Companyregi51ration number09355345 IEngland and Wale51 Charity reEi5tration number 1162867 IEnEland and Wale51 THE THOMAS SCANLAN TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST LEGALAND ADMINisfRATIVE INFORMATION Trustees Mrs T L Mander MT C W House Dr M J Dawes MT R L Thompson Miss S D Critchley Mr C Criichlev MT K Barrett Mr C W Cooper MT S J Nolan Country of Incorporatlon United Kin8dom IEn8land and Wale51 09355345 ClIty reglstr•tlon En8lJnd •nd Wales Il62867 Reglstered olll¢e 19 Church Stet UcleI East Sussex En8lar TN22 IBJ Indtpendefit examlner Jarnes Todd and Co Limited Drayton House Drayton Lane ChKhesier West sussex En8lar P020 2EW Accountant5 Jarnes Todd and Co Limited Drayton House Drayron Lane Chichester West &J55ex England P020 2EW Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST CONTENTS Page TrustÈe's report Independent exarniner's report statement ol flnancial activities Balance sheet Statement of cash flows Notes to the financial statements 9-20 Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST TRUSTEE'S REPORT {INCLUDING DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 MARCH 2026 The Trustees present their annual report and financial siatements lor the year ended 31 March 2026. The financial ststements hève beÈn prepared in ac£ordancÈ with the a£countin8 policies set out In note I to the flnanclal statements and comply with the Trust's governing document. the Companies Att 2(M)6 and "Accounting and Reporting by Ch8fltles.' Statement of Recommended Prattice applicable to charities preparing their accounts In accordan with the Financial Reporting Standard applicable In the UK ènd Republic of Ireland IFRS 1021" (effective l January 20191. Objerti¥es and activities The Trust Deed, dated April 1979, allows the Trustees to prO¥e housing for the retired. The Trustees are empowered to provide and rnaintain home5 upon such ternis as they a8ree are fittin8 and in consideration of the lease5. The Trust'5 propertie5 can be purchased on a leasehold basis at a price deterrnined by an independent 5ur¥eyor or with a discount calculated u51n8 the potential pur£haser5 a8e and life expectancy (the di5COUTht schernel. As a housing provider for the over 55$ lover 605 at Hai15hom aml Lower Willingdonl. we are MrnItted to meeting the growing needs and altering (Jeman(Js of our 'niche' rnarket. We aim to accomrn(xlate the requirements of our discerning applicants that join our waiting lists and work to achbeve high levels of tiSfaCtiOn with the housini we provide. One of our discovnt lease bunÉalows in Lower Willin8don wès vacated in June 2025, wès svbseouently refurbished and added to our rental portfolio, the first at that site. We also purchased a one-bedroom bungalow in Vckfield that had been on the market for several months- this allowed the le io be completed fr>r our former resident's famity and enabled us to offer a further rental. which was soon oc£upied, tsking the number of rentals to nine. We will continue to review our own housing stock as properties become available, whilst assessing the needs of those on our waiting lists. We offer our rental propertles at 'less than market. rent, based on local authorlty housing allowances. Our alm is to regularly monltor the need for rental properties, based on our waiting lists and increase that part of our porrfolio as funds allow. We have contlnued with works recommended In the maintenance plan provided by a lirm of Chartered Sur¥eyors In 2022. Major roof works have taken place at our site at The Meads to address faulty materials which has resulted in con51derable expendlture. We 3150 had to deal with draina8e problem5 caused by a broken under8round drain at our Baker Court site. A local firrn wa5 able to excavate and lay a new section ol drain to solve the issue, ensurin8 that the residents weren't adversely affected. Several new boiler5 had to be installed thi5 yeor, providing a more efficient arbd etttnomic heat and water Source for those resident5. We refurbished the bathroom by removing the bath aNJ inStsllin8 a walk-ih sFthver foT one of sidertts who was unable to use the bath due to health and mobility issues. We are registered for the next solar panel scheme with a VIÈW tr> inttalling panels at 6 bungalows at our Willingdon site which will benefit the residents for their own elertri£ity SUPPty. As properties return to us we are COMinuing our progrnmme of relurbishment. with particular attention being paid to the upd8ting of bathrooms and kitchens. We contlnue to look for any suRable development opportunities to buildlconvert new homes. Public benefit The Trustees have had regard to the Charity Comrnission's guidan on public benefit and are aware that it is their duty to administer the charity to further its purpose5. They are aware that the Public Benefit rnU5t be identif13ble and proven. They are also awère that whi15t our charity does benefrt indNiduals of a particulaT Section of the public our beneficiaries are deemed to be 3 Sufficient section of the publK. We provide acce55 to contractor5 and OUT office 51aff when maintenanceladaptatiofi issues occur. Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST TRUSTEE'S REPORT {INCLUDING DIREcfoRS' REPORT) ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2026 Each property is provided with a 'lifeline' system. providing 24hr access to care and emergency services. Some residents choose not to access this. They are able to review this option at any time during theirtenure. We are a 'niche' provider but fulfil a need in a market where'retirement, housing and associated 5ervice5 are being offered at huge costs by the larzer retirernent housin8companie5_ The Thoma5 kanlan Trust is a charity and a lirnited company. We provide affordable housing for the over 555 lover 605 at Hai15ham and Lower Willin¥donl across 4 location5 in East Sussex. Our airn 15 to provide worry free living. Flnanclal revlew This report is to be viewed in collaboration with our ppared accourts for the year to 31. March 2026. The Trust's Treasurer In Ilalson with the Trustees and Accountant monllof the level ol reserves held by the Trust. The Reserves Policy of the chaflty outlines the monies that the Trustees would wish to have In reserve for the charlty to be able to expand without financial constraints. The Trnstees continue to monitor these reserves and to build on them for future developments andlor to pursue their aim to provide rental proFerties. Future reserves can be accumulated from the sale of properties on the death ol reshlents. Those sold using our Dlscount Scheme, automatically revert to the Trust for re-sale. Reserves for each of the Servlce Charge Accounts are accrued Sn separate accounts lor each site and used towards Items of annual expenditure. The Dlscount Property Settlement Reserve Fund Iscurrentty £4C4),( The Emergency Reserve Fund Is set at £lCrf).( Reserve funds are held Sn separate accounts wr(h seven financial Instr(uiions in order to miti8ate the risk of loslng funds due to As propertie5 become vacant consideration Is 8i¥en to whether propertles shoulj be sold or used as rentsl propertles, dependlng on demand from our waiting li5. Aeserve$ poli¢y It 15 the policy of the Trust that unrestricted funds which have not been desi8nated lor a Specific use should be maintslned at level equivalent to between three and six rnonth's expenditure. The Trustees consider that re5erve5 at thi5 level will ensure that, in the everit of a SiEnificant drop in funding, they will be able to continue the Trust's current activitie5 while consideration 15 given to ways in which additional funds may be raised. Thi5 level of re5erve5 ha5 been maintained throughout the year. R15k revlew All major deci5ion5 are tsken followin8 consultation with all Trustees and where nece55ary Wlth the participation of profe55i0nal5. Tru5tee5 Meet approxirnately every two rnonths. where bank balan5 and financial matters are reviewed and di5CU55ed along with the running of the Trust. The Trustees are able to meet via video conferencing if and when necessary. In thi5 Past ye3r we have been able to hold meeting5 in person with the flexibility of Trustees joining by Z(K)m when Hppropriate. Prior to each meeting Trustee5 are PToviOe(I with a 5urnmary of the rrwemerbts in the bankaccount5 and balance5. The Gerieral Manager is able to consult with Trustee5 on a daily basi5 when nece55ary. Policies are in place regarding the Verifitation of invoites and paytnÈnt5, and we have a weekty system in plate for the approval of invoitÈ5 by Ètnail which is sent to all the TrustÈes. The Treasurer and Chairtnan have access to the online banking. Spot thetking of invoices is regularly rried out atthe offitÈ by one Trustee. aKfÈÈd at Èath meeting. Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST TRUSTEE'S REPORT {INCLUDING DIREcfoRS' REPORT) ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2026 Matters requiring consultation are p)sted or e-mailed io Trusiees and deciSn$ made according to the majority. We have commissioned the setting up of a secure'email. to share pertinent infomiation with the Trustees. All Trustees are involvedlconsutted at regular meetings rwrding the movement and use of funds. The Treasurer is 3ble to consult with the Trust's A£countant and banker5 whenever nece55ary. All financial transactions require two Signatures. PolKie5 rezarding the use of cheque5 and procedure5 for rnakin8 on line payment5 are detailed in the Trust'5 Policies File. The Trust's Risk map is vIewed by a $ub¢tsmrnee of Trustees annually with reference to the Charity Governance Code. The review is then submited at a Tneeting of all Trustees and matters Tequiringattention are then dealt with. We hold a Related Partles Register. ukxlaied annually. Twstees are requId to declare any personal inierest latIng io anv agendè item prlor to each meetlng. Plansforfuture perfod5 In the coming year the Trust would like to continue io k<us on its rental portfollo. funds permltting, in addltion with continuing to update and modernise our properties as they become vacant and funds dictate. We will consider any request from current residents to help with the cost of updating bathroom. kitchen, garden