WARWICK PROVJDENT DISPENSARY FINANCIAL STATEMENTS 31 DECEMBER 202S
WARWICK PROVIDEprf DISPEf4SARY INDEX ANNUAL REPORTOFTHE TRUSTEES INDEPENDEKf EXAMINER>S REPORT STATEMENT OF FINANCIAL ACTIVITIES {2025) COMPARA TIVE STA TEMENT OF FINANCIAL ACTIVITIF5 (2024) BALAf4CE SHEET ACCOUNTING POLICIES 9-12. JYOTES TO THE FINANCIAL STATEMENTS
Pnge I 'ARIVICK PROVIDENT DISPENSARI, ANNUAL REPORT OF THE TRusfEES For tht ytr Èhded 31 D¢ttmbtr 2025 Charity Registrdtion Nun)ber= 253987 (England & Walesl Principal Addre95 ofcharity., clo Mr C E R Houghion MO0 & Tibbiis 34 High Str¢el Warwick CV34 4BE Clerk io the Charity.. C E R Houghion Esq Moore & Tibbi¢s 34 High Streei Il'hrvick CV34 4BE Cwied Tnjstees.. Mr D E Hanson- Resigned 26 June 2025 Mrs T Aik"ins- Chairnian Mr5 M Hlmyper Mr5 H A Vedy Mr S Morley M5 R Badhams- Appoind 27 February 2025 Mr C Mordauni- Appointed 26, Junt 2025 Nominaiive Trustees.. Mrs J Topham Bankers.. Llosds Bank plc 7) Parnde Leamington Sp CV32 4BB Soliciiors= Moore & Tibbils FIOOT Wesigate House Market Sire¢i Warwick CV34 4DH Independent ExamiTr¢r'. Mark D Harwood FCA BFP FMAAT Michael HaTwood & Co Charfered Accountants Greyille House 10 Jury Sireet Warwick CV34 4EW Investment Advisery.. Brem'in Dolph5ll Liinited Woodstock Coun Blenheiin Road Marlborough Wiltshire SN8 4AN
Page 2 WARWICK PROVIDEIYT DISPENSARY ANNUAL REPORTOF THE TRUSTEES For ihe year ended 31 December 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT The Charity is regi51ered with the Charity. Comrnissioners for En8land & Wale5 (Registered NumbEI 25)987) and is regulated b). Schemes sealed on 24 March 1969. The Charity has an ¢xe¢utive committee of 7 Trustee3 who meet three times a >pear and ar¢ r¢5ponsible foT the stratrgic diTection and policies of ihE chatity- The Trustee5 have delegared day to day responsibility for admini51r4tion of th¢ Charity io the Clerk of the Charity. The induciion process for a new Tn15tee is as follows.. The Chairman ivill meet with the DEW. Trustee ro explain oll 4spectg of ihe Charity and to provide all relevant infomiation regarding Trt. The Clerk to the TTU5te¢s will write to the D¢iv Thisree with a copy of the scheme governing ih¢ Charity and a copv of the last se( of accollnis. The Chaimi8n and the Clerk io lh¢ Trusiees will also provide all assis¢¢ and infomation Thec¢5shry for the new Trustee to bErom¢ familiar wilh the workings ofihe Chariu, and their respDnsibilities. 0CTIVEs AND AcfiviTIES The objecl of The Chariry is the provision of relief10 persons who are sick. coftvales¢enl, disabled or infirm and are resident in the Borou8h of Warwick. The scheme sealed on 24 March 1969 appoint5 the Twstee5 of IhE Charity. The TNstee5 have had due regarrt io the guidance published by The Chariiy Commissioners on public benefit. and ¢on5ider that the objectives and aciivitie5 of IhE Chartty fulfil this requir¢m¢nT for the benefit of th¢ local community. ACHIEVEMETr4TS AND PERFORMANCE Durlng ihe year the Cliarity made 14 awards to the Ioc81 choritie5 Jnd Instiwtions. The Charity eontinue5 to carry