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Trustees: 

## Secretary: 

A J Garlick 

J R Hardy J G Heaton DE Foulkes Mrs H C Jenkins A Regan 

H C Jenkins 100 Woodsmoor Lane Woodsmoor Stockport SK2 2BW 

Tel: 0161 483 4679 Mob: 07711 756535 

## REPORT FOR THE YEAR ENDED 2025 

The Reports and Financial Statements were presented. 

Total Incoming Resources for the period were £30,566 whilst expenditure of £27,660 resulted in a profit of £2,906 (2024 profit of £7,539). 

The only grants made during the year were for the insurance for St. George's Church and the School and to the PCC a grant towards the cost of a new roof over the bells. 

Investments have been kept under review and the broker's advice acted upon as and when necessary. Market value revealed an increase of £17,402 (2024 decrease of £20,623) from the previous year, leaving the Trust's net asset value at £792,546. 


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A J Garlick, Chairman<br>**----- End of picture text -----**<br>



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H C Jenkins, Secretary<br>**----- End of picture text -----**<br>


**r** rr teAE, Established 1911 Charity Registration Number 223212 

## GEORGE FEARN TRUST 

## REPORT AND FINANCIAL STATEMENTS 

FOR THE YEAR ENDED 5TH APRIL 2025 

Registered Charity No: 223212 

## GEORGE FEARN TRUST 

## REPORT AND FINANCIAL STATEMENTS 

FOR THE YEAR ENDED 5TH APRIL 2025 

## CONTENTS 

||Page|
|---|---|
|Synopsis|2|
|Independent Examiner's Report on the Accounts|3|
|Income and Expenditure Account|4|
|Balance Sheet|5|
|NotestotheFinancialStatements|6&7|



PAGE 1 

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## GEORGE FEARN TRUST 

## SYNOPSIS 

Charity Number: 223212 

## Terms of Trust 

Established 30 May 1911 under the Will of George Fearn dated 6 April 1907. The purposes of the trust was to maintain the bells of St George's Church, Stockport, maintenance of the church fabric, schools, parish rooms and help to the poor and sick of the surrounding area. 


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||||||
|---|---|---|---|---|
|Trustees:|A|J|Garlick|,Chairman|
|J|G|Heaton|
|JR|Hardy|
|D|Foulkes|
|Mrs|H|C|Jenkins|
|AC|Regan|
|Bankers:|Barclays|Bank|plc|
|1|Bridge|Street|
|Stockport|
|SK1|6XU|
|Reporting|Accountant:|Chadwicks|
|Chartered|Accountants|
|Capital House|
|272|Manchester Road|
|Droylesden|
|Manchester|
|M43|6PW|

**----- End of picture text -----**<br>


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## GEORGE FEARN TRUST 

## Independent Examiner's Report on the Accounts To the trustees of the George Fearn Trust 

| report to the trustees on my examination of the accounts of the George Fearn Trust (The Trust) for the year ended 5 April 2025. 

## Responsibilities and basis of report 

As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2017 ("the Act"). 

| report in respect of my examination of the trusts's accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## Independent examiner's report 

| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material aspect: 

1. accounting records were not kept as required by section 130 of the Act; or 

2. the accounts do not accord with these records; or 3. the accounts do not comply with the applicable requirements concerning the form and’ contents of accounts set out in the Charities (Accounts and reports) Regulations 2008 other than any requirement that the accounts give a "tue and fair view" which is not a matter considered as part of an independent examination. 

| 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 to enable a proper understanding of the accounts to be reached. 

