COMPANY REGISTRATION NUMBER: 03523388 CHARITY REGISTRATION NUMBER: 1068549 The Nancy Oldfield Trust Limited Company Limited by Guarantee Unaudited financial statements 30 September 2025 The Nancy Oldfield Trust Limited Company Limited by Guarantee Financlal statements Year endod 30 September 2025 Paga Trustees, annual report lincorporaling the directors, report) Independent 8xaminerfs report to the Iruslees Slalemgnt gf linancAal activi118s (including income and expenditure account) Balance shoot 10 11 Slalemenl of cash flows 13 Notgs lo the finanryal stal8ments 14 The Nancy Oldfield Trust Limited Company Limited by Guarantee Trustees. annual report (Incorporating the directors. roport) Year ended 30 September 2025 Thè trustees. who are also tha dirèctors *or the purposes of company law, PTesent their report and the unaudited financial statements of the charity for tho year ended 30 Septembèr 2025. The financial stal8m8nls have been prepargd in accordance with the accounting policies sel out in notes lo the accounts and ¢omply with the charity's gov8ming document, the Charili$s Act 2011 and Companies Act 2006 and Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicabl8 in the UK and Republi¢ of I￿land PLFblished in Oclob8r 2019. R•f•rence and administratlvè d¥tall$ Rgglstered Charity name The Nancy Oldfield Trusl Limited Charity rnglstration number 1088549 Company r￿IStratIOn number 03523388 Princlpal offl¢¢ and registered Irstead Road office Noatishead Norwich NR12 8BJ The trustees The trustees who served duiing Ihp year and al the dale of approval were as follows= D Lennard-Jonès (Chairl Mrs V Khambatta (Vice Chairl S 5 Georg$ (Company Secretary and Treasurer) J Ash (resignèd 20 January 20251 J Copping Mrs D F Harbor P M Hawes Ms H James S Smith The Nancy Oldfield Trust Limited Company Llmlted by Guarantee Trustees. annual report (In¢orporating the directors. report) (continued) Year ended 30 September 2025 Cgntro Managgr K Jaryis Fundraising eonsultants Felton Fundraising and Appeals 91 Eastgate Street North Elmham Dereham Norfolk NR20 SHE Independent •xamlner ark Proctor FCA DChA Lovewell Blake LLP Chartered accounlanls Bankside 300 Peachman Way Broadland Business Park Norwich NR7 OLB Solicitors Leathes Prior 74 The Close Norwich Norfolk NR14DR Stockbroker5 Barratl & Cook& Limilgd 516 Opi8 Slrget Nurwich Norfolk NR13DW The Nancy Oldfield Trust Limited Company Limited by Guarantee Trustees, annual report (incorporating the directors. report) (¢onlinyed) Year ended 30 September 2025 Objectives and activities Princlpal obj•¢tivo5 The Trust exists to provide the opportunity and facilities for anyone who is disadvantaged in any way, or who has any form of disability, lo experience and enjoy a variety of waler-based activities afloat on the Nortolk Broads. Fully accessiblg self-calering accommodation ashore enables individL¢als and their holpers lo participate on either a resid8nli81 or daily basis. Our staff a￿ experienced in providing acliviti8s for people with p8rticular needs and hold the necessary qiJalilic8tiotss relevant lo lo their dulles. A team of 65 volunteers work with the staff to lead and support motor boating, sailing, canDeing, paddleboarding and pedal boating and facililale th6 gnjoymgnt of the 8roads natural environment for our visitors in a safe, friondly and empalhelic way. The Trust owns its reception bulldlng, workshop and self-¢at$ring bun9alow on th8 watersido al Neatishead. as WEII as a floating basé on Barton Broad, together with a variety of motorboats, safely boats, Sailing boats, pèdal boats, canoes, largo paddleboard and assoeialèd specialist equipment. The Trust also owns and operat&s a specially adapted sèlf4atering propety, BerwGk Cottage in East Harling, Norfolk for visilors requirlng speclalisl hoists. Visitors al the cotta9e re￿1ve a half day boating on the Broads as part Df their stay. Public benefit The Trustees consider that the Tfusl provides a public benefit as defined by the Charity Commission through ils objèctivès of providing sailing and other activities for disabled or disadvantaged p90ple on the Norfolk Broads. These objectives are sel out in more detail under'objectivos and aclivilies. and numbers of users under'achiovemenls and performance., There is a suggested