Langdale Trust
Annual Report and Financial Statements
Year ended 30 November 2025
Charity number . 215317
Feltons
Chartered Accountants
Birmlngham
B1 3JR

Langdale Trust
Report and financial statements
Year ended 30 November 2025
Contents
Page
Reference and administrative details
Report of the trustees
Independent Examinerfs report on the financial statements
statement of financial activities
Balance sheet
Notes forming part of the financial stalemenls, incorporating..
Statement of accounting policies
other notes to the financial statements
11

Langdale Trust
Reference and AdminSstratlve Details
For the year ended 30 November 2025
Trustees
MrT R Wilson
Ms T M Wilson
Mr J M Elvin
Ms N Rieley
Secretary
Ms J Hobday
PrTncipal office and solicitors
Veale Wasbrough Vvzards LLP
Second Floor
3 Brindleyplace
Binningham B12JB
Charity number
215317
Independent examiner
Feltons
8 SovereFrs Court
8 Graham Street
Birmingham Bl 3JR
Bankers
Lloyds Bank PIC
Westminster House Branch
Epona House
Pheonix Way
Swansea SA7 9HG
Str£kbrokers and investment advisers
EFG Harris Allday
33 Great Charles Street
Birmingham B3 3JN
Gore Browne Investment Management
Delta House
12B North Park Road
North Yorkshire HG1 5PG
Fundament Limited
58-60 Berners Street
London W1T 3NQ
LGT Wealth Management
Minerva House
29 East Parade
Leeds LS15PS
Page 1

Langdale Trust
Trustees. Report
For the year ended 30 November 2025
The Iruslees present Ihelr annual report together with the financial statements of Langdale Trltst for the year
ended 30 November 2025 The financial slalemenls have been prepared in accordance with the accounting
policies sel out in note 1 to the accounts and comply with the trust's governing document, the Charities Act 2011
and Accounting 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 Republic
of Ireland published October 2019.
OBJECTIVES AND ACTIVITIES
Policies and objectlves
Under the Irusl's governing document. the Iruslees have wide powers of investment to apply the Trust Fund lo
charitable institutions or for other charitable purposes within the United Kingdom as the trustees in their absolute
discretion think fil from time lo time. The trustees have consislenlly followed such terms since the trust was
founded and this is confimied in the trust's grant making policy.
In shaping the trust's objectives for the year, planning ils aclivilies. and reviewing the trust's grant making policy.
the trustees have considered the Charity Commission's guidance on publi¢ benefit.
The trustees have monitored the progress of investments to ensu￿ that the trust is in a position to achieve ils
objectives.
Activities for achieving objectives
The trustees have made grants in the year tolalling £200,000 {2024'. £140,000) to various charitable institutions
in furtherance of the above objects.
ACHIEVEMENTS AND PERFORMANCE
Investment polity and performance
Historically, the investments have been in modest or medium risk securitie5 selected lo..
{al give a sufficient financial return to enable the trust to carry out its purposes effectively and without
disruption",
maintain, or if possible. enhance the capital value of the investments funds and income derived
therefrom in real terms".
obtain a reasonable balance between capital growth and income so that the trust can meet fvture as well
as current needs., and
avoid investments that are unduly risky.
Ibl
Icl
Idl
The trust's investments have performed satisfactorily against this policy. This investment policy is reviewed
annually by the trustees with the investment advisors and in line with Charity Commission guidance.
Having diversified the investment portrolio during year ended 30 November 2024, the trustees continue to have
four investment managers in place, each with their own objectives and parameters. The trustee5 wntinue to keep
their investments under review.
Page 2

