Charity registration ftum￿r 233696 IEngland and Wales) LASLETT'S (HINTON) CHARITY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 LASLETT'S (HINTON) CHARITY LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr C RAnstey Mr G W Ballard Mrs L C Baxier Mr T J Bridges MrDBDale Mr P W Hughes MrsA T King Mrs G T Newman Mr J V Panler Mrs LA Preece MrRBPugh Mrs N J Rogers Chaiman Mr J V Panler Finance & Investment Committee Mr C R Ansley Mr G W Ballard Mrs L C Baxter MrDBDale Mr P W Hughe$ Mr J V Panter Mrs L A Preece Grants Committee Mr C RAnstey Mrs L C Baxter Mi T J Bridges MrsA T King Mrs G T Newman Mrs LA Preece Mrs N J Rogers Property & Agrlcultural Committee Mr C RAnstey MrDBDale Mr P W Hughes Mr J V Panler Mrs N J Rogers Each Committee meeting is attended by the Clerk 8ndlor IheAgent as appropriate. LASLETT'S (HINTON) CHARITY LEGAL AND ADMINISTRATIVE INFORMATION Clerk to the Trustges Mr S P Inman Kateryn Heywood House BeTkeley Court The Foregate Worcester VVR13QG Agent to the Trustees MrA L Robbnson MRICS ARC Surveyors Limited The Cedar Office 5 Thackholme Worcester WR4 ORZ Charlty Number 233696 Reglstered Office Kateryn Heywood House Berkeley Court The Foregate Worcester WR1 3QG Auditor Kendall Wadley LLP Merevale House 27 Sansome Walk Worcester VVR1 1NU Bankers Lloyds Bank PIC 4 The Cross Worcester WR1 3PL Investm9nt Advlsors Quilter Cheviot Invgslmenl Management Senator House 85 Queen Victorfa st￿et London EC4V 4AB By a Resolution passed al a duly constituted meeting of the Trustees of Lasletvs {Hinlonl Charity on the 30th day of October 1962 there was conferred upon any three or more of the Trustees the power lo exècute Deeds or instruments in the names of the Trustees in accordance with the provisions of Sectson 34 of the Charities Act 1960. LASLETT'S (HINTON) CHARITY CONTENTS Page Trustees, ￿port Slalemenl of Trustees, responsibilities 11 Independent audit0￿S report 12-14 Statement of fin8ncial activities 15-16 Balance sheet 17 Statement of cash flows 18 Notes to the financial statements 19-30 LASLETT'S (HINTON) CHARITY TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustees present their report and accounts for the year ended 31 December 2025. The aecounls have been prepared in a¢¢ordance with the accounting Fiolicies set out in note 1 and comply with the Charity's Trust Deed, the Charities Act 2011 and Accounting and Reporting by Chalities.. Slalemenl ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods commencing from 1 January 20191 Reference and administrative details Reference and adminislralive detsils are provlded on the pages preceding this report. Details of the Trustee5 serving during the year are glven below in the structure, governance and management section. Objectives and actlvltlgs Objectlves The charitsble purposes of the Charity are set out in the 1879 Trust Deed and the Trustees consid& that the following (quoting from the deed) are the most relevant'.- assisting in the repair, resloralion. rebuilding or refitbng of any Churches and Chapels connected ￿th the Established Church of England., assisting poor, aged or infimi persons in such a manner as the Trustees may think fit,. providing and maintsining Almshouses or other homes for aged poor men or women either in conjunction wth or separate from and in additr'on lo the Alrnshouses in the City of Worcester already established and endowed by the said Wllliam Laslett. The Charity carries out these objectives primarily by- providing grants lo churches notably In relation to the repair and upkeep of the fabric but also to their overall improvement by the creation of additional facilities., providin9 grants lo charitable organisations which have as their key priority the health and weK8re of persons in need.. and., acting in Conjunction with and providing financial assistance if and when required to the Lasletvs Almshouse Charity. Public benefit The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what aL#ivilies the Charity should undertake. The benefft derived from grants awarded Is evident from.. the improvement of church structure8 enabling them lo continue lo provide a place of worship for the local community and in lum for the church as a body to provide support to local groups largely of a volurteer kind. Some 58 churches were offered grant provision during the course of 2025. This was a further increase on the previous year's figure of 49 and doLJble the number compared with five years ago. The payment is then dependent on the work proceeding and is available lo be claimed for a penod of ￿ years as from the date of the award. This may be extended with discretion. b the ability of a variety of charitable organisations to maintain their presence and viablllty and provide help and support whether of a financial, social, medical or advisory kind lo members of the public who rely on such acts of generosity. Some 30 local registered charities {inclucling the 20 referred to elsewhere in this report wth longgr term funding) were the beneficiaries of such grants during the course of 2025." c. the knowledge that the resldents of the Amshouses can be assured of continued housing provision in a pleasant and safe environment. LASLETT'S (HINTON) CHARITY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Activities The main activities for the charity relate first to the management of the famis and residential properties and the liaison with their respective tenants and then secondly Its the distribution of any surplus derived from those rents in the form of grant funding. These land and property holdings are located primarily in and around the village of Hinton on the Green near Evesham though during the course of the last few years the decision has been taken as part of the property portfolio review to acquire three residential properties on the southern and soulh-easlern outskirts of Worcester due lo the buoyant housing rental market there. These assets along with a portfolio ol investments are managed with a view lo securing a consistent revenue SI￿aM which can be utilised towards the provision of grants. The management of the residential properties includes their improvement and renewal and having plans in place for repair and maintenance works to be carried out. With the financial surplus genefated from the property rentals, the provision and administration of grants is an important resulting activity and the key means by which the tharrtable objectives are achieved. Achlevements and performance lal Farm & Property Management During the year, the charity continued to receive a strong and reliable income stream from ils agricultural and residential tenants. Rent payments were generally received on time, wth only occasional delays. and, Èncouragingly, long-lem ￿nI arrears remained at £0. This consistent income enabled the Charity lo further strengthen its balance sheet and provided greater confidence in directing future surpluses toward5 its charitable objectives, particularly the provision of grants. The Trustee's ots'eclive of materially increasing the level of grant funding year on year continues to be achieved. In addf(ion to m8inlaining a salisfaclory rental income. the charity's Agent continued to work closely with fam tenants lo support improvements in agricultural productivity. This included joint investment by the charity, as landlord, and ils occupational tenants in land drainage works to improve the farmability and productivity of eslale land. Agreement was also reached to facilitate the diversification of part of one agricultural holding through the creation of a racing yard and gallop, thereby enhancing the long-temi viability of the holdlng. During 2025, the charity's perseverarice with ils planning application at Downrip Farm was rewarded with the grant of planning permission for four new-build