CAMBRIDGE VICTOIUA HOMES (CIO) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2025 CONTEKfs AND INFORMATION PAGB: TTUStees' AnlluaL Report Illdet*ndent Examinevs Report Statement of FillanciaI Activities Balattce Sheet Ststemont of Cash Flow Notes to the Financial Statements 8-13 TRUSTEES: A R Blake, (frea8urer) P Cowell WishaTL (Chair) J Davison R Harding J J(mes (resigrted 28102f2026) R MonK (President) M Wells TRUST ADDRESS.. 38 VictorA&Homes Vithria Road CambTidge CB4 3DX CHABJTY REGISTRATION NUMBER: 1177888 PTETrti5 & Co ILP 115¢ Milion R￿j CB4 IXE BANKERS.. Barclay5 BaDk Cambridge Branth St Alldtews Street Cambridg CB2 3AX INVEsT￿NT MANAGERS: ChBrl&s Stsnley& Co. Limtted 151 Floor 3 Ststioti Squp Cambridge CBI 2GB CAMBRIDGE VICTORIA HOMES (CEO) PAGE I FTNANCIAL StATEMEKfs FOR THE YEAR ENDED 3 1ST DECEMBER 2025 TRUSTEES. AKNUAL REPORT The trustees presenttheir annual rew¢ #nd fmancial State￿ellts ofth¢ CbaTityfor the year ended 3 1st December 2025. The financial statements bave E¢en prepared in accordance Thith the Rcwmling policies set otrt in note I to the accoutts and comply with th¢ ¢har&tys tryst deeiL the Chatities A¢1 2011 Accountillg and Reporting by Clmrities.. Staterneut of Recommertded Practice applicable to ¢bartties pwiog thetr occounts in accoTdmce with the Financia] iieportin8 Standard &pplic4ble in the UK Republic of ]re]and (FRS102) {eff￿llye l January 2019). I. OWECTIVES, ACTIVJTJES AND PUBLIC BEhTFIT The objccts ofthe Cambridge Viettiria Homes CIO are to provide subsidised accommodatio￿ &8sociated f&cilities and financial SUPEM)rt for the elderly and infirn over 60 years of age" in particular buÉ uot ￿luSIVe]Y to those who have PTeviously lived within 20 llllle8 Of Great Stmatys in Cambridge and rnemttTS of Friendly Societie8. The Charity maintsins 16 onE bedrooLU unfi￿￿s￿e1 bungalows to PTovide convenient aGcommodation for elderlyF¢ople in a Conmnunity setting. Th¢ bun8aLow5 are 5¢t iu attra￿1ve landscaped groullds, alongside allolments and apavilion whi¢h provide social facilities for the residellts, Tbere is a part time warden, but there is no provision for nut%ing or other ￿¢ servic¢5 because the aKommodation is pritDarity for those able to live independentty in the coromunity. The tTUS eneourage a positive sense of eommunity arLLongst the rE5id¢Dts. a5 5elf-belp 8nd independent living are recognised as in1port￿t elements for maintaiDiDg ahealthy lifestyl¢. The trustees confinD that they have referred to guidall￿ issued by the Ch4rtty Co[[￿￿1￿10ll on public beD¢fit wben r¢vi¢wing the Charitys aims and fvu]re plans. I STRUCTURE GOvERN￿cE AND MANAGEKE The Clwity origtTkally forn]ed under & trust deed dated 1837. In 2019 it T￿OnStitUted a5 a Charitsble Incoryjornted Orgallisation (CIO). charity regigtration number 1177888. The maT)agement of the Cambridge Victoria Homes is Unde￿￿￿bY a Committee of TrtLStees. The trLLStees meet every month. excluding August and Dece4nber, to agree the broad strategy and area5 of attivity for the trusL inclwling ¢owid¢ration of inv&sttllEllts, res¢rye5 aDd risk Ma￿age1￿ent policy aud perfonnance. The trustees appoint a ChairF¢rson trj chair the meetiD¥ of the Charty tru5ttcs ov¢rs¢e the general Thnniug of the CIO, as well as otheT officer positions as President and Treasurer. These officers are normalty ¢Xp￿t(￿l to serve for a term of & le&8t two years, zlld thi5 ran be extended