THE BLAIR FOUNDATION
Unaudited
Annual report and accounts
For the year ended 5 April 2024
Reglstered Charlty No 801755

Page I
The Blair Foundation
Contents
Page
Legal and administrative information
Report of the Trustees,
Report of the Independent Examiner
Receipts and payments account
statement of assets and liabilities
Notes,.
Accounting policies
Taxation
Investment income
Grants paid
other expenditure
Administrative expenses
Employee information
Transactions with Trustees
Tangible Fixed Assets
10. Fixed Asset Investments
10-11
li
11
11
11
12
12-13

Page 2
The Blair Foundation
LegaL and administrative information
Name and Reglstered The charity is registered as The Blair Foundation. and its registered number
Number of Charlty
is 801755.
Admlnistratlon and The Trust Deed states that there must be at least thr￿ Tiustees. The power
Managemant of
to appoint Trust￿5 vested in the Settlor (Robert CampbelL Thornton) during
Charlty
his lifetime. Following the death of the settlor, the power to appoint new
trustees vests in the current trUst￿S.
Governlng Document The Trust was created by Deed on 29 March 1989. It is an unincorporated
association. registered as a UK charity.
Names of Trustees
Jennifer Mary Thomton
Alan Thomas TIK)rnton
Fiona Peta Thornton ￿ppoInted 25 JULY 20181
Prlnclpal Address
The Barn
Quarrs Farm
DudweLL Lane
Chewton Mendip
Somerset BA3 4ND
Sollcltors
Chubb BuLLeid
7 Market Place
Wells
Somerset BA5 2RJ
Accountants
EveLyn Partners LLP
Onslow House
OnsLow Street
Guildford
Surrey GUI 4TL
Bankers
LLoyds Bank PLC
P O Box 1000
BXI ILT
Investment Advlsors EveLyn Partners Investment Management Limited
45 Gresham Street
London EC2V 7BG

Page 3
The BLair Foundation
Trustees, report
The Trustees present their report and accounts for the year ended 5 April 2024. The accounts have
been prepared in accordance with the Deed of Trust and the recommendations of the Statement
of Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Iretand IFRS 1021 (effective I
January 2019).
Powers of Trustees
The Trustees have power to apply income as it arises, as welL as the whole or part of the capitaL of
the Trust Fund, for such charitable purposes as the Trustees shaLI think fit,
The Trustees have power to accLJmulate income throughout the accumulation period (twenty one
years from the date of the original deed). Any accumulations shall be heLd as an accretion to the
capitaL of the Trust Fund and be subsequentLy distributed as if it were income arislng in the current
year of distribution.
The Trustees have the power to invest in the purchase or other acquisition or improvement of any
properly as if they were absolutely entitled to the Trust Fund beneficiaLIy,
The Trustees have the powers to employ agents to transact any business on their behalf, provided
that the Trustees exercise reasonabLe supervision of any person or corporation employed by them,
and that aLL actions exercised by advisors on behalf of the Trustees are reported to them as soon
as possSble.
Objects
The objects of the Charity are for the Trustees to apply the income and capital of the trust for such
charitable purposes as they shaLI see fit
Governance
The Charity was established by Charitsble Trust Deed dated 29 March ig89. The deed requires
that there must be at least three serving Trustees. The statutory power to appoint new Trustees
vested in the SettLor, Robert Thornton. during his lifetime. FoLLowing the death of the SeltLor, the
power to appoint new truSt￿S vests in the continuing Trustees.
How the Charfty operates
The Trustees currentLy meet at least once a year to review the activities of the Trust, and to review
and approve donations to charitabLe bodies, A receipt for aLL donations made is requested from
donees and held by the Trustees Donations are funded from cash held with Smith & WiLLiamson
Investment Management. The accounting records are maintained by Philtppa JilL Thornton.
ActTrAtles
During the year 2023/24, the Blair Foundation spent just over £IOI,000 on 50 charities - a simiLar
figure to the previous year. 16 charities received ftjnds of between £3.000 and £7,000 including the
Queen Elizabeth Foundation, Ayrshire Fiddlers, Handicapped Children's Action Group, HFT
IformerLy Home Farm Trust), Project Factory and Bristol ChiLdren's Help Society. ALI these
organisations have been helped by the BF in the past and written about in previous reports. Two
thirds of the charities we supwrt are invoLved with helping people with physicaL or learning
disabilities, life limiting illnesses or mental health issues live Life to the fuLI. A fifth of the donations
went to wildlife charities including Somerset Wildlife, the SOIL Association, and the Barn Owl Trust.
These amounts. the groups we sUPPOrt and. for many. their West Country location are in Line with
our commitment over many years.

