Charity registration number: 02184411
WANTAGE TOWN LANDS (THOMAS FEWSON EAGLES) TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
Wantage Town Lands (Thomas Fewson Eagles) Contents
||Page|
|---|---|
|Trustees' Report|1—3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Statement of Financial Position|6|
|Notes to the Financial Statements|7—11|
|The following pages do not form part of the statutory accounts:||
|Detailed Statement of Financial Activities|12|
Wantage Town Lands (Thomas Fewson Eagles) Trustees' Report For The Year Ended 31 December 2025
The trustees present their report and the financial statements for the year ended 31 December 2025.
## Objectives and Activities
## Aims and Objectives
The charity's objective is the provision of Almshouses for the people of Wantage. The charity does not hold any restricted or endowment funds.
The charity aims to help people with little capital, and restricted income, by providing low cost accommodation in the town of Wantage.
The trustees invite applications from appropriate people, and maintain a waiting list, so that, as vacancies become available, persons on said list have the opportunity to avail of almshouse residency.
## Public Benefit
During the year, Wantage Town Lands (Thomas Fewson Eagles) has carried out its public benefit duty and its duty with regard to the objectives of the charity. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
## Achievements and Performance
## Main Achievements
The 10 properties are checked biannually for legionnaires disease. The properties were professionally checked in November 2023 and all were declared free of this problem. The next legionnaires check is due in 2025. We continued with our regular program of redecoration and general maintenance.
To continue to administer the affairs of the almshouses with probity and fairness, and to continue to maintain all the properties in good and safe order.
During this financial year the charity made a surplus of £46,024 (2024 £56,468).
Current Assets stood at £343,830 (2024 £307,507). Total assets less current liabilities stood at £676,005 (2024 £629,981).
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to not less than twelve months’ expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.
Freely availably reserves total £343,056 for the year ended 2025 which exceed the reserves policy by approximately £311,954. Trustees’ plans for reserves exceeding the reserves policy are that, given the age of the premises, there may come a time when a major programme of refurbishment will be necessary and the money will be available for such purposes.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Page 1
Wantage Town Lands (Thomas Fewson Eagles) Trustees' Report (continued) For The Year Ended 31 December 2025
## Reference and Administrative Details
## Trustees
Mr S Trinder - Chairman Mr R Sharp Mr I Hermon Mr W Roycroft Mr T Gashe Mr I Mead Mr A Howell Mr M Cooper Mr M Haddrell Miss C Haddrell Mr T Randall Mr I Smith
Charity Number
02184411
## Principal Address
133 Stockham Park Wantage Oxfordshire OX12 9HJ
## Independent Examiner
Anna Chapman FCA Chapman Worth Limited Chartered Accountants 2 The Old Estate Yard High Street East Hendred Oxfordshire OX12 8JY
Page 2
Wantage Town Lands (Thomas Fewson Eagles) Trustees' Report (continued) For The Year Ended 31 December 2025
The trustees' report was approved by the board of trustees and signed on its behalf by:
Mr S Trinder
Trustee Date
Page 3
Wants9e Town Lands (Thomas Fewson Eagles)
Independent Examln•r's Report to th• Trustees of Wantage Town Lands (Thtsmas Fewson
Ea9le5)
For Th• Year Ended 31 Dec•mber 2025
l port to the trustees on my examtnatlon of the accounts of Wantage Town Lands (Thomas Fewson
Eagles) (the Trust) for the year endefl 31 December 2025.
Reiponslbllltles and Bas1• of Report
As the charlty trustees of the Trust you are responsible for the preparation of the accounts In
accordance wlth the requirements of the Charltles Act 2011 rthe Act-l.
I report In respect of my examlnatlon of the Trust's accounts carfed out under 5ectlon 145 of the
2011 Act and Sn earrylng out my examination, I have followed the applicable Dlrectlons glven by the
Charlty Commls51on unfler sectlon 145151{b) of the Act.