dwellings, replacing the previously approved Class Q consent for the conversion of a sleel-framed agricultural building. The charity will now consiLYer the most appropriate strategy lor the sile. particularly in light of the potential for a wider strategic urban extension enCompas￿ng both the sile and larger area of the chaiity's surrounding estate land. The application submitted by the charty for five new-build th4ellings at Manor Farm was. however, refused for a number of reasons. The charity's planning consullanls are currently reviewlng the grounds for reftjsal with a view lo submitting a revised applicatlon al the earliest opportunity. The charity remalns oplimislic that planning permission for new-build dwellings al Manor Farm can be secured. A programme of structural repairs and external improvement woiks was commissioned at Ballard's Famihouse. These works are Intended lo reduce future repair and maintenance li8bi5ities by securing the external fabric of the propety for an anlicipaled period of apPr0￿MatelY 50 years. subject only lo routine maintenance. The charity continues to implemonl its long-teim asset disposal strategy, which focuses on properties that are unlikely lo provide a sustsinable long-term nel income stream. One such propety is 38 Hinlon-on-the-Green. Following the death of the fomier statutory tenant. vacant possession was secured. enabling the charity to ￿VIeW the property's development potential and determlne the most appropriate disposal strategy. Subject lo the outcome of this review, il is anticipated that the property will be marketed for freehold sale during 2026. LASLETT'S (HINTON) CHARITY TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2025 Ibl Grant Fundlng A reading of the original trust deed and interpreting that into the modern era suggests that grant awards can be made in two specific areas. First, by glvlng support to the work of the Church of England mainly within the historic Worcester Diocese (but also lo the five adjoining dioceses of Hereford. Gloucester and Lichfield as well as Birmingham and Covenlryl by contributing towards the cost of church fabric repairs and improvements to facilities for the congregation. Secondly, lo support a whole variety of organisations who themselves can demonslr81e charitable otrl'ectives in the provision of financial, social. educational, health and welfare assistance lo those members of the commsjnity who are unable economically or physically lo do so themselves. Grants are nol made lo individuals direct. During the year the Grants Committee worked to a budget of £300,000 for awarding grants. That figuTe was split as between.. a sum of £112,500 allocated to churches within the six defined diocese5 and the balance of £187,500 for charitable organisations fuEfilling the temis of the grants policy That grant support was provlded lo some 58 churches and 30 charities. Of those charities 20 receive long term support as detsiled below and len were given grants in response to one-off applications. In tems of grants to the charities, as in previous years after having accounted for the long term grant awards and the one-off applications, there was surplus within the budget. In 2025 this amounted lo £13,250. This was then allocated equally as a °bonus payment" to each of those 20 long term supported charities. As a resu￿ the budget of £187.500 became fully ulilised. A combination of grants awarded which were paid out this year plus grants awarded but payable in future years amounted to £242.134. 111 Grants to Churches Grants lo churches are paid out upon receipt of invoices relating lo the work speofied in the application and completed. A period of two years plus a dlscrelionary provision for exiension is allowed for such works lo be completed for example if the church has encountered delays in completing the fundraising. or dday in obtaining requisite consents or difficulties with appointment of contractors. If the claim is unlikely lo be made within a further period of one year. applicants may be advised to re-apply and with the original grant offer being rescinded. A grant may be rescinded if the work has been completed wilhoul recourse lo the grant. During 2025 the Iruslees agreed lo the adoption of a new poli￿ providing guidelines for the assessment of applications for church grants. This was based on what had become established practice based on the original Laslett's trust deed. In the main grants are awarded to support repair and improvement works to the church fabric and structure both externally and internally and particularfy where this relates to the safety of the congregation and visitors and to the increased use of the church within the community. LASLETT'S {HINTON) CHARITY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 lill Grants to Charities Grants to charities are paid out shortly after the formal offer has been made. In administering the grants ID charities, the trustees rely on the grant policy they adopted in January 2018 and which was the subject of some Tewsions in subsequent years. Some further revisions were made in 2025. The policy sets out the criteria lo be considered when making a decision as to whether or not lo award a grant and rf so in what sum. In exercising their discretion under the policy the trustees are aided in this process by a scoresheet which they may Ljlilise to help them to refine an initial judgement. Although historically grants We￿ made in response to one-off applicallons from charitable organisations, the Trustees have fer( that two such organisalions based in Worcester bul also operating within the county should be grant aided over a longer period of time and to an enhanced degree compared with others. One such organisalion that was based in wOr￿ster bul which operated throughout Worcestershire and fvrther afield was Youth Support Services IYSSI. This group was well established and had a particular focus on providing support for the rehabilitation of offenders following completion of their custodial senten￿. Laslett's has supported YSS with grants since June 2015., ils present stream of funding was renewed in 2024. A further organisalion that the Trustees fell should be given longer temi support was Citizens, Advice Worcesler. This organisalion has been well established and very active in Worcester for many years. Laslett's IBS supported the CAB wth grants to fund an Advice and Housing Support Worker since April 2017.. the present stream of funding was renewed in 2024 for a further period of three years. During 2020 given the success appertaining lo the YSS and CAB grants noted above. the trustees extended the concept of providing ￿rtain other charities with longer term funding up lo a maximum of three years. Charities which have received grant funding from Laslett's in al least two Df the previous three years are invil¢d lo submit applications for such funding with supporting documentsts'on and to attend formal interviews. A further 18 charities have been successful (including two additions in 20251 with such applications and which has then pr<)vided them with the benefit of having the certainly of fvnding for that longer period and avoided the necessity of submitting new applications each year. This provided some reduction in the admirbl5lra￿ve process for both the charities concerned and Laslett's. The total awarded for the calendar year 2025 under this heading amounted lo £t31.500. LASLETT'S (HINTON) CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Flnanclal review During 2025 the income for the Charity was £632,836 la decrease of £11,871 on 2024) and the expenditure (including grants) was £622.668 (an increase of £164,970 on 20241. th gains in the value of investments of £174,061 and an upward revaluation of properties of £809,000, the overall value of the charity increased by £993.229 from £24,303,995 10 £25,297.224. Follo¥thng their appolnlment Quilter Cheviol drafted a fresh statement of investment policy which was approved by the Trustees. Although It was reviewed in 2025, no changes were made lo it. The key features of this are.. 8. Investment objective - Longer-term assets (reserves and endowmenll will be invested with the aim of al least maintaining the value or purchasing power in real lernis li.e. against inflation). b. Total return laroet - The total retum largel for the investment portfollos has been s81 at inllalion ICPII plus 3.5% p.a. net of fees. c. Income requirement- Income tsrget has been set at a minimum of 3% per annum. d. Time horizon The lime horizon for the investment portfolio is considered to be long temi li.e. more than five years). Investment Performance The balance sheet shows that as at 31 December 2025. investments amounted lo £2,242.667 compared wth £2.068,606 as al 37 Decemb$r 2024. an increase of £174,061. The majority of such monies were invested by Qullter Cheviol in their bespoke Global Income & Gr0￿h Fund for Charities; the balance was held with M&G Charity Mulli Assets Fund. The income derived from investments decre85ed during 2025 as compared wf(h the premous year by £28,943 from £148,245 to £119,302. Investment Powers The Trustees. f5nancial investrnenls are elther equities or govemment stocks. The Trustees regularty consult with their investment adviser (Quiller Cheviotl and have due regard lo any recommendations and Investments made. They do this by virtue of re9ular quarterly and other specific investment reports from Quilter Cheviol lo whom they have delegated the powers of investment management. The Trustees will invest the fiJnds in accordance with the Trustee Act 2000. Within IheAcl the Trustees.. shall exercise such power with the care that a prudent person of business would in making investments for a person for whom they fell morally obliged to provide.. * shall not make any speeulalive or hazardous investment land for avoidance of doubl this power to invest does not extend lo laying out money on the acquisition of futures and or trading options),. shall have regard to the need for diversification of investments in the circumstances of the Charity and lo the suitability of the proposed investments., there are no ethical or geographical restrictions. Tnjslees additionally have a duty lo review their investments at regular intervals. The Trustees will review the investment policy at least annually. The Trustees may change any part of the policy al any lime but only after having received advice. The Investment Manager must be an authorised person who 18 enlilled to carry out investment business under the provisions of the Financial Services Act 1986. LASLETT'S (HINTON) CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 ReseNes policy The total reserves of the charity are as shown on Ihg Statement of Financial Activities. They comprise two principal headings.. la} the capital fund, which represents permanent endowed a8sel8 and is hence Teslricled in the nature of ils application., and., Ibl the income funds, which are less restricted in their application and contain kn component parts- the designated fund to be utilised for (al refurbishment of properties and Ibl grants the general fund which the trustees can ulilise within their overall discretion. The endowed fund is represented mainly by the value of freehold land and buildings together with some financial investments and any cash arising on propety disposals held on a temporary basls that will be ulilised to acquire further properties. The position is summarised wthin figures taken from the balan¢8 sheet as follows.. 202 alnl loss 2025 Capltsl (Restricledl Fund Endowed Fund Income Iunreslridedl Funds Sinking Fund Designated IRefublshmentl Fund Designated IGranlsl Fund General Fund Totsl 22,737,956 100,000 336,000 294,492 835,547 24.303.995 936.340 23.674,296 100,000 146,000 294,492 1,082,436 25.297.224 1190,0Th]) 246,889 993,229 The Designated Fund comprises elements- one for refurbishment of propertles and one for future payment of grants. Refurbishment. The Trustees look the decision some ￿lIe ago that given the nature. age and use of the various properties in their ownership il was prudent to have a healthy fund available foT any necessary refurbishments particularly in respect of works which are beyond the usual liability of their agricultural and residential lenanls. This stands al £146.000 with £190.000 being ulilised in 2025 for Ballards Farm. Grants. Although discretionary in ils nature, the prowsion of grant funding to charities and churches is one that the Trustees wish lo maintain on a regular basis and enhance if possible. Consequently they have determined that il is important that there should also be set aside in advance an amount equivalent to the anlicipaled budget for grant provision for the ensuing year The fioure for 2025 was A51owing as well for grants awarded but not yel paid (largely applications from churches for repair and upgrade projects where funding needs to be assembled firstl the fund now stands al £294,492. The General Fund increased in 2025 by £246,889 and now stands at £1,082,436. The Trustees have aimed lo relain a level of unrestricted reseNes equivalent lo the running costs of the Charity for a period of al least one year. In 2025 those running costs amounted to £622.666. The Trustees detemiined, therefore. that the resetves were sufficient LASLETT'S (HINTON) CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Cash deposits Cash deposits a￿ placed with approved banks wlh suitable credit ratlngs. The Trustees agreed in 2022 having taken advice. to open an account with Flagstone Investment Management Limited. This enabled the Charity through Flagstone to select and opeiale deposit a¢counls with selected financial inslilulions on behalf of tre Charity. All such deposits were made with banks covered by the FSCS guarantee scheme and registered in the UK. The deposits are made on a variety of terms. Some accounts are instant access. some are fixed term, some are notice accounts ranging from 35 10 95 days, notice. Al the end of the term or the notice period the cash C￿ be reinvested in the same or different deposit holding. This has substantially raised the level of income compared wlh that when held al the Charity's own bank. Cash deposits may also be retsined within the charity fund managed by Quilter Cheviol. Rlsk management The Trustees have considered the major risks lo which they consider the Charity has been exposed and concluded that these lie in the Inhe￿nI risks of prevailing conditions in agriculture and in the residential propety market and in the stock exchange. The Trustees are well aware of the economic uncertainties both in agriculture arKI the stock market generally and will take whatever steps they consider necessary after tsking professional advice to mitigate and ￿dUce those risks. Risk idenliftcalion and management are specifically discussed and minuled at all Board meetings. In 2024 and following detailed discussions in 2023. the Board adopted the substantially revised risk register based on r&cognised standard fom7ats identifying risk of a governance, operational, financial, environmental 01 repulalional nature. Such risks had been appropriately scored by Board members. None had been identified as being in the red category bul rather all fell within the moderate or low risk ¢alegory. The Board will now review this document on a regular basis each year and did so during 2025. The Trustees confirm that no serious incident has taken place which they should have reported to the Charty Commission bul have not. Plans for the future The Trustees overall objective is to maximise the level of income that is available for grants and