Charity Registraknon No. 1174197 Company Registration No. 10778305 (England and Wales} PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT AND AUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr D L F Cawdery Mrs C C Campbell Mrs N Lee Mr C Bennett Mr R J Pringle Mr E T O Adamson Ms J Rock Rev P D Homden lappoinled 10 December 2024) Mrs S E Powell lappoinled 10 December 20241 Rev M S P Willis (appointed 10 D8cember 2025} Ms A C Tyndall (appointed 17 September 20251 Mr N C Johnson (resigned 10 December 2025) Mr R Allam (resigned 10 December 20251 Secretary Miss F C Tasdelen Charity number 1174197 Company number 10778305 Registered office Moran House 1 Holes Bay Park Sterte Avenue West Poole Dorsèl 8H15 2A4 Auditors Saffery LLP Midland House 2 Poole Road Boumemoulh BH2 5QY Solicitors Lester Aldridge LLP Russell House Oxford Road Bournemouth BH8 8EX Investment advisors Evelyn Partners 25 Moorgate London EC2R 6AY Bankers Barclays Leicester LE87 2BB PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE) CONTENTS Page Trustees report Statement of trustees, responsibilities Independent auditorfs report 9-12 Consolidated Statement of financial activities 13 Consolidated Statement of financial position 14 Consolidated Statement of cash flows 15 Notes to the accounts 16-37 PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025 The dir6ctors and trustees present their annual report and the consolidated financial statements for the year ended 31 March 2025. The accounts have been prepared in accordance with the accounting policies sel out in note 1 to the accounts and comply with the Charity's Articles of Association, the Companies Act 2006 and Accounting and Reporting by Charities.. Statement of Recommended Pfactice applicable lo charities preparing their accounts in accordance with the Financial Reporting Stsndard apptscable in the UK and Republic ol Ireland IFRS1021 leffeclive January 20151. Ob ectSves and activities The objeels clause in the companys Articles of Association slates: lal To advance physical, mental and spiritU81 health through the provision of care, facilits'es. services, support and practical advice Ibl To relieve financial hardship amongst older persons and persons of any age suffering from a physical or mentsl illness or disability 1¢) To promote equality and diversity by.. Thè elimination of discrimination on the grounds of age, dis8bilily or mental Of physical health Advancing education in and faising awareness of equality and diversity Promoting activities lo foster understanding betr4een people from diverse backgrounds Cultivating a sentiment in favour of equalrty and diversity Idl To promote the inclusion of people who are excluded from $o¢lety or parts of society by reason of their age. ill health or dlsabillty lel To provide or assist in the provision of faulities in the interests of social welfare for education, Ihe advancement of health, recreation and leisure time occupation with th8 object of improving the conditions ol life for residents of the areas selected by the Iruslees If) To research or to support or commission research inlo care for older persons and p&rsons suffering from a physical or mental illness or disability and to publish the us&ful re$ull$ of such research as praclical expre$$ion of Chdstlan love and ¢ompa$$lon al Statu$ The Prama Foundation is a charity and a company limited by guarantee. It is head of a group of charities under the trading name of "Prama". These include Pramacare, a home care provider, PramaLife, a provlder ol care and support within the cornmunily and Prama Services, currently used as a Iraining provider. There are two further companies, Prama Trade and Abba Care. Both are currently dormant bul held for if there is 8 need for future development. The Foundation owns 100010 ol its $ub$idiarie$ and appoint the D1￿ClOrS. The chair of each $ub5idiary musl be a director ol the Foundation. The work of the subsidiaries each contribute lo the core Christian mission of the Prama Foundation which has the objective of supporting people, primarily across Boumemoulh. Christchurch and Poole, to live with dignity as they age. Each component part of the group now has focus on specific areas of work that can largely fit under the banner of a 'life course approach to ageing". Achlevernents and Perfomance The Foundations role is to support the development of and Cothordinale the activities of Pramacare and PramaLife with the vision lo be a beacon of Christian care, compassion and support to the people of Dorset. The following strategic themes underpin Ihe development of both Pramacare and PramaLife.' 11 Delivering for today whilst planning for tomorrow. 21 Continuous improvement for our services. 31 Advancing strategic and productNe partnerships. Increasing influence. role and repulalion. 41 Safeguarding the security and ￿SI11en¢e of Prama. 51 Sustaining our Christian identity. 