2024-03-31-accounts

Charfty Rètrnt)n No. 1185571 TrIE PRICEHOLMETRUST ao ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMEMfs FOR THE YEAR ENDED 31 MARCH 2024 BUSINESS ADVISORS bNfAp4rs One Bell Lane Lewes East Sussex BN7 IJU

THE PRICEHOLME TRUST ao CONTENTS Company information Tlusiees, report Independent examinerfs report ststement of financial acknvits'es Balance Sheet Notes to the finèncial staternents 9-22

THE PRICEHOLME TRUST ao COMPANY INFORMATION Trustees Mr T Dennis (Chairman) Mrs S Karle Mrs A Hackett Mrs S Baker Mr P Lewis Mrs A Tweddle (Appointed 15 December 20231 Charlty number 1185571 Independent èxaminer TC Group One Bell Lane Lewes East Sussex BN7 UU Bankers Handlesbanken 21 Perrymount Road Haywards Heath RH16 3TP Solldto Coole Bevis LLP Lanes End House 15 Prince Albert Street B¥ighton BNI IHY

THE PRICEHOLME TRusr cio TRUSTEES, REPORT FOR THE YEAR ENDED31 MARCH2024 The Trustees present their annual report and linancial statements for the year ended 31 March 2024. The financial ststements have been prepared in accordance with the accounting polities set out in note I to the financial staiements and comply with the charity's conskntution, the Charities Act 2011 and "Accounting and Reporting by Charities." Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Repo¢tinE Standard applicable in the UK and ftepublic of Ireland IFRS 1021" (effective l January 20191. Objectives and artl¥ities The Trustees aim to maintsin Priceholme for the benelit of the residents in accordance ￿th the terms of the Charity's Constitu￿on. The Trustees do not call upon public funds and all expenses are met from Trust monies. Priceholme provide5 sheltered accommodatlon in 12 double and 10 single ground floor flatg. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achièvements and performance The Bungalow continue5 to be let at a commerclal rent providing a useful Source of income. Health and Safety Health and safety and welfare issues were regulady discussed at meetings ol the Residents, Weltdre Cornrnittee nd Board of Trustees. Our policy remain5 in place and is constsntly under review. Our Protechon of Vulnerable Adults and Safe8uarding Policy is also undef constant ieview. Refu￿]Shment During the year re-roolin8 was undertaken on one ran8e of the roof. One flat was refurbished. and parbal refurbishment work was undertaken on two others. Decarbwlsatlon The Trustee5 continued the rewew of energy use at Pyiceholme, which will be exte￿ed to create a long term DecarboniSa￿0n Plan. This prtstÈss will be ongoing for some years.

THE PRICEHOLME TRUST CIO TRUSTEE5' REPORT ICONTINUED) FOR THE YEAR ENDEO 31 MARCH2024 RdÈs and Rewlatlons The Trustees comply with the current 8uidance of the Almshouse Association and other contemporarystandards. In accordan￿ with such guidance thè following polic¥es and procedures We￿ revised and updated duV￿g the vear.. POVA & Safeguarding.. Health & Safety,. Equality & Diversity.. Complaint5,. Application Forms for potential residents,. Independent Living; Temis and Conditions of Residence. The Residenw Risk Assessment que￿FonnaireS have been reviewed with the help of the Scheme Manager and a Trustee for those residents whose circumslances ha￿ changed. This has enabled appropriate services being arran8ed where necessary. All new residents complete a Risk Assessment questionnaire. All new fesidents are also supplied with the Priceholme Residents. Handbook. It includes all the above policie5 and extended advice and information to enhan￿ the resident5, quality of life at Priceholme. The handbook forms part of a resident's contract with the Trust and supplements the terms and condiuons set out in the letter of appolntment. It Con￿nueS to be the trustee￿ objective to make relewdnt and appropriats training available to the Manager. Hnancial re¥iLIW The Trustees aim to ensu￿ the Trust is self financing for the long term. The current account in normal years is planned to provide a small surplus to add to capital to he(Èe against large costs without drawing down on the investment portfolio. In 202312024 the operating deficit was £40.730 before taking in to account the overall loss on the investment portfolio of £1,465. The value of the endowed investrnents ha5 increased by £13,491 with income 8enerated of £5.707. The trustfund will continue to be managed by the asset managers. Handelsbanken Wealth & Asset Management. ReseNes The Extraordinary Repair and Cyclical Maintenance Funds continue to be reviewed each year, and transfers are made to cover the antfcipated costs of medium and long temi ￿paIrS and replacements. The Tnjstees have also reviewed the unrestricted reserves held by the Trust. The £290.132 include5 £176.885 in Investments making the free reserve immediately available £113,247 Isee note 181. The Trustees consider that thi5 level is adequats to Safeguard the a£ti*ities of the Trust while also acting as secuiity should the designated fvnds prove inadequate. Impalrment/Deprèciatlon The Trustees conducted an Impairment Review. The valuation of buildings at Priceholme undertaken tw RH and RW autton in October 2021 and then revised in March 2023. The Board consider thi5 waluation to stil be reflective of the cUr￿nt Wdlue of the property.

