boaztrust The Boaz Trust O Mcyncheslef bosed chorrty pyoviding accommodalion and supput lor people seekrTh3 so￿*V0ry in Greofer Monchesler OfK* the $￿0Vndrng ¢yeos." ond using whot we leom Ihrovgh ow work lo chaNenge and chonge the uryusl syslems Ihol couse deslitutlon, bolh locoly ond noticir*oAfy. Trustees, Annual Report and Flnanclal Statements for the year endlng 31 March 2025 Chority Regislrotion Number (Englond ond Woles) 1110344 The Boaz Tru51 T￿￿tee5. Anrmjd Report Conlents Reference ond Admird5trolive delafs...... ............................ Report of Ihe Tnjslees lof year ending 31 Morch 2tr25............. Letter of introc*xlion from cu Choir of Twslees ¢)nd Chief Exec. ...... ...................... ChJity objects, Purpose. vision. rnis%￿ ond volves......................................................... Summory of our moin aclivities.............-....................,............._.......................................... Stolemenl on PuL￿C Oenefit..................-...... ..... ............. .............-....-.. .... ... .................... The wicler conlex1 d(rffjng Tr24-25................. .... .... .... ... ... .... .......... ..... ... ..... ............10 AclNevements................................-....-....-....-.......................................-...-..........................12 Accommodotion ond wpporl for peor4e refused (wlum................. 2. Flooting support fLx people vlho hove rrf) fecovrse to public fund5......................17 Accommodotion ond support for people grante(I refugee s1¢3lvs... Wellbeing ond ho&stiC integration supp￿1.. ... ............ .... ................ ... .. ................1g Advocacy and Influencing ........ ......................-....-...... . ..26 VolunIee￿...............................................................................................................................27 .14 Slruclure. Govemonce and Risk ....,,............................-..................................................... Sofeguording . Plons for Ihe futLve................................................................................................................,31 Fun(*atsing.....................-....-......................................................-....-..._..................................32 Financid Review... Indeperrfjenl Exon￿r￿'S Rep(Ml .........................,,..,,,,..,.............................,,...,,..............,.. stalement of Finonciol Activilies...-...-....-.. -........................... ..-....- ..-...............................37 Balance 5heel.................................-.............-............................................................. Cosh Al￿ Slolemenl...................................-......-.........................-........-...-..................-. Notes lo the Fw)anciol Slolemenls.................................... ................................................41 Ihe 8ooz Trusl TIL￿1885. Annual Rewl Refeience and Admlnlstsatlve detalls The Booz Trusl Is o ￿gIs18(ed chcthty In Engbnd ond Woles f￿. 1110344. Offlce delab: The 8ooz Tlust Ihe Kolh Locke Cenlre. 123 Moss Lor*9 Eost. Monch&slw M15 5DO Tel. 0161 1056 Truste Trustee5 who $￿e￿ durtybg Ihe Ye￿ ond vp lo the dole ol It*$ lep￿1 vrte as Idlrhvs: Leoh Amick Penny Applegota Mike Arvndale Hasson Hossonpour Mortin Palmgr oger p￿lIpS Phil Rawlings Suzonnah Sammon5 - Dove Smilh New Ops sub s¥oup Ho￿￿r9 sub ￿0￿p. New Ops sub group Slrolegy and Fi￿nce sub gyoups Flnonce sub Gyovp Stepped down M￿ch 2(r25 Hou5iry Leod TfU5tee. houyry sub ￿up Choff. FIn0￿e sub ￿0￿p 5oleguording ieod Trvslee Founder ond Housing suts gVOVP Chlel Ex•cuttv• Ros Ind•p•nd•nl Examlne McKellens chart￿ed Accounlonts I l Riverview The Embonkmenl BUSW)￿ Pork Vale Rood. Heaton Meffsey Slockrkn. SK4 3GN Bonke The co.0p￿at￿e 8onk PO Box 250 Chorities Ai¢J Fthfftdolbn Bonk 25 Kings H￿1 Avenue Hlll Wesl Malling Keni ME19 4TA Skelmersdale Loncasho WN8 6WT operty owned by Boaz Tw A Flopwly wh￿h ks ¢)wned by Ihe ch￿ty IhovlTrJ teen gifled to thè ￿00n[soli0ft rrfevlouslyl is now iegislered wilh The Oir￿la1 Cu510(￿n Fu Chorities lynce Seplemb The Boaz Trusl Truslees, Annvd Rep(xl Report ￿ the Tnpstees for Ihe yeaf endlng 31 March 2025 The Trustees ol the Booz Trvsl ￿e pleosed to present Iheir onnvol reptyl ond Ihe fir￿n¢1¢y slotements fu Ihe year endrKJ 31 Mcxch 2025. The reference ond administrative inlofmotion set (xjl on poge 3 f¢yms porl of Ihts repc*l. The ffnonciol slolements comply with cuffenl slolutory requlrements and the stotement ol R8c¢JTrmerKled Praclice . AcccNJnfrng and Rep(xting by Chorilies". SORP applicoble lo cfv>ilies preF)oring their (Xcounts in ￿¢￿(￿Jnce FRS102 The Btsjz Trvsl Trustees, Anfil￿[ Reporl Letter ol Inlroducllon from our Chalr ol TrU￿ee$ and Chlel Exec. Deor Fr￿nds. We ore ple¢)sed Io Pfesenl Ihe Booz Trv51'5 Tnjstees Annvol Rep￿ for 202425. ond il is privlege lo shcxe wilh you the l¢xJmey we hove been on over the posl 12 monlhs. D￿ng this pefjod. Boaz hos c¢Jntinued lo omer 5UPPOrt and soli(kJrity to peop seeking soncluory. dvring o time morked by both significonl chollenges and moments of hope. Amidst a shiftiTrJ and. ot limes. increosingly h05tli e national convefSOtion around migrolion and asylvm, we hove remoined C￿lmi11ed to upholdirwJ dgnity. compossion. and juslice. This commilmenl has enobled the rAovision of sofe occomm<>aotion. procllcol orbd emolional support, ond o ploce of welcome to mcxe individvols thon ever before- many of whom would olhefw6e have faced deslilution and isokJtion. In lotal. 8oaz worked with over 6CX) people. oflering rbol onty proclicol osyslance bul otso o message of value. belon9ng. and hopo. The ye(Y hos seen mony individuols toke significanl slep5 tOW￿d5 slobiffity, K)me sec￿ng refLKJee slolvs. vthile others continve to novigole Ihe osylum Fvocess. Kev developments included the expon5ion of outreach programme5. 0 slralegic review of housing rmovigon. ond conllnued odv¢XOCY o falr ond more compossionole osylvm system. The fesir￿nCe and couroge ol Ihose al the he(Jl of the work hove ¢onliNed to shape orKI InSp￿e the dwe¢lion of the orgontsolion, This lep￿11n9 pwiod olso muked the 201h onniversary of Booz's b&ginning5- on informal gathering of fviend$ 5VPP(xting Ihe vision of lounder Duve Smith. The progress mode over Ihe post Iwo decades ieflects the coleclive ellort of so mony friends ond portnws (Jnd we are ￿ateful lo everyone who hos pl(ryed a in 1tr¥5 joumey. This report offers on Ove￿ieW of the ye(y's impact and o felleclion on Ihe ongo+ng work to enswe that love. welcome. and iu5lice remon cenlral-even in the mosl th'fficvll cKcumslonces. Wilh Ihonks to y¢)v all for slonding With LPS. Rev. Conon [*. Phil Rowlings Choir of Truslees Ros Hollond Chiel Executive The Boaz Trust Trvstees. Annvol Report Charlty objects, pufpose. vlslon, mlsslon and valve5 The objecls of Ihe 8ooz Trusl 0$ sel oul in its govefring documenl ore.. To refieve finonciol hordship omongst those seekirtrg asylum. Ihose gonted osylum ond olhef vujnefoble Mi￿OnI5 who ole (J&stitule and fving lempor¢yiIy ¢Y pefmonently In Greater Monchesler and the SLKrovnding (Yeo. Thts w41 be done particukxly but nol exclusively by the rxowgon of teMp￿ary occommodolion. odvice. infcxmalion. supp￿1 ond odvococy. Such olher chariloble purposes lor Ihe benefil ol Ihose seeking osylvm. those gTonted refvgee slolvs ond olher vvlneiabie migonts who Ofe destitute. in such ways os the Trystees sholl determine. Ow Vlslon Is that peopEe who seek solely in Ihe UK ¢ye wekomed here and free lo live lile In oll ils I￿1Th￿$s. Ckn Ml$4¢>n h.. To provi(Je occommV8C¥-WKtr￿J4rKVcI 2025 J hllps'./lwr+w*JelvgeecOuncl.