61 Valuing each other, in specific referen¢e to our staff and volunteers. tearn. PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025 Achiovomonts and Perfomiance Continued Pramacare is the original charitable service Prarna set up in 1982. to provide quality domiciliary care support to local older adults and is still defined by ils mission lo support our Gommunity by delivering Irust8d services Ihat reflect our values ol respect. compassion 8nd falth. During 2024125 Pramacare supported 143 clients in total {2023124.. 3341 with quality domiciliary care. In achieving this Pramacare employed 84 much valued care staff {2023124.' 1061. Pramacare also supported 1.549 clients wlh their nail care12023124'. 1.3611. PramaLlfe was developed as a charity in 2017 to develop community-based activilles to enable older adults and carers to lead independent and fulfilling lives. PrarnaLif8 works across Boumemoulh. Christchurch and Poole and East Dorsel delivering a range of group a¢tivilies and one lo one support. including support group$ for people living with dementia and ¢8￿r$ and befriending services. By 2024125 PramaLife had developed a network of 71 support groups as well providing variety of one-lo-one svpport for older adults and carers, including a voluntary car drivers scheme in East Dorsel. befriending and mentoring support for carers and support for older adults recovering from illness and injury al home. PramaLife supports just over 2.000 people each yèar. Underpinning all of this is Prama's ethos to follow the example of Jesus Christ. who showed care and love in a practical way. As a non4enominalional group of Christian charities. the Prama group is committed lo helping people, regardless of creed. culture. or beliefs. We understand that each person we support is an infjividual and we seek to provide compassionate support, giving dignity and respeGI. The Prama Foundation supports both Pramacare and PramaLife lo achieve their charitable aims by providing fundraising and a variety of business support e.g. HR and IT support. The charitable aclivilies of PramaLife are funded through a combination of local donations, fundraising events, and applications lo charitable Irusls. Both oharilies also benefit from the income of Prama's charity shops and legacies from individuals. The aim is to develop our fundraising capacity in the long term.. however, we recognise that this musl be done with integrity, rooted in our Christian values. The Prama Foundation also has a strategic role to work with BCP Council and other local partners to develop the Bournemouth. Christchurch and Poole IBCP) conurbation as an Age Friendly community with the World Health Organisalion IWHOI. The Foundalion Is taking an active role. our Programmes Director is Vice Chair of the steering group and we aclively support a number initialives to ensure that the BCP area is Age Friendly. The￿ is synergy between what the Foundation is seeking to achieve as a Charity and an Age Friendly community which has its aim.. A place that enables people to age well and live a good18ter life. Somewhere that people can stay living in their homes. participate in the activilies they value. and contribute to their communi(ies, for as long as possible. With involvement of the Prama Foundation, the BCP Age Friendly partnership has delivered the following projects during 2024125- Transport: Local transport providers. including More Buses and SEDCAT (the local transport charity) have received Dementia Awareness training to better support their passengers and ensure that as many people as possible can continue lo aC￿sS the place5 they want. We are now exploring whether transport providers can support local care homes, so that some of the residents can get and about their local communities. BCP Council are improving the opportunities to safely walk, wheel and ride in their green spaces. An example of this is the cycle track at Whitecliff in Poole. Older residents are able to enjoy resurfaced pavements, and the addition of the separate cycle lane means improvement of experience for both pedestrians and cyclists. PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025 Achievemènts and Pèrfomiance Continued Housing.. In December 2022 the Age Friendly Social Housing Programme was launched by the Housing Associations Charitable Trust IHACTI partnership. This is a community investment initiative targeted at connecting social housing and communitie5 that are Committed to building better places and seNices for ageing populations. The two-year programme developed a local partnership in BCP. 11 was facilitated by a local project Cothordinalor to ensure that the principles of Age Friendly Communities were embedded with local partners. Local housing providers have come together to explore how the accommodation they provide can be enhanced for older adults, e.g. with its wamith and the provision of communal spaces. Age FrlendSy Arnbassador$.' The partnership has recruited 15 Age Friendly Ambassadors representing different communities of older adults