THE BRIDGEf ESPINOSA MEMORIAL TRUST
TRUSTees' REPORT AND FINANCIAL STATEMENTS
POR THE YEAR ENDED JI JULY J125

THE 8RD3Ef ESHNOSA MEIIORIAL TRUST
Il•f•MK• and •dmlnl•tr•lw d•t•llw olthg ¢h*, *• Tnrnt••• •th4*4
11. 14
Is
10
Ch* b*nc• ¥lx•t
17
18
Mom to th• fjnan¢lilsl•tymo
19.315

REFEREMGe AND AOMIMSTIIATNE OETAIL8 OF THE CHARITY. ITS TRU•TEE8 ANDADVIgER8
FOR THE YEAR ENDED 31 JULY 2025
A U
numbw
Prfn61p•l ¢)ffl
Sw trlil
S•v(ry Hll
WC2R OBU
Ind•p•nd•nt •udllorn P41er SIIM UP
Comwal AThM
N31LF
P￿1

TRU8TEES' REPORT
FOR YEAR eNDtD 31 AILY 2•28
ar 31 202S
OblKth•• •nd Kllvllkn
•. PoK*• and ¢xIJ•GIi¥••
u•#d lo fvnd X*¢)larnhI￿ to •a•ndry h c￿8￿*￿1• Sy danr* drnma gnd oth
TnJ81888 6Thwe Ilwt Il* •aucatNA rJ)tne3 ve •¥*tle to trJ •Dh•￿ t￿11 èduc•tion
I￿ Jvuiw obi•L*'v•* rAW￿.￿y4 lor th8 T￿￿t￿O hv40 gi￿1 ca)Mth*lth lo gernrAI 0uk18￿*
pilb¥Xh￿ the CW Cunmlmkn lo bOr￿L th• giMdwK•'Pthk benaft. fuMirF *
{V82y.
Tho frutsl *¢èk• m••t tt cJrfyl ol 11 I
Iradlng
maiNaln8 0 (￿lI[￿A￿￿Y plDn inth• ofArdlw p*th*- maint*NrpJ Th ddivery ur
BA (Hcw) Pr¢Ae•8thd Pth*r*• ITopUp)
CgwIHE DWJ *nd Tho*rn
OanLZ PerfsXma￿v
MA uaiKe EoucgiK)n
. Voo>Mnal Miirg
d. S￿1•1 In¥••bMnt poN¢l••
Th• TrLAI 18 cjjmmittod to AC£W It(m of #xir 1]na￿l￿ or
PL4*y.

THE BRI￿ET E8PIIIW IAEMOldAL TRUST
TRUSTEES. REPORT IcoirfiNLIEOI
FQR THE YEAR ENDED 31 JULY 2026
. Gr•nQdm•klng poMGI••
ttro w0￿r uKrA￿ EU lry*y •tstu•l •r• **>lo lor •upport fr<
st￿]ent Lo1￿ CUnp￿Y19 Pald d• Io Iho twoos foes. *thi13l maintenanc¢
•n• I grnrt• l t￿$￿1•# ••wded ￿ p•J dir¢c4y to ts •ttthnl. 0￿•&6 ar* •KIFbl• for UK
Govornmani 8UM)OQ rn￿Y #Ywjh tw •xwTrpb• knryi•n ?lud*nl•
. Tho L•VOrtwlm• Tnrnt - 2024rd5 ¥Thl lknwl cwY*nt threep￿r Leverhulme ¥r*rt
gf¢iry £$8,$00 durirv4 thi• acad•m* y•¥ LSC h•9 b8•n I￿¢*1￿￿ tmd lu furthèr L6v•thukn• Art•
S¢hlar8Np fwKl*w br • fvrthtr 5 perknd 202&30.' VAKI
gtheme for Ihjse knrtl• of w•r¢4, ￿thr￿n•d ty hou••hold
I￿¢M• Th• •thol¥rth"p i• 4 mgxiftmm of f3.Crf)) pw {d•r*￿1￿￿ Up1￿ 18W of mInt•￿n¢0
5uFwI a31•8wJl •wwded agaml th*r tLthn 10gB. LSC o *•0 that ir¢wio 9ontr•iod IhrDJgh
No12024. ￿[) dbr•ot want• ¢kxwvJ th• y4V.
The Tru3iee3 coniknue ￿ obYr4¢v I￿ *a4¥11o• WKI LoTrkn $bjd￿ C•ntr• lo •n•fft fnJ¢t
8ble to pyo￿1 supwjrt to a•prirwJ perfmrn. LtyKknn StsK￿) Cwrtr• * ryxnmltt&J lo wovpJiTra Olthxh
to ￿lUcIli(￿l e8tabllsthenlS coffwnunAie8 kn Ordgr to 41trxt •nd ￿Ontify l#lenl8d young
r￿oF4• from a rKTrtra(Atk)nd lèthr. LSC *0 ￿￿8 w ￿er￿j sc1￿me Iden￿rI￿ and 8UPPOrt¥
Payv 3

TRUSTEES. REpofff (CONTINUED)
FOR THE YEAR EMDED 31 JULY 2026
Lmtsd by Mrtu• ot ts P34Wf to th• Bcwd of L<th Stixlio Centre Liniiled. Tlw I
'LSC h98 & slmnq to mo81 wii4ftw Lynrrns for tgrn d4iiL*, siiyry
'Th& bwJ•frf8 c4 all Ihat 3ffd fftr (WT Ihty h•v• T•c*V￿ Ilw lim• * LSC is in
ATra EX1w￿ WrfknJ•'
'Sli￿nts, ...4r• •xc•lbnl m8rks. Tmsg portrolk>s,
IIKlu(*'np vrt41aI￿kn pr￿1￿¥."
P898 4

