2024-06-30-accounts

Charity registration number 1203684 THE LOUIS.BAYLIS"CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

THE LOUIS BAYLIS CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr Petèr Sands {Chairmanl Mr J Robertson iVIBE Mr P Murcott Mrs PA Lattimer Mr M Trepte BEM (Appointed 22 June 20231 (Appolnled 22 June 20231 (Appointed 22 June 2023) (Appointed 22 June 2023) (AppoSnted 2 July 2024) Charity number 1203684 Main address PO Box 4832 Maldenhead Berkshire SL60 1JQ Accountants DSA Pr95pectAudll Limiled First Floor 1 Des Roehe3 Square lan Way Wilney OX28 4BE Bankèrs Natwest Bank pk 66 High Sireet Malllenhead Berkshire SL6 1QA so￿¢1t0rS Charfes Russell Speechly LLP 5 Fleet Place London EC4M 7RD Investmènt advisors Investec Wealth & Investment (UK) ￿MIted 30 Gresham Street London EC2V 7QN

THE LOUIS BAYLIS CHARITABLE TRUST CONTENTS Pagè Tnjstèès, report Accountants, report Slaletnenl of financlal aCtm￿85 Balan￿ sheet Notes to the financial slalemenls 10-16

THE LOUIS BAYLIS CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2024 The Iruslees pre80nl their annual report and financial statements for the year ended 30 Jvne 2024. The firjancial statements have been prepared In accordance with the aceounllng pollcies set out in note ncte.note01 to tho financial stalem8nts and comply wélh the charlty's governing poliues, the Charities Act 2011 and "Accounting .2nd Reporting by Charities: Slaloment of Recommendod Practice applicabla lo challties preparing thelr accounts accordancè wlth the FlnancAal Reportlng Stsndard 8pplicab5e in the UK and Republic of Ireland (FRS 1021. {effeclNe 1 January 20191. Oble¢tIv￿ and activllles Our charll8ble objective is set out In our TNst Deed of 22 June 2023.. The objects of tha CIO are to fvrth8r such haritable purposes as the trustee5 shaN from Irne lo lime in thelr absolute discretion seleet. Charitsble actlvlttes This seGtion refers only to the charity and its actiwlie5 and not lo the trading subsidiary. Thé charity fulfilled its obligallons during the period with grants and donations being rnada to local charitias in the sum of £3,080. During the pettod tsvo organi8allons beneffted from the charity. The n8wspaper provldes the Trustees Mpilh an ext@nsNe annual report In regard to ils charlable actNitias wlth particular referenco as lo how local joumallsm support8 the charitable purpose of prowding a public benefit. Indlcators, milestones and benchmarks The trustees are sausfied with their granl-rraking policy during the past year.They have covered a wide spread of charities and organisations and. although signKlcanl mon618ry grants have been made, il will be seen from the schedule that Ihey have a policy of making many small grants to local charitable actiiqlies. Although small in amount. Ihese grants, in rnany Instances. provide a vital stirnulus for the thaTity workers involved. Ws are also cognisanl of the fact that a nUTnber of local charities have, in a sense, becorne dependent upon the annual grants from our trust. Such charitiès have to provide us with regular activity reports and delals of their financial accounts. Care is taken lo ensuro that previou5 grant monles have been expended for good purpose. Our Gharity will continue its closè relationship with the Bayli5 Community CIC, which publishes The Newspapers. The TTUStees are committed lo ensure that the unique relationship continue5. We will con11nue lo work closely wllh The Newspaper8 vtho proiride an Important source of publieity regarding our local grants and the impact they have on the community. We Iruslees are consGYou$ of our responsibilities underthe EqualityAct 2010. We activety en(x)urage applications for grants from all sectlons of the communities of Maidenhead, Windsor, Slough. Burnham, Twyford and Marfow. We do not like lo set benchmarks in regard to what proportlon of our grant monies arg allocated to particular needs groups although it is tru8 to say that the bulk of our donations are for the benefrt of the elderty, young and disadvantaged. 11 is not our geneRI poficy to make donallon8 lo Individuas however worthy those applicants may be. We do not confine our grants lo other registered charities. Each application is considered on tts merTts. Applications are generalfy dealt with al the iwo half-yearly meetlngs although the twstees have during the course of the pasi period r88Cted to the special needs of loral charitie5 and made emgrgenBy grants as necessary. The trustees hava re￿eWed their grant-making policy In Ilghl of the Equalty Act 2010 and con81der that il is compliant vAlh the Act. The trustees ara salisfi6d that their p0￿cY does not unlawfully dlsctirninale against applicants with prDtÈcted characterisllcs or in any way contravene the prowsions of the Equality Act 2010. The trustees are awaro that the grant-maknng policy en¢ourages applications from tha Royal BoTough of Windsor & Maldenhead bul would highlight the fact that the grant monles are allocated to all sedons of the comrnunity and that each grant 15 cxJn81dered on its rnerils.

THE LOUIS BAYLIS CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Activities and events We have had another succassful pariod and the trustaès w8r8 plaasad lo b8 abla lo continue to maka grants and donalioT15 al a la￿1 of £3,080. "￿T'here'¢0￿unuosto"b8.a strong trend.of newsp3peT readerg.m0￿￿g onliDe'as well gs.ck551r￿d advertiseTS"mO￿ng away from prtnt. To combat these ¢hangtr5 Ihe.n8wspaper has had lo make some signtficant changes in staffing, printing and in.the products themselves and continuously look5 at new opporiunilies lo diversify. The trustees are confident that the newspapers will continue lo flourish as a community interest wmpany. Flnanctal review Flnan¢lAI results of activities and events Our firianclal stslements outline our income and expendllure lexc4uding the rèsults of th8 subsidiary}. During the period in question the charily's to1￿ incoming ￿sOurceS were £11.131,792, including £11,"125.197 of funds transfèrrèd from the Louis Baylis (Maidenhead Advertiser) Charitable Trust, with resources expended of £4,678, including grants and donations tRade of £3,080. Thé governanc8 cos15 of the charity were £1,598. The fttnds of the d)arity were an unreslrlcted general .charity of £556.693. an expend8ble endowment of £6.547,244 and a permanent endowrnenl of £4,022,177. Going concem The Iruslees hava ctsnsiderèd thb period ol al least twelve months from the date of approval of the balance sheet on making Ihelr assessment. Despite uncertainties SLTrrounding the carrying value of the inveslrNenl'portfollo and. the expe¢led investment incorne that will be generated from these investments going forwards, the Trustees ar& confident that they have suffieient cash raserves to gnoble lo meet liabil￿eS as they fau due. Grant4naklng We have already made refe￿nce in detail lo thè grants made and the grant-maknng policy of the ITUSI. The trustees review the grant-maknng policy annualty to ensure it remains appropriate to the strategic direction of the charity and ils objects and thereby advances public tsen&fiL To this end, the trustees annu￿lY review tti& trust's granl-making procedures. Reserves policy The group reserves al ihe period end were LXX (2023.. £14.039,8641. Under the lerrns of the conslilulion the trustees are Inslrucied to stand possessed of the trust fund upon trust for the appficalion of the income. Under the terms of the capital donations received from Baylis Medla Limlted to"Louis Baylis (Maidenhead Advertiser) Charitable Trust the ttU51ee5 either must or may apply income (unless the trustees exercise Ihetr power lo accumLdate income) and also have power lo expend part of the capital as income. It 15 the Iru51ees' Intention to dlslribute its income locally and nationally as soon as possible. The trustees are, however, con$clou5 that a number of Eharilles are accustomed lo regulaT grants from the charity and. as such, does, Iherefore, carry a certain level of reserves to meet these chaiilie5' expectations.

THE LOUIS BAYLIS CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Investment policy The TNsts principal discFelionary fund managers continue lo be Investec Weal(h & Investment (UK) Llmited (now part of the Rathbones Group Plcl and Quilter Chevlot Limited. These investment funds have similar investment objectives, altitude lo risk and performance benchmarks. The Twslees conslder that as they have significant funds und8T discretionary. managÈmenl,..the running .of.fv￿. porffolios. in parall&l.giv85 them a.u5ehl opportunity.to compare inveslment perfom)an¢e. The core objecfive within both PDrtfoiios is a balanced return between income and eapltal with medivm risk, wlh lime horlzon in excess of ten yoats. The of the portfolios is to bulld the capiial of the charlty in order lo diversify the asset base whilst SYII provldlng a level of income lo support charitab16 purp0585. We have determined that the, performance of our portfollos oveT the bng term should be measured against CPI plus 3Yo lo demonstrate whether the portfolio has been maintaining its real value. We have annual maalings wllh both sets of investment adwsoTS to review asset allocation. investment strategy. performan￿ and benchmarks. At 30 June 2024 Investec Wealth and Investment (u￿ Lim￿ed (now part of Rathbones Group Plcl 8nd Quilter Chemol Limlled held under managed funds al a valuation of £10.547.245 compared to a an orlgtnal historical cost inwrred by the Louls Bayils IMaidenheadAdvertlserl Ghatitable Trust of £8,865,708. We rneel regularly to consldei thè svitability of the ehari18ble trust's investments and th6 morlts of diversificallon. In addition lo the investment portfolio. as discussed above, the trustees hold the enltre issued Share capital of Baylis Media ￿mited. There are risks irj holding a slgnificanl weighting in a ￿ngle inve51menl for which the trustè&s have been Tewarded by significant payments over fhe years by way of gtft ald.11 is a circumstance of the charitable trust bul our Trus£ DeBd dD¢S not confei power to sell thes@ shares. HoweveT. we are aware of our responsibiliiy lo secure the fullest benefit that we can from this holdlng. During the period we met regularfy wilh the board of Baylis @dia knmiled lo 4xJnsider ils perfornian￿, which for the year to 30 June 2024 has been challenging glven the difficult market ￿rG￿MStanc&S in which the company is tradlng at tha present lime. As mpntiDned eaElier in the report, the newspaper buslness has been transfe￿ed to Baylis Cornrnunily Media CIC. Going forward, Baylis Media Lirnitèd WTII essentially be a propèrty vwning investmenl company. Plans for future p?riods The trust intends lo maSntaln 115 2￿$tIng policy of grant dislrtbuliDns and to lake ac¢ount of the provbslons of th8 EqualityAcl 2010, as previously mentioned in this report. Our frust will continue to support local charithes during the ensulng year bul an eye also to the needs of regional and national charitie5. We wll continue lo develop Dur Invpslrnenl policy to enhance the Incom9 from OUT Irivestment portlofio.

THE LOUIS BAYLIS CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Structure, governance and management Sta￿s and history The.Louis Baylls IM8idenhead Advertiser) Charitable Trust was established by a Trust Deed dated 31 March 19 and was tlie predècè550r-lo the Louls Baylis Charilabie'Trust. The Louis Baylis Charflabie Tru51 was established by a Trust Deed dated 22 Jun& 2023. In 1962 the proprietor of tho Maldenhead Advertiser, Louis Baylis, created a Charitable Trust which Continues to bear his name.-Thè charitys funds constitute a significant investment portfolio. togather with the entire issued share capi18t of Baylis Media Limited, the publlsher of The Maidenhead Advertiser, Tha Slough Express and The Wndsor and Elon Express 'The Newspapers.. Clause 2 of the Tlbst Deed directs the trustees to hold their Investment in Baylls Media.Limiled (the 'coMpanY￿ on trust to apply income in perpeluity lor s￿h charitable purposes as they shall, from timè lo time, In their absolute dis¢r@Ilon, selecL The company on 1st March and 5th MaTch 2006, in pursuance of resolutions dated 25th Oeiober 2005 made capltat donations lo the charlty, thereby broadening and supplementing the Iruslees, powers of adtninislralion of the assets of the charily. The Iruslees, have power lo admlnlsler the 2006 donallons as a separate and unrestricted fund alongside the charity's permanent endowTnenl. The trustees rnust apply the In￿me and may supplement that by expendlng capital from the fund for the above described charitable purposes. The cornpany in December 2007 and January 21]08 in pursuance of resoluJons dated 13 September 2007 made additional capital donations. One donation went lo the eslablishtnent of a permanent endowment fund for the charfty and gave the trustees the discretion to accumulate income. Another went lo enlarge the axpèndable endowment fund established in 2006, giving the trustees the discrellon to convert to income. These funds ara also held for the above described Charita￿e purposes. On 3Ct June 2022 th& company transferred the rtewspaper business lo Baylis Community Medla CIC {registered numbeT 14107804)- This was afier careful consideratlDn of ihe mallw by the directors of th8 cornpany. who considared that the newspaper business managed by the company could be more eonvenienlty managed and operated by a Community Intere51 Company. The objects of the CIC are lo cary on a¢ttvilles wh1ch benefit the conmunmy and in parf¢ular (wlfftoul limilallonl to benefrt the communities of Maidenhead, Slough. Eton and Windsor and the Surrounding arèas (the communities) through th8 publlcalion of printed and online maleri8ls with a non-polilical Stan￿ and also olh&r non-polrtical joumali51ic actbvilies by infomiing, representing, campaigning and inlerrogaling (In beha￿ of the communities, being a voice for the local communty to express views.and to ancourage a cohesive. Ihriving and supportive community spirit. Baylis Media ￿MIted wa5 a wholly owned trading $ub5idiary of the LoLEiS Baylis (MaSdenhead Advertlsetl Charilablo Trust (Registered ChaTity Number 2105331 (rhe "Charity,? and is now a whully ovmed trading subsidiary of the Louis Baylls Charitable Trust IReglslered Charity Number 1203684). The Iruslees of the Charity have eDnfirmed their support of the transf8r of the new3paper busines5 to the CIC. The Charity is the specified assel-locked body under the Artlcies ofA58ocialion of the CIC. In June 2024 the assets and actiwties of the Louis Baylis (Maidenhead Advgrbse¢ Charitable Trust were Iransferred. to the Louis Baylis Charitable Trust.

THE LOUIS BAYLIS CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Oryanisational strLtcturo The overall 51ralegiG diredion of rhe tharity Is determined by the trustees who meet formalty al least four Ilmes a year lo consider and further develop the ITusI's objecllves. At these me$ling8 grant applications are considered and grants made. During the covr8¢ of any period the Irusl8&s havè a number of ad hoc meeting5 to wn5ider y•llV•￿..Qrn9rgenCY grantappJieatlOn5 and any other irnportanl administrative issues which need-lo be dealt wlh.- The trustees do not delegate their authority in regard to grant de¢i$ions and personally consider all the submissions made 8nd make their delemiinalions accordlngly. Our part-lime admini8lralor deals with a signhlcant portlon ol the grant appncatlon re￿eW process, particularly in règaTd lo smalleT grant applications which the Iruslees do encourage. Our website and the r6l&vant Ilnks to The Newspapers have enhanced our profile in the Royal Borough of Windsor & Maidenhead which is the prtncipal aTea which we seek to benefrt wlh our donations. The trust is focused on the long-tem goal of 30¢ial progress and is committed to tnaking a real dtfference lo the fortunes and lives of th8 inhabitants of the Royal Borough of Windsor & Maidènhead. Indeed, the Irusl's objeds extend beyond the Royal Qorough and grants and donations lo nalonal ¢haiities are considered. Grants are made lo national and regional charities. although applicants should understand that il is still the Iruslees, policy lo make a greataf proportion of Ils grant monies avallable lo local charities and organisalions. The Iruslees have no need to CTeate sub-committees although thè WOTk of our part-time administrator does lead to streamlining the grant applications proc6dures and. inde8d, fac41ilates ease of access foT applicants. M8thod of rÈerultmtn( appointmenl etection. inductlon and Iraining of trustses The slatulory power lo appolnl new and addillonal trustees conlalned in the Constilullon applles lo the tharity and is exercisablè by the trustees. This is not a natlon81 charlly,. 11 not Involved in fundraising and ils primg obje¢llve18 that of gr8nt-maklng. It does not, therefore, need an Èxtenswe board of trustees. Tha Irust8es aw8re of their respon5ibililies under the Ch8ritles Aet 2022. They conflrm that they have refer￿d to the guidance contained in the Charity Commission's revised public bènefrt guidance when reviewing the trust's aims .and objectives and in planning fijture activities and selling the gr8nl-m8king policy for the period. We will keep under continuous revlew the question of recruilmenl, appointment. election, induolion and trainiHg of Iruslees and ensure that we.Iruslees keep up to date in reg8rd lo the ch8nging world of ¢harity law and administration. The charity has a wholly owned Iradlng subsldtary Bayli5 Media Limrted, whos6 Te5uIts are con801idalÈd in the financial statements for the Irusl. The prlnciple actiwly of Baylis Media Ltd up to June 301h 2022 Is th41 of newspaper PToprietors and subsequently a propety inve51menl company. The company, in additson lo the newspapers. wholly owns subsidiary undertakings, both of which are dotrnanl and a participating interest in Tharnes V811ey Independent m￿lIa Ltd. The two subsidiaETes and the participating interest have been transferred to the CIC. With effect 30 June 2022, the newspaper business was transferred to the Baylis Community Media CIC. Tho inlolle¢tual property rights of fhg newspapers h8vÉ been retained by Baylis Media Ltd and licenced lo the CIC. Risk and corporate governance matters As detailed earlier in the report the newspaper busine85 has been transferred to the Baylls Communily CIC. Our chaiman. Poter Sands, 1$ a membei of the CIC. Thu5 we wll continue to have a close retalionship and to 8UPPOrt theli Charflable acbvllles by way of grants. Going fo￿ard Baylis Media Ltmiled wll own the Bell Street properties and the intellectual property rights of the nèwspapèr. Trustees P. J. Sands and P. W. Murcott together with M. R. TTepte appointed 2 July 2024 will continue as direcloTS of Bayli8 Media Limited. R¢lationship with other bodles We are primarily a local charity and are not represented on regiond or national bodles. The trustees do not see that as their purpose.