at the disrtion of the Charty tTh￿tees. The day to day Dj￿illE of the Hon)es is ulldErtak¢ll by a time Secr¢W and Warden who are retnuneratedand report directly to the Committee. The Coromittee keeps under review the skill requxrfflnents of the Charty. It ensures thal in the event tbat a Trustee Tetires or additional tsiL8tees are required, new tTWtees have skills th* are abl¢ to contribute towards acbieving the Chws objectives. No other organisation m8kes any wintmerts to the C0nllni￿ aud th¢i5iQDS about D¢Wtnth5 ate made solely by the CotEllllirte The induGlion proce55 for Jllynewty appointed TnLdee comprises a meeling with the chajtpers0￿ introduction to residents. and provision of copies of the CIO'S CoDstitytiO￿ operational guidelines. ￿licieS andthe last two y¢ars fjnancial stat¢￿ents. 3. ACHIEVEMENTS ATriD PERFOILMANCE Th¢ Cl)arity achieved its key objective to provide subsidised aceomTniMtstii)D foTthe elderly during the year. The results for the year are considered to be satisfactory alld bToadly in iiDe with tbe anticipated budget. On¢ aceonll)iodation vacalley occllr￿d iu Septetniw 2025 following the death of ODe of the residents. Another resident zrtsferrcd to the origxnal vdcant propety in December 2025 andthe resu]ting vacant Propety w&% filled in JatLuary 2026. Otherwise. allproFerties were occupied thIoughoth the year with 17 b¢n¢ficI￿1g5. During 2025, in addition to the r¢gular Tnaint¢nance work sp¢cifi¢ mattttenallce ile4DS for the Charity illcluded.. Replacement of the roofs for ￿)Its 180d 3, duc to their poorcondition. C¢)st £27,060. ReplaTrm¢nt of two Wds boilers, total cost £7.414. A fi]rther 3 boilers have been schedllled for replace￿¢￿1 ove the n¢xt 12 months. CAMBRIDGE VICTORIA HOMES (CIO) PAGE 2 FNANCLL sfATEMENfs FOR THE YEAR ENDED 3 EST DECEMBER 2025 TRUSTEES, A￿NUAL REPORT.....CONT CarryiDg out of the 5.yer fixed electri￿ testmg and the subsequent rerned1￿ work require4 total ¢05t£6.066. Renovarioll of a vacollt Unit, Inc￿￿8 thetreatrnent of woodwolrn, which w&4 found during the renovatio4 total cost £6,473. UpgTadiug of site office equipment with a new laptop forthe warden (£899) and a more cost-cffective telephone The eost of energy ron11t￿e8 to be an area of budget Concer￿ and the ￿10￿3 T¢BU]atory check8 such as fire safrty iDspectioJ). PAT testing, safety cbecks, fjxed electrical tests are & sigtiificant element in the Cbaritys budget. The HOll￿S was helped, howev¢r, by visits Or￿]Sed by the Employee Volunteering scbeme thmugh i*bith & teatll of volunteus AstraZenKa sptht 2 days at the Home5 Callying out such as repai￿Ing garden seats, cleaning down external windows doorss gardening tasks aud wryiug Out￿l￿or r¢pwir5. Th¢ volutttcers Work￿ in the mornin& followed by an aft¢Tuoon session of pla)IDg games witb tbe residents, enabling both the volUnt￿S and residents to get to know each other. The residellt5 really appreciaied the volunte￿5 SUPPOrt and we bop? to rqJ¢atthe %he]ne in 2026. The progrJrllrne of tnonthty subyidi5ed r¢sideDt outings introduced in 2024 b&5 been well received and will be continued into 2026. Ibis has included visits to Carriaues. Ioc31 garden centres and mthet t0th￿S and pub lun¢hes. Finally, during 2025 th¢ Charity h&8 set up a'Friends of the Homeg scbeme. This i5 forvoluJJt¢¢rs who wish to be involved with the Charity. but do rLOt wantthe respons71 Jilits¢5 whith w¥th belug & Trustee. The'FrieDds' can jotn in with the Homes social eveDts and coffte D￿ni]ng&. volunteer to help outthe residentsith specific wks amulld the house and garden or organisE Soci￿ activities for the resideTts. 