THE MARY SLATER CHARir Registered Charity Number.. 215036 FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2025 Dains Audit Ltd Chartered Accountants 2 Chamberlain Square Paradise Circus Blrmingham B3 3AX
THE MARY SLATER CHARITY INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 PAGE 14 Annual Report Independent Examiners Report Slalement of Financial Activities Balance Sheet Notes to the Accounts 8-10
THE MARY SLATER CHARITY ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 Reference and administratlve infomiation Trustees: The Charity trustees who served during the year are.. Dr R W Henshaw Chairman Co-opted The Lord Bishop of Lichfield Ex officio Dr D Brown Co-opted Mrs L Flerning C04)pted Rev l Hayter Appointed 14 May 2025 Ex officio MrCKey Co-opted Ms C Pinder-smilh Appointed 14 May 2025 Ex officio Mr T J Roach Co-opted Mr S Schafer Terminated 14 May 2025 Ex officio Ms L J Simms Co-opted Mrs C Wood Terminated 14 May 2025 Ex officio Principal Address.. Mr S R James The Clerk to the Trustees Bank House Fam) Woodhouses Yoxall Staffs DE13 8NR Registered Charity Number.. 215036 Website: laler.or .uk Principal Bankers: National Weslminsler Bank plc Market Street Lichfield Staffs WS13 6LE Independent Examiner.. M Gurney FCCA, DChA of Dains Audit Ltd Chartered Accountants 2 Chamberlain Square Paradise Circus Birmingham B3 3AX Investment Advisers: RBC Brewin Dolphin 6th Foor, The Chatwin Building 81 Colmore Row Birmingham B3 2BA Page 1
THE MARY SLATER CHARITY ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025(Colltinued) Report of tbe Trustees for the year ended 31 December 2025 The trustees present their report along with the FinclaI Statements of the Charity for the year ended 31 December 2025. The Financial Statemenis have been preped in accordance with the accounting policies s¢t out on page 8 and comply with the Charity Commissioners, Schemes, the Ch1t]eS Act 2011 and A¢counting and Reporting by ChaTities.' Statement of Recommended Practice applicable lo charities preparing their accounts in accordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland effective I January 2019. History and Objectives and Activities for the Public Benefit The Mary Slater Charity founded in 1898 and is now govern¢d by Charity Commissioner5, Schemes dated the 16 November 1954 and the 17 September 1957. In addition by virtue of a sch¢me of the Charity Commissioners, dated 2 December 1955, the trustees are also the trustees of the Charity known as Lichfield Victoria Sick Poor Fund whose assets are incorporated in th¢ funds detailed in the Accounts and whose income is available to meet the same obje¢ts as the Mary Slat¢r Charity. The Charity does noi actively fundraise and seeks to continu¢ its philanthropic work through the Careful stewardship of its existing resources. Th¢ Charity provides &ssistan¢e to sick poor persons resident in the City of Lichfi¢ld or within two mil¢s from Lichfield Cathedral. A5SlStance tnay be given in all or any of the following ways or in such olher ways that the trusl¢es think fit.. a) the supply of special foods and medi¢ines, medical comforts, extra bedding, fuel and medical surgical appliances. b) the provision of domestic help. c) grants to defray the expenses of ¢onYales¢ence- d) th¢ relief of sufferin& disability or infimity. The trustees may apply the in¢ome of th¢ Chlty in supplementing relief or &ssistance provided out of public funds but income of ihe Charity shall in no case be applied in relief of public funds or so that any person may be¢ome entitled to a periodical or recurrent benefit from the Charity. Management *ttd Goverllance During 2023 a resolution was passed to increase the number of co-optative trustees. The Scheme now provides for the appointment of nine trustees, three ex-officio and six ¢o- optative. The ex-officio trustees are the Lord Bishop of Lichfield, the Mayor of Lichfield and the Sheriff of Lichfield. New eo-optative trustees are identified from people within the local community who have ihe necessary skills and interest and are appointed by th¢ remaining trustees. Co-optative trustees are appointed for a terni of five years. Page 2
THE MARY SLATER CHARITY ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (Continued) The induction pro¢ess for any newly appoinled trustee comprises an initial meeting with the Board of Tnjstees, at which a pack is provided. This includes a copy of the governing documenL a copy of the most recent annual report and a¢counts, copy minutes of previous trustees, meetings and a copy of the Charity Commission guidance 'The Essential Trustee, and 'Charities and Public Benefit,. The trustees nornially meet four times a year to consider grant applications and as and when appropriate the broad strategy and area of activity for Ihe Charity, including investments, reselves and risk management policies and performance. The day to day adrninistration of grants and the processing of applications prior to consideration by the trustees are delegated to the Clerk. Risk Review The Irustees have examined the major internal and extemal risks which the Charity faces and confim that systems have been established to minimise the risks. Grant