THE LOUIS BAYLIS CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Relatlonshlp with rèlated parties The trust wholly owns Baylis Media Limited. Three ofthe Iruslees. P J Sands, P VV Murcott and M R Trepte, are emb¢rs of th8 board of the company wtlh P J Sands being the non executive chairman. Baylis Media Limlted owns and manages the Boll Street properties. They also own the intellectual ptupgrty. rights of The Newspapers . Tha trus1885' report was approved by the Board of Trustees. Mr Peter Sand5 {Ch*iman)

THE LOUIS BAYLIS CHARITABLE TRUST CHARTERED ACCOUNTANTS, REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE LOUIS BAYLIS CHARITABLE TRUST FOR THE YEAR ENDED 30 JUNE 2024 In ord&r to assi51 you to fvsfil your dulres undeT the Charities Act 2011, we have preparad for your approval the finandal statements of The Louls Ba￿lS Charitable TTUSI for the year ended 30 June 2024. whlch comprise the statement of financial aclivilies and the r8latad notes from the charlty's ac¢ourrting Tecords and frorn inforrllallon and exp5anabons you have given us. As a praelising member firm ol tho Associallon of Chartered Certified Accountants, we are subject lo ils elhiGal and other professlonal requirements wh￿h ale detailed at https'.IAww.aCcaglobal.￿ThIgbIenlMQMbQ[1Stand0r￿sIrU1e and-standardslrulèbook.html. Thls report Is made lo the charily's INstees, as a body, in accordance with the tems of our engagement letter dated 14 December 2023. Our work has been undertaken solew lo prepare for your 8pproval the fillancial slalernents of The Louis Baylis Charitable Trust 8nd statè those matters that we have agreed lo slate lo the charitvs trustees, as a body, in this report in 8ccordanc& WTth the requirernents ol the Association of Chartered Certified Accountants as detailed al http5.'lth￿.aCCag1Oba[.0Jm1C0nIentldamIAc¢LG1obJlTe¢hn1callfacv1echnlCal-faCfshe￿t-fj83.pdf. To the fullest extent perrnitted by law, we do not aceept or assume responsibility to anyone other than The Louis Baylis Ch8rit8ble Trust and tho ¢harlty's trustees a8 a body, for ourwork or for this report. It is your duly to ensure that The Louis Baylis Charitable Tnjst has kept 8dequale a¢¢ounling rècords and to prepare slalutory financlal statements that glva a true and fair view ot the assets, liabilities, financial posllion and surplus of The Louis Bayli5 Charitable Trust. You Consider that The Louis Baylis Charitable Trust is exernpl from the statutory audtt requlremenl for the year, and is not required lo obtain an independent examiner's report. We have not been Inslru¢led to (srry out an audit or a review of the financi￿ slalemenls of The Louis Baylis Charitable Trust For this reason. we have not verified the accuracy OT completeness of the Bccounting records or information and explanations you have given lo us and w8 do not, Ihgrefore, express any Dpinion on the statutory financial statements. DSA ProspeGtAudit Limited Chartered Accountants Flrst Floor 1 Des Ro¢he$ Square Witan Way Wiiney OX28 4BE

THE LOUIS BAYLIS CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024 JJnre5trlct•d furtds 2024 Permanont Expelldabl• endowment èftdowment 2024 2024 Total 2024 Incomè and andowments from: Invèstments Other In￿me 6,595 555,776 6.595 11.125.197 4.022,177 6,547.244 Total income and endowments 562,371 4,022.177 6.547,244 11,131.792 Expenditure on.. Chaiilable aclwities 5,678 5,678 Total expenditure 5.678 5,678 Net income and movement in funds 556.693 4.022.177 6,547.244 11.126,114 Reconciliatian of fun(ts: Fund balances at 22 June 2023 Fund balances at 30 June 2024 556,693 4,022,177 6,547,244 11.126,114 The slalemenl of financial activities includes all gains and Iossgs re¢ognised in the year. Al Income and gxpendibjre derive from continuing activities.

THE LOUIS BAYLIS CHARITABLE TRUST BALANCE SHEET AS AT30 JUNE 2024 2024 Notgs Flxed assets Investments 11 10,569,422 Cut7ent assets Cash al bank and in hand 559,192 Croditors: amounts falllng due wlthin one year 12 (2.500} Net eurrènt assets 556,692 Total assets less current11obllltie 11,126.114 The funds of the eharity Expendable endowment Pemianenl endowmgnt UnTeslrKled funds 13 14 15 6,547.244 4,022,1ri 556,693 11.126,114 Thè17nancial statements wera approved by the trusleas on Mr Peter Sands (Chaimianl

THE LOUIS BAYLIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting policles 1.1 Accountit7g convention The financial st8lem&nls ,have been prepared. in accord8n¢o with Ihe.¢harity.'s.governing document, .tbe Chwilie$ A¢1 2011, FRS 102'Th8 Financial Reporting Standard applicable in the UK and Republic of Ireland. fFRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement Df Recommended Practice applicable to charities prep8Tlng their accounts in accordance with the Finandal Reporting Stsndard applicabl& in the UK and Républic of Ireland IFRS 1021" (effèctive 1 January 2019). The charity Is a Pubfic Ben6fft Entity as defined by FRS 102. The charity has lakon advantage of the provlslons In the SORP for charities not lo prepare a Statement of Cash Flow8. The finaDa81 statements have departed from the Charities (Accounts and Reports) Regulations 2008 onty lo the extent required to provide a tFue and fair view. This dèparture has involved following the Statement of Recommended Practica for charities apptying FRS 102 rather than the version of the Statement of Recommand8d Pra¢tlce which is relerred to tha R￿ulations bul which has since been wl(hdrawn. The financial statements are prepared In sterfing, whlch is the functlon81 ¢urrency of the tharity. Monetary amounts in these financial ststèmenls are round8d to the nearest £. The financial slalemenls have been prepared under the hislorfc41 cost convenllon. The principal accounting policies adopted are sel out below. 12 Golng eoneem At the time of approvSng the financial statements, the trusteès have a reasDnable expeototion that the charity ha5 adequate resources lo coTrlinue in opeialional existence for the foreseeable fijture. Thus the trust88S continue to adopt the going concern basis of accounting In preparing the finanaal statements. la Charitable fund Unrestricted funds av8dable fcir use at the di￿ratIon of the trustees in furtherance of thelr chattsble objectives. Pemianent endowment funds aTg subl&¢t to Specffic conditions by donors ur grdnlors as to how they may be used. The purposes and uses of the restricted funds are set out In the notès to the financial slalemenls. Expendable endowmentfunds arè subject to specific conditsons by donots that the (zp5tal must be maintained by the charity. 1A Incomg Income is re¢ognlsed when the charity is legalty Èntllled lo il'after any performancè conditions have been met. the amounts Gan be measured rellabty. and11 Is probable that income will be received. Cash donations are recognised on reThipl. Other donations aTe rècogiiised once the charity hag been noltfied of the donation, unless perforniance conditions require daferral of the arnounl. Income tax r6coverable in relation to donations rgeeived under GiftAtd or doads of covenant15 recognised at tho time of Ihg donation. Legacies are recognlsed on recelpl or otherwise if thè Charlly hay been notified of an impending dI51ribution, Ihe amount is kngwn, and re￿Ipt is axpect&d. Ef the aM￿JnI is not known. the legacy is treated as a contingent asset. 10-

THE LOUIS BAYLIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accounting pollcles Icontinuedl 1.S Expgnditure Expenditure is recognised once Ihefe Is a legal or constNctlve obligation to transfer economlc benefft lo a third paty,"It"is prcibable thai a Irarisfèr of e¢oriomic benefits wlll be requiréd In settlement. and the amount of the obllg8tion can be measured reliably. Expenditure Is classified by activity. The costs of gach actlvSiy are made up of the total of direct Costs and shared costs, including support costs Invo￿ed in undertaking e8ch activity. Direct costs attributablè lo a single activity 8re allocated dire¢lly lo that acuvity. Shared Costs whith contribute lo rnore than one atlivlly and support costs which are not attributable lo a Single aCtI￿lY are apportioned between thosè actiwties on a basis consistent wilh the use of resources. Central staff costs are allooaled on the basis of lime 5penL and depreciation charges are ￿lOcated on the portion of tha asset's use. A subsidiary is an entlty cjjnlrolled by the chorty. Control Is the pow6r fo govern the finandal and operating poliaos of th8 8ntity so as to oblaln benefits from tts activities. 1.6 Cash and cash equlvalents Cash and cash equlv8lenls include cash in hand. dep9511s held at call ￿th banks. other short-lemi liqvid Inv&%lmenls wlth orlginal maturities of three months or léss. and bank ovgrdrafts. Bank overdrafts are shown within borrowngs in current liabllille$. 8asio r Inanclalassel Basic financial a55ets, whlch include debtors and cash and bank balances, a￿ initially measured at transaction price induding Iiansaction costs and are subsequently ￿rried al amortisèd cost L15ing the effective interest method unless the arrangemènt conslilules a financing transaction, where the Iransa¢t(on is mB3sured al the present value of the future receipts discounted 8t a rnarket rate of intere51. Finanaal assets dasslfiéd as receivable within one year are not amortised. Inancialliabilities Basic finanaal li8bilttie5, Induding creditors and bank loans are initially recognised at tran$8¢tion prtce unless the arrangement conslilules a financing transa¢tlon, where the debt instnfmenl is measured al the present Value of the future payments d¥S￿Unted al a market Tate of InleresL Finandal liabllllies classified as payable within one year not amortised. D8bl instruments are subsequenuy carried at amortised cost. using the effective intewsl rale method. Tradè creditorg aTe obligations to pay for goods or se[w￿5 that have been acquired in Ihe ordlnary course of operations from supFAier8. Amounts payable a￿ clas5ffi8d as current liabiliues if payment is due wtthin one year or less. If not, they are presented a5 non-current Ilabllille5. Trade creditors are recognised Initi￿lY al transaction price and subsequenfly measuTed al amortised cost using th8 9ffeclNe interest m&lhod. Dorèeognition of flnanclalliabllltles Finandal Ilabllilles are dere￿gnIs0d when the charlly's contradual obligations expire or ara discharged or can￿lled. 1.7 Employee benefits The ¢osl of any unused holiday enlTtlernenl is reeognlsed in the period in which Ihe employèg'5 S8rvice$ are recèlved. Temiinalion benefits are recognised immediately as an expense when the charity 1$ demonstrabty comrnitted to leTrninale the employmÈnl of an employeè or to provide terniinalion beneflts. 11

THE LOUIS BAYLIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 CTitical accounting estimates and judgèments In the ap￿icatIon of fhe charity's a¢¢ounling pollcies. the ItU3tees are required to makejudgemenls. eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sour¢es.' The @slimales and assooialed assumptions are based on hislori¢J expeiience and other frdclors that A￿ eonsidered lo be relevant. Actual results may dlffer from these esllmates. The eslimal8s and undeTlying assumption5 are reviewed on an ongoing basis. Rev7sions lo accounting estimates are recognised in the period in whSch the estimate Is revlseLI where the rewslon affect5 only that periDd, or in the period of the revision and future. periods where the revision affects both current and future period5. Income from investmgnts Unrestrictèd funds 2024 Income from Ilsted investments Intelesl ￿ceiVable 5.290 1,305 6,595 other income Unrestrlct•d Pernianent Expèndable funds èndowment endowm&nt 2024 2024 2024 Total 2024 TTansler from Louis Baylis (Maidenhead Advertiser) Ch8rltable Trust 555,776 4,022,177 6,547,244 11.125,197 12-

THE LOUIS BAYLIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR fHE YEAR ENDED 30 JUNE 2024 Expgnditurn on charrlable activitses Unreslri¢ted funds 2024 ExpendI￿re Sundry expenses Bank fees 53 ' Grantfunding of actlvities (see note 61 3,080 SharÈ of 5UPPDrt and govemanee Costs Iso9 nDts 71 Govemance 2,500 5,678 Analysis by fund Unrestricted funds 5,678 Grants payabl• Grants & donations 2024 Local charities 3,080 3,080 Govemance costs 2024 Accountancy fees 2,500 Trustees None of the trustees lor any persons oonngcled with them) rB￿Wed"anY remuneTation or benefits from the charity during fhe yèar. 13-

THE LOUIS BAYLIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Employees Thè averagè monthty numbér of employees durfng.tho year was.. 2024 Number Total , There wete no employees whose annual remuneration was more than £eo,tx)o. 10 Taxatlon The charity is exgmpl from taxallon on ils adivitigs because all Its Incorne'is applled for charitable purposes. 11 Fixèd asset Investments Llsted Other invo$tments investments Totsl Cost or valuation Al 22 June 2023 Additions 10.547.246 22.176 10,569,422 At 30 Jun8 2024 10.547.2é6 22,176 10,5fj9,422 Carrying amount AI 3CI June 2024 10,547,246 22.176 10.569.422 2024 Other Invesknenls comprise-. Notes Inv¢sbnents in sub5idiarie5 18 22,176 2024 Listèd investments included above.. Listed investments carrying amount 10.547,246 12 Credltor4: amounts falllng due within one ￿ar 2024 Accrua15 and deferr8d income 2,500 -14-

THE LOUIS BAYLIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 13 Expondable endowment Expendabl& &ndowmenl funds reprasenl assets whlch mu81 be held pem8n8nlly by the charTty. Incom arising on the endowment funds car? be used in accordance with the objects of the charity 8nd is included as nr851ricted income. Any capltal gains orlosses artsing Dn"Ihe as5els'fonll Part of.the fund.. At22 June 2023 Incoming resourees At 30 June 2024 Expendable en(Jowmenl 6,547244 6,547,244 14 ParmanentendowmoNt The permanent endowment funds of the charity comprlse Ihe unexpended balances of donallon8 and grants held on trust subject lo spacific conditions by donors as lo how they may be used. At22 June 2023 Incomlng resources At30 Junp 2024 Permanent endowment 4.022,177 4.022.177 15 Unrestrfeted funds The unre51ricted fund8 of the charity cornpri8e the unexpènded balances of donations and grants whifjh are not subjacl to Specific conditions by donoT5 and grantors as to how they may be used. These include designated funds which have been Sel aside out of unrastricted funds by the ITUStee5 for spedfi¢ purposes. At 22 Jung 2023 In¢oming Tesources Resour￿$ •xpended At30 June 2024 UnreslTicied funds 2,371 {5.678) 556.693 16 Analysis of not assets between funds Unrestrl¢ted Pernianent Expendable fund8 endowTnent endowment 2024 2024 2024 Totsl 2024 At 30 June 2024: Investrnents Current asselsloiabililiesl 4,022,177 6.547,244 10.569.422 556,692 55S.S93 556,693 4.022.177 6.547.244 11.126.114 15-

THE LOUIS BAYLIS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 30 JUNE 2024 17 R?lated party transactlons There were no disclosable related party Iransac15ons dudng the year {- none). 8 Sulisldloile3 Delalts of the charity's substdiarfès at 30 June 2024 ara as follows- Name of undertaking Registorod Nature of business lass of % Held shares held Direct Indirect Baylis Media Limited UK Publishing of newspapers OrdinarylPref 1DO.00 erence 19 Audit requirement These accounts have not begn audited as a sland￿One charlly accounts but the figures have been éudiled a5 part of the consolidation with Louis Baylis (Maidenhead Adv&rtiserl Charilablg Trust within the accounts prepared lo 30 June 2024. 16-

LOUISBAYLIS (ThIalDENIIKAD AJ)VERTISER) CRARrrABLE TRUST IIINANCIAL STATEMENTS FOR THE YEARENDED 30 June 2024 REGISTERED CHARITY NUMBER 210533

