2025-03-31-accounts

HUMPHREY BOOTH HOUSING CHARITY ANNUAL REPORT FOR THE FINANCIAL YEAR ENDING 31ST MARCH, 2025 Registered Charity No. 1072080 Regulator of Social Housing No. A0798

CONTENTS eNo. TRUSTEES, ANNUAL REPORT 1-21 STATEMENT OF COMPLIANCE WITH CORPORATE GOVERNANCE MATTERS 22 STATEMENT OF TRUSTEES, RESPONSIBILITIES 23 INDEPENDENT AUDITOR'S REPORT 24-26 STATEMENT OF FINANCIAL ACTIVITIES 27 BALANCE SHEET 28 STATEMENT OF CASH FLOWS 29 NOTES TO THE FINANCIAL STATEMENTS 3042

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024125 TRUSTEES Mrs Barbara Griffin, MBE Mrs Mary-Liz Walker JP DL Chairman to 14th February, 2025 Chairman from 14" February, 2025 P Dennett, Esq from 6. May, 2016 Senior Church Warden, Manchester Cathedral City Mayor of Salford Mr S During Councillor D A Lancaster, MBE P M McNamara Councillor J Mullen Councillor G C Reynolds C Wells Esq Duniv J C Willis Esq CBE CPFA LEGAL AND ADMINISTRATIVE INFORMATION Name and address of Charity: The Humphrey Booth Housing Charity The William Jones Building 1 Eccles Old Road Salford M6 7DE Governing Document: Statutory Instrument- The Charities (Booth Charities) Order 1985 No. 1935 Charity Registration No.: 1072080 Regulator of Social Housing No. A0798 Chief Executive to the Charity Mrs S M Jones to 14th February, 2025 Mr D Haynes from 3rd March, 2025 Bankers: Co-operative Bank PIC 1 Balloon Street Manchester M60 4EP Barclays Bank PIC 1 Churchill Place London E14 5HP Yorkshire Bank 48- 50 Market Street Manchester M1 1 PW Santander UK Bank Customer Service Centre Bootle Merseyside L30 4GB Nationwide Building Society Kings Park Road Moulton Park Northampton NN3 6NW Scottish Widows PO Box 883 Leeds LS19TY Shawbrook Bank CCLA Investment Management Ltd Lutea House One Angel Lane Warley Hill Business Park London EC4R 3AB The Drive Great Warley Brentwood Essex CM13 3BE Solicitors: Butcher and Barlow LLP Commercial Offi 3 Royal Mews Gadbrook Park Northwich CW9 7UD

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024125 (Continued) Auditors (External): Beever and Struthers Suite 16b The Beehive Lions Drive Shadsworth Business Park Blackburn BB12QS Investment Managers: Rathbone Investment Managers Limited Port of Liverpool Building Pier Head Liverpool L3 1 NW and Sarasin and Partners LLP Juxon House 100 St Paul's Churchyard London EC4M 8BU Investment Management Advisers: Portfolio Review Seniices Pailings Warboys Road Kingston Hill Surrey KT2 7LS Health and Safety Advisers and Design Consultants: Warburton Associates Design and Management Ltd The Old Police Station 62 Chapel Street Salford M3 7AA

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024125 (Continued GOVERNANCE statutory Instrument No. 1935 The Charities {Booth Charities) Order 1985- provides that the Housing Charity shall be administered and managed by the Distributors of the Booth Charities as the Charity Trustees thereof. OBJECT The Object of the Humphrey Booth Housing Charity is to provide and maintain almshouses for the residents and to benefit the residents of Salford. (Ref. Paragraph 45= The Charities (Booth Charities) Order 1985 (Sl No. 1935), in relation to Paragraph 2<Q of the Order which defi'nes "residents. as "the poor inhabitants [of Salford] who are appointed to reside in the almshouses belonging to the Housing Charity"). GOVERNING ORDER Pursuant to the provisions of the Charity Commission Scheme (Statutory Instrument No. 1935) governing the Housing Charity dated 10th December, 1985, the legal estate in the land and property of the Housing Charity is vested in the Trustees of the Booth Charities as bare Trustees for the Housing Charity. The land and buildings belonging to the Housing Charity and any further land and buildings acquired or appropriated for use for the purposes of the Housing Charity shall be appropriated and used for the accommodation of residents in conformity with the provisions of the Scheme. Under the terms of the StatLrtory Instrument the Trustees of the Housing Charty: Shall first defray out of the income of the Housing Charity the costs of repairs and insurance and all other charges and outgoings payable in respect of the property of that Charity and all proper costs, charges and expenses of and incidental to the administration and management of that Charity. May establish and maintain out of the income of the Housing Charity a reserve fund to be entitled 'The Cyclical Maintenance Fund" for the purpose of providing for those items of ordinary maintenance and repair of the almshouses and other property belonging to the Housing Charity which recur at infrequent intervals. Shall establish and maintain a reserve fund to be entitled 'The Housing Charity Extraordinary Repair Fund" for the purpose of providing for the extraordinary repair, improvement, or rebuilding of the almshouses and other property belonging to the Housing Charity. And, (subject to the payment aforesaid) shall apply the income of the Housing Charity for the benefit of the residents in the almshouses of the Housing Charity or any of them in such a manner as the Trustees think fit from time to time. PUBLIC BENEFIT STATEMENT The Housing Trustees had regard to the Charity Commission's guidan￿ on public benefit. In the discharge of its responsibilities, the Charity enSU￿d that its operational focus throughout the year was geared to public benefit. In meeting its objectives, the Charity provided subsidised, high qu81ity, comfortable, affordable, housing and communal facilities, coupled with speedy, efficient Maintenan￿ and support servI￿s.

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024125 (Continued) SELECTION AND TRAINING New Housing Trustees are selected in Complian￿ with the Governing Order and undergo induction and training relevant to their role. Newly appointed Housing Trustees holding Offi￿ during the year were issued with an Induction Pack including a copy of the Goveming Order,. Standing Financial Instructions., GDPR Privacy Policy,. Charity Commission Guidance CC3 the essential trustee.. what you need to know, what you need to do and the Charity Commission's 'Charity Trustee Welcome Pack.. Relevant training courses are offered to Housing Trustees throughout the year. Housing Trustees are issued with copies of the Charity Commission News and the Almshouses Gazette. IMPACT MEASUREMENT Impact measurement and Best Value are integral to the continuous review of the Charity's management ol its almshouse properties. A qualitative measurement is inbuilt into the 'relettable condition" model implemented by the Charity in order to guarantee uniformly high standards of décor, floor coverings (safety standards) and window furnishings - all reviewed and renewed at every point of re-let, along with functional tests and a maintenance review. In distinguishing between intention and outcome in order to measure impact, the Charity liaises with other agencies (including informal support groups) when marketing properties tailored to residents, specific needs. The beneficial impact of the Charity's housing provision to the wider community, is illustrated in the patterns and trends of approved applications- i.e. predominantly. applicants who were at risk of becoming homeless and were residing in temporary accommodation, others who required "state of the art. specialist housing due to impairment andlor disability; and those who needed to downsize according to their physical and income constraints and. thereby, to release rented family homes in accordance with Government policy. The Charity's charges for its almshouse accommodation are significantly subsidised (particularly aimed at alleviating fuel poverty). amongst the lowest in the City, and attract Housing Benefiuuniversal Credit support for residents who satisfy the qualifying criteria. STANDARDS COMPLIANCE STATEMENT The Charity falls within the regulatory compliance ambFt of the Regulator of Social Housing (RSH) Regulatory Arrangements for Small Associations {RASA) and complies with the Regulator of Social Housing Governance and Financial Viability Standards. In meeting the regulatory standards, the Housing Charity has adopted the NHF'S Code of Governance 2020 Edition and is satisfied that it complies with the spirit of the code and the principles set out in it and the Almshouse Association Standards of Management. The Charity is a member of the Almshouse Association's Registered Providers Network. The Charity's Annual Report is displayed for residents, information in the estate Community Centres and the Charity's Headquarters reception area, together with information leaflets explaining the remit of the Housing Ombudsman Service.

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024125 (Continued) CHARITY GOVERNANCE CODE At their meeting held on 12th July, 2024, the Housing Trustees approved.. the Charity Governan￿ Code for Smaller Charities (2020 Edition) and, having in place rigorous govemance arrangements, mostly comply with the Code. The Charity Governance Code will be reviewed annually, Humphrey Booth Housing Charity Controls Report for the year ended 31. March, 2024., NHF'S Code of Governance 2020 edition Compliance Check List,. and The Almshouse Association G0Veman￿ Check List Governance aspects of the Charity are considered and reviewed throughout the year as part of the Risk Register and the Charity Governance Code is useful in highlighting improvements that can be made. Any significant improvements will be reported in future Annual Reports. HOUSING OMBUDSMAN: COMPLAINTS HANDLING CODE 2022 The Charity complied with the Housing Ombudsman's Complaints Handling Cixle being Statutory from 1. April, 2024. The Code provides a single. robust set of standards for complaint procedures to be accessible, fair and efficient. No complaints were received in the period 1st April, 2024, to 31st March, 2025. A copy of the revised, reviewed and approved Complaints Policy and Procedure was circulated to all residents and staff and copies of the self-assessrnent approved by the Housing Trustees at their 12 July, 2024, meeting were displayed in each of the Estate Community CentreslLaundries and in the reception area of our office headquarters. The Self-Assessment will be reviewed and approved by the Housing Trustees at their 11 July, 2025, meeting and copies would be displayed in each of the Estate Communty CentreslLaundries and in the re￿ption area of our office headquarters. The self-assessment survey Complaint Handling Code Annual Submissions Form was completed and submitted to the Housing Ombudsman on 21st July, 2025. HOUSING CHARITY ESTATES MAINPRICE CLOSE Eccles Old Road Salford M6 7AE 6 apartments {1 x 2 bedroom" 4 x 1 bedroom" 1 x studio) 2 self-contained bungalows (2 x 2 bedroom, disabled access) ST JAMES CLOSE Vicarage Close Salford M6 8EQ 20 apartments (2 x 1 bedroom. 18 studio) WINSTANLEY CLOSE Acresfield Road Salford M6 7EZ 16 apartments (10 x 1 bedroom" 6 studio) TOTAL 44 Units The estates are set in landscaped gardens with laundry and community facilities provided on all estates.