TRU8TEE8' REPORT ICOIfflNUED)
FOR THE YEAR ENDED 31 JULY 2025
In 20W25, LSC pro4rtw 138 12024 . 118) Fw SdM*th"p •xl Wldw*vJ Palk1p*￿ Furn1 •wJrd•,
tc4Allrg £4e8.403 (2024. £431.8261
Our BA IHon•l Profe•8W DAru Porf￿rna￿ Th••tr• Ihtx•I ctsthuab￿ h•# maint41Md rts hio
¥•1 of 9fh 1202+95%). In teJm¥ ol C4%￿181￿, prwIw￿ h•v• •th?r qU￿*d or *r• •UI •bJdyln9
r•m8tns at 95% 12024-94*1. Ow D•grn• mprovmg r•i• irt cl￿￿tIj￿n at 92% of YI
a￿dentS finlghlw J*ar12024-87%1. lo￿￿ ot Y2 •knJ*)t• c•mtyots3d lh• w¥r*Mmé l)Jr BA
(Hon*} PrDIMs￿#I Ptrlum8￿ (T¢)p Up) 8 0)nwlrtth rf 83% wilh 2 slud8nl6
1ntem1pbn￿hthry pir24.100%I, lh• •m¥l ojhryt liz• a dI￿)rt•d perwlgge
Cthnp￿1￿)n C•rtHE in ts fnt ￿ Iwd a I￿)* c¥*nk￿¢1th r*, 70% cl *tth on th8 Dtyree
PwJ8 5

THE 8KDGET ESp￿03A MEmoR￿L TRL￿T
TRUSTEES. REKIRY ICONT114UED)
FQR THE YEAR ENDED 31 JULY a125
Rwl•w of •ctl¥lll••
proorammes 18 that Lon¢kn SI￿1￿ C•rtr• WOVKkn •¥l•wo trdnlng ex￿er￿S vAlhln the final
r ol fv courw Th8 SI￿1￿, ¢xkn"n•le• ￿ l(XJrn 8WA"8h&Mva Thogtre, Cont8mpor
Dan￿. Jazz & C<xnmerd* WKI Ul¥l. wh wi London. The first $éeoThJ yt8r
Mar¢h at •rlsdeth and th e4vJ ol y•or l#k•a •t thè WthbledM T￿Atre,
8411•1 Cymru. Mallh** BO1￿*• Nth¥ *th•thr•s. KVN D￿¢0 C¢mpwy, Gtynd•l>wrM Fa8ll¥al Opwa, Yowk•
dn(x Pr9*1. Zocdau￿), Sts)t¥•h 80181. Erylknh N•lkywl 8•W Fl¢yfftl Ball•t CrAMp•ry, Roy* L*r•iTh
8aHel, Intsmaith41 Clè￿￿81 8alot. In*m8lknd F•slpAI BaYDt Gr￿1￿6 ￿ I￿1rking for cnjl
AID& MSC Cn•M•. P&0. CnNg0 Lk*•. P￿n￿l Co￿r* CwiM•
and Rty41 C*ll)bfr*n to n*n• • Iw.
In 2024r25 gradual•• alw ••cur•d role• In • w of Ih••tr• HamAlcffi. 8118• th• MUWAI,
Gr••w, C•b¥•t. Rw•l Kh*y Et*ts. Th• 42Th1 Strwt. Why •n I w •lr¥JlJ?. H•rry
Pottw and th• Chlly. klaok Mik• LI￿. H•VKJ Ofyty. H•rw•y. Tho c￿¥4 Wo•r¥ Pr•d•. W¥*ed. MgJkl•,
eK%Jmlr¥J N•w. Chh>oo, Th• Imporlwe• ol E•rwt. Thi• li Fwnlly. S*gbn' In the R41
SM¢th•lm'• Old FthJ•. Glry*M. Mthry WN••. Top Hat, Slww Exw. T￿ LK•) Kkng, Shu(*•d a
Thany, R¢xk ol Aw•. Prw Wc•Ybm. Co1•. A Lirn, Sknl•r * OkJalb)m•l 1
Cwwt. W•tsh N81km￿ opern'• CwwJO•. Plwrtcffi ol the Operw. SIX. 4nd Rorn￿ thid a8 vffjll ••
n￿￿nI?* •8 Shak•4p••ro'• Gk*o. lo￿ CLVnWV, C•rvkno 0￿00 CompDry, Royal Operts
Hww, •m¢Y& I￿e1¥￿% vnk. AJMgsth the prOfe￿lOn*1 London St￿110
Cth h85 Sustalnod. a I￿lt￿l ol w•dLKq¢es ha￿ ffloved oth) rtht 2025 thDt In[￿Ided
PGCE'•. aThJ v•riou• IA4•. GrAk•l•• •r• ts8th'ff4 the UK lo ¢lwroph th•lr
CA￿ ￿rk for ￿mr•r*•I.
i FUndra15h￿ aGIMlleJ aNI hKome gwa
Py6

