REGIsfERED CHARrrY NUMBER: 202631 REPORT OF THE TRUSTEES AND AUDTfED FINANCIAL STATEMEp¥rs FOR THE YEAR ENDED 31 DECEMBER 2025 FOR HOSPThAL OF THE BLESSED MARY Lewis Brownlee (Chithester) knmited ststutory Audltors Appledram Bams Birdham Road Chichester West Sussex P02D 7EQ HOSPITAL OF THE BLESSED MARY CONTENTS OF THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2025 Page Report of the Trustees Report of the Independent Audltor5 statement of Financial Activities Balan￿ Sheet io Cash Flow Ststement li Notes to the Cash Flow Statement 12 Notes to the Financial Statements 13 to 20 Detailed Statement of Finanaal ArtivittQ5 21 to 22 HOSPThAL OF THE BLESSED MARY REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31 DECEMBER 2025 The twstees present thelr report wth the financial siatements of the thatity for the year ended 31 De￿rnber 2025. The trustees have adopted the provision5 rf Accounting and Repk)rting by thar￿les: Ststemert of Recommended Pracb applicable to CharrU￿ prepaying their accounts in accordance with the Finan¢lal Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 102) (effeciive l January 20191- OBJEcfivES AND ArnVTfiES Objective5 and aims (a) To provide Almshou￿ currently St Mary's Hospital, the married quarters, St Mary's LoKlge, St Mary's Courtyard and the Deats Amshouses. (bl To provide pension5 for residents and other local persons of good chatatter in need. Constraints (a) The firstr charge on the income c)f the Charity shall be the cost of maintalnSThJ the propety. (bl Any properbe5 not required to be retrined or occupied for the purpw of the tharity shall not be let for than the st rent available. Policy It is the policy of the Trustees to assist pcKJr persons of goDd chardtter. Public benefit The trustees have considered the Charity commi￿10￿ guidan￿ on public benefit and ctsnsi￿er that the obiecbves 2nd attivib.es Of the Charty proV￿e public benefit in that it provides gwd quality, afftirdable sheltered accommodation and small measure of financial support to elderty people of lim￿ed finanaal means. Page I HOSPThAL OF THE BLESSED MARY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 ACHIEVEMEfiTS AND PERFORMANCE 2025 Review The Hospital of the Blessed Nary (St Marf5) was founded as medieval hospital providing accommodation and Support to the poor. Its contemporary objeLts remain to fftlieve povety chiefly though the provision of almshouse accornmthyation in Chichester. 2025 was a slgnrficant year for St Mary s in several respects. Whilst continuing to be driven by a commitment to Christian Chaiity, estsblished over many centuries, importsnt steps have been taken to modernise and strengthen the goveman of the Charity, consistent wfth contsmKNJrary ￿ed$. Notably, a key deasion was made to clarify the objects of the Charrty and to m&Jernise tts legal struttU￿, with the intenb.on of forniing a new Charrtsble Incorported organi￿tIon ICIO). Staff and Trustees have worked closely with our legal adviso￿, Penningtons Manches co0￿r, and rt is anticipated that the new CIO will be approved and registsred by the ChaEty C￿MiSsion during 2026. St Mary's is chaired by the Dean of Chichester, the Very Reverend Edward Dowter, who is supported by Htsward CasUe- Smith the WKE Chairman. Several steps have been tsken to further strengthen the role of the Board during the year. Three new sub-com[nitte￿ were estsblished. The intention being to improve Board level sthtegic oversight, whilst retsiniwJ Ove￿Ight of the more operdtional risks involving residents, property and finance by sU￿0)Mm￿te￿. Antoinette Hayes and Reverend Canon Jack Dunn resigned as Trustees dltring the year. The Boanl is grateful for their service to the char￿Y. Three new Tnjstees were appointed". j￿siCa Marchant and Karl Roberts, being direcdy aPpKNnt￿ by the Charity, and Reverend Canon Paul Doick, nominated to the Board ty the Chapter of Chichester Qthedral. St Mary's staff team increased from three to four- the aerK Scheme Manager, Custos Ichaplain) and finance Offitrr. The13tter post, created in 2025, was to allow the Charty to bring day to day finanoal management'in house.. These roles a￿ part-tiffle. St Mary's income is mosuy generated by rents from its propety pM)rtfolio, all of which are in central Chichester. The Chanty spent heavily on maintenance and improvements during the year. Major projetts induded.. renovation of several heritage proPe￿eS in Little London and St Pancras roof renewal and extem31 decorations In ￿t￿e London and