Charity registratlon number 207734 (England and Wales)
TIMBER TRADES, BENEVOLENT SOCIETY
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025

TIMBER TRADES, BENEVOLENT SOCIETY
LEGALAND ADMINISTRATIVE INFORMATION
Charlty number
ACO registratlon number
207734
1118605
Contact details
Email- info@ttbs.org.uk
Website - www.ttbs.org.uk
President
Paul Snape
Trustees
Richard Bagnall
John Taylor
Tony Shelton
IAppointed l May 20251
General Manager
Christella Golby
Registered office
Prospect House
Finlarigg Drive
Edgbaston
Birmingham
B15 3RH
Bankers
HSBC plc
165 Fleet st￿et
London
EC4A 2DY
Auditor
Burgis & Bullock
23-25 Waterloo Place
Leamington Spa
Warwick5hire
CV32 SLA
Solicitors
Lodder5 Solicitors
NumberTen
Elm Court
Arden Street
Straiford upon Avon
Warwickshire
CV37 6PA
Investment managers
Evelyn Partners
25 Moorgate
London
EC2R 6AY

TIMBER TRADES, BENEVOLENT SOCIErY
CONTENTS
Senior Tru51ee's Report
Trustees report
Statement of Trustees responsibilities
Independent auditor's ￿pOrt
Statement of finantial activitie5
io
Balance sheet
li
Notes to the financial statements
12-18

TIMBER TRADES, BENEVOLENT SOCIETY
SENIOR TRUSTEE'S REpoirr
FOR THE YEAR ENDED 31 DECEMBER 2025
It has been a busy and successful year for ThBS, marked by the introduction of many innovative ideas and a
wide range of promotional activlties.
At the start of the year. we reviewed our beneficiary payments and decided to consolldate these into four
quarterly payments, together with a Christmas payment and hamper. In addition, we may a5SlSt with TV
licences and mobile phone costs. Viswts by our regional committee members often highlight other ways in
which we can help, such as with replacing old and worn furniture and potentially dangeTOUS white goods.
This year we also provided a grant towards the cost of 3 specialSst wheelth8ir for one of our beneficiaries. We
continue to offer funeral grants where requested by farnilie5.
Our Marketing Committee continues to promote our charitable activities through the web51te, animated
video and social media. Our association with professional bodies enables us to offer financial I debt advice,
together with mental health 5UPPOrt.
During the year we launched an initiative aimed at promoting good mental health within the timber
industry. Mental Health First Alder5 are needed within our workplaces and to support this, we are organising
training courses sponsored by TT6S. Uptake has been encouraging and the feedback from participants has
been excellent. Mental health affects people of all ages and backgrounds, with many within the under 45 age
group being particularly at risk.
At our AGM in May, Paul Snape will complete his term as National President and will be appointed as a
Trustee, bringing us back to four Trustees. We are also delighted to announce that James Southern will
become our new National President.
We held a successful National Golf Day in july at Nottinghamshire Golf Club. sponsored by Taylor Maxwell.
Our regional committee5 have also organised many fundraising events ihroughout the year, including golf
day5, clay pigeon shootin& bowls competr(ions, dinner dances, curry nights and Christmas lunches.
Our Investment Managers, supported by Evelyn Partners. have produced excellent income and gains. We
have a150 received Substantial funds from activities organised by our regional commSttees, events held by a
number of Trade Associations and generous donations from companies within the trade as well as many
individuals, both current and retired. This has enabled TT8S to distribute £165,161 to our beneficiaries
during 2025.
Finally. I would like to record my sincere thanks to my fellow Trustees, the General Manager, the National
President and the members of the Board of Managernent for their support during the year.
Richard Bagnall
SeniorTrustee
Date:0) wof*lG