Ind•p•nd¢nt ExamIn• St•t•m•nt
I have cornpleted my examlnatlon. I conflmi that no Mate•1 mattets have come to my attentltsn In
connectltsn wlth the examlnatyon 9lvlng me cause to believe that In any material respert..
l. accountlng records were not kept In respert of the Tnjst a5 requlred by se¢tlon 130 of the Art;
or
2. the b¢counts do not atrord wlth those records,. or
3, the accounts do not comply wlth the applicable requirements concerning the fom) and
ontents of accounts set out In the Charities (Accounts and Reports) Regulations 2008 other
than any requlrement that the ¥counts give a 'true and falr vlew, whlch Is not a matter
consldered as part of an independent examinatyon.
I have no concerns and have come across no other matters In connectlon with the examlnatlon to
whlch attentlon should be drawn in thls report In order to enable a proper understanding of the
accounts to be reoched.
Anna Chapman FCA
Date
Chapman Worth LIMed
Chartered Accountant5
2 The Old Estate Yard
Ilgh Street
East Hendred
Oxfordshlre
OX12 8JY
Page 4
## Wantage Town Lands (Thomas Fewson Eagles) Statement of Financial Activities For The Year Ended 31 December 2025
**----- Start of picture text -----**
2025 2024
Unrestricted Unrestricted
funds funds
Notes £ £
INCOME AND ENDOWMENTS FROM:
Charitable activities:
Charitable activities 50,800 47,866
Investments 3 16,589 18,338
67,389 66,204
EXPENDITURE ON:
Charitable activities: 4
Charitable activities (31,102) (22,538)
NET INCOME BEFORE INVESTMENT GAINS 36,287 43,666
Net gains on investments 9,737 12,802
NET INCOME 46,024 56,468
NET MOVEMENT IN FUNDS 46,024 56,468
RECONCILIATION OF FUNDS:
Total funds brought forward 629,981 573,513
TOTAL FUNDS CARRIED FORWARD 11 676,005 629,981
**----- End of picture text -----**
The notes on pages 7 to 11 form part of these financial statements.
Page 5
Wantage Town Lands (Thomas Fewson Eagles) Statement of Financial Position As At 31 December 2025
**----- Start of picture text -----**
2025 2024
Unrestricted Total
funds funds
Notes £ £
FIXED ASSETS
Tangible Assets 7 20,568 20,568
Investments 8 312,883 303,146
333,451 323,714
CURRENT ASSETS
Debtors 9 774 750
Cash at bank and in hand 343,056 306,757
343,830 307,507
Creditors: Amounts Falling Due Within One Year 10 (1,276) (1,240 )
NET CURRENT ASSETS (LIABILITIES) 342,554 306,267
TOTAL ASSETS LESS CURRENT LIABILITIES 676,005 629,981
NET ASSETS 676,005 629,981
FUNDS OF THE CHARITY
Unrestricted Funds 676,005 629,981
TOTAL FUNDS 11 676,005 629,981
**----- End of picture text -----**
On behalf of the board
Mr S Trinder Trustee Date
The notes on pages 7 to 11 form part of these financial statements.
Page 6
Wantage Town Lands (Thomas Fewson Eagles) Notes to the Financial Statements For The Year Ended 31 December 2025
## 1. General Information
Wantage Town Lands (Thomas Fewson Eagles) is an unincorporated charity registered with the Charity Commission, registered charity number 02184411. The principal address is 133 Stockham Park, Wantage, Oxfordshire, OX12 9HJ.
## 2. Accounting Policies
## 2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "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 (FRS 102) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011.
The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## 2.2. Incoming Resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## 2.3. Resources Expended
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Charitable activities include expenditure associated with meeting the charitable objectives. ...CONTINUED
Page 7
Wantage Town Lands (Thomas Fewson Eagles) Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
## 2.3. Resources Expended - continued
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities.
Governance cost include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.
## 2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold
Not depreciated
## 2.5. Investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred
## 2.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
## 3. Investment Income
|Interest from investments
Dividends from investments|2025
Unrestricted
funds
£
12,614
3,975
16,589|2024
Unrestricted
funds
£
13,290
5,048
18,338|
|---|---|---|
Page 8
Wantage Town Lands (Thomas Fewson Eagles) Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
## 4. Analysis of Expenditure
|Charitable activities
Charitable activities
5.