THE PRICEHOLME TRUST ao TRUSTEES, REPORT {CONTINUEO) FOR THE YEAR ENDED 31 MARCH 2024 R15k a55essment The Trustees and Management Committee have considered the risks to the charity under three headinB5.' property, finance and personnel. The results are reported above in the reviews of athvthes and h"nancial postti"on. The Trustees are committed to keeping these issue5 under constant review and identifying any other p￿ential nsks to the structure. tinancial position or health and safety of residents, visitors and stsff. Structure. governance and management The charity was established by a charitable trust deed dated 16 February 1959. The conversion of the Priceholme Trust to a Charitable Incorporated Organisation I￿gIStered by the Chartty Commisston on l October 3)19= CC number 11857711 was completed on l April 2020. The Trustees who seryed during the year and up to the date of signature of the financial statements were.. Mf A Cupp38e IResi8ned 31 December 20231 Mr T Dennis IChaTrrmanl Mrs S Karle Mrs A Hackett S 8aker Mr P Lewis MYS A Tweddle (Appointed 15 December 20231 The organisational structure of Priceholme consists of 3 Board ol Trustees and a Residents, Wellbeing Committee of which the members (except lor the Scheme Manager. belowl are volurkteers. Routine administration is conducted by professional manaBinÈ agents who are represented at Trustees, quarterly and annual meetings and report to the Trustees. The Scheme Manager works 18 hours per week with an option to do extra hours if the restdents. nee& ￿￿rrafit it. She is a member ofthe Residents. Wellbelng Committee aftd attends Trustees, meetings as required. Trustees are selected for their background in suitsble area5 of administration, management, welfare and finance and a￿ apptsinted by the Board ofTrustees. Related Parties The charity has no related parties. On bèhalf of the Board of Trustees Mr T Dennis Ichèirrnanl Trustee

THE PRICEHOLME TRUST CIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PRICEHOLME TRUST CIO I report to the Trustees on my examlnation of the thnancial statements of The PrI￿hOlMe Trust cio (the charity) for the year ended 31 March 2024. ResponslbllltlÈs and basis of report As the Trustees of the ch3rity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Art). I report in respect of my examina￿On of the charity's financial statements carried out under sethon 145 of the 2011 Act. In carrying out rny examinats'on I have followed all the applicable Dirertions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examlner's statement Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing thelT accounts in accordante with the Financial Rewknng Standard applicab5e in the UK and Republie of Ireland IFAS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on l April 2LXJ5 which is referred to in the eXt￿t regulations but has now been withdrawn. l understand that this has been done in order for linancial ststements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effecLive for reporting period5 beginnin8 on or 3ftÈr I january 2015. I have completed my examination. I confirm that no matters have come to rny attention in connection with the examination giving me cause to believe that in any material respect.. accounting Tecords were not kept in respect of the charity as required by section 130 of the 2011Act.' or the financial statements do not accord with those records; or the financial statements do not comply with the applicable requirements concerning the fom) and content of account5 Set out in the Charities (Accounts and Reports) Regulat5ons 2008 other than any ￿quIreMentthat the accounts glve a true and fair view which is not a matter considered as part of an independeni examination. I have no concerns and have come across no other matters Sn connection wlth the examination to whrh attention should be drawn in this report in order to enable a proper understanding of the financial ststements to be reached. TC Group One Bell Lane Lewes East Sussex BN7 IJU

