THE SAMUEL SMITH'S AND SPENCER'S CHARITIES For the year ended 31 December 2025 ACCOUNTS Registered Charity No. 240936 THE SAMUEL SMITH'S AND SPENCER'S CHARITIES OFFICERS AND ADVISERS For the year ended 31 December 2025 TRUSTEES J S F Grindlay R G W Caldicoll R M B Kenyon Dr R J Ballantine G T W Foottil I W Simpson Rev P Howell S J Pannell P J Moorcroft J E Sarginson (Resignèd 26102120251 (De￿ased 0111212025} Acting Trustee IResigned 31110120251 (Appointed 3011012025} (Appointed 30110120251 STOCKBROKERS ACCOUNTANTS Quilter Cheviot Two Snowhill Bimingham B4 6GA HB&O Limited Seven Stsrs House, 1 Wheler Road Coventry CV3 4LB SOLICITORS BANKERS Mander Hadley 1 The Quadrant Coventry CV12DW HSBC PLC 5-6 High Street Coventry CV1 5RE CLERK ALMONER Mrs E A Martin Miss M D Gibbs THE SAMUEL SMITH'S AND SPENCER'S CHARITIES ACCOUNTS For the year ended 31 December 2025 Page Annual Report of the Trustees Independent Examiner's Report Statement of Financial Activities BalanTr Sheet Notes on Accounts THE SAMUEL SMITH'S AND SPENCER'S CHARITIES ANNUAL REPORT OF THE TRUSTEES For the year ended 31 December 2025 The financial statements have been prepared in accord3n¢e with the ac¢ounlifTrg polieies set out on page 6 and comply with the ohaiily's Trust Deed, the Charities Act 2011 and the Slalemenls of Recommended Practice,. Accounting & Reporting by Charities 2005. structure, Govemance and Management Samuel Smith's Charity and Spen¢e¢s Charity merged on 7 August 2014. The charity Is unincorporated and consliluled by the Will of the late Samuel Smith which was proved on 20 October 1730. It is a registered charity, number 240936 and the principal scheme was sealed on 12 March 1979, with variations sealed on 25 September 1997 and 7 August 2014. When there is a requirement for new trustees, these are identified and appointed by the existing trustees. The Iru51ees meet three times a year lo consider grant making, investments and reserves. The day to day adminislralion of grants and the process of handling applications is dealt with by the A¢ting Trustee and the management team consisting of the Almoner and Clerk. Trusteès The trustees of the charity during the year were.. J S F Grindlay G T W Foollit I W Silnpson J E Sarginson R M B Kenyon R G W Caldicott S J Pannell Dr R J Ballantine Rev P Howell P J Moorcroft Oble¢ts and A¢tlvitie$ The principal objects of the charity are.. To pay pensions to needy persons who are resident in the City of Coventry and the Parish of Bedworth. To make payments to persons resident in the said city for relief in need. Grant making policy The charity invites applications from any person in need of lillancial support and who is resident in the City of Coventry. Suitable applicants are added lo the pensions list and receive a pension when a vacancy arises or funds become available. Achievèments and performance During the year the charity paid £46,665 10 56 pensioners12024- £44,400 to 53 pensioners) and made other charitable gifts and payments totalling £9,37912024- £8,255) as shown in the Slalemenl of Financial Activities. THE SAMUEL SMITH'S AND SPENCER'S CHARITIES ANNUAL REPORT OF THE TRUSTEES For the year ended 31 December 2025 Publlc B&n&fit The Iruslees confirrn that they have referred to the guidance contained in the Charity Commission's General Guidance on public beneffil when reviewing the Charity's aims and objectives and setting the grant making policy for the year. Financlal R&vi&w The charity is reliant on the income from ils investments, which was £65,85812024 £65,345). Investment Policy The Iruslees, investment policy is to obtain a reasonable long term overall relurll al a moderate level of risk with no restrictions on inveslmenls. Investments are made by the charity's investment manager under a discretionary mandate using the guidelines of the investment SLJb committee. Rasèrvas Policy 11 is the Iruslees, polioy lo maintain a level of reserves so as lo Continue to receive sufficient income from investments to support planned future aclivilies. On behalf the board of Iruslees impson Acting Trustee for 2025 THE SAMUEL SMITH'S AND SPENCER'S CHARITIES INDEPENDENT EXAMINERS'S REPORT For the year ended 31 December 2025 We report on the accounts ol The Samuel Smith's and Spencer's Charities for the year ended 31 De￿mber 2025 which are set out on pages 4 to 9. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the piepsralion of the accounts. The charily's trustees consider thal an audit is not required this year under section 144{21 of the Charities Act 2011 Ilhe 2011 Act) and that an ind&pèndent examination is needed. 11 is our responslbility to.. examine Ihg a¢¢ounts under section 145 of the 2011 Act., follow the pro¢eduie5 lald down in the general Directions given by the Charity Comrnission under section 14515llbl ol the 2011 Act,. and slate whether particular matters have come to rny allelllion Basis of independent examiner's rèport Our examination was cairied out in accordance with the general Directions given by the Charity Cornmission. An examination includes a review ol the accounting records kept by the ohaiily and a comparison of the aeeounts presented with those records. 11 also inGludes collsideration of any unLJsual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such mallers. The proceduie5 undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts piesenl a'true and fair vievl, and the report is limited to those matters sel out in the slalements below limited to those matters set out in the statement below. Independent examiner's statement In connection with our examination nc> matter has Gome to our attention which.. 11 Gives u5 reasonable cause lo beliève that in any material respect of the requirements.. to kèèp aeeounting records in accordan￿ wilh Section 130 of the 2011 A¢l.' and to prepare accounts which accord with the accounting records and to cc>mply with the accounting iequiremellls of the 2011 Aet. Have llol been mel., or 2110 which in our opinion attention should be drawn in order lo enable a proper understanding of the a¢¢ounls lo be reached. HB&O Ltd Chartered Accountants & Business Advisèrs Seven Stsrs House I Wheler Road Coventry CV3 4LB THE SAMUEL SMITH'S AND SPENCER'S CHARITIES STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2025 Accumulated Incomè fund EMdow- ment fund Designated fund Total 2025 Total 2024 Notes InctsmÈ and endowments Income ffom Investments Ren121 income Inleresl iecepiable OlhÈr incom& 65,858 819 512 335 85.858 819 512 335 ,345 275 499 Total Incoming resources 67.524 67,524 66,119 other exp8ndltur8 Fundraising costs Cost of g&n8raling funds Stockbrokers fÈÈs Charitable 8xpendilure Pensions Olh8r charitable gifts Support tosts Charitable activities 12 46,665 9,379 18,836 2,874 46,665 9,379 18,836 44,400 8,255 19,184 2,773 Total resource5 expended 77,754 77,754 74,624 Net incomellexpenditurÈl befo￿ other recognis8d galns and losse5 110,2301 110,2301 18,5051 Prof(Vllossl on Invostment assets Realised Unr8alis&d 877 171.122 170,245 118,782 Net movement in funds 110,2301 18771 171,122 160,015 110.277 Balance at 1 January 2026 164,075 306,361 1,827.804 2,298,240 2,187,983 alance at 31 Decembpr 2025 153,845 305,484 1,998,926 2,458.255 2,298,240 THE SAMUEL SMITH'S AND SPENCER'S CHARITIES BALANCE SHEET For the year ended 31 December 2025 Notes 202S 2024 Flxed assets Tangible fixed assets Inve8lmenls 80,158 2,389,824 80,158 2,189,379 2,439,782 2,269,537 Current assets Cash at bank and in hand 20,628 30,739 20,628 30,739 Creditor$.' amounts falling du8 Within one y88r 12,1551 12.0361 Net current a8sets 18,473 28,703 Total a55ets less current liabilities being total net assets 2,458,2SS 2,298,240 Endowment fund 1,998,926 1,827.804 Unrestricted funds Accumulated incom8 fund Designated fund 153.845 305.484 164.075 306,361 2,458,255 2.298.240 Approved b the Trustees and authorised for issu8 on and si9ned on their behalf by Iwsim 8on Actlng Trustee for 2025 THE SAMUEL SMITH'S AND SPENCER'S CHARITIES NOTES ON ACCOUNTS For the year ended 31 December 2025 Prln¢ipal Accounting policies Accountillg convention The accounts are prepared under the historical cost convention las modified by the in¢lLJsion of investments al market