Support Costs
General administration
Governance costs
General administration
Governance costs|Activities
undertaken
directly
£
29,806
Activities
undertaken
directly
£
19,396|Support
costs
(see note 5
)
£
1,296
Support
costs
(see note 5
)
£
3,142|2025
Total
£
31,102
2024
Total
£
22,538
2025
Charitable
activities
£
54
1,242
1,296
2024
Charitable
activities
£
182
2,960
3,142|
|---|---|---|---|
## 6. Average Number of Employees
Average number of employees during the year was: NIL (2024: NIL)
Page 9
Wantage Town Lands (Thomas Fewson Eagles) Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
## 7. Tangible Assets
|Cost
As at 1 January 2025
As at 31 December 2025
Depreciation
As at 1 January 2025
As at 31 December 2025
Net Book Value
As at 31 December 2025
As at 1 January 2025|Land &
Property
Freehold
£
109,391
109,391
88,823
88,823
20,568
20,568|
|---|---|
The trustees deem the value of the properties for insurance purposes of £1,873,979 (2024 £1,873,979) is appropriate to the market value.
## 8. Investments
|Cost or Valuation
As at 1 January 2025
Revaluations
As at 31 December 2025
Provision
As at 1 January 2025
As at 31 December 2025
Net Book Value
As at 31 December 2025
As at 1 January 2025
.
Debtors
2025
£
Due within one year
Other debtors
774|Listed
£
303,146
9,737
312,883
-
-
312,883
303,146
2024
£
750|
|---|---|
## 9. Debtors
Page 10
## Wantage Town Lands (Thomas Fewson Eagles) Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
## 10. Creditors: Amounts Falling Due Within One Year
|Amounts owed to participating interests
Accruals and deferred income|2025
£
106
1,170
1,276|2024
£
106
1,134
1,240|
|---|---|---|
## 11. Movement in Funds
|Unrestricted funds
General:
General unrestricted fund
Total funds
Unrestricted funds
General:
General unrestricted fund
Total funds|As at 1
January
2025
£
629,981
629,981
As at 1
January
2024
£
573,513
573,513|Income
£
67,389
67,389
Income
£
66,204
66,204|Expenditure
£
(21,365)
(21,365)
Expenditure
£
(9,736)
(9,736)|As at 31
December
2025
£
676,005
676,005
As at 31
December
2024
£
629,981
629,981|
|---|---|---|---|---|
## 12. Transactions with Trustees
None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.
No trustee expenses have been incurred.
## 13. Related Party Disclosures
As at the year ended 31 December 2025, Wantage Town Lands (Thomas Fewson Eagles) owed £106 to Wantage Town Lands (Mill Street).
Page 11
Wantage Town Lands (Thomas Fewson Eagles) Detailed Statement of Financial Activities For The Year Ended 31 December 2025
**----- Start of picture text -----**
2025 2024
Total Total
funds funds
£ £
INCOME AND ENDOWMENTS FROM:
Charitable Activities:
Charitable activities
Income from charitable activities 50,800 47,866
50,800 47,866
Investments
Dividends from shares in participating interests 3,975 5,048
Interest from other fixed asset investments - listed 12,614 13,290
16,589 18,338
67,389 66,204
EXPENDITURE ON:
Charitable Activities:
Charitable activities
Rent collection, property repairs and maintenance charges (29,806) (19,396)
Computer and IT consumables (36) (30)
Printing (5) (55)
-
Professional subscriptions (72)
Sundry expenses (13) (25)
Professional fees (1,242) (2,960)
(31,102) (22,538)
(31,102) (22,538)
NET INCOME BEFORE INVESTMENT GAINS 36,287 43,666
Net gains on investments
Fair value surplus on revaluation of investments 9,737 12,802
9,737 12,802
NET INCOME 46,024 56,468
**----- End of picture text -----**
Page 12
Charity registration number: 00218441
WANTAGE TOWN LANDS (MILL STREET) TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
Chapman Worth Limited
Wantage Town Lands (Mill Street) Contents
||Page|
|---|---|
|Trustees' Report|1—3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Statement of Financial Position|6|
|Notes to the Financial Statements|7—11|
|The following pages do not form part of the statutory accounts:||
|Detailed Statement of Financial Activities|12|
Wantage Town Lands (Mill Street) Trustees' Report For The Year Ended 31 December 2025
The trustees present their report and the financial statements for the year ended 31 December 2025.