Making Policy And Procedures The Charity is well-known in Lichfield and invites appli¢ations from both organisations and individuals. Each application is considered on its own merits. Grant application foms are available for download from ihe web5iie (maryslater.org.uk) or from the Clerk, whose address is shown on page l. On¢e an appli¢ation is received it is considered at the next meeting of the trustees, however special aTrangements are made if the application is consider¢d urgent. Achievements and Perforniance During the year an1$ totalling £33,087 were made. This compares wilh toial grants of £45,951 in the previous year. Finaneial Review Total funds at 31 December 2025 arnounled to £2,231,064, which comprised the endowment fund £1,905,165 and unr¢stricled funds £325,899. Free reserves at 31 De¢ember 2024 totalled £298,073. Th¢ reserves policy is to maintain reserves equivalent to approximately 12 rnonihs expenditure in order to provide a buffer against additional ¢xpenditure and stock market flu¢tuations. Reserves at 31 December 2025 exceed¢d this level. The trustees att ¢ontinuing their endeavours to raise the profile of the Charity- The investment portfolio is managed by external fund managers on a discretionary b15 to achieve a balanced retum from in¢orne and capital gr0h by accepting a moder&t¢ level of risk. The portfolio is subject to ethical restrictions. Over the year the investment portfolio generated a total return of 10.20/0 after fees. This ¢ompares with a rdurn of 14.3¢/0 in the RBC Brewin Dolphin Risk Category 6 index and 9.30/0 in the Asset Risk Consultants Steady Gr0rth index over the same pcriod. The perfom]an¢e of the portfolio is monito-,ed on a quarterly basis by the trustees. Page 3
THE MARY SLATER CHARITY ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (Cootinued) Public Benefit The Truste¢s confirn) that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning and setting their grant m8J(ing policy for the year and have complied with their duti¢s under the Charities Act 2011. Trustees, Responsibilities in R¢lation to tbe FiDaueial Statements The charity trustees are responsible for preparing a trustees, annual r¢port and financial statements in accordance with applicable law and United Kingdorn A¢¢ounting Standards {United Kingdom Generally Accepted Accounting Practi¢¢). Law applicable to charilies in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the Charity's financial activities during the year and of lis financial position al the end of the year. In pffparing those financial ateMents, the Trustees are required to.. select suitabl¢ accounting wlicies and then apply them consistently> observe the methods and principles in the Charities SORP (FRS102)' make judgetnents and estimates that are reasonable and prudent. state whether applicable aceounling standards have been followed, subject to any material departures dis¢losed and explained in the financial stat¢menls- prepare the financial ststements on the going concem basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financia] position of the Charity and io enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the governing document. They are algo responsible for safeguarding the assets of the Charity and hence for iaking reasonable sieps for the prevention and detection of fraud and other irregularities. Approved by the Trustees on 8 April 2026 and signed on their behalf by.. R W Henshaw
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MARY SLATER CHARITY I report lo the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2025 which are set out on pages 6-10. Responslbilities and basis of report As the charitys trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'lhe AoV)- I report in respect of my examination of the charitls accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515}Ibl of the Act. Independent examinerfs ststement I have completed my examination. I confirm that no material mallers have come lo my allenlion in connection wlh the examination giving me cause to believe thal in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the Act.. or 2. the accounts do not accord wfch those records.. or 3. the accounts do not comply with the accounting requirements concerning the form and conlenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a "true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other mallers in connection with the examination to which allenlion should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. M Gurney FCCA, DChA Chartered Accountant of Dains Audit Ltd 2 Chamberlain Square Paradise Circus Birmingham B3 3AX April 8. 2026 Page 5
THE MARY SLATER CHARITY STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2025 Unrestricted Endowment Income Funds Fund Total 2025 Total 2024 Notes Income and •ndowments from: Investments Income from listed investments Deposit interest and sirnilar income 60,950 2,907 60,950 2,907 59,868 2,603 Total Income 63,857 63,857 62,471 Expenditur• on: Charitable activities Clerk's salary Independent examinerfs fee Investment management charges Sundry expenses Total 33,087 7,500 1.500 1,111 1,240 44,438 33,087 7,500 1,500 11,115 1,240 54,442 45.951 6,220 1,140 10.813 529 64.653 10,004 10,004 Net gainslllossesl on investments 8,407 129,068 137,475 129,276 Net Incomelèxpenditur• 27,826 119,064 146,890 127,094 Net movemgnt in funds 27,826 119,064 146,890 127,094 Reconcillation of funds: Totsl funds brought forward 298,073 1,786.101 2,084,174 1.957,080 Total funds ¢arried ft*nward 325,899 1,905,165 2,231,064 2,084.174 Page 6
