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2025-12-31-accounts

Charity registration number: 244823

The Earley Charity

Annual Report and Financial Statements for the Year Ended 31 December 2025

The Earley Charity

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 13
Independent Auditors' Report 14 to 17
Statement of Financial Activities 18
Balance Sheet 19
Cash Flow Statement 20
Notes to the Financial Statements 21 to 32

The Earley Charity

Reference and Administrative Details Trustees R E Ames, Chairman Dr D C Sutton, Vice Chairman P R Hooper Dr D G Jenkins T Maher E A Terry M C Waite Dr R J Cocks Charity Registration Number 244823 Principal Office Earley CResCent Resource Centre Warbler Drive Earley Reading Berkshire RG6 4HB Auditor Vale & West Accountancy Services Limited Chartered Accountants and Statutory Auditors Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG Solicitors Field Seymour Parkes LLP 1 London Street Reading Berkshire RG1 4PN Bankers HSBC 26 Broad Street Reading Berkshire RG1 2BU CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

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The Earley Charity

Trustees' Report

The trustees present their report with the financial statements of the Charity for the year ended 31 December 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Objectves and activites

Objectives and aims

The Earley Charity is a grant making trust with an area of benefit local to Reading described as the Ancient Liberty of Earley and the neighbourhood thereof. This provides a population of benefit potentially in excess of 150,000.

The object of the Charity shall be to further all or any of the following charitable purposes:

• the provision and support (with the object of improving the condition of life for the inhabitants in the interests of social welfare) of facilities for recreation and other leisure time occupations;

• the provision and support of educational facilities for the inhabitants;

• any other charitable purpose for the benefit of the inhabitants.

Significant activities

The objects are achieved through grant making to local charitable, voluntary and community groups, as well as to individuals living within the area of benefit. Grant making activities are broken down into the following programmes:

• Earley Charity Workers - to fully fund a worker at identified key voluntary sector organisations.

• Community Learning and Activity Programmes - to fund accredited training courses for the voluntary sector and learning and activities for the community.

• Earley Charity Partner Grants - on-going partnership funding which may be renewed annually subject to satisfactory reporting.

• Grants to Organisations - project funding to support local charitable, voluntary and community groups.

• Trustee-Led Grants - trustees may propose one or more organisational grants per year up to an agreed value on the basis of their own knowledge of local voluntary, community, sporting or cultural organisations.

• Capital Projects Grants - an occasional programme to support organisations with new build, extension and large-scale refurbishment projects that improve local third sector infrastructure.

• Douglas Chilvers Memorial Bursary - to support music and performing arts related activities for individuals and organisations.

• Grants to Individuals - for the relief of need experienced by individuals, including assistance to pursue further education.

• Care Leavers Independent Living Grants - to support care leavers’ transition to independent living.

Public benefit

In following the Charity’s aims and objectives, the trustees have regard to the Charity Commission’s published guidance in complying with their duty in section 17(5) of the Charities Act 2011 on Public Benefit. All the charitable aims and all the charitable activities of The Earley Charity are for the public benefit as defined and described in the Charity Commission’s guidance Charities and Public Benefit.

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The Earley Charity

Trustees' Report (continued)

Grant making

The trustees have a grant making policy to achieve the Charity’s aims for the public benefit. The public benefit of The Earley Charity’s charitable aims can be described under 3 headings: general aim, current priorities, and occasional benefits. In the terminology of the Charities Act, the general aim of The Earley Charity is relief of need. This is explicit in all the Charity’s governance documents, and the widest possible interpretation of “need” is allowed for. The Charity’s current priorities include the relief of need by reason of age and the advancement of the arts, culture and heritage. Other charitable purposes as defined by the Charities Act which are occasionally met by The Earley Charity include the relief of poverty; the advancement of education; the advancement of health; the advancement of community development; the advancement of amateur sport; the advancement of environmental protection or improvement; and the relief of need by reason of ill-health or disability.

Grant applications are welcomed from individuals living permanently in the area of benefit who are experiencing need. Grants to individuals are generally up to a value of £500 but in exceptional cases, grants of up to £1,000 may be made if it is considered that there is a greater need for support, for example, setting up home. Separately, through the Care Leavers Independent Living Programme, grants of up to £1,000 are made to young people leaving care and setting up their first home.

Local charitable, voluntary and community groups, especially where the beneficiaries are likely to be aged, disabled or poor, are able to make grant applications for funding for specific projects.

All applications need to comply with the objects of the Charity for a grant to be approved.

Volunteers

None of the Charity’s activities are carried out by volunteers.

Achievement and performance

Charitable activities

The Earley Charity’s grant making is wide ranging and has a significant impact on the lives of many people in the area of benefit. This can be through the direct support of the relief in need programme that helps families and individuals with items that improve their living conditions, health and well-being, or the many projects delivering services, activities and opportunities to disadvantaged communities across the area of benefit that are funded by an organisation grant. More broadly the funding to organisations helps to create and maintain a strong, vibrant local voluntary sector for the benefit of the wider community.

In 2025 the trustees awarded 90 grants totalling £961,658. Of these 44 (2024: 41) were grants to individuals and 46 (2024: 57) were awarded to organisations.

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The Earley Charity

Trustees' Report (continued)

Grants to individuals

A total of 44 grants (2024: 41) were awarded to individuals across 2 grant programmes as follows:

Relief in Need

Number of grants awarded: 39 (2024: 34) Amount awarded: £16,454 (2024: £14,542)

The Relief in Need programme supports families and individuals in financial hardship to buy essential household items and appliances that they would otherwise be unable to obtain. During the year 39 grants were awarded totalling £16,454. These grants directly supported people to obtain or replace kitchen appliances, sofas, beds, dining and bedroom furniture.

Care Leavers Independent Living Programme

Number of grants awarded: 5 (2024: 7) Amount awarded: £3,929 (2024: £6,288)

This programme is open to referrals from both local councils with grants up to £1,000 available to support young people leaving care to transition to independent living. Grants totalling £3,929 enabled 5 young people to buy furniture and equipment for their new home to give them a positive start to independent life.

Grants to Organisations

Number of grants awarded: 46 (2024: 57) Amount awarded: £941,275 (2024: £1,021,788)

A full list of the awards made to organisations in 2025 can be found in the notes to the Financial Statements.

