2025-09-30-accounts

Company Number 45H532 (England and Wales) Charity number 1095308 (England and Wales) IJ'A transforms lives every day Veterans Ald Annual Report and Financial Statements For the year ended 30 September 2025

VETERANS AID ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 CONTENTS Page Legal and administrative information Chairman's report on activity Chief executive's report Report of the trustees 6-25 Independent auditor's report 26-29 Staternent of financlal activities 30 Balance sheet 31 statement of cash flows 32 Notes to the accounts 33-49

VETERANS AID LEGAL AND ADMINISTRATIVE INFORMATION Patron The Dowager Viscountess Rothermere Honorary Life President Brigadier J F Rlckett CBE FinstD Honorary Vlce President Fleld Marshal the Lord Walker of Aldringham GCB CMG CBE DL The Trustees who served during the financial year and to the date that the Report of the Trustees was signed were as follows: Trustees A G Wallis MBE OL DL (Chairman) Dr P Dyer BA (Hons) MA Duniv (Kent) FBIPP FIOD ACII (Deputy Chairman, Chairman of the Business Strategy Committee) (retired on 2nd December 2025) Major Rupert A D Gibb (appointed 1st December 2025) Major David Kennard (Honorary Treasurer) (appointed 28th April 2026) Colonel Christopher MacKenzie-Beevor CBE LVO G J Holbourn FCA FCCA DChA (Member of the Business Strategy Committee) Wing Commander Alex C South MA (appointed 1st December 2025) Management Wing Commander Prof Hugh MilroyOBE BTh MA PhD DCL (h.c.), Hon Prof of Social Work UEA, Prof (Social Work) Flinders University, Chief ExecLrtive, (Member of the Business Strategy Committee) Natalia Michaelides BA Msc CG (Affiliated) (Chief Operating Officer) Richard Greenhough Bcom ACMA (Head of Financial Services) Pat O'connor MBE (New Belvedere House Manager) John Boyle Dip SW (Head of Frontline Operations) Dorothy Jones Dip Eng Law (Open) MCIM MCIOF (Head of Fundraising) Advisors Lt Col lan Palmer, Professor of Military Psychiatry (Honorary Psychiatric Advisor) Amanda Lennon, Solicitor (England & Wales) FCIPD LLB (Hons) (Principal HR Advisor) Legal Advisers Merall Beedle Limited Vicarage House 58-60 Kensington Church Street London W8 4DB Auditors Saffery LLP 71 Queen Virtoria Street London EC4V 4BE Page I

VETERANS AID LEGAL AND ADMINISTRATIVE INFORMATION Investment Managers S & T Asset Management LLP & Stockbrokers 42-45 Market Street, stockport, Cheshire SK6 7AA Bankers HSBC Bank 60 Queen Victoria Street London EC4N 4TR Lloyds TSB l Butler Pla London SWIH OPR Clydesdale Bank PLC (trading as Virgin Money) 35 Regent street London SWIY 4ND Reglstered Office 27 Victoria Square London SWIW ORB Company No 04544532 Charlty No 1095308 Constitution Veterans Ald Is a registered charity and a company limited by guarantee, registered in England. It Is governed by its Memorandum and Articles of Association which were revised and adopted by Special Resolution on 14th May 2025. Subsldlarles Veterans Aid (Servlces) Ltd, company registration number 06096959, is a wholly-owned subsidiary, currently dormant. It has not traded during the year. Hollenden House, charity number 1095308-1, and New Belvedere House, charity number 1095308-2, are wholly owned Subsidiary charities, currently dormant. Neither has traded during the year nor holds any assets at the year-end. Under a uniting direction issued by the Charity Commission dated 3rd June 2003, these subsidiary charities are not required to prepare a separate Annual Report and Financial Statements. Registered Soclal Landlord Veterans Aid is registered as a Social Landlord under the reference LH0674 Page 2

VEfERANS AID CHAIRMAN'S REPORT ON ACTIVITY FOR THE YEAR ENDED 30 SEPTEMBER 2025 As Chair of the Board of Trustees, l am both pleased and proud to report that the Charity is in good shape and exactly where we want it to be. We continue to draw strength from the model we adopted some years ago focuslng on evidence-based outcomes rather than peddling sad stories and misinformation about the scale of veterans in crisis. When we are ble55ed with a donatlon from a supporter, we form a lasting relatlonship and are able to explain EXACTLY how their donation was used to support those in our care. We are finding this transparency is generatlng trust and commitment from our donor base which in turn is allowing us to Increase our capabilities and extend our'reach, in providing care. That authenticity is having a profound effett on individuals and Instltutions who are tired of dealing with charities who promote inaccurate data to garner donations that disappear into a pot with no measurable outcome. We are now forging links with those people who place tangible impact above theatrics and who are keen to know they are making a real difference through their giving. When talking about the Charity l used to start conversations with 'We are Veterans Aid, you won't have heard of us, but Thls Is no longer the case. l am now struck by how many people in the City of London have heard of us and how impressed they are with what they have been told. Again, it's all about authenticity and results. Reputations are hard-won and easily lost. Years of hard work have given VA its reputation as a charity that solves problems quickly, Intelligently, and with dignity. We face the future with confidence knowing we have a model defined by need, honed by experience and delivered by the best team in the Sector. Andr Chai Wallis MBE OL DL an 30th April 2026 Page 3

VETERANS AID CHIEF EXECUTIVE'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 Veterans Aid occupies a unique place in the UK'S support landscape: we prevent veteran homelessness by intervening early, acting qulckly and removing the barriers that allow crises to escalate. Our founding principle remalns unchanged namely, that no veteran should ever face homelessness or the chain of hardshlp that so often precedes. But the environment in which we operate has shifted dramatically. The pressures driving veterans into difficulty have become more complex, more immediate and MO￿ closely tied to poverty than ever before. Poverty is the dominant factor In almost every case we see. It destabilises housing, employment, mental health and famlly life, and it does so rapidly. Yet it remains largely unaddressed by the systems deslgned to protect those who have served. Too often, support is triggered only after a veteran has already reached crlsls polnt. Veterans Aid has demonstrated that a different operational model delivers better outcomes. Our approach is built on aglllty, intelligent use of technology and a comrnitment to act at the moment help Is needed rather than weeks or months later. We prioritise people over process, and we remove the friction that prevents veterans from accessing timely support. Increasingly, sign-posting agencies and tradltlonal referral pathways slow this work down rather than strengthen it. Across the wider sector, resources exist but they are frequently locked behind restrittive criteria, lengthy reporting requirements and funding structures that prioritise compliance over impact. This results in a system that measures activity rather than change. For frontline organisations, the administrative burden diverts capacity away from the very people the sector exists to serve. For example, we have just been asked to pay for a medical intervention by a Regimental Association that has £8m in reserves because it's not something they dol To maintain and scale effettive prevention, unrestrirted, flexible and reality-based funding is essential. It allows us to intervene early, decisively and in ways that reflect the actual circumstances of veterans. lives. Restrictive funding, however well-intentioned, reinforces a model that is no longer fit for purpose in a landscape where crises develop quickly and unpredictably. The challenges facing veterans will not be solved by maintaining the status quo. Poverty Is not receding, and the pressures that flow from it are intensifying. If the UK is serious about safeguarding those who have served, prevention must become the organising principle of veteran support. That requires honest assessment of what is not working, willingness to rethink entrenched systems and investment in approaches that deliver measurable, lasting outcomes. Veterans Aid will continue to lead wlth clarityi urgency and innovation. Our operational model works, and the need for it has never been greater. Page 4

VETERANS AID The veterans of this country deserve a system that prevents crisis rather than one that reacts to it Wing Commander Dr Hugh MilroyOBE BTh MA PhD DCL (h.c.), Hon Prof of Social Work UEA, Professor of Social Work (Flinders University), Chief Executlve 30th April 2026 Page 5

VEfERANS AID TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 The Trustees present thelr Annual Report on the affairs of Veterans Aid, together with the Financial Statements and Auditor's Report for the year ended 30 September 2025. The flnancial statements comply with the Charities Act 2011, the Companies Att 2006, the Memorandum and Articles of Assoclatlon, and Accounting and Reporting by Charities: statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Ireland (FRS 102). This report has been prepared taking advantage of the exemptions available to small companies under the Companies Act 2006. Principal objects and actlvltles The objetts of Veterans Aid, as stated in its Memorandum of Association, continue to be to offer support to vulnerable Veterans {ex-British Armed Forces or Merchant Service) who, through homelessness or other adverse circumstances, are in need and who require supported accommodation and skilled help in order to be able to achieve a settled way of life and their future well-being In society. Aim of Veterans Aid To help its clients achieve their own maximum potential to live and develop in the community by swift intervention and addressing their needs holistically. Mission of Veterans Aid The Charity's mission is to: respond effectively to vulnerable Veterans by using best practice and providlng quallty care; make innovative approaches to the problem of homelessness among Veterans. recognise the dlgnity of each person whom we seek to help; and develop our staff team to their utmost potential. Overall statement of public benefit In setting the objects and activities of the charity, the Trustees have glven careful consideration to the Charity Commission's general guidelines concerning public benefit. In particular the Charity has focused on ensuring that levels of recidivism among those who graduate from its facilities are minimised and that, through a policy of swift intervention, the numbers who requlre longer-term assistance are reduced before they become hardened street-dwellers. The Charity continues to place great emphasis on preventative work. The public benefits of VA'S work are multiple and demonstrable. They can be classed as dirert (i.e. where the charity prevents or addresses homelessness, social Isolation and its consequences for clients) and indirect (i.e. where interventions to restore an individual to health and independence result in a family being reunited and domestic support networks being restored). Below the line metrics such as 'Savings to society, can be calculated through referencing the lifetime dlstrlbution of care and support costs - to the NHS, the Criminal Justice System, and the Department for Work and Pensions, as well as other charities and social enterprises associated wlth social isolation. Page 6