and fencing improvements. We are reco8n15in¥ the need to adapt to the chan8in8 landscaFe of retirement and the requirements of existin8 and future customers. To thi5 end we will continue to priorit15e our existing proFerties and our rentsl portfollo In the comln8 year. Strutture. governance and management Our governin8 document5 are the Trust Dee<l. lormulated as a $tt of the last will and testament of the late Thomas Arthur 5cènlan in which he left the bulk of his estote-to be used in ¢re•tin8 a Trust lor the pufpose of etting homes for the benefit of retired people. Following the Incorporation of the Trust on isih December 2014 the Trust is now alw governed by Company Law and Its Memorandum and Articles of asso£iatH)n. The Trustees, who are also the dirertors for the purpose of eompafiy law, and who seryed durin8 the year tynd up to the date of 5ignatvre of the financial st•tements We.. Mr5 T L Mander Mrs l A Nlcholls (Resigned 25 March 20261 Mr C W House Dr M J DavSes Mr R L Thompson Miss S D Critchley Mr C Critchley Mr K Barrett Mr C W Cooper Mr SJ Nolan Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST TRUSTEE'S REPORT {INCLUDING DIREcfoRS' REPORT) ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2026 Recyultment and appolntment of trustees TrustÈes/DirÈctors come to the Trust via pÈrsonal recommendation OT applitation. Such pÈrsons a invited to attend a meeting of the Trustees and are then guided through what is fequired of them by one other TrustÈÈ. They are provided with Information from the Charity Commission as to theif role and duties. Following attendance at a meeting and subsequent Q and A, indivlduals deemed suitable are asked. in writing. to join the board. Following this a formal Deed of Appolntment Is prepared by the Trust's a£countant and all necessary 'legaf che(k% undertaken. We have now produced a Trustee Indurtion pack whlch provldes guidance on the role and has lin to websiies and online training courses to support new Trustees. Specific Trustee roles are agreed at the AGM. where all offKers and Trustees re-affirm their willingness to continue on the board. The Trustee5 are always on the bok£sut for suitable Tru5teesl Directors and are mindful of the skills and dwer5ity required. None ol the Trustee5 ha5 any beneficial Inte51 in the company. All of the Trustees are members ol the company and 8uarantee to contribute £1 in the event of a windinBup. Oryanlsatlonal strudure The day to (Jay runnin8 of the Trust is undertaken by the General Manoger,. in her absence there are two part tlme administration 3SSiStants. In April one of our part time assisiants $•Bned, and we employed a replacement in May. The General Manager hès delegated powers to deal with the running of the Offi and the Trusts buslness wlth a¢¢ess io the Trustees at all times. Poli£les are in place and adhered to as well as a guide detailing the daily needs of the office. All 5tsff are monthly paid, the payroll bein8 mana8ed by the Trust'5 accountant. Salarylhourly rates are revlewed In February each year, with any amendments effective April. Any stsff eligible for pension benefits are enrolled unless they decllne membership. The Trustee's report wa5 approved by the Board of Trustee5. SSA5 Mr SJ Nolan Trustee Date.. 0410912026 Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST INDEPENOENT EXAMINER'S REPORT TO THE TRUSTEES OF THE THOMAS SCANLAN TRusr I report to the Trustees on my examination of the finala1 statements of The Trn8S Scanlan Trust Ithe Trust) for the year ended 31 March 2026. Responsibilities and basis of report As thÈ TrusteÈs of thè Trust land also its difettors for the purposes of tompany lèwl. you are rÈsponsiblÈ for the preparation of the financial statements in accordance with the QuireMentS of the Compans Act 2(MJ6. Having satisfied myself that the financial statements of the Trust are not required ro be audited under Part 16 of the Companies Act 2LNJ6 and are eligible for Independent examination, I report in respert of my examination of the Trust's financial statements carried out under sertion 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under settion 14SlSllbl of the Charities Act 2011. Independent examlner's 51atement I have completed my examinatlon. I conflrm that no matters have come to my attentlgn In connertion wlth the examlnatlon glvlng me c8U5e to believe that In any material resFrt'. a¢countint re¢ords were not kept in respert of the Trust as wuired by sertiofi 386 of the Comp•nies Act 20D6. the financial statements do not accord with those records", or Ihe financial statements do noi £omply with accounti 9¥Irnents ol se¢tion 396 of the Companies Att 2006 other than any requirement that the fina1#1 ststements iNe a rrue and lair v*w. which Is not a matter ¢onsldered as part of 3n independent exèmination. or the financial statement5 have not been prepared in accordance with the method5 and principles of the Statement ol Recornrnended Practice for accountin8 ar reportin8 by charities appliuble to charitie5 preparin8 their financlal statelnents in accordance with the Financial Reportin¥ Standard applicable in the UK and Republic of I14 IFRS 1021. I have no concerns and have come across no other rnatters in connefflion with the examination to which attentlon should be drawn in this POrt in order to enable a proper unt1erstandingof the financial statements to be reached. Ollver Read FCCA ACA James Todd & Co Limited Drayton House Drayton Lane ChSchester Wèst Sussex P020 2EW England Dated-. 