REGISTERED COMPANY NUMBER: 02425166 (England and Wales)

REGISTERED CHARITY NUMBER: 702068

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Pewterspear Green Trust Limited

Page

Report of the Trustees

1

to

5

Independent Examiner's Report

6

Statement of Financial Activities

7

Balance Sheet

8

to

9

Notes to the Financial Statements

10

to

17

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives of the Charitable Trust are to provide and maintain land within the area known as Pewterspear Green as a wildlife habitat and open space, for the recreational use and leisure-time occupation of the public areas by, in particular, the inhabitants of the Parishes of Stretton and Appleton with the objective of improving their wellbeing.

In setting our objectives and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit and fee-charging.

Significant activities

The Company was formed to maintain certain open space in Pewterspear Green, Warrington for the benefit of the public generally. The land consisting of around 18.2 hectares, was owned by Homes England (formerly English Partnerships and Home & Communities Agency) and a licence to occupy the land was granted with effect from 31st March 1995.

In February 2009 the Trust took ownership of 11.83 hectares of the land and it is anticipated that Homes England will transfer the remaining 6.37 hectares to the Trust in due course.

The open space has been developed over the years and includes several football pitches. These are used by the local junior football club and form part of the overall provision of sports pitches identified by Sport England & Warrington Borough Council.

The Sports Pavilion is owned by the Trust and was built in 1999 with the assistance of a grant provided by the National Lottery and Sport England. The building was extensively refurbished in late 2021 and during 2025 new double glazing was installed together with major improvements to the toilet facilities.

Part of the pavilion is let to a provider of Pilates services and in 2024 a takeaway coffee shop was opened in what was formerly unused space in the building and this has become very popular within the local community.

Public benefit

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

During the year, the Trust has undertaken the following activities in accordance with its stated objectives and activities:

1. Maintenance of Parkland

The parkland areas continue to be maintained to a good standard in accordance with the landscape management plan, overseen by a suitably qualified contractor and managed by an independent horticultural consultant. The maintenance contract was subject to commercial tender and runs for a term of 7 years until December 2026.

In addition to the routine activities, the trustees authorised exceptional expenditure to remove dead or storm- damaged trees. Safety improvement works were undertaken around 1 of the ponds and the stone footpath behind the pavilion was resurfaced with a bitumen finish during the summer.

The costs involved in maintaining the parkland to the current standard and refurbishing the estate infrastructure continue to rise and will become an increasing concern. The next tender exercise is due in 2026, and the scope of works will be closely reviewed to identify possible scope for costs reductions.

2. Outdoor Sporting Facilities

The Trust has continued to provide excellent grass pitches for junior football which are used exclusively by a local club, Appleton AFC under a 10-year agreement signed in 2023.

3. Sports Pavilion Redevelopment

The tenancy agreement with TPARA to occupy part of the Pavilion has operated smoothly and formal discussions regarding a potential extension to their lease are expected to commence next year.

The Coffee Shop has proved to be a popular community venue for residents and visitors to the parkland and is looking to expand its business in 2026.

The Trust has undertaken further investment in the premises by commissioning significant works to improve the toilets and increase energy efficiency within the building.

4. Financial Management

The trustees and their financial advisors continue to exercise care and diligence in the financial management of the Trust's investment portfolio. They recognise that the recent capital expenditure made in the parkland infrastructure has been necessary but has also adversely affected reserves.

Such expenditure will continue to be required and to mitigate the impact, the Trust will establish a sinking fund within the portfolio and set aside funds to cover anticipated future requirements

The endowment fund value has stayed constant, and the Trust remains in a strong financial position, even though the income from investments has been insufficient to cover operating costs.

Positive action has been taken to reduce the costs of sports provision and the rental income from the pavilion is making an increasing financial contribution.

However, the trustees acknowledge that further measures will be necessary in the longer term and will engage with key stakeholders to discuss the options available at the appropriate time

FINANCIAL REVIEW

Financial position

The charity has improved its income from the use of the pavilion and sports facilities and covers the rest of its operating costs with a mix of investment income and capital gains arising from the endowment fund. The charity generated a surplus in the year of £26,546 (2024: £17,128 deficit).

As noted elsewhere, the trustees are aware of the long term impact of rising operating costs and ongoing infrastructure works and a comprehensive review of its activities is underway with the aim of reducing costs and identifying other potential sources of income.

Principal funding sources

The income of the charity is derived from investments it holds and the usage of the charity's facilities by 3rd parties.

Investment policy and objectives

The trustees have adopted a balanced, medium risk, investment strategy.

The portfolio is managed by specialist advisors. The current strategy is still considered to be the most appropriate for a charitable business even though it is currently unable to generate sufficient income to cover costs & deliver long-term capital growth.

Reserves policy

The Trust has been endowed with funds for the maintenance of land at Pewterspear Green, Stretton, Warrington from 31st March 1995. The endowment and all interest and other earnings accrued thereon, are applied to the maintenance and management of the land in compliance with the provisions of a signed agreement.

