Company registrfttion number.. 03904084 Charity registration number.. 1079744 Hadley Wood Association IA Company limited by gJaTantee) AnrMJal Report and Financial Statements for the Year Ended 30 Septsmber 2025 Sanpv Sheth. BFP FCA Chartered Accounlanl Binsam AccountanGy SeryiGes 65 Fitzphn Avenue Bamet Hertfordshire EN5 2HN Hadley Wood Assoclatlon Contents Page Reference and Administrative Details Trustees, Report ststewnent of Trustees. RespOn￿bi￿tieS Independent Ex8mlnerfs report Stslement of Financ5al Adivilies Balance Shèèt Notes to the Financial Statements 9-14 HWA Gr&en Bett Fund In￿me and Expenditijre Account 15 Hadley Wood Asso¢lation Reference and Admlnlstralive Details Chainn Mr Robert Graham Nlson Mr Robert Graham Wilson Mrs Elizabeth Snape Mr Rupert Mackay (resigned on 26 November 2024 Principal HWA Centre 1-7 CTes¢ent East Barnet HertfoTdshire EN4 OEL Company re￿$Iration number 03904084 (Th8 Charity is inccwated In England) Cha¥ity registralion number 1079744 Charity website http'.//www.hadleywood.org.ukl In¢kpendent Examkner Saniiv Sheth, BFP FCA CharteTed Accountsnt Binsam Accountancy SeThlces 65 Fitziohn Avenue Bamel Hèrtfordshire EN5 2HN Hadley Wood Association (Charlty number: 1079744 Trnstees. Rèport The trustee5, who are directors for the purpose5 of company law. present tre annual report together wth the financial ststements of the charitable company forthe year ended 30 September 2025, in Complia￿e wth $414C of the Companies Act 2006. ObJ9¢tlv￿, stratsglgs and actlvltlgs The inc(me 8nd 888et8 of the Charity are applied solely toward8 the promotion of its objects as set out in the Articles of A$￿¢latiOn. In summary. these are,, To promote the benefit and improve the conditions of life of the inhabitants of Hadley Wood. To adv8nce education and provide fa¢ililie$ for recreation and leisure. To preserve, protect and improve features of historic or public interest. • To maintain and manage propety and land owne(l or leased by the Association. The 2025 year h88 seen a further restoration towards balance (after substantial deficits in 2022 and 20231. Stripping out the segregated Grèèn Best expenditiife (paid out of appe81 funds), the HWA had defiat reduced to about £11,000 (from £28.000 last yearl. Cash reserves have redu¢ed to £33.000 (from £39,000 last year). The Association is currently seeking lo appoint a Ihird Trustee and a Treasurer. Statèmènt of Public Benefit The trustees confirm that they have complied with the requirements of sect¥on 17 of the Charities Act 2011 to have due regard to the public b8nefit guidance publish8d by th8 Charity Commission for England and Wales. Structure. governance and management Objectives and pollcles The Charity's a¢ts"vities expose it lo a number of financial risk5 including credrt risk, cash flow risk and liquidity risk. Th& trustees have assessed the m8jor risks to vh)ich the organisation is exposed, in particular. those which moy affed their operations and finances, and are satisfied that the￿ are sufficient systems in place to mibgale exposure lo major risks. Cash flow risk The Charity hold8 SU￿lUS funds in interesl-bearing bank accounts Hadley Wood Assoclatlon (Charity number. 10797441 Trustees. Report Icontinued) Cwedit risk The Charity's principal financial awts are bank balancès and cash, trade and olher receivables, and investments. The Charity's credit risk is primarity attrbbutable to its membeFS' subscription dues. athertiseTS. events sponsors and the viabilty of user group licensees. The amounts presented in Ihe balance sheet are net of allowance5 for doubtful receivables. allowance for impairment is made %4knere Ihere is an identi)led loss event ¥thich, based on previous experience, is eviden￿ of a reduction the re(xtrverability of the cash-flows. The Charity has no ￿gnificant concentration of ¢redil iisk, with 8Kposure spread over the subscriber base, adve￿ser$ and the user group licensèes. LiquKlity risk In order to maintain liquidity to ensuTe