REGISTERED CHARITY NUMBER- 208667 REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 FOR THE ACU BENEVOLENT FUND Magma Audrt LLP 16 Davy Court Castle Mound Way Rugby, CV23 OUZ Magtna Audit LLP is part 01 the Dain8 Group
THE ACU BENEVOLENT FUND CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 Dèeomber 2025 Page Report of th* TTUStoès Rèport of the Indgpendertt Audltoys Statem•nt of Flnan¢lal Acttvitiès Balanee Sh•ot Not98 to tho Flnanclal Statsments 8 to 15
THE ACU BENEVOLENT FUND REPORT OF THE TRUSTEES for thè year ended 31 Dècèmber 2025 The trustees prÈsent th&r report with the financial statement5 of the charity for the year ended 31 Decernber 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Ststefflent of RemMeThded Practi aFpIlble to Charitie5 preparing their accounts in accofd?nce with the Finanoal Reporting Standard applicable in the UK and Republic of Ireland IFRS 102112nd Edition, effèctive January 20191 OBJECTIVES AND ACTIVITIES Slgnlficant aGtivities The fund was estsblished under a Trust Deed execured on 17 April 1950 and updated in 1982. 1995, 2002 and 2005 by deeds of v31iation. The Dbiect tsf the fund is to provide benefit to past and present Members and thali dependents ol ¢lubs affiligted to The Auto-cycle Union Limited (The ACUI by way of gr8nis. loans, educational fees or othewse as the administrative committee may deem fit and proper in deserving cases ol ne¥sity. The fund may derive income from donations. voluntary subseription5, bequests, payments under covenant, from The ACU. from membeis ol the public. 01 from any other source_ Grantrnaklng The charty invites applications from past and pSent members of The ACU andlor their dèp&ndents who find Ihetnselves in thmes of fin8ncial difficulty or hardship. however caused. Applications may be made for grants. loans. educational fee5 or Other support. The administrative committee assesses each cas8 Individually and considers whether they qu3lify for Support. Applicants are asked to provide the ntssary evidencè to SLtpport their application. ACHIEVEMENTS AND PERFORMANCE Thè total amount of grants paid to beneficiarie8 incréasett by 80'/b to £93.800 for the year compared to £58,637 for 2024. The number of recipi¢nts leiving help incrèssed to 54 12024.. 351. The amount of donations and legacies remived, includiry fines, increas8d by d14Vo from £61.679 10 £317,136. This increasè Is largely due to £260,027 of legacy incorne received In the year. The continued support of the various Centres, Clubs and individual supporters remains at high level and continues to provide one of the main sour8 of income. The Trustees onTr again reco9nise and appieciato the help and support of The ACU vthich includes the provision of valuable servi5 to the charity. The trustees and the invèstment managers have tn0n1tod the investrn¢nts closely during th8 y88r and consider that thg long tèmi strategy continu8S to be the right on8 for the charity The charty's investments have increased In value during the year giving rise to a realised gain of £21,16512024. £nill and unrealised gain of £407,5001216,4701. The net 9ains on thè investments were £428,66512024.. £216.4701_ FINANCIAL REVIEW Investmtnt policy and oble¢tlve$ The d8y to day management of the charty's investrnÈnts Is carrd out by tho investment man89er5 under instruction from the trustees. The managers are responsible for selèctiNJ appropriate investments to prDwde both income and capital gr¢)wth. There were no changes in the invesbrent policies ol the fund which coniinuè to be the pursuit ol real 9ro%¥th thrDugh a wide range ol investynents cOUed with a low risk. high return on certain Gash Investments, gov¢mment stocks, equit188 and bonds. Re$èr¥e$ poli¢y The trustses consider the reserve5 required should be sufficient to ensure the ¢haTrty is able to maintain the l?v&l ol support to those ented lo such assistance in the foreseeable future. The totsl amount of reseNes for the y88r is £5,119,075 12024 £4,363.4361. Grants are payable out of incotn8 each year, including Inveslment income. Grant applications are d9811 with at the trustees méetlll9 following receipt of the application, and the majority are successful. FINAhlCIAL INSTRUMENTS The principal financial instruments of the charity compri69 invastments, bank balances. tsther receivables and other payables. The main ptsrpose of these instruments is to raise funds lor the Charity's operations and tg finance its ¢ontinuing operations. Liquidity risk is managed by the use of a bank balance along with efficient monitorin9 of cash flows to ensure there ale sufficient funds to meet liabilities. Investments a managed in raspect of pri¢& risk by delégating the day to day rnanogetnent of the charity's in¥estments to the inv¢¥tment managers under instruction from the truste8s as detailed In thè Investment policy and objectives section. