THE WILLOUGHBY MEMORIAL TRUST TRUSTEES? REPORT aDd UIYT for the ellr ended St December 2 istered Charl No. 527647 Llbrary and Art Gallery Moreley'5 Lane Corby Glen GRAIYTHAM Llncolnshire NG33 4NL THE WILLOUGHBY MEMORIAL TRUST INDE Tn￿lees, Report Independent Examiner's Report Receipts and Payments Account for the Year Funds Movcmcnt Statement io Statement of Assets at 31 D￿ernber 2025 Noles to th¢ A¢counts ooooooooooooooooo AecouDlantllndependent ExamlDer: F.C. HatchmaD. CPFA Addltlons AceountYdDCy Grantham Ltd Barn End, SkilliDglon GIL4NTHAM LiDcoID$hire NG33 SEA Investment Advlsers: CCLA Investment MaDagement Ltd One Angel L4De LONDO EC4R 3AB Bankers: Lloyds BAnk plG 8 North Street BOURNE Llncolnshlre PEIO 9ED THE WILLOUGHBY MEMORIAL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 3J DECEMBER 202S The Willoughby Memorial Trust was founded in 1965 by the Earl of Ancaster as a memorial to his son Timothy Lord Willoughby de Eresby, with the objective of eslablishing and rnaintaining in perpetuity a Library and Art Gallery for promoting in the county of Lincolnshire. parts of Kesleven. and City and Borough of Lincoln, study and education and a knowledge of literature and the arts. The Trust is administered by the Trust¢es. Trustees The Trustees who served during the year w¢re: Lt Col S Miller Chairman - a co-opted truslee- represenling Èhe The Baroness Willoughby de Eresby Mr J A Kirkn]an Mrs Elaine Wilson rs S Woolley Rev. M Barton Mrs T Lamming Representing ihefamily {res£gned 9 April 2025) Represenling ike.family Represenling local arts Represenling County Council Educalion Servtces A co-opled truslee A co-opted tru51¢¢ Officers Mrs L Watson Mr G Underhill Treast4rer (nominaied 9 April 2025) Exhibition Secrelary AppolntmeDt of Trustees The nominated Trustees musl be appointed as follows: {a) Two by the holder for the time being of th¢ Barony of Willoughby de Eresby {b) Two by the Trustees appointed in sub-clause (a) from the nominees submitted by Lincolnshire Education Authority, and {¢) Two by the four Trustees appointed in sub-clauses (a) and (b) above. The Trustees appointed by clause (c) should have a knowledge of th¢ arts and education within the area of benefit. Co-opted Trustees - Two Co-opted at the Trustees. discretion. THE WILLOUGHBY MEMORIAL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (contlnued) The Trusl Prop¢rty is the former R¢ad's Grammar School together with the fonner garden, which has be¢n made into a bowling ￿een by the Countess of Ancasler as part of the memorial to Lord Willoughby and leased to the Corby Glen Bowling Club. The Read & Day Educational Foundation, which provided educational grants for indivtduals, was merged into the Willoughby Memorial Tn￿t on 20 November 1997. tn consultation with the Charity Commissioners the Trust Deed was revised and the new scheme governing the Trust became effective on 31 October 1999. Revised object for the chArlty The object of the charity is the establishrnent and maintenance of a library and art gallery for promoting ihe study, education and knowledge of literatur¢. art and music amongst the inhabilants of the area of benefit. If and in so far as the income or property of the charity cannot b¢ applied towards the object above it may be applied in promoting the sNdy, education and knowledge of the inhabitants of the area of benefit in such ways as the Trustees shall decide. The revised area of b¢nefit is the County of Lincolnshire and those parts of the neighbouring counlies within a 25 mile radius of Corby Gl¢n. In furtherance of its objectives the Trust initially: carried out, in association with the Countess of Ancaster, extensive resloralion of the Trust property, which is a historic Grade I listed building established within the building a reference library with particular emphasis on subjects relatin¥ to Lincolnshire and subsequently promoted art exhibitions, mainly by local