fjRO BUSINESS ADVISORS St Mary Magdalen's Hospital Almshouse Charity Financial Statements For the Year Ended: 31 December 2025 Registered Charity No: 1165641 CHARITY CIX4TElmOF ThE FINAP4CIAL￿AIEME1lfs FOR THEYEAR ENDED 31 OECEM8ER 2025 fteportOftheTn￿1eeS I to 3 BalanteSh¢¢t Notssto the Fknanthlstatanenis 7 to 16 17 ST MAAY MAGDALENS H05prrALALM511¢XISE CHARITY AEPORTOFTHE TRUTrS FOR The YEAR ENDEO 31 DECEMBER 2025 The Tn￿re05 present thelr report alon8 wth tht financial statements of the d4rity lor the year ended 31 De￿mber 2024 trustees have adopted prabislons of the Statement of Recafflmended Prartlce IS0RPI"A(cr￿tinS and Reporting by Charides" In preparfn8 the anM•l rewt •nd finandèl Smernentsofihe th•rlty. The flnanthl st•temMts beth ￿Partd x(0rd￿¢+ T*tth the actWntS￿ pJkles set out In notés to th• accounts orb pages 7. 8 and 9 and tomth the chartty's 8tr4emln8 do¢umÈn¢ the Ch•rltles Att 2011 ar4J A¢¢ountlni al￿ Reportlni by CharlUek' Statefflent ol Recommended pract7￿ applKable to (h•rftles preparing thelr accounts In 4¢¢ordance th th• Flnancial Rewdn¥ Standard applicabje In the VK and RewblKoI Ireland pub115hed In tober 2019. owecTrvESANDAcmirnES Qblertl¥es and The oblect ol the Ch•rlty Is the prtrAslon of almstr￿ ￿ land bekn8*q to the tharfty for the benefit of resldents who* quallfl£atkJn shall be poor ￿n￿le persons of 8ood ch•r•¢thr. The Tru5tet5 h*e de¢lded to fvrther restrkt thls qualiflcatlon to persons with beamln8 d￿3￿1￿leS except In spedèl cases to be appr￿ed by the u￿rfty Commb551oner5, Ire Inhabftantgof Cokhertw. Appll¢•tlon•lln¢•m• The nét Income shall be applled first to repalr. Insure Jnd meet *ll other ou4olnp In respect of thè Chadtvs opertle5 and 911 propw costs of the thirlty's admnt5trttlon ind m•rw8ernenL Th•r•¥fter Income sh•ll b• •ppI￿O f¢rtt* b•nefitofthe •knspÈ¢pk•ottheOurlty. The Ch•rfty curr•ntty slx fl•ts 11% •kn Is to th•$4 •$ l•r as poMlbl• to meet th• obJ•¢tfves of the C￿rfty ind promote lThdopwdent Publk b•n•fft The actlvltles ot the Charfty ar¢ consldered io be lor the ben¢f* In T￿￿1n8 the Chrlty the Tfustees hav• ard lorth* Chartty COMMI￿￿ 8uld**e on publk benéfft. ACHIEVEMEKtS AND PERK)RMANC Charf¢abl4 8ctl¥llles The charjty conVnu¢s 1¢ WO￿ ¥Ath the r¢sldenu throulh regu￿1 ¢ommunkatkns. Includlng trustee ￿sIts. harfty contlnues to conshjer the rocommenthtlons ol the q￿￿￿nE?1 surby and Im￿rnent them *thert consldered ne￿ry. Th¢ ¢harlty h•$ Complied wilh the H•Jsin8 OmWsm•n's Compl•lrtts H•nthi￿ Code throughoui the year and has submltted • self-assessment rewt co¥erlng the perSod tst January to jtst Decernber 20ZS. • copy of wthlch Is a¥allat4e on requesL the year ended 3tst December 2025 we fecel¥*d no fornial complalrrt5. and no ca5 re relerred to the Independent H(wlty (knb RNANCIAL REVIEW Hnandol poslllon The CharitV5 fin•n¢i•l posttkn b•ssrt+>Jt In the ￿IK+she￿tOrt p4•6•hd Is ￿nsId¥¢d satiif•¢tory. The Charfvs pollLV on r**1￿5 bs to suffldeftt res•w¥ts to e￿ble the amrlty to (onlJThJt to •th6•v• hs nclpal (kniecE￿s. FOR THE YEAR END£D31 DECEMBERYJ25 The charty wll contknue to Imprwe the OF *$ awr¢nt hoLtsing Ine with retommerthtions from professiorwl advisor Governlng document The tharfty is a Charitable Incorporated Organ￿10ft 10018o¥*med by a c¢x)rtMfjon reglsiered by the (har6ty Cthnmlsslon on 18 Febwary 2016 and as amended by￿11t￿l rÈsolut*)ns dated 5 NobErnber 2016, 23 Marth 2019, JO December 2019. 