The Dyers, Almshouse Charity CIO Registe￿d No. 1185932 Report and Accounts 31 ¥1 October 2026 Dyers. Almsho￿8¢ Charity CIO Trustee's annual report at 31" October 2025 Roferenco and administrative infomiation Founder The Dyers, Company, previously known as The Wardens and Commonalty of the Mistery of Dyers of th¢ City of London, and also known as The Worshipful Company of Dyers. The Dyers. Company was incorporated by Royal Charter in 1471, reg no. RC000911. Reg15ter¢d offl¢e 11-13 Dowgate Hill London. EC4R2ST Tel: 020 7236 7197 Email: office@dyerscompany.com Trust¢¢: Th¢ Dy¢rs' Company is the Tnjstee. During the year the following were the members of the Court of The Dyeis, Company.. J P Rothwell M G Maihieson M W M Rowland$on (dec'd 27. Au8 2025) P G Maihieson F A Onians J R Vai7£y LL Col. M A Marshall (retired 2 Apr 2025) Sir Edrnund Verney RPBack EAML¢e (retired Oci 2025) M Bird J R Chambers G Blair A R Burdon-coop Dr M G Bartle H C Jourdain J M Holme J N Crockall A C S Macpher50n G C Rothwell NBQlJack A H J Crockatt Prof. R H Wardman R G Scott Mon¢rieff B M de L Cazenove J E Cawley S W Cleaver SJMLyon S G Q Cooper A A S Mccallum lfrom 6th Nov 20241 Chlef Executlve Orneer Mr M R l Lane, The Clerk to the Trustee Bankers National Westtninster Bank PLC 94 Moorgate London EC2M 6UR Solltlton Broadfield Law UK LLP One Bartholomew Close London ECIA7BL Independent Auditorg Haysmac LLP 10 Queen Street Place London EC4R IAG Inve$tm¢nt Adviser JM Finn & Co Ltd 25 Copthall Avenue London EC2R 7AH Dyers, Almshouse Charity CIO Trustee's annual report at 31st October 2025 Rèport of the Trustse for the year ended 31•t October 2025 The Trustee presents its annual report and financial statements of the charity for the year ended 3 1%1 October 2025. The financial statements have been prepared in accordance with the accounting wlicies set out in note I to the accounts and comply with the charity's trnSt deed, the Charities Act 2011. 2016 and 2022, and Accounting and Reporting by Charitie5'. Statement of Recomtnended Practice (second edition October 2019) applicabl¢ to ¢h8rities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and R¢public of Ireland (FRS 102). Objectives ¥nd ￿tIVItieS for the publlt beneflt The Dyer5' Almshouse Charity CIO is established for the public ben¢fiL for the prevention or relief of ￿Vety and ih¢ r¢li¢f of thos¢ in need, hardship, or disiress, by.. a) providing social housing in the fom) of almshouse accommodation to poor per50n5 in the United Kingdom (with a pref¢ren¢¢ for Freemen or Livtrymen ofThe Dyers. Company and their widows, widower5, or dependants) b) making chariiable 8rants or payments for the relief of persons in the United Kingdom who are in need. hardship or distress including. without prejudice to the generality of the foregoing. contributin8 to the costs of ac¢ommodation or care services (including medical and nursing care) c) such ch&riiable putposes for the benefil of resident5 and foTm¢r residents of the Almshouses as the truslee frotn lime to time decide5. The charity achieve5 its object5 by providing well maintained, low-cost housing to poor people of good ¢harader. The re5ideni staff are not trdined to give medi¢al care, artd the Almshouses cannot aci as a nursing home. The Trus(ee confirnis thai it has referred to the Charity Commission's ¥uidance on public benefit when reviewing the Trusi's aim5 and objeciive5, in planning future activities, and in 5cttin8 policy for eligibiliry to occupy an almshouse bungalow. As and when vacancies arise these are advertised. the financial standing and character of potential residents are assessed by a combination of application form and interview. All applications fulfilling the required criieria are placed on a waiting list and are offered the opportunity to live in an almshouse bungalow as Bnd when one becomes vacant. Review of our achievements and perforn?ance: how our work delivered public benefil DuTing the yejr 28 bungalows W¢T¢ provided to residents as low-cost housing in a pleasant well-maintained environment together with the provi5i0n of on-site $iaff who supply day-to4ay (non-medical) 5UPPOrt md companionship. Monitoring achievement Senior representatives of the Trusiee usually visit the Almshouses four times a Ye￿ and meet r¢sid¢nts on a one- io-one basis. This gives the residents the opporninity to give honest feedback on the quality of the altnshouse provision. There are few complaints and (hese are usually of a rninor nature. In addition, ther¢ is a r¢14tiv¢ly low turnover rate of residents. the mAin reason for leaving the almshouses 15 usually failing health. Dyers. Almshouse Charity CIO Trustee's annual report at 311t October 2025 Financial Review The General Fund The general fund cornpri5es unrestricted accumulaled surpluses and deficits on ¢ontinuing a¢iivities. 