out its objecliyes. FINANCIAL REVIEW In the yeèr 10 31 December 2025 the Churity made o s1p]uS of £55,437 (2024- £10,870) having paid out grants of £54,497 to beneficiaries (2024- £24,497). Unres(Ticled funds siood at £140,251 al 31 December 20?5 (2024 £82,849). These funds comprise nel ¢urrEni assets of £78,839 (2024 £31,134) and £61,412 (2024 £51,715) of the Charity's iDvestmeTht in COIF Ini'esiment Fund as di5¢105¢d in not¢ 8 to ih¢ financial siarement5. Endowment Funds stood al £1,036:55912024 - £985.875). The Tn]5ree5 have agreed a policy wh¢r¢by unTestrickd funds held by thr ChariD' And noi commitied or invested. should be invest¢d and accuTnulat¢d. The Charity purchised a commercial PTopety in MAY 2022 and ¢hi5 would produce a yield of apwoximately 7.50/0. RISK REVIEW The Trustees have Consided the kS lo which the Charil}' is exposed and have e5thbltshed s)'51¢m5 for miiigaiing rhose Tisks. Th¢ risks arc now ljmiied to inve5tmeni risks. The TTUStee5 believe Ihai by investing its funds in CCLA Invemmcnt Managers Limited and Brewin Dolphin Securities Limited which are peTiodically revi¢'ed, Ih¢se risks are minimised. The Iru51ee5, having acquired the freehold Tei'er5ion of 13 Swan Sireei. Illarw'ick, have resolved to build up a prope)ry reseTve fund of approAimiiely £75.000. to be invested in COIF income shares, lo be uli11s in the case or void5 or Tepatrs to the PToperTy. INVESTMENT POLICY The Tmstees have consiikred the most appropriate policy for investing funds and in conjunction with the Rcxerves Po5icJ have decided thai appmximaiely £25.000 should be kepi immediately available io meet poteniial granl
pplications.
Page 3 WARWICK PROVIDENT DISPENSARY ANNUAL REPORT OF THE TRUSTEFS For ih• )'ear ended 31 D¢¢ernber 2025 FUTURE PLANS The Charity will ¢ontinue io provide reliefco persons who are sick. ¢otivales¢ent, disabled or infLrnI and are Tesideni in Ihe Tvwn of Warwi¢k. STATEMENT OF TRUSTEES RESPONSIBILITIES The Schemes sealed on 24 March 1969 require the Trustees to piepare financial sratemenis for each financial year nd ITaTJ5mii the stat¢rn¢nls lo ihe Charity Commissioners in accoTdanc¢ wilh the provisi0115 of ihe Charities AGI 2011. The Trustees are respon5ibl¢ for keeping proper accouniing records with r¢spe¢t its th¢ TtW51'5 tyansaciions and its &sse15 liabilitie5 which disclose, wiih Te3son)ble accurac>' at any lime, tlie finan¢ial p051tion of the Tnjsi. The Tru$iee$ are also responsible for rhe establishmeni and maintenance of a 5&tisfa¢iory system ofcontrol of its books of accourtl, its cash holdings end all it5 receipts and iemittances to ¢nabl¢ ihejn to ensur¢ thai the financial Statements compl), with the schemes. The Twsiees are a550 respon5Lble for safeguarding the a55¢t5 of Éhe Trusi and hence for taking reasonable Steps for the prevenlion and deieciion of fraud. The Tru¢¢5 have fulfilled these responsibilitie5 to the best of ihtir ability. On behalf of thc TTUStees Slgned Mrs T Atkins- Chairma Date: 25, June 2026
