2025 ANNUAL REPORT NewslrAide The helping hand of the Newstrade CONTENTS Patrons & Officers Board of Trustees 2 Patrons. Officers & Trustees Patron: The Wscount Rothermere Chair. Tracy 0Sullivan (Dlstributionl (Resigned us Choirjune 2025 but continued os o TTu5tee) 3 Our Objects. Mission &Aims PresldenL' Oavid Dinsmore Chair. Adrian Hughes (Distribution) (Appointedjune 2025J 4 Committees & Welfare Volunteers Chief Exe¢utlve Offl¢er. Neiljagger 5 Welcome from the Chair & CEO Operations Director. Tom Rodger (Resigned March 2025) John Bardsley IDistributionl Colin Fletcher (Retail) (Resignedjune 2025) Mark Gilhespie (Wholesale) (Appointedjonutiry 2026) Parin Gohil (Publishingl Ingridjones (Distribution) Shaun lones IPublishingl Grantjordan (Wholesale) (Resigned November2025J Surjit Khunkhun (Retail) Paul Latham (Wholesale) (Resigned Februury2026) Mike Mirams (Publishing), Lucy Robertson (Wholesale) (AppointedJonuary2026J Mylene Sylvestre IPublishingl Richard Webb (Wholesale) 6 Achievements & Performance Operations Manager. Paul Bacon (Appoinred Morch 2025) 8 An eventful year for NewstrAid n•n¢e Dlrertor. Laura Grice 10 Financial Review 12 Risk Management 13 Objectives for 2026 14 Structure, Governance & Management 16 Trustees, Responsibilities Statement En8a8ement & Communications Manager & EA to the CEO: Ltndsay Rule Welfare Manager. Katie Babooram DepirtyWelf•re Manager. Frankie Gabbani 17 Independent Auditors Report 19 Statement of Financial Activities Welfare & Benefits Officer: Georgia Cannon Legal & Administrative Details 20 Balance Sheet Welfare & Admlni5tration Assistsnt Joanne Willis Auditors Alwyns LLP Crown House, 151 High Road Loughton, Essex IG10 4LG Solicitors Withers LLP 20 Old Bailey, Lor)don EC4M 7EG Investment Fund Managers Rathbone Investment Management Ltd 30 Gresham Street London EC2V 7QN Bankers Barclays Bank PIC 1 Churchill Place London E14 SHP 21 Statement of Cash Flows 22 Note5 to the Financial Statements Welfare Officer Imatemlty cover): Mel Fliri Uoined November 2025) Ic&Presidents: David Mackay Rupert Murdoch AC OUR OBJECTS. MISSION &AIMS OUR OBJECTS To relieve persons who are in conditions of need or hard5hip,' and io relieve the distress caused thereby through the provision of welfare for person5 who are, or have been, employed in the selling and distribution of newspapers, mBgazines and periodicals Iyhe Trade'l in the United Kingdom, including their immediate family and dependants. Engagement shall normally have been for a minimum of five years for the award of regular benefits but may be less for other grants and services. OUR MISSION To generate sustainable incomes to enable the charity to provide welfare co qualifying beneficiaries and to distribute those funds in ways which deliver the best value support in the context of rigorous governance. OURAIM To provide welfare for persons who are. or have been, employed in the selling and distribution of newspapers and magazines in the UK including their immediate family and dependants, who are in hardship or distress. WEAIM TOACHIEVE THIS BY: Providing Welfare Support One-off financial grants, long-term financial support, mental health support and other assistance Raising Awareness Industry engagement Trade partnerships Running events Advice and signposting Befriending services COMMIThEES & WELFARE VOLUNTEERS Welfare Committee Welfare Volunteers Ingrld Jones- Chalrwoman Sam Whlteslde- Vlce Chalrman Sue Abbott Pat Mayall Paul Bacon UoinedMor2025) Peter Mcclurg Sally Bardsley Pauline McDonnell Elizabeth Bayley Ryan Michael Graham Benne Ray Monelle Mlke Bowker Alan Mottram-Playfoot Andrew Boyd Andrew Munro (RwnerlMor2025) John Bradshaw lan Naylor Jacqui Broadbridge Jean Neill Robert Broadley Jeremy P3rfect Mike Buckmaster Alan Pemberton Richard Burke Farhad Pezhman Simon Burrows fvned Nov2025) Tony Pink Nick Carling David Piper john Chapman Lidia Popa Ken Chapman Darren Powell Elaine Cleary rim Prideaux Alan Cocklin Kevin Rance (R¥nedDec20251 Trevor Collier Cralg Reynolds Phyllis Corner Colin Rogers UdnedFeb20251 Carole Crocker Steve Rogers OolrtedNov20251 Andrew Crosthwalte OoinedMoy20251 Tom Rodger Annette Dodds IRe*nedJu12025} Wendy Ross UoinedFEb20251 Colin Duke Vera Seaman Mary Field Chris Shuttleworth Colin Fletcherirkndjun 2025) judy Frumin Paul Goodall Graham Hales Allen Harrigan Odned Feb2025) Terry Jackson u￿ne0M0r2Q2sj Ingrid lones Kevin Jones Simon Kirkham Carol Lake Ooinedjun 2025J Paul Latham Scott Lisier Nettle Malic UdnedMar2025) Martin Manuel Dave Martin Alan Cocklin Colin Duke Mary Field David Hall (ResignedJune20251 Martin Manuel lean Neill Darren Powell Terry Skip5ey Mylene Sylvestre Dave Winn OoinedJune20251 Investment Committee Adiian Hughes- Chairman Claire Blunt Laura Grice Parin Gohil Mike Newman Alex van Straubenzee Terry Skipsey Roddy Smith (Re5ignedDec20251 Emma Thomas Don Thompson Alex van Straubenzee john Walsh Mike Walsh Cathy Watkins Gill Webb Jeff White Kevin Whitehead Sam Whiteside David Winn Esther Winn I was and am, as ever touched by your kindness and compassion. It really has made all the difference over the years having NewstrAid to lift my spirits and restore my faith in humanity. yy WELCOME FROM THECHAIR&CEO ADRIAN HUGHES CHAIR In 202S, NewstrAid continued in its work to support those in our Industry that need help in times of hardship. While cost of livin8 pressures have stabilised after the sharp spikes of recent years. many people we 5UPPOrt continue to face significant financial and emotional challenges. Against this backdrop, demand for N￿trAld'S support remained high. Hundreds of households continued to receive financial èssistance in 2025, with 72 household5 beneliiing from Newstrmds support lor the first time. These figures underline the continued financial pressures facing many within our industry. despite ear signs of economic recovery. for 5uppor(ing a retail recruitment drive that resulted In over 780 new retailers joining our regional lottery programmes.. dmg media and Ne￿ UK for renewing their corporate 5upport,' and Newsieam, foi becoming a new corporaie suptK)rter. Events coniinued LO play an important role in raising awareness of NewstrAid and the support available to trade colleagues facing hardship. In 202S. Ihese included our Linglield Race Day, the Chri51m85 Carol SeNice at St Brides Church. a Scavenger Hunt with 25 registered team& a revita115ed Rhmsgate Fishing Day, 3nd a wide range of regional events across the country. We also carried out fundraising aciivities ai reiail and publisher conferences. awards evenings, and industry lunches. In addilion, New5trAid informaiion displa￿ are now visible ai wholesale and retail depors across Ihe UK helping 10 ensure siaff are aware of the supporr available to them. During the year, we undertook a review of the support provided 10 OLJr regular beneficiarie5 EQ ensure It continued to tnake a meaningfful difference to people's lives. This rewew Identified a