Community Centres

The trustees’ commitment to the advancement of community development remains a significant priority. Two local community centres - Earley CResCent Resource Centre in Earley and Weller Centre in Lower Caversham - receive on-going support with each receiving funding through the Earley Charity Worker Scheme and support with community learning and activity programmes. Funding to the 2 centres totalled £242,000 in 2025 of which £81,577 was for the Earley Charity Worker posts and £160,423 for community learning and activity programmes. This continued support recognises the valuable contribution community centres make to their local communities and the importance of free and low cost community learning and activity opportunities to empower the communities they serve. The programme funded at Weller Centre provides activities for people aged 0 to 110 covering Health & Wellbeing, Young People and Families, Employment and Skills, Volunteering and Community Learning & Development. The key target areas for 2025 were warm space provision, early years provision and mental and physical health. Over 2,400 people were seen across all activities. At CResCent the Community Learning grant enabled the Centre to run 95 workshops over 5 projects covering Employability, Supporting Vulnerable Adults, Engaging Families, Empowering Community and Supporting Volunteers with a total of 756 enrolments. Over half the workshops (51) were on the Employability Programme supporting 334 job seeking learners. Ten accredited courses delivered Emergency First Aid to support voluntary sector organisations with 106 new learners receiving a certificate for their successful completion of the course.

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The Earley Charity

Trustees' Report (continued)

Earley Charity Worker Grants

Established in 2000, the Charity’s ‘Earley Charity Worker’ scheme funds one worker in each of a number of key voluntary sector organisations in the area of benefit and provides job security by guaranteeing the funding into the future over a rolling 3-year period. Five roles are funded through the scheme. These are the Association Manager at Earley CResCent Centre, Community Learning & Development Manager at Weller Centre, Operations Director at Berkshire Women’s Aid (BWA), Centre Manager at Reading International Solidarity Centre (RISC) and the Advice Manager at Reading Voluntary Action (RVA). Trustees were delighted to learn that RVA was awarded the NAVCA Local Infrastructure Quality Accreditation (LIQA) in 2025. The independent assessor commented that the Advice Service function is impressive and offers unique services with a strong focus on smaller local groups, delivering its work in an inclusive and responsive way. In total £230,059 (2024: £229,469) was approved for 2025 and all 5 grants were extended for a further year to the end of 2027.

The purpose of the Earley Charity Worker scheme is to provide local voluntary sector organisations with key personnel who can work to create an equal and fair society by:

• directing activity as much as possible towards those experiencing distress and hardship;

• supporting professionals working with the dispossessed and those in need;

• making best use of resources by encouraging partnership working and creating opportunities for people to share knowledge, experience and resources.

Creation of Earley Charity Worker posts is undertaken proactively by the trustees following extensive research and applications for this purpose are not accepted.

On-going Partnership Funding

The trustees continued to fund 8 projects through the Earley Charity Partner programme. Partnership grants of up to £15,000 a year are awarded to support projects that are closely aligned with the trustees’ priorities. A total of £118,620 (2024: £124,231) was approved in support of the 8 projects. These were:

• A programme of community music performance events run by Readipop at community centres and hubs. The activities prioritise young people and those with the least resources, access and greatest need to develop personally and professionally. Over 600 people participated in the various events with attendees developing improved social interaction skills, greater focus and enhanced self-expression through music-making. The sessions provide a valuable opportunity for relaxation, connection and community support in an inclusive and welcoming environment. One comment made at an event in a school was: “We’ve had students hear the drumming, ones that don’t do music, and ask to get involved”.

• A community basketball programme in local primary and secondary schools and at the Weller Centre run by Rockets Sport & Educational Foundation. The project provides opportunities for children and young people of all abilities to take part in sport, develop skills and feel part of a wider basketball community. The sessions promote teamwork, confidence and enjoyment of the game. The 2025 programme focused on inclusivity with a girls-only roadshow to inspire girls to be more active and see basketball as an accessible, enjoyable sport, and a programme of disability assemblies in schools to educate children about disability sport and celebrate the importance of diversity.

• The Ready Friends Development Worker at Reading Voluntary Action. Ready Friends supports and encourages community groups and individuals to take social action to improve the lives of people facing loneliness and social isolation and includes a quarterly Befriending Forum offering opportunities to share stories, improve service delivery and reduce health inequalities. The Forum saw an increase in attendees with 90 participants from 40 VCOs (with a combined volunteer force of over 1,000 befrienders and 1-2-1 support volunteers) over 4 Befriending Forums.

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The Earley Charity

Trustees' Report (continued)

• A programme of intensive, personalised employability support to vulnerable and disadvantaged jobseekers run by Graft Thames Valley Ltd. Through the grant Graft engaged with 34 individuals of which 20 received direct and ongoing support. Eight beneficiaries completed their programmes, achieving positive outcomes including paid employment. With this support beneficiaries are helped to stabilise their lifestyles and progress towards meaningful and paid employment, volunteering, training and other work-related opportunities, helping them to move away from state dependency and towards self-supporting independence.

• Internships in the local charitable sector through the University of Reading Internship Scheme. The award for the 2025 Scheme funded 11 internships of 140 hours at 8 different local charities. The Internship proposals this year were of such good quality that the trustees agreed additional funding so a greater number of placements could be funded. As well as providing the Interns with valuable work experience the host organisation benefits from having a talented undergraduate join their team to work on a specific project adding value to the organisation’s work. The Scheme also provides inspiration to students to consider a career in the voluntary sector.

• Opportunities for children in Whitley to participate in a range of extracurricular activities that increase confidence, improve behaviour for learning, widen horizons and give them access to a richer variety of artistic pursuits and events outside of the school curriculum. The events run by Aspire2 included a public speaking competition held at the University, a poetry competition, a visit to the Houses of Parliament, a trip to the pantomime and workshops to create the outfits, banners and props for the ever popular Whitley Carnival. The funding enabled Aspire2 to give hundreds of children and young people experiences that build their confidence, literacy and public speaking skills while broadening their horizons through cultural and civic opportunities. In addition it ensured families, many of whom face financial and social barriers, could access high-quality educational and cultural experiences without cost being a barrier. Taking part in the events not only nurtures individual growth but also helps to strengthen community pride and cohesion by bringing people together to celebrate shared achievement.

