Charty number: 249105 THE CULFREY LANDS CHARITY UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
ThE CULFREY LANDS CHARITY CONTENTS Page Rof8ronce and admlnlstratSv• dotalls of th• charlty. Its tru$t••s and advlsers Trust•e8' report Indepondent •xamln•rf• report Recolpts and paymfjnts account stst•m•nt Of è$ièts and Ilabllltles Not•8 to tho IlnaD¢l•l ststements 8-10 M•nagèmtnt Inf¢miatlon S¢h•dul•$
REFERENCE AND ADMINISThATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025 Trust••s Trusl8e8 during the year were.. M Parry, Chairman A P Machin, Treasurer Rev L Br8bin-Smith A whiOrth N Sardeson P Hobbs S Copsey One Twslee holds officg by virtue of being Chair of the Parish Councll. Thr80 Trustses arè nomlnaled by thè Parish Council. Two Trustees are ccwpled. Charlty roglstor8d number 249105 Prlnclpal offlce The Gables. Barff Road. Potterharbworth. Lincoln. LN4 2DU Thosè wlshing lo contact Ihe trustees should write to the above addross. A¢countsnt¥ Streets LLP, Tower House. Lucy Tower Street. Lincdn. LN1 IXW Bank•r¥ National Wg$tmlnster Bank p Investm•nt Cust¢dlan8 M & G Group, Chellenham Page I
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 202S The Trustees present their annual report together with the financial statements of The Culfrey Lands Charity Ithe charilyl for the year end8(J 31 December 2025. The Trustees confirm that the Annual report and financial statements of the charity c(pIY with the current statutory requirements and th8 r8quir8ments of th9 charity's governing document. Structure. governance and management a. CONSTITUTION The Culfrey Lands Charity incorporates the charities of Mary Briggs arKt Richard Newbee under an order of the Charity Commisyion datsd 27 Juty 1971. The Charity is reglstered under Ihe Charities ¢11960. number 249105. Thg pfincipal object of the charity is to appty surplus income in r81i8ving ailhar g8n8rally or Indlvidualty person8 resident in th& parish of Pottgrhanworth who afg in condilK)n of need, hardship or distress. b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES Tho management ol the charity is the responsibility of the Trustses. There are o'ExfflCio Trusle85,' one being the current Chair of the Parish Council and one bein9 the current Rector ol the ecclesiastical parish of St AndTOW in Potterhanworth. Three trustees are nominated by the charty andlor Parish Council. One trustee is co-opted from a business in or near the Parish of Potterhanworth. ¢. 08JECTIVES AND ACTNrrES The permanent copilal of the Charity comprises 15 acres {approximalelyl of arablg land. bungalows known as tho CulfTey Cotlages. and a Small amount of income producing invostmgnts. In accordance with Ihe Trust Dee(I, and after the expenses of man8gemenl of the charity's assets, a yearly sum 18 paid Iow8rds the maintenance of the Ioc81 churd) clock, and in the year ended 31 December 2025 the sum pald was £23412024.. £2341. The Trust deed also provides that an annual sum b8 paid to th8.Official Cuslodlan of Charities in respect of Extraordinary Repair Fund for the extraordinary ropalr, improvement or rgbullding of the almshouses and other propety- In the year ended 31 December 2025 £48012024.. £4801 was transferred to Ihls fund. The trustees spent £20.160 on replacing windows and doors al cottages during Ihe year. Subject lo the above paymgnls any surplus income may b8 appliod in religving either generally or intllvidually persons resident in the parish of Pottgrhonworth who are in cond¢lion of need, hardship or dlslress. The charily h8s conllnued to operate wtthin its charitsble purposes during the year, providing affordable accommodation in the Cufvy Cottages and making appropriate (*aTitable payments. The Trustees intend to continu8 wilh Ihis type and scalg of aciivity in th8 fvtvre. d. INVESTMENT POLICY AND PERFORMANCE The Trustees. investment policy is to secure reasonable rates of retum. induijing some element of participatlon in stock market movomonts, while minimising indNidual investment risks. This Is achieved by investing surplus funds in a mixttjre of unii-based investrnents designed specrficalfy for Ihe charity sector. with some investment in buikling society deposit accourts. Page 2
TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 e. GOING CONCERN After maklng approwiate enquiries. the trustees have a reasonable expectstion that tho charfty has adequats resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going ¢oncem basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. f. RESERVE POLICY The Trustees have a Reswv8s policy which is reviewed on an annual basls. or more frequently If deemed necessary. This review encompasses the nalurg of income and expenditure streams. the need lo match incomg with commilmenls. The Trustees have delem)in8d that f8SWVeS have to be sufficient to build conlSngency for unexp8cl8d repairs lo Ihe almshouses operated by the charity. This report was approved by the Tnjstees on 17 March 2026 an(1 signed on thelr b8half by.. A P MACHIN Treasuref Page 3
THE CULFREY LANDS CHARITY INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CULFREY LANDS CHARITY I report on the financial slalemenls ol the charity for the year ènded 31 Decemb&r 2025 which are sel out on pages 6 to 13. Thls report is made solely lo the charity's Trustees. as a body, in acrdanCe with secllon 145 of the Charities Act 2011 and regulations madg under section 154 of that Act. My work ha5 been undertaken so that I might slate lo the charitys Trustees those matters l am requiwd lo stalé to them in an Independent examinor's report and for no other purpose. To the lullesl exlenl permitted by law. I do not accept or assume responsibility lo anyone other Ih8n the charity and the charity's Trustees as a body. for my work or for this report. RESPECTIVE RESPONS181LrriES OF TRUSTEES AND EXAMINER The charity's trustees are responsible for the pparatiOn of the anIs. Tho charity's trustges consider that an audit is not requlred this year under section 144 of the Charities Acl 2011 Ilhe chatIeS Act) and that an independent examination is needed. It ss my responslbllSty to.. exarnine thg accounts under section 145 of Ihe Charilios Act. lo follow the Pfocedures laid down in the general Direc1K$ glven by Ihe Charity Commission (under section 14515llbl of the Charities Act. and lo state whether particukr mattgrs have come to my altenlion. 8ASIS OF INDEPENDENT EXAMINER'S REPORT My examination was carried out in accordance with general Oirections grven by the Charity Commission. An examination includes a review ol the accounting fecords kept by the charity and a cornparison of the accounts presented with those records. It aL80 includes consideration of any unusual items or disclosurgs in the accounts, and seeking explanations from the Iruslees conceming any such matt8fS. The procedure8 undertaken do not provide all the evidence that would be required in an audil, antl consequently no opinion is given as lo whether the accounts present a Yrue and fairf vW arKI the rep(xt is limited to those matt8rs Sgt out in the statement below. Page 4
THE CULFREY LANDS CHARITY INDEPENDENT EXAMINER'S REPORT Icontlnuedl FOR THE YEAR ENDED 31 DECEMBER 2025 INDEPENDENT EXAMINER'S STATEMENT In connedon with my examination. no material matters have come to my attentlon which gives me cause lo believa that in. any material respect= accounting records were not k8Pt in ac¢x*rdance with section 130 of the Chanties Act or the accounts do not 0rd wilh tha accounting r8cords I have come across no other matters in wnneC1ll with the examination lo whlth attention should be drawn In order lo enable a proper underslanding of the Unts lo bg reached. Llnda Lord Bsc FCA TEP Strgels LLP Tower House Lucy T¢)wer Strgets Lincoln LN1 1XW Datèd.. 24 March 2026 Page 5
THE CULFREY LANDS CHARrrY RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 Vnr•strl¢tod funds 2025 Total funds 2025 Tot81 lunds 2024 Nota RECEIPTS Investsment income 29.960 29.960 13,320 TOTAL RECEIPTS 29.960 29.960 73.320 PAYMENTS Property expenditure Adminislralion costs Grants Asset and investrnenl purchases 25,505 1.019 5,786 25,505 1,019 5,786 2,842 1,017 6,047 480 TOTAL PAYMENTS 388 NET RECEIPTSIPAYMENTS (2.8301 12.8301 2.934 Cash funds lasly88r end TOTAL FUNDS AT 31 DECEMBER 2025 The notes on pages 8 to 10 form part of thesg financial ststgmgnts. Page 6