lavel of donation which is far less than the actual delivèry wsl. If a visitor IS Lsnable to mak8 thè suggesled level there is a busary of up to 50% that they can apply for. All trustees give their time voluntarily and receive no benefits from the charity for thelr work. Our many volunteers also 9ive their timè and re￿1ve no rBmuneralion for their work with Ihe Trusl. Personnel, voluntÈèts and local support The Board of Trustees wish to record their thanks and 8ppre¢ialion lo the staff, volunteer5 and local supporters for their support during the year. Volunteers are involved with the many aS￿¢ts of the Trust's a¢tivilies. All volunteers who assist on th& water are provided with training and supervision in order that they voluntÉer lo the standards of knowledg8 and compet8n¢e required by the Trust. Al volunteers are encouraged lo gain the nationally rècognised qualificalions appropriate for the aclivitl8S thay help wth and. where possible, this is both provided and funded in-house by thè TNSI. Employee invotvamént and omployrnent of dlsabled people Regular staff and volunteer meetings are held ID keep personnel informéd and up to date. These are led by the Centre Manager. Trustses are provided with regular briefings about th$ work of the Trust. Our online news and sorial media posts keep visitors, volunteers and the general PLJblic Fnfomied. Policies and procedures exist regarding Equal opportunities. Volunteer5 and Health and Safely matters. We wish lo take our vlsilors 2ffoal safely and it is essential that staff and volunteers have appropriate practical qualili¢alions. skills and experience in order lo be able to do this. W& provide training programm8s to enable poople ID gain experience and acquire the necessary skills and qualifi¢ations. Al present we do not have any staff th disabilities. When our most recent vacancies ware advertised we received no applications fiom disabled applicants. The Trust will continue lo work to encuuragg such applications for future vacanGies. The Nancy Oldfield Trust Limited Company Limited by Guarantee Trustees, annual report (Incorporating the dlrectors, report) f¢tyrtrtinued) Year ended 30 September 2025 Achlev•m•nt5 and perfomianc• Visitor numbers 2024-25 saw very good use being made of our self-calering accommodallon with 61 OA occupanw. ir) OLtr Nealishead bungalow. There was a 67°h o¢¢upancy of our specially adapted ¢ott8ge in East Harling. Day visitor numbers in¢reas&d from the previous yèar by an additional 19°k with 3,377 visitors enjoying all types of boatir¢9 a¢livilig5. The appelile of our visitors to participate in all our off8red a¢livilies remained strong throughout th8 year and extensions of our oporaling hours lo include some evening trips proved successful. During the quieter winter months. we made good use of the Kenyon bungalow facilities for volL4nteer training aclivilies. Fixèd assets Durtng the year the Trust spenl £36.09312024'. £173,889) on new fixed assets. Inv•stmgntS There were a number of Changes in the investment portfolio but no change in the overall investment slr8legy. The market value of th& porttoliD al the year-and w8$ £92,878, with realised gains of £Nil and unrealised gains of £1,509. Fundraising The Trust does not own or havg any interest in a trading subsldi8ry. Although 8 significant part of the Trust's revenue has r6sult8d from unsolicited gifts and donations from visitors and others. fundraising has been mainly concenlrated on giant making trusts. The Trust is greauy d¢pen(Jent on the grants received from the charitable trusts. foundations and organisalion8 and the Trust88s wish lo a¢knoiMedge and thank them all for their g8n8rou$ support.. Alan Boswell Group Charitable Tru51 Anonymous Trust Bank of England Barclays Charties Trust Homing Amateur Hats Lions Wroxham & Hovelon Mr and Mrs Philip Rackham Charitable Trust Mrs H.R. Grenn& Charil8ble Settlement Norfolk Community Foundation - Love Norfolk Bursary Fund Norfolk Punt Club Norwich Catherdral Alms Giving R S Brownless Charitable Trust Sl Peter Mancroft Church Tho Bally Thomas Charitable Fund Th8 Bo$hier-Hinlon Foundalion The Goldcrest Charitable Trust The Lady Hind Trust The Leslie Mary Carter Charitable Trust Thè Paul Bassham Charitsble Trust The Pennycress Trusl Thts Timothy