THE POLAND TRUST TrStee$ annual report ond fknanclal llatemeTrl$ for the perlod from I"July 2023to 3ty'June 2024 Charlty number 204424
THE POLAND TRUST CoTrtsnts Reference and administrative informatlon Report of the trustee 24 Independent examlners report Statement of flnantial attlvltles Balance Sheet Statement of cash flows Notes forming partof thefinancial statements 9-16
THE POLAND TAUST Refrrence and admknistratloty Inlomiatlon Rélhtered ¢harhynumber.' 204424 Ch¥lt¢s prfndpal addrtJ5 Poland House, Klln Lane Brockham, 8etrhworth rrey RH3 7LZ Namès otthe ¢hJrftytruAeeand its dSMaor$who manogethe charlly Sldney Michael Poland Tru5tee5 Ltd MAKSm5th Mr5 V A Ro8ers-Wheatlev A T Barrett Mrs L Crulckshènk TJ Kenny D F Minor Mrs D Ferguson Ross P J N Rltchie Mrs P Hammond Mrs M Powell Chairman Treasurer Reslgned 8th November 2023 Appointed 8th 14ovember 2023 Appolnted 10th July 2024 Ind•p•ndwt xarnlner Susannah Wollace Bullimores LLP Chartered Accountants and reglstered auditor5 Old Prlnters Yard 156 South Street Dorkin8 Surrey RH4 2HF B4nker5 The Co-operatlve Bank PO Box 250. Dell House Southway Skelmersdale WN8 6Wt l)¥e5tmeTht athlsers Charles Stanley and Company Lt 25 Luke Street London EC2A 4AR
THE POLAND TRUST Report of the twustet for th• pertod I. July 2023 to 30t4June 2024 siru£ture* ¥eMante and mana£em•nt The Polartrd Trk5St Iformedy known as sidney Mlchael Poland Charity foT a Horne and Recreatlon Groundl was originally e5tabllshed by a Charity Commission scheme dated 21 June 1957 whlch was replaced by a revis scheme ordered by the Char5ty Commlssioners dated 26, January 2001. An Iteration to the revised scheme was ordered by the Charity Commissioners on 19 October 2006, On 7 February 2019 the trustees passed resolutlons to amend the Scheme dated 26, Januèry 2001 to enable a corporate trustee io be appointed., to acqulre additional land and to develop It or dispose ol It,. to manage additlonal land includin8 the appointment of residents and the collection of maintenance charges.. and to chan8e the name of the charity to The Poland Trust. On 12th May 2021 a re501utlon was passed amendin8 the Scheme to enable the charity to borrow money and charge property belonglng to the charity. On 4 May 2022 a resolution was passed arnendlng paragraph 6 of the Scheme to allow sidney Mlchael Polond Trustees Ltd ro belhe sole trustee of thecharllv. On 13 September 2023 the director5 of the trustee passed a re$oluilon 88reeln8 to acqulre the asset5 and 15abilltles ol Surrey Federation Charitable Housing Association IRe8i5tered Society no. 24025RI which also operaie$ 85 Brockham Hou.5ing Trust (Charity no. 2900631. This re501ution enable5 The Poland rrust to rner8e those organisatlon5 Into The Poland Trust which wlll then own the as5et5 and operate the sheltered housing for elderly residents at Anthony West House In Brockharn. The charity Is constituted as a tlU5t and the sole trustee 15 sidney Michael Poland TrJsiees Ltd. The dlrector5 of Sidney Michael Poland Trustee5 Ltd meet alternate months, sub8roups meet at other times to de81 with speclflt issues and report to the full board of directors as soon as practicablè, The dlrectors h3ve examlned ihe major strategic. flnancial and operational risks whlch the charltv faces and confirm that system5 have been estab11shed ro enable re8ular reports tts be produced so that the necessary steps can be taken to redure these risks. No remuneration is pald to the LSirector5 of Sldney Mlchael Poland Trustees Ltd. ObJEcilve5 and ¥¢tlvlile$ The oblettives of the chariiy are- The provision of hou51ng Ec¢ommodation for beneficiar5e5 Charitable purposes for the benefit of the residents of the accornmodation The pro¥lslon and rnalntenance of atnenlty land to be used lor recreation The re15el of benefi¢laries who are in need, hardship or distre$s Charitable purposes for the gerieral benefit of the Inhabitant5 of the grEa ol benefit The area of benefit ol the charSty is the parish ol Brwkham, Betthworth, Leigh and Buckland with priority being Élven to the resident5 of Br(Kkhfjm. The trustee confirms that f( has releired to the guidance contained in the Charlty coinmi55ion's general guldance on publlc benellt when revlewin the chèrlty's aims and objectives and In planning future actlvitle5. The forrner warden of Poland Nouse retlfed as Senior resident and wa$ replaced by the exi5tin8 warden of Anthony West House who has agreed to bo the warden ol Poland House. ThEre was full occupancy ol Poland House and Poland Meadow durine the year. Further work ha5 been carried out on the recommendations ol the woodlands expert on the grounds and the live acres of woodland5. In accordance with the reserves policy further grants have been madÈ from the Poland Fund to beTheficiaries dur5ng the year.
