Charity registration number 1110645
Company reglstratlon number 5328976 (England and Walesl
SAFE HAVEN LONDON
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

SAFE HAVEN LONDON
LEGAL AND ADMINISTRATIVE INFORMATION
Trusto0s
Mr E J Chesterrnan
Mr J Kerr
Mr M C Patton
Mr 8 J Wwdland
Charlty numb•r
1110645
Company numb8r
5328976
Registered office
Thorncroft Manor
Leatherhead
Surrey
KT22 8JB
Audllor
Gravita Audit11 Limited
Ald9819 Tower
2 Lèman Slregt
London
E18FA
Banker¥
Lloyds Bank Pl¢
25 Gresham Stréet
London
EC2V 7HN
InvoStmon1 a(fvl$ors
Barclays Bank PIC
1 Chuichill Place
London
E14 SHP

SAFE HAVEN LONDON
CONTENTS
Page
Trustees. Ipport
Statemènt of Trust8gs' r85ponslbllllles
Indèpandent 8udllor's report
Statement ol financial activities
Ba18nce sheol
1Q
Ststemenl of cash flows
Not8s lo thè financial stat•m8nls
12-23

SAFE HAVEN LONDON
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 JANUARY 2024
Th8 Trust8es who ar8 also dir8Ctors of th8 charitabl8 Cotnpany lor lh8 purposes of the Cornpani8s Act have p1835ur8 in
subrnittin9 their report and the fin￿Cl915talernent5 of the charitable comp8ny for the year ended 31 January 2024.
The financial statements have been prepared in accordance with the accounting policies set out in Note 1 lo Ihfj accounts
and comply with the Charity's goveming document, the Companies Act 2006 and 'Accounling and Reporting by Charities..
Statement of Recommended Practice applicable lo charities pre￿rIng their accounts in accord8n¢e with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 las amended for accoun1ing periods
commencing from 1 January 20191.
R•f¥rgn¢o and admlnl$lratlvg dotall$
Safts Haven London 18 a company limitèd by guarantee, in¢orporal&d on 11 January 2005, governad by ils Memorandum
and Articles ol Association and wilh the Company number 5328976. 11 Is a charity regis18red with the Charities
Commission on 29 July 2005, with the Charity number 1110645. The Charity's registered address Is..
Thorncroft Nlanor
Thorncroft Drive
Lèatherhèad
Surrey
KT22 8JB
The Trustees, who ore 0150 directors lor the purpose ol compony law, and who served during Ihe yeor were,.
E J Che5temian
J Korr
M C Patton
S J Woodland
T&H Secre18rial Servic85 Limi18d 8erves as the company'8 secr81ary.
Objectives and activities
Safe Hav6n London w38 formed lor the purpos6 of provldlng housing lo loc81 govarnrnenl btsdS88 for peoplo roqulring
assistance lo find accommodaliun.
In 2005 the ¢hadlabl8 Company 8rnlèr8d Into agr8em8nl$ wllh thé London Borough of Ealing lo acquirè prop8rtiès surt8bl
for their social huusing requirements.
In 2016 th& ch8rilable company entered into agr6ement8 to st8ri to re81i$8 ils intention lo move tha purchased sloek from
temporary lo perrn2nenl social holising Additional fiinds raised hy th8 Charity were used to r8lLirbish th8 stock ol
proptsrtios to Decènt Homès Sland8rd and extend Its leasehold Intè￿51$ in thesè prop@￿"e$ to se¢ure their availabllity lor
the Charity's objeelives for thè long tttrm. The Charity subsequenlly ¢ornpl818d the dispc)sal ol the porffolio ef acquired
properties.
Achievements and perforrnance
Th¢ Charity is r¢invosling its funds in a brood ronoo of oss¢ts in ord¢r to ¢xpond its op¢rotions ond r¢d¢ploy r¢sour¢cs trj
provide relief lo a greater number of homeless families Return8 from inV8S1rn8nts support a focused grant programrve to
beneficiarie5 and social housing projects in partnership with charitable organisations.
Th8 Tru5188s hav8 paid dug reggrd to guidance issued by the Chwity Comtnis5ion In dgciding whal artivib'es Ihe Charity
should undertake.

SAFE HAVEN LONDON
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
Flnanclal revlew
The ch8ritable con)pany currtsnlly h8s a nel surplus ol funds of £1,336.16212023. d&ficil £556,978). Th8 n618ssets of the
charity tolalL8d £27,72@,381 12023.. £26,303.2181.
It is the policy of the Charity thai unrestricted liquid fu￿$ which have nol be8n designated loi a specific use ghould be
maintained al a level equivalent to between Ihree- and six- month s expenditure. The Trustees consider Ihal reserves at
Ihis level will ensure tfr81, in the event of a $ignifi¢anl drop in funding, they will be able lo continue the Charity's Current
aclivities while consideration is given lo ways in which additional funds may be raised. This lev81 ol reserves has been
maintained throughout the year.
Post balon¢¢ $h••t •v•nts
Tha Charity continugs lo invast its funds in furtherance ol Ihg objgcls in its Con5tilulion. To this end, tha Charity is working
with housing partners lo supptsrt homeless housing proi8cts. Fur1her investments in property assets have been madè,
charllable housing projec15 undertaken and grants awarded.
Slruclure, govemance and rnanagemenl
Th8 Struatur8 of the Ctrkgrity. its Charity and Cotnpany numbers, its ?rinGipal advisors an(J tho names of ils triJ5tges are set
out in the Legal, Referen￿ and Adminislralive se¢tion5 01 this Annual RepLYt ond Financial Stalemenls. Details of the
sl¥ff grnployed in lurtherancg of objects ol the Ch¥rily are provided in Ihe Notes lo Finanoal Slalerllgnlg.
A Trustees, appointment may cease aulomBtically upon the happening of certain events as set out in the Articles. The
Iiu$lo08 aro enlilled lo appoint and removo further Iruglees bi unanimous rewlulign, Evbry Iruslee must sigii a
eclaralion of willingness lo act as a trustee ol the charrtable company before he or she is eligible lo vole al any meeting
ol the Trustees. Trustees are nol obliged lo retire by rotation. None ol the Irusl¢es has any b¢nefi¢io1 intprest in the
¢h8rilablg cotnpany.
E J Chestermon ond J Kerr ore property consultants. M C Pallon has o track record ol experienco in ¢gmmer¢ial
enterprises S J Woodland ha$ a ttsck rgcord of experience in public benefit entilig$, The Trustees Ihgrg1ts1g havg Ihg
appropriate skills and knowledge required lor the role as a trustee.
Thgre is no formal policy in placg bul Ihg Truslge8 Intend Ihal any future appoinlrvent5 bg of 5uilable expgrience.
The mgmber$ of th& charlloblg compeny guaranlg9 lo conlrlbulg £1 In th9 frV9nl ol a wSnding up.
Funds held a5 Custodlan trustee
Nolmer th8 Charfty, or ts trustè8s, act as cuslodlans of fijnds on b8half ol oth8rs.
Auditor
In accordance with the companls artides, a resOlU￿'0n proposing that Gravita Audit11 Limited be reappointed as auditor of
the company will be pul at a General Meeting.
Dlsclosure o15nfomiatSon lo aud5tor
Each ol the directors has confirmed that there is no inloim8tion ol which they arè aware which is relevant lo Ihe audit, bul
ol which the auditor is unaware. They have further confirmed trat they have taken appropriate st&ps lo identify such
relevant infomiation and to establish Ihat Ihe auditors ere aware ol such information.
Exomptlons from dS$¢losur•
The Charity dogs not have, nor has requeyled, any 8xernplions frorn disclosure Irotn the Ch8rtty Commission.
The Trustg9S' Teport was approvgd by tho Board of Trusie89.

