Charity Number: 213935 The Gordon Gra) Trust Trustees, Report and Unaudited Financial Statements for the year ended 30 September 2025 The Cordon Grav Trust Contents Page Referen¢e and adminisirdli¥¢ detai15 TJusie¢s repon Tndependeni exaniiner5 repon io Ihe trustees Staiement of financial uaiviries Balance sheei Notes to the financial slaiemen15 The Gordon GraTr Trust ReferenLe administratii'e detsils Status Th¢ chariii. was constituted b%, a TTUSI Deed dated ?2 Julj. 1900. as amended bi an Order of the CharitN' Comrnis&ioner5 dai¢d fj Auglisi ?004 and ResoluEions of ihe Irusiees daied 13 Seprernber 2(MJ4 and i l Auousi ?023. Trustees MrMWBaih Dr B GraK' Mrs M M tira). Miss R F Holmes iio ? l Februarj. ?0?51 Mrs R E Parkin Ifrom 6 June ?0)5) Mr l G A Roberis Dr l Teague Mrs S Waison-AmisirL7nti Clerk to the tru5ttes .I4rs M A Gras, Ch3rity nurnber 2139i5 Independent eiaminer5 BK Plu5 Ilnit% 4 and S Rockfield Bu5int55 Park Old Staiinn t)ribc Chelienham (Jloiicesiershire Gl.5) OAN, Bu5in¢ss address CJrani>e Fami Bredon Tcwk'esbu Gloucestershire GL20 7EL B#nker5 1.10s'ds Bank Private Banking 25 Gresham Street London EC?11 7HN LLL,A Investment mana￿JeMenl Lid l Antel Lane London EC4R 3AB Solicitors Willans LLP &)licirors 34 Imperial Square ChelienhaJn GloucesiershirL CJL_SO I QI The Gordon Grgj. Trust Trustees, report for the vear ended 30 Sepiember 2025 The irust¢es present Iheir annual Irport and financial s￿eMen15 of Ihe charil), for the year ended io SepieTnber ?O?_i The financial siaiemenis have been prepared in accordance Miih Ihe accouniino policies Set out in note 110 the accounts and complN' w iih the charin s Trust Dted. the Charities Aci ?01 l and ALcouniin£ ￿ld Rtportino bs C.harities.' Staiement ot Recommendtd PractlLe applicable 10 chariiies prewdrinu their accounts in accordance i¥ith the Financial Rewrtints Standard l O? leffective l January. ?015). Rtftrtnce *nd administrati¥t dei#i]s Sce pa(Te I truclure. goiern2nce and management 6()I'LrninK ducwiiiLJiiI. Tht Tru51 15 voTremLx4 kn. a Trust Deed dated 2? July 1960. as ani•ided bv an Order ot Ihe Chariii Commissioners d￿ed 5 AuLYU5t ?004 and Resoluiions of rhe Irusiee5 dated ?- SeplLmbir *(H)4 and I I Au￿?UsT ?0?- ( i)J711iiiiiiiin. Thc Trust is constituied accordinn (o the above. copies of M'hich aTe held bi, the Charity Cgmmi55i0n. AppcpiKim(Jlll <31'irtlJl¢L4. Ai the reques( of the Charily Commission on i Augusi 2004. a Resolution 'dS passed on _i Sepiember (W Iii¢r¢asinii iht m&xiniuni number oftrusttLS froni five to seien. The IrusieLS in posi before this date are ¢niiiled to hold office for lit¢. Appoiniinenis of Irllstte8 atttr thai dale arL for ihree lears.. however. a re15rinLi mjsiee Nho is compLienL io aci nia!, be reappointed ai the end ot-lheir t¢rni of oflice. New Iru51ees are details ol-the ChaFili' Con)mission websiie aiid rele%ani p￿bliCatiOnS. ioueiher iviih copies ol-uo%'emirtg documenis of Ihe Trust. 