Charity registrAtion 258035 IEnglaDd and W#le$)
THE FLETCHERS TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

THE FLETCHERS TRUST
LEGALAIYD ADMINISTRATIVE INFORMATION
Trustees
A Mcmillall
P Shears
I hla¢tEllan
Charlty nllmb¢r
258035
Principal addre55
36 Grcenhursl Drive
East GrinsLead
West Sussex
RH19 3NE
dependent
Darren IlardingACAFCCA DChA
Rkchard Place Dobson Services Litt)i*d
1-7 Station Road
Crawley
West Sussex
Bllio iEr
BAnkers
HSBC FIC
Aldermans Hill
Pa]mers Green
London
N134YE
CAF Bank
25 Kings Hills Avenue
ta'ngs Hill
Wcst Ma]ling
Kent
,ME19 4JQ
Investment advlsors
Rèthbone Investment Management
8 Finsbury CirGus
Loll(totL
EC2M 7AZ

THE FLETCHERS TRUST
CONTENTS
Page
Trustees, rer
Jndcpendettt eXa￿￿ner'S report
Statement of financial activities
BaLanc¢ sheet
Notss w the financial stst¢ments
8- 16

THE FLETCHERS TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 28 FEBRUARY2025
The iNstccs preseTLt th¢it annual r¢pon and financial Staternents for tbe year endcd 28 February 2025.
The fJnaJ)cial statements have b¢¢n prepaT¢d in accordance wilh the accountin8 policics sct out iti notc I to th¢ financial
stattmrnts amd coynply wkth Ihe tThst's Tn)st Dttd. the Charities Aci 2011 ond "A¢ef)wiiins aod RetOnin8 by Chtirktses..
Statement of RecoTnmended Practi¢e applic#bS¢ to cbarities preparing their accounts in accordanc¢ the Financial Reporting
Standard applicable the UK artd Republic of Ireland {FRS 1021 (effectiv¢ l January 20191.
Oblettive5 actlvltle5
The Trust'$ prin12ry objective is the promotion of thc sport of archery amottg disabled individuals and other Ch￿liable activities
Tel￿ed to sporting ¢￿age￿￿t for disabled p¢rsollS or di$advalltsg¢d youth. Th¢se obJ￿tiVeS aligll WitIL th¢ tsrigindl ulthe
whichiA¢lude'.
Supporting Liverytnen and Freemen of th¢ Co￿panY of Fl¢tch¢rs in need.
Addressing charitable pu￿Ose$ r¢l8ted to Èr¢h¢ry ajd disability.
Supportittg appeals w2th connections to the L4)rd Mayor of London orthe City of Londott.
Prowditig flexibility for the M&ster of the Wor5bipful co￿panY of FlrLL'h¢xs w nominatr a c]wiry for support durtD8
their tenure.
Pthlic benefit
The Trustees have adheTed to the Ch&tity Commissiott's guidance oll public bet2efit, focusing on suppofftng individuals with
disabilitits through archery. Thi5 Sport has demonstrated benefiLg in ¢nh&n¢iDg physica] capabilsties and building self-estee￿.
Tbe T￿$t collabotales with otgaui5atiOll5 su¢h asArcbery GB, the British IlTheelGhairArtheryAssociati()Tr, Bjilld VeteraDs U
and British Blind Sports to ideJiify and support talented individuals and wjden acc&i% to the 5POrt.
AcbievemeDts aJ]d pvrform¥n¢e
Th¢ 202k25 fLnan¢ial y¢ar wb8 a period of meaDingful growth aud d¢]iv¢ry for th¢ Fletchers, Trust. Core activiti&8 remained
focwed on the advancetnent of a￿hery for disabled people, youth and colnmunity developtnent, and tllilit2ry affilidtes. IA
addition, thi's yeat Saw tEke successful launch of a llew fuud ¢KpliGitly d¢d]"rai¢d to tb¢ preservation attd support of the trdditional
cTkn of fletching- honouring the Company'5 historic roots 8lld identity.
l. Crallt-M￿llg and Charltable Impact
Support to IndisldualAr¢htrs:
The Th￿t awarded over 40 gr8nts dur]ng the year, with a strong eMph￿iS on enabling access and excellence in pard-archery.
Ben¢ficiari¢6 iTrGluded..
Ar¢b¢rA al￿ArCher B. both qualified for PaTiS 2024, supporied with bespokc comp¢titioll-grdd¢ arrows.
Archer C. ￿cOvering from a stroke, supported to transition to compound how use.
Ar¢her D and Arther E, clu1￿level aEchers with I)￿bIlity challenges, were provided wilh lightweight, specialist
equipTnent to ¢otttinue their development.
Support to Org¥ni¥ation$:
Deer Pwk Ar¢beJ¥.- £2.500 foraccessibj'lity extCJJ5ion. including new social aDd maintenaTJce faciliti¢s.
Cleve Archers.. £2200 paid for a¢r¢55 improv¢mellts.
Strategtt D15ability Inclu$ioA:
£18,633 pttid to Archery GB ill September 2024 to c105C Out the four-ycar Paris Pwdlympic cycle comffjitment
1£65.560 in totsl).
£2,063.50 paid as the first tratkctL¢ of th¢ £110,141 conllttitted to the Los All¥¢le$ 2028 ParalyJJ4)ic cycle.
The Trusr's iTLV¢5tment sUp￿rted Archery GB'S work on ¢lassifi¢atio]L WO￿Orce trniDillg> grasStoo¢b' ¢ug8gwts¢n4 VI spons
coordinatioTL and r¢gional w0￿0v8 across the UK.
page I

