Th• Sanlta M8raJi Trugt Charlty Number 1125967 Tho Truslea$' knnual Roport and Flnan¢ial Statements lor th8 year gndod 31st March 2024
The PAnlta Merall Tru8t Report and Flnancial Staloments for th8 yaar end8d 3181 March 2024 Contents Pag6 Legal and Admlnlstrative Informatlon Report of th8 Truste6S Report ol the Independent Audltor Statement of Flnancial Actlvlti&s Balance Sheet Notes to the flnancial Statements 10-14
Thè Sanfta Merall TN8t Legal and Admlnlstrntlvo Informatlon for the &r •nded 31st March 2024 Trustee8 . M G Merall The Towers, Sandygata Road Sheffbeld, S10 SUE N Marall The Towers, Sanctyoate Road Sheffleld. S10 SUE F Hlcks Ennerdale House Sleep Lane Bristol BS14 ONQ S England Spring Villa. 136 Langsett Road South Shefflald. S35 OHA 1)ttl. 2211 WhStham Road Sheffleld, S10 2SP Audltor: Johnson Walker Horlzon House 2 Whitlng Str88t Sheffleld, S8 9QR Bankor• .' Yorkshlre Bank PLC 139 The Moor Sheffielcl, S13LW Barclays Bank UK PLC PO Box 16275 Birmlngham B2 2XD Solldtor• . Banner Jong8 Abbey Housè Shefllgld, S12GY
Tha Sonlta Merall Tru8t Report ol the Truslee¥ For the year onded 31 March 2024 Roport ol tho Trustee$ for thè porlod ended 31 March 2024 Th9 Trustees present their report wlth Ihe accounts of The Sanlla Merali TTU8t for the year ended 31 March 2024. Th8 Charty accounts comply wlth the statement of Recommended Practlcè ISORPI issued in 2015, olher Current statutory requlr8menls. and tho requlrem8nls of tho TrurA Deed. Slriiclure, Qovamance and Monag•m•nt The charty was croa16d as a charttable twst gn 19 Saptgmbar 2008 and is controlled by Its goveming Instrument a d88d of trust. Th& curr6nl truste88 arè as lollow8: Murtaza M8rall Nimah M8rali Farah Hicks Slmon England As set out In the aov8mlng document addltlonal Trustees can appointed by resolution of the Trustees. AS at 31 March 2024 the Charity dld not employ any staff. Obloctlve• •nd Acllvltl08 The obl8Cts ol The Sanita Merall Trust ara lo promote suoh pur[m89 belnp excluslvèly charitable accordlna to the law of England and Walas as the Trustees shall from lime to tlme determlne. In partlcular, but wllhout 1Smltlng tha d18cretn of the Trustees to promot8 8uch purposès as they d8om fil, such purpose8 wlll includ6.' The support and advancemenl Df madlcal research and communlty facili1188. A corè interest of th• charlty Is to facllitat8 the piogresslon of Cancer re$•arch and ¢ar8. The lattor obleclive refers to the charltY8 Inleregt In the Improvamant of communlty facllitlas to onsure indusivlty lor all member8 of socigty. Thg ways In whlch Th8 Sanlta Merall TruBt fulflll8 it8 obl8cIIva8 ar8 by. Selecting arKI supporting Hoslital lundralsing programs Supportlng dlstance leaming proJect6 Identlfying and supporting prol8cts benellllng dlsadvantaged members ol thè community. ASsmnt of publlc benefft The Trustaes have complied wlth the duty in Part 1 Chapter 1 $4 of the Charitlas Act 2011 to have du8 regard to publlc benolit guidwK8 wbllshed by Ihe Commisslon. The Tru8te6s havè had regard lor tho guldellne8 when revlewlrKJ tha Charivs alms and ObjecteS and In planning for luture acllvitlas.
