PLATO TRUST (A Company Limited by Guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31•t JANUARY 2026 Company No: 06669078 (England and Wales} Charity No: 1126506
PLATO TRUST Contents Page Legal and Administrative Infomation Report of the Directors 4-10 Independent Examiner's Report Statement of the Financial Activities 12 Comparative Statement of the Financial Activities 13 Balance Sheel 14 Notes fonning part of the Financial Statements 15-21
PLATO TRUST Page 3 Legal and administrative inforniation Registered Numbers: Charity Company 1126506 06669078 (England and Wales) Directors and Trustees P Law (Chairman} G Yates (Resigned 26th January 20261 M Markham {Resigned 27 February 2026) Liam O'Brien QPM (Appointed 26" January 20261 Jessica Toolh-markham (Appointed 26, January 20261 Timothy Huggan {Appointed 21$t January 20261 Guy French {Appointed 23" March 20281 Company Secretary M Markham (Appointed 26, January 2026) General Manager M Markham (Appointed 26" January 2026) Registered Office 172 Emscote Road Warnick Warwickshire CV34 5QN Independent Examiner Mark D Harwood FCA BFP FMA4T Michael Harwood & Co Chartered Accountants Greville House 10 Jury Street Warwick Warwickshire Bankers Lloyds Bank plc. The Parade Leamington Spa Warwickshire Natwest Bank 1 Market Place Nuneaton The Trustees, who are also the directors, present their report along with the financial statements of the Charity for the year ended 3151 January 2026. The financial statements have been prepared in accordance with the accounting policies set out on page 13 and comply with the Charitable Company's Memorandum and Articles of Association and applicable company and charity law.
PLATO TRUST Page 4 Directorfs Report for the year ended 31st January 2026 Chaimian's Statement Welcome to the 2026 Annual General meeting of South Warwickshire Plato Trust This last year has recorded significant changes in the Trust in many ways. The most obvious change is that we are once again fom)ally known as Plalo Trust. We were known as Plato Trust from an early date in the Trust's development after we had been known for a short period as South Warwickshire Group Homes11. We then changed our name to Plato Trust and registered our trust formally al Companies House. Subsequently, Plato Trust merged with South WarwiGkshire Group Homes and became South Warwickshire Plato Trust. The daily operational name was Plato Trust which has now been forrnalised and registered as Plato Trustllhe Trust") once again. However. what a trust or a company is called is very secondary to its operation. It is what it does, and the manner in which it does it, that counts. For the last 20+ years, the management of the Trust has been led by Philip Liggins and his decision to retire last year has led us to look closely at how the trust was run and how it should be staffed. We remain grateful to Mr Liggins for his seNice over this time. which included purchasing five leasehold flats and a freehold office incorporating three studio flats. He also ensured il's continuan¢e, without interruption. throughout the Covid pandemic. Mr Liggins effectively left Plato in May 2025 with a fomial retirement date of 31$1 DeMber. During this lime. l initially helped with the day-to4ay management and very shortly. and ably as a volunteer, Mr Matthew Markham (Matt) took over the running as the inlerim volunteer manager whilst we looked for a replacement for Mr Liggins Very fortunately, Matt decided that having had a taste of the running of Plato Trust, to put himself forward as the future manager. After a selection process with other candidates Matt was chosen as the new Manager with his contract to commence from the 1st January 2026. We are very grateful to Matt for his lime as volunteer and indeed for his onward service since then. The other staff change was that after some discussions with Caroline Taylor who, having been faced with a very rapidly changing administrative regime, and a move toward greater digilalisation, along with a much reduced need to collect residual rents (as the majonty of these payments were now being made by standing orderl, took a redundancy package as advised by Watwick Personnel la private HR company). Caroline Taylor was already suffering significantly from stress and was not at work. Her departure meant Ihal Matt look over her duties pending the appointment of a replacement. We also remain grateful to Caroline for her input during her period of employment with us. In her absence we looked closely at her work regime and the creation of a more appropriate job description. At the end of the last financial year, Kery Sampieri, our contracted 'bookkeeperf had decided to withdraw hér services from us. She had Carned out the day to day and draft end of year accounts over many years, which she executed with considerable exactitude and was always particularly chosen for praise by our accountants Michael Haprtood & Co. We thank her for her time with us.