St Mary's Lodge upJrading Fire Safety and other *curity features th￿￿ghOut the almshouse portfolio - conversion of an existing guest room to provide an addib.onal almshouse letbng. N￿￿h5tsndlng, the I￿$ of ￿nt incurred whilst these improvements were made, income from residw)ti31 letting5 grew during the year. Income from charges to residents increased in line with a long-term plan to bring Wee￿Y Maintenan Contributions into line with those of other soaal housing providers, whiLst remaining affordableto residents on low incomes. Income from the Charty's commercial letbngs fell during the year due to ￿ surrender of the lease by one of our four tenants. We are activety See￿n9 a new tenant forthis pmpety. Demand for the a)arity's 40 alrnshOU￿ is strong, iyjth from indivtdual applicants and from the local housing authority who frequently seek to refer more vulnerable applicants to us for accommodation. Having had few vacancies during 2023-24, four new appointments were made to the almshouses in 2025. These new ¢￿Idents have setded in well and speak highty of their experience in moving to their new h¢￿e. Beyond the Charity's exisiing almshouses, Trustees have tsken steps to widen the St Marys acivitr.es in line with its Charitab￿ objectyves, by working with other partners to relieve need within our exisbng area of benefit. Towards this end, St Mary's provided a l(kn of £815,(X)O to the Westboume Communty Tru5L This enabled fc to build and let 12 new 1￿Me5 at social rent tr) local people in the village of Westtourne. This stheme was the first of its kind in the Dithtt of Chichester and in November was formally opened by Chichesterts MP, Jess Brown-Fuller. This provided a proud moment for the Charity, establishitwJ a lillk between Chichesteffs oldest sooal housing provider, with its origins in the hvelfth ntury, and ts newes¢ founded only three years ago. Page 2 HosprrAL OF THE BLESSED MARY REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2025 FINANCIAL REVIEW Finanoal position Totsl income decwsed in the year from £1,075,963 to £1,069,360 this was due to a commercial pro￿rtY becoming vacant. Total expenditure increased from £1,074,3271 to £1,843,889. Thi% was due to in(reased spend on propety projects, leaving an operating deficit of £774,529. There were net unrealised losses on investments of £105,295 and a net gain on defined pensions of £11,442. Unrealised gain Dn the revaluatr.on of the property portfolio amounted to £1,602,500. The overall balance Df Hosrittsl funds strdnds at £26,989,213 compared to the previous year's totsl of £26,255,095. Investsnent Portfolio St Mary's finanoal investrnents are Outsour￿ and managed by CCLA and oVe￿een by a FinarKe sub-CDmmrttee, ￿ at 31st December 2025 the portfolio contsined a mix of equities, bonds and cash with a value of £1,741,851. Reserve5 policy The Trustee5 have examined the requirements for reserves in kne light of the main risks to the charity. The Trustees do not consider it nec￿sary, at this time, to have an established tK)licy for reseNes as they consider the fitnds generated from income producing investments is sufficient to cover werating and governan￿ costs and access to investments can be gained at Short notio. FUTURE PLANS indicated previousty, the intention of Trustees Ss to form a new Ctharitsble Incorwrated OrganiSati￿ rao? during 2026. Folk>wing a pericxj of thnsition the exLSting charity will te wound up and the work of the charty will ￿ continued by the new Cto Struthre. new CIO will continue to meet charitsble objedives through the provision of almshouses to people in need. srRUCTURE, GOVERNANCE AND MANAGEMEI Governing document The foundab.on date of the Hospital is not known, though it reputedly came into e￿$ten￿ In the second half of the 12th Century. The present Hospital building dates from about 1290. The Hospttsl is governed by a scheme Df the Charity Commissioners dated 4th November 1898, which was revised on 17th Febnjary 1905, 13th February 1987, 8th August 1991, 2n0 January 1997, 20th February 2018 and 26th June 2018. The Trustees of the Hosptsl and ib endowment are drawn from the Chapter of Chichester Githedral and frotn other local individua15 with knowledge or experien￿ relevant to an almshouse ctharity. lttduction and training of new trustees Upon app)intsnent, ead) new Trustee is made aware of their legal reswnsibilities and of their role in the governantr of the Charty. Regular training is provided to Trustees. This includes U[￿a￿"n9 their knowledge