118 hisior). reeent minui¢s alld account5 and deiails of Iheir role In iis adminisiration. ()IxaniJ&(ions. Jlinli. To suppon a ￿arle[) of causes. both national and overs¢as. The inieniion is io provide tinancial assisiance ￿h¢re It Is mosi rteeded and smaller loeal charilie5 are often suppor(¢d where ihere is a minimum of admtnisrraiii'e cosi. Each iwsiee is encouiaoed tD be ai%are of parlicular needs flir charitable cause5 the¥" have proposed and to su(t£est additional fundints ￿here appropriate. "fheK' are also exptcied to repon il'a chariTh ha5 closed doii'n or 15 no lon?er in need of support. The Gordon Gray Trnst Trustee8' report for tbe year endd 30 September 202$ 3.4 Main Objea￿a¥fOr theveqr. Continuing supwrt f￿.. Medioal charities. Welfare of children and the elderly. EnvironmeTtthI and lo¢aJ Organisatio￿S. 3.5 &raiegtafnr achieving ihE ohjeciii'es. Many applicatiLin5 for funding are received. These are each read by one or more trnsiees and the rn0￿ apprOpri￿e are put forward for consideration at the Irus¢ees' meetings. For athninisirative the Itst of ￿lple￿IS is split into N'o groups ('ffjedicali disability, and 'other'l and donations are made 10 one of these groupg, usually in spring aild autumn.. however, as the timing abitrary. the trusiees haye some discretion dependent Oti particlliar need. 3.6 Gra￿-￿10k¢￿S polieies. Donations are io registered ¢harFties. Ir is not a wblrcy of the Trnst 10 Sup[￿ individuals. The principles of the Trusf's ￿1)c￿e$ are as w out on the Charity Commss5ioD website. AchtEvem¢nts and perform#4ee Main (Jchievements. Suppon for selected charities. giving PTeferellce to those demons￿ting 'valu¢ for money. and a miniTnum oladfftinistrative expense. Organ15ations rnvtslved tn medTcal and social welfare have particularlj Etncfiied. iogether Rith those involved in the conservation of chLTr¢hes and the counlry5tde. .￿aJor benefi¢iari¢s include Avon Xfavigation TnJ5t (£15.￿01, Cockermouth Mountsin Rescue Team (£.f,000), Kesw't¢k,Mountain Rescue Team (£5.IXM)), Médicins Sans Frontières (￿5,(￿0) and Midlands Air Ambulance ChwI￿.1£6.0oO). The total sum tsf all don*ion5 for ihe year was £192,025-. see the list of donatiOll5 included In the financial report. PerforiMfjKce objeaives. No specific perfomiArtce objectives have been put In place. F&J¥dr(7￿14g. The is noi involved ill fundrdtsrng activiti¢s. Ftsimre inGomegeneraiion andmaleriol erpenditsre. The income of the Trust is derived from." Interest payments from investtnents in CCLA subjea to a management ¢harge. Rem on farm knd and bJildiTrgs. NoTmal prop¢rty matntenan¢e applies. Rent from tele¢ommuni(aiions m&sts on fann land. 4.5 Etygrryalityltténc£¥ opjperforinunee. The maN)r pan of the Tru￿.5 in¢omr is from its investsnents in CCLA. A proponioT) of these inv¢smients was moved r￿n the COIF Chariries Deposit Fund to Ih¢ COIF Charities lii¥estment Fund in 2016. with a much iniproved re￿rn. revkw R￿￿￿&¥. Money is held in reserve to allow for." Donations io addilional eharFftes througlK)vt ihe year. MaEntenance of Trust property. Total fyrtds are £6.613 ?40. Freehold property is vafued at L?,458.680 and inve51m¢nis at £3,918.174. The liquid reserves are £236.387. 52 Fundingsoiirres. Rthrn on iDvestments and rentsl income. 