￿g.vkls1Oy.infC￿medlexF￿￿sItOplQ¢ts-￿QnFIh•.lO1O$t. 5talhstics-on.retugees￿ld-paoQ1tr5ee￿Irn9-OsY*JMl The 8ooz Trusl Trustees, Annual Reptyl 11 ￿ within this Increosingly hoslle environmenl Ihal the Boaz T￿￿1 h05 conlinued lo provide accomm¢xl0ti¢￿ ond Supp￿ Pof people who hove become d&stilvte here, while olso wcrfking rn￿e widely lo try lo t￿ng on end lo destituli(￿ omorvJ people 5eeknn9 sancluory in ow communilies. 10 The 8oaz Trusl Trustees. Annuol Rep¢yl Achlevemenls The olm of Ihi5 seclion is lo demonstrole whal Ihe Boaz Trust ha5 octr¥eved ond the oulcomes of its w￿k dufing the 2024-25 financiol yeor. INe reporl on our octivilie5. demonslfoting the benelils Ihe Ch¢￿ty hos trAoughl lo people who have becoffle homeless thfough the osylvm Fxocess. inckjding Ih05e who hove hod Iheir oppficalions rehJsed Ihose who hove been gonled refLMpe slolvs. The proce55 of this review olso helps the Truslees enS￿e the charity's ￿rn5. objeclives ond ocfvities remcwn focused on its sloled pwposes. In lotol. during Ihe 2024-25 finonciol yeor w• $vpported 625 peopkn fvorn 51 dlknenl counlrfe$ 4 This is o significonl ￿￿eaSe ol just oveT 166% comp￿e￿ to 202>24. mode posgble IhT(xJgh Ihe developmenl ond expanslon of QLV oulreoch prwammes ocross Greolef Monchester. DLMing the period covered by Ihis reporl. we provlded 18.810 nlghls, occommodallon lor 71 people who hod become homeless through Ihe asykjm process. We supported $72 people Ihiovgh our outreach support work wilh people who hove insecufe immigrolion slolus ond those loc￿ng homelessne55 afler being onted refugee stolus. l 88 people ￿cured p051tlYe hou￿n9 oulcomes- in olhef W￿dS Ihey now hove somewhere sale lo sloy Ihonks lo the support they received from 8ooz Ihs yecx. In the foMov•ing section. we will Fyovide more de101￿d reports ￿ the impoct of OL work. As olways. we recogrwse Ihe imp(ytonce of heoring from people vlho have rirst.hond experience of facing deslitulion and who hove been wl of ovr 8ooz st¢yi this yeor. Rohel was felerred lo 8ooz following Ihe refusol of hef Cys￿uM ckjim ond during her lime wilh 8o¢x we suppcxted her lo find legol odvice. She wos oble lo subrTht o fresh cloim ond was evenluolly gronled refugee slotus. Rohel shored hef slory as oort of oth Clyislmos Appeal in December 2024 and we're $0 gfoletul for her W￿ingnesS to shue her experiences in Ihis Way. 4 Al*￿v￿}I1￿. ANX￿10. Aty￿0. hngokj, &orKJooesh. 8olswaTh). knffK￿, Chcd CThir￿. Con9D. Col• d'l¥w. DRC. Egyol. &ilroo. Elh1ok￿, G(￿. Geofgk>. Ckna. &Jinea. In(*J. Kenya. Kv*ail. iibwlcL L*ytt Mfkn. MokS)vo. l•uocco. Nort40. Nepj. Niger. Nuerio. Paki510n. Puknllr*. Rv5sia. Sortya. L•Dr)tr. Sonkyio. S¢AJlh Alilco. S￿In sw3￿. S￿1¢1 I￿￿a. ILMkey. USA. Vlelrun. z1mtx*￿¥* The 8ooz Trust Trustees. Annvol Report Rahel's ￿Ory "I Ike to k> Ihe cvu woukln't lknd ￿ hwe todoy." Wilh the slotllily arKI 58cu￿ty Ihot come frwb sofe oCC￿nm(￿j0fK?n. Rohel beoan lo r￿0Ver from hef experienc8s ol d6Stitut*￿. a WFpcfl wort￿ by heT sKle to offer proclicd. emolionw ond be slr(Y)g." low Ra￿1 Is SI￿￿. leoching peop* to cc*)k trKI tsvc¥kirvJ tQ••nJrds god of getllng o jb. She's d50 generously wen her time lo V•lth BO￿ in vrwi(xJs Wtyfi. Sh8 rcm a cook (kng lor SUF)pcAlus d￿1vj Ihe p(￿deMiC. hekl o trod111￿￿ coffoe cwernony ol Boctt Fon* and p￿t￿)I•d kn c￿1 2￿24 thislmas Apped rth, DurfrwJ ts lknlrg, when we oskel. Komron. ¥¥ho wos svpr(¥ted by P4)oi d￿9 2024.25 In 2024-25 we conlinued to provide sofe ond stoble (Kcommodation lor people focing homelessness crfler receiving a negolTrTe decision on Iheir (wlum d(*m. Fonowlng o refusol of on owum cloim. people usuony lose Iheir entitlemenl lo osylvm suppc¥l laccommodation ond finonces provided by the Home Ollicel ofter 21 doys ond (ye letl w?Ih no recourse lo pubknc funds. Mony of Ihe people we w￿k wilh ore leffified of reluming lo their home country. for fe(y of véhal they might face Ihefe. Most wont lo rfrengoge with Ihe asylum process to help Ihem resofve their Insecure Immi￿OI10n slolus. During 2024-25 we Pfovlded sale and slable accommodamon In thor•d housrf for 32 people whose a$y￿rn appiicalions hod been refused. This yeor we provided housing fLY I I women and 21 men oged between 25 ond 71 yeaf$ 4Jld. This yeor 12 pw)pl• mov•(l on from Boai to oltemtslive occommodo1i￿. aller a minimum ol 12 months of support. These move on polhw(yy5 include Sectid. holistic support over Ihe course of this ye￿. We have SUPPC>rted people lo register with the locol NHS GP svrgery, ond occess emergency medicol crye where nee¢Yed. 0$ well os fefefring people ILY mentol health 5UPPOrt and olhef special￿1 services. We trKJve Visited people in hospilol and wolked dongsLle people as Ihey hove iecelved 13 The 8ooz Trust Tn951ees' Annual Rewt difficLAI arKI life rimitir￿ me(Scal diagn05es. As ever. Ihts hos been o choHen£¥ng year. and n their I?￿ne¥s lo solely. os well os in Ihe UK. L•gal supporl Everyone v*ho stoys in o B002 house ond who needs supp￿1 reguding Ihelr immigration status hos occess to immigrotion odvice tlyough ￿r pcytnersfmp V•ith Greater Manche51er Immigrolion Aid Unil. Ihis s>ortnetship IKts been vilol to en9Jre people have occess to good quolity legol advice. inclu¢Jng hoving yeviovs pape￿40rt reviewed. feceiving feedback on new evidence collected. 