Charity Number '. 252256
THE ARTHUR TOWNROW
PENSIONS FUND
REPORT AND ACCOUNTS
FOR ThE YEAR ENDED
31 MARCH 2025

THE ARTHUR TOWNROW PENSIONS FUND
REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
CHARif( COMMISSION REFERENCE NUMBER: 252256
CONTENTS
Page
1- 3 Truslees. Report
Independent Examiner's Report
Statement of Financial Actlvilles
8alance Sheet
7 - 9 Notes to the Accounts
10 - 12 Schedule of Investmenls

THE ARTHUR TOWNROW PENSIONS FUND
TRUSTEES, REPORT
The trustees submit Iheir report and the accounts for the year ended 31 March 2025.
ADMINISTRATIVE DETAILS
Tru$lees
Trustees. who also comprise the Committee of Manag8ment, are appointed in acc¢xdance with the regulations
contained in the Declaration of Trust and are currently as follows..
Successor of Margaret Warn8r dee'd
E J Froggatt (formerly E J Agulnikl Ichairpersonl
The Mayor of the Borough of Chesterfield
Cllr J Flood
The Vicar of the P8rish of Chesterfield
None curr8ntly nominat8d
The Superintendent Minister of the Chesterfield
Melhodlsl Circuit
Revd M Carrick
Nominated reprès8nlatives of..
Chesterfi8ld Borough Council
Bolsover Dlstrict Council
None currently nominated
Cllr J Wilson
North East Derbyshire District CouncAI
South Yoikshlre Communlty Foundation Limited
Sheffield City Council
National Council for Voluntary Organlsafjons
Co-opted trustees
None currently nomlnated
None currently nominated
None currently nominated
l Newby-Milton￿C0tt
A N Hay Ivice-chairpersonl
T Clough
K Gladders
P Mousley (resigned April 2025)
Bankers
The Covoperalive Bank plc
15 Elder Way, Cheslerfield
Shorts Chartered Accountan15
2 Ashgale Road. Chesterfield
Banner Jones
24 Glumangats, Chesterfield
JMFinn&Co
Salisbury House. London Wall, London
POBox48
Chesterfield. S40 1XT
Aecount#nts
Solicitor
Investment advisers
R•gl$teY•d address
Charity number
Socrotary
252256
S Dunwell
GOVERNING INSTRUMENT
The Charity is regulated by a Declaration of Trust dated 31 December 1966, modrfied by a Scheme of 20
February 1975. and approv8d by the Board of Charity Ccmmissioners for England and Wales.
Page 1

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THE ARTHUR TOWNROW PENSIONS FUND
TRUSTEES, REPORT - continued
OBJECTIVES
The objectives of the Arthur Townrow Pensions Fund are lo provide financial benefll. by the granting of
annuities, to certain women of limiled means.
The declaration of trust of 31 December 1966 distinguishes between annuitants who reside within the
Prlncipal Area of Benefit Ibeing the District Council Areas of Chesterfield. Bolsover and North East
Derbyshirel and those who reside elsewhere in England.
In order to be eligible for an annuity withln the Principal Area of Benefit all persons:
shall have already attained the age of forty years and ellher have never been married or are widows
without children, or
IITesp8clive of age, are widows with children.
However, a person who 15 resident outside the Principal Area of Benefit may only be granted an annuity if
she has attained the age of forty years and has never been married.
Furthermore, no person shall be granted an annuity unless she is-.
a membei of the Church of England and an adherent lo the doctrine of that Church, or
a member of a Protestant Church which acknowledges the Holy Trinity as taught in Ihe Church of
England.
POLICIES ADOPTED TO FURTHER THE OBJECTIVES
In order to try and achieve these objectlves the trustees have had leaflets printed and circulated Including
publications in Church of England and Protestant magazineslnewsletlers which explain the principles of the
fund. They are also in continual contact with other charitsble and caring organisalion5 throughout England
for prospective annuitants. In this day and age the annuities paid are predominandy to elderly women and
the trustees remain vigilant in their efforts to secur6 further awards lo those of limited means who fulfil the
conditions of this charity.
There have been no material changes in these policies since the last report.
REVIEW OF THE ACTIVITIES AND ACHIEVEMENTS DURING THE YEAR
In planning the trust's activities the trustees keep in mind at all times the Charity Commission's guidance on
public benefit as well as the specific objectives of the Fund.
There were 140 annuitants al 31 March 2025 (2024.. 1541 and payThents this year tolalled £106,20012024'.
£111.4801. Annuity payTnenls remained al £60 per month throughout the year making a total of £720 per
annum to existing annuitants, as in the previous year.
The investment strategy is d8signed to maximise income with a broad spread of investments lo minimise
risk and the portfolio is managed by J M Flnn & Co., one of the count￿S leading inveslmenl manager
companies.
FINANCIAL REVIEW
Investment Income lotalled £130.699 this year, compared to £133.566 in the previous year. This represents
8 4.53% relum on the current cost of the investments compar8d lo 4.430A last year.
Expenditure other than annuity payments tolalled £48,584 for the year compared to £47,367 in 2024.
Overall nel incomellloss) before gains or losses on investments was a loss of £21.341 leaving the
Unreslricled Income Fund with a balance of £212,900 to be carried forward 81 the year end.
The market value of the Fund's Ir)vestment portfolio has fallen by 5.12V. from an opening value of
£4,350,652 to a closing value at the year end of £4,128,006
Page 2

