2025-07-31-accounts

Docusign Envelope ID: 5A0106D4 ~~-~~ 9E36 ~~-~~ 413A ~~-~~ A8C2 ~~-~~ 5D51139B191F

Henry Colborn (or Colbron)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2025

The Trustees submit their report and financial statements for the year ended 31 July 2025.

The accounts comply 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, second edition (Charities SORP (FRS 102)) and with the Charities Act 2011.

OBJECTIVES AND ACTIVITIES

~~Charitable Objects~~

After defraying properly incurred expenses, the income of the Charity is to be applied in one or both of the following ways:

• 1) In providing special benefits of any kind not normally provided by the Local Education Authority for the Ashwell County Primary School, and;

• 2) In otherwise promoting the education, including social and physical training, of children resident in the Parish of Ashwell in the County of Hertfordshire.

Aims

Within the terms of its Objects, the Charity aims primarily to support Ashwell County Primary School, and if funding permits, also to support a range of educational, social and sporting opportunities.

~~Objectives~~

The Charity’s objectives for the year were to maximise income and to growa strategic relationship with Ashwell Country Primary School.

Activities

As in the previous reporting period, the main beneficiary was Ashwell County Primary School which received funding for:

• e Installing an Adventure Trail in the school playground e Access to targeted therapies e Free violin tuition for all Year 3 for two terms

• e Special Educational Needs and Disabilities (SEND) assessment and advice e SEND specialist support

• e Support for families on lower incomes to pay for school trips/extracurricular activities e Subsidy of residential trips to ensure affordability

• Under the second limb of its Objects, the Charity made grants to: e Ashwell Tennis Club for youth coaching

• e Two individuals.

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Docusign Envelope ID: 5A0106D4 ~~-9~~ E36 ~~-4~~ 13A ~~-~~ A8C2 ~~-5~~ D51 139B191F

Henry Colborn (or Colbron)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2025

Public Benefit

The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit, ‘Charities and Public Benefit’.

The Charity’s public benefit is enshrined in its charitable Objects.

The Trustees reserve the right not to disclose reasons why a particular application may havebeen approved or rejected, so as not to impugn their discretion, but the Charity will not discriminate on the grounds of any characteristic protected by the Equality Act or any other relevant legislation.

~~Strategy~~

The Charity’s strategy has been to continue work with the Primary School, through its Head and Chair of Governors, to anticipate the needs of the Primary School year on year over a longer term.

~~Grant-making policies~~

The Charity’s main goal is to support Ashwell Primary School and the children educated there. However, it does not provide funding for private tutoring of children to supplement the teaching they receive at school, nor does it fund the cost of obtaining private diagnoses or private therapies.

Applications under the second limb of the Charity’s Objects are only considered to the extent there are funds available after providing support to Ashwell Primary School. In accordance with charity law, the Trustees take the phrase ‘children resident in the parish of Ashwell’ at face value, to mean individuals who are simultaneously (1) under 18 (or 18 but still in secondary education) and (2) living full-time in the parish of Ashwell.

Subject to availability of funds, the Charity will consider applications within the second limb of the Charity’s Objects from organisations and children in the village. An application from an organisation can only be considered to the extent it is “to promote the education, including social and physical training, of children resident in the parish of Ashwell” and:

• e is either for funding to be ring-fenced for an activity exclusively for ‘children resident in the parish of Ashwell’ within the meaning explained above;

• e or is for funding strictly proportionate to the percentage of the organisation’s regular beneficiaries/members who are ‘children resident in the parish of Ashwell’ within that meaning. An applicant organisation would be expected to provide a robust analysis of how it had established that percentage.

Review of Activities

The Trustees approved grants in the year totalling £93,763 (2024: £72,299) to Ashwell Primary School, Ashwell Tennis and Sports Club and two individuals.

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Docusign Envelope ID: 5A0106D4 ~~-~~ 9E36 ~~-~~ 413A ~~-~~ A8C2 ~~-~~ 5D51139B191F

Henry Colborn (or Colbron)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2025

ACHIEVEMENTS AND PERFORMANCE

~~Performance against strategy~~

The Primary School remains the chief beneficiary, serving as it does the majority of children in the village and children from neighbouring areas. The impact of the previous year’s funding is reported to Trustees as part of any renewed bid.

~~Investment performance~~

The investment income for the year amounted to £95,197 (2024: £98,096).