Page 4
The Blair Foundation
Trustees. report (cont..)
There were nine new charities which the BF chose to support tast year. Welts Oratorio for example
received £4.000. They are a group of 100 singers, under the patronage of Sir John Rutter, which
give three choral concerts a year in Wells Cathedral dubbed the 'Queen of English Cathedrals,.
WelLs Scout Group was given £lOOO to help buiLd a toiLetand changing block and WeLls Community
Network, a volunteer organisation, received £500 for people in need in the Local area. Another new
charity to the BF. The Woodland Trust. was supported to the tune of £1,000. Its CEO, Dr Darren
Moorcroft. recently wrote,. 'With manifesto commitments missed and the importance of increasing
tree cover not changing, we risk trees dropping off the agenda, when the opposite is needed,.
WoodLand currently covers just 13/ of the UK compared with 30/0 in France and Germany.
According to Carbon Brief, the trees that have gone unpLanted since 2019 would have removed
8.sm tons of carbon dioxide in the next 25 years. Very often. it is not just the money donated to
causes such as these but the raising of awareness of the wort< they do that matters,
At a time when grassroots charities are being overlooked for public contracts and grants despite
being better pLaced than their larger counterparts to deliver them, it is alL the more vital for the BLair
Foundation to continue its prc*3ramme of charitable giving. Some of the smaller charities we
support are consistently unseen, underfunded and their impact unrecognised.. we help give them a
voice and a presence to make a difference in their field of expertise.
Investments
The trust i nveslments are aLL in UK Listed Securities on which the Trustees have taken the advlce
of thelr Investment Managers with the exception of the Investment with Halifax Financial Services,
The Trustees instructions to the Investment Managers are to maximi* the Fund's income, subject
to at Least preserving the reaL vaLue of its capital. and therefore to adopt a medium to Low risk
investment strategy. The Trustees are satisfied with the portfolio's overall performance. Investment
policies and performances are reviewed at meetings by the Trustees,
ReseNes poucy
It is the intention of the Trustees to maintain the capitaL of the trust so as to provide a continuing.
and hopeffuLly Increasing, stream of income. The Trustees consider the charity's finances are in a
strong position and enable the future to be faced with confidence. The charity has free reserves of
£29,90812023.' free rese￿e5 of £18.8321. The Expendable Endowment Fund can be transferred to
the Unrestricted Fund at the Trustees Discretion.
Risk management
The Trustees Consider that they hoLd adequate funds to m*t current liabiLities. They have
reviewed their procedures for the assessrment of management risk and consider that they have
proper procedures in pLace,
Plans for the future
The Trustees intend to continue providing grants in a similar manner to that followed in recent
years. The Trustees have considered the impact of covid-19 on the activity of the Trust and have
concluded that the Trust WILL be able to continue to operate as planned for the foreseeable future.
It is ￿kelY that the impact of the pandemic will increase the needs of some charities and this may
result in increased grant expenditure in the future.
Publlc Beneflt
The principles of public benefit. as defined by the Charity Commission, have been noted by
Trustees. The Trustees confirm. having given regard to the Charity Commission's guidance and
state their belief that the Fund provides identifiable benefits to a section of the pubLic. The Trustees
receive correspondence from those in receipt of support to confirm the positive impact it makes on
their circumstances.

Page 5
The BLair Foundation_
Trustees, report (cont_.>
Flnandal revlew
Donations and investment income generated incoming resources of £28,27812023: £27,621).
At 5 April 2024 the Endowment Fund amounted to £459,976 12023.. £459.9761. Unrestricted funds
of £29,908 12023., funds of £18,832) are available to fund future trust expenditure and donations.
The realised and unreaLised gains on Listed investments during the year was £51,836 (2023.. Ioss
£127,823).
As the gross income received in the year is more than £25,000, accounts WILI be required to be
independentLy examined this year, in accordance with the Charity Commission's accountancy
requirements.
Trustees, responsibilities
The trustees are responsibLe for keeping adequate records which are sufficient to show and explain
the charity's transactions and discLose with reasonabLe accuracy at any time the financial position
of the charity and enable them to ensure thal thefinancial statements comply with theCharitie5 Act
20ll, the Charities (Accounts and Reports) ReguLations 2008 and the provisions of the trust deed.
They are also responsibLe for safeguarding the assets of the charity and hence for taking reasonabLe
steps for the prevention and detection of fraud and other irreguLarities.
Approved by the Board of Trustees on
w'.J Jc,n
and signed on Its behaLf by Jeni Thornton. Trust￿.