21 November 2022 and 11 May 2Q4. The Charity ts a Re8tstered Sodal Htyjslng pr¢￿Ider. re8Ntration nurnberA4089. Recrultsmnt and appotntshent of newtMstÈes As Wdcanoes for Trustees ar￿ aP￿￿at1)n5 are SW from F*Aential candhlates known to the Trustees and other suitable local peopl& Appli(ants are then (ons*JeroJ ty the Trustees and ap￿intments made ty re501ution of the Tntstees. Dayto day admlnlstraiion ofthecharityts tarried (rtrt bythe awk¥Jho rep￿tstotheTN$tee$. Inductton and tralnlnaolnv*trustees New Tnjsttts are briefed by the aerk and the ex1stryYn￿ on the hIS￿and athrytie5 ofthe Charity. They are provided ￿1th a mpy of the tharitycomm￿soon puWi0tl￿ Tr Essentlal Trustee" detsllin8 their re5ponybiltties ahd Pro￿dIng guidance on bein8 a Tnistee. NwwTrustees are prrffthjed T*ith a copy olthe Chadtystheme and the latest actounts. Reltted porU¢s There are M other charltles rel*ed ts the Salnt Mary klaRdakn'5 trh)5pltaL The aerk to the awrity is •tso aerk to other almshouse charitle The irustees have a duty to •Jentify and revw the risks to wthlch the thar6ty ts exposed to erhyJre appropriato controk 4r¢ in pl¥eiO woNid¢ reasonabieassuraho agaknstfr3ud aTrJ errw. REFERENCE ANDADMIN15TRAIIVE DETMLS Reglstered Charlty number 1165641 p￿r￿PaI address 286 Mersea Road C<4thester C02 Sqy C PÉ)ole (r￿N¢￿ 26nn51 Mrsv H￿inS Mts E 8ull Mrs Ssmtt Reverend A Da¥i5. Ch•r lapkKHnted 26ni251 Ms F Sea8erlappolnted 131111251 Iresl8ned 30lin61 MARV MAGDALeN'SHosprrALALMSHOUSE FOR THE YEAR ENDED 31 DECEMBER 3)2S REKRENts ANDADMINISTrATNE DErAis Slmon Wdling Tcfjtoup countsnts Town Wall House Balkerne Hill Cdchester C03 3AD Somdtors AnthonyC￿lI￿S Sdlcltors LLP 134 Edmund Street Bimilngham B3 2ES PO Box 250 5ke1rn*5dale WN8 6b aeth to thecharlty 150n Srnith ia6 Mersea ft￿d Colchester Essex C028QY Approved iworderof thebo¥d of in￿tees0Th 2 MayJ)26 and 5i8ned on its behalfbr. Twstee INDEPÉNDENT EXAMINER'S REPORTTOTHETRUSTEESOF Independentexamln*s wtyttod*trusteesrfStMwyM••hknS HOSW Abn$￿￿Se tharlty I report to the thèrlty tru#ees on my examina￿ of ￿ ¥counts of St Mary M*alen's Ih)5pltsl Ajmshouse (harfty lthÈTrustl fortheyearended 31 December 2025. Rwnslbllhles and ba*ofreptyt As the tharity trustees of the Trust you are resp(ffisible for the prepara￿)fi of actounts IA ac￿￿d)nce whh the requlrements ofthe Ch•riiiesArt 2011 ltheArtJ. l ￿port In respect of my examination of the TrusV5 ac£ounts caryied out urbjef Sect￿￿ 145 of the Act and in carryin8 out rny exomination I have falk*w*d all a￿k￿e [irecti￿ 8r¥En by the Charity Commlssion undersecknon 14515llbl oftheA Independent exarnlneesslatemert I have completed my exarnlnation. I confim that no material matters com? to attentioTh In canne£tion ¥￿th the examlnation gi￿n8 me ¢auseto beliÈ* that in matsrlal respÈ¢t'. actwfttinE record$ were not kept ift rwof theTwstas re4ulred bysethon 130oftheAc¢" the accounts do accord vAth those records,"or the accwnts do rwt tomply the apWirable re4ulrements tonceming theforni and conient ofaccountsset out In the Charltles lAtt￿nts and Rwrtsl Re8ulation5 2(th other than aTry requirement that the accounts ea true and falrblew*thkh &TrJta matter(onsk￿ a5 Wtof an 