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`INDEX`
`GeneralInformation`
`ReportoftheTrustees`
`IndependentAuditors’Report`
`StatementofFinancialActivities`
`BalanceSheet`	`10`
`StatementofCashflows`	`11`
`NotestotheAccounts`	`12-19`

`Settlementdated:`	`15thNovember1968`
`Settlor:`	`SirWilliamBenyon`
`Trustees:`	`CatherineRoseIngridHaig(Chairman)`
	`TheRt.Hon.TheLordBenyonPC`
	`TheLadyZoeLaviniaBeatriceBenyon`
	`LadyElizabethBenyon`
	`MelissaAnastaziaVictoriaOwston`
	`RichardIanDavidBampfylde`
	`RichardGarethGriffiths`
	`AndrewJamesHutton`
`SecretarytotheTrustees:`	`MicheleDeAngeli`
`CharityRegistrationNumber:`	`258123`
`PrincipalOffice:`	`TheEstateOffice`
	`EnglefieldEstateYard`
	`TheStreet`
	`Englefield`
	`Reading`
	`BerkshireRG7SES`
`Solicitors:`	`PayneHicksBeach`
	`10NewSquare`
	`Lincoln’sInn`
	`LondonWC2A3QG`
`Stockbrokersand`	`CazenoveCapital`
`InvestmentManagers:`	`1LondonWallPlace`
	`LondonEC2Y5AU`
	`CCLAInvestmentManagementLtd`
	`SenatorHouse`
	`85QueenVictoriaStreet`
	`LondonEC4V4ET`
	`StonehageFleming`
	`15SuffolkStreet`
	`LondonSW1LY4HG`
`Auditors:`	`SafferyLLP`
	`71QueenVictoriaStreet`
	`LondonEC4V4BE`
`Bankers:`	`Lloydsple`
	`24BroadStreet`
	`Reading`
	`BerkshireRG12BT`

17 November 2025

				`Total`		`Total`
			`Permanent`	`Funds`		`Funds`
		`Unrestricted`	`Endowment`	`yearended`		`yearended`
`Note`		`Funds`	`Fund`	`31stMarch2025`		`31stMarch2024`
		`£`	`£`	`£`		`£`
	`INCOME`
`2`	`Investmentincome`	`222,913`	`488,977`	`711,890`		`698,990`
	`TOTALINCOME`	`222,913`	`488,977`	`711,890`		`698,990`
	`EXPENDITURE`
	`RaisingFunds`
`3`	`Investmentmanagementcosts`	`-`	`12,588`	`12,588`		`11,905`
`4`	`Propertycosts`	`135,092`	`-`	`135,092`		`195,748`
	`Charitableactivities`
`5`	`Donations`	`335,332`	`-`	`335,332`		`337,664`
	`TOTALEXPENDITURE`	`470,424`	`12,588`	`483,012`		`545,317`
	`NETEXPENDITUREBEFORE`	`(247,511)`	`476,389`	`228,878`		`153,673`
	`GAINS/LOSSESONINVESTMENTS`
`8`	`Gains/(Losses)onrevaluationsanddisposals`	`-`	`-`		`-`	`-`
	`ofinvestmentsproperties`
`9`	`Gains/(Losses)onrevaluationsanddisposals`
	`ofinvestmentsassets`	`-`	`(514,973)`	`(514,973)`		`981,091`
	`NET(EXPENDITURE)/INCOME`	`(247,511)`	`(38,584)`	`(286,095)`		`1,134,764`
	`Transfersbetweenfunds`
`10`	`Transferfromtotalreturnforapplication`	`404,686`	`(404,686)`		`-`		`-`
	`NETMOVEMENTSINFUNDS`	`157,175`	`(443,270)`	`(286,095)`		`1,134,764`
	`RECONCILIATIONOFFUNDS`
	`TOTALFUNDSBROUGHTFORWARD`	`577,451`	`19,590,026`	`20,167,477`		`19,032,713`
	`TOTALFUNDSCARRIEDFORWARD`	`734,626`	`19,146,756`	`19,881,382`		`20,167,477`
	`Seenote20forthepreviousyearsStatementOfFinancialActivities`		`comparatives.`