VETERANS AID TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Overall statement of public benefrt (continued) In 2025, Veterans Aid completed a rigorous economic impact evaluation in collaboration wlth Cambridge Econometrics, an award-winning economic research consultancyi building on the methodology established through the original Pro Bono Economics Report. Across a sample of 246 veterans and 356 interventions, 88.80/0 of outcomes were recorded as successful with crisis accommodation, the Charity's most critical intervention, achieving a remarkable 960h success rate. These are not abstrart statistics; they represent veterans who have moved from homelessness to stable accommodation, from addiction to sustained recovery and from unemployment to meaningful work. The analysis estimated a net benefit of up to £2.6 million against an intervention cost of £484k, a powerful demonstration that investing in the most vulnerable pays dividends for individuals, families and society a5 a whole. Remarkably, the average persistence rate of eighteen (18) months confirms that thls change endures. Veterans Aid does not simply manage crisis it resolves It. This report, facilitated through PBE'S corporate partner matchlng scheme, reaffirms the Welfare to Wellbeingo model as an exemplar of transformative social care, and positions Veterans Aid as a leader in evidence-based, human-centred practice within the settor. Substance mlsuse During the reporting year 76 clients were placed in substance misuse programmes across the country, compared to 82 the previous year. This was frequently done at short notice in marked contrast to the norm within the current care System. The policy of swift intervention recognises that with substance misuse, there is often a window of opportunity for those with addictions and that failure to seize this opportunity and robustly address the addictions will ultlmately lead to failure and further financial burdens society-wide. Holistic approach Most clients who approach the Charity have dual or trlple-diagnosis problems that overlap and add complexity to the interventlon strategles. Few charities or Government agencies are structured to deal with such problems in a holistic manner. The Charity, by contrast, offers a powerhouse of diverse In-house expertlse (social workers, substance misuse counsellor, military psychlatrist) that Is augmented by access to an even wlder network of external specialists (barristers, solicitors, academics etc.) who can be called upon to work in concert and minimise the prospett of VA "graduates" failing. This external network operates on a national basis and embraces all manner of agencies and support services. In 2025 the Charity placed 90 clients into some form of sustainable accommodatlon (2024: 75), very few of whom returned to their previous existence. Raising awareness and appreciation of the Charity'5 capability Transformative and life-saving services were delivered without interruption during the past year, allowing the Charity to effettlvely tackle clients, multiple problems, some of which had been exacerbated by the rising cost of living in the UK. Page 7

VETERANS AID TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Raising awareness and appreclatlon of the Charity's capability (continued) Media and PR artivities remained focused on championing the Charity's leading role in keeping ex-servlce personnel and their families off the streets, safeguarding the wellbeing of those already in our care, and placing ever-greater emphasis on prevention. The Charity's regular editorials In Politlcs Home continue to attract the attention of key opinion formersi Positioning it both as a critical thinker and a forward looking organisation. These articles, and occasional news releases, generate strong engagement and are invaluable assets in supporting both our fundraising and wider media strategy. They are regular top performer5 and VA'S January op ed recorded just under sk page views, far exceeding the platform benchmark of 700-1,000 views, alongside over 4k soclal medla impressions. Complementlng these digital efforts, VA established a partnership with the Worshipful Company of Marketors, who are working alongside the VA team to review the Charity's current marketlng strategy and identify opportunities to further strengthen and expand its reach. This collaboration will provide VA with access to professional marketing expertise, supporting the organisation in developin9 a far-reachlng marketing presence that reflects the ambition and mission of the Charity. Our database - and what it reveals is a key element of our awareness-raising efforts, providlng a credible and data-driven foundation for everything we communicate publicly. For instance, in the reporting period, analysis of our client data revealed that three issues poverty, relationship breakdown, and mental health accounted for over 80 % of all recorded reasons for contart. This is a striking concentration that speaks directly to the interconnected nature of veteran hardship,. these are not Isolated problems but conditions that frequently compound one another, each capable of triggering or deepening the others. It is precisely this kind of evidence that allows us to move beyond anecdote and speak with confidence about the true scale and nature of veteran need. VA undertook a series of targeted engagements and presentations designed to raise its profile and strengthen Its relatlonships with key stakeholders across the public, private, and charitable settors. These included several exchanges between our CEO and Alexander Hoare, a prominent figure withln British banking* who sought a candid account of the realities of the servlce charfty settor. Of note, VA wa5 also featured in Hoare's Bank's newly released book, reflecting the organisation's standing and the regard in which its work is held. The Lord Mayor of Westminster, Councillor Paul Dimoldenberg, visited Veterans Aid's Victoria headquarters a meeting that carried particular significance. With the charity rooted in Westminster for over 90 years, many Lord Mayors have passed through these doors, each visit a reflertion of a shared and enduring commitment to ensuring no veteran is left behin(J. In addition. Charlty representatives attended a number of relevant events and forums, including the Belgravia Awards, and engaged with representatives from the Worshipful Company of Armourers and Braslers and the Worshipful Company of Cutlers. Page 8

VETERANS AID TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Raising awareness and appreciation of the Charity's capability (continued) Collectively, these artivities serve a purposeful role in advancing VA'S mission. By engaging with Individuals and institutions of influence across sertors, VA continues to raise awareness of the realities of veteran homelessness and poverty, and to champion the evidence-based pathways out of crisis that sit at the core of its model. Each relationship built, and each forum attended, is an opportunity to demonstrate that wlth the right intervention, at the right time, sustainable recovery is withln reach. Building on our growing international academic profile, the Chief Executive (CEO) regularly briets interested parties from around the globe; in particular he is building strong links with EUROMIL (European Qrganisation of Military Associations & Trade Unions). The engagement centred on the evidence-based foundations of the Welfare to Wellbeing@ methodology, drawing significant interest from academics working at the intersertion of veteran health and social policy. As ever, the charity remains committed to sharing the knowledge, practices and insights gained through its frontline work wlth homeless veterans, recognising that the lessons learned carry meaningful relevance for broader social care challenges beyond the veteran community. Strong foundations continue to underpin the Charity's relationshlp wlth the Greater London Authority (GLA), with another year of funding agreed. The CEO held an important briefing with the Regeneratlon and Armed Forces Champion, Councillor James Small-Edwards, reaffirming the shared commitment of both parties to supporting those who have served. Members of staff attended the Veterans Roundtable Meeting, hosted by the Armed Forces Champion for London and Chair of the London Assembly, the Lord Len Duvall OBE. Our presence at the forum reaffimis the Charity's position as a trusted and leading provider of early Intervention and prevention services for veterans in crisis. Facebook and Instagram continue to perform strongly as key awarene55-raising channels. Facebook content has generated 46,933 views. As In prevlous years, LinkedIn (an international online platform used for professional networking and workplace development) remains our largest and most engaged audience• growing to 3,660 followers and recording 33,985 impressions over the past year. Page 9

VETERANS AID TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 IMPACT 2024 TO 2025 CLIENT INTERAcfioNS WHO Ald 4.631 UETr INTERACTIONS 575 MILE FEN4AIE • 610 FACETOFACECiEEPITVSSITSTOOUR HQIOSSCENTRE 58 GENERATIONZ ACCOMMODATION NIGHTSOFCRISIS SW ACCOMMODAT PRQVIDED& PAIDFOR 18-78 HOYEL CLIENT AGE k4NC AVERAGEAGÉ42YEM5 17,184 NIGHTSPROVIDED ATN8 WELFARE TO WELLBEINGQ 626 CO￿EtUNG5ES$IoP4sFUNDEo QFOVRCLIENTSNEEDEDg) FORMOFHOUSING 76 VEfERINSSUPPORTEDTHROUCal DEfoyJcouNSELLING SERVICE ARMY 73% ROYALNAVV PAF TA MERCHANTNAVY 621 CUENTSANDTHEIRFAMILIEsHELPEDINT￿uKANDA8ROAO Page 10

VEfERANS AID TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Governance The Trustees are committed to Strong governance and the Importance of a robust regime is something that the Chairman regularly emphasises. The Charity is fortunate in that various of its Trustees are engaged on an almost daily basis with the Chief Executive (CEO), thus providing both oversight and expertise. The Trustees are able to offer a wealth of experience from the military, business and third sectors and collectively constitute a well-balanced board. Its focus is on doin rather than knowing as this is an action-orientated charity. The CEO is able to seek advice and decision-making contributions daily should it be required. The CEO benefited from a very strong working relationship with Deputy Chair, Dr Paul Dyer, who served as the lead for governance with outstanding dedication until his retirement on 2nd December 2025. Governance responsibilities have since been a55umed by the Chalrman, Andrew Wallis, ensuring continuity and strong leadership oversight. Oryanisational structure The Charity is exclusively UK-based. Its Head Office and Operations Centre is situated in Victoria, and its New Belvedere House residential facility is in Stepney, both in London. Although its geographical footprint is in the capital, the Charity supports UK Veterans in London and across the country, as well as providing advlce to those living abroad. Trustees determine the general policy of the Charity. The day-to-day management is delegated to the CEO, to whom report the Chief Operating Officer, Head of Financial Services, New Belvedere House Manager, Head of Frontline Operations and Head of Fundraising. Strategic plan The Board agreed that there will be no changes to the business strategic plan. Our tried and tested Welfare to Wellbeing@ {W2WBO) model demonstrates unparalleled versatility and effectiveness, as evidenced in the recent cost and benefit analysls. Our commitment lies in preserving the relevancy of our streamllned services, that are unlquely designed to address both tackle immediate crises and inspire prevention. There are no plans for expansion and the Charity remains focused on marshalling its resources to dellver tangible benefits for clients while further cultivating our successful W2WBO methodology. With its proven exportabillty and international recognition, we are dedicated to advancing our model as the gold standard In veteran care globally, empowering organisations worldwide to follow our evidence-ba5ed framework and transform lives through sustainable, impattful interventions. Recruitment. induction and training of trustees Veterans Aid seeks to have a Board of Trustees that reflerts the communlty It works in and whose members have the necessary skills and commitment to provide the good governance to achieve its objertlves. Trustees are provided with a handbook which outlines objectives, structure, responsibilities and governance, and which they are required to slgn as having understood. Trustees are circulated with, and abide byi articles on good governance and updates on attlvities as appropriate. Appropriate training is provided where necessary to ensure that trustees are suitably skilled to support the Charity's objectives. Equallyi Trustees are actively encouraged to engage with the CEO on a regular basis to provide support when necessary and to increase understanding of the Charity's daily business. Page 11