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024125 (Continued) Accommodation comprises:_ self-contained studio-type apartments wtth separate hallway, kitchen and bathroom. one bedroom apartments, with lounge, krtchen, bedroom and bathroom., one bedroom conversions (Phases l and11), with entrance hall, lounge, kitchen, bedroom, bathroom with bath and w.c. and shower room with w.c. one bedroom conversions (Phase111). with entrance hall. lounge, kitchen, bedroom, bathroom with shower and w.c. and cloakroom with wash hand basin and w.c. self-contained, disabled access bungalows, wtth entrance hall, lounge, kitchen, 2 bedrooms, bathroom with shower and w.c., separate w.c., store room, covered car port with wheelchairlcycle store and rear paved garden; and two bedroom apartment, with entrance hall, loungeldining room, dining kitchen, double and single bedrooms, bathroom with bathlshower and separate w.c. Resident contributions within the financial year 2024125 ranged from £108.59 to £131.83 per week and included an accommodation charge, service Charge and in apartment units, hot water and background heating. The Charity continued to subsidise.. the service charge to residents at a cost of £18.19 (2023124 - £15.44) per week,. and the background heating and hot water supply charges which were increased by 6 % (total increase to the Charity of 18.390/0 from 191 October, 2022, to 30th September, 2024) an average increase to residents of £0.60p per unit per week, in order to alleviate fuel povp.rty 20/0 of residents of Humphrey Booth Housing Charity elected to use the services of Care on Call. a 24-hour mobile warden service for which residents are charged direct. AGE PROFILE OF RESIDENTS The current age range is shown below, with the youngest resident aged 56 and the oldest 95 years of age. The average age of the residents is 72 Years. 30 residents are male, and 13 residents are female. AGE RANGE OF CURRENT RESIDENTS 12 10 10 INNIN, 55-59 60-64 65-69 70-74 75-79 80-84 85-89 90-94 95-99

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 20241251Continued) During the year 1 new resident was offered, and accepted accommodation. The resident moved into a studio property at St James Close. WEEKLY MAINTENANCE CONTRIBUTION: ANNUAL REVIEW WITH EFFECT FROM 1ST APRIL, 2024 In recognition of the Govemment's guidance urging landlords to consider setting lower increases with effect from 1" April, 2023, the Housing Chariiy Trustees approved the average increase in the accommodation charge at 5.5 %. Costs for utilty contracts secured by the Charity in 2022 and 2023 resulted in a small increase in the heating and hot water charges. whilst the service charge continues to be heavily subsidised by the Charity. DEVELOPMENT PROGRAMME st James Close: Strateglc Plannlng St Jarnes Close estate continues to be monitored long term in relation to demand and its strategio geographical location within the City. As at 31 $t March, 2025. St James Close was 90f/io occupied. QUINQUENNIAL MAINTENANCE OF HOUSING STOCK 2022123 TO 2026127 Following approval by the Housing Charty Trustees of the portfoli¢>wide Quinquennial Maintenance Plan produced by Warburton Associates Design and Management Limited as it related to tasks classified as requiring attention within one year and after one year and within five years, the following programme of work was undertaken during the financial year:_ Maln rlce Close: Annual gas safety and cart￿n monoxide alami checks Annual grounds rna1ntenan￿ including cutting back overgrown shrubbery and trees New washing machine installed All guttering cleared of debris 5-year fixed wiring testing and inspections and remedial rectffications Upgrade of electricity meters (landlord's supply) to Smart meters St James Close: Annual grounds maintenance induding cutting back overgrown shrubbery and trees and clearing of leaves from the estate grounds General roof works.. (i) Supply and lay of new reinforcedlbreathable roofing felt on all flat roots and the Community CentrelLaundry {11) Mossllichens cleaned from ridge tiles and tiles treated with anti-fungicidal wash (iii) Repairs to roof eaves and vent pipes estate-wide All guttering cleared of debris 5-year fixed wiring testing and inspections and remedial recttfications Upgrade of electricity meters (landlord's supply) to Smart meters Winstanle Close: Annual grounds maintenance including cutting back overgrown shrubbery and trees All guttering cleared of debris New storage heaters installed in the Community Centre 5 year fixed wiring testing and inspections remedial rectifications New FD30s Fire doors and door sets to be fitted to all units New UPVC rear exit doors and door sets to be installed in all blocks New composite front entrance doors and door sets to be installed in all blocks ) Building Regs. approval awaited

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024125 (Contlnued) HEALTH AND SAFETY The Charity continued to work in liaison with Warburton Associates Design and Management Limited in their capacity as Health and Safety advisers. The stipulated timetable for Electrical Inspection Testing and remedial work was obseNed throughout the year. Laundry equipment, specifically the tumble dryers on each Estate, were inspected and serviced. Annual gas safety checks were undertaken and the appropriate Certificates issued. Cyclical inspections of occupied units and weekly fire call point and emergency light testing, trip hazard inspections and reporting. and internal inspections of void properties were carried out on all Estates. The Chariiy continues to WO￿ with Greater Manchester Fire and Rescue Service in offering residents Person Centred Fire Safety Assessments. The Person Centred Fire Safety Assessments, carried out by GMFRS personnel, offer residents advice on fire safety in the home. All residents are afforded the opportunity to avail themselves of a Person Centred Fire Safety Assessment. All units are fitted with smoke and heat detectors which are checked. seNiced and maintsined throughout the year. Control of Asbestos Regulatlons 2012 (CAR 2012) Annual Asbestos inspections were undertaken during week commencing 1 ￿ May. 2024. The summary of the survey results estate-wide showed no remedial or removal works required. The register has been updated accordingly. A rninimal presence of low grade asbestos content remain5 Wlthin the Charity's properties. Guarding against the risk of Legionella bacterla In water systems In compliance with Statute as an Almshouse provider weekly flushing continues to be undertaken to prevent the build-up of stagnant water in systems where water is not used on a regular basis e.g. estate Community Centres and void properties. Annual and monthly water temperature testing and Inspections were carried out by Airbome Environmental Consultants Limited and the required Log Books completed. SERVICES TO RESIDENTS (a) Resldent welfare Working with Greater Manchester Police as part of the Neighbourhood Watch Scheme, the Charity receives regular Police Newsletters throughout the year which are displayed in each of the estate Community Centres. A booklet produced by Age UK 'Avoiding Scams - Ways to Protect Yourself was displayed in each of the Estate Communty Centres. Mainprice Close has CCTV sunieillance and a business hours staff Ffesence. due to being located on the Headquarters office site. A Newsletter is issued to residents and informal interaction between residents and Headquarters personnel occurred during their weekly attendance on the estates for operational and safety monitoring purposes. Periodic reviews of the residents, circumstances were used as a means of identifying ways in which the Charity could offer support. The Charity's Annual Report is displayed in each of the estate Communty Centres and the Charty's Headquarters reception area. The total number of general maintenance repairs on all Estates for 202412025 totalled 103 as at 31° March, 2025.

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024125 (Continued) Over the ChristmaslNew Year period 2024, Salix Homes Limited. the Charity's Maintenance Contractor, provided a 24 hour Out of Hours Emergency call out service to make safelcarry out repairs for genuine emergencies. A Booth Charities grant was made available to enable all residents to re￿1ve a supermarket gift voucher at Christmas. Advice was provided to all residents on the Government Support Schemes for Winter 2024125 together with tips to stay safe and well over the Winter period. Residents were provided with the necessary informakn'on to claim Pension Credit (b) TV Llcences Following an amendment to the Communications (Television LI￿nsIng) Regulations 2004 paragraph 5(1) Schedule 4. funded by a Booth Chartties grant, Concessionary TV LiCen￿S were obtained for 22 eligible residents. (c) Houslng Benefiuunlversal Credlt New residents are signposted to Salford CAB for assistan￿ in submitting claims for Housing Benefit or Universal Credit. (d) Fuel Poverty Under the annual review of residents contributions, consonant with Govemment policy to combat fuel poverty, the Housing Charity continued to subsidise the charge to residents for background Heating and hot water supplies in applicable units. SUSTAINABILITY {a) INVESTMENT MANAGEMENT PERFORMANCE REPORTING: POSITION AS AT 31ST MARCH, 2025 Investment Policy and Performance The Humphrey Booth Housing Charity operates three different investment fvnds, each with an investment strategy appropriate to its objectives. These funds are managed by Sarasin & Partners LLP and Rathbone Investment Management Limited on a fully discretionary basis. As at 31° March 2025 Sarasin & Partners LLP managed portfolios on behalf of the Permanent Endowment Fund and the Development Fund, thilst Rathbone Investment Management Limited managed portfolios on behalf of the Pemanent Endowment Fund, The Development Fund and the Extraordinary Repair Fund. Further details of those portfolios are noted below, including the values, all on a bid price basis. Permanent EndowThent Fund Sarasin & Partners LLP As at 3151 March 2025 the portfolio was effectively fully invested in income units of the Sarasin Endowments Fund, with a very small balance in cash. As at 3191 March 2025, the value of the Permanent Endowment Fund managed by Sarasin & Partners LLP was £8,397,999 compared to a value of £8,293,024 as at 31. March 2024. This represented a total return increase in value of 4.1 % , net of fees. Over the same period. the composite benchmark for short-term performance measurement purposes rose by 4.9%. The composite benchmark is comprised of the relevant indices for the asset classes the manager is likely to invest in, weighted according to the managerfs long-term strategy and was amended from the beginning of June 2023 to remove a specific weighting in UK equities and it was, instead, managed on the basis of a fully global equity allocation. Accordingly, the benchmark applied frorn that date was 7.50/0 UK Government Bonds. 7.5 /0 Sterling Corporate Bonds, 1 Ooh Global Equities currency hedged, 60 % Global Equities currency unhedged, 5°/0 Property, and 10% Alternatives.