• Free Climate Education training and resources to schools, teachers and community groups delivered by the education team at RISC. The grant enabled the RISC team to attend 11 community festivals and events and host several workshops and family events reaching over 800 young people with key messages on reducing waste and recycling, how to mitigate the effects of climate change locally and connecting with their environment. Some children were inspired to attend several events to learn more and families committed to taking positive action by using a Climate Calculator in order to reduce their carbon footprint.

• Reading Rep Theatre’s ENGAGE outreach and education programme of skills development workshops, projects, and performances. The funding supports delivery of year-round work that ensures everyone in Reading, particularly those from disadvantaged backgrounds and communities, can access theatre throughout their lives. Participants speak about finding their voice, feeling part of something bigger, and discovering new ways to express themselves. Over 90% of participants across all activities report improved confidence, motivation and sense of well-being. The programme also fosters community cohesion and civic pride, and helps with skills development.

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The Earley Charity

Trustees' Report (continued)

Trustee-Led Grants

Each year a trustee or group of trustees may propose organisation grants based on their own knowledge of local voluntary, community, sporting or cultural organisations. Four grants were awarded totalling £45,664 (2024: £43,600). The projects funded included a grant of £7,964 to Aisha Masjid & Islamic Centre to purchase display banners and posters for educational and outreach events to engage with local communities and foster greater cohesion and interaction, and a grant of £1,000 to fund a river trip and cream tea for 40 sight impaired members of Reading Macular Support Group. Three trustees worked together to support No5 Young People with a grant of £27,310 for a project to reduce the risk of permanent exclusion from school. The grant is funding 12-months targeted one-to-one counselling of young people at risk of permanent exclusion in 2 Reading schools with the highest number of suspensions. The project will also try to establish whether patterns emerge in the exclusion of young people across Reading secondary schools by analysing data about school exclusions more generally.

Douglas Chilvers Bursary

This £5,000 bursary grant was awarded to Parenthesis to support the continued development of Weller Voices, a Caversham based community choir. The grant funded weekly choir sessions as well as concerts and regular opportunities to perform in public both at the Weller Centre, and elsewhere in Caversham and Reading.

Capital Projects Grants

Following the outstanding success of the 2024 programme, trustees ran a capital grants programme for a second consecutive year. The programme, named Building for the Future, was open to bids for either full or part funding of new builds, extensions or large-scale refurbishments to strengthen and develop local voluntary sector infrastructure and support capacity building. Six grants totalling £238,370 (2024: £365,334) were approved as follows:

• £47,000 to No5 Young People towards the development of Reading Young People’s Hub which will deliver mental health, well-being and support services to young people aged 11 to 15.

• £39,370 to RISC to fund the refurbishment of the outside of RISC’s Grade 2 listed building in London Street. Work to repaint all exterior woodwork and various repairs to the roof and gutters will ensure the Centre can continue to offer decent facilities that are not available elsewhere in central Reading at a price groups can afford. This project will make a significant contribution to sustaining Reading’s vibrant voluntary and community sector and the capacity of local civil society more generally.

• £35,000 to the Museum of English Rural Life towards a garden studio to provide much needed shelter for outdoor learning activities. The garden provides a place for a diverse range of local groups and communities to enjoy nature and participate in green health programmes.

• £47,000 to Building for the Future - a local charity committed to creating an inclusive environment where children with disabilities and additional needs can thrive - towards the fit out of new premises to relocate “Our House” to Thames Valley Park. This grant is funding the construction and the internal fit out of two Changing Places toilets for severely disabled people. The move to the new premises will provide a unique centre for disabled children and young adults, providing opportunities for play, recreation, socialisation, employment such as does not currently exist in the area.

• £40,000 to Readipop towards the final costs of the first floor extension and ground floor redevelopment at Readipop Studios. This grant enables the completion of a major project to extend and improve the facilities needed to deliver all elements of Readipop’s programme under one roof.

• £30,000 to Dingley’s Promise towards the refurbishment of their Reading Centre to transform it into a safe, stimulating, and welcoming sensory learning space for under 5s with special educational needs and disabilities.

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The Earley Charity

Trustees' Report (continued)

In addition to the specific programmes above, 35 (2024: 44) applications seeking funding for a variety of projects were received. Of these 20 (2024: 29) grants were awarded totalling £143,139 (2024: £84,027). These grants funded a range of projects including enrichment activities for children and young people, support services for vulnerable groups and families in crisis, and a community-led conservation programme to transform an under-used natural resource into an accessible, welcoming space that can be enjoyed by all. The largest award was a grant of £94,000 to Reading Museum in support of their ‘Roman Britain - Reimagined in Reading’ project. The project involves the redevelopment of the Silchester Gallery, which houses the Museum’s nationally important Roman archaeological collections, to create a new accessible gallery, learning resources and participatory activities. The award, which was 10% of the total project budget, was a significant contribution to the match funding needed for the Museum to be able to make an application to the National Lottery Heritage Fund, which the trustees were delighted to learn has been successful. The project will enable and support under-served audiences to engage with Reading’s Roman past through the interpretation and activity plans targeting primary schools in Reading’s most diverse neighbourhoods, young people, low-income families, disabled people and minority communities, as well as providing a fascinating experience to be enjoyed by the wider community.

Monitoring grant performance

Organisational grants

All organisational grantees are asked to complete monitoring and evaluation reporting at the end of the funding period. As well as explaining what the grant helped to achieve and the difference it made, this information also helps trustees ensure their grant making has been carried out in accordance with the charitable objects and informs future programmes. Where an on-going funding relationship exists, trustees receive regular presentations from the grant holder and renewal of funding is contingent on satisfactory reports being received.

During the year 3 Progress Reports and 32 Completion Reports were received.

Individual grants

Individual grant making is monitored by follow-up calls on a selection of grant awards. Monitoring makes sure funds have been used for the purpose they were awarded and assesses the recipient’s experience of the grant process.