VETERANS AID TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Ins and Outs The Board welcomed three new Trustees: Rupert Gibb, a former officer of The Devon & Dorset Regiment wlth extensive post-service leadership experience, Alex South, a retired Wing Commander of the Royal Air Force with a distinguished record in HR and organisational management, and David Kennard, a former officer with the Irish Guards. Their appointments strengthen the Board's governance capacity and bring considerable operational and strategic expertise. The year also marked the retirement of Dr Paul Dyer in December 2025, following a period of exceptional and dedicated service to the Charity. Review of activities The scale and complexity of our life-saving interventions were captured clearfy in this year's data, with operational artivity remaining high at both HQ and NBH. Across all communication channels, our dedicated Ops Team responded to, and engaged in, 4,631 calls for help and support a notable increase from 3,908 the previous year. Seventy-five percent of our clients were homeless i.e. sofa surfing, in temporary housingi sleeping in a car, or In precarious conditions - a fact that underscores the critical Importance of our work for some of the most vulnerable people in our community. Building and sustaining meaningful relationshlps with the City of London instltutlons remains a central pillar of our reputational strategy. The Vintners, Company continued to show deep and committed interest in our work, and their ongoing involvement serves as a reminder of how such connections can open new and valuable avenues for fundraising and support. The Worshipful Company of Founders returned for another visit, continuing a welcomed tradition, now In Its third year, with successive Masters taking a keen and active interest in our work - a testament to Veterans Aid's ability to withstand the most rigorous due diligence. A landmark moment was our adoption, as its charitable partner, by the Honourable Artillery Company (HAC) for a three-year term. In announcing the partnership, the HAC recognised VA as an organisation that operates with quiet determination and to profound effect, noting a close alignment of values and a shared commitment to those who have served. Such endorsement from one of the City of London's most distinguished and well- connerted institutions is expected to yield considerable fundraising opportunities and open access to a broad and influential base of new supporters. New Belvedere House welcomed a team of professional chets from the Royal Logistic Corps, Royal Gurkha Rifles and Queen's Own Gurkha Logistlc Regiment of the British Army, who delivered a series of practical cooking sessions for our residents. The sesslons focused on the fundamentals of preparing nutritious meals using simple techniques, minimal equipment and modest budgets skills that are often overlooked yet prove essential in independent living. For many of our residents, the ability to cook affordable, nourishing meals Is a cornerstone of self-sufficiency and long-term wellbeing. This initiative refletts the very essence of the Welfare to Wellbeingo model, which places the holistic, everyday life needs of the individual at its heart. Page 12

VEfERANS AID TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Review of activitFes (contlnued) Throughout the year, the Charity continued to strengthen its position a5 a leading knowledge hub for veteran care. A total of 766 enqulrles were answered {2024:550), spanning partnership development, informatlon exchange, research, media collaboratlons, volunteering and fundraising, from organisations and individuals both within the UK and overseas. Notably, 830/0 of these approaches originated from social care, criminal justice, health or charitable organisations, reflecting the growlng recognition of our expertise and the breadth of our collaborative reach across the sector. The Charity's annual Carol Service, held at the historic church of St Botolph-without- Bishopsgate, provided a fitting and meaningful setting to welcome the festlve season. This year's event was by far the best attended, with guests and supporters gathering in warm and celebratory atmosphere. Beyond the occasion itself, the evening offered a chance for attendees to meet with our staff and listen to powerful testimonies of the Charity's life-saving work, bringing to life the profound impact of our services for those who support us. In line with a more than decade-long tradition, our CEO delivered two key lectures - at the King's College Institute of Psychiatry and the School of Social Work, Universlty of East Anglia, showcasing the strength, depth and universal application of the Welfare to Wellbeingo model in alleviating poverty and homelessness. Engagement with the academic world remalns of great importance to the Charity and the opportunity to present at two such well-regarded establishments is one we value greatly. These lectures serve as a powerful platform to promote our proven methodology as a transferable model for tackling social and economic disadvantage; one whose relevance and implications extend well beyond the veteran community, carrying significant meaning for the broader social care sector worldwide. The CEO has recently been appointed as the external member of the University of East Anglia School of Social Work Advisory Board. Performance The range of servlces provided by our substance misuse worker, military psychiatrist, social workers, outreach speclallsts and highly trained key-working staff, is enhanced by a mix of skilled volunteers and full-time professionals. New Belvedere House can accommodate up to 66 resldents, wlth rooms prepared for re- occupancy as soon as they become vacant. Accommodation provision is augmented by the temporary use of hotels, B&Bs, small lodging5 and, where appropriate, military clubs. Based on an average aggregate the Charity looks after 60-70 clients and thelr famllles each night. (NB - not all clients requlre accommodation). In total, 17,184 (2024: 16,688) nights of accommodation were provlded at New Belvedere House over the course of the year. A further 500 (2024: 468) nights of crisis accommodation were arranged and funded through HQ and the Ops Centre, ensuring that no client in urgent need was left without shelter, New Belvedere House, our flagship residential facility, operates outstandingly well, wlth the quality of care provided remaining consistently high. The emergency plans and procedures that were formed and aligned with the successful modernisation of the facilityi can be implemented rapidly and effectively. The experience of working with infectious diseases, and with the health and safety standards that the organisation is Page 13

VETERANS AID TRUSTEES. REPORT (contlnued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Performance (continued) committed to, allow us to action changing protection measures at speed and In accordance with Government and NHS advice. Specifically, our policies are underpinned and reviewed in line with the Infection Preventlon and Control (IPC) resource for Adult Social Care Settings in England. Rigorous hygiene standards, including deep cleaning and handwashingi are maintained as a matter of everyday health and safety practice across the facility. Should a resident test positive for COVID-19 or another infectious disease, self-isolation protocols are immediately activated. Prior to moving in, all new residents are required to complete a health questionnaire, ensuring any potential risks are identified and managed from the outset. Advice and support continue to be sought from NHS England and NHS Tower Hamlets Integrated Care Board. The HQ and Ops Centre have been operatlng as normal, within the parameters of the Charity's ongoing commitment to protecting the health and wellbeing of clients and staff agalnst Infertious diseases. Safety protocols are in place and are reviewed regularly and in keeplng with the latest guidance from the Government and NHS. Bullding on the internal Immunlsation programme launched in autumn 2024, staff and volunteers continue to be offered Immunisations and boosters as part of the organisation's ongoing commitment to workforce health and safety. This in-house initiative directly responds to the Green Book's updated classification, whlch Includes the homelessness workforce within the social care workers definitlon. Thls strategic approach reflects VA'S commitment to mitigatlng health risks while safeguarding the provision of our critical services. Income and investment The Board has considered its policy on income, investments, reserves and risk management. As in most organisations, with Veterans Aid's operations, these subjects are interdependent and are addressed as such within this report, which seeks to fulfil the requirements and deals with: analysis of the subjetts in question and formulatlon of related policy; management and control systems; and reviews. Analysis Income Veterans Aid realises its income frorn rents and housing benefits, grants. donations, events, legacies and investment Income. Sufficient income needs to be generated to cover the operating costs of the Charity which are: staff costs, property maintenance, utility charges, insurance, depreciation and other sundry costs. Page 14

VETERANS AID TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Income and investments (continued) Analysis (continued) Investments Veterans Aid investments stand at £1,206k (2024: £1,050k), with a further £28k (2024: £43k) in accrued income and uncommitted cash deposit5 held in the portfolio. With an agreed investment policy and a continual dialogue wlth the Honorary Treasurer and Chief Executive, the Charity portfolio is managed on a discretionary management basis by S&T Asset Management LLP. Llquid assets The liquid assets of Veterans Aid are divided into: Unrestricted Funds. The bulk of the charity's liquid assets are unrestricted, as detailed in note 14 to the Accounts. Restricted Funds. A proportion of the Charity's tangible fixed assets are apportioned to the restricted funds, as detailed in note 13 to the accounts. Permanent Endowment. The proceeds of the sale of the Hollenden House site in 2005 are held under permanent endowment and are represented by the value of the freehold land on which New Belvedere House stands, as detailed in note 12 to the accounts. Freehold Land & Buildings Veterans Ald owns the freehold of the New Belvedere House premises in East London, which are an integral part of the Charity's operations. The value of the land is treated as part of the Permanent Endowment, while the value of the buildings is treated as Restricted Funds and depreciated over fifty years; together they are identified on the Balance Sheet as Property Funds. Every five years a professional valuation of the site is undertaken and the values adjusted accordingly. The latest (2023) external valuation estimated the land value at £2,640,000 (an increase of £264,000) and the buildings at £6,160,000 (an increase of £616,000). The total capital value in these accounts after depreciation is £8,553,600 (2024: £8,676,800). Income and expenditure balance The annual income of the charity is £2,194k (2024: £2,236k), excluding unrealised gains/(losses) on investments and premises. The intent is that expenditure should match this figure, with an alm to break even in its annual operation. In the year to September 2025, the unrestritted funds showed a surplus of £134k (2024". surplus of £325k) and the restrirted funds showed a deficit of £139k (2024: deficit of £120k), which includes £123k depreclation charged on the buildings at New Belvedere House. The restricted revenue funds showed a deficit of £15k (2024: surplus of £3k). Income Policy General The overall pollcy regarding the income of the Charity is the generation through the income it obtains via rent and housing benefit paymentsi grants, donations and legacies Page 15

