REGISTERED CHARrrY NUMBER: 511469 Report of Ibe Trustees Financial St4terneDts for the Yr Ended JI December 2025 for Warrillgtoll Cburch of EDg]and Educational Trnst
Warringtoll Cbureh of England Educatiortal Trust Contents of the Financial Ststements ror the Year Ended 31 Deeember 2025 Page Report of the Trnstees I to 4 Report of the IDdepeDdent Auditors 5 to 7 Statement ofFiDaDcial Activities Balance Shttt Notes lo ih¢ Financial Statements 10 to 18 Detsiled StsterneDt of Financial Artivities 19
WarringtoD Chureh of Engilld Educational Trust Report of the Trystees for the Year Ended 31 December 2025 The trustees present their report with the r]nancial Statements of tbe clwity (or the year ended 31 December 2025. The trustees have adopted the provisions of Accounting and Reporting by Clwities.. Statement of Recommended Practice applicabl¢ to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). 0E(TIvEs AND ACTIVITIES Objective5 and #ims The principal activities of the charity, as Sed by the objects in the constÉtution are as Tn¢¢ of Church of England School propenies located within the borough of Wwrrington aDd in this Tole it provides support to the schools by way of repair and capital grants. Publie benefit The trustees confirni thai they have referred io the guidance contsined in the Charity Commissions gener&1 guidance on Public Benefit when reviewing the chariry's aims and objectives and when deciding on ts. Grantmaking The ehariry has norn)ally provided grdnts up to 5¥ti of building pairS. improvements and capitsl projects required by the schiM)l of which the charity is a trustee. ACHIEVEMENTS AND PERFORMANCE Review of the Year ID the year there has been continuing demand on the Tn( lor grants to assist with th¢ gov¢rnoPs proportion for building improvement projects which are currently in progress at the Tr5 schools. In the year 3 (2024 15) building grants were settled alnounting to £8.980 {2024 £66.641}. at the year end d¢ the Trustees have received fijrther requests for building grants which are to be settled in yw ending 3 1st December 2026. In the year the tnjstees had further discussions with Liverpool Dioccse regarding the old infant school at St Margaret'5 Church and it was agreed to end the lease and trdnsfer the property back io St Margaret's CE Primary school. After the year end date ihe combined school properry * St Margaret'5 CE Prirnary ha5 academised inio the Emmanuel Diocese of Liverpool A¢ad¢mies Trust. Four schools have now converted to academies with two schools joining the LiverFwl Diocesan Schoo]s Trust (All Saints. Glazebury and St Helens, Hollinfare) and two sch(K)Is joining the Chester Diocesan Academies Trust {St Matthews, Stretton and Si Thomas. Stockton Heath). The accounts include a school property Wdluation impairn)ent to estimated reversionary inter¢st after the end of the granted 125 year leases of £8.094,398. The trustees anticipate that a fi]rther ten sch(M)Is will join academies in the year ending 3 1st Dwember 2026. In the year total income amounted to £31.770 and ioial expenditure amounted to £39,955 wthich resulted in a nei ouiflow of resources before other recognised gains ond105ses of £8.185. At the balanee shttt date the general reserve amowjted to £57,982,091. Investment Strntegy The Trustees have appointed investment broker5 and the broker5 have be£n istructed to adopt a prudent approach to th¢ management olthe Ènve5tment portfolio io attempi io maintain capital value whilst still generating an acceptable return. At the year end the investment wrtfolio arnounted to £1,539,1?7 and in the opinion ol the Tnjstees the uninvested surplus reserves are held a5 insurance given the current unpredictability of the current world economy in respect of the market values of the Charity's investments. FINANCIAL REVIEW Investment policy and objectives The Trustees after taking piofe5sional advice have invesied the Charitys free reserves in a mixture of unit tsNsts, listed invegunents and deposit funds. The market value of such investtnents amounied to £1.539.127 at the yeaT end. The investment advisers indicate a forecast annual yield on the portfolio of I./0. generating L?9,9(M per annum to ctsvei the ¢xpected expenditure of the Charity. Page I