The Sanlta Marall Trusl Roport ol the Ttruslees For tho ar ended 31 March 2024 Achlevemenl8 and p8rforman¢o Durlng the current year Thè Trust has contlnued to support local projects and local charltles on a regular basis and consldor Ihat although thelr targets for tha Ye have r8duc8d that tho perlormanc8 of the charily has been satlsfactory In the current market condltlons. Flnan¢lo1 Rovlew DurlNJ the financial yaar, VJS0,216 was rece1v In inv8stm8nl Inoome from r8ntal proportles. all ol whlch is unrestricted and a further £12,000 was ra¢9ived in donations. Th& total axpgnditure for Ihg year was £170,269 and granls madè tolaled 275.010.0 Tra Charlty ended the y8ar wlth a surplus of £152,756 and reserves of £2.980.463. Rosorns pollcy The unrestrkbj Fund repres&nts the unre6trlcted lunds arfslng from past operating results. The Tnjstèas are satlslled that tha balance of thè Fund 18 an aocaptab16 level ol rg8eNè8 glven tha nature of revénue recelpts aglnst grants payable. Rl$k managomanl Careful controls arg in plac8 to monltor the 18vel of borrowlng. Thè trustees have fixed the cost of borrowlngs In order to maxlmke the potontlal of tha rental Irwme and keep a and keep a Ilght control on resources, Plans lor futur8 rIod9 Tha Irustee8 plan to continu8 raising fund8 for projects in Iln8 wSth the trust deed and pur8ug th0$8 obl8ckns and prolècts with all the r8sourcas available to thè charity 81atem•nt ol Trusteos Regponslblllllo8 Charity law requlres Iha irustee8 to prepare financlal statem8th5 for each financlal year which givo a true and falr vlew ol the state of affalrs of tho charlty and ot th8 surplu8 or deficlt of the charlty for that perlod. In preparlng th089 flnanclal staloments, the Iruslees havo: sel8cted 8Uitabla acwuMSng policlas and then applled thèm conslstsntly; made judgm8nts and estlmates that ar8 rgasonable and prudent; stalod whether appllcabl8 accountlng slarKlards have been followed, sublecl to any materlal departures disclosed and explalnad In the Ilnancial 8tatemants; and pr&par•J tha flnanclal statèments on the golng concern bas[8.
The Sanlta Merall Tru Report of Ihe Tru8tse8 For the year ended 31 March 2024 The truste9s have overall responsiblllty lor ensuring that thb ¢harity has approprlate system of controls. financial and otherwls9. They aro also responslbl8 lor keeping prop8r accountlng records whlch dlsclose with reasonable accuracy at any Ilme th8 financlal posltion of Ihg charlty enable them to ensure that the fSnanclal statemarts comply wtth Charlllos Act 2011.Thèy are also rpOnSIble for safeguardlng thb assets of tha charity and h@nc8 for taking reasonabla stsps for Iha pr8V8ntion and detecllon of Iraud and other Irr8gularltl8S. In so far as the truste&s ar8 aware: thére Is no relevant audit infonnatlon of whlch the charlvs auditors are unaware., th8 irustee8 hava taken all steps that they ought to hav8 taken lo make themsofv08 aware of any relevant audll Infonnatlon and to establl8h that the audhors ar8 aware of that Inlomiation Thls report was approved by th6 ard on 29 January 2025. N. Mèrall (Trusteg)
The Sanlla Mèrall Trust Inthpendent Audltorf8 Report lo the Tru8teos of The Sanlla Merall Tr Oplnlon Wo have audit8d the flnanclal statements of The Sanita Merall Trusl for thg year ended 31 March 2024 whlch comprlse thè Income Statement, Statement of Flnan¢ial Position and notes to ihe flnancial statements. InclLKllng a summary of significant accoumlng polici88. The flnancial reportlng framework that has been applled in thelr preparatlon is appltcabl8 law arbj Unitecl Klngdom Accounting Standards, Including Financial Reportlng Standard 102 Th8 Financial R8POrtlng Skndard appllcablo in the UK and Republic of Irèland (Uniled Klngdom Gangrally Apted AccountirvJ Practlcel In our oplnlon the flnancial statsmènts: give a truè and falr vi8w of tha stal8 ol th8 Trust's affalrs as at 31 Mah 2024 and of fts Incoming resources and appllcation ol resources. including Its Income and expaThYllure for the year then ended. have been proporly prepared in accordance wlth United Kingdom G8n¢rally Accepted Accountlng Practice". and have been prapared in aceordanca with iha requirements of tha Charftles Act 2011. BaJl¥ lor oplnlon We ¢onducte(l our audit In accordance wlth Internatlonal Standard$ on Audlting (UK) (ISAS UK)) and appl118 law. Our responElbllllies under those standards ara lurther d88crlb8d In the Aud]tor'8 respon8ibllltle8 for the audit of the flnanclal stat8mgnls section of our report. We are IrKl8pendant of the Iru8t in accordancewiththaèlhlcal requirernentsthatarerèlevantto our8uditofth8financia16tatsm8ntslnthe U.K. including th& FRtts Ethical Standard , and we hav& fullilled our oth8r èthlcal rasponsSbilili@s In accordance wSth wllhthe88 requir8ments. Webelievethatlhaaudil8viden¢ewe haveobtainod18sulflcienlandapwoprlatatoprovide a baBis for our oplnlon. Con¢Ju81on• rolallnq lo golng We hava nolhlng to report In re8pecl ol the followlng matters in relallon to which tho ISA8 (UK) requlre us to report lo you whor8: the Iru8tees' use ol the golng concem basls of accountlng In th6 preparatlon ol the financlal Statements 18 not approFrflate' or th8 trustee'B have not dl6clo8ed In th8 Ilnanclal 8tatem8nt8 any Idontllled malerlal l uncortalntle8 that may cast signlflcanl th)ubt alt the charltvs abllty lo contlnue lo adopt tha golng concern basis of accountlng for a p9rlod of at least twelv6 months from the date when the flnanclal stalgmènts are authorfsed for Issue.