0$ well os specific odvice ab()ul how lo progress Ihew legol coses. where tht5 is possible. Accessing legol o(fvice remoins one of Ihe t)iggest chollenges laced by peoF4e we work wilh, with fLffthef TeducliorG lo legol aid ond locol provThon of Unmi￿allOn odvice dwing the ye￿. Legal snopshot ol the yeor. 2 lul doy legal cliThcs f￿ people wpported by Booz lo meel wilh an immigration odvisns ¢ visiling Castlefield Wiadvct Gorden orbd hoving o coffee togelher o o cieolive session V4ilh on NHS welbeing ort Iheropi51 ¢ ollerKling o Flm and Firbolé event in Slockport lo celebrole Wock Hislcyy fvAonth", shor5ng Alricon ond Cn-EU bockgr¢JJnds. Booth Cenlre provides flooling supp(xt to people from EU bockgrwnds, orKI GMIAU provide immigrolion advice lo onyone supp￿ed by RESS. During Ihis yeai. GMCA provided on vplift in lunding for RES5 providers. vthich ollowed us lo Incfeose OVT Staffiro capocity by l.OFIE. Ttrw5 ￿creaSed capocify helped us wuk wilh $￿Tr1￿con11Y more peosye. RESS is o portrGM project. ond we contiwed to receive relerrols lor flooting svpport from oll l O b￿0￿gh5 01 Greoter Mortrcheslw. We mel [￿Ople in thew locol oreos (for exomF4e. ol locol librcyies or ol parlner ￿ganIsatIOn premises), orid ron 4 drop ir6 a monlh ol Poflner orgarM5alions. We worked wilh 245 people In Ihe yeor. wilh 210 new rele￿015 this yeor (plu$ 35 fvom 202&241 133 peorAe who had been refvsed osylvm. 23 peoF4e who were in Ihe osylum system. 89 people wilh diff￿e￿I immigalion stolv5 1 htslories linclu(*ng people viilh non-EU visos wilh NRPF. vthefe leove hod expired or been fevoked. ond people wilh unclear or unknown immigation slaluSI. 41 people occessed accommodolion Ihrough RESS supwt: 16 rnoved to Home Olfice occommodolion. 9 moved to 8ooL 13 moved lo ABEN. 3 moved to olhef occommodation. This 15 rer￿rkOb1e ond lestoment to the h￿d wLKk ond tewcity of our specidisl support Worke￿. Due lo Ihe mony b￿rIerS p&ople wth insecure imnyolion slolvs foce. il is not Possible for everyone lo be supporled lo acce￿ accommodalion. Howevef, we hove continued to receive feedbock thal Ihe opproo¢h loken by the RESS team wos ¢Me thal people ht)d nol exwienced often: where people were ItslerEd to. Unde￿ID0d, and fiven lime leven when Ihefe was no tongible ovlcomel. rhe Booz Trust Trustees, Annual Rewt ir yGv Alongside s()pwl Io OCC43SS occommodalion. the RESS leom offefed specitS1st orbd hotis1￿ floating suppcxt lo help od(*ess other support needs. This if￿lUded supporling people lo: (Kcess finonciol support lusmlly I￿Ough the Mig(onl Destitution Fund) access heollhcare arKJ speciolist services. progress their legol ytvation through legol support Ifor exomple. OppI￿ng f Subjecl Access Reqvesls frcm Ihe Home Ofke or supporting people lo ollend legol oppointrnents. ond 5UPPOrt viilh ouclioning legd odvlce they h(Kl been given) RESS fLmdng inckKJes o Pw50ndisolion Fynd, where we con yovide personolised financial SUPP¢yI as reqvesled by Ihe ifKJiwdual. In Ihe losl ye(x. this ho5 included supermorkel vouchers $0 peo* can access bosic essentials. Vouche￿ lo buy opF*oKxiole clothing ￿ shoes d￿ng the winler months. ohones so Ihol peo￿8 can keep tn contocl with friends. RESS ond olhers sVPPQrting th¢m. and bus lickets lo Iravel to oppoinlments. Nodlu. a ¢as• ￿ wrfllen by one Ihe RESS leam. When I mel Nadia. oged 69y￿, she w05 extremely ¢S15tressed. Her Imffmgrolion sIILPOtion was nol c￿01. and Nocffio (fid not Seem lo vThderstorKI it dther. She hod wffere¢J troumo from o fomily rnembef which mode Na<50 so upsel ond mode il hord to Lmpick her circumslanc8S. l used an interpreter over the Phone lor ow meetings.150￿ reolised Ihat I would need to arronge weekty meetirKJs wilh Nadio due lo her emotionol distress. which mode it oveTr*thdmirtrg IOT her to (￿SCuSS Ihirus f(x long peflods of lime. She needed o very genlle, and undetslanding opprooch. I wpported Nodio lo access food. firsl. by providlng food porcets from lood clonoled to 8oaz and by giving hef Asdo vouchws vthich we were able to bLry from the RESS personoSsolEon fund. Nadio also stnNagled with moknlty so fin￿ng o lood bonk was essential in the longer lefm. One hod recently opened neorby. orKJ I gove Nodia the delals for her to go. She lalef l¢Sd me Ihol onothef lody olso living In the house was going loo. I cld o Subjecl Access Request lo flrKI ovt ab￿1 hef imnThgrolion situation bul knew this would take at leosl o monlh. In I￿8 of ow meelings. Na¢So showed me vorious pieces of popef wilh infomolion wiitlen down ond one wos a soficllor's card. Together we called them. The soldtor lold me Ihal Nadio hod a viso they hod subnitled o 'chonge of crcumslonce, Op￿cohon. I supwled NadKJ lo register o GP very close to where she fwed. She was ob lo get the medicolk*n needed qimckty. No(￿a had been sent letIe￿ she didn'l undwstand x) I wos ne ap￿Intments and ongoing folow vp work we supp(xl people lo identlty ond occess OPFWate housing opporluThlies. Through Ihis prcyecl we have seen significonl nvmbers of people occessin9 occommodolion. Since Jvne 2024. we h¢Jve wcwked vlilh o tolol of 23) pe￿ and pported 67 pgople lo access accommodation. Of those who hove move(1 Into occommodotion. we've seen I¢X)% lenoncy svstalnment. Olhef SlJPWt outcomes hav? included: people svpported lo access wellorefft¢)vskng benefits. 32 people supwled wilh Ihey health. 54 people svpwted lo monoge bilb I Iheir finonces. 20 peopte suppcrfted 10 4xcess ESOL l employment 5tsppc￿l. The 8oaz TTUSI Truslees. Annvol Report 66 peo(Je 5UPPOrted lo access t>osic essenlw)Is. We have used the lecffning Irom this wort lo devek)p resowces to equip people iecently gronled stolus lond Ihose supportiro Iheml lo h'nd accommodotion. Ovr Positive Decision Guidonce wos Ironsloled into I S longuoges. shored wilh Ihe Regiond Strotegic Migolion Partnership and distsibuled to people in Home Othce occommodolion when Ihey received their 05ylum Oecisbon. Our Housing Guide wos creoled in consullolN)n wilh people vtho have 5ved experience OF the a$￿vrn syslem. while also ￿cOrporatIng ou own leoming from the past ye(y deltvering RHPP. It provides odvice on finding somewhere lo live following o positive osylum decr•ion and include5 infcffiiolion people we sup￿ed wish they d known ot the lime. 24 The Booz Tnjst Trvslees, Annual Reput 6. Advocacy and Inlluenclng The post yeor hos seen conlinued polilicol ond socielol tUrb￿ence. wlh signiffcont implicalions fof people seek)ng sanctuary in the UK. In Ihe lead-vp lo the 2024 generol election. Ihe osylum System wos in crisis. The 1*01 Migrolion Acl hod elfeclivety holled lh& Pfocessing of new cl4im5. and Ih¢Jusonds ot inrfiwdL)ats- clu(fjng people Supp￿Ie0 by Booz- foced detenti¢)n on¢J Ihe Ihreol ol removol lo Rwondo. Following Ihe election, incidents ol farrfight violence. hclvding (yson ottocks occommodotion l¢y people 5eekng 0$￿Vrn. morted o deepty tr￿J*S1ng escololion. The longvoge used in political and media discouwse reTnained dehumonising. vllh Illte acknowledgemenl ol ils rote tn fueling division ond rodicoli501ion. While the incoming Lobovr Governmenl has reversed parts of Ihe Illegal Migration Act ond ended the Rwanda scheme. il hos inlrodvced new (estrictive meoxKes orKI conlinued lo use hofmful fhelo(ic. In ecxly 2025. the Govemmenl announced changes lo the 'Good Chorocter Guidonce., denying mony people wilh irtdefinile leove lo remoin the opportunity lo opply for cilizen5hip bosed on how Ihey arrived in Ihe UK. Thi5 pcAicy risks undernNning long.lerm inlegrotion