Charlty reglstrallon numbor: 249037 THE CITY OF LONDON SOLICITORS, COMPANY CHARITABLE FUND ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
THE crry OF LONDON SOLICITORS, COMPANY CHARrrABLE FUND CONTENTS Page Fund Information Trustoe's report Indepèndent audltors, Yeport Statement of flnanclal actlvltles Balan¢e sheet 10 Notes lo the flnanclal statgmgnts 11
THE CITY OF LONDON SOLicrroR8' COMPANY CHARITABLE FUND FUND INFORMATION Trustee Th8 Clty of London Solldtors, Compary The offlcgrs of the Truslee, who are subject to elecuon by Ihe Court of the Clty of London Solldtors, Company, are: Ma8ter. S8nlor Ward8n'. Junlor Warden.. Chaimian of the Ch8rlttes Commlttee: Clerk: V. Cannon S. D8vIs G. Ledsham P. King K. Mansfield JP Charlty number 249037 Addre88 12 Ausln Frfar8, London, EC2N 2HE. Webslte vM.cltysolicltOT8.orglchafltablfraGtlvltles Ind¥pendent auditors F. W. Smlth, Rlth88 & Co, Chartered Accountants & Statutory Audllors, 15 Whitehall, London, SW1A 2DD. Bankers CAF Bank Ltcl, 25 Kings Hlll Avenue. Kings Hill, West Malling, Kent, ME19 4JQ. Investmont advlsors Ralhbones Group Plc, Port of Liverpool Bulldlng, Pier Head, Llverpool, L3 1NW. Page 1
THE CITY OF LONDON SOLICITORS, COMPANY CHARITABLE FUND TRUSTEE'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustee presents its reporttogelher with thefinancial statements ofthe Fund for the year ended 31 December 2025. The report and financial statem6nls have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Fund's trust deed. the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charlties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland IFRS 1021. Objectlves and actlvltles The Trust deed defines the Fund's objects as being.. °To obtsin, accumulate and apply funds for any charrtable object." The Fund receives contributions from its members and income from ils investments and supports other charities, principally with a legal or a City of London connection, and awards prizes. The officers of the Trustee confirm that they have referred lo the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Fund's aims and objectives, and in planning future activities and setting the donation making policy for the year. Achlgvements and performance The Charitable Fund has continued with ils programme of giving annual grants to a number of challties. It has given a range of one-off grants lo charities and good causes during the year. The majority of beneficiaries have either a legal link or are linked to the City of London or ils neighbouring areas. During the year the Fund paid £11,000 representing the third and final instalmenl of a three-year grant awarded in 2023 ID the Haringey Law Centre in relation to its Dealing with Debt project. In all cases the grants have provided much needed support to assist the various organisations in meeting their objectives. Flnanclal revlgw The Charitable Fund has continued to pursue ils objects making grants and awarding pr12es. During the year the Fund made grants of £56,142 and awarded prizes of £2,000. The policy of the Fund is lo make grants to other charities, principally with a legal or a City of London connection. An analysis of the grants made is given below Ifurther details are given in note 7 to the financial ststementsl.. 2025 2024 Health, welfare and advice Education and training Music and the arts Lord Mayor's appeal 45,642 7.250 750 2.500 47,751 3.500 2.550 2.500 56,142 56,301 Each y8arthe Lord Mayor holds an appeal in support of a range of charities. In 2025 the Appeal's charity partners included Homewards. the Royal Foundation and MQ Mental Health Research. Further details of the charities supported can be found at.. www.Ihelordma orsa eal.or Page 2