THe BRIDOET E8PII*)SA IIEMORIAL TRUST
TRU8TEE8' REPORT ICOIITINUEOI
FOR THE YEAR ENOED 31 JiLY 202S
FIn1nd￿ rn¥bv*
b. R•••rM polky
fmd. th• O¢xl• Bwry •*ard, ¢1£72312024. £7231.
Il•bHl•l In¥••lm•Di¥ polky
onty hwutrtwnt Trwt h•• l• kn th• •thIdI￿. Ltyxkn Stwjlo C•rlrn
Umlt•d.
b••n ••L•tyi•l*d rrt•Mwy •tsp• b• tkn to I••1￿ thM• ri•ki.
An $nnu* r•¥iow crfth• ri¥kn (*or*y m8y f•(*,
Mathr￿M•.
•, Fln•ncl•l rknk m•n•oThntQb￿•• and polkl•*
Th• Tm•t in Londr￿ StLth) Cwth• ol finwK¥•l corth its b•8•d ￿ •
thè wc¢•dwu',
(tfflwthemi¥e budg•b'tvJ and m￿￿o￿n9 syskn)$ 7Aith rnal Ix*81 pthL)*c fiMrti•l roports
aro (knp ltr 9ry4wntsio t•)dy wlthln LSC vthlch
r¢p)rts to lh8 TnMt•¢¥l,"
identrfthm aTrJ manage￿￿ c4her ii&ks thrW *wJ
l. Prfnc6p*l
Pap7

TRL13TEE8' REPORT (COPITINUED)
FOR THE YEAR ENDED 31 JULY 2025
g. Prtdng polky
Folry•dTra th• R•F#J¢ in Oc&)b•r 2010 C4yJfK41 rA wa• phaw wt
Ihwelorn now •tudont8 eirt￿Mil a c<wr¥• at L¢¥Kkn StLX1￿ CMtr• w• tOl￿d tho bw f•0 for tho
lèttture $paco8 and 8peu*k41 eqU￿rnent. • order en%Ke the ¢tyJrne ￿￿p￿,. to *Up￿Y aducatad
•. eormthuoon
Th• 8r*I￿ E•*1￿* Tnmt l• • reoknd dwty. rrtmkn•r ￿1￿77. l• TN•t
d••d d•t•d S Jun• 1900 •nd d••d 014wn•ndm•rt dat•J 19 Jum 1998.
Tru•t w•• ￿taL4&•I￿d fr(Th Th• Tn*i r￿￿￿llY h*• * t¥*¢l*vJ lu￿￿•ry, Ll￿dOn
OFrted underth• i•m$ TnJ•l dmd.
The Bo*Yd k••p• th• thll• rnwir•m•rtt trth• wv*iv*. Ila kn•t•• i• r•qW th•y •T•
of Trust￿.
disc￿$ the Chantl8 Ilw wcres8 rew￿￿.￿lties of tr* Tru818e
Pggv 8

TRUSTEE8' REPORT ICONTINUEDI
FOR THE YEAR ENDeo 31 JULY 2025
l. R•l•l•d ￿lty rnl•¥on•hlp•
Th• Ch•rity ib tr• pw•nt ol the 1orA Irlwmt h) L￿10ft S1uth Untss.
The Trwt VAI to mak• 8wwd• In tt#Jydan￿ *ilh th• dwritatl• dop￿denl tt)•
aii4ty11ty ol Twour￿. Tntyl•e• oJnknu• tt• oW*va• thrwjh Iho ulo of #• Ira¢kng
Pradic•).
Tho l•Y athlcat4• to tharll•• Yi & bV*•• roqwre• the b) •l•t•monts
exh ¥Thl Iw Yw• of the cl dlair8 of tre GTW ¥vJ the and of th
obswv• lh• m•kn)d• •nd pmt1￿¥ d lh• Chwlll•• SORP IFRS 1021.,
st#t• Mth¢th•r appJic•blo UK S&￿1•To• IFRS 1021 h￿￿ b1￿ folo•Ad, to •ny
lh• Gro￿ th• ¢h•rtV8 tr•nsxthX8 and ili•do•e ra8•￿*bI• at any lknè th? fin•r*wl poortir
the Growj arbj the ch￿ty Ilwn to anwrg th•1 St•t*n￿rtJ cixnF4y ￿ Il* Charfli*•
Aet 2011, Iho Ch*lty I*£c￿nts WKI Rep￿ts1 2008 aThJ the cl t￿ Trn￿t deed. are
so raspons￿e lor ￿reWard1)g th• aM•ts ol ts Grw i*artr *)d hence hr t•king leas￿* Sie
that Trystee has t*ten al Il* * •*1 tt> hm b•on 88 a fnM¢•* to be of
any Telth *)fumakn to e8lat4*h Il¥* th• ¢*41itst4• grwty8 *Mlikvs •m aywe d that
Pag6 9

