Docusign Envelope ID.. 044E3A79E09243DB-A74D-6888A7163FE8 Nancy, Viscountess Blakenham's Charitable Trust A Registered Charity Report and Financial Statements 5 April 2025 DotyJsign Env?h)pe ID.. 044E3A79-E09243D8-A74D-6888A7163FEB Nancy, Viscountess Blakenham's Charitable Trust - A Registered Charity CONTENTS Pa8e TRUSTEES, ANNUAL REPORT INDEPENDENT EXAMINER'S REPORT STATEMENT OF FINANCIAL ACTIVITIES BALANC£ SHEET STATEMENT OF CASHFLOWS NOTES TO THE FINANCIAL STATEMENTS 8-14 Docu5vJn Envtrk)p8 ID. 044E3A79-E092430B-A7404886A7163FE8 Nancy, Viscountess Blakenham's Charitable Trust - A Registered Charity TRUSTEES, ANNUAL REPORT for the year ended 5 April 2025 The Trustees present the financiBI 5t3temÈnts and annual report for the year ended 5 April 2025. The financial 5tatement5 have been prepared in accordance with the accounting policies set out in note I to the financi81 statements and comply with the Charity's trust deed dated 10 July 1973, Ihe Charitie5 Act 2011 Accounting and the Ch3ritiÈs Statement of Recommended Practice leffective l January 20191 and Financial Reporting Standard FRS 102. Referemct 8nd Admlnl#rat4on Detalls ol the CharltVJ ItsTru51eesand Advi511rs Settler The Rt Hon Bery1 N3n¢y Vl*tountess Blakenham Date of Deed Iojuly 1973 Re8lStered Charity Number 266198 Trustees The Hon Mrs Mary-Anne Sergison-8rooke Simon Cowell (Resigned 19 January 20251 Nicholas Brooke Emily Fa£tini IAppointed 19 January 20251 Re8lStered Address Chippin8 Warden Mznor B&nbury Qxon OX17 ILB Accountants TMF Global Services IUKI Ltd 131b Floor, l Angel Court London EC2R 7HJ Investment Advisors Cazeno¥e Capiial Management l London Wall Place London EC2Y SAU Independent Examiners Foxley Kingham 260-270 Great Marlings Buttertield Business Park Luton LU2 8DL 8ankers Handelsbanken Banbury Branch, Unit Ib Banbury Office Village. Nora1 Way Banbury, Oxon OXIS 2SB Trust QbjÈttives (al income To Charitable purposes or accumulated for 21 years to 2 Novernber 1986. To be retairsed by the Trustees or. at their distretion, applied 45 for income. Docusign Envelope ID.. 044E3A79E09243DB-A74D-6888A7163FEB Nancy, Viscountess Blakenham's Charitable Trust A Registered Charity TRUSTEES, ANNUAL REPORT lor the year ended 5 April 2025 StnKlure. Govtrnahte and Management The Charity's ongoing activitiÈs and policies are set at the discretion of the Trusteès In accordance with the objectiwes of the Trust Deed. The Trust's principal artivity is its grant making proeramme, which 15 financed by income derived from the Charity's investment portfolio. A5 far as possible. on a year to year basis, the Trustees spek to spend this income on viable, woll researched chariiable project5 in atcordance with the objects of the Trust Deed and Lady Blakenham's W15he5. Under the term5 of the Trust Deed, the Trustees h3ve wide powers of investment at their di51retlon ènd are specifically allowed by the deed not to diversify- The Trustee5 mèintain a substanrial balance in cash to er13ble them to fulfil any emergency grant requirements. The power to appoint new or additional Trustees was vested in the Settlor during her lifetime and thereafter in the existing Trustee5. The Trustees have adopted a policy in the event of the appointment of a newTrustee whiih iricludes a brief induction and training process. This Include5 a meeting with the existing Trustees to advise on IrivÈ5tment policy, the grant rnaking process and the powers and responsibilities of the Trustees. In èddifion, any new Trustee will provided with a copy of the latest financial statements and annual return ènd any recent Investment report5. Flnanclal Review Total incoming resources of the Trust in the year ro S April 2025 were £32,99712024 £27.6291 Charitable donations made In rhe year to 5 April 2025 totalled £41,00012024 É43,0001. Artivitiesfor the Publie 8enefftt The Trustees confirm that they have referred to the guidante contained in the Charity Commission's genèral guidance on public benefit when reviewing the Chèrity's aims and objective5 and in