Seven follow-up calls were made on grants awarded in 2025. A single parent fleeing domestic abuse with her young child was awarded a grant for bedroom furniture helping to furnish their new home and making it more comfortable. A single lady, who is a wheelchair user, was helped to buy a fridge freezer that needed to be a specific height and layout. She was delighted with her new appliance and commented that the Earley Charity had stepped in where others had been unable to help. A single parent, who fled from domestic abuse with her children, received a grant for a bed frame for her daughter, who was sleeping on a mattress on the floor. Having a proper bed has made the daughter’s room a comfortable space which has helped her to be much more settled and focused.

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The Earley Charity

Trustees' Report (continued)

Financial review

Financial position

The Charity is funded by a permanent endowment. The trustees received authorisation from the Charity Commission to adopt total return accounting in an Order dated 15 January 2007. In 2010 the trustees agreed to have income generated reinvested and to draw down sufficient funds each year to cover expenditure. These withdrawals are in the form of a regular monthly transfer and occasional annual lump sum. The amount of the lump sum is determined by the trustees following consultation with their fund manager when setting their budget for the coming year.

At the start of the year the Charity was holding just over £1,677,894 in local funds. Trustees agreed to draw down a further £780,000 from the unapplied total return to fund activities in 2025. With strong local funds, trustees felt comfortable to continue with all their grant making programmes, including running a capital grants stream for a second consecutive year. At year end local funds had reduced to £1,532,317.

The Charity’s income from listed investments and bank interest is in line with last year. Direct charitable expenditure on grants decreased from £1,012,981 in 2024 to £924,192 in 2025.

The Charity’s net incoming resources before investment gains and losses showed a deficit this year of £845,717 (2024: £903,928 deficit).

Investment policy and objectives

The Charity operates a total return approach to the investment of the permanent endowment. In accordance with the terms of the Order made by the Charity Commission, the trustees confirm that:

• in identifying the value of the portion of the permanent endowment that represented unapplied total return, the trustees first identified the value of the initial founding gift in April 1988 following the sale of the land originally given to the Charity;

• when determining the amount of unapplied total return to transfer to income the trustees have considered the amount of income required to maintain the current level of charitable activity;

• when reaching their decision as to the unapplied total return to transfer to income, the trustees have taken professional advice from their investment advisors regarding the market outlook, investment trends and yields and the prospect for future capital growth.

The investment objective is to invest for maximum return whilst taking into account the protection of the underlying capital of the fund.

Transfer of the investment portfolio to Rathbones Investment Management completed in April following Investec Wealth & Investment UK becoming part of Rathbones Group plc in 2024.

The fund lost value in the early part of the year but saw positive gains from mid-year onwards regaining the earlier losses. Over the year the portfolio total return was 6.1% and was valued at £10,117,149 at year end.

The trustees regularly review their strategy for withdrawing money from the fund with their Investment Manager and are comfortable with the current practice.

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The Earley Charity

Trustees' Report (continued)

Reserves policy

Having carefully considered expenditure obligations and the general needs of the Charity, trustees have decided on an agreed level of unrestricted free reserves of £500,000, equating to around six-months’ unrestricted charitable expenditure. The trustees consider that this level will provide sufficient funds to respond to applications for grants and ensure that there are sufficient funds available to cover support and governance costs. The trustees consider that a level of six months is sufficient given the flexibility afforded by the total return approach towards the investment of the permanent endowment which allows trustees to transfer amounts from the unapplied total element of the endowment fund in the case of urgent need.

The balance held as unrestricted funds at 31 December 2025 was £799,731, which are regarded as free reserves. The current level of reserves is therefore higher than is needed and this will be adjusted by reducing the amount released from the unapplied total return fund in 2026.

Going Concern

After making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Future plans

The overall plan for grant making remains the same. Trustees are minded to increase the number of partnership grants if a suitable project or projects for on-going funding can be identified. Trustees are conscious that although the value of the endowment has remained stable over a number of years even with regular annual drawdowns of around £780,000, it is not increasing in line with inflation. They plan to review the balance between the grant making work done now and protecting the value of the endowment for future beneficiaries.

Sustainability

The trustees have a policy of ethical and responsible investing with environment, social and governance (ESG) considerations integrated into the stock selection process. The portfolio is monitored using MSCI indices scoring an above average ESG rating of AA.

Structure, Governance and Management

Governing document

The Charity is controlled by its governing document, a deed of trust (sealed 10 May 1990, replacing that of 14 November 1933) and constitutes an unincorporated charity.

Recruitment, appointment, induction and training of new trustees

New co-opted trustees may be sought by advertisement or through nomination. Any potential new trustee may have an informal meeting with a trustee or the Clerk to the Trustees before being invited for interview with the trustees. Once appointed they are given copies of the minutes from the previous 3 meetings and the Charity Commission booklet The Essential Trustee: What You Need To Know.

New and existing trustees are provided with details of appropriate training opportunities as they occur.

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The Earley Charity

Trustees' Report (continued)

Organisational structure

The body of trustees consists of 4 nominated trustees and 4 co-opted trustees. Nominated trustees are appointed, 2 by Reading Borough Council and 2 by Earley Town Council. Each appointment is made for a term of 4 years. Co-opted trustees are appointed for a term of 5 years by a resolution of the trustees. Appointments may not be made more than one month before the term of an existing co-opted trustee expires with effect from the date of expiry. In accordance with the Charity’s trust deed, where a trustee is co-opted to the board to replace another trustee, they will continue to serve the outgoing trustee’s term of office.

The full body of trustees meets 4 times a year. The first meeting each year includes the Annual Meeting. At these meetings the trustees consider the operations of the Charity and take decisions on recommendations made by the sub-committees. Organisation grant applications for over £3,000 and those received from individuals for over £500 are also determined at these meetings.

The Grants Panel has been delegated the power to take decisions on grant applications from individuals. Power to approve organisational grants to a value of £3,000 is delegated to the Community Development Sub-Committee. It is felt that the delegation of power to sub-committees to take minor decisions is an appropriate way to ensure that the workload of the Charity is handled in an efficient and effective manner.

The trustees periodically arrange special whole day meetings to dedicate time to discussing policy and planning issues. They would also use these occasions for training and team building.

Sub-committee structure

There are currently 3 sub-committees (detailed below). Additional sub-committees may be set up from time to time to deal with issues as appropriate.