The Trust was originally required to maintain a restricted fund within the endowment for a period of twenty years with a minimum value of£1,250,000. This obligation expired in 2015, but the trustees have agreed that a similar restriction should be applied internally until further notice, which can only be varied or removed by formal Board resolution.

Going concern

The Trust continues to deliver its objectives and remains a going concern.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The company was formed under Articles of Association, which established the objects and powers of the charity and its governance. Under those Articles, the members of the Management Committee are appointed as follows.

The Parish Council for Appleton, the Parish Council for Stretton and the Parochial Church Council of the Ecclesiastical Parish of St Matthews, Stretton each appoint 1 elected and 1 nominated member annually and there are currently 2 vacancies.

Additionally, there are currently 8 co-opted members acting on behalf of residents and there is no upper limit to their number.

All trustees act on a voluntary basis.

Induction and training of new trustees

Serving committee members and new members are given relevant information about the Trust and the duties of members/trustees.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

02425166 (England and Wales)

Registered Charity number

702068

Registered office

8 Winmarleigh Street

Warrington

Cheshire

WA1 1JW

Trustees

A G Lyons

P Pegum Stretton Parish Council (resigned 15.5.25)

Dr R T Johnson St Matthews, Stretton PCC

R J Hartland

A D J Jewell St Matthews, Stretton PCC (resigned 8.1.26)

Cllr J C Wheeler Appleton Parish Council

D J Buckley

T L Warburton Residents' Representative

L R Panes Residents' Representative

C J Truscott Residents' Representative

C Parry Residents' Representative (resigned 15.5.25)

Dr P C Iles-Smith

D F Wakefield Residents' Representative

Mrs K J Murray Residents' Representative (appointed 19.5.25)

R J Adam (appointed 1.2.26)

The above is a list of trustees and the organisations they represent

Key management personnel:

D J Buckley, Chairman

A G Lyons, General Manager

R J Hartland, Chair, Finance sub committee

Dr. P Iles-Smith Chair, Health and safety sub committee

Company Secretary

A G Lyons

Independent Examiner

Voisey & Co LLP

Chartered Accountants

8 Winmarleigh Street

Warrington

Cheshire

WA1 1JW

Solicitors

Taylor Rose MW, 5 Palmyra Square, Warrington, WA1 1BZ.

Advisers

Bankers:- NatWest plc, 23 Sankey Street, Warrington, WA1 1XH

Wealth Managers:- Evelyn Partners, Royal Liver Building, Pier Head, Liverpool, L3 1NY.

Approved by order of the board of trustees on 2 June 2026 and signed on its behalf by:

D J Buckley - Trustee

Independent examiner's report to the trustees of Pewterspear Green Trust Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Janine Boyo FCA BFP FMAAT

Voisey & Co LLP

Chartered Accountants

8 Winmarleigh Street

Warrington

Cheshire

WA1 1JW

2 June 2026

31.12.25

31.12.24

Unrestricted

Restricted

Total

Total

funds

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Charitable activities

Landscape and sport

57,125

-

57,125

36,325

Investment income

2

30,138

-

30,138

31,721

Total

87,263

-

87,263

68,046

EXPENDITURE ON

Raising funds

3

10,245

-

10,245

10,909

Charitable activities

Landscape and sport

205,793

-

205,793

193,619

Total

216,038

-

216,038

204,528

Net gains on investments

155,321

-

155,321

119,354

NET INCOME/(EXPENDITURE)

26,546

-

26,546

(17,128

)

RECONCILIATION OF FUNDS

Total funds brought forward

406,991

1,796,639

2,203,630

2,220,758

TOTAL FUNDS CARRIED FORWARD

433,537

1,796,639

2,230,176

2,203,630

31.12.25

31.12.24

Unrestricted

Restricted

Total

Total

funds

fund

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

7

234,909

-

234,909

258,825

Investments

8

188,343

1,796,639

1,984,982

1,946,970

423,252

1,796,639

2,219,891

2,205,795

CURRENT ASSETS

Debtors

9

2,594

-

2,594

3,220

Cash at bank and in hand

26,545

-

26,545

15,232

29,139

-

29,139

18,452

CREDITORS

Amounts falling due within one year

10

(18,854

)

-

(18,854

)

(20,617

)

NET CURRENT ASSETS

10,285

-

10,285

(2,165

)

TOTAL ASSETS LESS CURRENT LIABILITIES

433,537

1,796,639

2,230,176

2,203,630

NET ASSETS

433,537

1,796,639

2,230,176

2,203,630

FUNDS

11

Unrestricted funds

433,537

406,991

Restricted funds

1,796,639

1,796,639

TOTAL FUNDS

2,230,176

2,203,630

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 2 June 2026 and were signed on its behalf by:

D J Buckley - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The trustees consider that there are no material uncertainties about the the Charity's ability to continue as a going concern. With respect to the next reporting period, 2026, the most significant areas of uncertainty that affect the carrying value of assets held by the Trust are the level on investment return and the performance of investment markets.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Donations are recognised when the Trust has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Legacy gifts are recognised on a case by case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investment portfolio.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Raising funds

The costs of generating funds consist of investment management costs and certain legal fees.