THE CITY OF LONDON SOLICITOR8' COMPANY CHARrrA8LE FUND TRUSTEE'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 Slructurei governancè and managomeTrt The Fund Is admlnlslered by the City of London Sollcltor8' Company and18 constituted 8$ a charity under a trust daed dated 24 November 1965. The Trustee ha8 th6 power to 8ppoinl other Trustees under the Trust deed. The Charllles Commltteo revlews appllcatlon8 for 8UPPOrt and recomm8nd8, Sn accordenco with the guidelines lald down by the Trusle¢, lo the General Purposes Committee of the Trustee Company which appllcations to support. The General Purposes Commlttee then meets to conslder whlch appllcations tts support and the amount of support lo provlde. The recommendalion of the Gener81 Purposes Commlttee Is then put bofore a meeting of the Court of the Trustee Company for approval. Plans for future porfods Tho Fund alms to contlnue to support other charltl&s, prlnclp811y wlth a legal or a Clty of London connectlon and award prizes. Connocted charltl88 Thg City of London Sollcltors, Company is also Truste& of The Clty Sollcitors, Educatlon81 Tru5L Investment pollcy The TTusle8's investment pollGy ts to provide a 8Lsfflclent total retum, In order to fund the Bpproxim8te level of &xpendlture envisaged by the Trustae In acwrdance wlth the FLtnd's objects. The Trustee believes that funds should be Invested to provlde the maxlmum lolal return commensurate wlth the level of risk agreed between ttself and its advisors. Overall the portfollo should provide the opportunty for capital and Income growth to meet the objectives of the Fund and should provide some protecilon agalnst irfflation. A regular revbw of the investments is undertaken by the Inveslmenl Commlttee of the Trustee Company to ompare the performance of v8rlous 8s$els against b8nchmark8 8greed belween the Trustee And Its advlsors. Rlsk managomont The Trustee has assessed the major rfsks to whlch the Fund Is exposed, In partlcular those related to the operations and finances of th8 Fund, and is satisfied that 8ysl&m8 are In place to mlugate Ihe exposure to Ihe major rfsks. Rèservg poIIcy The Trustee has examined the r8qulremont for free reseNeg, whlch ar8 unrestrfcled funds, and con81ders It appropriate lo have a level of reserves which will enable the Fund to generate sufflcient Investment Income for the Fund to conlinue th8 range of charftable giving that it currently undertakes. Th6 Trustee regul8dy revlews the level of reseNes of th8 Fund to ensure that they are adequate to lullll th8 Fund's oblectives. The Trust8e's policy is to dlstrfbute the Fund's annual Incomlng resources, the exceptlon of donatlon8 whl¢h are given on the condition that they are used lo Increa8e the Fund's caphal base. The Fund rew#ed a net increa$e In funds for the year of £128,815 Including a gain on Investrnents. AS 8hown on page 10. al 31 December 2025 the free unrestricted r88erves were £1,077,828 and the reslrtGted fund8 were £1,175. Page 3
THE CITY OF LONDON SOLICITORS, COMPANY CHARrrABLE FUND TRUSTEE'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 Publlc bengfit The Twst88 has consld8red the Charity Commlssion'8 general guidance on public benefit when revlewing the Fund's aims and oblecllv&s and in detemiinlng 518 donations polloy. The Trustee conslders that all of the aims and objectives detailed In Ihls report are there In order to benefft the publlc and that11 has complbed wlth the duly in section 4 of the Char189 A¢1 2011 to have due regard to the public benefft guldan¢e published by the Charity Commission. statement of Trustee's responslbllltl95 The Trustee is responslble for preparing the Annual Report and the finandal statements in accordance with applicable law and regulatfons, The law applicable to charities in England & Walos requlr88 the Truslee to prepare fin8nclal slatements for each financial year In accordance wlth United Klngdom Generally Accepted Accountlng Practice (United Klngdom Accounting Slandaids and applicable law). The Trustee mltst not approve the financl81 statements unless it is satisfied that they give 8 true and fair view of the state of affalrs of the Fund and of the Incoming resources and application of Iosources, Including the income and expandllure, of the Fund for that perS0d. In preparing th&s8 financlal statements, the Trustee18 raquSred to- select suitable accountlng policies and apply th8m consistenlly-, observe the methods and principles in the Charltles SORP- make judgements and estimates thal are reasonable and prudent., slate whether appllcable UK Accounting Standards have been followed. subject to any material departures dlsclosed and explalned in the financial stat8menls- and preparo the financial statements on the gng concem basls unless It Is inapprowlsle to presume that the Fund will continue Sn operation, bl dl The Trustee is responsibl& for keeping sufficient accountlng racords thot disclose with reasonable accuracy at any Ume the finencial position of the Fund and enable the Truste& lo ensure