Warringtoll Chureh ofE¥1d Educatiothal Trust Report ofthe Trn5t¢es foT tb¢ Year Ended 31 December 2025 FINANCIAL REVIEW Reserve5 policy The Trustees have established a policy whereby the ullrestricted fvDd5 not ¢ommitted or invested in tamgible fixed assets are to be invested. so that the renrn they genernte És guffici¢nt to meei the exFCted expenditure for the next 12 months. The Trnstees lleY 0150 ¢s¢abli5hes a provision for fijtsjre major capital projects 18 in order io d]harge the Trust's di5¢T¢tionary paJThents on capital projects it can make a commitment of 50/ti. At th¢ curr¢nt time it is anticipated that the requirement for building work gtants will not at such a high level following a nurnber of Tnjst's schools having already or are in the process of joining academie5. The TDJStees have approved ring fencing of £5,000 p¢r year to provide to trust 5¢hools in support of religious education activilies and any relltsig surplus is available to discharge the Tnt'S discretionary payments on capital projects. STRUCTURE, GOVERf4ANCE Af4D MANAGEMENT Management oftbecharity The Charity is governed by its constitution as approved by Her Majesty ID Counril on 23rd May 1952. The Charity is managed by its board of trStee5 of which a minimum of 8 must be present at any one me¢ting. All Tnatters are deierniined by a majority of the Votes of those tru5tecs pres¢nL The b(Kly of twst¢e5 of the charity should coLsist of a panel of twenty two per50ns comprising of.. - l. One ex-officio trustee, the Rector of W8TringtoD. 2. Eighteen noMitled tn]sttts. one of which to be appointed by the Liverpool Diocesan Board of Education and the further Seventeen to be apP)ind by each Parochial Church Councils. where there is a Ist school 3. One representative trustee, to be app)inted by Warrington Borough Council as tncal Education Authority, 4. Two cfroptative trustees, to be appointed by resolulion of the trust¢e5 Temis of appointment of tnLStee5'. l. The representative tntee shall be appointed for a terni of thre¢ years. 2. The nominated trustee to be appointed by the Liverpool DI£esan Board of Education shall be apwinted for a tern of three year5 3. The nominated tNstees to be appointed by the Parocbial cknuh Counci15 sball be app)inted each for the terni of one year. 4. The cfroptative trustees shall be apwjinted for a term of five years. A Standing Co]nmÈttee h&5 been appointed to take resporLsibility for the day day administration of th¢ Trust, subject to policies and guidelines laid down by the trLLttees. This comprises of. - Mr P S Speed MT R H Bingham Mr J D Bygat¢ Dr C Kressel Reverend S Cowan Mrs J K Hodgson Risk management The trnstees have a dury io identify and review the risks io which the charity is exposed and to ensure appropriate controls are in place to provide reasonabl¢ assurance against fraud and error. Page 2
Warrington Chureb of EDgEand Educational Trll5t Rew>rt ofthe Trustees for tbe Year Ended 31 DecembeT 2025 REFERENCE AF4D ADMIf4isTRATIVE DETAIiS The trustees who served during the year were as follows:_ . Chairperson Mr P S Speed - Vice Chairman Appointed by Parnebial Churcb Councils St Elphins, WaTrin8ton Christ Church. Padgate St Anthews. Orford St Ann'5, WaTrington Si Barnabas. WatTington St Jalnes Latchford C.E., Latchford St Morgar¢t'8 Orford St Matthews. Stretton St Philip's, Westbrook St Thornas.. Stockton Heath St Wilfn"d's. Grappenhall Woolston and B1hWOod Parish St Helens. Hollinfare All Saints, Glazebury St James. We51brook St Oswald's, Winwick Reverend S Cowan Dr C Kre55el Mrs F Ireland Mrs J K Hodgson Mr P S Speed Mr J D Bygate Diocesan Trustees Liverp1 Diocese LEA Representative Councillor S Parish Co-opted Trustee5 Mr R H Binghatn Mrs V Prowling Mr N Fairweather CHARITABLE STATUS Registered Address The Rectory. 129 Church StreeL WaTrington WAI 2TL Charity Number 511469 Auditors Voisey & Co LLP, 8 Winmarleigh Styeei. Warringwn WAI IJW Principal B3nker5 National Westminster Bank PLC. 23 Sankey Street WarringLon WAI IXH Solieitors Taylor Rose rrKW Limited, The While House, Wilderspool ParK Greenalls Avenue, WaTrington WA4 6HL Investment Manager EvelyTh Partners, Royal Liver Buildin& Pier Head. Live¥p(Kbl L3 INY
WarriDgton Church of England Educational Trust Report ol the Trn$tees for tbe Year Ellded 31 December 2025 STATEMENT OF TRUSTEES, REspof4siBILITIES The trustees are responsible for preparing the Rert of the TrSteeS and the financial statelnents in accordanc¢ with applicable law and United Kingdom Accounting Standards (United Kingdorn Generally Accepted Accounting Pra¢tice) Includll Fitmncial Reporting Standard 102 "The Finan¢ka] Reporting Standard applicable in the UK and Republic of treland". Charity law requires the tnteeS to prepare fmancial statrments for each finattcial year. Under that law, the tn]ste¢s hav¢ elected to prepare the fmancial statetnents in accordance with United Kingdom Generally Accepted Accounting Praciice (United Kingdom Accounttllg Stalldard5 and appIlble law). Under ¢hgrity law the tsustees must not approve the fmancial statements unless they are satisfied that they give a true and fair view of the state ot affairs of the charity and of the incoming resources and application of resources. including the income and expenditure, of th¢ charity for that peri(KL In preparing those fanCial ststements. the trustees are required to Select suitabl¢ ac¢ounting policies and then apply them consistently. observe the methods and principles in the Charities SORP" make judgements and estimates that are reasonable and prudent. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the clwity will coniinue in business. The ttee5 are responsible for keeping proper accounting records which dI10$e with reasonable acctjracy at any time the financial position of the charity and io enable thetn to ensure the financial stateTnents comply with the Charities Act 2011 and The Charity (Accounts and Reports) Regulations 2008. They are also reSnsIble for safeguarding the assets of the charÉty and hence for taking reasonable steps for the prevention and detection of fraud and other tegular1ties. Approved by order of the board of tNstees on............................................. and sÉgned on its behalf by= Mr P S Speed- TTU5te¢ Page 4