11th￿dente￿rnIn3tion. I have no concems and h8¥e c¢Nne across no ¢￿er matms in coMe£tb)n ¥Ath the e¥amlnatloTh to ￿lch attention should be drawn In this rnport In ordertoeroble a pr(4v￿rstandIngo[the3COwThts to be reached. &mon Welling Cerbfied Acc£wJrtsnt TCGroup kcountants Town Wall H•Jse Balkerne HOI Colthester C03 3AD 5 May2026 ATEMEP￿0F ANANCIALAcnvmES FOR THE YEAR ENDED 31 DECEMBER a125 2024 Total ds Totsl funds funds INCOMEAND ENDOWI*NTS FROM Almshouse acti¥lty 9n Invesbnent in¢ome 5.756 5,176 Total 44617 49.767 44,147 EXPENDIILIRE ON Charttablea¢tl¥lU Almsl¥)use actwity 12.065 Netgalns on investments 3255 200 3.017 NEf INCOME 769 15.1 Otherretaanlsed B•hM/l￿$S¢s) Gains on revaluation of fixed n2 722 19.210 14et In funds 37J27 91 34,292 REcoNauAIKJN OF FUNDS Total ful￿ brtyjght forward i.U3 824S38 I.￿8￿91 L103,799 TOTAL FUNDSCARRIED FORWARD 3A77 861665 L138.091 CONnNUIN6 OPEIIAIIONS All inajme and expenditijre ha$8ri5en from ¢onlixtirtBathit￿. The n(ts5 fonn part0fthe$efi￿ncIa1 ststerr STMARY MAGDALENS HOSPIYALALMSHOUSÉ CHARITY BALANCESHEET I OECfMBER 2025 2025 Totsl fynds 2024 Total fvnds Unrestrfcted funds Re5trkted fund5 Endowment fvnd5 Notts AXEDASSErs r•n8lble asset5 In¥esiment$ 1.012,401 2 121722 9￿.681 IQO,729 io 181000 861,665 1.134A25 I,¢)80,410 CURRENT ASSETS Débtors Cish It bink li 2A27 4,011 74 83 56.825 440 76.810 fy)￿36 CREDITORS Amounts f•lllnidu• vlthln on• vèar 12 13,J531 15JSal 13,1551 NETCURRÈMfA55eTS 73m7 73 TOTAL Assrfs LESSCURKNT UAeiLITIES 163.477 86L665 1,207J82 1,138N91 163.477 192 861665 07 1138 091 FUNDS Unrtsrrlct•d lunds Restrlcted funds Endowment fvnd5 13 163A77 182,440 131,113 182.440 TOTAL FUNDS 1,138.091 The fin•n¢lal $tat•m•nts wer• approved by th• eo•rd of Trustees ind authorlsed forlssue on 2 May 2026 and were $18ned on its beh•lf by.. S Scott Trustee E Bull Trustee The notes forn) part of these nnanclal statements MARYMAGDALENS HOSPITALALMSMOUSE CHARITY NOTES TO THE FINANCIALStATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 TrANSFER OF ENGAGEMENTS On l July 2023 the attlvlties. assets and Ilabllltles of the St Mary Ma8il&len% Hospltal Icharfty Reglstratlon Number 257508lwere transferred to thls Charlty. ACCOUNnN6 POUCIES a51sof preparfnqthe flnarKlal statements St Mary MaBdale#'s H05Pital Alm5hou5e Charity is a tharitsblE incorporaied or8aAiUtion in En8land Ilmited by guarantee. The tharlty Is n¢X belng wound up. The addre$$ of the re8lstered Offi￿ 1$ 286 Mersea Road, Cokhester, C02 8aY. The fIna￿la1 statements of the charlty, whlch 55 a publi¢ benefft entlty under FRS 102, have been p￿Pared irt a(￿rdance wlth ihe Charlfie$ 50RP IFRS 1021 'AccounUn8 and Reponin8 by Charl¢les'. Statement of Recornmended Practlce appllcable to charftles Prepar1￿ thelr accounts In accordance wlth the Flnandal Reporting Standard applieable ifi the UK and Republic of Ireland IFRS 1021 leffectlve l January 20191,. Nt)andal Reporting Standard 102 The Flnancoal Reportlng Stsndèrd appllcable In the U% and RepublKof Ireland, and the Charities Art 2011. For the purF05es of pre5er%tatlon the flnanclal statements are rounded to the nearest sterlin81£l and ale I￿(u$ve of Value Added Tax. The financlal statements have been prepared under the hlstorlcal cost conventlon, wlth the exception that hou5inR properbes are Included