Colman TnJ5t Val6riÉ Langrish Walton Lodge Wroxham Bure Valley Rotary Club The Nancy Oldfield Trust Limited Company Limited by Guarantee Trustees, annual report (incorporating the dire¢tors' report) (Cont￿￿&￿} Year ended 30 September 2025 Financial rovlew Th8 results of the Tnjsl's operations for the year are sel out in detsil on pages 9 to 26. The nat expenditure in the General Fund before transfers and othar re¢ognised gain5 and losses amountod 10 £66,567 {2024'. nel expenditure of £89,606). R•s•rv?s policy The Trust'5 free reserves al 30 September 2025 comprised General Fund nel cu￿ent assets l¢ash and dablots less ¢redilors} and investments of £124,471 12024.. £70,762} and Oesignated Funds of £47.194 12024.. £47,194). Restricted funds al 30 Sèptember 2025 were £28,88012024.. £23,973}. Total funds at 30 September 2025 were £1.024,D1812024.- £1,085.5081- The trust88s consider the following factors in assessing the level of r888N8s required to be mainlalned on an on-going basis-. la} The uncertainty suriounding revenue streams from year lo year, parti¢ulady in the light of changes in visitor behaviour following the pandemic. The Trust receives no slatulory funding and religs largely on voluntary donations ané grants for the majority of tts income. The current economi¢ ¢limat8 continues to be very challenging and for the foreseeable future th8 Trnsltses expect that the ¢osls of running the centre wll exceed incom&. {b) On-going costs whi¢h conlinLEe lo rise paruy due lo increases which are outside the control of th8 Trustees and those requiTed to meet Health and Safety and in$utance requirements. Icl The long lemi ¢osts of repairing and replaoing the Trust's fleet of boats and quay hè8dings ané upgrading facilities lo modem day stsndards. These will vary from year to year and on some occasions will be 6ignificanl. (d} Reliance on the inveslment portfolio to contribute lo th8 income of the Trust. Investment income is curronuy £6k p.a. {e) The seasonal nature of the Trust's activities wilh cash balances being signlftcantly lower in the winter months wh8n visitor donations are small. With further grants and ggnerous legacies the Trust remains in a broadly Secure financial position. However, the Trust is always reviewing its operations lo generate new l additional sources of income and is always looking at ways of reducing costs. In addition the option remains opèn for the trust to reviews ils portfolio of assets should cash generation be r8qLJirèd. Investment policy The Trust'5 inv8stmÈnl policy is conservative. minimising risk while seeking to obtain a balance be￿On capital growth and incomB. A firm of slockbrok8rs is retained lo advise on and manage Ihe portfolio on a discretionary basis. However, the Trustees still take responsibility for overall investment d8¢isions. The Nancy Oldfield Trust Limited Company Limited by Guarantee Trustees. annual report (in¢orporating the directors. report) [c¢)ntinued) Year ended 30 September 2025 Plans for future period$ Our new motor ¢ruisei, Hazel, is now in service and fully optrralional. Hazel has a gr88ler visitor capacsly {up to 12 mobile sgrvice users per sassionl and is also able lo accommodate individuals who rely on larger and heavier whe8lchair5 UP to 300kg in total on the bespoke lift. Hazel is very w911 appointed, being all electric, with a large accessible toi18t, D￿n plan saloon with galley as well as an a¢¢es5ible rear deck outside. Our visiloTS report that they are enjoying both the spacious feel of the boat and the silencè of the electric propulsion. Hazel operales from Richardson's of Stalham boatyard who we thank for generously supportEng the Trust. We will be looking lo boost income by providing more acllvlty opportunities and continuing to expand our outreach, particularfy with specialist and mainstream schools, 18rgeting those students with Special Educational Needs and poor social. emotion81, and mental health, as well as attracting new groups to our Service. 2025 has been the start of a collaboration b&tween NOT and the Norfolk Wildlrfe Trust INWTI who intend to develop Hickling Broad and the surrounding ar88. The NWT will be supporting us by way of havin9 ong of our motor cruisers at Hickling running sgssions there. 