TIMBER TRADES, BENEVOLENT SOCIETY
TRUSTEE5 REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Trustees present their annual report and financial statements for the year ended 31 December 2025.
The financial statements have been prepa￿d in accordance with the accounting policies set out in note I to
the finantial statements and comply with the ThBS'5 governing document being the Rules of the Stheme, last
amended in June 2021. the Charities Act 2011 and "Accountin8 and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republie of Ireland IFRS 1021" leffedive I january 20191.
The Beneficiaries
During the year we reviewed the benefit5 paid to our beneficiaries. We decided to streamline these into four
quarterly payment5 plus a Christmas payment. The one-off payments previously made. including winter fuel
and cost-of-living grants, have now been incorporated into the regular quarterly payments. Where specific
additional support is required, this will be considered and dealt with as a one-off grant on an individual basis.
Income and gains from our investments. together with contributions from our regional committees. trade
associations and donations from companies and individuals in the trade, enabled us to maintain these
payment5 while a150 increasing our reserve5. These reserves are important to ensure that we can continue
supporting beneficiarie5 for many years to corne.
In recent years we have seen a balance between the number of new beneficlarles l0Snlng the scheme and
those who have sadly passed away. We continually challenge ourselves to increase the number of
beneficiarie5 because, based on the applications we receive. we know there are many people in need of
support.
The majority of the people we support are retired and elderly, with many being widows of former
employee5. The State Pension and government benefrts are often insufficient to cover their costs and provide
a modest level of comfort. As51Stance with food. energy costs, TV licences. telephone bills, and occasional
entertainment IS therefore greatly appreciated. Christmas hampers are also warmly received.
In addition, we support a number of younger beneficiaries who, due to illness or accidents, are unable to
support their spouse and children and therefore require assistance often for a short period of time. We have
also developed a number of new initiatives which will be disctjssed at our AGM.
To help promote our charitable activities, we have updated and restyled our website and produced a short
video which is shown at ThBS and trade funrtions to help communicate our message.
A further challenge is to attract new members - particularly younger people working in the industry - to join
our regional committees. This will help ensure the continuity of the regional committees and maintain dav-
to-day contact with companies in the industry.
Objertives and attivities
The object of the Society is to grant relief, by way of allowance or otherwlse and elther directly or Indirectly,
to deserving and necessitous member5 of the timber trade in the United kingdom, in such of its sectors as
the Trustees consider are cOVe￿d by our governing document and to widows and children of such members
of the trade.
During the year we continued to help those beneficiaries in need and to ra15e the necessary income. We
continued to seek new beneficiaries via our trade contacts and also through connections with other welfare
OT8anisations. We promote ThBS through our new51etters, our website and from membership of the
A5S0tiatlon of Charitable Actlvities IACOI.

TIMBER TRADES, BENEVOLENT SOCIETY
TRUSTEES REPORT (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2025
Public benefit
The Tru5tee5 have paid due regard to guidance issued by the Charity Commission in deciding what activitie5
the ThBS should undertake.
Achlevements and perFormance
We receive numerous letters, text messages, ernails, and telephone calls from our beneficiaries thanking us
for the financial assistance provided during the year and particularly for the Christmas hampers. To our
committee membe￿, thi5 is clear evidence that we are achieving our objectives.
Some beneficiaries requlre help with financial planning or assistance in obtaining State benefits. Whlle we
are not qualified to provide this advice directly, we have developed contècis to whom we can refer
individuals for appropriate guidance. This support has been greatly appreciated.
Our website and video help promote TFBS to timber companies and their employees, both past and
present. Using social media means we can not only promote ThBS and the support we can offer, but we can
also attract new beneficiaries. The applications we receive
and quitkly approve where appropriate
demonstrate that there are people In genuine need whom we are able to help.
Financial review
Our reserves at 31 December 2025 are £3,956,384. The Trustees believe these reseThes, represented by our
investments and bank balance5, are necessary to fund future distributions to beneficiaries, cover the running
costs of the Society and ensure the long-term future of ThBS.
Reserves Poliry
It is the policy of the rrBS that unrestricted funds which have not been designated for a Specific use should
be maintained at a level equivalent to between three and slx month's expenditure. The Trustees consider
that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to
continue the TTBS'S current activities while consideration is given to ways in which additional funds may be
raised. This level of reserves has been maintained throughout the year.
Major rlsks
The Trustees have assessed the major risks to which the TTBS is exposed, and are Satisfied that Systems are in
place to mitigate exposure to the major risks.
Structure. 8overnance and management
The Society is an unincorporated charity and the governing document 15 the Rules of the Society, last
amended in June 2021. The Rule5 are constantly kept under review and are lodged at the Charities
Commi55ion. Copies are available from the General Manager at info@ttbs.org.uk.
The Trustees who seNed during the year and up to the date of signature of the financial statements were..
Richard Bagnall
john Taylor
Tony Shelton
(Appointed l May 20251