value). In preparing the financial slalemenls the charity follows best practice as laid down in the Statement of Recommended Practice Accounting and Reporting by Charities ISORP FRS 1021 and the Charities Act 2011. Incoming re50ur¢es Donations, legacies and grallts ￿CeIVable are accounted for as soon as their amount snd re¢eipt are reasonably certain. For unsolicited donations this is when received. Resources expended Liabilities are recognised 8$ resources as soon as there is a legal or constructive obligation commilling the charity lo expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related lo the category. Governance comprises the costs ol running the charity itself as an organisalion. Tangible fixed assets Tangible fixed assets are slated in the balance sheet al cost. Investment assets Investments are staled al mid market value al Ilie balance sheet dale. Any gain or loss on revaluation is taken lo Slalemenl of Financial Activities. InGome arising on investments is accounted for when due. Endowment fund The endowment fund incorporates the hislori¢al permanent endowment fund and the freehold property fund with effect from 1 January 1997. The Freehold Property fund was Created from the proceeds of the sale of 17-18 High Street, Coventry and 1,2 & 3 Hay Lane, Coventry which was sold on 6 May 1994 for £495,522. Income is available for general purposes. Designated fund The Designated fund was established for the purposes of purchasing additional land and improving, rebuilding or converting any buildings on 5u¢h land with the approval of the Charity Commissioners. THE SAMUEL SMITH'S AND SPENCER'S CHARITIES NOTES ON ACCOUNTS For the year ended 31 December 2025 Icontinuedl 202$ 2024 Other charÈtable gifts May gifts Cash paymenls in lieu of coal Chri8tmas gifts to P8nsioner5 Bibles Relièf in N&ed 1,500 1,800 4,275 304 1,500 1,650 1,800 4,125 180 500 9,379 8.255 Support Costs Clerk Almoner IT capital c051s & support Insurance Po8lage and poundage ststionery and sundries Bank faes New minute book Writing up minute book 10.500 4,750 2,090 681 10,(K12 4,491 1,440 707 76 345 155 1,968 139 100 18,836 19,184 Charitable activit185 Independent exsminer5' fee Trustees rneeting5 and room hlre 2,209 665 2,085 688 2,874 2,773 No tru8t8e received any remuneration during the year THE SAMUEL SMITH'S AND SPENCER'S CHARITIES NOTES ON ACCOUNTS For the year ended 31 D&c8mbor 2025 {oontinued} Tanglble fix•d assets Freehokj land al Duggins Lane. Tile ￿111, Cov8nlry Cost Th8 charity purchased the freehold land on 29 June 1995 and in Ihe opinion of Ihè trustees its current markel value is not materially differefjl from the amount reflected In the accounts. Flxèd 8880t Invesments 2025 2024 QL¢Otod Investments Market v4lue al 1 January 2025 Purchases 81 cost Dlsposals al market value blfv (Decreaselllncrease in c88h awaiting iDveslFnenl Unrealised gainl Ilossl in the year 2,189,379 2.070.586 2,073 12,0621 118,782 170,245 Market value at 31 December 2025 2.359 624 2,189,379 Historical cost al 31 DecÉmbtr 2025 1,943,4e7 1943,479 2025 Market value 2024 Marktrt valuo Endowmentfund C05t C05t 903 COIF Incotne shar8S 1.550,81111.549,4501 Quilter Invrs CharilyAulh Inv Fds QC Glob81 Income Cash awaiting investment 17.441 1,930,759 504 1.786 1.600.206 504 18,318 1,7B9,636 504 1,786 1.600,206 504 Total 1.948.704 1,602,496 1.808.458 1,602,496 2025 2024 Market Value Markot Value Deslgnattrd fund- Reserve fund Cost Cost 329,6541329,2001 Qulller Invrs CharityAuth Inv Fd8 QC Global Income Cash awaiting investment 410,420 500 340,470 500 380.421 500 340,470 500 Totsl 410,920 340,970 380,921 340,970 Total Ilxgd asset invèstmonts 2,359,624 1,943,466 2,189,379 1,943,466 THE SAMUEL SMITH'S AND SPENCER'S CHARITIES NOTES ON ACCOUNTS For the year ended 31 December 2025 (continued) Analysi5 of assets between funds Accumulated income fund Designated Endowment lund fund Total fund5 Fund ts31an¢es at 31 December 2028 are represented by.. Tangible fixed ass818 Inveslm8nls 80.158 1,948.704 129.9361 80.158 2.359.624 18.473 410.920 1105.4361 153,845 Total net a5$ets 153.845 305,484 1,998,926 2,458,255