THE BLANDFORD TRUST
ANNUAL REPORT
Year to 31[st] December 2025
SUMMARY
In overall terms, the year has been a further year of consolidation .
In the light of the improvement in the Market the Trustees decided to recommence Grant Giving and made donations during the year of £15,000
This sum representing just over half of our investment income for the year..
Our portfolio is constantly monitored , the Brokers have clear instructions as to the Trustee’s attitude to risk and as such.
INVESTMENTS
Realised and unrealised gains in our portfolio……..together with our surplus resulted in a net gain in funds for the year of £56,579.
INCOME
Investment income fell marginally during the year in line with expectations.
DONATIONS
As stated above donations were made of £15,000
Michael Willis
Treasurer
31[st] January 2026
BLANDFORD TRUST ACCOUNTS FOR THE Y R ENDED I DECEMBER 2
BLANDFORD TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOU) FOR THE YEAR ENDED 31 DECEMBER 2025 Unrestricted Funds 2025 2024 Income Irom: Investments Interest recelved Total Income 26,633 505 27,138 29,259 605 Expendlture on., Trust expenses Investment Management Fees Grants payable Tolal Expendlture 2,030 5,475 15,000 22,505 1.950 1.950 Nel surplus belore galnsl(losses) on Inveslment5 4,633 27,914 Net gainslllosses) on Investments Reallsed galnslllossesl on Investments Unreallsed galns on revaluatlon of Investments 20,689 31,257 51,946 -74,938 15,213 -59,725 Net Movement In Funds for the year 56,579 -31,811 Movements In year Fundlng Movement Income and Expendlture 51,946 4.633 56,579 -59,725 27,914 -31.811 Reconcluatlon of Funds Funds brought forward at l January2025 Funding Income and Expendlture 473,957 205.507 679.464 533,682 177.593 711,275 Balance al 31 December 2025 Fundlng Income and Expenditure 525,903 210,140 736,043 473,957 205,507 679,464
8LANDFORD TRUST BALANCE SHEET FOR THE YEAR ENDED 310ECEMBER 2025 Unrestricted Funds 2025 2024 Fixed Assets Investments Note2 712,407 625.622 Current Assets Debtors Cash at bank 877 2,040 53,752 55,792 24,759 25,636 Current Llabllttles Credltors Amounts talllng due wlthln l year 2,OiXI 1.950 Net CurrentAssets 23.636 53,842 Total NetAssots 736,043 679,484 Funds Fundlng at Cost RevLauation Reserve Note 3 461,756 64,147 525,903 473,957 473,957 Income and Expendlture 210,140 736,043 205.507 679.464 Total Funds 44 }01 z¢26
BLANDFORD TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 l. Prlnclpal Accountlng Pollcles la) Basis of Preparatlon Blandford Trust is a charitable Trust. The address of the Trust is 30 Cyprus Gardens. Exmouth EX8 2DP. The charlty constltutes at public beneflt entity as defined by FRS102. The flnanclal statement5 have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparlng their accounts in accordance with the Financlal Reporting standards appllcable in the UK and Republlc of Ireland IFRS1021. The financial statements are prepared on a golng concern basls under the hlstorlcal cost convention as modified for the revaluation of investments. The financial statements are presented In pounds 5terllngwhlch Is the functional currency ot the charlty and rounded tothe nearest pound. {bl Income All Incoming resources are Included In the Statement of Flnanclal Activlties when the charlty Is entltled to the income and the amount can be quantlfled wlth reasonable accuracy. All income is included in these accounts when it is receivable. Ic) Expendlture Expenditure, Includlng attrlbutable VAT which cannot be recovered, Is recognlsed on an accruals basls as a Ilabllity when a legal or constructlve obiigatlon Is Incurred. Grants payable are charged In the year when the grant payable has been approved by the Trustees and the offer Is conveyed to the recipient. Idl Fund accountlng The charity has unrestrlcted funds. The unrestrlcted Revaluation ReseNe Fund Is the reserve representing the amount by whlch the Investments exceed thelr hlstorlcal cost. le) Investments Investments are recognlsed Inltlally at falr value whlch Is normally the transactlon prlce. Subsequently they are measured at fair value wlth changes recognlsed In net galns and losse5 on investments In the Statement of Financial Activitles. {f) Debtors and credllors recelvablelpayable wtthln lyear Debtors and creditors with no staled Interest rate and recelvable and payable withln one year are recorded at transaction price. Ig) Flnanclal Instruments The Trust has financial assets and liabilities of the kind that qualify as basic financial Instruments. Baslc Flnancial Instruments are initially recognlsed at transaction value and subsequently recognlsed at their settlement value. Other Financial Instruments, including investments in equity Instruments, are Initially measuied at fair value whlch Is normally transaction price. Such instruments are subsequently carrled at fair value and the changes in falr value are recognised in the Statement of Financial Activities.
