CHARITY REGISTRATION NUMBER: 223794
FOUR WINDS TRUST
UNAUDITED FINANCIAL STATEMENTS
31 DECEMBER 2025
SAINT AND CO
Chartered Accountants 4 Mason Court Gillan Way Penrith 40 Business Park Penrith Cumbria CA11 9GR
Four Winds Trust
Financial Statements
Year ended 31 December 2025
| Page | |
|---|---|
| Trustees' annual report | 2 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 8 |
1
Four Winds Trust
Trustees’ Annual Report
Year ended 31 December 2025
Reference and administrative details
| Registered charity name | Four Winds Trust |
|---|---|
| Charity registration number | 223794 |
| Principal office | 23 Three Elms Road |
| Hereford | |
| HR4 0RH | |
| The trustees | Mrs J L A Cadbury |
| Mr J N Gillett | |
| Miss R Cadbury-Simmons | |
| Theodora Cadbury (Resigned 31 December 2025) | |
| Michael Bull | |
| Tracy Clark (Appointed 8 March 2025) | |
| Secretary | Mrs J L A Cadbury |
| Independent examiner | Ian Thompson, BA(Hons), FCA |
| 4 Mason Court | |
| Gillan Way | |
| Penrith 40 Business Park | |
| Penrith | |
| CA11 9GR | |
| Stockbrokers | Rathbone Greenbank Investments |
| 10 Queen Square | |
| Bristol | |
| BS1 4NT | |
| Principal bankers | CAF Bank Ltd |
| 25 Kings Hill Avenue | |
| Kings Hill | |
| West Malling | |
| Kent | |
| ME19 4JQ |
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Four Winds Trust
Trustees’ Annual Report
Year ended 31 December 2025
The trustees present their annual report with the financial statements of the charity for the year ended 31 December 2025. This report should be read in conjunction with the Trust Information given on page 2.
Objective of the charity
The objective of the charity is best described in a statement made by Henry Cadbury, the founder of the Trust: “After twenty three years of life in Fleet Street and six months at Toynbee Hall in Whitechapel, I had always hoped that in some way any result of my work might be to give those living in cities a better chance to enjoy nature and the beauties of the countryside.”
Achievements and performance
The main achievements in the year are the grants offered and paid out to support others to enjoy nature and the beauty of the countryside.
Financial review
The charity is pleased with how the charity’s funds are being managed since changing stockbrokers to Rathbones. The income from these investments help to cover the expenditure incurred by the charity in the year.
Reserves policy
The charity held £619,713 in total funds (2024: £621,076). The original endowment of £72,975 is classified separately. The funds have decreased by a total of £1,363 in the financial year.
The charity holds a healthy bank balance of £29,783.
The level of reserves is monitored and reviewed by the trustees as necessary and at least once each year.
Structure, governance and management
Governing document
The charity is a registered charity and is governed by a constitution dated 18 June 1963.
Organisational structure
The Four Winds Trust is a registered charity in England and Wales.
Method adopted for the recruitment and appointment of new Trustees
The Trustees of the charity are determined by the trustees at the annual general meeting. The board of trustees is open to individuals who are interested in furthering the works of the charity and meet the approval of the current board of trustees.
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Four Winds Trust
Trustees’ Annual Report
Year ended 31 December 2025
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 Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.
In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and 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 Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees' annual report was approved on 14 March 2026 and signed on behalf of the board of trustees by:
Jane Cadbury Secretary
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Four Winds Trust
Independent examiner’s report to the trustees of Four Winds Trust
Year ended 31 December 2025
I report to the trustees on my examination of the financial statements of The Four Winds Trust ('the charity') for the year ended 31 December 2025.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning 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 ‘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 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.