that sufficient funds are available for ongowig operations and fijture developments, the Charity hold a sufficient mixtijre cash balance in instant access and call deposit accounts wth reputable UK ffinancial inslituknon5. Furlher details règarding liquidty risk can be found in the SL*ement of accounting policies in the financial slatemenL The annual reportwas apP￿ed by the trustees of the Charity on 26 June 2026 and signed on its behalf by.. Mr Robert Graham Wil Chaiiman and Ti Hadley Wood As$oclation statement ol Trustees, Responslbililles The INstees Ivtho are also Ihe directors of Hadey Wood Nssocialton for the pury)oses of company law) are responsible for preparing the trustees. Tepctrt and the fin8n¢ial statements in a¢cordance th the United Kingdom A¢¢ounting Standards (United Kingdom Generally A¢cepted Accounting Praclicel and 8pplicable law and regulatiDns. Company law requi￿$ the Iwstees to prepare ffinanual ststements for each financial year. Under mpany law the trustees must not appiove the financial statements unless they are satisfied that they give a true and tdir view of the stste of affairs ofthe tharitable comp8ny and of its incoming resources and application of resources, induding its income and expenditure, for Ihot period. In prepallng these financial statements. the trustees are required to.. . seled suitsble aecounting poliaes and apply Ihem conSisten￿y,. ' obserye the methods and prineiples in the Charities SORP., make judgements and estrmates that are reasonablè and prudent, • state whether applicable UK Accounting Standards have been followed. subject to any material departures di$dosed and explained in the ffinancial statèments,. and ' prepare Ihe financial statements on the ￿Ing concem basis unless it is inappropriate to presume that the charrtsble coryany will continue business. The trustees are re￿OnSIble for keeping adequate accounting records that are sufficient to show and explain the tharitable cornpany* transactions and di$clo$È with reasonable ac¢uracy at any time Ihe financial posfaon of the charitable company and enable them to ensure that the finan¢iaS statements comply wth the Companies Act 2006. They are also responsible for safeguarding the assets of Ihe charitable company and hen¢fr for taking reasonable steps tOT the prevenlion and deteGlon of fraud and olher irregularities. Approved by Ihe trustees ofthe Charity on 26 June 2026 and signed on Its behalfby.. Mr Robert Grah Chairma Truslee son Hadley Wood Association Independent Examinees report to the Truslees for the Year Ended 30 September 2025 I report to the Charity trustees on my ex•minatit)n of Ihe accounts of the Charity for the year ended 30 September 2025 are set out on pages 6 to 15. Respectlve VEsponsibilbtiès of tswsttts and examkn•r As the Charitys trustees of Hadey Wood ￿S￿latIOn land also its threctOF5 forthe purposes of company law) you are responsible for the preparation of Ihe accounts In accordance the requirements ofthe Companies Act 20061'the 2006 ACVI. Having satisfied myself that the accounts of Hadley Wood Assodatlon are not required to be audited under Part 16 of the 2006 Act and are eligible for indepèndÈnt Èxamin8tion, I report in respect of my examination of your Charity's accounts as caffied out under section 145 of the Chartlies Act 2011 {'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under secb'on 145{5>lbl of Ihe 2011 A¢t. Independgnt examinerf5 Statement I have completed my examination. l Confirm that no matters have come to my attention in conneclion wlth the exanwnation gving mè cause to believe.. accounting records were not kept in respect of Hadley Wood Assoc4ation as rewired by section 386 of Ihe 2006 Act or 2. the accounts do not accord with those record5,' or 3. Ihe accounts do not comply wilh Ihe accr)unting rewirèments of sec11c￿ 396 of the 2006 Act other than any requirement that the accounts gSve a and fair wevl vthich is not a matteT considered as part of an independent