PLATO TRUST Page 5 DirectOS Rèport for the year ended 3111 January 2026 {Continued) With the departure of Kerry. Caroline. and Phil, and the arrival of Matt the opportunity was taken to atter the operation of Plato's Offi which included moving more deeply into computerisation of our accounts, banking and all other records. The banking and accounts are all now online and all account movements entered on a daily basis. Matt chose to explore online accounting systems and decided that Plato would use an integrated banking and accounting system as provided by our principal bank, Lloyds {Lloyds Business Finan Assistant). This appear5 to be an excellent system and provides instant Up-to-date financial management information. All Health and Safety inspection records are now computerised, as are all gas and electricity inspections. Sadly, Gordon Yates retired as a Trustee. Gordon had extensive experience of business and the computer world and was a reliable and wise Trustee to whom I could turn to and seek wise counsel and advice. Our thanks therefore is given lo Gordon for his service as a Trustee. Contemporaneously, with Ihe departure of Mr Liggins and Ms Taylor, we saw the recruitment of four further Tru5tee51Directors. We are fortunate to see the arrival of Mr Liam O'Brian, Mr Guy French, Timothy Huggan and Jessica Tooth-markham. Mr O'Brian had extensive very senior Police Service and experience of the preparation of a vilally important report and review of the actions of the police and govemment agencies in Northem Ireland. Mr French has had a lifetime of experience at the highest level in Banking and, recently, locally with the Coventry Building Society with particular emphasis on business practices and organisation. Mr Huggan had served as a de fado trustee for some time before his fomal appointment as a trustee in January 2026. Jessica Tooth-markham, Matt's daughter, will give us a fresh view from a younger perspective. Also, Coun¢illor Judith Falp has rejoined Plato after a short period of absen. As an Independent Town, District and County Councillor, her unrivalled experience of local government, Its officers and the background lo local govemment decisions, at all levels, is hugely valuable to Plato. The Board of Plato Trust is now stronger. more experienced and more challenging than it has ever been. Matt has transferred mosl ofthe cash payments for the residual rents (not being met by housing benefit) to standing orders which has saved a significant amount of employee time, formerly and mainly carned out by Caroline Taylor. This has led to a re-evaluation of the tasks to be carried out by the assistant to the manager and lo planning the early recruilmenl of such a position at an early date. A review was undertaken of all our properties energy usage. and they were found to be on a higher tariff than others available from our provider. A switch was made to a lower tariff. At the same time, in order to free up more staff time, almost all our properties {where available) were switched over to smart melers, reducing the need for frequent meter readings. Matt no longer has formal House Meetings which had outlasted their original purF)ose, lacked scope, and were very time consuming. All houses and residents are now more regularly visited, and the visits are comprehensive. They incorporate occupant welfare checks, safeguarding checks, maintenance reviews and minor repairs. fire alam tests, and
PLATO TRUST Page 6 Directorfs Report for the year ended 31st January 2026 {Continuedl recordingladdressing any other issues such and health and safety. A record of the outcomes of these visits is maintained. To further professionalise Plalo Trust's operational activities and reputation further, and reduce risk to our occupants, all staff, and almost all trustees are now trained in level 3 Adult Safeguarding and GDPR. Matt is qualified to carry out PAT testing and has purchased the appropriate equipment. Accordingly, all PAT testing is carried out by him whi¢h is cost effective, as against employing an outsidè contractor and is immediately available for use wilhoul the need of organising external contractors when a new occupant moves in, or when an occupant purchases new electrical items. Outstanding accounts with the County Council - There have been a number of historic accounts that seem not lo have been issuedlpaidlexeculed at all or correcllylincorrectly by the County Council who commissioned various inspections and works at our premises, some with, but a lot without Plalo's express or even implied authority. There seem to be a final rump of these accounts amounting lo about £5,000 which Plato is currently questioning with a strong view that these accounts are unjustifiable. The condition of many of the gardens at our properties have been significantly improved. The above actions all have been important to the operation of the Trust but three further matters threatened to have, have had, or may have, a fundamental effect on the future of the Trust. The first of these threats was the governmental demand to register 7 of our group homes as Houses in Multiple Occupation IHMOsl. These houses are Hampton