THE FLETCHERS TRUST
TRUSTEESI REPORT (CONTINUED)
FOR THE YEAR EIVDED 28 FEBRUAR Y2025
2. Fundrai5illg Perform20te
Totsi fLwdraisirtg during the year exce&led £11,7(Kl. GiftAid is still to be added to these total Major contributioDs illcluded..
UAtra-Mara(bon Campglgn (LlverymartrIed). £7.042.50 rai5cd. including nmtCtill￿ from another Liver)rynan.
Funds directed toward thc hcritsgc crlft
Craft Culld Fundrglsthg Appeal. A key initiatiwe this year wa5 the MasieT's Letter Appeal, targeiittg m¢mbe]Y aod
friends of the Cornpany to SUp￿rt the newly established Crafi Guild Fund. Thss restricted fund was created
5p¢cifitAlly to..
- Prese￿¢ and piomot¢ the tradttionA] ¢rÈft of fletching.
. Support education and skills developtnent in heritage archery tecbniques.
- Enablc publie aw￿ene$S initiativ¢s and fvth]re collabor81ion with beritage itiKithtiOnS.
Addiiiottal pledges and futur¢ fundrdiS?tsg a¢tivity are beitig developed to support this fill￿,5 growth. Th¢ Tn￿te¢S cotLSid¢r this
a sigllificant step in affirmitt8 thc Company's historical and cultural legacy.
Golden Htnde Event. £700 generdted from a ¢otnbination of tirket Sales and voluntary donatiotts. Il also as a
publtc visibility event for the TTUSt.
Charity Crleket Mateh St Lord'5. Raised £625. contrtbthing to unrestri¢￿1 ￿vIllg.
3. Communkation and Engagement
The Tn￿1 continued to improve its communi¢#tion$:
Anew QR code and chatity trifold w¢re introduced &t eveuts to encourage spolltaneou5 digital givill¥.
Fly•3 ai ¢vents llow include details of recent granttt5.
Websile content is b¢illg updated to reflect live chantable activity and the neiy fletcjll'ng fund.
Mernber5 tsf the Comp2#y Attended &lld represeDtcd the Trust at the Paris P8ThIyD¥iCS 8nd Stoke MandeNTrlle
Pani)qnpic Flame Ceremony.
The Fletchers. Disability Cb2￿p10￿Sh1pS at Lillesh811 welcomed record att¢ndanc¢ (70+ archers).
4. LookingAhe2d
In 202>26. the Tm$t will..
D¢liv¢T Year l of the tnsAngele8 Paralympic cycle in collaboration wrth Archery GB.
Fonyjalise and grow thc Craft Guild Fund. ensuring it %upports boih hcritage pre5¢rYatioD and publi¢ eLtu¢attOn.
CoDtinu¢ inv¢stment in grassroots and elite-level archery for dE$8bled athletes.
Expand the fimdrai5itLg bas¢ and iPfTease dollor visibility using digi￿1 too15 and tsrget¢d app¢Jl$.
Th¢ TTUSt'5 a¢hievemcnts reflect the generosity of its supporter8, the professiotjalism of its delivery PaTther5. and the ¢Jduring
legacy of the Worshipful Cornpany of Fl¢t¥h¢rs.
Finxficial revitw
The Cbariiy's funditlg CO￿¢5 frojn douatiDllS by the mcrGbets themselves. from 0¢￿5]91)a1 fund-iaisin8 events attd from the
YetUTn on inv¢stments.
The inve5trnents accounted foron 2 Total Rcturn basis.
Income arising frotti invesknent5 durillg the year has been apportioned between the Unr¢stri¢ted Fund and the Total Unapplied
Retum IIDcomel portion of the EndowmerAt Fund on apro rats b95]5.
At tbe rq)ortillg (tste, the perni8Thent Endowrnent Fu]Jd stood at £168,809 of wbich a rnaximurn of £24,731 could be ￿leaSed for
haritsble expenditure. During the year £2,668 was traosferred fron) th¢ ¢ndowmetyt fi]nd to urrestrlcted fi2nd5. Icavillg
J)TestFiCted ￿lld8 at £68.857 at the yeyr eD&
R￿erve$PolICy
The T￿￿1¢<$, p)li¢y ott iesenw 2s to maitrlai￿ the Unr¢stri¢t¢d re5eEve& at behveell I to 2 ye￿5-worth of chaiitablc ¢xp¢ndithre
to allow for rolling commitments recognition that recipients may be relyitig upon continuity of SUp￿>rt to fulfill a pJrti¢ulir
objective.
page 2