examination-, 01 4. the accounts have not been prepared in accordance ￿ryth Ihe methods and principles oflhe Statement of Rè¢ommendÈd Praetice for accounting and reporling by tharibes lapplicable to charites preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Repubh'c of Ireland (FRS 102)]. I have no eoncems and have come across no other matters in connection with the examination to vthich attention should be thawn ￿ Ihis report in older to enable 4 proper understanding of the accounts to be reathed. Sanjiv Sheth, BFP FCA CharteTed Accountant Binsam Accountancy Services 6S Fi12john Avenue 8amet Hertfordshire EN52HN 26 June 2026 Hadlèy Wood Assoclatlon Slatement of Financial Activities for the Yèar Ended 30 Sèptèmber 2025 Ilncludlng Income and Expendlture Account and Statemem of Total Recognised Gains and Losses) Totsl 2025 Totsl 2024 funds funds Incom• and Endowments trom: Donations and gift5 Charitable acts'vities Investment incom 70 100.250 70 100,250 3.131 160.356 534 Totsl incomè 100,984 100.984 164,021 Expend6ture on: Charitsble activities Govèrnance 110.772 1,568 47.274 71 158,046 1,640 138.282 22,995 Totsl exPw￿ll￿Io 112,340 159686 161,276 Funds trnn$fer¥Èd Net nvJvgmgnt in lund5 111,3561 {47,345) {58,7021 2.744 Raconciliatbon of lund5 Total lunds brought forward Release of restricted funds 87,600 59.160 146.760 144.016 Total funds Carri￿ fonvard 76,244 11.815 88,OS8 146.760 All of the Charity's advitses derive from c¢Jntinuing operalions during the above fyvo periods. The funds breakdown for th• Year Ended 30 September 2025 is Shov￿ in note 12. The notes on pages 9 to 14 form an integral part of these finanaal statements Hadley Wood Assoclatlon (Registratlon number. 03904084) Balance Sheet as at 30 September 2025 Unrestricted D•$ignated funds funds Total 2025 Tolal 2024 Fixed Assets Tan9ble assets 43,968 43,%8 45.704 Current Assets stocks Debtors Cash at bank and in hand 569 20,735 33,695 547 38,304 87,120 1,149 10.666 21,883 44,361 10 54,998 11,815 66.813 125,971 CrÈditors Am¢)unts falting due ￿rythin onÈ year {22,722) <22,722) {24,914) Nel as$et 32,276 11,815 44,091 101,057 Total assèt ￿sS curr•nt - liabil*ies 76,244 11,815 88,058 146,760 Net Asset 76244 11.815 88,058 146,760 Funds Unrestricted funds Designated funds Restricted fvnds 76,244 11,815 86,788 59,972 13 Total fund5 12 88.058 146,760 The notes on page5 9 to 14 fofm an intègral part ofthese finan￿01 ststements Hadley Wood Assoclatlon {Registration number: 03904084) Balance Sheèt as at 31J Seplernber 20251contlnuadl For the fjnancial year en(*ng 30 September 2025 the Charty was enlilled to exemption from audlt under section 477 of the Companiès Act 2006 relating to STTiall ￿￿panieS. Directors, responsibilibes.. The members have not required Ihe Charity lo obtan an audit of its accounts for the year in question in aC￿[danCe ￿ seclion 476: and The directors ackno1￿edge their respon￿bilitieS for complwn9 Wtth the requirements of the Act with rÈspeet to accounting records and the preparation of accounts. These a¢ctsunts have been prepared in accordance Ihe provisions appll¢able to companies subject to the tsmall companies re￿rne. The finandal slatements on pages 6 to 15 were approved by the trustees, and aulhorised for issue on 26 June 2026 and signed rm Iheir behalf by: obert GrahaDkWlson Chaiim rustee Hadley Wood Associatlon Notes lo the Flnancial Statements for the year ehded 30 September 2025 1. Charity $tstus Th• Charty is limited by guaranlee, incorporated in En￿and, and consequenlly does not hove share capitdl. Each of the trus￿5 is liable to contrbute an amount not exeeeding £1 towards the assets ofthe Charity in thè event of liquidation. The address of its regstered office Trs.. HWA Centre 1-7 CrÈs¢Ènt East Barnel Hertfordshire EN4 OEL These ffinancial statements wèrè athhorvsed fcf issue by Ihe tnjslees on 26 June 2026. 