The Abbottswood Fund - Charities report

REGISTERED COMPANY NUMBER: 10470041 (England and Wales)

REGISTERED CHARITY NUMBER: 1170758

Report of the Trustees and

Financial Statements for the Year Ended 31st December 2025

for

The Abbottswood Fund

Page

Reference and Administrative Details

1

Report of the Trustees

2

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

Notes to the Financial Statements

7

to

12

TRUSTEES

Dr F J Borchardt

Mr D J Cave

Dr C Embley

Dr P M Evans

Mr M A Jones

REGISTERED OFFICE

Abbottswood Medical Centre

Defford Road

Pershore

WR10 1HZ

REGISTERED COMPANY NUMBER

10470041 (England and Wales)

REGISTERED CHARITY NUMBER

1170758

INDEPENDENT EXAMINER

The Richards Sandy Partnership

Thorneloe House

25 Barbourne Road

Worcester

Worcestershire

WR1 1RU

INVESTMENT MANAGERS

Rathbones Group Plc

30 Gresham Street

London

EC2V 7QN

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 objects of the Charity are to preserve and protect the health of patients of the medical practice known as Abbottswood Medical Centre (and any successor medical practice or partnership) and such other sections of the public as the trustees may in their absolute discretion and from time to time select, including by providing and assisting in the provision of facilities, support services, equipment and the education and training of doctors, nurses, other members of staff of the Abbottswood Medical Centre, other health professionals, students pursuing (or wish to pursue) a career in public health and others involved in public health which are not normally provided by the statutory authorities.

Public benefit

The trustees confirm that The Abbottswood Fund has complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to guidance on public benefit when reviewing the aims and objectives and in planning future activities.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

Support for our charitable activities has again been greatly helped by another year of excellent performance of our fund assets. This is due to the excellent advice and management from our financial advisors. This has allowed the charity to continue to support Mindfulness and Singing for Health classes for patients. We have also contributed to the Wick Care Farm Project and St Andrews Gardens.

We have continued to support individual staff development especially training for staff members and Partners. The team educational events have been most successful and well-supported and we were glad to fund administrative and back-fill costs for these. Finally, further we are proud to have facilitated improvements to the practice premises for the benefit of both patients and staff.

FINANCIAL REVIEW

Financial position

At the year end, restricted funds represent the entire fund balance of £977,106 (2024: £980,595). Of this balance £959,434 (2024: £956,115) is held in investments.

Investment policy

The trustees have agreed that the funds should be held as a long-term investment under the management of Rathbones Group plc. Dividends received were reinvested during the year, and at the year end the value of the investment was £959,434 (2024: £956,115) following net gains on revaluation of £80,050 (2024: net gains of £63,158), and net sales of £76,731 (2024: net sales of £29,580).

Reserves policy

The charity holds investments totalling £959,434 (2024: £956,115) for the purpose of generating investment income used to fund the activities of the charity. Because of the volatility in the value of investments the charity has not set formal limits on the amounts to be held in such investments.

Total reserves at the year end are £977,106 (2024: £980,595) are entirely restricted as per the donor's wishes.

The trustees consider the reserves of the charity to be satisfactory.

FUTURE PLANS

The charity aims to continue to fund a mindfulness and singing-for-health project to support patients as well as promoting education support to all staff.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

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

Recruitment and appointment of new trustees

The trustees of The Abbottswood Fund are appointed either through election at the Annual General Meeting or by co-option by the existing trustees at their meetings in the year. New trustees are given an induction which explains their legal obligations under charity and company law and their proposed role in the charity.

The partners in Abbottswood Medical Centre shall appoint up to 2 of their number (or any other person selected by such partners) as Trustees of the charity. The Board of Trustees shall appoint up to 3 Trustees who shall not be partners in Abbottswood Medical Centre (or people who are connected with such partners).

Organisational structure

The trustees delegate day-to-day management to Helen Perry, who is the practice manager of Abbottswood Medical Centre.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The major risks have been reviewed and systems or procedures have been established to manage those risks.