atvaluatlon and Investfflentswhlch are I[￿uded at marketvahje. Whllst thls charfty Is a Re8lstered ProvSder of Sockl Houslngi follo￿n@ the Issue of new SORPS lor both Charttles and ReElsterÈd Prwder5. these attourtts are prepared In accordante ￿1h the appllcable Charlty SORP IFRS 1021 slnce Its prlnclpal actlvltles are not gcverned by the Landlord and Tenants Att 1985 and are for tharitablepurpose Fund accountlnz Unre5trlcted funds can be used In ac￿rdance vAth the charftable oble¢iives atthedkcretlon of thetrustee5. Designated funds are unrestrlcted funds of the charfty whlch the trustees have declded at thelr dlxreuon to 5etaslde to usefor a 5peclfk purpose. Restrlcted lunds can only be used for partlcular restrfcted purpose5 Wthln the objert$ of the charlty. Restri¢tion$ arise when $pe¢ified bythe dottor orwhen funds are ralsed lor partbjlar restrkted purposes. PermanentendowrnentfvJnd5 are nanexpendable funds whkh are Normally held Indefinltety. Further explanatlon of the nature and purpose of eath fund Is Included in the notes to the flnanclal $t•t4m*nt$. Goln¢concem The accounts arè kvepared on a ¢on¢*m b•sls as ihere are no matwlal uncertalnttes about the Charlty's abllltyto contlnue. Income All in¢ome is reMni$ed in the St•tement of Fin8nclal Attlvltles once the charfty has entltlement to the fvjnds. It Is probable that the thcome wfjll be recelved and the arnount can be measured reliabty. CHARir¢ NOTESTOThE FINANCiILSTA1EMEPItS.coniknued FOR THE YEPSt ENDED 31 DECEMOER2025 lfiwrne In¢•me from 8o¥emment and other yants *rfth'opital' Trnts or're￿We' gran￿ 15 recoBnt5ed when the tharbty hè5 entidemeffl to the fvThAs. any w[oTman￿ conditbDAs attath￿ to the yants ha* been meL li is protsab￿ that the inwme wll be recev*d and the amountcan be measured reliab￿ and15 not deferred. For legacies. entitlement ￿ taken as the earf￿r of the date on ¥thkh elther. the Ch￿lty Is aware that wobate has been Rranted, the estate has been fifiaf￿ed and ha5 txen fflade ￿ the exeoJtorlsl to the tharlty that a distrib￿lOn 7*ry11 be made, orwthEn a dlsmkn Ls rec￿￿￿ fromthe e5tste. DonatloThs and other yo1￿lary knc(me are rellecthd in the accounts forthe perlod in vthtth thry are received. Dortatlons in kind are re¢W￿ed by the Charity when retèryed except in the Gl* ¢fseNtts provided free or undervalue by¥dvntarystsff orotherswthlth are not rellected In the acctyjrrts. Interest on lund5 held on depoyt15 induded when receivable andthe amount can be meawred rel41b￿ by the Charity.. this is nobltation of ts* interest paid or p•yable tr*Tthe ExpendKurt abilities a￿ re¢o8nised as ewdthre a5 as is a legal ￿ c4%4tnJrfi¥t obliBa¢bM tommitUn8 the ¢h•rity to that expenditure. it is wob¥We that ¥ transfer of eEofKJrnrr ben*fft5 ￿11 be requI￿d In Settle￿nt and the amount of the Obl￿atIOn can be measured relvabty. ExpeThI￿Ure 15 ac£ounted for on an XCDJals ba51s and has been dassw under headings that a£￿1￿¢ all ¢tsst related to tl* r4tetory. WTr*￿ ¢osts cannot be dIrett￿ att￿b￿le￿ to P3rtkn1ar tr*adI￿ they been al￿￿**d to a£￿¥￿￿e$ on a basts conststent Iwth the useol resour¢es. The thar8es In the Statement of Finan¢i•l Ackntles in res￿ of Cydlcal MaIntenar￿e and Extraordinary Repalrs reflect the Trustees. constsTht concem to keepthe rffOPer￿es In good condltloTh, I￿j