REGISTERED COMPANY NUMBER: 08410590 (England and Wales)

REGISTERED CHARITY NUMBER: 1151533

Report of the Trustees and

Financial Statements

for the Year Ended 31st December 2025

for

The White Horse Show Trust Limited

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

Notes to the Financial Statements

7

to

10

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 31st 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 White Horse Show is an outdoor event held over two days of the August public holiday. The company shall hold the income of The White Horse Show and any other income or property received, for general charitable purposes for the benefit of the inhabitants of the four parishes of Uffington, Baulking, Woolstone and Kingston Lisle. The trustees feel that the annual accounts demonstrate their ongoing support of worthy community projects.

Grantmaking

The Show Trust Awards committee can only award grants to groups and charities on their own behalf and not to third parties. The company does not fully fund projects unless exceptional circumstances exist. All applicants need to provide evidence of "self help".

Applications are to be forwarded to the White Horse Show Trust "Awards Committee" and should include details of the project aims and objectives.

ACHIEVEMENTS AND PERFORMANCE

Fundraising activities

The 2025 White Horse Show generated income of £68,398 (2024: £65,728) and associated expenditure was £54,238 (2024: £51,757) resulting in a net surplus of £14,160 (2024: £13,971).

The range of attractions continues to evolve thus ensuring an appealing mix of events. The feedback from attendees was again very positive. And as last year, much effort was made to keep control of costs.

On behalf of the Trust, we express our continuing thanks to the Organising Committee and all those involved in bringing together a successful and much enjoyed event.

FINANCIAL REVIEW

Principal funding sources

The principal funding source of the company is The White Horse Show.

Reserves policy

It is the policy of the trustees to maintain sufficient reserves for two purposes. The first is to facilitate pre-Show operational expenditure and to act as a buffer against any unexpected calls on reserves should the Show need to be cancelled at the last minute or turnout is poor, perhaps due to the weather. The second is to retain funds to fulfil our charitable objectives and to satisfy any urgent applications which may be received.

The trustees are very aware of the hard work undertaken by the Organising Committee and all those involved in raising these monies and therefore intend to continue to act with all due diligence.

FUTURE PLANS

The company plans to continue its principal activities for the foreseeable future.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The White Horse Show Trust was originally established on 18th November 1981 and the salient points of "The 1981 Trust Deed" have been incorporated into the Memorandum and Articles of Association of the company.

Recruitment and appointment of new trustees

The show relies on volunteers to organise and run it. The company places adverts in local papers to encourage those interested in volunteering to contact the Show Secretary. Trustees are appointed for a term of three years by resolution and the term of office will terminate automatically on the third anniversary of appointment but trustees can be re-appointed.

Risk management

The trustees have identified and reviewed the risks to which the charity is exposed and have appropriate controls in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

08410590 (England and Wales)

Registered Charity number

1151533

Registered office

Thomas Hughes Memorial Hall

White Horse

Uffington

Faringdon

Oxfordshire

SN7 7SE

Trustees

E C Preece

P Whitfield

T J J Swash (resigned 16.3.25)

C N R Skeat

G F Ward

B M Artus

A R Ashcroft (appointed 16.3.25)

Independent Examiner

V E Cowling

Martin and Company

38 Dollar Street

Cirencester

Gloucestershire

GL7 2AN

Bankers

Barclays Bank Plc

28 Market Place

Cirencester

Gloucestershire

GL7 2NP

Accountants

Martin and Company

38 Dollar Street

Cirencester

Gloucestershire

GL7 2AN

PUBLIC BENEFIT

The trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.

LEGAL STATUS OF THE CHARITY AND LIABILITY OF MEMBERS

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding-up is limited to a sum not exceeding £1.

Approved by order of the board of trustees on 8th July 2026 and signed on its behalf by:

G F Ward - Trustee

Independent examiner's report to the trustees of The White Horse Show Trust Limited ('the Company')

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

V E Cowling

The Institute of Chartered Accountants in England and Wales

Martin and Company

38 Dollar Street

Cirencester

Gloucestershire

GL7 2AN

14th July 2026

2025

2024

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Other trading activities

2

68,398

65,728

Investment income

3

3,804

4,346

Total

72,202

70,074

EXPENDITURE ON

Raising funds

4

54,238

51,757

Charitable activities

Grants and donations

4,655

30,942

Support costs

1,295

1,378

Total

60,188

84,077

Net gains on investments

4,324

4,610

NET INCOME/(EXPENDITURE)