0410912026 Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST ATEMENT OF FINANCIAL ACTIVITIE5 (INCLUDING INCOME AND EXPENDITUREACCOUNn FOR THE YEAR ENDED 31 MARCH 2026 Unrestricted Unrestricted funds fvnds general Desi8nated 2026 2026 Totsl Unrestricted Unrestrirted funds fund5 general Desi8Thated 2025 2025 Total 2026 2025 Income from.. 196.749 42.228 196.749 42.228 181,576 43,854 181,576 43,854 Investments Total Income 238.977 238.977 225.430 225,430 Expendlture on: 167.760 10.995 178.755 118.675 10,966 129,641 Total expendlture 167.760 10,995 178.755 118.675 10,966 129,641 Net 8ains On investments io 75.221 75,221 1,457 1,457 Net In¢om•llèxpÈndllur•l 71,217 64,226 135,443 106,755 19,5091 97,246 Transfers between funds 708.753 1708.7531 movement In funds 779.970 1644,5271 135.443 106,755 19,5091 97,146 Reconclllatlon of funds.. Fund balances at l April 2025 435.172 5,919.083 6.354.255 328,417 5,928,592 6,257,009 Fund bolan¢es * 31 Marth 1026 1,215.142 5.274,556 6.489.698 435,172 5,919,083 6,354,255 The Statement of financial activities include5 all zains 105se5 reco8ni5ed in the year. All income and e¥penditure derive from continuing activitie5. Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST BALANCE SHE ASAT31 MARCH2026 2026 2025 Notes Fixed asset5 Tan8ible assets Investment property 269.888 5.963,891 280,414 5,638,669 13 6,233.779 5,919,083 Current assets Debtors Cash at bank and In hand 1.502 1.220.IJ)3 864 1.357,238 1.221.505 194,9361 1,358,102 187,97SI Credltots: amourts fallin8 due wlthln one year Is Net current assets 1.126,569 1,270,127 Total ass$ leu ¢urreii¢ Il¥billll•s 7,360,348 7,189,210 Credltors: •mounts f•lllng •fter mortih•n one ye•r 16 1870.6501 1834,9551 Net assets 6.489,698 6,354,255 The funds of ihe Trust Unrestricted funds- general Unrestritted funds- Oesignated 20 19 1.215,142 5.274.S56 435,172 S,919,083 6.489,698 6,354,255 The company Is entltled to the exemptlon Irom ihe audii requlremeTht contsined In sectlon 477 of the Companies Act 2CNJ6. for the year ended 31 March 2026. The directors acknowledge their responsibilities for comptying with the reqvirefflents of the Companies Act 2(M)6 with respect to accounting records and the preparation of financial Statements. The member5 have not required the tompany to obtain an audtt of its financial statements for the year in question in accordance with Settion 476. These financial ststements have been prepared in accordance with the provisions applicable to companies subjett to the small companies regime. The finaniial 5tatetnent5 were approved by the Trustees on.04 J.0g1.2026 Mr C W House Trtsee Mr R L Thompson Trustee Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST sfATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2026 2026 2025 Notes Cash flows from operatlrtrg actlvltles Cash generated fromllabsorbed by) operatitins 24 71.(M)7 157.8021 Investln8 actlvltles Purchase of tsnEible fixed a55et5 Purchase of Investment property Investment intome received 14701 1250.IJJ)I 42.228 43.854 Net cash (used Inllgenerated fmm Srwestln8 actlvltles 1208.2421 43,854 Net cash 8enerated from flnanclng artlvff¢be5 N•t d*Eroase In cash and ash equlvalents 1137,2351 113,9481 Cash and cash equl¥alents at be8lfinln8 of year 1,357.238 1,371,186 sh and cash equKtalenls •t end of ye•r 1.220.003 1,357,238 Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Accountlng pollcles Charity inforniation The Thomas Scanlan Trust is a private company limited by 8uarantee incorpotsted in EnBlaffid and Wales. The regittered offite is 19 Churth Street. U£krId. East SussÈx. TN22 IBJ, England. 1.1 Bas15 of preparatlon The fin£ntial statements have been prepared in at£ofdantÈ with the Trust's governing dotument. the Companies Act 2006. FRS 102 "The Financial Reporting Standard applitable in thÈ UK and Republic of Ireland- I"FRS 102.1 anrl th Ch8rlties SORP "Accounting and Reporting by Charities." Statement of Recommended Practice appllcable to chèritles preparing thelr accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. (effective l January 20191. The Trust is a Public Benefit Entity as defined by FRS 102. The flnancièl statements are prepared in stell1 whth is the funttional curren¢y of the Trust. Monetary èmounts In these flnancièl statemenis are rovndetl to the nearest E. The financial staternent5 have beeTh prepared under the historical cost con¥ention. The principal accountin8 pollcle5 adopted are set out below. 1.2 6oln6 concern At the time of approving ihe financial staiemenis. the Tiustees have a reasonable expettètion that the Trusi has adequète rÈsources to continue in operational exisience for ihe fOseeable fulure. Thus the Trustees continue to •dopt the going concern basis of accounting in preparing the financial ststements. 