Langdale Trust
Trustees, Report Icontlnuedl
For the year ended 30 November 2025
Flnanclal revlew
The attached financial stslemenls show the stale of the finances at 30 November 2025 which the Iruslees
consider to be sound. Dividends, interest and commission, being the charity's total income, amounted to
£147,96212024.' £195.2251. Total expenditure for the year amounted to £258,59712024.' £190.5611. The deficit
for the year before gains and losses was £110,63512024". £4,664 surplus).
At 30 November 2025, the net assets of the charity lolalled £5,967,206 12024 £5.525,069). This figure is
represented by the expendable endowment fund of £5,673,82312024. £5,246,055). an Unrestr￿ted designated
fund of £143,057 12024.. £223.3341 plus a general fund of £150.326 12024_ £55,680), and propety valued al
£224,40312024.' £224.4031. The trustees have included the investments of the charity al market value which is
considered to be the fair value on 30 November 2025 in accordance with ￿qUIrementS of the Statement of
Recommended Practice.. Accounting and Reporting by Charib'es.
The trustees consider the general fund to be the charity's reserves, to be called upon if needed to ensure that
the chaiity's running costs can be mel for tsvo lo three years. Owing lo the nature of the charity's work, i.e.
discrets"onary granl-making, the trustees acknowledge that if the charity were ever in a posib'on where its
investment portfolio was not producing sufficient income to make grants at the level previously made, the trustees
would have to reconsider its activities but are not obliged to make a certain level ol grants in any particular year.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
Langdale Trust is a charitable trust established by 0 Settlement dated 27 May 1960 Ilhe Settiementl. This trust
was established to enable gifts to be made to other charities.
On 8 June 2012. the trustees passed a resolution pursuant to Section 280 of the Charities Act 201110 include
additional administrative provisions in the selllement. On 23 July 2021, the trustees passed a resolution pursuant
lo Section 280 of the Charities Act 201110 include provisions that pemiit electronic meetings to be held.
Method of appointment or election of trustees and day-to4ay managernent
Trustees are appointed by existing trustees by Deed of Appointment. The tru5tee5 who served during the year
are set out on page 1.
Trustees meet annually lo oversee the govemance of the trust, agree the broad strategy and areas of activity for
the trust including consideration of granl-making, reserves and risk management, policies and perfomiance.
Day-to-day management of the trusys investments is delegated to the investment advisors on a discretionary
investment managed basis. The Iruslees annually review the slalement of investment policy which govems the
discretionary parameters.
Day to day administratson is delegated to the trustee's solicitors, Veale Wasbrough Vvzards.
The trustees are developing an induction pack for new trustees and keep training needs under review.
The Iruslees assess applications and award grants in line with their grant making policy.
Page 3

Langdale Trust
Tru$to•$' Report Icontinugdl
For the year ended 30 Novem￿r 2025
Rlsk managemont
There are no major risks identified by the trustees, though the trustees are aware that thg majority of the trusys
investments are subject lo variatsons in the stock market lo which the trust is exposed. These risks are reviewed
annualty by the trustees with the investment advisors who monitor the non-pfopety investments The Iruslees
also review the Irusl's property Portfolio with advisors. The Iruslees receive details of seminars on matters
affecting charities lo assess them in meeting their Iraining needs. The Iruslees maintain appropiiate insurance
cover.
FUTURE DEVELOPMENTS
The trustees tAan lo continue the Irus¥s existing ath'vities, whilst monitoring invesbmenl markets.
TRUSTEES. RESPONSIBILITIES STATEMENT
The trustees are responsible for preparing the trustees, report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Pracb"cel.
The law applicable to cttarit￿ in England and Wales requires the trustees lo p￿pare financial Statements lor
each financial yeaf which give a tTue and fair view DI the stale of affairs of the Charity and of the incoming
resources and application ol resoufces of the charity for that period. In prepar¢ng these finarrial stslemenls. the
trustees are required lo.
select suitable accounting policies and then apply them consistent￿-
observe the methods and prirKlp￿S in the Charities SORP 2019 IFRS1021',
make judgments and accounting estimates that are reasonable and prudenL
stale whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial slalemenls",
prepare the financial Stater￿nts on the going con￿rn basis unless it is inappropriate to presume that the
harty will continue in operation
The tnjstees are responsible for keeplng proper accountsng records Ihal are sufficient to show and explain the
tharity's transactions and disdose with reasonable accuracy al any lime the financial position of the charity and
enable them lo ensure that the financial statements comply with the Charities kl 2011, the Charity (Accounts
and Reports) Regulations 2008 and the provisions of the Irusl deed They are also responsible for safeguarding
the assets of the eharty and hence for taking reasonable steps for the prevention and det￿ts.0n of fraud and
other irregularities.
This rep)rt was approved by the Irustses on 5 June 2026 and signed on their behalf by..
Mr J M Elvin
Trusteg
Page 4