Page 4 If4DEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WARWICK PROVIDENT DISPENSARY CHARITY NUMBER: 2S3987 I report on my examinaiion of thr accounts of the Chariiy ("Ihe Try51") for the yeai ended 31 Decernber 2025. whieh awe set out on pag¢s 5 12. Re5ponslb51111es of Truste¢5 Ind Examlmer I report iyi respect of my examination of ihe TNs1's accoun15 carried Qui vnd¢r section 145 of the 201 l Aci and in carrying out my examinaiion, I have followed all the applicabl¢ Dtreriion5 given b> the Charity C¢)mmi5sion under sectiaTr 145(5)Ib) of the A¢L. Independent Eygmlner's st8tem¢ffjt I have complEted my examination. I wnfirm thai no material maiters have ¢ome io n)y attention in connecrion with Ihe examination which gives me ciu5e to believe thai in, any rnaieiial Tespeci.. The dc¢oun¢ing records were noi kepi in aeciJrd311ce iviih section 130 of ihe Charities A¢t- or Th¢ &ccounts did not acco wilh the accountin8 record$; or The accounig did noi comply with ihe applicable requiremenrs concerning ihe fomi and ¢onient ofaccounrs set ou¢ in thc Charilies (A¢counts and Reports) Regulaiion5 2008 oiher thun Any requirement rhat the accounts give & 'mie and fair. view which is Ilot a matter considered a5 part of ind¢pEndent exaniinatiori. I have no concerns at)d have come across no other matters in connection with the examination to which atienlion should be drawn in this report in order io enible a proper under51anding of the accounts to be reached. Mirk D Harwood FCA BFP PMAAT MICHAEL HARIVOOD & CO Chartered Aeeountants Crevill¢ House JO Jury Stre¢l Worwick CV34 4EW Dfii¢: IS TLLhQ 2D£
Page 5 WARWICK PROVIDENT DISPENSARY STATEMENT OF FINANCIAL ACTIVITIES For the ytar ended 31 December 2025 UNrestrictcd Endowment Funds Funds 2025 Tot81 2024 Tot31 Notes IF*COME AND ENDOWMENTS from: Dividends from investment5 Rcnl&l income Interest Donations 11.796 26,255 9.667 75,000 11,796 26.255 9,667 75,000 26.017 9.693 TOTAL INCOME AND ENDOWMENTS 122,718 1)2.718 47,879 EXPENDITURE on: R4S$ing fuNd5 InvestmEnt managemeni fees 4,768 4,768 4.651 Charitable actlvltlts Grants awarded and paid 54.497 54.497 24,497 54.497 4,768 59.265 29.148 Other ¢ost5 Clerk's fee5 Indep¢ndelli Examiner's fees Accountan¢y Professional fees Insurance Sundrie5 4.646 1,570 530 15 1,255 4,646 1.570 530 15 1,255 4,686 1.550 508 100 1,017 8,016 8,016 7,861 Total expenditure 4,768 67,251 37,009 NET (EXPENDITURE) b¢for¢ Iransfer And 8ain51(1055es) 60,205 (4,766) 55,437 10,870 Transfer between funds NET {EXPENDITURE) brfore gaiii$lllo$$e5) (4.7681 55,437 10.870 Realised (lossesllgains on sale of fixed asse1$ 8.509 8.509 {1,8461 NET INCOME 60,205 3.741 63.946 9.024 Other reeognlstd gain5 and lomes Unrealised 8ains on ralUar1 orrixEd u55ets 12.8OJ) 46,943 44.140 10,920 NET mOVEmEr JN FUNDS 57.40? 50,684 108,086 19,944 RECONCILIATIONS OF FUNDS: TOTAL FUNDS BROUGHT FORWARD 82.849 985,8?5 1.068.724 1,048,780 TOTAL FUIYDS CARRIED FORWARD 819 £140,?51 £1,036,559 £1.176,810 £1,068,724 All incorne and expenditure derive froni Coniinuing aclivitie5. The noi¢s tsn pages 8 10 12 fomi part of the5E financial 5fDiernents.