EL)UTSBAYLYS (KAIDENHEADADVERTISER)CHAAUTABLETRUST ANNUAL TRUSTEES RiPORT FOR YEAR EP4DED30TH JUPIE21F24 Thtt Boatd of Th5te¥ of th¢ Louig Bty]is (Ma￿enhead Advertisorl Chtititttble TnJ518lld th¢ Lout? Boylis Charit2bb Trust pR￿￿tth¢ 8[￿Ual for the PBriod ended 30 June 2024. tsEether wlth the audikd fjnallrial stRt¢Jll¢nts for thB yeHr, utkde the CP￿id¢sA¢¢2OZ2, ÉudA¢(¥)￿th￿ t￿dREp(￿rti￿g ty Charitie& St8tethofRe¢olluorlldEdPi&¢ti¢eapplicsblelockn8rftie3 ptcparing tbEir2E￿ULtS io ary0rd￿¢¢ the FItian￿al Rey)rthJg StEDdsrd llppJicgblE in the UK 4nd R£public of Tr¢1￿ effectlv¢January 2018 (Cbthti¢8 SOBP (FRSiW2j). Tr tsiJsteesOfthelA)uisBllyli$(Mllid￿1￿lldAdV¢rh$er) Ch￿itabl￿Tru5tU￿Oh￿YthC1d 0￿￿eSS￿cC I lts]y &TeA$ folto PJS•Trls Pwmwcolt MEsFALattlln¢r JRobertsoll MBE The tm5tee8oftheLO￿S Bayltscharstabk TDJstwbohav¢ knld Dfficesince 22JtJne2023 o￿LI£0110wk. PJ Sands Pwmutcott Irs PAL8ttkn JRobertwnMBE "M KTrepte TnL4*ee(ArwiDkd 2July 2024) The add￿5$fO[l￿r Ehatities IsPOBox 4832MRld¢nh￿￿ BerkshiT4 SL60 IIQ. Thevebstte2ddressi8 vmw.1oui5baylisln￿o￿.uk Theknis B&ylis(MaidcnbeadAdvertI￿) char[￿ble Tn￿tiSTeWttr¢d urtderthech#NtynwnbEr210533. ThelA)tsiy BEylrs tharitsbleTM¢ls￿gl5tlltto UDdertbe ¢lwlty nuDther 1203684 The IwsteeshaveJD4deth¥ foJLowillE profr59jon8lappoinbDw￿￿. Soli¢itor'. Cbqrle8Rus￿uspeeCbiysLLF. 5Fleetpta¢< Lortdot4 EC4M7RD DSAPr05Pe¢tAuditLimitr4FltstF]oor. l DesRo¢he5SquB￿￿i￿ttw￿.w1w. OX28 4BS NatWestBspkpI¢. 66 Ibgh Stre¢lm8idCnh￿1￿ SL6 IQA COJFChBritt¢sDep05irFun4 80 Cheapside.LolldowEf2V6DZ Ittve5tecWe81th and Investnjent [uK}Li￿itcd{N0wp￿rttrfRathbDnBsctOllpPIc1 30 Gtekn EQV 7QN QllilierChvivtLimit48S QuEen VitloriAStree4 Lon&)￿EC4A4A3 Our part time adm￿l5￿atDr. Mr RirhaTd Cuny. is respon51Th1e for the dBy-to4ay n￿nage￿¢Tht of thc thsts, Ef(iviLios. Mryth P￿t￿lIrte￿tisIb1lItyforthCAdrtUnIst[?tltsnQf8TH￿tapp1itatlOttpMceth￿¥&￿d￿rontd1ytr£b￿tiO￿￿ Ricbordfxnbt mnts¢ted viaemail on info@totsisbAylisttusLorg.d(. Grant appJi¢atlott fotms ate availthle vill0￿r￿ebsIredftdwE tyOtsEly r¢cgmuLend the￿e0fth•S¢fO1￿sL8thCFor￿￿OjtrlfOr￿￿pm￿tlo￿$tQ th TEU¥I. CerfllinT[￿Tr2sfflll¢Tht ￿SpOnSIbl11tlt5 3￿c￿[ried0uÈbY Crauf￿Td}IknLLP. charte￿dA¢¢Qumtallth,thC bU5￿￿Est0 wbioh th¢ knJsie4P w￿U￿Otr>pr0Vides ¢OnSLdranty 5eTvice8

LOiIIS BAYLIS(fvIAIDBNHKADADVEKTtSER) CHARITABLETRusr ANNUAL TRUSTEES REPORT FOR THEYEAX ENDET)30TH JUl+lK2024 STRUCYUR& GOVERNANCKAND MANAGFMCYI St8ts52mdifi$tory TheLouisBAylisiMaldenhelldAdVertiv)ChwitsbieTt￿srw￿geSthb]lshedbY &TrwsiDeeddgted31 M4r¢h 1962 and the prede¢¢wrlo thetAJlliS BayligCh8ritsb]2TTU$t. Th¢LouL5 BayltsChaTitsble Thjstwas e$tablish¥dby d¥d dated 22 Jtme 2023. In 1962 the propri¢torof th¢ m￿denh￿adAdvettistsr, Louis Bayli4 created the ChArilable Ttust whidt ¢Ojh￿￿¢S to beaFhis Dard¢. Th obariti¢s' ¢OJLllh¢ad Advertsser, Thc Sjough Expr¢5s ond Th¢ Wiuthor and E¢on Expr¢5s '2he Newspapers,. Cl4ll 2 of Ihe Trnst Deed dtrert% tbc trustecs to hold theb IrtVe5tmcnt in Biylis MethLimitsd (thtt'knrnp&nfl On1n￿t0 apply iiJcomeinpetpetiLityforsudLcharit8blepvryw)ses&thByshRiLfromtllneto tlÈlle. u]their&b5olu(edisrteiiofj4 selert. The compAny OA l°Mttth alld Jth March 2004 ftt PUBU¥Dc¢ofr¢s0t￿l[Qll5 d&tt4125 Othb¢r2QD5 ¥o¥de ¢apitst dong170nsto th¥ Ltsui5 Ilayli5 (fvlaidejthcad Advertiser) Charithbkrn￿L WE￿ subsequ¢llUy J¥8nsferTrd to the LoulsBayli Char&tsble T7V5L th¢Tcby broad¢Nng and suppl¢tneDttngth¢ Irustte5' POWSTS of admtnislrationofthc ￿￿tsoftheCb8TllIc5. Thc hwtee5 14vepowertyadmiDt8t¢rth#2(A)6donationsasaseparnteertduRrestri¢tcdfiJttd aLongsidetheoJktiiies' p¢rMattent¢ndom￿etsL The must Awly the In￿ and may suppJeJllert t￿1 by expettditig capiittl from the fvnd for tbc aknvc describEd ¢harlrAbbpuws¢s. Th¢ compRny io Decejnber 2DQ7 YDd J8DUBry 2008 ￿ pw5uary￿ of ￿801￿110￿ dated 13 Septerober 2007 m3do additional apitsj don8tion& OJJE donationwcutto thecstubI￿h￿etttOfapc￿aDe￿tendOThInelltf0￿df0rthB￿a[ityalldg2vetbeths1e2S the disctelionto accurnulatc ineoll￿. ARotherwellttoenlargetbeexpBDdgble elldoiYrnentfundestsblishedin2006, giwingthc Ir￿¢5 the diECtetion to ￿nvert(D InCQtnc. ThEse fullds We￿ also hcld forthe abDVC aescrtbed charilabJE pu￿Tr5e. Thes2 fiknds werE Oligi￿allY tcccived iu ￿ Louis BiyIisiMaideDhead Advertiser) Clwitsbk TnL%t tsnd SubS￿lleDtty tr￿feffed to the LouisBiyJis ClwitableTwJsL ots 30 Ju0 2022 th trsnsfetyed the newspaper business to Bayli% CornmuDity crc IT¢EiSWtd 14107804. This Efter weful coTrsideraEiOA of the JD&tt¢r by the directo￿ of the compATryp who considered that thc newspaper b￿InesS mon8ged by tbe compBny (yJuId be JLtsre cottvctiielltly m8wed 8nd O￿atrO by aCommuDty Inttt¢* CompaKLy. Theobje¢tsoftheCICotetoe8ryoDlletivitiegwhichbenefftthe¢0mma￿￿ty2ud1IIp&rtiOulhr(wjtb0UtIlmII0￿olLl ts benefjithe Lybmrnllnitiesof Maidenh￿. Sltrugl4 Eton aod Windsor andthe surrouttdiDg areas (the ¢0￿M￿Di1]eS) through th¢publiolion of PriDled 2nd i>the with i ]M)n-ry>iltiral stllltt Élld tslso otherllon-N>litical joJmdistic activiti¢s by inhrming, repFeseutin& cawaigning inierm841ing Ixbilf of the bein8 avotc¢ forthe iocaI community w expre5S v¥ew$ ¥ndto ¢ocourBgc acDhe5iV4 thIiv5Dg aThl wpportive cojllmtioityspuit Baylis Media Limikd whDlly owned irdding 5ubsidillry of the BayJi5 {Maide]the¥d AdVert￿er) Ckn8rii&bl¢ Tn)st {Xeeirfered Ch8rity Nmb¢r 210533) Ohe Yh&rity") 8Ad Is now a whojiy tsadiDg subsidi8ry ofth¢LDui% Bayl Ch￿1t￿￿Tr￿((R¢B1StetrdChHtyN￿￿1￿r 12036841. Thetru8icesofthecharitieg havettyJfumÈdtbcirsupport0fthetr4￿5rer tsfthcnewspapertoth¢CIC TrCbarityiSth¢$pccif￿d&ttt-Iothd body UEththe Artioles ofAssooiatiooofthe ac. In June 2024 th¢ £ssei$ fy¢dvltkts of th¢ Louis Baylk% IMaidEthead Athrtiscr) tharitsbk wete tttnsfDntd to tbt Louis BRylts ChÈFiiable TJWSL

LOVIS BAYLlS(MAIDENEIEAD ADVERTL8ER)CHARITABLETRUST ANNUAL TRiISTEES REPORT FOR THE ITAREF4DED 30TH JUF4E2024 0rgwni5￿l0Ual Stntcture overdll sttatsEi¢ dlr#tion of thE charities is deferm5fted by the InLq meet faymHlly atle￿ four timBS ttyogr to consider ¥ud fwth¢r dtvehp Ibe IrllSlS' objed1v￿ At these m¢etiti8s Érant app]i(titi]J5 aTC ￿ldered ￿)d 8run15 Dbuin¥ thc cws¢ ofthe atry peTioLthv truskes hove 4 numbEr of 4d hoc M￿ng910 Ly)ny1der￿DvY g￿taPp]lly11O￿S 8nd othErimp)rtqnt8thtllkÈstr4tiv¢ s￿)?8 whiehllerAtD be d￿￿tIvi￿. Thts knjstees do llot delesate theirauthority kn reg3rdtogr4ntd¢¢isiolls 0ndw￿￿a.1IY Collsider￿lthe subm.¥wns JJad¢ aad.. . D7the their dektmiThatioJJs a¢(a)rdthgly. Our p8n-time admipi5Nor deals vith i signlfic8nt portion ofthogrant 8pp11r￿iDn tevlew process. paffltyJlarly in r¢gwd to wuaiicr grant appJi¢ati0Tr5 which the trusiees do enwurJ8e. Ourwebsite gDd Ihe I￿an1 linjsto ￿le NrtVSPGperJhav¢ etFhancedourprofile in the RoyalBDrough of WiDd&or Maidenbe86 whlth is th¢ ￿E￿whiCh wc s¢oklo bmefitWÉthourdon￿titsns. 111el￿sEsarefDc￿%sed0lltheJa￿R.terJ￿Eo0lofsocI2jpr0sre￿athd are eomtnilted to rnaking a rtdi ditfettllrt to Ihe ftsrbjJ￿ and lives of the trjhabiiallts of thc ROY￿ BoroLEb of Windsor Ènd Maldethtsd. lll¢Jt¢d the tsusiB' objeGts extend bEyond th2 ROY￿ Borou8h 2ttd 8rauts and doLaEiODS to notionHI ¢harili&8are Ixnsidered. GraDts3remadetonioDHlandYegtODal ¢horihes, 2lthtwghappl1￿￿tsshOUIrf UDdB￿td￿d thRlilisshllthelrustets' politsy lompke R8realert￿portlollOr its grwJtmoLles avRilable to IDcai Ch￿itIeS￿L￿ or￿ls&E10￿$. Thetrthshaveno needkn sub.¢omtDj￿ BltbouEhthcwotkof oirpRtt-tim¢8dministiXtordoEsle¥4to slrcamlwtng tbBgnntapplicatiDllSpri)ttdDns a]ul. Indee￿ facilitatesease of aecB5s forapplicall l¥hthodolRetruitmon¢Appolnfme]Jt, EltctloE4 IryOw¢dovandTrxinit¥ofTru$leeJ Tr statutory EK)wer to apposnt n¢w &Jd additional tFus1tt5 cont8incd in the Tnjsiee Act 1925 applies to th¢ Louif Bty]i8 (Maidenhead Advertiser) (JwltrbleTtt￿r9lld is ¢x£ros&blc by theknjstees. ThestotutOTypou¢rto8psvMtn¢w&td8ddiltoncltwste45¢02LtsiD¢dlrtthe CoDstitutionappJies toth¥LollisBaylis ¢J4ritable Trugtand iseM¥¢iuble by Ihe ￿￿￿￿tel. Thegc£Te ntstnatiojj￿ ¢lwi(ies. they are notiDYtlved iEt fundrai￿ ￿dthe1tp[JmQQ￿eOtTrts Li thatofEr•lltmabn& Th dono¢ th¢r¢fwE, exien8ivc board oftrnstte ThelnLstc¢sw4aw￿eofthelrres￿1wb1)JIieSts￿dBrthech￿rttlesACt2Q22. Theyconfirnilhatth¢yhaYerefe￿eétothe￿JIdanet

ntsined illthe Chsrity coll￿]$510n'Srev￿dpUb]lc bellefttgwd84¢e wbetsrcvtePéillg thcttysts, PillL¥ obittttve$ and irL p]anrtit¥ fith aGtiviti8sand 8ettinE the8rant￿akin8p0j1¢yf0rthB ￿lOd. Wc wll keep under continuoys seviewthe qua5tion of re(Wil￿nI 8ppoinlrn¢nL election. induction 8nd trailllng ofknJstec5 andel￿Jrefhatwt truste¢5ke¢p up to dats in rwd tothe thaTh8ingworld of charity lawond adrniDi The Imis BayJi5 (MaidcDheadAdvctserl CbarilBb]E TDJs¥ EubsequElltly the Louis Baylis Ch￿itBbr& TrJs¢ has a wkolly owned tradimg subsid%Ary Baylis ￿￿71L]Ut11t4 Who￿ T¢5uIts are con501id8lcdin tbr fin8JLftal athiementsofthe twl. Theprin¢iptea¢tivity ofB8y]isModlaLtdtsptoJllno302022w&8that ofncw.%Pdperptoptietotsattdsub5eqll2Ddyapropcrty in￿St￿ent co]npkny. The in athlithn ID tho newspBpprs, wholly owRstWO S￿b$IdL8ry undettAking51 both ofwhi¢h Ere domw4 and apafticipetlng illtct¢5tin ThthnEsVolleyllldepBodenl McdrdLtd. The tw¢Trswbsidiirie5 It￿ Ihepartldpating iuIErest have traTr5femd to the CJC. With effert 30 2022 the n¢wspaperbu*ne&% traDStcrrcdto thE B￿115 Co]nrnunty Med5& Ctc. Th¢ irtrlle¢h￿l pmpcrty tlgbis trf thE new5P3PETS h&ve been iethitted by Bayus Medw Ltd othd ]ic¥utrd lu thB CIC Rlskand CorpDAtr CoverD8DceM8tttn As dvtsiied eaAsEr in the repDn th¢ newspapEr bU￿nESS been tywsr¥r￿d to the B&ylis Commonity CIC. Qtsr chairma Peters￿dS.1SarAe￿b¢rofth¢CxC. Tbusw¢ivill¢ontitinetohavcJ¢logere]atÉotishipandt05UPPDtttheirrlwltablea¢dvitk by wayof

U)UJSBAYLIS (MAmFNHXADAIIIqRTISER) cHARITABl￿TRUsT ANNUAL TRUSTEES REPORT FOR THE YEARKTr4DED30TH JUNE 2024 Rlgkand CoryDAteGoYernaDceM3llers (toulillLKd) oityg fon¥ardB¥ylts MediLimidH]lJ iTrwn tho BellStr¢¢tprop¢rti¢s ondthe iDtsltectualptopettyTSghlsofthe llewspgper. Tr￿te¢S P. J. SaDdsandP. W. mur￿l(￿getherWithM. R. Ttepte 2Yyly 2024. willcMtillUc￿ditQetot9ofBaY1is Me6iaLimited. Trusites'RespoDilbifjti¢5 ID th¢Prwr#tEvnolFln￿￿c[￿stst¢￿￿ts Thetnw¢es arettsp0j￿￿k forprepa.riogths TThL%fres' AnnllalBEPDrt.andfJJ8ryFip].stil¢wgntsikL4¢£ordoy￿..￿th ￿p[l¢&ble. . JawaDd Unit¢d King&)Jn A¢couLtll¥St•]dstd8iUhited KingdOmGe￿r￿UYA￿ept0d AccountingPA¢txc¢l The18w appIl￿bIe to ¢haririos iti EnOtnd and Wales Tequires th¢ tru5t¢¢s to PT¢para fin￿181 starttuent8 fDreach financial perid wljich givè 8 fgir vlgw of the 5thtE of affairs of th¢ ￿uP and ¢h8rities ULd ofthe in(tskning Tt50urces and applicatiott of iethrnof the¢b￿]IlEsr0rlhdpe[irt InpreP￿IngIhr￿erlll?nua] s(atek))ellty Tb6knJses LTeTequi￿d1O. (al 5¢1cct￿7tabIg I￿ountt￿￿p0jl¢ies￿Adthcn2pV1YthgM¢x)n￿lltIy. Ib) obyeryetham¢thods •Ddprillctples itLtheChllrilit$ SORF.. {¢) rDakejud8¢zllcDls zThd esti0￿teStbatdrerw￿sODabk aTrdprndeDI' (d) stRte whetb¢r wl1cabk8c¢ountll￿ siBttdttrd5 havc bcEn folltswrf subjertto aDy mllteriAldepathue5 disch5ed nd expjained ID tbe fJnots¢Sal sta (¢) pware the fiD2fteialsta¢e￿]￿ll￿0￿ Ih¢Boiug Mncembasi8wiles>lttsJJj¥pmpThatstt>p￿$V￿¢thÈIth¢ obaTity will ¢otsQLUC IN businEs The trustees 2Te responsible form¢iatwni]]8 proper ￿OuNting TecoTds which discios¢with Tep50MbJe BCCUTacy at aDy time the fjn5rlc￿ PDSition oFth¢ ETOUP aad ¢haritscs attd to enable th¢Jn ro eJLwre that th¢ finwial 5¢dtrtnents wroply the qlliteu)enly of the Fsnancial R¢porri￿$ Standard appllcable the UK glld R¢p￿b]I¢ of Ireland effectiv¢ l J4lluary 2019 (CharitiEs SORP (PRS102)) thew¢visiorts ofthe tr￿l￿deed. Thty ate 4JsD Tcspon5ible for s2feguardinE the &ssetsof the group gad thatities and hcncc fortski]e￿AtsjthbIC ste￿[orth¢ preyeDtiOJ 2nd dctectioll offrayd4lld other lltegttlsTiues. St&ttm¢thw tollsclosurtofllllforJugti0tr to thoAudilDr The truste¢s were in ollth¢ dal¢ of8pprov81 of thes# fJllau¢ial statrm¥Jts have confiurt¢d tbL #s lar as th¢y'ar¢ awox4 there is llo Telcvant atsdli fllfomLatioll Df which the a￿dItor 15 ￿l￿Wer¢. F4¢h ufthtttuslee¥ htve ty)nfmtd that tbEy .have taken au th¢ 51eps tbat th¢y ought have tuk¢n ts tr￿stee5 ￿ oider tts tb¢rns¢lv¢3 4WaT¢ of w relevant audit iJ*fonn8tioJ&nd ￿¢sto￿lIshthaIlthaSb¢¢h¢om￿UDICA[¢dtotbValldLIOr. Audl¢or 1b¢ avditor, l)SAPmspeGtAudit L]znil￿ ¢baTtettd CErtifj¢d 4ccowilaut$ bas iDdical¢d theii wllJww5 kn ¢tyLtsnu¢ in QWKCTJVKS ANDAcfJviTIF8 CharitsbleOblÈetivt5 Ttte LAuisBayJisiM2idettheodAdYertiW)Ch4ritsbleTn￿t¢baTittbIe obiectiveisset Outino￿T￿￿tDeed0r3A h£Èrch 1962: The ￿￿te￿¥shall&landyGs￿e5￿edofthE inLri)kndyp7n tr4s¢forihe opplkoltopt t>lthe therwlinpErpethityforsuch cknirablep¥pposes¢T$lh¢tru$rw$lwl1fromtityEiolimel#iheirabs￿rtt¢d1scrÈEl0fv7&elÉ¢l bMtduringth61ifelffhf ofthesettlor s¥bjeetlo hisd1sueliontyjdoppro￿1. Ojtrsettlordid in 1974. ThetA)utsBllylisCbAritable TnLStcbgritsbleobieotivt i&setoutiftourTThstDeedof12Jutte2023.. Ih80bie6tsoftheCIO¢ tofwiher5JichcharitsblepJwsesos ih¢ inut¢esslA711from iime.10 line ththe1rabsr1￿8 di5crFfiGty sElert