that the financial st8tements comply with the Charities Act 2011, the Charlty (Accounts and Report8) Regulations and the provlslons of tho Fund's trust deed. Tho Trustee is also responsible for safeguardlng the assels of the Fund and hence tor laklng reasonable steps for the prevenllon and detection of fraud and olher iThegulariUes. The Trustee confirms Ihal so far a8 11 is aware. there is no relevant audll Infomialion of whlch the Fund's audllorg are unaware. The Trustee has taken all the steps that it ought to have taken as Trustee In order lo make itself aware of any relevant audit Informatlon gnd to establish that the Fund's audltors are aware of Ihat infom78tlon. By order of Ihe Trustee Mas er aim Page 4
THE CITY OF LONDON SOLICITORS, COMPANY CHARrrABLE FUND INDEPENDENT AUDITORS, REPORT TO TRUSTEE OF THE CITY OF LONDON SQLicrroRS' COMPANY CHARrrABLE FUND Oplnlon We have audlled the financSal statements of The City of London Sollcltors. Company Charitable Fund lthe'Fund'l fw the year end&d 31 December 2025 whlch MprIse the statement of flnancial activities, the balance sheet and notes to the financial statements, Sncludlng a summary of 81gniflcant aCCDunling policies. The financial reporting framework that has been applied In thelr preparation Is appllcable law and United Kingdom Accounting Standards, Includlng Flnanclal Rep)rtlng Standard 102 'The Flnanclal Reporting Standard applicable in the UK and Republlc of Ireland, (United Kingdom Generally Accepted Accountlng pract?. In our oplnlon, the flnancial 8talgments'. give a true and falr vlew of the slate of the Fund's 8ffalrs as at 31 December 2025 and of Its Incomlng resources and applic8tlon of resourceg for the year then ended; have been properly prepared In accordance with United Kingdom Generally Accepted AcGounting Pracllce., and have been prepared In aGcordance wlth the requiromgnts of the Charlttes AGt 2011. Basls for opinion We conducted our audit In accordance with Intematlonal Standards on Audliing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further descdbed in the Audllors, responsibllltles for the audlt of the fin8nclal st8lem&nts section of our report. We ar6 independènt of the Fund In accordance wlth the elhlcal requirements that aro relevant lo our 8udit of the financlal statem8nts in the UK. Includlng Ihe FRC'8 Ethlcal Sl8nd8rd, and we have fulfilled our other ethical re8pon8lbilities in accordance wlth Ihese requirements. We belleve that the audit evidence we hav& obtained is sufficient and appropriate to provlde a bask fc our opinlon. Coneluslons relatlng 10 9olng conc¢rn In aUdIng the )Inancial statements, we have conduded that tha Trustse's use of the golng concem b881s of accountlng In the preparalion of the flnanclal statements is approprialo. B88ed on Ihe work we have perfom)ed. we have not idenlrfied any malsrfal uncertalntles relallng to events or condiliong that, Indlvidu8lly or collectively, may cast significant doubt on the entity's ability to conunue as a golng concern for a perlod of al least twelve months from when the flnancial stalements are authorlsed for Issue. Our responslbilltles and the responslbililtes of th8 TNstee wlth respect to going concern are de8crfbed In the relevant sections of this reporL Page 5
THE CITY OF LONDON SOLICITORS, COMPANY CHARITABLE FUND INDEPENDENT AUDITORS, REPORT TO TRUSTEE OF THE crry OF LONDON SOLICITORS, COMPANY CHARITABLE FUND Othor Inlomiatlon The other informatlon comprises tho Infomiauon Included In th& Annual Rep(Ki otherthan the financial stalements and our aLtditor8' r8POrt thereon. The Trustge18 responsible for the other Informallon conlalned wilhin the Annual Report. Our oplnlon on the flnancial Statements does not cover the other Infom18tion and. except to the extent othenvise expll¢iUy stated in our report, we do not 8xpre88 any fom of assurance con¢lu8ion thereon. Our responslbility is to rèad the other inlomiallon and, In dolng so, conslderwhetherthe other Infomation is materially inconsistent wllh the financial statements or our knowledge obtalned In the course of the audil or otherwise appears lo be malerlally mlsstatod. If we id8ntlfy such materlal incon$lstencle8 or apparent material misstatements, w8 are required to detemilne whether thi8 glve rlse to a materfal mlsstatement in the flnancial statements themselves, If. based on the work we have