There was a total return of 6.8% (2024: 8.8%) on the Merchant Taylors’ Income Biased Charities fund. The fund is benchmarked against the wider charity peer group, ARC Charity Steady Growth Index, which achieved a total return of 6.1% (2024: 10.3%) and a composite index, which achieveda total return of 9.7% (2024: 12.9%). The fund’s primary objective is to generate a return over the long term of 3.5% above the CPI rate of inflation.

FINANCIAL REVIEW

~~Investment powers and policy~~

The Trustees’ investment policy is that income should be maximised as far as possible whilst seeking to maintain capital growth.

Merchant Taylors’ Income Biased Charities Fund is managed on a discretionary basis. It has a balanced mandate so is managed for a combination of capital and growth. There are no investment restrictions and hence no social, environmental or ethical considerations as such are taken into account.

It is a fund for investors with a medium risk tolerance, with a 6-10 year time horizon and the capacity to tolerate a temporary or, sometimes, permanent capital loss. The benchmark for the fund is explained earlier in this report, under the heading Investment Performance.

Financial reserves

Towards the end of the reporting period the Trustees adopted a new policy on financial reserves. The policy is to have £20,000 in free reserves (ie, liquid, unrestricted and undesignated funds), on the basis that this is roughly equivalent to 3 ~~—~~ 6 months’ expenditure.

The context is as follows. The single risk to income is a drop in investment income. As to expenditure, the Charity can control its level of grant-making. Its biggest contractual cost is with Bradestrete Services Limited, a related party which would be sympathetic if the Charity were in cashflow difficulties. The equivalent of 3 ~~-~~ 6 months’ expenditure is a reasonable amount to keep in case income slows.

At the end of the reporting period the Charity’s Unrestricted fund stood at £47,305 (2024: £84,115) which is equivalent to over a year’s expenditure and therefore in excess of the policy range. The Trustees anticipate that a combination of higher costs and adjusted grant-making in the period ending

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Docusign Envelope ID: 5A0106D4 ~~-~~ 9E36 ~~-~~ 413A ~~-~~ A8C2 ~~-~~ 5D51139B191F

Henry Colborn (or Colbron)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2025

July 2026 is likely to bring the Unrestricted Fund within the policy range as at the end of that period.

~~Risk management~~

The Trustees regularly review the present status of those operational risks which might diminish the Charity’s effectiveness, and the measures in place to mitigate them.

The potential for grant fraud is acknowledged as being a major risk to which the Charity, and charities like it, may be subject. However given the nature of the Charity and its beneficiaries, this risk is mitigated by close oversight of the Trustees and the Bradstrete staff. The Charity takes proportionate measures to verify the identity and circumstances of applicants under the second limb of the Charity’s objects (otherwise promoting the education, including social and physical training, of children resident in the Parish of Ashwell).

The Trustees are aware that safeguarding is a high priority for the charity sector as a whole. The Charity’s beneficiary Ashwell Primary School is itself subject to the stringent safeguarding regime for state-maintained schools. In the context of the Charity making receiving applications from other organisations to benefit the children described in the second limb of the Charity’s Objects, the grant application form requires the applicant organisation to certify that the relevant staff are DBS checked. The Trustees believe that this is a proportionate approach.

The other major risk to which the Charity is exposed is the value of, and yield from, its investments. Investments in financial instruments are monitored closely, with regular scrutiny of investment managers’ performance taking place, assisted by the Merchant Taylors’ Company’s investment committee.

The Trustees take their responsibilities under the Charities (Protection and Social Investment) Act 2016 seriously and have considered the implications, bearing in mind that the Charity conducts no fundraising activities. The Charity is a charitable trust whose board is drawn from members of the Merchant Taylors’ Company. It does not carry out any fundraising activity in order to raise funds from the general public. It does not work directly with commercial sponsors or engage professional fundraisers. There were no complaints made in respect of fundraising during the year, because there was no fundraising.

~~A review of the final position at the end of the reporting period~~

The Endowment stood at £3,026,533 (2024: £2,741,567). The key sources of income performed in line with the previous period, with £95,197 (2024: £98,096) received from investments over the year.