LOirySBAYLIS (MAIDENHEAD ADATRTKSER) CHARrrABLETRUST ANNUAL TRUSTEES REPORT FOR YKARBNDED 30TH JUNE2•24 Cb4rftabl¢ Activities Thsse¢tioorefers o￿lyt0 the ¢barIti￿ godfboiT8¢viti)c81 aDdttatioD31 ch3riti¢satthc I￿tI aslh¢pTrviouspBriod. Wee0￿¢￿A￿clOSupPOrt CitizEDSAdviLrEastB¢rkswith agrant totailiDg£25,000 P023=£II500alld £13.500 to Citi2eus Advice Burt2ts Maidenheadl. The twisBay]is (Mgidethod Adyertlser) CkndtableTnJst]Jas CDllliDuedtO 5UPPOrtregionpl ¢h4Dti¢i forexllmpje tsf £2,000{20￿.. £2,000) toTh8n￿5V￿JkYA1rAfflbvl8nec8ftdf6,oo0 (2023.. £5,000) tD ThanesH05PLC¢. Lwis Baylis (Maidenbead Advertiser) Ch8rltable Trnst has colltiL￿ our local mobity thity, Peopje to Pl&ce&wth¥8t¥rtt(>f£9,050 (2023:£17,125l￿dAkx&￿dcrLkVI￿£chlEa￿￿'aH0SplCes8M¢e£5.oQo (2023.. 55,OOD). OnAn8tionoJlevÈl theLolltsBaylls(MaTdenheadAdVertiser)CbatltableTn￿b8ScQntmUedlts5Up￿rtthtGrc￿totmo￿dStre￿t HospitalforChitdtEttwith&donatiDnofQOQO(2023:£LOQO)8nda£3,000121n3:4000I donatioDto T5[EetO￿l0ttC￿er. During the yeBr the Louis Bayliq (M2idenbead Adveriiser) Chorithblt madtt a gr￿ of £IOD,000 Qof.. £IQO.0001 to th¢ Baylis Cornllwnity MediR CIC to sopport them in the￿ d￿j1￿bLe aGtivitie8 with particular F¢fErtTKe ts) piDInoieritiaLthipEndcivicre5pnn￿blllityA￿dtOenCOuEage attdfacilitsleinfotmedparti¢ipatifffjLBndgng￿emeNby￿eUthers of the pJbli¢ yll the comtillLrrities ofN5Ètd2nherf Sbugl Eton asLd WiDJ5QT pud th¢ su[routtd￿S ￿2$ Itbe CttsJJmuttitie5) tbzOugbth¢publiraionofprind￿dOa1I￿eM3ts￿ll1Salld Dtt￿rjoMa175ts¢ #¢tivities for E¢nttfiiof tr CorDmtritie Tho newspoper provld¢5 th& trUthe5 with ¢xt¢nsive anrb￿1 report in its ¢lwritabl¢ 4th1￿¢$ wth porticu]ar refe￿￿￿￿ bow journalism SUPPOTts th¢ ¢huttabtepurpDse Df pmvidinga"publio benefrt, DwingthcCDUr￿fjfth#y¢8r9￿{2o23..9o%I ofLouisBaybs(MaidCJJhe4dAdvertiser}CbBritsbleTntstgrants￿ddDllation9 weretfj locBl¢hrttitic460hl2023:7%)torc8ionol¢hari1SEsÈll&4o/o(2023..3%)IooElioDalEknities.Ithasal￿xySbten1hCprtl1CY orth￿¢b￿ritleS1O PFonaTity sup5XtIoc21 ¢herttLesbu¢llotsvith5tondingthA4togiveKÈeo￿itl0ntothTh￿oyofre%l0nal and AplioThal chHhilie Indicators, Milt5tonu Benehm* The tNstee5 gre sattsfied with their grBnt-JnHk￿8 po]icy duritsg the pastyw. They have coveted awide Spre￿ of ohwities 8lldor8aDisalion3 oltho¥h st8nifi￿ntSno]KlarygranrS haycbeellTh￿l ktwlllb&geen froJnthes¢h¢dutesth6tthEyh4ve apuliuyofrnekingTh&ny small 8r8ntsttrlocal cb2TitsU¢&rtivitiek Although SMAII ]naE￿￿ttl. Ib&%e Etznts, in mzny irtst2Jt¢4 ptDvid¥ a vAtsI sttrnulus for the cjjarity ￿￿kets Involve& We ATC alsD cognisBnt of th¢ re￿ that all￿bOT ofiocal ch81itie8 knttye, in asen54 bc¢om¢ d¢pBndentllPDnthB grants

LOUISBAYLIS (MAIDENHEAD ADVERTtSER) CHARITABLETRUST AIYNUAL TRUSTEES REPORT FOR THE YEARENDED31rrH JUNE 2024 Indicatorsi Mll¢stsnessttd Bejthrkn l¢olltlllued} from ourthsts. Such d)ÈTitiesbav¢ to prowde u5 wIthr¢gu￿ aclivity Teports£Dd dethi15 ofthEir furdtlcial aCQJUDts. CTe is kcll lo en$llTB thttt previous grwjt moDies bE¢n gxp¢ntsd for good Ollr oh￿1t1¢S wfftll ¢OLtillu¢ their close relaii0tt8hip with theBaylisConJmunity CIQ wjjicb publishES ThEN£wsFoFer& ThetsUStr¢$2re ¢OnLmitt¢d lo¢rJsur2thBttl uoiquc r¢[RtirA￿hip CDntiDUC5. Wc wll ¢ontitiUC to work tlosely with The NeivJpop¢rswho provide tol￿p0￿e1)t8olIrtE of pubiicityTevrdiDgourlov4]gr4Dts¥n&thei￿￿￿￿thcYknvQi￿ the coJJuDvllity. IVethtysar¢ con8ciousofotrzEsrJDnsibsilts"'es utidertheÈqkthAct2olo. We aclxvcly rncovtllgB ￿plItationS for 8T8rtt8 from sectiots$ of the eoTamuttltic5 of Maidejjhtrf Wlndsor. Slou BUrnh￿ TwryfoTd and MBrlow. W¢ do 4ot lkn to sei bentknarks in TegsTd ty what prowriioll of our ￿LI monies are allocated to parti¢u]at Jxeds 8roups althou8h it j5 trne to w that th¥ blllkufour dollatiojs ￿ lor th¢ ben¢fJtof the ¢IdeTIy> YO￿1￿ and di5advanly ttiSllOtour8¢rKraJ pob¢y EornBke dO￿ationS to AlldividtsaLghowu¥erwoAthythvse applic&ntsntoy be. W¢ do llol ¢0ofiD¢ our ants to otb¢r teg15tE]Ed Bharities. Bacb appii¢aliotE 1$ ¢ottidered on Sts merits. Awlieations are geJ>eraIly d¢aIl with atthe ¥0 hRlf-yeaTly meBtillgydtbou8h thetrusle¢5 havc 6uringth¢ COWSB of th¢ p&stpeijDd ttletrd to the ¥eo&l Deeds of Joc41 charities alld m&deeltwll￿ gK%r&tsasLc¢ewry. TJKitnJsttt5 hav¢TcviEYKd thtw8rartt-ti￿knllg polioy SD light of thaEquaiity Act201Q Alld coDsiderth8t it Is ¢￿mPlIallt with the ACL lh¢ truste¢s we satbfjed that their poli¢y does not unlawfully disLTitrthMe wtwt 8ppliLSDt$ with prok¢t¢d ¢hwa(¥eristicsor llj any way rontrdvcnc Iheprovis¥Jnsof theEquabtyA¢t2010. Tr trusr¥cs aTeÉwareth3tthegrant-mthtsJg PCtli¢yencollr&ge8applicoti0tt3fromthtrRoyalBoiouEhofWlndsDraLdM?ideDh¢adbutwouidhighJightthttJknlthatth¢grdDt rnODieg are allDcattd to alls¢di0￿ tsf theeommunity aJd Ibateach8wt is CDnsidESEd ott its ]lleritf. R¢latiooshtppith Rdat¢d Trrlics Th¢knui5BaylislM?idenh£sdAdvertiscr)(%zritabkrnL£￿b5qlleJrttyth¢LoUI5E8yjI5ch￿IIab1cT￿QW￿5Htyjl$Iled1ll of thc1rnslcesoftEtLotsi8B&ylisChsritsble Tn25¢ P. J. Sand4P. W. MotLX)ttaDd R.Trep, ￿me￿L￿r$OfthBbOllrd0fthBcQ￿PI0y￿IthP.J.saOé5bciUB￿È]h)llP￿￿eC￿tiveChllirrna￿. BllylisMediaLimitcd ￿d￿anage5 theBell Streetpryknes. Thuy8]yo own th¢ ittrlleolyal p￿￿rtY￿1ghL¥Or TheN¢wspopers. Thc DThM£t5bipof Bdylis Medbq LiThited WAS tmsferyed fmm tb¢ Loui4 B&yli4 (MAideDhBEdAdyttrl ChaTitablt Trust to .thE Louis Bayjts Cb9ritsble TDJSr. ReprdeDt*tion of Oth¢rBDdl¢s We ￿e pr[￿arily local ¢harldes and aff ztot wrcsenfrd lin rEgional or kti(Trnal bodies. The Lvstr¢5 do not s¢eth8t agtheir AttiYlil¢s ind Ev¢nts We have had 8noth¢r5u¢¢eysfi]I p¢riod the troskesweffj pkA8¢d to be Bble to ￿￿tinu¢10 8raots glld doDatirw atA level of£326.610 ￿mparedt0￿22.395 forlhepreYitiusy￿rfj0jlltI￿L0U1SBaYljS (Mllid¢nheadAdvertisEr)Chbril8bloTwst RLd £3.080 rtom the t4>visB8ylis Ch￿1t￿b￿ TTrtsL As previously r¢ported tbe p351 PBriod has becn attother ¢xbEmely cballeaginE one for Ihé Newspapers. Th4re BDUtILuesfr) be A strong trend Df newspaper readers moving ottlin¢ ￿ well as ¥las8ifj¢d gdvertisets movts¥ dW&y fromprityt To comb these rhaoge5tlLep¢w5PllPErh&sh&dto ￿ake some si8nifi¢ani dI￿n￿l0 5t&ffJn& prujkng a￿lL￿th¢prOductsthcw1ycs￿nd cotLtinuDusly look3atDewopportunitie5to divcrsify. ThBtrllSteesateconfidentthtttthe uewspapers will eotttwc to tIDufish 2￿MMUnItyi0[¢ie5¢ ¢imJpsRy.

LOVIS BAYLIS(MAXDENHEAD ADVERTISER)CHARrrABLEiiiusr ANNUAL TRIJSTEES REPORT FOR THE YEAR KP4DED 30THJUN£ 2024 Fina￿￿[Results ofAdiYitrvsandEvtryts OurfinanoiaI ststsjllellts DUtlitieOuri￿L￿1￿etr￿¢xpendl1ay¢ (ex¢IttdtngtheroDltsofthFthylrLry). DllruiE thtt ￿riOd in qll¢￿n th¢ L•ui5 BiylNI (Moidthwd AdY¢rti58r) ch￿stab￿ T￿￿1.$ total TA5 £314,388 C2023= £287,957) with resour￿ expcnd¢d of £l1.563,449 {2￿.. £428,679) uJ¢SudiDg £1 1.125.197 transfffed to . thC￿)Ul$BaY11$aJ￿ltabIe Tn￿ti Gintandthnationsof£326.61012023.. ￿21595) wert Tr￿v¢ft￿lr￿Cti5tsOfth LouT5Bayli5 (Mal￿eDheadAdVert55Er) CbaritrdbleTnt#were £1 11.642 cojspuedto £106.084 for IhL' prtyiDDSyW. The fjjndsofthe Lout¥Btylts Ihf8idetheadAdverttser) (￿ar1￿￿1e Trnstmtte ￿ u]aestricled general ¢karity fvnd of £7,386 (2023.. £6422031. expelldable en¢lowmeTht of £480,699 (2D23.. £6.175J051 aud a pemanent ettdowrnent of £0 {2023: £4.022,177). During the period in quellion the Louis Baylis Ch8rstablo Tntst totsl itwmlng ￿￿UrceS iyeze £ll.131.794 in¢Suding £]1,125,197offt￿ts1ns(CllcdfrOrn ￿e1￿￿1$BlY1L%(MaidCnh¢2dAdVCrtISer) ChEritabl¢ThstwithowuTvxexpEndedof ,678.illcludinggrants0nddonatiOnsrnof￿.Q8￿. ThegDveThttnL%tostsoftheLolli5BByii5 CbgrÉbleTtii%twere£l598. ThefundOfthBt￿Ul5BV11￿eh￿ltsbIt Tn￿wSTe2nVnr¢￿tedgC￿e1￿IrbJriIYffMd9r£ss4695,dQ¢xPcndabI¢t￿dQWmt of£6.547244 apenJllucntendTrHrynertofbM.021177. The tr5tstee$ have EoL%idered ike period of At kHsrts¥elve ItlDLthsfrom the &te of apptovHI of the b3fance on mgkkng theirawssmerkL Dpitellrt£ertsiDtiessDtroundingthccwiDgvsJueofthEillvestsnentp)rtfolio andtbeexp¢ctcd itsve5tsnent iowm&that iiryll bo generntsd from thesc inv¢stwts goi0gl0rw4rd￿ the tTUs1￿ ar6 Conf￿￿ttI￿Ott￿6Y kav¢ Suffi¢i¢HtC￿h r¢seNe$lo tytet lièbilib&%asthry f811 due. The ch2rlt2ble activity o th¢ Louis Bayli5 (M8tdenhead Adverti￿) Charitable Trnst tr￿￿f¢Thcd to the Louis BtylL¥ Chwitabl¢ Trn CrAnt.Makng Wc havc atrcgdy mad8reftrenceiTJ detAi1knihegTolltsmodoandthe￿JDt-M¥kll￿p0JlCY0r th? tm5ts. ThetNstee$ r¢vknvthe granl-Tn2kknE poliry Annually tD e115ts1e kl TrDkFin$ JpproFtiait lo the strategi¢ d￿e¢ll0￿ of the ¢h'atilies alld sts obje(t5 und tlweby ad¥Dn¢e8pub]iG ixnefiL To this en￿tb¢ t￿S(c2s9￿￿￿5l￿Y r6viewlbeln]5tS'" Br4nt-mEkIDgwo￿]ur& RueryesPoliEy Th& Eti)UP ￿serVeS at thE PEfiDd Bmd wrre £14￿1625? (2023: £13.786.7151. Under tb% tern25 of t&E TnL DBgd and ConstitutiDTLthBtrt551EC5are fftgtruthdto slaftd poss¢s5ed of th¢ Th￿t￿￿d upon trustforthB Hpplitodottof irt¢o]n& Underlj teth]s of th¥ wital doa8ttons xe¢eiv¢d from B&yli5 M¢diiLimiltd 10 tkn IA)tsl$ BAylls (Matdejthead Alfvcrhserl ChaTit£ble TTus¢ 5tsbsequenty tr￿5f¢￿edtQ thcLiuis Bayjis Cb8Ti18bl¢ Tru$¢ thefmsttei elthermu5t or appIy in¢onr (wJleE the tnjstees exercise the￿ poweF to a¢cL)TDulllte inEoznel 2nd also have p)MEr to exF¢nd part orth8 capitsl &% illcoll￿ It Is th2 tnth$' Intgnfiollto dityibute 115 inrOW￿ lo￿1[Y natlonalty a5 uoonaspD55ibl¢. Th¢lrust¢e5aTfy howeYer,¢O&L8ciousihllt atsumber0f¢knAti¢s8rea￿U5(0mtd t0￿E￿lar8T#Itt# frotrlihe uh8tilie8 8nd, 8$ does.tbeT¢foR carry a CErt&in kv¢l or Eerv¢5tr*mgel theses ¢h4ritie¥' expecth