11 is ￿VISage￿ that our boal trips will start in MaylJune 2026. The Nancy Oldfield Trust Limited Company Limited by Guarantee Trustees, annual report {in¢orporating the directors. reportl fconUnu¢¢l) Year ended 30 September 2025 structur•. governan¢• and managèm•nt Governing document The Nancy Oldfield TTUSt was established under a Irusl deed dated 22 March 1984. The trade and assets of the Trust wer@ transferred to The Nan¢y Oldfield Trust Limit@d on 1 April 1998. The Nancy Oldfi8ld Trust Limited is a company limited by guarantee and is govemed by Its Memorandum and Articles of Association as amended September 2016. Ea¢h member is liable lo eonlribule 8 sum not exceeding £10 in th& event of the company being wound up. The company is also registered with the CharÉty Commission. Re¢ruitm*nt and appolntmgnt of Trustees As a general rule the Buard is betkneen &ight and twelve members all of whom have som& particular and relevant experience or skill that can be offered lo the Charity. al prasènl there are only nine members of the board. Recruitment is undertaken by advertising widely for expressions of inleiesl and the appointing new trustees as approprialv lo achieve a balance of expertise, and expari8ncè on the Boaid. All potential Trustees have the opr>ortunity to visit the Trust and meèt the chaiM￿n, Cenlre Manager and other Trustees befo￿ a fomial interview procedure. Tru$to¥$ inductlon and trainlng On appointment Truste8s are provided with.. The charity's Memorandum and Articles of Associ8tion The latest accounts of the charity Details of Charity Commission guidance notes CC3 - The Essential Trustee - what you need lo know. what you need to do. In addition, Trustees are en￿￿raged to read Charity Commission and other newsletters and lo ait8nd courses d&signed to keep them abreast of their dub'es and responsibilities. R15k management The Tnjstees acknowledge the Chartty Comm¢ssion's recommendation for them lo undèrtaké a review of the major risks to which the Trust is @xposed. Risk managemont is now reviewed on 8 regular basis to ensure Ihey can update accordingly. Organ15ational structure The Trustees are directors within the meaning ot the Companies Act 2006. The Trustees at th8 dale of this report are listed in the 'Reference and Adminislralive Details, section of this document. The Trustees meet thre8 or foul limes a year. Indepèndènt examlner A resolution to reappoint M8rk Proctor FCA DChA of Lovewell Blake LLP as independent examSner will b8 proposed at the next Annual General Meeting. Small company provisions This report has been prepared iaking advantage ol the small companies, exernption of $gCtion 415A of the Companiés Act 2006. The Nancy Oldfield Trust Limited Company Llmited by Guarantee Trustees. annual report (incorporating the directors, report) (contlnuèd) Year ended 30 September 2025 The trustees, annual report was approved on trustees by.. 20 April 2026 and signed on behalf of the board of D Len￿ard￿Ones (Chair) Trust8e The Nancy Oldfield Trust Limited Company Limited by Guarantee Independent examiner's report to the trustees of The Nancy Oldfield Trust Llmited Year ended 30 September 2025 I report to the Charity trustees on my examination of the financial slalemenls of the company for the year ended 30 September 2025 which comprise Ihv statement of financial activitiès (including incorne and expenditur8 accounll, balance sheet. ststem8nl of cash ￿OwS and the related nolas. Responsibilitle5 and basis of rèport As"Ihe charity Irusle&s of the company {and also its dir6Gtors for the purposes of company law} you are responsible for the pr8P8ralitsn of the financial statements in accordance with the raquitemenls of the Companies Act 20061'lhtr 2006 Act'i. Having satisfied mysell that the financial ststements of the Company are not requlrgd lo be audited under Part 16 of the 2006 Act and arÉ eligible for independent examination, I report in respè¢l of my examination of your company's financial slalements as carried OLJI under section 145 of the Chari119s Act 2011 {'the 2011 Act'}. In carying out my examination I have followed the Directions given by Ihe Charity Commission under secb'on 1451Sllbl ot th8 2011 Act. Indepèndent ¢xaminer'8 statement Since the charity's gross income exceeded £250,000 your 8xaminÈr