BLANDFORD TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 IhlTax The Trust Is exempt from tax (l) Reserves TheTrust dlstlngulshes between Funding Reserves and Income and Expendltuie ReseNes. Fundlng ReseNes are thosefunds owned bytheTrustwhlch are invested to produce an income In the form of dlvldend and Interest foi the current and future years that are used to finance the Trust's charitable actlvltles. Fundlng Is compr15ed of monles donated the the Trust for that purpose together with all investment gains and losses whether realised or not. Income and expendlture represents the dlfference between the Income and expendlture on actlvltles. Ul Judgements and key sources ol estlmatlon un¢ertalnty Preparatlon of the flnanclal statements requlres the Trustees to rnake signlflcant ludgemenls in applying the accountlng pollcie5 of the Charity and estlmates and assumptlons that have a slgnlflcant effect on the recognltlon and measurements of assets, Ilabilities, Income and expenses. Actual results may be dlfferent to these estlmates. {kl Golng Concern The flnanclal statements have been prepared on the golng concern basls as the Trustees belleve that no material uncertaSntles exlst. The Trustees have considered the level of funds held and the expected level of expenditure for the 12 months from the date authorlslng these flnanclal statements. The budgeted Income and expendlture Is sufflclent whlth the level of reserves for the charlty to be able to contlnue as a golng concern. 2. Investments Unrestrlcted Funds Total At l December2024 Management Fees Net Funds movement Reallsed Galn on Investments Unrealised Galns on revaluatlon of investments 625,622 -5475 40314 20689 31257 712.407 The historical cost of charity investment5 at 31 December 2025 was £648,26012024 £625,622)
BLANDFORD TRUST NOTES FORMING PART OF ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Market Value UK Listed equlty Investments UK Fixed Interest Government stocks UK Property& Infustructurefunds Overseas Equlty Investlments 179,430 69.978 134,617 328,382 712,407 3. Funds Unrestrlcted Funds Fund Balances at l January 2025 Fundlng wlth Investmenls at cost Income and Expendlture 473,957 205,507 679,464 Movements In year Reallsed Investment galns Unreallsed galn on Revaluatlon of Investments Total Funding Revaluatlon reserve 20,689 31,257 51,946 Income & Expendlture 4,633 Total Funds Movement In year 56.579 Funds balances at31 December2025 Funding wilh investments at cost Income and Expenditure 525,903 210,140 736,043
INDEPE%4DE)T EXAMINERS, REPORT TO THE TRLSTEES OF THE BLAt+iDFORD TRUST I have examined the FLnancial statements ofthe Blandford Tnjst For the year ended 31 December ?0?5 which comprise statement of income and expenditure account and balance.8heet. iiie Res on%ibilitits of Trustees and Examiner The chariiy's Ini8t¢es are responsible for the preparation of the accounts. The charity's trustees consider that an audii is noi required for this year under section 144 of the Charities Aci 2011 (the Charitie% Act) and Ihat an independeni cxaminaiion is needed. It is my responsibility to.. a) examine the accounts under $eciion 145 of the Charities Act, bl to follow the procedures laid down in the General DirectjOD.% given by the Charity Commi8sion lunder section 145(5}Ib) of the Charities Aci. and cl io ytaie whether particular matters have Come 10 my aiienlion. f Inde endenl Exan)inern' Re My exainination wa8 carried oui In accordance with General Directions given by ihe Charity Commission. An examination include% a review of Ihe accounting records kept by the charity and a comparison of (he accounts presented wilh ihose r¢¢ords. It al.%0 includes consideration of any unu¥ual items or disclosures in the oLcounis. and seeking explanations from the Iru%tees conceming any such m&tiers. The procedures undertaken do noi provide all the evidence Ihar would be required in an audit, and consequenily, llo opinion is given as to whether the accounL% present a 'itue and fair view. and the report is limited io iho.%e mailers Sel out in the statement below. nde enden Si temen In ¥onneLtton with my examinaiii)n, no matrer h49 come to Tny aiteniion. 11 which give8 me reason&ble caLLse to beli¢ve that in. any material respeci, the iN5tees have not rntt the requirements io ensure ¢hai'. a) proper accouniing records are kept in uc¢ordance with section 130 of the Chariiie5 Acl,. and bl accounts are prepared which agree with the accuuntKng records and comply with the RccountIn requirements of Ihe Charities Act: or 21 to which, in my opinion. allention should bc drawn in order io enable a proper undeThlandinup of the account% io be reached. Rriili J Nl'illiums I,'C.A KWELL BAILLY & CO L'T[) hArtered AccountAnis THWAITES BLA Lynch Fann The Lynch Kenswonh LU6 3QZ