`Note`		`2025`	`2024`
		`£`
	`FIXEDASSETS`
`8`	`InvestmentProperties`	`5,780,000`	`5,780,000`
`9`	`Investments`	`13,489,517`	`14,016,929`
	`TotalFixedAssets`	`19,269,517`	`19,796,929`
	`CURRENTASSETS`
`11`	`SundryDebtors`	`127,356`	`127,990`
`12`	`CashatBanks`	`531,832`	`308,520`
	`TotalCurrentAssets`	`659,188`	`436,510`
`13`	`CREDITORS:AMOUNTSFALLINGDUE` `WITHINONEYEAR`	`(47,323)` `,`	`(65,962)`
	`NetCurrentAssets`	`611,865`	`370,548`
	`TOTALNETASSETS`	`19,881,382`	`20,167,477`
	`Representedby:`
`15`	`UnrestrictedFunds`	`734,626`	`$77,451`
`15`	`PermanentEndowmentFund`	`19,146,756`	`19,590,026`
	`TOTALFUNDS`	`19,881,382`	`20,167,477`
	`(pdinewno:`

	`Note`	`2025` `£`	`2024` `£`
`Cashusedinoperatingactivities`	`20`	`(501,242)`	`(642,959)`
`Cashflowsfrominvestingactivities` `Interestanddividends` `Movementincashheldforinvestment` `Proceedsfromsaleofinvestments`		`712,115` `2,686` `9,753`	`696,484` `(21,757)` `33,566`
`Cashprovidedbyinvestingactivities`		`724,554`	`708,293`
`Increase/(Decrease)incashandcashequivalentsintheyear`		`223,312`	`65,334`
`Cashandcashequivalentsatthebeginningoftheyear`		`308,520`	`243,186`
`Cashandcashequivalentsattheendoftheyear`	`12`	`531,832`	`308,520`

	`2025`	`2024`
`INVESTMENTINCOME`	`£`	`£`
`Rent`	`222,913`	`214,779`
`Dividends`	`482,873`	`480,156`
`Interest`	`6,104`	`4,055`
	`£711,890`	`£698,990`
`INVESTMENTMANAGEMENTCOSTS`	`£`	`£`
	`£12,588`	`£11,905`

`PROPERTYCOSTS`		`£`	`£`
`HeatandLight`		`9,432`	`7,724`
`PropertyRepairs`		`94,482`	`156,355`
`Rent& Rates`		`968`	`577`
`Insurance`		`3,224`	`3,894`
`ManagementCharge`		`13,560`	`13,560`
`Other`		`10,037`	`9,575`
`GovernanceCosts(15%)`		`3,389`	`4,063`
		`£135,092`	`£195,748`
`DONATIONS`		`£`	`£`
`Church/ Religion`		`24,780`	`27,850`
`Conservation/ Heritage/ Arts`		`22,500`	`42,650`
`Youth/ Education`	`/Community`	`163,725`	`108,055`
`Social& Welfare/`	`Support`	`90,124`	`112,084`
`Overseas`		`3,000`	`4,000`
`Medical/ Support`		`6,000`	`18,000`
`HMForces`		`6,000`	`2,000`
		`316,129`	`314,639`
`GovernanceCosts(85%)`		`19,203`	`23,025`
		`£335,332`	`£337,664`
`Breakdownbetweeninstitutionsandindividuals:`
		`£`	`£`
`Toinstitutions`		`314,349`	`312,859`
`Toindividuals`		`1,780`	`1,780`
		`£316,129`	`£314,639`

		`2025`	`2024`
`6`	`GOVERNANCECOSTS`	`£`	`£`
	`AuditFee`	`9,120`	`9,138`
	`GeneralExpenses`	`13,472`	`17,950`
		`£22,592`	`£27,088`