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024125 (Contlnued) The neutral allocation to sterling was also amended to 400/0 from 60°k previously. The long-term investment objective for the Permanent Endowment is to maintain the capital value by achieving an average capital growth after fees, over rolling five-year periods, equivalent to CPI as at 31 March each year, whilst adopting a medium risk profile. During the five years ended 31st March 2025 the portfolio recorded capital growth of 28.10/0. which was ahead of the 25.90h increase in CPI inflation over the same period. The strongest performing assets over the full 12 months were the alternative assets, led by the holding in gold. Although equities produced strong returns over most of 2024, as investors continued to be excited about the outlook for the large US technology stocks, much of these returns were given back in 2025. The Capital only returns compared to CPI inflation have been helped by the posittve returns from equities and alternattve assets as well as sl st inflation returning to lower levels. Income received over the year to 31 March 2025 amounted to £228,665 and there was also a fee rebate of £18.722 being the difference between Ihe standard fee charged within the Sarasin Endowments Fund and the actual fee rate negotiated with the manager. As the income generated by the portfolio was not required for immediate expenditure. Sarasin added this to the balan￿ held in the Permanent Endowment Income Reserve Portfolio. At the end of March 2025. the balance on this account stood at £722,121 and the cash was invested in the BlackRock Sterling Liquidity Fund, which is very well diversified. As a result of the reinvestment of the fee rebates received the number of units in the Sarasin Endowments Fund st held increased from 6,706,278 as at 31 March 2024 to 6,719,007 as at 31É1 March 2025. As at 3151 March 2025 the overall asset allocation within the Sarasin Endowments Fund was 68 % Equities, 10 % Fixed Income. 4°h Property, 100/0 alternative asset classes and 80/9 Cash. Rathbone Investment Management Limited As at 31° March 2025, the value of the Permanent Endowment Fund managed by Rathbone Investment Management Limited was £2,820,071 compared to a value of £2,827,649 as at 31. March 2024. Adjusted for income paid away. this represented a total retum increase in value of 2.2%, net of fees. Over the same period, the composite benchmark for performance measurement purposes rose by 5.7%. The composite benchmark is comprised of the relevant indices for the asset classes the manager is likely to invest in, weighted according to the managers long-term strategy. This was unchanged over the period. The investment objective for the Permanent Endowment is to maintain the capital value, after CPI inflation, over rolling five-year periods, whilst adopting a medium risk profile. During the five years ended 3141 March 2025 the Permanent Endowment portfolio recorded a rise in the capital value of 26.90/0, which was ahead of the increase in CPI inflation of 25.9 % over the same period. Over the last year, the portfolio's total return of 2.2 /0 was slightly behind the rise in the comparative benchmark of 5.70/0 largely because of their stance to be overweight in overseas equrtEs relative to UK equities over a period when the latter did better and because their US pharmaceutical holdings were particularly disappointing. Over the year the income fell to £70.509 largely because of the continued switch of some of the UK equity allocation into lower yielding overseas equities. A total of £70.907 was paid out to the Trustees, bank account over the year through quarterly standing order payments. As at 31° March 2025, the portfolio was directly invested in UK equities and a number of overseas equities, as well as a number of third-party pooled funds for other asset classes. The overall asset allocation was 66 % Equities. 200/0 Fixed Income, 2 % Property, 90 alternative asset classes and 30￿ Cash. The Development Fund Sarasin & Partners LLP st As at 31 March 2025 the portfolio was effectivety fully invested in accumulation units of the Sarasin Endowments Fund, with a small balance held in cash. As at 3151 March 2025, the value of the Development Fund portfolio was £2,215,423 compared to £2.129,258 as at 31st March 2024. The portfolio recorded a total return increase of 4.1 ¥0 over the year. Over the same period, the composite benchmark for short-term performance measurement purposes rose by 4.90/0. The composite benchmark is comprised of the relevant indices for the asset classes the manager is likely to invest in, weighted according to the manager's long-term strategy and was amended from the beginning of June 2023 to remove a specific weighting in UK equities and it was, instead. managed on the basis of a fully global equity allocation. -11

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024125 (Contlnued) Accordingly, the benchmark applied from that date was 7.50/0 UK Government Bonds, 7.5° Sterling Corporate Bonds. 10 % Global Equities currency hedged, 600/0 Global Equities currency unhedged, 5 % Property, and 100/0 Alternatr¥es. The neutral allocation to sterling was also amended to 40 % from 600/0 previously. The investment objective for the Development Fund is to maintain the capital value by achieving an average capital growih after fees. over rolling fve-year periods, equivalent to CPI as at 315t March each year, whilst adopting a medium risk profile. sin￿ the Development Fund is invested in accumulation units of the Sarasin Endowments Fund with income automatically reinvested, the capital return of the Sarasin Endowments Fund is not an exact proxy for the capital return achieved because it does not take account of any capital retum (or reduction) on the reinvested income. However, the underlying investment in the Sarasin Endowments Fund is the same as that held in the Permanent Endowment Fund, which saw its capital value rise by 28.10/0 over the rolling 5-year period. This was ahead of the rise of 25.9 % recorded by CPI over the same period. The strongest performing assets over the full 12 months were the altemative assets, led by the holding in gold. A￿hOUgh equities produced strong returns over most of 2024, as investors continued to be excited about the outlook for the large US technology stocks, much of these returns were given back in 2025. The capital only returns compared to CPI inflation have been helped by the equity retums as well as inflation returning to lower levels. Income generated by the holding in the Sarasin Endowments Fund amounted to £58,908 and this was automatically reinvested as accumulation units are held. The Development Fund also received a fee rebate of £4,897, being the difference between the standard fee charged within the Sarasin Endowments Fund and the actual fee rate negotiated with the manager. The fee rebate was used to purchase additional units in the Sarasin Endowments Fund and so the total number of units held was 599,770 as at 31. March 2025, cornpared to 598,650 as at 31st March 2024. The overall asset allocation within the Sarasin Endowments Fund was was 680h Equities, 100/0 Fixed Income, 40/0 Property, 10Yo alternative asset classes and 8 % Cash. Rathbone Investment Management Limited As at 31 March 2025 the value of The Development Fund managed by Rathbone Investment Management Limited was £2.522.588 compared with a value of £2,448,541, as at 3181 March 2024. This represented a total return increase of 3.0¥o, net of fees. Over the same period, the composite benchmark for performance measurement purposes rose by 5.2 % . The composite benchmark is comprised of the relevant indices for the asset classes the manager is likely to invest in. weighted according to the manager's long-tenn strategy and was unchanged over the period. The long-term investment objective for The Development Fund is to maintain the capital value, after CPI inflation, over rolling five-year pertods, whilst adopting a medium to lower risk profile. Over the five years to 31. March 2025 the portfolio recorded a rise in capital value of 31.6%, which was ahead of the increase in CPI inflation of 25.90A over the same period. Actual income St generated amounted to £63.424 and this income was reinvested. As at 31 March 2025. the portfolio was directly invested in UK equities and selected overseas equities and corporate bonds, as well as a number of third-party pooled funds for other asset classes. The overall asset allocation was 64 % Equities, 22Vo Fixed Income, 1 /0 Property. 6¥0 Altematives and 70A Cash. The Extraordlnary Repair Fund As at 31" March 2025, the value of The Extraordinary Repair Fund managed by Rathbone Investment Management Limited was £3,898.865 compared to a value of £3,803,475 as at 31. March 2024. This represented a total return increase in value of 2.5 %, net of fees. Over the same period, the composite benchmark for performance measurement purposes rose by 5.2%. The composite benchmark is comprised of the relevant indices for the asset classes the manager is likely to invest in, weighted according to the managerfs long-term strategy. which was unchanged over the period. The investrnent objective for The Extraordinary Repair Fund is to maintain the caprtal value, after CPI inflation, over rolling five-year periods, whilst adopting a medium to lower risk profile. In the five years to 31st March 2025 the portfolio saw the capital value rise by 27.10/0, which was ahead of the increase in CPI inflation of 25.90/0. -11-