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The ¢har5ty is controlled by its goveming do¢umenl a detd of Irust and constitutss an unincorporated charity. Page 1
THE ACV BENEVOLENT FUND REPORT OF THE TRUSTEES for the year tndèd 31 Oecembef 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Oryanlsatlonal $truclure The trustees meet regularty to assess the grant applications and to approve or refuse applitrstions. The ACU has the power to appoint and remove trusteés. Prospective trustees are in¥rited to join the board of trusteès arter having atterKled meetings ol th8 administfative ¢ommitt8t. Risk management The trustees have a duty to identify and oview the risks to which the charity is exposed and to ensui¢ oppropriate ¢ontio15 are in place to provide reasonable assurance 398inBt fraud and error. REFERENCE ANO ADMINISTRATIVE DEYAILS Registered Chafity number 208567 Prlnclpal addre68 ACU Hous Wood Str8et Rugby Warwickshire CV212YX Tiu¥tg0$ R Hanks W Evans M Carter C Pattison L Francis Audltors Magma Audit LLP 16 Davy Court Casfje Mound W8y Rugby. CV23 OUZ Magma Audit LLP is part Of the Dains Group Bank¢rs C¢>operative Bank plc Yew Street Stockport Investment Managers Brewin Dolphin Securits Limite 16 St Helen's P18ce LtsniJon EC3A 6DE PUBLIC BENEFIT In setting the objectivps of the charity and planning our activitie5 the trustees have given Careful consideration to the Charity Commission's general guidance on public benefit In determining the range and level of support available to eligible claitnants the trustees endeavour to provide such asslstance as can be piovided to support ACU members pagt and present and their 18milies to dezl with a difficult 51tuation. AUDITORS Magme Audit LLP has expressed its wlllingness to remain In office as aLtditor. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustses a responsible for preparing the Report ol the Trustees gnd the financia1 statements in accordants with applicable law and United TrQngdom Accounting Slgndards (United lQ"ngdom Generally Accopled Accounb'ng Pr8ctie&l. Page 2
THE ACU BENEVOLENT FUND REPORT OF THE TRUSTEES for the year ended 31 December 2025 STA TEMENT OF YRUSTEES. RESPONSIBILITIES- continued The law applic2ble to charities in England and Wales. the Charititrs Act 2011, Chaiity IAcctsunts and Reportsl Regulations 2008 and the provisions of the trust dÈ6d requires the trustees to prepare financial statements for each finanoal year which give a true and fair view of the state ol affairs of the chaiity and of the incoming resour¢e$ and pplication of resour¢es. including the income and expenditu, ol the charity for that period. In preparing those financial $tsl¥menls. the trustees are required to select suitable accounting poli¢ie5 and then apply them consistently., observe the methods and prin¢ipSes in the Charity SORP, makejudg8mefits and estim2tes that are reasonable and prudent", prepare the financial statements on the going concem basis unles5 it is inappropriats to presume that th8 charity will continue in bu3in$s$. Tre trustees ar& responsie lor keepin9 proper aEcoL*nting record8 which disclose with r?8sonable accuracy at any tima the financial F0son of the Charity and to enab16 them to ensure that the financial statements comply with the CharEbès Att 2011, the Charity (Accounts and Reports) Regulations 2008 8nd the provisions of the trust deed. They ore also responsible for safeguarding the assets of the charity and hence for taking reasonable sieps ftsr the prevention and detection ol fraud and othèr irregularities. Approve(I by order of th$ board of trustees on . and signed on Its behalf by.. R Hanks- Trustee Page 3