and understanding regarding regulatory and legal development affecbng their resp)nsibiifc￿s as Trustees and the governan￿ of the Charity- Risk management The Charity relies on 3 maln income stream5 to SUPPOrt its aims: l) Residenty"al lets 21 Commercial lets 3) Investsnent income Chichester is a relatively affluent area, and the residential market is buoydnt especially for quality such as the o that St Marys own. Three of St Mary's four commercial properties are let to tenants on g¢)od covenants. A tenant for the fouth propety, ojrrentty unlet, is being sought which refiects the challenging nature of the high street Health and &fety ris￿ are managed, and a full review was undertsken by third party in the previous reporbng pErioKI. Page 3 HOSPTfAL OF THE BLESSED MARY REPORT OFTHE TRu￿EEs FOR THE YEAR ENDED 31 DECEMBER 2025 REFERENCE AND ADMINIsfRATIVE D￿AILs Registered Charity number 202631 Principal address St Mary's Almhouses St ma￿DS Square Chithester West Sussex P019 IHR Trustees The Very Reverend E Dowler (lJ?imian) Mr H Castle-smith (VI￿ Chairman) The Reverend P Doick- appointed 03.12.2025 The Reverend J Dunn - ￿Igned 31.07.202S Mr S Dyson Mrs A Hay￿ - resigned 12.04.2025 Mr M Howard Miss S Hull Ms J Marchant- appointed 03.12.2025 Mr D Parfitt Mr K Roberts- appointed 03.12.2025 Mrs R Taunt Auditors Lewis BrDwnlee (Chichester) ￿m￿e(l Chartered Accountsnts Statutory Aud￿Or5 Appledram &rns Birdham Road Chichester West Sussex P020 7EQ Solicitors Irwin Mitthell Thomas Eggar Hcxjse Friary Lane Chichester West Sussex P019 IUF Penningtons Manches Cooper 125 WcMJd Street London EC2V 7AW Bankers N8tWest Bank PIC 5 East Street Chichester West SU￿eX P019 IHH Sthem¢ Managtr Mrs Sue Porter Clerk to the Trustees and Administrator Mr Ivan Westem Page 4 HOSPThAL OF THE BLESSED MARY REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2025 TRusfEES' RESPONSIBILrrY ￿ATEmENT The trustees are reswnsible for preparing the Report of the Trustees and the finanaal ststements in accordan￿ wrth applthble law and United Kingdom Accounting Stsndard5 [Un￿ed knngdom Generally A￿pted Accounting Prath"ce). Charity law ￿qUI￿$ tt)e trustees to prepa￿ finanaal ststements for each finanaal year. Under that law, the trustees have elected to prepare the financial ststements in accordan￿ with un￿ed Kingdom Geneolly Accepted Accounting Practyce [United Kingdom Accounting Strndards and applioble lawl. Under charity law the trustees must not approve the financial statements unless they are ￿tiSfied that they give a true and fair view of the state of affairs of the tharty and of the incoming resour￿5 and application of resour￿5, including the income and expenditure, of the charity for that period. In preparing those finanaal statsments, the trustees are required to selett SU￿able accountyng policie5 and then apply them consistently. observe the methcKls and prinoples in the Charityes SORP; make judgements and estimates that are reasonabk ar¥J prudent. stste whether applicable accounting standards have been followed, subjeLt to any material departure5 diKlosed and explained in the financial stratements- prepare the financial statements on the going con￿r￿ basis unless tt is inappropriate to presume that the charity will continue in business. The trustees are restKJnsible for keepiThJ proper accountlng reconjs which disdose w￿h reasonable accuraLV at any time the financial posits.on of the charity and to enable them to ensure that the financial statements compty with the Charities Att 2011 and The Chaty (Accounts and Retorts) Regulations 2008. They are also responstble for safeguarding the assets of the charity and her￿e for tsking reasonable steps for the preventic>n and detsLtion of fr3ud and other irregularities. Approved ty order of the board of trustees on ... and signed on ts behalf by- Mr H Casue-smith - TN5tee Page 5 REPORT OF THE INDEPENDENT AUDITORS TO THE TRusfEES OF HOSPITAL OF THE BLESSED MARY Opinion We have audited the finanaal statements of HospiLal of the Btessed Mary (the 'charity') for the year ended 31 December 2025 which comprise the Ststement of Fbnanaal Attiv￿"eS, the Balance SheeL the Cash How Strdtement and notesto the f Inanaal statements, induding a summary of significant accounting poliaes. The finanoal re￿￿n9 framework that has been applied in their preparation is applicable law and un￿ed Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting practi￿). In our opinion the financial 5tatements'. gtve a true and fair view of the