The report has been prepared having taken advantage of the small companies exemption in the Companies Act 2006.

Approved by order of the board of trustees on 5th October 2026 and signed on its behalf by:

Dr F J Borchardt - Trustee

Independent examiner's report to the trustees of The Abbottswood Fund ('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.

Melissa Godwin ACA ACCA

The Richards Sandy Partnership

Thorneloe House

25 Barbourne Road

Worcester

Worcestershire

WR1 1RU

19th October 2026

2025

2024

Unrestricted

Restricted

Total

fund

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Investment income

2

-

21,168

24,510

EXPENDITURE ON

Raising funds

Investment management costs

3

-

9,087

9,240

-

9,087

9,240

Charitable activities

4

Promoting health and wellbeing

-

95,620

36,483

Total

-

104,707

45,723

Net gains on investments

-

80,050

63,158

NET INCOME/(EXPENDITURE)

-

(3,489

)

(3,489

)

41,945

RECONCILIATION OF FUNDS

Total funds brought forward

-

980,595

938,650

TOTAL FUNDS CARRIED FORWARD

-

977,106

980,595

2025

2024

Unrestricted

Restricted

Total

fund

funds

Notes

£

FIXED ASSETS

Investments

11

-

959,434

956,115

CURRENT ASSETS

Debtors

12

-

4,429

1,769

Cash at bank

-

48,047

26,264

-

52,476

28,033

CREDITORS

Amounts falling due within one year

13

-

(34,804

)

(34,804

)

(3,553

)

NET CURRENT ASSETS

-

17,672

24,480

TOTAL ASSETS LESS CURRENT LIABILITIES

-

977,106

980,595

NET ASSETS

-

977,106

980,595

FUNDS

14

Restricted funds

977,106

980,595

TOTAL FUNDS

977,106

980,595

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 5th October 2026 and were signed on its behalf by:

Dr F J Borchardt - 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 financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.

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.

Interest income (including interest receivable on fixed interest listed investment bonds) is recognised for all interest-bearing instruments on an accrual basis. Dividends are recognised in the income statement when they are declared.

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.

GRANT COSTS

A grant committed to is accrued when the recipient has been notified following the approval by the trustees and when the charity has established a constructive obligation. Where a grant has been offered subject to conditions in the control of the charity which have not been substantially met, the amount is noted as a commitment, but it is not accrued.

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.

FINANCIAL INSTRUMENTS

The charity has elected to apply the provisions of Section 11' Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the charity becomes party to contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic Financial Liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction.

LISTED INVESTMENTS

Quoted investments are included at fair value, being their market value. Realised gains and losses on sales of investments are calculated as sales proceeds less the market value at the start of the period, or cost if purchased during the period, and are included in the Statement of Financial Activities and Income and Expenditure Account. Unrealised gains and losses are included in the Statement of Financial Activities and the Statement of Total Recognised Gains and Losses. The reported net income or expenditure is adjusted for the realisation of prior period gains or losses on investments to arrive at the historical cost net income or expenditure for the period.

2.	INVESTMENT INCOME

2025

2024

£

Listed investment income

21,168

24,510

3.	INVESTMENT MANAGEMENT COSTS

2025

2024

£

Investment management fees

9,087

9,240

4.	CHARITABLE ACTIVITIES COSTS

Grant

funding of

Direct

activities

Support

Costs (see

(see note

costs (see

note 5)

6)

note 7)

Totals

£

Promoting health and wellbeing

24,377

69,131

2,112

95,620

5.	DIRECT COSTS OF CHARITABLE ACTIVITIES

2025

2024

£

Abbottswood Staff Training

1,951

6,894

Mindfulness Course

10,292

13,103

Singing for Health

3,822

3,312

Abbottswood Teambuilding

-

2,926

Abbottswood Consultancy

6,876

-

Pershore Wellbeing Hub

1,100

3,300

Registrations

336

-

24,377

29,535

6.	GRANTS PAYABLE

2025

2024

£

Promoting health and wellbeing

69,131

5,055

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

2025

2024

£

Abbottswood Medical Centre

68,331

5,055

Pershore Town Council

800

-

69,131

5,055

In addition to the amounts above, the Trustees have committed to funding projects which are contingent on the outcome of future events. The total amount committed but not accrued as expenditure as at 31 December 2025 was £15,000 (2024: £Nil).