## Objectives and Activities
## Aims and Objectives
The charity aims to help people with little capital, and restricted income, by providing low cost accommodation in the town of Wantage.
The trustees invite applications from appropriate people, and maintain a waiting list, so that, as vacancies become available, persons on said list have the opportunity to avail of almshouse residency.
During the year, Wantage Town Lands (Mill Street) has carried out its public benefit duty and its duty with regard to the objectives of the charity. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## Public Benefit
During the year, Wantage Town Lands (Mill street) has carried out its public benefit duty and its duty with regard to the objectives of the charity. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
## Achievements and Performance
## Main Achievements
The 8 properties are checked biannually for legionnaires disease. The properties were professionally checked in November 2023 and all were declared free of this problem. The next legionnaires check is due in 2025.
We continued with our regular program of redecoration and general maintenance.To continue to administer the affairs of the almshouses with probity and fairness, and to continue to maintain all the properties in good and safe order.
## Financial Review
## Financial Position
During this financial year the charity made a surplus of £34,873 (2024 £34,594).
Current Assets stood at £328,556 (2024 £309,090 ). Total assets less current liabilities stood at £600,169 (2024 £565,296).
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to not less than twelve months’ expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.
...CONTINUED
Page 1
Wantage Town Lands (Mill Street) Trustees' Report (continued) For The Year Ended 31 December 2025
## Financial Position - continued
Freely available reserves total £327,830 for the year ended 2025 which exceed the reserves policy by approximately £285,127. Trustees’ plans for reserves exceeding the reserves policy are that they recognise, given the age of the premises, there may come a time when a major programme of refurbishment will be necessary and the money will be available for such purposes.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## Reference and Administrative Details
## Trustees
Mr S Trinder Mr I Hermon Mr W Roycroft Mr T Gashe Mr I Mead Mr A Howell Mr M Cooper Mr M Haddrell Miss C Haddrell Mr T Randall Mr I Smith Mr R Sharp
## Charity Number
00218441
## Principal Address
Mrs C L Clubb 133 Stockham Park Wantage Oxfordshire OX12 9HJ
## Independent Examiner
Anna Chapman FCA Chapman Worth Limited Chartered Accountants 2 The Old Estate Yard High Street East Hendred Oxfordshire OX12 8JY
Page 2
Wantage Town Lands (Mill Street) Trustees' Report (continued) For The Year Ended 31 December 2025
The trustees' report was approved by the board of trustees and signed on its behalf by:
Mr S Trinder
Trustee te 26 Mar 2026
Page 3
Wantage Town LaTrd$ (Mill Street)
Ind•pend•nt Examlner's Report to the Trustees of Wantage Town Lands {Mlll Street)
For The Year Ended 31 D•(embw 2025
I report to the trustee5 on my examination of the accounts of Wantage Town Lands IMIII Street) (the
Trust) for the year ended 31 December 2025.
R•spoTrslbllltl•s and B•*ls ol Report
As the charlty trvstee% of the Trust you are responslble ft*r the prepèTdllon of the accounts In
accordance wtth the requlrèments of the Charities Act 2011 fthe Art?.
I report In respect of my examination of the Trvst s accounts carried out under settion 145 of the
2011 Att and in carrylng Out my examination, I have followed the appllcable Dirertions 9lven by the
Charity Commlsslon under sertion 14515){b) ol the Att.