THE 8RIJW E8PIIKWI MEMORIAL TRU8T
TRUSTEES. REPORT IcoimMUED)
FOR THE YEAR EIIDED 31 JULY 2026
Pwio

INDepEMDENT AULITORS. REPORT TO THE MEIIJ8ER8 OF THE 8RIIGET ESHNO8A MEIIORIAL
TRU8T
Oplnlon
We have wdled the 1kn•￿Il •l*rnt8 of BTh*Jel E8fv m￿n￿￿ lth•'parent L*•rWI and Its
subshli￿$ Ilh• 'gro￿) lor ts )*w 31 2025 compnM tho cr￿$(1￿t&S *lement of
fin•ndal •¢lwties, th? •he•t, ts th•rfty balwK* •he8t. the ¢)ywhJ8ted st•tem•nt of
cagh fiows qnd lh• rdathd nclas, ir￿￿ding 8 wmrnary of wwr*"rpJ Th• fin8ndal ￿pc￿1n
framthbDrk th•t hA• Lwi apK4i&J in tlthr w•p¥•kn 61 •pr4￿￿tI• Lww aThJ Llrdt•d Kingffi Aco)unttng
preparirrfj th•ir le￿1• ui acc(*thThx *llh th• Fimrthl Rwxb"NJ St•*J¥d8 the UK
Republk ¢X Ire1￿j {FRS 102) Jn tr) th• R•pth'rvJ by C￿ntle1.. Ststoment of
R•erynm•Th* PrKOc• 2N)5 rrf•nd tr• •xt¥rt r•gula*"¢J)• h*• b••n
A¢¢oFl•d kncxwrting Prn(*• •ifth for r•prytr¥ P*K¥J• bogthTra on crf l a￿U•ry 2015.
a tnki •rrtl Iw cl lh• •lat• ol tr•• GI￿￿.• th• •131 ￿Y 2025
Prncbc•' and
81#1• loroplnk
W• cmductod rJJr In *ith kn1•Ma￿ StwvJafd• rm IVK) (ISA• {UK}) fjpp1￿b
Iww Our r•$F#￿ts11&99 und•r thow •t*idwd• we furth•r In ￿￿￿or￿. mpon8b11108 for the 8￿1
ol lh& financlal sl*¢m•nts our r¥•Jt We ol Ihe Grtsup In wrth the
cal ￿q￿rem&￿ts that 4r• rdevwrt b) our of finonriwl *latom•nts in th• K*)gdom. ￿￿￿.￿9
th& FIna￿al R•pothJ Cour￿1 Siw*Jwd. h•￿ ftAfiHed othw 8th￿ fe•pOn8lbi￿l￿ In
qpwr¥JrW• a b••A for wr
ecthlitic￿* IhaL irxliwduaty w coleth*y. may ￿t ¢*yJbt on th? Gr[￿P.$ w the thaTlty¥ abilty
Page11

INDEPEIIDENT AUDITORS. REPORT TO THE IAEM8ER8 OF ThE BRIDGET E8PW08A IIIEIIORIAL
TRUST ICONTIIIUED}
•x¢ept to t￿ atthd W, w• not •xww$ ￿ lorni ot a•Bur•nc•
ol th• audtt, or #mr• * t• m*en* mt8St4t•d 11 ￿1￿11 m*rlal Inconw"$tsnciM or
•FP•Wt m*nal ml•1tskn￿t•. 7A* w• rvwtr•d to d•twm¥* rile lo • mater￿1
RIqu￿tI&￿1 2008 rwitres i•wt b) >1￿ W, kn w 0[*¥￿.
R#POn￿lI￿• of tYu•lM•
•paration of Ilnarthl •tthnwkn l•k aTrJ Irrt•mo1 corm *• lh•
In th• finan￿￿ SIthn￿ts. t* TnMt••* ¥• rèWft￿t4e ts 8W88INJ tr* Group's *d the par￿1
Pafqnl cw (¥ to C￿$0 op•i*ths. or Ixrt k> do *0.
Pag• 12

IIIDEPEMOEMT AuorroRV REPORT TO THE IIEMBERS OF ThE BRX#3Ef ESPIM08A IAEIIORI*L
TRU8T (CONTINUED
frcAn materi81 mJ8ststwn•rt *thethw to tr•thY crf •rrN. WKJ to 188u• fl￿ that t￿e$ our
cpiThon. R••wnabl• a6gur*K• i8 a 0188gurw. ￿ is an •Jdit c￿￿￿¢19￿ In
C4ydort• wilh ISAS (UK) d￿•(* * M￿•r1$ mi8•talemwt &xi•ts. Ml88tatements ¢pn ari
from tr*￿1 or •rr¢r ¥*J ar• rnthlal bl. Lv in IP* agwegats. tlw rAkl reaso￿bty b•
Irr•oularkns, IrKluthrvJ fr5￿1, ¥re la￿ r•wl•b"on•. W• deolgn
oc*dur¢a m li)e wlth ￿ reSp(￿'bH￿￿¥, •Jtln•d •bov•, to d•t•ct m*t•wi4 mffj8tat•m￿1l In re•pect of
1ff4gulari¢￿. IT8￿1. Th• CAY ¢•pth iwlwitie•.
ind￿&"n9 fraud i• d*iknd b•lw.
erfor. and I￿n deS￿n aThJ kwrltym awjt woc•dw r••W￿ to rilks. ¥icknirva obtsiniro aLklit
Vrtl8nc• th•t Is iulfidgr* arthj •rvowlat• k) mNJ• a ophtm. In idenffj* ￿••￿￿1￿ ri*k• of
rn•lth¥l ml••lAt•m•rt In rn•p•cl of Ir*KI •Th1 i￿￿)￿*￿￿nce l•wJ •TrJ r￿￿tIC￿,
madt enwire• ol m*wg•m•rt •brJA Ihw w•Jwnwrt dth• riik ol Irrewlwtti••:
r•vi8w*d mlnut•s of M••In￿..
of non<unKa0￿•. koy Iw*• c*xMkW in INB cont•xt MK*jd￿l ts UK Corwn*•
D8t• ProlKtKn. Anti-eritwy, Emrlryrn L•. Hoth SW. •A1 lkney Laundwro Ad,.
of *n *xlTrt. I￿ is • ri•k that r*)t d•t•cl dl Irregul•rlVe•, knoludlng
th￿* Win9 to a m4l•rfal miul•t•)Mrt kn lh• •t8t•m•nts rx with regUl•ti￿. This d¥k
Inu•a•e8 th• mor• Ihat Iw4 Lv r¢M￿l*0 frtyn the Bvents and transac￿)n*
rel*rt¢d in the Ilnanci41 $l*merrts. al be b&88 hk•ty 10 bqcome of ol rrt)nwQ)mrAi8nce.
rhg risk is obo gfyalor rewdlrwj trre￿￿" '￿ 0¢￿￿j du8 tr) fraud rnther eNor. a$ fr¥ud in¥ol¥es
A further deK*ptw OF le￿￿￿1x￿1"el kn Iho audrt of tho btat*l ￿ the Fin￿￿81
•wJbtty8' r•pyt.
Pagt 13