Report of the Independent Auditors to the Trnstets of WsrringtOD Church of England Educational Trnst Opinion We have audited the fancIal Statements of Warrington Church of England Educational Trnst (the charity) for the year ended 31 D¢¢ember 2025 which comprise the Statelnent of Financial Activities, the Balance Sheet and notes (o the fmancial statements. including a summary of significant accounting wlicies. The fmancial reporting frajnework that ha5 been applied in their preparation is applicable law and United Kingdom Accounting Stsndard% (Uniied Kingdom Generally Accepted Accowjting Practice). including FiDan¢ial Reporting Stondard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. In our opinion the financial stst¢ments: give a tsue and fair view of the statr of the charitys affairs as at 31 December 2025 and of its incoming re50urce5 and application of resources, for the year theu ended; have been properly prepared in accordance with United Ktngdom Generally Accepted Accounting Pra¢ti¢e, including Financial Reporting Standard 102 The Financial Reiy)rting Standard applicable in the UK and Republic of Ireland,. have been prepared in accordance with the requirements of th¢ Charsti¢s Act 2011. Basis for opinion We condueted our audit in accordance with International Sthndards on Audiiing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the AuditOTS' responsibilities for the audit of the fancial statements section of our rewrt. We are independent of the charity in a¢cordan¢e with the ethical r¢quireTnents that are relevant to our audit of the ffftancial statements in the UK. including the FRC'S Ethical standd. and we have fulfilled our other ethi¢al r¢sponsibiliti¢s in accordance with these requirements. We b¢liev¢ that th¢ audit evidenee we have obtallied is sU1C]ent and appropria to provide a basis for our opinion. Conclusions relating to going concern In auditing the fanCial statements, we have concluded that the trStee5, Use of the going concern basi5 of accounting in the preparation of the fll)ancial statements is appropriate. Based on the work we have perfornied we have noi identified any materia] uncertainties relating to events or conditions that, individually or eollectively. may cast Si1[1canI doubt on the cban"ty's ability to continue as a going concern for a period of at least twelve month5 from when the financial statements are authorised for i5SUe. Our responsibilities and the responsibilitie5 of the trustee5 with respect to going concern are described in the relevant sections of this report. Other information The trustees are responsible for the other infortnation. The other infortnatioll COmPri5es the infortnation included in the Annual Repojt other than ihe fmancial statements and our Report of the Independent Audilors thereon. Our opinion on the financial slatements does not cover the other infornation anii except to the ¢xt¢nt otherwise explicitly stated In our report, we do not express any fornj of &ssutance Concl810n thereon. In connection with our audit of the fmancial ststements. our responsibility is w read the other inforn)ation and. in doing 50, consider whether the other information is materially inconsistent with the firl¢la7 stateTnents or our knowledge obtained in the audii or othetivise appears io be maierially missthted. If we identify such material inconsistencies or apparent rnaterial mis5taternents, we are required to deterIne whether this gives rise to a material tnisstatement in the financial statements themselves. If. based on the work we have perfonned, we conclude that Ihere 15 a material mi5Statement of thi5 other information, we are required io report thai fact. We have nothing to report in this regard. Matters on which we are required to report by exceptioD We have nothing to report in respeci of the lollowing matters where the Charities (Accounts and Reports) Regulations 2008 requires to POrt to you if, in our opinion.. the infom)aiion given in the Report of the Trusltts is inconsisteni in any maTrrial respect with the financial statements., or sl¢lent accountino records have noi been kept. or the financial statements are not in agreement with the accounting records and retUrn5- or we have not received all the infomiation and explanations we require for our audi(. Page 5