THE PRICEHOLME TRUST CIO STATEMENT OF FINANCIAL AcTIV￿lEs FOR THE YEAR ENDED31 MARCH2024 Current flnancial ￿ar Unrestrlcted Unrestrlded Endowrnent funds fund5 fund5 general desl8nated 2024 Total Total 2024 2024 2023 Inwme and endowments from: Charitable activities Investments Other income 124,268 19.987 6,194 124,268 25,694 6,194 112,653 23,382 1,665 5,707 Totsl income and endowments 150,449 5,707 156.156 137,700 Expendlture on: Charitable activities 135,257 61.626 196,883 99,205 Totsl expendlture 135,257 61,626 196,883 99,205 Net 8ains/llossesl on investments 19,2491 7,784 11.4651 139,6071 Net Incomellexpenditurt} 5.943 161,6261 13,491 142,1921 11,1121 Other reco8nlsed gains and 1055e5.' Revaluation of tangible fixed assets 15,000 Net movement In fub)ds 5.943 161,6261 13.491 142,1921 13,888 Reconciliation of funds: Fund balances at l April 2023 284,189 101,848 1.846.087 2.232,124 2,218,236 Fund balances at 31 Marth 2024 290.132 40,222 L859.578 2.189.932 2,232,124

THE PRICEHOLME TRUST CIO STATEMENT OF FINANCIAL ACtIVlTIE5 (CONTINUED) FOR ThTE YEAR ENDED3J MARCH2024 Pr40r finandalyear Unrestricted Unrestricted Endowment funds funds funfls Benèral desl8nated 2023 2023 Total 2023 2023 Income and endowments frryn: Charitable acknwties 112,653 18.998 1.665 112,653 23.382 1,665 Investments 4.384 Other income Total Incom• and •ndowments 133316 4,384 137,700 Expendlture on.. Charitable activities 93.229 5.976 99,205 Total expendlture 93,229 5.976 99,205 Net 8ainslllossesl on investments 111,9511 127.6561 139,6071 Net intomellexpendlture) 28,136 15,9761 123.2721 11,1121 Other rÈwgnised gains and losses.. Revaluation of tangible thxed assets 15,000 15.LKIO Net movemènt In ftsnds 28.136 15,9761 18,2721 13,888 ReconclllatSon of funds.. Fund balances at l April 2022 256.053 107.824 1.854,359 2,218,236 Fund balances at 31 Marth 2023 284,189 101.848 1.846.087 2,232,124

THE PRICEHOLME TRUST CIO BALANCE SHE AsAf31 MARCH2024 2024 2023 Notes Fixed 3s5ets Tangible assets Inve5tment5 li 12 1,610.000 527.965 1,610,000 521.550 2.137,965 2.131,550 Current assets Debtors Cash at bank and in hand 13 3.645 60.613 4.685 111.217 64,258 115.902 Credltor5: amounts fallln8 due wlthln one year 112,2911 115.3281 Net current assets 51.%7 100,574 Total assets les5 current Ilabilities 2.189,932 2.232,124 Capital fund5 Expendable endowment 1,859,578 IW6.087 Incomè fund5 Unrestricted funds- General unrestricted funds 17 40,222 290,132 101.848 284.189 2,189,932 2,232.124 The accounts were approved by the Trustees on MrT Dennis (Chairman) Trustee