thereby fulfil the objectives of the Trust Deeds. They will continue lo do this by pursuing a policy of sound estsle management. Arising from the review of the property portfolio in 2017, the Trustees continued with the disposal of certain dwellings and building plols. Aligned lo Ihose disposals the Trustees wlll continue their programme to invest in alternative (more modem and energy efficientl properties which can produce a higher renta1 return from which an increased level of grants to churches and charitable organisalion5 can be made thus fulfilling the objectives of the Trust Deed. This has acquired some added urgency given the Impending conditions and deadlines lo meet more stringent energy efficiency conditions, made particularly hard by virtue of the Chairty's portfolio largely consisting ol properties that were built more than 100 years ago. As an interim measure whilst seeking to purchase such properties, the Trustees will look to hold cash with banks and building societies (including dep0511s held through Flagstone referred to above) which can pay an attractive rate of interest. In respect of the agricultural land and holdings It remains the Trustees. overall view that there should be no largescale disposal of the Estate though as and when opportunities present themselves. they would look lo enhance value. During the course of 2023 the Trustees had made the declsion to convert the charity from ils eurrenl legal status of being unincorporated to that of a Charitable Incorporated Organisation ICIOI and selected and engaged 8 firm of well-established solicitors to cary out the necessary legal work for this lo be achieved. During 2024 the Clerk coordinated the necessary procedures and provided the detailed instructions wth a view to the submission of an application to the Charity Commission in the early part of 2025. Registration of the new Laslett's Hinton Chairty CIO was achieved in August 2025 and work has since continued lo draw up the requisite vesting 8ssent as to all a8sels th a view lo their transfer to the new CIO in late 2026. LASLETh'S (HINTON) CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 structure* governance and management The Charity was eslablishgd by William Laslett 11799-1884}, a Worcester member of parliament, mayor, uvio dignitary and philanthropist. It operates under the terms of a Trust Deed dated 17 January 1879. Ils Registered Charity number is 233696. The Trustees who served during the year and up to the date of signature of the financial ststements We￿.. Mr C RAnstey Mr G W Ballard (Appointed 1st April 20251 Mrs L C Baxter Mr T J Bridges MrDBDale Mr P W HLJghes MrsA T King Mrs G T Newman Mr J V Panler MTS LA Preece Mr R B Pugh {Appointed 1 stApril 20261 Mrs N J Rogers The Trustees of this Charity also serve as Trustees of Laslell's Almshouses and have been appointed by a long series of Deeds of Appointment andlor Retirement since 1879. There is no provision as to the length of se￿1¢e or requirement for r&appoinlment afier a specified period of lime. All Trustees give their lime freely and no remuneration was pald lo any of them during the year. Trustees are required to disclose all relevant interests and lo register them wiÉh the Clerk. The Trustees are also required to give dglails of any interest that may relate lo an agenda item in which event if there is a eonfllcl or perceived conflict ot interest, they will withdraw from the meeting. Appolntment of Trustees The 8oard of Trustees have a wide range of professional and commercial experience including agriculture, chaiilable bodies, church archileclure, estate management. social work, care for the elderly, and aceountancy. The Charity seeks lo appoint Trustees who have skills and experlise which are relevant to the areas in which the Charity operates. At the time of appoinlmenl, new Trustees are provided with an induction pack within which are notes setting out the history and background of the charty including ils original objectives, current policies and copies of Board and Committee minutes for the preceding twelve months or longer period if necessary. Prior to formal appointment, potential new Trustees have been interviewed and accepted the role in principle are provided with the opportunity to have some one-t￿one discussion with the Clerk and Agent and with the Chairman In addition they are invested in a guest and confidential capacity lo the Board Mee￿n9 prior lo the date of their irtended appointment to gain first-hand experience of the Board and ils workings. LASLErr's (HINTON) CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Oryanisational structure The Board of Trustees meets on a regular quarterly basis. Usually the venue for those meetings is the communlty room in Laslett's Almshouses, Union Street, Worcester bul for the July quarterfy meeting. It meets at Elmley Castle Village Hall c105e to the Hinton Eslale properties. With the input of theirAgenl, Clerk and InvestmenlAdvisor by way of written reports andlor attendance at the meetings, they initiate, review and adopt policies which further the objects of the Charity as set out in the Trust Deed and ensure Compliance with current legislation and recommended good practice. The Trustees are also responsible for setting the remuneration levels of staff appointed by the charity. To enable the more expeditious conduct of business the Trustees have created three Committees which may examine Televanl issues in more detail and whlch may make recommendations to the Trustees lo make a formal decision. The Grants Committee which meets on a regular quarterly basls1s given the duty of giving detailed consideration lo all grant applications received and lo recommend approval or iejeclion lo the Board of Trustees. It does not have delegated power lo make a final decision. Applications for grants are submitted tts the Clerk prior lo their submission to the Grants Committee. The form on which applications are Submitted is designed to provide the Trustees with the data they require to make informed decisions. The Finance and Investment Committee meets quarterly wllh one of those meetings being attended by the Charity's investment managers when the overall direction and performance of the investments can be reviewed and heed given lo emerging trends. The Committee receives and reviews management accounts throughout the year and approves those for the year-end in readiness for audit. The Committee also has responsibility for producing a budget for the forthcoming year within which il endeavours lo maximise the amount available for grant awards. The Propety and Agriculture Committee meets on an ad ho¢ basis to consider issues relating to the management of the Charity's assets (primarily farms and landholdings) where decisions of a signifieanl nature are required lo b8 taken and which the Agent feels would benefit from closer scrutiny. A full recommendation can then be made to the Board. Trustees are required lo declare any specific interest before any discussion relating lo grants or any other matters discussed al either Trustees, meetings or al the Grants and Investment Committee meetings. There have been no declared interests in the year of account_ The Agent lo the Charity is Mr Adrian Robinson of ARC Surveyor5 Limited, The Cedar Office. 