Report ofthe Jnd¢pend¢nt Auditors to the Trnstees or Warrington Church ol England Edueatitinal Trust Re5ponsibilitie5 of trustees AS ¢xplained more fully in the Statement of Trustees. Responsibilities, the tnjstees are resw)n%ible for the preparation of the fmancial statements which give a trNe and fair view. and for such internal control as th¢ trustees detemiine 15 necessary to enable the prepaT*ion of financial statements are fr¢e from rnal¢rial misslat¢menL vthether due Éo fraud or error. In preparing the financial ststements, the tswstees are responsible for &tsessing the charitys ability to continue as a going concern. disclosing. as applicable, matters related to going concern and using the going concern basis of accounting untess the trustees either Inte[ to liquidat¢ the tharity or to ¢ea5e operations. or have no realistic alternative but to do so. Our respollsibilitie5 for the audit oftbe fingn¢i81 ststernents We have been appointed as auditors under Section 144 of tbe Clwities Act 2011 and report in ae¢ordanc¢ with the Act and relevant regulations made or having effect thereuDder. Our obje¢tive5 are to obtsin reasonable assurance al)oui whether the financial ststements as a whole are free from material misstaiemeni. whether due to fraud OT error, and io issue a Rew)rt of the Independent Auditors that includes our opinion. Reasonable assurance is a hwh level of assurdnce. but is noi a guardntee that an audit conducted in accordance with ISAS (UK) will always detect a material misststement when it exists. Misstatements w) arise from fraud or error and are considered material if, individually OT in the aggregate. they could reasonably be expected to influence the economi¢ dlS1onS of users taken on the b&sis of these fjnanciai statements. The extent to which our Predr¢S are capable of detecting irregularities. including fraud is detailed below: - enquiries are nmde of management and those charged with govemance as to whether there is any knowledge of actual. suspected, or alleged frau(L whether there is any known non-compliance with laws or regulations, and whether the harity has been subjeci to any liiigation or any legal claim. - minutes of meetings of those charged with governance are reviewed. audit work over the risk of management override of controls is undertaken including evaluating ihe charitable rationale of significant transa¢tions outside the norn]al course of artivity and reviewing accounting estirnate5 for bia5. - analytical reviews are performed on the financial Statements at all stsges of the audit by ¢omparison to prior years and expectations to ensure the re&50tthleness of the figures therein. - third party conf]rniation is obthined fmm the charitys bankers to confimi bank balances. - detailed audit iesiing is undertaken in specific arels to ensure that incorne and expe[lture is cotre¢tly recorded and is a genuine hncotne or expense of the charity. fuwicial statement disclosures are reviewed and iemed to SUprting d(Kurnentation to assess complianc¢ with applicable laws and regulatio. Despite appropriate plating and perfOrlg our work in aOrdance with International Auditing Standards, there are always inherent litnitation5 that non-compliance is not detected. Non-compliance with laws and regulations is often further removed from the events and transactions reflected in the financial ststeTnents and material misstatements due to fraud can be deliberelY coneealed from auditor& for exarnple through misrepresentation. forgery or collusion. A further description of our respollsibilities for the audit of the financial statements is lOCed on the Financial Reporting Council'5 w¢b5ite at www.frc.org.uklauditorsresp)nsibilities. This description fom part of our Report of the Independent Auditors. Page 6
Report oftbe Indepedent AdItorS to the Trustees of W*rrington Church of England EducatlODal Trnst Use of our report Thig report is made solely to the charilys tDJStees. as a body. in a¢cordaDce with Part 4 of the Charities {Accounts and Reports) Regulations 2008. Our audit work h&8 been undertaken so thai we might slate to the charitys trustees tho5¢ mallers we are required to stale to them in an auditors, report and for no other PurSe. To the fijllest extent pem)itted by law, we do not accept or assume responsibility to anyone other than the charity and the charitys Iwstees as a body, for our audit worK for this repor4 or for the opinions we have fornied. Vois¢y Co LLP 8 WinmaTleigh Str¢el Warringion Cheshire WAI IJW Dat¢.. Page 7
WarriDgtoll Cbureh of England Edueational Trust Statement of Financial Aelivities ror tbe Year Ellded 31 Deeember 2025 31.12.25 Unrestricted fithd 31.12.24 Total fi]nds INCOME AND ENDOWMENTS FROM DO[ln$ and l¢gaci¢5 22 22 Charitsble aetivities Property insurance premiums 5,317 Investment income 31,748 36.620 Total 31.770 41,959 EXPENDITURE ON Raising funds 11.199 10,937 Cbaritable activities Property in5urdnce premiunLS Building repair grdllt% Managernent and administration 15,588 8,980 4,188 5,317 66,641 3,623 Total 39,955 86,518 Net gains on investments 112.385 61.381 NET INCOME Other recognised gainsl(10gses) Gain(lo$s¢s) on revaluation of fixed assets 104,200 16,822 (8,094,398) Net movement in funds {7,990,198) 16,822 RECONCILIATION OF FUNDS Total fidS brought forward 65,972.289 65,955,467 TOTAL FUNDS CARRIED FORWARD 57.982.091 65,972.289 The nOS forn) w ofthese fmancial statements Page 8