SAFE HAVEN LONDON
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
Mr M C Palton
Dated,. 7 June 2024

SAFE HAVEN LONDON
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 JANUARY 2024
Th8 Truste8s, who are a150 the dir8Ctor5 01 Safe Haven London for the purpose of cotnpany law, ar8 r8SPOll5ible for
preparing the Trustees, Report and the financial slatern￿t5 in accordanTr with applirable18W and Unrted Kingdom
Accounting Standards junited Kingdom Génerally Atcepted Accounting Practi¢o1.
Company Law requires the TrusteÈs to prepare finan¢ial statements for each financial year which give a truÈ and fair view ol
thè slatè of affairs ol tha Charily and ol tha incoming rgsources and applicats'on of rèsources. induding thè incorna and
expenditure, of the charitable company for that year.
In pipparing these financial statetn8nts, the Tiustges ar8 r8quir8d lo..
select suitable accounkn'ng pc)licies and Ihen apply them consistently..
observ& th8 m8thods and princlplès In th• Charltlès SORP",
maké iudgarnants and astimal8s that aro r&asonabl8 and prud•nl',
. slate whether applicabl8 UK Accounting Slandards hav8 b88n follow8d. subject lo any rnal8rfal departur88 dlsclos8d and
explain8d in the financial staiemants-, and
preparo th8 Ilnanclal slat8m8nts on the going conc8rn basls unles8 St Is inapproprlal8 to pr88um8 Ihat the Charfty wlll
conllnua in oper441ion.
Th6 Trustees ara responsib18 lor k8eplng adequate aceounting rèeerds that di8c1086 with rèasonablè aecuraey £t any lim8
the financial posits'on of the Charily and enable hern to ensur& that the financial slat8ments Comply ￿lIh the Cornpanles Act
2006. They are also responsible for safeguarding the assets of the Charity and hence for laking re850n8ble step5 lor the
pr8vents.on and d•t8ction of fraud and othér Srregularlti88.

SAFE HAVEN LONDON
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SAFE HAVEN LONDON
Oplnlon
Wts h8V& 8udited the finan¢ial stslamènls ol Sala Haven London It￿.CharItY.l lor the year endgd 31 January 2024 which
compri88 th8 Stat8menl of financisl activi1188, th8 balance sheet, th8 Stat&m8nt of cash flows and not•s to the financial
slatements, induding significanl a¢¢ounling policies. The financial reporting framework th81 has been applied In their
prgpar81ion is applicabb18w and Uniled Kingdom Accounting Siandardg. including Financial Reporting Slandaid 102 The
Financial Reporting Standard applicable in tha UK and Republic of Ireland (United Kingdom Generally Accepted Accounting
Pradi¢el.
In our opinion, the financial staternenls..
give a true and lair view ol the slate ol the charitable company's affairs as at 31 January 2024 and ol its It￿OMing
r¢sour¢8s and application ol resour¢e$, including rts income and expènditure, for the year then endéd,.
havé b88n property prèpar8d In accordanc8 wlth Unit8d Klngdom G8n8rally Acc8ptèd Accountlng Practlce.. and
have been prepared in acc(rdance wrth the requirements of the co￿paNieS Act 2006.
Basi8 for opinion
We conducted our audrt in accordan￿ wilh International Standards on Auditing IUKI IISAS IUKII and applicable law. Our
r&8ponsibili1168 undor those Standards arts lurthar d8s¢rib$d in the Aiidilors 1&8ponsibilili&s forth& audil of the fin&n¢i&l
stal&ments section ol our report. We are independent of the Cliarity in accordance with the ethical requirements that are
relevant to our gudit of Ihe lin8nc481 Slgtempnls in the UK, including the FRC'S Ethic81 Slandaid. and we have ILJllilled our
other elhi¢al responsibilities in accordancg wilh these rgquiremenls. We bgli$ve that the audit eviden¢s wg hgve obtained 1$
sufficient arKI appropriate io provide a basi5 lor our opinion.
Conclusions Telating to going roncern
In audlllng th8 Ilnanelal slatam8nt$, we have eon¢luded that thè Trusl6è8' usè of the golng wncern b8$18 of accounllng In the
preparation ol Ihe linawial slal8m8nls is appropriate.
Basèd on Ilw work n8va p8rforn￿. w4 h8vè not Idèntlflèd any m8lèrlal uncèrt8lntl8a rèlatlnu to èV8nls or eondltlong that,
individually or collec￿'Vely. may cast significant doubl on the Charity s ability to continue as a going concern for a period of at
108sI Iwelve months Ircm wh8n thè finan¢ial $tatementS 8ro 8ulherlsed lor Issua.
Our responsibilities and the responsibililiÈs ol the Truste8s with respect lo going concern ar8 described in the relevant
se¢lions DI this report.
Othgr Infomiatlon
Th8 other information comprls8s thè Infom)ation Includ8d in the annual rèport other than th8 financlal stal8m8nts and our
auditor's report Ihereon. The Trustee5 ere responsible fc￿ the other Inforrnation Contained within the 8nnual report. Our
opinion on the linanaal slatsm8nts does not cover the olher infomiation and. except to th6 extsnt otherwisa explicitly stat8¢
in our report, we do n()1 express any form ol a58ur#nce con¢lusion th#rtron. Our re5pDnslbllily Is to r*ad the other Infomatior)
and. in doing so, consider whether the other infnrmation is rn?lerially inconsistent with the financial staternents or our
knowl4dg• oblain$d in thè cours8 ol th$ audit, or olh•rwis• appears lo ba matarially misstAlgd. 11 w8 Idantify such mat8rfal
Inconsistencies or apparent malerial rni5Statements, we are required to deter￿ine whether thi5 gives rise to a tnaterial
misstatement in the fin8nGial stalemenls themselves. If, based on tre work we have perforrned, we conclude that there is
mat¥rial misstatttm¥nt of this othèr information, w¥ are rèquirdd to raport thal fact.
We have nothing to report in this regard.
Oplnlons on other mattgrs proscrSbed by tho Companl8s Act 2006
Iii our opinion, based on the work underiaken in the course of oui audit..
th8 Inlomalon ￿Ven In the Trust￿$, raport for th8 flnancl81 year for whl¢h Ihe fIna￿al $181gm&nl8 are prepa￿d, whl¢h
indudes the directors, report prepared for the purpK)ses ol company law, is consistent wlh the linanoal stslemenls.,
Iha dirèctors, rèport includad within the Trustèès, rèport has ￿&n prèparad in accordancè with applicablè lagal
requirements.