group ol households facing exceptional financial hardship and In need tsf addi(ional help. In response, we introdLJced Ihe Helpin8 Hand Grant, delivering £34.000 in targeted support to vulnerable households in the lead-up to Chrisimas. Our Retailer Supporf Scheme, rebranded In 2024. coniinued 10 build momentum, with 66 reiailer5 and their staff receiving grants In 2025. We are particularly graieful to Newrrade Media and The Fed for their generous suppon In promoiing the scheme to retailers through their magazine5 and websites. We are immenselythankful to our Area Commitee members and Welfare Volunteers, whose dedication ensures thar every beneficiary receives regular visits or calls throughout the year. Our sincere thanks also go to the members of our Investmeni and Welfare Committees and Tru51ee Board. all of whom generou51y give Iheir time to suppon NewS[r￿d and help us achieve our objeaives. NewstrAid5 5uppor( exten015 beyond financial a551Stance. Our online Wellbeing Suiie, which offers 24-hour emotional support. counselling and practical guidance 10 improve overall wellbein& wa5 accessed by more people than ever before during the year, In addition. 345 advice only referrals were made by the welfare team. Finally, we thank the NewstrAid teèm based in Bishops Stortford, who work iirelessly ro ensure the charity remains relevant and continue5 to deliver a first-class service to our beneficiaries. We also extend our best shes to our former Operations Director, Tom Rodger, on his retirerneni, and warmty welcc>tne his successor. Paul Bacon, whose first fundraising effort saw hitn run the Chicègo Marathon and raise over £1,500 for NeW5[r￿d. We are deeply grareful for the 5uppon we receive from our industry partners. far too many to list in full here. However, 3 few deserve speiial mention.. Smiths News, NEIL JAGGER CEO Looking ahead 10 2026, we will continue to support our current beneficiaries in a iimely and effeciwe manner and exiend our 5etViEes to new beneficiaries, as our anatysi5 highlights a rising demand, p3riicJlarly among younger age group5. ACHIEVEMENTS & PERFORMANCE ACHIEVEMENTS AGAINST OUR 4 KEY OBJECTIVES FOR 2025 Increase welfare delivery and protect and improve regular beneficiaries, standard of living Protert and optimise NewstrAid's income stream Highest-ever total of £121 k raised through Corporate Donations Recailer Support Scheme generated 66 successful payments and ha5 SUPPOrted 130 retailers and their shop staff to date Almost 800 retailers within Stniths Nev4s wholesale territories and 200 through Newsteam's network were recrulted into the lottery programme Visitors to our Wellbeing website grew by 13% £34k An additional Helping Hand Grant totallin8 £34k was paid to a group of beneficiary households in need of additional assistance Lotcery fees were Increased in 5 territorles and Retail Charitable Donations were introduced in Norrhern Ireland 7￿ of all SLJccessful applicants were received through the Lightning Reach portal ensuring a faster turnaround of grants Investment Fund achieved an all-time high of £16m Ensure NewstrAid volunteers continue to play a key role Work with stakeholders to continue and grow engagement with NewstrAid 17 telephone volunteers are now onboard and supportirbg NewstrAid Convenience Store, C-Talk and Talking Retail now promote how NewstrAid supports the retail trade An online training resource is now live making the welfare volunteer induction process swifter and easier 8 Retail trade events and conferences attended by the NewscrAid team 25 teams including a number of new contscts from across the industry registered for the Scavenger Hunt Avery successful Welfare Volunteer lunch was held as well as 4 online drop-in sessions Just a quick thank you to all of you for the very kind payment of £150 winter comfort grant . . We will now be able to have the heating on that little bit extra as the nights close in and it gets colder. 8 dlsplays are in place within wholesale and retail depot areas E-mail subscriber5 8rowlng and the Fed now send the e-new51etter to their retaller database. yy AN EVENTFUL YEAR FOR NEWSTRAID KEY HIGHLIGHTS DURING 2025 INCLUDE: FEB New%trAld Sury& Sussox Arga Commlttse ho$1$ fts Iltst Curry Night for ffjt•Jws Rotdl8r Supporl Schgmg awards Ns 1fAlh granl Blnce h8 ￿_ •• unch In Mty2024 NewsirAid has saved my life so many limes over many troubled years and I thank you (rom the bottom of my heari. yy MAR_-riAPR_ MAY NeKstrAKI Tom Rodger Mindlul Ilay Commiltee Swing walk tak06 pla¢0 us and Paul thstributed to more than 3Y) ly￿¢￿Clarie5 n8tr General Hwdshlp Fund launch&J to replg the Cogt-of-Li¥ing Fund NMA'S rnlso for NMtrAld for th? firstthme rnsulbng in ). JUN Tr*wstrAKI P*w5 When unexpected costs Crop up it is sometimes di￿leuIt to cope with that additional strain on finances; next week I have a dental ap￿intment whlch I have been putting off for a while, so l am trulv graieful Ihai wilh your 5upporl, l am able to aitend without Ihe exira worry of ihe payment! ¢ommttt lundr818kng dogM St4dCMd Wollare wluntser8 ¢dePrted as art ol Natlonal olunte•rs week ¢>JllDaytskn and recrummènt cafflwgn launch8d V•fwAm yy rkntrAkl f*ws AUG _~ - SEP rkntrAid News Voluntaer Lunch tskeB pl9¢9 In London Nwdepot JWty- d￿￿8Yed acroB8 8 dlfferent Sco￿9¢r Hunt tskes place and rni59s £2k for thè chartty bU￿ne&￿e Eut olEn9lond F￿hIng Dty #11$ oul rE￿ng £1,7(WJfvJrthpch¥l¢y OCT_ ,Nov ££ Onllngwdlaro yo￿J￿189r￿a1rlng Course ou1*> voluntO8rn l am so grnteful for the help you give me which allows me to sort out those household problems which sometimes occur unexpectedly. Wlnt8r Comltyl Grant hdp5 more than 3SO bèn*S1rf08 kngp wann overthg wlTht9r yy DEC_ Chrlsknos B16cuIts sollt to nearty 500 b•n•fictirie5 a5 a fesll 'lo all at NewstrAid, thank you so much for the super tin of biscuits I received this afiernoon! Such a surprise and a most welcome one. As a long sianding 'biscuitaholic' l am delighted to receive them, and the lin itself will be most useful when the contents are gone: Number ol new appli￿nts in 2025 rnachts 79 yy FINANCIAL REVIEW The charity reteived £2.OOm12024.. £2.01ml in income during the year, which exceeded budget expectations by £O.18m. Total expenditure of E1.82m12024.. £1.85ml was in line with budget. INCOME 2025 £2.OOM BUDGEf£1.82M EXPENDITURE 2025 £1.82M BUDGET£1.82M REALISED GAINS 2025 £0.03M BUDGEf£o.OOM SURPLUS 2025 £0.21 M BUDGET£O.OOM The surplus for the year. after accounting for realised gains on the disposal of investment5. was £0.21m12024.. £0.10ml, £0.21m greater than budget. The unrealised gain on the revaluation of investments during the year of £1.29m12024'. £0.74ml. represents mtsst of the net increase in funds of £1.50rn12024= £0.84ml. WHERE OUR INCOME CAME FROM Don•tlons. events. and glfts In kind- £OA4m On average, 11.7k rerailers tn3de weekly donaiions of 40p per week roialling £0.22m12024". £0.24ml acr055 the year. Donation5 from retailer5 were 4% higher than budget due io recruitment during the year. work of the charity. Ir)come has remained broad￿ the same year on year, decreasing marginally by l %. Investrnent income- £0.46m Inve51meni Iniome was £26k ahead of budget and 7% higher than last year due to stronger Ihan expected equity markei performance. Corporate donarions Increased for the third consecutive year to £0.12m12024.. £0.IOml, these donaiions are kindly given by leading ne￿[rade names. Other donations of £0.01 m12024'. £0.01 ml come from oiher fundraising Initiatr￿e5 such as Ihe annual raffle held bythe Associaiion of Circulation Executive% IACEI which supports the children'5 Chrisimas grani and other (haritieslindr￿dUaIs. 