NEW ALRESFORD TOWN TRUST Charity No. 239052 TOWN ST NEW ALIlLS1￿{)R1) 1890 Annual Report and Accounts for the year ended 31 December 2025 Current Trustees Mrs Vanessa Andrews (Chairl Mr Roy Gentry (Treasurer) Mr Ernie Jeffs Mr Len Orton Mrs Clare PSnniger Mr Steve Parker Ms Sophie Rawlings Mr Nigel Webb Mr Charle5 Ackroyd Office- Old Fire Station, 54 Broad Street, Alresford, 5024 9AN Inde endent Examiner- Butler & Co Alresford Limited Chartered Accountants The Old Stables Sutton Manor Farm Bishop's Sutton Alresford Hampshire. S024 OAA NEW ALRESFORD TOWN TRUST CONTENTS Report of the Trustees 14 Balance sheet Statement of Flnancial Actlvity Accounting policies and notes to the account5 7-10 Trustees responsibility li Independent Examiners report 12 Appendlx to the I¢￿UrIts Members report NEW ALRESFORD TOWN TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustees present their report with the financial statements of the Trust for the year ended 31 December 2025. The Trustees have adopted the provlslons of Accounting and Reporting by Charities.. Statement of Recommended Practlce applicable to charitie5 preparlng their accounts in 3ctordance with the Finarsci31 Reporting Standard applitable in the UK and Republlc of Ireland IFRS 1021 leffective l January 20191. OBJEcfivES AND ACTIVITIES OF ThE TRUST The preservatlon of land, trees, buildings and documents In New Alresford and such other charitable purposes for the general benefit of the inhabitant5 of the Parlsh of New Alresford. The other charitable purposes currentlv are the restoration of the Eel House, the Arthur Stowell Hlstory Fund, the Alreslord Museum. Emergency Fundlng for dèservlng cases and the Community Minibus. Publlc benefit Statement The Trustees are aware of and have had regard to the guidance 155ued by the Charity Commbsslon on public benefSt and believe the activltles provide charitable support to the general publ1¢. The focus on the local community help5 foster community spirit and togetherness. Volunt•ers The Trust seeks members as well as voluntèers and does, from time to time, call on support from volunteers and members to asslst In fund raS5Sn8 aCtivitle5. The funds ralsed, as detailed later In this report, have a15 been achleved throu8h the actlvitles ol the Trust's members and 5UPPOrtefs plus 6rants from local councils for spe¢lfi¢ projects. ACHIEVEMENTS AND PERFORMANCE Prlnclpal Actlvltle5 The Trust's principal actlvlties In New Alresford are'.- Operatin8 a local Communlty Mlnibus. Running markets In Broad Street. Ownership of the Old Fire Station. Maintalning The Avenue and trees In Broad Street. Admlnisterlng the Arthur Stowèll History Fund. Operating a 99-year Lease on the Eel House and finalisin8 Its restoratlon. Setting LIP and operatlng the Alresford Museum. Emergency Funding lor de5ervln8 cases, includinB Covld. FINANCIAL REVIEW The Trust has adopted 3 pollcy of medlum financlal risk wlth the majorlty of its current assets, reflected In the various funds. being invested on a short-term ba515 or with COIF Charity Funds on a long-term basls, whlch currently give a better dividend return than cash invested. The Trust has no debt. At the balance Sheet date, the Trust carried forward charitable fund5 of £529.06912024 E654,1771 which Included £200,38312024- £211,8961 tTrf restricted fund5. A net deficit of £2,49012024- surpltss £28,523) from Income less expendSture arose in the year. The Avenue Fund currently stands at £15,057 and will be bullt up to £40,000 during the next 20 years. The General Fund stands at £90,582 and is adequate to cover the future activities. The Accounts reflect the unrealised losses by revaluation as at 31 December 2025 resultillg from the downward valuation of the heritage a55ets. Pagel I NEW ALRESFORD TOWN TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 ReseNe funds and actlvities The Trustees have reviewed their Principal activlties and consider the monies needed to carry out major projects to meet their objectives are adequate. Sèparate accounts The Trust anèlyses between thè followlng Designated Funds.. General Fund. Mlnlbus Account. Arthur Stowell History Fund. Eel House. S. Alresford Museum. Hardship Fund for deserving cases includlng Covld relief. The Avenue Fund. Although the funds as allocated are not held In dlstlnct accounts, they are dealt with in the Trust as respectivelv Restricted and Unrestricted. Golng concern After makSng appropriate enqulries, the Trustee5 