Thè Sanlta Morali TN81 Other Informatlon Th8 trust88s aro responslble for Ihe othèr InformaOn. The oth8r Infomilon comprfses the informatlon Infonralion Included in Ihe annual report. other that the flnandal statsments and our audltor's rfjport thereon. Our oplnion on tho linanclal statements does not Ver the other infomiatlon and. excfjpl to tha extant otherwise expllcitly statèd In OUT Teport, we do not express any form of assurance concluslon there on. In connection with our audtt of lh8 Ilnanclal stalaments, our responsibllity is io read the other Informatlon and. in doing so, consider wh8th8r the 0th6r informatlon 18 matarlalty inconsistent wilh the flnanclal statements or our knowledge obtaln8d In tho audlt or otherwise appears to be mlsstated. If we Idenllty such materlal Ineonslslencles or appar9nt materlals mlsslatern8nts, wo ar9 required to detennine whher there Is a material mls5tatement in th8 flnanclal statgments or a materlal misslatemgnl of th8 Other InfoatiOn. If. bas8d on tha work we have p8rformgd. we conc1La that thore 58 a th8 fact. We hava nothlno to report In thls regard. Oplnlon on other mattors praacrlbad by Iho Chorllles Acl 2011 In our oplnlon, based on the work undertaken In the course of the audh: the Informallon giv8n In the truslee8' roport lorthe flnanclal year forwhith the fln8m¢lal statements are prepared Is conslstent wlth the flnancial statements., and tha tru8te8s' report ha8 been prepared in occordance with appllcable requlrements. Mqllora on whlch w• aro requlred to report by •XptIOn In the Ilght and knowledge and urKlerstandlng of tha trust and its envlronmenl obtaSned In Iha cour8e ollhe audbt course ol the audtt, we have not Identitled mat8rlal mlsstatemant8 In tho truste89' repoit We have nothing tr> roport in respo of the following matters In r8latlon lo whlch the CharitleB Acl 2011 raqulras us to report to you, rf in our oplnlon: athquatè ac¢ountlrKJ records have not béen kept, or returns adequate for our audlt hav8 not been recelved from branches not vlslted by us,. or the flnandal 6tatamonts are not In agreement wllh th8 accounllng records and returns; or certaln dl8clo8uras ol truslees, remuneratlon spéclfied by law are not made; or w8 have not r8celved all the Informatlon and explanatlons we requlre for our aLKlit ReBpoMlbllltlo8 ol a trustee As gxplalned morafully In the trustees. r8sponslbllities statement. th8trustses are rgsponsible forthe preparation of the financlal statsments and for b81ng satlsfled that they glve a tru8 and falr view, and lor such inlèmal onlrol as tha trust6è6 determlne Is n8c6s$ary to enable the preparatSon of tlnaneial statements that are fro8 from materlal mlsstatament, whether dua to fraud or error. In preparfng thè flnancial statsrnents. thè trusteos arg respon8lble for assèsslng the charitys ablllty to continuo a5 a going concern, dis¢loslng. as appllcable. matt9rs related to going concem and uslng the goina concern basi5 Qfaccountlng unl8SSthelrusleg8 eilherlnlendtoliquldatethe charityorto¢eas8operatlons. orhave no realistic alternailve Lxrt lo do so.