perfonned. we conclude that thère is a material misstalemenl of this other Informatlon, we are raqulre(I lo report that fa¢t. We have nolhlng to report in thls regard. Matters on whlch we arg roqulred lo report by oXCePtlon We hav& nothing to report in respect of the followlng matters In relatbn to whl¢h the Chadtles (Accounts and Reports) Regulaon8 2008 requires us to report to you If, in OUT oplnlon: the Information given In the Trustee's Report is Incon818tent In any material respect with the flnancial 8talements' or 8LrfficS8nt accounting records heve not boen kepl; or the flnanclal ststemonts are not Sn agr8emenl wSth the acei)unting records and retums,. or we have not recelved all the information and explanalkS we requlre for our audlt. Respon$lbllltles of the Trustee As explalned more fully In the SlatementofTrustee's Respon31bilities set OLrt on paye 4 thg Trustee Is respon81ble for the preparallon of the financi818tatements and for being satlsfied that they glve a tnJ& and fair view, and for 8uch Intem81 Gontrol as the Trustee determlnes is necessary to enabl8 the preparauon of financlal statgments that are free from matertal mlsslatemen( whether due to fraud or error. In preparlng the financlal 8tat8ments, the Trustse Is responslble for assessing the Fund's ability to contlnue 88 a going concern, disdosing, as 8ppllcftble, matters r&lated to going concern and uslng the going concern basis of accounting unle88 the Trustee elther Intends to cease operations, or has no reall8Uc altemative but to do so. Pago 6
THE CITY OF LONOON SOLICITORS, COMPANY CHARITABLE FUND INDEPENDENT AUDITORS. REPORT TO TRUSTEE OF THE CITY OF LONDON SOLICITORS, COMPANY CHARITABLE FUND Auditors, r8sponslbllltles for the audlt of the flnanclal Statements We have boen appointed as audrtor under seelion 145 of the Charltles Act 2011 and report In accordance with tho knt and relevant regulatlon8 made or havlng 8ffect thereunder. Our objectives are to oblaln reasonable assurance about whether the flnancial ststemenls as a whole are free from malgrial misstatement, whether due lo fraud or error. and to issue an audltors, report that Includes our opinion. Reasonable 8S8uranc& is a hlgh level of 88surance, but Is not a guaranteo that 8n audit conducted in accordance wtth ISAS (UK) wlll always deteGt a materlal mlsstalement when11 exl8ts. MSsstatements can arise from fraud or error and are considared malorlal if, Indivldually or In the aggregata, they could reasonably be expeGtod to influence the economlc declslons of user8 taken on Ihe basls of these ffnanclal statemenls. Irregularit18s, including fraud, are Instances of non-compllance wlth laws and regulallons. We design procedures In Ilne with our rgsponslbilities, outllned above, to detect materf81 mi$gtatemenl8 In re8pect of irregularltlas, Includlng fraud. The extont to wh1(* our proGedures are capable of delecling IrregL51arllles, Including fraud is detailed below.. DIycus8ions wero held with, and enqulrfes made of, man8gem6nt and Ih05e charged with governance vAth view to Identtfying Ihose laws and regUlaon5 that could be expected lo have a material impact on the ffnanclal statements. During the engagemenl team briefing, Ihe outcom88 ofthese dlscusslon8 and enqulrles were 8hared wlth the team, as well as considerallon as to where and how fraud may occur In the entity. The following laws and regulallons were Idenliffied as bdng of 8lgnlfipan¢e to the antity. Those laws and regulallons conslderad to have a dlrect effect on the financial statements include UK financial reporting standards and th8 Charslles ACL It Is consldered that there are no 18ws and regulatlons for whlth nonOMplIance may be fundamental to the operatSng aspects of Ihe buslness. Audll procedures undertaken In re8pon8e to the potentlal ri8k8 relatlng trj IrregulaTit18s Iwhlch Include fraud and non-(x>mpllance Ylth laws and regulatlons) ccfflprlsod of: Inquirfes of management and thos8 charged wlth govemance as to whether the entlty compues wlth such laws and regutionS,. enquirles with the samg concèming any actual or potential Illigalion or dalm$', Inspedon of relevÈnt legal cDrr&spondenee; review of charities committee minutes; testlng the appropriateness of entrles in the nominal ledger, Including joumal entries., revlewlng transacllons around the end of the reporting p8rlod', and the perfomiance of