1.3 Charltablelund5 Unrestritted funds are ayallable for use at the discretion of the Trustees in furtherance of thelr charltable objectives. Restrlcted fund5 are subject to speciflc condltloThs by donors or grantors as to how they may be used. The purposes and Uses of the restricted funds are set out in The noies to the financial statements. 1.4 Income Income Is recognised when the Trust is legalfy entrtled to it after any performance conditions have been met. the amounts can be measured reliably. and it is probable that income will be e1Ved. Income Is derived from 3 main sources.. 8raTrts of 125year leases. grants of a Ille intsrest lease or rental of property. Where a Ilfe interest lease is granted. the irThne is spread over the remaining life expectancy of the purchaser. In previous years, the ori8inal amount received was spread over rhe remainin8 life expeciancy. The life expectancy 15 based on the Life Tables released by the OlfKe of National Sratistics. When the esiimates a revised, this change in life expectancy is applied prospectivety to the incorne deferral calculatiorbS. Where a 125 year lease is granted, the incovne is recogni5ed in the year of grant. The tfU5t 15 also entitled to 5% of the proceed5 Of any subsequent aSe assigned by the original tenarbt and thi5 incorne is also recogni5ed in the year of a55ignment. whe a property 15 rented. irbcorne 15 (08nISed orb arb accruals bas1% Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Accounting policies Icontinuedl 1.5 Expendlture E¥penditure Is recognised once there is a legal or constructive obli8atioTh to transfer economic benefit to a third party, it 15 probable that a transfer of economic benefits will be required in settlemenL and the amount of the obligation can be measured reliablv. C05t5 are included within the Trust'5 accounts relate either to the dIrt provision of residential accornrnodation or to the 5UPPOrt and governarice costs asx)ciated with the tTVSt'S artivities. Included withln octwities undertaken. dirt a gernI expehses and the Costs of subsidising the running of th estètes which the Trust owns. The main costs within this section late to the provision for ptrssible settlÈmènt of Ilfe Interest leases if the sident 4Jies or leaves withifi 10 years of swiinK the lease. This is covered in more detail In the provisions note below. Suppon cgsts Include office and staff costs lalIng10 o¥erseeln8 the irust's aufvities. 1.6 Tan8lble fixed assets Tan8ible fixed assets ère Initlalty measured ai Cost and subsequently MeasUd at cost or valuatlon, ner of depreciation and any Impairment losses. epreciotion is ¢0£fil$ed $0 ¥$ io wiite off the cost or Valuat) of assets less their re5Ul1 values over their useful lives on ihe followin8 b8ses= Freehold land and buildln85 Flxtures and fittings 4% straight Ilne 25% straiKht line The galn or loss arlslng on the disposal of an asset is deterrn1rd as the difference between the sale proceeds and the carrying value ot the asset. and is recognised in the 5tstement of linancial activities. 1.7 Investment property Investment property, which 15 property held to earn rentals andlor lor capital appreciation, is initially ConIsed at cost, which include5 the purchase cost aThd any d1CtlY attributable expenditure. Subsequently it is rnea5ured at fair value at the reporting end dète. The surplus or deficit revaluation is C0niSed in profit or1055. 1.8 Impalrment ol flxed assets At each reporting end date, the Trust reviews the carrying amounts of Tts tangible assets to dÈtermine whether there is any indication that those èssets have suffered an impairnient loss. If any such indication exists. the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss Irf any). 1.9 Cash and cash equivalents Cash and cash eqJivalenrs include cash in hand. deposits held at call with banks, other short-term liquid investment5 with original maturities of three month5 or le55. and bank o¥erdrafts. Bank overdrafts are shown within borrowings in 10- Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Accounting policies Icontinuedl 1.10 Flnan£lal In#rumÈnts The Trust ha5 elected to apply the prO510Th5 01 Section Il'Ba5ic Financial In5trufflent5' and Section 12 '0ther Financial Instruments155ue5' of FRS 102 to all of its financial instruments. Financial instruments a recognised in the Trust's balance sheet when the Trust bewmes party to the Contractual provlsions of the instrvment. Flnanclèl assets ènd liabilities are offset. with the net amounts pfesented in the financial statements, when there is a legally enforceèble right to set off the re£ognised amounts and the is an Intention to settle on 3 net basls or to reallse the èsser and settle the Ilability slmultaneously. 8oskllfton¢1#l•¢ts Basit financièl assets, which include debtors and Cash and bank balances. ore initially measured at transèttion price in¢ludlnÉ trènsattion costs and are subsequÈntly carried at amortised cost using the effertive interest methDd unless the arrèngement constitutes a flnan¢ing transattion, where the transattion is measured at the present vèlue of the future receipts dlswunted at a market rate ol Interest. Flnancial assets classifled as re1Vable wlthin one year a not amortised. 