9 fundraising events were held during the year12024'. 121 raising £0.06m before cosis12024.' £0.06ml. £2.OOM Gifts in kind £0.03m12024.' £0.03ml relates to free advertising received to promoie welfare iniiiaiives. valued ai rhe cosi the charity would have been willing to payfor those 5eMces, not the market value, in accordance with the Charities SORP. (20X' Q01M) Lottery- £1.1m The charity runs 13 lotteries across ihe country and c(>nducts 148 lorrery draws a year. Over 1,000 new nicipants were recrutted inio the lottery during 2025 adding £0.06m to loiiery income. Retailer Donations £0.22m 12024. £0.24ml 12024.. £0.10ml Other donations £0.01 m12024.. £0.01ml Events £0.06m12024.. £0.06rn1 Gifts in kind £0.03m12024.. £0.03ml Lottery £1.1 m 12024.. £1.14ml We do not proactivety engage wth the public 10 raise funds and rely on the long-standing felationshlps formed with oijr indLJStry supporter$ 10 continue the 12024.. £0.43ml 10 HOWWE SPENT OUR FUNDS Dirert payments to beneficiaries- £0.77m Payments to beneficiaries have decreased In total value by 5% in the year due to a lower number of applications. During the year, we reviewed the level of support piowded 10 our regular beneficiaries to assess whether our contributions were making a rneaningful impact on people'5 lives. The review did noi highlight a need 10 increase the reEul3r beneficiary paymeni amour)Is outside of the regul3r Inflationary Increases, however, it did identify a group of households experiencing excepiional financial hardship and in need of additional SSi5rance In re5pon5e. we esiablished the Helping Hand GranL which provided targeied support to vulnerable households shortly before Chri5tma5. £1.82M 12024. £1￿5M} Direct payrnents to beneficiaries £o.nm1202dk' £0.81ml Costs of ralslng funds and other income- £0.57m The cost of raising funds and oiher income mostly consists of lotiery prizes which represent 21 % of the total lorrery income received Also included is rhe cost of setting up and running fLJndraising events, Including an apportionment of staff costs and overheads, as well as the corresponding cosr to gifts in kind. £0.23rn 12024: £023mi £0.04m12024: £0.04ml £0.30m1202dk' £0.3(kn1 Event costs Fundra151ng verheads and tsyiff cn.%t5 Other costs of charltable activities £0.41m 12024.. £0.40ml Otharcosts of Charitable artivities-£OA1m Siaff costs and overheads associated wilh charitable aclivities SLJch as facilitating welfare payments volunteer Irainin& adminisiration, signposEin& and befriending. Governance costs £0.07m12024.. £0.07ml We aim 10 streamline running costs to ensure that we can allocate (he maximum amount of fLJnding possible to our beneficiaries whilst also complying with rigorous governance policies. Govem•n¢¢ ¢osts-£0.07m Governance cost5 have remained in line with previou5 years due to efforts made to control costs. INVESTMENTS Ouri-ie- j(Jr'.i) iiere .i.)ILied at £16.Om at Ihe ye3r-er)d 12024.. £ 14 >ml. l i)e ioial reruri) on Investmenis during th.e year was 12.33% nei ol lees12024- 7.98%). made up ol Income 3.124 12024- 3.0S%I and capiial reiurn 9.21%.12024- 4.93qDI. LAURA GRICE FINANCE DIRECTOR See page 14 for furiher inloimaiion on oiir InvesEmeni Policy. 11 RISK MANAGEMENT The Trustees and Executfve Management Team have contlnued the approach to risk management introduced in 2022. Strategic risks are monitored by the Trustees with Operatlonal Rlsks managed by thè Executive Management team. There are seven strategic risks and there has been no significant change in the impart or likelihood of these afferting the charity. The Trustees and Management Team are confident that the measures and controls in place are sufficient to manage the Charity. Item Potential Risk Comment After a Steep fall in TDarket5 acr055 the world in early 2025 our Investtnenis. managed by Rathbones, recovered giving 3 total return of 12.33% for the year. We continue to work with our fund manager to siructure our investments io a(hI￿Ve th opiirnuffl risk within our risk profile. Vlith the curreni value of invesiments. we can be confident on wiihstanding 3dverse market fluctuation5 Wlthout Ihe shori to ffledium rerm fur)ctioning of the charity being threatened. Investment Income Economic VDlatility 3nd/or the market economy declines to such an extent thai investment return is significant reduced and Sustsinability of the charity Is Impaaed. Purpose of Charity Significant decline In beneficory nurnbers, Impacting raison detre of NewsrrAid, An increase in regular benefit awards In 2025 ha5 re5uked In the total number ol beneficiaries declining at è slower rate comparecj to previous years and whilst new applicant numbers were lower than 2024. they retnain higher Ihan 2022. Purpose of Charlty The relevance of the charitys activity 2nd welfare offer diminishes across the industry. Our various scheme5 such as Ihe Retailer Support Scheme, Help for Hobbies and Gener31 Hardship Fund continue to ensure the charity meets the needs of IndiMduals In the trade. We have broaderied our support for those facing one-off crisis because ff Is an esseniial part of our ability to help. There were zero breaches in 2025. The charity tske5 5ecuiity and privacy very seriousty, v40rking with our IT partnef, to ensure all reasonable actions are taken to en5LJre data 15 safe. We have had Cyber Essentia15 certification since 2024 and conduct a system penetraiion test annually which was passed In 2025. Staff also undertake annual cyber security training- the trailliTrg module5 Bre refreshed everyyear. Securlty and Privacy of Data A breach of se(urity or coniravenrion of legislation resulting In Ios5 of data, da being compromised or cyber ransorn. Action by Regulators The current lottery reciuitment model ruled inappropriate leading to the inability 10 undertake recruitrneni and an increased r3te of income decline. Kings Counsel review in 2024 confirmed (hat the current 'opt-ouf approach to engagemeni satisfies all regulaiory requirements. Industry Support wholesa￿[5 Wlthdraw support frorn the charity. InPost have mainiained supporr since their takeover of Menzie5 last year. Wholesale contraas run through to 2028 and both rtiaiorwholesalers have diversified to ensure Ongoing 5UStainability. Despite the nutnber of