Page 6
The BLair Foundation
Independent Examiner's Report to the Trustees
I report on the accounts of the Blair Foundation for the year ended 5 ApriL 2024 which comprise
the Receipts and Payments Account, the Balance Sheet and the related notes I to 10.
Respectlve responslblllties of trustees and examlners
As the charity's trustees you are responsibLe for the preparation of the accounts. You consider that
an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Actl and
that an independent examination is needed.
It is my responsibility to examine the accounls under section 145 of the 2011 Act, follow the
procedures Laid down in the GeneraL Directions given by the Charity Commission under section
145151(bl of the 2011 Act, and state whether particuLar matters have come to my attenlion.
Basls of Independent examlnefs report
My examination was carried out in accordance with the General Directions given by the Charlty
Commission. An examination includes a review of the accounting records kept by the the charity
and a comparison of the accounts presented with those records. It is also includes consideration
of any unusuaL items or disclosures in the accounts. and ￿kIng 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 examinerfs statement
In connection wlth my examination. no matter has come to my attention..
which gives me reasonable cause to believe that. in any material respect, the
requirements..
to keep accounting records in accordance with s130 of the 2011 Act.. and
to prepare accounts which accord with the accounting records and to compLy with the
accounting requirements of the 2011 Act have not been met., or
to which, in my opinion, atteiition should be drawn in order to enabLe a proper
understanding of the accounts to be reached.
Susan Kumar ACA
Holden Granat LLP
Springfield House. 23 Oatlands Drive,
Weybridge, Surrey tffl 9LZ
Date.. 14 June 2025

Page 7
The BLair Foundation
Receipts and payments account for the year ended 5 April 2024
Unrestricted Endowment
Funds
Fund
Total
2024
TotaL
2023
Note
Recelpts
Investment income
Investment transactions
28.278
10 239.158
28.278
239.158
27.621
336,741
TotaL Recelpts
267.436
267,436 364,362
Payments
Grants paid
other expenditure
Management charges
Investment transactions
101.950
8,000
12,907
10 133,503
101.950 105,200
8,000
7,100
12,907
14.729
133.503 256,289
256,360
256,360
383,318
Net IPayments) / Re￿Ipts for the year
Bank account balances at 5 AprfL 2023
Bank account balances at 5 April 2024
11.076
18,832
11,076
18,832
118,9561
37.788
29.908
29,908
18,832

Page 8
The BLair Foundation
ststement of assets and Liabilities for the year ended 5 ApriL 2024
Unrestricted Endowment
Funds
Fund
Total
2024
Total
2023
Nota
Investment Assets
Tangible fixed assets
UK Quoted I nvestments
7.500
10 433.867
7.500
7,500
459,976 893,843 947,662
441.367 459.976 901,343 9￿,162
Monetary Assets
Cash and bank balances
Evelyn Partners - Investment Account
Evelyn Partners - Dividend Account
Lloyds Bank
301
7.731
21,876
29.908
301
7,731
21,876
1,875
7,482
9,476
18,833
29.908
Liabilities
Independent Examination Fee
Accountancy
1.440
1,440
1,260
7.123
7,123
6,260
Approved by the Board of Trustees on
and signed on its behalf by Jeni Thorntcn. Trust
The notes on pages 8 to 12 form part of these accounts

Page 9
The Blair Foundation
Notes to the accounts for the year ended 5 ApriL 2024
ACcOU￿1NG POUCIES
a> Accountlng Conventlons
The accounts have been prepared a receipts and payments basis and in accordance
with appLicabLe accounting standards and Charities Act 2011.
bl Investment Income
Income is brought to credit on a cash received basis
c) Investments
Investments are valued at a mid-market vaLue at 5 April 2024,
dl Income
All income from donations and gifts are included in income upon recelpt. Any associated
income tax recovery is recognised as income when received.
el Grants Pald
FULL detsils of grants pald to institutions of more than £500 are included in Note 4 of the
accounts.
TAXATION
As a charity, the Trust Is exempt from tax on Income and gains falling within section 524 to
536 Income Taxes Act 2007 or section 256 of the Taxation of ChargeabLe Gains Act 1992 to
the extent that these are applied to its charitable objects. No tax charges have arisen in the
charity,
INVEsfMENT INCOME
2024
2023
Investment Income recalved froffL
Dividend Inconie
Interest Income
16,592
11.711
17,964
9,657
27,621
28,303