8osl¢llfton¢lol Ilabllliles Basic finan¢ial liabilities, including creditors •nd bank loans I initially ¢08n1$ed at tr•nsa£tion price unless the arrangement Constitutes a financing transarfion. where the debt instfument is MeaSud at the present value of the future payments discounied at a mark*t rate of inte$1. Financial liabilities classilied as payable within one yeèr are not amortised. Debt instruments are subsequentlytarried at amortised cost, using the effettive interest rate method. Trade credltors are obIlgatOns to payfor goods or services that have been acquired In the ordinary course of operations from suppllers. Amounts payable are classified as current liabilities rf payment Is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised Inrtlalty at transattion prlce and subsequently measured at amortised cost using the effertI Inierest method. Derecoonltlan aAflIn£1QII10bIIftIes Financial liabilities are dereco8nised when the Trusvs contrartual obli8aiions expire or are discharged or cancelled. The amount recognised as a prov7sion is the best estifflate of the ¢onsiderètion QuId to settle the psent obligation at the reporting end date, taking into account the ri5k5 and uncertaiThties surfounding the obligation. Where the effect of the time value of tnoney 15 rnaterial, the arnount experteij to be required t0 settle the obligatlon 15 recognised at present value. When 3 provision is rneasured at prÈsÈnt value. the unwinding tsf the discount is rÈiogni5ed a5 a finant tost in net intome/lexp2nditurel in the pÈriod in whith it arises. The Tnjst offers a 'Money Back GuaraMee' on the life interest leases. The conditions of the guarnnteÈ hève changed for leases entered into during the currert and subseguent years. Existing leases entered into in previous years stlll have the old condltions èttached to them. Previously. the conditions were ihat if the ienant dies or leaves wirhin the firsi io years of the grant of the lease, then an amount is paid back to the tenant lor executors) based on the original amount paid which reduces on a srrai8ht line basis over the 10 years. This has now been £han8ed so that is an applKant has more than 5 year5, but less than 10 years life expectancy, the amount paid back reduces on a Strahr line basis over 5 years. Applicant5 Wlth less than 5 year5 life expectancy will not receive any arnount back. Applicants with more than 10 years will have the sarne conditions as in previous year5. Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Accounting policies Icontinuedl For exSsring leases, if at the end of the flnancSal year ihe Ilfe expectancy of a tenant wlth è Ilfe interest lease granted less than 10 years ago Is less than 10 years. a provision is calculated to reflect the payment that is anticipated following the death of the tenant within the following 10 years. For new leases. as the tenant's life expertancy will be Ereater than the term the guarantee pavCk period runs over. no provision will be reco8nised. For existing leases, if at the end of the financial year the life expectancy of a tenant with a life interest lease granted less than 10 years a80 15 8reater than 10 years, a contingent liability is disclosed to llect the payment that would be required If the tenant were to die within the initial 10 Yea period. For new leases, all amounts potentially due under the 8uarantee will be disclosed 05 a contin8ent liabilrty_ The provision and conttnEencie5 included are updated at eath year end to account for the chan8es in probabilitie5 On the life expectancie5 of the reSerbts. 1.11 Employee beneffts The tost of èny unused hollday entitlement Is recognised in the per1 in which the employee's services are recelved. Termination benefits are recogni immediately as an expense when the Trust is demonstrably committed to termlnate the employment of èn employee or to provide iermlnatlon benefits. 1.12 A[rmt bentlhs Payments to defined contrlbution retirement benelit schemes are charged as an exFense as they fall due. Crltl¢•l •¢¢ourtlni eMlm•tes and lud8•*en In the èpplication of the Trust's accounting policies. the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and èssociared assumptions are based on hi#orical experfence and other fattors that are consldered to be levant. Actual results may differ from these estimates. The estimates and undertyin8 èssumoions are reviewed on aft ongolng basis. ReS10S to accountlng estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or In the period of the revSslon and future peri¢>Js where the reWsioTh afferts bh currem and luture perltrjs. Income from charftable artlvltles Unrestrlcted funds 2026 Unrestrlrted funds 2025 Provision of hou51n8 Sale of goods Charitsble rental Income 130.325 66.424 130,417 51,159 196.749 181,576 12_ Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Income from Investments Unrestricted funds Unrestricted funds 2026 2025 Interest ¢t1¥able 42.228 43,854 