16,338

(9,393

)

RECONCILIATION OF FUNDS

Total funds brought forward

165,847

175,240

TOTAL FUNDS CARRIED FORWARD

182,185

165,847

2025

2024

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Investments

7

28,859

22,135

CURRENT ASSETS

Cash at bank

154,316

144,702

CREDITORS

Amounts falling due within one year

8

(990

)

(990

)

NET CURRENT ASSETS

153,326

143,712

TOTAL ASSETS LESS CURRENT LIABILITIES

182,185

165,847

NET ASSETS

182,185

165,847

FUNDS

Unrestricted funds

182,185

165,847

TOTAL FUNDS

182,185

165,847

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 8th July 2026 and were signed on its behalf by:

G F Ward - 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.

Critical accounting judgements and key sources of estimation uncertainty

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

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.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure heading based on the proportion of time spent on each of these areas of work.

Grants payable are charged to the statement of financial activities in full when approved by the trustees and communicated to the recipient. Grants awarded but unpaid at the balance sheet date are recognised as grant commitments within creditors. Grants cancelled or repaid in the year are credited to the statement of financial activities. Charitable activities include support costs associated with grants payable.

Taxation

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

Fund accounting

The charity maintains one type of fund being general unrestricted funds that represents income that is expendable at the discretion of the trustees in furtherance of the objects of the charity.

Investments

Investments held as fixed assets are revalued at quoted market price at the balance sheet date. The gain or loss for the period is taken to the statement of financial activities.

Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

2.	OTHER TRADING ACTIVITIES

2025

2024

£

£

Gate receipts

53,488

51,765

Franchise income

4,484

6,221

Rent from trade stands

6,330

5,320

Country pursuits

3,889

2,422

Other income

207

-

68,398

65,728

3.	INVESTMENT INCOME

2025

2024

£

£

Deposit account interest

3,804

4,346

4.	RAISING FUNDS

Other trading activities

2025

2024

£

£

Field costs

28,889

25,630

Arena events

13,240

11,000

Non-arena events

5,245

5,322

Country pursuits

1,231

1,439

Historic vehicles

381

1,201

Other costs

2,215

2,411

Website

1,008

2,630

Marketing and promotion

174

788

Point of sale costs

1,855

1,336

54,238

51,757

5.	GRANTS PAYABLE

2025

2024

£

£

Grants and donations

4,655

30,942

The total grants paid to institutions during the year was as follows:

2025

2024

£

£

Uffington Sports & Social Club

-

2,000

Uffington Primary School

2,975

550

Thomas Hughes Memorial Hall Community Association

105

6,867

Uffington Parish Council

-

7,000

Wantage Silver Band

200

200

Uffington Museum Trust

500

-

Saunders Foundation

-

250

UBW Minibus Association

-

10,000

Uffington Table Tennis Club

-

975

Uffington Lawn Tennis Club

775

3,100

John Little Award

100

-

4,655

30,942

6.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st December 2025 nor for the year ended 31st December 2024.

Trustees' expenses

During the year, one trustee was reimbursed for costs relating to trading activities. The total amount reimbursed was £158.

7.	FIXED ASSET INVESTMENTS

Listed

investments

£

MARKET VALUE

At 1st January 2025

22,135

Additions

2,400

Revaluations

4,324

At 31st December 2025

28,859

NET BOOK VALUE

At 31st December 2025

28,859

At 31st December 2024

22,135

The listed investment is composed entirely of shares in the Legal & General Global 100 Index fund. The objective of this fund is to provide growth by tracking the performance of the S&P Global 100 Index. The constituent investments are located both within and outside the UK.

Cost or valuation at 31st December 2025 is represented by:

Listed

investments

£

Valuation in 2019

77

Valuation in 2020

492

Valuation in 2021

1,388

Valuation in 2022

(337

)

Valuation in 2023

2,205

Valuation in 2024

4,610

Valuation in 2025

4,324

Cost

16,100

28,859

8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Accruals and deferred income

990

990

9.	RELATED PARTY DISCLOSURES

Due to the nature of the charity's operations and composition of the trustees, it is inevitable that transactions will take place with organisations and individuals in which a trustee or person connected to them may have an interest. Trustees do not vote on any decision made regarding grants payable to organisations or individuals in which they have an interest.

G F Ward is also a trustee of both the Thomas Hughes Memorial Hall Community Association and the Uffington Museum Trust. During the year, the charity made grants of £105 and £500 respectively to the same.