4, FINANCIAL REVIEW The incom4 Ixfore gains on inv￿￿]ellts, fortheyear w&$ £6,761 (2024: net income £24,182). The net mov¢]nent in fi￿dS was & increase of £55,94912024: illcre&s¢ £48,021). Principal F￿ding Sources The pTtncipal sourc¢5 of fi￿dIng for the Charity are the levies ￿CeIv&1 ftom T&8idents and rekn earned fromthe investrnents. From iin]e to time the Charity rereive5 b¢qu¢5ts. gr4Dts and donlltio￿. usually Trall scal¢, which ptefully received arLd u￿d to further th¢ Homes, obje£tive Principal Areas of Expendi a) Repairs andMaiatenauGe- The cost of maintsiniDg the h(w to a high standard remaing 8 significant burden on the Charity's financial Te50urc6s alld every project is carefulty considered prior to impIeTDentrtio￿ Major refurbisl]nkent works rnust be planlled in conjunction routitie rniDt¢nance. but the oppoiti]nity is tske4 when propertk¢s becoTr¢ vacant, to UP8rade and refutbi5h the hoTll&% &8T*£ess8ry. b) stsffing- the Charity employs a part time SecT¢lary (15 hour5 p¢r w#k) Olld a part tttlle Warden (18 hours per week) aod a person to manage th¢ pavilion opening and closin& A telepbone lifeline system 15 also contracted to provtde emergency support for the residents. The ttutees 5aiisfied that t￿￿ PTOViSiOnS Tneetthe Homtrs, day to day op¢rntional requirements. Rescrves Policy It is the policy of the Charity to hold unr¢stric¢ed at a level sufficient to coverthe costs of maintaining ea¢h residential propety at the appropriate 5widard foT the foreseeable firture. The general fimds at 3 1 December2025 w¢re £1.59m (2024.. £1.51m). A Subst￿ propcgtioD of th¢ Cb8rity'$ Properties and infrastru¢tur¢ aTB over 100 years and as a cowqu¢D¢e requirc Tr*Jth regular mattitenatice alld inwvenwmts. The investtneDts are b¢ld to botb generate income and to ful￿ une4*Cted major bwldillgwo￿ trj acl)ieve the p)licy noted above. The trustees, ain), by plallniDg Fegular D]alut￿ce, is to bieak£Yen before investTnent gains aud losg¢s iu the shortternL The ts1￿¢¢8 bave tntroduced a Maintenance Res¢TV¢ fimd ikning 2025. The objective is to Set aside fi]nds for mainlenance each year to COV￿ irregular costs, such ￿ the 5-year electrical ttstill& so that the expendTtur¢ is SPT¢ad ov¢r allutnber of years. This will avoid an eKceptiona] cost bcing incurred aDd will assitt in blldgeting the levy charge. The maintenance res¢rv¢ at 31 December 2025 wa5 £5,000 (2024.. £Nll). Th¢ tr￿S￿¢S are satisfied that the policy noted above is being nJ8ititsij￿ CAMBRIDGE VICTORIA HOMES (CIO) PAGE 3 FINANCIAL STATEMENfs FORIHE YEAR ENDED 31ST DECEMBER 2025 TRUSTEES, ANNUAL REPORT.....CONT Tnvestment Policy In Tespect of the portfolio the level of income to be achieved slK>uld be in excess of average FT All Share yield. Not more than trn per cent of portfolio to be held in any One stock. The policy is to hold iDve9tments over the long and in thi8 context the tn￿ consid¢r the perfonnaDGe of th¢ illvestments to be adequats. Risk Management The trustees a risktt￿ag￿t stratoy wbich com￿ls¢S. An annual review of the risks th¢ Charity may f3¢¢ The est2blishJnent of yy5tems and procedu￿5 to mitigate those risk5 identified in the plan. and The implementstion of priK¢dures d¢siglled io