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024125 (Continued) The amount of income generated by the portfolio decreased marginally to £102,967. As at 31 March 2025, the portfolio was directly invested in UK equities and selected overseas equities and corporate bonds, as well as a number of third-party pooled funds for other asset classes. The overall asset allocation was 630￿ Equities, 22% Fixed Income, 2Yo Property, 6Yo alternative asset classes and 7 % Cash. The Humphrey Booth Houslng Charlty Ethl¢al Investment Policy As already mentioned, the portfolios entrusted to Sarasin & Partners LLP are invested in the Sarasin Endowments Fund. This Fund operates an ethical policy that excludes tobacco producers or manufacturers of whole weapons systems, as well as companies that derive more than 10¥0 of turnover from products or services related to alcohol. tobacco, gambling or weapons systems related activities and a 5% turnover threshold is applied to the revenues of alcohol producers, gambling operations or adult entertainment. The policy was unchanged during the year. Sarasin & Partners LLP do not consider the policy to be so restrictive as to tr￿ likely to impact long-term performance. The Trustees have instructed Rathbone Investment Management Limited to avoid direct, and as far as is possible indirect, investment in companies involved in tobacco, alcohol, armaments. gambling or pornography. Rathbones keep the Charity regularfy Inform￿ of any potential breaches of this policy within the pooled funds held. (b) Flnanclal Review of Social Houslng Actlvlties The Charity relies on investrnent income from its endowment fund to allow a surplus on all activities before tsking into account investment gains and losses and this has been the case for a number of years. There has been a rise in income from letting activities because the Charity was able to increase weekly maintenance contributions by 5.5 % in accordance with the Govemment's Policy Statement on rents for Social Housing outlined on page 7 of this Report and as per the CPI + 1 0￿ formula prescribed by Central Government. Despite a 0.7Yo decrease in investment income there was an increase to income by 1.80A. A riselfall in share prices over the year created an unrealised gain of £171.194 (2023124: £1 ,188,648 gain) on investments. Investment managers are confident about the sustainability of investment income going forward. Ic} Reserves Policy At their meeting held on Friday, 12th July, 2024. the Housing Trustees approved and adopted the Reserves Policy for implementation, circulation to staff and annual review. Under the Reserves Policy the Housing Trust&s plan to hold a minimum of free reserves of £500.000 equating to 12 months, operating expenditure. As at 3181 March, 2025. the total funds of the CharÈty were £23,051,455 After deducting the Pemianent Endowment Fund £11,217,743 designated funds Extraordinary Repair Fund £3,730.135 and Development Fund £4,559,474 and funds tied up in fixed assets £1.532.576 the free reserves of the Charity totalled £ 2,011,527. -12-

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES. ANNUAL REPORT 2024125 (Contlnued) Due to the economic Un￿rtaIntieS associated with the war in Ukraine and the impact on the economic climate the Trustees consider it prudent to continue to maintain a higher level of reserves for the time being. The Trustees have given the Investment Managers for the Permanent Endowment Fund the task of maintaining the capital value of the fund, after inflation, whilst investing to a medium level of risk over a five-year cycle. It is producing sufficient income to allow the Charity to operate the ne￿SSary administratnie base, maintaining an operating surplus and attracting income from residents in line with what is considered fair and is compliant with the formula as prescribed by Central Government. The Trustees aim to maintain sufficient funds in revenue reserves to absorb all expenditure on charitable activities into the foreseeable future and authorised the creation of two designated funds through transfers from the revenue reserves for Extraordinary Repairs and a Development Fund. Again, the Investment Managers for the designated funds have been given the task of maintaining the capital value of the funds after inflation, whilst investing to a medium level of risk over a five year cycle. The building of the two new one bedroom bungalows will be funded from Ihe Development Fund reserves. The Extraordinary Repair Fund represents amounts allocaled to carry out major repairs on Housing Properties. The balan￿ as at 31" March. 2025 - £3,730,135. The Governing Order states that a reserve shall be maintained for the purpose of providing for the extraordinary repair, improvement or rebuilding of the Charity's property with a minimum annual transfer to the fund of £27,040. The Development Fund was created by ￿$OlUtion of the Trustees for use in a more major development project involving the units managed by the Charty should the need arise and in st accordance with the object of the Charity. The balance of the Development Fund as at 31 March, 2025 - £4.559.474. Pollcy for setting pay and remuneration of key management personnel The Board of Trustees consider the Chief Executive OfficerlHousing Manager. the Deputy Chief Executive Officer and the Accountant to be the key management personnel of the Charty in charge of directing and controlling the Charity and running and operating the Charity on a day-to-day basis. All Trustees give their time freely and no expenses were paid to Trustees in the year. Trustees are required to declare all relevant interests and register them with the Chief Executive OfficerlHousing Manager and, in accordance with the Charity's policies. withdraw from decisions where a conflict of interest arises. Key management personnel are also required to declare all relevant interests. In accordance with the Payment of Staff Policy document the salaries of the Chief Executive OfficerlHousing Manager, Deputy Chief Executive Officer and Accountant are reviewed annually and in general increased in line with the cost of living. In view of the nature of the Charity, lis economy of operations, and the extensive use of professional advisers to the Trust Board, the Trustees consider that a multiple of up to three times the median salary for UK employees is appropriate for those roles. The remuneration is also benchmarked wtth Charities of a similar size and activity to ensure that the remuneration set is fair and not out of line with those paid for similar roles.

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024126 (Continued) (e) Relatlonshlp with Related Partles Amongst the other Charities governed by the same Governing Order as this Charity (The Charities (Booth Charities) Order 1985), are the Humphrey Booth the Elder's Charity and the Humphrey Booth the Grandson's Charity both ofwhom have a relationship with this Charity. The nature of the relationship involves the apportionment of salary costs incurred inrtially by the Distributors to the Elder's and Grandson's Charities to the Humphrey Booth Housing Charity reflecting the joint contracts under which employees function. There are also recharges from the Housing Charity to the Distributors for the use of the administration building which is owned by the Housing Charity. GOVERNANCE (a) Problty and Transparency The Terms of Reference for the Investment Sub-committee, setting out a clear assignment of responsibility and accountability in the interaction between the Sub-committee and the Board of Housing Trustees, continue to provide measurable standards of probity, transparency and governan￿. Declaratlons of Ellglbllity for Appointment as Housing Trustees The Housing Trustees completed annual Declarations of eligibility for appointment as Housing Trustees in compliance with Charity Commission guidance CC5C requirements. The register will be maintained and updated accordingly. (c) Declaratlons of Interest (i) A Declaration of Interests enquiry from the Chair remains a standing item on all Board Meeting agenda. The Housing Trustees and key management personnel completed annual Declarations of Interest to facilitate the proper conduct of meetings and the maintenance of a register. (d) Standards of Business Conduct The Gift and Hospitality register was reviewed by the Housing Trustees who were satisfied that gifts received were of a value, and were processed. in compliance with the agreed criteria. {e) Prudence In order to deliver the Charity's Objects effectively, the Board of Housing Trustees:_ (i) has in place policies and procedures to control and manage reserves. integrates financial and strategic planning. ensures financial and strategic planning. manages risk via evaluation of pilot projects. has regard to the City-WKle Strategy for older persons services. (vi) takes appropriate professional advice. (vll) scrutinises annual budget statements. liv) -14-

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024125 {Continued) Ivili) considers Quarterfy Management Accounts; and the Annual Report and Accounts, at their formal Meetings. and requires that they are prepared in accordance with Statutory requirements, and the Almshouse Association and other good practice standards (f) Value for Money As per the Regulator of Social Housing regulatory expectations for social housing providers, the Charity recognises the importance of value for money considerations in every aspect of its work including, accounting, operational and procurement procedures. The Charity's standard is one of °Best Value., thereby incorporating a qualitative and quantitative measurement" and the Charity's Policies and Procedures reflect that position. During the year: Weekly Malntenance Contribution The weekly maintenance contribution (WMC) rates for 2024125 approved by the Housing Trustees were calculated in compliance with the formula prescribed by Central Government and observed the flexibility to apply a lower increase due to the highest rates of inflation and the impact on the cost of living. utilities: Gas. electriclty and waste and surface water In ensuring best value is obtained, Utility Aid on behalf of the Charity continue to undertake cost reduction exercises on the Charitls utilities charges. SSE (Scottish Southem Electric) were reappointed for a two year period 1 #t October, 2024 to 30° September. 2026. SSE (Scottish Southem Electric) were appointed as the Charity's gas supplier for the four year period 1 St November. 2022, to 30 October, 2026. Everfiow were reappointed for a three year period August. 2024, to August, 2027. (iii) Select Llst of Service Providers The List of approved Service Providers is reviewed triennially., and Tender and Quotations registers are maintained and submitted to the Board of Housing Trustees. The Charity continues to ensure value for money is achieved when procuring goods and ServI￿S by obtaining comparative quotations and where possible and appropriate, by using companies within the Charity's area of benefrt. -1

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024125 (Continued) (iv) Value for Money Metrics We report below the Charity's performance against the seven metrics required by the Regulator of Social Housing. Metric 2023124 Actual 2024125 Target 2024125 Actual 2025126 'Yarget Reinvestment % New su I delivered % Gearin Earnings Before Interest. Tax, Depreciation. Amortisation, Major repairs included (EBITDA MRI) Interest Cover Headline social housing cost per unit Operating Margin 0/0 (Social Housin Lettin sonl .0 eratin Mar Overall Retum on capital employed ROCE 8.880 13.12% -74.94 -62.15% £12,870 £17,061 £13,085 £18,407 6.(A) -82.98% -72.580/0 1.73% 1.58% 1.38% 'Operating Margin {Overalfj includes income and expenditure for investments -Target figures are derived from the 2024r25 and 2025126 Budgets respectively (v) Comparatlve Data The Charity has obtained comparative performance data from four registered providers offering affordable housing to the elderly. vulnerable adults aged over 55, purpose built for single people and couples and housing in rural areas. The number of units managed by the four registered providers ranged between 28 and 106. The table details the Charity's comparative performance in a number of key areas including.. number of stock managed turnover average re-let time weekly operating cost per unit operating cost as a percentage of turnover average weekly management costs per dwelling cost per property of housing management cost per property of responstve repairs and void works