11 is available for use at the diseretiort of the trustee in furtherance of the chariry's objective5. The balan¢e on the general fijnd mostly comprises the accurnulated net income of ihe charity from investments and from maintenance contributions made by th¢ r¢sid¢nts. Th¢ income is used to cover expenditure on the almshouses, to ensure ihat the properties are mainiain¢d at a high slandard, and to provide for any unforeseen eventualities or major items of expenditur¢ which may arise in the future. Total incoming resources in the year from invesffii¢nts, dortations, and residents. contributions amounted to £489.326 (2024.. £334,578). Expenditure was £334,400 (2024.. £345.069}. The chariry sincerely appreciates the support of The Dyers, Cornp8ny Charitable Trugl whi¢h made an unrestricted donation of £153.632 during ihe year. The trustee believe5 thi5 SUPPOrt will b¢ of vital importan¢e ro forthcoming major refurbishment work. particularly roofing Tepairs and Teplacem¢nts. The General Fund stood ai £499.024 on 3151 October 2025 {2024.. £344,105). The Trustee believes this amount is both nc¢¢s5ary and sufficient to provide the working capital for the charity. The reserves policy is ser out on page The Expendable Endowmen¢ FuDd The Expendable Endowment Fund is on expendable fund used from time lo time to cover major Capital OT rep¥4ir C03t8 but Is mainly regaTded as Capital of Lh¢ CIO. LO provide the income.earnin¥ capability of the charity. During the year realised and unrealised gains and Ios5¢5 on inv¢5¢m¢nts amounted io a nei 88in of £107,03912024.. £106.292 net gain). Gains and losses on inve5tm¢nts are included in the Exp¢ndable Endowment Fund balance which stood at £2,788.530 as at 3 IM October 2025 (2024- £2,681,491). Restricted Funds Restricted fund5 comprise monies which were raised for, or where their use is restricted to, a specific Purpose, or conrributions subject to donor imposed conditions. During the year the charity was extremely graiefijl for the generou5 contribution of a 8ron¢ of £200,000 from the Woodroffe Benton Foundation towards a project to improve and expand the Clubroom community space for resid¢nts. th¢ Grand Opening of which look place on 28th May, and asso¢iaied boundary fencing works. During the prioryearthe charity received £2.500 from Crawley BoTOU8h Council in response to a Small Grant Application which was also used for the Clubroom project. The works are being depreciated over 10 y¢ar5, Wlth the balance of restricted funds standing at £182.250 a5 at 3 lit October 2025 (2024.. £2.500). Investment policy & perform4n¢e The main objective is to generate a combination of capital growth aJJd rising income in order to maintain th¢ Charity'$ estate of almshouses in Crawley, West Sussex. The income is needed for routine maintenanc¢ and refurbi5hmenL while periodic capital sums mighi be required for more major iiem5 of expenditure on upgTading and moderni5ing the alrnshouses. In order to achieve this. the srrategy is for the portfolio to mainly ¢omprise domestic and international equit1¢5. howev¢r fixed interest stocks, altemaiive invesmienis and collective investments may be held to improve diversification, reduce volatility and gain exposur¢ to more specialist aTea5. The Trustee takes a long-t¢rm inv¢$tment outlook. The TTU5te¢ appr¢csat¢s the inherent risk of equity investment and potential volatility of the market. A 5i8rtificant fall in the ¢apital value of the Chariry's Portfolio would have a small but acceptable impact on th¢ objectives of the Tn￿t, wh¢r¢as th¢ Trustee would like io see ihe incorne maintained in the short terni and growing in the medium io longer temi in order to maintain the Almshouses to acc¢ptable modern standards. Dyers. Almshouse Charity CIO Trustee's annual report at 316t October 2025 For the year in review, the Charity's investment portfolio generated a total retum of 8.7Q/o (2024.. 