miDIt￿Se 8ny potential impact on the ChaTity shi)u]d those risks A key elem¢nl JD the maDa8ement of fllwjcial Tisk is the sdting of a r¢5eryes px)]icy aq above and its regular reviewby trw81¢es. Th¢ tytees att Salisfi￿ thatthe ljwity can eontinlle a going concern S PLANS FOR FLTURE PEIUODS Th¢ key objectives of the CIO will contÈnue to be w)vision of subsid1s￿ associated facilities and fjnancial support for the elderty and infllm over 60 yeaTS of age. enslTll￿ full of all th¢ homes. and maintsimg both these 8ndthe grounds io Abigb staDdard The trustees introduced a long lenu Major rnaint¢n4llr¢ I￿￿K9ve￿e￿ts wJ8ramme ID 2018. Futh works items in this progTamme for 202617 include repoiDIiDg WO￿ for sevual of the bullgal¢)ws, roof repotrs for units 15. 17, 19 and 21, and investigation of tho opw)rbJnities for of 501ar paneb or other ¢wgy Saving trchnoJogie& STATEl¥fENT OF TRUSTELS RESPONSIBILITIES Th¢ trustees are res￿￿91￿]¢ for preparitig th¢ Tntst¢¢s' Rel￿ 4rwJ the fillallcial statements in accordance with applicable law and lJnited Kingdom Accounting Standards. The law appliLabl¢ to chari¢igs ill EDgl&lld and Wales requires the tn]stees to prepare fjnancial statwllcllts for eacb fitiancial year wbich give a true and fair view of the 51ate of the affairs of the CIMrity th¢ illcorning resources and application of resource5 of the Cknlty for thai period. In preparing these fthaD¢ial statementy the tru5te¢s aT¢ reqth￿l to: (i) (li) (iu) (iv) Select suitable a￿Ountrg policics &ud then ￿pty them consistendy. Obs¢rve the metho¢ls principles of th¢ ChaTiti¢s SORP. Make judgements and estimates that 8re reasonable alld pn Stste whether applicable accounting standards and 51atemeDts of praLtic¢ have been followe& subje¢1 to ally d¢pattre disclosed and explained in the financial statemeDts. Prepare the fin&)cial stateJneDts OD the going concern basis il ts inappropriate to pre8uD)e that the Charity will witiDUE Ati operation. {v) The tr￿te¢S respoDsJlJle forkoopitjg pro￿ accouoting records whith disclose with reasojllble accw at any time, the f￿ancial positloll of the CI￿lty and to enable tI￿n io e￿Ure that the finan¢Aal 51•ttments comply with the CTrwities Act 2011. and the appli(abl¢ CbaTity (Accoutjts and Rem) Regulation They are also responsible for safeguarding the a55eLs of the Charity aDdh￿r¢ for tski08 re&qonable steps forthe prevention and detectioll of fraud and other irregularities. 7. KEY MAliAGEMEThT PFB50Tr4f4EL REMUIITRATION The Conmllttee of Tntss consid¢T ¢I￿selVeS to be the key m2na8ement 8lld receive no reJ)wneratio . APPROVAL DECLARATION The r¢port approved by the trustees on and signed on their beba]f. 23 -f.1 20AI A R BLAKE. TRUSTEE. TREASURER CAMBRIDGE vIcfoRIA HOMES (CEO) PAGE 4 FINANCIAL STATEMENfs FOR THE YEAR ENDED 31ST DECEMBER 2025 INDEPENDENf EXAMfNERE REPORT TO THE TRUSTEU OF CAMBIiIDGE VICTORIA HOMBS (CIO) I report to the ChaLIty Trustees oll my ￿Mi￿oll ofthe accoutts of the Charity forthe Y￿ ended 3 1st DeC¢￿beT 2025. wbich are set out QII PW8 5 to 13. BESPONSIBtLETIES AND BASIS OF IiEPOKT As th¢ Charitys Trustees of the Charity you are respojjsible for the preimration of the accounts in accordAnce with the requirenmts of the Charities Aet 2011 (Ibe 2011 Ae¢). Having F*en satisfied that th¢ accounts of the Charity are not req￿]redt0 be audited uodcrthe 2011 Act and are ell￿MIe foT iudep¢nd¢nt examinatiow I rewrt in respe