BLANDFORD TRUST ACCOUNTS FOR THE Y R ENDED I DECEMBER 2
BLANDFORD TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOU) FOR THE YEAR ENDED 31 DECEMBER 2025 Unrestricted Funds 2025 2024 Income Irom: Investments Interest recelved Total Income 26,633 505 27,138 29,259 605 Expendlture on., Trust expenses Investment Management Fees Grants payable Tolal Expendlture 2,030 5,475 15,000 22,505 1.950 1.950 Nel surplus belore galnsl(losses) on Inveslment5 4,633 27,914 Net gainslllosses) on Investments Reallsed galnslllossesl on Investments Unreallsed galns on revaluatlon of Investments 20,689 31,257 51,946 -74,938 15,213 -59,725 Net Movement In Funds for the year 56,579 -31,811 Movements In year Fundlng Movement Income and Expendlture 51,946 4.633 56,579 -59,725 27,914 -31.811 Reconcluatlon of Funds Funds brought forward at l January2025 Funding Income and Expendlture 473,957 205.507 679.464 533,682 177.593 711,275 Balance al 31 December 2025 Fundlng Income and Expenditure 525,903 210,140 736,043 473,957 205,507 679,464
8LANDFORD TRUST BALANCE SHEET FOR THE YEAR ENDED 310ECEMBER 2025 Unrestricted Funds 2025 2024 Fixed Assets Investments Note2 712,407 625.622 Current Assets Debtors Cash at bank 877 2,040 53,752 55,792 24,759 25,636 Current Llabllttles Credltors Amounts talllng due wlthln l year 2,OiXI 1.950 Net CurrentAssets 23.636 53,842 Total NetAssots 736,043 679,484 Funds Fundlng at Cost RevLauation Reserve Note 3 461,756 64,147 525,903 473,957 473,957 Income and Expendlture 210,140 736,043 205.507 679.464 Total Funds 44 }01 z¢26
BLANDFORD TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 l. Prlnclpal Accountlng Pollcles la) Basis of Preparatlon Blandford Trust is a charitable Trust. The address of the Trust is 30 Cyprus Gardens. Exmouth EX8 2DP. The charlty constltutes at public beneflt entity as defined by FRS102. The flnanclal statement5 have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparlng their accounts in accordance with the Financlal Reporting standards appllcable in the UK and Republlc of Ireland IFRS1021. The financial statements are prepared on a golng concern basls under the hlstorlcal cost convention as modified for the revaluation of investments. The financial statements are presented In pounds 5terllngwhlch Is the functional currency ot the charlty and rounded tothe nearest pound. {bl Income All Incoming resources are Included In the Statement of Flnanclal Activlties when the charlty Is entltled to the income and the amount can be quantlfled wlth reasonable accuracy. All income is included in these accounts when it is receivable. Ic) Expendlture Expenditure, Includlng attrlbutable VAT which cannot be recovered, Is recognlsed on an accruals basls as a Ilabllity when a legal or constructlve obiigatlon Is Incurred. Grants payable are charged In the year when the grant payable has been approved by the Trustees and the offer Is conveyed to the recipient. Idl Fund accountlng The charity has unrestrlcted funds. The unrestrlcted Revaluation ReseNe Fund Is the reserve representing the amount by whlch the Investments exceed thelr hlstorlcal cost. le) Investments Investments are recognlsed Inltlally at falr value whlch Is normally the transactlon prlce. Subsequently they are measured at fair value wlth changes recognlsed In net galns and losse5 on investments In the Statement of Financial Activitles. {f) Debtors and credllors recelvablelpayable wtthln lyear Debtors and creditors with no staled Interest rate and recelvable and payable withln one year are recorded at transaction price. Ig) Flnanclal Instruments The Trust has financial assets and liabilities of the kind that qualify as basic financial Instruments. Baslc Flnancial Instruments are initially recognlsed at transaction value and subsequently recognlsed at their settlement value. Other Financial Instruments, including investments in equity Instruments, are Initially measuied at fair value whlch Is normally transaction price. Such instruments are subsequently carrled at fair value and the changes in falr value are recognised in the Statement of Financial Activities.