retailers being In decline. NeWstr￿d remains relevani across the industry as evidenced by th proportion of retail&rs supporting lotterie5 remaining stsble. There has also been an Increase In corporate sponsorship and event 5UPPOrtlatt&nd8nce from across the industry. Industry Den finance, welfare, fundraising and markering The fifth meeiing lakes place on Ihe same day as the AGM, in order to elecr rhe Chairman and Vice Chairman of (he board as well as eleciing Ihe members of varioLJS committees. The board Current￿ nominates up to five managing Trustee5 of Old Ben Homes, an affili3ted charity. There are currently three Trusiees who have been on the board for nine year5 or more. A review has been conducted, considering the need for progressive refreshing of the board, and the Trustees agreed that the experience and industry conneciions held by the three Trustees was required for the board to operaie effec[ive￿. Investrnent Policy The Trustees adopt a rredium risk Investment strategy based on a diversified portfolio. The objettives stated in our Invesrmenr Policy are.. To produce the optimal total return balanced between incotne and capiral To maintain the re31 capital value for as long as possible whilst generating a sustainable level of income 10 support (Jrreni charitable ac1p￿tieS. To achieve an annu31ised iotal return of CPI plus 396 net of fees. and Income of CPI + 2.S% over the lon8 ierm. The Investment Policy specifies that the Investment Committee Is required ro considec Ihe congruence of poteniial ir)vestments with the aims of the Charity and current fund guidelines prevent direct inve5tmeni in companies which derive more than 20% of their iurnover from gambling, tobacco, pornography or high interest lending. ManaBement The Chief Executive Officer ICEOI is responsible for Ihe day- to-day management of the NewstrAid Benevolent Fund. Reporting to the CEO are the Operations 14 In accordance with the policy. an independent review assessing the fund managerfs performance is conducted ai leasi ￿ery 5 year5, or earlier if performance is noi in line with the objectives staled above. see note 2, at the rate which would have re850nably been paid by the charity for the seMce5 received in accordance with Charity SORP. The value ol serwces provided by volunteer5 IS nor included in rhe financial statements Ir) accordance with Charity SORP. All volunteers are subjett to Disclosure and Barring SeNice checks as appropriate. Reser￿$ Pollcy The charitys reserve poliry 15 to relain reserves covering ai least 5 years current expenditure levels, excluding paymen￿ io regular beneficiaries which are held in a desi8nated fund. Regulatlon The Charity understands its duty to protect the ptjblic, including vulnerable people, from unreasonably inirLJsive of persistent fundraising approaches and undue pressure to donaie. We do not fundraise from the public through door-to-door, telephone or lace- io face fundraising. Our primary sources of income are donations, lottery contributions, and Investment returns. The Charity has commercial relaiionships with wholesalers who collect monies on our behalf and these businesses understand the need ro proie(t the public and have their own policies to Ihis effect which NewstrAid Benevolent Fund regular￿ reviews. 66% of Ihe chariws income is received frotll newspaper and magazine re(ailers (retailer incomel this income stream Is In deiline due to decreased profitability In the indusiry. Investment income Is being used to 5UPPOrt retailer income 10 tneet expenditure commitments. Long-ierm forecasts show that In the nexi 1 to 2 years, reiailer Income will have declined 10 an extent where investrneni Income can no longer bridge the gap between retailer income and expenditure and the charity will need Lo sian using free reserves to fund cash flow. The ChariEy is regstered Mih the Fundraising Regulaior. Neither the Charity nor any person acting on behalf of rhe Charitywas subieci io an undertaking 10 be bound by any voluntary scheme for iegLJlating fundraisin& or any voluntary standard of fundr3i5in8. We received no fundraising complain15 in the year. Charitable expendiiure reTnains high due to the commiiment to support those who have prewously worked in the Indusrry as well as those who are Curren1￿ employed. Expendiiure levels are expecied to decrease over the next l 0-15 year5 as Ihe indu51ry continues to contr3tt and free reserves ￿11 be LJ5ed to support expendiiure during that period. Public Benefrt The Trustees review the aims. objectives, and actpjities of the Charity at their rneetings throughout the year and confirm Ihai they have regard to the Charify Comm15510n'5 guidanie on public benefit in planning fuiure activity and that ihey have complied with their duty in section 17 of Ihe Charities Act 2011. Further details of how the charity ha5 fulfilled its objects foi public benefit are given in the Aihievements and Performance section of this report. Free reseNes are £8.3m, which excludes restricted and designaied funds and illiquld assets 5 years expendilure based on curreni expenditure level5, excluding regular beneficiary paymen15, 15 E6.1 m. The additional £2 2m held in free reserves Is due to the unusually goc)d return on invesiments seen during the year. The charity Continu￿ to seek add￿lO￿al income stream5, OPPQrtunitie5 for which are relatively low given the niche nature of the charity. Pay Policy for Senlor Staff The management ol the charity is rhe responsibility of the Charirls Trusiees. who constitute the Board ol Direaors. Related. Affillated or Connerted Parties Old Ben Homes (Charity No. 2516291 Trustees are noi remunerated lor their titne and details of TrLJStee expenses are shown In note 9 of ihe ccount5. The pay of Lhe execuiive managetneni team is reviewed annually bythe Budgei and Remuneraiion Comfflittee on the basis of inflation and oiher relevant fattors. Old Ben Home5 is a separate charlLy regulaied by a scheme of the Charity Commissit)ners on 1 Othlanuary 1967. 