TIMBER TRADES, BENEVOLENT SOCIETY
TRUSTEES REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2025
Induction and Tralnin8 of Trustees
The Trustees keep the skill requirements of the Trustee body under review and at such time as a vacancy
otcurs will, through discussion within and outside the trade, seek a suitable candidate. The views of the
Board of Management may be taken into account, but the ultimate decision on selection is a matter for the
Trustees. Any appointment will be confirmed at the next Annual General Meeting.
The Tru5tee5 report was approved by the Board of Trustees.
GOLL
Rithard Bagnall
SenlorTrustee
Christella Golby
General Manager
Date:
)-o&-_
Date..

TIMBER TRADES, BENEVOLENT SOCIETY
STATEMENTOF TRUSTEES RESPONSIBILITIES
FOR niE YEAR ENDED 31 DECEMBER 2025
The Trustees are responsible for preparing the Trustees Report and the financial statements in accordance
with applicable law and United Kingdom Accounting Standards Iunited Kin8dom Generally Accepted
Accounting Practice).
The law applicable to charities in Eng13nd 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 ThBS and of the incoming
resources and application of resources of the TTBS for that year.
In preparing these financial statements, the Trustees are required to..
selert suitable accounting policies and then apply them consistently..
observe the method5 and principle5 in the Charities SORP,.
make judgements and estimates that are reasonable and prvdent:
state whether applicable accounting standard5 have been followed, subject to any material departures
disclosed and explained in the financial 5tatement5' and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charity will continue in operation.
The Trustees a￿ responsible for keeping Sufficient accounting records that disclose with reasonable accuracy
at any time the financial position of the ThBS and enable them to ensure that the finantial statements
comply with the Charities Act 2011, the Charity IAccounts and Reports) Regulations 2(K)8 and the provisions
of the trust deed. They are also responsible for safeguarding the assets of the ThBS and hence for takin8
asonable step5 for the prevention and detection of fraud and other irre@ularities.

TIMBER TRADES, BENEVOLENT SOCIETY
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF TIMBER TRADES, BENEVOLENTSOCIErY
Opinion
We have audited the tinancial 51atements of Timber Trades, Benevolent Sotiety (the 'TTBS'I for the year
ended 31 December 2025 which comprise the statement of financial activities, the balance sheet and notes
to the financial statements, including 5ignrficant accounting policies. The financial reporting fiamework that
has been applied in their preparation is applicable law and United Kingdom Accounting Standard5. including
Financial Reporting Standard 102 The Finonciol Reporting Stondord upplAcable in the UK ond Republic of
Irelond Iunited Kingdom Generally Accepted Accounting Practicel.
In our opinbon, the financial statements..
give a true and fair view of the state of the charity's affairs as at 31 December 2025 and of its incoming
source5 and application of resources, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice,. and
have been prepared in accordance with the Charities Act 2011.
Basis for opinlon
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and
applicable law. Our responsibilities under those standards a￿ further described in the Auditors
responsibftlities for the oudit of the financlal stL7tements section of our report. We are independent of the
BS in accordance with the ethical requirements that are relevant to our audit of the financial statements in
the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basi5 for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of
accounting in the preparation of the financial Statements 15 appropriate.
Based on the work we have performed, we have not identifled any material uncertainties relating to events
or condltions that, individually or collectively, may cast significant doubt on the Th85's ability to continue as
going concern for a period of at least twelve rnonths from when the financial statements are authorised for
issue.
Our responsibilrties and the responsibblltles of the Trustees with respert to going concern are described in
the relevant sections of this report.