Ind•p¢nd•nt Ex•mln•r's St•t•m•nt
I have tornpleted my examlnation. I confirrn that no material matters have come to my attentlon In
connectlon wlth the examSnatlon 9lvlng mè cause to believe that in any material respect:
l. atttsuntlng record5 were not kept In respect of the Trust as requlred by sertlon 130 of the Art,.
or
2. the accounts do not accord wlth those records.. or
3. the accounts do not comply wlth the applicable requlrements conc•rnlng the fom) and
contents of èccounts set out In the Chanties {Accounts and Reports) Re9¢Jlations 2008 other
than any requlrement that the accounts glve a 'true and falr vlew, which Is not a matter
consldeied 45 part of an In(tependent txamlnatlon.
T hav* no concgrns and have rne •cross riu other matters In connettion wlth the examlnatlon to
whlch attentlon should be drawn In thls report order to enable a proper understandlng of the
accounts to be reached.
Anna Chapman FCA
Date
Chapman Worth Limited
Chartered Accountants
2 The Old Estate Yard
Igh Street
East Hendred
Oxford5hire
OX12 8JY
44126
Pdge 4
## Wantage Town Lands (Mill Street) Statement of Financial Activities For The Year Ended 31 December 2025
**----- Start of picture text -----**
2025 2024
Unrestricted Unrestricted
funds funds
Notes £ £
INCOME AND ENDOWMENTS FROM:
Charitable activities:
Charitable activities 41,800 40,933
Investments 3 20,341 19,981
62,141 60,914
EXPENDITURE ON:
Charitable activities: 4
Charitable activities (42,703) (30,752)
NET INCOME BEFORE INVESTMENT GAINS 19,438 30,162
Net gains on investments 15,435 4,432
NET INCOME 34,873 34,594
NET MOVEMENT IN FUNDS 34,873 34,594
RECONCILIATION OF FUNDS:
Total funds brought forward 565,296 530,702
TOTAL FUNDS CARRIED FORWARD 11 600,169 565,296
**----- End of picture text -----**
The notes on pages 7 to 11 form part of these financial statements.
Page 5
Wantage Town Lands (Mill Street) Statement of Financial Position As At 31 December 2025
**----- Start of picture text -----**
2025 2024
Unrestricted Total
funds funds
Notes £ £
FIXED ASSETS
Tangible Assets 7 120,000 120,000
Investments 8 152,524 137,088
272,524 257,088
CURRENT ASSETS
Debtors 9 726 707
Cash at bank and in hand 327,830 308,383
328,556 309,090
Creditors: Amounts Falling Due Within One Year 10 (911) (882 )
NET CURRENT ASSETS (LIABILITIES) 327,645 308,208
TOTAL ASSETS LESS CURRENT LIABILITIES 600,169 565,296
NET ASSETS 600,169 565,296
FUNDS OF THE CHARITY
Unrestricted Funds 600,169 565,296
TOTAL FUNDS 11 600,169 565,296
**----- End of picture text -----**
## On behalf of the board
## Mr S Trinder
## Trustee
te 26 Mar 2026
The notes on pages 7 to 11 form part of these financial statements.
Page 6
Wantage Town Lands (Mill Street) Notes to the Financial Statements For The Year Ended 31 December 2025
## 1. General Information
Wantage Town Lands (Mill Street) is an unincorporated charity registered with the Charity Commission, registered charity number 00218441. The principal address is Mrs C L Clubb, 133 Stockham Park, Wantage, Oxfordshire, OX12 9HJ.
## 2. Accounting Policies
## 2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "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 (FRS 102) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011.
The charity is a Public Benefit Entity as defined by FRS 102.
## 2.2. Incoming Resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## 2.3. Resources Expended
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Charitable activities include expenditure associated with meeting the charitable objectives.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities.
...CONTINUED
Page 7
Wantage Town Lands (Mill Street) Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
## 2.3. Resources Expended - continued
Governance cost include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.
## 2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold
Nil
## 2.5. Investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred
## 2.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
## 3. Investment Income
|2025
2024
Unrestricted Unrestricted
funds
funds
£
£
Interest from investments
12,734
13,983
Dividends from investments
7,607
5,998|
|---|
|20,341
19,981|
|.