5 Thackholme, Woicesler, WR4 ORZ whose duties and respDnsibililies include the following. Management of the Charills properties including liason with tenants and licensees and overseeing rinances,. Reporting to each quarterly meeting of the Trusleos. All aspects of financial administration including the Charity's needs and cash flow posltion and the preparation of quarterly management accounts. Advising the Trustees on what funds are available foT distribulion as grants. The Clerk to the Charity ig Mr Stephen Inman whose duties and responsibilities include the following.. Preparation of agendas for quarterly Trustee Board meetings. Committee meetings and drthng of minutes,. Provision of guidance on legal and govemance issues at meetings and generally. Liaison with Agent. Accountants, Investment Manager and Trustees as lo administrative matters. Oversight of the process in relation lo grant applications. LASLETT'S {HINTON> CHARITY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Relatedeharltles The Charity has a close relationship with Laslett's (Almshouse) Charity given its Agent, Clerk and investment advisers. as well as its TrLJStees are common on both. This arlses historically from both Charitiès havè a eommon benefactor and founding philosophy. The main object of L8sletVs Almshouses is to manage the almshouses situated at Union Street Worcester for its resident5. On behalf of the Board of Trustees Mr J V Pantgr Chairman Mr G W Ballard Finance Committee Chairman 7Augusl 2026 7 August 2026 10- LASLETT'S (HINTON) CHARITY STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustees are responsible for preparing the Trustees. Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. The law applicable to charities in England and W21es requires the Trustees to prepare accounts for each financial year which give a true and fair vlew of the slate of affairs of the Charity and of the incoming resources and application of resources of the Charfty for that year. In preparing these accounts. the Trustees are required lo.. select suitable accounting policies and then apply them consislenlly; observe Ihe meth¢)ds and principles in tho Charlties SORP., make judgements and estimates that are reasonable and prudent., stale whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts., and prepare the accounts on the going con¢em basis unless it is inappropriate lo presume that the charity will continue in operation. The Trustees are responsible for keeping sufficient accounting records that disdose with reasonable accuracy at any lime the financial position of the Charity and enable them lo ensure that the accounts comply with the Charilles Act 2011, the Charity IAccounls and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the eharlly aml hence for tsking reasonable steps for the prevention and detects'on of fiaud and other irregularities. 11 LASLETT'S (HINTON) CHARITY INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF LASLETT'S (HINTON) CHARITY Oplnlon We have audited the financial slalemenls of Lasletvs {Hintonl Charty {the 'Charity') for the year ended 31 December 2025 which comprise the statement of financial activities. the balance sheet, the slalemenl of cash flows and notes lo the financial 5talemenls, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The FinanGial Reporting Standard applicable in the UK 8nd Republ￿ of lTrland Iuniled Kingdom GenerallyAceepted Accounting Practice). In our opinion, the financial slalemenls.. give a true and fair view of the stale of the charity's affairs as al 31 December 2025 and of ils incoming resour￿$ and application of resources. for the year then ended., have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been Pfepared in accordance with the Charities Act 2011. Basls for oplnlon We conducted our audit in accordance with Inlemalional Standards on Auditing IUKI {ISAs {UKII and applicable law. Our responsibilities under those standards are further described in the Audilorts responsibNlities for the audit ol Ihe financial slatemenls section of our report. We are independent ol the Charity in accordance wth the ethical requirements that are relevant lo our audit of the financial statements in the UK. including the FRC'S Ethical Stsndard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financlal slalemenls, we have concluded that the Trustees. use of the going concem basis ol accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomed, we have not identified any material uncertainties relating lo events or conditions that. individually or collectively. may cast significant doubl on the Charity's ability to continue as a going oncern for a period of al least ￿1ve months from when the fjnancial statements are authoris$d for issue. Our responsibilities and the responsibilities of the Trustees wth respect lo going concern are described in the rel&vanl sects'ons of this report. Other Infomiation The other informalion comprises the information included in the annual report other than the Tinar￿SaI slalemenls and our auditor's report Ihereon. The Trustees are responsible for the other information contained wilhin the annual report. OUT opinion on the financial stalernents does not cover the other inform81ion and we do not express any form of assurance conclusion theregn. Our responsibility is to read the other infomiation and, in doing so, consider whether the other information is materially inconsislenl with the financial statements or our knowledge obtained In the course of the audit, or otherwise appears to be materially misslalèd. If we identify such material inconsistencies or apparent material misstatements, we are required lo determine whether this gives rise to a material misstatement in the financial slalements themselves. If, based on the work we have performed, we conclude that there is material misslalement of this other infomalion, we are required to report that fact. We have nothing to report in this regard. Mattets on whlch we are rgqulred to report by exceptlon We have nothing to report in respect of the following matters In relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report lo you if, in our opinion.. the information given in the financial stslements is inconsistent in any material respect with the Tru$lee$' report." or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records; or we have not recelved 811 the information and expl8nalions we require for our audit. 12- LASLETT'S (HINTON) CHARITY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF LASLETT'S {HINTON) CHARITY Responsibilities of Trustee$ As explained more fully in the slalement of Twslees, responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary lo enable the preparation of financial slalernents that are free from material misslalemenl, whether due lo Iraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Charity's ability to continue as a going concem, disclosing, as applicable, matters related lo going Concem and using the going Concern basi5 of accounting unless the Trustees either intend lo cease operations, or have no realistic alternative but lo do so. Auditorfs responslbllltles for the audlt of the flnanclal statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect Ihereunder. Our objectives are lo obtsin reasonable assurance about whether the financial statements as 8 whole are free from material misstslement, whether due lo fraud or error, and to Issue an auditOT'S report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misslalemenl when it exists. Misststements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected lo influence the economic declsions of users taken on the basis of these financial statements. The extent to which our procedures are capable of delecling irregularities. including fraud, is delalled below. Extent to whl¢h the audit was consldered capable of detectlng Irregularities, Includlng fraud an understanding of the risk assessment proces5 (including the assessment of the risk Df fraud) adopted by the Trustee Board is obtained and their attitude to risk ascertained. an assessment of the susceptibility lo material mis-statement of the financial slalemenls as a result of management over-ride or fraud is n7ade. it is ensured that the engagement team have, Collectively, the appropriate competence, capabilib.es and skllls to be involved in the assignment. are