analytical procedures to Identlfy unexpected movements In account ba18nces which may be Indlcatlve of fraud. No Instances of materlal non-compllance were Identified. However, the likelihwd of detecting irregularSlles, Inclufling fraud, 18 Ilmited by the Inherent dWNculty In detectlng Irregularities, the effectlveness of Ihe enllty's Gontrols, and th8 nature, Ilmlng 8nd extent of the audit procedures perfmed. Irregularllies that result from fraud mlghl be Inherently more difficult to detect than Irregularitles Ihal result from error. As explained above, there18 an unavoldable risk that materfal mlsstatements may be detected, even though the audlt has been plgnned and perfonned in accordance wlth ISA8 {UKI. A further descriptlon of our responslbllities for Ihe audlt of the linancial statements Is lo¢ated on the Flnancial Reportlng Councll'8 webslte at.. https'.Ilwww.frG.org.ukJauditorsre$ponslbilities. This description fomis part of our audllors, reporL Page 7
THE crry OF LONDON SOLICITORS, COMPANY CHARITABLE FUND INDEPENDENT AUDITORS, REPORT TO TRUSTEE OF THE CITY OF LONDON SOLICITORS, COMPANY CHARABLE FUND Use of our roport Thls report Is made solely to the Fund's Trustee in occordance with Part 4 of the Charities (Accounts and Reports) Regulalirjns 2008. Our audll work has been undertaken so that we mlght state to the Fund's Trustoe those matters we ar6 required to stste lo them in an audttor8' report and for no other puose. To thg fullest ext8nt permltted by law, we do not accept or assume responsibillty to anyone other than the Charftable Fund and the Fund's Trustee, for our audll work, for thls report, or for the oplnions we have formed. F. W. Smlth, Rlches & Co. Chartered Accountants & Statutory Audllors London J i F. W. Smlth, Rlches & Co.18 ellglble for appolntment as an auditor of Ihe CharitBble Fund by vlrbje of it5 ellgiblllty for appolntment a8 auditor of a company under section 1212 of the Companie8 Act 2006. Page 8
THE CITY OF LONDON 80LICITORS' COMPANY CHARrrABLE FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025 Noto 2025 Total unre5trictgd & restrlcted funds 2024 Totsl unrestricted & r081ricted funds Income and &ndowmgnts Donations and legaci88 Investment incom6 Interest receivable and stmllar Income 37.227 24,179 541 36,339 23,021 1,190 Total Income 61,947 60,550 Expendlture Costs Dfrelslng funds.. Investment management costs Adminislr8tiv8 fee8 6,320 260 7,600 129 6,580 7.729 Expenditure on charflable actlvltles.. Prfzes awarded Gran18 2,060 57,832 2.057 57,898 59,892 59,955 Total expendlture 66,472 67.684 Not Income for the year beforn Inv•stment1088es or galns (4,5251 17.134) Net galn8 on Investments 133,340 79.685 Net Income and movement In fund8 128,815 72.551 Fund balance brought foTh•ard at 1 January 2025 950.188 877,637 Fund balan¢o ¢aed fonvard at 31 December 2025 1,079,003 950.188 Page 9
THE CITY OF LONDON SOLICITORS. COklPANY CHARITABLE FUND BALANCE SHEET AS AT 31 DECEMBER 2025 Note 2025 2024 Flxed assets Investments 978,136 844,796 Current assets Deblors Cash at bank and in hand 10 6,361 98,431 6,079 140,338 101792 146,417 Credltors., amounts falllng due within one year 11 13.925 (41,0251 Net current assets 100,867 105,392 Total assets less CUTrTent Ilabllltles 1,079,003 950,188 Ngt a5s¢ts 1,079,003 950,188 Funds: Unrestricted funds Restricted fund8 13 13 1,077,828 1,175 949.013 1,175 Total Funds 1,079,003 950,188 The financlal statements on pages 9 to 19 were approvad and authorised for Issue by the Trustee on i113121and were slgn8d on its behalf by: non Maste Page 10
THE CITY OF LONDON SOLICITORS, COMPANY CHARITABLE FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting pollcles 1.1 Ba51s of preparation of financlal statemènts and assessment of golng concern The Ilnanclal statemènts have been prepared In ac¢ordance with 'Accountlng and Reporting by Charftles.. Statement of Recommended Practlce appllcable to charlties pr8paring their accounls In accordgnce with the Flnancial Reportlng Slandard applicable In the UK and Rapubllc of Ireland (FRS 102) {Second Edttion), ond the Financlal Reporting Standard applicable in the Unlted Kingdom and Republlc of Ireland {FRS 1021 and the Charltles Ad 2011 and UK Gonerally Accepled Pracllce a8 It applles from l January 2015. The ttngnclal slatements have been prepared to glv8 a 'true and fail and have departed from