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE ACU BENEVOLENT FUND Oplnlon We have audrted the financial statements of The ACU Benevolent Fund Ithè 'carity'l for the y&ar eTidecl 31 Decembef 2025 which cornprisg the Statement of Financial Aetivities, the Balance Sheet notes to the financial ststements, including a summary of $ignificant accounting policies. The financial repong framework that has bean applied in their preparation is applic8ble law and United Kingdom Accounting Standards Iunited Kingifom GeneIlY A¢pted Accounting Practice). In our opinion the fInaCIal statements.. give a true 8nd fair view of the stste of the charity's affairs as at 31 Dec8rnbèr 2025 and ol its INmIng $0rS and application ol resour¢es, for the year then ended., have been properly prtrpared in accordance wth Unitad Kingdom Generally Actepted Ac¢ounb"ng Pr8cticÈ'. and have been prepared in Bccordsnce with the requirerngtTrts of the Charities Art 2011. Basls for oplnlon We conducteLI our audit in accord8nce wth Internation81 Standards on Auditing IUKI IISAS IUKII and appli¢able law. Our responsibilitlés under those standards are further described in the Auditors, responsibilities for the audit of the financial stslements section of our report. We aTe independent of th8 charw in accordance with the ethical requirèments that are relevant to our audrt of the financial statements in the UK, including the FRC 3 Ethic81 Standard. and we have fulfillèd oui other ethical responsibilities in accordance with these requirements. We believe that the audit eviden we havè obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatlng to golng concorn In auditing the financial statements. w8 have concluded that th8 trustees, use of the going concern basis ol accounting in the pparation of the financial statements is #ppropriate. Based on the work w8 have perforrned. we h8vè nL>t identhfied any material unortainties relating to &vents or conditions thal, indiwdually or coll8eiively. may cast yignificafTrt doubt on the ¢h3rity's ability to continue as a going concErn for a p¢riod ol at least tselve Months from when thg financial statements are authorised for issue. Our Sponsibl14119s and the spOnSibl11t1es of the trustees with respect to going conm are dèscribed In the kwant gections of this report. other Inlonnotion The trustees are responsible lor the other inft)rrnation. The other informabon comprises the infotTnation included in the Annual Report. other thsn the financial slatemgnts and Qui Report of the Indèpendent Auditor3 thereon. Our opinion on the financial statements doè8 not cover the other information 8nrJ. expt to the ext¢nt othemise eXpl¢1Y ¥lated in our report, we do not express any form of Assurance con¢lusson thereon. In connection with our audit of th financial statements. our responsibility 1$ to read the other informstion and, in doing so. consiLfer whether the other infomalion is materially Inconsistent with th8 financial siatements or our knowle(Jge ot>tained In the audit or othemise appears to be rnaterially misstatsd. 11 we identify such material Inconsistencies or apparent gterial misstatements. wè are required to detetrnine whether this gIV8s rise to a material rnisstatètNÈnt in the financial ststernents themselves. If, based on the work we have performed. we conclude tttat the is a material misstatement ol this ¢ther Informatson. we are required to report that fact. Vve have nothing to report in this regard. Matters on whS¢h we are reqUId to roport by exception We have nothing to report In respect of the follovring matters wher8 the Charities IAccounts and Reportsl Regulations 2008 requires us to report to you if, in our opinion. the information given in the Report of the Trustèès is inconsistent in gny matefial respert with thè financial statements.. or sufficient accounting iecords have not been kèpt, or the financial statements are not in agreement with the accounting rècoryls and returns.. or we have not received all the inforn)ation an¢J explanations we r¢quire for our audit. Re8ponslbilllies of trustees As explained more fully In the Statement of Trustees. Responsibilities, the trustees 8re respot)sible for the preparation ol the financial Statèments