INI)EPEMDENT AUDITORS, REPORT TO THE MEIJIBERS OF THE BWDGET E8PIIIO3A MEIIORIAL
TRUST ICOIfflNUED)
U•• olour rw¢
TIM• r•wl l• m*J• io d4rV• Iruth••. M a t*)ty, Pthl 4 of Chaiiti
(AL?￿)unt¥ and Re￿Nts) Regth•W 2W8. h•8 b￿n w•J*1•k•n lo trwl we rn￿ht to th
ehèritys tnJsts8s IhoR* mAlt*rA 10 81ate to Ihem fjn #n •LhlrtfA9' reptyt and for Trj oth•r purpo9•.
chwty ahd Iw8t•es. as • Ixty.
•￿j11 for rxforth• h•w lom#d.
Adl•r 8hln• LLP
ststLMI
A•ton Hou
C(YnwaU Av•n
London
N3 ILF
Slw¥J LLP •11Otl• to xl •b In 1212 I(￿.
Page 14

CON30UNTED 8TATEMEiif OF FINANCIAL ACTMnE3
FOR THE YEAR E4OE0 31 JULY Z028
T£*al
tund•
knd•
2025
2025
2024
In¢om• from:
Totsl Incom•
V•OM 4J•O• 4,474,￿1
Exp￿dItu￿ ¢M".
4,466.014
VWO14
S￿1,549
44M.014
U66.014
5,(klY,649
Tax•lic
(527,503)
39,2
N•t mty¥•m** In fund•
41194
(488,253J
R•¢oncIll•tk￿ gf fvbMI•:
T¢￿
Net mo4wm•rt in fLThJ#
82&SB7
41,3M
1,313.840
(488,253J
41,394
166,251
25,58T
Pag• 15

COWLIDATED BALAIICE SHEET
AS AT 31 JULY 2025
2025
2024
Flx•d aM•t•
Intan•ble •18ets
¥$ae
17,7th9
487,935
403,1fj1
441.308
8Q5.643
Cutr•rtt ••••t•
C*oh 81 in haThl
107,773
1741.710
41.497, 738
CuTrnt Il•bl¥lw•
Creditcn.. ￿1￿J￿$ or•
12
1108•0
(49SAJ78J
Pl•1 cuff•nl M••1•
672,1•0
539, foo
Totsl M••ts IM• I1￿1111￿•
Cr•dlth". amwrts fam￿ th¥• •ft•r
Ih*n one Iwr
Proth• for Ilthllll••
I,044,￿3
13
1202,616
144.rJ)D)
1129,216)
(90.LUI)
rot•l n•t ••••t•
82IS97
Chartty
R•sMca¢d ILrd8
15
15
723
824.864
Toi•l fund•
866,911
25,587
21 J-IC
Pap io

AS AT 31 JULY 2025
2024
Flx•d •M•t•
Investrn•rt•
10
11.113
11, 183
Debtc
C*ih At bjnk and in hwxl
11
Curr•ntNabWts•
N•¢ ¢unwtt ••••ty
814
11027
12.027
Tot•1 n•t ••••l•
12.1127
12.027
Ch•rlty fvjnd
R0￿cl•d funds
Unr••lrkt•d furwJ•
1S
Is
723
11,304
Tot•1 fvnd•
11027
12,027
R IA Falthlm
?1 1Aq 2.IG
P•Je 17

THE BRIDGET ESPINOSAMEMOIIIAL TRLKIT
ON8OLIDATED 8TATEIAENT OF CA8H FLOW8
FOR THE YEAR EIIDEO 31 JULY 2025
2025
2024
N•t umd in ¢)pwalk¥
1116.437
(153,077)
4•h Ilowj frtyh Inv••llng •dl¥lll••
Purch••8 ol t•rvJty• t¥•d ••Mt•
100.16SI
C*•h fi¢)v4 lkn•n¢ln4 •¢dvlll••
146791
{1.317}
{1.BJQl
(4.028)
(1,592)
(1.981)
HP irt8rfj•l p•d
irt•r•Bt
Nat ￿•h lft IIMnelr4 *etTr4111••
17,7281
17,0011
Ch•ng• In c••h and c••h •quh•l•nth In th• y•
Cash and ca•h •qiMknrf• •t tho ol y•v
4&1386
107.773
1210.033
328,8
C••h •nd c••h •qutrnl•nl• at th• •nd olth• y
66•.O68
107, 773
Page Its