Independent Examlnerfs Report to the Trustees of
Langdale Trust
I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 November 2025
which are set out on pages 6 10 15.
Responsibilities and basis of re5>0rt
As the charitys trustees, you are responsible for the prèparation of the accounts in accordance wlh the requirements
of the Charitie5 Act 20111'lhe Adl.
I report in respect of my examination of the charit￿S accounts carried out under section 145 of the Act and in carying
out my examination, I have followed all the applicable Directions given by the Charity Commission under section
14515}Ibl of the Act.
Indepgndent examlnerfs statem9nt
Your attention is draym to the fact that the charity has prepared the account5 in accordance with Accounting and
Reporting by Charities." Slalement of Recommended Practice applicable lo charities preparing their accounts In
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019
in preference lo the Accounting and Reporting by Charities.. Slalemenl ol Recommended Practice issued on 1 April
2005 which is referred to in the extant regulations but has been wf(hdrawn.
l understand that this has been done in order for the accounts to provide a Inje and fair view in accordan¢e with the
Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
I have completed my examination. I confirni that no material matters have ¢omo to my attention in connection with the
exaTnination giving rne cause to believe that in any material respect..
accounting records were not kept in resped of the charity as required by section 130 of the Act,. or
the aecounls do not accord wrth those records, or
the accounts do not comply with the applicable requirements wn¢erning the form and content of accounts set
out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts
give a 'lrue and fair Vie￿ which is not a matter considered as part of an independent examination.
I have no Concerns and have come across no other matters in connection with the examination to which attention
should be drawn in this report in order lo enable a proper understanding of the a￿ount$ lo be reached.
David W Farnsworth FCA
For and on behalf of Feltons
Feltons Chartered Accountants
8 Sovereign Court
8 Graham Street
Birmingham B1 3JR
P4e5

Langdale Trust
Statement of financial activities
for the year ended 30 November 2025
Unrestrlcted
fund$
Endowment
funds
Total
2025
Total
2024
Notss
Income
Investments
147,962
147.962
195,225
Total Income
147,962
147,962
195,225
Expenditure
Costs of raising funds .
Management costs
Charilable activilies..
Grants to inslilulions
Support costs
1,053
44.926
45,979
38,517
119.922
12,818
80,078
200,000
12.618
140.000
12,044
Total •xpenditure
133,593
125,004
258,597
190,561
Net incomellexpenditurel before
investmènt gainsl(loss*sl
14,369
1125,0041
1110.6351
4,664
Net gains on investments
10
552.772
552,772
389,243
Nat Incomèllexpondltvr¢l bèfore
transfers
14.369
427,768
442,137
393.907
Gross transfers between fund8
Net movement in funds
14,369
427,768
442.137
393,907
Re¢onclliation of funds
Total funds brought forward
10
279,014
5,246,055
5.525,069
5,131,162
Totsl fvnd$ ¢arri•d forward
293,383
5,673.823
5,967,206
5,525,069
All of the charity's activities derive frorn continuin9 operations during the above two financial periods.
Page 6

Langdale Trust
Balance sheet
• at 30 November 2025
2025
2024
Not•¥
Flx•d aasets
Investment property
Investrnents
224.403
5,616.885
5.841,288
224,403
5.238,727
5,463,130
Currant 48¥et•
Debtors
Cash at bank and in hand
33.299
99.780
133,059
29.636
39,023
68,859
Cr8ditor¥: 4mounts falllng
due wlthin ono year
7.141
6.720
N•t ctsrr•rt ays
125,918
81.939
Not a$8•ts
5,967.206
5,525,C69
Fund$ of th• charlty..
Unr85trided funds
EndowTnent funds
io
10
293.383
5,673.823
279,014
5.246.055
Total funds
5,967.206
5,525,089
Th8 financial statements were approved by the board of trustee$ on 5 Jun• 2026 and ￿pre signed on Its b•half by..
Mr J M Elvln- Tru8ts•
The not•s on pages 8 to 15 form part of these aecounls.
Pa99 7