VEfERANS AID TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Income Policy (continued) it receives of enough revenue to enable it, in conjunction with its income from investments. to maintain its charitable work without interruption. Investment income The aim of the Investments of the Charity is to produce the income necessary to narrow any gap between annual income and expenditure that may arise. Investment Policy Discretlonary management - overall guidelines: S&T Asset Management LLP has been given discretionary powers of management, with the following overall guldellnes, over the portfolios of the Charity: 200/0 of the portfolio shall be invested in bank deposits, short-term money market instruments or investment grade fixed interest securities to enable the Trustees to have access to capital at short notice. 80 % of the fund shall be Invested in high quality international equities of the first rank to produce a growing income to protect the Trust against the long-term effects of inflation. The guideline Is to achieve a balanced retum to preserve and enhance the capital value whilst ensurlng a reasonable level of income, as amended by the Trustees from time to time. The equity content of the portfolio shall be in S & T's classification of medium to low risk. There shall be no investments in any company the aims of which are contrary to the objectives of the Charity and the Trustees shall notify the managers of any specific exclusions which they might wish to apply from time to time. S&T is required to submit an investment report for each meeting of the Board of Trustees, usually held in April and October of every year. Reports are made regularly to the Honorary Treasurer, who presents each ￿pOrt to the Board of Trustees, together with any recommendations for review that may be considered approprlate. Reserves Policy The Charity needs to have in reserve sufficient capital to guard against an unforeseen reduction in income, taking account of its need to meet the continuing costs of operating the Charity's main roles in providing accornmodation, rehabilitation and emergency care for homeless veterans. The historic consistency in both income streams and expenditure relating to that role, reflects the low risk which attaches to the Charity's income, much of It coming from rent and housing benefits and from its investments. The Trustees regularly review the Charity's reserves policy in relation to the current financial position and degree of risk. Page 16

VETERANS AID TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Reserves Policy (continued) Free reserves, as defined in the Charity SORP, exclude the value of permanent endowment, restricted funds and assets that are used in fulfilling the charity's purposes and therefore not available for spending. At 30 September 2025 the charity considers its free reserves to be as follows: 2025 2024 Total funds Less the value of property used for housing Less restricted funds not available for spending Less value of fixed a55ets used to carry out the charity's purpose Free reserves available for spending 10,219,359 (8,553,600) (1,123) 10,223,372 (8,676,800) (16,432) (203,807) (126,073) 1 460 829 1 404 067 The artual value of unrestricted reserves of the Charity at 30 September 2025 is £1,665k (2024: £1,530k) which represents an estimated nine months operating costs. For this purpose, operating costs represent expenditure on both unrestricted and restricted funds. Going Concern The Trustees have assessed whether the use of the golng concern assumption Is appropriate in p￿parIng these financial statements. The Trustees have made this assessment in respect of a period of one year from the date of approval of these financial statements. The Trustees have concluded that there are no material uncertalntles related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going con￿rn. Remuneration Policy The remuneration of key management personnel is reviewed by the Remuneration Cornmittee comprlslng the Honorary Treasurer and the Chairman. Their remuneration policy is set during the annual salary review for the whole team and it takes into account the following: Benchmarking with similar roles in the sector,. The Charity's financial position; Changes to cost of living and inflation; and Changes in roles and responsibilities. Page 17

VETERANS AID TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Fundraislng To help guarantee the availability of ongoing funds to solely pay for its work, Veterans Aid seeks to maintain broad and dlverse sources of funding. We aim to raise cash income, both restricted and general, source support-in-kind and build strong local, national and international partnerships. Our fundraislng practices follow strictly the provlslons of the Charities (Protection and Social Investment) Act 2016, other relevant legislation, and local government by-laws. Veterans Aid is a member of the Fundraising Regulator, whlch Is an independent self- regulatory organisation. As a member Veterans Aid Is committed to the highest standards in fundraising. We strittly adhere to the Fundraising Regulatorfs Code of Fundraising Practice. The Code Is underpinned by the fundralslng promise which stipulates that all fiJndraising must be legal, open, honest and respectful to the public. We use the Fundraising Regulator badge to publicly show that we are following these standards. We operate the Charity Commlssion's 'Know your Donor, prlnclple and make reasonable and appropriate attempts to identify any individual or organisation that gives us financial support, especially where significant sums are being donated or the circumstances of the donation give cause for concern. Veterans Aid will not accept anonymous corporate donations. However, we may accept anonymous individual or trust donations where there has been a rigorous third-party due diligence process, to confirm that Veterans Aid's reputation Is not potentially compromised. Should a supporter make themselves known to Veterans Aid, but wish to remain anonymous, we will honour these wishes, on the basis that the donation carrie5 no reputatlonal risk to the charity. Veterans Aid respects the prfvacy and contart preferences of all supporters and, in line with the GDPR regulations, responds promptly to complalnts or requests to cease Interattlon. There have been no complaints received during the financial year. If any individual or organisation asks to be excluded from fundraising approaches, this is recorded on the database and acted upon immediately so that they are excluded from all forms of solicitation, or those forms from which they have asked to be excluded. Our in-house fundraising team does not engage in cold-calling, wealth-screening or buyinglselling sensitive data. The Charity does not use other agencies in its fundraising activities. Veterans Aid believes and maintains the principles that, wherever possible: All gifts should be made without coerclon and as a result of an informed declsion. All gifts should be made with full transparency and agreement regarding the use of the gift. In cases where donations are made at a time when the donor was not able to make an informed decision, donations will be returned. Donors will be acknowledged and recognised according to their wlshes, as defined under the GDPR regulations. Page 18

VETERANS AID TRUSTEES. REPORT (contlnued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Fundraising (contSnued) All relevant donor data is stored securely on our centralised fundralslng database which is a web-integrated CRM (Customer Relationship Management) system. Use of this helps us to reduce duplication, mlnimise the risk of errors and provide an essential and accurate Information hub for analysis and reporting. We are committed to safe data handling practices and have robust securlty measures in place to protect this highly sensitive information, namely: The data is encrypted and stored on the VA Cloud Daily online and offline back-ups are arranged Access to the database is severely restricted (only rnembers of fundraising staff are granted admission and the system cannot be accessed remotely) VA'S network and Pcs have firewalls, anti-virus and anti-malware software Installed that monitor and immediately flag up potential and harmful activities 2417. Risk management Risk The diverse nature of our work naturally exposes us to many risks; some obvious and others less so. Our approach to risk over the last 10 years has been to go beyond a superficial reporting process and to concentrate on building strength and depth into our protective risk minimisation. In particular, the Board member for Governance is artlvely involved in this process. All standard workplace legislation is adhered to, but we are always seeking to go above and beyond statutory requirements. This year, the Charity transitioned to a different pay-as-you-go online platform, better allgned with our lean administration footprint and focused specifically on sector-relevant training, workshops and policies. This model reflects our commitment to intelligent and practical rlsk mitigation, ensuring that expert guidance remains accessible, flexible and proportionate to our needs. In addition, utilising AI tools, a range of Interartive compliance dashboards were designed in-house, affording the Administratlon team greater flexibility and real- time oversight of key rlsk and governance indicators. Underpinning all of this is a deliberate and sustained focus on Governance, ensuring the progressive identification and reduction of risk across the organisation. In essence, we have concentrated on 7 main areas: Damage to reputation A badly handled PR crisls Involving a charity can seriously tarnish its reputatlon. To mitigate this, we have developed a sophisticated and effective communlcations process that utilises the skills of a dedicated team that is supported by a professional and experienced Media and Communications Advi50r. We utilise social media judiciously to optimum effect and have excellent working relationships with key media outlets to get our message across. As a result, we are regarded as a transparent, credible and trustworthy organisation. Our reputation-enhancing efforts are allied with major and relevant working agencies, whose operations directly affect the lives of our clients, such Page 19

VEfERANS AID TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Damage to reputation (contlnued) as the Greater London Authority, Westminster Council and London Borough of Tower Hamlets. Of particular relevance, has been the exceptional and continued success of our work with Politics Home, which provides dlrect and timely access to senior policymakers and key governmental influencers. Last year marked another outstanding period of engagement, with our articles significantly surpassing platform benchmarks and reaching an audience well beyond expectations. These results reflect the Charity's ability to reach the right audience, in the right place, in a consistent and organic manner, cementing Veterans Aid's standing as a thought leader in the sector and ensuring our voice carries genuine weight. The Board's long-standing commitment to enhancing Veterans Aid's reputatlon as a strong delivery agency, forging partnerships with organisations distinrtively relevant to its future as opposed to courting popularity, continues underthe governance stewardship of the Chairman. Our growing profile in the City of London reflects thls broader strategy. one that prioritises valuable, long-term connectlons over short-term transactional relationships. It has directly given rise to the new partnership with the Honourable Artillery Company (HAC), who selected VA as their charitable partner for a three-year term. Where necessary, we continue to seek professional legal services to protect our name, clients and staff. Robust insurance cover Accidents can happen, and our charitable status is not enough to stop someone from making a claim against the charlty. An accldent involving a member of the publlc at a fundraising event, or an employee injuring themselves at the charity's premlses, could result in legal action being taken against the organisatlon. We have therefore ensured that our annual insurance review is thorough, far-reachlng, comprehenslve and reflective of all our activities. Our insurance extends beyond standard liability pmtection and includes policies addressing both traditional and emerging risks. The Charity has moved to a specialist provider that uniquely combines cyber insurance and active security in a single, integrated platform. This decision reflects a deliberate response to an increasingly complex and fast-changing cyber landscape, where traditional Insurance alone is no longer sufficient. Cyber security is an area that demands active and ongoing management; each year the Charity revlews the market to ensure it holds the most appropriate and effectlve produtt available. The platform's active protettion model provides ongoing threat monitoring, Al-powered security technology, dedicated incident response support and trusted partnerships to mitigate risk. The cover also includes comprehensive staff training delivered across different levels of the organisation. Health & Safety and HR & Employment Law A cost-effective and comprehensive training platfomi was Introduced this year, offering Invaluable cover across facilitie5 management, health and safety, fire safety and human resources. Page 20