IIOTE3 TO THE FIIIAPICL4L 8TATEIIJENT8
FOR TrE YEAR EIIDED 31 2025
The BrkJg8t E•plr¥M UerfKrflal Tr￿1 li a d4rty w"8t•f¥l Nl and Wakn•. The rngi8lwod
rvjmber is 803577 •rK1 tm tlace kl ¢40 Le8ter LLP. Savoy Hlll
HM•, Sa¥w Hll, WC2R (W.
A¢countlng wll¢l••
fin*vJ* stat￿￿￿1 hm be•n w•par8d In SORP IFRS 1021 .
Acc￿￿1n9 ar*d R•pthJ by Chwrt*a' Sknlwn•￿ (l ft•c4Thn￿ Prth applIcob￿ to ch8rftb
g ththr awounts in lh• FinawKwl Roporbng Slandard •pp1r￿tAe wi th8 UK
R•put41G cl (FRS 102) loff•(th* 1 20191, It* Fin￿al Rowlwyd Ststhrd
•F91￿8 kn tm UK R•W*of Ir•lw*1 IFRS 1021 th8 Charlb88 2011.
th* Charfe8 R•pthl R•0￿￿* XAJ8 * lo th• •x*nt r*￿￿j Io FYLhido a
fair VIN Th1• h•• in4fy*￿ the Chwltkn8 SORP IFRS 102) ￿￿11￿had In
Tho eonadid*•d •t•t*ntyrf d ffn•)dal {SOFAI (￿#01￿1•￿1 b*or￿) 8h••t
torwoldate th¢ cd Ih• chwty rfi wtrAldfrMy th*•rt•klng. The rwull¥ ol thg
2.2 Golw ¢onwn
Al lh• penod Grcw ha• net au¢lB d £￿,•61 12024 . £825,5B71. B•￿d on th• ¢hwrtl•
{￿lI￿Art mrthl T￿11 LE suffK3•)t IbAT ¥v4iL4bbD frTh•rd. For ihl8
bail*.
TfU*tsoi have c￿￿thJ tsi Ih8r• 18 ro rnaterknl u￿ertaInty aNI that fvy ￿ u)nllnue lo
Pa9e 19

IIOTES TO THE FINANCIAL 8TATEIAEIIT6
FOR THE YEAR tIlOED JI JULY 2028
tr>t acadamk tsmo. Ir4xrfno le for￿￿10m* t•m16 lallr4 ¥thln Iho year.
2.4 eMp•ndI￿rn
*• Ihefo i• q legal c*W commitw th• tharty to th8 0X￿1)d￿Ure. AJI
0xp)￿l[l￿￿ IJ *(vJrtod fty on an l>#wB I￿• tot•¥ dgubfi(¥J Iwath'ng¥ Ihat
U 13oYwnrn•nt grnnl•
Govwnmént wants ￿111￿n9 lo I￿gIble f¢<ed •89ets we tr￿1*d w defeffed 4nd rde#$ed to
Pag8 20

IIOTES TO THE FIMANCIAL 8TATEMEMT8
FOR THE YEAR ENDED 31 JULY 2026
A¢cMnllno poM¢l•• l¢ovAlnwd)
2.6 For*n ¢wY•ncl••
ofexc*wgo njlha at dAI•.
17 YAx•th)
Yh• charbty th• l•lty Mt (#Jt in 1 SCI￿1￿18 6 of th• Fln•n¢e A<1
2010 ard ￿ft￿• It mo8t• lh• d•lknHth of ¥ o)rryriy ts UK ¢rrfpxatty t•x pJrpN•J.
tho c*arity IB P￿tt•￿ •x•mpt frryn t&¥•ts(m in r•ip8ct of irKJ)m• crf C￿rt#1 uains
¥￿in c*gcrn8 C(r￿•d ty ChaO•r 3 P•t 11 of ts C￿F￿a￿on Tu knt 2010 or Se(*'c¥i
256 01 fv Taxkni d Ctrffjrwtltr G•rN 1992, lo th that irKom or 9*ln• ar•
basbB d tsx rates and kn that h•V• boen er￿led or thè d•t• In
o)urkn'g1 groJp cyuate• a•t*ra*• Mlf>Y7)•.
10%
2.9 T*nglbl• flx•d •••o1• and thw•¢l•
p&M￿l k)M¢$. Al C￿1* Ixi)g a fixed aJa•t into Its ¥￿anded ￿thing
P￿21

NQTES TQ THE FIIIANCIAL STATEMENTS
FOR THE YEAR EIIDED 31 JULY 2025
A¢¢ounlry polldw {conlknu•dl
l• T•nglbl• Ilx•d ••••¢• •nd d•w•¢lth {¢¢nlln
D•w•¢wtiffi Is dwwl lo a• lo •lkul• tho c48t fyl fflx•d k*$ Ih•* m•ithJ&l trnlu
s)v8r th￿r 8stima1￿ us8ft51 IN0¥. aA •Ot out belrA¥
Pknt •n¢J mthrnry
15%
Ft<lur•s fjttwi
15%
Th• Mg•le' rn11¢k￿l val￿1. u••fid •nd d•pr•dkn m•th￿dI ￿ rewv•Md. •nd adjusted
2.101o)¥Mlnb*
Fu•d aB88t kN•glrrthts ￿ • ltym thjlwmenl •rvJ we mMl•lly r•cognl8ed •t thelr
wi8￿1**1 ¥rKI tiw¥¥wwl ¥t fwr ¥¥hJv •t lh• b•kn￿ •hoot d8t•. unl••i th•
v￿u8 e4nnol b• m••wr•d in it ￿ rn•0•4￿ 91 cut lo$1 fft￿M￿nt InvoBlmonl
glns •rvJ tr>•M•, rv*hsed or ￿eTA￿•1 ￿ 'G•inWIL¢wwg1
2.11 O•bt•rn
2.12 CA•h al bank WMI In h*
Cath at b￿k and kn h•rnl *thi•• ¢•*) ￿4￿j iTr4•#tm•nt• •l*)rt
mabjrlty of IMI the of &￿￿•1￿1 ol th• dep￿11 or •knHai
2.13 LI￿￿11111•
i•¥ull of e4Ynt. 11 l¥ prc4)at4e thai a b•r*fil *411 be xttlvrnert.
Lwbthtitil ar• r•wLq•d at Ihe Ihot lh• dwty witwAle• tt PAY to 80tt50 t￿ débt or
ihB effed ol th Iwne i¥ rnatsr1￿, the prov￿￿￿ 19 bgged wesent value ofthostr
amotsnls. ds¢oLmtthl at th• th"sc4YJrt r* refknts thg to Ihe 41a￿1rty. The
unwndlno ol tr* di￿￿jnI is coru4vJaled 8tal8rnwl of as •
fiTra￿ cost
P•J• 22