Page 6 WARWICK PROVIDENT DISPENSARY STATEMENT OF FINAf4CIAL ACTIVITIES For the year ended 31 Dectmber 2024 Unresiri¢t¢d Funds Endowment Fund5 2024 Totgl Notes INCOME AND ENDOWMENTS from: Dividend5 from invE51ments Rental Income Inier¢s1 12,169 26.017 9.693 12,169 26,017 9.693 TOTAL INCOME AND ENDOM'MENTS 47.879 47,879 EXPENDITURE on: Raising funds Invesm)¢ni management fees 4.651 4,651 Ch8ri18ble getivltlcs Grants gm'arded and paid 24,497 24.497 24.497 4.651 29,148 O(h¢r costs Clerk's fe¢s Independent Examiner's fees Accouniancy Professional f¢es In5urnnce Sundries 4,686 1.550 508 loo 4.686 1,550 508 100 1,017 7.861 7,861 Totsl exptnditure 32 J58 4,651 37,009 NET (EXPENDITURE) before tr4nsfer xnd gasm(lo$S¢$} 15.521 (4.651) 10,570 Tran5ftr beten funds NET (EXPENDITURE) before 8ainsl(Iw5e5) Realised (lossesygains on sole of fixed asset5 (4,6511 10,870 (1,846) 11,846) NET INCOME 15,521 (6.497} 9.024 Other reeognlsed g85ns 10s$t8 Unreali5ed gains on revaluaiion of fixed assets 604 10,316 10,920 NET MOVEMENT IIY FUNDS 16.125 3.819 19,944 . RECONCILIATIOPISOF FUNDS: TOTAL FUNDS BROUCHT FORWARD 66,724 982.056 1,048,780 TOTAL FUNDS CARRIED FORWARD 819 £82,849 £985,87.% £1,068.724
Page ? IVARWICK PROVIDENT DISPF.NSARY BALANCE SHEET 31 Decern ber 2024 Nores 2025 2024 FIXED ASSETS Investments Investtnent property 758,845 330,000 700,212 330,000 l.Q88,845 1.030,2 52 CURRENT ASSETS Debtors, amounts falling within one year Lloyd5 Bank- TrevrerS Awount COIF Deposit Accouni Brewirt Dolphin Capital A¢count 2,907 11,508 106,935 9,1?6 2,046 30,626 7.378 TOTAL CURRENT ASSETS 130,476 51,062 CREDITORS: AmLlUllts f&llTng due within one l'ear (42,511> (12,5501 CURRENT ASSETS LESS CURRENT LIALIILIT5F.S 87,965 38,512 TOTAL ASSETS LESS CURRENT LIABILITIES 1,176.810 1.068.724 NET ASSETS £1.176,810 £1,068.724 THE FUNDS OF THE CHARITY Rcstricted funds Pem)aneni Endo¥vmeni 819 1,036,559 985.875 Unre$tri¢ted funds General fund Property R¢pJir fvnd 819 819 78.839 61.412 31.134 51,715 140,251 82,849 TOTAL CHARITY FUNDS £1.176.810 £1.068,724 The fiiiancial statein¢nt5 w'er? approbed b), the Board ot Trusiees on 251 June 2026 and 'ere signed on 115 b¢half b> Irs T Atkin$- Chalyman The notes on page5 8 to l? fo p&rt of these financial statem¢nt5.
WARWICK PROVIDENT DISPENSARY Page 8 NOTES TO THE FINANCIAL STA TEhlENTS For iht year ended 31 Dectber 2025 BASIS OF ACCOUNTING The Warwick Provident Dispensary is a charity registered in England and Wa1¢5 since 1969. The address tsf the registered oifice is gaven in tlie chariry inforn)81ion on page l and the nature of th¢ Charity's operations attd principal a¢¢iviiies are giveTh on pages 2 and 3. The Charity ¢OnStiiuies a public benefit entiry a5 defined by FRS 102. The financial slat¢men15 havB been prepared in accordance with A¢¢ounting and Rfponing by Chariiies.. S(aleineni of Recommended Pra¢iice oppIic%Lble to tharitie5 preparing iheiT accounts in accordance with the Financial Reponing Standard pplicable in the UK and Republic of Ireland t5sued in O¢tober 2019, the FinuDcial Reporting Standard applic8ble in ihe United Kingdom and Republic of Ireland (FRS 1021, the Charities Act 2011 and UK Generally Accepted Prartice as il applies from l January 2015. The accounrs do noi include a cash flow statement on the grounds thai ¥1 is applying FRS 102 Section IA. The fin8neiyl statements ore prepared on a going ¢oncern basi$ under Ihe histDrical cost wnveniion. modified 10 include certain irem5 ai fair value. The financial STatemen15 aTE pres¢nl¢d in sterling which is lh¢ funriional currency of th¢ Ch4rity aThd rounded io ihe nearest £1. INCOME AND ENDOWMENTS IncDme from inYesthL¢nt5 is accounted for on an accNals ba515. Renial income from inve5tmenl properN is included in Ihe financial 