FUTURE PLANS

The Charity owns the freehold of the Rolly’s Lane Netball Courts. The Courts are held under a lease by Hertfordshire County Council, for use by Ashwell Primary School. The School no longer has a use for the Courts. As a result, the Charity has submitted a pre-application to the Local Planning Authority for permission to build two houses on the netball courts, which received a positive response. The Trustees’ vision is to obtain detailed planning permission to maximise the value of the site and sell the Courts and invest the proceeds, enabling HCT to increase its grant-making budget to further HCT’s charitable purposes. The valuation therefore includes an element of ‘hope value’, reflecting this potential and accordingly is inherently judgemental with the positive response to the pre application forming the basis of the increased valuation.

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Docusign Envelope ID: 5A0106D4 ~~-~~ 9E36 ~~-~~ 413A ~~-~~ A8C2 ~~-~~ 5D51139B191F

Henry Colborn (or Colbron)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

~~Governing document~~

The Charity was founded by a will dated 1 August 1655, and is currently governed by a Scheme made in 1955.

~~Appointment of Trustees~~

The Trustees are appointed by resolution of the existing Trustees from the membership of the Merchant Taylors’ Company, with regard paid to the particular skills and expertise that the Charity has need of at the relevant time. The Trustees are also Trustees of a number of other grant-making charities with similar associations with the Merchant Taylors’ Company.

~~Induction and training of Trustees~~

Trustees are inducted througha detailed briefing in the first board meeting of each reporting period. Trustees have access to the Merchant Taylors’ Charity Governance Handbook; governing document; previous minutes, policies, and other key documentation; and to Charity Commission guidance. They are also supported by a qualified and experienced staff based at Merchant Taylors’ Hall. Further counsel is offered to the Trustees through a system of committees within the Merchant Taylors’ Company, culminating with its Court. The Trustees have access to training opportunities through a sister charity’s membership of the National Council of Voluntary Organisations and the Association of Charitable Foundations.

~~Management Personnel~~

The Charity does not employ management personnel but receives the services of Bradestrete Services Limited, a subsidiary of the Merchant Taylors’ Company, to provide all administrative functions.

~~Decision-making and delegation~~

At the start of each Trustees meeting, the Chairman asks the Trustees to declare any personal interest which might directly or indirectly cause thema conflict. If a Trustee does declare an interest, they do not participate in any decision where that interest is relevant nor do they count towards the quorum at the time of taking such decision.

Related Parties

The Trustees are all members of the Merchant Taylors' Company, which administers this Charity.

Bradestrete Services Limited, a connected party, incurred and recharged administration, establishment and management expenses during the year on behalf of this Charity.

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Docusign Envelope ID: 5A0106D4 ~~-9~~ E36 ~~-4~~ 13A ~~-~~ A8C2 ~~-5~~ D51 139B191F

Henry Colborn (or Colbron)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2025

	REFERENCEANDADMINISTRATIVE	ADMINISTRATIVE DETAILS
CHARITYNAME:		HenryColborn (or Colbron)
OTHERNAMEUSEDBYTHECHARITY:		The Henry ColbronTrust
ADDRESS:		Merchant Taylors’ Hall
		30 Threadneedle Street
		London, EC2R 8JB
TRUSTEES:		Mr MartinRobb
		MrD Jackson (Chairman)
		Revd CanonR Godsall
CHIEFEXECUTIVEOFFICER:		BrigadierChristopher Coles CBE
BANKERS:		RoyalBankof Scotland
		62 Threadneedle Street
		London
INVESTMENTMANAGERS:		Rathbone InvestmentManagementLtd
		8 FinsburyCircus
		London, EC2M 7AZ
INDEPENDENTEXAMINER:		CaraTurtingtonFCA,DChA
		Saffery LLP
		71 Queen Victoria Street
		London, EC4V4BE
SOLICITORS:		Charles Russell Speechlys
		5 Fleet Place
		London,EC4M7RD

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Docusign Envelope ID: 5A0106D4 ~~-9~~ E36 ~~-4~~ 13A ~~-~~ A8C2 ~~-5~~ D51 139B191F

Henry Colborn (or Colbron)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 JULY 2025

STATEMENT OF THE TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to:

• e select suitable accounting policies and then apply them consistently;

• e observe the methods and principles in the Charities SORP;

• e make judgements and estimates that are reasonable and prudent;

• e state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

(If | type or otherwise electronically sign my name, | confirm that |intend to authenticate this document by so doing) Trustee: [DaviSigned270843714284481...by:Jatksov David Jackson

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Docusign Envelope ID: 5A0106D4 ~~-~~ 9E36 ~~-~~ 413A ~~-~~ A8C2 ~~-~~ 5D51139B191F

Henry Colborn (or Colbron)

INDEPENDENT EXAMINER’S REPORT

FOR THE YEAR ENDED 31 JULY 2025

I report to the Trustees on my examination of the accounts of Henry Colborn (or Colbron) (the Trust) for the year ended 31 July 2025.