the Charllles (Accounts and Reports) Regulatlons 2008 only to the extent required to providg a True and falr v5ew'. Thls departure ha$ Involved following 'Ac¢ounUng and Reporting by CharlUes- Statemont of Recommended Praclee appllcable to charitles prep8ring thelr Accounts in acconfance with the Financ181 Reportlng 8tandard applicable in the UK and Republic of Ireland IFRS 1021 (Second Edition). rather than the Accounting and Reporting by Ch8rille8.' Statement of Recommonded PradiGo effective from 1 Aprll 2005 whlch has since been wlthdr8wn. The Fund con$titytes a publle beneflt enlty a8 defined by FRS 102. The Trustee con81ders thÉt Ihere are no mat&rial uncertalntles about the Fund's abillty lo continue as golng concem. Th8 preparatlon of flnanciBI stalemenls require8 the use of certaln critlc81 accountlng estimat6S. also requlres management to exerclse Its ludgemenl In the process of applying the Fund's accounting pollcle8. The areas Involvlng a higher degree of judgement or complexity, or 8re8s wherfy 8S8umpllon8 and eslmates gre sSgnlflcant lo th6 financial statements, are disdosed in note 2. 1.2 Income reeognltlon All income is recognlsed once the Fund has entitlement to the Income, r(18 probable that Income wlll bo received and the amount of Income receivable can be measured rellably. Tho followlng crlterta musl also be met before income Is recognlsed.. Donations and glfts Donatlons and glfts are recognlsed when both Ihe amount and setuement date are known. Legacles LegaGiOS are recognlsed on a oase by case ba818 followlng th8 grant of probate when the adminlstratorlexecutor for the gBtate has communlcated In wrlllng bolh the amount and 86tllemenl date. Investmgnt Income Interest on funds held on depoylt Is InGluded upon notification of thè Interest being pald or payable. Dividends are recognlsed on the divldend has been declared and noiinGatlon of the dlvldend due ha8 been received. Page 11
THE GITY OF LONDON SOUCITORS, COMPANY CHARITABLE FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Aecountlng pollcles Icontlnuedl 1.3 Donatéd Ser¥1* Donaled professlonal servlce8 are recognl$ed as Income when any condiilons associated wlth tho donatad Il¢m have been me( the recelpt of economlc benefit from the use by the Fund of the Item is probable and the 8conomlc benefit cAn be measured roliably. On recelpt, donated professlonal 8ervices are reGognlsed on the ba818 of the value of the glft to the Fund which Is the amount the Fund would have been wllllng to pay to obtaln 8ervlces of equivalent economlc benefit on the open markét., 8 corresponding amount18 then recognl8ed In the perfod of recelpt. 1.4 Resource$ oxp•nded Exp8ndlture18 recognlsed In the perlod when there Ss a legal or constmctive obligation commrtling the Fund lo that 8xpendltLtre, It is probable that the setuement wlll be required and the amount of the obligailon can be measured rellably. Atl exp8ndlture Is accounted for on an accruals basls. 1.5 Charltable actlvllles Costs of charitable acuvltles Include grants made and an apwtlonm8nt of support and governanc6 costs as shown In note 8. 1.6 Allocatlon of support and governanca costs Support costs hav& been allocated between gDv$3mance costs and other 8UPPOrt Gosts in proportion to the amount expended on each class of charitabl8 aclivili6s. Governance costs wmprlse all costg Involving the public accountability of the Fund and its compliance With regulallon and good pracllce. These costs Include costs related to statutory audlt and legal fees. 1.7 Costs of ralslng funds The costs of generating funds con¥ist of investment management costs. 1.8 Irrecoverablo VAT Irrecoverab18 VAT Is charged agalnst the eXndItUre headlng for whlch il was incuThed. 1.9 Flxgd a$s•l Investments Investments are a fomi of baslc ffln8nclal Instrument and are initially recognlsed at their Irans8Ctlon value and sub8equently measured 81 thelr falr value as al the balance sheet date using the closing quoted market price. Th8 Statement of flnanclal activili6s includes the net gaSn8 and108ses arislng on revaluallon and disposals throughout the year. The Fund does not acquira put optlons, diV?tfvQS or other complex flnanclal Instruments. The maln lo of fln8n¢l81 rlsk f8ced by th6 Fund 18 that of volatility In equlty marf(8ts and investment markets due to wider economic condltlons, the attitude of investors to investment risk, and changes In senument concerning equIe8 and wlthln partlcular sectors or sub Sectors. Page 12