have a rea5tsnable expectation that the Trust has adequate resources to contlnue in operational existence for the lofeseeable future. For this reason, they continue to adopt the 8olng con¢efn basls in preparlng the linanclal statements. Further details regarding the adoption of the going concern basls can be found In the Accouniing Policles. FUTURE PLANS The economic posltlon In the wider communlty is expected to remain challen8in8, but thÈ Trust intends to malntain its support of communlty actlvltles. The Trustees are confident that the Trust will contlnue to be a valuable asset to the local community throughout 2026 and will undertake the planned actSvlties shown In the Members. report. STRUCTURE, GOVERNANCE AND MANAGEMENT Trust Deed The current Deed is dated 11 October 1989 and is the Trust's Governlng Document. Th15 ha5 been amended by Ordèr of Charity Commlssion dated 12 February 2004. by a TTU5tee5' resolutlon on 8 October 2012. and by Memorandum of Amendments dated 15 July 2015. The Trust was incorporated on 28 March 1890 as the 5tJcce55or Organisation to the Balliff and Burgesses. The Charity Commissioner5 have regulated the Trust throughDUt ils exbstence and agreed that 9 Trustees should run thp Trust wSth 5 bein8 nominees of the Parish (now Townl Council and 4 by co- optlons. 21 Currènt Positlon On 15July 2015, with the agreement of theTown Council and approval of Charlty Commission, theTru5t amended the Governing Document in several key areas.. Introducing a scheme of membership whereby residents mainly in the $024 area can join the Trust for a 'one off payment of £5 and over 150 Members have 50 far Signed up. b. Allowing the members to elert up to 5 Trustees every 4 years commencing at AGM on 23 February 2017. As a iesult of Covid, the rnember5 next election will be at the AGM 2026. Details of all the three Memorandum of Amendments are set out on the Trusvs website, together with the covering letter from the Charity Commission. Pagel 2 NEW ALRESFORD TOWN TRUST REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 31 DECEMBER 2025 RecruStment and appointmènt af new Trustee5 The appoSntment of new Trustee5 is governed by and set out in the 8overnin8 document. Rlsk management The major risks to which the Trust is exposed, as identified by the Trustees. have been revlewed and systems have been establlshed to mitl8ate these rSsk5. It is recognised that systems can only provide reasonable but not absolute asstjrance that major risks have been adequately mana8ed. In the opinion of the Trustees the key risks are'.- Thè loss of reputation due to error, ur fraud. The loss of Income due to error, or IraLJd. Insufficient number5 of Trustees to allow the Trust to contlnue. Insufficient funds to allow the Trust to meet It5 objectives. The loss of Income due to unforeseen event5 such as pandemlcs. bl dl In the opinlon of the Trustees the policles and procedures are adequate to miilgate financlal and reputation loss due to error tsr fraud whSlst maintainin8 a viable future financially. Internal control risks are minlm15ed by the implementation of procedures lor authorisation of all transactions and projects. Govèrnance cod• In 2025 The Trust adopted the Governance code for smaller charltles whlch follows the seven prlnclple5'. OrganSsatlonal purpose. Leadership. Integrlty. Decislon maklng, rlsk and control. Boafd effect5veness. Equallty, diversity and Incluslon. Openness and accovntablllty. REFERENCE AND ADMINISTRATIVE DETAILS Reglslered Charlty nUM￿r 239052 Prlnclpal address The Old Fire Station 54 Broad Street Alresford Hampshire S024 9AN Pagel 3 NEW ALRESFORD TOWN TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 Trustees Trustees served duriri8 the year as follows.. Current Tru5tees:_ Current term st#rted Type of Trusiee End of ¢urrent temi Vanessa Andrew5 Roy Gentry Ernie jeff5 15 June 2022 Co-opted by Trustees 15 June 2027 27 April 2022 IS August 2022 10 March 2022 Members vote Co-opted in place of members vote AGM March 2026 Co-opted in place of members vote AGM March 2026 Co-opted by Trustees 22 May 2029 Co-opted by Trustees 23 February 2029 Cc*-OPted In place of members vote AGM March 2026 Co-opted by Trustees 22 january 2030 Co-opted as elected Trustee AGM March 2026 Members vote AGM March 2026 AGM March 2026 Len Orton Steve Parker 22 May 2024 23 February 2024 16 July 2024 22 January 2025 l Dècember 2025 Clare Plnniger Sophie RawlSn85 Nigel Webb Charles Ackroyd