Respective Responsibilities of Trustees and Examiner

As the Charity Trustees of the Trust 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 Trust’s accounts carried out under section 145 of the 2011 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.

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s 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 Trust 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.

Ihave 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.

----- Start of picture text -----
Signed:[ 3DD66D93F6034C6...DocuSignedStepsby:
Date:27 April 2026
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Cara Turtington FCA, DChA

Saffery LLP

71 Queen Victoria Street London EC4V 4BE

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Docusign Envelope ID: 5A0106D4 ~~-~~ 9E36 ~~-~~ 413A ~~-~~ A8C2 ~~-~~ 5D51139B191F

Henry Colborn (or Colbron)

BALANCE SHEET

AS AT 31 JULY 2025

	Note		31 July2025	31 July2025			31July2024
		£			£	£	£
Fixed assets
Freehold investmentproperty	5				265,000		65,000
Investments	6			2,817,171			2,721,660
				3,082,171			2,786,660
Current assets
Debtors	7		548				548
Cash atbank		16,423				44,858
		16,971				45,406
Creditors	8	25,304					6,384
Net current (liabilities)/assets					(8,333)		39,022
Total assets				3,073,838			2,825,682
Funds
PermanentEndowment	9			3,026,533			2,741,567
Unrestricted	10				47,305		84,115
	11			3,073,838			2,825,682

These financial statements were approved by the Trustees on 4 March 2026 and are signed on their behalf by: (If | type or otherwise electronically sign my name, | confirm that | intend to authenticate this document by so doing) [DaudSigned by:Natksov.

Date: 27 April 2026

The notes on pages 13 to 22 form part of these financial statements.

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Docusign Envelope ID: 5A0106D4 ~~-~~ 9E36 ~~-~~ 413A ~~-~~ A8C2 ~~-~~ 5D51139B191F

Henry Colborn (or Colbron)

ACCOUNTING POLICIES FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

These 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) (second edition) (Charities SORP (FRS 102)) and the Charities Act 2011.

1.1 Accounting convention

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on an accruals basis under the historic cost convention, with the exception of investments which are stated at market value.

The Charity constitutes a public benefit entity as defined by FRS102.

The financial statements have been prepared to give a true and fair view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the SORP rather than Accounting and Reporting by Charities: Statement of Recommended Practice (revised 2005) which has been withdrawn.

1.2. Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Income and endowments

Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. All incoming resources are included in the Statement of Financial Activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Income from investments is included when receivable.

• 1.4 Expenditure

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Docusign Envelope ID: 5A0106D4 ~~-~~ 9E36 ~~-~~ 413A ~~-~~ A8C2 ~~-~~ 5D51139B191F

Henry Colborn (or Colbron)

ACCOUNTING POLICIES FOR THE YEAR ENDED 31 JULY 2025

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Expenditure on raising funds comprises those costs directly attributable to managing the investment portfolio and raising investment income.

Expenditure on charitable activities includes those costs incurred by the Charity in the delivery of its objectives. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Grants are payments made to third parties in the furtherance of the charitable objects of the Charity. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive one-year of a possible multi year grant. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the Charity.

Allocation of support and governance costs

Support costs have been allocated between governance costs and other support costs.

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs related to independent examiner fees and legal fees together with an apportionment of overhead and support costs.

Governance costs and support costs relating to charitable activities have been apportioned based on the number of individual grant awards made in recognition that the administrative costs of awarding, monitoring and assessing all grants are broadly equivalent.

1.5 Freehold investment property

Freehold investment properties are not occupied by the charity. They are held for investment purposes and for this reason their value is reviewed annually. Where the valuation exceeds the carrying amount, the difference is credited to the Endowment Fund. Where the valuation is less than the carrying amount the diminution is recognised and debited to the Endowment Fund.

No depreciation is provided on freehold investment property.

• 1.6 Fixed asset investments

Investments are stated at market value at the balance sheet date. Net gains and losses arising on revaluation and disposals throughout the year are taken to the Statement of Financial Activities.