Warrington Church of England Edu£3tion#l Trust Balance Sheet 31 December 2025 31.12.25 Unrestricted fund 31.12.24 Total funds Notes FIXED ASSETS Tangible assets Investrnents Investments Inve5ttnent property 55,874,017 63,718.415 1,539,127 5(H),000 1,478,991 750,000 10 57,913,144 65.947.406 CURREIYT ASSETS Debtors Cash at bank 10.114 16,929 71.107 71,107 27,043 CREDITORS Atnounts falling due within one year 12 (2.160) {2,160) NET CURRENT ASSETS 68,947 24,883 TOTAL ASSETS LESS CURRENT LIABILITIES 57,982,091 65.972,289 NET ASSETS 57,982,091 65,972,289 FUNDS Unrestricted ftmds 13 57,982,091 65.972.289 TOTAL FUNDS 57,982,091 65.972.289 The financial statements were approved by the Board of TnteeS and authorised for issue . and were SI)ed on its behalf by.. on Mr P S Speed- TNstee The noies fomi pan of these financial statements P8ge 9
Warrington Cbureb of England EducatlODal Trust Notes to the Financial Sthtements ror lh¢ Y¢aY Ended 31 Detember 2025 ACCOUNTING POLICIES Basis ofpreparing the fiD*Dcial statements Th¢ fmcial statejnents of the charity, which is a public benefit entity under FRS 102, have been prepared in ac¢ordan¢e with the Charities SORP (FRS 102) 'Accounttng and Reporting by Charities.. Stat¢m¢nt of Recommended Practice applicable to charities preE)aring their acciM]nts ill ac£ordance with the Fitvncial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 The Finallcial Rewrting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financia] ststements have been prepared under the historical cost Conventio with the exception of inveslments which are included at market value, as modified by the revaluation of cert2in &ss¢ts. The Charity is a Public Benefit Entity registered as a chariry in England and Wales. It was fonned by approved COt]stitution on 23 May 1952 and registered 18 a charity on 22 June 1982. At the time of approving the financial staMents, the trStee5 have a reasonable expeclation that the clwity has adequate re50ur¢es to continue in operational existence for the foreseeable fu(ure. Thus the trustee5 continuc to adopi the going concern basis of accow)ting in preparing the fitwicial State¢ts. The presentation currency is £ sterling. Monelary atnounts in these fitl¢la1 statements are rounded to the nearesi £. Financial reporting standard 102- reduced disclosure exempttons The ¢ty taken advantage of the following disclosure exetnptioll in pr¢paring these f]nancial statements, as rmitted by FRS 102 The Financial Rew)rting Standard applicable in the UK and Republic of Ireland,: the requirements of Section 7 Ststement of Cash Flows. Aceounting judgetllents and key SOUTces of utimatiots uneertainty In the application of the Charitys accounitng lIties, the Trust is r¢quired io make judgements. estimates and assumptions about the catryin8 aliiount of &ss¢ts and liabilities that are not readily apparent frorn other sour¢es. The esti8¢¢5 and asSociad asswnptions are blsed on historical experience and other factors considered of relevance. Actual results may differ from those estimates, aThd underlying assumMions are continually r¢vi¢w¢d. Revisions to estitnat¢s are recognised in the peri(kJ in which the estilnate is revised if the revision affects only that period or in the period of revision and rutt periods if th¢ revision affects both current and future periods. The following are th¢ areas of critical judgements that tnanag¢m¢nt hav¢ made in the pr(Kess of applying the entitys accounting policies. Going coneerll After making enquiries, the trustee5 hav¢ a reasonable expectation that the Charity h&8 adequate resources to conttnue in operational exi5tenc¢ for the foreseeable futu. For this reaso[4 it continues to adopt the going conc¢rn basis in preparing these fmancial ststements. There are currently no sources of esttmation or uncertainty that are judg¢d to cause a significant risk of material adjustm¢nt to the fllwAcial statements. Inc0e All income is recOliSed in the Statement of Financial Activities once the charity has entitlement to the fimd5, it is probable thai the incorne will be received and the amount can be sUred reliably. Interest on fimds held on deposit is included when receivable and the amount can be measured reliably by the charity- this is nortnally upon notificalion of the InreSI paid or payable by the bank. Dividends are recognised once the dividend has been declared and noiificaiion has been rec£ived of the dividend due. This is nomally upon notification by our invesbnent advisor of the dividend yield of the investment ponfolio. Page 10 continued...