THE CULFREY LANDS CHARtrY STATEMENT OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2025 2025 2024 Note CASH FUNDS Bank Current Account 4,824 1,994 4.824 INVESTMENT ASSETS Short Tem Investments 126,558 126, 716 ASSETS RETAINED FOR CHARirY's OWN USE Freehold LÈnd and Bulldings TOTAL ASSETS 135,795 138,783 . TOTAL LIABILITIES TOTAL AsseTS LESS LIABILITIES 13S795 The financial stslomgnts were approved by th8 Trustees on 17 March 2026 an(1 signed on Ih&ir behalf, by: M PARRY ChaSrman A P MACHIN Treasurer The notes on pages 8 to 10 fonn part ofthese financial sL*merts. Page 7
THE CULFREY LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 ACCOUNTING POLICIES 1.1 Ba$1$ of pr¢paratI¢ of flnanclal sL*om•nts The finan¢i81 $18lements have been prèpared under the historic81 eA)sl convention, with th8 èxcèption of inveslrnents which are included at market value. and have been prepared on the receipts 8nd payments basis and lake no account of deblots or eThdilors at the year ond. 1.2 Fund accountlng General funds are unre5tricled funds which are 8vai18ble for us8 8t the discretion of the Trustees in furtherance of the general objecttves of the charity and whkh have not been de3ignated for other purposes. Designated funds comprise unreslricled funds that have been sel aside by the Trustees for particular purposes. The aim and usè of each design8teO lund is sel out in the notes to the financial stalemenls. Investment Income. gains and 10s50$ allocatèd to th6 appropri818 fund. 1.3 Invostmonts Investments are stated at market valu8 al the balance shèèt dale. 1 A Repalr ¢08ts Repalr cosis Sncurred Sn the year are rellected in the Receipts and Payments Accounts. INVESTMENT INCOME Unr•$trlct•d fund$ 2025 Total fund$ 2025 Total funds 2024 Land rent Bungabw rent Wayleaves Caravan Storage Renewable Heal IncenlNe Oisposal proceeds from sale of shares Dfvidend income from shares 1.869 7.502 15 935 1.428 17.500 1,869 7,502 15 935 1,428 17,500 1,693 7,280 15 1,508 1,384 1,440 P8ge 8
THE CULFREY LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 PROPERTY EXPENDITURE Unrestrictad funds 2025 Total funds 2025 Total funds 2024 Insurance Water rat8S Repairs and rnainlenance Barn refurbishmenl r Source Pump ser¢8 Window Cleaning Cottage Renovations 674 570 3,261 $20 674 570 3.261 S20 647 539 1,612 44 360 156 20.160 156 20.160 ADMINISTRATION COSTS Unrestrlctod lunds 2025 Total fund$ 2025 Tofal lunds 2024 Accountancy fees Other subscriptions Postage 990 15 14 990 15 14 990 75 12 ASSET AND INVESTMENT PURCHASES Unre$trl¢ted funds 2025 Total funds 2025 Totgl lunds 2024 Curr8nt assgt investment addilions 270 27 Page 9
THE CULFREY LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 SHORT TERM INVESTMENTS 2025 2024 Cost Beginnlng of yèar Additions Accumulated income rfrinvested Disposals 83.323 83.023 270 30 23 115.5651 End of year Markat value FREEHOLD LAND AND BUILDINGS 2025 2024 Freehokl arable land., 15.468 acres (not valued) Fre8hokl bungalows.. 1 8nd 2 Cuffrey Cottag88 7,243 7,243 Page 10
THE CULFREY LANDS CHARrrY MANAGEMENT INFORMATION SCHEDULES FOR THE YEAR ENDED 31 DECEMBER 2025 THE CULFREY LANDS CHARrrY MANAGEMENT INFORMATION SCHEDULES YEAR ENDED 31 DECEMBER 2025 Pagè11
THE CULFREY LANDS CHARITY MANAGEMENT INFORMATION SCHEDULES FOR THE YEAR ENDED 31 DECEMBER 2025 CHARrrY FUNDS Deslgnated funds Extra ordinary repalrs Routlne Slnklng Fund malntenanc• Total Beginnlng of year 33.012 1058 91,646 126,716 Income revlnvesled 23 503 Transfer.. Repairs .117,5001 117,5001 Addltion8 UnreBlSs8d galnl(loss) on Investments 1,793 15.046 18.839 126 5S9 Genor•l fund¥ G•n8ral fund Beglnnlng of y68r 12.067 Oellcil of recelpls over payments {2,8301 End of thg year Total Unrestricted lunds 135796 Page 12
THE CULFREY LANDS CHARITY MANAGEMENT INFORMATION SCHEDULES FOR THE YEAR ENDED 31 DECEMBER 2025 INVESTMENTS Net book value Market value Market value 2025 2025 2024 HELD AS SHORTTERM (OR CURRENTI ASSETS Accumulated income.. 16,732 NAACIF income shares IM&G Inve51menlsl 13,832 17,305 33,012 760 NAACIF accumulated shares IM&G Inveslmenlsl 52.348 107,173 91,646 Routlnè malnt8nanc8 luNI: Natwgsl Busines8 Reserye Accounts 081 Page 13