SAFE HAVEN LONDON
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF SAFE HAVEN LONDON
Matters on whlch we are requSred to report by excepllon
In ihe light ol tha knowbdge and understanding ol tho Charity and ils tsnvir0nn￿nt obtain6d in tha courso of th6 audit, we
hav8 not idenlffi8d mat8rial misstal8m8nts in the diractor8' r8POrt included within th8 Trust88s' report.
We have nothing to report in respect of thè Idlowlng mattèrs in r8lalSon to which tha Companlgs Act 2006 rgquir•s us to
r8port lo you rf, in our opinion..
adaquat& accounling records hava not baen k8pt, or rgturns adequate lor our audll have nol bg8n recèived from
branches nol visit8d by u5.. or
Ihe linanaal s18lemenls are not in agreement with the a¢counling records and returns., or
¢ert8in dlsclosures of trusiees. rtsmuneiallon specffied by law ara not made., or
we have not received all the information and explanations we require forour audit., or
the Trus1ees were not enliued lo prepare the financial statements in accordance with the small companies regime and
lakp. 2dv2ntxop. nl thp smxll r.nmDAnip.s' pxp.mptinn8 in prp.p2ring thp. Triiilpps, rp.pnrt and fmm Ihp rpqijirpmp.nt t
prapare a slraleglc raport.
Re$ponslbllltlos of TNSt•o8
As expl¥in¢d morg fully in thg slatemgnl of Trusl¢&s' rgsponsibilili$s, Ihg Tru$lee$, who arg also the dir$¢lors ol tho Chorily
ft)r the purp059 of cornpany law, are responsible for the prgparalion of the financial 3tg1grnenls and lor beinq 5a115fied that
Ihey give a true and fair view, and for su¢h inlernal conlrgl as the TNsl¢es determine is ne¢¢ssary lo enable the preparation
ol financial staietngnl$ that arg Irge Irorn rllaleri¥l rni$stalgmgnl, wh?Iher due lo fraud or error, In prgpaiing Ihg financial
stalernents, the Trustees are responsible for assessing the Charity s ability lo continue a5 a going concern. disclosing. as
gpplicable, matters related lo going concern and using the going concern basis ol accounling unless the Trustees either
inlFnd lo liquidalg the charilablg cornpony or lo ¢gase op9r8lions. or hav¥ no r$alislic allginativg bul lo do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are lo obtain reasonable assurance about whether the ffi'nancial statements as a whole are free from material
missl¢lemenl, whelh¢r due lo fraud or error, and lo issue an ou¢Jilorfs report that includes our opinion. Reasonable assuranwe
is a high levgl ol QBBurance bul is not a guarantee Ih3t L4udil wnducted in L4ccordance with ISA5 IUKI will a￿ayS detect
material misslatemenl when il exists. Misstatements can arise trom fraud or error and are considered material il. individually
or In the aggrogale, they could r9880nably be expected to Influgnce th& economlc de¢l8lon$ of usgrs18kan on the basls ol
these financial slalemenls.
The extent to which our procedures are capable ol detecting irregulgrities, in¢ludin9 fraud, is detoiled below.