planning luiure acrivities and 5ettin8 the Érant making policy for the year. The Trustees 3re satisfied that all Eranis made during the year are for the benèfit of ihe public and that the benefit of each and every grant see note4 in the ffnancial 5tstements. The Trustees consider Èll or8anisatiot)s that they h*e supported during the year ro be of equal imp(>rtance. PlaTr5for Future Perfjods The Trusree5 look fotward to continuing to make further charitable donations in the future. Reset¥es PoM(y It is the Trusteès, Intention ¢h3t any surplus Income should be carried forward for distribution as part of the grant making programme in the followinE year. The deficit of £15.345 has been deducted from the unrestricted funds in the income account. The policy on reserves is reviewed annually. Rlsk Poliry The major risks to which the Charitv 15 exposed, as identified by the Trustee5, hBve been reviewed 3nd the Trustees are 53tisfied that the 5Y5tems are in place to mitigète rhose risks. Docu$￿n Env?kJpe ID.. o44E3A7g￿o9243DB-A74D4888A716$FEB Nancy, Viscountess Blakenham's Charitable Trust - A Registered Charity TRUSTEES, ANNUAL REPORT for the year ended 5 April 202S siatemeDt of Trustees. resp0nslblllllesforthefftnantlal statements Law applicable to charities in En8lÈnd & Wales requires the Trustees to prepare financlal statements for each financial year whith give a true and fair view of the Ch3rity's financial activities durin8 the year and of its financial position at the endof the year. In preparin8financial statements givinB a true and fair view, the Tru5tee5 shouldlollow best practice nd.. Select stjitsble acrountin8 ptsli¢ies and then appty them ¢onsistently.' observe the methods and principle5 in the Choritie5 SORP,. make judEements and estimates that are reasonable and prudeni. 5t4te whetheT applicable accountin8 Standards have been followed, subject to any departures disclosed and explained in the finantial statements., and prepare the financial stateme¢)ts on the 8tsing toncem basi5 unless It is sn4ppropriate to presume that the Charitv will continue in operation. The Trustees 4Te re5pon5ible for keepin8 hccounting records wh¢ch disclose with reasonable accuracy the finan¢ial POSltion of the Charity. They are also responsible for safe8uardin8 the assets of the Charity and hente for takin8 reasonable 5tep5 for the prevention and detection of fraud and other irreaularities and ensuring tompli3nce with the trust deed. Approved bytheTNstee5 on.. 30 January 202613.'30.'26 AM PST Datè and signed on their behalf by.. LIO¢￿5￿￿Y. Trustee Docusign En￿￿pe ID.. 044E3A79-E09243DB-A74N6888A7163FEB INDEPENDENT EXAMINER'5 REPORT tg the Trustee5 of Nancy. Vi5UiUlltess Bla*enham'sChwrit¥blt Tryst I report to the charity Trustee5 on rny examination of the financi3151atements of the Nancy, Vi5countPS5 Blakenham's Charitèble Trust fer the year ended 5 April 2025. Re5pon5ibilitie$ and basls ol report As thecharitytrustee5 of the Trustyou are responsible forthe preparation of thefinancial statements in accordancewith the requirements of the Charities Act 20111'tht Act'l. I report in respect of rny examination of the Trust's financial statements tèrried out under section 145 of the Art and in tarryinÉ out my examination I have followed èll applicable Direction5 given by the Charity Commission under section 14515llbl of the Act. Independent exarniner's staternpiit I havè completed my examination. I confirm that no matefial matter5 have come to my attention in connection with the examin?tion giving rne cause to believe thar In any material respect.. act comply with the applicable requirements concerning the form 3nd content of financial statements set out in the Charitie5 (Accounts and Reports) ReEulation5 2m8 other than any reouirement that the finBncial statements 6lve a true and f3irview whtch is not a maiter considered as part of an Sndependent examination. I confirm that there are no other matters the financial staternents to eache which your aitention should be drawn to enable a proper