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THE ARTHUR TOWNROW PENSIONS FUND
TRUSTEES. REPORT - continued
RISK REVIEW
The Committee of Management has conducted a review of the major risks to which the charlty is exposed
and systems have been established lo mitigate these risks.
The Iruslees Gonsider that the major risk the charity faces is that ils investment income will be insufficient to
m8et ils objectives. This risk is controlled by a regular review. aided by professional investment managers,
of the charity's investments portfolio. The risk profile of the investment portfolio is medium risk wth no
minimum percentage of low risk investments.
RESERVES
The trustees deem it prudent to maintain reserves equ81 to approximately three years, projected
expenditure. Thg trustees consider that at 31 Mar¢h 2025 the charity's resources arg adgquate to enable it
to fulfil ils obligations in the for8seeable future.
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance
wilh applicBble law and United Kingdom Accounting Slandards Iunited Kingdom Generally Accepted
Accounting Practs'cel.
The law applicab18 to charities in England and Wales requires the trustees to prepare financial statements
for each financial year which give a true and fair view of the stale of affairs of the charity ané of the incoming
resources and application of resources of the charity for that period. In preparing these financial statements.
the trustees are required to..
select suitable accounting poliaes and then apply them ¢onsistenlly',
observe the methods and principles in the Charities SORP.,
make ju¢Jgements and eslimales that are reasonable and prudent..
slate whether applicable Accounting Standards have been followed. subject tr) any material departures
disclose(J and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable
accuracy al any time the financial position of the charity and enable them to ensure that the financial
slalements comply with the Charilies Act 2011. the applicable Charitie5 IAccounls and Reports)
Regulations, and the provisions of Ihe trust deed. They are also responsible for safeguarding the assets of
the charity and hence for tsking reasonable steps for the prevention and detection of fraud and other
INDEPENDENT EXAMINER
H K Freefflan has expressed his willingness to continue in office and a regolulion lo reappoint him as
independent examiner will be pul to the trustees al Ihe annual general meeting.
Approved by the Trustees on 6th October 2025 and signed on their behalf by..
Chairperson
Page 3