must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a mgmber of the Inslilule ol Charter8d A¢¢ountants in England and Wales {ICAEWI, which is Dne of the listed bc￿les. I have complelad my examination. I confim that no matters have come lo my attention in conn&cb'on with th¢ examination giving me cause lo belièva that in any material respect.. accgunling r8¢ords were not kepl in respect of the company as required by section 386 of the 2006 A¢l", 01 the financial ststements do not accord wlth those records., or the financial slal$m8nls do not comply with the a¢¢ounlir7g requirements of section 396 of the 2006 Act other than any ￿qUIreMent that the accounts give a 'lrue and fairf view which is not a matter consider8d as part of an independent examlnallon., or the financial statements have not been prepar8d in accord8n¢e with the methods and principles of the Slalement of Recommended Practice for accounting and reporting by charities applicable to charits'es preparing their accounts in accordanc8 with the Financial Reporting Standard applicable in the UK and Rgpublic of Ireland IFRS 1021. I hav8 no concerns and have com2 auoss no other rnotters in connection with th8 examination to which attention should be drawn in this report in order to enable a prop&r understandin9 01 the a￿tsun￿ to b8 reached. Mark Pro¢tor FCA DChA Independont Examiner Lovewell Blake LLP Chartered accountsnts Bankside 300 Peachrnan Way Broadland Business Park No￿[ch NR7 OLB 1910512026 The Nancy Oldfield Trust Limited Company Limited by Guarantee Statement of financial activities (including Income and expenditure account) Year ended 30 September 2025 2025 Reslricled funds Total funds 2024 Unrestri¢led funds Total funds Nottt Incom8 and endawments Donations and legacies Other trading activities Investment income Othèr income 277,088 8,758 5,655 5,440 296,941 27,412 304,500 8.758 5,655 5,440 276,382 6,880 6,478 Total in¢omo 27.412 324,353 289,740 ExpBnditur• Raising funds Raising funds charil8bl8 activities 115,1721 1348,3361 {363,5081 {15.1721 1370,8411 1386.0131 115.5951 1367.1241 {382.719) 10 122,5051 {22,5051 Totsl ¢xp•nditure Net expendlturfj and net movements ITr funds before galns and lossos on investments 166.5671 4,907 161,66LI} 192,9791 Nel gains on inveslments 1,509 1,509 6,592 Net &xponditure and net mov•m•nt In fund$ (65,0581 4,907 160,151) 186.387} Recon¢iliation of funds Total funds brought lon￿ard Total funds ¢arrltd forward 1.061,535 996,477 23,973 28,880 1.085.508 1.171.895 1.025.357 1.085.508 The statement of financial activities incJud8s all gains and losses rewgnised in the year. All income and expenditure derive from continuing activities. The notes on pag05 14 to 28 form part of thèse financial statements. 10- The Nancy Oldfield Trust Limited Company Limited by Guarantee Balance sheet 30 Septembèr 2025 202S 2024 No¥tg Fixed assets Inlan9ible assets Tangible fixed ass8ts Inveslmenls 16 17 18 992 923,789 92,878 1,017,659 3,967 939,612 91,369 1,034,948 Current assets Debtors Cash al bank Bnd in hand 19 6.864 149.373 8,243 82,705 156.237 90,948 Creditors- amounts talling due wlthln one year 20 (48,57DI 131,3881 Net ¢urFent assets 107,6S7 1,125,326 59,560 Total assets les5 current Ilabllltles 1.094,508 Creditors- amounts falling due after more than one year Ntstassets 21 (99,9691 7.025,357 {9,0001 1.085.508 Funds of th• ¢harity Restricted funds Unrestricted funds 28.880 996.477 23,973 1,061,535 Total charlty funds 23 1,025,357 1,085,508 For the year endSng 30 September 2025 the chartty was entilled lo exemption from audit under section 477 of th8 Compani8s A¢1 2006 rolating to small companies. Directors, responsibilities- The members have nol required the company to obtsin an audit of its financial Stslements for thè year In qu&slion in accordance with se¢lion 476., The directors ackr￿w1edgÉ thèir responsibilities for complying with the requirements of th6 Act with respect to accounting rtscoTKl8 and the preparation of financial stat8m8nts. These financial statèments have been prepared in accordance with tho provisions applicable to companies subject to the small companips, regime. The b8lanee sheet continues on the following page. The notss on pages 14 to 28 *omi part of these flnan¢l81 $tst¢monts. 