Charity No.. 241187 The Lady Forester Trust TRUSTEE'S REPORT AND FINANCIALSTATEMENTS FOR THEYEAR ENDED 31 D+￿m￿¢r 2025 WR Partners The Lady Forester Trust Contents Page Relerence and Admln15tratlon Trustees. report Independent examlners report Recelpts and payments account Statement of assets and Ilabllltlos Notes to the financlal statements The Lady Forester Trust Reference and Administrative Details For the Year Ended 31 December 2025 Trustees The Rt. Hon. Catherine, Lady Fwester oi (resigned 17 March 20251 The Hon. Mrs A.S Stoker MSIIDIPI, Chair Mrs H.E. Collinson, R.G.lQ Mr H. Carpenter, Vlce Chairman The Rt. Hon, Lord Forester The lady Forester MRICS MFS J. 5tev4art Major C.J. Whitaker Ms K Thorn (appointed 17 Marth 20251 Charlty reg151ratlon numbér 241187 Prlnclpal office The Estate Office Willey 8roselev Shropshire TF12 51N Accountants WR Partners Chariered Accountants & Statutwy Audiors Belmont House Shrewsbury Buslness Park Shrewsbury ShTOP5hire SY2 6LG The Lady Forester Trust Reference and Administrative Details For the Year Ended 31 December 2025 Investment Mana8ers EFG Harris Alldav 33 Great Charles Street Birmingham 83 3JN Sarasin & Partners LLP Jvxon House 100 St. Paul's Churchyard London EC4M 8BU The Lady Forester Trust Trustees. Report For the Year Ended 31 December 2025 The Trustee5 5ubrnit their annual report and rhe financial st3ternents of The Lèdy Forester Tru51 Ilhe charityl lor Ihe year ended 31 Detember 2025. The Trustee5 conli¥m that the ant)ual report ènd financial staiemenis of the charty cofflply wilh currenr statU￿ry requlrements and the requirernen15 of the charity'5 governinÈ document. Stru¢iure. governance and management Constilvtion The Lady Forester Trust Is constituted undÈr a tiu&t deed dated 9th january 1979 and i& a registered chafily Ino.- 2411871. Method of appolntment or elettion ol tTUStee$ The management of the charitv 15 the re5kwsibility of the Tnjstees who are elected and cts-oplpd undÈr the terins of the Trust deed. The Trustees are appoiniÈd by the l)oard of Trustees and serve for h've yearsafter which pernd they mèy put them5elve5 furwaid lor re- appoilliment. The body of trustee5 shall con515t, when complete, of eF¥ht competent persons and rhere shall be a qUOTum when three Trustees ie at a meetlng. The Trustees (neet quarterly to a55e5s erant èppllcations and to hear the repon 3nd investment T&iorDmendation5 frotn the InvÈstrnent manèger. R15k rnan&¥ernent The Trustees have assessed the major ii5ks to which the charityls exposed, in particular Ih05e relaied to the opefaiions and fTrnantEs of the Charity, aNd are satisfied thai 5VStetn5 are In place to mana8e their exposure to the major risks. Objectlve5 and actlvltles Politiesand objectlves The objeciives of the charity are 10 èlleviate the 5ulferlng or assisr ihe recovery of persons who are 51ck, convalesceni. d15abled. handlc3pped oi infirm where lielp is not reèdily available to Ihem ffom Other sources.- flrstly to the Inhabitants of the ancient Borough of Wenlock and then to Ihp inhabitants of the Couniy ol Shropshlre. Grant makln8 pollcles The Charlty Invites applicatlons from IndividuJ15 and other insiiiutions. ThÈse appllcatlons are reviewed and dlscussed at the TrustÈe'5 rneeting ofi a quarterly basls, where gran15 are approved or refused. Applltatlons are rereived from Gp's, Soclal Workers ènd other health profes5ioTra15 on behalf ol individuals. Charit&ble institutlons also appreach IhÈ Iharlty fof grants alihou8h the Trustees will tDnsider making grant5 to oiher charitable institutions who do not contact them directW. The Trusiee5 have eiven due regard to the Charity Comm15sion'5 revised gtsSdanie in respeci of public benefit and have Coniinued 10 cbrry aut IhÈ approprkHte Brant mèking wllcy. The Lady Forester Trust Trustees, Report For the Year Ended 31 December 2025 Athlevements and pèrformance GolnR cOn￿rn After maklng appropriate enquiries. the trustees have a reasonable expectation that rhe charity has adequate resources to