thte of the charity's affairs as at 31 De￿mber 2025 and of ts ino)ming resour￿ and application of resour￿, for the year then ended. have been propedy pre￿red in accordance with United Kingdorn GeneTrlly Accepted AcccxJnting Practi￿. and have Iken prepared in accordance with the requirements of the Charities Art 2011. Basis for opinion We condutted our audit in accordan￿ wth International Strndards on Audrting (UK) IISAS (UKII and ap￿l￿ble law. Our resrM)nsibilities under those standards are further desuibed in the Aud￿Or$, responsibil￿e5 for the audit of the financial 5tatsments ￿ctIOn of our rewrL We are independent of the charty in accordance wth the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCS Ethical Stsndard, and we have fulfilled our other ethical responsibilities in accordan￿ with these requireFnents. We believe thatthe audit evidence we have cknained is sufficient and appropriate to pmwde a basis for our opinion. Condusions relating to going concern In auditing the finanaal statements, we have corbduded that the trustees, use of the going con￿rn basjs of accounung in the preparation of the financial statements is appropriate. Based on the work we have perf0M￿d, we have not identified any material un￿r(alrItieS relating to events or conditions that, individually or collecbvely, may cast signthcant doubt on the charity's ability to conty.nue as a going cOr￿M for a period of at kast twelve months from when the finanaal statements are authorlsed for iwe. Our responsibiliti.es and the re5kY)nsibilitre5 of the trustees with respect to going concem are descrikd in the relevant sections of thi5 report. Othor inforniatlon The trustees are responsible for the other infDmW"on. The other information Compris￿ the Information induded in the Annual Rep)¢ other than the financial ststements and our Report of the IndeFendent Auditors thereon. Our opinlon on the financial siatements doE5 riot cover the other informalon and, ex￿pt to ble extsnt otherwise explicitiy ststed in our ￿port. we do not expre￿ any form of a￿Urnn￿ condusion thereon. In connection with our aLvJit of the financial strtements, our responsibilty is to the other information and, in doing so. considèr whether the other information is materially inconsistent with the financial statements or our knowledge obtsined in the audfc or otherwise appears to be materially misstated. If we identr.fy such material Inconsistenci￿ or apparent material misstatements, we are reouired to detem)ine whether this gives rise to a material misststement in the financial ststernents themselves. If, based on the wDrf< we have performed, we condude that there is a material misstatement of this other information, we are required to that fact. We have nothing to report in this regard. Matters on which we a￿ required to report by exception We have nothing to rewrt in respett of the following matters where the ￿Briti.e5 (Accounts and Rewrts) Regulations 2008 requires us to ￿port to you rf, in Dur opinion.. the information gtven in the Report of the Trustees is inconsistent in any material respettwith the financial statements,. or suffiaent accounting records have not been kept- or finanual statements are not in agreement wth the accounting records and retums. or we have not received all the inft)rmation and explanations we require ftbr our audiL Page 6 REPORT OF THE INDEPENDENT AUDrroRS TO THE TRusfEES OF HOsP￿AL OF THE BLESSED MARY Responsibilities of trustees explained more fully in the Trustees, ResrKJnsibiI￿￿S Ststement, the trustees are responsible for the preparathn of the finanaal statements which give a true fair view, and for such internal control as the trustee5 detemiine is ne￿SSary to enable the preparation of finanaal ststements that are free from material misstatement whether due to fraud or error. In preparing the financial ststements, the trustees are responsible for 355essing the charity's 3bility to continue as a going con￿rn, disdosing, as applicable, rnatters relèted to going concem and using the going can￿rn basis of accountin9 unless the tnjstees either intend to liquidate the chartty or to cease otErations, or have no realistic a￿ernative but to do so. We have been ap￿inted as audthrs under Secbon 144 of the thar￿les Act 2011 and report in accordan￿ ￿th the Act and relevant regulations made or having effect the￿Under. r objeth.ves areto obtsin reasonable assuran￿ about whether the financial ststements as a whole are free from material