11 The Nancy Oldfield Trust Limited Company Limited by Guarantee Balance sheet fconthuodj 30 September 2025 The$e financial st8t&m8nt8 wore approved by the boBrd of trustee8 and authtirisod for issuo on 20 April 2026 and are signe PG/d on behalf of th8 board by.. D Lennard-Jones (Chairl Trust88 Company registration numb8r. 03523388 The notes ¢n page8 14 to 28 form part of these finan¢lal statements. 12 The Nancy Oldfield Trust Limited Company Limited by Guarantee Statement of cash flows Year ended 30 September 2025 2025 2024 Cash flows from operatlng a￿l¥It1&S Nel expenr donations 162,960 1B2,960 Grants Grants and other donations 114.128 27,412 27,412 141,540 277,088 304.500 Unrestricted Funds Restricted Total Funds Funds 2024 Donations Visitor donations 140.232 140.232 Grants Grants and other donations 42,780 183,012 93.370 136.150 93.370 276,382 Other trading activities Unreslricled Total Funds Unreslrithd Total Funds Funds 2025 Funds 2fi24 Shop income RYA Course 360 8.398 8,758 360 8,398 440 6,440 6,440 6,880 8,758 6,880 Invas*m&nt In¢omo Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Inleresl Dividends 2.335 3.320 2,335 3.320 510 5,968 6.478 510 5.968 5,655 5.655 6,478 Other incomo Unrestricted Total Funds Unrestriclgd Total Funds Funds 2025 Funds 2024 Other income- Insurance proceeds 5,440 5.440 17- The Nancy Oldfield Trust Limited Company Limited by Guarantee Notes to the financial statements fcanlirtuod) Year ended 30 September 2025 Raising funds Unrestriclad Total Funds Unr8slricted Total Funds Funds 2025 Funds 2024 Gifts - impairment reversal Consultancy fees and expenses Investmant Managern8nt Feé RYA course expenses Olher 998 11,019 493 1.457 1.628 998 fj1,019 493 1,457 1,628 13.176 13.176 509 1,487 509 1.487 15,172 15,172 15.595 15,595 18- The Nancy Oldfield Trust Limited Company Limlted by Guarantee Notes to the financial statements (continued) Year ended 30 September 2025 10. Expendlture on eharltablè activities un￿StriCt&d Funds Restri¢led Total Funds Funds 2025 Staff ¢osts Boat maintenance other boat costs House running costs Vehicle running costs Office, $18tionary & sundry Insuranco Bursaries Legal and professional fees Depreciation Amortisation Governance costs 152,968 11,081 10,976 23,915 3,335 45,776 26,458 10,182 4,158 51,916 2,975 4,596 348.336 4.570 6,834 157,538 17,915 10.976 25.847 3,335 46,276 26,458 18,851 4,158 51.916 2.975 4.596 1.932 500 8,669 22.505 370,841 Unre5tricled Funds Restricted Total Funds Funds 2024 Staff costs Boat mainlenaneè Other boat costs House running ¢osts Vehicle running costs Office. stationary & sundry Insurance Bursaries Legal and professional fges Depreciation Amortisalion Governance costs 81.278 25,667 10,208 34,354 5.C137 35.868 26.294 76,370 157,648 25,667 10.208 34.354 5,037 35,868 26,294 20,373 1,447 42,417 2,975 4.836 20,373 1,447 42,417 2,975 4,836 270,381 96.743 367.124 Analysis of Gov•rnaneÈ eosts: 2025 2Q24 Independent examination - current yoar prevlous year 4,596 4,260 576 4,596 4.836 11. Net gains on Investments Unreslrict8d Total Funds Unreslri¢led Total Funds Funds 2025 Funds 2024 Gainslllo8s9$1 on other investment assets 1,509 1,509 6.592 6.592 -19- The Nancy Oldfield Trust Limited Company Limited by Guarantee Notes to the financial statements (continuedj Year ended 30 September 2025 12. Net 8xpendlture Net expgndilure is staled aft8r ehargingllcrediting).. 2025 2024 AmortiS8tion of intangible assets Depreciation of tangible lixed assets 2,975 51,916 2,975 42.417 13. Independont oxamlnation fees 2025 2024 Fees payable to the independent examiner for.. Independent oxaminalion of the tinaneAal slalemenls 4,596 4.836 1& Staff costs The lolal staff costs and employee benefits for the reporbng period are analysed as follows: 2025 2024 Wages and salartes So¢i81 security costs Employer contributions lo pension plans Other ernployee benefits 147.481 4,532 3.049 2,476 157,538 148,407 4.953 3.425 863 157.648 Key Management P•rsgnne The Contre Manager and Finance Offi¢er repiesgnl the Key Management Pèrsonnel for the Trust. The lot21 valu8 of remungraliori and benefits received by K&y Management Personnel was £42,557 {2024.. £46.5271. The average head count of employees during the year wa8 812024.. 