MOTES TO ThE FINANCIAL STATEMEIIT8
FOR THE YEAR ENDED 31 JULY 2026
2.14 O•fwr•d l•xadon
th• tifftn9 dNl•r•r£•• rv4￿.
119 Fln•nGthI In•lNmWt•
111 Fln•ne• l•MM and hlr• wwrl*••
I Iv••. AM•l• lin arn d•v•￿t•d tMrth•tr u••frJl Ihe8. F￿a￿l¥a
w• 41 d th• benDfits ii•k• ol (trnjhip ¥• a•8um*l ty Ihe Grow).
Qblig#iic•M ￿}der 8LK* agfwment• Ar• k) u•Jrtm. rwt rl thtr fiMnc• 4k¢ot•d to
hrture pw¥)J3. The finwtt ¢l•)wrt ol ￿ r•ni•l p•)Yn￿l 18 (*wged to tr• wilolpaatod $latem•nt
xlbAtlts to pwi'cth r* ol dw9B on thv net obligaUoD
t•l•nthrwJ pwod.
•traWt.lkn• bJ6N l••* 18m). w4e•s •y4tsm•lk b•gbs is of the tme
2.18 Pwwlon•
are in acJxua18 * • COnKA￿ed stslwneJ)t cl finan(yal ￿1￿(￿. T
pa￿ 23

NOTE8 TO THE FINANCIAL 8TATEMENT8
FOR THE Y£AR ENDED 31 JULY 2025
A¢¢ounllw p¢)Ilcl•• (Mnon
11• Fund
Totsl
fvnd•
2025
2026
Sa
Oth•r #K¥ffl•
4,310.408
150,0Tr)
4,310hQ8
Iso,000
4.4eo.408 4,410808
fur
2024
2024
4,474.046
4.474.046
TM srtbJl&xs' r•nxvw*M* *) Im *KIIty l•• 01 £17.2(Q (2024. Èlq2(kl.
Page 24

140TES TO THE F114AN¢IAL STATEMENT8
FOR T￿ YEAR ENDED 31 JULY 2026
Group
2026
Gm
2024
1,100NIO
131.609
.32•
1, 159, 147
141,999
2J.$87
Se<￿1 WLxthty co•ts
1.264247
1.324,727
Gffjlp
2024
2025
Group
2020
2024
In tho baTrJ £70.001 . £QO.000
In th• boThJ £120.001- £1>).(X)o
In th• boTrJ £180.ty)1- £1W,1￿0
m•mb•r8 of th• sen￿ M•no9em•rt Grw. of k•y m•rwgerrtht P￿￿￿1 l•x4￿jfi
rK8knaf cMtrW*xsl durty i•Ar 18 £410,23712024. £559.9721.
Pag8 25

IIOTES TO THE FIIIANCIAL STATEIIEMT8
FOR THE YEAR ENDED 31 JULY 2026
2024
Curront t*K ￿ ngt•MFwhSttft ftyW•
(39,250)
Tot•1 ¢uvr•ntt•x
(39,250)
D•f•n•d
I￿1￿j0)
Tatsl thf•rY•d l•x
140,0001
{46.0001
(39,250)
Th• tax abt•M•d fc* Iho IB IW lh￿ (2024. knvartt￿} thb r#e frfc4ypor*ion ￿ In th•
UK of 25%12024. 2YA). •¥¥** b•bv.
2026
2024
(527,WJ)
of 25% 12024. 25%)
Eff•Gl• •1:
11.162) 1137,8TO)
Snd impalnnwrt
29.428
63, f98
1IIAI21
l•x•t
17021
146.0001
D•f•rr•d Tax CrnL41
T¢Jt•l t•x ¢h•ry• lorlh• y
(39.2JOJ
Pag8 26

IIOTES TO THE FtIlANCIAL STATEIIENT8
FOR TME YEAR ENDED 31 JULY 2025
Goodwlll
Total
1 Augult 2024
Jg.n2
At 31 JLty 2026
3•.n2
11.141
112201
1 A44U•t 2CQ4
C￿￿9& for the yow
23.178
•377
69,500
16383
At 31 W2025
11,111
74,765
N•t b¢•ok v•1
At 31 Juty 202S
37.44S
Al31J￿ 2024
1¢554
17,708
Ihe ¢ouw *ASh¥Atth wh)d 012 k> 8 y4•1. u￿￿ t￿ V8lhYatiN4 uN￿rI￿Y 8rKI the
Pago 27

li"

IIOTE8 TO TrIE F114ANCIAL STATEMENTS
FOR THE YEAR ENOED 31 JULY 202S
10. Flx•d ••14t Inv••tywts
In
8ul*ldlary
¢OW4i•nl••
Co•1 or vihMtl•n
At 1 Awt 2024
11.183
At 31 2025
11,183
X31W2023
11.103
Af 31 Jthy 2024
11,183
Prfft¢lp•l •ub•ldl•rl••
Cryry Pth4b•l ¢l••• d HoldkbA In¢lud•d In
numb•r
•r••
¢on•olkl•tlon
lrtom• ExpndlluTr Lo•• for th•
yNr
4A74016
4•62.292
14743
Page 29