51aiements on a receivable basis. EXPENDITURE EXpdi1re is accounied for on an accTuals basis. Grants aT¢ paid out in accord¢¢ wilh the Charity's stated Objec on a rommitted basis. INVESTMENTS Inirestments ale valved at Tnad(et value. The 5urplusldeficil arising on the revaluation has been Iransferyed Lo The appropriate funds. FUND ACCOUNTINC End0[Thent funds ar¢ funds which have been given to the Charitv subjeci to the Testriciion rhey are to be held as capilal. The endowrnent fund is ttpre5eni¢d by invesirnenrs and property. Incomc arising from these asS¢tS IS transfe*Ted to the genETal fund General nd comwises the accumulated surplus on the income and ¢xpenditurE accounr. They arr available for use at th¢ di5creti¢)n of the Trusiees, in furtherancE of the objeas ofihe Charity. Property repoir fund is set aside lo rneel property costs during void peTTod5. exceptional and yninsured expensts relating to 13 Swan Street.
Page 9 WARWICK PROVIDENT DISPENSARY NOTES TO THE FIIYANCIAL STATEMENTS For the year ended 31 December 2025 GOINC CONCERN The financial statemenrs hJY¢ been prepared on a b)oin¥ roncern basis a5 the tru51ees believe ihai no m8t¢rial un¢ertiinties exist. The Trus(ees have ¢onsideTed ihe level of fuTids held and rh¢ expe¢red 5evel of income and expenditure for 12 months from authoTi5in8 these financial slal¢m¢n15. Th¢ budgeted income and expenditure is sllfficient with the leN'el of reserves for ihe Charity to b¢ able to continue a5 a going concern. TAXATION The Chariry is exempl frum income tsk Ysnd capiial gains iak withits ihe exemption granted by Sections 521- 536 Income Tpxe5 Aci 2007. The Chaiir>' has borne VAT on 115 expendilure *here appropriate. CHARIT ABLE STA TUS The Charity is ¥egisiered with ihe Charity Commissioners for England and Wales No. 253987 Dnd is re8ula¢ed by the TnJ5t Deed datrd 24 March 1969. DIVIDENDS AND INVESTMENTS 2025 2024 Portfolio dii'idcnds COIF dividend 10259 1.537 11.233 936 £11,796 £12,169 GRANTS 2025 2024 During the 5¢JT the irusiecs made th¢ following grants.. WNAA On H05pi¢e Springfield NllND Amonico Conson Molly Olly'$ IIPishes NMC Midland5 Shine a Light 0heS1 of the SH'an Safeline Priory Pools Project Individuals 3,000 5.000 5,000 3.000 3.000 3,865 3,500 5.000 1.000 2.000 1,000 i.joo 2,500 2.000 30,000 4,697 3,13? £54,497 £?4.497 During Ihe year the ¢haTlI)' made 10 awards lo Institutions ond 6 10 individuals.12024 - 9 award5 10 illSlituiion5 and 3 10 irhdividua15).
WARWICK PROVIDET4T DISPENSARY Page 10 NOTES TO THE FINANCIAL STATEMENTS For ihe year ended 31 December 2025 FIXED ASSET INVESTMENTS 2025 2024 Market value l January 7025 Aquisiiions at CO8t'. Share Portfolio Purchases Disposals of Tnvestmenis Nel biainl{losses) tsn revaluation ai 31 December 2025 700.212 669.46? lJ6.132 {121,639) 44.140 {IIKI,384) 10.920 Market value 31 Dectrnber 2025 £758.845 £700,212 InveMmenis comprise.. MArket Value ¥t 31.12.2S ork Value at 31.12.24 ),17812024- 2,548) COIF Charity Fund Income Shares Brewin Dolphin Investment Ponfolio 61,412 697,433 51.715 648.497 £758.845 £700.212 The above invesmienis are &ll held wiihin the UK. During Ihe year, the TnJstec5 bought 630 of COIF incoine shares for £12.500. lTrvestment gtills compn5¢ of unrealised gains of £46:943 2nd UllTfdlis¢d losses of £?,803. InvestmeDt Property: 13 Swjn Street 202S 2024 At cost 330.000 £330.000 Ai 31 December 2025 330.000 £330.01 rhe Charity boughi a fTE¢hold propen> of 13 Swan Street. W2r4vick in M&y 2022 for £330,000. As it 15 an invesDnetti prop¢rty, no depr¢¢iaiion is provided on rhe property cosi and in the opinion of thc trustees li has been included at'a fair valualion" given its renial income and CueI ll5¢. The purchase related costs aTe wrirten off ¢0 revejiue when incurred.