Ian Thompson BA(Hons), FCA Independent Examiner
4 Mason Court Gillan Way Penrith 40 Business Park Penrith CA11 9GR
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Four Winds Trust
Statement of Financial Activities
Year ended 31 December 2025
| Page No. Incoming resources Net dividends/interest 9 Bank interest Realised investment gains Total income Resources expended Charitable grants 10 Administration expenses 11 Total expenditure Net income/(outgoing) resources before transfers Unrealised gain/(loss) on investments 13 Fund balances brought forward at 01 January 2025 Fund balances carried forward at 31 December 2025 |
Unrestricted funds Totals Totals 2025 2024 £ £ 12,363 11,244 136 140 18,842 28,414 31,341 39,798 29,571 33,894 9,320 8,747 38,891 42,641 (7,550) (2,843) 6,187 (33,326) 621,076 657,245 619,713 621,076 |
Unrestricted funds Totals Totals 2025 2024 £ £ 12,363 11,244 136 140 18,842 28,414 31,341 39,798 29,571 33,894 9,320 8,747 38,891 42,641 (7,550) (2,843) 6,187 (33,326) 621,076 657,245 619,713 621,076 |
|---|---|---|
| 39,798 | ||
| 33,894 8,747 |
||
| 42,641 | ||
| (2,843) (33,326) 657,245 |
||
| 621,076 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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Four Winds Trust
Statement of Financial Position
Year ended 31 December 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed Assets | |||
| Investments | 592,256 | 598,186 | |
| Current Assets | |||
| Cash in hand | 29,783 | 24,716 | |
| Creditors: amounts falling due within one year | 3 | 2,326 | 1,826 |
| --------------------------- | --------------------------- | ||
| Net current assets | 27,307 | 22,890 | |
| --------------------------- | --------------------------- | ||
| Total assets less current liabilities | 619,713 | 621,076 | |
| --------------------------- | --------------------------- | ||
| Net assets | 619,713 | 621,076 | |
| Funds of the charity | |||
| Original endowment | 72,975 | 72,975 | |
| Accumulated revenue | 546,738 | 548,101 | |
| ---------------------------- | ---------------------------- | ||
| Total funds at 31 December | 619,713 | 621,076 |
These financial statements were approved by the board of trustees and authorised for issue on 14 March 2026, and are signed on behalf of the board by:
Mrs J L A Cadbury Secretary
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2025
1. General information
The charity is a registered charity in England and Wales and is unincorporated. The address of the principal office is 23, Three Elms Road, Hereford, HR4 0RH.
2. Statements of accounting policies
The financial statements have been prepared under the historical cost convention. Credit is taken for the income from net dividends when received. Credit is also taken for the recoverable tax or transitional relief relating to those dividends in the year in which they are received.
Charitable grants are accounted for when paid. The Trust’s commitment to making grants in the future is infrequent and not material .
3. Creditors: Amounts falling due within one year
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Independent Examination and Accountancy | 1,826 | 1,826 |
| Honorarium | 500 | - |
4. Investments
The Charities Act 2011 and the Charities (Accounts and Reports) Regulations 1995 require investments to be stated at their current market value.
The Trust’s stockbrokers, Rathbone Greenbank Investments, valued the investments at 31[st] December and this valuation has been incorporated into the Accounts, the resulting increase or decrease in the value (the unrealised gain or loss) has been shown on the Statement of Financial Activities for the year.
5. Trustee remuneration and related parties
Jane Cadbury honorarium payment of £500 for her work for the Charity is included in creditors owing this year. Last year the amount of £500 was paid within the financial year.
There were no related party transactions in the financial year.