across BCP. The Ambassadors ensure that local older adulls are kept up lo date with development5 and Consult with them about Iheir needs and aspirations. which are then fed back to the partnership. An aim for 2025126 is to support more employers to b8come Age Friendty Employers. Flnancial Review Following its incorporation on 18 May 2017. the Prama Foundation look ownership of the subsidiary companles for which it was created as parent. The charity was established wlh ils own funds from within the group and the consolidated results include the subsidiaries, activities. Following ils incorporation, the charity received a gift of investments from ils subsidiary Pramacarè. which had previously been given lo Pramacare as an expendable endowment lo use for the expansion of aclivits'es that benefit older people. The broader objects of the Foundation a￿ more compatible with the purpose of the endowment and the fund continues to provide a capital base for the charity. The nel result at 31 st March 2025 for the charity leaves the expendable endowment fund with a balance of £33,74712023124'. £33.021), and the unrestricted reserves at £33.15612023124.' £39,822). The consolidated income and eX￿ndItUre account shows funds carried forward of £1,313,457 at the end of the period12023124.' £1,447,190), of which £66,903 relates lo the charity12023124.' £72.8431. The nel operating deficit for the charity was £6,666 for the period (2023124.. deficit of £1,032). Ro$uIts The results for the year, the slate of the charity's affairs and transfers betsveen the restricted and un￿striCted funds are shown in the attached financial slalemenls. Fundralslng The Prama Foundation undertakes its own fundraising activities and does not use the services of a professional fundraiser or commercial participator. In doing so it provides infomiation to individuals who express an interest in donating lo the charity or leaving a legacy bul it does not directly canvass individuals for fundraising purposes. The charity has not at this time signed up to a voluntary fundraising regulation scheme or standard. During 2024125, no compSainls were received in respect of the charity's fundraising aclivilies. PRAMA FOUNDATION {CHARITABLE COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025 Flnancial Review Continued Investments The charity's investments are held in the Charits'es Propety Fund managed by Savills Investment Managemenl. During 2024125, no withdrawals have been completed. At 31 March 2025 the investment unit5 were valued at £33.74712023124.' £33.021). During 2023124 there was a gain on the underlying value of investments of £726 12023124.'1oss of £1,957). Olher investments within the group are held in listed stocks and shares. Currently the trustees, policy is lo invest as much cash as is not needed for current working requirements with Evelyn Partners and allow the fund managers to choose investments for a balanced return with medium risk. There is currently no specific limilalion for social, environmental or ethical inveslrnenl purposes, the Iruslees havè confirmed during 2024125 that the nature of the investments held is consislenl with the nature and purpose of the Prama Foundation. Reserves pollcy During 2020121, the trustees completed a full review of the reseNes policy of the Prama Foundation and its charitable enlilies. During which, Iru$tees Confimed that the ongoing requirement for reserves is to provide for the long term need for working capit81 as a result of the monthly invoicing cycle. provide for short term ftuclualions in income from trading, donations and grants. and provide sufficient resourc8 if the charity should close. The Reserves Policy was further reviewed by the truslees on 17 July 2024 where il was agreed that the group should hold reserves of £595,000 made up of the following amounts held by th¢ individual charitses,. The Prama Foundation.. £30,000 (previously £96.500) Pramacare.. £475.000 {no changel PramaLife: £90.000 Ino changel The Prama Foundation unrestricted res8rv8s on 31 March 2025 stood at £33.15612023124'. £39.822). Th8 difference between reserves held and the level of reserves as sel out in the reserves policy has been noted by trustees and the budget agreed for 2025126 takes account of Ihis. Pramacare unrestricted general funds stood at £570,568 on 31 March 202512023124.. £703,599). The difference between reserves held and the level of reserves as set out in the policy has been noted by the trustees and after consideration of the challenging conditions facing Pramacare it was determined that retaining a higher16v81 of reserves in the short tem was appropriate mitigation for this risk. PramaLife unrgslricled funds held at 31 March 2025 of £87.70312023124.' £112.666) this is in line with the level of reserves requirod. PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financial Review Contlnued Note 28 to the accounts identifies those funds that can only be realised through the sale of tangible fixed