ST NAZAIRE RAID MEMORIAL TRUST AnnuaL Report and Unaudltad Fin8n¢i8lStstementsforthe period from Incorporntlon on 20 May 2024to31 March 2025. R•gl•tsr•d ChA￿ty numb•r St Nazair¢ Raid M8mori81 Trust 1$ 8 ch8ritsble incorporated org8ni88tlon ragistered wlth th Charity Commission in England and Wales under charw registration number 1208309. Tru•ts•• Keith Best TD MA (Chair) Nicholos Beattie Alchard Holm8n FCA Ann Mitchell Stephèn Pryd6 Dr D￿d Arnott Mal J8me8 WIl￿n-whItfj Jon8thon Rooke Appolnted 20.05.24 Appointed 20.05.24- Resigned 10.09.24 Appointed 20.05.24 Appointed 20.05.24 Appointed 20.05.24 Appolnted 06.11.24 Appolnted 06.03.25 Appolnted 08.0525 l•torod offlc• 20 High Street. Toft, Cambrld8e¥hlre C823 2RL Bankorn CAF 88nk. 25 Kings HillAv•nu8. Kiny HilL W8#t Malling. Ként ME19 4TA W•b•ft• s:Il¥tn0￿Irer&1d.o ST NAZAIRE RAID MEMORIAL TRLIST Annual Report and Unaudited Fingncial Statements forthe period from incorporation on 20 May 2024 to 31 March 2025. Contsnts Annual Report Chair's foreword Rèport of the trustees Indop•nd•nt •xamlnor* r•port Flnanclalotot•M•￿1 St8temont of financi81 activit189 BaL8nce sheet Not88 to the unaudited financial statem6ms 10 ST NAZAIRE KMORLIL TRUST 2024to31 March 2025. l am d8ilehted to lot tyJtthl8 Ilrst rn￿￿0n tjthlf d tI￿Tn￿*s(Atho St Nazalro Rdd Mam￿181T1￿l charitywasofficlotyfvrmed as an If￿￿￿x8tedC1Wlts1A0 0ry8nlz8tlcffiOCOI on Me 2024. The Tr￿￿e￿ immedately Set 8lJxrt the ￿ennI￿ and We￿ratIOn kn th8 d8818ft And constr￿til￿of 8 ￿MI￿rt•nt momfxlaltD aUthoJewhotcrf>kpgrt Inthe 1942 R81d. PlannlrY4 F￿1801<￿ wa8 wanted on 31" JaMry 2025 a￿1 c(XW8rt WO8 rn¢8lvod from the N8tlon#lM•miwlJlAftx>retum forthOm•m￿altQb•￿ on ItB 8it8etAiy•wo8.8t•ttor<￿lr￿ 8ut1ecttoth8tsm￿Ofa detsll8dafftmort.F￿M￿ISI￿We8tn[tlS￿d.{c￿a￿to1Th￿V1t￿lJ8a In May 2025theTrwtwa8 d81ithted to b8 o wl)8tsrt18i fm ts Herftsq8 Fu for thg e(kncationol of the woAecL Tho Trustw havo grjtlfied to 80 muth SUPPCrtt trom manySowce$irtl￿11ng donatlomln of thB ateelwork38rKI other comKM)nent part8. Pi8n8 aro ￿ In placo for of th• m•mOrlilthrou8hwobBI￿ dlqtt and other mearAof communlcotlcrn 88 ￿lI a•frYtho ed￿atIonal pha Th8 Trust h88 airnaty ral8ed the I￿1 oeedod4x tha mem¢xl8L K* contracts havo bg 5Aa¢ed and wc** on site stsrted in Sewernbei 2025. Keith 8estTD MA Cknlrof TnKqtee8 11 Octobar2025 • Opornlkn Cl•rfot Momorfai W (Ocfvv 18 18d ty Ihè * P&z*o R8hl I**n￿rfal Tnrt a charity ST NAZAIRE RAID MEMORIAL TRUST REPORTOFTHE TRUSTEES FOR THE PERIOD ENDED 31 MARCH 2025 Thetrustees presenttheirannual report andfinancial statements of tha ch8rityfortheyeBr ended 31 Mgrch ?025. Th8fingnci81 statements have been pr8par8d in 8ccord8nce with the accounting poIi¢i$s 8Otout in note 1 to the accounts ond ¢omplywtth th8char[￿S Memorandum and Artbcl8S of Association, the Ch8rities Act 20118nd Accountlng and Reporting by Ch8rities: Ststement of Recommended Practlce appilcable to charities preparingtheir accounts in accor(Jance with the Financial Reporting Standard 8ppIic8bl8 in the UK and Republic of Irei8nd