ond belonging, Ihe B¢rder Secvrity. Asylum orbd Smmigollon 811. cwently Fyogiessing through Porficwnent. prip05es exporKJed delention powers while foiling Io CKlctress Ihe lock of safe rces ond pefspective5 of peo novTgating the UK osylum system ¢ye heard and octed vpon. Contrfbullng to more hjsl and indusive policies ond proclices al every level. Since we were fourtrded in %YJ4. have been p055ionole obwl seeking jvstice, recognising the impofloT)ce of odvocoting meaningful chonge ond challenging Ihe noffotives thal mofginolise and exclude peoFAe seeking sonctLXJry. We will continue Ihis work ol Iccol. regionol and nolional leveb, creoling more Opp￿tunItIeS for our community lo loke oction. The 8ooz Trvsl Trustee5' Annual Rewt Voluntee As olw¢Tr5. we afe thankful lo people who hove volunleefed Iheir tlme or*d skills alongside our sloll leom thts yeai. During Ihe second harf of Ihe year. we developed ond lavnched our new slieamlined vdunleer Tecruitmenl ond suppryt process. ond we hope lo be oble lo work with more volvnteers in Ihe ￿ture. In %Y24-25. 20 individuol volunteers ¢onlTibvled lo our work in o ronge of differenl woys. 9 voKJnleers served os Truslee5 thss year, leadng the governance ond slroleg•c ovef51ght of Boa2. As port of thi5. Ouf Truslees p(Yticipoled in qU%ylerly full bo(yd meelings as well as focussed sub grovps inclv(ffin9 finance and housing. I I volvnleers supporled ow work in other areas inC￿(ring.. 5 Wellbeing octivity facililotrxs. leoding sess￿$ on o fonge ol Ihemes; Crochel o Pilotes o Women's heolth o Art For wellbeing o Menopouse 2 Hcwsing monlenonce volvnlee Supporting sloH wth repoirs ond mointenonce losks 2 Relvoee Svpwt work v0hJnle￿S Creating OLN new housing welcome pock Empowermenl orKI Inclusion volunleef facilitator o PlonrMn9. organising. anolysing ond fepThling on focvs groups 0$ of the Refugee Homelessness ￿eVentiOn proiecl. I SEO specbalisl volvnleer Ensuring that we are "Visible" onlre so Ihol wpwlw3. fvnders and perhops mosl import¢Jntly people who rbeed ovr 5uppoxI con find vs. We ore so IhankhJl to everyone who hos ployed Iheir p(yl in supporling our wuk this yeoi by chooslng to invest the* time in Ihese ways. 26 The Booz Trvsl Trustees, Annual Report Structure, Governance and Rlsk The Booz TfU5t wos formed in June 2W ond regislered os o chority on 6 Jutyv 21X)5. The 8ooz Trust wos established under a model Irusl deed which esloblished Iho objects ond powers of the choritoble trust. ThSs struclwe wos deemed lo be m051 opproryiole when the ￿gOr¥sO110n wos fvst estob1￿hed. howevef in Truslees ogreed thot we would explore the polhwoy lo eslobSstMng Booz os o Choriloble Incorporoled Ofgonisotion. We submitted our opplicolion lo regi51er Boaz Trus10$ 0 CIO. ond Ili5 was approved in May 2024. The process lo chorige lo the new orgonisolion hos laken longer thon onliclr>oled ond we Ofe now wthing lowuds o transition dole of lip April 2026. The 8ooz Tnjsl is governed by o Boord of Trustees. elected to swe for o period of Iwo yeors by resolvlion of existing Trvstees ot special meetings held under Clovse 15 of Ihe TIvs1'5 constitution. The Trustees ore Tesponsible l¢f the ovwoll monogement of the chority. Truslees ole chosen f￿ Iheif commilmenl to people seeking sonclvary. tt)e¥ support for the valves and ethos of Ihe ￿90n$￿tion. ond lor ss)ecsr personol and l or protessiond experience ond experltse. (SJriTrJ 2024-25 Ihe 8oord of Tnjslees met w(Ylerty in per50n, wlh cKcoyond online meetings when Ihis was Tequired. Al Ihe end of the yeor. we hod 8 Trvstees. M(ylin Polmer slepped down from Ihe 8ooz of Truslees in March 2025 and we are incredltty grolefvl for Iy5 ewertise and ¢SilvJence in fulllling the role of Finonce Leod Twslee for mcmy yeofs. The role ot o Bi)oz Trustee 15 sel out in our Truslee fole de5CriPtion wt¥ch defines Ih? dvties ond responybl￿lles ol o Twslee In context of our vision. Va￿e$ orKI work 05 an mmerKJolions lo Ihe full boord os oppropriote. The Chief Execufve 15 oppointed by Ihe Tnjilees and Is occovntoble to them for monoyng Ihe charity. Booz hos o Leaderstr￿p Teom which inckjdes Ihe Heod5 01 Accommodati¢Jn. Opefations ond Support SeThices, os wel os Ihe CEO. On the 3111 Morch 3)25. 4ve h(￿ o slaff leom 0118 people v4ith an FTE of 15.2 ar￿ Ihis was OL stoffing slrvcture: 27 The Boaz Trust Truslees. Annuol Report booztrvst Staff Team. March 2025 R•mun•iallon PcAYcy Key Monagemenl Pernonnel The Boord ol Tnjslees ond Ihe Ctwel Execvtive Ofker ¢ye responsible for drecting and controling, running ond opefah'ng Ihe Ch￿lty on a day-ltrdoy bosis. AH Trvstees give Iheir lime freely ond no Twslees receprfed remunerotion in Ihe yeor. All posls ol Ihe 8oaz Trust ore potd OCCOfding lo the levd ol iesponsiblty in their role5. Sol¢yies ore benchmarked ogainsl ￿gon￿oI10nS ol 0 5imilor SFze. I￿ation ond service using NJC scales for gL)idar¢e. All slott ore paid obove Ihe real knving wage. Rlsk Managen￿nI The Trvslees have os5essed Ihe molor f6sks to which Ihe charity is exposed. in porttculor those relaled to operations ond ftnonces. ar￿ ¢Je soltsfied Ihot syslefffj ore in place to mltigole exp0s￿e to the ma1￿ risks, Risks cye considered under the heodings svggesled bv the Chority Commissw)n: Governonce.. op￿allon01. Finonciol: Extemal Enmronmenl., Comphance ond Rewtolion. The TnJslees require Ihe Chief Execulive lo octivety manoge Ihese risks thtQU9houl the yeor. and o risk motrix has been developed to support IFMS Work. The 8ooz Trust Tfuslees, Annual Rewl Safeguardlng We believe thol everyone hos Ihe righl to live ripe free frorn obvse ond exploitotion. We commil to upholding Ihol righl: ond os on (ygoni501ion we loke 'zero.tolefOnCe' of abuse whefever it ctc(Ns. vthelher it involves the people Booz supp(Nts, stoff, VO￿nteerS ￿ (f*y olhef parties. Sofeguarding ol Booz means we ore eommitled to er6uring thot people who use (yJr seryices do nol. 05 0 result of Ouf work. come to ony horrn ond dso Ihot our wcyking Fyoclices minimise Ihe risk of obv5e. We iecognise Ihol Ihe people we work wilh moy be exposed lo p(vI¢￿r risks. obuse or exploilalion in Iheff home C￿nI￿5 ond on their iourney to the UK os wem 0$ while Ihey hove been here in the UK. and Ihss can c¢￿tINe to hove c Sigrmficant bmpocl on twr physical ond menlol heollh. Stoll. volvnleets ond Twslees of Ihe Boaz Trusl hove o dufy to idenllfy abuse ond report 11.11 is everyone's fesponsibilily. We hove a SafegLFording Polcy which wos remewed in November 2024 ond is shared with all slaff. volunleers ond svpporters ond the wider generol pvblic tfvough Ouf webyle5. Cvrrenlly. one of our Trvslee5 acls as Safeguorc&ng Leod Truslee ond our Heod of Opefalions oversees safeguoiding within the ofgoni5ation. All Truslees, fegul￿ volunteers linvolved in ireclty supp(xting peoplel ond poKJ stoff urxlertake basic