under5tandinE of Mr Step For and on behalf of FKCA Limited 260-270 Great Marlings Butterfield Business Park Luton n Mason BSC FCA LU2 8DL Date-. Docusign Envèbpa IO.. IM4E3A79-E09243DB-A7404888A7163FEB Nancy, Viscountess Blakenham's Charitable Trust - A Registered Charity STATEMENT OF FINANCIALACTIVITIES for the year ended 5 April 2025 Unrestrlrted Funds Expendable EThdowrnent Total Total lftcome 2025 2024 Note INCOME AND ENDOWMENTS Investments 32,997 32.997 27,629 TOTAL INCOME 32,997 32,997 27,629 EXPENDITURE C95t of raising fund5 Charitable artivities 994 994 911 48,342 48,342 47.138 TOTAL EXPENDITURE 994 48.342 49.336 48.050 NET IEXPENDITUREIIINCOME BEFORE GAINS ANP LOSSES ON IPIVESTMENTS 19941 115.3451 116,3391 120.4211 Net eains/llc>ssesl on investment assets 174.6501 174,6501 132.557 NET INCOMEIIEXPENDITUREI AFTER GAINS AND LOSSES ON INVEsfMENTS WHICH REPRESENTS NET MOVEMENT IN FUNDS 175,6441 115,3451 190,9891 112.136 FUND BALANCES BROVGHT FORWARD 1.646,760 14,932 1,661,692 1.549,556 FU14D BALANCES CARRIED FORWARD 1.571,116 14131 1,570.703 1.661,692 Docusign Enwekpe ID.. 044E3A79-E09243D8474D*888A7163FEB Nancy, Viscountess Blakenham's Charitable Trust - A Registered Charity BALANCE SHEET as at 5 April 2025 2025 1024 Note FIXED ASSETS Investments 1.557,174 1,648,681 1,557.174 1.648,681 CURRENT ASSErs Cash at bank 23.169 23.169 20,537 20,537 7.526 LIA8ILITIES= amountsfalllnz due wllhln one year 9.640 NET CURRENT ASSETS 13,529 13,011 TOTAL ASSETS LESS CURRENT LIABILITIES 1,570,703 1,661,692 Representin8.' UNRESTRICTED FUNOS Expendable endowrnent Incorne io 1,571.116 14131 1,646,760 14.932 io 1,570,703 1,661.692 Approved by the Trustees 01?.. 30 January 202813.'30'.26 AM PST Oate and signed on their behalf by.. OoGus*n￿trr. Mcths ACeg1(W3DA411.. Trustee Docusign Envelope ID.. 044E3A79-E09243DB-A74D4B88A7163FEB Nancy, Viscountess Blakenham's Charitable Trust - A Registered Charity STATEMENT OF CASHFLOWS for rhe year ended 5 April 2025 2025 2024 Noie C*sh ftowsfrom operatlThg arti¥itles.' Netrash used In operatlnE a¢thitSes 14 147.2221 143,5561 Cash Ilows from investin8 act￿lt￿$.. Investment income 32,997 14,909 27,629 Proceeds from sale of investments Netcash provided by IhvÈstlnz arffvltles 47.906 27,629 Chan8È in cash and cash equfvalems in the year Cash and cash equivalents at the beginning of the year 115,9271 57,923 41,996 Cash and cash equivalents atthe eThd of the year 42.680 41,996 Represented b¥.. Cash held within the investment portfolio Cash at bank 19,511 23,169 21.459 20,537 42,680 41,996 Docusign Enveky8 ID. 044E3A79-E092430B-A74D4888A7163FEB Nancy, Viscountess Blakenham's Charitable Trust - A Registered Charity NOTES TO THE FINANCIALSTATEMENTS at S April 2025 ACCOUNTING POUCIES The principal accounting policies 3dopted are as follows.. al Basis of preparation aftd assessmert o18oing ¢ok)¢ern The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice (applicable to charpties prepèrin8 their accounts in accordance with the Financial Reporting Standèrd èpplicable in the UK and Republic of Ireland IFRS 10211 leffecrive l January 20191 the Charitie5 Act 2011. The financial 5tatemÈnts have been prepared under the hi5torit21 tost convention with items recognised at tost or transaction value unless otherwise stated in the relevant notelsl to these financial 5t3ternentS. The Trustee5 consider that there are no material uncertainties about the Charity's ability to contintse as è 8oin8 concern. bl Fund 5tru¢ture The expendable endowrnent reprp5ents the funds origlnally gifted to the Charity and is to be retained by the Trustee5 or, at their discretion, applied a5 for incorne. The unrestricted funds represent5 the funds available for distribution bv theTrustee5 in Hccordance with the trust deed. tl In¢ome recognltion All income is recoÈnised once the Charity has entitlernent to the income, there is sufficient ￿rtaInty of receipt and so It is probable that the Income will be received, and the aTnount of income receivable can be measured reliably. Interest on