my55tatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that indudes our opinion. Reasonable as5ufdnce i£ a high level of aSSLjra￿, but is not a guarantee that an audtt condurted in accordan￿ wtih ISAS (UK) will always detect a material misstatement when it exist5. Msstatements can arise from fraud or error ènd are considered maten.al if, ir¥Jividually or in the aggregate, they could reasonably be expected to influeno the economic decisions of users tsken on the basis of these financial statements. The extent to whith our p￿￿dureS ao capable of detecting irwularities, induding fraud is detailed below.. Irregularitres, induding fraud, are inthnces C•f n0n-cornplian￿ y￿th laws and regulab"ons. We design prO￿￿reS in line w￿h our responsibilrties, oudined above, to detect matsrial misststements in ￿pert of irregularities, including fTrud. The extent to whid) our proce(tures are capable of detecting irregularib"es, including fraud is detailed below: Our aP￿￿(h to identifying and assessing the Msks of material tnisststement in respect of irregukaritie5, induding fraud and non-complian￿ with laws and regulatic>ns, was as follows.. - the engagement partner ensuied that the engagement team collethvely had the approprtate competence. capabllib.es and sknlls to identify or recognise non-compliance with applicable laws and regulats"ons' we identified the laws and regulations applicable to the company through discussions wfth trustees and other tnanagement, and from our commeroal knowledge and experien￿ of the sector; fttused on spectric law5 and regulations whlch we Consi(Je￿d may have a direct material effert on the rlnanaal ststements or the operations of the chanty, induding legislation such as the Charities Att 2011; we a55essed the extent of Compliar￿ with the laws and ￿gUlationS identified above through rna￿n9 enquirles of management and inspecting legal corresrK)nden￿, where applioble; and idenb.fied laws and regutstions were communicated withln the audfc team regularly the team remained alert to instsnces of non-complianTr throughout the aud We assessed the s￿￿ptibIIrtY of the C￿rity'S finanaal ststements to material mi5ststement, includiThJ obtaining an underknnding of how fraud tllight cccur, by.. Ma￿n9 enquiries of management as to where they considered there was suscepts"bility to fraud, thdr knowledge of actual, suspected and alleged fraud; and - considering the intemal controls in pla￿ to mitigate risk5 of fraud and non-complian￿ with laws and wulations. TD address the risk of hud through management bias and override of controls, - performed anèlykncal procedures to idenb.fy any unusual or unexpected relationships,. - tested joumel entries to identify Ljnusual tra[￿L￿On5. - aSS￿ed whether judgements and assumptions made in determining the accounting estimates set out in the accounting poliaes were indKative of potential bias; and investiwed the ffitionale behind Significant or unusual transactions. In response to the risk of irregularities and non-comp1iaft￿ with laws and ￿gulatiOnS, we designed procedures which included, but were not limthl to.. - agreeing finanaal statement disclosures to undedying supporting documentstion. enquiring of Ma￿gement as to aLtual and ifftntial lits"gation ar)d claims. and reviewing corresponden￿ wrth relevant regulatots and the charty'5 legal advisors, where applicable. Page 7 REPORT OF THE INDEPENDENT AUDITORS TO THE TRUStEES OF HOSPITAL OF THE BLessED MARY Our responsibilities for the audit of the financial statem¢nts Because of the inherent lim￿atIonS of an audiL there is a risk that we will not deteLt all irtEgularrf(ies, tr￿ludIng those leading to a material mssiatement in the financial statemg)ts or non-complian￿ wrth regulats"on. This risk In￿aSe5 the more that compliance wrf(h a law or wulation is removed from the events and transactions reflected in the financial statements, as we will be less likety to be￿rne aware of InStsn￿ of nonorb"ng Stsndard applicable in the UK and Republic of Ireland {FRS 102) (effeLtive l January 2019),, FinarKial ReFQtting Stsndard 102 The Financial Reporting Stsndard applitable in the UK and iepublic of Ireland. and the Charities Act 2011. The finanoal ststements have been prepared under the historical cost convention, ex￿pt for investments which are induded at market value, as modified by the rewaluaton of certain assets. The financial ststements are pre￿￿d in stertingi whKh isthe functional currency of the charity- Monetsry amounts in these financial statements a￿ rounded to the