8.3 %). The total return of the FTSE All Share and the MSCI World Index wa5 22.5010 19.90/0 respectively over the same period. Risk management The principal risks faced by the charity lie in the nttd to continue to find residents as v#can¢ie$ arise, welfare of residents, investment perfomiance volatility and the cost of buildings maintenance. These risks are mitigated by maintainin&> a waitiny lisi of prospective residents: having a health and safety policy, using professional contrdctors to service equipment", using a combinaiion of extemal and in.house expertise to manage the investment portfolio And ensuring that property is well maintained thereby preveniing small PToblems from developing into expen5iV¢ repairs. Large tnainienance items, such as roof repairs are planned and budgeted prior to any work b¢ing carri¢d out. A risk assessment is prepared on an annual basis for review and approval by th¢ Trust¢¢. Residents each have a handbook serting out the extent of the charity'5 SUPPOrt in which 1¢ is made ¢lear thot the ¢harity does not supply medical or personal care. Reserves policy The chority h¥s an expendable endowment fund. The iernis of the endowmenl allow the capital of the fund to be Spent if the Trustee $0 detemiines. The general fijnd is unrestricted and is available to use for any pu4)ose in further8n¢e of ihe eharitoble obje¢is. The ¢hariry has a relaiively stable income Stream. subject to the risk factors noted above. Reserves are targeted io be suffici¢nl to fund ongoing property maintenance and to provide working capital. In the event of a shortfall, either investments will be sold and the funds trangfetTed from the Expendable Endowment Fund, or The Dyers, Company, as Trustee, and therefore having a long associaiion with ihe Charity, may be asked to make a donation. In view of ¢his the Trus¢ee believes that ihe level of reserves is sufficient to meet future needs. Plans for (he future The charity plans to continue the PTa¢ti¢e of growing incom¢ artd ¢apital so that the propetry can be maintained in good order, although it re¢ogni5es that hei8ht¢n¢d comm¢wi41 and politiral unc¢rtainty could result in fijture dividends and interest received being lower than in the past. Strutture> govern*nee & management Th¢ Dyers, Almshouse Charity CIO is a registered charity, nurnber 1185932. registered with the Charity Commission on 22 October 2019 and began operations when. on I, November 2019, with the consent of the Charity CoTnrr]i55iOll, the Trustec transferred the whole of the undertaking of the Dyer5' Almshouse Charity to The Dyer5' Almshouse Charity CIO. The Dyers, Almshouse Chariry whose registered charity number was 210755 was Constituted under a Scheme dated 8 June 1972. The Dyers. Company is the Trustee. The Court of The Dyers, Company ha5 the power to ballot for and elect new members to that body. A list of Court members throughout the year 15 set out und¢r R¢f¢r¢noe and Administrative Inforniation on page 7. Induction and troining,. The members of the Court have diveTse experience and trdining and new Court m¢mbers are progressively trained through attendance ai meeting5. TrusEee training sessions are organised p¢riodi¢ally. The Court meets Several times ayear and notmally discusses some aspectof ihe chariry's activities at each meeting. A Finance Committee meets five times a year to monitor progress. receive reports and ratify investment and financial decisions. An Estates Committee meets nvice a year to review and approve the need for major PToperty improvement and refurbishmeni works, and any significant planned preventative rnainienance. Key mfdllfdgement personnel remuDerAtioD The Trustee considers the Court of the Dyer5' Company and The Clerk (the chief executive) as comprising the key management personnel of the charity in char¥e of directing and controlling the chariry and running and operating the charity on a day-to-day b&5iS. Dyers, Almshouse Charity CIO Trustee's annual report at 31st October 2025 All Court members give of their tirne freely and no Trustee remuneration was paid in the year. Detsils of Trustee ¢xpen5¢5 and r¢lated party transaetitsns are disclosed in noies 13 and 14 to the accounts. Court members arc required to disclos¢ 811 r¢l¢vant interests and register them wilh the chief executive and in accordance with ihe charity's policy refrain from voting on decisions where a conflict of interest arises. A proportion of the pay of ihe chief executive. as well as oiher staff, of