LI￿￿￿1￿1 l uivviuy¥ iu.
THE ARTHUR TOWNROW PENSIONS FUND
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
I report lo the charity trustees on my examination of the accounts of the charity for the year endèd 31 March
2025.
This report is made solely to the charitys Ituslees, as a body. in accordance wlh Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My examlnatlon has been undertaken so that I mlghl slate to the
charitvg trustees those matters which l am required to state to them In an Independent examiner's report and
for no othèr purpose. To the fullest extent permitted by law. I do not accept or assume responsibility to
anyone other than the charity and the charilws trustees, as a body, for my work or for this report.
Respon$lbllltle$ and basls of report
As the charitls trustees you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 2011 I'the Acl'l. The trustees consider that an audit is nol required for this
year under section 144 of the Acl and that an indopendenl examination is need8d.
I report in Te5pecl of my examination of the Gharitls accounts carried out under section 145 of the A¢t and In
carrying out my examination I have followed all the applicable Directions given by the Charity Commission
under sgclion 14515llbl of the 2011 Act.
Indep•nd•nt oxaminerfs statement
I have completed my examination. I confirm that no material maller5 have come to my attention in connection
with the examination giving me cavse to believe that in any material respect..
accountin9 records were not kept in respect of the charity as required by section 130 of the Act- or
2. the accounts do not accord wth those records- or
3. the account5 do not comply with the applicable requirements concerning the form and content of
accounts set oul in the Charities (Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and fair view which is not a matter considered as part of an Independent
examination- or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practice for accounting and reporting by charities applicable lo charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland {FRS 1021.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order lo enable a proper underslanding of the accounts to be
reached.
Fvwk
H K Freeman FCA CTA
Chartered Acct￿ntant
2 Ashg8le Road
Chesterfield
Derbyshire
S40 4AA
6th October 2025
Page 4

LIUWblyII CIIVelUV¥ IU. Imil
THE ARTHUR TOWNROW PENSIONS FUND
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
Unrgstrict8d
Income
fund
Permanent
ondowment
fund
Total
funds
2025
To(al
fiinds
2024
Notes
Income
Investment income:
Incomè from UK listed investments
Other Income IBaskeWield Income)
Bank interesl
130.699
130,699
133.566
2,744
2,744
2,942
Total Income
133,443
133,443
136,508
Expendlture
Raising funds..
Investmenl management charg85
Charitable aclivilies_'
Annuities
Adminislralion costs
20.832
20,832
20,120
106.200
27,752
106,200
27,752
111.480
27,247
Total Expendlturè
154.784
154,784
158,847
Net incomellexpendlturel bgforg galn$ and
losses on invostments
121.341)
121.341)
(22,339)
Other ReGognised Gainsl(Losse5)
Gainsl{Lossesl on investments..
Realised
Unrealised
73,618
196.4421
73.618
{96,4421
91,577
71,627
Net Movement in Funds
(21,341)
122,824)
144.165)
140,865
Roconclllatlon of Funds
Funds brought forward at 1 April 2024
234,241
4,303,906
4,538.147
4.397.282
Funds carried forward at 31 March 2025
212,900
4.281,082
4,493.982
4,538,147
Page 5

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THE ARTHUR TOWNROW PENSIONS FUND
BALANCE SHEET AT 31 MARCH 2025
Not95
2025
2024
Flxed A¥801•
InveSt￿nts
4,128.006
4,350.652
Current A65•ts
D8btors
Cash at bank
227,362
147,134
44.769
151.186
374.4
194955
Cr•ditors'.
Amounts falllng due wthln on8 year
8.S20
8.460
N•¢ Current Assèts
365,976
187,495
14•t A¥xts
4,493,982
4,538,147
Fund$
u￿estricted income fiJnd
Perm8nenl erKlovAnent fijnd
212.900
4,281.082
234,241
4,303,906
4,493.982
4,538, 147
roved by the TnJ$tee$ on 6th O¢tober 2025 and slgned thdr behalfby..
E J Frogg•tt
Ch8irp8rson
ANH•y
c8.chairper80n
P8oo 6