nearest tound. Income l income is recognised in the Statement of finanaal Activities On￿ the charrty has entidement to the funds, it is prDbable that the income will be received and the amount can be M￿SUred reliably. Income from investsnent propety rents is recognised in the year in which it is re￿1vab￿. The 5tstement of financial ￿[VitieS indudes the net gains and 105ses arising on revaluations and disposals of investment assets throughout the year. Expenditure Liabilities are recognised as expeThYiture as soon as there is a legal or constructive obligation commtiing the thar tothat expenditure, it is probable thata transfer of economic benefits will be required in sethement and the amwnt of the obligathn can be measured reliably. Expend￿￿re is accounted foron an accruals basi5 and has been classified under headings that aggregate all cost related to the category. Wlkre ￿sts cannot be directly attributed to particular headings they have been allocated to attivities on a basis consistent with the use of resou￿$. Grants offered subject to conditions which have not ￿en met at the year*nd date are noted as a commitment but not accrued as expenditure. Tangible fixed assets Tangible fixed assets are stated at cost less dep￿￿atiOn. Depreciation is pmvided at the following annual rates in order to writs off each asset over its estimated useful life. Freehold property St Mary's Lodge Plant and machinery 2Vo Oll Cost in accordance with the propety lease 20% on cost Property expendthjre which goes atove and beyond simple maintenance 15 caiytallsed, where the cost Df the work exTreds £10,0(￿. Taxation The charity is exempt from trdx on its chartLable activities. Listed investments Listed investments a￿ measured initiblty at C05t and subsequenljy at fair value. Investment property Investment property is shown at fair ￿lUe. Any aggregats surplus or defiat arising from changes in fair value is transfenEd to the Statement of Finanoal Acts"V￿"eS. Fund accounting Unrestrictsd funds can be used in accordan￿ the charitsble objectives at the discretion of the trustees. Page 13 continued... HOSPThAL OF THE BLESSED MARY NOTES TO THE FINANCIAL STATEME￿rs- continued FOR THE YEAR ENDED 31 DECEMBER 2025 ACCOUNTING POLICIES- continued Fund accounting Restricted funds can only be used for particular restrirted purp￿$ within the objetts of the chartty. Restrictions arise when specrfied by the donor or when fijnds a￿ raised for part￿ular restricted purpow. Pension costs and other po$b￿lreMent beneffts The charity operates a defined corktribution pension scheme. Contributions payable tts the charity's pension stheme are charged to the Ststement of Finanoal Activitses in the period to which they relate. Flnancial instruments The Charity only has financial assets and finanoal liabilities of a kind that qualify as basic finanoal instruments. Basic finanoal instruments are recTrJnised 8t amorknsed cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are 51ated at cosL The Charity has no advanced financial Instruments. Going conwn The chanty has a large amount of liquid assets which can be used to support any short-temi downtums in revenue and any e￿p￿"onal expendtture. On this basis the Trustees belleve the thaiity is a 9(￿ng con￿rn. DONATIONS AND LEGACIES 2025 2024 Residenvs contrtbutson rknnations from visitors 260,907 428 204,054 638 261 335 INVESTMENT XNCOME 2025 2024 Rents r￿￿ed Di￿dendS & interest GLJest room rentsl DepDSit account interest 735,120 71,342 379 771,792 96,401 620 871 271 Page 14 continued... HOSPThAL OF THE BLESSED MARY NOTES TO THE FINANCIAL sfATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2025 CHAR￿ABLE Acrr￿rrIEs COSTS 2025 2024 Propety repairs Professional charges Insuran Rates Heat & ￿ght 703,979 61A37 5,234 14,697 142,662 59,090 5,206 5,245 795 674 CHARrrABLE AcrIvrtIES cosrs Grant funding of activib.es (see note 6) Support costs (see note 7) Direct Totsls mshouses 927900 30 120 285 1048 215 GRANTS PAYABLE 2025 2024 mshouses 30 The totsl grants paid to institubons during the year was as follows.. 