91. No employee received 8mployee benefits of more than £60,000 during the year12024'. Nill. 15. Trusloè rèmuneration and expens0$ No remuneration was paid to the Trustees in either the current or pr8vious year and Trustees were reimbursed lor expenditure during either the current or previous year. -20- The Nancy Oldfield Trust Limited Company Limited by Guarantee Notes to the financial statements fconllnuad) Year ended 30 September 2025 16. Intangiblè assets Website Cost At 1 October 2024 and 30 September 2025 Amortisation Al 1 October 2024 Charge for the yeai At 30 September 2025 Carrying amount At 30 September 2025 AI 30 September 2024 11.900 7,933 2.975 10,908 992 3.987 17. Tanglble fued assets PropBrty, Boats. yachts improvement and and quay hauseboat Vehielès, plant and equlpm$nt Total Cost At 1 October 2024 Additions 902,555 700,278 36,093 736,371 63,657 1,666,490 36,093 At 30 September 2025 Depreclatlon At 1 October 2024 Chargtr for the year At 30 sePtsm￿r202S Carrying amount At 30 Septembor 2025 AI 30 September 2024 902,555 63,657 1,702.583 317,507 18.584 370.317 29,141 39,054 4,191 43,245 726.878 51,916 778,794 336.091 399,458 566.464 336.913 329,961 20,412 923,789 939,612 585.048 24.603 All uf the above fixed ass8ls aro used for direct ¢hadtabla purpose by th8 Trust. Fixed assets include a property, a boat and a furthor property which were originally gifted to the NanGy Oldfield Trust at a v81u8tion of £105.LIOO. £30.000 and £300.000 respectively, being the Trustee's astimate of the value al tho dalB of the gifts. -21 The Nancy Oldfield Trust Limited Company Limited by Guarantee Notes to the financial statements (contlnu¢dJ Year ended 30 September 2025 18. Investments Listed Investments Cost or valuatlon Al 1 October 2024 Additions Fair value movements 91,369 1,509 At 30 Septemb•r2025 Impairment At 1 October 2024 and 30 September 2025 Carrylny amount At 30 September 2025 At 30 Septsmber 2024 92,878 92,878 91,369 l investments shown above a￿ held at valuation. The invèstment portfollo compri$8s of the followlng listed invèstmènts: Holding 2025 2024 WS Opi8 Street Income Fund R Inc Shares Gainslllossesl on Investment ass8ts are made up as follows- 92,878 91,369 Realised Unrealised 12,510 {5,918) 6,592 1,509 1.509 The fair value of listed investments is del8m)in&d by ￿ference lo the quoted pric$ of identical assets In an aclSv8 market al the balance sheet date. Th8 Cost of invaslments at 30 September 2025 was £87,33912024.. £87.339). 19. Debtors 2025 2024 Prepayments and accrued income 6,864 8.243 -22- The Nancy Oldfield Trust Limited Company Limited by Guarantee Notes to the financial statements f¢onNnuod) Year ended 30 September 2025 20. Credltors: amounts fallÈng du• withln on• y•ar 2025 2024 Barik loans and overdrafts Trade creditors Accruals and deferred income Social security and oth6r laxes Accruals Other creditors 16,281 4,252 15,325 1,480 5,232 6,000 48,57C> 3,994 14.541 2,833 5.520 4,500 31,388 Other crediloTS repres6nts amounts owing to Harber Properties Limited la company to whi¢h Mrs D F Harber is connecl8d}. The amount is to be repaid al quartèrly instslmenls of £1.500. No inteTesl is payable. Bank loans represents amoLtnls owing to Thrive Together Ltd. Tho amount is lo be repaid in monthly inslalmenls with interest applicable al 7.50/ts with a 12 month capital repayment holiday. 21. Creditors: amounts falling due after more than one year 2025 2024 Bank loans and ovèrdrafts Olh6r creditors 98,469 1.500 99.969 9,000 9,000 Other credllors represents amounts owing tD Harber Properti8s Limited la Company to whi¢h Mrs D F Harber is connecledl. The amount Ss lo be repaid al qu2rtedy instalm&nl8 of £1,500. No interest is payable. Bank loans represents amounts owing lo Thrivg Together Ltd. The amount is lo be repaid in monthly instalments with interest applicable al 7.50/u with a 12 month capital repayment holiday. Amount dua after 5 years was £4,538. 