published on 0110112019. Hl8tory The St Nazoire Socl6ty18 8n unincorporated 888OCiOtion ot Telatfves 8nd othar Intsrested person¥ of the "charSoteer8" the membeT¥ of 811 threa am8 of the fighilng ¥ervico5 who took p8rt in Operatlon Charlot, whlch h88 been de$crlbed 8$Yhe gr88tsst raid of 8Li". The raid wa¥ on the dry- dock and 888ociated f8¢11ities in German hands at St Natsiro on 28" March 1942, and it resulted in the award offive Victoria Cross68 and 8 tot81ot 140 decorations forgaLiantry. Evoryyear, on tho 8nniv8r88ry, th81818 8 commemoratlon at St Nazalre generously hosted by the cNic 8Uthoritios wtth the L8ylng of wre&th3, ¥P￿cheS. P8r8de and h08pitality. From the SocletyS discussion8 8m8nated the ido8 of a permanènt memorlal to the raid and on 20 May 2024 8 charitable incorporated ory8nls*lon. the St Naz81re Raid Momorl81 Trust. was reglstgrad wrn of the dwrivs Ilnancwl state￿ents carrled out under stttk>n 145 of the 2011 l£t, and In carrylbvd Out my examfinat￿, I ha￿ followed all the ap￿kable Olrertions 86ven by the Charlty Commtssion under sec￿ft 14515llb) of the 2011 ACL An lThJependent examSnatlon does Th)t InvokE8atherkng authe e¥kIen￿ that would be requlred In an audkand torwuenttydoe5 M>tco¥eraM the matters thatan audtrconskter5 In8fvlnB thelroplnlon on the flnanclal statementk Tr* plann￿ and cornlurtofan a￿lit80e5 bel￿nd the Hmlted )wrance that an SndepeThJent &Yamlnatbn un wovlde. c￿uenty, l express Th) ot¥nknn as to whether tt f5nan¢knl statements present a 'true falr and my report Is lknlted to thos• sptclfit matters set out In the Independent exam1￿￿$ state￿￿L INDEPENDENT EXAMINERS STATEMENr I have completed my eXamIna￿On. I conllmi that materfal matters have come to my attentlon, In conne¢tk)n wlth the Exambnatlon. g1¥5￿ me reasonable ¢Juse to beleve that in any mater5al respect accouniin8 ￿cord$were Mt kept In respect of the tharlty as requlred ty sectk*n 130 of the 2011 Act: or the finandal ststemerts do not xo)rd *lth those records," or the flnancial statementsdo notc0mpty￿t￿ applkable requlrnm•ntscont*ft￿￿the ft>rm and content of financlal statements set out In Charl￿5 lAc¢oW￿ and Reports) Regulatlons 2OJ8, other than any requlrement that the fina￿131 statements8r*e a'tn* and falrvw, whlch b rlot a matter consklered as part of an Independent examlnatlon. I have no concerns and have t(kn* •cross rw) other m•tt•rs In COM•rtbn wlth th• vAamlnatlon to whkh attention shoukl be drawn In thts rel￿rt In order to enab* a pmper ￿￿ThJIng of the fiftancial ststementsto be reachÈd. Sl8ne Name: Edul Avart B.Com. MMT Name of appllcable Ilsied boty. Assodètk>n of ACmuntI￿ Technldans Relevaftt prnfesslor411 quallfkatlon ormemberthlp of professbnal b¢**: ACcounth¥Ted￿5dan On behalf of E J Avarf & Co Ltd. 178TWord Road. Harn)w. Mkldlesex HA2 CSN Datéd: 14* O¢tober2025 ST NAZAIRE RAID MEMORIAL TRUST Ststome￿ otfln8n¢lala*Jtlvftle8 Forthe ￿riOdfrOm 20 M•y2024to 31 March 2025 Unrestrfcted fund• In¢omlng rogource• (Not• 3) Incomofrom: Donations and grants B8nk int8r88t Total 124.813 