LOlJtSBAYLIS (MAn)ENHEADADVERTISER) cllAR￿ABLETRuST ANNUAL TRUSTEES BEPORT FOR THKYEARETrtDED30TH JU1ffj2024 The Trusts, prioop81 di5crettetMy fiuJdmanaEers thtthie to ￿ Jnvestec W¢8tthorydTnvestment(UK) Limif¢d IBoWP8rtof the Ilatbly)n¢s fjroup plcl and Qullt¢r Cheviot Litnited. Th¢sc investr￿nt fj]n(Ls have similu inYelJM¢Dt objreti￿ attit¥de risk aud perfannance The mider that as they hve sigllitkont fi]nds oudEr di%¢TetiUllAry maoBgcrnrnL the rLtynkng oflwo portfolN)s iupaAUelgive6 Ihem s ￿efUl0pp￿￿unI(Y fv ¢ompattiLvethentperfom)artce. The coreubjertiveWithillbothpDrtfoliOsl¥tbaJth¢cdr¢bJmlxi￿cll itiuhme Awj¢￿1ro1w1thMed1u￿d$￿ ￿￿EborI10n in ex¢ess of ten y¢ar& Th¢ sim ofthÈ purtfojios is ￿ build the (gpiiat ofthe ¢h81ity inorder to divetsify th£AsSetb￿w￿IS¢ stillprovidillgal¢vel ofincom¢¢osuppDrtch8titablepirpos¢$.Wehav£dElentJin"ed th2ttliepcrfonrian¢eofourportfoli0sov¢r' tbe1ollgte￿Sh￿ldba1yJe￿sured8￿aIIStcFIp1U$3￿￿a2￿0￿str￿tewh¢ther th¢tthtfolioha3beellm&intsinuoitst¢at.V31ts Wtt hayeottuuai ￿￿tingS IK)thscts of illvesimant thisotyto miew as￿ allo¢￿1￿ invesknert strategy• per£onlltsrLc£ Forth¢ y¢8rto 30 Juue 2024 the portfoli05 produr¢d ￿ IncoD of £307.859 LY>mptred tts £280.997 for tbB yEzr to 30 Julle 2023. ThE Investec Wealth and Lu￿¥buE1it (UK)Limitsd (nowp8rtof Rattthones Gtouppl¢l 8nd QusJterChcviotLI￿iIcdM￿nlged fundswith aW￿￿￿10n￿r£l1l636240Mtrelratt8￿ frDmtheLAbllisBayJis (MaidenbeadAdY¢tts¢r)ChoritgbleTD]stto LDUIS Haylis Chatitabl¢ TrusL Theluveskc Wealth tsveknc]rt (UK) Limittd {Th)wpJrtof RthollesGmup pl¢land (&th#CheviotLsniledrn2BHgEd Lds had a valu&ion of £IOJ47245 compared to oiigilld hisioyitai cost incu￿ed by the I￿Ul$ Baylis Imaidenbelld Adverti8eTI Ch£ritable Tr￿t. W¢DJ¢etZ48uIarlyro¢onsidcrth2suitabilttyoftheeh¥rAtobtetnL8ts' inveslwctsgndthemerits0f4livcTSt6￿tioll.1ttaddl1l0llto the sryveshnentp)rtfolio, as dI￿u$s¢dQbtrV4 the knJAe¢shDldtheeDtire 5b3￿c&pIt8lofBayjIsMcd1dLirQltr￿ Tknere arerisks hold￿￿ a slsuifi¢8nt weighting ill a Si￿ i]we51metsl for which the trustees have beenrewJTdEd by Si￿lfICantPaYMCnts over theycatsby way of8ift ai(L Itts a circurnstBn¢ttof charitable tru# blltour Tn]st Iked does not LX)nfer powerto s¢ll theseshdrt The%shHresinBgyllsMediiLknItedweretransfeTr￿fr0￿theLOWsB8YlIS£￿&ld￿h¢BdArtvertIset)Ch￿jI1bie Th￿ta theLoui5BaylisCharitabkTDJsI. HoKrveT.iYe are awrof ourreytsibilityto s¢cur¢th¢thlle5tbeLefitthatwocgn fmjll this hobjing. Durujg the pcrivd wc mat reBlllerty with thcb)std ofBaylb. MEdialirDiÉed t9 COL5ider lis p¥rForJ)Ydne& We areplee8gdtQT¢PDrttbÈt the bwd hs% neBOtisted ll£w orKT81ins le4w wlth thB Pdhi¢hwsU siEwfJ¢8nt]y It￿e￿$S reAtai iBcom& A5 5fLelltiDSLtd eadier ID the the llewsp4Kr bustness btcn transferre& to Baylis CoThJllutsty Media ac. Going forwgtd. BayJisMediaLitDStedwill ewtially b¢ 4pmperty QWJ￿# illvuijjeot￿rnp￿lly. ptANSFORFIrn PERIODS tr15ts intend to maintiin thgir ¢xi51u¥ policy of £t￿t distrhJtiOn5 gDdto tske aCGUUtttof the provisloDs Dfthe Equgjity Art2010. sspwiously rnentioned"intlu$ Oor tsvst$ will ¢ontitML¢ lo silPP(krt looBI eh8riUes durojgtht eD5wng ywbuL with AD rye ttb the need5 tf ￿slo￿al and nation81 o)Brities. Wewijl continueto dttvetop ouriLvrslmeDt pili¢ytr cnhancBthe inco2)K from ourinvestsnejjtportfobo. ThisTeptsrtW8S' . Proved bythetrusteeson.. attd w&%sign*l olllthlfoftke tntstesby. PJ Sands Chth8

LOUISBAYLIS(N£4IDKNHEAD ADVERTISER) CHAR￿ABLE TRUST Ir4DEPENDENT AUDITOR'S REPORT FOR TIiE YEAR ENDYD 30TH Juf4E 2024 OpinigD Wc have auditcd th¢ rti￿￿la7 5t¢meuts of th¢LtrJ2is BAylis (maldettht￿ Advethser ￿￿￿t￿ble TFU5t <the'¢batÉty') BDd its subs1di￿(the'EM￿p'}r0rtheYe2r ￿ded30j￿ne2O24w￿1Chmjllpri5gthe￿rOupSldt¢j￿e￿I0rf1RaRCl8l￿tLyl1iC4thCg[lluP and P8tentchBtity b8IaD¢tr shcBt& thB gTQllP fIDW St8t£mcnL Bnd notc5 tc the finalic￿l stalcmellts iDclwdinE RsllffjDW of 5ignific4llta¢cOunlingpDIiGiB&Thcfw￿Ja(Te￿rtlngf(aMtWDrkthatbas1￿¢nappII¢dI￿theirpreparaI10n i58pplicablelaw attd unItedKingdD￿AiC0Uu1In8stslldar(￿,1ll￿UdingF1iS 102"ThcFinHllci2lR¢portiDgStsnd8tdBppls¢abletTrtheUKRndRcpublio ofkn]aGd" (Ullitcd KingaDJD Gcnwatly Accep1￿ AccouDIiDg Practicel Jjt oMropthtthk the f￿￿¢1￿1511t¢￿¢nts. 81ve a true f8ir wew of th¢ Sta￿ of Ihe groups dwily's 4ff3ttS 48 at 2024 and oftheir iLCmiti8 resourcesalld appli¢atiottofte80ur¢Es for Ibeyearthen ende4. have beeo p¢opeily propard in ￿{#)[￿￿1thUllit¢d ￿ngdOm£{ene￿lIY A(teptslA¢covDti¢EP￿G1i¢C. 8￿d have bcenpxtp￿td ing£ttstdancewith the Trqutremeotsof th¢ CbarlU¢sAct2011 B&sk for Dpinion We bave been appoioled ￿ s￿ditOrSuLd¢r#v(Itill 144ofthe ChgritiesAct20114nd accordBnccwith wlatioti$ llLrydeunderwliDn E54 ofthHtA(L We conducted our audit ill a#ordan wifhJnt¢znlltional st¥llukn￿s0ll Audits#g (UK} USAS (ULQ) Bpplicthle law. Our responsibrlifi¢s W￿¢r thogtt stsDd8Tds are fvTlhcr d¢sBtib¢d in the Auditor's resp￿ibIlItIeS for the audit of the fin8ncial statemektssethionofourrepoJL w¢￿ Ithd¢p￿denttr[the8￿uP lludpent¢htylll ￿t￿tdance￿iththeCtbIr￿r¥4wr￿￿Vllts thBt8rer(levMttooutttuditottheftnandolstht¢m￿]￿t￿￿3ndudLry￿th￿ TrRC'sBlhieBIstsndRtdgndwchavcfotrilkd our otber ethiral rEspoosibilitks itl g¢wrthr* wÉlb these requiTeroents. We belleve thattbeauditeYid¥n¢¢ hay2 obtsincd is sufft¢iettt 8nd 8PPtowiate tDpmvidc ab￿15 forour opijio cwclusi0￿y Te12ttng to gDlng concern Weh&vo llothing tOTE5XFrt itl ￿5r£￿t0rthè followknB rnatter8 kr¢Lqtlonf¥ whtththBJSAs(tJK) J¢quÈre us ts wortkn you vknc the trustees ue of Ibe 80iJ3g coacern basis of a￿nn￿¥ ij) the preparatton of Ibe fm8ncl815tstrwKnts 15 not appmpriAt¢,' or the thstees hllve ntst disclusrjl in the fIn￿GI8[ stAtemellts #lly IdElltif￿d sD2frriRI un¢ertgillties thar rnay ¢ast sigLifi¢arti doubt abo￿ the Emop's or parent ¢haTiry'5 qbility to continue lo adopt the gving Co￿¢￿ basi5 of 4CcQUllti￿g forApertodof At least t¥Y¢Jw monthsfm the date wI￿ll thc ststernents ￿ aulborisc& foT issue. Other lThforJnation Th¢lru51ees are respD]2sible fordK otberithtJDatiull. The oth¢TinfOM￿tIots ¢ompYisesth¢ iDfomation inG]ud¢dillthotswstEe's aDnual reporl oth¢r thanthe ftnanaiB] statejnents 2nd OUT auditor's rq)ort the￿0Th. Ouropinion Dn th¢ fill￿¢18] stAt¢J)cnts doc5 NtcoyertheotheriTJfoTTllation ￿ wedo not express aLy foDn of a8suronc& m￿jus1Onth8reoll. In Gonne¢tlott our audit ofthe fjaall¢ial slatrrwll OUT re5PDns1￿lity i5kn read the othEr infozmatiou an4 ￿ doirts so. cotyiderivheth¢rth¥otherinfonnattonisrnRtsrially thWLSis￿twIththefs￿a￿1a1stBI¢l￿e￿ts,oTQUrkn0W1ejteObtslned inlhE autht or otherwise appoays to ￿ TLaterlalty miSSt4te(L U we identify 5ucb m8terial In￿￿$￿￿1cles or 8pw¢nl rn&trrial misstatern¢ll￿ Kare rEqttircd to detertnine whether there is amatthal Jnthl¢rnant inth¢ finBncial stststoettts oramat¢rial snlthlement of the othBr infoTmation. If. b￿d on the work we havc pcrformc4 ¢onc]ude that there k8 2 mthriai miS¥2t¢tt￿ttI ofthisotherinf0Tm￿Iot4WE9r¢lCqu1[Od toteportth0tf￿t. Wejjavenothillg torapDrtiuthisffgsr&

LOUISBAYLIS{MAIDENHEAD ADVERTISER)CHARiTABLETRusr DEPKNDINfAUDITOR'S RFPORT FOR THE YEAR£NIJED30ThJUNE2024 M2tter5 Oll which weHr¢,rrqMiThd to ￿port by ¢xcep(ir Webav¢nothiDgtorepbrtiDreBpEQtDfthèfolIowin8matterswh¢rthe(JarÈtiE5Aet2011￿4￿￿esUsl0itI￿fOYouj{JnOuT opinioo- th• information givellin the finiwiul 51atetncnts r¥ yntOD5iStÈntiti anyroatsial rCspBCtwiththèTrL￿e4, or Strfficient8¢COlltiOnKIecords have llotbEollkeptby the rAretst¢ba￿ty. or theparentcliarity fingncigl slRtullents ￿ Dot iD wemtLtwlth the a¢¢ountiog rerA)r&% alld retutL8 Dr wehave nul ￿ceIved￿lI thc illfo]JnthnaBdexFl2Jthtithts ￿￿q￿lIe forouraiidrt Re5POh5iblltltsof ttustees ThetEtsStees arerLspD￿9Ib1¢ forth¢ prepardlionofthefiTrthGi2lstateoJBntsthJdforb¢ingsthsfrdtbatth6y%lYeAtr￿0DdralrV1ew. awJforsuchint¢malcontrDl8sth¢trusieesdetern)tneisne¢Ksbwytoeoabl4thepzEpaTrtÈonoffmgth¢ialsttte[rKll1$th￿t¥refre&fmrn EaLEJialmiwatcts)enL W￿th2rdllr to frHwlorerror. Illpt4)inglhefjnBncia15Fat¢tncntsthefrfftsat¢wpollsibkfora&wiDgthOVoup'¥aDdP￿￿tcIjot[ty,$oblltytO conthlue goimgtollcem. disc1osll￿ Wiappll￿b11 MÈll]￿stel￿tcd togoillseoncernand usthglhe8oin8 con¢ern ba%i50f arcD¥ntllJ8 nIe￿ thetr15t¢¢'$citheritttsndloJiquidal¢thcgroUporFdTeDtch￿[ty orio¢eiL%eopeiation4orbAv¢nor¢Hli8tiG ¥]tetyatlve but ID do ga. Auditor's rtspon&ibilitie$ for tbe2udStof th¢ ffiuJJ¢lal$tst¢rD¢nts W¢ bave been Èppointed as auditor under section 144 of the Ch￿l￿t$ Act 2011 and report in a¢thNdatt¢4 with A¢t and re)ev8￿re￿￿l0riO￿MId¢ Orknv￿gCffCctth¢[C￿der. Our obiethives to ol>tsill le￿￿]sbIe asS[N￿ about whets tbe fiDancsal slAtements a% a whole from m?terla] i55tatem¢n¢whethtTdllebfraudoremr,oudioissuean&uditor'sreportthÈrit￿￿d￿5oVrOpt￿lo1KRt¥5Dnbl¢a55ll￿r¢E$ahigb level of tts5wgt￿ but is not aguarantsg Ibat on adit coodu¢kd in acc4)rdantt with ISA5 (iiKI wll always d¢t¢¢t4 Jnywria] tDisthtellwt ivhcn it¢xjst& Mi¥stateJllellts ¢9A arise from frkudoretrotalld 8t¢coTrsid£red matrriyl if, Indi￿aI}Y or the 8ggtEg4 they tovjd rna50ftably beexF£kd tOiDfluB]Kc theeGellon￿deCISI0n$ ofusystBk¢fttststhB blqisotthese fiDan¢ia] The extértty whichourproLEdutes hre capab]e of detem8 ￿Tee￿IsritI¢5, ifLcludin8 frÈu￿ isdetalkd beltyw. Oorapproach to identifying 2nd assessing Iherisks ofmaterial mi&s¢a¢em¢nt.iti resp¢¢tof inegtLlsrilie4 includiDgfrHudarJd Ron-coDsplignce with lows audt¢gullioT4 was a5 follows.. the cngg8emeMt pthierensutedthat the engwEnt te4tll collectivtrly hbd theapprop5ia wThttencA wabditlES 2nd skills to identify orrecogtLiscnDtL-compliatice witb appli(¥ble TegulatiOD$: we identif1edthe lawsdrid regulatsons appli2able to the TrusttbrnuÈh dtsGu5ÉiOll8 WithThistre59Jdi allugemeBt. 2Ldfromour comTrerci2t knowkdge llDdexpErieuoof th6publi5hifig.indu5ty,' we fo¢used oft specifw laws and regujatiulls which we wjjsidcred may have adirecttDHterial effc¢tOLthefJn8D¢i&I atetneutsor the opeAtions ofth# T￿sE irtdudi08tbeCompalliesACt2006.t￿Ét1OjJ Ic8islalion endda pmtcctioL, ￿17-brIb¥ryi¢￿pknyrnent. envirotllnentsj Itttcludingt W¥Eleetiiwl 8Ed El¢ctroni¢EqylpJJMt Jt¢y¢liY4(WEEE) liegul&tion$.2013) an&h￿l￿n￿d safety IÈEi4lation' w¢A¢sged thaexteJtof ¢omplwI￿ wlth tbe laws god teEuIBth)lls identificd 2knvetltrougb Eth¥.￿qUIrIeS0f m8D2geJDcntand inspEGtsll8 legg1 ￿￿¢S￿L￿Ence. Idendfjed law5th￿ regulatio￿￿e[c CgmTnurric4ted withitithc o¥diltremreguiarly 8lldth¢ team nD)elned at¢rtto stk5tBncps ofnoll-compI1￿e throughoutthe audll. A further destriplion of our respo5￿}nItieS for the audit of the firtgOCi41 8tatC4• is lo¢￿ed on th¢ li¢poiti]3g Council'5 website Ht httJr.I1￿¥W.￿¢.0rg.vk1aBdlt0ls￿gP0nsTrI ilitrs. This dcSLTiplion forkw p•1 of Dur Jditor's wort. io

LOiJISBAYLlSO￿AlDEPlHEADADvBRTISE￿)CHARrrABLE TRusr Ir4DEPENIJENfAtJDITOR'S RKPORT FOR7HE YEAH xf4DED 30TH JUNE 21n4 U5¢ uf ourftpDrt Thl$[ewrttsM￿e$0￿IY1Othet7jat1V51N￿eeS8sabodY)jna¢￿￿￿*wJ￿t7￿Ch#1itiesACtIol1o￿r¥ud{tW01kb￿sb¢ell undcrtaken sothatwemightsfate tothcch&riWs ttwtee5 Ihosc mattcoive llreTr4uiredtv slBIEtstrth¢m in an auditor's r¢purt dforncTOtherpwpo￿ Tothe fiJil#st￿telltpen￿llledbY laW,M￿do￿ot8etept0t08sll￿BrC5P0JJElb1llty1OanyoThe otherthan the charity and the ¢hirty'$ tnwos asabody. for0￿ra￿dit￿jr¥ forthis r¢prterfOrtheopIn￿[s wchav8 formed. Mt Jvhn M¢Hal¢ FCCA(SenlorStatuiDry Audilor) For &)dottixhdfoF. DSA Pr05pectAuditLtd rteTed Certtfi¢d Accoullla#ts St&tDtory Auditor FirstFtour L DesRDchB& Squ8r4 Witsn WAY Witnty OX28 4BE DSAProsp2etAvditLtdi8 e￿8￿)let0 ettL% 8uditsrintenDS of 5c¢tion 1212ofthc C0rLpthCsA￿2006.

