 31 Decembei 2025
79,720
3.310
83,030
Al 31 December 2024
81.040
5,196
66,238
Freehold property indude5 freehold land estimated at £19.00012024.. £19.IJ)O) wlu.ch is not depreciated.
The tangible fixed assets are used in the management and administtatlon ol thE d￿rIty. The freehold property
was acquiied at no cost. The freehold properly was valued on Ihe satne basis as the commerc¢a1 investment
propefty detailed in the accounl'ng policy in note 1. in ordei lo ensure that the Carr￿ng amount does not differ
materially Irom the fair value at the end of Ihe Teporling period.
The freehold propety is incIL￿ed in Ihe endowment fund.
Page 19
conlinued..

BlanchmlnsterTrust
Notos to the Financial Statements- continuod
for the Year Ended 31 December 2025
11.
FIXED ASSET INVESTMENTS
COIFI
listed
shares
Investment
property
Totals
MARKET VALUE
Al 1 January 2025
Addtbons
Disposals
RÉvaluations
10.508.220
26,238
1.686.781
12.195,001
26,238
1432,9701
55,841
(432,9701
82.376
{26.5351
Al 31 D￿mber 2025
10.507.923
1,336,187
11,844,110
Ngr BOOK VALUE
Al 31 December 2025
10,507,923
1,336.187
11.844,110
At 31 December 2024
10,508.220
1,686.781
12,195,001
There we¥e no investment assets held outsK10 th8 UIQ
Cost or valuation at 31 DecemLEr2025 is iepresented by:
COIFI
listed
shares
Investment
property
Total8
Valuation in 2025
10.507.923
1.336,187
11,844,110
The investment property p(￿￿0710 has been valued in line wilh the accountiThJ policy in note 1.
Property
COIF
Histo(ical cost at 31 December 2025
1,332.268
266.575
COIF shares are allocated as follcA¥s'.
2025
2024
General fijnd
Enthwmenl fund
1.203.468
132.719
1,536.002
150.779
1,336,187
1.686,781
12.
STOCKS
2025
2024
Stock
249
340
Page 20
continued...

Blanchminster TruBt
Notes to the Flnancial Statements- con￿￿￿ed
for the Yeai Endèd
l December 2025
13.
DEBTORS: AMOUNTS FALUNG DUE WtThlN ONE YEAR
2025
2024
Rent debtors
Other deblors
Accrued investm8nl incorne feceNable
Prepayments
S,069
3,907
11330
27.220
12,692
6,000
13,897
25.070
48,526
57,659
14.
CASH AT BANK
2025
Total
furids
2024
Total
funds
Current acujunt
Deposit account
102,036
335,000
111.583
35,Th)0
Total
437.036
146,583
15.
CREDITORS.. AMOUNTS FALUNG DUE wrtHIN ONE YEAR
2025
2024
Grants payable
Other ueditors
Rents recwved in advance
Acuuals
1,200
29,325
46,564
19.803
4.293
5,450
31,803
16.039
96,892
57,5
18.
MOVEMENT IN FUNDS
Nel
movefflent
in funds
At
31.12.25
A11.1.25
Unrestricted lunds
General fund
1.983.807
{92.5021
1,891,305
Endowment funds
Endowment fund
10.444,42Y
119,6731
10,424.7S4
TOTAL FUNDS
12,428.234
1112,1751
12,316,OS9
Page 21
continued...

Blanchminster Tru
otss to the Financial Statements - continued
for thè Year Ended 31 December 2025
16.
MOVEMENT IN FUNDS- continued
Endowmentfund assets
2025
2024
F￿ehOld property {Blanchminsler offi(t)
Investment properties
COIF shares
79,720
10.212.31S
132,719
81,040
10,212,608
1SO,779
T¢)tal
10,424,754
10.444.427
17.
RELATED PARTY DISCLOSURES
There were no related party transactions forthe yèar 31 December 2025.
18.
GOING CONCERN
Tho trustees consider that the￿ are no Materi￿ uncertainties ab￿t the Trusys abilty tri continue as a going
19.
TRUSTEES INDEMNrrY INSURANCE
The main office Insuran￿ detailed in 5UPPOrt costs Ind￿leS twslees indemnity insurance.
Page 23