SAFE HAVEN LONDON
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF SAFE HAVEN LONDON
We 8nsured that the engag8rnenl leatn co118clivety had the appropriate compel8nc8, capabilities and skills to idenlfy or
recognise non-wrnplianoe wilh applicable laws and regulations. The laws and regu181ions applicable ID the company were
identified through discussions with dir8Ctors £nd othèr management, and from Dur comm¥cial knowlèdge and èxperience of
Safe Haven London. 01 thes8 laws and r8gulations. focused on those that W8 consid8red rnay have a direct nat8rial
effȢt on the financial statement5 or the operations of the Company, including the Chartyes Act, Companies Act 2006,
Coronavirus Act 2020, data prolgction, anli-bribgry, èmploymant and environmaniallogislation. Thg extent ol complianca wth
these laws and regulatK)ns identilied above ￿aS a55es5ed through rnakin9 enquirie5 of management and inspeding legal
correspondence. The identified laws 8nd regulations were cornmunicgted within the audit learn regularfy and the team
r￿￿31￿8d algrt to instances ol non-ctsmpliance throughout th8 audit.
We assessed the susceptibility of the company'5 financi81 staternents to rnaterial mi5slatement, including obtaining an
undeistanding ol how fraud ITiiglil occur, by".
making enquiries of manag8ment as to whèrè they considèred thèrè was suscèptibility to Iraud, thèlr knowladga of
actual, suspected and alleged fraud.,
considering the Inlernal controls in plac& lo miligatè rlsk$ ol fraud and non.¢omplianca with laws and regulallons,. and
under5t3ndin9 the design of the company's remuneration pollclgs.
To address th8 rfsk of fraud through manag•m•nt blas and ov8rrid8 ol controls, w8..
perforyned analytical procedure5 to Identify any unusual or unexpected relatr'onshiF6',
t8sled loumal 8nlrlès to Id￿tIfy unusual transactions.
• as2>e55ed wl)tslhèr judgemerits and èssumpllons made In d818rmlning th8 accountlng 8sllmales sat oul In nol8 2 w8r8
Indicative of potential bi85,' and
inveskn'galod thé ralionalo b8hind sighllicanl or unusu*l Iransaclions,
In response lo the risk of irregularities and non-cornpliance with law5 and regula￿'0ns, we designed piocedures which
includ8d. but w8r8 not lirnllod to..
• agr88ln9 financk41 stat8menl dlsclosur8s to und•rfylng supportln9 docum8ntatlon',
reading the minutes of m•etings of those eh8rged with gov•rn8n¢e',
• enquiring ol manag8ment as lo actual and potential litigation and claims,. and
rèviewing correspondence with HMRC and the cotnpany's legal advisors.
Th8r& ar8 inherenl limllatr'ons In our audrt procedures d8scrlb8d above. Th8 mor8 r8rnOV8d that laws and regulats'ons are from
Iinanclal transactions, th# less lik*ly il is that w* would btrcomtr awarè ol non-eDmplianctr. ALJditinu standards also limlt thè
audit procedures required lo idontrfy non-compliancè with laws and reoulations lo enouity ol the dirèciors and other
managèment and thè Insp8ction ol regulatory and legal corrèspundonc#, if any. Mal8rial misstatem8nis that aris8 du8 10
fraud can bè harder lo detect than those that arise from error as they may involve deliberate concealment or collusion.
A furth8r descriplion ol our r85ponsibilities Is availabl8 on the Financial Reporting Council'5 websile 8t..
httpJ..IlWb￿.frG.org.Ukldudl10r￿resP0njIbIIitIes. This description forms parl of ow auditorfs ieport.
Use of our report
This report Ss made solaly to tha charltablè cornpany's n￿rnber$. as a body, In accordance wlth Chapt8r 3 of Part 16 of th8
Cotnpani85 Acl 2006. Our audit work has been und8rtaken 50 that we might state to the charrtabl8 company'5 ffl8rnb8r5
those rnatters we are required to St8te to Ihen in an audilorfs report and for no other purpose. To the fulle31 extent permitted
by law, w8 do not accapt or assurne r8sponsltrilllty to ansrsna oth8r than the chsrltablè cornpany and tha charhablè company's
members as a body. for our audit work. for this report. or lor th8 opinions we have formed.

SAFE HAVEN LONDON
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF SAFE HAVEN LONDON
Paul Woosey FCA, FCCA IS•nior Statutory Auditor)
foT and on behalf of Cravita Audit 11 Limiked
7 Jung 2024
Chartarad Accountants
SlatLrtory Audltor
Aldgate Tower
2 Leman Street
London
E18FA

SAFE HAVEN LONDON
STATEMENT OF FINANCIAL ACTtVlTIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JANUARY2024
Unrestricted Unrestricted
furids
lunds
2024
2023
Note8
Income and endowments frorn..
Chariiablè 8Clivltlgs
51,304
719,610
39,593
34.769
62,309
298.395
Investments
Other incorne
Total Ineom•
810,507
395,473
Ex
ondlturè on:
Ralslng funds
85,262
3,019
Chariiablg 8clivthes
549,472
1,180,200
Total •xpondltur•
634,734
1,183.219
Net Incornlnglloutgolngl resource¥
175,773
1787,7461
Oth•r r•cognls•d galns and 10$$•s
Revelualion of t8n9ible fixed assets
Other gains on investment5
1,084
1.159,305
5,008
225.760
13
N•t mov•mgnt In funds
1,336,162
1556,9781
Fund balances al 1 Febnjary 2023
26,393,219 26,950,196
Fund balances at 31 January 2L124
2T,729,381
26.393,218
Th¥ slat&m•nt of ffinaneial activltiOB inolud8s all galns and Ios$8$ mcognls•d In th• y•ar. All Incom• •xp•ndltur8 d•rfvo
from continuing activities.
The statement of financial activities also cotnplies with the requirgmgnts for an income and gxpgndilurg account under the
Companies Act 2006.

