2025-12-31-accounts

Financial Statements

for the year ended 31 December 2025

for

The Dorothy Bayles Trust

The Dorothy Bayles Trust

Contents of the Financial Statements for the year ended 31 December 2025

	Page
General Information	1
Independent Examiners' Report	2
Trustees Report	3
Receipts and Payments account	5
Statement of Assets and Liabilities	6
Notes to the Financial Statements	7

The Dorothy Bayles Trust

General Information

for the year ended 31 December 2025

TRUSTEES: Chairperson Mrs A D V F Campbell Trustees Mr R M B Strawson Mrs A D V F Campbell Mrs N J Madden Mrs C E Pascoe ADDRESS: Brackley House Thorpe Lane Tealby MARKET RASEN Lincolnshire LN8 3XJ BANKERS: HSBC 221 High Street LINCOLN LN1 1TS INDEPENDENT EXAMINERS: Nicholsons Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN REGISTERED CHARITY NUMBER: 271259

Page 1

The Dorothy Bayles Trust

Independent Examiners' Report to the Trustees

for the year ended 31 December 2025

I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 December 2025.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiners’ Statement

I have completed my examination. I confirm that no material 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 charity as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 accounts to be reached.

Nicholsons Chartered Accountants Newland House, The Point Weaver Road LINCOLN Lincolnshire LN6 3QN

10 August 2026

Page 2

The Dorothy Bayles Trust

for the year ended 31 December 2025 Trustees Report

The trustees present their report and the financial statements for the year ended 31 December 2025.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102 applicable in the UK and Republic of Ireland effective from 1 January 2019.

Governance

The charity is administered in accordance with its constitution. It is registered under the registered charity number 271259 and its constitution has been filed with the Charity Commission. The governing document is the Trust Deed of 1976 made between Frederick Strawson and the original trustees. The trust deed established the Dorothy Bayles Trust (in the name of Frederick’s late wife) and assigned Frederick Strawson’s farm, Thoresway Manor, to be held in trust and funds derived from it to be distributed by the trustees for the charitable purposes at their discretion.

Recruitment and appointment of trustees

The trustees have served in 2025 as stated on page 1. New trustees are selected for their willingness to help the trust without any financial reward. The current 4 trustees are cousins and the offspring of the original trustees (and grandchildren of Dorothy Bayles). All have strong farming knowledge although this is not a pre-requisite of being a trustee.

Objectives and Activities

The Charity Commission’s guidance on Public Benefit (PBI) has been taken into consideration by the trustees when setting the objective of the trust, which is to collect the rent payable for the farm from F. Strawson Ltd (the company tenant) and to allocate the residual funds, after deduction of overhead costs, as grants for charitable purposes, as determined by the trustees. All trustees carry out their duties on an entirely voluntary basis in order to maximise the funds available for public benefit. One administrative volunteer assists the trustees.

Achievements and Performance

During 2025, £45,500 was distributed to 21 different charities, ranging from local hospices, foodbanks and charities supporting young people with special needs, to national and emergency aid charities. The total distributed is in line with the previous five years. There were two grants of £3,000 made (to British Red Cross and Save the Children); all other grants were of £2,000 or less. All the charities supported expressed their thanks for the grant to help further their charitable activities.

Reserves Policy

The trustees consider that the trust fund currently has adequate reserves on hand to cover its expenditure. Grants are only made from existing cash held in the current account at HSBC. The trust has no commitment to make repeated grants to any charity although it does support some charities regularly. At each biannual meeting held to distribute grants, which take place following rental income received on 6[th] April 6[th] and 6[th] October, trustees first discuss and evaluate the cash needed to be held back for upcoming overhead expenditure, plus an amount for contingency, and distribute accordingly. As of 31[st] December 2025 the cash reserve was £13,567, considerably higher than usual because of large professional fees pending in spring 2026. Because of recent changes in the ownership of the farming tenancy, which is a limited company and provides approximately 99% of our annual income, trustees have become aware that in future both expenditure (on professional fees) may increase and income (from rent) may decrease, reducing the charity’s ability to make grants to the same level as in the past and significantly larger reserves may need to be held. Net assets at the year end were valued at £2,592,000.