assets and inveslmenls. The charity's group unrestricted and undesignaled funds amount lo £725,749 {2023124.' £882.8461. Flxed assets Full details of movements in tangible fixed assets are set out in note 17 to the financial stslements. The Prama Foundation does not hold any fixed assets in ils own name. Sources of funding The charity derives ils income from donations and grants from olher charilies and trusts. Further funds are generat8d in the group from charity shops selling donated go¢xls. and from investment income. The charity shops are held in the subsidiary PramaC8re bul the twslees policy is lo donate all profits to the Prama Foundation for wider use in the Prama Group. Any profits general&d from other charitable business operations in the group are normally retained within the relevant subsidiaries, PraMaGa￿ and PramaLife. From 1 st April 2018 any profits generated by the trading subsidiaries PramaTrade and Prama Services are gifted lo the Prama Foundation. Remuneratlon pollcy None of the Iruslees receives any remuneration or benefits. A number of management and administrative staff are jointly employed by the Prama Foundat6on, Pramacare and PramaLife and from 1st April 2018 staff costs have been apportioned to the Prama Foundatlon In respect of the management of tha charity, oversight of group operations and fundraising. The remuneration of the senior management team is sel by the trustees having regard to market rates, experience needed and the degree of responsibility h81d. Em lo e Involvement Mechanisms are in place lo ensu￿ that the staff team a￿ consulted wlh conceming issues which affect their employment. The charity seeks lo give full and fair consideration to all applications for employment made to the charity by people Ilving with disability and make efforts in respect of the continuing employmenl and training of employees who may become disabled while employed by the company. The charity seeks to introduce, maintain and develop arrangements involving employees. providing systematic relevant information, undertaking regular employee consullalion and providing necessary training and career development lo all staff members. structure Governance and Mana ement The organisalion is a charitable company limited by guarantee. incorporated on 18th May 2017, and registered as a charity with the Charity Commission on 9th August 2017. The company was formed under a Memorandum of Association which established the objects and powers of the ¢haritable company and is governed under ils Articles of Association. Under the terms of Ihe Memorandum of Association each member of the company guarantees to contribute £10 towards the assets of the company in the event of its being wound up while helshe is a member, and towards the costs, charges and expenses of winding up. None of the tnjslees have any beneficial interest in the company. PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 Structure Governance and Mana ement Contlnued The trustees, who are also directors for the purpose of company law, and who served during the year were.. Mr D L F Cawdery Rev P D Homden {appointed 10 December 20241 Mrs C C Campbell Mrs S E Powell lappoinled 10 December 2024} Mrs N Lee Rev M S P Willis lappoinled 10 December 2024} Mr C Bennett Ms A C Tyndall lappoinled 17 September 20251 Mr R J Pringle MT N C Johnson {resigned 10 December 2024) Mr E T O Adamson Mr R Allam (resigned 10 December 2024) Ms J Rock The Prarna Foundation has a board of directors which recelves recommendations and infornialion from two sub-committees focussing on.. Pramacare (The Board of Pramacarel PramaLife (The Board of PramaLife) The chair of each Committee is held by a director of the Prama Foundation and these make recommendations to the full Board of the Prama Foundation. During the year, the directors, who are also chanly trustees. established policies that were then implemented by the senior leadership team who was responsible for the employment of staff that carried out the objectives of the company. New direclorltruslees are appointed followng a review of skills by a nominations sub-commillee. Each trustee elected observes 8 board or sub-commillee meeting before final decisions are taken on appoinlmenl. The nominations sub-commillee report to the board. Persons considered to be able to offer pa￿'cular expertise to the charity are given a Trustee Handbook and Strategic Plan and receive a full explanation of the purpos8S, eth05 and practices of the Prama Foundation befo￿ being invited to serve on the board. For the 2024125 financial year, day lo day managemenl of the charity was delegated to the senior lead8rship team who are directed by the Managing Director. Rlsk assessrnent A risk register is maintained to focus on specific areas of the organisation's activities and is reported to th8 Prama Foundation board on a regular basis. During 2023124 this process was strengthened through the introduction of a Board Assurance Framework. The