507 126.320 Re8ource# expond•d (Not• 4) Expendlture on: Raising funds CharSt8ble actmtles Governance Totsl 4,073 4.335 500 N•t mov•m•nt In fund• 118.412 R•¢on¢llladon ollund8.' Total funds brought forward Total fvnda carrf•d lon¥•rd at 31it March 2020 116,412 At31 Mwch 2025 Dgbtor8 {Note 61 Cash at tw*8nd In Mnd Tot•1 euffent8ss•ts 12.202 104.992 117.194 Cr•dltor•: •nounts fthith•*•thkn on•>ww INots 7) rot•ln•t•M•e• 11￿412 Fund• otth•Ch¥lty UnrMtrl¢>l•d fund• 116A12 114412 The ftnanel81 st8t•montsw•rn apw￿•dtytho boord 0fts￿ta0• ar￿Aut￿•￿I86d for i88U8 on l&. O¢tobof 2025 si•ied on ithalf of aL1th81n￿888 ty: Keith 8gSt (Chairl Richard HfAman ITrna8ww) ST NAZAIRE RAID MEMORIAL TRUST NO￿ toth• UnaudIt￿ flnanclal 81atam•nts Forthe perlod from 20 May2024to 31 March 2025 Note 1 Basls of preparatlon 1.1 Bas1¥ ol a¢countlng These accounts hove been prepaied und6r the historical cost convention wtth items recognised at cost or tran8a¢tion ¥aluo unless otherwise stated in the rel8V8nt notelsl to these accounts. The accounts havo been prepared in 8¢cordan¢evthh: the Statement of Recommended Pr8Ctice: Accountlng and Reporting by Chorrties prep8ring their accounts in aecordance viith th8 Fingncial Reporting Standard applicablg in the UK and Republlc of Ire18nd IFRS 1021 issued on 16 July 2014: and wlth the Fingncial Roportlng Stsndard appucabie In the Unlt8d Kingdom and Republi¢ of IreL8nd IFRS 1021 and with the Charities Act 2011. Th8 charlty constltutes 8 publlc bonefh ontlty as d8fin8d by FRS 102. 1.20olng¢ono•rn The charity relies on gr8nt and donation income to meei Its exp8n888. We have two PTim8ry oble¢tive$: to cre8tg 8 permangnt mgmorial tt) the raid on St Nozalre in March 1942 8t the National MemorlolArboretum. to provide 8 pfogTamme of Inforrn8tion and education bagad on tho rakl for 8 minimum of five years. At the timo of preporation of the88 fln8ncS8l 8t8tement8 the tru8t888 V￿re ¢onfldent th8t tha funds rgisgd for the building of the memorialwould be 8uffici8nt to cover the full e03t of the project. barring $i8nifi¢ant unfore$een Snags. In May 2025 Ihe Trust receNed the flrst 5096 tr8n¢he of • grant from The N8tion81 Lottery Herit8ge Fund which covers 9796 of the budgetèd Cost$ of thg information 8nd gducation progr8mme, which s18rted in June 2025 and 1$ funded for three years. Thetrustees do nottake on financ181 commitments untiithey are satlsfied that the charity has sufficient funding in place to meet the relevant costs. The truste88 are thereforo $8tSsfied that rt 1$ 8ppropri8tO to proparo the accounts on a golng eoncein basis. 1.3 Accounllng pollcy The accounts present a true and fair view and tho accounting pokncia8 adopted are th08a outlined in thi$ noto 1. 1.4 Dofinitlon otlundg Unrn$trl¢tod lund$ arg avaliaOLe for any purpose conslstent wtth the Object￿08 of the charity. R•strlcted fund¥ are subject to limitation5 set by donors on the purposes for which they can bo 8ppli¢d. Th¢ Trust feceived no restricted funds in the 8ccounting p8riod. The gr9nt foi th8 information end education progr8mme. received in the current year, is being treated a3 restricted. 