The Dy¢r5' Company (the charity's trustee) is recharged to the charity on a time spent basis. The chief exccutLVC'S salary 15 reviewed Annually and nomally increased in accordance with average earnings. The reTnuneration is beneh-marked with other Livery companies to ensure that The remuneration set Is fair and not out of line with that generally paid for similar roles. Major refurblshments In recent yearn Over ihe pas( ten years in excess of £1.2mil ha5 been spent on maintenance and iTnprovem¢nls including- 2015-16 Full refurbishment of I kitchen. Full refurbishment of I bathroom. Replacem¢n¢ of 4 boilers. Decorating I bungalow. Re-rijofing of seveTal bungalow5 Full refurbishment of 2 bathroom5. PY4rtial refurbishment of 2 bathrooms. Decoralirtg 2 bungalows. Creaiion of new car park. Full refurbishmeni of I kitchen. Full refurbishment of I bathroom. Partial refurbishment of 4 barhrooms. Replacement of 4 boilers. Decorating 2 bungalows, Re-roofirtg of several bunxalows. Full refurbishment of I kiichen. Full refurbishment of I bathroom. Replacement of 2 boiler5. Full refurbishment of 3 kitchen5. Full refurbishmeni of 2 bathrooms. Partial r¢furbishm¢nt of 2 bathrooms. Decorating of 3 bungalows. Full refurbishment of 3 kitchens. Full refurbishment of 6 bathrooms. D¢eorating of 3 bungalows. Fitting olnew electric gates. Personal Safety alann syslem renew¢d. Replacing mains waler pipework to 811 prop¢rt1¢5. Full r¢fuTbishm¢nt of 4 bunsolows. refit bathrooms and shower5 in 3 bungalow5 and r¢pla¢¢m¢nt of 2 boilers. Full refurbishment of one bungalow, r¢pla¢¢mcnl kit¢h¢n in on¢ bullgalow, planning in respect of Ihe potential ¢xtensign to the Clubro(Trm. Full Tefurbishm¢nt of I kitch¢Th. D¢¢oratin8, ¢arp¢ts, vinyl and electrical improvements to one bungalow. New cl¢¢trical supply r¢lating to new ¢l¢¢tric c(K)ker in one bungalow. Architect drawings & ¢05t c(In8ulian¢y in rcspe¢t of plonn¢d extension to the Clubroom. Expansion and refurbishment of the Clubroom. Full refurbishment of 2 bungalows. Re￿rbIShMent of I bathroom. 2016.17 2017-18 2018-19 2019-20 2020-21 2021-22 2022.23 2023-24 2024-25 Dyers. Alrnshouse Charity CIO Trustee's annual report at 31°, Octobor 2025 Almshouse Managorfs report 2025 With beautiful weather this year we have had ihe best and busiest time. The remodelling and refurbishment of the new Clubroom ihat joined property nos. 27 and 28 was finally completed and officially opened on 28th May. It is wonderful to have such a magnificent inside and outside space that can accommodate everyone and we have been sing it to its fullest extent. The Grand Opening was attended by residents, their families, The Woodroffe Benton Foundation (who very kindly donated half the funds for the refurbishment), the architects and rnetnbers and staff of The Dyers Company. the charity's Truslee. On such a sunny day it W&5 a real treat to be part of it. The new mana8er's otTice is of huge benefit to me, and residents regularly enjoy Coming to 51t and have 8 chat. Sin¢e the op¢nin8 of the Clubroom. we have put the space to very good use. All the resident5 have been really thrilled with the new area. and our first eveni was a Hawaiian luau party with colour￿l decorations which around 60 people attended and made good use of the new patio area. A fully functioning kitchen and utility room can now cater for more people and imponanily provide more cake5 than ever beforel Dyers, Almshouse Charity CIO Trustee's annual report at 31$t October 2025 We have held a couple of soiree5 the wami nights which w¢re v¢ry well attended - our firsi night Saw 21 resident5 enjoying a drink or two with a great deal of laughter and ¢amarad¢rie. We now have regular quarterly even15 lon altematc month5) with a residents. lor(ery and lunch, quiz nights and Saturday breakfasts. Weekly chaiT- exeTciselPilates, games club, bingo and crafts club take plac¢ thToughout th¢ week, and numbers allending are increasing. Our South African contingent even had a "Bring and Braai" ¢v¢nt as a gas BBQ has been generou51y donaied lo us. Some residents have had picnics on the palio and others simply enjoy Sitting outside under the parasols lo pass the time. Our annual bring and buy sale (which was 50 much easier to sei up and rnn} raised over £500 which has been added to our resident's por io bc spent on our anllual Christmas tree for ihe front forecourt, a fish and chip5 luneh. drinks and