7.	SUPPORT COSTS

Governance

Management

Finance

costs

Totals

£

Promoting health and wellbeing

484

44

1,584

2,112

Support costs, included in the above, are as follows:

2025

2024

Promoting

health

and

Total

wellbeing

activities

£

Insurance

450

402

Sundries

34

Bank charges

44

17

Accountancy

1,584

1,440

2,112

1,893

8.	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

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

9.	STAFF COSTS

No staff were employed by the charity in either the current or previous years.

10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

£

INCOME AND ENDOWMENTS FROM

Investment income

-

24,510

EXPENDITURE ON

Raising funds

Investment management costs

-

9,240

-

9,240

Charitable activities

Promoting health and wellbeing

-

36,483

Total

-

45,723

Net gains on investments

-

63,158

NET INCOME

-

41,945

RECONCILIATION OF FUNDS

Total funds brought forward

-

938,650

TOTAL FUNDS CARRIED FORWARD

-

980,595

11.	FIXED ASSET INVESTMENTS

Listed

investments

£

MARKET VALUE

At 1st January 2025

956,115

Additions

79,667

Disposals

(156,398

)

Revaluations

80,050

At 31st December 2025

959,434

NET BOOK VALUE

At 31st December 2025

959,434

At 31st December 2024

956,115

12.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other debtors

-

552

Prepayments

4,429

1,217

4,429

1,769

13.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Grants payable

32,218

1,425

Accrued expenses

2,586

2,128

34,804

3,553

Grants committed to but not accrued at the year end are detailed in note 6.

14.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.25

in funds

31.12.25

£

Restricted funds

Health and wellbeing fund

980,595

(3,489

)

977,106

TOTAL FUNDS

980,595

(3,489

)

977,106

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

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

Restricted funds

Health and wellbeing fund

21,168

(104,707

)

80,050

(3,489

)

TOTAL FUNDS

21,168

(104,707

)

80,050

(3,489

)

Comparatives for movement in funds

Net

movement

At

At 1.1.24

in funds

31.12.24

£

Unrestricted fund

-

Restricted fund

Health and wellbeing fund

938,650

41,945

980,595

TOTAL FUNDS

938,650

41,945

980,595

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

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

Unrestricted fund

-

Restricted fund

Health and wellbeing fund

24,510

(45,723

)

63,158

41,945

TOTAL FUNDS

24,510

(45,723

)

63,158

41,945

The Health and Wellbeing fund exists to preserve and protect the health of the patients at the Abbottswood Medical Centre. The fund has arisen from the donation of £1,000,000 in 2017 from a patient of the practice and is to be spent on areas not normally funded by the statutory authorities such as the provision of facilities, support services, equipment and the education of staff.

15.	RELATED PARTY DISCLOSURES

Total grants issued by the charity to The Abbottswood Medical Centre in the year was £68,331 (2024: £5,055). This contribution included £30,180 (2024: £Nil) to cover the costs of a new door access system at the Abbottswood Medical Centre, £34,480 (2024: £5,055) towards staff costs and training, £2,760 (2024: £Nil) towards a mural, and £912 (2024: £Nil) towards the Wick Farm Project.

Abbottswood Medical Centre is the primary beneficiary of the charity. During the year the charity paid for training courses attended by staff of Abbottswood Medical Centre totalling £1,951 (2024: 6,894), a teambuilding event for £Nil (2024: £2,926), as well as a consultancy course attended by the partners of Abbottswood Medical Centre totalling £6,876 (2024: £Nil).

16.	INDEPENDENT EXAMINER FEES

During the year the independent examiner has charged £1,584 (2024: £1,440) for the independent examination.