continue in operational exlstence for the foreseeable future. FOT this reason they continue to adopt the going concem basis In preparing the financial ststements. Review of actlvltle5 The Trustees received application5 for grants from individuals. relevant medicèl professional bodies, other or8anisations and charitable trusts. A total of £175,56712024.. £192,452) was paid out during the year. Investment pollcy and performance The investtnents are held for the purposes of furthering the object*ves of the chafity. Investments ère held between two investment management companies- EFG Harris Allday and Sarasirb. EFG Harr15 Alldays rhe charity has an investment policy that no more thèn 5% of the investment should be in any equity, excluding Governrnernt stocks and collective investments. The investment manager reports to the Trustees quarterly and the Investments are rnana8ed by EFG Hairis Allday on a discretionary basis wlth his recommendations on investment. He 15 3150 In correspondence wlth the Chalrman betweet) meetlngs. In addition, consultations fflay be held between the Chairrnan 01 Vice Chairman. on behalf ol the Trustees, and ihe Trustee5 are notified accordingly. Sarasln The charity seeks to balance the needs of current and future beneficlaries, providing a reasonable level of Current incorne whi15t maintaining the value ol the capital and income in real terms (after inflationl. To achieve this. the Trustees Invest in a balanced multi-asset portfolio. Equities form the Core ol the strategy to provide long term real growth whilsr bonds, propertv and alternative assets provide diversrfication and return5 which are uncorrelated to equities. The Trustees implemenl the strategy by Investing in the Alpha Common Investment Fund fof Endowments which 15 rnanaged by Sarasin & Partners LLP. The Lady Forester Trust Trustees, Report For the Year Ended 31 December 2025 Financial revièw Resèrves pollcy In accordance with the terms of the trust deed, the income generated hès been allocated to the ￿nCorne fund which stands at £68,253, whilst investment5 and their movement5 have been allocated to the capitsl fund which stands at £6,826,466. This year the movement in the accounts ha5 included a transfer fToKn the income fund back Into the capital fund. Whilst both funds are unrestricted can be utilised for the objective5 of the charity. the Trustees only distribute income and the accumulated income fund is left to accumulate. The accumulated income fund has historically been held fof emergency funding of major project5. Capital movements are left to enhance the capital value of the investments and hence to ensure that the Chèrity will have income to dr5tribute in future yea{5. There Ss a surplus in free reserves Ibeing unrestritted tncorne funds, as defined in the Ae5erves Policy) of £68,2S312024.. £IS6.9461. The Trustees, reserves policy is to maintain free reserves at a level equivalent to nine months expenditure. Wh115t the freE re5erve5 figure is significantly below this target. the Trustees acknowledge that cash balanees within the investmenr portfolio can be drawn upon. should the need arise. 8a5is of at¢ounting The accounts of the Charity have been prepared on a Receipts and Payments basis in accordance with tharity regulètions. This repo was approved by the Trustees on IJ cTL7A e Zo and signed on their behalf bv.. The Hon. Allte Stoker Chalrman The Lady Forester Trust Independent Examiners Report For the Year Ended 31 December 2025 I report to Ihe charity trustees on my examination ol the accounts of the Trust for the year ended 31 December 2025 which are set oul on pages 6 to 8. This report is made 501ely to the charity's Trustees, as ? body, in èccordance with section 145 of the Charities Act 2011 and reF,ulations mad@ under section 154 of that Act My work has been undertaken so that I might state to the tharity's Trustees thD5e matter5 1 am required to state to them in an Independent Examinerfs Report and for no other purpose. To the fullest e.'