SAFE HAVEN LONDON
BALANCE SHEET
AS A T 31 JANUARY 2024
2024
2023
Notes
Flx&d assgls
Tangible assets
Investrnenl properties
Investments
14
15
16
625,433
8,054,387
625.000
8.679,821
625,001
Current 88sèt8
Debtors
Inv$slm8nts
Cash al bank and in hand
17
18
516,314
18,271,797
438.585
1,628,214
23,234,052
958.037
19,232,696
25,820,303
Credilorg: amounts tslling due within one
year
20
1183.1361
152,0861
Net CLJrrent assets
19,049,5eo
25,768,217
Total assèts lèss eurranl Ilabllltlgs
27.729,381
26,393,218
In¢om• fund$
Unrestricted fijnds
G8n8ral unrgslricled fund6
Revaluation reserve
27,431,030
298,351
26,095,950
297,268
27,729,381
2e,393,218
21,729.381
26,393,218
Th6$0 finahclal statèments have t*én pr*par8d in *ceordanc8 With th8 provisSons *pplicab18 to eompanies subjocl to th8
small companitrs ragimy.
The financial slalemenis were approved by the Trustees on 7 June 2024
Ir M C Patton
Trustee
Company Rgglstratlon No. 5328976
10-

SAFE HAVEN LONDON
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JANUARY 2024
2024
2023
Notss
Cash flows from operatlng actlvltl•s
Cash generalgd fromllabsorbed by) operation
25
1,859,070
12,261,497)
Inve8tlng aetSvltles
Proceeds on disposal of tangible fLxed as8els
Purchas8 01 investment propety
Proceeds from investments
Investment income received
501,121
18,054.3871
4,956.255
719,610
123.189,0521
62,309
N•t cash usèd In Invostlng a¢tlvltl••
12,378,522)
122,62S,6221
N•t cash us•d Sn f5nanclng act1￿1•&
Net decreaie In cash and cash equlvalentg
1519.4521
124,887,119)
Cash and Gash equiv8lenl8 81 beginning of year
958,037
25,845.15e
C•¥h and cash gquiyalenls at •nd ol year
438,585
958,037
11

SAFE HAVEN LONDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
Ac¢ountSng pollcle8
Ch8rity infowmation
Safe Haven London is a prlvata company limlled by guarant88 IncorpDrat•d Sn England and Wales. The regist8r8d
office is Thorncroft Manor. Lealherhead, Surrèy, KT22 8JB.
1.1 Accounting conventlon
Th& financial stalem8nis hav8 b88n pr8parèd und&r th8 historical cost I￿nVention.
The financial slaiements are prepared in slerfing, which 15 the functional currency ol the Chairty. Monetary amounts in
these ffinancial statements ¥e rounded to the nearest £.
Th¢ oG¢gunl$ hav¢ b¢¢n pr¢porcd undcr th¢ hi¥tori¢ol cost convontion. nodificd to indudc lh¢ ￿VOlU￿￿'0Tr of frcchold
properties. The Frincipal accounting Oicigs adopted are sel out below.
1.2 Golng conc•m
Al the tirne of approvlng tha fin8n¢lal Statements. the Trustees have a ￿8$onable éxpeetalion Ih8t the Charity h8S
ad8qUat8 r8soureo9 lo continue in opèrational 8Xl$tène& for the fore$8eablè fulura. Thus tha Trusteès continuè to
adopt thè going conc8rn basis ol accounllng in preparlng thé Ilnandal statamenls.
1.3 Charitable fund¥
Unreslricled funds ar8 avallable for us6 at tho discr81ion ol the Trusl8•s in furth8ranc8 of thèir Char￿abl• obj8ctlves
Iinl*Ax thè fiinrt% hAvA hèfvn flft8ionAlad frjr nthèr piirDnSA.*.
Th8 charfly does not op•rat8 any rastrfclad or 8ndowm8nt funds.
1.4 Incorn•
Incomo is recoonised when th8 Chaiity is leoally 8nliil8d to il after any performance Conditions havts been mèl. the
amounts can be measured reliably, and it is probable that income will be received.
Turnover rglalgs to thg $919 ol propfrrles and Inlgr9$t Incomg from Invgslmgnls. Income 59 r?￿rd￿￿ not ol dls¢ounls,
VAT and other sales rglalgd laxe5.
1.5 Expondltur•
Expenditure Is recognised once there is a legal orcon51ructive obligation lo iransfereconomic benefit lo a third party, It
is probable that a transfer ol economic benefi'ts will be required in setllemenl, and the 8rn0unl of the obligation con be
m98sur9d ￿lIablY.
Expandllur9 is ¢lasslll$d by oclivlty. Th& costs ol ￿ch octlvKy aro rnadg up of thè lol$l of dSr9¢t costs and shared co$ls,
induding suppod Gosls involved in undertaking each activity. Direct costs allributable lo a singlg activity are allocalgd
directly lo Ihal activity. Shared costs which contribute to more than one aclivily and sUPPOrt costs whith are nol
altrfbutabla to a slngla acllvily ar* apportlonod baiwaan those acllvitlas on a basis consist8nt wlth tho uso ol resources.
Central slaff cos15 are allocated on th8 basi5 of titne spent, and depreciation charg85 are allocated on the Portion of the
asset's use.
R*sL)urcès &X￿nd*d ara racognisad when thèy f811 duè, unl8SS tha banafit dèrivad from incurring an oxp$ns8 spans
more than one year., in which case such c05t5 are apportioned over the period to which they relate.
Costs ol advillgs In furth8r8n¢& of the charify's obj9cllv98 Induda all cosls assoclaiod wllh the management anrl
financing of the properties. Expenditure includes any VAT that cannol b8 recovered.
The charity has only one activity and Iherefore costs are not allocated in any way across different activities.
12-