THE FLETCHERS TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUAR Y2025
Inve51ments
Irkvestmellt p¢rfonDance is monitDred by the Trustee5 who receive regular reports from the inveslmelll mattagets, together wlth
thc oveTall irtve$tmcnt strategy. The T￿Stee8 have assessed the major ri5k5 to which the Tntst is exposcd. Although a reduction
in income from investments is allticlpafr￿ the bulk of annual I]]co￿¥ is re¢¢ived from memb¢rs of th¢ Worshipfill CottLPHlly of
Fletch¢¥s and there ￿ tto itidJcatioJJs tbai atsy material reduction it) such iticome is likely to arise. Apportii)nment of the
ittve8tmeni portfolios wa5 completed by the Investment Adw5er bctw¢¢ll the Unre5tri¢ted and Endowment Funds, according io
tbc objectlves set out by the TNstee$ on 28 F¢bn￿ry 2022.
Stru¢turey governance ¥nd managemeat
Tht tr￿1 i$ a registeted charity, nuttther 258035. and is governedby it'5 TnJ5t Deed dated 15th N(pvemb¢r 1968.
The tsus¢ees who served th￿Ill8 tbe year and up to the date of 51gllatt￿c of the financial s¢attttJents wer¢..
A Mcmillan
P Shears
l MaeLell&
Recrnitment and appointmeni trfrrnstees
Twstees are thwn from fonner Wardens of the Worshipful Compally of Fletchers alld ar¢ 2ppointed by ￿solution of a tneetillg
of Tn]stees. Thc Trustees provide regular updates 10 thc Court of the Worshipful Cornpany of Flttchers, w+Jich represents the
embership of tb¢ Compatty and serves as the Priruary source of dollatioll5.
Administr&tiVf i$ptovid¢dthroll8h thecleyk to theWI)r5hipfvl Company of Fletrh¢T5.
PrlnclpAIAdtDln15trator
Colonel Debs Taylor VR
Clerk io the Worshipful Company of Flet¢hers.
AdmffinlstrAtlve Addre55
36 GTeeDhwstDrive, East GriJ)stead.West Su&seK IU119 3NE
Profe5s1ort¥l Advlsers
Banks.. HSBC Plc, CAF Bank Lttl
Investmeiit Adviser: Rjthbone Invdqtsnent Mana8emcnt Ltd
]ndep¢rLd¢nt Exan]iller.' Darren Hardl￿8. Richard Place Dtsbson Services Limited
The trustees, Teport Was 4)proved by tht Board of Th]stecs.
A Mcmillatt
Trustee
Da￿".
page 3

## **THEFLETCHERS TRUST** 

## **INDEPENDENT EXAMINER'S REPORT** 

## **TO THE TRUSTEES OF THE FLETCHERS TRUST** 

I report to the trustees on my examination of the financial statements of The Fletchers Trust (the trust) for the year ended 28 February 2025. 

## **Responsibilities and basis of report** 

As the trustees of the trust you are responsible for the preparation of the financial statements m accordance with the requirements of the Charities Act 2011. 

I report in respect of my examination of the trust's fmancial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011. 

## **Independent examiner's statement** 

Your attention is drawn to the fact that the charity has prepared the fmancial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their fmancial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102[) ] in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice. 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

- 1 accounting records were not kept in respect of the trust as required by section 130 of the Charities Act 2011. 2 the financial statements do not accord with those records[; ] or 

- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination. 

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 to enable a proper understanding of the financial statements to be reached. 