TIMBER TRADES, BENEVOLENT SOCIETY
INDEPENDENT AUDITOR'S REPORT ICONTINUEDI
TO THE TRUSTEES OF TIMBER TRADES, BENEVOLENT SOCIEri
Other Informatlon
The other information comprises the information included in the annual report other than the financial
statements and our auditor'5 report thereon. The Trustees are responsible for the other information
contained within the annual report. Our opinion on the financlal statements does not cover the other
information and we do not eypress any form of a55urance conclusion thereon. Our responsibility is to read
the other information and, in doing so. consider whether the other information is materially inconsistent
with the financial statements or our knowledge obtained in the course of the audit, or otherwise appear5 to
be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we
are required to determine whether this gives rise to a material misstatement in the financial statements
themselve5. 1*, based on the work we have performed. we conclude that there is a material misstatemer)t of
this other information, we are required to report thai fact.
We have nothing to report in this regard.
Matters on which we are requlred to report by exception
We have nothing to report in ￿SPect of the following matters in relation to whlch the Charities (Accounts
and Reports) Regulations 2008 requires us to report to you if, in our opinion..
the information given in the financial statements is inconsistent in any material respect with the
Trustees report,. or
sufficient accounting records have not been kept,. or
the financial statements are not in agreement with the accounting ￿COrd5- or
we have not received all the information and explanation5 we require for our audit.
Responsibilities of Trustees
As explained more fully in the statement of Trustees responsibilities, the Trustees are responsible for the
preparation of the financial statements and for being satisfied that they glve a true and fair view, and for such
internal control as the Trustees determine is necessary to enable the preparation of financial statements that
are free frorn material mi55tatement, whether due to fraud or error. In preparing the financial statements.
the Trustee5 are responsible for assessing the ThBS's ability to continue as a going concern, disclosing, as
applicable, matters ￿lated to going concern and using the goinB tonce¥n basis of accounting unless the
Trustees either intend to cease operation5, or have no realistic alternative but to do so.
Auditor's responsibilities lor the audlt of the financlal statements
We have been appointed as auditor under sertion 144 of the char￿leS Act 2011 and ￿port in accordance
with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtsin re8sonable assurance about whether the financial statements as a whole are
free from material mi5Statement, whether due to fraud or error. and to issue an auditor's report that includes
our opinion. Reasonable assurance is a high level of assurance but is not a guai3ntee that an audit conducted
in accordance with ISAS IUKI will always detect a material mi55tatement when it exists. Misstatements can
arise from fraud or erior arFd are considered rnaterial if, individually or in the aggregate, they could
reasonably be expected to influence the economic decisions of users taken on the basi5 of these financial
statements.

TIMBER TRADES, BENEVOLENT SOCIETY
INDEPENDENT AUDITOR'S REPORT ICONTINUEDI
TO THE TRUSTEES OF TIMBER TRADES, BENEVOLENT SOCIETY
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
proCedU￿S in line with our ￿spOnSIbl11t1e5, Outlined above. to detect material misstatements in respect of
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,
including fraud, is detailed below.
We gained an unde￿tandIng of the legal and regulatory framework applicable to the charity and the sector in
which it operates and assessed the extent of compliance with these laws and regulations as part of our
protedures on the related financial statement items.
Based on our understanding of the charity we identified that the prlncipal risk of non-compliance with laws
and regulations related to breaches of the Charities Act 2011,. Safeguarding and GDPR regulations,. and the
charitV'5 constitution. We also evaluated management incentive and opportunities for fraudulent
manipulations of the financial statements.
Audwt procedures perfomied included..
Identifying and assessing the design effectiveness of controls in management have in place to prevent
and detect fraud..
Challenging assumptions and judgments made by management in their significant accounting estimates
and assessing if these indicate evidence of management bias,.
Reviewing the actounting records for large and unusual bank payments or journal adjustments and
testing any identified and in particular the rationale for any trdnsactions which appear lo be outside of
the charity's objectives-
Testing a sample of debit entries in the profit and loss account to Check they are bona-fide costs in
accordance with the charity's objectives,.
Testing for the existence of related party transactions and confirming identity of ￿levant partie5 Wlth
Trustees,.
Discussions with management, including consideration of known or suspected incidences of non-
compliance with laws and regulation and fraud,.
A review of Trustee meeting minutes held throughout the year,.
Testing 3 sample of bank payments to source documentation or corroborating evidence , and
Reviewing the records fiom regional branches and comparing a sample to underlying source
documentation or other appropriate evidence to ensure they reflect expected results.
Because of the Inherent limitations of an audit, there is a risk that we will not detect all irregularities,
includin8 those leading to a material misstatement in the financial statements or non-compliance with
regulation. This risk inc￿35e$ the more that compliance with a law or regulation is removed from the events
and transartions reflected in the financial statements, as we will be less likely to become aware of instances
of non-compliance. The risk is also greater regardlng irregularities occurring due to fraud rather than error, as
fraud involves intentional concealment, forBery, collusion, omission or misrepresentatlon.
A further description of our responsibilities is available on the Financial Reportin8 Councifs website at..
https'.//www.frc.org.uk/auditorsresponslblllties. This description forms part of our auditols report.