Page 3

The charity now has a Financial Reserves Policy and Procedures document (ref. Charity Commission: Building Reserves CC19 Guidance).

Risk Management

The trustees have reviewed systems to ensure that adequate risk controls are in place and now have an Internal Risk Management Policy and Procedures document (ref Charities and Risk Management CC26 Guidance). Trustees are aware the charity faces a potential financial threat and will attempt to mitigate the effects of this to ensure the future viability of the trust’s charitable work.

Approval

This report was approved by the trustees on 7 August 2026 and signed on their behalf by:

Mrs N J Madden

Page 4

The Dorothy Bayles Trust

Receipts and Payments Account for the year ended 31 December 2025

Notes Incoming resources Rental income Other income Total incoming resources 5 Resources expended Direct charitable expenses 2 Governance costs 3 Bank Charges 4 Total resources expended Net incoming/(outgoing) resources Balance brought forward Balance carried forward	Unrestricted Funds £ 45,600 52 45,652 47,094 1,146 47 48,287 (2,635) 2,594,702 2,592,067	Total 31.12.25 £ 45,600 52 45,652 47,094 1,146 47 48,287 (2,635) 2,594,702 2,592,067	Total 31.12.24 £ 45,600 47
			45,647
			42,625 - 68
			42,693
			2,954 2,591,748
			2,594,702

Page 5

The Dorothy Bayles Trust

Statement of Assets and Liabilities 31 December 2025

		2025			2024
	Notes	£	£	£	£
FIXED ASSETS
Fixed asset investment	6	2,578,500			2,578,500
CURRENT ASSETS
Cash in hand and in bank		13,567		16,202
NET CURRENT ASSETS			13,567		16,202
NET ASSETS		2,592,067			2,594,702
FINANCED BY
UNRESTRICTED RESERVES	7	2,592,067			2,594,702
TOTAL FUNDS			2,592,067		2,594,702

The financial statements were approved by the trustees on 7 August 2026 and signed on its behalf by:

Mrs N J Madden

Page 6

The Dorothy Bayles Trust

Notes to the Financial Statements

for the year ended 31 December 2025

1. ACCOUNTING POLICIES

a) Basis of preparing the financial statements

The charity constitutes a public benefit entity. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective from 1[st] January 2015, (the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011.

The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £000.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

b) Incoming Resources

Rental income is accounted for on a receipts basis.

The income from rentals is shown gross, and the associated costs included in direct charitable expenses.

c) Resources expended

All expenditure is accounted for on a payments basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributes to particular headings they have been allocated to activities on a basis consistent with the use of resources.

d) Value Added Tax

Value Added Tax is not recoverable by the charity and as such is included in the relevant costs is the Statement of Financial Activities.

e) Fixed Asset Investments

Fixed Asset Investments are recorded at market value, any gains or losses are recorded within the revaluation reserve within the statement of assets and liabilities.

Page 7

The Dorothy Bayles Trust

Notes to the Financial Statements

For the year ended 31 December 2025

2. Direct Charitable Expenditure

Donations Insurance 3.Governance Costs Independent examiners fees 4.Bank Charges Bank Interest 5.Incoming resources Rental of land Wayleave	2025 £ Total 45,500 1,594 47,094 2025 £ Total 1,146 1,146 2025 £ Total 47 47 2025 £ Total 45,600 52 45,652	2024 £ Total 41,000 1,625
		42,625
		2024 £ Total -
		-
		2024 £ Total 68
		68
		2024 £ Total 45,600 47
		45,647

Page 8

Notes to the Financial Statements

The Dorothy Bayles Trust

For the year ended 31 December 2025

6. Fixed asset investment

ixed asset investment
Valuation at 1st January 2025 Movement in valuation in the year Net book value as at 31 December 2025	Land £ 2,578,500
	- 2,578,500

The land represents 573 acres and has been valued by the trustees at £4,500 per acre on a tenanted basis.

7. Unrestricted Reserves

Included within unrestricted reserves is £2,005,500 of non-distributable reserves relating to previous years gains on investment property.

Page 9