Grants Panel Sub-Committee: determines applications from individuals to the Relief in Need and Care Leavers Independent Living programmes with authority to approve grants of up to £1,000.

Finance, Policies and Resources Sub-Committee: deals with finance and strategic planning for the Charity. It has delegated authority to take straightforward financial decisions in line with existing Charity policy or precedents and exceptionally, major financial decisions in situations of urgency.

Community Development Sub-Committee: determines applications from organisations for £3,000 and under; previews larger applications which fall within its remit and receives presentations from the Earley Charity Workers and other partner organisations.

Trustees

The following trustees served during the year:

R E Ames - Chairman (Earley Town Council) D C Sutton - Vice Chairman (Reading Borough Council) R J Cocks (Co-opted) P Hooper (Co-opted) D G Jenkins (Co-opted) T Maher (Earley Town Council) E Terry (Reading Borough Council) M Waite (Co-opted)

Clerk to the Trustees

Miss J Wittig

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The Earley Charity

Trustees' Report (continued)

Decision making

The trustees are responsible for directing and controlling the Charity and all give of their time freely. Details of any payments made to trustees are shown in the notes to the Financial Statements.

Trustees and key management are required to disclose all relevant related party information. Details of transactions with related parties are shown in the notes to the Financial Statements. At the start of every meeting trustees are asked to declare any conflicts of interest and conflicts of loyalty on the business of the meeting. Where a conflict arises they are required to withdraw from the meeting and take no part in the discussion or decision.

The day-to-day running of the Charity is delegated to the Clerk to the Trustees.

Key Management remuneration

The pay of senior staff members is reviewed annually by trustees and is normally increased in line with average earnings and inflation. The salary of senior managers are set and reviewed to ensure that they are commensurate with similar roles in other organisations of the same nature. This ensures that the trustees are able to recruit senior managers at the required level and with the required skills to meet the needs of the job role.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

The trustees consider poor investment performance to be the Charity’s principal financial risk. To mitigate this risk they employ the services of a reputable investment manager to manage the permanent endowment. Funds are invested in a diversified investment portfolio which is measured against a customised benchmark. The trustees have also decided to inflation-adjust the original investment by £100,000 per annum to safeguard the endowment for future beneficiaries. Operating on a total return basis helps to stabilise the financial resources available for the grant making programmes while giving the flexibility to make substantial grants for desirable projects.

The operational risk of awarding grants that are ineffective is managed by ensuring as much information as possible is available to the trustees when making their decisions. This is collected by way of an application form and is backed up by the trustees’ extensive knowledge of the area of benefit. All individual applications have to be sponsored by a professional to whom the applicant is known and who can verify the need. The credibility of applications is further checked by the Charity’s officers. The trustees operate systems to monitor and evaluate the benefit of their grant making from which they learn what aspects work and where risks might lie. They accept that on occasions they will be taking risks by supporting new organisation or those that are not well known to them but consider these risks to be worthwhile in the pursuit of the achievement of the Charity’s objects and their strategic priorities.

The trustees employ a firm to provide HR advice to manage risks associated with employment.

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The Earley Charity

Trustees' Report (continued)

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

The annual report was approved by the trustees of the charity on 19 August 2026 and signed on its behalf by:

R E Ames Trustee

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The Earley Charity

Independent Auditor's Report to the Members of The Earley Charity

Opinion

We have audited the financial statements of The Earley Charity (the 'charity') for the year ended 31 December 2025, which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, 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 to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 14

The Earley Charity

Independent Auditor's Report to the Members of The Earley Charity (continued)

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Charities (Accounts and Report) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities (set out on page 13), 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 to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Page 15

The Earley Charity

Independent Auditor's Report to the Members of The Earley Charity (continued)

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we design procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Vale & West Accountancy Services Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Page 16

The Earley Charity

Independent Auditor's Report to the Members of The Earley Charity (continued)

Use of our report

This report is made solely to the charity trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to trustees in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Lee Gardner FCA (Senior Statutory Auditor) For and on behalf of Vale & West Accountancy Services Limited, Statutory Auditor

Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG

27 August 2026

Page 17

The Earley Charity

Statement of Financial Activities for the Year Ended 31 December 2025

Income and Endowments from:
Investment income
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net (expenditure)/income
Gross transfers between funds
Other recognised gains and losses
Net gains on investments
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
23,218
30
23,248
-
(1,036,710)
(1,036,710)
(1,013,462)
735,945
-
(277,517)
1,077,248
799,731		 Endowment
funds
£
211,532
-
211,532
(43,787)
-
(43,787)
167,745
(735,945)
473,691
(94,509)
10,487,657
10,393,148		 Total
2025
£
234,750
30
234,780
(43,787)
(1,036,710)
(1,080,497)
(845,717)
-
473,691
(372,026)
11,564,905
11,192,879		 Total
2024
£
266,585
-
266,585
(45,501)
(1,125,012)
(1,170,513)
(903,928)
-
585,051
(318,877)
11,883,782
11,564,905

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 14.

The notes on pages 21 to 32 form an integral part of these financial statements. Page 18

The Earley Charity

(Registration number: 244823) Balance Sheet as at 31 December 2025

Note
Fixed assets
Investments
9
Current assets
Debtors
10
Cash at bank and in hand
11
Creditors: Amounts falling due within one year
12
Net current assets
Net assets
Funds of the charity:
Endowment funds
Unrestricted income funds
Unrestricted funds
Total funds
14		 2025
£
10,404,303
-
1,248,384
1,248,384
(459,808)
788,576
11,192,879
10,393,148
799,731
11,192,879		 2024
£
10,499,081
1,069
1,430,000
1,431,069
(365,245)
1,065,824
11,564,905
10,487,657
1,077,248
11,564,905

The financial statements on pages 18 to 32 were approved by the trustees, and authorised for issue on 19 August 2026 and signed on their behalf by:

......................................... R E Ames Trustee

......................................... Dr D C Sutton Trustee

The notes on pages 21 to 32 form an integral part of these financial statements. Page 19

The Earley Charity

Cash Flow Statement for the Year Ended 31 December 2025

Note
Cash flows from operating activities
Net cash expenditure
Adjustments to cash flows from non-cash items
Depreciation
Investment income
Interest received
Accrued interest in investments
Investment management costs
Working capital adjustments
Decrease in debtors
10
Increase in creditors
12
Net cash flows from operating activities
Cash flows from investing activities
Interest received
Acquisitions of investments
Proceeds from sale of investments
Dividend income
Investment management costs
Net cash flows from investing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at 1 January
Cash and cash equivalents at 31 December		 2025
£
(845,717)
-
(210,630)
(24,120)
-
43,787
(1,036,680)
1,069
94,563
(941,048)
24,120
(2,607,375)
3,175,844
210,630
(43,787)
759,432
(181,616)
1,430,000
1,248,384		 2024
£
(903,928)
22
(228,016)
(38,569)
2,511
45,501
(1,122,479)
49
238,602
(883,828)
38,569
(2,208,294)
2,454,554
228,016
(45,501)
467,344
(416,484)
1,846,484
1,430,000

All of the cash flows are derived from continuing operations during the above two periods.