## Signed:....c..cenninetiowe 

Claire L Taylor BA(Hons) FCCA Chadwicks Capital House 272 Manchester Road Droylesden Manchester M43 6PW 

Dates... ..eesecececececeetene 

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f OD DEDEDE 

ee 

## GEORGE FEARN TRUST 

## Statement of Financial Activites for the year ended 5 April 2025 

||||Unrestricted Funds||||
|---|---|---|---|---|---|---|
|||2025|||2024||
|||£|£|£||£|
|Incoming Resouces<br>InvestmentIncome (seepages 8,|9& 10)||30,458|||29,176|
|interest|||||||
||||108|||70|
|Bank deposit|||||||
||||0|||0|
|Other income|||||||
|TotalIncomingResources|||30,566|||29,246|
|Resources Expended|||||||
|Direct Charitable<br>StGeorge'sParochialChurch Council<br>StGeorge'sSchools||22,000<br>4,000|-26,000|20,000||-20,000|
|Managementand Administration<br>Other<br>Stockbroker'sfee<br>Independentexamination fee<br>Accountants fee||300<br>160<br>570<br>630|-1,660|300<br>160<br>567<br>680||~1,707|
|TotalResourcesExpended|||-27,660|||-21,707|
|Net incoming (outgoing)|||||||
|resources before other<br>recognisedgains|||2,906|||7,539|
|Other recognised gains/{losses)|||||||
|Gains and (losses) on revaluation|offixed||||||
|assets for the charity's own use.<br>forcurrentyear<br>Gains and (losses)on investment|assets||20,834<br>-6,338|||~26,838<br>~1,870|
|(see pages 8, 9 & 10)|||||||
||Netmovementinfunds||17,402|||-21,169|
|TotalFundsbroughtforward<br>TotalFundscarriedforward|||775,144<br>792,546|||796,313<br>775,144|
|||PAGE4|||||



## GEORGE FEARN TRUST 

## Balance Sheet as at 5 April 2025 

|||2025||2024||
|---|---|---|---|---|---|
||£||£|£|£|
|Fixed Assets||||||
|Investments, unrestricted (seepages 8, 9 & 10)|||755,279||727,718|
|Current Assets||||||
|Arnold Stansby & Co|36,185|||39,683||
|Cash at Bank: Deposit account|43|||43||
|Cash at Bank: Current account|2,256|||8,917||
||38,484|||48,643||
|Current Liabilities||||||
|Accrued expenses|-1,217|||-1,217||
||||37,267||47,426|
||||192,546||£75,144|
|Funds ofthe charity||||||
|Unrestricted funds|||792,546||775,144|
||||792,546||775,144|
|Signed byonetrustee on||Printname|Hazel CC. SEwmeRiVs||Dateof|
|behalfofallthetrustees|||||approval|



Page 5 

3 

PAGE 6 

## GEORGE FEARN TRUST 

NOTES TO THE ACCOUNTS YEAR ENDED 5TH APRIL 2025 

## 2 Accounting Policies (Continued) 

## Grants payble without performance conditions 

These are only to be recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. 

## Assets 

## Investments 

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustee's best estimate of market value. 

## Reserves Policy 

The Trustees review the amount of reseves held by the Charity to ensure they are satisfied to meet future commitments and provide for its charitable aims. They have concluded that a reserve of £11,500 should be maintained. 

At 31 March 2025 the free reserves of the Charity were £775,279 (2024: £775,171). 

## Fixed Asset Investments 


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|||||||||
|---|---|---|---|---|---|---|---|
|3.1|Fixed|Asset|Investments|£|
|Carrying|(market)|value|at|beginning|of|year|727,718|
|Add:|additions|to|investments|at|cost|62,789|
|Less:|disposals|at|carrying|value|-56,062|
|Net|gain|on|revaluation|20,834|
|Carrying|(market)|value|at|end|of year|755,279|

**----- End of picture text -----**<br>


3.2 A breakdown of the market values of investments shown above agreeing with balance sheet is attached (see pages 8, 9 & 70) 

1 

2 

## GEORGE FEARN TRUST 

## NOTES TO THE ACCOUNTS YEAR ENDED 5TH APRIL 2025 

## Basis of Accounting 

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with: 

Accounting and Reporting by Charities - Statement of Recommended Practice (SORP 2015); and with Accounting Standards. 