fully briefed and understand the risks specrfie to the charity. Audit responses to risks identified processes to lest the outcomes of our assessment include, a review of Trustee Board minutes. analytical review, the relevance and accuracy of significant accounting estimates, substantive lesling of significant transactions, work to identify unusual or unexpected accounting entries including the testing of journal enlries. information disclosed in the financial statements is traced to supporting documenlalion. In all instances it is acknowledged that material mis- statements that arise from fraud may involve deliberate concealment or eollusion and are, therefore. by their very nature harder lo delect than those arising from error. an Ltnderslanding of the legal and regulatory framework as applicable to the charity is obtained together %Mth knowledge of the procedures pul in place by the charity in order lo comply wth the same. it is established if there have been any inslanees of non-compliance with applicable laws and regulations, where there are such breaehes, a full understanding, including gathering of relevant documentation appertaining lo the event is obtained and assessed. It should be noted that Auditing standards limit the audit procedures required lo identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspectlon of regulatory and legal correspondence. if any. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11 .frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report. 13- LASLETT'S (HINTON) CHARITY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF LASLETfs {HINTONI CHARITY othgr matters Your attention is drawn lo the fact that the charity has prepared financial statements in accordance with 'AccOun￿n9 and Reporting by Charities.. Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021" las amended) in preference lo the Accounting and Reporting by Charities.. Slalement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulats'ons but has now been withdrawn. This has been done in order for the finanaal statements to provide a true and falr view in accordance with current Generally Accepted Accounting Practice. Use of our report This report is m8de solely to the charity's trustees, as a body, accordan￿ with Part 4 of the Charities IA¢counls and ReF)Ortsl Regulations 2008. Our audit work has been undertaken so that we might stsle to the charity's liustees those matters we are required lo state lo them in an auditor's report and for no other purpose. To the fullest extent pem)itted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body. for our audit work, for this report. or for the opinions we have fomied. Sarah Morley BA (Honsl ACA (Senior Statutory Auditor) for and on bghalf of Kendall Wadley LLP 7 August 2026 Chartered Accountants Statutory Audltor Merevale House 27 Sansome Walk rcesler v￿R1 1NU Kendall Wadley LLP 15 eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as audf(or of a company under section 1212 of the Companies Act 2006. 14- LASLETT'S (HINTON) CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025 Current financial year UnTestrlcted Unrestricted Endowment funds funds funds general deslgnated 2025 2025 Total Total 2025 2026 2024 Notss Charitable activities Investmerbts 513,534 119,302 513,534 119,302 496,462 148,245 Total Incomg 632,836 632,836 6H,707 Raising funds 116 116 1.894 Charitable aclivitigs 822,552 622.552 455,804 Totsl expenditure 622.668 622,668 457,698 Net income before Investment movements 10,168 10,168 187.009 Net gainslllossesl on investments 12 46,721 127,340 174,061 115,456 Net Incomlng resources before transfers 56,889 127,340 184.229 302,465 Gross transfers between funds 13 190.000 {190,000) Net Incomlng resources 246,889 1190.0001 127,340 184,229 302.465 Other recognised gains and losses Revaluation of tangible fixed assets 809,QOO 809,000 1,260,343 Net movement In funds 246,889 1190,0001 936,340 993.229 1,562,808 Fund balances at 1 January 2025 835,547 730,492 22,737,956 24,303,995 22.741,187 Fund balances at 31 December 2025 1,082,436 540.492 23.674,296 25.297.224 24.303.995 The slalement of financial activities includes all gains and losses recognised in the year. All Income and expenditure derive from continuing aclivilies. 15- LASLETT'S {HINTON) CHARITY STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Prfor flnanclal year Unrestricted Unrestrlcted Endowment funds fund$ funds general deslgnated 2024 2024 Totsl 2024 2024 Notes Charitable activities Investments 496.462 148.245 496,462 148,245 Total Income 6H,707 644,707 Raising funds 1,894 1,894 Charitable aclivilies 455,804 455,804 Total expenditure 457.698 457,698 Ngt incoming resouTces before investment movements 187.009 187,009 Ngt gainslllosses) on investments 12 32.346 83,110 115,456 Net Incomlng resources before transfers 219,355 83,110 302,465 Gross transfers ￿tween funds 13 2.523 {2,5231 Net Incoming r8sourcps 221,878 {2,5231 83,110 302,465 Other recognlsed galns and losses Revaluation of tangible fixed asset5 1.260,343 1,260,343 Net movement In funds 221,878 {2,5231 1.343.453 1,562,808 Fund balances at 1 January 2024 613.669 733,015 21.394.503 22,741,187 Fund balances at 31 December 2024 835.547 730,492 22,737.956 24.303,995 16- LASLETT'S (HINTON) CHARITY BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 Notes Flxed assets Tangible assets Investments 14 15 21,359,725 2,242,667 20,550,725 2,(￿8,606 23.602,392 22.619.331 Current assets Debtors Investments Cash at bank and in hand 16 17 77.977 742,270 1,214,658 125,322 637,431 1,294,148 2.034,905 2,056.901 Creditors: amounts falling due withln one year 18 1306,5731 {320.2371 Net current assets 1.728,332 1,736,664 Total assets less current liabllltles 25,330,724 24.355.995 Creditors: amounts falllng due after more than one year 19 133,5001 {52.0001 Net assets 25,297,224 24,303,995 Capltal funds Endowment funds Income funds stricled fun Designated funds General unrestricted funds 21 23,67d,296 22.737.956 22 540,492 1,082,436 730,492 835.547 1,622,928 1,566.039 25,297,224 24,303,995 The financial ststements were approved by the Trustees on 7 August 2026 Mr G W Ballard Finance Committee Chaimian Mr J V Panter Chaiman 17- LASLErrs (HINTON) CHARITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025 2025 2024 Notss Cash flows from operatlng activlties Cash {absorbed byllgenerated from operations 25 {93,9531 10,653 Investing activltlgs Investment income received 119,302 148,245 Net cash generated from investlng activities 119,302 148,245 Net increase In cash and cash equivalents 25.349 158,898 Cash and cash equiv8lents 81 beginning of ye 1,931,579 1,772,681 Cash and cash oquivalents at end of year 1.956.928 1,931,579 18- LASLETfs (HINTON) CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng pollcies Charity informatlon Laslett's {Hintonl Charty is a charity registered in England and Wales (number 2336961. Ils registered address is Kaleryn Heywood House, Berkeley Court, The Foregate, Worcester, VVR1 3QG. 1.1 Accounting convention The accounts have been prepared in accordance with the Charitys Trust Deed, the Charfties Act 2011 and '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 IFRS 1021. {as amended for accounting pe￿0d5 commencing from 1 January 20191. The Charity is a Public Benefit Entity as defined by FRS 102. The finaneial statements have departed from the Charities {Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. Thls departure has involved following the Ststemenl of Recommended Practice for charities applying FRS 102 rather th8n the version of the Statement of Recommended Practice which Is referred to in the Regulations but which has since been wthdrawn. The financial slalemenls are prepared in sterling, which Is the functional eurrency of the Charity. Monetary amounts in these financial slalemenls a￿ rounded lo the nearest £. The accounts have been prepared under the historical cost convention, modified lo include the revaluation of freehold properties and certain financial instruments al fair value. The principal accounting pglicies adopted are set out below. 