THE PRICEHOLME TRUST CIO NOTES TO THE FINANCIAL STATEMENTS FOR Tr1£ YEARENDED31 MARCH2024 Attounting pollcie5 Charlty Infom1atlon The Priceholme Trust is a Chartsble Organisation established by a chaTltable trust deed dated 16 February 1959. The registered charity number is 231406. The registered address 15 Townhouse, Church Lane, Ardingly, West Sussex. RH17 6UR. 1.1 AccountfnB convention The financial statefflents have been prepared in accordance with the charTrty's constitution, the Charities Act 2011. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I"FRS 102.1 and the Charitie5 SORP "Accountr'ng and Reporting by Charitie5.' Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leflective l October 20191. The charity Is a Publlc Benefit Entrty as delined by FRS 102. The tharity has taken advantage of the provisions in the SORP for eharit5es not to prepare a Statement of Cash Flows. The accounts have departed frorn the Charities (Accounts and Reports) Regulations 2008 only to the extent required to Provide a trve and fair view. Thi5 dep3rture has involved following the Slatement of Recommended Practice foT charities applying FRS 102 rather than the version of the Statement ol Recommended Practice which is ￿ferred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterlin& whlch is the functional currency of the charity. Monetary amounts in these hnancial statements are rounded to the nearest £. The linancial statement5 have been prepared under the hlstorlcal c05t convention, modifted to include the revaluation ol freehold properries and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Charitable funds The charity has a single permanent endowment whith provides for the Trustees to in¥est the capital in perpetuity and 15 now man3ged on 3 total return basis. The Trustee5 at their discretion may allocate any part of the unapplied total return to the general PUfP05e5 of the Twst, namely to maintain Priceholrne for the benefit of the residents in accordance with the Trust Deeds. Restricted funds are funds which are to be used In accordan￿ with spe¢ith¢ restrictions imposed by the donor orTrust Deed. Unrestri¢ted income funds comprrse those funds which the Trustees are free to use for any purpose in furtherance of the chaTitsble objects. Unrestricted funds include designated funds where the Trustees, at their dlsuetion, have created a fund for a speeilic purpose. Further details of each fund are disclosed in the notes to the actounts.

THE PRICEHOLME TRUST CIO NOTES TO YHE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED3J MARCH2024 Accounting polidts Icontlnutdl 1.3 Income All income is recognised once the charty ha5 entitlement to the income, there is suflicient tertainty or recelpt and so it is probable that the income will be received. and the amount of income receivable can be easured Teliably. Donations, are recognised when tomrnunication is received in writing with notificatio¢7 of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perforrnan before the charity is entitled to the funds, the income is deferred and not iecognised elther those conditions are fully met. or the fulfilment of those Condi￿On$ is wholly within the control of the charity and Ft is probable that those condiifons will be fulFilled in the reporting period. Legacy 8ift5 are recognised on a case by case basi5 following the granting of probate when the admSnistrator/ executor for the estate has communicated in writing both the amount and settlernent date. In the event that the gift 15 in the form of an asset other thèn cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being measured reliably with a degree of reasonable accuracy and the title to the asset has been transferred to the charity. Interest on funds held on deposit is included upon notification of the interest paid or payable by the Bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. L4 Expènd￿ur¢ Expenditure 15 recogn(sed once there is a legal or constructfve obligatlon to transfer Èconomic ￿￿etit to third party, it is probable that 8 transfer of economic benefits will be required in settlement, andthe amount of thè obligation can be measured reliablv. Expendlture 15 classilied by activity. The costs of each activity are made up of the total of dir&t Costs and shared costs, tncluding support costs involved in undertaking each activlty. Direct costs attributaLle to a single activity arè allocated dirertly to that activity. Shared costs which contribute to more than one aciivity and support costs which are not attributable to a single activity are apportioned between those athibes on a basis tonsistent with the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation charges are allocated on the portion of the a5set'5 use. Liabilities are recognised as expenditure as soon as there is a legal or constructive obligatign commitbng the charity to that expenditure. it is probable that settlement will be required and theamount of the obligation can be measured reliably. AJI expenditure is accounted for on an accruals basis. All expenses, including support costs and governan costs, are allocated or apportioned ts) the applicable expenditure headings in the ststement of financial attivities. 10