THE ARTHUR TOWNROW PENSIONS FUND
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES
Basis of Accounting
The financial statements are prepared under the hlstorical cost convention. as modified by the
revaluation of investments. The financial statements have been prepared in accordance wlh the
Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021 (effective 1 January 2015) - Icharilies SORP IFRS 102}I, the Financial Reporting
Stsndaid applicable in the UK and Republic of Ireland IFRS 102) and the Charitles Act 2011.
Cash Flow Statement
Advantage has been taken of the exemptlon granted to Small entities from the requlrement to
present a cash flow ststement.
Investments
Investments are stsled at the market value at the year end. The surplus or defic4ency on revaluation
is tskgn to the Statement of Financial Activities.
Incoming Resources
Voluntary income is brought into account when received. Investment income is Included in the
financial statements on an accruals basis.
Rosources Expendod
Annuities paid and administration cost5 are charged on an accruals basis.
Fund Accountlng
Unrestricted funds comprise the accumulated surplus or deficit on the income and expenditure
account. They are available for use at the disGrelion of the ITUStee5 in furtherance of the general
objecliv8s of the charity. The permanent endowment fund represents funds Ithere the capital Is held
until the objectives of the charity are satlsfied.
2 ADMINISTRATION COSTS
2025
2024
Secretarial Services
Independent examiner's remuneration:
Fees for independent examination
Other services
Costs of Iruslees, meetings and other expenses
Printing, stationery, postage and computer equipment
Computer expenses
17,500
17,000
9.240
9.240
232
780
154
853
27.752
27.247
Included above is reimbursement of expense for 1 trustees totalling £85 12024.. £130 for 1 trustee)
which usually comprlses attending trustees, meetings and travel and accommodation for meetlngs
th the Fund'5 investment advisers.
Other than as mentioned above, no trustee or connected person received any remuneration or
benefit from the funds of the charity in 8ither this or the preceding year. Th8re are no other related
party transactions Ihat require disclosure.
Page 7

THE ARTHUR TOWNROW PENSIONS FUND
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 (contlnued)
2025
2024
FIXED ASSET INVESTMENTS
UK listed investments..
Market Value 1 April 2024
Aéditions
Disposals
Net investm8nt gainslllossesl
4,350.652
194.036
1393,8581
122.8241
4, 160,501
253, 716
(226, 770)
163,204
Market Value 31 March 2025
4, 128.006
4,350.652
Historical Cost 31 March 2025
2,884,658
3,010,864
DEBTORS
Accnjed investment income
Income lax recoverable
Funds in hands of the stockbroker
2.028
2,638
225,334
42, 131
227.362
44, 769
CASH AT BANK
Deposit accounts
CuThent accounts
49,030
98,104
48.243
102,943
147.134
151.186
CREDITORS.. Amounts falllng due wlthln one year
Annuities for March 2025
Accruals
120
8.400
60
8,400
8.520
8.460
Page 8

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THE ARTHUR TOWNROW PENSIONS FUND
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Net
¢urrent
assets
Tolal
2025
Investments
Unrestricted Income Fund
Pemianenl Endowment Fund
72,258
4,055,748
140,642
225.334
212,900
4,281,082
4,128,006
365.976
4,493,982
Not
current
assets
Totsl
2024
Investments
Unrestricted Income Fund
Permanent End¢)wThent Fund
88.877
4,261,775
145,364
42,131
234,241
4.303,906
4,350.652
187,495
4,538,147
TAXATION
As the Fund is a registered charity it IS gxgmpl from taxatlon on its incom8 and capltal gains. The charity
has borne value added tax on its expenditure where approprlate.
Page 9