which 9t a true and tsir view. and for such internal control as the trustees determine is ne$Sary to enable the pieparab'on of financial statemènts that are free from merial misststement. wheth8r due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the ehsrity's abilty lo continue as a going concern. disclosing, as 3pplicable, matters related to going concern and using the going concern basis of accourTrting unle$8 th8 trustees either intend to liquidate the charity or tè ase operations, or have no realistic 8lternativt but lo do so. Pagtr 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE ACU BENEVOLENT FUND Our fvsponsibllitles for the audit of the finan¢lal statements We have been appointed as auditors under Section 144 of the Charitiès Act 2011 and rgpprt in accordance with thè Act anrl relevant regvlatlgns m2de or having effect theUnder. Our objectives are to obtain reasonable assur3ncE about whether the Inancial statements 8S 8 whole are freg from mat61ial misststement, whether dLie to fraud or e[, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high Ve1 of assuran. but is not 8 guarantee that an audit condu¢t8d in 8ccord8nce with ISAS IUKI will alway5 detect a material misstatement when (( exists. Mi$statÈments can arise from fraud or error and are considered maten81 if, individually or in Ihe aggregate. they could reasonably be expected to influen the economic decisions ol user$ takÈn on the basi5 olthese finaneial statements. The extent to which our procedures are capable of rJete¢bno Irregularities, induding traud Is dètailed below." Based on our under5tznding of the charity. we Idents'fied the principal risks Of non-compliance with laws and regulations, gnd we considered the extent to which non-compliance might h3ve 3 material effect on ihe financial statements. We also considered those laws and regulation5 that have a direct impact on the financial staternènts such as the Ch81ities Act 2011. We evaluated managèment's incentwes and opportunities for fraudulent manipulabon of the financial staterrents (including the risk of override ol controls), and detettnined that the principal risks were related to posting inapprtspriate journsl èntries and managgment bias In aoUnting estimates. Audit procedures perfDm)ed included. discussions wrth trustees includin9 consider81ion of known or suspected instances of nonv¢ompli8nce with laws and regulation and fraud". challonging assumptions made by managernenl in thetr accounting estimates such as carrying value of listed inv65tments,' an identifying and testing cash book entries. in particul8r any entrie8 to ynusual suppliers or recipi8nts, or those that ar¢ material to the finanual statements There are inheient limitations in the 8udit wocedures d*scAbed above. We ar8 Lg$s likely to become aware tsf instances of non4ompliance with laws and regulations that are not closely related to events and transactipns rèflected in the finanryal 8tatements Mso, the risk ol not detecting a matèrial misstslement due to fraud is higher than the risk of not delectirig one resulting from error. as fraud may involve deliberate Goncealrnent by, tor example. foigory or intentional rnisrepresent8lions, or through collusitsn. A fvrth&r de5CriPtion ol our responsibilitie5 for the audit of thè financial statement5 is locatsd on the Fin8ncial Reporting Council's website at ww.frc.org.uklauditorsresponsibilitses. This description form5 Part of our Report of the Independent Auditors. V$9 of our reptsrt This report Is made solely to the charity's trustees, as a body, in a¢cordanc8 wth Part 4 of the Charib'es IAe¢ounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might 5t8te to the charivs truste25 thos8 matters w8 alè required to slate to them in an auditors, report and for no other purpose. To the fullest extent permitted by law. we dD not atpt or assurne responsibility to anyon8 Other than the Charity and the charivs trustsès As a body, for our audit work, for this report. or for the opinions we hav¢ foimed. Magma Audit LLP 1fj Davy Court C?sde Mound Way Rugby, CV23 OUZ Magma Audit LLP is part Ofthe Dains Group QI /04 12016 Date.. Page 5