The notes on pages 21 to 32 form an integral part of these financial statements. Page 20

The Earley Charity

Notes to the Financial Statements for the Year Ended 31 December 2025

1 Accounting policies

Basis of preparation

Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Income and endowments

Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the right to receive payment is established, which is typically upon receipt of the dividend.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Grant expenditure

Grants payable are payments made to third parties in the furtherance of the charitable objects of the charity. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside of the control of the charity.

Page 21

The Earley Charity

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

Grant provisions

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Governance costs

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees.

Irrecoverable VAT

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Fixed asset investments

Fixed asset investments are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. Realised and unrealised gains and losses are presented net in the Statement of Financial Activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Page 22

The Earley Charity

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

The charity has a single permanent endowment. The proceeds from the sale of of the initial founding gift (the Earley Poor's Land) in April 1988 provides for the trustees to invest the capital in perpetuity and is managed on a total return basis. The trustees at their discretion may allocate any part of the unapplied total return to the general purposes of the charity, namely to the relief of the needy, sick and elderly residents of the area of benefit through making grants to appropriate institutions and individuals.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 23

The Earley Charity

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2 Investment income

Income from dividends;
Dividends receivable from other listed investments
Interest receivable and similar income;
Interest receivable on bank deposits
Total for 2025
Total for 2024		 Unrestricted
funds
General
£
-
23,218
23,218
35,357		 Endowment
funds
Permanent
£
210,630
902
211,532
231,228		 Total
funds
£
210,630
24,120
234,750
266,585

3 Expenditure on raising funds

a) Investment management costs

Investment management costs;
Amounts payable to investment managers
Total for 2025
Total for 2024		 Endowment
funds
Permanent
£
43,787
43,787
45,501		 Total
funds
£
43,787
43,787
45,501

Page 24

The Earley Charity

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

4 Expenditure on charitable activities

Grant funding of activities
Staff costs
Governance costs
Total for 2025
Total for 2024
5
Grant-making
Analysis of grants
Analysis
Community learning and activity
programmes
Earley Charity workers
Ongoing partnership funding
Trustee led grants
Applications
CResCent legal & repair costs
Capital project grants
Douglas Chilvers memorial bursary
Relief in need
Care leavers independent living		 Note
Grants to institutions
2025
£
2024
£
160,423
170,126
230,060
229,469
132,614
105,457
75,664
43,600
102,930
86,978
-
18,076
197,870
335,334
5,000
5,000
-
-
-
-
904,561
994,040		 Unrestricted
funds
Total
General
£
funds
£
924,192
924,192
75,832
75,832
36,686
36,686
1,036,710
1,036,710
1,125,012
1,125,012
Grants to individuals
2025
£
2024
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
16,102
13,187
3,529
5,754
19,631
18,941		 Total
funds
£
924,192
75,832
36,686
1,036,710
1,125,012
18,941

Grants in the period

The following grants were paid by the charity to organisations:

2025 2024
Organisations Programme £ £
Community Learning and Activity
Earley CResCent Community Association Programmes 77,366 80,008
Community Learning and Activity
Community Leaming and Activity Programmes Programmes 83,057 90,118
Berkshire Women's Aid Earley Charity Workers 51,990 54,989
Page 25

The Earley Charity

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2025 2024
Organisations Programme £ £
Earley CResCent Community Association Earley Charity Workers 43,634 40,992
Reading International Solidarity Centre Earley Charity Workers 50,324 53,476
Reading Voluntary Action Earley Charity Workers 46,169 49,130
Readipop Earley Charity Workers 37,943 30,882
Building for the Future Capital Grants Programme 47,000 -
No 5 Young People Capital Grants Programme 47,000 -
Readipop Capital Grants Programme 40,000 -
Dingley's Promise Capital Grants Programme 30,000 -
Reading International Solidarity Centre (RISC) Capital Grants Programme 39,370 -
Progress Theatre Capital Grants Programme 14,500 -
CultureMix Arts Capital Grants Programme - 75,000
Junction Arch Heritage and Arts CIC Capital Grants Programme (20,000) 20,000
Launchpad Reading Capital Grants Programme - 50,000
Loddon District Scouts Capital Grants Programme - 100,000
Reading YMCA Capital Grants Programme - 40,334
The Engine Shed Capital Grants Programme - 50,000
Aspire2 Ongoing Partnership Funding 11,053 15,000
Graft Thames Valley Ltd Ongoing Partnership Funding 15,000 15,000
Reading International Solidarity Centre Ongoing Partnership Funding 14,982 14,979
Reading Rep Theatre Ongoing Partnership Funding 15,000 15,000
Reading Voluntary Action Ongoing Partnership Funding 15,000 15,000
Readipop Ongoing Partnership Funding 15,000 20,000
Rockets Sport and Educational Foundation Ongoing Partnership Funding 14,963 14,838
University of Reading - Intemnships Ongoing Partnership Funding 31,616 (4,360)
Citizens Advice Wokingham Trustee Led Grants - 6,840
Dialogue Society Trustee Led Grants - 2,000
Friends of Reading Abbey Trustee Led Grants - 2,000
Pakistan Community Centre Trustee Led Grants - 20,760
Reading Refugee Support Group Trustee Led Grants - 12,000
Reading Macular Support Group Trustee Led Grants 1,000 -
Jo Anderson Consultancy Trustee Led Grants 9,390 -
Aisha Masjid Islamic Centre Trustee Led Grants 7,964 -
No 5 Young People Trustee Led Grants 27,310 -
Reading Museum Trustee Led Grants 30,000 -
Douglas Chilvers Memorial
Parenthesis Bursary 5,000 5,000
Alfred Sutton Primary School Applications - 1,000
Alliance for Cohesion & Racial Equality Applications - 4,200
Assisting Berkshire Children to Read Applications - 2,000
Berkshire MS Therapy Centre Applications - 7,124
Berkshire Music Trust Applications - 5,535
British Red Cross Applications - 5,022
CLASP Applications (450) 900
Page 26