TIMBER TRADES, BENEVOLENT SOCIETY
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEE5 OF TIMBER TRADES, BENEVOLENT SOCIETY
Other matters
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with
'Accountin8 and Reporting by Charities.. Statement of Recommended Practice applicable to charities
prepafing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021" las amendedl in preference to the Accounting and Reporting by Charitie5:
Statement of Recommended Practice issued on l April 2CX)5 which is referred to in the extant regulations but
has now been withdrawn.
This has been done in oriler for the financial statements to provide a true and falr vlew In accordance with
current Generally Accepted Accounting Practice.
This report is made solely to the charity's trustees. as a body, in accordance with Part 4 of the Charities
IAccount5 and Report51 Regulations 2008. Our audit work has been undertaken so that we might State to the
charity'5 trltstees those matters we are required to state to them in an auditor's report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other
than the charity and the charity's tru5tee5 as a body. for our audit work, for this report, or for the opinions
we have formed.
Wende Hubbard FCCA15enior Statutory Auditor)
for and on behalf of Burgls & Bullock
Chartered Accountants
Statutory Auditor
23-25 Waterloo Place
Leamlngton Spa
Warwickshire
CV32 SLA
Burgis & Bullock is eligible for appointment as auditor of the ThBS by virtue of its eligibility for appointment
as auditor of a company under section 1212 of the Companies Act 2(Ll6.

TIMBER TRADES, BENEVOLENT SOCIETY
STATEMENT OF FINANCIAL ACTIVMES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
Unrestrirted Unrestricted
funds
funds
2025
2024
Notes
Income from".
Donations and legacles
Regional events and national golf dav
Investments
30,154
101,395
90,299
15,649
111,298
95,109
Total Income
221,848
222,056
Ex
enditure on:
Raisin8 funds
Regional events and national Eolf dav
Investment management
71,002
14,295
79.909
13,507
85,297
93,416
Charitable artivities
204,CK)3
227,607
Totsl expenditure
289,3
321,023
Net gains on investments
466,839
268,404
Net movement in funds
399,387
169,437
Fund balances at l January 2025
3.556,997 3,387,560
Fund balances at 31 December 2025
3,956.384 3,556,997
The statement of financial activities includes all galns and 1055e5 recogni5ed in the year. All Income and
expenditure derive from continuing acttvities.
10-

TIMBER TRADES, BENEVOLENT SOCIETY
6ALAPyLt Slicfi
AS AT31 DECEMBER 2025
2025
2024
Notes
Fixed assets
Tangible assets
Investments
369
3,889,459
489
3,506,616
io
3,889,828
3,507,105
Current assets
Debtors Iprepaymentsl
Cash at bank and in hand
2,136
70,950
2,395
57,064
73,086
59,459
Creditors: amount5 falling due within
one year
li
16,5301
19,5671
Net current assets
66,556
49,892
Total assets less current liabilities
3,956,384
3,556.997
Income funds
Unrestricted funds
3,956,384
3,556,997
3,956,384
3,556.997
The fina
I statements were approved by the Trustees on .
Richard Bagnall
Senior Trustee
Paul Sna
President