PaÈe I I WARWICK PROVIDENT DISPENSARY NOTES TO THE F114ANCIAL STATEMENTS For the year tnded 31 December 2025 DEBTORS 2025 2024 Amounrs fallillg due within one year.. Dividend incorn¢ receTvable AccrLied Interesi Receivable 2.650 257 1.927 £2,907 £2.046 CREDITORS 2025 2014 Amoun15 falling wiihin on¢ year. Deferred rental incoTh¢ Professional fees Grant Cornmitmenls 5.764 6.747 30,000 5.764 0,786 £42,511 £12.550 RESTRicfED FUNDS Balance al l J8nu#ry 2025 Gains on Unrtalised 31 December disposal G¥10(l$Se$) 2025 Incom¢ E%pendiiure Trgnsf¢r$ Pern)anenL Endowmeni Funds 985,875 (4.768) 8.509 46,943 1.036,559 B8l¥nce at January 2024 Balance ai L055e$ on Unrealised 31 Dteember disposol Goin(LosSes} 2024 Incoole Expendilure Tra$fer5 PemiaTrent Endowment Funds 982.056 (4,651) (1.846) 10.316 985,875 UNRSTRICTED FUNDS Balance at l Januari 2025 B813D¢¢ at LosS¢5 011 UDrealis¢d 31 December dlspossl Gainsl{L055eJ) 2025 IIJcDm¢ Expenditure TrAn5fers General Fund Prop¢rtv Repair Fund 31,134 51,715 122,718 {67 51J) (1?.500) 12.500 7B,839 61,412 (2,8031 £82.849 £1?2,718 £162.5131 11,803) £140,251
WARWICK PROVIDENT DISPEh'SARY P8ge 12 NOTES TO THE FINANCIAL STATEMEIYTS For lh¢ year ¢nd¢d 31 Decefflber 2025 UNRSTRICTED FUNDS {CONTD) l JaAv&ry 2024 L055e5 on unall5ed 31 Deeember disposAI G¥S*{L4)sseS) 2024 Income Expendrture Tr•n5fer5 GeneTal Fund Property Repair Fund 33,113 33,611 132,3581 (17,5001 17,500 31.134 51,715 604 £66,724 £47,879 £(32.3581 £604 £82.849 ANALYSIS OF NET ASSETS BETWEEN FUNDS Permanent Endowment Fund 2025 Property Repair Fund 2015 Generttl Fund 2025 Totgl 2025 Fixed asset5 Cash and current investments Other current Jssetslliabilities 1.027,433 9,126 61.412 1.088,845 127,569 139.6041 118.443 {39,604) £1,036.559 £78,839 £61,412 £1,176.810 Permanent E•doM'meit Fund 2024 Pruptrty Repaffir Fund 2024 General Fund 2024 Total 2024 Frked assets Cash and CUTrent investments Oiher eurr¢nl asset511iabilit1¢5 978,497 7 J78 51.715 I,oJo,) i? 49.016 110,504) 41,638 110.504) £985,875 l.lJ4 £51.715 £1,068,724 10. TRUSTEES, REMUNERATION AND EXPENS&8 No Tru5tee5 received r¢rnunerai>on or expenses in the year or the previou5 year. RELATED PARTY TRANSAcfioN5 TheTe have been no relared paTty transactions during the year.12024. £NIL)