Th8 Sanita Marall Tmsl Audltor'g responslbllltles for Ihe audlt of Ihe financlal gtalèments W8 have bè6n appolnted as audltor undgr Yectlon 144 of th8 eharitlos Act 2011 and raport in accordance with regulations mad8 under sectlon 154 of that Act. Our oblectfves are to obtaln reasonable assurance about whether the financial statamants as a wholo are fre6 from materlal mlsstat8m8nt. whether due to fraud or error, and to 188U8 and auditor's rèport that includes our oplnion. Reasonabl8 assurance is a hlgh level of assuranc8, but It18 not a guarantea that an audit conducted In aecordancg wllh ISA's{UK) will abNays detect a matsrial misstatement when it exFsts. Mlsstatements can arlse from fraud or 8rror and are ¢onsldered malerfal If, individually or in aggr8gal8, they could reasonably eXtj to Inffuenc8 tha ècorwjmlc decisions of users taken on th8 ba818 ol thes8 Ilnancial statements. A fvrther descTlplion of our r6$F)onslblllllas for the audit of the flnanclal 8tat8ments18 located on tho Flnanclal Raportlng Council's websll6 at: www.frc.org.uklaudltorsresponslbllltles. Thls descrlption forms part of our of our auditorfs report. Wo communlcate with those charged wlth gov8manco regarding, among other matters, Ihg planned Scope and tlmlng of the audlt and 81gnfflcant audll flndlng#. includlng any signiflcant defkiencies In Internal control that W8 idantEty duri our audlt. U8• of our r•port Thls raport Is made solely to the charlly's Iru8tee8, as a body. in accordance with sectlon 144 of the Charllles Act 2011 and rogulations made under sgcllon 154 of that Act. Our auolt wort( has been undertaken so that we mlghl slal8 to the Irusl8es those matters we are requir8d to state to them In an auditors report and for no othgr purpose. To thé fullost extent permhted by law, we do not accept or assume respon8ibility to anyone other than th& trust and tha trustses as a body, for our audlt work, for thls report, or for the opinions we have form6d. Johnson Walker, Statutory Aud5tor Horfzon House S8 9QR 202£
Th8 Sanlta Merall Trust Statom8nt ol Flnanclal A¢ttvitie8 lor the y8ftr ended 3181 March 2024 2024 (Unrestrict8dl 2023 IUnr8slricted) Income and endowmants: th)nations Investm8nts 12,000 37,491 336,317 note 2 Expondlturo on: Raislng Funds Charltable actfvltles nots3 not8 8 170,269 179.981 245 279 183211 Net In¢omo betor• Invo8tmont proflt 116.937 190,597 galng and lo¥¥e8 on woparty Inve8tm•nl* Unr8allsed profit Ilossl on revaluafjon of investment properties note 7 35,819 N81 Incomo 152,758 190,597 Fund Balanca brought loard 2 827 707 2837 110 Fund Bolanc• earrlod fornT4rd The statern8nt ol flnanclal aclivlilos Includes all galns and lossès recognlzed In the year. All Sncome and expenditure as staled abjve arl88 from continulng activiU•s.
The Sanlta Morall TM8t Balan Sheèt A¥ qt 31 March 2024 2024 {Unrgstrioted} 20YJ (Unrestrlctedl Investments Inveslmgnt propety note 7 4.255.OfX) 3,885,000 Current a888t8 Debto Cash at bank and in hand Total currgnl assgls not& 8 11,000 518 152 529,152 313.298 Credltors: amounts falllng duo wlthln ono year nol8 9 296 078 Nel currnnt 0888181(Ilabllltles) 301014 Tolal a8•ets1088 curront Ilablllll88 4,272.220 4,186,014 Crodllors: •moun18 lalllng dug after ona yr note 10 1291757 1358 307 Mol A•••t* Fund8 of the Thlgt Unrestrlcted genèral funds The flnanoial 8tat8ment8 on pagè8 8 to 14 wero approved by the truslees on 29 January 2025 and signed on their behalf by: N. Mgrall ffruslea)
Th6 Sanlta Merall Trust Notes lo the Flnanclal Statements For the Year to 31 March 2024 1. A¢countlng poll¢lo8 8asl8 ol preparatlon Th6 Sanlta M8r81i Trusl Is a registered charfty ¢reated and govemod by a deed of trust dated the 19th. September 2008 and Is registered at 20&211 Whitham Road Sheffiold. S10 2SP Thg Truslee$ hav8 complled wtth the duty in Part I Chapter 1 $4 of the Charfties Act 2011 to have due regard to publlc benefit guldance publishad by th8 Commlsslon. The Trusts8s have had regard lor the guldelines when rèvlewing thg Charitws aims and obl8ctive8 and In planning for future aclivliies. The flnanclal