Expendllure on charftable artl¥l¢ie5 Ch•rli•ble •rtl¥ttles 2026 Ch•th•ble •¢tlvltlès 2025 Dlrect costs Gardening Insurance Repairs and renewals Legal and professional Service char8e5 Llght ènd heat Rates Bank charges 211 4.290 99.512 3.795 11.975 1.756 3,095 206 1,538 4,707 56,327 1,388 9,369 2,IS3 4,238 60 124.840 79,780 Share ol support •nd covem•n¢e Costs (see note 61 Support Govèrnènce 47.110 6.805 45,332 4,529 178.755 129,641 Analysls bylund Unrestricted fund5- general Unrestricted funds- Designated 167.760 10.995 IIB,675 10,966 178,755 129,641 Charitable artivitie5 are Split belween de5ignateif and unrestricted fund5. The designated funds relate Specifically to the depreci3tion of tanEible fixed a55ets, which are included within the 5UPPOrt iosts of the charity. In the year ended 31 March 2026 depwiation was £10,99512025.. £10.966I. 13- Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Support costs allocated to actlvltles Charitable activitie5 Total 2026 2025 Staff c05t5 Depreciation PostagÈ, stationery and tephOne Rates Computer costs TravelliriE expenses Legal and professlonal Sundry expÈnses Governance 29,236 10,995 1,977 325 1.886 92 2.346 253 6,805 26,829 10,966 2,295 287 1,677 iio 2,404 764 4,529 53,915 49,861 2016 2025 Go¥ernaThce costs comprlse.. Independent examination fee$ Accountancy 2,268 4.537 240 4,289 6,805 4,529 Net movement In lunds 2026 2025 The net movement in funds is 5tsted after charginullcreditin81'. Fee5 payable for the independent exafflinotion of the charity's finarKièl ststefflents tlepreclation of owned tangSble fixed assets 2,268 10.995 240 10,966 Trustees None of the Trustees lor any pers0Th5 connected wf(h them) CeNed any MneratIOn or benefit5 from the Trust durine the year, except for 3 trustee5 who We reirnbursed a totsl of £66 for travel e¥penses12025- 3 We reimbursed £110 for travel expen5esl. 14_ Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Employees The average monthly number ol employee5 durinz the yearwas.. 2026 2025 Number Number Support stsff Employment coms 2026 2025 Wages and $8l•ries Other pension costs 28.352 884 26,026 803 29.236 26,829 The Thomas Scanlan Trust recelve5 contributions from the connected 5eryice5 charge accounts to help pay for the wa8es and 5alarie5 Wlthin the Trust. In the current year. the connerted service charge account5 contributed £24,478 12025 - £23,046). The balance within the Trust is the rt value that the trust ha5 had to pay towards the wa8e5 and salary c05t5 and represents the true cost to the Trust. There were no ernployees whose aThTrual remuneration was more than £60,lXI. 10 Galns and losses on Invemmerfs Unrestrlcted lund5 Desl8nated 2026 Unrestrlcted fund5 DesS8nated 2025 Gainslllossesl arisin8 on: Revaluation of investments 75.221 1.457 li Taxotion The charlty is exempt from taxaiknn on fts attivr(ies Cause all its irKome Is applied for charitsble purposes. 15- Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 Iz Tanglble fixed assets Freehohl land and lIdIrt Flxtures and flttlnp Total At l April 2025 Addltions 360,668 9,696 470 370,364 470 At 31 March 2026 360,668 10.166 370,834 Depre¢latlon and Impolrm• At l April 2025 Depreciation char8ed in the year 82,001 9,618 7,950 1.377 89,951 10,995 At 31 March 2026 91,619 9,327 100,946 C•rryln8 amount At 31 March 2026 269,049 839 269,888 At 31 March 2025 278,667 1,747 280,414 The buildlngs and other assets owned by the trust are necessary for Its day ro day charitable activities. For thls reason, the assets have been ring-fenced Into a separate designated fund to show that these monies are not realisable wlthout havlng an impact on the trust's activr(ies. 13 Inve$tm•nt propèrty 2026 Falr value At l April 2025 Additions through external acquisition Net gains or losses through fair value adjustments 5,638,670 250,000 75,221 At 31 March 2026 5,9S3,891 Investment property comprises the full open market value of properties leased to resentS under a life interest lease or under a rental agreement, and the value of the reversionary interÈst of properties leased to residents under 125 year leases. The fair value of the investment property as at 31 March 2026 has been arrNed at on the $1S of a valuation rried out in February 2026 by Appleby Petfield Chartered Surveyors, who are not connetted with the Trust. The valuation was made on an OF*n market value basis by relerence to market evidence of transattion prices for similar properties. 16- Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 14 Debtors 2016 2025 Amounts falling due within oneyear Trade debtors Prepayments and accrued Income 605 897 864 1.502 864 15 Credltor5: amountsfalllng due wlthln one year 2016 2025 14ote5 Delerred income oiher creditors Accrua15 17 88.573 165 6,198 81,817 150 6,008 94,936 87,975 16 1t01$. amourrtsfalllw du• aft•r mortthan one year 2026 2025 Noies Deferred Income 17 870.650 834,955 17 Deferred in¢ome 2026 2025 Other deferred income 959.223 916,772 Deferred income relates to the amounts receNed for the grant of lrfe interest leases by the Trust As the lease term is for the length of a resident's life. income is spread over the life expectancy of the resident at the Veèr end date. l year's worth of Income our ol the total life expertancy is released ro rhe SOFA in the financial year, with the balance relating to the life expectancy after the year end included in deferred income. 