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024125 (Continued) Metrlc Humphrey Booth Houslng Charity 2023124 Humphrey Booth Houslng Charity 2024125 stock Mana ed Turnover £000 Avera e re-let time da Weekl eratin cost er unit Operating cost as a percentage of tumover Average weekly management cost r dwellin Cost per property of housing mana ement Cost per property of responsive re airs and void works 44 290 154 177 44 307 96 198 140 148 412 397 435 940 The Charity was 910/0 occupied as at 31 March, 2025. During the year 5 properties were void, 1 of which was occupied attracts'ng 1 new resident. - The Charity's responsive repair costs reflect the excellent condttion of the properties and the benefit of having a portfolio-wide Cyclical and Quinquennial maintenan￿ Plan. COMPARATIVE DATA 2023/2024 100% 901JA £27.02 ,405.04 £573.32 800A 106 £12fj.30 103.63 £815.92. £54.03 £2,809.75 60010 83 154 6A 139. 9.12 ,514 28 £83.94 9&33 £36.40 £1,892.79 £990.32 £135,216 Stock Managed Tumover Average re- let time {daysl Weekly Operatlng Average Cost per Cost per operating C05t as a weekly property of property of cost per unit percentage management housing responslve management repairs and (Éi vold works (£) of tufnovfrr cost per dwelling IÉ) (£) UA B •Humphrey Booth Houslng oc The Charity's low number of stock managed and the level of subsidy provided means operating costs per property are higher than the comparators due to considerable fixed costs associated with being a registered social housing provider. No comparator provided infomiation for the average re-let days. -17-

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024125 {Continued) The Charity's responsive repair costs compare with the comparators due to maintaining the excellent condition of the properties and the benefit of a formal cyclical ar)d quinquennial maintenance plan. (g) Expenses staff salaries and the HMRC approved mileage rate are reviewed annually by the Housing Trustees as per Contractual commitments. (h) Common Reporting Standards The Charity is registered with HMRC for Common Reporting Standards purposes. A nil retum was submitted to HMRC on 1P January, 2025. GOVERNANCE LEVEL RISK MANAGEMENT (a) The Housing Trustees regularly reviewed the major risks to which the Charity was exposed and were satisfied that systems were in place to mitigate their exposures to major risks. Economlc Cllmate (b In consullation with Investment Managers and Professional Advisers, the position remains under close scrutiny in respect of the effect on the Housing Charity's portfolio of investment,. the implications in relation to the Charity's Strategic Priorities. and as a basis for determining ways to mitigate the risks. AUDIT SERVICES External Audit Services Beever and Struthers, appointed as External Auditors in 2015116. continued to provide External Audit servI￿s for the Financial Year 2024125. RISK MANAGEMENT Risk Management Pollcy and Strategy, Rlsk Evaluatlon and Risk Register The Risk Register is a standing item on all Board Meeting Agenda. The Housing Trustees reviewed the Risk Register in its entirety throughout the year. The risks related to Coronavirus (Covid-19) continued lo be managed throughout the year ensuring business continuity. Members of the Investment Sub-committee (Housing Trustees) undertook their Annual Review of Investments as at 31 sl March, 2025. and continue to review the fund portfolios quarterly. The performance report on investments is shown at pages 9 to 12. -1&

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024125 {Contlnued) ADMINISTRATIVE AND STAFF PIIArrERS At their Meeting held on the 12 Juw. 2024, the Housing Trustees reviewed and approved for implementation, circulation to staff, and review as indicated. the following Policy Statements'.- Reserves Policy - Annual Review Equal Opportunities- Statement of Principles Internet and Email Policy No Smoking and Vaping Policy stress Policy staff Grievance Procedure and Staff Disciplinary Procedure Anti-social Behaviour Policy and Procedure ) Triennial Review (b) At their Meeting held on Friday, 8th November, 2024, the Housing Trustees reviewed and approved for implementation. circulation to staff and triennial review the Standing Financial Instructions incorporating competitive tendering and quotation policy and procedures and select list of service providers policy. (c) Business Continuity Plan: Recovery or Replacement of Crltlcal Assets and Emergency Response Plan The Business Continuity Plan: Recovery or Repla￿ment of Critical Assets and Emergency Response Plan was continually reviewed and updated throughout the year. (d) GDPR Following the introduction of the GDPR legislation on the 25 May, 2018, work continues to maintain full compliance across the Charity's activities. (e) Training Throughout the reporting period. the Charty's personnel have attended 'virtual' rebevant webinars, and face to face training events. STRATEGIC ACHIEVEMENTS 202412025 (a Marketing Throughout 2024125. the Charity, via its continuing diverse Strategy in marketing its properties, reduced the number of void properties portfolio-wide achieving full occupancy at.. Winstanley Close for 9 months from 16tApril, 2024. to 23rd December, 2024 St James Close for 7 months from 27th April, 2024, to 17th December, 2024 As at 31st March. 2025, 910/0 of properties were occupied. (2024: 96¥0 occupied) Estate Redevelopment Plan It is anticipated that by August 2025, the Charty's Mainprice Close estate redevelopment project to build two. one-bedroom self-contained bungalow style housing will be completed. -1

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024125 {Contlnued) (c) Maximising Income Rigorous monitoring of weekly maintenance contribution payments. timely action in supporting residents in claiming welfare benefits, and advice and assistance in meeting their financial obligations, continued to result in tangible improvements to control arrears of resident maintenance contributions. As at 31" March, 2025, there were nil outstanding weekly maintenance contribution payments. (d) Housing Maintenance Contract The 'round the clock" responsive maintenance service wth Salix Homes Limited continued throughout the year. As at 31" March, 2025, the contract with Salix Homes Limited ceased. Holly Tree Maintenance Limited will undertake the maintenance service with effect from 151 April, 2025. with Out of Hours emergency repairs being undertaken by a local Salford based company namely Pro Active FM Limited. STRATEGIC PRIORITIES 202512026 The prime aims of the Charity are to continue to.. ensure residents, welfare is maintained improve standards of accommodation and communal facilities., and sustain the Charity's financial and strategic viability To continue to liaise with Salford City Council and other key stakeholders in order to identify the implications of public funding cuts for residents of Humphrey Booth Housing Charity almshouse accommodation.. and to manage the consequential changes in a way that is sensitive to the needs of residents and the wider communty. To keep under review Salford Cty Council's new five year Strategy 2023 to 2028 entitled "Homelessness is everyone's business. to minimise homelessness and provide suitable accommodation for the Charity's "preferred" client group of persons aged 60+ (Referents. The Charities (Booth Charities) Order 1985). To continue to work with Investment Advisers to improve the Charity's financial strength and mitigate risks. To continue to implement the programme of maintenance work as outlined in the approved Quinquennial Maintenance Plan for the 5 year period 2022123 to 2026127. To endeavour to maintain full occupancy of the Charity's accommodation. -21

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, ANNUAL REPORT 2024125 (Continued) FINANCIAL REVIEW OF FUTURE PLANS The Charity has sufficient reser￿e$ to m￿1 the Strategic Priorities for 202512026 both in temis of Endowment Fund investmenl income to sustain the levels of Servi￿ to residents, taking into account the risks already highlighted in the Financial Review of Social Housing ActivitEs aforementioned. and Designated Funds to carry out improvement works. There were also significant resources for the Charity to be in a position to respond to evolving needs in the community which will come to the Housing Trustees, attention through the monitoring measures described in the Strategic Priorities 202512026 aforementioned. REPORTING REGULATIONS The Housing Charity has complied with the Charities Statement of Recommended Practice (SORP) 2019 and the Accounting Direction for Private Registered Providers of Social Housing 2022 in the preparation of the Annual Accounts. Mrs M-L Wa ker JP DL Chairman of Trustees Mr J C Willis, CBÈ Trustee Mr D Haynes Chief Executive Officerl Housing Manager Date.. 81h August, 2025 -21-

STATEMENT OF COMPLIANCE WITH CORPORATE GOVERNANCE MATTERS The Trustees are responsible for ensuring that the Charity maintains a system of internal control, including suitable monitoring procedures. The system is designed to ensure that maintenance of proper accounting recor(Is and the reliability of the financial information, used with the Charity or for publication, but any such system can only provKle reasonable. and not absdLrte, assurance against misstatement or loss. The Charity's internal control and monitoring procedures include-.- (a) the control of key financial risks through cleady laid down authorisation levels and segregation, within practical limits, of accounting duties; periodic reporting of financial statements vrith comparison to budgets and explanations of variances. {c) reporting on compliance with intemal controls and procedures. The Trustees have reviewed the effectiveness of the system of intemal controls for the period covered by the accounts. Mrs M-L w<iker JP DL Chairman of Trustees -22-

THE HUMPHREY BOOTH HOUSING CHARITY TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The Chartiy Trustees are responsible for preparing a Trustees, Annual Report and Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi￿). The law applicable to charits'es in England and Wales require the Charity Trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the Charity and of the incomes reSoUr￿S and application of resources, of the Charity for that period. In preparing the financial statements. the Trustees are required to:_ selecl suitable accounting policies and then apply them consistenty" observe the methods and principles in the applicable Charities SORP: make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements. prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Charity ￿ll11 continue in busine5S. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any filme the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Chariiy and taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees on 8th August, 2025, and signed on their behalf by: Mrs PII-L Walker JP DL Chairman of Trustees -23-