Street, Grove Street, Guy Street, Rugby road, Cubbington Road and East Dene. In the event, East Dene proved only to have 2 useable bedrooms and therefore did not need lo be registered. The inspections were carried out by Warwick District Council in a positive manner, The resultant schedule of works was ¢osted at between £45,000-£50,000. After some positive but tough negotiations with the Landlord of all of thesé properties, Warwickshire County Council, they accepted that some of this required work was their responsibility. Some work required immediate attention, and this was duly carried out. Much of the work agreed with Wamick District Council could be carried out over a limited and planned period of lime, but with the District Council being informed, and the submission of photographic evidence. Some work remains outstanding, prin¢ipally works agreed to be completed by the County Council, which necessitate the manufacture of new windows. A great number of fire doors and closers had also to be replaced. This is a task that has not yet been fully completed, however as each week passes more works are finalised and the District Council updated. The Second of these threats is that aftér a great many years, five of our properties are the subject of rent revièws. If fully put into effect the rent reviews would have added over £65,000 lo our annual costs. The Landlord in all these cases is the County Council. Plato finds it difficult to comprehend the moral basis that Plato has to pay near commercial rents to the same council that Plato Trust is saving probably millions of pounds each year in housing residents that are hugely Gostly and quite difficult to house. Negotiations are still
PLATO TRUST Page 7 Directofs Report for the year ended 31¥t January 2026 IContlnued} proceeding. Under the current climate we expect to be paying considerably more rent next financial year. Some provision has been made by us to protect the future financial viability of Plato. The Third threat was, Ihat post Covid, the reputation of Plato had significantly slipped with standards of accommodation falling. This was underfined to us by the persons commissioning accommodation threatening nol to recommend any further residents to Plato Trust and also to start taking residents out of Plalo accommodation. Indeed, we were lold that meetings had been taking place to plan such an exodus. Wilh better communication and significant improvement in the quality of our accommodalion this has been reversed. However, with the huge pressures on the NHS mental services teams and a resultant very rapid turnover of slaff facing such pressures, Plato Trust, through Matt. finds that it has to constantly remind new staff of the purpose, the limitations, and indeed the very existence of Plato Plato properties have in the past always been subject to significantly more wear and tear than other residential properties and this in turn means that they are more difficult to manage and more expensive lo run than ordinary residential lets. There has been significant refurbishment and maintenance work last year, over and above the HMO work. A number of bedrooms where residents moved out, or where occupants have failed to maintain their Cleanliness, have been fully redecorated and new carpets fitted. One at Hampton Street, two at Rugby Road. three at Grove Street, one at East Dene and two at Regent Place. In addition, new furnishings, bedding, mattresses, metal framed beds, and while goods have been provided and installed at a number of other addresses. Overall, this has and will continue to improve the state of some of our more 'problematic' homes, where the occupants. mental health means they struggle to adequalely maintain them properfy, providing a better quality of living for our residents. One flat at Wickham court was heavily affected by issues of mould and damp, so much so that the occupant had to move out lo another Plato Trust property. Following discussions with Warwick Distrirt Council about making good the property, they are making progress to install new doors, windows, bathroom and kitchen, which will make this a much sought after property once again. Other maintenance and refurbishment anticipated for the year 2026 -2027 will include completing the HMO schedule of works, the refurbishment of the kitchen al Hampton Street, as well as an ongoing schedule of redecoralion, room-by-room, across all group homes given they generally deteriorate more quickly than other residential properties. All insurances have been and will continue to be reviewed in the coming year resulting in a more focussed and relevant cover. The need and scope of Plato Trust employing a 'handyman' to save on employing extemal contra¢lors is also actively being considered. Towards Ihe end of this year, the scope, obligations, and stalus of the assistant have been reviewed with the hope of a new assistant being engaged as soon as possible to carry out essential desk and community work and also to relieve Matt of some of the office work that he