1.2 Going concern At the time of approwng the financial slalements, the Trustees have a reasonable e￿cIatIOn that the Charity has adequate resources lo continue in operational existence for the foreseeable future and that there are no materi81 uncertainties about its ability to continue. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial ststemenls. 1.3 CharFtable funds Unrestricted funds are available for use at the discretson of the Trustees in furtherance of their charitable objectives. Designated funds are to be maintained, if possible. al a level adequate lo cover major future Ilabililies where both the liming and quantum cannot be accurately ascertained. Endowment funds represent th08e assets which must be held permanenuy by the Charity. principdly propety and inveslmenls. 1.4 Income Income from investments and property is recognised when the Charity Is legally entitled lo it after any perfomiance conditions have been mel, the amounts can be measured reliably, and it is probable that income will be re￿ived. 19- LASLETfs (HINTON) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng pollclgs {Continuedl 1.5 Expendlture Expenditure is recognised once there is a legal or conslruclive obligation lo transfer economic benefit lo a third paty. il 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 dir￿1 costs and shared costs, including support costs involved in undertaking each aclivily. Direct costs attributable ID a single activity are allocated directly lo that activity. Shared costs which contribute lo more than One acb'vity and support costs which are not attributable to a single ath'vity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portion of the asset's use. Resources expended are included in the Statement of Flnancial Activities on an acryuals basis, indusive of any VAT which cannot be recovered. Governance costs are the costs associaled with the running of the charity and are wholly attributsble to the charitable activities undertaken. 1.6 Tanglble flxed assets Properties whose fair value can be measured reliably are held under the ￿vaLuation model and are carried at a revalued amount, belng their fair value at the dale of valuation less any subsequent accumulated depreciation and subsequent accumulated impaimient losses. The fair value of the land and buildings is usually considered lo be their market valug. Revaluation gains and losses are recognised in Dlher recognised gains and losses and accumulated in equity. except to the extent that a revaluation gain reverses a revaluation loss previously recognised in net incomel {expenditurel or a revaluation loss exceeds the accumulated revaluation gains recognised in equity- such gains and loss are recognised in nel incomellexpenditurel for the year. The Slalemenl of Recommended Practice IFRS 102} requires that a provision be made for depreciation of tangible fixed assets having a finite use of life. However. the Trustees are of the opinion that the residual value al the end of the estimated useful life of the property is not likely rnalerially lo differ from ils cost, or re-valued amount {reviewed annually). Therefore. any element of depreciation is considered lo be immaterial and no provision is made, movements in valuation a￿ tsken to the Statement of Financial A¢livilies as delem)ined. The gain or loss arising on the dlsposal of an asset is determined as the difference be￿en the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Flxed asset investments Fixed asset investments are initially measured al trans8￿￿on price exduding Iransactlon costs, and are subsequently measured al fair value at each reporting date. Changes in fair value are recognised in net incomel{expendilure} for the year. Transaction costs are expensed as incurred. 1.8 Impalrment of fixed assets Al each reporting end dale, the Charity Teviews th8 carrying amounts of its tangible assets lo determine whether there is any indication that those assets have suffered an Impaimient loss. If any such indication exists. the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss lif any). 1.9 Cash and cash equlvalents C8sh and cash equivalents include cash In hand. deposits held at ¢all with banks, other short-temi liqiud investsnents wlh original rnalurilies of three months or less. -20- LASLETT'S (HINTON) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 A¢¢ounting pollcles {Continuedl 1.10 Flnancial instruments The Charity has eleclers to apply the provision5 of Section 11 'Basic Financial Inslrumenll and Section 12 'Olher Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in thè Charity's balance sheet when the Charity becomes party lo the conlraclual provisions of the inslrumgnt. Financial assets and liabilities are offset. wlh the net amounts presented in the financial stslements, when there is a legally enfor￿able right to set off the recognised amounts and there is an intention lo settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured transaction price including transaction costs and are subsequently carrled al amortised. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities. including creditors are initially recognised al transaction price. Financial liabilities lassified as payable within one year are not amortised. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as Current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Tradè creditors are recognised initially al transaction price and subsequently measured al amortised cosl using the effective interest method. Derecognitlon of financial liabllltles Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or ancelled. Crltlcal accountlng estlmates and judgements In the application of the Charity's accounting policies, the Trugtees are required to make judgements, estimates and assumptions about the carying amount of assets and liabilities that are not ￿&dilY apparent from other sources. The estifnales and assgcialed assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and fLtture period$ where the revision affects both current and future periods. 21 LASLETT'S (HINTON) CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Income from charitable activities Unrestrlcted Unrestrlcted funds funds 2025 2024 CharStable actlvltles Charitable rental income Other income 512.094 1.440 488.848 7.614 513.534 496,462 Income from investments Unrestrlcted Unrestrlcted funds funds 2025 2024 Income from listed investments Interest receivable 58.872 60.43L) 58,389 89,876 119.302 148,245 Ralslng funds Unrestrlcted Unrestrlcted funds funds general general 2026 2024 Investment management 116 1.894 116 1.894 LASLETfs (HINTON) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Charitable activitie$ Grants Property payable EX￿ndItuTe Total 2025 Total 2024 Refurbishment costs Ballards Farm 190,433 190.433 12,182 190.433 190,433 12,182 Other costs Insurance Repairs and renovations Professional fees 25,826 62.420 20.053 25,826 62,420 20,053 22,207 35.807 23.080 Grants to other charities 242.134 242,134 296,024 Share of support costs {see note 8} Share of governance costs (see note 81 79,586 2.100 79.586 2,100 64,739 1,765 242,134 380,418 622.552 455,804 Analy$ls by fund Unreslrfcled funds - general 242,134 380.418 622,552 242.134 380.418 622,552 Forthe year ended 31 December2024 Unrestricted funds- general 296.024 159,780 455,804 296,024 159,780 455,804 -23- LASLETT'S (HINTON) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Grants payable Total 2025 Total 2024 Grants to institutions= Rector of Hinton YSS Limited Vvorcesler Community Trust Relate Maggs