VETERANS AID TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Health & Safety and HR & Employment Law (continued) Our Infectious disease control policies, risk assessments and work plans are being regularly monitored and supported by an independent health and safety professional. As far as New Belvedere House is concerned, robust PPM (planned preventative maintenance) plans are in place and reviewed on an annual basis, ensuring both safety of residents and staff and compliance with all relevant regulations. Our approach is pre-emptive, focusing on addressing potential issues before they arise In collaboration with other working agencies such as the London Borough of Tower Hamlets Public Health Team. As far as personnel matters are concerned, the charity is privileged to have received expert pro-bono support from a leading UK employment lawyer, who acts as our Principal HR Advisor. This relationship is of considerable value, providlng guidance through evolving employment legislation, ensuring that the Charity's prattice5 remain compliant, current and reflective of the highest professlonal standards. Cyber se¢urity & Data Protection Data security is now a significant risk for all organisations. We understand the importance of taking appropriate steps to safeguard information assets and are committed to protecting sensitive and personal information of all the data subjects. While we do not hold huge volumes of sensitive information, we have adopted sophistlcated and proactive controls. Human error can of course be a great danger in respect of data loss but very few members of staff use portable data and all are trained on proper data handling protocols. Additionally, our systems feature limited accessibility with strict user rights management, ensurlng sensltlve Information is only available to authorised personnel on a need-to-know basis. We have placed great emphasis on cyber security to mlnimlse our rlsks uslng external experts as required. Our approach to information security does not rely merely upon written policies. We maintain the confidentialityi integrity and availability of information through the protection of our technology resources and assets. Encryption, keeping back-ups and installing all the latest protective measures helps us manage these risks. Cyber security and data protection are closely monitored by an internal working groupi previously led by the Deputy Chair and now led by the Chairman followlng Dr Paul Dyer's retirement. The groupi which consists of the CEO and COO, reports to the Board in detail on the current POSltion and future plans. Our strategic move to appoint the Cyber Security and Data Protection Advisor remains essential in maintaining high digital performance, meeting regulatory requirements, and preserving general security of our online systems. This engagement has allowed us to be in control and on top of fast-moving digital changes as well as enhancing the onsite and remote users experience. Additionally, it elevates cybersecurlty from a technical Page 21

VEfERANS AID TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Cyber security & Data Protection(continued) function to a board-level priority where digital resilience is embedded in organisational culture. Our focus on training and education continues to be a priority, with key staff attending certified courses in Generative Artificial Intelligence, Ethics in AI, Data Analytlcs and Security. These programmes are designed to equip those in the most risk-exposed and responsible roles with the knowledge and skills required to navigate an increasingly complex digital environment. As reported above, the cyber insurance cover brings a web-based training programme, ensuring that staff development and digital protection are aligned and mutually reinforcing. A number of hardware and software components were either replaced or upgraded, ensuring the Charity operates with the m05t appropriate and current products available on the market. As ever, we believe in proactive measures that inspire tailored, relevant and cost-effective solutions that mlnlmise risks to our operations, clients and staff. In a world of competing demands, with the emphasis on costs and savings, Veterans Aid sees data protection and cyber security expendlture as essential. We will continue investing and reviewing our artivities to make sure we have adequate layers of protettlon and safeguarding procedures. This will always be an ongoing task. Funding and donations Charitable donations across the country are down by around IOO/o, whereas Veterans Aid has remained stable in this context. The sertor's abillty to raise funds through voluntary income contlnues to be hampered by the economic uncertainty and cost of living crlsis. Veterans Aid has always relied on diversified income streams; our viable business model is largely supported by the housing benefit system and topped-up by our sound reputation. As mentioned earlier in this report, our successfully methodology has been validated through diligent economic study conducted by Cambridge Econometrics. The report objectively quantifies the Impact and value of our work with veterans in crisis and reaffirms our global position as leaders in addressing both homelessness and poverty; a position which is directly related to the credibility of our fvndralsing. The retention and development of platinum-level relationships demands considerable and sustained effort, with each partnershlp carefully nurtured on an individual basis. The Michael Uren Foundation exemplifies this approach, and their increased givlng is a dirert reflection of the confidence that rigorousi personalised stewardship can bulld over time. Likewise, the Chlef Executive provides ad hoc brieflngs to Hoare & Co. as required, maintaining an open and informed dialogue with the Bank's principals. These relationships are not maintained by circumstance; they are the product of deliberate, consistent, and highly focused engagement - an Investment the Charity has made, and continues to make, as a matter of strategic priority. Our fundraising efforts continue to be centred around effectlveness, transparency and sustainability and we carefully choose partners who can support our independent work. Page 22

VEfERANS AID TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Fraud The Trustees and management are aware of the possibilities of fraud, both internally and externally. Strict controls are in place to ensure that no one individual is able to divert large sums via false invoicing or invoicing for works not undertaken, and there Is a separation of responsibllity between the incurring of expenditure and making payments. The Honorary Treasurer receives regular reports of all significant outgoings. Transparency is the key to our approach. Saffery LLP continue to be our auditors, a firm with a substantial reputatlon and knowledge of the charity sector, which enhances our credibility when prospettive funders carry out due diligence. The value-added aspert of this relationship is that we are allowed significant interattlon with our auditors throughout the year thereby minlmlslng risk. We have taken dellberately controlled approach as we understand the impact not only of financial loss but also possible damage to our reputatlon and a lack of public confidence if fraud were to take place. Governance Interaction between the Chief Executive and the board is dynamic, responsive, and constant. It has proved to be a highly effective working model referencing internal and external issues. The former includes HR, organisational structure, charity culture, management issues, overslght of assets and financial strength. The latter references economic conditions, market competition, legislative changes, mediart politics, reputation and demographics. The Deputy Chair was formally tasked with overseeing Governance. until his retirement in December 2025, Dr Paul Dyer ha(J 16 interactions with the CEO. Governance oversight has slnce been assumed by the Chairman, who has recorded 6 interactlons to date, ensuring continulty at Board level. Finance and accounting revlew The Charity has net assets of £10,219,359 (2024: £10,223,372), of which £8,757,407 (2024: £8,802,873) are tangible fixed assets. At the balance sheet date, the charlty had £167,050 (2024: £279,939) of cash balances available at one month's notice or less. The majority of the cash balances are held in deposit accounts. Funds As detailed in notes 12 to 13 of the financial statements, the charity has reserves classified as follows: Permanent endowment (note 12) This represents the endowment of the former Hollenden House property In East Sussex. Hollenden House itself was sold in 2005, and the remaining proportion of the freehold land, on which Whitworth House stood, was sold In September 2009. Page 23

VETERANS AID TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Funds (continued) Under the terms of the endowment, its primary purpose is for investment in real estate to be held and used by the Charity, and it is now represented by the freehold land at New Belvedere House. Restrlcted funds (note 13) Total restricted funds are £5,914,723 (2024: £6,053,232). Unrestricted Funds Unrestricted funds represent an estimated nine months operating costs of the Charity. The trustees are closely Involved and meet formally twice a year to review management accounts, fundralslng forecasts and cashflow analyses. The trustees believe that the charity is a going concern and for this reason, the going concern basis of the preparation of the financial statements is considered valid. Statement of Trustees. responsibilities The Trustees (who are also the D1￿ctOrS of Veterans Aid for the purposes of company law) are responsible for preparing the Annual Report and Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the Trustees to prepare financial ststements for each financial year that give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the company for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting pollcles and then apply them consistently; observe the methods and principles in the Charities SORP. make judgements and accounting estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the flnancial statements; prepare the financial statements on the going concern basis unless it is Inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time, the financlal position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detectlon of fraud and other irregularities. In so far as the Trustees are aware: there is no relevant audit information of whlch the charitable company's audltor Is unaware; and Page 24

VETERANS AID TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Statement of Trustees, responsibilities (continued) the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Thls report was prepared under the special provisions of Part 15 of the Companles Act 2006 relating to small companies Auditors A resolution proposlng the re-appointment of Saffery LLP will be put to the Annual General Meeting in April 2026. Approved by the Trustees on 30th April 2026 and slgned on their behalf by is MBE OL DL Chair Trustees 30th April 2026 G J Holbourn FCA FCCA DChA Trustee 30th April 2026 Page 25

VETERANS AID INDEPENDENT AUDITORS. REPORT TO THE MEMBERS Oplnlon We have audited the financial statements of Veterans Aid for the year ended 30 September 2025 whlch comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the notes to the financial statements, Including summary of significant accounting policies. The financSal reportlng framework that has been applied in their preparation Is applicable law and United Kingdom Accounting standards, including Financial Reporting Standard 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 charitable company's state of affairs as at 30 September 2025 and of its incomlng resources and application of resources, including Its Income and expenditure, for the year then ended; have been properly prepared in accordance with Unlted Klngdom Generally Accepted Accounting Practice; and have been prepared In accordance with the Companies Art 2006. Basis for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responslbilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 belleve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the golng concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, Indlvidually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a perlod 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 informatlon The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon, Our opinlon on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Page 26

VETERANS AID INDEPENDENT AUDITORS. REPORT TO THE MEMBERS (continued) Other informatlon (continued) Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we Identify such material inconsistencles or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material mis&tatement of this other information we are required to report that fatt. We have nothing to report in thi5 regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Trustees, Report which includes the Direttors, Report for the financial year for which the financial statements are prepared is conslstent with the financial statements; and the Trustees, Report which includes the Directors, Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees. Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accountlng records have not been kept, or returns adequate for our audlt have not been received from branches not visited by us; or the financlal statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneratlon specified by law are not made; or we have not received all the information and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies. regime and to take advantage of the small companies exemption from preparing a Strategic Report and in preparing the Trustees. Report. Responsibilities of trustees As explained more fully in the Trustees, Responsibilities Statement, the trustees (who are also dlrettors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satlsfied that they give a true and fair vlew, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material mlsstatement, whether due to fraud or error. Page 27