The Earley Charity

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2025 2024
Organisations Programme £ £
Connect Reading Applications - 4,500
Daisy's Dream Applications - 4,784
Greater Reading Nepalese Community Association Applications - 3,000
Green Health Thames Valley Applications - 800
Headway Thames Valley (HTV) Applications - 4,982
Home-Start Reading Applications - 936
Hope & Vision Communities Applications - 2,000
Junction Arch Applications (4,709) 4,990
Parents and Children Together (PACT) Applications - 3,000
Park United Reformed Church Applications - 5,000
Rainbow Trust Children's Charity Applications - 360
Reading Abbey Division (R.S. Achilles) Ranger
Guide Unit		 Applications (149) 655
Reading Civic Society Applications - 3,000
Reading Gateway Church Applications - 1,500
Reading Hospital Broadcasting Service Applications - 6,000
Redlands Primary School Applications - 1,000
Ruth Ascher Piano Masterclass Applications - 1,000
Starting Point (The Mustard Tree) Applications - 3,466
Swings & Smiles Applications - 750
The Way Ministry (underspend returned 2024) Applications - (4,173)
WhitArts Community Group Applications - 1,200
Whiteknights Indoor Bowls Club Applications - 5,000
Wokingham Citizens Advice Applications - 4,950
Wokingham In Need Applications - 2,497
Step by Step Partnership Applications 1,135 -
Royal County Berks Army Cadet Force Applications 2,400 -
The Cowshed Applications 3,000 -
52nd Reading Scout Group Applications 1,166 -
Crescent Under Fives Pre-School Applications 3,000 -
Barbados & Friends Association (Reading) Applications 2,888 -
No5 Young People Applications 2,355 -
Reading Male Voice Choir Applications 1,890 -
Ridgeline Trust Therapeutic Garden Applications 734 -
Autism at Kingswood Applications 5,000 -
Reading Samaritans Applications 1,800 -
Nature Nurture CIC Applications 4,720 -
Reading Haydn Voice Choir Applications 1,200 -
My Cancer My Choices Applications 550 -
University of Reading Department for Film,
Theatre and Television		 Applications 6,500 -
Jelly Applications 5,000 -
9th Reading Guides Applications 900 -
Page 27

The Earley Charity

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

Organisations
Programme
Reading Museum
Applications
CResCent Repairs
CResCent Legal & Repair Costs		 2025
£
64,000
-
904,561		 2024
£
-
18,076
994,040

Grants in the period

The following grants were paid by the charity to individuals

Individuals
Relief in need
Care leavers independent living		 2025
£
16,102
3,529
19,631		 2024
£
13,187
5,754
18,941

6 Trustees remuneration and expenses

There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.

7 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2025
£
70,541
1,764
3,527
75,832		 2024
£
68,018
1,718
3,401
73,137

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

2025 2024
No No
Administration and welfare 2 2

No employee received emoluments of more than £60,000 during the year

8 Taxation

The charity is a registered charity and is therefore exempt from taxation.

Page 28

The Earley Charity

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

9 Fixed asset investments

Investments

Investments
Cost or Valuation
At 1 January 2025
Revaluation
Additions
Disposals
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024
10 Debtors
Prepayments
11 Cash and cash equivalents
Cash at bank
12 Creditors: amounts falling due within one year
Trade creditors
Grant creditors
Pension contributions unpaid
Accruals		 Listed
investments
£
10,260,984
403,434
2,607,375
(2,997,610)
10,274,183
10,274,183
10,260,984		 Cash held by
investment
funds
£
238,097
-
-
(107,977)
130,120
130,120
238,097
2025
£
-
2025
£
1,248,384
2025
£
2,855
433,584
1,107
22,262
459,808		 Total
£
10,499,081
403,434
2,607,375
(3,105,587)
10,404,303
10,404,303
10,499,081
2024
£
1,069
10,274,183 130,120
10,274,183 130,120
10,260,984 238,097
2025
£
-
2025
£
1,248,384
2025
£
2,855
433,584
1,107
22,262
459,808
2024
£
1,430,000
2024
£
2,501
339,199
1,069
22,476
365,245

13 Contingent liabilities

As at 31 December 2025, the charity had authorised grants for payment in the next financial period subject to satisfactory completion of grant acceptance proceudre, as follows: Museum of English Rural Life (MERL) University of Reading £35,000

Page 29

The Earley Charity

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

14 Funds

Unrestricted funds
General
Endowment funds
Permanent
Total funds
Unrestricted funds
General
Endowment funds
Permanent
Total funds		 Balance at
1 January
2025
£
1,077,248
10,487,657
11,564,905
Balance at
1 January
2024
£
1,732,261
10,151,521
11,883,782		 Incoming
resources
£
23,248
685,223
708,471
Incoming
resources
£
35,357
816,279
851,636		 Resources
expended
£
(1,036,710)
(43,787)
(1,080,497)
Resources
expended
£
(1,125,012)
(45,501)
(1,170,513)		 Transfers
£
735,945
(735,945)
-
Transfers
£
434,642
(434,642)
-		 Balance at
31
December
2025
£
799,731
10,393,148
11,192,879
Balance at
31
December
2024
£
1,077,248
10,487,657
11,564,905

Page 30

The Earley Charity

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

15 Analysis of net assets between funds

Fixed asset investments
Current assets
Current liabilities
Total net assets
Fixed asset investments
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
-
1,248,384
(448,652)
799,732
Unrestricted
funds
General
£
-
1,431,069
(353,821)
1,077,248		 Endowment
funds
Permanent
£
10,404,303
-
(11,156)
10,393,147
Endowment
funds
Permanent
£
10,499,081
-
(11,424)
10,487,657		 Total funds at
31 December
2025
£
10,404,303
1,248,384
(459,808)
11,192,879
Total funds at
31 December
2024
£
10,499,081
1,431,069
(365,245)
11,564,905

General funds

General Funds are available for the furtherance of the charity's objectives.