TIMBER TRADES. BENEVOLENT SOCIETY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
A¢¢ounting policie5
Charity Informatlon
Timber Trades, Benevolent Soclety IThBS1 is an unincorporated charity registered wlth the Charity
Commission in England and Wales.
1.1 Basis of preparation
The financial Statements have been prepared in accordance with the the Charities Act 2011, FRS 102
"The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102,1 and the
Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable
to charitie5 preparing their accounts in accordance with the Finantial Reporting Standard applicable in
the UK and Republic of Ireland IFRS 1021" leffectlve I january 20191. The TTBS is a Public Benefrt Entity
as defined by FRS 102.
The rrBS ha5 taken advantage of the provisions in the SORP for charitie5 not to prepare a Statement of
Cash Flow5.
The financial statements have departed from the Charities IAccounts and Reports) Regulations 2008
only to the eKtent ￿qUired to provide a true and fair view. This departure has involved following the
Statement of Recommended Practice for charities applying FRS 102 rather than the version of the
Statement of Recommended Practbce whith is referred to in the Regulations but which has since been
withdrawrh.
The accounts a￿ prepared in sterling, which is the functional currency of TTBS. Monetary amounts in
these financial statements are iounded to the nearest £.
The financial statement5 have been prepa￿d under the historical cost convention modified to include
the revaluation of fixed asset investments at falr value. The Principal accounting policies adopted are
set out below.
1.2 Goin8 concern
At the time of approving the accounts, the Trustees have a reasonable expectation that rrBS has
adequate resource5 to continue in operational existence for the foreseeable future. Thus the Trustees
continue to adopt the going concern basis of accountin8 in preparing the accounts.
1.3 Charltable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their
charitable objective5.
Restricted funds are subject to specific conditions by donors as to how they may be used. TTBS does
not currently have any restricted funds.
1.4 Income
Income is recognised when rr8S is legally entitled to it after any performance conditions have been
met, the amounts can be measured reliably. and it is probable that income will be received.
12-

TIMBER TRADES, BENEVOLENT SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2025
Accounting policies
Icontinuedl
BS recognises donation income in the financial 5tatemenls when it is recelved. Income tsx
recoverable in relation to donations received under Gift Aid is recogni5ed at the time of the donation.
Legacies are recognised on receipt or otherwise if TTBS has been notified of an impendirhg distribution,
the amount is known, and receipt is expected. If the amount Is not known, the legacy is treated as a
contingent asset.
Regional Committees, funds
To compty with accounting and statutory reporting requirements, the
income, expenditure, assets and liabilities of ThBS Regional Committees, are included in the accounts,
however, the control of the Regional Commlttees, funds is the responsibility of the relevant Reglonal
Committee.
1.5 Expenditure
Expenditu￿ Is attounted for on an accruals basis and allocated to the appropriate heading in the
accounts.
1.6 Tangible fiJ(ed a$5ets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net
of depreciation and any impairment losses.
Depreciation is recognised so a5 to write off the cost or valuation of assets le55 their residual values
over their useful lives on the following bases..
Computers
20% on cost
The gain or loss arising on the disposal of an asset is determined a5 the difference between the sale
proceeds and the carrying value of the asset, and is recognised in the statement of financial activitie5.
1.7 Fixed asset investments
Fixed asset investments are initially measured at transaction price excludin8 transaction costs, and are
subsequently measured at fair value at each reporting date. Change5 in fair value are recognised in net
incomellexpenditurel for the year. Transaction costs are expensed as incurred.
1.8 Impalmient of fixed assets
At each reporting end date, TTBS reviews the carrying amounts of its tangible assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such
indication exists. the recoverable amount of the asset is estimated in order to determine the extent of
the impairment loss Irf any).
13-

TIMBER TRADES, BENEVOLENT SOCIErY
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR EAIDED 31 DECEMBER 2025
Accountin8 policies
(Continuedl
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less, bank overdrafts and regional fund5. TtBS
does not currently have any bank overdrafts.
1.10 Financial instruments
BS ha5 elected to apply the provisions of Section 11 of FRS 102 'Basic Financial Instruments, to all of
its financial instruments.
Financial instntments are recognised in ￿Bs,5 balance sheet when Th8S becomes party to the
contractual provisions of the instrument.
Bosicfinunciol assets
Basit financial assets include fixed asset investments, debtors. cash and bank balances. Fixed asset
investments are rneasured as stated in 1.7 above. Debtors, cash and bank balances are measured at
transaction price including transaction costs.
Buslcfinonclalllabllltles
Basic financial liabilities, are creditors and accruals which are measured at transactlon price Icash or
expected settlement amount).
1.11 Retirement benefits
Payments to defined contribution retirement benefit scheme5 are charged as an expense as they fall
due.
Critical accounting estimates and judgements
In the application of the TTBS'5 accounting policies. the Trustees ère required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily
apparerht frorn other source5. The estimates and associated assumptions are based on historical
experience and other factors that are considered to be relevant. Actual results may differ from these
estimates.
The estimates and underlying a55uniptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revislon affects only
that period. or in the period of the revislon and future periods where the revision affect5 both current
and future periods.
Analysis of expenditure on activrty basis
The Society has used judgement to allocate expenditure to its principal activities, Expenditure on
support costs, central overheads and general management Costs are split between costs of raising funds
and charitable activities on a percentage basis. determined by the proportion of employee time spent
on each artivity.
14-