VETERANS AID INDEPENDENT AUDITORS. REPORT TO THE MEMBERS (continued) Responsibilities of trustees (continued) In preparing the financial statements, the trustees are responsible for assesslng the charitable company's ability to continue as a going concern, di5closingA as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to Ilquldate the charltable company or to cease operations, or have no realistic alternative to do so. Auditor's responsibilities for the audit of the financlal statements We have been appolnted as auditors under the Companies Act 2006 and report in accordance wlth regulations made under that Act. Our objectives are to obtain reasonable assurance about whether the financial statements a5 a whole are free from materlal mlsstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance Is a hlgh 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 if, individually or in the aggregate, they could reasonably be experted to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compllance wlth laws and regulatlons. 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 are detailed below. Identifying and assessing risks related to irregularities: We assessed the susceptibility of the charitable company's financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team plannlng meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated posslble incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charitable company by discussions wlth trustees and updating our understanding of the sector in which the charitable company operates. Laws and regulations of direct significance in the context of the charltable company include The Companies Act 2006, and guidance issued by the Charity Commission for England and Wales. Audit response to risks identified.. We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the charitable company's records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material rnlsstatements arising. We discussed the charitable company's policies and procedures for compliance with laws and regulations with members of management responsible for compliance. Page 28

VETERANS AID INDEPENDENT AUDITORS. REPORT TO THE MEMBERS (continued} Auditor's responslbilities for the audit of the financlal statements (continued) During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non- compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and Identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner's revlew included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud. There are inherent limitations in the audit procedures descrlbed above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less Ilkely we would become aware of it, Also, the rlsk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at: w udi rsr of our audltor's report. ibilities. This description forms part Use of our report This report is made solely to the charitable company's members, as a body, In accordance with Chapter 3 of Part 16 of the Companies Att 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Helen Wilkie (Senlor Statutory Auditor) For and on behalf of Saffery LLP 71 Queen Victoria Street London EC4V 4BE Statutory Auditors ..2026 Saffery LLP Is ellgible to act as an auditor in ternis of settion 1212 of the Companies Act 2006 Page 29

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VETERANS AID BALANCE SHEET AS AT 30 SEPTEMBER 2025 Not• 2025 2024 Flxed assets Tangible fixed assets Investments 8.757.407 1,233,484 8,802,873 1,093,027 9,990.891 9,895,900 Current assets Stock Debtors Cash at bank and in hand 10,169 163.269 167,051 5.413 162, 132 279,939 io 340.489 447,484 Current Ilabllltles Creditors: Amounts falling due in less than one year li (112,021) (120,0121 Net current assets 228,468 327,472 Net Jssets 10 219 359 10 223 372 Fund$ Property Funds.. Permanent Endowment Restrirted fvnd5 12 13 2,640,000 5.913.600 2,640,000 6,036,800 Revenue Funds.. Restricted fvnds General funds (includNng revaluation reserve of £263,734 (2024.. £295.403)) 13 1,123 16,432 1,664,636 1,530,140 Total funds 14 10 219 359 10 223 372 The notes on pages 33 to 49 form part of these financial statements. The financial statements were approved by the trustees on behalf by and slgned on thelr G J Holbourn Trustee Company Nurnber 45H532 Page 31

VETERANS AID STATEMENT OF CASH FLOWS FOR THe YEAR ENDED 30 SEPTEMBER 2025 Note Met cash provlded by/(used in) operatlng •ctlvities 22 105 296 Cash flows f m Investln artivltles Dlvldends and interest from Investments Purthase of property, plant and equipment PrO￿ed5 from sale of Investments Jrchase of investments 32,938 (136,1581 249,732 (380,272) 26,589 (47,768) 354,913 (358,010) Net cash (used in)/provided by Investing activities (233,760) (24,276) Net {deC￿aSe)/1ncrease In cash & cash equivalents 128 464 255 981 Cash and cash equivalents at the beglnnlng of the year Cash and eash equivalents at end of the year 322 355 193,891 23,24 322,355 The notes on pages 33 to 49 form part of these financial statements. Page 32

VETERANS AID NOTES TO THE FINANCIAL STATEMENTS AS AT 30 SEPTEMBER 2025 Accountlng polleles Accounting convention Veteran5 Aid is a registered charity in England and Wales {no. 10953081 and a company limited by guarantee registered In England and Wales (company number 4544532). Details of its registered office are provlded on page 2. These accounts have been prepared under the historical c05t convention. a5 modified by the inclusion of fixed asset investments at market value, w5th Item5 recognlsed at cost or transaction value unless other*4ise stated in the relevant notes to these accounts. The accounts have been p￿pared in accordance with the Companies Act 2006 and the 'Statement of Recommended Prartlce.. Accountlng and Reporting by Charities preparing their accounts In accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). and the Charities Act 2011. The accounts are prepared In stertlng, which Is the funttional cuffency of the Charity. Monetary amount5 In these flnanclal statements are rounded to the nea￿st £. The Charity con5tltutes a publlc benefit entity as defined by FRS 102. Golng concern At the time of approving the finanaal statements, the trustees have a reasonable expectstion that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concem basis of atcounting in preparing the financial statements. Income All income is accounted for as soon as the charity has entitlement to the income and there is the probability of receipt and the amount is quantbfiable. All incoming resources are recogni5ed on a receivable basis and Included In the flnanclal statements gross, i.e. before taking account of any associated expendlture. Allocatlon of Costs Premises ané assoclated costs relating to the runnlng of Head Office (whlch indudes the London Relief Centre} are allocated betv4een the various expenditure headings in the SOFA on the basis of the salaries of stsff at head office and the estimated time spent by each member of head office staff under each heading. Costs of ralslng funds Expenses are included as costs of raising funds if they can be directly related to a source of the charity's income or are for publicity intended to raise the profile of the charity. Charltable actlvltles The charity has identified two charitable activities through which it achieves its charitable objertive5- 1.6.1 Accommodation and support for Veterans crisls The charity runs New Belvedere House for homeless Veterans In the East End of London and provides funding to assist the residents in turning thelr Ilves around. 1.6.2 Detox rehabilitèts'on and emergency care for Veterans in crisis The charity'5 London Rellef Centre in Victoria, Central London. provides a drop-ln centre where Veterans In Crisis are given counselllng and provSded wlth short-term overnight accommodation whlle their needs are assessed. Governance costs Governance costs include all costs of maintaining the charity as a legal entlty Includlng audlt fees, costs of trustees. meetings, costs of complying with statutory requirements, and staff costs Incurred in connection with meeting these requirements. Page 33

VETERANS AID NOTES TO THE FINANCIAL sfATEMENTS (continued) AS AT 30 SEPTEMBER 2025 Accountino policies (continued) Tangible fixed assets and depreclatlon Tangible fixed assets, except freehold land, a￿ stated at C05t or valuation less accumulated depreciation. Deprecbatltsn is provided at rates calculated to write off the cost or valuation less estlmated residual value of each asset over Its expected useful life, as follows.. Freehold bulldlngs Fittings and Equipment over fifty years straight-line over three years straight-llne No depreciation Is charged on land. Items purchased are tapitalised where their cost is above £100 and they are expetted to have an ongoing use In the charity's operations. Purchases costing less than tttls are tharged to expenditure in the Statement of Financlal Attlvitles In the year of purchase. A professlonal valuatlon of the freehold land and buildings was undertaken at 30th September 2023 and the accounts reflect this figure (see Note 7). It Is intended that a valuation will take place every five years, the next valuatlon belng due Sn September 2028. The Charity reviews annually whether interim valuations should be Ltndertoken to ensure the value remains materially correct. Investments Fixed asset investments are valued at the current market value at the balance sheet date. Any Un￿alIsed gains or losses are creditedlcharged to the Statement of Flnanclal Artivitles. Realised gains or losses on disposal of investments are included in the Statement of Flnanclal Actbvities as they arise {see Note 8). 1.10 Stock Stock comprises gooijs for resale and Is valued at the lower of c05t or net realisable value (see Note 91. 1.11 Penslon costs The Charity contrSbutes to a defined contribution scheme. The pension costs chargeil In the SOFA are the costs relating to the defined contribution scheme and are charged to the SOFA when they are incurred. (see Note 26). 1.12 Perrnanent Endowment The Permanent Endowment relates to the East Sussex property glfted to the charity. Part of this property, Hollenden House, was sold In 2005 and the proceeds invested: the remainder of the property. Whltworth House, was sold in 2009 and the fund5 placed on deposit. Following a review of the temis of the endowment. the trustees have determined that its primary purpose was for investment in real estate to be held by the charity, antl that this is represented by the freehold land at New Belvedere House (see Note 12}- 1.13 Restricted funds Restricted funds are those received which are eamiarked for a specific Purpose by the donors. Expenditure which meets the criteria specified is allocated directly to the fund. {see Note 13) 1.14 Unrestrlcted funds Funds received or generated for the objects of the charity without a further specified purpose are treated as unrestricted funds. The balance in the General Fund at 30 September 2025 represents an estlmated nlne months operating costs (see Note 14). Page 34