5.3 SNppt>rr o/keJ' objeciives. By consistent supw)n of suitable chartties ￿ agreed by the trustee& I￿¢.wIP￿enipd1ey. To ensltre the TThst's short-i¢mJ income need5 are balanced with longer-ternTr growth prospects. The Gordon Gray Trust Trustee5' report for ihe year ended 30 September 2025 Future developments Aims apJd objeaTve3. The and objectives of th¢ Trust are unchanged {see above). Arf£Vlties underiaken io achieve aims and objertiwes. These iThclud¢ resular ￿¥1¢W of donations and Ihe personal intere51 given its thL5 by all u￿ste¢S. Siaiemeni of trusttts, r¢sponslbiliti¢s Chariry law Tequires the tsitstees io prepare fiiiancial stat¢mtnts for ea¢h financial year which give a ije and fair v%ew of the slate of affairs ofthe at the year end and of its incoming resources alld resources expended during year. In preparing those financial statements, the mjstees are required to= Sele¢1 5uithbSe ac¢ouniin8 polickes and then appl!. thetn COnSi51ently. Make judgemeois and esiimaies that are reasonable and Prudent. Prepare the financial 51aitments on the going conrern basis unle55 li is inappropriate to assume (I)*LI ihe charit). will ¢oniiRue 2n busine55. 7.2 The mJsi¢e¥ are T¢Sponsible foT keepipg proper accouniinÉ record5 which disclose wiih reasonable accuracv at anN time the fmanciai ￿sITIOn ofthe chariTh' and enable thcTn to ensure that the f￿anCIal staleTn¢nts comply with the Charities Act ?0 I l. They are a150 Tesponsible for ￿f¢￿uard}n￿ the assets olihe charity and hence foriaking reasonable step5 for the preventi{￿ and deiection of fraud and oih¢r irrryularithes. Independent examiners The trU￿etS rrtommend BK Plus remains in oifice untÉl ￿rther notice. This repon was approved by the trusi¢es on 6 FebrnaTy 2076 and sj" ed on their behalf by.. Dr B Grdy Chair of Tru5ttts The Gordon Gra￿. Tru.4t Independellt examiners. report to the truslees on the undudited financial statements I rep()n on rhe financial siaternenls of The Gordon Gra) Twsr fof the Vear ended JO September )O?S ￿h$ch Ll)llipT15e the staiement of tinancial acii¥ iii¥s. the balanre sheei and Ihe relaied notes. These fina)ILial qiaiemenis have ix'eii prepared under Iht historical cosi ¥onvenTion and th¢ a¢couniinL policies set Out therein. ¢spe¢tiie re5pon5ibilities of trusttt) examiDer• As rhe charili s trustets vou are responsible lor Ihe prepardiion ol-the account5 and l'ou coi)sider ihai rhe audit requiren)enr ot Section 1441?} of the Chariiies Act ?0 I I Iihe ?0 I I ALt} doe5 not apply. li is mi. responsibili(). ¢O-. eiainin¢ thL acL(Minis under Seriion 14$ of the ?0 I l Acr: to110￿. the procedures laid down in Ihe General Direciiorts 14i15iib} (Trt'the 2UI l Acti= and IIKert bs" Ihe Charti!. C(TrinmissioTr lunder %LCtion 5tal¢ i%h¢ihLr P4inicular matters hav¢ cotn¢ 10 our aueniion. Itasi$ Trf inde￿ndent eXarnine￿' r¢p)rt My examination ivas carried out in aicordance wilh the General Direciions given bi. the Chartty. Comn)is%ioners. An ¢xaminaiion includes a revieM' of the aicounttnu re¢ord> kepi b% ihL charin aiid a comparison of the financial slatetnents as prL￿ented ￿ iih Ihose recor(Js. It a150 includLS consideTdll()11 iTrt-anN- ￿nuSual item5 or disclosures in IhL financial %iatemen15. and Seeking explai)ations from IOU 415 tTusiees con£erninLi Such niall¥rs. The procLduTe% uDdirt3ken dii niit provide all ihe ei idence Ihai u'ould be requireij in an audii. and consequeiiilk I do noi ¢xpr¢s¥ an audi( opinioi? on the 4jiven bN Lh¢ financial sthiemcnis. IndepelldeNI eAaminers' staternent In cunnecrion with rn%' exainination. no m￿ter has come to dttenlE(In- I I I which Liives me reasonable cause 10 belicve Ihol In an!" IT]atenal respect Ihc reguiremenrs t() keep accounting rccorL15 It5 accordance M iih Seciion l.lo o(Ihe ?01 I ALI- and 10 pfLpdre linancial 5taitrnenis which