funds hdd is included upon notification of the interest paid or payable. DNidends are recognised once the dividend ha5 been declared ènd notification ha5 been received of the divldend due. dl Expendilure retogn611on Liabilities are recognised as expenditure as 500n as there is a legal or constructive obligation commitring the Charity to thar expenditure. it is probable ihat settlement will be required and the amount of the L>bligation can be me35ured All expenditure 15 accounted for on an accruals basis. All expenses. includinB support Costs and govemance costs. are allocated or apportioned to the applicable expenditure headings in the Statement of Financial Activitie5. For more information on this allocation refèr to note el below. Grants payable are p3yments made to third partie5 in furtherènce of the charitable objectives of the Charity Provision is made for grènts approved by the Trustees In the year. During the year, all grants approved by the Trustees were paid. Èl Allocatlon ol goverr￿nce and other sUPPQrt costs Governance and support C05t5 have been èllocated between charitable activities and 8overnance based on the actNity to which they relate. The alllxation is anèlysed in note S. GovÈrnance costs comprise a11 costs involving the public accountability of the Chèrity and Its com￿13nCe with re8ulation and good practice. Cost ol ralsingfund5 The cost of 6eneratinE fund5 cornpri5e5 the investment management charges. DoGusyn Env&bp8 ID.. 044E3A79-E09243DB-A74D4888A7163FEB Nancy, Viscountess Blakenham's Charitable Trust - A Registered Charity NOTES TO THE FINANCIAL STATEMENTS at 5 April 2025 ACCOUNTING POLICIES. continued gl Charitable activitit$ The expenditure on charitable actwities comprises grants mB(Se iri the year and governance costs. No support costs are incurred by the Tru5tee5 Ill the grant making process, asthe Trustees undertake thi5 se￿1[2 at no char8e. h) Fixed assetln¥estments Investment5 are initially recognised at their transaction value and subsequently tneasured at their marker value a5 at the Balance Sheet date using the c1051ng quoted rnarket price. The Statement of Financial Activities includes the net gain5 and1055e5 aiisina on revaluation and disposals throughout the year. il Realised 8ains and losses All gain5 and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated 35 the diffÈrence between salès proceeds and their opening carryin8 value or their purchase value if acquired subsequent to the first day ef the financial year. Unrealised gains and losses are calcu13ted a5 the difference between the fair value at the yèar Ènd and their carrying value. Realised and unrealised investment gain5 and losses are combined in the Statement of Financial Activities. Il Currency The financial Statements are prepèred in 5terlin8, which is the functional currency ef the Charity. Monetary amounts in these financial statements are rounded to the nearest £. INCOME AND ENt)OWMENT 2025 1024 Investment Imtome Geo8raphically'. Withiri thè UK 31.757 26,997 31.757 26,997 Interest on cash deposits 1.240 632 32.997 27,629 All investment Income rÈl3tes to quoted investments. COSTOF RAISING FUN05 2025 2024 Investment mana8ement charges 994 912 Do¢usign Envelop? ID.. 044E3A7&E09243DBA74D*888A7163FE8 Nancy, Viscountess Blakenham's Charitable Trust - A Registered Charity NOTES TO THE FINANCIAL STATEMENTS at S April 2025 ANALYSIS OF CHARITABLE AcfiviTIES The Charity vndertakes its charitable aCt￿VitIeSthr0ugh grant making and )wardedgrant5 ro a number of institutions in furthÉrantÈ of its charitable objective5. 2025 2024 Grant funded a¢tlvity Support ènd Eovernance costs 41,0 7.342 43,000 4.138 48.342 47.138 The followine grants were mède bythe Trustee5 duringthÈ year.. Z025 2024 OVERSEAS 112024- 11 donation totalling PHYSICAL DISABILITIES 512024- 51 donatlOn5 totallin8 MEDICAL WELFARE ANL) RESEARCH 212024-31 donations totallln8 OTHER 3.0(Xl 14.OOD 14,tNIO 6,OLN) ii.wo 712024- 61 donation5 totalling 18,000 15,LKIO 41,000 43,000 All Erants were rnade to institutlDns. DONATIONSTO REGISTERED CHARITIES 2025 20YI OVERSEAS ZANE- Zirnbabwe B National Emergencv 3.OOD Total for Overseas 3,000 PHYSICAL DISAtsILJTIES 4 Sight Blind Veterèns UK Fi8ht for Sight Turtle Key Waveney Stardust 3,0 3,OOD 3,0 2,000 3.000 Tot31 for Physital Olsèbilities 14,000 14,(QO 10 Docu519n Envelop& ID". 