principal risks of the charity relate to: a) Maintaining good govemance.. For any charity ensuring quality governance of the organisalion is a PTiority. During 2024 Revd Nick Johnson retired as Chair of Ihe Foundation lo be succeeded by David Cawdery. an existing trvstee, lo ensure a seamless succession and effective govemance. bl Maintsining funding streams: The Prama Foundation raises funds for its own 8clivities from a variety of sources but is dependent on trading surpluses and voluntary income to cover the costs of administration and govemance of ihe group. Financial perfomiance and cash flow are monitored centrally to ensure that rinances are managed effectively. PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Risk assessment Continued ¢) Ensuring that the Prama group of charities relain their Christian identity.. Prama was developed as a Christian charity and we are proud of what we have achieved since 1982. We recognise that the majority of our staff, volunteers and clients are not praclising Christians. however they lo are proud lo work for a charity which Is underpinned by Christian ethics and values. We musl always ensure that we explain our ethics and values clearly and they continue lo underpin our approach lo caring for and supporting people. in an increasingly complex world. Prama's Head of Retail & Facilities is the designated Health and Safety officér. Publlc Beneflt The trustees have given due regard to public benefit Nthen planning the charitys adivilies. in accordance with sections G2 and G3 of the Charity Commission's General Guidance on Public Benefit {January 20101. The paragraphs in this report sel oul our activities, achievements, and performance dufing the year, which are directly related lo the objects and purposes for which the charity exists. The charity achieves its principal objects and purpos8S through care lo any members of the public in the local community who have needs arising from a physical or psychological infimity. These benefits are directly related lo the aims of the charity and are fully compliant Trmlh Principles 1 and 2 of the Charity Commission Principles on Public Benefit. Auditors Saffery LLP ar8 auditors lo the charity and in accordance with Section 485 of the Companies Act 2006 the trustees will propose 8 motion re-appointing the auditors al their annual gen8ral meeting. Dlsclosuro of Information to audltors Each of the directors has confirmed that there is no information of which they are aware which is relevant lo the audit, bul of which the auditor is unaware. They have further confirmed that they have taken appropriate Steps to identify such relevant infomialion and to establish that thè auditors arè aware of such information. On behalf of the board of trustees Mr D L F Cawdery, Chair 11th December 2025 PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE} STATEMENT OF TRUSTEES RESPONSIBILITIES The trustees. who are also directors of the Prama Foundation {Chantable Company Limited by Guarantee) for the purpose of company law. are responsible for preparing the Trustees, Report and the accounts in accordance with applicable law and Uniled kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the trustees lo prepare accounts for èach financial year which give a true and fair viéw of the slate of affairs of the Charity and of the incoming resources and application of resources including the income and expenditure. of the charitable company for that year. In preparing these accounts. the truslees are required to.. select suitable accounting policies and then apply them consistently., - observe the methods and principles in the Charities SORP.. make judgemenls and eslimales that are reasonable and prudenl,. slate whethèr applicable accounting standards have been followed. subject lo any material departur8S disclosed and explained in the financial statements.. and prepare the accounts on the going concem basis unless il is inappropriate lo presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy al any lime the financial position of the charity and enable them to ensure that the accounts comply with the Compariies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions. PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF PRAMA FOUNDATION {CHARITABLE COMPANY LIMITED BY GUARANTEE) Opinion We have audited the financial slalements of the Prama Foundation Ilhe 'parenl charitable company'} and ils subsidiaries Ilhe 'group'l for the year ended 31 March 2025 which comprise the Consolidated Sialemenl of Financial Aclivilies, Consolidated Statement of Financial Position, Charity Statement of Financial Posillon. Consolidated Statement of Cash flows and notes to the financial stat8m&nts, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102. the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepled Accounting practi￿). In our opinion the financial statements: give a true and fair view of the state of the affairs of the group and the parent charitsble