THE PRICEHOLME TRUST CIO NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 MARCH2024 untlng policiÈ5 Iconthiued) 1.5 Tangible fixed assets Tangible tixed assets are lnitra1￿ measured at cost and Subsequent￿ measured at C05t or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valtsation of assets less their residual values over their useful Itve5 on the following bases.. Land and buildings 1% strèight line Freehold land is not depreciated. The gain or loss arising on the disposal ol an asset is determined as the difference between the sale proceeds and the cèrrying value of the asset, and is recogni5ed in ihe ststernent of financial activitses. Impairnient revlew The Trustees have carried ovt an impairment review of the valuation of land and buildings. In their opinion the market value of land and buildings is not less than the carrying value. Consequently, no charge for depreciation has been made. 1.6 Fixed asset investment5 Investments are initially recogni5ed at their t￿nsaCtiOn value and subsequently measured at their market value ￿ at the balance sheet date uslng the closing quoted market price. The statement of financial a¢bvities includes the galns and1055es artsing on revaluatr.on and disp05als throughout the year. The Trust does not acquire or use put option5, derivatives or other complex h"nancial instruments. All 8ains and losses a￿ taken to the statement of financial activities as ihey arise. Realised gains and losses on investments are calculated as the difference between sale5 proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the falr value at the yeèr end and their carrying valvè. Realised and unrealised investment gains and 1055e5 are combined in the Statement of Financial Activth"es. 1.7 Impairment of fixed assets At each reptsrknng end date. the charity reviews the earrying amounts of its tangible assets to detemiine whether there is any indicatfon that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated In order to determine the extent of the ImkBirment 1055 lif anvl. 1.8 Cash and cash equ￿alentS Cash and cash equivalents include cash in hand, deposits held at call with banks, other 5hort-term liquid investments with original matuiities of three rnonths or le55, and bank overdrafts. Bank overdrafts are show4) within boYFowing5 in current liabilitie5. 11

THE PRICEHOLME TRUST CIO NOTES TO THE FINANCIAL STATEMEN75 ICONTINUEDI FOR THE YEAR ENDED31 MARCH2024 Accounttng policie5 Icorrtlnuedl 1.9 Flnancial Instruments The charity has elected to apply the provislons of Seclion 11 'Baslc Financial Instruments. and Seclion 12 'Other Financial Instruments Issues. of FRS 102 to all of its fi'Tbancial instruments. Financlal Instiumenls are recognlsed in the charity's balance Sheet when the tharity becomes party to ihe coniractual provisions of the instrument. Financial assets and liabilitie5 are offset. with the net amounts presented in the financial statements. when there is a legally enforceable right to Set off the recognised amounts and there Is an intention tosettle on a net basi5 or to reali5e the asset and settle the liability simultaneousSv. Basicfinonciolassets Basic ftnancial assets, which include debtors and cash and bank balances, are initially measured transaction price including transaction cost5 and are subsequently carried at amorhsed cost usin8 the effective interest method unless the arr3ngement constitutes a linancing transactr"on, where the transaction is measured at the present value of the fuiuie receipts discounted at a market rale of interest. Financial assets clas5ilied as receivable within one year are not amorrised. Basicfinonclol Ilubilities Basic financial liabilities, including creditors and bank loans are initially recognised at iransactron price unle55 the arrangement constytutes a financin8 transaction, where the debt instrument is measured at the present value of the future payments discounted at a ma¥ket rate of interest. Financial liabilsties classilied a5 payable within one year are not 3mortised. Debt instruments are subsequently carrled at amorb5ed cost, using the effective interest rate method. Tiade creditors are obligations to pay for good5 OT services that have been acquired in the Ordin￿ tourse of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are reco8nised initially at transattion price and subsequently measured at amortised cost Usin8 the effective interest method. Dereco9nlilon offinancialliabilitles Financial liabilities are deretognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entiilement is recognised in the period in which the employee's seryices are received. Termination benefits are recognised immediately as an expense when the charity is dem0Th5trabty comrnitted to te¥minate the employrnent of an employee or to provide termination beneilts. 1.11 Retlremert btneffts Payments to defined contribution retirement benetht scheme5 are charged as an expense as they falldue. 12-