are in acwrdan¢e th the Atmshouse kno¢iations' recomrnenda￿ that A￿nSh(￿se awr1￿ should set asbde eath year Specific 5urns in respEcL Transfu5 are made from the Re¥￿Ve Reserve eKh year to the Extraordlnary Repalr Resett￿ to tover extraordinary repairs as arise ahd to the Cirlical maIntenan￿ Reserve to cover rep31rswNth ariseon a cydcal b751 Supportcosts The Charity'$ g¢Y4Wrt•￿ ¢osts ¥¢ alknr•ted erfirdy to the Almshw Costs slhce ￿pport ¢osts rebdn8 t¢) otheractwttie5 are (ons*lered Immatwial. H•yJsln¥ P￿￿rtIeS The hou%ng proFertie5 are IIKI￿led kn the accounts at I￿1r tn5uTrrKe re1rlstat￿ vak*. Add￿lIonS after ¢h revaluatithi lie in¢kthlatcost until i fvrtherre1alu•￿affi. The houslng propwtles are not depredated as revaluatvjns are petsmed wlth suffident re8uladty to en5urt th•tihe ¢affOng4mounts ¥e tiotm•terHIty m&st¥ted. The cost of refuvb&hment and Impro*ments to the prop*ty are twrltie*) off to Re4enue ReseThe as In¢wrred. Any major 1my0b￿¢nts orexten$ionstothe proFerty •re¢apltalised. ST MARY MAGDALEN'S MOSP￿￿LAt￿5H0uS£ CHARIIY NOTESTOTHÉ RNANCIALSTATEMÉPnS-eoMUnued FOR THe YEAft ENDED 31 DECEMBER 2025 ACCOUNTING POUCIES- tontinu IrwoStmer Investments ore Shown on the Balance Sheet at thelr market volue. thanges In makn value durln8 an accountlnE perlod are reflected In the accouThts as unrealisedBalns or Ios5e5. Upon disposal of an inve5trnent the dlffeience betwee# ori8lnal wst and dlsposal proceeds Is refle¢ted In the accounts as a reallsed qoln or195S and an adjustment Is made to unreallsed Balns or losses to reverse unrealLsed movements In value In earller years. Oebtors Contrlbutlons and other debtors are recognlsed at the settlement amount due. Prep3yments are valued at the mount prepaid netof anytrade discounts due. Cash and bank arml hand Cash at btnk and cash in hand Include5 Cash and short teTm hlghty Ilquld Investments wlth a short matuwlty of three months or less from the dateol acqulsltlon or openingof the deposlt or slm51araccount. Credltorsand pM¥tslons Credltors and provlslons are re¢oBni5ed where the Charfty has a presen¢ obligatron resultih8 from a past event that ￿11 probably result In the transfer of funds to a third party and the amount due to settle the obliBation can be rneasv¥ed or estimated reliably. Creditor5 and provislon5 are normally reco8nised at their settlement amou*)t. Ananclal Ii)sirLiments The Charityonly has finandal assets and flnanclal Ilabilities of a klnd that quallfy 85 basic flnandal Instrun*nts. 8asi¢ finan¢ial instruments are initially recogfii5ed at transartion value and subsequently measured ai their settlement value. Taxatl The charlty Is exemptlrom tsx on Its charltable actlvltles. INVESfMEIITINCQME 2025 2024 Charifund Incorne dividends Accumulatlon share dividends re¢eNable COIF deposit account 3,365 142 756 STMARY MAGDALEN'S HOSPbTAL ALMSHOUSE CHARITY NOTESTO7HE HNANCIALSYATÉMENTS-continu¢d FOR THE YEAR eNDED31DecEMBER2025 INCOME FROM CHAArrABLE AcnvmES 2025 2024 Almshouse a¢tNIty Contributlons rece￿￿¢ Less voids 44￿11 41.230 2,2591 oll 34971 CHARITABLEAcnvmES COSTS Olrert Costs Isee rtote 61 Support costs (see note 71 Totak Almshouse actI￿ty 17.152 1&046 24198 DIRECT C0STSOFCNAR￿AaLt ACTNMES 2024 Vatsnt property¢harge Rates and water Imsuran¢e ght and heat Repairs aTrd maintenarKe Cy