THE A¢U BENEVOLENT FUND STATEMENT OF FINANCIAL ACTtVlTIES for th8 year ended 31 Decèmber 2025 2025 Unrestri¢t¢d lund 2024 Tota funds Nolgs INCOME AND ENDOWMENTS FROM Donations and 189acies 317,138 61,679 Other trading activ"èS Investment income 10,711 138.791 7,132 127.997 Totsl 486,638 196.B08 EXPENDITURE ON Roising lund5 32.303 28.511 Charitable actlvrtle$ Grants payable to individuals 93,800 58,637 Other 13,561 12,712 Totsl 139,664 99,860 Net gains on inv8Stments 428,665 216,470 NET INCOME 765,639 313.418 RECONCILIATION OF FUNDS Total funds brought lomard 4,363,436 4.050,018 TOTAL FUNDS CARRIED FORWARD ,119,075 4.363.438 Th& notes form part of Ise financial statem8nts Page 6
THEACU BENEVOLENT FUND BALANCE SHEET 31 Dèe•mbèT 2025 2025 Unrestricted fund 2024 Total funds Notès FIXED ASSETS Investments 13 5,002,941 4,302,541 CURRENT ASSETS stocks Debtors Cash ?t bank 14 15 2.604 21.401 104,624 3,713 17,639 51,989 128,6Z9 73,341 CREDITORS Amounts falling duÈ wthin one year 112,4951 112,4461 NET CURRENT ASSETS 116,134 60.895 TOTAL ASSETS LESS CURRENT LIABILITIES S.119,075 4,363.436 NET ASSETS 5.119.075 4,363.436 FUNDS Unrestricted funds 17 5,119,075 4.363.436 TOTAL FUNDS 5,119.076 4.363.436 The financial $talements wèrè approved by th8 Board of Trust¢ and authoiised lor issue and were Sned on its behalf by". on R Hanks- Trust8e The note8 form part of these finan¢ial ststements Page 7
THE ACU BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS forthe year endèd 31 De6ember 2025 GENERAL INFORMATION The charity is a norpcorporatè charity regiSt8r¢d in England and W81es. IVS principal addr85s is ACU House, Wotd Street. Rugby. Watwickshire, CV212YX and registered charity numbèr is 208567. ACCOUNTING POUCIES Summary of slgnTrficant accountlng pollcles The principal accounting policies applied in the preparation of the$e financial stat¢ments a set Ctul below. These policies have been consistentty applied lo all years presented, unless otherwise stated. Basis of preparing th¢ financial ststements Tre financial st8t¢m&nts ol the Charity, which is & public bengfrt entity under FRS 102, have been prep8red in accordance wth the Charities SORP IFRS 1021 'Accountiry and Reporting by Charities.. Ststemenl Df Recomrnended Practic8 applicable to ¢h8rities Pparing their aceounts in accordance wSth the FinBnoi81 Rèporting Standard applicable in the UK and Republic of Ireland IFRS 102112nd 8ditio. effective 1 January 20191., and the Charitie5 Act 2011. The financial statements have been ppared under Ihg hi5toiical cost Convention as modified by Lh6 revaluation of investments which are induded at mafket valu&. Tha eharity's fun¢tional currency and presentation currency is Sterling (£1. The financial 8t8temènts have been rounded to the neare$l £1. Golng con¢grn At 31 Oecember 2024 the chafity had net current assets of £116.134 12024. £60.8951 and nèt assets of £5.119,075 12024.. £4.363.4361. The trustees have assessed the r8quirements of the charity for at least twelve months from the signing Df the5È financial statements and have therefore prepared the finan¢ial statèments on a ooing concern basis. No m8terial uncertainty exists at the balance sheel date. Flnan¢ial reportlng standard 102. reduced disclosure exemptions The charity has taken advantsge of the following disclosure exemplions in prèparing these financial statements. as permittéd by FRS 102'The Fin8ncial Reporting Standard sppli¢able in the UK and Republic of Ireland.: th¢ iequiremenls of S8ction 7 Ststement of Cash Flows., the requirement ol paragraph 3.17ldl. In¢oming resour¢e$ l incoming resources are included tsn the Statement tsf Financial Activitl8s when tt)e charity is legally entitled to the in¢ome the amount can be quafitifiEd reason8blo accuracy. Income from donations is recognis#d where there is evidence of entitlernenl, r$ceipt Is probable and th8 amount can be méasured lIab. Donated saNices are in¢luiJed in the period in which th8 services were supplied. Legacies are a¢¢ounted for as they are received, or if belore recgipL fgllowing confirrnation of entluements. the rec8lPt is probable and value can bè measured. Distributions and interest on investments are includèd on tlie accruals basis by reference to tho due date of paymenl. All ¢thgr income is indud8d on the accruals b851$. Re8our¢e$ exp8ndeiJ Expenditure is accounted