VETERANS AID NOTES TO THE FINANCIAL sfATEMENTS (contlnued) AS AT 30 SEPTEMBER 2025 A¢countrng policies (continued) 1.15 RevaluatiOll5 Investments are revalued to market value as at 30 September 2025 and the gain or loss Is shown on the SOFA as a separate Stem not forming part of the incoming/{outgoing) resour￿5 as the trustees feel that including unreallsed gains or losses would not show a true and fair view of the charity's attlvlties during the year. 1.16 Flnancial instruments The charity has Tinaneièl assets and Ilabilities of a kind that qualify as baslc financial instruments. Basic financial instruments are recognised Initially in the accounts at transartion price, including any transaction costs. At the end of each accountlng period, basic financial instruments are ￿cOgnised at amortised cost. 1.17 Crftl￿l estlmate and Judgements and key sources of estlmation uncertainty In the application of the Charity's accounting pollcles, the trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and Ilabllities that are not readily apparent from other sources. The estimates and associated a55umptions are based on historical experien￿ and other fartors that are considered to be relevant. Attual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongolng basls. Revisions io ccounting estimates are recognised In the period in which the estimate is revised where the revi5i0n affects only that period, or in the perlod of the revision and future periods where the revision affetts both current and future period5. Carrying value of New Belvedere House The Trustees make judgement5 and estimates In applying the Charity's accounting policies that affect the carrylng value of land and buildings, In particular New Belvedere House. The property is carrie(i at valuation, based on the most recent external professional valuation undertaken in September 2023, with the land treated as permanent endowment and the buildings depreclated over their estimated useful economic life. In the period since the last valuation, the Trustees have considered whether any events or changes in circumstances indicate that the carrying value may be materially misstated. 8ased on thls review, the Trustees concluded that there were no indicators of material impairment or material change in value at the balance sheet date. Depreciation of the buildings is based on the Trustees, estimates of useful economic life and residual valLFe, currently assumed to be 50 years and nil respectively. These assumptions are revlewed annually. Changes to these estimates could result in a material adjustment to the depreciatlon charye and carrying value in future periods. 1.18 Comparative statements Under charity accounting requlrement5, comparatlve statements for the preceding year are requlred for a number of the notes to the accounts, specifically notes 2, 12, 13, 14 and 15, and these are shown below the informatlon for 2025 In each note. Page 35

VETERANS AID NOTES TO THE FINANCIAL sfATEMENTS (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Resourees expénded 2025 Dlrect Expenses Staff Other Support Costs Staff Total 2025 Other Ralslng Funds Fundraising costs Investment management cost5 Cost of goods sold 10,040 12,590 93,830 31,454 135,324 12,590 1,071 1,071 Charltable Artlvltles Accommodation and support for homeless veterans Rehabilitation and emergency care for homeless veterans 357,339 286,756 121,531 204,285 969,911 285,549 617,867 201,280 1,104,696 357.339 594,935 833,228 438,090 2,223,592 2024 Direct Expenses Staff Other Support Costg Staff Total 2024 Oth•r Ralslng Funds Fundraislng Costs Investment management costs Cost of goods sold 9,481 12,383 86,072 27,727 123,280 12,383 4,221 4,221 Charitable Actlvltles Accommodatlon and stjpport for homeless veterans Rehabilitation and emergency care for homeless veterans 340.228 244.217 113,293 201,578 899,316 290,092 561.934 187.784 1,039,810 Oth•r TPT (Pensions Trust) scheme wlthdrawal charge (see note 26) 33,378 33,378 340.228 556,173 761.299 454.688 2.112,388 Page 36

VFfERANS AID NOTES TO THE FINANCIAL sfATEMENTS {continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Resources expended (continued) 2025 2024 Total resources expended are stated after charging DeprecSation (see notes 1.8 and 7) Auditors remuneratio Amounts payable under operating leases 181,624 25,198 102 478 186,459 22,385 102 378 Governance (included in Support Costs above) Audlt fees Trustee expenses Staff Costs allocation Office Costs allocation Other 25,198 1,133 27,072 8.023 365 22,385 339 26,351 7.670 583 Page 37

vFrERANS AID NOTES TO THE FINANCIAL sfATEMENTS (contlnued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 staff costs 2025 2024 Wages and salaries Social security Pension costs 950,413 103,085 57,644 857,534 90,022 60,818 1.111,142 1,008,374 other staff costs 1 190 567 1 102 246 One member of staff was made redundant during the year and £40.640 redundancy pay was pald out 12024: none). Average number of staff: 2025 Numbar 2024 Numb•r The average number of staff, based on average head count, during the year was NBH staff and care workers Administration 16 16 The number of employees whose emoluments (salaries, wages and benefits in kind) fell wlthin the following bands: £60,000 to £69.999 £70,000 to £79,999 £90,000 to £99,999 2025 2024 The total remuneratlon of key manègement personnel, who comprbse the CEO and the New Belvedere House Manager was 185 271 179 829 Donatlons In Kind 2025 2024 Donations in Kind 275 275 3,311 Organisations and individuals donated food and other items totalling £275 (2024.'3,311) during the year (note 13). Page 38

VETERANS AID NOTES TO THE FINANCIAL sfATEMENTS (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Tru$tee$ No trustees recelved any remuneratbon In the current or preceding year. Expenses totalllng £1, 133 {2024: £339) were reimbursed to l (2024.. 1) trustee in re5pett of travel and accommodation expenses when attending meetings and fundraising events, and no expenses (2024: £nlll were Incurred in connection with a venue for a trustee5' meetlng. No donations (2024.. £3k) were recelved from trustees during the year. Corporation tax As a registered charity Veteran5 Ald is not subjett to corporatlon tsx on fits wholly charitable activities. Tangibl¢ Ilxed assets Freehold land nd bulldlngs Flttlngs and Equlpment Total 2025 Cost At l Ottober 2024 Additions At 30 September 2025 Depreciatlon At l October 2024 Charge for the year At 30 September 2025 8,800.000 938.439 136 158 1 074 597 9,738,439 136 158 9 874 597 8 800 000 123,200 123 200 246 400 812.366 935,566 181 624 1 117 190 870 790 Net Book value At l October 2024 8 676 800 126 073 8 802 873 At 30 September 2025 8 553 600 203 807 8 757 407 All flxed assets are used for charitable purpose5. In the year ended 30 September 2023 a professional valuation of the New Belvedere House/Old Rertory freehold premise5 in 5tepney was carried out by Mlchael Rogers LLP. Chartered Surveyors. Thi5 placed an open market value on the premises of £8,800,000 which is reflected in these accounts. The hlstorical cost of the land and buildlngs is £9,273.653. See Note 1.8. The charfty had no capital commltment5 at 30 September 2025 {2024 .' nil). Page 39

VEfERANS AID NOTES TO THE FINANCIAL sfATEMENTS (continue(J) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Investments 2025 2024 Quoted securities - UK Quoted securities - Overseas 451,235 754,625 365,060 684.759 1.205.860 1.049,819 Envestment In sub5i¢Jiary Accrued interest on fixed-interest investments Cash balances 781 26.841 790 42,416 Total 1 233 484 1 093 027 Listed undertaking5 Total 2025 Total 2024 Subsldlary Quotedlunquoted securltles.. Market value at i October 2024 Addltlons at cost Disposal at market value brought forward Unrealised gains Market value at 30 September 2025 1,049,819 380,272 1.049.821 380.273 964,922 358.010 (231,596) 7,365 (231,596) 7,365 (344,873) 71.762 1,205,860 1.205,862 1,049.821 2025 2024 Investment income Is made up of- Bank Interest Dividends Accrued interest on fixed interest investments 7,268 24.879 780 6,094 20,495 791 32.927 27,380 The Snve5trnent in subsidiary represents the charitable company's holding in its wholly-owned subsidiaryi Veterans Ald (Services) Ltd. company registration number 06096959. The subsidiary company has not commenced tradlng and remained dormant throughout the year: it's aggregate capital and ￿ServeS at 30 September 2025 were £2. Veterans also has two subsldSary charities, Hollenden House Icharoty number 1095308-1) and New Belvedere House11095308-2) which have remained dormant throughout the year and have no assets. Under a uniting dSrectlon Issued by the Charity Commisslon dated 3 June 2003. these subsidiary harities are not required to prepare separate accounts. Page 40

VETERANS AID NOTES TO THE FINAP4CIAL sfATEMENTS (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 2025 2024 Clothing stock Christmas cards stock Niscellaneous stock 7.765 918 1,486 2,785 1,239 1,389 5,413 10,169 io Debtors 2025 2024 Rent and housirbg benefits Prepayments other debtors 40,474 68,987 53,808 163,269 49,244 67.047 45,841 162.132 li Credltors falling due in less than one year 2025 2024 Trade creditors Accruals other eredltors 47,200 26,692 38,129 20,612 29,776 36,246 33,378 120,012 TPT IPensions Trust) scheme withdrawal tharye (see note 261 112,021 12 Pernianent Endowment Thls fund of £2,640,000 (2024.. £2,640,000) is represented by the value of the freehold land In Stepney occupied by New Belvedere House. This fund's prfmary purpose is investment in real estate to be held by the charity. See note 1. 12 for further details. Page 41

VETERANS AID NOTES TO THE FINANCIAL sfATEMENTS (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 13 Restricted funds Reallsed and Unreallsed Galn$ {Losses) Ati Octob•r 2024 At30 September 2025 Outgoing Resources Income New Belvedere House Development fund Property Funds 6 036 800 6 036 800 5 913 600 5 913 600 123 200 b Not Forgotten Association (donation In kind) c Grants for indlviduals d Move-on costs e Clothing f substan￿ mlsuse 175 59,767 (175) (59,767) 18,889) 13,478) (ioo,000) 8,889 4,411 loo,000 933 g Other donations in kind h Employment Preparation & Training Support for Westminster homeless loo (ioo) 3,854 (3,854) 3,689 6,250 (9,939) j Aftercare Fundlng Programme k Accommodation, Detox and counselling l National Lottery Rapld Counselling Response m Fire Alarm upgrade n NBH Residents dinner5 o Sensory Garden Projert Revenue Funds 46,550 146,550) 25.000 {25.000) 151,520 12,500 9,000 (151,520) (12,500) (9,000) 190 420 272 435 581 6.053.232 420,272 {558,781) 5,914,723 Funds for the purchase and development of New Belv•dern House (Property Funds)." The New Belvedere House Development Fun(i represents monies raised for the purchase and refurblshment of New Belvedere House {NBH) between 1973 and 2018. NBH is an integral part of the charfty's operatlons and long-term plans, and it is therefore felt that it Is appropriate to show Its value as a single consolidated fund including the varlous phases of its purchase and development. In the event of NBH being 501di grants from the GLA (£155,865) and Housing Association (£400.000) may become repayable. See Note 19. Funds for operatlonal expenses (Revenue Funds).. b. A donatlon In kind from the Not Forgotten Association of a TV licence for New Belvedere House Grants for Indlviduals represents monie5 provided for assistance to individual cllents and spent by Veteran5 Aid on thelr need5 durlng the year. d. Grant from the Nationwide towards client move-on costs e. A grant from the Hedley Foundation for clothing A grant from the Sackler Trust for the Substance Mlsuse programme g. Donatlons In klnd clothlng & toiletries from one donor h. Grants to help clients with training leading to employment Page 42