11 was Incorpoiated on 12th january 2008 and the scheme amended on 1 Othlune 2009. Donated SeThlces From time-to-time irade partners donate èdvertising space and release social media POS￿ displaying NewstrAid a(Jverti5ements free of charge. This contribuiion is included in the financial statement% The NewsirAid Benevolent Fund appoints up to five ol the eleven managing Trustees for Old Ben Homes. each being for a period of three yea[& 15 TRusfEES' RESPONSIBILITIES STATEMENT The Trustees (who are also dlrectors of NewstrAid Benevolent Fund for the purposes of company lawl are responsible for preparing the Tru5tees' Annual Report and the financial Statements in accordance with appllcable law and regulatlons. Company law requires the Trusiees io prepare Financial Reporting St3ndard applicable in the UK financial statemenis for each financial year. Under and Republic of Ireland IFRS 1021 leffective I January thar law the Trustees have elected to prepare the 20151- (Charities SORPI, the Financial Reporting financial staiemenis in accordance with Uniied Standard applicable In the UK and Republic of Ireland Kingdom Generally Accepted Accounting Practice IFRS 1021, the Charities and Trustee Investment (Uniied Kingdom Accounting Srandards and (Scotlandl Art 2005 and the Companies Act 2006. applicable lawl, Including FRS 102 The Financial They are also responsible for safeguarding Ihe assets Repor(Ing Standard applicable in the UK and Republic of the chariiable company and Ihe group and hence of Ireland. Under company law the Trustees MLJSI for taking reasonable steps for the prevention and not approve the financial statements unless they detection of fraud and other irregularitie5. are satisfied thai they give a rrue and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources. including the income and expenditure, of the charitable company for that period. In preparing these financial statements, rhe Trustees are required to.. The Trustee5 confirm that. so far as each Trustee is aware. there is no relevant audit information of which the charitable companys auditor is unaware., and the Trustees have taken all the steps that they ought co have taken as Trustee5 in order to make themselves aware of any relevant audit infortnation and to estsblish that the charitable CoMpan￿S auditor is aware of that information. selec( suitable accounting policies and then apply them consistently. obserye the methods and principles set out in the Charities SORP IFRS 1021., makejudgmencs and accounting estimates that are reasonable and prudenL stace whether applicable UK Accourbting Standards have been followed. subject to any material departures disclosed and explained In the financial 5tatements.' prepare the financial statements on the going concern basis unless it is Inappropriate to presume that the charitable company will con(inue in business. The Trustees are responsible for the maintenance and integrity of the corporaie and financial information included on the charitable companls website. Legislation in the Unired Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other In preparing thi5 report to the Trusrees, who are 150 Directors, have taken advantage of the small companies, exemptions provided by section 41 SA of the Companies Ac(2006. Approved by Ihe board of Trustees on 22nd April 2026. The Trustees are responsible for keeping aclequate accounting records Ihat are sufficient to show and explain the charitable cornpanys transactions and disclose with reasonable accuracy ai any time the financial position of the charitable company and enable them to ensure that Ihe financial statements have been prepared in accordance with 'Accountin8 and Reporting by Charities.. Siatemeni of Recommended Praciice, applicable 10 charities preparing their accounts in accordance with rhe Adrian Hughes Signed on behalf of the board of Trustees. 16 INDEPENDENT AUDITOR'S REPORTTOTHE MEMBERS OF NEwsfRAID BENEVOLENT FUND OPINION OTHER INFORMATION We have audited Ihe financial srstemenis of m￿trAd BeD￿CIent Funcl Ithe'chafitable comparf lorthe year Ènded 31 DÈcembÈr 2025 vthich comprisÈ the StatÈmÈnt of financ￿1 Attiwlie5, the B313nce Sheet, Ihe Statement of Cash Aové5 and note5 to the financ13151atement5. Including4 summary of signific3nt accounting policies The financial reporbng framework thai has been applied In their preparation Is èpplic8blÈ la nd United Kingdom Accouniing Standards. Including Finantial Reporting Sièndard 102 Tho Financial Reportin8 Stsndard applicable In the UK and Repub11c of Ireland Iunired Kingdom Generalty AccÈpied Actounting Pracricel. TheTrusiees are responsible for the other information. The other information comprises information Incl￿ed in the Trustees. Rewrt other than ihe financial staternents and our aucliio¢5 rewrtthereon. Our opinion on the fin3ncial staternen￿ does not cover the other Information and. except to Ihe extent othervwise explicitly stated in our repory we do not expre55 any fi)tm of a55uranie tonclusion thereon In onneaion wth ouraudit of rhe financial staiements, our responsibiliiy is to read che oiher infortn3tion and, in doing so. con51derwhether Ihe oiher Informarion Is maieri3lly IncOns￿lent wth the financial statements. orour knowAedge obtained in th? audit or otheMsÈ appears to be maiÈrialty ffli55taled. If e idÈniify SLKh m4terFI incon5i5tencie5 or ap￿rent fflaterial giv? è truÈ and f8irview of rhe state of the chariiable fflI5518retnent5. we are required 10 determine wheiher this gr¢es rise to a rwierial missiaiemeni In the finèncial statemen compan15 affairs a5 at 31 December 2025 and ol Its Incoming Ihemselves. If. based on the work vwe have perfortned. we rpsources and 3pplic8tion of resources Including Its income conclude thai IhorÈ is 3 matèrial misstatÈmÈni ofthis oiher Hnd expenditure. lor Ihe yearthen ended. have been property prepared Ift 3ccordancÈ véilh united Information. are rèquired 10 report that fèrt. ngdom GeneraltyAccÈpted Actounting Practice." and ve been preparÈd in aCc￿￿an[e with the requirements of thecompanies Act 2￿6, the (￿ritIeS 8nd Trustee Invemment IScotlandlAct 2005 and regulations 8 of the Charitie5A(counts (Scotlandl Regul8rion$ 2006 las 6mencÈdl. In our opinion, the financial sratemenrs.. WÉ havè nothing to reporr in thi5 regard. OPINIONS ON OTHER MAThERS PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion. I￿sed on thework undert8ken inthe coU￿e of the 8udiL BASIS FOR OPINION We conduiied ￿ul oudil In attordance with Inlernarional St3ndard5 on AuditinglUK) IISAS IUKI and applicable18w. Our responsibilitiès under th05e st4ndards are further described In the Audrtorfs reswn51biliries for theaudil of the financial s￿leMen15 Section of our report. We arÈ Indèpendenr ofthe tharitable company in accordar￿e with the plhical requiretnenis itrEt are relevènt to our audit ofthe financial 5ta¥ements In th UK Including Ihe FRC'S Ethical Siafidard. ancl we have fvifilled our other ethic81 responsibilities in accordance with Ihese requirements. We believe thaiihe audit ￿idenCe have obtained Is sufficient and appropriate 10 provide a basis for our opin on. th? information grien in the Trusiees, annual report. which Intlu(Jes the Dire(tor¥ Reportforihe financial year for vthith the financi8151arements are pre￿re￿ Is consisteni wth the financvdl statements. and the Dirertors, Rèportlincluded wthin the Trustees. annual reporcl has been prepared in accordance vmth applicablè leg81 requiretnents. MATTER5 ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In ihe118hi of Ihe knowledge and understanding ofthe charitBble company ènd its enwronment othained the course ol the audii WÈ have noi Idenufied TnaLerial misstatÈmÈni In the Tru5tees' annual report. CONCLUSIONS RELATING TO GOING CONCERN Trustee4 use of the going concem basis of aiiountiTrg in ihe eparaiion ofthe financial siatemenrs Is appropriate. We h3ve nothingto ￿port in fespect of thefollowing matters In relation 10 which the CompaniesAti 2006 and the Charities Accounts IScorl8ndl Regulations 2006 require us to report toyou If, In our opinion-. Based on rhe work we have performÈd, we have not Ideniified any marerial uncertainties relating lo event5 or conLlitions th8 indiwduallyor collective￿, mayc3st signffjicant doubt on the C￿rI￿S èbilityto continue3s a goingconcern for a ￿rI0￿ of at lea5tDNe￿e months from vthen the financial 5tatemenis8re auihor15ed for i5SUe. proper and adequaie 3CCOUnling records havÈ not been kepi. or returns adequaie For our audit have not been received from branches not Visit￿ by us.. or the finèncial statements are not In agreement with the 8ccountin8 records anLI reiurns. or cenain disdosures of Directors. remuneration Specified by law are noi made-. or we have not recÈrrfÈd all the infortnation and explèn8tion5 we require lor our audit-, or The Tru5tee5 w￿re not eniiiled to prepare the financial statemént5 in acCor￿n[e￿ilh the small companies exempiion5 in preparing the direciors. rewrr3nd from the requirem￿1 10 pre￿re a straie8ic reFUrt. Our responsibilities and the responsibilitie5 oftheTru5rees wth respect 10 going concern are described In Ihe relevant sÈrtiOn5 of Ihi5 report. 17 RESPONSIBILITIES OF TRUSTEES These matters were discussed amon8St rhe engagement ream èt ihe planning stage and the learn remained alert to non- compliance throughoul the audlt. As explained more fully In the Trustee¥ Respon%biliiies Statemeni set out on page 16 theTrusreÈs Iwho are alsorhÈ direciors of Ihe charit3ble company for the puiposes of cotnpany lawl are responsible forthe p￿paration of ihe financial 51atement5 and for beingsatisfie(J tharthey 3 true and fair view. and for such Internal control as theTrustees determine Is necessary to ènablÉ the preparation offinantial statements thai8re free from maiÉriÈl misstÈiemÈnt, vlhether duè 10 fraud or error. Audrt prc*edures underraken in responseio the potential r15ks rekitin8 10 Irregularities (which Include fraud and non- compliancewih lavés and rewlaiionsl cornprised of Inquiries of mbnagemÈnr and the TrustÈÈs as 10 v4hÈther the Èntity complie5 With such ￿￿5 and regulaiions,. enquirie5 the sarne concerning3ny3ctual or poiential litigation or claitn5.' inspectlon of rel￿an[ leg31 correspondence, review or TrustÉÈs' meeting minutes. of the finantial statements di5c105ure5 ègreeingto 5UPPOrting dwumenration. tesring the appropriaieness ofjoumal eniri& a55essing si8nificant esiiiNtes andjud8emeni made ty mar￿geMent lor b￿8. and rhe performance of anaWc81 revie4vro Identify uneKpectÈd movèments in account balances which may be indicatfft of fraud In prepanng thefinancial 5tateryentS. theTrustees are responsitrAe fof assessing Ihe charitable companls 8bililyto Continue 8$ a going concern. d15c105in& as appliiable, fflatte rekted to going Concern and vsingthe goin£concern b3sis of accounting unle55 theTrustees e￿her Intend to liquidate the haritable company or ro ce35e operaiions or have no realistic aliernative bui to do 50. AUDITOR'S RESPONSIBILITIES FOR THEAUDIT OF THE FINANCIAL STATEMENTS We h3ve been appointed 3s audfftor undÉrsettion 4411Xcl of the Charitles and TfUSLee InvÈsimÈnt IScoUandlAct 2005 and under the Cornpanie5 Art 2006 and report In accordance with the A(t5 and rdevènt ￿gU￿tionS made or hawng effectthereunder. No instances of material non-cornpliance were IdentiFieLI. However. the likelihood of dete(ting Irregularities, Including fraud. Is IimiLed bythe inherentdifficuty In deieciing Irregularitis the elfecEwenes5 of the entity5 controls, and rhe naturÈ, timing and extent of the audit procedures performed. Irre8ul4ritie5 rhai resull from fraud tnighl be Inhefently more difficuk to detect Ihan Irregukrrties that fesull from error. AS exp131neLI 3bove. Ihere Is an un3voI(tsblÈ risk that noterial misstaiemenis mèy not bÈ detected, Ehough rhe audii has p￿rnned and performed in accordance 4vith1&4slUKI. Our objeciiwes are to obtain reasonable assura￿￿ a￿￿1 whetherthe financial statements a5 a whole are free from material missièiemeni. whÈihÈr due to fraud or error. and 10 Issuè an auditorf5 report that Includes our opinion. Reasonab a￿￿(anCe ts a high level of 3ssurance bui 15 Dot a gubr8ntee that an audit conducted in accordance véith Is￿ (UK)￿1[ always tnaterial rnissiaiemeni vthen It exists. Misstatetnents can anse from fraud or error and are considered maEÉrial rf. individually or in the 8ggrÉgatE. they could reasonabty be expected to InfluencÈ the Èconomic deci510n5 of users t£ken on the bèsis of rhose financial S￿rementS. Afurther de5CriPlion of our re5ponsibilrties for the audit of the fin3niial statements Is Ioc8ted on the Financial Reporting Councifs website 8t hiipsJiwbw4frcorg ukl auditDrsreswnsibilities. This description form5 part of our auditoffs rep)rt. VSE OF OUR REPORT Irregulan(L￿. Including fr3ud. are Instancès of non-compliance with laws and regulations. We design procedure5 in line with our responsit>ililies. outlined 8Oove. ro detect fflarerial missr8tementS in respect of irrÈgularrties, Induclin8fraud. The exientto ¥vhich our procedures are capable of deieciing irregularitiès, Including fraud is derailed below. This report Is m8dÈ Sole￿ its the CharIta￿e Cornpanls members. a5 a body, in accordance wilh Chapter 3 of Part 16 of chÈ Cotnpanie5 A(t 2006, and 10 the CP￿rIta￿e Cornpanlstrustees as a boty, In acCOr￿n(e with Regulation 10 ofihe CFFroies Aciounts1Scotl3ndl Regulation5 2006. Our audit has been unLlert8ken so Ihai WÈ might state to rhe Charrtable Companls members and IrusiÈes those marters we ale requirÈd 10 Slate rotheffl In an audirorfs report and for no oiher purpose. Tothe fu11È5r extenr permiited by law. we do not èccept or 355ume responsibility 10 arhyone other than thÈ Charitable Company, the Charrable Cornpanls membèrs a5 3 body and the Charita￿e Compan¥sTrustÈÈs Ès a body, for our audit ¥wort forihis report or for theOpin￿n5 we h￿e forrTEd. Dixussions were held wih. and enquirie5 tnade of, m¥Dagement and Ihose charged wlh gthernance with a viewio ioentrfying those lèvts and regulations that coul(1 be expected to have a material IM￿r( on the financial statements. Sed on our disiussions ￿1th thè chariW5 management and those charged Ywith governance. we ideniified that ihe following laws and regulations are si8nific3nt toihe entity.. Those laws and regulaiions considered ro have a direct effect on the finaftcial stateTnents Include Financ131 Reporring siand8rd applirable In the UK8nd Republic of Ireland IFRS1021, the Chanries SORP IFRS 1021, Chariiieskt 2011. Jan Rlckler Isenlorstatu Companie5Acc 2006 and the Charities and Trustee For and on behalfDfAwns LLP Inve5trnent (Scotlandl Art 2005. Chartered Accountants. StaiutoryAuditor Those lawts and regulation5 for which non-cornpliance may be Crown House. 