2. Accounting poli¢ies Summary of signiknnt accounting policies and key ac¢ounting ostimates The principal aceounting policies applied in the preporation of these ffinancial statements are set out below. These policies have been Consisten￿Y applied to all the years presented. unless otheTh4ise stated. Statemènt of compliance The financial statements have been prèpared in accordance Accounting and Repo￿ng by Charitie$= Statement of Recommended Practy¢e applicable to ¢h8rities preparing their a¢￿U￿ts in ac¢ordance wth the Financial Rèporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effeclive 1 January 2015)- (Charities SORP {FRS 102)), the Financial Reporting Standard applicable in the UK and RepublÉc of Ireland {FRS 102). They also ￿mplY the Companies Act 20(6 and Charilies Act 2011. Basis of prnparation Hadley Wood Associalion meets the deffinition of a public benefft enlity under FRS 102. Assets and liabilities arè initially reCo￿lEed at historical Cost or transaction value unle8$ otheFwise stated in Ihe relevant accounting poliw notes. ¢30ing ¢oncem The Charity has Teported a defiut for Ihe year of about£59.000 bul this is largely attributsble to Green Beli expendibjre £47.000. The adjusted HWA position is a defficit of about £11,000. Unrestricted cash reseNes have reduced to £33.000 (from £39,000 last year). However Ihe Trustees consider that. as there are reserves brou￿t fOr￿ard and as adthtional fvnds can be raksed from members and activities. there are no material uncertainties about Ihe Charitys abilty to continue as a going concern nor any significant areas of uncertainty Ihat affedlhe carrying value of assets held by Ihe ch￿lty. Exemplion from pveparing a cash flow statenwnt The Charity opted to earfy adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash llow statement in Ihese financial statements. Raising funds These ale costs incurred in attracting voluntsry income. the management of investments and those in¢urred in trading arAivities Ihat raise funds. Hadléy Wood Associatlon Notes to the Flnanclal Statements for tho year ended 30 September 2025 Income and Èndowments AJI income És recognised once the Char￿¥ has entilement to the income. it is wobable that the income V￿11 ba received and Ihe amount of Ihe income receivable Can be mea5UTed reliably- Donalions and legaciès Donalions are recognised ￿en Ihè Charity h8$ been nollfted in vKithng of both the amount and setuement date. In the event that a donalion is subjetx to condilions that require a level of performance by Ihe Charity before the Charity is entilled to the fijnds. 1he income 1$ deferred and not recognised until eitheT those condtlions are fi￿ly mel, orlhe fulfilment of 1hose condibons 1$ wholly within the control of the Charlty and it is probable that Ihese conditions bMII be fulfilled In the reportwig period. Expenditur• All expenditure 1$ recognised once there is a leoal or construclive obligats'on lo that expendI￿re, it is probable setllement is req¥Jired and the amount Can be measured reliably. I costs ale allocatsd to the applicable expenditure heathng that agurÈgate sinu1ar costs to that category. Where costs Gannot be threclly attributed to particular headings they have been allocated on a basis consistent wilh the use of iesources. vAth ￿ntral staff costs allocated on the basi5 of time spent, and depreciation charges allocated (In the pcrtion of the asseys use. Other support costs are allocated based on the spread ofstsff wdts. Charitable actlvltles Charbtable expenditure comprtsès those costs ￿n￿Thed by the Chority In the delivw￿ of its aclivities and services for its beneficiaries. It indudes both costs that can be allocatsd diredy to such adivities and Ihose Lxxts of an indirect nthre necessary to support thern. Support costs Support costs include centra5 fiJncti¢)n$ and have been allocated to activty cost categories on a basis Consistent vAth the use of resouTces, for example, allocaling propety costs by floor area$. or per capita, staff costs by the time spent and other costs by their usage. Goveman¢¢ costs These include the costs attributable