nibbles for evenings together, and other su￿tS110MS provided by our re5identS through our'we are up for it" ideas list. We continue to tend the siunnirbg front gardens that provide a serene and colourful space for our residents. Sadly, the drought has affected Ihe front lawns, but they r¢main remarkably green. Everyone who Vi5Lt5 rannot believe they are in the town centre of Crawley, and we r¢maill a haven of peace and beauty. General main(enance ha5 coniinued throughout the year,. the beech hedges have been cut, and a new shed ha5 been erecled (donated by the Clubroo contractor) replacing Ihe old rotten one removed when the new patio was built. As propenies b¢corne vacant. they are refurbished to a high standard and are rnade ready for ihe next beneficiary on the waiting list. We benefit fyom having a reliable tea of tTad¢5men who do an excellent job. During the year two dwellings were refurbished, and we welcomed the new residents at the begiDning of SepteTnber 2nd (kiober. Annual scrvicing of the alarm System and No lots of housc inspections will take place in Seprember. The estaie ha5 several wooden sheds that have been mainiained with new coal of wood preservative again this year. it Dy¢rs' Almshouse Charity CIO Trustee's annual report at 31" October 2025 A Tr update on everything that will be goingon for the next monih and beyond contiiiue% ta be produced for residents which Ibey really enjoy rcceiving. Called "Dates for Your Diarics" this monthly n¢wsletteT is an irnponani part of our community. The twenry-eighi singlc storey, arts and ¢rafts style dwellings provide very comfortable dnd well maintained aecommodaiion. with a back garden that is 10 be looked (ifter by each incumbent, R¢sid¢nts are visited every weekday morning by the manag¢T {or d¢putyl, unless they have signed a disclaimer and don'i wish a visit. But it is clear Ihar as residenrs age, this visit becomes tnuch more imporrant. Quarterly vislts 10 thc resTdenis are made by the Clerk and Renier Warden of The ftyers, Company (the charity's Trustee) and alms hre given at Chrisunas and E(i.%lCr. With a background in nursing and prcviously as a PA and operations director for a residential care coinpany, l am very graieful 10 have ihe responsibility ¢)[ supporling and c(Iring for almshouse rcsidcnls as well as mainiainin¥ Iheir homes and grounds. I would very tnuch likL 10 Ihank the Dyers Cornpany for supportin¥ me fully in my managern¢nl role and the offiLers of Ihe Company who gTenerously support Th¢ Dyers, Almshouse Chariry CIO. Mary Gray. Rcsident Managcr Dyers, Almshouse Charity CIO Trustee's annual report at 31$1 October 2025 statsment of Trust8e'8 rnsponsibilities in rospoct of the accounts The TTUStee i$ respon$ible for preparing the Trustee's RetK)rt and the fTrnancial statements in accordance with applicable law and United Kingdom Accoullting Standard5 {United Kingdom Generally Accepted Accounting Practice). The law applicable to charitie5 in England & Wales requires the Trustee to prepare financial statements for cach financial year which give a true and fair view of the state of affairs of the charity and of the incoming TeS0u￿¢S and application of r¢50urc¢s of the ¢harity for that period. In preparing these financial st￿eMentS, the Trustee is required to.. select suitable accounting policie5 and then apply thetn consisienily: observe the methods and principle5 in the Charities SORP- moke judgements and estimates (hai are reasonable and prudent: state whether applicable acc(wntin8 slandards have been followed, subject to any rnaierial departures disclosed and explained in (he financial statements. pr¢par¢ the flnancial sid￿ments on the 80ing concern basis unless it 15 inappropriate to presume that the Charity will continue its activities. The Tnjstee is re5pon5ible for keeping proper accounting record5 that di5c105e with reasonable accuracy at any time the financial p051tion of the charity and enable it to ensure that the financial statements comply with the Charities Act 201 l. and the provisions of the tNst deed. It is a150 responsible for saf¢guarding the ass¢ts of ihe charity and hence for taking reasonable steps for the prevention and det¢ction of fraud and other irregularities. The Trustee is responsible for the maintenance and integrity of the ¢harity and financial inforniation included on the charity's website. Legislation in the United Kingdom 