Warrington Chr¢h of England EducatlODal Trust Notes to the Fillaneial Ststements- eontiDued for the Year Ended 31 Decetnber 2025 ACCOUIYTING POLICIES- continued Expenditure Liabilities are recogntsed &$ expendiwre as soon as there is a legal or constrnctive obligation cotnmitting the charity to that expenditure, it 15 probable that a trwhsfer of economic benefits will Ix required in settlement and the amount of the obligation can be meured reliably. Expenditure is accounted for on an accjuals basis and has been classified under headings thai awegaie all cost related to the category. Where costs cannot be directly attributed to particular h¢ading5 they have been all0ed io activities on a basis consistent with the use of resources. Grants offered subject to condition5 which have not been met at the year end date are noied as a COTnTnitment bui not accrued as expenditure. Grdnts offered subj1 to conditions which have noi been met at the year end date axe noted a5 a COTyunittnent but noi accrued expendiwre. Raising funds The costs of generating fimds consisi of investment managemenl w5ts and certain legal fees. Alloeatlon and apportionment of costs Overhead and 5UPPQrt costs have been allocated betwttn clMn"table activities and governance. Tangible fixed assets School Buildings and Other Buildings in Use: These are valued in accordance with the building sum insured valuation for in5ufdnce purposes carried out by the Ecclesiasiical Insurance Office in September 2021. Included in the valuations are provisions for the Cost of hire of buildings to provide temporary accommodation after damage to or destruction of schools. Surplusesldeficils arising on ihe revaluation ¢x¢rois¢, less any loss on disposals. are show) on the Statement of Financial Activities. Schools which have joined academies enter in a long lease with the trusi and the property valuaiion is adjusted to the estimated rever5iorw interest est]rnad by the tru51ees at the end of the long le&se. Depreciation-. In accordance with the ietms of tsSt on which they are held the school buildings and other buildings have io be maintsined in SO( WOTking order in peTpetuity and are therefore considered to have an indefinite use1 economic life. Investrnents Investmenis are a fonn of basic financial instrurnent and are initially Tecognised at their transaction Value and subsequently &ured at their fail value as ai the balance sheet date using the closing quoted market price. The statement of fmancial adiyities itjcludes the net gains and losses arising on reValu10n and disposals thrgughout the year. The Trust does noi acquire pui option& derivalives or other ¢omplex fitthncial instruments. The main forni of f]nancial risk faced by the charity is that of volaiility in equity markets and investment markets due to wider economic condilions. the attitude of investors to investment risK and changes in sentÉment concerning equities and within parti¢ular sectors or sub sectors. Realised gains and 1055es All gains and losses are iaken io the Statemenl of Financial Artivities as they arise. Realtsed gains and losses on investrnents are calculated as the difference benveen sales proceeds and their opening COY1ng value or their purchase value if acquired subsequeni to the fi1 day of the financial year. Uniealised gains and losses are calculated as the difference beN'een the fair value ai the year end and their carrying valu¢. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activitie%. Taxatio The charity is exempt from tsx on its charitable activities. Fund #eeounting Unrestricted funds can be used in accordance with the charitable objeciives ai the discretion of the trustees. Page 11 continued...
W4rrington Churcb ol EnEl8nd Educational Trnst Notes to the FiNanci31 Ststernents- continued for the Year Ended 31 December 2025 ACCOUNTING POLICIES- eontinued Fund aecollnting Restricted funds can only be used for particular restricted purpos¢5 within the objects of the charity. Restridions arise when specified by tbe donor OT when fiu are raised for paticular restricted Purposes. Further explanation of the nature and pu4x)se of each ffijnd 15 included in the noles to the financial statements. INVESTMENT INCOME 31.12.25 31.12.24 Rents received Dividend incolne Deposit accowjt interest CCLA deposit fid interest Stockbrok¢T5 account interest 500 28.713 119 2,151 265 1,750 31,865 397 2,396 212 31.748 36,620 RAISING FUNDS Investment management costs 31.12.25 31.12.24 Portfolio rnknagem¢nt 11.199 10,937 SUPPORT COSTS Governance costs Monagement and administratio 3,938 Supwjrt costs, included in the above, are as follows: 31.12.25 Managetnent 31.12.24 Toial activities administration Auditor5, remuneration Sundries Secretaries fees 2.160 13 1.765 2,160 13 .350 3,938 3.523 Page 12 continued...