Independent Auditor's Report to the Trustees of Humphrey Booth Housing Chari Opinion We have audited the financial statements of Humphrey Booth Housing Charity °the charity" for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the chartiy's affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Charities Act 2011 and the Accounting Direction for Private Registered Providers of Social Housing 2022. Basls for oplnlon We conducted our audit in accordance wff(h International Standards on auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evKlence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied. we have not identified any material uncertainties relating to events or conditions that, individually or collects-vely, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. other Infomiation The other information comprises the infomiation included in the annual report. other than the financial statements and our auditor's report thereon. The trustes are responsible for the other information. Our opinion on the financial statements does not cover the other information and. we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other infomation is materially inconsistent wrth the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have perfomed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. -24-

Matters on which we are required to report by exceptlon We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: in the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report- or proper accounting records have not been kept. or the financial statements are not in agreement with the accounting records. or we have not received all the information and explanations we require for our audrt. Responsibilitles of trustees As explained more fully in the statement of Trustees. Responsibiltties in Relation to the Financial Statements set out on page 25, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free frorn material misstatement, whether due to fraud or error. In preparing the finanaal statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Audltorfs responsibilities for the audit of the flnancial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf, individually or in the aggfegate, they could reasonably be expected to Influen￿ the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of Irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud. is detailed below. The extent to which the audlt was considered capable of detecting Irregularities includlng fraud Our approach to identifying and assessing the risks of material misstatement in respect of irregularities. including fraud and non-compliance with laws and regulations, included the following.. We obtained an understanding of laws and regulations that affect the charity, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. We enquired of the trustees and reviewed correspondence and trustee Board meeting minutes for evidence of non-compliance with relevant laws and regulations. We enquired of the trustees about any inciden￿S of fraud that had taken pla￿ during the accounting period. The risk of fraud and non-complian￿ with laws and regulations was discussed within the audit team and tests were planned and performed to address these risks. We enquired of the trustees about actual and potential litigation and claims. We performed analytical procedures to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud. In addressing the risk of fraud due to management override of internal controls we tested the appropriateness of journal entries and assessed whether the judgements made in making accounting estimates were indicative of a potential bias. -2&

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities. as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.frc.or . uklauditorsres onsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charity's trustees. as a body. in accordan￿ with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Beever and Struthers, Statutory Audltor Suite 16B The Beehive Lions Drive Shadsworth Business Park Blackburn BB12QS Date: 25 September 2025 Beever and Struthers Is ellglble to act as auditor of the charlty by vlrtue of its ellglblllty for appointment as auditor of a company under section 1212 of the Companles Act 2006.

THE HUMPHREY BOOTH HOUSING CHARITY STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2025 Unrestrlcted Endowment funds funds Total funds 2025 Notes 2024 Income and endowments from: Charitable actNilies- social housing SeNice level agreement Investments 273,793 33,143 269,357 299.226 875.518 273,793 33,143 631,002 258,357 31.484 631,247 361,645 1299,226) 62.420 Transfer to income Total Incomè 937,938 921,088 Expenditure on: Raising funds - Inveslment Management Fees 43,259 58.058 101,317 94,536 Charitable activities 471.698 514.957 471,698 573,015 436,888 531,424 Total Expendlture 58,058 Net Incomel (Expenditure) 360,561 4,361 364,923 389,664 Net gainsl(losses) on investments 10115 78,245 92,949 171.194 1,188,648 Net movement in funds 438,807 97,310 536,117 1,578.312 Reconciliation of funds: Total funds brought fonvard Total funds carried fO￿ard 11.394.906 11.833,712 11,120,433 22,515,339 20,937,026 11,217,743 23,051,455 22,515,339 Note 23 {Page 42} - Comparative Statement of Financial Activities - 2024 The financial statements on pages 27 lo 42 were approved and authorised for issue by the Trustees on 8th August. 2025, and nedont eir behalf by.. MrsML Chairman alker, JP DL MrJ C Willis. CBE Trustee MrDHay Chief ExeculNe Officer IHousing Manager The results relate wholty to continuing actNities and the notes on pages 30 to 42 form an integral part of these accounts. -27-

HUMPHREY BOOTH HOUSING CHARITY BALANCE SHEET AS AT 31 MARCH 2025 Notes 2026 2024 Flxed assets Tangible fixed assets Investments 1,532,576 19,854,947 1,421,610 19,501,948 10 21,387,523 20.923,558 Current assets Debtors 11 11,801 11,751 Cash and cash equivalents.. Investments- deposit accounts Cash at bank and in hand 581,349 564,158 1.158,892 1,103,057 Total cash and cash equivalents Total current assets 1.7S2,042 1.667.216 Croditors: amounts falling due within one year 12 188,110) {87,186) Net current assets 1,663,932 1,591,781 Net assets 23,051,455 22,515,339 The funds of the charity Permanent Endowment Fund- Reserves 13 11,217.743 11,120,433 Unrestrlcted Funds Development Fund - Reserves Extraordinary Repair Fund - ReseNe$ Revenu8 Reserves 14b 4,559,474 4,557,406 3,730.135 3,338,881 205,222 3.641.908 15 2,990.371 205,222 Social Housing Grants Fund Total unrestricted funds 1115 11,833,712 11,394,906 Total charlty funds 15 23,051,455 22,515.339 Approved and authori for issue by the Trustees on 8th August, 2025. and signed on their behalf by.. MrsML Wa Chairman ker, JP DL Mr J CTrn￿CBE Trustee Mr D Haynes Chief Executive Officer IHousing Manager The results relate wholly to continuing adivities and the notes on pages 3010 42 foffn an integral part of these accounts. -28-

HUMPHREY BOOTH HOUSING CHARITY STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2026 2025 2024 Cash used in operating activities 175,040) (59,029) Cash flows from inveslment activities Investment and Interest Income 325,143 314,699 Purchase of tsngible fixed assets (177.079) {197,488} Cash provlded by Investlng actlvltles 148,065 117,211 Changes in cash and cash equivalents during the year 73.025 58,182 Cash and cash equIva￿ntS al the beginning of the year 1,667,216 1,809.033 Total cash and cash equlvalents at the end of the year 1,740,241 1.667.216 Reconciliation of net movement in funds to net cash flow from operating aclivilies Net movement in funds 536,117 1,578,312 Add back depreciation charge 65,410 66.176 Add back loss on disposal of frAed assets Add back in investment management fees deducted at source from investment income 702 101.317 94,536 Deduct interest income shown in investing acts"vities Add back lossesl(Deduct gains) on investments Decreasel{Increase) in debtors {Decrease)Ilncrease in creditors Net Cash used In operating activities {608.266) {612.556) {1,188,648) 6,963 (3,812) 159,029) 150) 924 175,040} -29-

HUMPHREY BOOTH HOUSING CHARITY NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES Basis of Accounting The financial statements have b￿n prepared in accordance with Accounting and Reporting by Charities: Statement of Recornmended Practice applicable to Charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102) (effective 1 January 2019) - {Charilies SORP {FRS102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Charities Act 2011. as amended by the Charities Act 2022 and the Accounting Direction for Private Registered Providers of Social Housing 2022. The accounts are presented in £ sterling. The majority of the figures in Ihis document have been rounded lo the nea￿$1 £. This means that there may be very minor inconsistencies btheen tables and notes due to rounding adjustments. The Charity constitutes a public benefit entty as defined by FRS102. Golng Concern Having reviewed the following throughout the Financial Year. the Trustees are Gonfident Ihal the ac¢ounls are drawn up on a goin9 Con￿rn basis.'_ Investment management performance Cash flow forecasts Annual Budgel Statement Management Accounts Financial Statements Moreover, the Trustees have re￿Wed the future funding requirements and are satisfied that the Charity has secured adequate and diversrfied resources to continue as a going concern for the foreseeable future. These resources comprise cash deposits guaranteed under the Financial se￿ICes Compensation Scheme and investments in UK and Global Equities. Fixed Interest and Allemative Assets managed by professional Investment Managers and reviewed by Independenl Advisers appointed by the Charity. The Charity's housing units are proving to be in demand, wilh nil voids on occasion. A summary of the more important a¢¢ounting policies, which have been applied consistently. are set oul below. Income Recognltlon Income from charitable acttvitses represents weekty maintenance contribution income and seNice charges ¢eivable. Investment income represents dividends and interest receivable. Expendlture Recognition Liabilities are recognised as expenditure as soon as there is a legal or Constructive oblHJation committing the Charity to that expenditure. it is probable that settlement )Mll be ￿qUired and the amount of the oblTrgation can be measured reliabty. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expendrture headings. Cost of raising Funds The costs of generating funds consist of investment management costs. -3Lk