SAFE HAVEN LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
A¢¢ounting policies
Icontinutdl
1.6 Tangible fixéd assets
Tangihle fixed assets are initially measured at cost end subsequenlly measured under the cost or the revaluation
modèl, ng1 ol depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valualion of assets less their residual values over their useful
livas on Iho following b866S'.
Buildings
Computers
50 years
15% siralghl Iln&
Fr¢¢hold land is not depwiated.
The gain or loss arising on the disposal ol an as58t is delgrrningd as Ihe difference between the sale proceeds and the
carrying value ol the 95set, and is reco9nised in Ihe statement of financial acts'vities.
Tlitr Cli&rily'¥ puliLy ib Its TT1aii)￿l17 l¥ds¥liol¢J yrop¥rli*s Iu d 'L￿L¥1)I IIL)iii¥b' slaiidaid. Tli¥ ITusl¥¥s liav* d¥LiLl¥d Iitsl Lv
dèpr8ciatè th8s8 asg8ts In ￿￿W of th& fact that the ass8ts conc8m8d ara to b8 indud8d in th8 accounts at market
V81ue.
1.7 Invgstmont prop•rty
Invcslmcnl prop¢rty. which is proporty hold to corn rontols ondlor for ￿pital apprcciotion, is iniiially rcwgniscd ot Cost.
which includes the purchase cost and any directly atlribulabl8 expenditure. Subsequently il 1$ rneasured al lair value at
the reporting end date. The surplus or delicit on revaluation is recognised in profit 0110sS.
1.8 Fixed asset inv•#tments
Fixed asset investmenls are initlglly measured ot tronsa¢tion prio¢ excluding transo¢tion costs, and ore subsequently
mg88ured al laii v81ue al 8￿h reporting d819. Changes in fair valu$ are rgcognisgd in ng1 in¢omellexpenditurg1 lor thg
year. Transaction cost5 are 8xpens8d as incurred.
A subsidiary Is an 8ntlty controll*d by thè Charlty. Control Is th8 power tc gov8m th& Ilnancial and op8ratlng policlas of
the entity so as to obtain benefits from Ils activities.
1.9 Impalrm•nt of flxgd assèts
At each reporting end date, the Charity ravlews the c8rryihg amounts ol ils tangiblè assttt$ lo d8tèrmln8 whether thèro
is any indication that thtssa asstrts have suffer8d an impairment loss.11 any such indication exists, the recoverabl
Jmounl of the asset 15 estirnJled in order lo delerrnine the exlenl of the impairment Ios5 lif Bnyl.
1.10 Cash and cash ?quivalent$
Cash and cash wuivalenls include cash In hand, deposits hdd al call wth banks, olhgr short-larm Ilquld inveslmenls
with original maturilios of thretr months or less, and bank overdrafts. Bank overdrafts are shown within bL>rrowings in
current liabilitiès.
13-

SAFE HAVEN LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
A¢¢ounting policies
Icontinutdl
1.11 Finaneithl in8trumentJ
The Charily has elected to apply the provisions of Section 11 'Basic Financial Inslruments, and sec￿'On 12 '0ther
Financial Instrurn8nts Issues. of FRS 102 to all of its linan¢ial inslrumenls.
Financial instruments are ￿cOgnised in the Charitl's balance sheet when the Charily become5 party lo the contractual
provisions of thg instrumgnt
Financial ossets and liabilities a￿ offset, with tho nel omounts presented in the financial stalemenls, when there is a
legally 8nforc8ab18 right to $81 off the iecognisgd arnounls and Ihgrg 1$ an int9nlion lo sell18 on a nel basis or lo r8ali$g
the asset and seiiie the liablity sirnultaneously,
8aslc flnan¢lal assets
Basic fi'nancial assets, whieh include debtors and cash and bank balanees. are initi£lly messured al transaction prie8
indiiding transaction costs and are subsequently carried at amortised cost using th& effective interest method unless
Ihe arrangemenl constitutes a financing transadion, where the Iransaclion is measured 8t the present value of the
future receipts discounted 81 a rn8rkel rate of inl8r&sl. Financk818ssels classrfied as ie¢eivablè wthin on8 y9ar ale not
amortlsed.
Dw•¢ognlilon olfln&ncl81 ass6rs
Financial assets aro d$racognis8d only when thè conlraclual rights to tha cash flows from the assgt axpira or are
5ett18d. or when the Charity transfers the financial asset and substan11311y all the risk5 and reward5 01 own8r5hip lo
another gntily, Qf if $prne significant ri$k$ and rgward$ of owngrship or8 rgtBin¢d bur control gf Ihg 0569t h4$
Irangfgrrgd lo another party Ihol is ablg 19 $911 Ihg a9$9t in ils gnlirely lo an unrglalgd third part5.
Bask flnan¢lal Ilablllll
Basic financial liabililias. including creditors and bank loans are ini118lly ro¢ogni$6d ai Iransa¢tion prica unl8s$ the
arranqement constitutes a financina transaction, ￿here the debt instrument is measured at the present value ol the
future payments dis¢ounterJ 8t 8 market rate ol interest. Financial liabililies c18ssified as payable within one year are not
amorti58d.
Debt instruments are subsequently carried 81 arnortised cost. using the effective interest rale melhthy.
Trade creditors are obligations to pay fDr services that have been ae4uired in the ordinary course ol operations from
suppliers. Amounls payable are claSsif￿d as Current Iiabiliiies if payment is due within one year or less. If not, they a
presenled as non-currenl liabilits'es. Trade credilors are recognised initially at tr3nsaclion price and subsequently
measured al arnortised cost using the effective interest rnethod.
Derecoqnilion of finanGi•l liabilfftiej
Financlal Ilabllilles arè deretognised whèn the Charlty's conlraetu81 oblioations gxpire or are dlscharged or cancelled.
1.12 Employee benefit#
Tht> rnst nf any unuspd haliday gntitl8m8nl is r9e￿nISe.￿ in Ihft pg.rind in whirh tht> gmplaypg.'8 88rvicfts rargivgd.
Ttrrminalion benefits are recognised immediatèly as an expanse whtsn Ihe Charily is demonstrably ¢omrnitted lo
terminate the employment of an employee or to provide lerminalion benefits.
1.13 Retlrefftent beneflts
Paymenls lo delned contr11￿tiOrI retirement benefit schetne5 are charged as an expense as they fall due.
14-