PLATO TRUST Page 8 Directorfs Report for the year ended 31°, January 2026 {Continued) is engaged in. With relief from such pressures, and subject to client demand. available properties and, an affordable plan relating to finance and income, it is hoped lo press on with the continued expansion of Plato Trust. I sincerely believe that Plalo is a business model that is capable of expansion in a market that is unlikely to diminish in the foreseeable future and provides accommodation and mental relief to those who, sadly, are very hard to accommodate. l extend my gratitude to the former. existing and new Trustees for Iheir dedication, contribution and time that they give towards the running of Plato Trust. I particularfy wish to record our gratitude to Matt for his outstandin9 work in putting Plato into the 21st Century and the hours that he has spent before that as a volunteer manager (including whilst on holiday abroad). Wilhout Matt we would be in a very much poorer place. Alongside Matt is his wife Jenny who also has contributed hours of time on a voluntary basis and il is hoped that she will join Plato Trust as Matt's assistant. Wilhout there being a female member of staff, visits to our female residents have had lo be co-ordinated with the help of Jenny, and their daughters Anna and Jessica lo whom l extend our thanks. Trustees The Directors. who are also the Trustees of the charitable company, as named on page 3 have served throughout the penod. Appointment of Trustees is governed by the Articles of Association of the charitable company. The Board of Trustees is authorised to appoint new Trustees to fill vacancies arising through resignation or death of an existing Director. Only members of the charitable company are eligible for appointment as Dire¢tor. The induction of new Trustee involves being made aware of a Trustee's SponSibl11t1es, the governing doGument, the administrative procedures, the history and philosophical approach of the charity. Objectives and Activities South Warwickshire Plata Trust continues with its core purpose of providing accommodation for people with recovering mental health issues within South Warwickshire. Structure, Governance and Management The charity has an executive commrttee of 5 Trustees who meel six times a year and are responsible for the strategic direction and policy of the charty. The Trustees have delegated day to day responsibility for administration of the charity with the General Manager. South Warwickshire Plalo Trust is a charitable company limited by guarantee and without a share capital. The governing documents are the Memorandum and Articles of Association. The company was incorporated on 11 August 2008 and commenced activities on 1 December 2008. These activities were formerly carried out by the unincorporated charity.
PLATO TRUST Page 9 DirectOS Report for the year ended 3111 January 2026 Icontinuedl South Warwickshire Plato Trust. The entire assets and undertaking of Ihe trust were transferred to the company on 1" December 2008. The Memorandum of Association authorises the Directors to make and hold investments using the general funds of the charitable company and as such six long leasehold properties were purchased over the years. Achievements and Perfomiance The charitable company would not be able to provide such a wide Servi to our beneficiaries without the continued support of a number of willing staff who give their ServIS volunlarily. Income generated has been applied to the objectives of the Gharity. Public Benefit The Trustees have had due regard to the guidan published by The Charfly Commissioners on public benefit, and consider that the objectives and activities of the charity fulfil their requirement. Financial Review The Directors consider that the perfomance of the charitable company this year has been satisfactory, with a surplus of £36,880 (2025: £152.2821. The increase in funds ensures the stability of the charity and the upkeep of its houses to meet ils objectives. Funds available are sufficient to permit the charitable company to continue in operation in the medium lerm, given that the continued support of the local councils has already been promised for a further year. ShoLtld this support not continue in the longer tem, further financial support would need to be sought to replace it. Risk Review The Directors actively VIeW the major risk which the Charity fa5 on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems. will provide sufficient resources in the event of adverse conditions. The Directors have also examined other operational and business risks faced by the Charrty and confirm that they have eslablished systems to mitigate the significant risks. Reserves Policy It is the policy of the charitable company io maintain unrestricted funds at a level which equate to approximately 9 months unrestricted expenditure. This provides sufficient funds to Gover management and administration and support costs. Unrestricted funds are maintained al least al this level throughout the year. Future Developments The charitable company will continue to provide suitable homes for people with disability or special needs, and will continue lo upgrade the accommodation provided as well as seeking to add to its property portfolio if opportunity arises.