for on an accruals basis and h8$ b88n dassified under headings that a99regat8 81 costs related to the utegory. Where ¢osts cannot be ditlY attributed tts parti¢ular headings they have been allocated to activities on a basis ¢onsistent with the use of resources. Support ¢osts sre those costs incuTTed difecuy in support of Èxpenditure on the objectives of the charity. Irrecoverable VAT is eharged against the category ol S9[Ce5 expended for whi¢h it wa5 Incurred. Raising funds ¢onsist of investment management fees and trading Costs. Charitable actiwties Include dired expenditure asso¢iated with the payment of grants And support costs Governance costs include those incud in the governan ol the Gharty and are primarily asstsciated with ¢onsti¢utiorio1 and statutory requirernents. Page 8 continu&d...
THE ACU BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS- conunued for the year endgd 31 D?cÈmber 202S ACCOLINTING POUCIES . continued Rtsources expend8d Grants offererl subject to conditions a feco9nis8d in full within the stalernent of financial activities when the conditions are fully satisfied. Whgn the grant Conditions have not been met at the year end date these 9rants ar¢ noted as a corntnitment but not a¢¢ruad as expenditure. Tangibl• fixed assets Tangible fixed assets are stated at hi$toiical cost less accumulated depreciation and atny accumulatèd impairment 1055es. Historio81 cost indudes expendilure that is directly 8ttributable to brin9ing the asset to the location and condits.on necessary for it to be capable ol operating in the manner int8nd8d by management. Dep¢atIon is charged so as to allo¢ate thè cost ol assets k$s their residual value over their estimated useful livp¥, using either 8 Straight Itn¢ or redurAng balance method, as indicated below. Fixturès and fitb.ngs Equipment - 20Qk on redurAng b8lan¢e 33ty/0 on straight line Gain5 and IDSse$ on disposals are dètermined by comparing the proceeds with th¥ ¢arrying amounl and a rec¢gnised In the statement of financial activ.e5. Stotks Stock5 are stated at the lower of ¢¢>st 8nd estimated sellin9 pri¢e loss costs to complet8 and sell. Cost is based on the Cosl of purchase on a first in, first out basis. At each bOlan sheet date, stod(5 are assessed for impairrnent. If stock is impaired. the carrying amount is reduced to its sÈlllng Pri les& Costs to complete and sell. The impairment loss Is re¢o9nised Immediately in profil or10sS. Taxatkon The charity is 8xempl from tax on its ch3ritable activities. Fund a¢eountlng Unrestricted funds are available at thé discretion of the Irust8é5 In fvrtheran of the Charitable objecty'ves. Thè unrestricted funds arise from donatsons. legacies and other income reIVed or generated for charttable purpose¥ and represttnts the net surplus made by The ACU Benevolent Fund during its operations to date. Fixed asset tnve$tm9nts Investments are Included in the fin&nci81 statements at mid-m8rket value. The Statem8nt of Financial ActiMIig$ indudes net gains and losses aTtsin9 on revaluation and disposals throughout the year. Flnancial instruments The charity ha5 chosen to adopt the Se¢tions 11 and 12 of FRS 102 In sPect ol financial instruments. lil Financial assets Basic financial assets. includin9 debtors, cash and bank b8lanees and investments are inits.ally recogni3ed St transaction Pfice. unless the arrangement Conslitules a financing transaction. where the transaction is measured at the prgsent value ol the future receipts discounted at 8 market rate ol interest. Investments are subsequently carrigd at mid-market value Basic financial Iiatiilities. including crèditois ar8 inilialty recognised at trèn5aciion price, unless the arrangement constitutes a financing transaction, where the dgbt instrument 1$ measuréd at the present value of the future payments discounted at 8 market rate of interest. Ca8h and cash equlvalents Cash is represented by cash in hand and deposits with financial in$tilution5 repayable wlhoul panalty on noti of not more than 24 hour5. Cash equivalents are highly liquid investments that rnature in no more than three month8 from the date of acquisition and that are r¢odily converts.ble to known amounts ol cash wrth insignific&nt risk ol change in value. Pmge 9 ¢ontinued.