artists established an annual art competition for Lincolnshire schools and local artists established an annual poetry competition for Lincolnshire schools supported by gyrants, scholarships and loans a variety of projects. by other organi5ations and individua15, that were in accordance with the aims of the Trust THE WILLOUGHBY MF.MORIAL TRUST TRUSTEES, REPOR.T FOR. THE YEAR ENDED 31 DECEMBER 2025 (eontlnued) During 2025 the Trust C¥drried out the folloiving aetlvities: Exhibitions Two exhibitions ran simultaneously for most of the season and this allowed for 12 shows during the year. 14 shows in 2023. Visitor numb¢rs increased again this year. 2024 2025 3,068 2,610 £5,070.50 £8,180.00 Visitors Sales Date 26103 - 16104 Exhibltio Mad Spring Fling - Maxey and Deepings Art Grou A Landsca c in Scul ture - Chris Groombrid Met&rnOTphosis of Lighi in Landscape - Joan Kirb Eve Eve FriTn Folk Cornuco ia- Sharon S camore c.la Bodies - Joanna Howard Brin in Metal to Lite- Mark Hodson Lincolnshire Churches - Jo Fer son Collective Memori¢s & Curious Dreams- hie Purvis, Carol Killett, Annc Marie Lill The Momenl it Cliks - PK & NV Photography and Damian Bol er Five Wa s - Rutland Contem Ancicnt Stories - S7.ilvia Pon en Art Com etition Visltors Sydles 337 £1,120.00 23104- 14105 £255.00 178 £0 21105- 11106 18106 - 09107 196 £542.50 £115.(K) £165.IX> £1,135.IK> £1,610.50 175 16107 - 06108 266 13108 - 03109 £220.00 294 £230.00 10109-01110 08110- 29110 051ll 28111 ora Artists 404 307 453 £2,610 £1.640.00 £797.00 £350.00 £8 180.00 iczki Total Events 5 November - 28 November the Open Art Competltlon was judged on 28 November 2025 by Soraya Smithson (artist and curator) and Beverley Wrigley-Pheasant (gallery owner). Four Primary (six in 2024) and four Secondary Schools (five in 2024) entered plus seven independent entries in Clas5¢5 1 and 2 (Primary) and eight independent entries in Classes 3 10 5 (Secondary). in total 299 entries. In Class 6 {over 18 years) there were 73 eThtries (77 in 2024). There were 90 entries (147 in 2024) from eight schools in the Poetry Competltlon. Prizes were awarded in all two of the four Key Stage classes. The Competition was Judged by Ross Ayres, the Siamford Poet Laureate. THE WILLOUGHBY MEMOIUAL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (continued) Grants The Trust received two requests during the year which were not granted. The Llbrary Access lo the library is available by appointment with the Caretakets. The space is now used as occasional exhibition space and is available for meetings by local organisations. Staff Mr and Mrs Bryan Lynch retired as resident caretakers and Ms Michelle Cooper was appointed the new caretaker. Mr Graham stood down as Exhibition Secretary and Mrs Szilvia Ponyiczki was appointed Exhibilion Manager. The Property Some Collyweston roof repairs were carried out during the year. Garden and hedg¢ rnaintenance continued, and small scale routine repairs were carried out to the building, Reserves Policy The TnL8tees aim to maintain sufficient reserves in an accessible forni to be equivalent to two years operating expenditure. Revlew of Major Risks The Tntstees continue to review the major risks faced by the Charity. Maximising investment returns continues to be an aim of the Trustee5, although investment risk is tak¢n into account in reaching investment decisions. The objective is to produce a sutricienl income to meet nornial running costs whilst at the same lime prcserving the real value of th¢ Trust's capital assets. The investment in the CCLA fund continu¢s lo produce adequate income for cU￿ent needs. Statement of Trustees, Respon$ibllities Charity law requires the Trustees to prepare financial staternents that give a true and fair view of the state of affairs of the Charity at the end of the financial year and of its surplus OT deficit for the financial year. In doing so the Trustees are required to.. Select suitable