CORNWALL LEUKAEMIA TRUST
ANNUAL REPORT AND ACCOUNTS
YEAR ENDED 31 DECEMBER 2025

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||Page|
|---|---|
|Trustees' Annual Report|2 - 4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Accounts|8 - 10|





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|ofessional advisors:||
|---|---|
|Bankers|Lloyds Bank plc|
|Investment managers|Brewin Dolphin|
|Accountants|Francis Clark LLP Chartered Accountants|
|Independent examiner|Mr A J Fry|



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||Unrestricted|funds|
|---|---|---|
||2025|2024|
||£|£|
|Income from:|||
|Donations|14,583|21,425|
|Gift Aid|(409)|(657)|
|Investment income|17,782|21,056|
|Total|31,956|41,824|
|Expenditure on:|||
|Charitable activities|||
|Patient grants|93,805|61,642|
|NHS administration expenses|2,876|577|
|Professional charges|11,376|12,063|
|Salary contribution||9,994|
|Sundry||458|
|Honorarium|1,000|1,250|
|Training and tuition fees||6,255|
|Total|109,057|92,239|
|Net (expenditure)|(77,101)|(50,415)|
|Other recognised gains and losses|||
|Unrealised and realised gains|||
|on investment assets|62,682|52,839|
|Net movement in funds|(14,419)|2.424|
|Fund balance brought forward at 1 January 2025|828,522|826,098|
|Fund balance carried forward at 31 December 2025|814,103|828,522|





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||||2025||2024|
|---|---|---|---|---|---|
||Note|||||
|Fixed assets:||||||
|Investments|2||789,086||797,069|
||||789,086||797,069|
|Current assets||||||
|Debtors and prepayments||3,503||4,658||
|Monies held with investment managers<br>Cash at bank and in hand||7,695<br>20,539||16,206<br>17,167||
|||31,737||38,031||
|Current liabilities||||||
|Creditors and accruals|3|(6,720)||(6,578)||
|Net current assets|||25,017||31,453|
|Total assets less current liabilities|||814,103||828,522|
||||||======|
|Funds||||||
|Unrestricted|||814,103||828,522|
||||||======|






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|INVESTMENTS||
|---|---|
||Listed Investments|
||£|
|Market value at 1 January 2025|797,069|
|Additions at cost|204,878|
|Disposal proceeds|(275,543)|
|Unrealised and realised gain on revaluation and disposal|62,682|
|Market value at 31 December 2025|789,086|



|The individual market values of the investments were:|||
|---|---|---|
||2025|2024|
||£|£|
|Alcon AG|11,282|-|
|Allianz Global|-|10,732|
|Alphabet Inc|10,704|11,332|
|Amazon|13,042|13,309|
|Artemis US|-|24,166|
|Baillie Gifford Japan|13,260|12,029|
|Barclays|14,302|-|
|Berkshire Hathaway|14,200|18,452|
|BFNI United Kingdom BDS|-|10,030|
|BFNI United Kingdom Gilt|15,352|15,421|
|BNY Mellon Hinc|17,476|15,428|
|BNY Mellon Inv Funds Asian inc|14,560|-|
|BNY Mellon Fund Managers Gilt (previously Insight Inv. UK Gov)|10,790|10,587|
|Brown & Brown|-|11,482|
|Colchester GLB BND|17,434|12,089|
|Diageo|-|11,875|
|Dodge & Cox|24,012|23,330|
|Experian|10,459|15,158|
|Fastenal Corn|-|16,243|
|Fidelity Inv Funds Pacific ex Japan|-|10,800|
|Fidelity Inv Svc|-|11,214|
|Fidelity UCITS ICAV|26,180|24,547|
|Findlay Park|-|20,872|
|First Sentier|17,714|13,554|
|Fundsmith Equity|-|16,861|
|Glaxosmithkline|16,202|11,957|
|Inditex|-|10,832|
|Institutional Cash Series Sterling|15,000|-|
|Intercontinental Exchange Inc|11,078|10,942|





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|Invesco Far Eastern Inv|21,745|13,077|
|---|---|---|
|Invesco Markets NASDAQ|27,714|24,924|
|Shares II PLC USD Treasury 7-10yr|12,575||
|Janus Henderson|17,951|20,142|
|JP Morgan Fund ICVC Macro|-|11,667|
|JP Morgan US Equity Income|25,995|24,739|
|Legal and General|10,109||
|Man International|-|13,359|
|MI Select Managers Bond|30,003||
|Microsoft|10,786|10,093|
|Muzinich Funds|12,228|11,975|
|National Grid|16,654|13,860|
|Ninety-One Managers Diversified Income|10,391|10,135|
|Physical Gold Index tracker|27,719|22,172|
|PIMCO Global|-|15,454|
|Relx PLC|-|14,262|
|Rio Tinto|13,247|10,438|
|Royal Dutch Shell|13,344|12,058|
|Schroder (FDRE) Unit Trust|12,097||
|SSGA|18,144|18,347|
|ThermoFisher|11,631|11,211|
|TR Property|-|12,250|
|Twenty -Four Global|-|16,243|
|Unilever|10,205|10,779|
|Vanguard Funds PLC S&P 500|35,508||
|VISA Inc Corn Stk USD|10,429||
|Xtrackers<br>II GBL INFT LKD BD|10,843||
|Others less than £10,000|156,721|136,642|
||789,086|797,069|



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|CREDITORS|||
|---|---|---|
||2025|2024|
||£|£|
|Accruals|6,720|6,578|
||6,720|6,578|



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