• 1.7. Cash and cash equivalents

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Docusign Envelope ID: 5A0106D4 ~~-~~ 9E36 ~~-~~ 413A ~~-~~ A8C2 ~~-~~ 5D51139B191F

Henry Colborn (or Colbron)

ACCOUNTING POLICIES FOR THE YEAR ENDED 31 JULY 2025

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

1.8 Funds

The unrestricted fund represents income available for expenditure, whilst the endowment fund has the principal purpose of generating that income. See notes 9 and 10 for further information.

1.9 Critical accounting judgements and estimates

The preparation of the Charity’s financial statements requires the use of certain judgements, estimates and assumptions that affect the reported amounts of assets, liabilities, income and expenses. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Changes in accounting estimates may be necessary if there are changes in the circumstances on which the estimate was based or as a result of new information or more experience. The key judgement employed in these accounts relates to the valuation of investment property.

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Docusign Envelope ID: 5A0106D4 ~~-~~ 9E36 ~~-~~ 413A ~~-~~ A8C2 ~~-~~ 5D51139B191F

Henry Colborn (or Colbron)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

5 Freehold investment property

Netball Court in Ashwell

----- Start of picture text -----
||||| |---|---|---|---| |31|July|31|July| |2025|2024| |£|£| |265,000|65,000|

----- End of picture text -----

Investment properties were valued as at 31 July 2023 by Knight Frank LLP. This valuation was updated as at 31 July 2025 by Nigel Gammon, a member of the Royal Institute of Chartered Surveyors employed by the Merchant Taylors’ group, in accordance with the Statements of Asset Valuation Practice and Guidance Notes published by the Royal Institution of Chartered Surveyors.

The Charity owns the freehold of the Rolly’s Lane Netball Courts. The Courts are held under a lease by Hertfordshire County Council, for use by Ashwell Primary School. The School no longer has a use for the Courts. As a result, the Charity has submitted a pre-application to the Local Planning Authority for permission to build two houses on the netball courts, which received a positive response. The Trustees’ vision is to obtain detailed planning permission to maximise the value of the site and sell the Courts. The valuation therefore includes an element of ‘hope value’, reflecting this potential, with the positive response to the pre application forming the basis of the increased valuation.

6 Other investments

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Listed|investments|31|July 2025|31|July 2024| |£|£| |Market|value|at|1|August|2024|2,721,660|2,583,373| |Add:| |Additions|171,060|582,477| |Disposals|(208,110)|(578,810)| |Movement|in|cash|37,340|(2,239)| |Net|realised/unrealised|gains/(losses)|95,456|137,208| |Foreign|exchange movement|(235)|(349)| |Market value|at 31|July 2025|2,817,171|2,721,660|

----- End of picture text -----

Investment by type:

----- Start of picture text -----
||||| |---|---|---|---| |31|July 2025|31|July 2024| |£|£| |Equities|2,138,214|2,176,439| |Bonds|546,227|449,596| |Cash|132,730|95,625| |2,817,171|2,721,660|

----- End of picture text -----

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Docusign Envelope ID: 5A0106D4 ~~-~~ 9E36 ~~-~~ 413A ~~-~~ A8C2 ~~-~~ 5D51139B191F

Henry Colborn (or Colbron)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

9	Endowment Fund
		£	£
	Balance at 1 August2024	2,741,567	2,615,722
	Expenditure	(10,255)	(11,014)
	Net gainsoninvestments	295,221	136,859
	Balanceat31July2025	3,026,533	2,741,567

Due to the age of the fund it is not possible to determine the exact amount of permanent capital element of the fund, although it is reasonable to assume that a permanent capital element be maintained given the nature of the fund and the way in which it has been treated historically.

All realised and unrealised movements in the value of investments have been added to or deducted from the capital value of the Charity.

10 Unrestricted Fund

				Movement	in fund	in fund
		Balance		Total		Total	Balance
		1August		Income	Expenditure		31 July2025
		2024
			£	£		£		£
Unrestricted	Fund	84,115		95,197		(132,007)	47,305

Details of the objects of this fund can be found in the Report of the Trustees on page 3.

11 Analysis of net assets between funds

	Unrestricted	Endowmentfund	Total
	fund
	£	£	£
Freehold investment property	-	265,000	265,000
Other investments	55,638	2,761,533	2,817,171
Net current (liabilities)	(8,333)	-	(8,333)
Balanceat31July2025	47,305	3,026,533	3,073,838

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