2025 2024 St Rtchard of Chichester C*rists'an Qre ksoaation Chichester Heart for Homeless Swanfield (hapel 286 5,000 30 30 SUPPORT cosrs Govemance costs Management Finance Totals Almshouses 120 285 Page IS continued... HOsp￿AL OF THE BLESSED MARY NOTES TO THE FINANCIAL ￿ATEmENTs - continued FOR THE YEAR ENDED 31 DECEMBER 2025 SUPPORT cosrs- continued Induded in the above is £10,380 (2024.. £15,555) which relates to the auditr)rs remuneration. Non audit fees amount to £38,307 (2024.. £29,¥1). TRusfEES REMUNERATION AND BENEFrts There were no trustees, remuneration or ither tenefits for the year ended 31 Decémber 2025 nor for the year ended 31 L)eCeM￿r 2024. Trustees. expenses There were no trustees, expenses paid for the year ended 31 Detrmber2025 nor for the year ended 31 De￿mber 2024. STAFF COSTS 2025 2024 Wages and salaAes Social security costs Other pension costs 86,135 1,704 94,268 8,760 103 108 122 223 The average monthly number of employees during the year was as follow5.. 2025 2024 Employees No employees received emoluments in eX￿sS of £60,000. 10. TANGIBLE FIXED ASSErs Freehold property St Marys Plant and machinery Totals COST At l January 2D25 Additions Reclassification 5,559,769 40,338 397,725 277,609 6,235,103 40,338 io 000) At 31 December 2025 3 190 107 DEPRECIATION At l January 2025 Charge for year 1,253,052 245,253 69,073 1,567,378 At 31 December 2025 124 595 1 693 326 BOOK VALUE At 31 December 2025 3 253 145 848 153 014 2 172 115 At 31 December 2024 4 306 717 152 472 208 536 4 667 725 Page 16 conbnued... HOSPThAL OF THE BLESSED MARY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2025 11. FIXED ASSEf INVEStMENTS sted investments Investment Properb"es Totsls MARK￿ VALUE At l January 2025 Disposals Revaluations Redassificationltsansfer 3,387,145 18,227,500 21,614,645 (1,572,7S8) (1,572,758) (72,536) 1,529,964 1,602,500 At 31 December 2025 51 22 240 000 23 981851 BOOK VALUE At 31 De￿rn￿r 2025 1 741851 22 240 000 23 981 851 At 31 December 2024 3 387 145 18 227 500 21614 645 There We￿ no investment assets outside the UK. The approxlmate historical cost of inVes￿nt propertres is £1,678,683, which is estimated as a result of a lack of detailed records. The residential investment properties were subject to a fornial valuation undertaken by Aude Propety Consultsnts and Chartered Surveyors on 31 De￿mber 2025. The tss15 of valuab'on was open market value. The commera81 investment properties were subject to a ft)rmal valuation oll 31 De￿mber 2021 by Flude Property Consutsnts and Chartered Surveyors. The basis of wdluation was open market value. The trust￿$ believe thatthe current valuatton of these prOPe￿e$ is not m*rially drfferent to the Yaluation as *ated in these financi31 statsrnents. During 2025 the Charrtry entered intD a deferred c¢xkn(t to sell 141 and 142 St PancryJs. The properties will be sold for £600,000 within five Yea￿ of the date of the agreement, durin9 which interest of 4.250k per annum wtll be chargeL1. 12. DEBTORS 2025 2024 Amounts talling due w￿h1n one year.. Trade debtors f￿her debtors 51,316 141 292 Si,(M4 121745 192 608 Amounts falling due after more than one year.. Other debtors 815 000 Aggregate amounts 1 007 608 182 789 During 2025 a loan of £815,0(M) was made to Westbourne CommunityTrust ￿m￿ed to partly fund the devekpment of an affordaile housing scheme to provide sooally rented acComm￿ation in Westl)ourne, West Susw. The loan Is for 30 years, at a fLxed interest rate of 50/0 the first £750,000 and 4% on the remairbing £65,000. Intere* repayments will C[>mmen￿ l April 2026. Capitsl ￿￿yrnents will commentt 60 months from the date of the advan￿ment ofthe loan. The charty ho￿5 a fit* legal charge over the property arml asswated assets w￿h Westbourne Community Trust Limited. Page 17 continued... HosprrAL OF THE BLESSED MARY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2025 13. CREDThORS: AMOUNTS FALLING DUE WThHIN ONE YEAR 2025 2024 Other I￿n$ {5ee note 15) Trdde credito Rent deposits Acrruals and deferred income 852 119,899 48,377 767 40,159 47,631 171082 Enduded atove is deferred income of £53,266 (2024.. £53,125) which relates to rents re￿Ned in advance. 14. CREDrroRS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR 2025 2024 Other loans (see note 15) 15. LOANS An analysis of the rna￿rty of loans is given below: 2025 2024 Amounts falling due within one year on demand- Housing c[}rw￿ti{)n loan 852 767 Amounts falling betsveen one and two years: Other Icians- 1-2 years 852 Amounts falling due between tNo and five years: (￿her l(ians- 2-5 years Amounts falling due In more than five years: Re￿Yabte by instsltnents- Other loans more 5yrs insial 57,195 60,290 16. SECURED DEBTS The following secured debts are induded within credrtors.. 