statements have been prepared under the hislodc cost convenllon. with thè exceptlon that property Invastments are Included at market value. Thè flnanclal slatefflenls have been prepared In accordance with thg Accounllng and Rgportlno by Charities: Statement ol recommandad Practice applicable to chaTitie8 proparing tholr aocounts in accordanco with the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland CharitS98 Act 2011. and the The Charity h88 applied Update Bullètln 188 publlshad on 2 February 2018. Proparatlon ol Ihe accounts a golng concom ba819 After maklng enqulrl88, th8 Trustees havo a reasonabla exp8Qtatlon that the ch8rfty has adequate rosources to contlnu9 Its actlviti8s for tha torese8able futuro. Accordlngly, they conllnue to adopt the golng ¢oncem basls In preparing the financIal statements as oulllned In th8 Staternent Trusta8s Re8ponslblllties. E8tlmote8 and Jig•MaN9 The preparatlon ol flnanclal statements In compllance wlth SORP UpJat8 Bullelln rsqulr88 the usa of cèrtaln crltlcal accounting 8sUmate8. It al80 r8qulre6 managament to exerdse ludgement In applylng tho charftabl8 trust8 accountlng pollcl8s. E81imates and Judgements ara conllnualty evaluated by the Tru8t88s based on hlslorlcal experl8nc8 and other lactors includlng expectations of future 8vènl8 that are believed to be rea8onablè und8r the clrcumstances. The most slgnlff¢ant 88tlmat88 and judgements ralate to Ihe Investment prop9rt1es. for whlch the trust rell8s on the experience of propoty management and chartered surveyors. Fund Slructur• General funds are unre6trleted funds whlch are avallablg for use at thg d18¢rellon of the Irustee8 in furtherance of iha general obl8ctSvgs of the oharity and which have not beon deslgnated for othar purposes. 10.
The Sanita Plerall Trust Not88 to the Flnancial Stat8men¢s For the Year to 31 March 2024 Income and ondowmemg= All Incoming r88ources are included In the SOFA when th8 charity Is legally gntllled to the Income and the amount can bo quantified with asOnable accuracy. For legacigs, &ntitl8mant Is the earller of the charity being nolified of an Imp8nding dlslributlan or tha legacy belng recelved. Gifts in klnd donated for distrlbulion ar8 Induded valuatlon and recognlsed as income when they are distributed to th6 projects. Gifts donated for resale ar8 Included as Income wh8n thgy arg sold. Donated lacllltlas are Snoludad at the value to the ohartly whera Ihls can b8 quantifi8d and a thlrd party Is bearlng th6 cost. No amounts are Includ8d In the financlal slalem8nts for servlces donated by volunteers. Exp•ndltur• All axpendlture L8 accounlod lor on an accruals basls and has been classified under headlng6 that aggregate all costs related to the caleoory. Whera costs cannot ba dlrectly attributed to partlcular hoadlngs they have bean allocated to activltles on a bas18 conslstenl with uso of th8 resource8. Fund-ralsing costs are those incurred In seeklng voluntsry contrlbulions and do not Include tho costg of d18s8mlnatlng informatlon in support ol the tharllable activitlgs. Support costs are those costs inrred dlrèctly In 8UPPOrt of expandilura on the oblects of the charity and Include project manag8ment carrl8d out at Headquarter8. Management and adminlstration costs are those Incurred In connecllon wlth admlnistratlon ol the charlty 8nd compllance wllh constitutlonal and statutory requlrement6. Invo•tmont Proporty Inv88trnent propertl8B are deflned a8 inter8Bty In land and buildings wfrlch are held for the purp08e of produclng an incomo for the charlty wlth rental Income belng negotiatad at arms length. Procgeds from tha sale of Investment propert10s ar8 credll8d to tho genèral lund account. Thèse properti89 arg Included at thelr markat value and are not depraclated. Any Increaso or decrease In valuatlon 18 racord8d as an unreallsed gain or 1085 In the galn or 108s on Invaslmont sectlon of the SOF Tox8tlon The Charlty Is regl8ler8d with the Charlty Commisslon, number 1125967, and is exempt irom Income Tax and Galn8 Tax provlded its Income and galns arè applled for charitabl8 purpos85. 11.