Vacant During 2025 the Trustees carried out theSr princlpal actlviiles by dele8atin8 re5ponsibillty as follows.. Vanessa Andrews Roy Gentry Ernle Jeffs Len Orton Claire Plnni8er Sophle Rawlings Steve Parker Nigel Webb Chair, Markets and Eel House Treasurer and Alresford Museum and Webslte The Avenue Market and Clo¢k Mlnlbus and Hardshlp FLbnd Clerk and Bridge Open Days Museum and Open Day5 Sponsorshlp programme Patron Mlchael Spencer, the Ri8ht Honourable the Lord 5peneer of Alre5ford 15 willlng to continue as our Patron. Independent ExamSner A G Casp FCCA, Independent Examiner Butler & Co Alresford Llmlted Chartered Accountants The Old Stables Sutton Manor Fami Bishop's Sutton Alresford Hampshire S024 OAA Appro by order of the Board of Trustees on and si8ned on its behalf bv.. VAn W5 IChaSrl Page14 NEW ALRESFORD TOWN TRUST BALANCE SHEET AS AT 31 DECEMBER Z025 2025 2024 Note5 FIXED ASSErs Clock Old Minibus 2017 Minibus 2025 Minibus Minibus gaTa8e Flxtures & fittings Old Flre Station Herltage assets Total FIM£d Assèts 1,837 2,437 750 25,2LKI 22.050 81,38S 2,382 2,977 803 250,000 116 301 250,000 357,656 398,468 CURRENT ASSETS Barclays current account Barclays savings COIF cash, petty cash COIF Charity Fund Deposlt on new mlnlbus Prepayment5 & debtors Stock Total Current Assets LESS CURRENT LIABILITIES Creditors and accrua15 Net Current Assets 8,982 15,203 787 4,798 91,330 141,801 148,119 8.878 4.201 300 4,586 879 172 238 257 626 825 91 NET A55ETS Repres¢nted bv: Unrestrlcted General Revaluatlon Reserves 90,582 81,559 442 281 RestrScted Minibu5 Eel House Arthur Stowell AITe5ford Museum Hardship fun(J Avenue fund 145,042 6,767 1.586 28,801 3,130 140,550 6,489 2.135 28,362 3,497 211896 The financial statements were approved by the Board of TrLtstees and authorised for issue on and were signed on Its behall by.. R K Gentry V Andrew Ichairl Date.. Page 15 NEW ALRESFORD TOWN TRUST STATEMENT OF FINANCIAL AcnviTIES FOR THE YEAR ENDED 31 DECEMBER 2025 2025 2024 Income Minibus operating Minibus gifts for npw bus Markets and lair5 Avenue Museum Eel House Sale items General donatlons Fire 5t3tion rent (net of ulilitiesl Membership Dividends and Interest on Invèstments Other income 15.638 8,246 12,759 2,143 1,371 869 505 5,671 2,761 75 5,786 27,798 11,301 2.830 1,764 1,034 9,589 2,654 20 7,137 Total Incorn• 56,852 64,127 EMp•ndlture Minibu5 operatlng Minibus & 8ara8e depreciatlon Markets and falfs Avenue Museum Eel House Purchase of Items for resale Arthur Stowell fund Hardshlp fund Broad Street cleanlng General insurance Posters, promotlonal rnaterlals Professional and audlt fee5 Other general expenditure 12.752 11,244 440 18,486 1,612 744 354 600 450 1.320 2,455 3,278 2,479 128 10,196 4,272 467 12.612 1,839 250 1,395 502 1,558 612 901 Total expendlture {DèficltllSurplus for the year Pagel 6 NEW ALRESFORD TOWN TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025 BASIS OF PREPARING THE FINANCIAL STATEMENTS The fSn3nelal statèments of the Trust, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accountin8 and Reportin8 by Charlties.. Statement of Recommended Practice applicable to charitie5 preparing their accounts Sn accordance with the Financial eporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191., Financial Reporting Standard 102 The Financial Reportin8 Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The flnantlal statements have been prepared under the historical cost conventlon. The accounts are prepared in sterling which is the functional Currenry of the Trust and rounded to the nearest £1 Goin8 con¢em basis The Trustees consider that there are no material uncertainties bbtsut the Trust's ability to continue as a going concern. The Trustees have given conslderation to the Trust's long-term future and consldered what rlsks Isee the Trustees, Report) could result in a sltuatlon where a 80in8 concern ba515 was not appropilate. They belleve that safeguards are sufflcient to ensure that both In the short and medium term the assets and reputatlon of the Trust are sufficiently safeguarded to ensure that the Trust is a viable going concern. CrltStal atcountlngJudgements and key sources of estlmatlon uncertalntv E5timate5 and judBements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are bellèved to be rèasonable under the circumstances. Key accountlng estlmates The Trust rnake5 estimate5 and assumptSons concernlng the future. The re5uliinB accountinR estimatlon wlll be unlikely