THE PRICEHOLME TRUST CIO NOTES TO THE FINANCIAL STATEMENT5 ICONTINUEDI FOR THE YEAR ENDE031 MARCH 2024 Accounting pollcles IContsnued} 1.12 Debtors Trade and other debtor5 are reco8nised at the settlement amount due after any trdde discount offered. Prepayments are valued ar the amount prepaid after taking account of anytrade discounts due. 1.13 Credltors Creditors and provisions are reco8nised where the charity has a pre5eni obligation resutting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligaiTon ean be measured or esrimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Intome from charftsble actlvbtTrès Unrestricted funds 2024 Unrestricted fvnds 2023 Malntenance chargè S31e of goods 110.348 101.966 Electricty Sale of goods 9.965 6,569 Washer dryer Sale of goods 3,892 4,013 TV license fees Sale of goods 63 105 124,268 112,653 13-

THE PRICEHOIME TRUST CIO NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 MARCII 2024 Income from investments Unrestricted Endowment funds funds 2024 2024 Total Unrestrlcted Endowmefit tunds funds 2023 2023 Totsl 2024 2023 Rental income Intome from listed investments Interest receivable 17,199 17,199 17.880 17.880 2.173 615 5,707 7.880 615 1,108 io 4.384 5.492 ID 19.987 5,707 25,694 18.998 4,384 23.382 (Xher Income Unrestricted Unrestritted funds funds 2024 2023 Miseellaneous income 6.194 1.665 14-

THE PRICEHOLME TRUST CIO NOTE5 TO THE FINANCIALSTATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH2024 Expendlture on charitable actlvltles Headlng

ac982

Headlng

ac982

2023 2024 llirect Costs staff costs Residents wellbeing Insurance Rates and water Gardening Light and heat Cleaning Alarm rental Telephone Management fee5 Subscriptions Sundry expenses Ordinary repaits and maintenance Cyclical repairs and extraordinary maintena¢e Other charitable expenditure 19,875 19,093 390 3,160 3,614 5,963 10,438 610 195 729 16.544 240 3.609 3.226 5.349 14,528 341 294 674 16.507 470 11,212 9,957 106,588 58 972 15.807 16.649 192.688 94.404 Share of support and governance costs (see notè 61 Governance 4.195 4,801 196.883 99,205 Analysis by fund Unrestricted funds- general Unrestricted funds- designated 135,257 61.626 93,229 5,976 196,883 99,205 t5-

THE PRICEHOLME TRUST CIO NOTES TO THE FINANCIAL STATEMENT5 ICONTINVEDI FOR THE YEAR ENDED 31 MARCH 2024 6overna¢Ke costs 2024 2023 Accounts preparation Bank charges 3.780 415 3.780 415 4.530 271 4.195 4,195 4,801 Analysed between Charitable activities 4,195 4,195 4.801 Trustees None of the Trustees lor any persons connected with thernl received any remuneration during the year. Trustees were relmbursed expenses amounting to £nil12023- Enill in their Capacity a5 Trustee. Employee5 The average monthly number ol employees during the year was.. 2024 Number 2023 Number Scheme manager Employment costs 2024 2023 Wage5 and salaries Social security costs Other pension costs 16,484 2,032 910 16.158 2.045 890 19,875 19.093 There were no employees whose ènnual remuneration was more than £60,000. 16-

THE PRICEHOLME TRUST CIO NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED31 MARCH2024 Employees lconlin￿1l Remuneration of key management personnel The remunention of key management personnel was as follows.. 2024 2023 Aggre8ate compensatfon 19.875 19.093 17-