DBS checks on joining the organisotion ond these are ienewed evw Ihree years. Solegvording ts o standing item on the weekty leade￿￿p Teom meeling agenda and is dso r￿lUded on Ihe ogendo ol the full Bo(yd Meeting evw 3 m¢xlhs. We hove o duty lo ensure Ihal those under our ¢(ye ¢ye Fwotected Irom obu5e and exploilotion. ond that where obvse is 5Vspecled or has Occ￿ed. we hove o cleof fromewort ol fesponse. We use a recordir¥J bg lo caplwe SafeW￿(￿ng concefns 05 wel as fcwmol relenols mode. Boaz stoff hove alterKled Ihe followirbg relevonl sofegLKJrdirKJ IrolnK￿ ye¢T. Level 3 Sofeguording VLAnerable Adults ICPD Cowel new slaff have received indvctions to solegvording as part of Iheir onboordin9 prccess. Dvrlng Ihe lost yeor. no safeguarding concems were f¢ised In relalion to our woth. Our staff team mode lour saleguording refefrots lo locol ou1h(￿ty salegvording teoms belbjlf of inthvidvols we were svpporting lfvough oui oulreoch Wofk. S *wN.bcKulnJ51,nships le.g. viith local MPS) lo efFecl FN)Sittve change. particul¢yly ol a Fegionol level. ond deepen OUT SUPWter eroogemenl wort. Copture our othocacy impoct, explore new infhJencing opp￿tunitieS wilh portners. cenlnng lived expenence. slfenglhening our voice. AcfOSS Ihe yeor. Ihefe ore several core operolbond Kwiorllies as we seek to bnvest in our Inlernol capacity in the following oreos.. Flnanc•'. Tionsilionlng lo a new linonce monogemenl model to improve erriciency and tronsporency. Fundralsln9'. Revlewing our structure orbd strolegy lo secLffe long-lefm suslainobilily. HR & Govemance.. Updollng HR policies tjnd restrucluring as o Ch¢￿table IncorFxrfoled Organisaliorb ICIOI l¢y greolef reslience. Offlc•'. Ensuring office space 15 approprtote for us lo wppryl our growing teom ond setvices. Dolabose.. ￿0ping our dolo needs and polenticlly moving lo o new CRfvI As well os Ihese intemol Ihemes. we recognr￿ thot it is essential thot we continve to look ovlwords, by". Porlrjering wilh like-rrAnded orgoniKJlions lo omplify fved orKI pfofessionol experience and vcxces 05 we w￿k to end destilulion, Remoining flexitrje ond agle lo respond on(J odopl to tJJr rapidly chongirrfa polih'cal. sociol. econoiric ond technologicd envwonmenl. The Booz Trvsl Truslees. Annijol Repcxl li l¥ TO V Fundralslng We fundraise lo secure Ihe rescMJrce5 we need lo cary ovt our charitable objeclives and lo fvlfil our mi5yon. ond we do th￿ pfim¢Jily thfough inviting donolions from indivKILKJls and orgonisalion5. ond opp￿.ng lof gronls from Twsts. Foundalions ond olher grant-moking rygontsollons. Durlng 2024-25, our fundroising work VKJS ovefseen by Ihe Chlef ExecvtNe ond corned out by our Fundraising ond PorlnershiPS Monogef ond Fvndfaising Offic ITfusts ond FourKlolionsl. We Qfe regulated by the Fundraising Re￿10t(x. onl.ug.L*Ipo9es117.supp￿l￿s 31 The Boaz Twst Trustees, Annuol Rewt iyv Il 131 I￿11 iy •VlTJiTr*4 1 6V**• Thank yov lo our don￿. We wish lo Ihcmk ond ocknowledge tho TnJsts. F¢>JndotK)ns ond (wganisolions who mode our work possible during p(yl or al ol the period ol thi5 report inclLKling. I￿1 nol limiled lo: AB Choriloble Tfust Alberl Hunt Trusl EquTI IbriL Greater Manchester Combined Aulhuity tssochar Foun¢Jotion Letgh Leri Charitable Trust Mancheslef & Slockwt Methodist Dislrrl hAonche51ef (>Jor(ban Sooety Morsh chori10t￿ Trusl NACCOM- Gu(ydian Granl NatiorKJI Lottery COM￿￿jnity Fun( Re¢xh¢ng Communilies Progromme Screwfix Foun¢Jotion Society of Ihe Holy ch￿ Jesv5 Sout￿ Choriloble Trvsl The Chority Sefvlce Tieeside Tffusl Zochorms Choritoble Trust al the end ol 11)e l]5t ￿￿0th￿0 Ihe end ol dithg rhe y•tr. Thonk you lo the organisalior6. chufches and other foilh groups. corporole ond independent businesses thal generovsty svpported ovr work Ihrough finorKiol grts ond olher donotions such as food. cleonin9 supplies ond M￿e. Thonk you olso to Ihe who supported work wilh gilts and donoli<)n5. ond those wlio hove generously alowed us lo use Iheir houses It¥oughtyJl th($ yeor. 32 The Boaz Trust Trustees’ Annual Report for the year ending 31 March 2025 ## **Financial Review** This year, The Boaz Trust has achieved significant progress in strengthening its financial position, ensuring the continued delivery and expansion of vital services for people made destitute due to their immigration status. While the previous year presented financial challenges, careful management of staffing levels and available bed spaces has enabled us to stabilise and significantly increase the charity’s activities throughout 2024-25. We were able to secure new funding and, together with the generous and sacrificial giving of our supporters, sustain and expand our services. Despite a volatile funding environment, we have made substantial progress toward our goal of maintaining balanced budgets. ## **Income and Expenditure** Total income for the year was £933,704, representing an increase of £248,809 (36%) compared with the previous year. This is in part due to focussed fundraising relating to essential housing repairs / upgrades towards the end of the financial year and the development of our outreach-based work. Donations from individuals increased by 33%. Grants received increased by 23%. Expenditure amounted to £885,484, an increase of £115,508 (15%) from 2023-24, reflecting expanded services and the costs associated with supporting more people than ever before. The resulting surplus of £48,220 represents a favourable movement of £133,301 compared with the prior year, providing a solid foundation for continued service delivery. ## **Funds and Reserves** Restricted Funds decreased by £11,153, leaving a balance of £73,688 at year-end. Unrestricted Funds stood at £448,709, of which £316,209 was designated, including £198,000 held as a Risk Contingency Fund. At the end of March 2025, the General Reserves (Unrestricted Funds less Designated Funds) amounted to £132,500. ## **Reserves Policy** The trustees recognise their legal duty to manage the resources of The Boaz Trust responsibly. The charity maintains a reserves policy (see page 55) to ensure sufficient unrestricted funds are available to continue operations and meet financial commitments in the event of income fluctuations or unexpected costs. For 2024–25, the General Reserves Target was set as the higher of the Risk Contingency amount _or_ three months’ running costs. The level of reserves was monitored regularly through our financial reporting mechanisms. A full review of the reserves policy is planned for 2025–26. 