accord with the accouniing record5 and to cotnplN w'iih ilie accoiiniiniy requirements ol'tht ?0 I I Aci 4lnd 1% iih thL meih()ds and principles of the AccounlinuT and Keporiin,. bl L'harrlie%." %latemeni ol" Keeommended Praaice applicable 10 charities prepariniy their accounrs in accordance I￿lIh Ihc Finan¢i(Il RtwirlinbT Siandard applicable in the UK attd Republic ol- Ireland Il--RS IU?) l¢fT¢ciive l JaniLaTh ?015 have nor been niei". or i_l its I￿1)Ith. ID m} opiii(oD. aiieiiiiort Should be dra￿"￿ in order to enable a proper underst3ndin4P Ot-the finwicial sldieinenrs io ￿ r¢aclied. R McKeown BK PIIJ5 Units 4 and S RockliLld Business Park Old Siaiion DTiie GIoucLStershire GL5J DAN 6 Februar¥ ?0•6 The Gordon Gr#y Trust tatement of financial actii.itie for the vear ended 30 September 2025 Unr2Strictcd fu￿d5 202.$ Yotes 2024 Intomin% relourtts Incoming rt50urces (rom g*￿trated funds IiiiiimL Iri)m in¥eqimini 11.3.6ti 2(I.SYA 21.248 1112.39¥ 31.1144 Total iThcomin% resources 148.5?1 Resources tipendEd 11)? U?5 4.115J 4_91X j_.IX 1.3.14 4..371 xix 169 ?Oi.Y99 1 $7.57? Goi'ernante ¢osts 1_7?4 Total resource5 exptnded ?07¥91 Net Iresourees expended befor¢ other r￿￿¥￿ISed glins losses 159.3701 Proliiiil.0s51 di%5Ki%al ot ￿'ChOla iniesimeni propert 8.680 4_3i.65_A Nti mowement in fund5 isn.6110) J21.855 6.?4? 117 'rotAI (uThd5 txrried forM#rd The nnt¢¥ ihe followine p8ge5 forrn inttgral par¢ of these finxncial 5tstements. The Gordon Gray Trn5t Balanee sheet as at 30 September 2025 Nrjtes 202S 2024 Fixed 455et5 Freehold invtsrmertt pmperty Investments 2.458.680 3.918,174 2.450.000 J.918,174 Current Debtors Cash ai bank and in hand 4J93 242.174 246.567 4,927 303,359 308.286 Credltors: amounts falling due Wllhin one year ¢urreDt assvts 10,181) 236.387 295.756 J¥et 4$5ets 6.613.?40 6.66i.gJO Fund5 Unrestrict¢d funds 6613,240 6,663 930 The financial siatements were approved by the trustees on 6 Febnjary 2026 and sÉgned on their beh￿r by.. Dr B Gray Trnstee mrmWB￿h Trustee The notes on the following pages form integr41 part ofthese fiTraneial st•tement The Gordon Grav Trnst Note5 to the finaneigl st*temeuts for tb¢ year ended 30 September 2025 l Aceountitsg ￿lICI¢S 1.1 AceouDtin8 convention The financial Statements rKepared under ihe histori¢al ¢onveniion with the exceptÈon of fr¢ehoRd md investment propen.v. which ar¢ included at Mark￿ tralue. The f￿ancIal statenieDts hav¢ been prepared in accordance with the Charities SORP IFRS 102)'Accouniing and Rel￿[n8 b> Ch8ritirs= Statement of Rtrommended Practice applicable io chatilles prewing their accounts in accordance with the Financial Reporting SiaAdard appli£able in the LIK and Rewblit of Ireland IFRS 102) (efftthive l January ?015)', and applicable accounting stsndaTds 8T￿ with the Chariiie5 A¢t 2011. 1.2 Fund a¢tountin8 Unre51rieted funds are generdl ￿nI15 that arc available f(K use at the m]stees' discreri¢)n in ￿rth¢ranCe of th¢ obiecti¥¢s of the charity. Designated fvnd5 are Iirtrestrided fund5 set aside at the di%reiion of the trusttts for spectfic purposes_ The designated fund for the rcvaluation reserve is that part of unrestricted funds that represents the revaluation of freehold iDve5tment propem.. IJ Incoming reso•r¢¢s Volunrary income is ￿￿e7¥ed ￿. way of donati¢)ns and sifts and is included in full in the stat¢ment of