to the Charitys compliance wlth ￿nstitutiOnal and stabjtory requirements. including independent examination. strategic management and trustees, Meetin￿ and reimbursed expenses. Tangib￿ r￿ed asset$ Individual fixed assets costing £l.000 or more are initially recorded at cost, less any subsequent accumulated depreciatiM and subsequent accumulaled impairment losses. Taxation The Charity is consldered to pass the tests set out in Paragraph 1 Sthedule 6 of Ihe Finance Act 2010 and therefore it rneets the definilion of a charitable company for UK corporation tax PUtPOses. Accordingly, the Charity is potentJ"8lly exempt from tsxation in respect of income or pital gains receive¢J wrthin categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Seclion 256 of the Taxation of Chargeable Gains Act 1992. to the extent that suth income or gains are applied exdusively to tharitable purposÈ$. 10 Hadley Wood Assoclation Notes to Ihe Flnan¢lal Statements for the year ended 30 September 2025 Deprnciation and amortisation Depreciation is provided on tangible fixed assets 80 as to write off the cost or valualion, I any estimated residual value. overtheir expectsd usefvl economic life as follows: Asset class Deprn¢iation mÈtht)d and rate Short leasehold er unexpired lease term Plant & machinery Over four years Fix￿re$, ffttings & equipment Cfver four years stock Stock is valuèd atthe lower of cost and estimated selling prbce less costs to complete and sell. after due Tegard for obsolete and slow moving stocks. Cost is determined using the first-in, ffirst-out (FIFO). Trade debtors and receivables These are amounts due from user gfOUPS, Gift-Aid and customers purchasing advertising space in the HWA newsletters in the ordinary course of Charity's business. Trade debtOTS and receivable are recognised at the transaction PFice. These are subsequenly revi￿ed penodically for bad debt. Non-collectable or doubtful debts are impaired atthe rale at %thich it is likety to bècome bad debt. Trade Creditors and payables Trade ￿edItorS are obligations lo pay for goods or services that have been acwired in the ordinary course of Charitys business from suppliers. Accounts payable are dassified as current liabiliknes if Ihe Charity does not have an unconditional right, at the end tsf thÈ rèporting pèriod. to defer seillemènt ofthe creditor lor at LeaSt￿￿Ve months after the reporlrng date. If there is an unconthbonal right to defer settlement for at least tsvelve monlh$ after the repNting date, they are presented 88 non-current liabilities. Cash and cash equivalents Cash and cash equivalents comprtse cash at bank, on hand and ¢all deposits. Fund $tructure Unreslricted income fijnds are general thjnds that are available for use at the ttustee&' ths¢xetion in frjrlherance of the objeclives of the Charity. Dèsignated fiJnd8 are those unrestricted fund5 whith have been sel aside by trustses for an essential spend or campaign purpose. These funds are then'rin*fenced' and no lon9er form part of unrèstrictèd gèneral ftinds. The Chattty operates (lesignaled funds: 1) Neighbourhood Planning Forum frrf the improvement and protection of the locd environment. 2) The Save the Hadley Wood Green Belt Campaign I￿reen Belt Fundl established in thè ￿ar ended 30 September 2021 to stop development in Ihe ￿een belt aTea Surrounding Hadley Wood. All fvnds donated to Ihis campaign are held in a separate bank account labelled 'HWA Green Beif. Ai eXPend￿re from this account is approved by Trustees under guidan¢è by the Planning Subcommittee. The income and expendilure from this fund is included under DEsgnoted Finds in the SOFA and a fvll income and expendibjre account for this Fund is included in Note 13 on page 15. There is a provision funds to be Teleased and available lo HWA in stated cirujmstances. 11 Hadléy Wood Assoclatlon Noles to thè Financial Stalemerts for thè year endèd 30 September 2025 Incom& from charitabla aclivittes 2025 2024 Membership sJJbs¢rlptions New￿etter a