to equal the related actual re5uIt. The Trust has not identllied any estimates and assumptions that have a si8nillcant risk ol causln8 a materlal adjustment to the ¢arrying amounts of assets and liabilities within the next flnanclal year. Stock Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow.movlng Items. Income All incoming resources are included in the Statement of Financlal Activities under FRS102 when that recelpt Is probable, and the amount can be quantified with rea50nable accuracy. Should any legacie5 be received, entitlement wlll be the earlier of the Trust being notified of an Impendlng dlstribution or the le8acy bein8 received. Gifts in kind, includin8 donated profe55ional services are recognised as income when the Trust has control over them, any condltions assoclated with the donated item have been met, the receipt of economic benelit from the use of by the Trust if the Item Is probable and that economic benefit can be measurèd reliably. In accordance with the Charitie5 SORP IFRS1021, the generHI volunteered tlme Is not recognised. On receipt, donated professional Services are recognised on the b3515 of the value of the gift to the Trust which 15 the amount the Trust would have been willlng to pay to obtain that Service on the open market. Gift5 in kind donated lor distribution would be included at fair value upon receipt under FRS102 subjett to the cost of recognition outweighing the benefit provided to the Trust. ADV donated facilities would be Included at the value to the Trust where this could be quantified. and a third party is bearing the c05t. No arnounts are Included in the financial staternents for services donated by volunteers. Page | 7 NEW ALRESFORD TOWN TRUST NOTES TO THE ACCOUNT5 FOR THE YEAR ENDED 31 DECEMBER 2025 Exptndtture Llabilitle5 are recognlsed as expenditure as soon as there Is a legal or constructive obligation committing the Trust to that expenditure, it is probable that a transfer ol economic beneflts will be required in Settlement and the amount of the obligation can be measured rellably. Expenditure 15 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where cost5 cannot be directly attribuled to partlcular headings, they have been allocated to 3¢tivities on a basis con515tent wlth the use ol resources. Tanglble lixed assets Depreclation is provided at the following annual rates In order to wrlte off each asset over its estimated useful Clock- IO% straight line Old mlnlbus- 25% reducing balance basls New mlnlbus- 12.5% reduclng balance ba515 Garage extension- 20 years stralght Ilne Fixture & flttSngs- 25% reduclng balance basls Government grants Government grants In relation to tangible li¥ed asset are credited to the profit and loss account over the useful lives of the related assets, whereas those In relatSon to expenditure are credlted when the expenditurè Is charged to the Staternent of Flnanclal Actlvltv. Herlta8• aSWts Horltago assets are recognSsed at their faSr value If It can be determlned relSably and at a cost commensurate with the benefit obtained. Fund accountlng Unrestrlcted funds Can be used In accordance with the charltable oblectlves at the dlscretlon of the Trustees. Restricted funds can only be used for partlcular restricted purposes wlthln the objects of the Trust. Restrlctlon5 arlse when specified by the donor or when funds are raised for particular restricted purposes. FLbrther explanatlon of the nature and purpose of each fund is Included In the notes to the flnanclal statements Governanc¢ costs Governance c0515 comprlse all costs Involvln8 the public attovntablllty of the Trust and its compllance wlth regulations and good practice. These c05ts include costs related to the independent examination, lÈgal fÈes and apportlonment of overhead5. I) TRUSTEES. REMUNERATION AND BENEFITS There were no Tru5tee5' remuneratlon or other beneflts for the year ended 31 December 2025 nor for the vear ended 31 December 2024. Trustees, expenses Durin8 the year Trustee5 incurred expenses on behalf of the Trust totalllng £1.686 12024- £nlll. These were all reimbursed during ihe year. 21 COIF CHARrrY FUNDS The Trust holds 7,298 Income Units for the long tèrm wlth a market value a5 at the year-end of £141,801 12024- £148,119). Page18 NEW ALRESFORD TOWN TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025 31 FIXED ASSErs Clock Mlnibuse5 Garage Fixturès & tlttln85 Old Fire Stat5on Total Cost As at l January 2025 Additions