accounting poSicies and then apply them consistently; Make sound judgements and estimates that are reasonable and prudent. and THE WILLOUGHBY MEMORIAL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (continued) Prepare the financial statements on the going concern basis unle55 It is appropriate to presume that the Charity will not continue in business. The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enables them to ensure that the financial statements comply with the requirements of the Charities Act 2011. The T￿SteeS are also responsible for saf¢guarding the assets of the Charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities. Independent Examiner Ms Fiona Hatchman B.A. (Hons), CPFA of Additions Accountancy Grantham Ltd was appointed accountant and independent examiner to the Tru51. Mr Sebastian Mlller - Chairman Date THE WILLOUGHBY MEMORIAL TRUST INDEPENDENT EXAMINER'S REPORT TO THE USTEES OF HE WILLOUGHBY MEMORIAL TRUST I report on the Accounts of the Trust for the year ended 31" D￿¢t￿ber 2025, which are s¢1 out on pages 7 to 13. Res ective Res onsibilitles of Trustees fdnd Examiner The Charity's Trustee5 are respotisible for the preparation of the accounts. The Charity's Ttrustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 and thal an independent examination is needed. It is my responsibility to.. examine the accounts under section 145 olthe 201 l Act,. to follow th¢ procedures laid down in the Gcner81 Directions given by the Charity Commissioners under se¢¢ion 145(5)(bl of the 201 l Act,. and to slat¢ whether particular matt¢rs have come to my attention. B8sls of Inde endent Examiners, Re or My examination was catTied out in accordanc¢ with the Generdl Di￿tionS given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and & comparison of lh¢ Accounts presented with those records. It also mcludes consideration of any unusual items or disclosures in the Accounts, and the seeking of explanations from you as Trnslees concerning any such matters. The procedures undertaken do not provide all the evidence Ihal would be required in an audit and, ¢ons¢quently, no opinion 15 given a5 to whether the Accounts present a '*rne and fair view" and the report is limited lo those matters set out in the statemctit below. Inde endent Examiners, Statement In connection with my examination, no matter ha5 come to my attention.. l) which gives me reasonable cause to believe that, in any material respecL the requirements.. to keep accounting records in accordance with Section 130 of tELe Charities Act 201 I; and - to prepare Accounts which accord with the accounling records and to comply with the accounting requirements ofthe Charities Act have not been mel; or 2) to which, in my opinion, attention should be drawn in order lo enable a proper understandin8 of the Accounts to b¢ reaclled. F.C. Hatchman B.A. Hons CPFA Additions AccountanLy {Gran(ham} Lid. Barn End. Skillington, Grantham, Lincs. NG33 SEA Dale.. fc ILLOUGH ORIAL TRUST EIPTS AND PA NTS ACCOU FOR THE YEAR TO 31 DE EMBER 2025 025 ENERAL FUND co ERE Tradln Incom• Sales of Books and Cards Rent of FacllW8S 523 348 118 523 s and Dona Donations lo 100 nvèstment Investment Fund Bank Inlerèsl 40.590 1,527 39.550 1,010 42,117 40,580 OTAL RECEIPTS £42,740 £41,078 ARIT NDITU R8palrs and Malnlenance Socurity Grounds Malntenance Llght and Heal C8r8taking Costs Rale$ and Water Insurance Cleaning and Sundrfo$ 28,209 1,367 1,540 403 20,138 474 ?.074 2,379 26S 2,303 21,930 427 100 100 152,229) 131,2421 Libr Books. mag8￿ne$ and Subscriptlon8 Galle Exhibition Exp8nses and Adverbsing Exhibition Secrètary and Expenses Paintings Sale Procé8eds Art Competiti 540 8,736 6,892 1.s76 8.468 11.033 carrled forward {60.8971 142.275) HE WILLOUGHBY MEMORIAL TRUST ECEIPTS AND AYMENTS ACCOUNT R THE YEAR TO 31 DECEMBER 2025 co 025 IRECT CHARITA8LE EXPENDITU Iconllnu•dl brought forward 100.6971 142,2751 Gran Othor Ex ondltur Sch