Charitable activities

Costs of charitable activities include governance costs and an apportionment of support costs.

Governance costs

Governance costs include external independent examination fees.

Allocation and apportionment of costs

See above expenditure policy.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Pavilion

-

4% on cost and Straight line over 30 years

Ground Improvements

-

10% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The Trust does not acquire put options, derivatives or other complex financial instruments. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

Irrecoverable VAT

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2.	INVESTMENT INCOME

31.12.25

31.12.24

£

£

Other fixed asset investments

30,138

31,721

3.	RAISING FUNDS

Investment management costs

31.12.25

31.12.24

£

£

Portfolio management

10,245

10,909

4.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.12.25

31.12.24

£

£

Depreciation - owned assets

23,916

23,916

Independent examination

1,811

1,732

5.	TRUSTEES' REMUNERATION AND BENEFITS

31.12.25

31.12.24

£

£

Trustees' salaries

12,000

12,000

Trustees' social security

1,400

-

13,400

12,000

Mr A G Lyons is the operations manager for which he receives an annual salary of £12,000 pa. No other Trustee salaries or expenses were paid in the year.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.

6.	STAFF COSTS

The average monthly number of employees during the year was as follows:

31.12.25

31.12.24

Administration

1

1

No employees received emoluments in excess of £60,000.

7.	TANGIBLE FIXED ASSETS

Ground

Pavilion

Improvements

Totals

£

£

£

COST

At 1 January 2025 and 31 December 2025

674,285

39,395

713,680

DEPRECIATION

At 1 January 2025

415,460

39,395

454,855

Charge for year

23,916

-

23,916

At 31 December 2025

439,376

39,395

478,771

NET BOOK VALUE

At 31 December 2025

234,909

-

234,909

At 31 December 2024

258,825

-

258,825

8.	FIXED ASSET INVESTMENTS

Listed

investments

£

MARKET VALUE

At 1 January 2025

1,946,970

Additions

478,270

Disposals

(656,316

)

Revaluations

216,058

At 31 December 2025

1,984,982

NET BOOK VALUE

At 31 December 2025

1,984,982

At 31 December 2024

1,946,970

Investments at fair value comprised:

31.12.25

31.12.24

£

£

Equities

1,939,487

1,906,860

Fixed interest securities

45,495

40,110

1,984,982

1,946,970

The value of the investments are stated at their market rate. The gain or loss being recognised in the Statement of Financial Activities each year.

9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

640

360

Other debtors

-

400

Income tax and VAT recoverable

1,238

1,862

Prepayments

716

598

2,594

3,220

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

9,331

11,811

Accrued expenses

9,523

8,806

18,854

20,617

Included within accrued expenses is deferred income. Deferred income comprises of a rental bond repayable at the end of the rental period.

31.12.25

£

Balance as at 1st January 2025

3,750

Amount released to income earned from charitable activities

-

Amount deferred in year

-

Balance as at 31st December 2025

3,750

11.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.25

in funds

31.12.25

£

£

£

Unrestricted funds

Endowment fund

406,991

26,546

433,537

Restricted funds

Restricted fund

1,796,639

-

1,796,639

TOTAL FUNDS

2,203,630

26,546

2,230,176

Net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

Endowment fund

87,263

(216,038

)

155,321

26,546

TOTAL FUNDS

87,263

(216,038

)

155,321

26,546

Comparatives for movement in funds

Net

movement

At

At 1.1.24

in funds

31.12.24

£

£

£

Unrestricted funds

Endowment fund

424,119

(17,128

)

406,991

Restricted funds

Restricted fund

1,796,639

-

1,796,639

TOTAL FUNDS

2,220,758

(17,128

)

2,203,630

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

Endowment fund

68,046

(204,528

)

119,354

(17,128

)

TOTAL FUNDS

68,046

(204,528

)

119,354

(17,128

)

In March 1995 the Trust was endowed with funds for the maintenance of specified land at Pewterspear Green, Stretton, Warrington and all interest and other earnings accrued on these funds are to be used to cover the costs of the maintenance and management of the land in accordance with provisions contained in the signed Landscape Management Plan.

The Trust was obliged to maintain a minimum of £1,250,000 in a restricted fund for a period of twenty years from the date of the signed agreement. This obligation has been fulfilled but the trustees have determined that this requirement to maintain this fund should be adopted as an internal policy until further notice.

12.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2025.

13.	KEY MANAGEMENT PERSONNEL

The key management personnel are listed in the trustees report. The total employment benefits including employer pension contributions and employers national insurance of the key management personnel were £12,000.

14.

FUNDS

Restricted Endowment Funds are funds which must be used to provide income for the maintenance and management of the specified land at Pewterspear Green. The value of these funds must not fall below £1,250,000.

Unrestricted Endowment Funds are other assets and funds that are held and which are be used to provide additional income to the Trust to support the objects of the charity. Any capital gains or losses on investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund.

15.	MEMBERS LIABILITIES

The charity does not have share capital and is limited by guarantee. In the event of the charity being wound up the maximum amount each member is liable to contribute is £1. The trustees are the members.