financial adivitlES when receivable. Gihs donated for resal¢ are included &5 income wben ihey &re sold. &8sets are included ai the value to the ch8ritv where this can be quantified and a third pty 15 bearing the COSL The valu¢ of services prol'ided by volun(ttrs has t￿1 be¢n included. Income from Invest￿ents is included in the year in which it is receivable. The charity is rcgistered for VAT. 1.4 Re50llrcd expended R¢sources expended ar¢ reeogE)ised in the year in which they tre incurred. Governance costs include those incurred in th¢ 8ov¢rnaTh¢e ofthe charity'5 assets and are primorily aSs￿l￿ed with Cot￿ltutIonal and 5￿Ul0ry requirements. l.5 Freehold I￿VeSt￿le￿I property Freehold investment propeny is included in the balance at its open market l'81ue in accordance wilh the S¢¢tion 16 of the accountlng stsndard FRS 102. The surpluses or deficiis on tevaluaÉion 8tt taken to the 51al¢meni of financial 2rfivitie5. D￿reCiation is Ilot provided in re$￿tt of ftr¢hold inveshnent property. 1.6 Fixed asset itThestThtnts Li5trd investsnent5 are carried at rnarket Yalu¢ • the Close of kniness on the balance sheet date. The Gordon Gra} Trust Notes to the financial statements for the Tr'ear ended 30 September 2025 Donations 2024 Acori?5 c.hildren s Hospice Action Medical Research A17.heimer s Researih UK Ali.heirner s Socitll Arthrit15 LIK AvoTr NaN iiJatTon -r￿st Ba55LI Ilound Rescue UK Bredon Iloai Races Bredon ou1￿ard Bound A55uciation British Heart Foundaiion Children s Hospice South Wesl Cobali H¢alih Co¢kem)ouih Mouniain RcscuL TeaTll Deatblind L'K Demeniia UK Dewull Air Anibulance Trust l)iabetes UK EllinLihain CE Priiniirw SL'hool Event NlobiliTh' Exmoor Se l.O(K 2.000 1.000 ?.000 -1,000 i.000 i.000 MariL Curie Médecins Sans Froniière5 Meyll Baker House Midlandi Air Ambulance Chari Ne￿ CvlleLJe IK'orLLSier New'eni Ass(Kiaiion for the Disabled l.O(K> 6.0(K> 1.000 ?.000 2.000 .000 ?.00 4.000 l.O(K) i.O(K) ?.ooo 6.000 1.000 ?.000 ?,000 ?.000 ?.000 Parkinslln % UK Pri)siare Cancer IIK RNLI Ros¢5 Theatre Trusi Roj'al Medical Beiitvoltnt Fund Sdmarilans Ichelrenham and Disrriet) Schn()IrLa(ler i.uo The Gordon Grav Trust Notes to the financial statements ror the )'ear ended.10 Septernber 202) Donations Icontinued) 2025 2024 ?.(M)O i.000 ?.000 4.000 2.0(K) 1.000 4.000 4.000 i.000 3.000 1.000 ?.000 ?.000 SLILTll Area Res¢u¢ Asio¢iaiion ISARAI %LvLrn Freeiihetlers F.VS ShelterEIcJx Sighisavers %1 Ann % I lo%pice i Michdel's Hu%piLe l Kichayd's Hospice ir()ke Ilssociaiion TLnbuTh Cornmuniii Piii)I Te￿.ke5burV Choral Sociei}' TL'Y¥kcsbiiTr and Di51rici W'hcel¢hair Bus Ass(Kiaiion TLw'k¢sbuTr Nciliire R¢scrve ThJnie%down Hi,droih¢rJpJ Pwl "Ihc Brain Tumour C-harli Tlie Fainil) I la*i'n 'hL %irLiions Ma&l:iir Trusi 14v) niiii> F'xlremL F.xplIi￿r SLiiul% I Inil 'IMfviiinb PCC UK ￿P51%.1-ru￿( Vale Wildlile HiTrspiial l i1dly(￿se Rural fTainini W'illoi+ TTUSt '!.I>L ValleN Di%41bled Children'4 Chaiii i.000 4.000 4.ono 3.(X)O 9.500 1,000 ?.000 1.000 1,000 l.(K)O ?.000 150 2.0(K) 200 i.uoo ?.000 2.0(K) 19?.02.5 14?,900 3 GoierNance costs 2024 Insurance ExEiininatinn alld acc0unthnc￿ fees Boukkieping 19) 1.892 4 Frethold iNVE51rnElIt properlTh' 2024 Valuation At JO 5epiember ?O?S and l October ?074 ?.448.6YO ?.450.000 Ihe trtthold investrTtent pro￿￿5 held b)" the chariii enn51s1s of fami land and buildin