`INVESTMENTPROPERTIES`	`2025`	`2024`
	`£`	`£`
`Valuation`	`£5,780,000`	`£5,780,000`
`FreeholdLand`	`£`	`£`
`WindmillCommon,Mortimer- AgriculturalLandandWoodland(1.75acres)`	`45,000`	`45,000`
`PamberHeath- AgriculturalLand(10.82acres)`	`125,000`	`125,000`
`Burghfield- AgriculturalLand& Water(15.26acres)`	`185,000`	`185,000`
`Theale- LandadjoiningRailway`	`25,000`	`25,000`
	`380,000`	`380,000`
`FreeholdProperties:`
`26StanburyGate,SpencersWood,Reading`	`345,000`	`345,000`
`1- 8 RowlandsClose,Mortimer`	`1,990,000`	`1,990,000`
`Roida,UftonNervet`	`320,000`	`320,000`
	`2,655,000`	`2,655,000`
`LeaseholdProperties:`
`1-4StMarksClose,Englefield(99yearsfrom29.9.72)`	`1,135,000`	`1,135,000`
`62A,64and64AChurchStreet,Theale(99yearsfrom19.3.76)`	`930,000`	`930,000`
`6,6aand7 TheStreet,Englefield(85yearsfrom24.6.88)`	`680,000`	`680,000`
	`2,745,000`	`2,745,000`
`Total`	`£5,780,000`	`£5,780,000`

`INVESTMENTS`			`2025`	`2025`	`2024`
			`£`		`£`
`Marketvalueat1stApril2024`			`14,016,929`		`13,047,647`
`Additions`				`-`	`-`
`Disposals`			`(9,753)`		`(33,566)`
`Gains/(Losses)onrevaluationsanddisposals`			`(514,973)`		`981,091`
`Increase/(Decrease)incashheldforinvestment`			`(2,686)`		`21,757`
`Marketvalueat31stMarch2025`			`£13,489,517`		`£14,016,929`
`Costat31stMarch2025`			`£12,051,745`		`£12,048,618`
`Theportfolioconsistsofthefollowingcategoriesofinvestments`		`:`
			`At`	`market`	`value`
			`2025`		`2024`
				`£`	`£`
`VentureFunds`			`66,309`		`87,445`
`AlternativeStrategies`			`2,817`		`3,714`
`MultiAssetsFunds`			`13,397,583`		`13,900,276`
			`13,466,709`		`13,991,435`
`CashAccounts`			`22,808`		`25,494`
			`13,489,517`		`14,016,929`
`Withinthesecategoriesthefollowinginvestmentshada market`		`valuegreaterthan£500,000` `:`
			`2025`		`2024`
				`£`	`£`
`COIFCharitiesEthicalInvestmentFund`			`6,820,108`		`7,122,243`
`CazenoveCharityResponsibleMulti-Asset`	`Fund(RMAF)`		`6,577,475`		`6,778,033`
`TOTALRETURN`	`Endowment`		`Unapplied`		`Total`
			`totalreturn`		`Endowment`
		`£`	`£`		`£`
`Broughtforward1 April2024`		`16,125,617`	`3,464,409`		`19,590,026`
`Movements`
`Investmentreturns(dividendsandinterest)`		`.`	`488,977`		`488,977`
`Investmentreturns(gains/losses)`		`-`	`(514,973)`		`(514,973)`
`Lessinvestmentmanagementcosts`		`-`	`(12,588)`		`(12,588)`
		`-`	`(38,584)`		`(38,584)`
`Unappliedtotalreturnallocatedtoincome`
`inthereportingperiod`		`-`	`(404,686)`		`(404,686)`
`Netmovementsinreportingperiod`		`-`	`(443,270)`		`(443,270)`
`Carriedforward31March2025`	`£16,125,617`		`£3,021,139`		`£19,146,756`

`11`	`SUNDRY DEBTORS`	`2025` `£`	`2024` `£`
	`TradeDebtors`	`424`	`82!`
	`Prepayments`	`3,713`	`4,598`
	`EnglefieldHomeFarmsPartnership`	`2,736`	`1,89]`
	`AccruedIncome`	`120,483`	`120,680`
		`£127,356`	`£127,990`
`12`	`CASHATBANKS`	`2025`	`2024`
		`___-`	`a`
	`LloydsBank- CurrentAccount`	`£531,832`	`£308,520`
`13`	`CREDITORS:AMOUNTSFALLINGDUEWITHINONEYEAR`	`2025`	`2024`
		`£`	`£`
	`TradeCreditors`	`7,036`	`10,496`
	`DonationsPayable`	`10,000`	`10,000`
	`TheBenyonTrust`	`2,440`	`15,998`
	`OtherCreditors`	`27,847`	`29,468`
		`£47,323`	`£65,962`