SAFE HAVEN LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
A¢¢ounting policies
Icontinutdl
1.14 Lottn focility fees
Costs incurred in arranging new loan lacilil'es are treated as transactions costs and are netted off against the loan
wh¢n accounting for il undgr the amortisgd costs basis.
Crltlcal accountlng estlmates and ludgernènt
In the applicakn'on of the Charity'5 accounth'ng polic￿5, the Trustees are required lo make judgernenls, estimal85 and
assumptions abcut the carrying amount of assets and liabilities tha1 are not readily appa￿nI from other sources. The
gstimates and asso¢ialed assumptions arg based on historical $xperi¢ncg and olhgr factors that arg cc)nsidei¥d to bo
r8levanl Actiial ieqiilts may diffar Irotn the58 eslitn&tes.
The e81imales and underlwng assumptions are reviewed on 8n ongoing basis. Revisions to a¢¢ounling gslimales arg
racognis8d in the period in which the 851imale is revised where the revisK)n affects only that periiKI. or in lh8 period ol
the rovision ond future pericés where the revision affe￿$ both current gnd future periods.
In¢ome from inve8tments
Unrestrlctod Unrostrlcted
funds
lunds
2024
2023
Inv9$1mgnl Incom9
Interest receivable on deposits
192,751
526,859
3,846
58.663
719.610
62.309
Charltabl8 actlvltlgs
Lgase Incom•
2024
Lèo88 Incomo
2023
Ren181 income
51,304
34,769
15-

SAFE HAVEN LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
Othfji Income
VnrÈgtricted Unr•9trictèd
funds
lunds
2024
2023
Net gain on disposal of tan£ible fixed assets
Intere81 receivable on loans
192.435
los,￿0
39,593
39,593
105.%0
Expendlture on ralslng funds
Unr•strl¢tod Unrgstrlctgd
fund8
lund8
2024
2023
Fundraisin
Advertising
and ubliril
1.620
300
Investment man
ernent
83.642
2,719
85,262
3,019
16-

SAFE HAVEN LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
Charltable acto￿tIes
Direct
activities
2024
Direct
a¢tivities
2023
Impairment Ios6e8
In8uranGe
Repairs and Maintenance
Project Manag8rn•nt Fo8S
Rant
Telephone and Fax
Prlnting Postage and Statlonary
Sundry Expgnses
Travel and Subsstancè
Service Charges
Olhgr charitable gxpenditure
4,9U6
4,626
7U7.196
9.150
3,150
40.941
1,023
1,713
109
4.025
10,113
420
8.731
990
1,422
14
3,740
3,632
3,706
5,614
28,740
876.571
Grant fundlng of actlv11195 note 81
220,000
Share of support costs (see note 91
Share ol gov8rnanee costs Is8è not8 91
650
300,082
303,629
549,472
1,180,200
Gronl$ payabl
Total
2024
Gran15 10 inslilulDns'.
Centrapolnt
Other
125,CA)O
95.(A)O
220,1X)O
During th* year ondèd 31 January 2024, Ihtr company has m8de paym¥nts r*laling to grants amour)ting to £220,000.
These grants were provided to selected organisation5 to support people requiring assistance to find ac£offimodation.
17-

SAFE HAVEN LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
Support costs allocat￿ to acUvltl•s
Total
2024
Tot81
2023
Depreciation
Governan¢e
650
300,082
303,029
21124
2023
Govornan¢è co8t8 comprl80'.
Staff costs
Audit feas
AcGountancy
Legal and prole&sional
Bank charges
Con8ullancy f688
100.122
28,440
51,722
76.692
706
42,400
121,862
16.350
52.664
82,S38
215
30.CQO
300.082
303,629
10 Trustees
None ol the Trustees lor any per80ns connected with them) received any remuneralion or benelily from the Charity
during the year.
11 Employ•8$
The averoge monthly number employees during Ihe year was,.
2024
N￿rn￿r
2023
Numbor
Adrnlnlslrallon
Employm•nl costs
2024
2023
Wages and salarltss
Social security costs
Other pension costs
92,483
6.318
1,321
110,667
9,875
1,319
100,122
121,862
18-

SAFE HAVEN LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
11 Employ•¢$
Icontinutdl
The number ol employee8 whose 8nnu81 remuner8tion wag more than £60,000 is as
follows..
2024
N￿rnbOr
2023
Numbor
Band.. £90,000-£100,000
Band." £100,000-£110,000
12 TAxatlon
The company Is a règlst8r8d charfty and Is. IhérÈlore, 8x8mpt from taxation.
13 Othér galn8 or losses
Unr•strlcl8d Unreslricied
funds
lunos
2024
2023
Unr8alls8d galn on inv8stmenls
11,159,3051
1225,7601
14 Tangible fixed aBJets
Bulldlng8
omput•rn
Cost ur valuatlon
At 1 February 2023
Revaluation
623,916
1,084
3,253
627,169
Al 31 January 2024
625,000
3,253
628,253
Depr•ciation and impairment
At 1 February 2023
DÉ*pr6claliDn r.hArood In thè yAar
2.169
651
2,169
51
At 31 January 2024
2,820
2,820
Carrying amount
At 31 January 2024
625,000
433
625,433
At 31 January 2023
623,918
1,084
625,(K>O
Land and building5 witr a carrying amouiit of E43.000,000 were r8valu8d on October 2021 by Jones Lang Lasalle
Li￿lted IJLLI, an indep8nd￿t prof8Ssional Services firm 5P8cialising in r8al 85tate 58rvic8s. Th8 valuation conformed
lo Internation81 Valuation Standards and was based on recent m8rkel trens8Gtions on arm's length lem15 Tor sirnilar
proptrrties. as acl'usted for the properlies undergoing refurbishment works to conlorm to thtr 'decenl homes standard,
prior to being Sub-leased to Plexus, an independent social housing provider. The bulk of the properties were suld
during Ihe year end￿ 31 Jgnuary 2022, howaver at 31 J¥nu¥ry 2024 two prtsparti&s aro Still hold at the value
dolertnined by JLL. This is deemed appropriate.
19-