HUMPHREY BOOTH HOUSING CHARITY NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES (continued) VAT The Housing Charity is not registered for Value Added Tax. Penslon Costs The Housing Charity ¢)ffers contributions in respect of all eligible employees. These are charged to the Income and Expend￿Ure Account as incurred. Unreallsed Galns and Losses Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Houslng Charlty Property and Capitslisatlon of Houslng, Land and Bulldlngs (Freehold) Housing Charity properties are principally properties available for letting and are stated at cost. The cost of properties is their purchase price logether with incidental ¢osl of acquisition, administration costs and interest payable up to date of practical completion. The cost of further v￿rkS to propert18s are capitalised where the requirements of the Accounting Standards are met. Works which enhance the property value by increasing v￿eklY maintenance contributK*n levels, reducing Costs or increasing the life of the asset are capitalised. Development administration costs wh￿h can be shown to be directly atlributable to the development activity are added to the cost of fixed assets in the balance sheet. W)ere development and administration ¢osts are incurred intemally or in providing serV￿S to other organisations which cannot be recovered they are taken to the income and expenditure account. Depreciation of Houslng Land and Buildings Fixed Assets are depreciated at rates calculated to write down the net book value to their estimated residual value, on a straight line basis. over the expected remaining usefvl life of the particular asset. The depreciabl8 amount will be recognised in the Statement of Financial Activity over the useful life of the asset.The requirements of Component Accounting have been consKJered and fully refie¢ted in the Financial Statements produced for 2024125. Depreciation of the asset value of each property is calculaled w￿h reference lo ils remaining useful life. The following components are determined and recognised under the definition of enhancement. Improvements Slrudure Roofing Windows, External Doors. Central Heating and Bathrooms Kitchens and Other Fixtures Useful Economic Life 50 years 40 years 25 years 5 years Properties are maintained to a high standard through a continuing programme of refurbishment and rna1ntenan￿. Impalrment The Trustees have reviewed the book values of properties at the year4nd for the possibility of impairment and do not consider that any such write4own is required. -31-

HUMPHREY BOOTH HOUSING CHARIPI NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES (contlnued) Depreclatlon of other Fixed Assets Tangible fixed assets, except housing properties, are stated at cost less accumulated depreciation. Depreciation is charged on a straight line basis over the expected economic useful lives of the assets as follows: Asset Class Freehold Property Equipment Useful Economic Life 50 years 5 years Financlal Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basi¢ financial instruments. Basic financial instruments are initially recogni8ed at transa￿lOn value and subsequently measured al their settlement value. Fixed Asset Investments Investments are a form of basic financial instrument and are initkqlly recognised at their transaction value and subsequently measured at their fair value as at the balance sheel date using the closing quoted market price. The statement of financial acts'vities includes the net gains and losses arising on revalualion and disposals throughout the year. The Charity does nol aquire put options. derivatives or other complex financial instruments. The main fomi of financial risk faced by the Charity is that of volatility in equity markets and investment markets due to wider econt)miG conditions, the attitude of investors lo investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors. Debtors Trade and other debtors are recognised at the settlement amount due after trade discount offered. Prepayments arè valued at the amount prepaid net of any trade discounts due. Cash and cash equivalents Cash and cash equivalents indudes cash and short tem) deposf(s with a maturty of three months or less from the date of acquisition or opening of deposrt or similar accounts. It also includes current asset investments invested on a short tem basis with a maturity of twelve months or less from the date of acquisition. Credltors Creditors 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 are normally rècognised at their settlèment value after allowing for any trade discounts due. Grants Income from government and other grants. whether'capilal, grants or 'revenue' grants, is recognised when the Charity has entitlement to the funds, any performance conditions attached to the grants have been mel, it is probable that the income will be received and the amount can be measured reliably and is not defeNed. Social Housing Grant {SHG) must be recycled by the Charity under certain conditions. if a property is sold, or if another relevant event takes place. In these cases, the SHG can be used for projects approved by the Regulator of Social Housing. In certain circumstances, SHG may be repayable, and. in that event, is a subordinated unsecured repayable debt. -32-

HUMPHREY BOOTH HOUSING CHARITY NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES (contlnued) Endowment Funds and Des5gnated Reserves: (l} Perrnanent Endowment Fund The Trustees may apply the income from the Fund in furihering the Objects of the Housing Charity and the investment income is transferred to unrestricted funds in lin8 with the Charily SORP requiremenls. {11) Deslgnated Reserves (Development Fund) This designated reserve represents amounts earmarked to support Ihe Triennial Housing Strategy. {iii) Deslgnated Reserves (Extraordlnary Repair Fund) This designated reserve represents amounts allocated lo cary out major repairs on Housing Properties. Actual expenditure incurred on extraordinary repairs is charged to the Income and Expenditure Account as part of operaling costs and transfers of funds are made behveen the Income and Expenditure Account and the Extraordinary Repair Fund to adjust the latter to the detemiined yearond balance. (Iv) Deslgnated Reserves (Soclal Houslng Grants Fund) In accordance with the Charities SORP FRS102, grants received from govemment have been treated as income and added to reserves. the fund is hekj separately from unrestricted reserves ￿flectIng the possibility of a repayment demand from the social housing authority. (v) Judgements and Estlmates In the opinion of the Trustees there are no key Judgements or Estimates to be disclosed.

HUMPHREY BOOTH HOUSING CHARITY NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 CHARITABLE ACTIVITIES - SOCIAL HOUSING ACTIVITY 2025 2024 Income from letting activities Weekly maintenance contribution receivable nel of identifiable servi charges Service charges receivable 245,537 35,464 281,001 (9.569) 271,432 2,361 273,793 233,248 34,892 268,140 (12,074) 256,068 Voids Net weekly maintenance contributions recervable Other income from social housing lettings Total income from $¢xial housing actiwties 2,291 258.357 Operating and 'nonaoperating expendf(ure Housing management Services 17.480 99,080 41,371 18,111 68,531 Routine maintenance 19.146 Cyclical maintenance and Repairs and Improvements Govemance costs 36,121 22,923 150,662 65,410 51,362 27.232 150.747 Staff costs Depreciation Other costs 66.176 38,651 35.583 Total expenditLtre on social housing activities 471.698 436,888 Operating deficit on social housing lettings "Non-operating expenditure ￿lateS to quinquennial and other costs 1197,905) {178,531) GOVERNANCE COSTS Audit and accountancy Professional fees 12,376 10,547 21,507 5.725 Total governance cost 22,923 27,232

HUMPHREY BOOTH HOUSING CHARITY NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES 2025 2024 Wages & Salaries Agency Staff Social Security Cost Pension Costs 127,944 4,700 10,835 7,183 150,662 132,572 10,785 7,390 150,747 The above figures represent 500fi of the full salary costs. The Chief Executive OfficerlHousing Manager and all staff are joint￿ employed by the Distributors of the Booth Charities and the Humphrey Booth Housing Charity 50f/*o of salaries are recharged to the Humphrey Booth Housing Charity as management fees to refiect the time spent on its activities. The number of staff whose remuneration exceeded £60,000 was 112024- 1) within the band £80,001- £90.000. The total annual salary paid lo the Chief Executive OfficerlHousing Manager across the Charities excluding personal pension contributions was £87.056.3012024.- £78,681.73). The total number of staff employed during the year was 1012024 - 9) with all employee time involved in providing either support lo the governance of the charily or support services to charitable actbvities. The average number of staff 8mployed during the period was 7.5 {2024 - 9). The averagé number of full time equwalent employees during the year based on a 35 hour week was 2.712023- 3.2). The Charity contributes up to 6°h of staff salaries matched to employee contributions to Personal Pension Plans and NEST through auto-enrolment. Pension costs in respecl of the personal pènsion arrangements of employees was £7,183 (2024 - £7,390). The 6% personal pension contributions in respect of the Chief Executtve OfficerlHousing Manager across the Charities was £4,667.09 (2024 - £4.720.87). The Chief Executive OfficerlHousing Manager is an ordinary member ofthe pension scheme. There is no individual pension arrangement for the Chief Executive OfficerlHousing Manager to wh￿h the Charity contributes, and no enhanced or special terms apply to the Ch￿f Executive OfficerlHousing Managerfs pension. The key management personnel of the Charity comprises the Trustees. the Chief Executive OfficerlHousing Manag6r, Deputy Chief Executive Off￿er and Accountant. The lolal employee remuneration of the management personnel of the Charity including Nl was £101.599 {2024 - £93.009). The lotal emFloyee benefits ofthe management personnel of the Charity including Nl and pension costs was £106,694 {2024- £98,012). Arrangements forsettlng pay and remuneratlon of the key management personnel of the charlty The Housing Charity Trustees are voluntary and not remunerated. Travel expenses during the year tolalled £19.95 {2024'. £Nil). No Trustee received payment for professional or other services supplied to the Charity (2024.. £Nil). Annually, the budget for the ensuing year, including salary costs is considered by the Housing Charity Trustees at their March meeting. The budgeted salary cost takes account of the contractual Annual Revtew. The Charity sets pay and remuneration of key managemenl personnel (the Chief Executive OfficerlHousing Manager, Deputy Chief Executwe Officer and Accountant) by benchmarking against the charitable seclor. The Housing Charity Trustees annually review pay and remuneration of all staff. A salary increase was awarded under the contractual Annual Review. AUDITOR'S REMUNERATION Amounts payable in respe¢t of external audrt fees were £11.246 exc. VAT12024'. £13,270 exc. VAT). Amounts payable for intémal audit seN1￿$ were £nil exc VAT (2024.. £4.185). 45-

HUMPHREY BOOTH HOUSING CHARITY NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 DEPRECIATION CHARGES Note 9 details the depreciation charge on Social Housing properties £55.952 (2024= £56,600). The depreciation charge on Freehold Land and Buildings is £5,32512024'. £5,325) and on Equipment is £4,13312024'. £4,250). INVESTMENT INCOME 2025 2024 Dividends & interest on managed funds Bank interest receivable 608,266 22,736 612,556 18,691 631,002 631,247 Interest recetvable relates to bank deposit and investment interest. TAXATION There is no liability to Corporation tax on the result for the year as the Housing Charity claims charitabl& relief under section 505 ICTA 1988 in respect of its actwities. TANGIBLE FIXED ASSErs Freehold 'land and buildings Soclal houslng proporties Assets under conslructlon Equipment Total Brought forward at 1 April 2024 Additions 2,224.785 266.274 94,939 2,585,998 12.145 157.305 7.628 (3.383) 99,185 177,079 {3,383) 2,759,694 Disposals at 31 March 2025 2.236,930 266,274 157,305 Deprèciation Brought forward at 1 April 2024 Provided in year Depreciation on disposals Carried fornprd at 31 March 2025 1986,424) (93.044) (84.920) {1,164,388) (55,952) (5,325) (4,133) 2,681 (65,410) 2,681 (1.042.376) (98,3701 (86,372) (1,227.1181 Net book value at 31 March 2025 1,194,554 167,904 157,305 12,813 1,532,576 at 1 April 2024 1,238,361 173.230 157,305 10.019 1,421.610