THE 8RItM7ET E8PIIW MEMoR￿TRUST
IIOTE3 TO THE FIIIANCIAL STATEIIENTS
FOR THE YEAR ENDEO 31 JULY 2Q26
11.
2021
2026
2024
Du• ¥Athln 4)n• >
Trath d￿•
Other dètrtors
1248,n8 4OWJ.WY
724.6IAI
1.413.489
241414
3.013
07
43.011
118&7JO
4.309.965
07
2tr24
4•,961
41851
4579
4,303
136,100
233, 110
1113.M• 1243.L
Other uoditor8
3.OS9,890 3.958,3T8
pr•Mrd aThJ fu￿r*,. • fft¥t as•do und•rt*iry b(th ar￿ fulur•.
Page 30

IIOTES TO THE FIMANCIAL STATEIIENTS
FOR THE YEAR EIIDED 31 JULY 2026
rpfOUP
20211
2024
11,217
184.228
22,a66
10¢350
202.616
129,216
14. D•f•vr•d l•x•tlon
Group Ind ¢h•rfty
2026
At th• b•JifflirvJ ol
Charg• lor th•
146.0001
Tha defmd l•x ll ￿￿￿• w) a• frlk**&'
Gr•
2025
2024
(90,GQO)
Po90 31

IIOTES TO THE FIIIANCIAL 8TATEIIENf8
FOR THE YEAR ENDED 31 JULY 2028
16. St•{M￿nI olfimd•
8•kn¢• •t1
UnY••trki•dfvnd•
44•0.4(W (Wfj,0141 M6360
G•w•b
72J
R••lrthl Fund
Totsl olfundB
12fj.017 4410.4IX (V8Vf41
CO￿rA1 FsJnd¢
1.313, 11 7
4.474.04e (&IX)I.J19J
824.864
R••trWd
7?3
Totsl ol
1.311010
4.474.048 {4￿1,5￿9)
39,25)
825,
P•38 32

OTE8 TO THE FINANCIAL 8TATEMENT8
FOR THE YEAR ENDED 31 JULY 2026
16. 8thnm•ry offund•
B￿ne9 It i
2024 *Kom• Exp•nkn T•Mtlon 31 J* 2025
4VIOO 806,251
5.087 4OOD,4fj1 14M•S.014
8M,981
8unwMry allwd•- pvlryy4•r
IA
E¥pwKkn Taxokn 31 J&y 2024
1.311117
4474.016 I4￿1,519)
39.2
824,884
723
1,311840
4,474.046 1&001.549)
39,2
824587
17.
Tot•1
nd•
2025
nd•
2026
fund•
2028
nx•d ajeets
403,861
403.861
37.445
37,445
3,741.065
3.741.7BI
13,069,598} I3.008.6￿)
1202,6151
144,DXI
Cwrnnt w8•18
723
Crediicn thJ• h ft¥Ne tr￿n
Prv4*iM8 for •ThJ
144.0001
Tolal
r23
886,258
880.981
Pa￿ 33

NOTES TO TME FINANCIAL STATEIAEIIT8
FOR THE YEAR ENOEO 31 JULY 2026
17. of n•t••••t• b•tw••n fiwmts l¢ontknts•dl
2024
2024
2024
202tl
487.93S
17.708
In￿ghb1* fixod ••••ts
17. 108
Current a￿￿15
Crndltofs *llhln fft y
723
4,457,015
4.457.738
(3.SX17,078) 13,958.578)
{180,71fj)
(129,216)
),￿%)1
151.XVJ
51.
Yot•i
r23
824.864
25.587
Gm
2024
2026
M¥•i)
41.394
(488,253)
141.N
16.28LI
1,207.238
1843.7111
252,327
22,041
1278,6171
366, 766
3.573
&335
{39.250)
Inter￿t￿￿1
Cwatlon
Taxatirm clmrge
146.000)
616.437
1153.079J
Paqtr 34

THE BRIDt3ET E8PIIIO8A MEXWAL TRUST
MOTES TO THE FIIIANCIAL STATEAIE1￿s
FOR THE YEAR ENDEO 31 JULY 2026
Group
2026
Grcw
2024
107,773
Total •nd ¢••h •Wthr
107,773
A￿1￿11 ol¢hry• kn n•¢ d•bt
At 1
At Jl July
202
2024 G••th Ilo
107.7n
401218
4J03
069m8
f12,806)
10.8￿ 456.618
631,192
r•w•Mrt• pwbl• ty th• woup the •r#J to £23.328 12024 . É23.5811.
CentrbJtkn¥ totaliTrJ £5,973 (2024 . £6.4021 pwbl• b) tho Iw)d •t th• r•prrtng d•t* and aro
At 31 Juty 202S th• GffAV aThl Iho dwty tr¥d b) mAk• th￿1• mThnwn 1•8•• paJm•*•
Group
2025
Gmt
202
l*rth8n1
Later 1 yew aThl IAIEr kn 5 )Y•w¥
P•3e 35

IK+TE8 TO THE FINA14CIAL STATEMENTS
FOR THE YEAR ENDeD 31 JULY 2025
At the ￿r wld. £883.342 (2024. £1.407.8221 wa• YK*Jd*l d•tkni kn r¥laIK￿ to Iranc• f•¢* f
tr• use of 1rt41g¢*Jo1 wop&tr th• Lth¢kn SknK*lo Centr•'8
A9 •t 31 Juty 2025, LorKknn Lknll•d £MI W124.. £3.112) *> E•plno
Th•r• *Aw• dtvvs £2.207 (2024.. £8,189) rdatkng kj the dlrec
and £l,528120Z4'. £4.6811 f*l*roJ to (• m•mb•r rf tho M￿ag￿m*￿ Group, th•
ContrnHln9 Wrty
Pag& 38