SAFE HAVEN LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
14 Tangiblo fix•d ass•ts
Icontinutdl
At 31 J8nu8ry 2024, h8d the rev8lued o$sets been ¢8rried 8t historic Cost less 8¢¢umul8ted depre¢iotion and
accumulated irnpairrnent losses, their carrying atnounl would have been approximately £25,79212023 - £30,927).
Thg r8valualion rasèrvo rèprasènts thg following rnovgmenls..
BalarKe as 1 February 2023 £292.260
Disposals
Balanco al 31 J￿Uary 2024 £292.26J
15 Inv•iim•nt prop•rty
2024
Falr valuo
Al 1 February 2023
Additions Ihrough 8xtèrnal aCqLJlsiiion
8,054,387
Al 31 January 2024
8.054.387
The leasehold propety. held lor rental purposes, is recorded in the financial statements al 115 lair value as of 31
January 2024. The fair value is determined to be the direct purchase pri￿ of the investment properly, acquired two
wegk5 beforg the gnd of Ihg financial yeai. Giv8n Iha recent acquisition dat8, the ¢osl represents the lair value. The
property is calegorised as Level 2 in the lair value hierarchy due lo the use ol observable input5 Other than quoted
prices.
16 Flxgd asg•t Inv•gtm•nl
othor
investments
Cost or valuation
Al 1 February 2023 & 31 January 2024
Carrylng amount
At 31 Januory 2024
At 31 January 2023
2024
2023
Other investmenls cornprise-.
Notes
Investrnents in subsidiaries
-20-

SAFE HAVEN LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
17 Debtors
2024
2023
Amount8 f8lllng due wlthln one year..
Amounts owed by subsidiary undertakin95
Other debtors
Prepayments and accrued income
501,T33
120
14,461
1.463.020
150,575
14,619
516,314
1.628,214
18 Currenl a68et invo8tmènts
Z1124
2D23
Investrnen15
18,277,797
23,234.052
Includèd wilhln Investmènts Is a s8curblès backed l&ndlng amount of £3,932,422, ￿1th Is secured by a charg8 agalnsl
all monies held by Sale Haven London with Barclays Bank PLC 81 Ihe year end lotalling £22,427,61 S.
19
Flnanelal Insirum•nts
2024
2023
Carrylng amount of flnan¢lal aJs•ts
Instruments rneasured at fair volue through profit or loss
18,277.797
23.234.052
20 Credltors.. amounts falllng due wlthln one year
2024
2023
Other laxalion and social se¢urily
Trado ¢r$dilor8
Other creditors
Accrua15 and deferred incorne
15,582
69.131
565
113,440
27,(Y)O
183,136
52.086
21 Ev•nts aftèr th• r•portlng dat•
After the balance sheet date, the Charity purchased additional investment properties lotalling the value of £3.970,000.
21

SAFE HAVEN LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
22 Subsidlarles
These fin8n¢i81 ststements are 8ep8r8te Ch8rrty fin8n¢iel st8ternents for Sale Haven London.
DetaiL% of the Charity's subsidiaries al 31 January 2024 are as follow5..
Nam• of undortaklng
R8glstor•d
Naturo of buslnèss
Class of
shartrs l)eld
°A Hold
Direct Indir&¢t
Saf• Hav8n London Isharod 3 Bunhill Row,
0￿ershIp) Limited
London, England.
EC1Y SYZ
Real Estat8
Privat8
company
Ilmil&d by
guarantee
without sharo
cepllal
100.00
The aggregate capital and reserves and Ihe result lor the year ol subsidiaries excluded from consolidation was as
follows..
Name of und•rtaklng
ProflVILossl
Capltal and
Reserve&
Safo Hav9n London Ishorgd
grshipl Litnilgd
146,242
B05.420
23 Relatsd party tran8a¢tions
Remuneratlon of key management ppr8onn•l
Thg rgmungralion of kgy rn$nag9m&nt pgrsonngl 1$ as follows.
2024
2023
A99r89at8 compènsation
93.804
111.988
None of the TryisteÈS Dr anyone connetled with them received rÈmunerition from the charity in the year
Transactlons wlth r•latod partles
During the year the Charity entered into th8 following transaclions with related partie5'.
2024
2023
Entilias in which the Trustees have interes
78.694
30.808
78,694
30.808
-22-

SAFE HAVEN LONDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
23 Relatsd party transactions
Icontinutdl
Amounts owed to relthtod ￿rtIeS
The following amc>unls were outstsnding at the reporting end dale..
2024
2023
Entilies in which the Trustees have interests
46,200
Entities in which the Trustees have an interest include..
1. ChoGk PrDfe55ional SetViGe5 Liniited - a GDnipany Gonlrollvj by oiie ol the tru5tEe5. This Gotnpany paid
disbursements o- £18 on beh811 of the ¢harily in the current year12023'. £4751. The charily 0￿￿j the ¢ompany £nil1202
3.. £nill al the year end.
2. R28 H - o ￿mpanY ¢ontrolled by N Morkhom. This ￿mpanY was paid £nil by the charity in Ihe current year12023 £
2841.
3. Cheslerman Consullanls Ltd - a ¢ompony conlrplled by E Cheslerman. This ¢ompany wos poid ¢onsulian¢y fees ol
£78,6DO by the Charity in thg current year12023., £30,0001. The balan￿ owed lo Ihg company al Ihg year wa¥ £46
,20012023. £9.6001.
4. The F¢egeneralion Consultancy Ltd - a company controlled by James Kerr. The company was paid consultancy fees
01 £8,40012023'. £Nill
Analy$lJ of changos In nèt fund•
Includèd wlthln Investments 1$ a $6curth68 baeked l&ndlng arnounl of £3,932,422.
25
Cash g•n•rat•d from operations
2024
2023
Surpluslldeliull lor tr8 year
175,773
1787,7461
Adluslments for,.
Invesimenl incorne recognised in stalenent ol ffi'nancial activities
Gain on revalualK>n of inv85tments
Gain on dispos810l tangible lixgd assets
Doprecialion and impairmonl ol tangiblo fixed assets
1719,61 DI
1,159,305
162,3091
225,760
1192,4351
5,646
Movements in working capital..
De¢re8sellincreasel in debtors
Increasolld¢creasel in crodilors
1,111,900
126,056
11,401,910)
142,8271
Cash genèrat￿ fromllabsorbod by) op•ratlons
1,859,070
12,261,497)
-23-

This document was delivered using electronic communications and authenticated in accordance with the
registrar's rules relating to electronic fonn, authentication and manner of delivery under section 1072 of
the Companies Act 2006.