THE ACU BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS- contlnued for thè al ended 31 December 2025 CRITICAL A¢¢OUNTING JUDGEMENTS ANO KEY SOURCES OF ESTIMATION UNCERTAINTY The charity m8k8S èstimates and assumptions concerning thé futu. The resulting accounting estimates will, by definition. seldom equal the r8lated actual results. The 88timates at)d 395umption5 that have a significant risk of causing a material 8djustment to the [ryIng amounts of assets and liabil"e$ within th¢ next finanaal year arè eddtessed below. {il Carrying value of listed investments Thè listed invesbnents held by the charity ar$ sensitive to th8nges in fair value. A valu8tion is obtainecl from qualified valuei for each invgstment with sgffi¢ient r8gularity to ensure that the valuation Is not mAterially different from the fair val. The unrealised gains or losses arising from the annuol revaluation is re¢o9nised thwugh the statement of fiNancial activilies. DONATIONS AND LEGACIES 2026 2024 Donated samces DDThations Fines re1Ve Lega¢p Gift Aid 5,000 51,381 250 260,027 478 5,000 30,950 200 25,250 279 317,136 61,879 Grants reived, indud8d In the aL>ove. 8re 05 fg111)ws". 2025 2024 Other grant$ 478 279 OTHER TRADING ACTIVITIES 2025 2024 Sales ol bad98$ Book sales 10.711 6.949 183 10,711 7.132 INVESTMENT INCOME 2025 2024 Incorntr from investments 138,791 127,997 Pa9e 10 ¢onlnued...
THE ACU BENEVOLeNT FUND NOTES TO THE FINANCIAL STATEMeNTS . eontinuod tor the year ended 31 Dt¢emb8r 2025 RAISING FUNDS Other tradlng aclivitoes 2025 2024 Purehases 4,289 2.445 Inv¥$tment mana9ement ¢ts$ts 2025 2024 Portfolio mgnagement 28,014 26,066 Aggresats offlounts 32,303 28,511 CHARITABLE ACTIVITIES COSTS Grant funding ol activities (see note 91 Grants payable to indivi¢Juals 93,800 GRANTS PAYA3LE 2025 2024 Grants payable lo in¢Jividuals 93,80Q 56.637 10. SUPPORT COSTS Goveman costs Fin8nGe Oth¢1 Totals othèr resour$ expertded 61 2,469 11,031 13,561 11. TRUSTEES. REMUNERATION AND BENEFrrs During the year £100 was Pa to 5 tru$tees12024. 3 trustees) ol the ¢harity to cover their on-going expenses to carry out their ¢harit8bl2 duties. TMs1$. expensès During the year a total of £49412024.. £niS1 was paid to Trustees loi reitnbursod expense5. Page 11 conb'nugd...