company as at 31 March 2025 and of the group's incoming resourc8s and application of resources. including ils income and expenditure. for the year then ended: have been properly prepared in accordance vAlh United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the rèquirements of the Companies Act 2006. Basi$ for oplnlon We conducted our audit in accordance with Intemational Standards on Auditing {UKI {ISAs (UKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audil of thè financial slalemenls section of our report. We are independent of the group and parent charilable company in accordance with the ethical requirements that are relevant lo our audit of the financial slalements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basi5 for our opinion. Concluslons r6latlng to golng concern In auditing the financial statements, we have concluded that the Ifusle8s' us& of the going concem basis of accounting in the preparation of the financial slalements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectiveEy, may cast significant doubl on the group Of the parent charitable company's ability to continue as a going concem for a period of al least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect lo going concem are described in the relevant seclions of this report. Other information The other inforrnab'on cornprises the infomialion included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial slalemenls does nol Gover the other infomialion and. excepl lo the extent otherwise explicitly staled in our report, we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other inform81ion and, in doing so. consider whether the other infoThation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such malersal inconsislencies or apparent material misstatements. we are required to delemine whether this gives rise lo a material mi5Stalement in the financial slalements themselves. PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE) If, based on the work we have performed, we conclu(le that the￿ is a material misstatement of this other information we are required lo report that fact. We have nothing to report in this regard. Othor matters pre$crlb•d by thè Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Truslees, Annual Report which includes the Dirgclors. Report for the financlal year for which the financial slalemenls are prepared is consistent wilh the financial slalemenls., and the Twstees. Annual Report which includes the DIr￿tOrS. Report has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exception In the lighl of the knowledge and understanding of Ihe group and the parent charitable company and thoir environment obtained in the course of the audil, we have not identified rnalerial misstatements in the Trustees, Annual Report. We have nothing lo report in respect of the following matters where the Companies Act 2006 requires us to report lo you if, in our opinion- adequate a¢￿UntIng ￿cOrdS have not been kept by the parent charitsble Company. or retums adequate for our audit have not been received from branches not visited by us., or the parent charitable company financial statemen1$ are not in agreement wlh the accounting records and returns.. or certain disclosures of Iruslees. ￿muneratIon Spe￿rIed by law are not made.. or we have not received all the infomialion and explanations we require for our audit. Responslblllties of trustees As explained more fully in the Truslees. Responsibilities Statement sél out on page 8, the trustees (who are also directors of the parent charitable company for the purposes of company law) are responsible for the preparalion of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Iruslees determine is necessary to enable the preparation of financial statements thal are free from material misslatemenl, wheth&r due to fraud or error. In preparing the financial ststements, the trustees are responsible for assessing the group and the parent charitable company's ability to continue as a going concern. disclosing. as applicable, matters related to going concern and using the going concem basis of accounting unless the Iruslees either intend lo liquidate the charitable company or to cease operations. or have no realislic allemative lo do so. 10- PRAMA FOUNDATION {CHARITABLE COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF PRAMA FOUNDATION (CHARITABLE COMPANY LIMITED BY GUARANTEE) Auditor's r•sponslbllltl•s for the audit of the financial statements We have been appointed as auditors under the Companies Act 2006 and report in accordance with regulations made under that ACL Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delect a material misststemenl when il exists. Misslalements can arise from fraud or error and are considered material if. indlvidually or in the aggregate. they could reasonably be expected to influence the e￿nOmiC decisions of users tsken on the basis of these financial stal&ments. Irregularities. including fraud, are instances of non