Page 10
The Blair Foundation
Notes to the accounts for the year ended 5 April 2024 (cont,..,>
GRANTS PAID
2024
2023
Age UK
Ahoy Centre
Ayrshire FiddLe Orchestra
Barn Owl Trust (The)
BLesma
BLood Centre UK
Bowel Cancer UK
Brainwave
Bristol ChiLdren's Help Society
Bumblebee Conservation Trust
BuLlerfLy Conservation
Calvert Trust
CerebraL Palsy pins
CHAS
Coram BeanstaLk
Coram Life Education Bristol
Disabled Sailors Association
Eastside CommunityTrust
Edlnburgh ChiLdren's Hospital
Fareshare
Fight Against Blindness
Flamingo Chicks
Forest of Avon Trust
Grief Encounter
Handicapped Children's Action Group
Haven Day
Heads Up
Home Farm Trust
Jamie's Farm
Jessie May - Children's Hospi￿ at Home
JuLia's House
LifecycLe
Life Education, Bristol
Marine Conservation Society
MNDA
Music Space
Orchard Vale Trust
Penny Brohn Cancer Care
PrickLes Hedgehog Rescue
Project Factory
Project Seagrass
QEF
Resolve West
Scottish Mountain Rescue
Seafarers
Second Chance
SENSE
Sofa Project Ltd
Soil Association
Somerset Wildlife Trust
1.000
1,000
6,000
1.000
500
500
1,000
6,000
1,000
500
1,000
1,000
3.000
500
500
2,000
500
2,000
1,000
4.000
500
500
2,000
1,000
1.000
3,500
1.000
1,000
3,000
1,000
1,000
1.000
500
2,000
500
2,000
5,000
1,000
5.500
5,000
3,000
3,000
2.500
1,000
500
1,000
1,000
1,500
2.000
3.000
500
500
2.500
1,000
5,000
3,000
5,000
3,000
3.000
2,500
1.000
1.500
1,000
3,000
750
5.000
500
7,000
500
51X)
750
14,000
500
1,000
3,000
5,000
3,500
3.500
1,000
1,000
1.500
1,000
1,500

Page 11
The BLair Foundation
Notes to the accounts for the year ended 5 April 2024 (conL.,)
2024
2023
st Margaret's Hospice
st Peter's Hospice
starLight ChiLdren's Foundation
Support our Military Veterans
Sustrans
Tall Ships Youth Trust
Teenage Cancer Trust
The WoodLand Trust
WelLs CathedraL Oratorio Society
Wells Community Notwork
Wells City Football CLub
Wells Scout Group
West Country Rivers Trust
2.000
1,000
2.000
500
1,000
3,000
3,500
1,000
4,000
500
2,000
1.000
2.000
3,000
3.000
950
1,000
1.000
Charitable donations of less than £500
200
101,950 105,200
OTHER EXPENDrruRE
2024
2023
SecretariaL servlces
Postage
8,000
7,000
100
8.000
7.100
ADMINisfRATIVE EXPENDftURE
Investment management fees
Accountancy and administration
5,186
7,721
6.113
8,616
12,907
14.729
EMPLOYEE INFORMATION
The average number of fulL time empLoyees
The average number of part time employees
Nil
Nil
Nil
Nil
TrANSAcfioNS WITr1 TRusfEES & RELATED PARTY TRANSACTIONS
None of the Trustees were paid any remuneration or expenses by the charity during the year
12023. nill.
P J Thornton. who is related to the TrUSt￿s, was paid £8.000 for secretarial services in the
year12023: £7,000).

Page 12
The BLair Foundation
Notes to the accounts for the year ended 5 ApriL 2024 Icont.,..)
TANGIBLE FtXED AssErs
2024
2024
2023
Historical
TotsL Desk Seal
Total
Cost
At 6 ApriL 2023
At 5 Aprll 2024
7.500
7.500
7,500
7.500
7.500
7,500
Accumulated depreclatlon
At 6 April 2023
At 5 AprfL 2024
Net book values
At 5 Aprll 2024
7.500
7.500
7,500
Note - The Historlcal desk seal is on loan to The Royal Naval Museum,
10. FIXED ASSEf INVESfME￿rS
TotsL
2024
Total
2023
Investments
Market vaLue 6 ApriL 2023
Additions
Disposals
Net investment gain/lloss)
Mid market value at 5 ApriL 2024
947,662
133,503
(239,158)
51.836
893,843
1,155.937
256,289
1336,7411
1127.8?_31
947,662
Market vaLue of Llsted UK Securities
Market value of Unlisted UK Securities
676.911
216.932
742,792
204,870
893.843
947.662

Page 13
The BLair Foundation
Notes to the accounts for the year ended 5 ApriL 2024 (cont..)
10. FfxED Ass￿ INvEsTME￿[S- contlnued
Investments in individual entities held at 5 April 2024 which are over 5/0 of the portfoLlo of
Listed UK Securities by value are..
Market
Value
Nominal
14,000
4,600
32,700
140
1650
1,475
IFSL Evenlode Investment
ishares Core ￿sE100 UCITS
Thesis Unit Trust Management
Edgewood Select US Select Growth
First Trust Global Funds
I Shares Core S&P 500 UCITS
35,356
35,526
36,199
49.442
42,916
60,434
The Unlisted Investment is invested in 250.657 HaLFfax UK Investment Funds Corporate Bond
Fund Income Shares - RetaiL Class C shares. The investment had a market vaLue of £216,931
at 5 ApriL 2024 <£204.870 at 5 ApriL 2023).