LOUJSBAYLIS (MAIDENHEAD ADvEirrisER) CHARrrABLXTRUST CONSOLIDATED STATEMENT OFFINANCLILACTIVAI FOR THE YEAR ENDED 30TH JUNE2024 B•yfd 2U4 20E5 MAer 14Nlrd 314￿8 95 96JYI 417.361 287. 71,09D 359N7 3J4JEE 6)95 417261 257 71.090 ,017 I2￿05 05 438312 5.678 3.93Q 428,6 42{6 438252 5h79 41￿1. 42Jts79 22AOJ 1.414 a97J61 1¥6.9gn 1¥6.991) {123.trA) 917 JJ?27 829>41 {14•.72L} 131.712) 079A34) (511,052> 555.77S ¢10.614.144) 10,569.421 (634.916) 55&692 (9.716J83} ltsJ69.421 714AL4 59 I1￿￿13) Ill￿2￿23 £41302 1946,731 14,D39 12W7 13,883ts11 13M141 a15DJ¥ll•J•14 7316 556M 41V99 14J69A2L 14.6tA2S6 641302 11144.413 lj.Th.715 ThB ttAteme￿of Hcltvi￿s 2]so complieswith Ihe requiratDEnts forau ill¢om¢4od ￿￿ndit￿re accowtundarthe co￿pu]￿S A¢t2006. nte EtoTpkns no ￿g￿lS￿l galDS or otberthanthos¢deaiiwilh in the 5tatementof fmaR¢iaLactivilie5. 12

LOIJISBAYLIS(MAIDzf4HEAD ADVERTISER) CHARITABLE TRUST BALANCE SHEET FOR THEYEARXNDED 30TH JUNE2024 Gmup cr 2D24 2.993.122 10.ri,943 2.￿2,900 9.720.SQJ 9.7416ri 10569.411 13.S&S.065""' I￿53.405 - 1056ty.421 DEbtors'. dttevAthln¢ncyc C95hHt 104&52 611,486 96.397 570J55 608Jlg 18375 559.lYJ 617%2 716.138 2D.634 66695J 559.193 DucRrylhinon¢yrx io (44278) 160.Q05) 033411 04.651) LX)) NThCURRWASSKrs 13,014 65&133 7J85 642?02 NON CURRJYT ASSflS Debi¢)rd'.Juein aDEy 455.( 455.ODD 455.IIQD 455WQO E4Zr￿SE[S 14JQ4.079 13,764.531 488W4 lQ839,98 11.11fj114 fllj Bwcndjblrs 7.027,943 4.00￿1)00 3,W1O58 '6,175JOS 4￿￿.000 2946.731 4W699 IY5505 4.W4177 4547244 A1177 N¢n￿￿￿1)bl¢tnthDsfvknds 564m8 642J02 142,302 55603 14.594m9 13.764P8 10.839984 11.12fi114 The fU￿￿r￿sta¢¢rn*￿5 Dnpw l) ta30wllElpyro￿ by IhTrustw4nd wthiScdfori%iurozk... the￿b￿￿lfèy.' PJS3nds PWMu[￿¢ 13

LOUJSBAYLIS(MAIDENHKAD ADVERT%SEEfJ CHARITABLETRUST ACCOUD4TING POLICIES. FOR THEYEARENDED 3UTH JUNE 2024 ThE rw9nd￿sttethetsts bav¢ b2enprepaTedullderth¢ hisknI￿7 Cost￿n￿r￿tiO￿W1th item5Tcc0￿ed at COSE W)k5$0therwls8 51ated in th& thvaBttsotrls) to these 2tcouJits. Th¢ fJ)8m¢i81 srntemEllts have be¥n PTepsred Iti accord1￿WIthth￿StslElntht of Re¢oDJttsertded Practi¢c". Accountillg attd LREp0tt￿g by Chatities wepaTb¥ tb¢ir Rccounts irtaccordaD¢c with the ￿￿0￿¢1a1 Rtportill8 StaTh101d applic4ble in the UK alld Republic of ErtIa[￿ (FI￿ 102) ¢ff¢ctive I. J8LV 2015 SDd thEFlnDckn] ReportiDE Stsndgrdapplieabk iDthe Utiited KiJJgdom 8DO Repd>lk of Irel￿ (FRS 102) Ind the Charits&4A¢t2011. Ihe tNme5 hllve ￿nsIderedthe disclo5u￿ in the atc4)L￿￿tED￿ p)licira concernifj8the ¢bHrity'4 BdDpbotLofthe ch￿1110 SORP (FRSIQ2} inJuly?DL4. rath¢itbw applying the Lh8rlri¢g 2005 SOF￿ whicbbBs beBowithdrown but 15 ffiill Lefentdtrj inth¢extslltChAritie$lAecounts 8ndReporlS)RegulBiiiiDS2008.ThiydepsrnJrehasbe￿ I￿￿ary fotthe financiil 51atcnJ sbow a true and fgJr. view in a￿thce wiilL United XtThgdDm GeneMIty Aeupwd ACEoUuti￿ Pro￿1¢£ efftctive fix 'I¢COUllliuBp¢ri0(tsbe￿IjMl￿g0n0rthr l j￿08ry 2015. tsLt5tcotistihLttiapubliobenefitelltlty a8defin¢d by FRS 101 Tks ¢huity.8EW￿h￿e$E addr￿ ¥ lotAted atPO Bo¥4832MllidetheAdBerkshsr¢ SL60 IJQ ThoknJst¢es Co￿51d￿thatth¢r¢ no ujtttsrial utttÈtsiYLiies abDUtthE TN$t'i abllity fo cDtyiDUf Ua80inSt4)JI¢W fja8ncial slatements are pTrpa￿d in Sthrlittg which is thc fi)ocond qJttenBy of the eknity. Mon¢tsry amouDts ill thgse r￿arKIal stst¢metsts ¢muThded¢o theJteaTest£l. Going.CorLoer TkB Truslees have c4M]sidetedthc aT4)ropri&1¢5K&softhe EoingL¥>Dc¢rn&qwmptionJryprep￿1D￿ the r￿2￿C￿s￿teMC￿ts. Iu m8kingthptJ$5E$5ment Ibey c4)rJsidet¢dAFCtiod of12 montbs frotttthcdolcof Apwovalof the fiL5Do1￿ststeU￿Th￿ attivin8atthis L%8es8MeThL thE TnL%eghave ¢fjDsid¢F¢J the ¢8Iry￿g valu¢ofth¢ ￿V¢s￿￿n￿beId,t￿eIevcl of rEtutll O investmcnts expe¢l¢d tobogener¥ted goingfoThvards. andth¢ cullentfjDallcsoJ PD$¢ii(trD oftb¢trdllLgsubsIdi￿, includiDE the budgetsoLd forg(￿$ Ibey b&ve pry￿¢￿. B&%ed on thisreview. th¢ TJustce3 ronsiderth8tth¢ rbttity is vi¢wed as cothiuitig by￿￿s# torthe fottseeAble firtLtre. The 8tststt￿)tof Financial A¢tivities the B8laJJ¢e S]Jeet COD501ilth finaDci&lstat¢llMts oftheTrt￿1 and its wb5i(liary TmdertakiDg5 The Charity ba5tBkn) Édv2Ltageofth¢ (4)ncwio[Loffer￿ibY the Cbarityconjmissioonotw pre5Entasep8teSOFA forthe The stBtemetttof cashlows isptEpar¢d forth¢ r4ty50lidHted ac¢DUDts. Th¢ Cknity hagJtotprepar¢d a $tatemeAtof ch flows peThitt¢dbyFBS102 SgctiDn 7. IDwriie VDlutrdry including donationsAn& gifLs, atel£¢0￿E5edwhtT01herets¢nti￿￿TCCO]pt ts prob* 8TAlthc am(yAut n bB me&suJewith sJffiBieth JBI?4bility. Iacome frorn comrLetQ81 tradillE OP2fdtion4 ÈYisio# ftomthe th￿ity's subsidiary BaylisMdiaLimthed, rePr￿llts th¢ invoiced VAlut, n¢to¥valuE ￿5dedtsL arising from it5 Lwlttlemrekty 5eriES of rtewspapeTr pnd publicatio￿ fLfflypub]]shed in the&Ltounts]g PEIiDd and tbe invoiced value, ttetof value athled1￿ ofgood5 and seryitesptovided to WS¢oJneYsduriDg the a¢EuuntillgpBIiD InvestDJentiULX)mty is iecotsd OD areceivable basls. 14

LOULSBAYLTSIllAIDENHEADADVERTISER) CHARrrABLETRusr AccoiaNTJNG POLTCIES FOR THKYEARENDED 30TH JUF4E 2024 xwllditur¢ Uabillttes ar¢ttwgDi%d a5 ¢XFndTiur¢ 35 sDon u ther? isalcg31 ortOJLStnJcllveobli8atiou ¢Otmiliting Iht ¢huityto the exp¢nditVT¢. AllexpenditUTe is foton an accTrJats basis andhasbe¢n ¢kn55iffeduDdErheadinBsthat4gwEgth all c0stsrel￿d lo Ihp c8legory. Grgqt p&y]nents aod donarfolls are reo)Bttised whcn a tonstnXGtivc obliwion that results ui tbe payuwit bBSug an uoavoid8ble Cortimitm￿t. G0verlloJ￿t ¢ostsindu(ktb0￿ the gov¢rE￿￿e&bY theTTrLSleesofiheChgdty's 0sts4TrdsrepiimariJy ciatedwith ¢OLttitLrtiond8ndststthry reqniremBntsofopcratiog th¢¢h￿lty. MaDaB¢Mentgt￿athIlnistr￿tion costs2re ÉUoLted trj servitts ittptrjporfon iothe l¢velofe￿tr&1Te5OUrr￿5 lllilisEd. IDtarAgtble flxed a9set#oth¢r 8DodJvill ]ntsn&ible assets sre initiajly recO￿lS¢d at cost alld are sub5equentty mBBsuTed llt cost bs5 accLmulated 8tLortis&tioD 8nd a£Ewnuknted impallmentloss£%lntsngible4vts areamorti5ed ioprofitorIosyonas1Ai8bt-lifjcbJsisov¢rlheirDseful llv $foUv￿. Purch2seAlcornpuiersoftwate 20-33%Jtsaightliti¢ AllJuJts5atioLisrevi%¢d prospectiVBly for8ny si￿1fi#￿tht￿c invsefvl tifeoryesidud valu& On dispo981 the diffennc¢ bEtThvTrth¢Jotdisp(8lproLed% llodthe eo4ys08Bmountofthe1nl￿lbIeasset i8r<cognts¢d irlprofit T8M8lble Fixed As5¢ts Thts&iblefixed aq8ets aresi8led8t¢OStnet ordep￿lation0nd￿ provisionforiopaiYwent.DepTB￿at[oti i8provsdedon 8]1 t2tigiblc fjxed R5SCt& otherlh8n fvhold lan(L at tafes £aloulated to MryilB Dff the Tr)stor￿h ￿8¢1 10 Èts ¢stimthd iE5idu vRIueoll u 5trni8bt.line b¥sisoverits cxp2Ctedu5efvl lif4 follo￿ Freehold 256 stralghtlino k￿ld￿lI vAtue is tolJ2lRtedoL prlc45 p￿vaIl￿g 2tthe iepurting d*. Èlier est[ts￿e costs of dlsposaj, forthe L55et ￿ if it werc &tthe.aEt alld ¢ollditton exP￿d Itthe cTh] ofltsusefvl lif¢, ed Aq$etiDVWtm¢nts tntere51s in 5ttb5idaries 8re SJili8]ly rn¢asuErd at C05t and ￿bSEqUentiY I￿$u[ed at cost lesy and accumuJBtEd impairmcttt los￿. The iDvesfrnEnts asse￿ for ljnpaimient at Tcrrf)rtiDg d8fr Huy I￿p￿tMent 105sts or ffvw531s of impairmeryi10s5e5 atere¢ogni8edimmediatetyioptgt7torlo$5. Asllb51dlsry15FllBntity ¢onbolled byanothwentity. Contsol isth¢powwtogovernlha fir2DCiBIBlldOpe￿l￿BF9￿ci￿oftke enttty so &qtoobtsiuben2fjts from adivitie 15

LOUIS BAYUS(MAIDRNHKADADVERTISER)CAAIUTABLETRUST AccouTrfTll¥C POLICI FOR THEYEAR XNDED 30TH JUNE2024 Listed I￿v￿t￿£llts Tnvestsll¢D15 ar¢ a fonn of basic fjllan¢ial th$tsum¢DtY 2nd are Initsauy lE￿￿E[Sed &ttheiItr8DS￿ti(x1¥azu¢ ¥ffj&subs4uentiy ¢&SQte at th¢r fair v8h]e &8 at the bsJallL SI￿¢1 date Using the closing quod ma¥kd ptiig. Tr swemenl of fjll£nci81 ACtiYiti¢s iD¢lude$ the net gainy and Losses ariS￿E OD reyalualiow and. digN>sals througbout the year. The drts not AC4uire any put optiorlg, derivaliv¢s, or other eomplcx ￿0￿¢181 SDstrument5. Th¢ fonu of fjnallGial risk fa¢cd by the thority ts th8tofvolatiiity iu eqllity JEthts dueth wid¢r ¥contmicc0ndiuo￿ ¢he4ttityd#ofillvosEors to itivestn)entiiAlld hollges lnEeDtjr￿llt ￿nCe￿i￿ge4￿1na9 aBd witbinpkrtseu12rsectotsor sub s¢cto Jmpalrllrmts￿fThK¢a8fjS¢ts At each reportll￿ ¢lld dale, the tiadimg subsidiHry teviews tho ¢arryiDg gmounts of its tsDgIble and itkngThI lè &%sets to deTrrroinewhetbErltLe%e is 8uy iDdication1batthose 8s5etshave 5uffet¢d an illEwnoent105& tf 2nysudLindicwiollexlsts. the rEwvcrable #mountofthe ￿5¢1 is c5timated in orderb) det¢nnine the exteiitof thE I￿paI1]nC￿t￿ss (sf any). Wh￿e it is uot possibl¢toastirnatetbe recov¢rablcaTruuntof¥ttiodiVidu9tH85eLthtfOrnPaDy¢$ti￿ètesther¢COYeZknIe¥mo￿nt9rthBCth- 8¢Dw1tthguttlt￿ whi¢h the assetbejosw. Where aTruonablGand c4ThStrnt bt%ts of2Uocation bE idElltitle￿ ¢orpDJ&%S¢tsate 8]sts8lloLd tu illdividu￿ ¢￿- 8eLeT2tsDg wilt4 w othmiqsè they ofe allocated to th¢ tsmalicst 8TQUP of ¢&slFgenerapDg ullits forwhi¢h areasonablÈ 2nd consi5r¢otthEalion bfisis ¢aokidEllfjfie IDtsnEtb]e 8S5cts with LfiJllives ￿di￿n￿]￿le assets ftotyctEvailablcfotUS 2retccdforiuwent8nttuolIy. 4lld wheneverthBre is Ln ixdiG&tionthatthc bJsetDwy be imp2bed RcwveTable ￿￿Ount I5thBhi￿0f fairvajlle less ¢c4ts10 2nd v8lue YD assesslng the value in th¢ ¢stirnBIt ruutrt￿sh flow5 diswuntedto theirpnscDt yah￿ ystng a ptE-tsx discoulltY8te thDtTdk¢ts¢YUent￿aTkeI assessments oftbc tirnovahLe of mollay alldthe Fiskuswific ID the asser forivhichtbteslu)iate% tsf EL%h flow5 hLvt LDI b¢¢n' zdiu￿ed ]fthetwiYtrnble amountof8nisset(or wFL-g¢nEfdliKg IitsiT} Is estiitsated to b¢ thaD its tarrying amounL tbe Atho￿ntOe the L%5er(orc8sh-genBfdting unit) istrduLrd to itsttcov¢table a￿Ount An i]Dpoitmelli105sis recDgnised inD)£diBteJy illFrofftg unle&s therelevslltzssei iscatricd ￿ a [EValued￿0]m( itiwhlth ￿$¢the impairnentloss ts sted ￿ a￿Valuation decreas¢. Cash and c8tsh eq￿¥v￿rents .Cash2Thdeasb wuivBkELts knclud¢cth depDSLtf heldat All withb¥Jks Bttd olher 3hort.term liqwd Illves￿ets ThetradingsubsidiEryhfrs¢lectedtOApply thgwovisiollstsfSeerJonllSR5iCF5nats¢lalInstru￿eUtS, ofFR8102toollof ts 1108ncis1 ￿$t[￿￿en Fknanèial a5y¢ts . Ym8n¢ial 8S%t50re ¢Jas8ifrd inkkspeclfied c4teEoriBs. TheGlassifKatioD d¢pellds atsJpurp)ofthe finsocial 85%ts is dd¢nuiued atthe time tsfttogftitiOA. B&sie financ￿1 assety whicb I￿]￿de trade and other I￿%]vableS and and b&nk blllaDce4 tre iDiti&Uy M￿Ured at trans8￿10ftpSECC LDGludillgtt￿￿ti0ntOstscndaTesllbseqUenIjyc9rr1CdaIS]llO[I7s¢d wstusitythe¢ff¢ctivc intc]ulmethD k55 tkn 8rr8n8Èffjellt COll5titut¢s a financin8 tsartsa¢tio4 ￿there the is at the p￿Sent v4lue of fil L%ipts discounty] at awlrketrateof thtetesL 16