33 8oaz Trust Tru51ees' AnnL￿1 Rewl We are gfatelvl for Ihe foithfulness ol our SuPWtefS ond fvnders. whose generosity hos enobled us lo novigote previous ffnoncial challenge5 and pul Ihe chority in o slronger posilion. This slrenglhened finonci¢y lovndolion wdl ollow us lo conlinve moking o meoningfLA diflefence to Ihose seektng safety in Greoler fvlonchesler dvring 2025 and beyond. The Boaz Tru51 Statemrnl Trustee5' RespoDsibllliTres The In￿[￿3 are r¢spnsiblr f(ff prep￿in￿ thr fml￿111 tl* Urtitcd Kingd￿ Actountkng ilJnii¢d KinBth)m Ge1￿•11> A¢le￿¢￿ A¢¢w¢iiw Pl￿tLY) ¥pli¢al)l¢ la¥J I￿1 r¢gulatt( l•w' ￿P11¢￿Ie w ¢harii¥ei requires the 10 rfftpre fir￿¢141 Cor och fiMn¢ial >ry *thich li￿ X tn* fxir **ifN of Swe of aFf#ir3 of ihe chuit>' ind of the in¢4)ming applicAti￿ll or %twr¢¢s of ih¢ ¢h¥il* r(x lh￿ p¢ri(Ml. In mrin¥ thme finkn¢ul thr Iruskn wr r¢yuiT¥YI w).. selta plicies and ilKn appty them LXThiStemly. jwl8¢meNs ￿ thiiiwi¢s ¥¢ r¢•swublc and sthl¢ IvhdhLY applicable 4ffOUrting ￿￿d￿d5 hlbr Ixcn followuL subic(¢ ￿￿¢[111 dr￿￿¢5 ¢h¥ifv will #h busime The Aft rt5pMsibk lot k¢¢p￿ prow 4c£ountlYl8 rccg*d5 di￿1￿￿ with tra￿able Wy lim¢ fir¥￿1￿1 sThiliw of ¢hwily ￿￿11¢ ththi li) eTrsur¢ I￿1 th¢ fiwwKi•l £onyly wrth Ch*iiiu Act 2011. th Clwiti¢5 (Acc¥)￿￿ R¢P￿S1 R¢8ulutthLS 2(K)8. the ryob'isiorts of emslilulK￿ The In￿5 Ily) r¢s￿nsibl¢ lor safeguardin¥ the asjets ol. Ihe clurlty •NI hcnc¢ fw tskin$ *¥oIMble qeps for the •￿1 dffl¢¢E1rf￿ ocfrawj odyr irrepl*ities. The th￿1<¢5 rqxThibk th¢ aml in¢wsty of Mifwmaion trILKkd ¢kn*i¢•hle cthipiy'i Mknil¢. I*¥1%1￿￿0￿ the dis*¢minaM)n of rwwbc￿I 5ts1ClnC41ts mi). diftu fTo]n k8i51•ts'oll ￿ (rthu juri5dictioTh ANYov¢d by the ofthe f ihe of Tht Ilov. Tn￿1 tht )rAr ermltd 31 Mw¢h 2025. Rt¥￿￿bbbtl15es b45is ol r¢pDrt As the chariry The Eloaz Trum art rt4xwible kn the prrwMiort of thr ith ith thc of the c.15afi￿5 101 I I'ihe Ad'l. I rcwt ijh fv4Xd ofmy examin￿1￿ of the Th¢ ljw TnJ%¢s xc(wni% (wi wthr 1¢¥1ion 141 of IIK ?01 I Acl in cam'in¢ m) examin*ion I hvt foll4￿1￿￿ all tht applicablc Directio￿ given by thc Chartt). Crnissi￿ s￿10n 14.NSXbl of tk Art. Since The 14w T￿￿.$ gross i￿C￿ne exceeded £2$0.IMXI J¥Jw eNAminLY be • of a IAN]y in scrlion 145 of th¢ 2011 Arl. I l •m qwdifird iv Und¢r￿ tk ¢x*niMith because l *n a of ICAF.V4'. *hich is lisid ikylitS. I ¢ompleied rny t￿￿1￿(10n. I no h•sr come lo my aitcntion In Jth th¢ cMwniDJiith gi¥iTrg m¢ lo b¢li¢v¢ m*tid rry*Gi'. l. rt¢ords *tre k¢V in reswi thf Th¢ Tn* u reqthw¢d by 130 of A¢L' or 2. tht acc(xMlls accord ¥Jiih tth)Je ￿¢￿d$. 3. do uMnpl>' *ith th¢ ammini requi1r￿ts ¢onc¢min8 the fmn JThJ ¢on¢¢rt of •¢w sei (NJI bn the Choriiics (Accowms and Reg￿latIOnS othcr than WJ. rtyuir¢nKnt tsrf(Nmts give a 'in* and (xir vi¢W *hi¢b is rxx • <￿S1d￿￿1 of #n Mxkp¢thnt I have eomt •¢NW (thf in eordWKYb with the ex*min#ion to t*hich Iiia*i should be drawn in ihii repon in to enablc J und¢rA4ndin8 of th¢ lo br r¢#h ul Ro￿r McK¢ll¢M I. I l RibYrvK The L￿N￿&￿be￿ P Vale Road He*on M¢tsey 0¢k￿)rt K4 3GN l Dccanber 2025 P48¢ 30 The Bo*z Trwl Sl*lemenl of Ftn*aei41 Aelfvl¢l(¥ for ¢he l'ear F.nded .11 Marrh 202$ UTrr¢5trirird Noi* and ley¢ies LThurih*l¢ •rii¥lii¢ 314 ?52 145.$9* 0,031 *74,7?8 591.910 3?8.69 J 6.031 .147.576 Eipr•di¢ure •0: Raisin8 furkts Chafitablc ¥rliViti¢s 138.08? 388.724) 121N)) 14$8.4781 1147.?0? Toul eAp¢Thliiwr 14511.6781 8$S.4X4 41220 Nd in furwls 59.372 111,152) 41.220 R¢mdllA¢hb4 ol I¥NIs Tt*l fcffwud 319,3J7 84.840 474.177 Twl fiMds cafficd fonb•rd 19 441.709 73M8 112 397 The pDse$41 to 56 fomi ￿ IN¢￿1 w of these fir4n¢iil ￿¢￿¢￿5. Pa8¢ 37 The HO￿ TrnJ( Sts¢rmenl of Finjncial Aeti%"Ili￿ for ¢hc l'ear F.nded.11 M•r¢h 202.$ {¢ontinuttl) IINr¢sirKi¢d Rr%lriried Tol•l 2024 Iyole And legacies Charitlbk %iibiiics 7￿.0 156.50J 178,061 55.317 467.071 ?1 i.s?0 6,001 Tot•1 iTrroo 451.510 233J8.5 684.895 00: 141J30) 148.$30 1721.446 Ch¥rf•ble •div4ies T4)thJ e4*oditiWC 198 ?18) 17b9.¢176 l ?0 ?381 35.157 85.081 mov4¥hxrf ID fiA 1120.2381 35.157 (15.081) Rtto•eili*tlom of fu•d Totsl br￿1 509.J7J 49.614 559 157 19 389.335 14.841 474.176 All of ilbe ¢hn"iy'$ ￿1¥11￿￿ fm the *ly)¥t t*v periLhb. The fynds lY¢•kth)wih f(Y 20?4 1$ 19. on pw 41 to 56 Corni ￿ ill*8111 pwl of these 5tsta P•ge 38 The Boil Trust IR¢%islr*lioD number. I I10.U4> B•l•n¢e Shttl ￿ it.11 M*r¢h 2025 21124 Note Fli¢d 14 06,400 67.IXXI C¥rrtAt 81.1.10 91,119? 49.401 71.910 -ryJ.?87 In¥Y%imerbiq C•Jh 4 bJr& aNt in Ih•tyJ 16 17 5U.311 421.068 Cr¢dl¢on: IAIUo8 o•¢ yur 18 88,314 114.4921 et tirrtfjt 455.W7 407.176 Nrl •55tts 474,176 i*¢ thirlty: Resirl¢ietl R¢stricicd fvDd 73.681 S4.841 Uffjrrstrl¢ttd i•¢O•bt fy•d¥ 448,709 389 J33 Tol•l f¥odi 19 5?2.397 474.176 The finwbcb•l ststernrt PV5 37 to 56 ¥yovd by thr thNee5, aThl fLV oh I Ik¥fflnlxr 202$ Ind Ixhdfby.. Phil Rawlim85 Chtismwi Penely App￿￿¢ Th¢ pase$ 4110 J6 an rAn of thttc fIn￿kn1 Page 39 The Ilou Trnst C'*sh Flow Sialem¢ni for the l'ear F.nded .1 l M•rch 2025 2•25 2•24 C.'iJh Ik•s oper¥tl•i •¢¢ivi¢itJ ¥rt c*sh irKom¢.I¢N4Ynd•fwe) 41220 185,011) Adjy%imtiily Iv ¢*$h fro* thM4•5b iitAs [kpr¢iT￿lÉlft 6.031 (Kl.4821 Wor&lry upll*l *dJu51m¢ttl* Iln¢n•stN,de. thr Tr'iMnciJl RrsMinkn¥ •Hyli(xbk in Ihe IIK •thl Ryblic or Ir¢l•nd Il".RS 10?> and flwities Ad 2011 a￿1 IJK GeKrnll% Accepted PrKtKc. The •¢¢owK¥ (finKti•l l*¢n pwwtd io give • Irue fair h1￿ from thv ctwiiics IAc¢oun15 Kcwtsl R¢sU1￿10n5 ?008 onl> ID the r¢quiftd io prv*wk a'mie •ThJ f•ir vi¢w'. is deParn1￿ invol%td fi)Il the execuiorfs} ￿ the clwivj th diyrlbw￿* *ill or *heD a disthhrtion is rcwii'cd from C￿*¢. R¢ctipt le6w. in in parL 15 onty (Th￿l￿Ted prvbable *ben the be musurtd ff liahl). the chril>' IMS kn ￿x}ried of ¢x¢rUl￿.l inleniion ￿ make a disu1b￿ILM. WIKr¢ kwics h4v¢ b¢¢n to tht ch¥ity. LW th¢ tharits. is of ￿ gnniin8 of Pro￿¢. uiieria f(K incvrne h•%Y bem then lh¢ kg¥ 18 4 trea￿d •s a (IXbting¢ffj¢ •nd dkxkmed if In*erial.lJ)Mtiorn I￿j lryxics rrfp8nts¢d * rrtrrivabl¢ bui$ ft¢tiF4 ￿ wkn4bl¢•nd tht I￿￿E can bc Teli*•ly me45W In¢{Y￿ ¥oWemj￿￿i and ￿her 44l*th¢r 'capiial' S￿¢5 or 'r¢v¢nue' 8riiit& is the clwivi, Iw cThitl¢m¢ni to th¢ fiyJd5. any pufmn•K¢ ¢oThlkiions the 8rnnis hawe been ii li (4>abl¢ that th¢ will be rtc¢ived and th¢ arnouni can bt measwed reli4bty is ￿ deferrtd. Py41 Thr Boax. Tru51 Ilolej lo lhe TrinMndAI Stitements for the Year F.ndcd.11 M•r¢b 2025 (c(Iniknued) D￿¢￿41￿C￿l￿r received in of & ¥ye¢ifKd 5CfYiCe 15 de[¢Tr￿ u￿¢11 thc ¢Ti*riJ (or Do￿L￿1 ry4)fessiutral s¢rvi¢¢s aJMI f*ili¢iv ar¢ re¢wi5¢d LhJriiV h&$ CLMtml ovtt thc ilcm. ¢ondiliMs a5x￿1*¢I1 *iih ihe item havt bea) ffteL the rec¢iw of C￿￿)mI( brncfii frtyn th¢ us¢ b>. ￿ d￿rI￿ ofthc iiun 15 wbabl¢ amd thTrL ￿￿￿nIC bcnefrt ran be me1Ju￿1 ff Iwbl>, lo I¢¢￿rd*￿t Chwrtie5 SORP 102k imthe is MX frfw*sed' recu ￿ the trPJstres' (or nxy¢ infLXWion thir c(wNriiKJtithb. On rt¢cip( professbxml XTVi¢V& and don￿￿1 fDrili¢Kry art re¢0￿¥*1 tht of the of thr fl 10 ihc dwril) wthi¢h is the &nouni the MKi•*d C(*￿ . 