PLATO TRUST Page 10 Director's Report for the year ended 31" January 2026 Icontlnuod) Statement of Directors, Responsibilities Company Law requires the Directors to prepare financial statements for each financial period that gives a true and fair view of the state of affairs of the charitable company and the surplus or deficit for that period. In preparing these statements. the Director5 are required to.. Select suitable accounting policies and then apply them consistently; Observe the methods and principles in the Charities SORP 2019 IFRS 102}', Make judgements and estimates that are reasonable and pwdent., State whether applicable Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.. Prepare the financial statements on the going concem basis unless it is inappropriate to presume that the company will continue in operation. The Directors are responsible for maintsining proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that Ihe financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. The report of the directors has been prepared having taken advantage of the small companies, exemption in the Companies Act 2006. Approval This repo s approv e Directors on 27 August 2026 and signed on their behalf. Pelef Law" Director
PLATO TRUST ICHARITY NUMBER: 1126506) Page11 Independent Examinorfs Report to the Trustees I report lo the charity Iruslees on my examination of the a¢¢ount5 of the company for the year ended 31st January 2026 which are set out on pages 10 to 19. RBsponsilJilities and bas1$ of report As the charity trustees of the cornpany land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'lhe 2006 Acl'l Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible lor independent examination. I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 A¢l'l In carrying out my examination I have followed the Directions 9iven by the Charity Commission under section 14515llbl of the 2011 Act. Independent examlner's $taternent Since the company's gross income exceeded £250,000 your exominer musl be a member of a body listed in section 145 of the 2011 Act I confirm that l am qualified lo undertake the examination because l am a member of The Inslilule of Chartered Accountants in England & Wales. which Is one of the listed bodies. I have completed my examination. I confirm that no matters have come lo my a+tenlion in connection with the exarnination giving me cause lo believe that in any material respect". accounting records were not kept in respect of the company as required by section 386 of the 2006 Act.. or 2. the accounts do not accord with those records," or 3. the accounts do not comply with the a¢¢ounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination". or 4. the accounts have not been prepared in a¢¢ordance with the methods and principles of the Statement of Recommended Praelice for accounting and reporting by charities applicable lo charities preparing their ac¢ounls In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no con¢erns and have come across no other matters In ¢onnection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mark D Harwood FCA BFP FMAAT Michael Harwood & Co Chartered Accountants Greville House 10 Jury Street Warwick CV34 4EW Date: 8 102
PLATO TRUST Page 12 Statement of financial activities for the year ended 31%t January 2026 (Incorporating the Income and Expenditure Account} Unrestricted Funds Total 2026 Total 2025 Notes Income from: Rent and Rent Allowance Interest Receivable Donations received 448,754 673 29 448.754 673 29 489,915 153 45,431 Total Income £449,456 £449.456 £535,499 Expendtture on: Charitable Aclivrties Other Costs 415 4C*.644 5.932 406,644 5,932 379,113 4,104 Total Expenditure £412,576 £412,576 £383,217 Net movement in funds 36,880 36.880 152,282 Reconclliatlon of funds: Total funds brought forward 1,362,390 1.362.390 1,210,108 Total fund8 carrled forward 14 £1,399,270 £1,399,270 £1,362,390 All income and expenditure denve from continuing aclivib"es. The notes on pages 13 to 19 form part of these financial statements
PLATO TRUST Page 13 Statement of financial activities for the year ended 31 January 2025 Ilncorporating the Income and Expenditure Account) Unrestrlcted Funds Total 2025 Total 2024 Notes In¢orne from: Rent and Rent Allowance Telephone Income Interest Receivable Donations received Damages from resident Tenant appliance contributions 489.915 489.915 411,850 153 45.431 153 45,431 121 250 13 Total Incom¢ £535,499 £535.499 £412.240 Expenditure on: Charitable Activities Other Costs 415 379.113 4.104 379.113 376,160 4,092 Total Expendlture £383,217 £383.217 £380,252 Net movement Sn funds 152,282 152.282 31,988 Reconclllatlon of funds: Total funds brought forward 1.210.108 1,210.108 1,178,120 Total funds carrled foNi•rd 14 £1.362.390 £1,362.390 £1.210,108 All income and expenditu derive from continuing actsvrties. The note5 on pages 13 to 19 fom part of these financial statements