THE CITY OF LONDON SOLICITORS, COMPANY CHARrrABLE FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng pollcles {contlnued) 1.10 Herltage assets The Fund holds part of a histor1¢ book colledon whlch wa8 r8celved as a beque8t. The ¢ollection is being held and malntalned for Its contrlbutlon to knowledge and culture and Is conslderad to be heritage a88et. The Twslèa considers that th9 Cost of obtalnlng 8 valuallon of Ihg collectlon would outwelgh the addltlonal benefit d8rived by users of th8 financlal st8t&mants In agsesslng the TnJstee'8 stewardship of the Fund's assets and Iherefore the collectlon b not capttallsed wllhln the Fund's Tinancial 81alements, 1.11 Funds Unrgstrlcted funds Unrestrictod funds ar8 funds th8t the Trustee is free to usa for any purpose In ftjrtherance of the haritabla objects. RestriGtsd funds Restricted funds are fund5, whlch have legal restrfcUon$ on thelr use, where donors have specified the funds Can only be spent on sp9clllc actlvltles. 1.12 Flnanclal Instruments The Fund ha8 ¢hosen to adopt Sections 11 and 12 of FRS 102 In resp8cl of flnanclal Instruments. Debtors Debtors are initially recognlsed al Iran$aGtion price and there8fter stated at amortised cosl uslng the effective interest method, less impalrment losse8 for bad and doubtful debts èxoepl where the effect of discounting would be immaterl81. In such cases. the d8btors are 8tatgd at cost le88 Impalrmenl loss&s. Credltors Creditory ar6 inltially recognised atfalr value and thereafter stated at amortlsed cost uslng the offectlve interest method unloss the effect of dlscountlng would be Immatorlal, in whlch c8se they are stated 8t cost. Cash and cash equlvalents Cash and cash 8qulvalents comprise cash al bank and In hand. Ollsettlng Flnancl81888e18 and 118billtles are offset and the net amountg presented in the financlal $latement8 whan there16 g legally enforceable right to set off the recognlsed amounts and there18 an intention to 88tU8 on a net ba81s or lo reallse Ihe asset and settle the Ilablllty $lmullaneou81y. 1.13 Forgign ¢urronGy Iran8latlon The Fund's functional and presentation Gurrency is th8 pound slerfing. Page 13
THE crry OF LONDON SOLICITORS, COMPANY CHARITABLE FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEPIIBER 2025 Accountlng pollcle* Icontlnued) 1.14 Taxallon H. M. Revenue & Customs has granted the Fund chadty exemption and thu8 It18 exempt from taxatlon. Judgements In applylng accountlng pollcle¥ and key sources of estlmallon un¢ertainty In preparing the financial statements managemènt are required to make judgements, estimat88 and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts r8POrted for revenu88 and expenses during the year. However, the nature of 881imatlon means that actual outcomes could differ from these gstimates. Whilst manag&menl have mad8 ludgements, estimates and assumptions in preparing the financlal stalemenls, they conslder that the88 have not had a significant effect on amounts recognlsed. Donatlons, glfts and deods of covenant 2025 2024 L)onallons includlng glft ald Donated $ervlc&s 29.157 8,070 27,085 9,254 37,227 36,339 Donated servlce8 Include th8 audli fae and fees relating lo Inveslm6nt managemenL Donations including glft ahj indude £nil (2024,. £nll) glven for reslrlcted purposes. Investment management 16•s The Clty ofLondon Sollcliors, Company bears th& majorlty ofthe annual cost In respect ofthe management of the Fund's Investment w)r(follo. The value of thls service to the Fund was £6,32012024: £7,600) and is recognlsed within Incoming resources as a donatlon, and an equivalent charge withln the cost of raising funds. Tru8tee's expenses and remuneratlon No Trustee remunerallon was p8ld durlng the year12024'. £nill. In addlllon, no offlcer of tha Trustse company w88 pald or relmbursed any expenses during the year12024.' £nll}. Prlzès awardod 2025 2024 Company prSze Wig and Pen prize 1,000 1,000 1,000 1,000 2,000 00 2,000 57 Alocaled costs (note 81 2,060 2,057 Page 14