VETERANS AID NOTES TO THE FINANCIAL STATEMÈNTS (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 13 Restrlcted funds (continued) Funds for operatlonal expenses (R•venue Funds)(contlnued).' A grant from the City of Westminster Charitable Trust to help the homeless in Westminster A grant from Gamble Aware to provide afterca￿ funding for clients with gambling addirtions k. A grant fmm the Julia Rausing TnJst for accommodation. detox & counselling A grant from the Natlonal Lottery to assist with rapid counselling response m. A grant from the Hobson Charity towards the upgrade of the fire alam system at New Belvedere House n. Grants from supportlng trusts for Christmas & Easter dSnners for New Belvede￿ House residents o. A grant frorn the B&Q Foundatlon towards the garden walls at New Belvedere House Realised Jnd unreallsed Galns (Losses) Ati October 2023 At30 September 2024 2024 Income Expendlture New Belvedere House Development fund prO￿rtY Funds 6 160 000 6 160 000 6 036 800 6 036 800 b Not Forgotten Association (donation in kind) Grants for individuals Move-on costs NBH fixtures & fittbngs Substance Misuse other DonatSons in kind Employment Preparation & Training Support for Westminster homele5S Aftercare Funding Programme k National Lottery Cost of "ving Support National Lottery Rapid Counselling Response Revenue Funds 170 85,033 50,000 25,000 loo,000 3,141 (170) (85.033} (41,1111 125,0001 (ioo.000) 13,141) 8,889 9,909 {6,055) 3.854 8,000 (4,311) 3,689 3,426 49,500 (52,926) 75,000 175.000) 470 698 467 600 6.173,335 470,698 {590.800) 6,OS3,232 Funds for th• purchaw and developmont of New 8•lvedere House (Property Funds).. a. The New Belvedere House Development Fund represents monles ralsed for the purchase and refurbishment of New Belvedere House (N8HI between 1973 and 2018. NBH 15 an integral part of the charity's operations and long-term plans, and it IS therefo￿ felt that It is appropriate to show its value as a single consolidated fund includlng the various phases of Its purchase and development. In the event of NBH being sold, grants from the GLA (£155,865) and Housbng Association (£400.000) may become repayable. See Note 19. Page 43

VETERANS AID NOTES TO THE FINANCIAL S7ATEMENTS (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Funds lor operational expenses (Revenue Funds) Continued.. b. A donation in kind from the Not Forgotten Assoclatlon of a TV Ilcence for New 8elvedere House Grants for individuals represents monies provided for assistance to individual clients and spent by Veterans Ald on their needs during the year. d. Grant from the Nationwide towards client move-on costs e. Grant from the Edward G0511ng Foundation for NBH fixtures and fittings A grant from the Sackler Trust for the Substance Misuse programme Donations in klnd food, clothing etc. from five donors h. Grants to help clients with tralning leading to employment A grant fmm the City of Westminster Charitable Trust to help the homeless In Westmlnster A grant from Gamble Aware to provide aftercare fundlng for clients with gambling addlctlons k. A grarit from the Natlonal Lottery to provide c05t of living support A grant from the National Lottery to assist with rnpid counselling response 14 An)lysls of net assets between funds New Belvedere House Development Fund Rostrlcted Revenue funds Hollenden Endowment Reserve Unrestricted funds 2025 Tangible fixed assets Investments Net current assets 203,807 1,233,484 227,345 5,913,600 2.640.000 8,757,407 1.233,484 228,468 1,123 1,664,636 1.123 5,913,600 2,640,000 10,219,359 New Belvedere House Development Fund Restricted Revenue funds Hollenden Endowment Reserve Unrestrlcted funds 2024 Tanglble flxed assets Investments Pension deficit provision Net current assets 126.073 1,093,027 6.036.800 2,640.000 8,802,873 1,093,027 311,040 16.432 327,472 1,530,140 16,432 6,036,800 2,640,000 10.223.372 Page 44

VETERANS AID NOTES TO THE FINANCIAL sfATEMENTS (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 15 Revaluatlon reserves 2025 2024 Quoted securitie5 263,734 295,403 263,734 295,403 The revaluation reserves form part of unrestricted ftjnds In both years. 16 Commitment under operating leases 2025 Land and bulldlngs Total 2025 Due within one year Between 2 and 5 year5 98,794 3,996 102,790 123 492 130 086 Land and bulldlnqs Other Total 2024 Due within one year Between 2 and 5 years 98,794 123 492 3.996 102,790 129 775 222 286 232 565 The premises at 27 Victoria Square are leased at a cost of £24,698 (including irrecoverable VAT) per quarter. The lease was renewed on l January 2022 for a five year period. Photocopiers are leased from CF Corporate Finance lendlng June 2027). A franklng machlne Is leased from Pitney Bowes lending November 20261. 17 Related party transactlons There were no related party transartfjons other than those referred to In note 5. Legal ststus The charlty Is a company Ilmited by guarantee. In the event of a winding up each member has guaranteed to give a guarantee of not more than £10, At 30 September 2025, the totsl of these guarantees was £40 (2024: £40). Page 45

VETERANS AID NOTES TO THE FINANCIAL STATEMENTS (continued) FOR ThE YEAR ENDED 30 SEpfEMBER 2025 19 Contlngent liabllltle$ Several grants have been recelved in prior years to be used on the construttlon and maintenance of the charity's New Belvedere House freehold premises, indudlng one from the former Greater London Council (GLC). Full historfcal documentation of the terms of these grants does not exlst. If the charity was to cease using these premises for charitsble purposes there is a possibility these grants may become repayable. See Note 13. The effects of such a repayment cannot be quantified and the Trustees have no plans to change the use of these premises, and therefore they believe no further d15closu￿ Is needed in these financial statement5. 20 Housing Corporatlon dlsclosurq The Charity Is a Registered Provider of Social Housing, registered with the Homes and Communltle5 Agency in England (registration number LH0674). In preparing these accounts the Trustees have considered whether the charlty ought to prepare its financial statements in accordance with Housing SORP 2018- Statement of Recommended Practice for reglstered soclal housing providers {RSL SORP). They censider the activitles of the charity to be much wider than the provision of social housing and have considered the status of the occupants of New Belvedere House, who a benefficlarle5 of the charity rather than tenants with rights under the Landlord and Tenant Act. They have therefore concluded that it is m05t approprbate for the ¢harity to prepare its financlal statements under the Charities SORP. In addition prlvate reglstered providers of soclal houslng are required by sertlon 127 of the Housing and Regeneration Att 2008 to comply wlth a dlrettlon of the Regulator of Soclal Houslng about the preparatlon of their accounts The Accounting Direction for registered providers of social houslng. The Trustees have consldered the information that Is required by the Dlrection that is not already in the accounts and have concluded that fvrther dlsclosure would not be useful to the users of the account5 and therefore these accounts do not comply wlth the Accountlng Directlon for registered provlders of social housing. Page 46

VETERANS AID NOTES TO THE FINANCIAL ￿ATEmENTs (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 21 Income from government grants The charity was in receipt of amounts from national and local govemment sources as follows: 2025 2024 Revenue grant5 (credited to restrlcted funds) Revenue grants {credlted to unrestricted funds) 6,250 76,983 83,233 84,983 84,983 22 Recondllation of net movement In funds to net Cash flow from operatlng actlvltles Recondllatlon of net movement In funds to net osh flow from operatlng actlvltles 2025 2024 Net {expenditure)/income Depreciation charges Investment income Gain on Investments {InC￿ase)/decrea5e in Stocks (Increase)/decrease in debtors (Decrease)/intreasÈ in creditors movement in pension scheme provision (4,013) 181,624 (32.927} (25,501) 14.756) {1.137) (7,994) 205,121 186,459 (27,380) (81,802} 1,677 {20.950) 20,032 12,900) Net cash provided by operating artivi￿e5 105,296 280,257 23 Analysis of cash and Gish equlvalents 2025 2024 Cash in hand and at bank Cash with Investment managers Cash equlvalents - vouchers 166,933 26,841 117 279.609 42,416 330 Total cash and cash equlvalents 193,891 322,355 24 Analysig of changes in net debt At l October 2024 279,609 42,416 330 At 30 September 2025 166,933 26,841 117 Cashflows {112,676) (15,575) 1213) Cash at bank and in hand Cash with investment manager5 Cash equivalents - vouchers Total 322 355 193 891 Page 47

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VETERANS AID OTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2025 26 Penslon Plans 26. 1 The Pen51ons Trust Veterans Aid formerfy partlcipatet1 In The Pension Trust {TPT)'5 Growth plan, 3 multl-employer scheme. On 30 September 2024 Veterans Ald gave notice to TPT Retirement Solutions of Its Intention to wlthdraw from this penslon scheme. The exit charge of £33,378 was accrued in the accounts for the year ending 30th September 2024 and paid in February 2025. Veterans Ald is aware of future legal Judgements that mlght lead to an additional charge being levied. At 30 September 2025 thls was not able to be quantified and so no provision 15 made for that charge within these financial statements. 26.2 Royal London 26.2.1 Veterans Aid now offers a plan with Royal London to its employees,. at the balance sheet date there were 14 active members (2024: 16). 26.2.2 Members paid contributlons at rates between 5% and 15% of gross salary durlng the accounting period. Veterans Ald matched the members ¢ontrfbutions UP to a maximum of 10%. 26.3 other Schemes 26.3. 1 Veterans Aid permlts Its employees to contrlbute to alternative schemes If they opt to do so. As at the balance Sheet date there were 2 {2024: 1) employees doing so. Page 49