BLANDFORD TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 IhlTax The Trust Is exempt from tax (l) Reserves TheTrust dlstlngulshes between Funding Reserves and Income and Expendltuie ReseNes. Fundlng ReseNes are thosefunds owned bytheTrustwhlch are invested to produce an income In the form of dlvldend and Interest foi the current and future years that are used to finance the Trust's charitable actlvltles. Fundlng Is compr15ed of monles donated the the Trust for that purpose together with all investment gains and losses whether realised or not. Income and expendlture represents the dlfference between the Income and expendlture on actlvltles. Ul Judgements and key sources ol estlmatlon un¢ertalnty Preparatlon of the flnanclal statements requlres the Trustees to rnake signlflcant ludgemenls in applying the accountlng pollcie5 of the Charity and estlmates and assumptlons that have a slgnlflcant effect on the recognltlon and measurements of assets, Ilabilities, Income and expenses. Actual results may be dlfferent to these estlmates. {kl Golng Concern The flnanclal statements have been prepared on the golng concern basls as the Trustees belleve that no material uncertaSntles exlst. The Trustees have considered the level of funds held and the expected level of expenditure for the 12 months from the date authorlslng these flnanclal statements. The budgeted Income and expendlture Is sufflclent whlth the level of reserves for the charlty to be able to contlnue as a golng concern. 2. Investments Unrestrlcted Funds Total At l December2024 Management Fees Net Funds movement Reallsed Galn on Investments Unrealised Galns on revaluatlon of investments 625,622 -5475 40314 20689 31257 712.407 The historical cost of charity investment5 at 31 December 2025 was £648,26012024 £625,622)
BLANDFORD TRUST NOTES FORMING PART OF ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Market Value UK Listed equlty Investments UK Fixed Interest Government stocks UK Property& Infustructurefunds Overseas Equlty Investlments 179,430 69.978 134,617 328,382 712,407 3. Funds Unrestrlcted Funds Fund Balances at l January 2025 Fundlng wlth Investmenls at cost Income and Expendlture 473,957 205,507 679,464 Movements In year Reallsed Investment galns Unreallsed galn on Revaluatlon of Investments Total Funding Revaluatlon reserve 20,689 31,257 51,946 Income & Expendlture 4,633 Total Funds Movement In year 56.579 Funds balances at31 December2025 Funding wilh investments at cost Income and Expenditure 525,903 210,140 736,043
INDEPE%4DE)T EXAMINERS, REPORT TO THE TRLSTEES OF THE BLAt+iDFORD TRUST I have examined the FLnancial statements ofthe Blandford Tnjst For the year ended 31 December ?0?5 which comprise statement of income and expenditure account and balance.8heet. iiie Res on%ibilitits of Trustees and Examiner The chariiy's Ini8t¢es are responsible for the preparation of the accounts. The charity's trustees consider that an audii is noi required for this year under section 144 of the Charities Aci 2011 (the Charitie% Act) and Ihat an independeni cxaminaiion is needed. It is my responsibility to.. a) examine the accounts under $eciion 145 of the Charities Act, bl to follow the procedures laid down in the General DirectjOD.% given by the Charity Commi8sion lunder section 145(5}Ib) of the Charities Aci. and cl io ytaie whether particular matters have Come 10 my aiienlion. f Inde endenl Exan)inern' Re My exainination wa8 carried oui In accordance with General Directions given by ihe Charity Commission. An examination include% a review of Ihe accounting records kept by the charity and a comparison of (he accounts presented wilh ihose r¢¢ords. It al.%0 includes consideration of any unu¥ual items or disclosures in the oLcounis. and seeking explanations from the Iru%tees conceming any such m&tiers. The procedures undertaken do noi provide all the evidence Ihar would be required in an audit, and consequenily, llo opinion is given as to whether the accounL% present a 'itue and fair view. and the report is limited io iho.%e mailers Sel out in the statement below. nde enden Si temen In ¥onneLtton with my examinaiii)n, no matrer h49 come to Tny aiteniion. 11 which give8 me reason&ble caLLse to beli¢ve that in. any material respeci, the iN5tees have not rntt the requirements io ensure ¢hai'. a) proper accouniing records are kept in uc¢ordance with section 130 of the Chariiie5 Acl,. and bl accounts are prepared which agree with the accuuntKng records and comply with the RccountIn requirements of Ihe Charities Act: or 21 to which, in my opinion. allention should bc drawn in order io enable a proper undeThlandinup of the account% io be reached. Rriili J Nl'illiums I,'C.A KWELL BAILLY & CO L'T[) hArtered AccountAnis THWAITES BLA Lynch Fann The Lynch Kenswonh LU6 3QZ