TIMBER TRADES, BENEVOLENT SOCIETY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Raising funds
2025
2024
Regional events and national golf day
Staff cost5
53,297
17,705
63.120
16,789
Fundraising and publicity
Investment management
71,002
14,295
79,909
13,507
85,297
93.416
Included withrn regional event C05t5 are 5UPPOrt and governance costs amounting to £8,19612024
£11,174).
Charitable activities
2025
2024
Christmas gifts to beneficiaries
Quarterly allowances
TV licences & sets
Telephone allowances
Spring gifts to beneficiaries
Winter fuel grants
Cost of living grant
Grants to individua15
23,016
120,550
2,951
9,960
25.919
78,000
3,677
10,860
9,750
32,800
20,750
3,905
8,674
165,151
26,558
12.294
185,661
25,184
16,762
Slaff costs
Support and governance costs
204,003
227.607
Included in governan￿ costs are audit fees of £5,82012024- £6,120).
15-

TIMBER TRADES, BENEVOLENT SOCIETY
NOTES TO ThE ACCOUNTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Trustees
None of the Trustees lor any persons connected wlth them) received any remuneration. benefits or
expenses from ThBS during the year.
Employees
The average monthly number of employees durinE the year was:
2025
Number
2024
Number
Total
Employment Costs
2025
2024
Wages and salaries
Other pension costs
42,990
1,273
40,750
1,223
44,263
41.973
The salary and pension costs disclosed above relate to the remuneration of key management
personnel. There were no employees whose annual remuneration was more than £60,0Tr).
Taxation
The charity is exempt from tsxation on its activities because all its income is applied for charilable
purposes.
Net gains/(10ssesl on investments
2025
2024
Revaluation of investments
Gainlllossl on sale of investments
457,480
9,359
199,300
69,104
466,839
268,404
16-

TIMBER TRADES, BENEVOLENT SOCIETY
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Tangible fixed assets
Computers
Cost
At l January 2025
1,688
At 31 December 2025
1,688
Depreciation and impairment
At l January 2025
Depreciation charged in the year
1.199
120
At 31 December 2025
1,319
Carrying amount
At 31 December 2025
369
At 310ecember 2024
489
The Society also owns various golf trophies which were kindly donated by sponsors in previous year5.
These trophies a￿ not refleeted in fixed assets a5 no formal valuation has currently been obtained.
10 Fixed asset investments
Listed
investments
Cash in
portfolio
Totsl
Cost or Wdluation
At l January 2025
Additions
Cash movement
Gain/llossl on investments
Disposals
3,458,997
335.555
47,619
3,506.616
335,555
99,542
466,839
1519,0931
99,542
466,839
1519,0931
At 31 December 2025
3,742,298
147,161
3,889,459
Carrying amount
At 31 Oecember 2025
3,742,298
147,161
3,889,459
At 31 December 2024
3,458,997
47,619
3,506,616
17-

TIMBER TRADES, BENEVOLENT SOCIErY
NOTES TO THE ACCOUNTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2025
10 Fixed asset investments
IC¢ntSnuedl
Fixed asset investments revall￿d
The fair value of listed investments is determined by reference to the quoted price in an artive market
at the balance sheet date.
The historical cost of listed investments at the balance sheet date amounted to £2,754,96512024-
£2.618,1181.
The £466,839 of net gains on the Statement of financlal activitie5 comprise the revaluation of
investments and gainlllossl on investments a5 Stated above.
11 Credltors: amount5 falling due within one year
2025
2024
Other taxation and social security
Accruals and deferred income
710
678
8,889
5,820
6,530
9,567
12 Related party transa¢tlons
Key management remuneration has been disclosed in Note 6. There were no other disclosable related
party transactions during the year12024- none).
18-