8oveming the preparation and di$$emination of finaneial statements may di￿er from legislaiion in other jurisdictions. Approved by the Trustee on 4th February 2026 and signed on its behalf by M G Mathieso Prime W eft f the Trustee S W Cl¢aver- Renter Warden of the Trustee Dyer5' Almshouse Charity CIO Independent auditor's report To tho Trustoe of The Dy¢r6' Almshouse Charlty CIO Opinion We have audited the financial statements of Dyer5' Almshou5¢ Charity CIO for the year ended 31 October 2025 which comprise the Statement of Financial Activities, Balan¢e Sheei and notes to the financial Statements. includin8 a summary of significanr accounting policic5. Th¢ financiAI reporting framework that has been applied in their preparation is applicable law and Unit¢d Kingdom Accounting Standards. including Financial Reporting Standard 102, the Financial Reportin8 Siandard appli¢able irt the UK ond Republic of Ireland (United KingdoTn Generally Accepied Accounting Practice). In our opinion the financial stalernent5'. give a true and fair view of the state of the charity's affairs as at 31 October2025 and of its net movement in funds for the year then ended. have been properly PTepar¢d in accordance with United Kingdorn Generally Accepted A¢¢ourtting Practice., and hove been prepared in accordance with the requirements of the Charities A¢1 2011. B*$is for oplnlon We have been appointed as audiior under se¢lion 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulo¢ions made or having effect ihereunder. We conducted our audit in accordance with International Standards on Auditin¥ (UK) (ISAS IUK)) and applicable law. OUT responsibilities under those standaTd5 are furth¢r d¢s¢rib¢d in the Audiiof's responsibilities foT the audit of the financial statemenis seetion of OUT report. We ar¢ ind¢pendent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial Statements in the UK, includin¥ the FRC'S Ethical Standard, and we have fulfilled our other ethical re5ponsibilili¢s in a¢¢ordance with these requirements. We believe thal the audit evidenee we have obtained is sufficient and approwiate to provide a basis for our opinion. Conclu$lony relating to gtslng eoneern In auditin8 the financial staiements, we have concluded that the Trustee's use of the going concern basis of accouniing in the prepordiion of the financial statement5 15 appropriat¢. Based on the work we have perfornied, we have not identified any material uncertainties relating to events or conditions thai, individually or collectively, may cast significant doubt on the charity's ability to continue as a 80in8 concern for a period of at least twelve months from when the finArtcial statements are authDrised for issue. Our responsibilities and the responsibilities of the TThst¢e with respe¢¢ to going concern are described in the rel¢vant S¢Ctions of this report. Other inf¥Jrm*tion The Truslee is responsible for the oth¢r informa¢ion. The other information comprises the infomiation included in the Trustee's Annual Report. Our opinion on the financial statetnents doe5 tiot cover the other infomiation and, except to the extent othen¥ise explicitly stated in our rep(Trrt, we do not expres5 any forrn of assurance conclusion thereon. In connection with our audit of the financial staternentg, our responsibility is io read the other inforniation and, in doing so, consider whether the other infoTmatiOll 15 tnaterially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise app¢ars to be maierially misstated. If we identify Such material inconsistencies or apparent material wnis5tatements, we are required to delerniine whether there is a material misstatement in the f￿ancial statements or a material misstatement of ihe other infomation. If, based on the work we have perforned, we conclude that th¢r¢ is a material misstatement of this other infomation, we ar¢ required to report that fact. We have nothing to report in this regard. Dyers, Almshouse Charity CIO Independent auditor's report To the Trusteo of The Dyers, Almshouse Charlty CIO Matters on whlch Y4e *re r¢qwlr¢d to report by tx¢¢ptlon We have nothin8 to report in respect of the followin8 matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if. in our opinion.. adequate accounting records have not been maintained by the charity,. or sufficient ac¢ounting recoids have not been kept; the financial statements are not in agreement with the accounting