## **Darren Harding ACA FCCA DChA** 

Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RHl0 l HT Date: 14/11/2025 

page4 



THE FLETCHERS TRUST
STATEMENT OF FINANCiALACTIVITIES
FOR THE YEAR EIVDED 28 FEBRUARY2025
Current fiuaAcig1 year
Unre8trieted
nds
2025
Re$triet¢d
nd$
2025
ndowtlltnt
fllnds
2025
TotAI
Thtal
2025
2024
Notes
Income 2nd endowFththts from:
Donatiot]s and leg￿leS
InYcstment$
Other inco￿¢
55,088
2.709
15
15,749
8,327
3,830
79.164
6.539
15
46.IM4
5,814
748
Total kneome and elld0wrne￿ts
57,812
15,749
12,157
85.718
52.606
Expenditure on:
Ra151ng funds
Chatitable aLuvities
2,412
95.315
2,412
95,315
68,761
Total espendlture
97,727
97,727
68.761
Ntt gaills/(losse510tt
investments
13
4,636
6.842
11,478
4,619
Net iDrtsm6(¢xpenditure)
(352791
15.749
18,999
(5311
(11,536)
TraDsfer5 b¢tw¢¢n fiJn(ts
(1.349)
1.349
Net movement in fvndg
io
136,628)
15,749
20.348
(531)
{11,536)
R¢¢onellEadon of fund5:
Futtd balances #t 29 F¢bn]ary 2024
J05,485
148.461
253,946
265,482
Fund ballltttes at 28 Febru4ry 2025
68,857
15.749
168.809
253,415
253,946
The 5tAtement of finall¢￿al a¢tiviti¢s includes gains aod losses recogDi%d iD the year. All incorae and exp¢uditUT¢ derive
from continuing activities.
page 5

THE FLETCHERS TRUST
STATEMENT OF FIIYANCIAL ACTIVITIES (CONTINUED)
FOR THE YEAR EIVDED 28 FEBRUARY2025
Prior fin4nci#l year
Unrestrieted
EDd•Thinent
fkn￿d5
2024
Total
2024
2024
T4otes
Income and end0wme￿ts tTOm:
Donations and legaci¢s
Investm¢ntS
Otb¢rittcomc
43.834
2.834
748
2.210
1980
46.044
5,814
748
Totsl ineonte attd endTrwments
47.416
5,190
52,606
ExpeDdlmre on:
Charitable activities
68.761
68,761
Totgj expelldllure
68,761
6S.761
Net gaittsl(105ses) iskvestmenfs
13
1,049
3,570
4,619
Net Incomel{e￿elld1thre)
(20.2961
8.760
(11.536)
Transfers between funds
5,000
15,000)
Net movement ID fllnds
io
(15.2961
3,760
(11.536)
Reton¢TliatiO￿ of funds:
Fund balances ai l March 2023
120.781
144.701
265,482
Fond bglanc¢5 at 28 February 2(124
105,485
148.461
253,946
page 6

THE FLETCHERS TRUST
BALANCE SHEET
ASA T28 FEBRUARY2025
2025
2024
otes
Flxtd ￿Sets
Inv&%1￿c￿lS
15
229,957
213.926
Cmrrent assets
Debiors
Cash at b￿k and in halld
16
15,918
10.541
43,021
26,459
43,021
Credltors: fglllDg d￿e wlthln one
yeAr
17
(3.001)
(3,001}
Net ¢urreDt assets
23.458
40,020
Total assets less currtllt liabililles
253.415
253,946
The funds of the trust
Et>dowffl¢nt funds
Restricted income fijtsds
Utjrestrietrd funds
18
19
20
168,809
15.749
68,857
148.401
105,485
253,415
253.946
The fill&ncial
m¢nts were approved by thc trustees on..
Amcmillall
Tru9teo
page 7