LOUIS HAYLIS(TrIAIDENHEAD ADVERTISEKJcHARrfABLETRugr ACCOUIYTING POLICIES FOR THEYEAR KNDED31ITh JUNE21>24 LDXDB recefvxbles TrthdEbt￿, loan5 oih¢rreceivables thathavr fixedor dEtumiLablepaynenrstbat erenotquoted inan artlve mgrketAre cl&4slfied &8'loans 8nd'rcccivables'. Loatk8 a[￿ receivables Aremeasured at8mortlstdrnstusingth¢ effcctiVE illterestnJEtho(L k55 any isnp&inncnt. Interest ts rewgnisd by appfyingtbccff￿I¥o inl¢test rat4 txcopt fovshort-ttrnir¢c¢ivabla.wh¢n theTE¢O￿lI1oll0t interest would b¢ itllTnaterisl. Th6 thcLÈve ]nt¢restm¢thod 15 am¢thod ofcalculating th9omOrt15cd rostof adebi irtsiwmeTht and of aJlocatiTr8the intercyt incomcover ther¢l¢vaJ)t period. The effertive intercsl ralc TS thcral¢ that exactly dis¢uutts e5tioMted fi]tttrec&sh receipts through the expected lifeofthe d¥bt7tsStrJrtto th¢ne¢¢arrylnE lthpjirment vf finan¢i41 ¥￿Ets Financi￿ ￿￿Ct4 otherth8Atl¥J5c held at fairvalllethM￿h pmfftand Ios5, area8scs8cd foTindI￿tOr5 of impAimentat each report￿8 end dato. rilluncl￿ tsw sre ImpaiteA wher¢ th¢￿ 13 objcGttY¢ eYideJw thAL Bs a result of one orrnor¢ eY¢rtts o¢owt¢d 8fttrthc ini￿al r￿o￿nItIOn ofthe fjnonoiHI ￿el th? e5timat¢d fututt LL8h flow5 have betn thth]. Thc hDpainll8nt Ip55 1¥Tec￿lISed inprofJtorlDS5. DerecogJLitton of ￿Sets fiTrdncial as5tts are onfy thB (¥)￿a￿ll￿ the floiY5 fyom tbe as2cttXPiT¢, orwheA It tt8nsfersthe financiat &%sct andsubstantially all the risks and rewards of owncrship to another ￿tity. wi￿1￿¥11 liabilitiv Baqio fuJHncial liabilitiC5 are initsa]ly t[￿redattrati￿dlOD prir6 unluy tknaTrang¢m¢ntg)ns¢itth afinJnGillg tra￿a¢ll0￿ whero thedebt InstFumcllt isrn￿urcd at IhcpIesent V81ueof the htt2rereceipts d2SCOUtttcd tt Tale of intere5L Thcy arc sub5cquentiy tn¢Nsured atamortised (x)slu5ingtht ¢Éf¢Gttve intetestrnetho(L Inter¢s¢ expellse 15 reCO￿lsed rnthe basis ofthe effttttV¢iUt¢￿t method wd 1$ in¢luded ]n SnL¢r¢rtpay3ble aodottrr similar charges. Derecognition of fiuallci¥l liabilitiE5 Finat)ci8J liabililics arc duC￿¥01Zed wheN and only thetrdding 5thidiary obliions ar¢ thschar ean%ll¢J or.th¢y ￿pire. Equlty Bqvity instrmrnts i8$u￿lbY the tsdinE subsidiary8rerccotduI 8tfftepmcasre¢civc& ngt of dEIrt sllucwsl& Divid¢nd8payableonequity irtrimett88tPre￿8nisWJ9￿l)abIl1ti¢sQ￿C￿t￿ry arenDlongerth¢di5q¢tionfrfthe tradin8 subsidiary. T¥￿thI The uKexp¢nsc rcpreseDtsthe sum of th¢CbrrenttaEc￿￿ ￿]d defettedtsx cxpcnsc. cu￿rtt￿X a55Ctsa recognisedwh¢rttsxpaid ¢xcccdstho tLpAyabl& Current anddeferred tax is ch8rgedtrcredited inprofitor 1055. exttptw￿n Et￿tateSttr ite4D$ ¢h8rBed orcredid to other cornprEhcnsivc ill¢om¢ or 4ulty, when tbe taxfijllows thetrdn8actionor event itr¢knt¢5 to a[￿ 15 abo¢h8wd or cr￿lted tootkcr CoMp￿v¢ or Eqllity. Current tax &8scts currtnttwt liabilitiES aThldthrrEdt&xa8aets and def¢￿e￿ liabiliti¢s areoffset, if 8nd only if, thcrc is alsga]ly ellforceable right to setoff thcamounts andthc etrtity intendselther to 3¢tt1e on anet bB51s orto IL8e the a55et atLdEdd¢thp JsBbiTity thwlfplleously. Cur￿1 b¥xd oll faxable profjtforthe yekr. Toxableprofjt dilyers from iotal eAJrnprehcnsive iucomc becau5¢ it cxdud¢5 It￿￿5 of Sttcome or weJ]ycth8t we t￿b]e0rdedUcti￿cIn￿therMjodS. Currftsx859ets Jnd knRbUities are measure using tax rate8 thath8ve beets*Ja¢ted or substantively ¢rAct¢dby th¢ i¢portingdat Deferred tsx is ca]culated atth¢ tax Tat¢5 th8t3re expethd kn 8pply to the period when the ￿5¢t i5 rz]ised, or the lithility is settFed b8sedonth¢tsx rates that hav6kth ¢n&ct&lorsubstsnlively enactedbytkTepDrtlr5g d 17

LOUtSBAYLIS (MAIDENHKAI)ADVERiISER)CHARITABLKTRUSf ACCOUNTING POLlaES FOR THEYEAR ENDKD 30THJtJNE2024 D¢far¢d t8x Ilabi1Sties aTerecogll25￿ in respectof all timTng differ¢nce5 thllt ¢xistat therepoÈtitLgdat¢. fiwing diffcrtnccs differ¢rrts betwten t&xabl¢ profits artdtytsl cowprehellsive ineotne th&t&is¢from the inclusion of iThcom¢ tnd expenses intaxasxss]nent8 in differentptrriod5 fr0mthelrreco￿itiOrt in th¢ finanEiat ststetnellt Defeffed tsx assets are recogllised only to th¢ ¥Xntthat Itis prob2bl¢th¢y wlll be recoveredby the r¢veisoJ of liabilitie5 or ¢)ther fi]tur¢ttxabl¢pfofits. The charity is wtiiled kn ¢hos¢ ¢xemptiOn5 uKt&￿tic￿ whith ￿¢ avatlabl¢ irl lawto thstxties. PrnvisiotJsar¢recwiSe&whetLtheMi5ale8￿brCtrTr%tr￿GtiV6prcs¢rtQbI1gatiOn&SJre$Ultof8paSt¢v￿¢ltJSPrtsb8bItth1t th¢obli8ationwiltbeTequiffdkn besettled aDdareJith16¢5tirnth c0Dbemadeofthearnoulltofthe0bii￿10￿. Thc amOuntr¢co￿lSed asaprovlsioni5thtbest¢st(mateofthcrA)Tr%ideratiottiequirdtos¢ttl¢ih¢preseJtoblrgationaÈ thereportth8 enddate.takingisrto xcount theriskg aoduncmnli¢350rrobudingtheobligatio Wher¢ th¢ ¢ff¢¢t of thetime val￿of is ￿zÈ¢￿I41. the8mount vKpcctwJ to b¢reqlliredtosddethe obligation 18 recogni5ed otpwcnt vatue. Whenaprovision 1$ M¢8suredp￿setlIVaiu￿the u[Lw￿dIng ofthedi5¢0Unt is recogDis￿ ￿ aknce cost ia profitor los￿ iti the period it arises. Employe be] Th¢c05ts ofslLOrt-terni tsmploy¢¢ beDBrits8r¢reco￿IS￿￿ aliabillty gAdan<%pe￿Y ￿1¢55 thasecossrtrequircd berecoguÉstd 8$ pan of tILe cox gf8iock L>r fixedtssets. Th¢ £ostof8ny Un￿¢&holid￿Y ¢ntitt¢met)tis recognistd inth¢ptsrlod in wbhchthe emptoye¢'s services arcrtccivr Tetmination iKnsfrts artrewEnised imtllcdiatrlyasarLexpensewhentlttradlrtEsubsldiary iBdtmon8rtably¢omrnitted to termivateth¥ellJploymtnt ofan esnploy¢¢ Dr ro pmvidc tennination br￿fi RetireDbÈDt b￿¢thIts For defmed c￿l￿￿￿tIon Èth￿es￿tt￿nounl ¢bargedtoprnfitorh)yJis th¢rOThtrlb￿ion5 pay8blejnthcy¢￿. Differerte8 betwecncontribution$payableinthcywaRd¢tsTrtrlbutionso2lua]typaidaTe5howu05eitheraccnllls¢r pr¢p&ym¢nt& L¢4s¢s Lc&w 8recl&ssified 85 finan¢¢ Iwes wheneverthe term50fthE l¢a5etrnthsub5talltiNlly &llth¢ tisksandrcw8Fds of trwnershipto th¢l￿gees. All olher l¢u¢s are cl&sgified opcrntinglwcs, Assets keld undsr financeleases are reco￿LIs¢d ￿ ass¢ts Bl thelowcr DfthBfjss¢ts f8irvsIue 8tthe datc of iti¢eptiou and th¢ pr¢5ent Wdlue oftheminirnwn lease plyjtJen￿ The roldt¢4 liabitity is includedinthe 5tst¢mrnt rjffinalloiat Position fintnc6 Iwe obligaliorL Ltgs¢ payments arctrc£t¢d os consistingof capitsl and in¢¢f¢SL elements. Th iut¢rest ts charg¢d to th¢ In￿￿¢$1atelneTrt so produ£eaconstarrtPEriodi¢ Tateaf intEr&on th¢r¢maiplog balanceofth¢liability. Renta]5p&yBblEuRderokwating l indudlDg any lease iN¢lltive$w#iv4 are¢h￿dI0 inL¥)m¢ on 4&ti8i8ht-linB b85isov¢rthe term ofthè rekvsntle&5e exceptwbexEanolhcr more sys[e[E￿I]C l>e51sismo￿ r£prewtrtivB of th$titDe pattemtn whicbecoDp]lli¢benefits the I¢￿￿￿Sel¥¢ cvJJsum¢d. Furld atc4un¢in¥ Gcrter81 areurff¢5tri¢l¢d funds whlch are availthle for.u5eatthe diserionof the tru51ru in fu[then￿o1tbE Bclleral obiertivtx of the tharity ulld￿1Chhavellotbecn designated for0th￿p￿posc5. ThePemMneDI ￿dD￿llent Fu]uJ rtPn5entslkn Orig￿al giftto the¢harity ofthgShsreGapitalofBayJis McdiaLunited Clhe ¢OWany￿2￿dsUb￿Uenttr&￿fetrQffima￿f(QMtbee(￿Illp4f￿Yd¢5iSnltsdlsSUCh.It[0OVl<k&r0rth2tsuste¢sts investlhecsp5tai sn ￿￿etsity, theirtu)m¢ frorn which iswhtrlty ￿ns￿L¢le(L ]Jo ExpBlldabIeEttdoWn￿t F￿dreprE￿Ltsti¥nSfEts of fxomthe knditiggubsidiery de5igTr*l ¥sucb. The tnthes b4V¢lb#p￿rlQ¢41rl¥¢rtthe capitsiiwo irywrne lltthcirdls¢rÉtknL 18

LOUISBAYLIS (MAtDEP4HEADADVERTJSER) CHARITABLE TRUST NOTES ON FJTIANCIAL STATEMEF4TS FOR THEY£ARENDED30TA JIJT4L2024 L ]TqVEsfMENfiNCOMK Toll Baylis 2024 2023 Fnnds Limlted B￿l￿t¢￿¥t 6,529 6,39J 13.124 6J60 6,960 Li¥t¢d pvrtfo]iD investmertt hLeoxLe lJ2sJkyftterEst 307.859 307,859 280,997 280.997 Rcntgj incorne 9&378 96,378 7L093 71,093 314388 0,595 9&378 417.363 287.957 71.IYJ3 359,050 2. cosrs OF GENERATING FUNDS TDl81 Toil 4yIIJ Media 2024 2011 ChArtty CIRrity Limit¢d staff￿ts1oote6) Othcrdir&teost8 761 761 41,655 (2301 41.655 49.074 49.W4 Oth¥0pe(atingin￿rrt D￿posal ofgssets toBCM ac (24941) 12A941) 41,425 41fv25 Tathn{Kote8) (J70 (374) 4.055 4,D55 41,051 41,051 26.860 19

LOUISBAYUS (MAIDENHEAI) ADVERTISER) CHAIUTABLE TRUST . NOTES ON FtNANCIAL STATKMENTS FOR THEVEARENDED 311TH JUNE 2024 Totsl Cbgrity . th%rAty Baylb 2024 MAcr IBMAcf IBCT GuvtrwL%¢VSts:. 31770 53yts 9,66D 15239 770 53.gll iiiéo 15,J37 51.866 601 A93D I4￿7 31. 5I6DI 693 14,687 Itty¢sirllellt Aud*oVsr¢murt¢rAtio OIILLT Eosty 98 111,641 2.598 .114240 10&O84 106.084 STAFFCOSTS Tblal 2024 Funth. TDt41 2023 nds Sknies 761 PvtsiollcDSts 761 Aver¥'llwnberofempknyees'. Works gnd pro¢essllJg Advutjsin Offzce 8tsdroHn¥￿rt￿t E)￿l￿n¢￿t5 iJf31aff overt50,000 ptx BnEUMn: £60.000- £7QOQD £70,001- £80,OQQ £8D,001-£9U.00 E9QOOI-£LOO.QOO 20

LOUISBAYLIS(MAIDENHKADADVERTISER) CBARTfABLETRv￿r NOTES ON FINANCL4L STATEM￿￿15 FOR THE YBARKNDXD 30TH JUNE2￿4 . GRANfs AND DONATIONS 2024 21r14 2023 2(123 N￿rnher NuytybBr Naticnai ¢b8rit2es Rewi￿1 ch8riLi&s and owlsaLlons .I￿r￿] thorftt&q'8nd Or￿[101i01ts". 11,500 13 20,500 12 Igl 'w• 297,ffj90 #¥•. 1.15..., 11.000 20,810 -.29LI.785 153 329,690 138 322J95 6. TAXATION 2024 2013 UK cotyor4tiotLt CutTtnty¢Jr {374) 4.055 D¢f¢rsedt4th Total taxcbarB 0741 4,055 7. YIXED ASSETS-GROiIP TnwstttLent Total Cost At 1st July 2Q23 Addltlons Recl&ssified as investment PTQP¢rti¢5 3.584,047 60223 3,584,047 60.223 At 30th June 2Q24 3,644,270 3.644,270 D¢pr¢dxtion ADdlnJp4irnhettt At 1st July 2023 Depr￿latiOn chaTBrd in theyear Rcclassified invdstmcnt propcrti 651.149 631,149 At 30th JutK2024 (651,149) (651.149) Carryimg gXlOUlIt Ar 30th June 2024 1993,122 2993.122 At 30tkJune2023 2.932.899 2932.899 iov£the]rtpmpBrty is owntyjby BaylisMediaLAd. I0theyeHrBaylt¥M¢doLtdtr￿1Si￿o1w￿toFRslos fromFasio4 therefo￿the pmpety rsiDBludeAinth&tknortclal Staren￿nts atCD5tless depre¢￿￿0[1 Bsoppod to tktrvzlu 21

LOULS BAYLIS(MAIDKNHKADADVERTISKR) CHARrfABLE TRU NOTES ON FINANCIAL STATELVIENTS FOR TH3YEARENDED30TH JIINK 2024 & INVESTMTNTS YACT 21IZ3 2D24 20 20 22.176 25.699 9.536,137 , IW• 184,369" 22.176 10,547.245 Listed nv¢simeuts atva(ua¢ioll beidby itivesirlleDt btokxr 10.572,944 9.5J6,137 -184J69 10.572S44 9.720506 25,699 9.741682 10569.421 li5*d invosth¢nts iepitsentfLxed iniu¢51rBtebond& Ill￿5￿￿1t atx] th)tttrusLS, freasury Stodt, a￿deq￿ltIeS. Tr folbwing Thw¢thc bDJdin850fmorBthari 20% ofthets#capit￿atIhg babn(% sTwetd&ts.' SubldiAries De$criptiOD and propDTLiott of 3hAre capRtsI b¢ld Country of itytorybrdtioll N¢ta55ets Baylis MediaLimitcd (Rent81 eompgw) £3,002.058 EnglaTrd #nd Wak5 ordi￿ary lOO% Thet¢w¥¢¢rtl officcs of the subidiary isN¢wspaperHous4 48 Bell S(ttetfvIoldth￿BWkSb1ye Sknfj IHX 9. DEBTOIiS Group ChArity-LBWT 2024 2023 Ch#rity-IBCT Dllcwithub oney&r. TT8de debtOT5 ' fvepaymtttts ￿daC¢￿ed ￿l￿orne Tsx8tion 6330 1259 374 7,712 96,941 96.397 8963 104.653 2259 9&397 ￿m￿rIbat1 Ducye8r: Oth¢rd¢tro 455.000 455.OOD 455.000 455,0(Xl Othcrdebtsrnduc year wrnprtse an illtetrsrfree loan gtslll to Nqaidellbead &ritsgeCentre tsf£455NOO. Io l91tLD¢LYJnbcr2O26 v4hiGhh8sbeell SC¢UT¢d on the propBrty tbe tentsroccupie>