THE ACU BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS- contlnued for the year ènded 31 De¢ember 2025 12. TANGIBLE FIXED ASSETS Fixtures and fith.ngs Equipmonl Totals COST At 1 January 2025 and 31 December 2025 3Z8 3,287 3.615 DEPRECL4TION Al l January 2025 and 31 December 2025 328 3,287 3,615 NET BOOK VALUE Al 31 December 2025 At 31 December 2024 FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At 1 January 2025 Additions Disposals Unrealised gasn 4.302,641 300,000 17,1001 407,500 At 31 Decembor 2025 5.002,941 NET BOOK VALUE Al 31 Decembei 2025 6.002,94f Al 31 December 2024 4,302.541 Thè 9èogrgphical locatr'on of fixed gsset investments 1$ as follows.. 2025 2024 IntheUK Outside the UK 3,630.645 1,472,296 3, 107,427 1,195,114 5,002.941 4.302.541 The composition of the investsllent fund is as ftslltsws.. 2025 2024 Ca3h Listed investments Unit trusts ond govemment stwk 174,398 3,440,170 1.388.373 104,208 3,049.210 1.149.123 5.002,941 4.302,541 Page 12 cuntinued...
THE ACU BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS . continued for thè year ended 31 December 2025 13. FIXED ASSET INVESThlENTS. contlnugd Fair valuÈ at 31 December 2025 is PIesented by. Revaluations Cost 1.869,029 3.133,912 5.002,941 14. STOCKS 2026 2024 Finished gtxJd8 2.604 3.713 15. DEBTORS.. AMOUNTS FALLING OUE WITHIN ONE YEAR 2025 2024 Prepaymtrnts and accrued ineomo 21.401 17,639 16. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Qthei creditors 12,495 12.446 17. MOVEMENT IN FUNDS Net mtsv&ment in funds At 111125 31112125 Unr8Strietèd funds Gen¢ro1 fund 4,383,436 765.639 5,119.075 TOTAL FUNDS 4,363.436 755,839 6.119,075 Net movemtrnt in funds, included in the above a as follow5. Incorninj resourc8S Resources expended Gain5 and losses Movement in funds Unrestricted funds General fund 466,638 1139,6641 428,665 755.639 TOTAL FUNDS 466,638 1139,6641 428.665 755,639 Pe 13 ctsntinued...
THE ACU BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS . ¢gntinved for the year end¢d 31 December 2025 17. MOVEMENT IN FUNDS - eontlntEed Comparatlve8 for movemont in funds Net mowement in funds At 31112124 At 111124 Unre¥lriet•d lunds General fund 4,050,018 313.418 4.363,436 TOTAL FUNDS 4.050,018 313,418 4.363.436 comparèb.ve net movement in funds, induded in tha above are as follows". Incoming resourees Resources expended Gains and losses Movement in lunds Unrostrlctsd fund$ General fvnd 196,808 199.8601 216,470 313.418 TOTAL FUNDS 196,808 199.8601 218.470 313.418 A current year 12 months and prior year 12 montks Combined position is as follow5". Nel movement in funds Al 31112125 At 111124 Unrestricted lunds General fun(S 4.050.018 1.069.057 5.119.075 TOTAL FUNDS 4.050.018 1,069,057 5,119,075 A CUrt year 12 months and prior ye¥r 12 months combined net movement in funds, Included in the 8bove are as follows.. Incom*ng f?50urces Resouf¢e5 expended Goins and losses Movement in funds Unrestricted funds General fund 663,446 1239.5241 645.135 1,069.057 TOTAL FUNDS 663,446 1239.5241 645,135 1.069,057 Page 14 continued...
THE ACU BENEVOLENT FUND NOTES TO THE FINANCIAL STATEMENTS- continued for th• year ended 31 Dec•mber 2025 18. RELATED PARTY DISCLOSURES Oth8r than trustees Honorarium payments rjisclosed in ntste 11 01 the financi81 statements, there were no lurther relatad patty transactions for the year ended 31 Owber 202512024.. £nill. Page 15