22. Deferred Income 2025 2024 Al 1 October 2024 Amount released to in¢ome Amount deferred in year At 30 Svptember 2025 14,$41 {14,541} 15,325 2.272 12,272) 14.541 15.325 14.541 Defeffed income represents In￿M6 in advance of actsvili85 to be undertaken in the following yèar. -23- The Nancy Oldfield Trust Limited Company Limited by Guarantee Notes to the flnanclal statements (¢on*nued) Year ended 30 September 2025 23. Analysis of ¢haritabl• funds Transfer At30 Betsv•en Septemb•r Funds 2025 At 1 Octobèr Gain on 2024 Ineom¢ Expendtture Inv•stmentS Unrestricted funds General funds 1.014,341 296.941 {363,5081 1.509 949,283 Designated Hazel Refurbishment (previously Boat Replacemenl} Volunteer Training Total Designal8d 44.194 3.000 44.194 3,000 47.194 47,194 Restrlctèd funds Property Maintenance Boat M8inlenance BeAvi¢k Collage Maintenance Boat and Salling Equipment Salaries Specialist Equipmènt Bursary Fund Total Rosthct8d 500 5.000 150LII 15,000) 5.000 {1,932} 3,068 1,744 1,744 430 5,000 14.5701 1,912 10,000 27.412 11,834} 18.6691 122.5051 78 23,560 28,880 22,229 23.973 Total Funds 1,085,5D8 324,353 (386.0131 1,509 1,025.357 -24- The Nancy Oldfield Trust Limited Company Limited by Guarantee Notes to the financial statements icontlnu￿J Year ended 30 September 2025 Transter At30 Between September Funds 2024 At 1 October Galn on 2023 Incom* Expenditure Investménts Unrestrlct•d funds General funds 1,091,355 196,370 1285.976} 6,592 6,000 1.014.341 Deslgnated Hazel Refurbishment (previously Boat Replacem@nl} Volunteer Training Total Designaltsd 44,194 3,000 44,194 3.000 47.194 47.194 Restricted funds Boat and Sailing Equipment Hazel Refurbishment Salaries Bursary Fund Total Reslricled 1,744 1,744 6.000 76,370 11.000 93,370 {6,0001 176,3701 120.3731 {96,743) 21,602 33,346 22.229 {6,C)001 23,973 Total Funds 1.171.895 289,740 1382,7191 6,592 1.085.508 Unrestrlctèd Funds The unrestricted funds are to provide the necèss8ry financial reSOu￿9S lo fund the day lo day activities of the ¢h8rity. Deslgnated Funds These funds have b@en sel aside in recognition of th$ trustees commitm@nt lo th costs described in the title. Restricted Funds Each fund represents monigs raised by grants given sp8ttifically towards the costs described in Ils title. Ttansfers between funds R8slricted funds w8r8 transferred lo unreslriclad funds to reflect capital itoms purchas8d, on which there is no ongoing reslriclion. -25- The Nancy Oldfield Trust Limited Company Limlted by Guarantee Notes to the financial statements (¢ortiTrued) Year ended 30 September 2025 24. Analys1$ of nèt aÈs¢ts b¢￿e￿n funds Intanglble and Tangible Fixed Assets Investments At30 September 2025 D¢btors Co$h at Bank Creditors UnrestrS¢tod funds General funds 924,781 48,684 6,864 117,493 1148.539} 949,283 Designated Hazel Refurbishment (previously B021 Replacemenll Volunteer Training Total Designated 44,194 44,194 3.000 3,000 44.194 3,00 47,194 Rg$tricted funds Berwick Cottage Maintenance Boat and Sailing Equipm8nt Salaries and gènBr81 Specialist Equipment Bursary Fund Total Restricted 3,068 3,068 1,744 1,744 430 430 78 23,560 78 23,560 28,880 28,880 Total Funds 924,781 92,878 6.864 149.373 (148,539} 1,025,357 -26- The Nancy Oldfield Trust Limited Company Limited by Guarantee Notes to the financial statements (contlnue Year ended 30 September 2025 Intan9lble and Tangiblg Fixed Assets At30 Soptember 2024 Investrnents Dobtors Cash at Bank Credltor5 Unrestrictsd fund General funds 943.579 47,175 8.243 55.732 {40,388) 1,014.341 Dosignaled Hazel Refurbishm8nl (previously Boat Replac8rnenll Volunteer Training Total Designated 44.194 44,194 3.000 3,OOL) 44,194 3,000 47,194 Restrictsd fund5 Boat and Sailing Equipment Bursary Fund Total Rastricled 1,744 22.229 1.744 22.229 23,973 23,973 Total Funds 943.579 91,369 8,243 82.705 {40,388) 1,085,508 25. Analysis of changes In net debt At At l Oct 2024 Cash flows 30 Sèp 2025 Cash at bank and in hand Debt wlhin one year Dobt due after one year 82.705 14.5001 19,0001 69,205 66.668 117.7811 190,969 (42,082) 149.373 122,2811 199.969) 27,123 26. Capltal ¢ommltments Capital expenditure contracted for but not provided for in the financial stal8ments is as follows: 2025 2024 Tangible frxed assets 35,777 -27. The Nancy Oldfield Trust Limited Company Llmited by Guarantee Notes to the financial statements {contlnuedJ Year ended 30 September 2025 27. Related party tran5actlon¥ During the prior y88r the ¢harity purchased a vehicle from Harber Properties Limited, a comparby to which Mrs D F Harber is connected. The total cost of the vehicle was £18,320 which is to be repaid at quarterly payments of £1,500. At the year end, £7.500 {2024= £13.5001 was owing to Harber Properbes Limit8d. -28-