1..x￿ThjllUr¢ on thurtable aiiiYiIi¢s inclth th¢ w5ts of 4¢1iviti¢J fiyther the o( th¢ lryrcobrrnble VA T 15 the *hi¢h the ex[￿￿￿.1￿¢ wwre Ktiviiies thai rnise (uth. Chth¢abl¢ ¢xprThJiiW¢ ¢omryi¥<% ihose CO￿4 I￿￿re￿ b). ￿ clkvifj in iht deli%erJ of its Kli¥i¢ic5 Wrvic for itr t￿triLl￿ries. li 1Trclud￿ t*Mh coA5 r4n b¢ di[￿1). wiwilie5 th0% ¢g11s oC*A dirert n•trJir I*¢¢w io SLq)pM ¢hem. Gr¥•iwvvlslthYs Pro%'isioos Cor 8f4nLS ar¢ ￿￿1¢ wlbm the to make & ¥rnnt bten CunM￿C*d to the rr¢4>ierf IN there is WKertslnrJ •bout eithu the of the rn or the pyd)le, Pw42 The IIDU Trusl l%oles lo Ihe Financial Stat¢m¢nLi fur ihc Year F.nded .11 ,%l#reh 20214 lcootlnued) Support ¢ihl% those fimcixw *ssis1 of the ch￿lty do not dw¢¢ity Ch￿,￿b￿ i%'liK￿. ¢05t5 include vlTKe finwK¢. ￿KY￿ne1. PJYTVII %L)1'ttlla￿L. *hich support th¢ '> prosr*nMn¢s aai¥btitk Thcs¢ costs UC thc ch¥iry just h*% one rii'ity. IIK, Inri￿￿*￿t ifr the L**rity's eornpliance thiih C￿1￿1￿￿1 Stat￿Y requve includin8 lludiL ￿rategIC rninogemmi rnerfin¥s Ind rtIm￿r￿a ex￿￿¢ T*x*tlon I'h¢ ¢harii* h c(thIde￿d ￿ ras5 the tssts oul in Pryiph I 6 of ihc FiMKe Aa 2010 and th¢r¢forc il nK¢ts th¢ d¢finilion of a Chwiiable cmiwy for Uk u)ryM)r•fion ￿ puryK￿*. Acthxdu¥l). tht arily ts w¢mi*llv ex¢mo in re4Yci of Incon￿ or capiral 8&in5 Ttccibrd within c1￿¢¥￿rI¢S covercd b> Lh4ptu 3 I l of the 'fL* Ad ?010 or Se¢11￿ 7$6 of ihe of Chatstthblc G•iL* Ath 1992. wthe th¥ or gwns are applied excl￿1￿. Imdivitluul liied wilh • pU￿h￿t &Yi¢e of le&$ kn £1(￿) ¥e r#Y WIIS￿. lThlIvidu￿ fixed 4s%ts Wr4in¥ £l(KIO (Y m(*e are Capi￿115¢￿ * ¢ost rctyrnbk on T¢￿1p( •nd we dtwtcl￿e￿ obrr ththr eslimatd economic libts ofi a line Tr 8tftcd io the 1 Sih JNiunry 2019 bTw8hi inlo the •(rwThL% ¥ ihe $urv¢yorfs valuaw)D or £70.OW. As tr￿￿¥5 plan ￿ main￿n thE condi[￿ ol. the worffj. th¢ ¢5tillA￿Yj I•1￿ of ￿$¢1 on ihe tr*lLthfi￿ of ihe land w £40.IXKI 15 10 be &pr¢cl￿￿ JO yArs, Dtpr¢clailoth #obDrtiy*tkn DwrrEiJ(W 15 (ML tan¥ibk fixed 90 •5 10 Wri￿ off the coll tt55 e#lmthd rdidual walue. their eXp￿￿d useful Cconomic lifr ￿ folhjws: Cttrreni In%eqlrnent5 Currwil &¥s¢1 #t¢ the of *nd rtali￿le I mHthi v•kn. Trnde d¢lAorn On.￿￿TI￿1 ¢1￿•￿11￿C fur fewJl# lic*w ty thwions tb4 gtr*ldlt the )ur (nd ue tre4kd &$ ¢1￿mIllUre in ihe >tar W. ue ￿ld C*sh ¢•ih tq•l**lehls Cash It ￿lIk and in hatyj ir*1￿% I￿1 h5ghly liquid knVe51￿￿￿ts *ith & SI￿ m*wity of thrtt month or less frMI the d*e ofacquisiti(XL or O￿ning of thc or 5imtlaf a¢¢ouM. P•¥e 43 The HO￿ Trnsl livl¢J to Ih¢ Finxn¢ial fita¢i'm¢Dt4 for the l'ear Ended 31 Nlarch 202$ (¢onIinu￿) Tnd¢ rr¢dlior5 CrLxli141n dnd woi'isi0ts5 Wt r¢¢0grni￿ wtK¥t ¢lwiry I￿ oblwn roukin8 from • payl eve1* thill prDbDbly re5uli in tlK ir*Tr5ftr i)f C¥nds to * ihird pan) a￿$ ￿ affjO￿ 5¢tt1¢ th¢ obligaixxb ¢ iy ur ¢simNcd Cr¢4Jits¥5 prowl51￿kn •rr their ¥￿leM¢￿ *ir•rtur¢ •%uilubl¢ io adiviiiej ihw ￿rth¢r of pwp05e5 of d4niy L',nr¢¥tr￿eO I￿￿)Me fiwds ar¢ *vaitsbk the trustrts di¥Y¢5 w) 41ffu. SiThct ihe AU1￿r￿tiC Fnrolmeffl ￿¥ing dale of ly Jun¢ *016, all liaff hllve been enrolled ID d¥ritys AE p¢nIk￿ ￿kne￿¢. AITryvJ cMiikn*ni% ai ihai d8* w*f¢ TAid tNtr Ll* AF. %lmne. Flpathrl•l In51niAi¢#t% ¢huity onty f￿1￿¢￿1 4sstts •tsd liabili1￿5 of a kind q￿lIfy *5 bui¢ fin•n¢l•l •Wn￿rIen￿. IW*Tr¢ finMn¢ial instrnmemj iw1Tr41ty r￿08n￿Kd It value l￿d S￿￿￿n11Y meLsurt4J ￿ th¢ii 5dtlmrn¢ TrBlu¢ wilh th¢ of IyHnk w.hich ore Sub¥L￿tIl al inK)rtis¢d ¢051 th¢ The Boai Trulf olej lo th¢ FinanciAI Statemeots for ¢be l'ear F.￿d￿ .11 M•rrh 202S1conilnued) 2 ImeoDt (rom doDatknnJ and leR*c Ilnrf¥irlrtrd f¥nd5 Citntr*l Rr¥lrirltd Totsl 2•25 I￿￿10n5 wxl lrya¢i¢ ¢hurrhr Don￿￿ iNllvldual% Iplrt •id recluin*d Granis, W1￿J1n$ ¢apitsI JJ.411 163,503 21561 450 19219 53.161 112.72? 22.168 15.0(M) 69.770 •51.059 j39.￿9 15.0 309252 274,7•1 Sg1.¥W) UTrrvbirkied rundj (teoerll Re￿Ilded Tolthl and k8ac6cs: tkwli(xvs from Lyg￿l￿1￿ & chwcl frwn ￿dIV1th￿l5 31.954 1•8.944 1.979 240 S.￿2 32,194 137.SA6 1.979 940 Le84cie5 Sportsot5hkP itl aid rryknimcd 17.139 17.159 iTh&,oJo 169.??6 289.( 178.0 467.074 J Iwom¢ Iroo eh*rltsbk ￿lIv1t￿tI UnrHlriri rumd R￿rICted r¥ndi Tol•l Rem * IIousin8 bent (ityii in¢Thn¢ r¢¢eived for ¢haritsbk a¢uviii 161.665 167.Q?8 167.028 Pw45 The BoAz Trusl Note% lo Ihe Tr Sn*nel*l .¥ii•l¢m¢ol% for Ibe It*r Lnded 31 IIAr¢h 211ZS (¢onlinued Unreslriei R¢slrki¢d Tolal 211•4 C•tner*l Rew & I1￿511¥ benefi¢ Clrnirf feccii'¢d Cor L4b*rithbk xtiwil 1 $4.953 154.953 53.B17 1.51KI 1.550 53.117 1.550 211.820 Uthrotra¢fed rts￿ds Tol*l Tol*l 2924 Intere￿ receiv￿1¢ sNnil•r I￿Orne. lrt¢rni re¢¢[￿bI¢ b•nk dtWbi15 6,031 6.QJ I 6.fy)1 S Eiptwdl1u￿ riising U#rulrkl¢d Re￿rIcted fu*ds Totsl Toi¥l 2U24 Fthiseys wl¥y 28.776 28.776 45.024 (Ahe¥ osts 9Jl 2(Kl 3.306 38.OB2 2fA 38282 411.$30 The BO￿ Trnil Lyotes lo the FiD*D¢iAI 5t•¢em¢nly for the I'¢4r LDd¢d 31 March 202$ (¢onlinued) 6 oh eharltablt *rth.btk* Ilnrrsirkted Ro51rleicd f¥idJ TolAI (Fro¢nl Offir¢ & 13.791 53.799 41,131 101.741 F.n8ag¢m¢ni & bliciiy ￿¢￿11(1￿ry 94V 3.851 254.897 87.B95 167.IXI2 •xl*r 5unil4r costs Gram fimding of adivi11¢5 or 20,IX 204.507 S.£lJ2 20.IKKI 454.IN 749.537 11.791 374.933 44#.478 847202 1'or￿1r1¢1e11 luid* Cv¢rnrThl R￿trIe1¢￿ Tot*1 2024 oiritt & 5.623 27.971 Jl.910 65.517 blicll) Benef￿lary supp 4J24 175210 7fA) 71981 5.024 148.261 (thcT 3imilw cos15 Suff coAs 4.395 ?91.819 6.199 91631 395.843 10.618 512.¢A¥) 721.446 Pa8t47 Th¢ Ilo*i Trnjl Notes to th¢ Financixl StatemeD¢s for the I'egr Ended .11 .%larch 202£ (fonlinued) UnrtJirl¢ted T•l•l 2925 Tol•l 2024 Lmmirtation of thr finarKial Othcr feu paid io fl•m￿l Tru￿¢¢ Indannmy Insur￿¢ Prof¢55itywI 5ubsfflp4i0rnS 14 1.546 116 lJ40 116 5.1x12 5.00? 6,1911 8 fir*Iit-m*￿1ft% An•lyth of ira•l* Anal¥sls Gft*r M*ncheMu Immigraiion Aid Unfl 1lntfl￿rtin8 smircs) Th¢ 3YPPQrt ¢0*5 ¥iEh 8fwvmakin8 Ut LNil 131 20•4. £Nil). 20.IMI 9 Nrt rtsourt¢J inc4Msm&'(WM¥I I¢WUf¥¢S lur the yw 2•25 2•24 No INsievJ. nor ￿Tron5 wrm¢ded wrfh thon. from th¢ thwlrbs the No n%cT¥￿ r¢MtKwsed ex￿￿$¢5 I￿. th b¢n¢frts from ¢hwity ¢knifi8 the yw. P4¢ 41 Tht Bov. Trn*¢ oles lo tht FinAntig1 fi*lMlI"mtnt* for iht I"eAr F.nded .11 %l#r¢h 202$1continued 11 Si•ff J¥yew¢ p*yvll ¢oJts as 202.1 2024 Si•(fcoth d•rlnR ihe ytAr *eYv. 42.S.145 33.2•7 311,407 ?1.413 ?4.1147 St￿1￿1 ￿urity. ¢osrs 4112.S30 440.IWP The Nwihty a*er4¢ 1&b¢l￿din$ I le•dEnhip **m) enyl¢4¢d by the iry thwtng the )tw ¢xp¢kscd as fvll Cqui￿knLs folltms: 2024 lio All ¢nyktr> 17 16 17 <20?4- 16) of •h¢trv¢ empw wkipi¢d In the D¢fin¢d P¢Asion SdKmes. C￿trILYjl1￿$ lo the rylvy¢¢ sdbern￿ tht ye4r ￿tIlled £24.50812024- Q4.0471. ll¥8 )w. tht N4de rnluTth¢y ll￿,0r l¢miir4titm Mthlrh ￿￿led £Nil12024. £3,4ty)I. 12 l*dtptndefjl t¥**ltsv'$ r¢m¥*¢r•ib) 2(124 PItpw￿I￿ of sw¢fft¢Nts P•¥e 49 Tbc Ilual Trusl liotrs ¢0 the Fin#nci*l .t4141i'mcnL% for ihi. l'ear F.n4led J l Mgreh 2025 (conlinued 'th¢ is A r¢gisler¢d ¢lwbty •MI is th¢refwt ex• fr(kn ￿X*i￿n. 14 T•ngibk fFwI •wlJ I￿￿1 A•d I￿lIdIn Totsl C05t Al l April •024 Ai 31 M￿h ?025 70.1 70.0(KI 70.IXM) 70.iMKI Dtprt¢i*tlo At l April ?0?4 Ai 31 Mar¢h ?023 Nei book v•l•¢ Ai 31 NtILnh 2025 66.400 Ai 31 1024 67,000 67,(MY) 141 D¢bitsrs 2•25 2024 ?8.074 20.746 39.730 18,457 A¢rnKd 30.944 Llil.55 49.401 16 Current awl 1•24 C&sh 91.19? 