THE PRICEHOLME TRUST CIO NOTES TO THE FINANCIALSTATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCII 2024 Net fdinslllossesl on Investments Unrestslcted Endowment funds funds general 2024 Total Unrestricted Endowment funds fund5 general 2023 Total 2024 2024 2023 2023 Revaluètion of investments 19,2491 7.784 11,4651 111.9511 127.6561 139,6071 10 Tuatlon The charity is exempt from tsx on income and 8ains falling within section $05 of the Taxes Act L988 or section 252 of the Taxatr'on ol Chargeèble Gains Act 1992 to Ihe extent that these are applial to its charitable objects. 11 TznKible fixed assets Land and buSldln8S Cost At l Aprll 2023 1,610,000 At 31 Mafch 2024 1,610,000 At 31 March 2024 Carryln8 amount At 31 March 2024 1.610.000 At 31 March 2023 1.610,000 The freehold property was valued by RH & RW Clutton at 31 March 2023 and the Board deem this valuation to still be appropriate. 18

THE PRICEHOLME TRUST CIO NOTES TO THE FINANCIALSTATEMENTS ICONTINUEDI FOR THE YEAR EPIDED 31 MARCH2024 12 Flxèd a55et irNestments Listed In%wtments Cost or valuathon At l April 2023 Additions Valuation changes 521,550 7,880 11,4651 At 31 March 2024 527,965 Carrying amount At 31 March 2024 527,965 At 31 March 2023 521.550 Flxed 355et investments revaluèd The historical cost wdlue of the investments is £462,664. Debtors 2024 2023 Amounts fallin¥ due wlthln one year: Trade debtors Other debtors Prepayments and accrued income 1,9% 3.568 1.117 3,645 4,685 14 Credltors: amounts falllng duè within one year 2024 2023 Trade creditors Other creditor5 Accruals and deferred income 2,714 41 2.336 2,321 10.671 9.536 12.291 15,328 19-

THE PRICEHOLME TRUST CIO NOIES TO THE FINANCIAL STATEMENTS ICONYINUEDI FOR IHE YEAR ENO£D31 MARCH 2024 15 Retlrement benefft sthemes 2024 2023 Defined contrlljution stheme5 Charge to profil or loss in respect of defined contribution schemes 910 890 The charity operate5 a defined contribucron pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently adMiniste￿d fund. 16 Endowment fvnds The permanent endowment consists of the original trust capital settled by Sir Henry Piice in 1959. The gift was given on condits'on ihat it Is held as permènent endowment, the income from which is freely available to fvnd the activities of the charity. At l April 2023 Incomlng resources Galns and At 31 March losses 2024 Expendable èndowments Endowment fund 1,846,087 5.707 7,784 1.859.578 P￿vIOuS year. At l April 2022 Incomlng re50urce5 Galns and At 31 March losses 2023 Expendable endowments Endowment fund 1,854,359 4.384 112,6561 1,846,087 -20-

THE PRICEHOLME TRUST CIO NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 MARCH 2024 17 Desi8nated funds The income funds of the charity include the following designated funds whl¢h have been Set aside out of unrestricted funds by the Érustees for specifie purposes= Extraordinary repair fund- This fund was established to PTovide a reserye to meet the costs of extraordinary repairs, improvements or the rebuilding of Priceholme and is also funded by transfers from income accounts. Movement in funds Inwml Balance Bt A￿Ourtt5 expefided 31 M•Kh1024 IApfil 2022 Extraordinary repair fund 107,824 15.9761 101,848 161,6261 40,222 Anatysis of net assets bttwèÈn funds Unrestricted Unrestrirted Endowment funds fvnds fvDd$ general designated 2024 2024 Total 2024 2024 At 31 March 2024: Tangible assets Investments CL¥rrent assetsllliabilitiesl i.sio,000 249.578 1,610.000 527.965 51.967 238.165 51.967 40,222 290,132 40,222 1.859,578 2.189.932 Unrestrlcted Unrestrlcted Endowmènt funds lunds funds general desl8nated 2023 2023 Total 2023 2023 At 31 Marth 2023: Tangible assets Investments Current assetsllliabi1￿eS1 1.610.000 236.087 1,610,000 521,550 100,574 183,615 100.574 101,848 284.189 101,848 1,846.087 2,232,124 21

THE PRICEHOLME TRUST CIO NOTES TO THE FSNANCIALSTATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH2024 19 Related party transactlons There wefe no disclosable related party transacknofts during the year12023- none). -22-