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
C￿lIty reglstr•tlon
En8lJnd •nd Wales
Il62867
Reglstered olll¢e
19 Church St￿et
Uc￿le￿I
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
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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.
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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 p￿pared 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 li￿5.
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 balan￿5 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.
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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 deciS￿n$ 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 $ub¢tsmrn￿ee of Trustees annually with reference to the Charity Governance Code. The
review is then submited at a Tneeting of all Trustees and matters Tequiringattention are then dealt with.
We hold a Related Partles Register. ukxlaied annually. Twstees are requI￿d to declare any personal inierest ￿latIng io anv
agendè item prlor to each meetlng.
Plansforfuture perfod5
In the coming year the Trust would like to continue io k<us on its rental portfollo. funds permltting, in addltion with
continuing to update and modernise our properties as they become vacant and funds dictate. We will consider any request
from current residents to help with the cost of updating bathroom. kitchen, garden and fencing improvements.
We are reco8n15in¥ the need to adapt to the chan8in8 landscaFe of retirement and the requirements of existin8 and future
customers. To thi5 end we will continue to priorit15e our existing proFerties and our rentsl portfollo In the comln8 year.
Strutture. governance and management
Our governin8 document5 are the Trust Dee<l. lormulated as a ￿$￿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 e￿tting 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
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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 Inte￿51 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
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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 fina￿la1 statements of The T￿rn8S 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 Compan*s 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 resF*rt'.
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¥I￿rnents ol se¢tion 396 of the Companies Att 2006
other than any requirement that the fina￿1#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 I￿14￿￿ 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
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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.
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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
Trts￿ee
Mr R L Thompson
Trustee
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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
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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£kr￿Id. 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 fO￿seeable 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%
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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 dI￿rt provision of residential accornrnodation or to
the 5UPPOrt and governarice costs asx)ciated with the tTVSt'S artivities.
Included withln octwities undertaken. di￿rt￿ a￿ ge￿rnI 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 MeasU￿d 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 re5￿Ul1 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 deterrn1r￿d 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 ￿Co￿nIsed at cost,
which include5 the purchase cost aThd any d1￿CtlY attributable expenditure. Subsequently it is rnea5ured at fair value at
the reporting end dète. The surplus or deficit revaluation is ￿C0￿niSed 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-
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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 prO￿510Th5 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 r￿e1Vable 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 MeaSu￿d 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 obIlgat￿Ons 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 aAflI￿n£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 ￿QuI￿d to settle the p￿sent 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 Stra￿hr 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.
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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 pav￿Ck 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 reS￿erbts.
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￿[r*m*￿t 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. Re￿S10￿S 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 b￿h 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_
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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-
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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 te￿phOne
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 ￿M￿neratIOn 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_
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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 $8l•ries
Other pension costs
28.352
884
26,026
803
29.236
26,829
The Thomas Scanlan Trust recelve5 contributions from the connected 5eryice5 charge accounts to help pay for the
wa8es and 5alarie5 Wlthin the Trust. In the current year. the connerted service charge account5 contributed £24,478
12025 - £23,046). The balance within the Trust is the r￿t value that the trust ha5 had to pay towards the wa8e5 and
salary c05t5 and represents the true cost to the Trust.
There were no ernployees whose aThTrual remuneration was more than £60,lX￿I.
10 Galns and losses on Invemmerfs
Unrestrlcted
lund5
Desl8nated
2026
Unrestrlcted
fund5
DesS8nated
2025
Gainslllossesl arisin8 on:
Revaluation of investments
75.221
1.457
li
Taxotion
The charlty is exempt from taxaiknn on fts attivr(ies ￿Cause all its irKome Is applied for charitsble purposes.
15-
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THE THOMAS SCANLAN TRUST
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Iz
Tanglble fixed assets
Freehohl land
and ￿lIdIrt￿
Flxtures and
flttlnp
Total
At l April 2025
Addltions
360,668
9,696
470
370,364
470
At 31 March 2026
360,668
10.166
370,834
Depre¢latlon and Impolrm•
At l April 2025
Depreciation char8ed in the year
82,001
9,618
7,950
1.377
89,951
10,995
At 31 March 2026
91,619
9,327
100,946
C•rryln8 amount
At 31 March 2026
269,049
839
269,888
At 31 March 2025
278,667
1,747
280,414
The buildlngs and other assets owned by the trust are necessary for Its day ro day charitable activities. For thls reason,
the assets have been ring-fenced Into a separate designated fund to show that these monies are not realisable wlthout
havlng an impact on the trust's activr(ies.
13 Inve$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 res￿entS 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 ￿$1S of a valuation
rried out in February 2026 by Appleby Petfield Chartered Surveyors, who are not connetted with the Trust. The
valuation was made on an OF*n market value basis by relerence to market evidence of transattion prices for similar
properties.
16-
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THE THOMAS SCANLAN TRUST
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
14
Debtors
2016
2025
Amounts falling due within oneyear
Trade debtors
Prepayments and accrued Income
605
897
864
1.502
864
15 Credltor5: amountsfalllng due wlthln one year
2016
2025
14ote5
Delerred income
oiher creditors
Accrua15
17
88.573
165
6,198
81,817
150
6,008
94,936
87,975
16 ￿￿1t01$. 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_
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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-
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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
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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 fr0m1labsort￿d 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-
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