Tho Sanlta Merali Tru8t Notas lo the Flnanclal Statsments For the Year to 31 March 2024 Flnanclal In8trumonts Flnandal assets such as cash and debtors ara measured at thè pr8S8nt value ol tho amounts receivable, less an allowanc8 for the expected I81 of doubtful r8cèlvables. Financlal Ilabllllle8 such as td6 cr8dltors and IoBll8 aré moasured at the present valtJ8 of Ihe oblioallon. An equity Instrument Is any contract that 8vidèn¢es a resldual Intsrest In the a8sats of the tharitablè Irust aft8r deductlng all of tts Ilabilitles. Th8 charitab19 trust only has flnanclal assets ar financial Ilabilttles of a klnd ihat qualify 8$ baslc finan¢lal instruments. Baslc linancial instruments are initlally recogni88d at transaction valu& and 8ubsequernty measurÉd at thelr settlement valug 2. Inva8tmont Incomo. Rontal Incomo 2024 2023 Rerrts recelvable Cost ol Ralglng fund• 2024 Property gxp8n•o8 Repairs, rates and olhor property exp8nso8 58.790 51,245 Property manag•m8nt expong Bank Interest Legal and prol8ssional fe85 100,462 106,663 111,480 128,716 Tru8teo1' romuneratlon Thé trustees received nor walved any remuneratlon durlrrfJ tha y8ar arKI no out of pocket 8xpen888 wern relmbursed to trustees. & Audftor'• Romuneratlon 2024 Audil Fé& 6. Charltablè Acllvltl Brain R85earch UK Paces Sheffield Cavendlsh Cancer Care Sheffleld Chlldren's H05pltal Heart Foundation Unlverslty of Sheffield Tha World Federation of Khoja Shla Ilhna'asherl Musilm Communille8 G.EFoe Movember A Dunham Ashgate Hosplce 250 1,000 500 1,000 2.000 87,750 32.760 1,000 500 500 500 12.
Tho Sanlta Merall Trusl Noleg lo the Hnanclal Statements For Ihe Year to 31 Mah 2024 7. Invo¥tm•fft Property 2024 2023 Valuatlon at b8ginnlng of y8ar 3,885,000 3,885,000 Addltions lo Investment property 334,181 Unreallsed profil {lossl on revalualion of Inv8Stmènt properties Valuatlon at end ol year The twst 18 tha ownèr of a mlxturé ol resldantlal arKI comm&rdal properties In Shèffield. All propertles werg revalued at market value by the Trusts Chartored SuNeyors. Crosthwalle Commercial as of 31 March 2016, 31 March 2017 and 31 March 2018 in accordanc6 with th8 Royal Instllutlon of Chartered Suryeyors Valuatlon Global Standards 2017. On 31 March 2023 the prOrtIeS were assessad and valuod at rnarket value by tho trustee Murtaza Merall Inline with current marl(at 8xpeclatlon8. The hislorieal cost ol the propertles 13 £5,609.531 & D•btor• 2024 2023 Trada dobtor8 Qodltors: omounl• lalllng du• wllhln on• par 2024 2023 Bank Loans Trade Cr8dttors A¢wal8 ,dèposlts and other cYedttor8 284,071 2,520 217,806 2.520 296 078 Bank loan8 totallng £284,071 are secured agalnst investment proparties held by the trust 10. Cr•dttOT8: amounla folllng duo after morn than ono year 2024 2023 Long temi bank loan8 1291757 1258 307 Bank loans totallng £1,291,757 aro secured agalnst invgstrnenl propgrties hèld by the trust Under tho tonns of the banking agreement the bank loans are repayablg In a blgnded paymont rgpresenting prlnclpl6 and int8règt at the amount of £305,476 annualty. A loan agreement with an outstandlng balancg of £954,296 èxplres on 27 March 2028 and a second108n agreemenl wlth an outstanding balance of £599,865 gxpires on the 12 August 2027. 13.
Thè Santta Morall Twst Note8 to the Rnanclal Stalemerrts For thè Yfrar to 31 March 2024 11 Related Party Transactio Throughout the year The Sanita Merall Trust contlnu8d lo recelve renlal income at falmiarket valu8 from Companles controlled by the Trust88s Nimah. Farah and Murtaza Merall. Th8 total rènts recelved by The Sanita M8rall Tn1 from Trustees and connected entiti66 totsled £30,000.00 14.