Langdale Trust
Notes to the financial statements
for the year ended 30 November 2025
1. Accounting pollcles
al General infomiatlon
Langdale Trust is an unincorporated charitable trust registered in England and Wales. The address of the
principal office is given in the refe￿nce and administrative details of the charity on page 1 of these financial
statements. The nalure of the charity's operations Is to apply the trust fund to charitable in5tilubons or for other
charitsble purposes within the United Kingdom.
bl Basis of preparatlon of flnan¢lal $tst8ments
The financial statements have been prepared lo give a ttrue and fairf view and have departed from the
Charitie5 IAccoun15 and Rep(>rtsl Regulations 2008 only to the extent required to provide a 'true and fair view,
This departure has involved following the Accounting and Reporting by Charities.. Slalemenl of Recommended
Practice applicable lo charities p￿parIng their accounts in accordance with the Financial Repo*tng Standard
applicable in the UK and Republic of Ireland issued in October 2019 rather than the Ac¢¢unts'ng and Reporting
by Charities." Stslement of Recommended Practice effective from 1 April 2005 which has since been
withdrawn.
The financial stalemenls have been prepared in a¢¢ordance wth Accounting 8nd Reporting by Charilie5'.
Statement of Recommended Pra¢li¢e applicable lo charities preparing their accounts in a¢cordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 Iwilh early
adoption permitted), the Financial Repoth'ng Standard applicable in the United Kingdom and Republic of
Ireland IFRS 1021 and the Charities Act 2011 and UK Generally Accepted Accounting Pra¢lice.
The charity constitutes a public benefit entity as defined by FRS 102. The financial slalemen15 are prepared
under the historical cost convention unless othe￿ise slated in the relevant accounting policy note.
c} Going concern
The financial stslomenls have been prepared on a going concern basis as the trustees believe that no
material uncertainties exist. The trustees have considered the level of funds held and the expected Sevel of
income and expenditure for a period of 12 months from the date of authorising these financial statements. The
budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue
as a going concern.
dl Income recognition
All incoming resources are inclLtded in the Statement of Financial Activities ISOFAI once the charity has
entillemenl lo the income. il is probable that the inwme wll be received and the amount of in¢ome receivable
can be measured reliably.
el Expendlturo racognition
All expenditure is accounted for on an accruals basis and has been Classified under headings that aggregate
all c0515 related lo the category. Expenditure is recognised where there is a legal or constructive obligation to
make payments to third parties, il is probable that the settiement will be reqUI￿d and the arnount of the
obligation can be measured reliably. It is calegorised under the following headings..
Support costs are those costs incurred directly in support of expenditure on the objects of the charity.
Governance costs are those Incurred in connection with the administration of the Charity and compliance wth
conslilulional and statutory reqUiren￿nIs.
Page 8

Langdale Trust
Notes to the financial statements
for the year ended 30 November 2025 Icontinuedl
1. Accounting polici•s {continued}
•) Expenditure r•¢ogniti¢n Icontinu*dl
Grants payable are charged in the year when the offer is made except in those cases where the offer is
conditional. such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants
offered subject lo conditions which have not been met at the year end are noted a$ a ￿mmitment, bul not
a¢crued as expenditure.
All expendllure Is Incluslve of Irrecoverable VAT.
Invostm•nts
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost
and subsequently measured at fair value al the balance sheet dale, unless fair value cannot be measured
reliably in which case it is measured at cost less impaiment. Investment gains and losses. whether realised
or unreali5ed, are combined and shown in the heading 'Nel IIos5es}Igains on Inveslmenls, in the Statement of
Financtal Acts'vities.
gi Investment property
Investment property is ¢arried al fair value determined annually by the trustees and derived from the current
market rents and investment property yields for comparable real estste. adjusted if necessary for any
difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fai
value are recognised in the Slalemenl of Financial Activities.
h) Interest recelvable
Interest on funds held on dep0311 is included when receivable and the amount can be measured reliably by the
charity. This is nomally upon nolifi¢alion of the Inte￿$1 paid or payable by the bank.
il Oebtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued al the amount prepaid net of any trade discounts due.
J) Cash at bank and In hand
Cash al bank and In hand Includes Cash and short term highly Ilquid Investments with a short maturity of three
months or less from the date of acquisilion or opening of the deposit or similar account.
kl Llabllitie$
Liabilities are re¢ognised when there 15 an obligation al the balance sheet date as a result of a past event, it is
probable that a transfer of economic benefit wll be required in settlement, and the amount of the Settlement
can be estimated reliably. Liabilities are recognised al the amount that the charity anticipates it wll pay to
settle the debt or the amount it has received as advanced payments for the goods Qr serwces il musl provide.
Provision5 are measured al the best estimate of the amoun15 required lo settle the obligation.
Page 9