## Going Concern 

The financial statements have been prepared on a going conern basis which assumes an ability to continue operating for the foreseeable future. The trustees have concluded that they are confident that the charity will continue as a going concern. With free reserves of £792,546 (2024:£775,144) including investments which can be liquidated at anytime, the charity can continue to operate at its current level of activity. 

## Accounting Policies 

## Incoming Resources 

## Recognition of incoming resources 

These are included in the Statement of Financial Activities (SoFA) when: 

the charity becomes entitled to the resources; 

the trustees are virtually certain they will receive the resources; and 

the monetary value can be measured with sufficient reliability. 

## Grants and Donations 

Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources. 

## Investment Income 

This is included in the accounts when receivable. 

## Investment Gains and Losses 

This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. 

## Expenditure and Liabilities 

## Liability Recognition 

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. 

## Governance Costs 

. 

Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. 

[ 

GEORGE FEARN TRUST INVESTMENTS AT 5TH APRIL 2025 AND INCOME THEREON 


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|||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|3|Infrastructure|Ltd|ord npy|ord shares|6,376|20,754|6,376|19,670|783|783|
|AO|World|ple|0.0025|GBP|ord shares|3,500|3,703|3,500|3,928|225|-|-|~|
|Associated|British|Foods|5|15/22p|ord|shs|650|15,691|650|12,613|585|585|
|Astra|Zeneca|$0.25|ord|shares|610|64,782|610|65,929|1,498|1,498|
|Biopharma|Credit|ple|USD|0.01|Ord|shares|12,375|8,650|12,375|8,287|970|970|
|BAe Systems|2.5p|ord shares|3,510|46,543|3,510|$3,264|1,085|1,085|
|Berkeley|Group|Sp|ord shares|258|11,920|248|8,978|662|662|
|BHP|Group|425|9,711|425|7,019|405|405|
|Coca-Cola|HMC AG|6.76CHF|Ord|shares|380|9,090|380|13,368|298|298|
|Diageo|28 101/108p|ord shares|1,380|39,323|1,380|27,766|4,094|4,094|
|Enaquest PLC|7.00%|notes 2027|3,808|3,778|3,808|3,778|343|343|
|F&C|Investment|Trust|Pic|25p|Ord|shares|375|4,566|375|3,722|
|GCP|Infrastructure|ip|ord shares|8,000|5,704|8,000|5,866|162|560|560|
|Glaxo|Smith|Kline|Gbp|0.3125|ord|shares.|680|11,081|680|9,639|755|102|653|
|Greencoat|Renewables|Pic|Gbp 0.01|ord shares|12,500|9,383|12,500|9,224|~|159|134|134|
|Greencoat|UK|Wind|Ple|‘bp|0.01|ord|shares|20,464|28,134|20,461|21,484|2,046|2,046|
|Haleon|Gop 0.01|ord shares|850|2,770|2,760|9,177|3,610|13,844|108|108|
|Heylo|Housing|Secured|Bond|pic|Gbp|100|7,800|5,963|7,800|7,421|174|174|
|HICL.|InfrastructureLtd|O.0tp|ord shares|8,438|10,548|8,438|9,096.|696|696|
|Imperial|Brands|10p|ord shares|940|16,215|940|26,555|1,442|4,442|
|Intercontinental|Hotels|20,8521303p|ord shs|209|16,457|209|45,963|261|261|
|International|Personal Finance|ple|42/12/2027|notes|12%|3,500|3,706|5,000|5,561|8,500|9,546|4,020|4,020|
|International Public Partnership|Op|ord shares|8,058|10,085|8,068|8,843|666|666|
|‘|PAGE|8|
|Jackson|Fiancial|Inc Com|USD|0.01|clA|22|1,159|22|1,202|42|42|
|JP|Morgan American Investment|Trust|5p|ord shares|1,575|14,966|1,575|14,222|43|43|