Day Centre GarageArt Cruse Bereavement Support Amchair Cedar Tree The Mary Stevens Hospice Acorns Childrens Hospice The Bridge Counselling Service Iniorcester CAB Worcester Snoezelen Grants lo Churches Other 600 17.500 40,000 15,736 15,000 18,736 7,500 18,000 12,736 9,000 18.000 18.000 18.000 60.000 18.000 118.224 18.700 112.500 1,926 242,134 296.024 Support costs allocated to actlylties 2025 2024 Agent's management fees Clerk's fees Sundry expenses Aecountsncy A¢countan¢y- agent Governance costs 62,476 6,328 4,171 2,886 3,725 2,100 51.347 5.538 2,645 1.585 3,624 1.765 81,686 66.504 Analysed between: Charitable acts'vilies 81,686 66.504 -24- LASLETT'S (HINTON) CHARITY NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Support costs allocated to activ5tles Icontlnued) 2025 2024 Governance costs comprl$e: Auditors, fees.. audit 2,100 1,765 2.100 1,765 Trustees None of the Trustees lor any person5 connected with them) received any remuneration during the year nor were any expenses re-imbursed. During the year the Charity has again taken out insurance for Trustees, and individual liability, employment practices liaEy'lity and professional and legal liabilily in each instsnce to a limit of £1 million. 10 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number Total Included in clerks fees is remuneration recharged from Laslett's (Almshouse) Charity of £6,32812024'. £5,538) in respect of this appointment. There were no employees whose annual remuneration was more than £60,000. 11 Taxatlon The charity is exempt from tsxalion on its activities because all its income is applied for charitable purposes. 12 Galns and losses on Invgstments Unrestricted Endowment funds funds 2025 2025 Total Unrestrlcted Endowment funds funds 2024 2024 Total 202S 2024 Gainslllosses} arising on.. Revaluation of investments 46,721 127,340 174,C61 32,346 83.110 115,456 13 Transfers Transfers have been made btheen the unrestricted and designated funds to cover the costs of refurbishment projects and presenufutU￿ grant commitments. -25- LASLETT'S (HINTON) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 14 Tanglble fixed assets Tenanted Tenanted Woodlands Dwelopment famis and land cottages and and othèr18nd site resldential property Total Cost or valuation At 1 January 2025 Revaluation 13,679,300 5.570.000 649,000 160,000 126,425 1.175.000 20,S50,725 809,000 At 31 December 2025 14,328,300 5.730,000 126,425 1.175.000 21,359.725 Carrylng amount Al 31 December 2025 14,328,300 5.730,000 126,425 1.175.000 21,359.725 At 31 December 2024 13,679,300 5,570,000 126.425 1.175.000 20,550,725 Land and buildings with a carrying amount of £21,359,725 were revalued al 31 December 2025 by ARC Chartered Su￿eY0rS, independent valuers, on the basis of market value. The valuation conforms trj International Valuation Standards and was based on recent market transactions on arm's len9lh terms for similar properties. -26- LASLETT'S (HINTON) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 15 Flxed asset investments Listod investments Cost or valuation At 1 January 2025 Valuation changes 2.068,606 174.061 At 31 December2025 2,242,667 Carrying amount At 31 Decembor 2025 2,242,667 At 31 December 2024 2.068,606 16 Debtors 2025 2024 Amounts falllng duo wlthin one year.. Trade debtors Prepayments and a￿rUed income 55,526 22,451 89.908 35,414 77,977 125.322 17 Current asset investments 2025 2024 Temi deposits 742.270 637.431 18 Creditors- amounts falling due wllhln ong year 2025 2024 Notes Other tsxalion and social security Deferred income Other creditors Acuuals 22,235 24,876 236,719 22,743 22,857 25.078 254.399 17,903 20 306,573 320,237 -27- LASLETT'S (HINTON) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 19 Credltors: amounts falllng due after morg than one year 2025 2024 Accruals for grants payable 33.500 52,000 20 Deferred income 2025 2024 Arising from rents paid in ￿VanCe 24.876 25,078 All the above relate to the following perlod and are released in full. 21 Endowment funds The endowed funds represent those asse15 which must be held pemianently by the Charty, principally investments and propety. At 1 January 2025 Incoming resources Resources Revaluatlon Flxed asset expended on tsnglble Investments flxed assgts gainslllossesl At31 Decembor 2025 Permanent endowments Endowed funds 22,737.956 809,OQO 127.340 23,674.296 22,737,956 809,000 127,340 23,674,298 Prevlous year: At l January 2024 Incoming resources Resources Revaluatlon Fixed asset expended on tangible Investments flxed assets gainslllossesl At31 December 2024 Pem)anent endowments Endowed funds 21.394,503 1.260.343 83,110 22,737.956 21,394,503 1,260,343 83.110 22.737,956 Income arising on the listed investments held in the endowment fund Can be used in accordance with the objects of the Charity and is included as unreslricled income. The above income is in connection with the disposal of freehold property and is necessarily held in the fund arn# will be used lo acquire furth￿ freehold property. LASLETT'S (HINTON) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 22 Unrestrlcted funds - Designated The income funds of the charity include the following designated fvnds which h8ve bèen set aside out of unreslrlcted funds by the Trustees for specific purposes= At l January 202S Transfors At31 December 2025 Refurbishment fund Designated grants fund 436.000 294,492 436,000 104,492 {190.0001 730,492 {190,0001 540.492 Prevlous year: At 1 January 2024 Transfers At31 December 2024 Refurbishment fund Designated grants fund 436,000 297,015 436.000 294,492 {2,5231 733,015 12,5231 730.492 The purpose of the refurbishment fund is lo finance essential expenditu￿ on property owned by the Charity. The designated grants fund is to finance grants awarded in the year which are yet to be claimed and to also Provide for future grant awards. 23 Analysis of net assets between funds Unrestricted Designated Endowment funds funds funds general 2025 Total 2025 2025 2025 At 31 De¢ember2025: Tangible assets Investments Current asselsllliabilitiesl Long term liabilities 21.359.725 1.603,458 711,113 21,359.725 2.242.667 1.728,332 {33.5001 639,209 476,727 133,5001 540,492 1.082.436 540,492 23,674,296 25.297.224 29- LASLETT'S {HINTON) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 23 Analysis of net assets bgtwgen funds (Continued) Unrestricted Designated Endowment funds funds funds general 2024 Totsl 2024 2024 2024 At 31 December 2024: Tangible as5els Investment8 Current assetsllliabililiesl Long term liabilities 20,550,725 1,347,661 839,570 20,550,725 2,068,606 1.736,664 152,0001 592,488 295,059 152,0001 128,457 602,035 835,547 730,492 22.737,956 24,303,995 Included in unrestricted funds are unrealised gains on investments for the year of £46,72112024.' £32.3461. Included in endowment funds are unrealised gains on investments for the year of £127,340 (2024.. £83,110) and unrealisèd gains on tangible fixed assets of £809,00012024'. £1,260,343>. 24 Related party transactlons Laslell's (Hinlonl Charity is related lo Laslett's Almshousos due lo the charities having common Tiuslees. Laslett's Almshouses charged remuneration lor the year amounting to £6,32812024'. £5.5381. Al the year end there was £nil12024'. £nill due to Laslett's Almshouses. 25 Cash (absorbed byllgenerated from operatlons 2025 2024 Surplus for the year 184,229 302,485 Adjustments for: Investment Income recognised in stslement of financial aclivits.es Fair value gains and losses on investments 1119,3021 {174,0611 1148,2451 {115,4561 Movements in working capital: Decreasellincreasel in debtors {Decreasellincrease in creditors {Decfeaselfincrease in deferred income 47,345 {31,9621 12021 (36,3841 8.L790 183 Cash {absorbed byllgenerated from operatlons {93,9531 10.653 26 Analysis of changes in net funds The Charity had no material debt during the year.