PLATO TRUST Page 14 Balance Sheet as at 31st January 2026 Company No: 06669078 (England and Wales Note 2026 2025 Fixgd Assets Tangible assets 1,164,443 1,163,913 Current Assets Debtors.. amount falling due wthin one year Cash at bank and in hand 27,617 232.874 33,253 209,304 260.491 242,557 Creditors.. amount falling due within one year 10 {25,6641 126,3031 Net current assets 234,827 216,254 Total assetslgss current liablllties 1.399,270 1,380,167 Creditors.. amount falling due after more than one year 11 117,777} Net Assèts £1.399,270 £1,362.390 Funds.. Unrg$trict•d Funds 14 1.399,270 1,362,390 Total charity fund8 £1.399,270 £1,362,390 For the year ending 311t Janvary 2026 the company was entitled lo exemption from audit under section 477 of the Companies Act 2006 relating lo small companies. Directors, responsibilit$. The mernbers have not required the company to obtain an audit of rts accounts for the period in question in a¢¢ordance with section 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and the preparation of accounts. The financial statements have been prepared in accordance with the provisions applicable lo companies subject lo the Sm1 MpanIes. regime. Approved ectors on 2P August 2026 and signed on their behalf. Peter Law Dirgetfjr I Cha an The notes on pages 13 to 19 fom part of these financial statements
PLATO TRUST Page 15 Notes to the Accounts for the year ended 31•t January 2026 Basis of Preparation South Warwickshire Plalo Trust is a company limited by guarantee in England & Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited lo £1 per member of the charity. The address of the registered office is given in the charity information on page 3 and the nature of the charity's operations and pnncipal activities are given on pages 5 10 The charity constitutes a public benefit entity as defined by FRS 102. The fi'nancial slalemenls have been prepared in accordance with Accounting and Reporting by Charities. Stalernent of Recommended Practice applicable lo charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporty'ng Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Chanlies Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015. The accounts do not include a cash fl¢)W Statement on the grounds that il is applying FRS 102 Section 1A. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include eertain items al fair value. The financial statements are presented in sterling which 15 the functional currency of the charity and rounded lo the nearest £1. Accountlng Policies Income These are included in the Statement of Financial Activities ISOFAI when.. the Charity becomes enlitled lo the resources., the Trustees are virtually certain they will receive the resources,. and the monetary value can be measured wilh sufficient reliability. Unreslricled funds Funds from incoming resources. inveslrnenl rental income and allowances are available for the objectives of the charity without further specific purpose and are available as general funds. Interest Receivable and Other Income This is included in the acunIS when receivable. Investment Properties The Trust own5 six long leasehold properties as follows". Prince Regent Court has a lease of 100 years from 151 May 1989 Webster Avenue has a lease of 125 years from 2nd May 1988 Kilby Court has a lease of 990 years frorn 241h June 1981 Governors Court has a lease of 120 years from 25th March 1999 Ryland Court has a lease of 125 year5 from 3rf July 1989 Markham Drive has a lease of 999 years from 1st January 1973 The Trust also bought a freehold propety in Emscole Road, Warwick in December 2021. As they are investment properties. no depreciation is provided on these propety costs and in the opinion of the directors they have been included at 'a fair valuats'on" given their rental income and current use. Equipment has been depcIated over three years. No professional propety valuations have been undertaken as such costs are not considered necessary as the Properties are ularlY maintained al a level suitable for their use.