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THE *RTHUR TmRoYlPtNSONSFU￿j
SCHEDULE 0F￿vESTmENTSA[IDlmVEST￿ENT11¢o11E FOR THE YEAR EN￿D 31 MIRCH 2025
N4th
JiJ24
&￿IL¥S￿¥4$
IW.7C
101.93
51l114
135.iZ5
5￿.4￿5
13.
13,062
1¢4Go
IA588
594.026
4.121M6
dU￿r
ap
IA¢tyi¢
rn¢
J1124
31125
JIA25
E4dtyJhwo6
¢vns￿E￿U$Ith0*
214107
?20.W
73.510
M770
IS.llDtsI)thIry￿M￿QI￿SS0￿
3.310
7.tsl
,580
J.7Sts0r&￿￿ShWo
51.072
141,
Ji,uS
112.6S4
lrnpvy
EOIO
122,ts5
1.7So
1&127
Wa￿¢
J5Aw0th￿ty*h￿•l￿£0.
71.175
930
I￿470
1.4
¥3Ji
Pl.12lll
iaJ
i.SS>.M4
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ThE ARThLIR TQW+4RQW PENSIQNS FUPJD
SCHEDULE OF INVESTMENTS AND WVESTMENT INCOME FOR THE YEAR ENDED 31 MARCH 2025 (¢onNttu
PJ4rk•t
duilw
ye41
i¢rffj•
31.324
¥112¥
EquMyShor•• l¢on*lnued)
UgNf¢rwitd
1.7¥7I1
32,372
23.356
1.5S1$44
8*254
4460fj.98
46.50$
NalwwlGrhJ
119700hlTh*ShwrysDfED.124312B9
14J.
2¢2F7
I￿.154
8J23
7.3￿>
97,752
63.748
PolE1C*lthlFthidsGthAlr￿￿nCts
2D.QOO&Iw
1•7.450
1￿.53F
42S4
1.*D otdln*ryS￿mE￿£o.lO
75.155
16,4581
69.79
5.070
TC¥ptslPwWrJ
&.￿ OtdIDArySha￿￿oltl.(o
1DS.96fj
113.1
102,561
2.$40
6.rth T'¢)rdinory5hwEgoIEO.07
1$7.5tyJ
12,0
169.500
6B.370
OA75
&262
SegroP*
15,W)trdG8PQ.ID
131.$
131.ISQI
114.133
i.000￿&￿TEA
.745
1Te.C45
2.944
Smith& Wph
I￿.a￿ Otdlrparysha￿dVSIo2o
99.1
9,310
108.5
SJ.449
2,959
Jffj27
2Sr164Qi¢lnary5bamolEQ.1D
43.TlO
4A82
TP
4•.oOOO￿￿￿ryS￿I•5dtO.l6
110.3
16￿12
128A20
7,252
4,223
Sl¢xkDfUSSO.10
7.777
S2￿?3
4,517
4￿67
VNI
7SDCkn'A'Sharn&olU5ts10.001
185.m
J7A64
303.455
52A45
.fj7S
121
4257
5,782
i.crtQ Th41￿ry5ha*oSI1£?4u.￿4￿1
161,485
10,7
215.110
141302
Qttsnary*anrkulE001 4dd 24Y24
W￿d$¥j* Er￿s￿¢￿UpL￿ O¢dNWIDII
2024
Prynn￿ Gr￿p
ds* ot£O.6105- ￿ld2024
&Sql,474
$7.15$
¥,Th)
1,1¢Q.¥
110,719

TheARTHUR TI)WNRowpeN$IOK FUND
SCHEWLE OF INVESTIENTS MID WVESTMENTINCOMÉ FORniEYE*A ENDED 31 2D2SlcOnlknued)
duthg
gilni
J1.J.24
at
31.&16
Jijis
G¢N•rnmHhtS•EurllleB
£12&00tsD 25%BDS
rrllJurySkntk2026
È7S,OllO I25%1r￿u￿￿in
EI2S,IN
1483.97
t125,QtyJ4.26%Tr¢tsw￿
IZ6.475
114.462
4.925
E150000LI4 T(Hi￿ry￿ko.12SXJlffjIJ&u10
135,426
1Y4,985
135.438
D,￿]￿1
39y,455
416aSO
13.$40
A¢quW
durf
duih79
g•lns
202S
2024
InvHlm•Trt ¢timp￿1
42.265OTOn?ry*•wo1£00001
iio
1V.T42
7.¥2
Juphi ￿lIT￿&tV￿￿¥#n%
S￿4[￿9*￿29#,9SSI7Z￿
IW.446
lS&fAS
201J47
1107
tr,499
273.S55
Z5B.461
3Q5.gBg
lQ480
15.566
Puyp 12