Warrington Church of Englattd Educational Trust Notes to the Fin*nci41 Ststements- CODtiDued ror the Year EDded 31 Deeember 2025 TRUSTEES, REMUNERATION AND BENEFITS There were no tru5tees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024. Trustees. e%penses There were no trustees, expenses paid for the year ended 31 D¢cember 2025 nor for the year ended 31 December 2024. STAFF COSTS The charity does not employ any members of stsff, hen¢e, no rnernber of staff received a salary in ex¢¢s5 of £60.000. Th¢ Clerk to the Tru%iees perfonns all of the duties required io athnini5ter the charity. COMPARATIVES FOR THE STATEMENT OF Flf4ANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMETrtrs FROM Donations and lega¢i¢5 22 Charitable activities Property insurance premiums 5,317 Investment income 36,620 Total 41,959 EXPENDITURE ON Raising fvnds 10,937 Charitable activities Property insurdnce prelniums Building repair grants Management and administraiion 5,317 66,641 3.623 Total 86,518 Net gains on investments 61.381 NET INCOME 16,822 RECONCILIATION OF FUNDS Total fvnds brought forward 65.955,467 TOTAL FUNDS CARRIED FORWARD 65,972,289 Page 13 continued...
Warri£10 Churcb of EDgl&nd Educational Trust Notes to the Financial Statemellts- contlnued for the Year Ended 31 December 2025 TANGIBLE FIXED ASSETS Fre¢hold prottrty Ground rents Totals COST OR VALUATION At l Jalluary 2025 Impairments Reclassification 63,717,000 (8,094,398) 250.000 1.415 63,718,415 (8,094,398) 250,000 At 31 Dec¢mber 2025 55.872,602 1.415 55,874,017 r4ET BOOK VALUE Ai 31 December 2025 55,872,602 1,415 55,874,017 At 31 December 2024 63.717,000 1.415 63.718,415 Cost or valuation at 31 December 2tr25 is represen*d by: Fltehold prowty Ground rents Totsl% Valuation in 2021 Valuation in 2025 55,472,602 41K),000 1,415 55,474.017 400,000 55,872,602 1,415 55.874,017 The TIt'S school building5 are included at a valuation b&8ed a report from the Tt'S insurers dated Septeber 2021 with the exception of four of the Tntst'% %chiK)1s have converted io Academy sthtus. As part of th¢ aTrangements with the academie5 the Trust has entered into 125 year le$ in relation to th¢ properties. The trustees have reCOiSed in the accounts a valuation impairment adjusttnent in relation to these four schools to reflect the Trusvs estimated reversionary interem. The net book alnount * 3 1st December 2025 represents tallgible fixed assets used for the direct clwitable educational adivity. FIXED ASSET INVESTMENrs Fixed asset investsnents MARKET VALUE Ai l January 2025 Additions Disposals Revaluations 1.478,991 736.723 (764.888) 88,301 At 31 December 2025 1,539,127 NET BOOK VALUE At 31 Decernber 2025 1,539,127 At 31 December 2024 1,478.991 Page 14 continued...
Warrington Church of England Educational Trust Notes to the Fin4nci*l Ststements- continued for the Year Ended 31 Deeember 2025 FIXED ASSET INVESTMENTS- ¢ontinued Quoted investment analysis 31.12.25 Cost Market value 31.12.24 Market value Cost Equities- UK Overseas Stocks Other Fix¢d interest- UK CCLA Cash deposits 180.574 724.131 165,701 172.391 49,687 236,385 858,747 227,729 166,579 49.687 559,(HO 345,114 170.781 108,936 47,535 688,649 419,908 222,574 100,325 47,535 I.22.484 1,539.127 1213.406 1,478.991 At the year end date the Trust held the following investtnents representing greater than 50/D o(the respective fid investhlent wrtfolio. Market Valu¢ 79.994 Proportion of Fund S.2/0 Ishares Core FFSE 100 ETF GBP Incom¢ Cost or valuation at 31 December 2025 is represented by: Fixed asset investments Valuation in 2025 1,539.127 io. INVESTMENT PROPERTY FAIR VALUE At l January 2025 Reclassificaiion 750.000 {250,000) At 31 December 2025 500,000 NET BOOK VALUE At 31 Dec¢rDber 2025 500,000 At 31 DeceTnber 2024 750,000 The Trust has two invest¥neE]t properties both of which are fornier school buildings as follows: a) Fairfield and Howley Cotntnunity Centre. subject to a 21 year lease at a Dolninal tal to a local community group. The property is refleCd at the Trustees estimate of its rnarket value of £500.(K)O. b) St Margaret's fornier infant sch(N)I, in the year the trustees had further discussions with Liverpool Diocese regarding the old infant school at St Margaret's Church and it was agr¢ed to end the lease and transfer the propety back to St Margarei's CE Primary school_ After the year end dale the combined school property at St Margaret's CE PTimary has acadetnised into ihe Emmanuel Diocese of Liverpool Acadetnies Trn%t. Page 15 continued...