7S.9R 17 C*** And equh*lt•lS 2•25 2024 Cash on 6,76$ ?65.41 91.6WI 2,115 901,67J 88.7W 363.W 293,287 Thc Bou Tru*t otes ¢0 tb¢ Financial Stalcmenti for thr I'car F.Dded .11 Mar¢h 202$ qciiDllnued} 18 Crtdii•rs.' falli*1 due wiihin oAt ).￿r 24 ardim 14.492 4.401 I6.1￿0 A¢4n•h ILI.J14 14.44? P48t51 Tht Bov TnL*I Niitej to the Financial l¥ixl¢'m¢nts for tbt l'ear F.oded .11 hlarch 202$ {wn¢inueql) 19 Fu•ds Baknnttitjl l*r¢b 21124 April •Q24 74.337 471.171 13.olj 132.5IKI Risk LonimguKy Fund Ac¢om CapoG#) R¢s¢r¥¢ MOTr Fund Li¥ed Exp l)¢si8nawd 198.C $0.000 67.C 198.llx 362 67.(IX 15.1 113.7911 1 S.(Kh) 15,( 13,791) 316.20 Tol*l #nrostrltfed 389.337 4!6.lOb") 448.?lY) Ruirlcitd F¥nd5 lJ70 3J77 12.¥131 11341 15,3(H 1114 354 Lice CThi¢f Lxefjrfi￿ MI Slep CIMI Traiisixyl Lnwg¢n¢y 5J( 5.561 $79 275 1348 1244 3,￿3 10.682 123 6,.$61 12,419 1333 11.5 2J17 (.$48 81.IHJ 23.OJ8 178.1611 Iii,¥)i) 2.475 i•J 37,137 25.1)fy) 25.530 12.321 113.437 1562961 {13.￿1) {1?.6611 {71.fAII 16161 major wo￿$ ()ITK¢ * Adminiumb R¢f IIPP 615 224$ Jsi 33J25 Volwi¢¢r ¢xps Llf¢ 11 (3111 106,375 74.931 20.983 NLCF Lwol Tothl R¢Jirkitd futhd 84.810 17.526 458,671 73,688 Totsl lund$ 474.1 T7 8&5.414 522.397 P•8t 52 The Ilo*i Trujl Nole8 lo the F'iD•n¢ial Siatem¢nti for th¢ I'¢Ar Fnded 31 Ilarch 2024 I￿nI1￿￿ed) B*l*#¢t *1 JI Matth 21J24 In¢oml rfso¥Trts Cxprnded April 202J Trwujffn VBr¢*irlrfed funds 77.610 451.510 561.130 IIX+.275 74J3J Kisk c"L*Jiin¥fflK)' Fw Il¥d8¢1 dl'ficil A¢¢*)m C*pxily R¢5¢The Re£owu> I I i.c 191.IIKI 1116.0(K¢ 50.(IMb 41.661 5.025 67,0(NJ (4.39)) 137273) 12) l T tkv¢kyD￿ Fwd Morn FWKI 67.lYYI 411,1193 (lQ.618 106 175 315.1 To¢•1 •ArnAtrkted f¥nd* $09J73 451..510 571.7481 389.3JS Rairkted F•nds Eswii115 2.970 I, J?0 611 ljov l.ife 12,3$6 110.270 (1167 (1.9.1? 102x1 Strp Cli¢nl Tnn5PQrt 2.167 rL3 2Jl? 1244 1.244 Flo￿]￿8 SwN¥i 13.117 16.619 133.%171 (14.1441 2.475 FuTrJr•iw MIWJ. llo¥lith8 IlouJ¢ Thnnkng eo%ts Ollitt & Adminislnlion S￿￿r¥i$ll Ref IIPP Tr4nskniK volunt￿ exps Boal ijfe W¢bsit¢ ¢)60 1•3 11.316 15,110 q79 1.109 4,031 2.3 1.076 {44.1591 118.021) ($791 (1.109) (3.413) 1134) (695) 37.157 ?,881 616 1245 311 35J25 NL(F' C￿4>1 49.684 233.385 1198.228 .841 559257 684.895 1769.976 A74.176 Py53 The BOAI Trnsl ]%iiles to the TrlnAnflAI *ii*¢emeAly for Ihe I,￿r Ended JI M*reh 2025 (¢ODtiDud) The spe¢ifk p*k*¢s tor wthich the are be •ppl*d ￿ 05 follows: R￿1￿1¢I¢d Fi•J P￿r￿(￿e BtnefKiary e55¢nls•ls ljw Life To d¢fr•y wsts of10SktrKs •wJ ¢1¢4nllw ¢ll¢ws To cla&%ts aAI ￿1￿11¢$ for clitnL* Ctrtbtf F.xtcutive saknry Supy)rf Cl•cni For pwt ofCIO salu> For Kffjmeni ofc*se ￿lary aThJ To mrrt cliu*5 travcl c0515 For thp pmvi5kn vf wimer 4ThYg¢w cr *k￿1n¥ SUp￿rt seThi¢¢5 W YJPSWrt ille &llvMy of Il* A IS F.kn. Nishi f*owm Fw [m￿lOn of f￿1 cli¢n Fty of fwwJrniJ¢r arnl ¢¥*09 FvndThls¢r Jalw. Hosiin8 F(Y pa)'mcnt of ￿1¥y, onc05ts lThi To Fxo¥•dt ffl•inMin h[￿ To dcfrny ¢(Mts *iril￿￿bIt office *lrninistrnii To drfr•y r051s thiining of¢45¢ For of ￿U9¢ mwr s&1￿. oncoJts To defra> costs of inieryyetcrs for cli¢nLS *r¥J irDTrsla To defr*) ¢QAts iv vfira*l ts) B(w Lift ¥iiviii For CLW ofvJtb551¢ costs Offlce *MI th¥hiMMi( &yrwi5M 11(MLse salwy Vvlun*er ¢xp#vs Boaz Li(¢ Web4ite M¢th(xli To provith lyowini •nd 54Ix￿ for a l¢•M Y) laikd ¥)Iwn NLCF CL￿1 To fund 2 or mor¢ workcr% Jnd ihr L)ffrt*4d ¢thJi$ ofK*oviding hwsiw wpp)n firf r¢fv8ees Dt¥l%Mied Fu•d P¥rpost Risk Contwyncy FWMI defKil Futsd Ac¢omryl*I￿ Cwity, Rt5¢Tht To Cund d¢velromeM ofour h￿tsing <¥F4CIty R¢wvm & l)v4rlppm¢ni R¢sv%* Fundtng eamww b) the f(Y JlTllW kn111￿1Ve% IT Dtvtkl>ft￿ FEM To ryovidc for fifft1￿ IT inbr5trn￿I A desi8nakd fuMI ¢0 rin¥f¢llr¢ the conl1￿￿d use o(d* ryopenv 41 I l Mora Strf. To ￿¥0¢ 4 ¢orfuweK)' kr fisL. Spe¢4tk￿1) ih¢ risk of c105we Mw•Trw Pw34 The Ilo*i TruJ¢ Yole* eo Ihe Financial StAttm¢nts for iht Ye4r F,nd¢d.11 M#r¢h 2014 (Continud) 10 Rr*rvt5 Polki T￿$￿¢5 re¢wi5¢ their th￿). io manage th re5owru of The BO￿ respmibb. This nsLtrin¥ ilw the fiTr4nc¢s Jr¢ maw¢d in ¥MI iimely. *?). in l¢nt *lih ihe thjef fwmh in cy¢kr lu eiiwrr Ilb¢ vr¥iYliSdlKMI (im ¢ffllinw 4Th1 Main￿1￿ Ow1￿ fin￿ellI cunmbtnxnts. This Re¥r￿ Polio tlvekn ts) 411 thw 'the is thiefiiMy*l how fvnd5 w¢ m4nty￿. and il Jpe¢ifiLally Jd3 wh) un¥nii being held. Th¢ Res￿ Policy skn45 lknw iht orB•nts*i()n t5 tskin8 IMO ri￿ *1 resi1￿r￿ 10 cnsw¢ ihw the 1$ l￿ble C￿blimI¢. ((Y ex￿P￿ if ih¢T¢ • thyAn¢urn in incoffie l¢.y. due io u expeth¢d gram 1101 for s¢Th'icuK (ff *n?" ￿h¢T swiifK4M Ind unfortsecn ev . rix¢d (¢.g. kwihjiny (Y14Th11 • th (ksiwtsj *thi¢h be¢D rh¥.fen¢*l by the * y¢ific r(Y Gcnernl ReseTrts *lll be thc okuknt¢d for Risk CoMin8¢W. The Tnmw wilh It&1 TesFKMslbilty fly frwn¢¢ th¢ Grwp will ryorM)5¢ 4 G¢rv•l Rescyvcs Tuget the ¥f&T as tht Pl￿1￿ pnKtss and this will be li 15 n(rt p)ssibk iv plw Cor mry ¢vrrfuNlity' th¢r¢[0￿ Tn￿¢t5 inlo l&¢lih(KMI of diffcr¢Trt lWCLm￿ arml jewel$ of rith and thelr wssible w. ¢￿ttIn8 Lside r¢gmes f(* all tills wwld ¢xcrnsiY¢. so th¢ Risk LonlingvK)' w'ill robrr th¢ cak¥labl¢ risL Thi5 rnoy risk wouhj mw¢ri¥lise if lh¢ urwisJliiin Le&Yd io Icosts wwkl include". rtyJurthM'I¢¥". 5UPtx)n r¢laied 0￿r th¢ pcriod of ¢knw¢' the rrlurn of hows 10 th¢w OWDets.' witlthwins froni bliyioNI. The Risk LontkigeTrc) Fwwj will ebrm b¢ • minin￿￿ of 3 of Iwd ffl d exFthdliur• for tk ye¥. For ¢he ymr 1112&2S ihe 6￿¢1*1 T*ryel is cak¥1*1￿ As this ij J TroAths ol PB8e 55 The Boaz Trnst o(rJ to Ihe TrinAnciAI *it*lemenls for Ihe Ytar F.nded 31 Mirch 2024 (¢ontinudl The Ci¢nrrnl FLM%I rewesriils ihe balance Itthiiivc or rwivel of ￿nrestrided after d¢s1￿￿ed fi￿￿$. Including th¢ Risk l'uniirtb￿ I.￿￿ been 1*10 ac¢ouni. C"4mweMl>'. any atsNWllt ui Crtn¢tal Fu￿1 re9¢rbts wthich art ovu {wth) iary The level of res¢Th*s *ill b¢ t1¥ots￿ ￿K￿lhI) quarterly f￿￿191 rewt#¥ mtdunisms. Tht lebrl vf will b¢ wilh th¢ l¢%cl ￿t￿r¢ theyr is a dlfftt4￿¢¢. will t¢ ¥i*en sn ienm of ￿lorL4 srt tsk¢n to brin¥ thc r¢xr*t5 ints> li￿ *ith the tsr Th¢ Rith C.ortln8ew is reviet*¢d a¢ hllf >t*r thl )tar ¢fyJ. AkAw•d¢ the ¢wiiiorin8 of R¢%eThrs •8ain4 iaryL TnN¢¢5 *ill infnrni*ioD r¢I￿tnI to l)tsiyAied Funds. includuw the likely iiffling o(ex￿￿1b1ur< ITr io they art bcN¥ used in ￿1th th¢ir pww5. 11 An*l)"sl• of #tl *Mrti bel*et• f¥Ads Ufjr¢rfrkn¢d fllTrd* GtAeral Rf5tfict JI M*r¢ TahBlbl¢ llie41 Is CLtrr¢ni Curnrni lithi1￿￿9 66.4(Kl 49.809 66.4 544.311 (81J14} 2!0,114 8&.31d 73,681 132.5(Kb 316209 Y3.6 Tot*1 *1 31 M*re 2024 U•rrslrlrt¢d fthndi en¢r¥l Dtsigniitd Rtsirbti fi•ds fixed 67.0ty) 748.000 67,IKMI 421.ffi8 124.152 14.497 49.316 liabiliii T￿81 ass¢ts 109.8fil 49.316 474.176 P48e 36