THE crry OF LONDON SOLicrroRS' COMPANY CHARITABLE FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Grants 2025 2024 Haringey Law Centre Sollcil(ws Benevolent As80clallon Lord Mayor's Appeal 71 Cadet Detachmènt Support Through Court Dad's House Mansion House Scholarship Scheme Koesller Arts Sheriffs, & Recorderfs Fund Royal 8rlllsh Leglon ABF The Soldlers Charity CuTh8nt Operallon Fund Tower of London Choral foundallon City Harvest.. The Livery Food Inltlatlve Soclal Welfare Solic%tor Qualificati( Fund Isea note 15) Unlted Guild S8rvlce8 London Hearts Tutorfng lo Thrlve Why Me? Transfomilng Llves Through Re8tor8llve Justlce Women's Tru8t Only Conn8GI Prlsoners, Advlc8 Sgrvlce Prisoners Abroad The Hardman Trust Compassionate Friend8 Family Rlghts Group Free Representatlon Unlt Zacchaeus 2000 Trust City and East London Bereavement Servlce Happy Days Chlldren's Charity Anti TTafflcking and Labour Exploitation Unit The Solldtors Pro Bono Group (Law Works) Clty Sp8c181 Evenls- Opening ol the Garden of Rem6mbrance Rlghts for Women Breaking B8Triers Protect (Whislleblowng Advlce) Llmlied Justlce & Cara RCJ/lslinglon CIUz8ns Advice Bureau Transform Justtce Defence Medical Welfare Service Dr Johnson's House Trust Meirim Illuminating Ltd Lawyers 4 Leame Queen Mary Universlty of London - Pathways to Law City of London Pollce Cadets 800 2,500 2.500 7SO 2,500 2,500 2,500 500 2,500 1,650 I,ooo 1,800 1,0 750 750 750 2,000 11,800 200 1,568 2,000 2,000 1,833 1,500 2,000 2,000 2,000 500 2,000 2,000 2,000 2,000 1,000 1.000 1,000 200 1,000 1,000 750 750 750 12,500 200 2,000 6,642 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 1,500 56,142 1,690 56,301 1,597 Allocated Costs (note 8) 57,832 57,898 Page 15
THE CITY OF LONDON SOLICITOR8' COMPANY CHARITABLE FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Grants Icontlnued) Grants awarded Include £nil {2024'. £nill glven for reslrfctsd purposes. Analy81s of grants to Instttutlons: 2025 2024 Health. welfare and advice Educatlon and tr81nlng Music and the Arts Lord Mayols Appeal located Gosts {nole 81 45,642 7,250 750 2.500 1,690 47,751 3,500 2,550 2,500 1,597 57,832 57.898 The Lord Mayorf8 Appeal supports a number of charlties. Further delails of Iha Charle3 supported can be found al.. www.thelordmayorsÉppeal.org. Allocatlon of govemance and support Costs Ralslng Funds 2025 prtxes 2025 Grants 2025 Total 2025 Admlnislrative fees Audit fee (donated seTvIc81 260 260 1,750 00 1,690 Funclronlaclivity total 60 1,690 2,010 Ralslng Funds 2024 Prlzes 2024 Grants 2D24 Total 2024 Adminlstratlve fees Audit fae (donated 8ervlcel 129 129 1,654 57 1,597 Functionlacllvlty total 129 57 1,597 1,783 Page 16
THE crry OF LONDON SOLICITORS, COMPANY CHARrtABLE FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 vostments Falr value 2025 Falr value Cost 2025 Cost 2024 2024 Brought foNard Additlons Disposals Net gain on revaluation 420,661 844,796 420,672 765,122 {11) (11) 79,685 133,340 Carried foNiard 420,661 978,136 420,661 844,796 D18po8als at Gosl Include £nll12024,. £111 and dlsposals at falr value Ineludo £nil12024.. £111 relating to fracllonal antlllgmenl followlng the acqulsluon of Wtan Investment Trust by the Alliance Group. Page 17
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ThE CITY OF LONDON SOLicrroRS' COMPANY CHARrrABLE FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 202S 10. Debtors 202S 2024 Amounts due from the Clty of London Solicltors, Company 6.361 6,079 11. Credltors: Amounts falllng due wlthln ong year 2025 2024 Wig and Pen Prlze Donations Harlngey Law Centre Social Welfare Sollcltor Qualrfication Fund (see note 14) 1,000 2.925 2,000 4,425 11,0(10 23,6C(I 3,925 41,025 12. FinanGlal instruments 2025 2024 Flnandal assets measured at falr valua through incomg and &xp8ndlture 978,136 844,796 13. Funds Re¥trlct8d Unrostrlcted Fund¥ funds Total At 1 January 2025 Incc*n8 and endowments Co8ts of r8islng funds Exp8ndllure on charltable actlvltle8 Galns on Investments 1,175 949,013 61,947 (6,580) {59,892) 133,340 950,188 61,947 16,580) 159,892) 133,340 Al 31 Decomber 2025 1,175 1,077,828 1,079,003 There is one r8slricted fund for the Haringey Law Cenlre. 14. Relatod party Iransactlons The Trust's Trustee is tho City of London Soll¢itors' Company. The City of London SoFfjclloTS' Company Is 8180 Trustee of The City Sollcitors, Educatlonal TTUSt I°CSEr'). Durfng the year il was agreed that an addlllonal grant of £12,50012024- £11,800) would be mad610 CSET, for use In its Social Weffare Solicitor Quallfl¢atlon Fund project. These grant8 were pald durlng Ihe ye8r 12024.. Included in creditors at the year endl, Page 19