PLATO TRUST Page 16 Notes to the Accounts for the year ended 315t January 2026 The purchase costs are written off to revenue when incurred. Liability Recognition Liabilities are recognised as soon as there is a legal or constnJctive obligation committing the Charity lo pay our resources. Support Costs All costs are allocated to charitable activities on a basis consistent with use of resources. Pension Costs The Trust makes an employerfs contribution towards the employees. pension scheme. Direct Charitsble Expenditure These are only recognised in the accoL*nls when a commitment has been made and there are no conditions lo be mel relats.ng lo the expenditure which remain in the control of the Charity. Taxation The Charity is exempl from Corporation Tax on its charitsble activities and VAT where applicable is included in the Charity's expenditure. 2.10 Going Concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expeeled level of Income and expenditure for 12 months from asjlhorising these financial slalemenls. The budgeted income and expenditure is sufficient with the level of reserves for the charity lo be able to continue as a going concern. 2.11 Charity Slalus The Charity is registered with the Charity Commission for England & Wales, Registered No". 1126506 and is regulated by the Trust Deed dated 24th November 1981. 2.12 Limited by Guarantee The company was incorporated under the Companies Acts 1985 to 2006 and not having a share capital is limited by guarantee. The guarantee of each member is limited to a maximum of £1 and 15 for a maximum period of one year after Ceasing to be a member. 2026 202S INTEREST RECEIVABLE Bank interest £673 £153
PLATO TRUST Page 17 Notès to the Accounts for the year ended 315t January 2026 2026 Unrestricted Funds Total 2026 Total 2025 DIRECT CHARITABLE EXPENDITURE Staff salaries Pension Rent Rale5 Insurance Electricity and Gas TV licences Heating and appliance repairs Decorating Building repairs Telephone Cleaning Gardening Renewal of household equipment Council lax Travel and expenses Legal and professional Loan interest Management charge Support costs (Note 51 81,012 1,973 107,518 15,394 12,395 48,134 3,595 268 8,126 56,101 81,012 1,973 107,518 15,394 12,395 48,134 3,595 268 8,126 56,101 82,020 1,968 101,733 11,979 11,247 47,897 3,690 2,297 3.580 23.628 71 24.126 2.525 8.187 26.712 4.083 1,000 1,686 7,580 13,124 8,400 6.127 9,313 19,907 1.553 336 995 13.188 12.309 8,400 6,127 9,313 19.907 1.553 336 995 13.188 12.309 £406.644 £406.644 £379,113 2026 Unrestricted Fund$ Total 2026 Total 2025 SUPPORT COSTS Bookkeeping services Office equipment repairs and servicing Stationery and postsge Bank charges Website maintenance and computer support Training Office council lax Office telephone Sundry costs Office equipment depreciation 2.834 1,332 1.012 734 1.500 617 669 1.696 1,849 2,834 1,332 1,012 734 1,500 617 669 1,696 1,849 66 7,898 92 688 1,029 802 559 1,551 505 £12.309 £12.309 £13,124