10 ST NAZAIRE IiAID MEMORIAL TRusr Noie8 to th• un•udlted fin•n¢lal ¥Qatements l¢ontd) Forthe p•riod from 20 May2024to 31 March 2025 Not•2 2.1 INCOME Accountlng poU¢l•• The rt)llO￿ng&ccOunrlngp0IlcIa$ have been 8ppli6dbythe ch8rlty.' R•¢ognltlo ol Income 18 included in ihe Statementof Fin•nci8lActivities ISOFAI when: Incomo the ch8rlty becomes antfti6d to the resources; it 18 more likely then not thatthe trustees will receive the resources: and the mon8taryvalue c8n be measured wtth sufficient retsability. Off8ettln4 There h88 been no offsetting of 8SS8ts and Ilabilitle5, or income and exp8nses. unle$$ required or pemiitted by the FRS 102 SORP or FRS 102. Gr•nt• donatlon• and Grant$ and donatlon8 are only Included in the SoFAwhen the 88neTal Income reco8nltlon criteria are met15.10to 5.12 FRS102 SORPI. Tax r•ct•lm• on Grft Aid receN8bla 18 in¢Luded In Income whén thoro18 8v8lld d8cL8r8tlon from donallon• and thé donor. Any Gift Ald amount recovered on 8 don8tlon is considered to be glft• part of that 8rft and Is tre8ted 88 8n addr(lon to the same fund 83 the initial don8tion unless ihe donor or the terms of the appeal have specifigd otheTrvise. Thls 18 only included in the SOFA once the charty ha$ Pfovidod the re18t8d goods or 8eryice8 or metth8 pèrformance reL8ted conditions. Donated g￿03 8re measured at tair value (the amount foi which the 8388t could be ex¢han8edl unte88 impract5¢81to do so. Goods don8tsd for on-going use byth8 chartty8re rgcognised 88 tangible fixed assets and included in the SOFA as incomin8 r8source8 when rec8iv8ble. Conlraetual Ineom• Don•l•d ￿0d• Gifts In klnd for use by the ch8rty 8re included in the SOFA 88 income from donations when feceNable. Vo(unt•er help Thevalue of any voluntsry help received is not included in the accounis but is described in the tru8tees' 8nnu81 report. Donated gervlces Donated services ond t8cilities are included in the SoFAwhen received. at the and faolUtIo¥ value of the gift to the chaTity. provided the value of the glft ¢8n be measured reliably. Donated services and facilrties that are consumed immedlateiy are recogniséd 8$ income 8n equNaient #mount recognised as an exp8ns8 undertht appropriate heading in the SOFA. ST NAZAIRE RAID MEMORIAL TRUST Not•sto th• unaudft•d Iln•ncl•i Ststements (eontd) Forthe p•rlod from 20 M¥y2024to 31 M•rch 2025 2.2 EXPENDrruRE AND UABILrriES Llabiilty recognltlon gbiiltl88 ore rècognised where it is moro iik8Lyth8n notthatthere 1$ 8 legal or constwctive obllgation ¢ommittingthe chanty to pay out re80urces and the amount otthe obiigarion can be measured with reasonable certainty. Govemance costs comprige au ¢0gts involving pubuc accountability of the charity 8nd rts compiion¢e with regul8tion and good pr8Ctlce. Support costs include centrolfunctlon$ and. whon Incurred. are allocated to a￿1vty Cost categories on a basis consistent with the use of resources, 6.8. 