Disposals As at 31 December 2025 5,941 118,298 88,885 11,883 1,192 250,IJOO 387,314 88,885 036 147 L9 11883 250 000 41 Depreclatlon As at l January 2025 Charge Disposals As at 31 December 2025 3,504 600 92,348 10,650 59 8,906 594 389 105,147 11,844 482 389 Net book value As at 31 December 2025 As at 31 December 2024 41 HERITAGE ASSETS al The Trust owns the rlghts to all Income from the use Imabnly Markets and Fairs) Sn Broad Street. Thè Trustees value th15 hÈrltage asset at £112024 £116,300). Pava8È charter rights for Broad Street were revalued to a £1 as havin8 no resale value. Thls was agreed at the Trustees meetlng held on 7 October 2025. bl Thè Trustees a150 own other herltage as5et5, which currently do not produce Income namelv.. The ownership, includln8 the rlghts of way. of The Avenue to Drove Lane 99-year Lease on the Eel House. Ancient documents, Artelacts and ma￿$. Mugeum artefacts, fixiure5 and Ilttlngs. The Trustees have valued these herltage assets at £112024- £11, 5} CAPITAL AND REVALUATION RESERVE The Reserve a5 at the year-end is made up as follows.'_ Propertv COIF 213,302 Page 19 NEW ALRESFORD TOWN TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025 6} ANALYSIS OF FUNDS FOR YEAR General fund Eel Housè A.S. fund Minibus fund Museum fund Hardship Avenue fund fund Totsl Openin8 Balance 81,559 6,489 2,135 140,550 28,362 3,497 30,863 293,455 Income Expenditure 22.475 1,023 745 51 600 28,489 2.051 83 450 2,680 S6,852 342 Closing balance 8D The Income above Includes the apportionment of dlvldends and Interest on investments received. 71 RELATED PARTY DISCLOSURES There were no related party transactlons for the year ended 31 December 2025, nor for the year ended 31 December 2024. Pa8e | 10 NEW ALRESFORD TOWN TRUST Responsibilities of the Trustees for the year ended 31 December 2025 The Trust requires the Treasurer to prepare fin3nclal statements for each financial year which give a true and lair view of the state of affalrs of the Trust and of the surplu5 of the Trust for ihat period. In preparing those financial statements, the Treasurer on behall of the Trust has.'_ Selected sultsble account policies and applled them con51stently Made jud8ments and estimates that a￿ reasonable and prudent. Followed applicable accounting standards. Prepared financial statements on a going ujncem basis. The Treasurer and Trustees are responsible for keeplng proper accounting records which dlsc105e with reasonable accuracy at any tlme the flnanclal position of the Trust, the Trustèes are 3150 responslble for safeguarding the assets of the Trust, and hence for taking reasonable steps for the prevention and detection of fraud and other Irre8ularltles. P3ge 111 NEW ALRESFORD TOWN TRUST Independent Examiner's Report to the Trustees of The New Alresford Town Trust I report to the Tru5Y5 Trv5tees on my Examinatlon of the accounts of The New Alresford Town Trust I'the Trust'l for the year ended 31 December 2025. Re5ponslbllltles ao)d basls of report As Trustees of the Trust you are responslble for the preparation of the accounts in accordance with the requirernents of the Charities Att 20111'the Act'l. I report In respect of my Examination of the Tru5t'5 accounts carried out under section 145 of the Art, In carrying out my Examination I have followed all applicable Direclions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examlner's statement I have completed my Examinatlon. I confirm that no materi31 matters have come to my attention In connection with the Examlnation whlch Bives me cause to believe that In. any materlal respect.. accounting re¢ord5 were not kept In respect of the Trust as requlred by section 130 of the CharStie5 Act; or the accounts did not accord wlth those records,. or the accounts did not comply with the applicable requirements concernln8 the form and coritent of accounts set out In the charl￿e5 (Accounts and Reportsl Regulation5 2008 other than any requlrement that the account5 give a 'true and falr, view whlih is not a matter considered as part of an Independent Examinatlon. I have no concerns and have come across no other matters In connection wbth the Examinatlon io whlch attention should be drawn In th15 report In order to enable a proper understandin6 of the accounts to be reached. A G Case FCCA, Independent Examiner Butler & Co Alre5ford Limited Chartered Accountants The Old Stables Sutton Manor Farm Bishop's Sutton Alreslord Hampshire S024 OAA Date.. Page | 12