`ANALYSISOFNETASSETSBETWEENFUN`	`DS`
	`Investment`				`NetCurrent`	`Creditors`
	`Properties`		`Investments`		`Assets`	`>1 Year`	`Total`
`Yearended31March2025`	`£`		`£`		`£`	`£`	`£`
`UnrestrictedFunds`		`-`		`-`	`734,626`	`-`	`734,626`
`PermanentEndowmentFund`	`5,780,000`		`13,489,517`		`(122,761)`	`-`	`19,146,756`
	`£5,780,000`		`£13,489,517`		`£611,865`	`~`	`£19,881,382`
`Yearended31March2024`	`£`		`£`		`£`	`£`	`£`
`UnrestrictedFunds`		`-`		`-`	`577,451`	`-`	`577,451`
`PermanentEndowmentFund`	`5,780,000`		`14,016,929`		`(206,903)`	`-`	`19,590,026`
	`£5,780,000`		`£14,016,929`		`£370,548`	`-`	`£20,167,477`
`FUNDS`					`Unrestricted`	`Endowment`
					`Fund`	`Fund`	`Total`
					`£`	`£`	`£`
`Totalfundsbroughtforward`					`$77,451`	`19,590,026`	`20,167,477`
`Income`					`222,913`	`488,977`	`711,890`
`Expenditureandnetgainonrevaluation`
`anddisposalofinvestmentassets`					`(470,424)`	`(527,561)`	`(997,985)`
`Investmentpropertiesrevaluationgain`						`-`		`-`
`Transferbetweenfunds`					`404,686`	`(404,686)`		`-`
`Totalfundscarriedforward`					`£734,626`	`£19,146.756`	`£19,881,382`

`OPERATINGACTIVITIES`
	`2025`		`2024`
	`£`		`£`
`Netmovementinfunds`	`(286,095)`		`1,134,764`
`Deductinterestincomeshownininvestingactivities`	`(711,890)`		`(698,990)`
`Deductgains/addbackunrealisedlossesoninvestments`	`514,973`		`(981,091)`
`Decreaseindebtors`	`409`		`1,182`
`Decreaseincreditors`	`(18,639)`		`(98,824)`
	`(501,242)`		`(642,959)`
`Analysisofchangesinnetdebt:`
	`Atstartof theyear`	`Cashflows`	`Atendoftheyear`
	`£`	`£`	`£`
`Cash`	`308,520`	`223,312`	`531,832`
`Cashheldaspartofinvestments`	`25,494`	`(2,686)`	`22,808`
	`334,014`	`220,626`	`554,640`
`PREVIOUSYEAR'SSTATEMENTOFFINANCIAL`	`ACTIVITIES`
		`Permanent`	`TotalFunds`
	`Unrestricted`	`Endowment`	`YearEnded`
	`Funds`	`Fund`	`31stMarch2024`
	`£`	`£`	`£`
`INCOME`
`InvestmentIncome`	`214,779`	`484,211`	`698,990`
`TOTALINCOME`	`214,779`	`484,211`	`698,990`
`EXPENDITURE`
`Raisingfunds`
`Investmentmanagementcosts`	`-`	`11,905`	`11,905`
`Propertycosts`	`195,748`	`-`	`195,748`
`Charitableactivities`
`Donations`	`337,664`	`-`	`337,664`
`TOTALEXPENDITURE`	`533,412`	`11,905`	`545,317`
`NETINCOME/EXPENDITURE`	`(318,633)`	`472,306`	`153,673`
`Gains/(Losses)onrevaluationsanddisposals`	`-`	`981,091`	`981,091`
`ofinvestmentsassets`
`NETINCOMEANDNETMOVEMENTINFUNDS`	`(318,633)`	`1,453,397`	`1,134,764`
`Transfersbetweenfunds`
`Transferfromtotalreturnforapplication`	`420,508`	`(420,508)`		`-`
`NET(EXPENDITURE)/INCOMEAND`
`NETMOVEMENTSINFUNDS`	`101,875`	`1,032,889`	`1,134,764`
`Reconciliationoffunds`
`TOTALFUNDSBROUGHTFORWARD`	`475,576`	`18,557,137`	`19,032,713`
`TOTALFUNDSCARRIEDFORWARD`	`£577,451`	`£19.590,026`	`£20,167,477`

2025-03-31-accounts

17 November 2025