HUMPHREY BOOTH HOUSING CHARITY NOTES TO THE AccouTrrrs YEAR ENDED 31 MARCH 2025 TANGIBLE FIXED ASSEfs (Cont'd) During the year works to properties of £12.145 were capitalised {2024: £176,268) whilst £77,492 (2024.. £70,508) were expensed lo the Income and Expenditure Account. 'Pursuant to the provisFons of the Charity Commission Scheme {Statutory Instrument No. 1935) goveming the Housing Charity dated 10th December. 1985, the legal estate in the land and property of the Housing Charity is vested in the Trustees of the Booth Charities as bar8 Trustees for the Housing Charity. 10 INVESTMENTS 2025 2024 at 1 April 2024 Cash MoveffEnt 19,501,948 205,090 147,909 18,109,979 209,342 1.182,627 Unrealised gainsl{losses) in year at 31 March 2025 19,864,947 19,501.948 The investments are held with Sarasin & Partners LLP and Rathbone Investment Managers Limited. The historic cost of these investments at 31st March, 2025, was £14,906,109 (2024.. £14,433,990}. Investments are shown at market value at the balance sheet date. 2025 2024 The Investments comprlse: Fixed Interest 2,981,201 2,897,760 10,471.782 401,650 3,201,269 3,233,000 10,645,415 370,988 UK Equities Global Equities Property Alternative Assets 1,715,322 1,387,232 1,504,951 546,324 19,501,948 Liquid Asseis Reported Balan￿5 19,854,947 Market value of Investments greater than S°h of total investment Sarasins Endowment Funds (fomiedy the Alpha CIF for Endowments). which is 53% of total investments. -37-

HUMPHREY BOOTH HOUSING CHARITY NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 2025 2024 11 DEBTORS Weekly Maintenance Contribution deblors Prepayments and accrued interest 2,265 1,599 9.536 10,152 11,801 11,751 12 CREDITORS.. amounts falling due within one year Other creditors 31,62S 56.485 29,298 57,888 Accruals and deférred income 88,110 87,186 13 PERMANENT ENDOWMENT FUND (Roservès) Balance at 1 April 2024 Transfer between funds 11.120,433 10,387,987 Income 62,420 57,249 Expenditure 158,058) {55,248) Unrealised revaluation gainsl(losses) on investments Balance at 31 March 2025 92,949 730,445 11.217.743 11,120,433 Included within the Permanent Endowment Fund is a gain of£92.949 (2024= gain of£730,445} relating to unrealised gainsl(losses) on investments.

HUMPHREY BOOTH HOUSING CHARITY NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 2025 2024 14a DESIGNATED RESERVES {Extraordinary Repair Fund - Reserves) Balance at 1 April 2024 3,644,908 111,000) 10,140 3,558,377 (172,601) 165,291 104.881 (17,193) (23,887) 27,040 Transfer be￿een funds Unrealised revaluation gainsl(kssses) on investments Investmer¢t income 102,967 {18,619) {22,300) 27,040 Expenditure Movement in the year transferred from Income and Expenditure account Statulory Annual Transfer Balance at 31 March 2025 3,730,135 3,641,908 Included within the Extraordinary Repair Fund is a gain of £10.140 (2024= gain of £165,291) relating to unrealised revaluation gainsllosses on investmenls. The Charities {Booth Charities) Order 1985 requires the transfer of a yearly sum of not less than £27,040 to the Extraordinary Repair Fund. 14b DESIGNATED RESERVES (Dèvelopment Fund - Reserves) Balance at l April 2024 Transfer be￿een funds 4,557,406 (157,735) 44,820 138.590 (23,606 4,559,474 4,175,138 (19,278) 286,891 136,381 {21,726) 4,557,406 Unrealised revaluatton gainsl(losses) on investments Investment income Expenditure Balance at 31 March 2025 Includèd within the Development Fund is a gain of £44,820 (2024- gain of £286,891) relating to unrealis8d revaluation gainsl(losses) on investments. 15 RECONCILIATION OF FUNDS AND MOVEMENTS ON RESERVES. Unrestrlcted Reserves Designated Reserrfe Funds Pemianent Endovmient Fund Revenue Reserve Fund Total at 1 April 2024 Transfer be￿een funds 11,120,433 3,195,592 163,995 633,982 (472,732) 23,285 8,199,314 22,515,339 (163,9951 241,556 937,938 (42,225) (573,015) 54,960 171.194 Income 62.420 (58.058) 92.949 Expenditure Gains on investnpnts Carrled fonvard at 31 March 2025 'See 2024 comparalive on page 40. The total Revenue Reserves of £3,544,102 include the Social Housing Grant Fund of £205,222 for 2024125 11,217,743 3,544,102 8,289,610 23,051,455 -39-

HUMPHREY BOOTH HOUSING CHARITY NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 RECONCILIATION OF FUNDS AND MOVEMENTS ON RESERVES- 2024 COMPARATIVE Unrestrlcted Reserves Revenue Deslgnated Reserve Reserve Fund Funds Pemianent Endowment Fund Total at 1 Aprll 2023 Transfer behveen funds 10,387,987 2,8IS,524 188,726 622.578 (437.257) 6,021 7,733,515 20,937,026 {188,726) 241,262 921,089 (38,919) (531,424} 452,182 1,188,648 8,199,314 22,515,339 Income 57,249 {55,248) 730,445 Expenditure Loss on investments Carried forward at 31 March 2024 11,120,433 3,195,592 16 ANALYSIS OF NET ASSETS BETWEEN FUNDS Pomianent Endovmient Fund Unrestrlcted Funds Total Tangible fixed assets Investments 1,532.576 8,636,876 1.740,241 (76,309) 11.833,385 1.532,576 19.854,947 1,740,241 (76.309) 23,051,455 11.218.070 Cash at bank and in hand Other net current assets 11,218,070 ANALYSIS OF NET ASSETS BETWEEN FUNDS- 2024 COMPARATIVE Pemianent Endowment Fund Unrestricted Funds Total Tangible fixed assets Investments 1,421,610 1,421,610 11,120.673 8,381,274 19,501,948 Cash at bank and in hand 1,667,216 (75.435) 11,394,665 1,667,216 (75,435) 22,515,339 Other net current assets 11.120,673 40-

HUMPHREY BOOTH HOUSING CHARITY NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 17 NUMBER OF UNITS IN MANAGEMENT The total number of units in managemenl is 44 (2024- 44), with an additional 2 units under construction which will become available in Financial Year 2026. 18 CAPITAL COMMITMENTS At 3151 March, 2025. there is a capital commitment of approximatety £315.600. 19 CONTINGENT UABILITIES At 31al March, 2025, there were no known material contingent liabilities. {2024.' £Nil). 20 RELATED PARTIES The Goveming Order ofthe Charity is the Booth Charities Order 1985. This document also governs The Humphrey Booth The Eldels and Grandson's Charities. The Distributors ofthat Charity administer and manage the Housing Charity. The an￿Unt owed to Ihe Dislributors of The Booths Charities at 31 March 2025 was £31,625 {2024.' £29,287). The amount of management charges in respect of salaries charged from the Distributors ofThe Booth Charities to the Housing Charity was £150.661 (2024.. £150,747). The amount of running costs charged to the Distributors of The Booth Charities was £33,143 (2024.. £31.484). Under the terms of the Governing Order, three Housing Truslees are appointed by the Council of the City of Salford. All transactions with Salford City Council are on normal Commercial terms. In ¢ontracting for seNices and suppliers. the Charity addresses the potential for Housing Trustees, conflict of interest, via the procedures outlined under the Governance seCt￿n on Pages 14 to 18 of the Annual Report" and adherence to the Standing Financial InstructK)ns, incorporating Competitive Tendering and Quotation Policy and Procedures., and the Select List of Service Providers.. Policy. 21 LEGISLATIVE PROVISIONS The Charity is governed by Stalulory Instrument - The Charities (Booth Charities) Order 1985, and ils registered Charity number is 1072080. 22 CASH INVESTMENTS Cash investments in deposit accounts were £581,349 (2024: £564.1581 at year end. 41-

HUMPHREY BOOTH HOUSING CHARITY NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 23 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES- 2024 Unrestrlcted funds Endowment funds Total funds 2024 Notes Income and endovmients from: Charitable activities -social housing Servtce level agreement Investments 258,357 31.484 270,801 303,197 863,839 258,357 31,484 631,247 360,446 {303.197} 57,249 Transferto income Tolal Incomè 921.088 ExpendSture on: Raising funds - Investment Management Fees Charitable activilies 39,288 436,888 476,176 55,248 94,536 436,888 531,424 Total Expénditure 55,248 Nèl Incomel (Exp8nditurel 387,663 2,001 389,664 Net {bsses)Igains on investments 10 458,203 730,445 1,188,648 Net movement In funds 845.866 732.446 1.578,312 Reconciliation of funds: Total funds brought forward Total funds carrled fovNard 10,549,039 11,394,906 10,387,987 11,120,433 20,937,026 22,515,339 42-