PLATO TRUST Page 18 Notes to the A¢Gounts for the year ended 31#t January 2026 OTHER COSTS 2026 2025 Independent Examine¢s fee Accountancy fees 2.270 3.662 2,270 1,834 £5,932 £4,104 TANGIBLE ASSETS- INVESTMENT PROPERTIES & EQUIPMENT 2026 2026 2026 Equipment Freehold Leasehold 2026 Total Cost at 11¢ Febfuary 2025 Additions Disposals 480,163 683,750 1,163,913 596 596 Cost at 31xt January 2026 596 480,163 683,750 1,164,509 Depreciation al 1 February 2025 Charged in the year Eliminated on disposal 66 Depreciation al 31st January 2026 66 Net book value at 111 February 2025 480,163 683,750 1,163,913 Net book value at 31 January 2026 530 480,163 683,750 1,164,443 The valuations of the above properties have been consKlered by the Trustees at the year end and in their opinion. they still rellecl a fair market valLte given their rental income and current use. They do not consider the cost of a professional valuatson would form a useful purpose at this lime, as there is no Intention to sell the properties. OEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2026 2025 Rent receivable Prepayments and accrued income Other debtors 529 15,377 17,347 15,000 12,617 £27,617 £33,253 CASH AT BANK AND IN HAND 2026 Unrestricted Funds Total 2026 Total 2025 Lloyds Current account Natwest Direct Reserve account Lloyds Business account Lloyds 32 Day Notice account Cash in hand 173,506 46,087 173.506 46,087 150,510 45,576 12,918 13.076 200 13,076 200 300 £232.874 £232.874 £209,304
PLATO TRUST Page 19 Notes to the Accounts for the year ended 31 January 2026 10. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2026 2025 Trade creditors Bank loan Accrued expense5 Deferred income 2.304 17.777 5.583 1,731 18,716 3,895 1,961 £25,664 £26,303 11. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR 2026 2025 Bank108n$ £NIL £17,777 Analysis of loans Not wholly repayable within five years by instalments: Bank loans 17,777 36,493 17.777 36,493 Included within current liabilrties 117,7771 118,7161 £NIL £17.777 Loan maturity analysis Debt due in one year or less In more than one year but not more than years In more than hvo years but not more than ffive years 17.777 18,716 17.777 £17,777 £36,493 Creditors falling due in more than one year include secured creditors of £Nil12025". £17,777). This loan is repayable in 2026 at a fixed rate of 3.720A. 12. DEFERRED INCOME 2026 2025 At 1 st February 2025 Additions cluring the year Amounts released to income 1,961 3,756 1,961 3,756 1.961 At 3111 January 2026 £NIL £1,961 There is no income that has been deferred for Housing Benefit at the year end relating lo a period after the year end.
PLATO TRUST Page 20 Notes to the A¢¢ounts for the year ended 31" January 2026 13. STAFF SALARIES 2026 2025 Salaries Social security 79.599 1.413 78,674 3,346 £81,012 £82.020 Pension £1.973 £1.968 The number of full and part-lime employees was as follows.. Administration No employee received emoluments over £60.000 in the year 14. FUNDS Unrestricted Funds 8alanee al 1* February 2025 Income in year Expenditu in year 1,362,390 449.456 1412,5761 Balance at 31SI January 2026 £1,399,270 Unrestricted Funds Balance at 151 February 2024 Income in year Expenditure in year 1.210,108 535,499 1383.2171 Balance at 31 January 2025 £1,362.390
PLATO TRUST Page 21 Notes to the Accounts for the year ended 31st January 2026 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Funds 2026 Fixed assets Cash and current assels Current liabilities Long term liability 1.1 $4.443 260.491 125.6641 £1.399.270 Unrgstrlcted Funds 2025 Fixed assets Cash and current assets Current liabilities Long term liability 1.163,913 242.557 126,3031 117.7771 £1.362,390 16. TRUSTEES. REMUNERATION AND EXPENSES None of the Trustees were paid any remuneration during the year12025.' £NIL}. One tTUStee was reimbursed expenses of £2,187 during the year12025' £NIL). 17. RELATED PARTY TRANSACTIONS There were no related party Iransaclions during the year12025." £NILI.