2026 2025 Deferred income is intluded within= 88,573 870,650 81,817 834,955 959,223 916,772 17_ Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 17 Deferred iThcome Icontinuedl 20Z6 2025 Movements in the year.. Deferred income at l April 2025 Released from previous periods Resources deferred in the year 916.772 1103,1751 145,626 1,031.310 1114,5381 Deferred Income at 31 March 2026 959.223 916,772 18 Retlrement benefft schemes 2026 2025 Dèfined ¢ontrlbutlon s¢htm•s Charge to profit or loss In respect ol defined ¢ontribution schemes 884 803 The Trust operate5 a defined contribution pension scheme for all qualifyin8 ernployee5. The assets of the scheme are held separately from those ol the Trust in an independently Jdfflinistered fund. The ¢har8e to the Statement of Finan¢lal Artivities in Spect of defihed ¢ontributiofi schemes was £88412025.. £8031. 19 Unrestrlrted funds- Desl8nated These are unrestricted fund5 whlch are material to the Trust's actIvit. At l Aprbl 2025 Resources expended TransfetsGalns and losses At 31 March 2016 Property Fund 5.919,083 110.9951 1708.7531 75.221 5,274.556 Previous year: At l April Z024 TransfersGains and losses At 31 March 20Z5 expended Property Fund 5.928,592 110.9661 1,457 5,919,083 The designated fund represents the net btx)k vbalue ol the Trust's fixed assets. which have been Set aside in a separate fund to detnonstrate the true "free" unrestricted fund5 of the Trust. ThÈ Trust'5 fixed a552ts are considÈrÈd to be intÈ8ral to it5 activit1È5, and the sale or disKx)5al of thÈ5e to provide funds foT day to day Tunning is not preferred as this will limit thÈ amount of housingthat tan be PTovidÈd. Transfers take p18ce to ensure the value ol the designated fund equalsthe ix)okvalue of fixed assets at the year end. 18- Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 20 Unrestrlcted funds The unrestricted funds of the charity cornprise the unexpended balances of donation5 and grant5 which are not subject to specific conditions by donors and grantors a5 to how they may be used. These include de51Enated fund5 which have been Set aside out of unrestricted fund5 bythe trustee5 for 5peofic purposes. At l April 2025 Incomin¥ Resources resources expended Tran51e At 31 March 2026 General fund5 435,172 238.977 1167,7601 708.753 1,215,142 Prevlous year: At l April 2024 Incoming Resources empended Tran5fer5 At 31 March 2025 General funds 328,417 225.430 1118,6751 435,172 21 Analysls of net asset5 between fund5 Unrestrkted fvnd$ general 2026 Unrestrlcted funds Desl8nated 2026 Total 2026 At 31 March 2026: Tangible assets Investrnent properties 269,888 5.963,891 188,5731 1870,6501 269,888 5,963,891 1,126,569 1870,6501 L215.142 1.215.142 5.274,556 6,489,698 Unrestrkted Unrestrfcted nds funds general Designated 2015 20Z5 Total 20Z5 At 31 March 2025= Tangible assets Investment properties Current a55et5111iabilitiesl 280.414 5.638,669 834,955 1834,9551 280,414 5,638,669 1,270,127 1834,9551 435.172 435,172 5,919,083 6,354,255 19- Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7
THE THOMAS SCANLAN TRUST NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026 22 Contlngent Ilabllltles Under the'old. Money Back Guarantee condition5. if the life expectancy of a tenant on a discounted lease is less than 10 years at the year end and 15 Wlthin the first 10 year5 of the lease. a provision Is calculated to reflect the payrnent that 15 anticipated if the resident dies within the first 10 years. 11 the lrfe expectancy ol the tenant is more than 10 years at the year end and is within the first 10 year5 of the lease, a contingent liability is included to reco8nise the amount5 that woul(J potentially fall due if the tenant were to d* within the first 10 year Under the 'new' conditions, the lrfe expe¢tan¢y of a tenani will be 8ter ihJn the term of the guarantee and $0 a contingent liability will be di4losed for potefitial am(wnts due for all lrfe inierest leases. At 31 March 2026. the iotal contin8ent liability is calculated to be £390.15112025-. E506,tx$31. 23 Related party trar15artions There were no diKlosable related party tran$8rtions durin8 year12025- nofiel. 24 Cash 8enerated fr0m1labsortd by) operntior 2026 2025 Surplus for the year 13S.443 97,246 Adjustment5 for: Investment income recognised in statement of fin¥ncial artivilies Falr value 8ains and1055e5 on investments Depreciation and impairment of tangible lixed assets 142,2281 175,2211 10.995 143,8541 11,4571 10,966 Mo¥emerts In workSn8 capltal: Ilncrea5el/decrehse in debtors Increase/ldecreasel In creditors Increèselldecreasel In deferred income 16381 205 42.451 630 16,7951 1114,5381 Cash generated fromllabsothd by) operntbons 71.007 157,8021 25 Analys15 of changes In net funds The Trust had no material debt duringthe year. -20- Doc ID.. 854db31760eOa116faOae4848a787839cf463ec7