WrrÉngtoD Church of England Educational Trust Notes to the Financial Statements- eontinued for tbe Year Ended 31 December 2025 io. INVESTMENT PROPERTY- con¢inMed Fair valu¢ at 31 December 225 is represenied by." Valuation in 2025 500,000 ii. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.25 31.12.24 Other debtors 10,114 12. CREDITORS: AMOUNTS FALLING DUE WITHI1¥ ONE YEAR 31.12.25 31.12.24 Accnjed expenses 2,160 2,160 13. MOVEMENT IN FUNDS Net Tnovernent in fiu)ds At 31.12.25 At 1.125 Unrestricted funds l'n1 Fund 65.972,289 (7.990.198) 57,982,091 TOTAL FUNDS 65.972.289 (7.990.198) 57,982.091 Net movement in funds, included in the thv¢ are as follows: Incorning resour¢e5 Resources expended Gains and losses Movement in fi]nds Unrestricted fullds Trust Fund 31.770 (39,955) (7.982,013) (7.990,198) TOTAL FUF4DS 31,770 (39.955) {7.982.013} (7,990,198) Comparatives for movement in funds Net movement in funds At 31.12.24 At 1.1.24 Unrestrieted funds TNst Fund 65.955,467 16,822 65,972,289 TOTAL FUNDS 65.955,467 16,822 65,972,289 Page 16 continued...
WarriDgton Churcb of EDglaDd EdtAtIonal Trust Notes to the Financial StatemeDts- continued for th¢ Year Ended 31 December 2025 13. MOVEMENT IN FUNDS- CODtinued Comparntive n¢t movement in fimd4 included in the atK)ve are as follows.. Incoming Resources expended Gains and l()sses Movement in fLtnds Unrestricted funds Tnjst Fund 41,959 (86.518) 61,381 16,822 TOTAL FUNDS 41,959 (86,518) 61.381 16,822 A current year 12 months and prioryear 12 months o)mbined fM)Sition is as follows: N¢t movement in funds At 31.12.25 Al 1.1.24 Unrestricted funds Tnjst Fund 65.955.467 (7.973.376) 57,982,091 TOTAL FUNDS 65.955,467 (7,973,376) 57.982,091 A eu)Tent year 12 months and prior year 12 months combined net movement in fijnds, included in the above are as follow5= InComig resources Resources expended Gains and losses Movement in funds Unrestricted funds Trust Fund 73,729 (126.473) (7,920.632) (7,973,376} TOTAL FUNDS 73.729 (126,473) {7,9?0,632) (7,973.376) 14. OTHER FINANCIAL COMMITMENTS In the eveni that one of the school buildings which the TnLSi administers becomes sUlUS to requireTnents as a result of pupil demographic changes in the local area. In this ¢ircutnstance if the trustees then decide ro sell the land and buildings of ihe h[l to a third party and noi reinvesi ihe proceeds into a new school building. In this event the trustee5 may be liable io repay all made by government nding organisations in relation io the school building. As the trustee5 view the likeltho(hJ of these events as remote no assessTnent has been undertaken for each school of the amount of grants which would be repayable. Page 17 continued...
WarringtOD Church of EnglaTrd Educational Trust Notes to tbt FI¢17 Statements- tontinued for the Year Ended 31 Decemb¢T 2025 Is. RELATED PARTY DISCLOSURES There were no related paty transactioDs fr>r th¢ year ended 31 tkcember 2025. 16. FUNDS Unrestricted fijnds comprise those fimds whi¢h the In are free to use in accordaAce with the ¢lJaritsbl¢ objectives. Page 18
Warrington Cburcb of England Educational Trust Detsiled Statement of Fin8claI Aetivities for the Year Ended 31 December 2025 31.12.25 31.12.24 Ir4COME AND ENtKIWMENTS DoDatiOllS 8nd leg8cies Donations 22 22 Investment income Rents received Dividend income Deposit account interest CCLA deposit fund interest Stwkbrok¢rs account interest 500 28,713 1,750 31,865 397 2.396 212 2,151 265 31,748 36,620 Charitable activities Insurance recharge income 5,317 Total ineoming resourees 31,770 41,959 EXPENDITURE Inve5tEnent management costs Portfolio managemeni 11,199 10,937 Charitable aetivities Insurance Room Hire Provision non recoverable Ètismce recharges Grants for building repairs 5,474 250 10,114 8,980 5,317 100 66.641 24,818 72.058 Support Costs Governance costs Auditors. remuneiaiion Sundries Secreraries fees 2,160 13 1,765 2,160 13 1.350 3,938 3,523 Total resource5 expended 39.955 86.518 P4et expenditure before gains and losses (8.185) (44.559) Realised reeognised gains and losses Realised gains on fixed a55et investtnen 24,084 12,411 Net incornel{¢xpenditure) 15,899 (32,148) This page does not forrn part of the stathtory financial statements Page 19