81Loc8tlng stsff costs by the time Spent ond other ¢08t8 bytheir usoge. for A li8bility Is measured on recognition at it8 historical cost 8nd thèn subsequentty measured at the best estimate of the amount requlred to 8ettle the obligation atthe reporting d8te 888le Ilnanelal The charity accounts tor basic flnancial instruments on Initial recognition In•trum•nts as per par8graph 10.7 FRS102 SORP. Subsoquent me88uroment is 88 per pafagT8phs 11.17 to 11.19, FRS102 SORP. Govorn•nc• co$t• Support oo*ts Provlslon• 1SablUtIo¥ 2.3 ASSErs Tanglbi• fix•d Flxed 0$88t8 8re c8Pitakns8d rfthoy can bg u98d tor more than one year and •8Mts for u•0 by cost 8t Le8$t £1.000. charlty The Charity had no fLxe(18¥¥ets durlngthe roportlng perlod. Debtors Ilncludlng trade debtors) 8re me89ured on Init181 recognitlon at 89ttlement amount after any trade discounts or èmourrt 8dv8n¢ad by th¢ charlty. Subsequently• they ar¢ m8a8ured ot tho cash or other consideration oxpected to be received. D•btor• 12 ST NAZAIRE RAID MEMOIIIAL TRUST Not•* toth• tsnaudit•d Ilnanclal #tstomonts {contd) Forthe porlod from 20 May 2024to 31 March 2025 Noto 3 Anal￿18 ot Income Donatlon* and grants: logaolm t)onation8 and glfts GiftAd Grant8 provtdod byother charfties 102.611 12.202 10.000 124,813 507 Bank Intsr••t TOTAL INCOME 123,320 Noto 4 Anoly¥l¥ of expendlturo Fund r8ising Siie piannlng and preparatlon Insurance Govem8n¢o IA¢counts examlnation) B8nk charggs Mi$eellan8ou$ TOTAL EXPENDITURE 4.073 3.709 369 500 217 8.908 Not• 5 Employ• The Trust had no employee$ at 8nytime durlngthe a¢¢ounting period. Not• 8 D•btor• Gift Aid tax rece￿able 12,002 Total D•btor• 12,002 Nat• 7 Cr8dltor• and ae¢rual• Amount•t•llln8 du• wlthln •n• y•ar Trade Creditor8 282 Accrued expenses TotaiCredStors and a¢cNals 500 782 Noto 8 Evpnts afterthe end otth¢ r•portlng poriod Since the end of the reporting period the Trust h88 received the firsttr8nche IS119K> of a 8r8nt fiom The National Lottery Heir(age Fund to suppon the 8duc8tlon and inform8tion programme. which will be18unched once the memorialto the R8id ha8 been built. ST NAZAIRE RAID MEMORIAL TRV5T Not•stotho un8udftod flnan¢kni¥tatsments Icontd) Forthe p•rlodfrom 20 May 2024to 31 March 2025 Note 9 Tr8nsacllon¥ wlthtw8t•es and r•latsd parti•8 9.1 Ro&tsd parti•• The Trust h85 received consider8ble 8UPPQrt Irom m8mb8rs of the St Nazair8 Society, which was set up in 1946 to ensure th8tthose who did not return from the Raid continued to bo remember6d 8nd to PTOVi(Je reguior opportunltles to refresh the comar8derie ottho ¥urvfvors and theirfamilies. Two of the current trustees are 8L30 officgrs of the Society. Th8 Trust's con$iitution requir0$ ihe majority of truste¢8 to hove no fom81 rolo in the governance of the Socioty. 9.2 Tru•t•e remuner•tlon and ￿fi*fft* None of the trustees have been p8id any remuneralion or T8¢eived 8ny other ben8flts from the charity or ony Teiated eniity. 9.3 Tru8ieo8' oxpoii•e¥J No trust¢e expenses were Incurrod In the period. 9.4 Rolatod party tran$•¢tlon• There have been no retatod p8rtytransa¢tions In the r8porting period. 14