THE FLETCHERS TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUAR Y2025
Aeeountlng pomcles
Ch#rity Information
The Fletchers Thjst is & charitable thst. The re815tered office is 36 Greenhurst Drsve, Etsst thinstead West Sussex, RH19
3NE.
l.l Atc•untlng ¢oavettiion
Th¢ financial ststemet)ts have be¢n pr¢pared irl accordance wjtb the tN5t's trust dced. the Choritie5 Act 2011, FRS 102
-The FitLaAcial Reportiu¥ Stattddrd applicabl¢ ￿ the UK alld Republic of Ireland" I'FRS 102,) attd the ChaTit1¢5 SOR
"Accounting and Reporting by Charities.. Statement of Recon￿]ended Pra￿lee applicable to charities preparing their
a¢¢outtts ill accordartce with the FiDaD¢id Reportillg Stsndard applicable the UK 8lld Republic of Ireland IFRS 1021"
(cffective l Jalluary 20191. The tnjst is a Publsc Benefit Entity as defined by FRS 102.
The trust ]Ms taken Edvalltage of th¢ provisions iti th¢ SORP for c]witi¢s to prep￿ a Statement of Cash Flows.
The f￿ar￿cIal siatemettt8 bave departed from the ChaTities (Accounts and Reports) Regulation5 2008 only tu tbe extent
rquired to providc a true and fair view. This depaffl￿e h&s involvEd following the Ststement of Recomm¢ndd Practice
for ¢tLarittes applyitig FRS J02 rath￿ ibe versioll of ihe Statellleat of ReEommended Pr&cti¢e whi¢h is referr¢d to in
th¢ RegulatitsJJS bui which has $ince been withdrawn.
The financial $￿teMentS are prtportditt sterlirsg. whi¢h is the function81 currency of the trust. Monetary amounts iTrth¢se
fillan¢ial statements are routtded to the neatf5t £.
The financial statement6 have been prepared und¢r the histori¢al cost convention. The principal aGcountittg policies
Adopted are set out below.
12 Going ¢ontern
At th¢ tim¢ of approving the fi]Mttcial 5taterncuts, the trustees bave a reasonable expeaatiorl that th¢ trust b3s adequate
1¢50urces to contirtue itt operdtioTwI wi$tence for the foreseeable fvt￿￿. Thus the tTUSt¢¢5 Eontinbe to adopt the going
ncern basis of accounting ID pr¢pariag the ¥LqLemeDts.
1.3 Charitable fllnds
Unrestrict¢d funds are av&i13bl¢ for ￿ at the discrEtion of the tn15t¢es IA fijrtherance of their charitsble obje¢tive$.
En(lowmellL funds arc 5ubj¢ct to 5pecifiG co￿di￿OnS by dollois thai the capitsl mwstbe keptby th¢ tr￿51.
1.4 Income
Intome is rccogni%ed wben the ttusl is legally etttAtled to tt after perfomance condrtioRS httvc beett me¢ the arftounts
canbe measu￿d reliably. and li is probable that income will bc ￿Ctived.
C&8h donations are recogni5cd on rtteipt Oth¢rdollHtions are recogtused once tbe tTUSt has been notified of the donation,
unless performance Londitions require deferral of th¢ amouElt. Income tsx te¢ovcthle r¢l&tion to donations r¢c¢iv
under GiftAid or deeds of Goyetjant is reco￿lsed ai the timc the ¢lain) 18 Jn&de.
L¢ga¢i&s are recogni8ed OD receipt or otherwise if the thjst has b¢en Dotifjed of an imp¢Hding distribution. the amount is
known, ao4 receipt is expected. Ef the a￿Ount Is notknown. th¢ legacy is treated &8 a contillg¢Dt gs$¢r.
Dividends are reco8ttiscd %4Jcn th¢ dividend is d¢¢l8r¢d alld wheFJ th¢ trLJSthas tsotified by the investtnentadvisor.
pag¢ 8