151 High Road, L￿ghtOn, E55ex IGIO 4LG fundamental to the operatin8 aspects olihe charitable companyand rherefore may have a material effecr on the amount ordisdosures In the financi31 siaiement5 for ex3Tnple through rhe Irnposition ol fines trr litigations such 85 UK 13X legislation. Healih and SafetyACt 1974, Data Protection A 2018, Employment Righ￿A￿ 1996 3nd the BriberyAct 2010 Oate.. 18 NewstrAid Benevolent Fund srATEMENT OF FINANCIAL AcfiviTIES Ilncorporating an income and expenditure account} For the year ended 31 December 2025 General Vnrestrlc¢4d De¥l8nat¢d Re5trirt*d 2025 Total 2024Totsi Note Income Donations and legacies Income from othertrading aciwiDes Investment and other Income 378.416 1,153,299 462.746 4.OTI 381493 1.153.299 461746 382.395 1200,144 431,821 Total IrKorne 1.994461 4077 I.9￿$3& I014360 Expenditure Costs of raisingfvnds and other income Cosrsof char￿table actmtles 565,175 1.155.207 565.175 567,225 1281.393 Total expendlture 1.720382 1,81&986 1.84&618 Net ineome bÈfort othv reco¥ni¥ed sain¥ and lo￿5 Realised galnlllos5lon dlsp05al of Investments Unrealised aln on revaluatlon of Investments income 274.079 19152n 181.552 165.742 2&978 1.294.225 1 J%282 26.978 1,294,225 1501755 170.OSSI 740,128 835.815 1915271 Gr055 transfers betV4een funds Net movement In fund5 188.175 1.781457 1188.1751 (280.702) 1.5017 835.815 Reconclllatlon of lunds Total fvnds brou8hiforward 6,489,884 8.06ZY4 14552,428 13,716.613 Total ffundscarrltd forward 8.273.341 7.n1M2 16.05&183 14551429 The statementof financial èdvitles indude5 all gains arid1055es Tecognised in the year. I ￿nCOrne and exper¥Jiiure derwefrom condnuing act￿tieS. The note5 on pages 22to 30 forrn part of these finoncial statew￿nt5. 19 NewstrAid Benevolent Fund BALANCE SHEEr as at 31 December 2025 2025Total 2024Total Flxed assets Inrangble as5ers Tangble a55ets Investments 1744 11.281 3,922 15.915 13 16.010.975 14.535,583 Ygtal Fixed As¥¢t¥ 14J55.420 turrent asstts Debiors. prepayments and accrueé Income Cash at bank and in han 14 156,515 149,656 142,988 177.886 Totsi Curr•ntA$5ets 334.401 Uabllltles Cre(titors falling duewithin oneyear Net current assetsiui•bllltbÈsl 1305.2181 1295.6361 29,183 11992) Netassets 16.054183 The funds of the charity.. Unre5trlcred funos DesSgnated funds General funds 7.781,842 8,06Iy4 1778,927 5,494,414 1289.695 4,200.189 Inve5trnent galnsfund 8,273,341 16,055,183 6A89.884 Total Iharlty funds 18 14.552.428 These financial 5tarements have been prepared In accordance wth the special provisions of Part 15 of the CompanlesAct 2006 relating tostnall cornpanie5. The note5 on pages 22 to30 form part of these financial statements. The finèrKial statements on pages 19to 30were approved bythe Trustees and authodsed for Issue on 22 Aprll 2026 and stgned on thelr behalf by. N¢il Jasser Chief Execuuve Officer Adrlan Hu8h*s Direttor Cofflpany re8lstered nuM￿riSO5973￿ English chartyregi5¢ereO number ￿ 1116824 Scottish char¢yre8i51ered number IsSC03877S 20 NewstrAid Benevolent Fund srATEMENT OF CASH FLOWS For the year ended 31 December 2025 2025Total 2024Total Cash used rat •ctlvltles 117&1391 1249171 Cash flow5 from Invtstins artivities Inve5rment and interest income 461746 431021 Purchase of intangible fixed assets 11O641 {2,8381 Purchase oftsn8ible fLKed assets 115811 13.7881 InvesrmentA(*Jftions 1361,$321 1628,0481 Inve5ttrFent Di5tx)sal Proceeds 114,268 371.059 Cash gener•ted by Inves￿A8 arthtrlles 211.037 161205 Increaselldecreaselin ￿$h in theyear 34A98 C35h at tfÈ beglnnlngofthe year 141988 208,699 Total (￿h •t thtthdof th• ar 177.816 141988 The notes on pèges 22 to30 forrn part of these finantial statemen 21 NewstrAid Benevolent Fund NOTES TO THE FINANCIAL sfATEMENTS Forthe year ended 31 December 2025 The prin lac1&uDtingpd￿￿sadopted.1tsd8Mtnts and key 50UTce5 0 uncertalnty In the prepar*i*n ofthèfl￿athda1 5tatementsarea5folloY￿'. 1.Accountln8 Pollcl•s Basls8{eOpp1i2dt0 Volunreers Thevalue olseM¢es prwded byvoluntèers ts notin[￿Porated Intothe5e rinaniial statements, In accordancewilh the Charities SORP Fu￿her detsi of thÈ£ontrlbut￿ft made tythevolunteerscan be [￿nd ￿ ihe Trusiee5 Annual Repoii Voluntsry Inco[r￿ Is recefved byway of donatKinsand ￿ftS and IS Legoryincome 15 recognised In the accounts¥vhen there Isa certaintyof ThechartycOntribut￿ io a defined contnbution pe￿iDn scheme The 355ets ofthescheme are held sepafatety from those 01thèc￿￿r￿Y In aft Indepèndenttyadminisrered fund Operatlng Lease Reniak ptyable under oper*ing￿a$es are (haryd iothe5Memeni ol On reieipi of Ihegits In kind the Incorne IS recognisedon EhÈ basJ%of Ehe value olthegft tothe thartywthKh isthe amouni chartywould have beèn willinE LO pawio obtainihegift of equivaleni eionofflic benefft on the open market. a correspondin8amUnl IS Ihen recognised in expenditure In Ihe penod ol receipi Investmeni Income IS generaiÈd tyal￿den0 and Iniere5t InCQTnefr our pTrrtfolio3rhd 15 a(iounied for on a recetyaI￿e basis Interesi Is aÈo earned on WOTking capr(al held In deposit accouni Income fromlotteiies3nd events ￿ Includedgrats ￿ iheaccoun a¢(ouDrjng for boEhrheincome and expenditure 5eparaiety- FuThdsStNLture Designaitd fund5are unrtsrriiied fun055et aside tylheTrustees lor p3rticularpurp05es Al otherfunds are unrestrietedfundswhlch the TrU￿ee5 are freeio usefor atypufposè In lurtherarKeofrhe charity5 obiErtS Exp*ndhtur• Experhdiiure 15 accounted for on an aicruals b￿15 and re(ognised once there 15 a legal or Con51ru(ti￿￿b1i￿ts0n1o make a ptyvhenrro 4 thir party, It IS prob3bk thai se￿lemen1 WJN berequired and rheamountol Ihe ¢bhgaiion (In be mea5uied re1￿bfy. The maioriLy olcosis are d￿eCtI th the Itemofexpense tO¥vhlch It relates. Support costs are re-alocaied io fuThdraiSingeveni$4nd ¢haritiileiawiDes based on ￿aff time attribu[a￿e ioeach aumty. The bases on suppw Co￿$ hive been all(Kated are sei out ID noie 8 Governancecosts arethe ¢9515 O550oaied ffth the govemaDce arrangÈmefiisofihe charrty arbd are alh(atedt05UPPOTtcosts. Inta•)glbleA$5ets oiher Inian8ible a55ets (ons15rs of tt 501tware and haga finrte useful lrfe tnea5ured ai cost lessaiiumuL*ed amOrt￿tIon 3ndanyac¢umuL3red Impairment Sub5equeDteyenditure Is captsiised on when IT Ifhcrea5e5 the future etonomi¢ benefits emb¢￿1£￿ iTrthesp2ci Ca55ettOsthich it reL41es NJI oiher expendr(ure Ls re(ognised In profft Or1￿ as Incurred Prèparadonof th•ACtOutllS•n a Going con4nd £80.0fy)12024.. Two employee5 earned bemeen £80.