Endowment funds

The Permanent Endowment Fund was established following the sale in April 1988 of the land originally given to the Charity as the initial founding gift. These funds are held as permanent endowment, the income from which is freely available to fund the activities of the charity.

Transfer between funds

The investment power of total return was granted by a Charity Commission Order on 15 January 2007. This power permits the trustees to invest permanently endowed funds to maximise total return and to apply an appropriate portion of the unapplied total return to income each year. Until the power is exercised to transfer a portion of unapplied total return to income (as disclosed below), the unapplied total return remains invested as part of the Permanent Endowment.

The power allows the trustees to decide in each year how much of the unapplied total return is transferred to income funds and so available for expenditure. Having considered their obligations under the duty of even handedness, the trustees made a transfer of £735,945 unapplied total return to unrestricted income funds. In making this decision the trustees have taken account of an abnormal investment climate, the return on investment for the year and the income needs of the charity.

Page 31

The Earley Charity

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

16 Related party transactions

The charity purchased indemnity insurance for the trustees totalling £2,498 (2024: £2,236).

Earley CResCent Community Association

The Earley Charity appoints two of the trustees of the Earley CResCent Community Association, R Ames and P Hooper. These appointments were made following a major grant award and as a condition of that grant award.

During the year, The Earley Charity gave £121,000 (2024: £121,000) to the Earley CResCent Community Association. A further £9,882 (2024: £7,045) was paid to Earley CResCent Community Association in respect of rent and meeting room costs.

Weller Centre

Trustees D Jenkins and D Sutton are on the Weller Centre management board. They are also members of the Weller Centre Advisory Board, along with trustee P Hooper. These appointments were made following a major grant award and as a condition of that award.

During the year, The Earley Charity gave £121,000 (2024: £121,000) to the Weller Centre.

Aspire2

Trustee M Waite is a partner of Aspire2.

During the year, The Earley Charity gave £15,000 (2024: £15,000) to Aspire2. At the balance sheet date £15,000 (2024: £15,000) was approved but unpaid.

Reading International Solidarity Centre (RISC)

Trustee D Sutton is a member of the Reading International Solidarity Centre.

During the year, The Earley Charity gave £65,303 (2024: £68,455) to RISC. At the balance sheet date £54,352 (2024: £14,979) was approved but unpaid.

Rockets Sport and Educational Foundation

Trustee E Terry has a spouse who is a trustee of the Rockets Sport and Educational Foundation.

During the year, The Earley Charity gave £14,838 (2024: £14,838) to Rockets Sport and Educational Foundation.

At the balance sheet date £14,963 (2024: £14,838) was approved but unpaid.

Page 32

The Earley Charity

Statement of Financial Activities by fund for the Year Ended 31 December 2025

Total Total
Unrestricted Unrestricted
Funds Funds
2025 2024
£ £
Income and Endowments from:
Investment income 23,218 35,357
Other income 30 -
Total income 23,248 35,357
Expenditure on:
Charitable activities (1,036,710) (1,125,012)
Total expenditure (1,036,710) (1,125,012)
Net expenditure (1,013,462) (1,089,655)
Gross transfers between funds 735,945 434,642
Net movement in funds (277,517) (655,013)
Reconciliation of funds
Total funds brought forward 1,077,248 1,732,261
Total funds carried forward 799,731 1,077,248

This page does not form part of the statutory financial statements. Page 33

The Earley Charity

Statement of Financial Activities by fund for the Year Ended 31 December 2025 (continued)

Total Total
Endowment Endowment
Funds Funds
2025 2024
£ £
Income and Endowments from:
Investment income 211,532 231,228
Total income 211,532 231,228
Expenditure on:
Raising funds (43,787) (45,501)
Total expenditure (43,787) (45,501)
Net income 167,745 185,727
Gross transfers between funds (735,945) (434,642)
Net movement in funds (568,200) (248,915)
Reconciliation of funds
Total funds brought forward 10,487,657 10,151,521
Total funds carried forward 9,919,457 9,902,606

This page does not form part of the statutory financial statements. Page 34

The Earley Charity

Detailed Statement of Financial Activities for the Year Ended 31 December 2025

Income and Endowments from:
Investment income (analysed below)
Other income (analysed below)
Total income
Expenditure on:
Raising funds (analysed below)
Charitable activities (analysed below)
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
2025
£
234,750
30
234,780
(43,787)
(1,036,710)
(1,080,497)
(845,717)
(845,717)
11,564,905
10,719,188		 Total
2024
£
266,585
-
266,585
(45,501)
(1,125,012)
(1,170,513)
(903,928)
(903,928)
11,883,782
10,979,854

This page does not form part of the statutory financial statements. Page 35

The Earley Charity

Detailed Statement of Financial Activities for the Year Ended 31 December 2025 (continued)

Investment income
Income from listed investments
Interest on cash deposits
Interest on cash deposits
Other income
Other income
Raising funds
Costs of obtaining investment advice
Charitable activities
Grants payable - institutions
Grants payable - individuals
Wages and salaries
Staff NIC (Employers)
Staff pensions (Defined contribution)
Office expenses
The audit of the charity's annual accounts
Auditors' remuneration - non audit work
Professional indemnity insurance
Legal and professional fees
Bank charges
Depreciation of plant and machinery		 Total
2025
£
210,630
902
23,218
234,750
30
30
(43,787)
(43,787)
(904,561)
(19,631)
(70,541)
(1,764)
(3,527)
(21,977)
(8,100)
(3,006)
(2,498)
(962)
(143)
-
(1,036,710)		 Total
2024
£
228,016
3,212
35,357
266,585
-
-
(45,501)
(45,501)
(994,040)
(18,941)
(68,018)
(1,718)
(3,401)
(23,351)
(8,940)
(2,112)
(2,236)
(2,048)
(185)
(22)
(1,125,012)

This page does not form part of the statutory financial statements. Page 36