Langdale Trust
Notes to the financial statements
for the year ended 30 NOVem￿r 2025 l¢ontinuedl
1. Accounting policies Icontinuedl
11 Flnanclal Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised al Iransacb'on value and subsequently
measured at their settlement value.
ml Fund accounting
General funds are unre5tricled bJnds which are available for use al the discretion of the trustees in furtherance
of Ihe general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been sel aside by the tDJslees for particular
purpose$. The aim and use of each designated fund is set out in the notes lo the financial statements.
The Endowment Fund is an expendable endowment. Income generated is to be used in furtherance of the
charitsble objectives. The fund is available to spend at the discretion of the trustees.
n) Crltlcal a¢¢ountlng ¢stimate5 and areas of judgement
Estirnates and judgements are continually evaluated and are b85ed on historical experience and other factors.
including expe¢tslions of future events that are believed to be re3$0n8ble under the circumstances.
The resulting accounting assumption3 will. by definition, seldom equal the ielaled actual results The
estimates and assumptions that have a significant risk of causing a material adjustment to the carrying
amounts of assets and liabilitie5 within the next financial year are the valuation of investment property.
Page 10

Langdale Trust
Notes to the financial statements
for the year ended 30 November 2025 (contlnued}
2. Investment income
Unrestricted Endowment
funds
funds
Totsl
2025
Totsl
2024
Income from listed investments
147,962
147,962
147,962
147,962
195,225
195,225
2024 total
195,225
195.225
3. Grants pay•ble to institutions
Total
2025
Total
2024
In$titution$ .
Age UK Group
Air Ambulance (Great Wesleml
Barnados
Birmingham Royal Ballet
Birmingham Settlement
Bristol Oiugs Project
British Heart Foundation
Burnblebee Conservation Trust
Clean Rivers Trust
Combat Stress
Crohns And Colitis UK
Deafblind UK
Dementia UK
Dodlord Children's Holiday Farm
Dogs For Autism
Earth Watch
Ecological Continuity Trust
Food Redistribution Walès
Future Trees Trust
Galapagos ConseNallon Twsl
Hearing Dogs
lionbridge Gorgè Museum Trust Ltd
Maiiè Curie Cancer Cure
Maiine Conservation Trust
Martin House Hospice
Mer¢y Ships
National Trust
New Bridge
People's Trust For Endangered Speaes
Places2Be
Prisoners Abroad
4,OCX)
S,OCX)
4.(YJO
5,(X)O
2.000
4,000
3,000
4,000
3,000
3,000
5.000
4.000
4,000
4,0(Xl
2,000
3,000
4,000
4,000
5.CM)O
5,LX)O
2,000
5,000
5,000
1,000
a,0￿)
2,000
3,000
1.000
4.000
3.000
2.000
4,000
4,000
4,OCM)
2,000
4.(X)O
6.000
4.¢XIO
4.000
5,000
4,000
Carried forward
103.000
83.￿0
Page11

Langdale Trust
Notes to the financial statements
for the year ended 30 November 2025 (continued)
3. Grants payable to institutions Icontinuedl
Totsl
2025
Totsl
2024
Brought forward
103,OCKI
83.000
Rainforest Foundation
Re-cyde
Relate (Avon)
RNIB
Royal Airforcè Bénevolent
SASBAH
Sofa Project
St George's Youth dub
Stroke Asso¢i8lion
Survival Inlemalional
Surfers Against Sewage
Tall Ships Youth Trust
The Brrtish Horse Society
The Colour Vvoiks Foundation
Thè Corryrneela Community
The Heart Of England Forest
The House on the Corner
The Respite Association
Wildlife Trusl Gwent
Wind50r Hill Refuge
YES Outdoors
YMCA (Centrall
Yorkshire Dales Millenium Trust
Young Lives Vs Cancer
Total
4.OCKJ
4,1X)O
4.1X)O
3,000
4.000
4,000
4,000
4,000
4,000
4,000
4,0￿)
5,OCiI
4.CLIO
5.000
5.000
4,000
4.000
4,000
5,000
2,000
4.1X)O
s.IxJo
4.CK)O
4,000
3,000
1,000
3,000
4,000
5,000
5,000
4,000
5.000
4.000
200,000
4.000
140,000
Total number of grants
41
4. Analysi¥ of support costs
Unrestrlctsd Endowment
funds
funds
Total
2025
Total
2024
Independent examination fee
Legal and professional fee
Sundry expenses
2,370
2,370
9.540
708
12,618
1,950
9,540
554
12.044
12.618
2024 tol81
12,044
12,044
Page 12