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2025
Dividends/Interest Earned
£
| Abrdn OEIC Advanced Drainage System Inc Aegon Asset Applied Materials Inc ASML Holdings ASSA Abloy Atlas Copco Coats Group Plc Deutsche Bahn Finance Equity Trustees Fund Services Experian Plc FDM Group Holdings Plc Genuit Group Plc Goldman Sachs Funds III Greencoat UK Wind Plc HA Sust Inftra Halma Plc Impax Asset Mgmt Group Impax Environmental Mkts Plc Interest earned Intertek Group Plc Janus Henderson Investments Kainos Group Plc Kreditanst Fur Wie Kurita Water Industries Legal & General Group Plc London Stock Exchange Grp Londonmetric Property Marshalls Group Plc MIPS AB Octopus Renew Paychex Inc PICTET Funds Prudential Plc Rathbones Asset Mgmt Relx Plc Renewables Infrastructure Royal London Unit Trust S&P Global Inc Salesforce.com Schroder Investment Mgmt Spirax Group Plc SSE Plc Steris Plc Tomra Systems Treasury Stock/Gilts/Bonds Visa Inc Xylem Inc |
404.14 15.47 224.83 48.47 57.09 113.62 64.42 198.63 187.50 75.50 123.01 99.90 289.80 180.00 688.09 226.37 121.65 376.60 207.67 235.21 279.83 58.48 135.83 61.25 39.16 1,074.00 62.56 390.40 81.01 42.05 257.46 197.32 2.00 129.54 627.20 218.62 613.94 736.39 7.93 18.08 45.83 208.01 327.42 61.66 49.00 2,476.26 103.20 121.27 |
|---|---|
| 12,363.37 |
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2025
| Charitable Grants Angus Alive Belvoir Cricket & Country MB Bendrigg Trust Birmingham PHAB Children's Adventure Farm Trust Community FoundationForPlay Community Links Conservation Volunteer (H Bush) Conservation Volunteer (S Grange) Country Trust Cudham Faithworks Wessex RSC Forest of Avon Free To Be Kids Gairn Community Garden Getting Better Together Go Beyond Charity JC Higher Ground Allerdale John Muir Trust Kind annual promise Kind Liverpool Kingswood Trust Leicester Children’s Holi Macaroni Wood/Noah’s Ark New Routes Integration Nottinghamshire Wildlife JC Open Country Outdoors For You SCIO Outward Bound Trust Phoenix Bereavement Support Services Royal Forestry Sefton Children's Holiday Fund Severn River Trust Sheffield & Rotherham Wildlife Trust St Andrews Youth Group St Madoc Centre The Cart Shed The Garden Classroom The Greenwood Foundation CIC Toynbee Hall Wild in the City Woodcraft Cudham/Folk Woodland Trust Woodle Trust 46thFife Scout Group Total |
2025 2024 2023 2022 2021 2020 1,461 1,500 1,500 1,444 2,000 2,124 1,896 1,782 1,488 1,080 1,500 1,100 2,000 1,500 1,575 1,500 1,100 1,100 1,000 1,000 1,854 1,800 1,650 1,650 1,500 1,500 1,729 1,562 1,560 1,400 1,320 2,000 1,750 1,000 750 1,500 1,370 1,200 2,000 1,100 1,000 1,000 1,000 1,000 1,000 1,000 900 1,000 1,000 2,000 1,561 1,569 1,491 1,444 1,400 1,500 1,000 1,100 1,000 1,500 1,500 2,000 1,500 2,000 1,460 1,092 1,000 1,500 1,500 1,000 1,000 1,100 500 500 2,000 1,500 1,500 1,500 1,200 1,000 1,000 1,000 1,400 1,400 1,000 1,250 1,000 1,272 1,470 1,326 1,000 2,000 1,500 400 1,000 1,750 1,500 1,650 1,000 1,000 1,100 1,000 1,000 |
|---|---|
| 29,571 33,894 16,669 19,137 20,871 18,538 |
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2025
Administration Expenses
| Administration Expenses | |
|---|---|
| Saint & Co Accountants Rathbones Admin Fees AGM Expenses Honorarium Bank Charges ICO Legal Fees |
