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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`|
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# 17 November 2025
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|||||`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:`|||
##
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##
||`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`
|
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##
||`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`|
|`8`|`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`
|
|
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|`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`
|
|