￿ and £W,OOOdurltig the year, and one employee eamed beM*en E70.CQO and £80,0(K)I. The pengon contributions paid bytheiornpanywith regards to these employees was £3,395 (2024.. E3.2801. The key rrianagemeni personnel of the tharty, comprise the Trustees. the Chief Exeiutive Officer, Finance Dirertor. Welfare Manager. Operations Managerand Engagetnent & cornmuni￿tions Manager and EA to the CEO. The total empltsyee benefits of the key management personnel ofihe charltyV4ere £379,4(M)12024.' £382.8061 The tyustees recelved no remunetation in iheyear. The awerase weekty nurnber of empleyees duringthe yearwas as fello¥vs'. Number Number Head Office full time equivalent Head Offiie total head count 11. Intan8lbleAsse¢s Cost At 1 lanuary2025 A(IdiDons At31 l>etember2025 2%203 1.864 Atnort15aUon At 1 january 2025 Cha￿t foryear At31 December 2025 21.281 2,042 Nei Book Value At 31 December2025 3.744 At 31 December 2024 11 Tanwble Assets Offitt Fixings Computer Furnl¢urtand Equipment Qqulpment Total Cost At 1 lanuary2025 AdditiQn5 Di5PD5als At 31 De£ernber 2025 4226 31,381 2.581 15.2751 28.687 35,EQ7 2.581 15,2751 31913 Depreciation At 1 lanuary2025 Chargeforyear Di5P05als At 31 December202S 3.313 229 14379 6A59 14.7481 18.1)90 19,692 6.688 14.7481 21.632 Net Book Value At31 Oecember 2025 10.597 11.281 At 31 D¢tember2024 913 15.IJDZ 1S915 11 Investments Quoted irwestments Market value at 1 january Add￿0￿5 Disposal proceeds Gainlllossl on dlsposal of investTnents Unreallsed gai Movernent In cash held Mwrketvalut It 311)4¢4mb•r 2025 Totsi 2024Tofol 14,535,583 13.620.361 361.532 628,04B 1114.2681 B71,0591 26,978 170.0551 1,294.225 740.128 193.0751 111.840} 14010.975 14535,$83 The following investrnenrs are hdd excess of 5% ofthe totsl inve5rrnenr portfollo value. 2025Tot•l 2024Ttst•l RATHBONE UNIT TRUST MANAGEMENT 16.010,975 10(Y¥J 14535.583 14 Debtors 2025Total 2024Total Trade debtor5 Other debtors Prepayments 71969 23,982 59.564 156.515 69.594 24.454 55.608 149.fj6 1% Credltors Duewlthln One Ye)r 2025Total 2024Total Trade creditors 9.528 191.207 11748 91,735 305,218 6.520 189.778 11917 86A21 295.636 Othercreditors PAYE and pensions Induded wthin i)ther Iredit0r5 15 an arnountof£S,93412024- £5,934) in relatson low Starfins a fomier residenrof 8arneston Court Care home. This amount15beln8 held pendln8cofflpletbn of W5tarlln85'5 probaie. 16. Inv¢strnentsB•l￿fvDdS 2025Total 2024Ttstal At 1 january Galn In year At 31 De£ember 4,200.189 1.294.225 5.494414 3,460,061 740,128 4.200.189 17. Analysi¥ of net a5xts between funds 2025 Total Unrestrlrted DÈsi8nated Funds balances at 31 t>ecember2025 are represented by. Intangible fixed assets Tangibltfixed a55ets Inve5tTnents 3,744 3,744 11,281 &229,133 334.401 7.781.842 1&010.975 Current assets 334.401 Cre(JitgTS.' arrK>unts falling duewiihin one y*ar (305.2181 1305,2181 16.055.183 8,273,341 7.781,442 Unr¢strlrteil DeS￿ated To¢•1 Fund5 balance5 ar 31 December 2024are represented by.. Intbngib1e fixed assets Tanwble fixed a55et5 Irwe5ttnents 3.922 3.922 15,915 14.535.583 6A73.039 8￿62,$44 Current assets 292.644 292,644 1295.6361 1295.6361 6M9.884 &061544 14551428 Creditors.. amounts falling duewithin oneyear l& An•tysls of Ch•rft•ble Funds Brought Forward Unrealised Aealistd Gain G•in Income Expendlture Tran5fer5 ¥J25 2025 Deslgnaied funds ACE 4,077 15,9251 190.6791 Legacy intome Re8uLarbenefrt comrnitment Total desfignated fun¢ts 411.259 7.651,285 8.061514 320,580 7.461.262 7.781.a42 1190.023) 1188,1751 4077 (96.6041 General fund5 Total genval fvnds 6.489.884 1.994.461 11.720.382) 1.294,225 6.489,8B4 1.994,461 11.720.382) 1294,225 2&978 24978 188,175 188.175 8,273.341 4273341 Totsi funds 14551428 1.9x538 11A1&986) 12y225 24978 14055.183 BrtyJ8ht Forward UnrulSsed Reallsed Intomt ExpÈAdlturÈ Trans￿r5 2024 Re5rricred fundslane Steele Total r•strkt•d fvnds 48352 48,352 148.3521 14&3521 Designated funds ACE Legacy Incorne Regular benefit comrnitment Ttst￿ des a¢¢d fvnd5 4885 17,8751 1100.9251 512,184 6.627.820 7,140.IJ04 411.259 7,651.285 8,061544 1,023,465 1.02A855 General funds Total general funds 6.528.257 2.009.875 54257 1009.875 11.739,¥181 740.128 170.0551 1978,5031 7aJ.128 ￿0.055> 1978,5031 6,489.884 6.489.884 Ttst￿ fvnd¥ 13.714513 1014360 11.848.6181 740.128 170.0551 14551428 Purposes of Restrftted Funds The 2024lane sieele restrlcred fund was set up using legacyfund> Itwas used forgraniing interestfree learts forhorne itnwovements to benefitiaries,to be repaid on the sale of the property. The charity is no longer able to loan rnoney dije io Financial ConductAuihorlty Reguktions, and It was subsequenty Identified ffotn lookingat historical information. that there was nevera fortnal Te5triction placed on the legacyand thefijnds Should have been rreated as designatsd as opposed to restrirted. AfterCorre5pOnden￿ wSth the Charity COMMIS￿On and approval from the Tru5tee5, the funds wEre transferred te general funds. Purposeof Desl8n•tgd Funds The ACE Children's fund finanies the annual childrerfs Christmasgrant pald Sn Decern￿r. The deficit on thelund is made up from the V￿lfare bud8ei on the 31 Decembereachyear. Legacylncorne relates 10 funds bequeathed to NeknY5trAld In the ￿11 of the late Harry Hammond. The funds are dvallable forgeneral samaritangrans. The regular benefftcomrnitment represents money designated to support the chartys regular benefKSarle5. who recewe payrnents three tlmes a year, for their retnaining expected Iwes. Unreallsed yins The InvestmentgaSn5 represent the amounr bywhKh Snvestments exceed thEir Iystoriial c05t. The General Fulld5 arethe free reseNe'afteralI￿￿ngfor all designatèd funds. 19. Ptnslons The charitycontributes to a defined contribution scheme which Is avallable to all of the chariws employees aged 22 years and over. Contributions are Iharged to Statement of FSnancial Acthwties as Incurred and there were no out5tandingor proposed contrlbutions ar the balance 5heetdate. Pen5ioncost5 inthe yedrwÈre £16,52712024'. £13.348 l and the amounrsoutstandingaitheyear end were £nll12024.. £nill. 20. Fin•ntial Instruments 2025 Tot•1 2024Totsl Financial assets measured atfairvalue through profit or l<)55 FI￿ncial assets measured atamonised cost FI￿n￿￿ IlabllStks measured at amortised cost 16XIIO.975 14535.583 269.376 231.575 1213A831 1209,2151 Financial a55ets tnea5ured at fèlr value through profft or loss comprlses quoted investments held as at 31 December 2025 (note 131. Finanoal assets rneasured ai arnortised cost compnses toial current asseis le55 prepaynEnt5 andlane STrele loans (note 74}. Finaniial liabilitiesatatnort15ed c05tcompri5e5 Creditors due in less than oneyear le55 accruals (note 151. 21. Operatlng Lease C(wnmltrnents Operatlng leases whlch explre.. Wlthln one year Betr￿en one and fiveyears rfwe years Lartd and bulldlngs 2025 Total 2074Totsl 36,120 110,735 36,267 144,480 2,375 2025 Total 2024Total Within oneyear Between one and five years 4,925 5.607 10.663 21 Aelated Party TranMrtbohs There were no iransaction5 wlth Old Ben Homes and no tranS￿tIonS in the prewou5 year. Page 15 pmmdes T￿L￿e information regardingihe relatlonshlp between Newstr￿d Benevolent Fund ènd Old Ben HOMÈS. Duringtheyearthe amount recewed from Trustees and associaied rekted parties amounted to £60,01512024-£632401. The iotal amount pald to related parties £7.51612024- £11,249) was made up ofr. £4,80012024- £6.6WI pald to Newtr3de Medla. a company which Parin Gohil Itru5tee}15 the Manawng Dlreaorof. for multlple pub15cations PTomotingthe support aVailab￿*T0￿ the charty to potenual benefi