Langdale Trust
Note$ to the financial staternents
for the year ended 30 November 2025 Icontlnuedl
5. Trustees remun•ration
During the year, no Ifustees received r&muneration12024.' £nill or bènefrts in kind12024.' £nill.
During the year, Iravel and subsistence expenses totalling £510 P024'. £5411 were iesmbursed lo four trustees.
6. Investment propety
Woodland
Valuation
At 30 November 2024 and 30 November 2025
224.403
The property was purchased al the end 012016. The tnjslees have considered the valuation and deem this
apwopriale for the current year. No formal valuation has been undertaken bul Ihis will be reviewed on an annual
basis.
7. Flxèd asset investments
Total
2025
Total
2024
Market value
Al 1 December
Additions
Di5posa15
Revaluations
AI 30 November
5.238,727
4,876,156
1.199,OS4
2,335,269
11.068,4581 11,431.1591
247,552
541.539
5,616,885
5,238,727
8. Debtors
Total
2025
Total
2024
Amounts held by investment managers
33.299
33,299
29,636
29,636
9. Cradltors: amounts falling due withln one yèar
Total
2025
Totsl
2024
Accruals
7,141
7,.141
6,720
6,720
Page13

Langdale Trust
Notes to the financial statements
for the yearended 30 November 2025 Icontlnued)
10. Analysis of fund5
Balance at
1 December
2024
Galn$.
Balance at
lossè$ •nd 30 November
transfers
202S
Incomlng
resour¢es
Resources
expended
Deslgnatèd funds
A D Wilson Memorial Fund
172,144
40,698
1120,9751
91,867
Revaluation reserve
Woodland
51,190
51.190
Total designated funds
223.334
40,698
120,975
143,057
General funds
General fund
55,680
107,264
12,818
150,326
Total unrestricted funds
279,014
147,962
133.593
293,383
Endowment funds
Expendable endowment
5,246.055
1125,004)
552,772
5,673.823
Total funds
5,525,069
147.962
258,5971
552,772
s,￿7,206
Comparativ• information in respect of the prncadlng period Is as follows .
Balance at
1 December
2023
Galn$.
Balance at
losses and 30 November
transfèrs
2024
Incomlng
resourees
Resources
expended
Dèsignated funds
A D Wilson Memorial Fund
180,821
132.300
{140,9771
172,144
Revaluation reserve
Woodland
51,190
51,190
Total designated funds
232,011
132,3CMJ
140.97
223,334
General funds
General lund
21,697
62.925
28,942
55,680
Totsl unrestricted funds
253,708
195,225
169,919
279.014
Endowment funds
Expendable endowment
4,877.454
{20,6421
389,243
5,246,055
Total funds
5,131,162
195.225
190.561
389,243
s,525,(￿9
Page 14

Langdale Trust
Notes to the financial statements
for the year ended 30 November 2025 Icontinugdl
10. Analy$l$ of funds Icontinuedl
Name offund
Descrip￿On, nature and purpos• of fuftd
AD Wllson Mèmorial Fund
This is held in memory of a former chaimian of the trust as a reserve for on-
off larger projects which may arise in subsequènt years. A woodland was
purchased in the year endin9 30 Novernber 2016 and is shown as an
investment property. There is also consideration of a bursarylsponsorship
for training in forestryAYoodland management being explored.
Expendabl8 èndowmentfund
This fund is the capital erxlowment arisin9 from the ¢realion of the trust
which is held lo generate income for use in furthering thè ¢harilable objects.
The fund is available lo spend at the dis¢relion of the trustees.
11. Analysis of nèt ass•ts between funds
Fund balan￿S at 30 November
2025 are represented by..
Unr•stri¢tsd Endowment
funds
funds
Total
funds
Fixed asset investments
Investment property
Current assets
Current liabilities
Total nèt assets
5.616.885
5.616,885
224,403
133.059
7,141
5,967.206
224.403
76.121
{7,141
293.383
56.938
5,673.823
Comparative inf0M￿li0n in respect
of the preceding period is as
follows .
Unrestrleted Endowment
funds
funds
Total
funds
Fixed asset investments
Investmènt property
Current assets
Current liabilities
Total net a55ets
5,238.727
5.238,727
224,403
68,659
6,720
5,525.069
224.403
61,331
6,720
279,014
7,328
5.246,055
12. Related party transactSons
Ms Jaime Hobday {secretaryl is a partner of Veale
Wasbrough Vvzards LLP
202S
2024
Secretarial service5 recharged by related party dunng the year
9,270
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