£ 1,938.00 5,300.16 876.29 500.00 58.51 47.00 600.00 |
| 9,319.96 |
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2025
Purchase of shares
| 23 | Accenture Plc | 4,720.49 |
|---|---|---|
| 10 | Adobe Inc | 3,068.24 |
| 390 | Atlas Copco AB | 4,973.24 |
| 5 | Belimo Holding | 3,697.60 |
| 110 | Bluebay Funds | 10,905.40 |
| 2500 | Greencoat UK Wind Plc | 2,447.55 |
| 46 | London Stock Exchange Group Plc | 5,013.61 |
| 36 | London Stock Exchange Group Plc | 3,342.24 |
| 18 | London Stock Exchange Group Plc | 1,601.94 |
| 860 | National Grid Plc | 9,789.81 |
| 5 | Partners Group Holding | 4,639.70 |
| 1200 | Rathbones SICAV Asia Equity | 12,000.00 |
| 5401 | Rathbones Asset Mgmt Ethical Bond | 5,458.55 |
| 4825 | Renewables Infrastructure Grp | 3,284.74 |
| 13 | S&P Global Inc | 4,780.94 |
| 23 | Salesforce.com Inc | 4,844.57 |
| 25 | Schneider Electric SE | 5,261.38 |
| 310 | Stewart Investors Asia Pac | 2,572.75 |
| 3300 | Stewart Investors Gbl Emerg | 14,212.44 |
| 65 | Veralto Corp | 4,870.61 |
| 36 | Waste Connections Inc | 4,743.72 |
£ 116,229.52
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Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2025
Unrealised gains on investments
| Opening Valuation Add Purchase of Shares Less Sale of Shares (at cost) Value of Investments as at 31 December 2025 Unrealised gain/(loss) on Investments (Page 4) £ |
598,186 116,229 |
|---|---|
| 128,346 | |
| 586,069 592,256 |
|
| 6,187 |
13
Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2025
Sale of shares
| Name of Company 1400 Aegon Asset Mgmt UK 100 APTIV Plc 3 ASML Holdings 80 ASSA Abloy 950 CT Lux III Responsible Gbl Euro Investment Bank 1.125% 6753 Fund Partners Ltd 170 Halma Plc 190 Halma Plc 6800 Home REIT Plc 853 Impax Asset Mgmt 547 Impax Asset Mgmt 200 Kurita Water Industries 1400 Lombard Odier Funds 20 Pictet Funds (Lux) Water 40 Rockwool A/S 690 Stewart Investors Asia Pac 3300 Stewart Investors Gbl Emerg Treasury 7/8% Green Gilt |
Proceeds Cost Profit/(Loss) 12,658.80 12,320.66 338.14 4,875.27 6,838.22 (1,962.95) 2,313.02 1,036.14 1,276.88 2,239.34 1,504.56 734.78 14,402.00 13,743.50 658.50 12,993.50 12,258.27 735.23 14,213.23 9,814.63 4,398.60 5,492.03 229.03 5,263.00 6,695.83 255.97 6,439.86 680.00 6,999.42 (6,319.42) 1,523.00 2,251.92 (728.92) 942.88 1,444.08 (501.20) 5,272.52 5,904.06 (631.54) 13,023.22 14,054.60 (1,031.38) 9,936.40 6,706.98 3,229.42 14,133.32 7,897.42 6,235.90 6,155.83 6,292.72 (136.89) 14,129.61 13,342.31 787.30 5,508.32 5,451.73 56.59 |
|---|---|
| 147,188.12 128,346.22 18,841.90 |
14
Four Winds Trust
Notes to the Financial Statements
Year ended 31 December 2025
Charitable Donations
Name of Company
| Bendrigg Trust Children’s Adventure Farm Trust Cudham Gairn Community Garden Getting Better Together Higher Ground Allerdale Kingswood Trust KIND (9/10 annual promise) Noah’s Ark Children’s Venture Nottinghamshire Wildlife Trust Sefton Children’s Trust Severn River Trust TCV Hollybush TCV Skelton Grange The Cart Shed The Garden Classroom The Greenwood Foundation CIC The Royal Forestry Society £ |
1,500 2,000 2,000 1,500 1,370 2,000 2,000 1,000 1,500 1,500 2,000 1,500 1,575 1,854 1,272 2,000 1,500 1,500 |
|---|---|
| 29,571 |
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