THE FLETCHERS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE IEAR ENDED 28 FEBRUAR Y2025
Atcounting polities
Icontknued)
Its Expendlture
EKpcnditure is recognised once there is a leg2J orcoll5trnctive obligation to trall5fer economic benefit lo a third party* It is
prob2ble that a transfcr of cconomic bellefits will iy r¢quired in settlement. and the amount Of the obligation can be
measured reliably.
pcnditure is classified by activity. The tost5 of each a¢tivity are m8de up of thc totsl tsf direct ¢Dsts and shared costs,
iDcludio¥ sup)x>n eo$ts illvolved in utLd¢rtakiti8 each activity. DiTrct costs attributable to & single activity are allecat¢d
directly lo that activiry. sh9￿1 costs which contribute to Tnorc th2n one activity 8nd support ¢05ts which are not
atttibutable to a single activily are apporLioned b¢twe¢n those activitie5 OL a b8sis cons*slettt with the use of resour¢¢s.
Central staff costs are allotated on thc basis of time spent, 8T￿ deprecidiion Charges are allocated on thc portion nf the
asset's use.
1.6 Fixed asset Investments
Fixed asset investmetits a￿ initially measured at rrsttwction pritt excluding transaction costs, are sub5¢quently
]neasured at fair value at &2ch TEPOrtin8 ddte. Ch&Dges ill fail value are recogtii5ed in net incomel(expenditUTel for the
year. TiRll5aGtiOJF costs arecxpensed as 1llcur￿d.
1.7 Cash e*sh equIV￿c4￿
Cash alld cash equivaleDIs includ¢ cash ill hand, deposit5 he141 at call with baDks. otheT 5bon-tern) liquid iDV¢Stments
original maturities of tI￿ee month5 or less, and bank overdraft5. Ba]Jk overd£afts are showu wsthiD botsowings in ¢utreDt
1.8 Financial iDstrument5
The trjst bas ¢leGttd to apply tb¢ provision$ tsf Scctiott El 'Ba5ic Finatteial [UstN￿ents, aud Section 12 '0thei Financial
lttstrumcnts Issues, of FRS ID2 to all of its finalleia] itistrLunents.
Financial instrutnents ate TECO8nised in the tn]st's balaTLce sheet when the tsILgi beColl￿S p8ry to the contractual
provisions of the inslrumeni.
FinancA8J 8ssets and liabilities are offse( with the nei 2mowJts p￿ented i)) the finan¢iaJ ststementy when ther¢ i5 a
l¢gally errforceable rigbt lo set off the recogtiised Mn]ounts and there is an intcJJlioD to settle on a net basis or to realisc the
asset and s¢ttle the liability simultslleollsly.
Btulcfln￿n¢l￿l I￿ets
B2si¢ fi[]￿claI a&set%, which include debtors and cash and bank ba12ttc¢s, are initially tn¢asured at transaction price
including transa¢tion costs and Mr¢ subsequently carried at 8mortised cost using the effective int¢rest method l￿le&s the
arrnngemcnt consrinjtts E financing rrhnsaction, wh￿¢ the tr8n$8¢tioD is Measurel ai the westnt value of rhe fyture
receipts discounted at a market r4t¢ of ittteresL Financial assets ¢lassified as r¢ceivabl¢ withtn one ycar are not amortise(L
ILFicfinanciol I1￿bIlitieS
Basic financial liabilities. illcluding ¢reditors and bank loans are inTtially recognised at tIall￿ction Price unless the
arrangemcnt ¢onstitut¢s a findll¢in8 traDsaLtiOrt, where the debt instnltncllr is measured at the pffs¢nt value of the future
paym¢nt$ di5couatcd at a ttwkct rat¢ of interest. F￿artC1￿ Itabilities tlÈssifi¢d as payabl¢ within one year 8re not
nortisc
DerecogRitioM oJJLtyallriAI liabiliiies
FittattGial liabilities are dereco8Thised when the injst's tA)ntractual Obli￿tiO￿5 expire or &r¢ discharged or canccll¢d.
page 9

THE FLETCHERS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUAR Y2025
Critic#1 •ctouuting estimate5 andJudgemen¢$
En the application of the ttwt's a¢¢ountiDg policies. the tsustees are requifftl to make judgcments, estimates and
sumpliolls gbuut dt¢ carryillg atllouttt of assets Ijabtlitics that are llot readtly apparent from other sources. Th¢
eslimatcs 2nd associated assumptions are based on bistorical experience and other factors that are con$ider¢d to be
r¢levanL Aclud Fe5uIts n]ay differ from thes¢ estimates.
The estitnate5 and underlying assumptions are reviewed on an ongoing knis. Revisions ts) accounting estimates are
reco￿)ISed ill tbe period in whi¢h ttke estitnat¢ is r¢vi5ed where th¢ revision affects ollly that period. or the period of
the revisioll fi￿U[C periith where the revision aff¢¢ts both ¢urrent and firturc pcriods.
Criti¢al judgements
Investment valug4tlon
Valuanon of ittvesnnettrs at mwket value. based on calculation by the investtnettt fvnd maTvdg¢r. The Tnvcstsnents held are
8115hares listwj ot% a [￿ogniSed stock exchange and h4v¢ an easily Edentifiable market value.
IDcome from donAtions and legatl
U]Ere8tt4eted
fvnd$
2025
Restrf¢ted
funds
2025
EndoivmeDt
ds
2025
Totsl
202S
Donations gtn5
55,088
15.749
8.327
79.164
attd gifts
Donations
GiftAid
41,525
13 J6J
15.749
6,277
1050
63.551
15,613
55.088
15,749
8.327
79,164
Unrestdct&l
fvnds
Re$trl¢ted
ttd5
Totsl
2024
2024
2V24
2024
Donation5 gifi5
43.834
2,210
46,044
Donadons glfts
Donations
GiftAid
40.138
3.696
2,210
42.348
3.696
43.834
2,210
psge 10