2025 2024 Housing corporation loan The IDans are due to the Housing CNporthn and are secured by way of a specifK charges against the properties owned by the Char￿/. The loans are repayaNe at varying rates of interest to a maximum of 10.75% per annum. p￿al is being re￿id over 60 year5 from 31 March 1987. Page 18 continued... HOSPtrAL OF THE BLESSED MARY NOTES TO THE FINANCIAL sfATEMErirs- continued FOR THE YEAR ENDED 31 DECEMBER 2025 17. MOVEMENTIN FUNDS Net movement in funds At 31.12.25 At 1.1.25 Unrestricted funf]s General fund 26.255,095 734,118 26,989,213 TOTAL FUNDS 26 255 095 734 118 26 989 213 Net movement in fund5, induded in the above are as follows.. Inooming resou ReSoLj￿s expended Gains and losses Movement in fvnd5 Unrestrirted funds General fund 1,069,360 (IW3,889) 1,508,647 734,118 TOTAL FUNDS 734 118 Comparatives for movement in funds Net movefflent in funds At 31.12.24 At 1.1.24 Unrestricted fynds General fund 26,170,85Q 84,245 26,255,095 TOTAL FUNDS 26 170 850 26 255 095 Comparative net movement in fv￿s, included in the above are as follow5.. Incoming resourres ReSoUr￿S expended Gains and losses Movement in fttnds Unrestricted funds General fund 1,075,963 {1,074,327) 82,609 84,245 TOTAL FUNDS 1075 963 1 074 327) Page 19 contynued... HOsP￿AL OF THE BLESSED MARY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2025 17. MOVEMENT IN FUNDS- continued A current year 12 morths and prior year 12 months combined postion Is as follows: Net movement in funds At 31.12.25 At 1.1.24 Unrestricted funds Gene￿1 fund 26,170.850 818,363 26,989,213 TOTAL FUNDS 26 170 850 818 363 26 989 213 A current year 12 months and prfor year 12 mDrths combined net movement in funds, induded in the aLK)ve a as follDWS- Tncoming resources ResourTrs exFEnded Gains and losses Movement In funds Unrestricted funds General fund 2,145,323 (2,918,216) 1,591,256 818,363 TOTAL FUNDS 2 145 323 2 918 216) 1591256 818 363 18. RELATED PARTY DISCLOSURES During the year ended 31 December 2025 the a)arity incurred expenditure of £16,560 to M.J Howa￿ MDC Limtted, a company whose (Jirector and shareholder is a trustee of the charty. transactions were conducted on an am)s length basis. 19. PENSIONS st Mary's Hospital parbcipates in the Church of England Defined Benefits Scherne (DBSI, part of the church Workers Pensions Fund, for employees who joined the Stsff before 31st De￿m￿tr 2002. At 31st December 2025 there are no active members. The a%ets of the furKi are held separdtely from those of St Mary's Hospital. The Defined Beneffts scheme was the subjett of a fvll valuation as at 31st December 2022. The fvnd was shown to be in surplus and payments to meet a previous deficit have now ceaseij. st Marfs Hospitsl also pa￿0pateS in the Church Workers Pension fund Pension Builder 2014 Defined Contribution eme. Pension contributions are charged to the Ststement of Finanaal Activdies as they arise. Page 20 HosprrAL OF THE BLESSED MARY DEfAILED STATEMENT OF FINANCIAL ACTIVThIES FOR THE YEAR ENDED 31 DECEMBER 2025 2025 2024 INCOME AND ENDOWMENTS Donations and legacies Resident's contribution DonatK>ns fium visitors 260,907 428 204,054 638 261,335 204,692 Inve5tfflent income Rents re￿iVed Dividen(ts & intere# Guest room rental Deposit account interest 735,120 71,342 379 771,792 96,401 620 808 025 871271 Total incoming resour 1,069,360 1,075,963 EXPENDtruRE Investment management costs Property re￿1 Professional charg nsuran Rates Heat & Light 703,979 61,437 5,234 14,697 142,662 59,090 5,206 5,245 795,674 218,449 aritable activities Wages Soaal security Pensions Rates and water Insuran ght and heat Sundries Garden expenses Repairs & maintenan Outings & trips Depreaation of St Mary's Couityarfi Depreaation of St Mary's Lodge Plant ar)d machinery Grants to institutions 86,135 1,704 15,Z69 52,662 27,366 46,443 9.293 52,113 491,209 19,758 63002 6,624 55,522 30 94,268 8,760 19,195 21,212 26,527 93,134 12,315 62,079 251,718 6,602 111,195 6,624 55,522 927,930 774,437 Support costs Management Telephone 11,945 11,496 This page does not fomi part of the ststtrt(xy finanaal statements Page 21 HosprrAL OF THE BLESSED MARY DEfAILED STATEMENT OF FINANCIAL ACTivmES FOR THE YEAR ENDED 31 DECEMBER 2025 2025 2024 Management Finance nk charge5 1,082 708 6,257 7,759 Governance costs Auditors, remuneration PAJokkeepiThJ Legal and professional fees 8,385 48,337 15,555 29,441 102 083 Totsl ￿SoU￿5 expended 1074 327 Net (expenditure)Ilncome before gains and losses (774,529) 1,636 Realised recognised gains and Josses Realised gainS/(lo￿es) on fixed asset investrnents 32 759) Net (expendlture)lincome This page does not fomi part tsf the statutory financial ststements Page 22