LOUISBAYLISIMAIDET4HEADADVERTISER}CHARfTABLETRUST NOIES ON FINANCIAL STAT£MENTS FOR TUE YEARENDED 30TH JUNK 2024 10. CREDrroRS.. fllUiu% wllhkn oneyeaT Groop charity-￿cT 2024 20 Chatity-IBCT 2024 2023 2024 2023 Tr8dBLTedfto ot}￿t￿ a￿d30¢I￿lsecU￿,tX.. Othcrr%¢dito Awid5 36 34 23.795 33,4 13,248 24650 l5QO 44,￿8 60.IM>5 1524 24650 2500 Jl. ErffjowmBf￿ FUP4DS ThBpeMaDenteDdownent fi￿d tepstsellts.. theoTiginalgiftof£l.500sbBrt%of£l ttchllWypatdJrepTe5pntry IOO%oftheeqvityshsrt(xplt8lofBayli5 MediaLinut¢d C%be Eompawv. thc purchase ofthe non-¢4￿￿ty5}Eg[es in the ￿MpanY for £20,616. lotÈllinE £n,l76 a8itt of£4tnn forth6 Expr￿PU￿Or e5tsblishing H pwm8neDtendowment fortht Charlty TrExpEndab]oEndowincDtFundwt05eDtsth¢trHnsferoffiJlldsfrotnthecompwdESigDalEdbythetomponyasExTKndllblE BndovAllenL Thls ¢otnprpJllÉwof Ihex¢roaininB fixd &¥get investmets￿l$EdgAlJLB wjdtho tO&D to Maidenh￿ad HEril8g¢TnESt The nthE.clwitablotrathgf0nd8reptesgntsthe neta8setsvalu¢ ofthe ci)mpaNy. 12. ANALYSIS OF GROUP PIET Assrfs BYfwEEN Ifiip4DS Unres GenerBI Fund Charity doiyment Fond Bxylis Med12 LlmSted Tot41 2024 Fund5 Fxpendable Charxty Permgnent arity Fixed asset inve5tJn¢tLts Unrealised i￿V¢Stn￿t gain Dtbtors C&sh at bank and in hand CruJitoJs amounts duE oneye4r 4.880,038 1.692,905 455.000 4,022.177 1993.122 11.895,337 1,692.905 463.963 608,329 144278) 12)9 577,567 115.748) A704 30.762 128,53Ql 564.078 7.027,943 4.022.177 3,002.058 14.616,256 23

LOUISBAYLIS (MAIDENHEADADVERTISER) CHAIUTABLETRUSf NOTZS TO THE FINANCIAL sfA.TBMENTS FOR TUE ITARENDZD 30TH JUNE 2024 13. RELATED PARTYTRANSAcrioNs TheTh5MrP.J S2ll&s attdk4RP WMuTcoIt HJcnon.&y¢￿tsY¢dJrt¢￿sOrB&yb8med1aLi￿its￿ forMthi(IL tbay hiv¢rr%iYcd Jor¢L)￿er￿1%0ttdUI1llgthe pBrio Duringthc ￿rIOd thc cboTityte¢¢iv¢d professional servicÈs frollLCMIfj]rdHsla LLP. QwteRdknoutrtllLts. I bu8be$4 irlwhich the TntrMrP Wmureottis 2￿ng01&llt, In ￿Spe¢tOrIhc prov￿l0￿￿E accou￿ting wic Iillg £14350 TIuLYll8the petiodth¢ folll)wi￿..￿llts aLdawaTdsThtttmadE tothc following th8rilir5¥4d DJs4utsalioD5 5nwblththe . e5h&ve Lint¢5 I rPJSaDds £2.QOOPRnto Proje¢l £2501tDt4ry ClubMAideDheadThan¢s S¥nth'S Grotto Mr P Wmurwtt £9,050 F￿>ple10 (YESi8ncd B8&TDJslee October2015. nowapatronl £250Rotary Club MaidethadTh¥tQES S2ttta's Grotto PA LattIll￿r £I.000 LarChr￿dETA Mr JRolxrt¥o £IOOOmiidenbc3dUllite4kB￿f0rnCd Chvrch Ukr&ne PleHsfsntsts MrPJ S8nth alld Wmyrcottgte m¢Ytsbtts of thttkotsryclllb MHId¢L￿Traffl¢S. Th¢ ¢bYrityh8d￿1trSns8ffj1orts ￿￿EbitstrE0]￿g.S￿bSidISry Baybs btediaLtd. The ¢b8ritymadeapaymolltof£lOO,OOOta B&ylicoJw￿ity MdiaCIQ

LOUfS BAYLIS (MAIDKNHBADADVERTISER) CHAMnABLETRIIST NOTBSTO YJNANCIAL STATEMENTS FOR THE YEAREf4DED 31JTH JUNE2t124 14. PIUOR YEARCONSOLWATED ￿AT￿ME￿r8 OF FINANCIALAcfiviTJVS The consolidated StsksnentofFinan¢1￿ A¢tivits¢sonPggtr IJ sbuwsonJythetotaiwiorfiguTe& Belowozt thetotsls fortheyesr 202v￿. splltinfy) UDtt51ri¢ted enth)￿ellL Cknrity 2023. M¢dia Charlty Other activities.. Cot)MnercialtTading L7Pftatiotts Tnve5tsnents 287.957 71.090 359,0 287.957 7L090 359,047 OEhereypenditure'. Colljmercsal tradiELg operations 21805 Charilabb t¢tivit3: EynditYTeon thatitable o¢tivlties, 41￿79 Totsl reSOUTtts expended 424679 45L484 I￿5¢$yC#1￿s OD InTrT5tmeJLI as5Èts 186W4 {86J97) Net (fwnththrey lll£Dm¢ for tILeyesr IL40,7221 48285 {i.Y9,434) Gross trmf¢rs ftLudF 7W3WJ ￿8￿ NetmowmxttlD funth 559,665 (187383) 48285 079,433) Fund baJance5 at l July 2Q22 @7 lo,￿5.065 189&446 11966.148 rumd￿lAnCeS at30 June 2023 641302 iO,l97.682 U46.731 13,78fi715

tA)UISBAYLIS(MAIDENHEAD ADVERTISER)CHARITABLE TRUST ANALYSES OF CIL4RrrABLE DONAI'IONS YOR THEYKARENDED 3WfHJUNK2D24 Grant No. 2024 2023 NgÉlollAI ChJritles British Disabled WiogAsso The Britith FO￿e$ Fowldtttion Brifish Litnbkss Ex S¢rYi￿ne￿5 Assoc. Cancer Support UK CLIC S#tgent- Youth v Cancer Combat Stss DBBBA Dogs for Autism Great Onnond Street Hospital LiDns Sports Ac2demy HEART UK Cholesterol Charity. MotorNeurone Di8Vdse ￿soCIatIon RAF Bets¢volent FKmd Target OvariaD Cancer Th¢ BE1t￿￿ FoJfjBs Foundation WrtaIi8e 1.000 .500 5(K) 1,000 500 2,000 1,000 2.000 2,000 2.0( 1,000 2,000 3.0￿> 1,000 Totsl Ngttonal Charffities 11,500 11,000 Regional Charities Atxbeimers Dementia Support Berkshire Autistic Society Berkshire Care Trust Berksbire M S Th¢rapy CentTe Berkshire M8sonlG Ch￿lty B¢rkshire M&sons 2023 Fo5tival B¢rkshir¢ Masons Panto Project" Berkshire uni￿rn8 RFC Berkshire VEion Building forthe Futu 2,000 2,000 2.000 2,0(10 2,000 iooo 2,000 I,000 1.000 Cancer Support UK (BErk5hir¢} Child Autism .D8isy's Dream Doughs Bader Foundatio Headway Thames Valley Helen & Douglas House Thatues Hospioe Thames Valley Adventure P]aygroEU Thames Valley Ar Ambulance Thames Valley Hospice 310 500 1.000 500 2,000 0.000 1.000 2,000 5,000 I,o¢io 2.000 TfjtslR¢gi0oal Ch¥ritie5 13 20,500 26

LOUIS BAYLIS (MAIDENHWADVERTISER)CHARTTABLETRUST ANALYSIS OF CHARITABLE DONATJONS FOR THEYEARENDED 30TfrtJUNE2024 Loeal Charltles 1st BtTmham & Taplow Rangers 1st Clewer Brownies 1st Ci)DkhaTn Guides 22 CounSell￿g 911 Burtjbam Beeches Rotsry.Chth 6th Windsor BrownEs Absolutety Lei%ure Aduk DyslexH AGE concern Slough & Bethskre East Ag¢ Concern Wllrtsor Akxander Devll￿ Chlldrens Hctspice 500 545 L,000 1000 I￿00 2.000 1.000 5,OOCI 5tx) 2,51K) 5.000 A]zheimers Dementia Supwrt Ascot & Matdenh¢ad School Spor Partnership AutTsm Group Baby Bank Win&sor Baylts Cornm￿]ty Media CIC Beehive Presch￿1 Bislkun Nest Box Group Blue Acre Horse Rescue & Rchab Centre Boyne Hdl Crtcket C￿b Bray Vli L4ge Hall Br&y & HotytK>rt Scouts BrdywKk HeathNwsery (WAMU) Braywick Sports Assoc Braywoixl CotE First School Britvrfeu Youth & Conmiunity Project Bumhanmen's Shed Busy Butto￿ CORE Camp Mohawk Chattertots Chikl Atsm (fonnerly PEACH) Circug Stsrr Citiz£ng Advice Bureau East Berks. Clewer & L)edworth Cornmt]nity Events Clewer NonEcolesiastical S￿. Clewer Scout & Guide Group Cookhatn & MaidenheadArts Trail Cookham ChrIskn￿ Soc. Jubi]Ee St Paty Cookham Deancc Cookham Dean FC Cookbatn Festival Iwo 2275 I,coo iooo 500 500 500 750 500 3,0fy) (M) 1.000 1000 1,000 600 25,000 500 500 I,(x)o 750 750 250 (MI 5(M) 1,000 27

LOUISBAYLIS(MAIDRNHEADADVERTISER)CHARITABLETRUST ANALYSJS OF CIIARITABL.E D.ONATIONS FOR THKYKAR ENDXJ) 3BTHJUP4E2Q24 Cookbom FootpKyrt5 Cox Green CG2000 Cox Greell co￿Trunity SuTtuner Camp C￿ker Appvdl c￿k¢riaCk Chiklrens TnLqt Craft Coop CIC Cyckng Witbout Ag Dtasvn Explorer Scouts E&st Berks MS Society Electtic Ee14 Swilluning Club E]izabeth House, Cookham Eton Allotment Soc Eton Coll)munity ac Eton Town CouD¢iI Eton Wick First School Eton vr￿k Youth Club Famity Friends in W.indsoT & Whead FC Holyport Frietids of Cookbam Abbey (let Together Club HolypDrt Community Tn￿t Hotyport Cricket Club Holyport Darby & Joan Club Holyport MenoIial FC under I Is . Hur]Ey HaDI As50¢ Home Park Lawn Tennis Cknb HoF¢ io Deprcssion Kanc￿l-81 Foundation Kevin Cn]se Foundatio Larchf￿d Ladybirds LarohfiolPTA Leisure Focus T￿st LiDk Foundation Cknb Christmas SwiwaTrt1￿n Lion# Club of Windsor Mahar&strrdn M&idenhead MaTdwnhead Club for Vtsually Impa¥ed Maidejthead & Bray Cricket Club Maida]h¢ad Boys & Giris FCI Town FC Maidenhead & District Stroke Club Maid¢tthead AdvertiS¢E {School Trees Fund) Maidthead Amatfflw Swinulling Club Z25 400 290 1.000 5.000 750 1,700 500 1,000 720 500 1.000 1.000 1,000 1.000 580 2.000 1.000 800 800 250. 1.000 2,500 2,000 420 1.000 1500 4,500 2,000 995 4,000 2.000 2.000 E.000 1.000 i.(M)o 900. 1,000 71 28

LOUjSBAYLISO￿AlDENn￿A1) ADVERTISER)CISARITABLETRUST ANALYSIS OF CHARITABLE DONATIONS FOR THE YEAREP4DED 311TH JUNE 2(124 Maidenbead Bwndary Wa Maidenhead Choral S￿. MaidenhBad Cibzens Advice Bureau Maidethad Civic Soriety Maidenhead Cornm￿ty Book Festival Maidenhead Commimity Watch Assoc. Maidenhead COVID Garden Maidenhead DranR Festival Mablenhead Festival Maiderdrad Festival of Music & Dame Maidenhead Go￿J￿)i01S Maid¢nhead Hockey Club MapJerJh¢ad MacEdar Soc. SW Group Maidenhead Music Soc Maidenhead PostNatslHeW Group Maidcnhcad Rotaract Club Maidenbead Sea Cadets Maidenhead TaE(llwNewspaper Maidellhead Town FC Maijetihead Trefoll Gulld MaidenhBadUnited Refonn Chwch Ukraiae Maidenhead VotLmteer Bureau Maidenhead Waterways (Faroiiy Fun Day) Maidenhead Watetways Restoration Grow) MaT¥)r (teen School Mar]ow M￿e￿n Marlow United ch￿l(leS Men's MatteJ3 Meth(H]i%t Chu￿￿ High SL, Maidenhead Ild & Widsor Vision NordenFarnJ Centre for the Arts Number 22 Conllnty COU￿￿1￿ng S¢rvi¢¢ Pfttito Proj¢¢t Parentllig s￿¢1&1 Chlldren People to Places PhOell￿ GymnastiBs/ Tampojining Club P¥Jkw's Green Cricket Club Pinkneys Green FC Queen Anne Royal Fretr CofE Fxst Schwl Quire Voices RBWM ChTi8tmas Li￿rtS RBWM Ciinth Conrnurity (Repa￿ Café) 1.000 600 I,oor) 1.500 10(KJ 6,0(Kl 1,500 5.IK)O 450 2,(a)o i.￿0 iJoo 1.000 500 350 500 4.000 500 3.01)0 1000 I,OOD 9,050 1,5 I,ooo 17.125 i.000 1.000 1,000 6￿00 55(Kl 29

LOUISBAYLIS (MAIDENHEADADVERTISER) CRAIUTABLKTRUST ANALYSJS OF CUARIYABLE DONATIONS FOR THE YEARENDXD 30THJUNE2024 RBWM LtrAry RBIVM Mlhd TownPartneTsl4) PB WfvI Wind80r & Eion Liglts Re£harge R&R Relay for LiFe Ascot Rfverside CQuose]￿￿ Services 00 3.000 500 Rotsry Club of MaMl¢thead Bridge Bo￿dary.WallC R(rtary Chb of MaideJhead Thames MIMI ¢knTak Rotaract C]ub of Maidenhead Rotary Cbjb Maidenhead Thames . Santa's Grotto Rotsry Chth of Maidgthad Than￿$. Ukraitie Rotsry Easter Fu]2 Day Rotsry Prost8te Screeno]g ROY￿ Free Siigers Roy&l Wllthor Rose & Hort Scc Saivatioll Arnw samari￿ Slough Sequek Foundation ShakeS￿are As You Ltte It Shtr)llE Star PToo 3500 1.000 500 1,0 1,000 30

LOUISBAYLIS(MAIDENHEADADVERTISER) CHARrrABLKTRusr ANALYSIS OFCHARITABLY DONAI]ONS FOR THEYEARENDKD30TH JUNE 2D24 Te￿pk Golf C]ub Artisa Tke Brett Foundation The Cowshed ch￿*Y The Dash Charity Th¢ Dionysus Ewcmble The Jo]ty Codgers Lunch Clllb The Fouttdation The Livlllgs Trust Th¢ Old Court CIC Tjje Sport9 Colleetive CIC Twyford & Ruscombe COMM￿lty Theatre Group Tyyford Christiw Fayre Tvryford Together Ufton Court Educatioual Tn]st Voice5 Allon Wargrave FC Iwhite WaItlwJ Crick¢t C￿b White Waltham Wage Asso Wijd Cookham Windsor & M2idcDhead ComTnunty F4)rDm Witidsor & Mlhd Symphony Orchestra Wtndsor Bapti8t Church l Kitchen Wll050r Division Guide5 Windsor Festival Windsor Foodshzr¢ Windsor Homeks5 WindsoT HoJse RaD8crs Windsor In5tnrnent Battk Platinum Jubijee) WindsoT Litins (refijnd of unu5¢d 8rÈnt) Win(LsoT Netball Ch]b Wmdsor P￿Ish Church with All Salt Windsor si George Rotary Club Repar Cafr Woobtsm FestiV8] Ye1d￿ Christiqtt Centre 500 3,000 1.000 4.000 3.000 1.000 500 2,000 1.000 720 1.000 5QO 500 980 500 1.000 250 1,500 1,00 4,500 ,000 250 4,000 1,000 3,000 2,500 2.50Q 3,000 {I,000) 1.000 i.ooo 1,000 1,000 1000 I,QLN) Trtsl Lo¢al Cbsrftie5 131 297.690 290.785 Total All Ch¥rftle5 329,6911 322,595 3]