Analysis of Expenditure
2025
Activities
undertaken
directly
Support
costs
(see note 5
)
Total
£
£
£
Charitable activities
39,301
3,402
42,703|
## 4. Analysis of Expenditure
Page 8
Wantage Town Lands (Mill Street) Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
|Charitable activities
.
Support Costs
General administration
Governance costs
General administration
Governance costs|Activities
undertaken
directly
£
26,773|Support
costs
(see note 5
)
£
3,979|2024
Total
£
30,752
2025
Charitable
activities
£
818
2,584
3,402
2024
Charitable
activities
£
630
3,349
3,979|
|---|---|---|---|
## 5. Support Costs
## 6. Average Number of Employees
Average number of employees during the year was: NIL (2024: NIL)
## 7. Tangible Assets
|Cost
As at 1 January 2025
As at 31 December 2025
Net Book Value
As at 31 December 2025
As at 1 January 2025|Land &
Property
Freehold
£
120,000
120,000
120,000
120,000|
|---|---|
Page 9
Wantage Town Lands (Mill Street) Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
The trustees deem the value of the properties for insurance purposes of £1,229,972 (2024 £1,229,972) is appropriate to the market value.
8. Investments
|Cost or Valuation
As at 1 January 2025
Revaluations
As at 31 December 2025
Provision
As at 1 January 2025
As at 31 December 2025
Net Book Value
As at 31 December 2025
As at 1 January 2025
9.
Debtors
Due within one year
Amounts owed by participating interests
Other debtors
10.
Creditors: Amounts Falling Due Within One Year
Accruals and deferred income
11.
Movement in Funds
As at 1
January
2025
£
Unrestricted funds
General:
General unrestricted fund
565,296
Total funds
565,296|Income
£
62,141
62,141|2025
£
106
620
726
2025
£
911
Expenditure
£
(27,268)
(27,268)|Listed
£
137,088
15,436
152,524
-
-
152,524
137,088
2024
£
106
601
707
2024
£
882
As at 31
December
2025
£
600,169
600,169|
|---|---|---|---|
Page 10
## Wantage Town Lands (Mill Street) Notes to the Financial Statements (continued) For The Year Ended 31 December 2025
**----- Start of picture text -----**
As at 1 As at 31
January December
2024 Income Expenditure 2024
£ £ £ £
Unrestricted funds
General:
General unrestricted fund 530,702 60,914 (26,320) 565,296
Total funds 530,702 60,914 (26,320) 565,296
**----- End of picture text -----**
## 12. Transactions with Trustees
None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.
No trustee expenses have been incurred.
## 13. Related Party Disclosures
As at the year ended 31 December 2025, £106 was owed by Wantage Town Lands (Thomas Fewson Eagles).
Page 11
Wantage Town Lands (Mill Street) Detailed Statement of Financial Activities For The Year Ended 31 December 2025
**----- Start of picture text -----**
2025 2024
Total Total
funds funds
£ £
INCOME AND ENDOWMENTS FROM:
Charitable Activities:
Charitable activities
Income from charitable activities 41,800 40,933
41,800 40,933
Investments
Interest from other fixed asset investments - listed 12,734 13,983
Dividends from other current asset investments - listed 7,607 5,998
20,341 19,981
62,141 60,914
EXPENDITURE ON:
Charitable Activities:
Charitable activities
Rent collection, property repairs and maintenance charges (39,301) (26,773)
Computer and IT consumables (36) (30)
Printing, postage and stationery (86) (67)
Professional subscriptions (683) (510)
Sundry expenses (13) (23)
Clerk's fee (1,551) (2,389)
Accountancy fees (910) (882)
Bank fees (123) (78)
(42,703) (30,752)
(42,703) (30,752)
NET INCOME BEFORE INVESTMENT GAINS 19,438 30,162
Net gains on investments
Surplus on revaluation of investments 15,435 4,432
15,435 4,432
NET INCOME 34,873 34,594
**----- End of picture text -----**
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