THE FLETCHERS TRUST
NOTES TO THE FINANCIAL STATEl￿ENTs (cONT￿lED)
FOR THE YEAR ENDED 28 FEBRUAR Y2025
Incorne from Investments
UDrestrl¢ted EDdowmeDt
tiEllds
fuDd5
2025
2025
Total Unrestricted EndoTrinent
ruuds
funds
2024
2024
TotAI
20ts
2024
Income froryl IEsled
investtnents
Interest receivable
1.728
981
2,439
1.391
4,167
2.372
2,129
705
2.847
J33
4,976
838
2,709
3.830
6,539
2,834
2.980
5,814
Oth¢r income
Unrestricted Unrestrl¢ted
fttnd5
fuDd$
2025
2024
Misce118neou5 6al¢8
15
748
Expenditure on ra151ng fund9
Unre5trlcted Unre$tri¢ted
fttuds
fund5
2025
2024
Fuodralslng 4nd publtclty
Staging fijthising events
1412
Expendltsre on ¢b4rltable acti￿tIes
Gr#nt glvlng Grant ghing
21125
2024
Dlrect Costs
Spvllsot3bipB
1,603
Grant fijttding of acliviue5 (se¢ note 81
83268
60.152
Share of Support govenJ#nce tosts (see Dote 91
Ovvernatt¢¢
10.444
8.609
95,315
68.761
Analysts by fund
Uur¢slrict￿ fi￿d$
95.315
68,761
page 11

THE FLETCHERS TRUST
IOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR EJVDED 28 FEBRUAR Y2025
Gr&nts payable
Grant givlng Gr#llt glvlng
2025
2024
Grants to 17 indivtdua] arcbers {2024.. 161
Grants to InSti￿tiOnS for the disabled
Grants to othet Instituti%￿S
12 J02
59,166
11,800
14,056
33,981
12.115
83.268
60.152
Support ¢￿ts ÈUo¢ated to &ctlvlties
2025
2024
Govemant¢ costs
10,444
8.609
ADgIysed betFYeen:
Graot ￿ving
10,444
8,609
2025
2024
GoverThathce costs tOmPri5e:
Independenr examination fe¢s
Invest￿elli mallager
Administr&tio
3.900
3204
3,340
3,000
2,971
2,638
10,444
8,609
IO Net movement funds
2025
2024
The net movemellt in fulld8 IS stated after charg￿￿(credItIogI'.
Fees pyable forthe ittdep¢[￿e￿t cxamiDalion oFthe dwity'5 statements
3,900
3,000
11
Trustees
Noll¢ of the ttwt¢¢s (or any persotL5 connected with them) received ally re￿L￿erall0ll or benefits from the trllst during
the year.
12
ETnplDyee8
The &vera8c monthly number of employees duting the year w88:
2025
Number
2024
Nwmber
Totat
pag¢ 12

THE FLETCHERS TRUST
NOTES TO THE FllNANc￿L STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUAR Y2025
13 GalR$ and losses on IDvestment5
Unrestrict¢d EDdoATheni
fll￿ds
fuuds
2025
2025
To¢•1 Unre5ttIcted Efjdowment
funds
(und$
2024
2024
Total
2025
Gain￿{loSSeS) arisio8 on..
2024
Revaluation of irlvesknents
Sal¢ of inV¢S￿ents
6.105
737
10,149
.329
1.694
(645)
674
2,896
592
2,368
2,251
4,636
6,842
11,478
1,(149
3.570
4.619
14 TaxAtIo
The charity is exempt from twtioj) OD its &Ctiviti¢s beCa￿Se all its income is applied forcJJAritsble pu￿0$¢5.
15 Flxed 2sset IDv¢stmtnts
Ltsttd
Inve8t￿ents
Cs$h In
POTrfoliD
Total
Cost or valulltion
At29 February2024
Additions
Valuation ch8ng¢5
Movement
Disposals
208,153
20,941
10,149
5.773
213,926
20,941
10,149
(4011
114,6581
{4011
(14,658)
At 28 February 2025
224,585
5,372
229,957
Carrying amount
At 28 Febttwy 2025
224,585
5,372
229,957
At 28 February 2024
208,153
5,773
213.926
Hi5toric&l cost..
2025.. £184,578
2024.. £170.471
There were no iav¢5tments held 8t thc year elld which wer¢ valued at over 5Vo of th¢ port£oIio'5 loial llwket valu¢.
16 Debtors
Amounts falling dkne one year:
202S
2024
Other debtws
15,918
page 13