**----- End of picture text -----**<br>


|dust Eat|Euro 0.4|ord shares|278|3,525|||278|2,830|-|695|||=|||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Lendinvest Securedincome|5.25%|notes2027|30,600|26,218|||||||30,000|29,574|1,950|4,950||
|London Stock Exchange|6.918604p|ord shares|830|77,837|||||||830|92,504|998|998||
|National Grid Transco|42,431289p|ordshares|4,137|41,745|334|2,135|||||1,468|15,179|677|677||
|Next|10p|ordshares|230|20,291|||||||230|25,829|324|324||
|Orchard Bond Finance|6.25%|notes2027|9,500|8,603|||||||9,500|9,809|594|594||
|Pao|3,50%|deb stock|3,920|2,718|||||||3,920|2,718|137|137||
|Prudential|Sp|ofdshares|300|6,458|||||||900|6,721|149|149||
|RCBBonds Pic|5%|27.03.32|||10,700|9,840|||||10,700|40,333|535|535||
|RemyCointreau|Eur 1.60|ordshs|100|7,596|||100|4,002|~|3,594|||125|125||
|Rentokil Initial|tp|ordshares|5,031|22,834|||||||§,031|16,819|457||457|
|RSA InsGrp|7.375%|CumIRR Pri|6,740|7,347|||6,740|8,223||876|-|-|165|165|435|
|Santander UK|10.375%|prefshs|6,200|9,021|||||||6,200|9,905|643|643||
|Sequoia EconomicInfrastructure Inc|NPV||7,500|6,105|||||||7,500|5,565|516|516||
|Severn Trent|97.89p%|ordshares|725|17,603|||||||725|48,959|861|861||
|SSE Ple|50p|ordshares|1,275|20,266|||||||4,275|20,413|780|780||
|Smiths Group|37.5p|ord shares|2,000|31,920|||||||2,000|35,580|875|875||
|Standard Chartered|BA|Non-cum irr pref|3,800|4ATS|6,250|8,005|||||40,050|12,889|571|871||
|TargetHealthcare|4p|ordshares|8,560|6,805|||||||8,560|7584|476|476||
|The Renewables Infrastructure Grp||Ord shs|15,111|14,960|||1,511|41,132|-|364|43,600|40,220|1,129|4,129||
|Triple Point Energy Eff Infrs Co Pic|4p|Ord shs|44,000|9,660|||14,000|8,309|-|4.351|-|-|-|||
|TwentyfourIncome Fund|Gbp 0.01|Ord shs|1,500|4,569|3,800|3,981|||||5,300|5,756|377|377||
|Unilever|3.41p|ordshares|683|26,207|||||||683|32,060|41,011|4,014||
|United Utilities|5p|ordshares|1,970|20,163|||||||1,970|20,754|654||654|
|Weir Group|12,5p|Ord shares|||190|4,558|||||180|3,899||||
||||||||PAGES|||||||||
||||[Humber]|MarketValue[Number|[Number|[Gost]|Number[Proceeds|[Proceeds|[Geiniloss)|||Namber|[WarketValue|||||
|Wasps - Final Redemption|||||||||||||468|468||
|Young&Co'sBrewery|12.5p|Aord|800|7,648|||800|6.211|-|1,437|-|-|179|472||



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## GEORGE FEARN TRUST 

## Independent Examiner's Report on the Accounts To the trustees of the George Fearn Trust 

| report to the trustees on my examination of the accounts of the George Fearn Trust (The Trust) for the year ended 5 April 2025. 

## Responsibilities and basis of report 

As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2017 ("the Act"). 

| report in respect of my examination of the trusts's accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## Independent examiner's report 

| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material aspect: 

1. accounting records were not kept as required by section 130 of the Act; or 

2. the accounts do not accord with these records; or 3. the accounts do not comply with the applicable requirements concerning the form and’ contents of accounts set out in the Charities (Accounts and reports) Regulations 2008 other than any requirement that the accounts give a "tue and fair view" which is not a matter considered as part of an independent examination. 

| 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 to enable a proper understanding of the accounts to be reached. 

## Signed:....c..cenninetiowe 

Claire L Taylor BA(Hons) FCCA Chadwicks Capital House 272 Manchester Road Droylesden Manchester M43 6PW 

Dates... ..eesecececececeetene 

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