044E3A7￿09243D8-A74D￿888A7l63FE Nancy, Viscountess Blakenham's Charitable Trust - A Registered Charity NOTES TO THE FINANCIAL STATEMENTS at S April 2025 ANALYSIS OF CHARITABLE ACTIVITIES- torttirtued 1025 Z024 MEDICALWELFARE AND RESEARCH Marie Curie Cancer C3re 3,￿0 3.000 Maggies Cancer Caring Centre The National Brain Appeal 5,(NJO Tora1 for Medical Welfare and Research 6,000 11,0 OTHER Atlantic Salmon Trust Derby Toc H Children's Camp Open Age Spencer Contact The BruceTru5t 2.ofMI 3,0 3,fMIO 2,OLK> 2,OOD Thè Suffolk Foundation The National Literacy Trust 3,QOO 3,0 Total for Other 18,000 15.0(K> 5. ALLOCATION OF GOVERNANce AND OTHER SUPPORT COST5 2025 2024 ChaTltable Activiiles Charitable Aclivities UNRE5TRICTEO INCOME FUND Governance Govemante Bank Charge Independent Examiners Accountancy Bnd ta¥ation services io 1,920 5,422 1,830 2,298 ?.342 4,138 6. TRUSTEES EXPENSES AND REMUNERAnON None of the Trustees received any remuneration or reimbursement of expense5 in respect of the financ￿al ye2r ended 5 April 202512024 £Nill- The Trust has nts employees. The Trust had no secret2ri31 fees for the year12024 Docusign En¥ek)pè ID." 044E3A79409243D8-A74D-6888A7163FE6 Nancy, Viscountess Blakenham's Charitable Trust - A Registered Charity NOTES TO THE FINANCIAL STATEMENTS at 5 Aprll 2025 FIXED Ass￿ INVESTME1￿5 Total 2025 Total 2024 Market value at 5 April 2024 Disposal proceeds Net gain5111055esl on revaluation and disp05al 1.627,222 114.9091 174.6501 1,494,665 132,557 Market value at 5 April 1025 Cash held within the investment portFolio 1,537,663 19.511 1,627.222 21,459 1,557,174 1,64B,681 Historical cost as at 5 April 2025 1,339,016 1.351,378 Geographical split.. Investment 3ssÈts in the UK 1.537,663 1,627.222 All investments are quoted. Investrnents include the following with a value greater than 5% of the portfolio at 5 April 2025.. Name Holdin8 Mavket Value Gryphon East River Fund 6.499 1.537,663 CASH AT BANK 2025 ZOZ4 Stockbroker5 incotne accuuni 712 30 Bank account 22,457 ZO.507 23.L69 20,537 12 Docu$wJn Envebpè ID.. 044E3A79-E09243D8474D-6888A7163FE8 Nancy, Viscountess Blakenham's Charitable Trust - A Registered Charity NOTES TO THE FINANCIAL STATEMENTS at S Aprll 2025 9. UABILITIES. amountslalling due wiihln one year 2025 2024 Investment managers Independent Examiner5 Accounting and taxation services 1,179 1,830 4,517 1.920 7.720 9,640 7,526 10. UNRESTRICTED FUNDS Expendable Emdowment Income Fund Total Unrestricted funds comprise the following.. Investments Cash 1,557,174 13,942 1,557,174 23.169 19,6401 9,227 19,6401 Creditors 1,571,116 14131 1.570,703 11. RELATED PARTIE5 There were no trènsactions with related pbrties. IZ. GRANT COMMITMENTS There are no future non-bindin8 Cornrnltments. IJ. VOLUNTEERS Otherth2n theTTu5tee5, the Choriiy receives no contribution from volunteers. 14. RECONCILIATION OF NET MOVEMEKts IN FVIIDSTO NET CASH FLOW FROM OPERATING A￿1VITIEs Z025 2024 Net movement in funds las perthe Statement of Financial Actwitiesl IGainslllesses on investrnent5 shown in Investin8 activities Deduct investment income shown in Investing activities Increaselldecreasel in creditors 190,9891 74,650 132,9971 2,114 112.136 1132.5571 127,6291 4,494 Balance carried forw3rd 147,2221 143.5561 13 Docuswn Enwebpe ID.. 044E3A79-E09243DPA74D-6888A7163FEB Nancy, Viscountess Blakenham's Charitable Trust - A Registered Charity NOTES TO THE FINANCIAL STATEMENTS at S April 2025 15. SUMMARY OF FUND MOVEMENTS Fund balances brought forward Fund balance5 iarrled forward Gains and 1o55es Fund Name Incofne Expefidiiure Transfers Expendable endowrnent Income 1.646,760 14,932 19941 148,3421 174,6501 1,571.116 14131 32.997 Total Funds 1,661.692 32,997 149,3361 174.6501 1,570,703 14