THE MARY SLATER CHARITY BALANCE SHEET 31 DECEMBER 2025 Unrestricted Endowment Income Funds Fund Totsl 202S Total 2024 Notes Fixed Assets Listed Investments 214,437 1,903.448 2,117,885 1,983,779 Current Assets Debtors Balances at Bank: Deposit CLJrrenl Total Current Asset8 5,664 5,664 6,795 106,391 2,526 114,581 4.323 110,714 2,526 118,904 52,479 56,113 115,387 4.323 Llabilitles: Creditors falling due within one year Net Current Assets 3,119 111,462 2,606 5,725 1.717 113,179 14,992 100.395 Net Assets 325,8gg 1,905,165 2,231,064 2,084,174 The funds of the charity.. Permanent endowment Unrestricted income funds Total charity funds 1.905,165 1,905,165 1,786,101 325,899 298,073 1,905,165 2,231,064 2,084,174 325,899 325,899 These financial statements were approved by the Board of Trustees on 8 April 2026 and signed on their behalf by.. R W Henshaw T J Roach Page 7
THE MARY SLATER CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 1 Accountlng Policies General The financial slalemenls have been prepared in accordance with Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland IFR51021 effective 1 January 2019 and the Financial Reporting Standard applicable in the UK and the Republic of Ireland {FRS1021 and the Charities Act 2011. The charity constilules a public benefit entity as defined by FRS 102. The financial slalements comply with FRS102. The financial slalements have been prepared under the historical cost convention wth items recognised al cost or transaction value unless olhemise slated in the relevant nolelsl lo these accounts. The financial statements have been prepared on an accruals basis. Grants payable are charged in the year when the offer is conveyed lo the recipient, except where the offer is conditional, SLtch grants being recognised as expenditure when the Gondilions attaching are fulfilled. The income fund comprises those assets which the trijstees are free lo use in accordance with the charitable objects. The endowment fund comprises those assets which musl be held permanently by the charity, principally inveslmenls. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unreslricled income. Any capital gains or losses arising on the investments form part of that fund. 2 Charitable artivltles 2025 2024 Grants lo Organisalions Grants lo 6 (2024-6} Individuals Cost of medical reports 18,100 14,987 40,867 4,784 31)0 33,087 45,951 Grants to oryanisatlons are as follows: Citizen's Advice South East Staffs Lichfield Talking News and Community Care Sl Giles Hospice MHA Communities South Staffs 18,100 15,350 1,019 5,000 19,498 40.867 18,100 3 Investment Management Chargès In 2024 the expenditure on investment management charges tola11ed £10,813 of which £1,102 was expenditure from unreslricled income funds and £9,711 was expenditure from the endowment fund. Page 8
THE MARY SLATER CHARI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 4 Trustees Remungratlon and Expen$è9 No remuneration directly or indirectly out of the funds of the Charity was paid or payable for the year lo any trustee or lo any person or persons known lo be connected with any of them. No expenses were paid lo any Trijstee during the year. {2024- nil) S Listed Investments Income Fund Endowment Fund Total 2025 Total 2024 Listed Investments Investment Portfolio Cash 200,895 13,542 214,437 1.8,950 12,498 1,903,448 2,091,845 26,040 2,117,885 1,981,671 2,108 1,983,779 Investments held at 01.01.25 Additions al cost Disposals al carrying value Add net gainl{lossl on revaluation Investments held at 31.12.25 197,476 25,000 129,9881 8,407 200,895 1,784.195 303,480 1325,7931 129,068 1,890,950 1,981.671 328,480 1355,7811 137,475 2,091,845 1.834.441 142,041 (124.0871 129,276 1,981,671 All investments are carried al their market value. All investments are quoted on the London Stock Exchange. Asset sales and purchases are recogniseé al the date of trade al cost Ithal is their transaction value) 202S 2024 6 Debtors Investment Income 5.664 6,795 In 2024 all debtors relate lo unreslricled income funds. 7 Bank balances 2025 2024 Deposit Current 110,714 2,526 113,240 52,479 56,113 108,592 Unrestricted income funds Endowmentfun 108,917 4,323 113,240 104,305 4,287 108,592 8 Credltors 2025 2024 Creditors and accrued expenses Grants aulhorised bL¢I not paid 5,725 5,243 9,749 10,865 5,725 Unrestricted income funds Endowment fund 3,119 2.606 5,725 12,499 2,493 10,865 Page 9
THE MARY SLATER CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 9 Related Party Transactlons There were no related paty transactions during the year {2024 - none}- 10 Analysis of Net Assets Between Funds Accumulated Income Fund Endowment Fund Total 2024 Fixed Assets Current Assets Current Liabilities Fund Balance 199,472 1,784,307 1,983.779 111.100 4,287 115,387 12,499 {2,4931 14,9921 298,073 1,786,101 2,084,174 Page 10