record5 and rethm5; or we have not received all the inforniation and expl8nations we require for our audii. Responsibilities of Truytee for the finaneial statements As explained more ￿llY in ihe Trusiee's responsibilities statement sel out on page 8, the TTU5tee 15 respon9ible for the preparation of the financiAI statements and for being 5atisfi¢d thar they give a twe and fair view, and for 5u¢h internal control as the Trustee detern)ine is necessary to enable the preparation of financial statements iha¢ are fr¢e from material misststemeni. whether due to fraud or e￿or. In preparing the financial 5tatement5, the Tru5te¢ 15 responsible for ￿5¢55ing ihc ¢h&rity'5 ability to continue os a going concern, disclosing, as applicable, matter5 related to going concern and using thc going concern basis of accounting unless the Trustee either intend to liquidate the charity or to cease operation5, or have no realis¢i¢ alternative bui ro do so. Audltorg, re9pon8lbllitie8 for the audlt of the IlnanclAI sl4ternenls Our objertlV¢5 ar¢ lo ob¢ain r¢a5onable a5surgnce about whether the financiol statements as a whole are free from Tnaterial mi5Sta¢ern¢nt, wh¢ther due 10 fraud or error, and to issue an auditor's repon ihai includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audii conducted in accordance with ISAS (UK) will alway5 detect a material misstatement when it exilts. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influcnce the economic decisions of user5 taken on the basis of th¢$¢ f￿ancial $tot¢m¢nt$. Irregulorities, including fraud, are instances of non.compliance with laws and regulation5. We design procedures in line with our responsibilities, outlined above. to deieci material mi55tatements in respect of I￿egUlarl11es, including fraud. The extent to which our procedures are capable of detecting itTegularities, including fraud 15 detailed below.. Bgsed on our understanding of the charity and the environment in which itoperates, we identified thatthe principal ri$k$ of non-compliance wilh laws ond regulaiions related to registeTed chariiies. and we considered the exlent lo which non-complianee might have a material effect on Ihe financial statements. We also considered those laws and T¢gulations that have a dire¢t impact on the prepar&iion of the financial siatemenis such as the Charities Act 2011 and other fa¢tOTS such as taxation. W¢ ¢valuoted manag¢menl'S incentives and opportut]iiies for frauduleni manipulaiion of the financial sratements (including the risk of override of controls) And detern)ined thai the principal risks were related lo manual accounting jOUTnals. Audit pro¢edures p¢rfornied by the engagement team included.. discussions with rnanagement including consideration of known or suspected instanc¢5 of non- compliance with law5 and regulation and fraud- evaluating management'5 Controls designed to prevent and detect irregularitie5,' identifying and tesiing manual accounting journals. in particular any unusual items.. and challenging &gsumptions and judgementg made by management in their critical accounting estima(e5. B¢cause of the inherent limitations of an audiL there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Thi5 risk Dyers. Almshouse Charity CIO Independent auditor's report To the Trustee of The Dyer8' Almshouse Charlty CIO increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the finat]cial sraiements, as we will be le55 likely to become aware of instances of non-compliance. The risk is also greater regarding itTegularities occurring due to fraud rather than erroT, a5 fraud involves inteniional concealfflenl, forgery. collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is lo¢ated on the Financial Reporting Council's websit¢ at.. www.fre.org.uklaudiiorsresponsibilities. This description fomis part of our auditor's report. Use of our report This report is made solely ro the charity's trustee, as ft body, in accordance with section 144 of the Charities Act 201 l and regulations made under section 154 of that A¢t. Our audit work has been undertaken so ihai we might stot¢ to the charity's trustees those matters we aT¢ T¢quir¢d to $tale io them in an Auditor'5 report and for no other purpose. To the fullesi extent pern]itted by law, w¢ do noi accept or assume responsibility to anyone other than the harity'$ irust¢¢s as a body for our audit work, for thi5 report, or for the opinions we have formed.