THE FLETCHERS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR EJVDED 28 FEBRUAR Y2025
17 Creditors: (alling due ￿11￿1￿ one year
2025
2024
Acauals
3,001
3,001
18 Endo*ryuent funds
Endowment fimds represent assets wbickn must ￿ held permanelltly by tbe trust. ]ncom¢ arising oll the eudowmeni fijnds
can be u5¢d in aLYord#nce with tbc objects of th¢ tnjst 2nd ?s incJ)Jded as unrestiyrted inconJ& AJ)y capital gains or losses
arisEng on tb¢ 455ets form part of rhe fim¢
At 29 F¢brn#ry
21124
IDcomlng
resourees
Tr&nsfrrs
Gxill5 and At 28 February
lo$se5
2025
Penll*llent endowweDts
Trusi for Investment
Unapplied Totsl Return
131,734
16.727
,327
3,830
4,017
(2,6681
144,078
24,731
6,842
148,461
12,157
1,349
6,842
168,809
Prevlous Y￿r.
At 28 February
2023
Transfers
G#in$ and At 28 February
los$es
2024
resourc
P¢rm¥nent endowments
TTUSt for Investsneut
Unapplied Total Rets]rn
134.524
10.177
2,210
2.980
(5,0001
131.734
16.727
3,570
144,701
5.190
(5,ffl0)
3,570
148.461
The Ttwst has ailopt&l a'Tottl R¢turn Apptoacb, under whi¢b the pernanerttly endowed funds are inv¢8led to produce att
investment retum withow regard to whethcr that return is in the fornt of incom¢ {sucb as divide[￿$ or sntere$tl or capiial
appreciation.
The iDveslmeDt retUEn tomts a compon¢trt of th¢ Endowcd FuTrd kDOW as th¢ Vnapplied Totsl Return,.
Tbe trllstees then peri{￿l¢allY determill¢ how much tsf the Unapp11￿ Total Rettwn 15 releas￿ to lllcome for spending and
how mu¢h is retained for investtnent as componettt of thc End0￿￿￿enL
Th¢ Elldowment Futtd accordingly has two distinct compotteTJts=
the value of tbe ori￿n￿l and any subscquent gifts ma(k to the capital of the endowtnent (which cannot be
sp¢iitl.' tcmjed Trust forIttvesttncttt'.
the accumulated inv&stsnent Teturn5 frorn the investrnent of the elldowrneJJt, l¢$s any atnounts which have been
allocated to incomt.. ternied Un9pplied Total Rcturn,.
page 14

THE FLETCHERS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR E]VDED 28 FEBRUAR Y2025
19 RestrAeted funds
Th¢ T¢stricted f￿dS of ihc ch￿lty conwris¢ the Ull¢xp¢fjd¢d b&lances of donations and graJ)ts h¢ld on trust subject to
Specific conditiolls by donors as to how they tnay be usa.
At 29 F¢bruary
2024
Incomffing At 28 Februarv
re50urce5
2025
Crdft Guild Fuk
15,749
15,749
The Craft Guild Fund r¢late8 to donations received to be used towards the preservation 511PPOtt of the trndilional ¢taft
of tl¢icbing
Unrestricted fulld$
Th¢ unrestricted fimds of the Charity comprise the UDexpelldd balance$ of donations snd 8rant5 which 2r¢ not5ubject to
specifjc coudition5 by dottors and ￿tOrS as to how tbey may be used. These snclude desigD8t¢d futtds wbi¢kn bave b¢en
sct aside out of unrestricted funds by the tNste¢s for specific putpose&
At 29 Februarv
2024
lllcomivg
resources
Res0￿ree5
expended
TrAn$fers
Gain$ 2nd At 28 February
losse5
2025
General funds
105,485
57,812
197,7271
11,3491
4,636
68.857
Prevlous ye*r=
At 28 Febrnary
2023
IncomÉn
resources
Resouree5
expended
TraH5fers
Gatns and At 28 February
losses
2024
Ge￿e￿fUlld8
I20,78I
47.416
(68,76LI
5.000
105.485
21
ADaly515 of net gS5ets between funds
Unrestrltted
funds
2025
Restricted
fuDd$
2025
Total
Ttds
2025
2025
At 28 February 2025:
91.740
(22.883)
138,217
30.592
229,957
23,458
cU￿¢￿t &s$¢r￿(￿l8bili1Ies)
15,749
68.857
15,749
168.809
253,415
P88¢ 15

THE FLETCHERS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR EIVDED 28 FEBRUAR Y21125
21
ADalysls of net a$5ets betwten fuod5
{Contiuued)
UnregtrR¢ted
fund
2024
Re5trI¢¢ed
fitnds
2024
Endowmtnt
funds
2024
Tot91
2024
At 28 February 2024:
Inv¢5Un¢ttt5
c￿￿1 asset&l(li8bilitic51
86.217
19,268
127.709
20,752
213926
40,020
105.485
148.461
253,946
Related party trgn$4CtIoty$
There war tLO di¥closable relat¢d party traDsactions duTiDg the ye4r12024- Done).
page 16