THE POLANDTRUST Achltvements and pl¥ns for Ihe future The Poland Meadow project for local needs hou5in8of twelve units of almshouses at affordable contrlbutlons and fsve units for5elf-bullders at affordable prlces in order to glve people an opportunityto stay in the area of benefit ha5 Proved io be a great success. The Almshouse AsSOCiat5on arranged a vislt bythe Duke of Gloucester in September 2024 who wo$ most irnpressed by the development and con8ratulated the trustees. Payment of the final in5talment of ihe retentlon to Scandia-Hus ha5 not yet been made as further work is require to enable the deposit paid to Surrey County Councll to be repaid to the charity. Progress on both buildin8 and financlal aspecrs of the de¥elopment are kept under revlew constantly by the trustees. All the costs related to the project are Included a5 land afjd buildlnEs addltlons. The whole cost of the project Is beln8 treated as additional endowment and Is beln8 financed by the gift of the land, 8rants from Mole Valley Distrlct Council. the sale of the self-build plots and the charity's own rÈs¢)urce5. A loan of £500.OCI) was neEOtlated wlrh CAF Bank to help with financing whlch has been drawn down in full and 15 now being repald In monthly instalments. Grants of É2.46012023 £2,564) were made to è nurnber ol inélviduals and Instltuiion5 in need. A prograrnme of work the arnenity land hè5 been carried out with a lirrn of tree $pecialist5 as well as the routlne cutting ènd stdmming of th? area. The aC£Dmmudation at Kiln Lane ha5 been maintained to the ts5¢Jal hi8h standard. The rnerger of Brockh8m Housing Trust wlth The Poland Trust Ilnally tompleted on 31, July 2024 but management a8reement berween the two charities enabled The Poland Trust to a55ume the day to day runnlng ol Anthony West House from January 2024. the linan£lal Te5POn5ibilities mer8ed from Aprll 2024. The a$5imllatlon ol the residents and property ol Anthony West House into The Poland Trust has been entirely su£ce55ful and has eTrsured that control of Anthony West PlousÈ remalns with a Brockh8m orgènisatioTh. Resef¥es pollcy* nn¥n¢l•l revlew ind IDvestmeAt pollcy A5 the Exrraordinary Repair Fund was used In recent yeèrs for the refurbishment of all the original and the Peddell Win8 unlis, and for ccnslderable rnalntenance gf the roof of the ori8lnal bulldln& the trustee con5ider5 that a balance of £50,0 at 3Je 2024 is sufficlent. A Contlngency Fund of £30,000 is maintained, The balance ot SeNeS Is lor use by the Poland Fund loi the relief of beneflciaries in need and thls reserve is now being replenished with the monthly residents. tontrlbutlons from the a1hoUse unlts at Poland House. Poland Meadow and Anthony West House. Investment Income was less than in 2023 as More funds were wlthdrawn from the equity Inve5trnents n order to fund the bullding project. Residents, conirlbutlons were hlgher be£ause of an Increase in C(tribUtIon rates and the contributions from the Poland Meadow and Anthony West House resident5. There are no restrlctbns on the charit¢s power to Invest. The investment strate8y Is set by the investment comrnittee of the Erustee with advlce Irom Charles Stanley and CDrnpany Ltd tak5ng into account the Income requifements, the risk prollle 3nd the investment manaeer's view of the market prospects In the me<llum term. The trustee has always kept a proportion of the portfollo low and medlum risk inve5trnents. Stotk market movements durln8 the year resulted in a gain of £5,94812023 1055- £1,8771 In the value of the inveg(ment5.
THE POLAND TRUST reipomlblttyln r•l•tlon to ih•llN•ncW statements Law appllcable to charftles In England and Wales requlres thetrusree to Prepa flnanclal statements lor each Ilnanclal year whlch 8lve a true and fall vlew of the charlty's flnanclal actlvotles and of thE Incornln8 resource5 and applkatSon of resource5 durln8 the year and of Its f1nan¢lpl posltlon at the end of the year. In preparln8 thosef+nanclal statements the trustee Is required to.. select suilablè accountiry8 F4)licits and apptythem tonsistentty,. observethe methods and prInc5e$ In the Charities 50RP,. make judgements and estlmates that ate reasonable and prudent: state whether 8ppllcable occountlng $tand•rds and statements of recommended pradice havt bèen followed subject to any depèrtures dlsclosed and expl#ined in the finandal statèments.. and prepare the flnanclal statemen15 on a golng concern ba31s Unle It Is Inapproprlate io presumethat the charlty will contlnue In buslne5$. Th*trustee Is responslble for keepln8 accounting records whlch dlsclose wlth reasonèble accuracy 8t any time the financlal posltlon of the tharfty and enable ft to ensure that thefiThanclal statements mpty with the Charitie5 Act 2011, the Charitle5 (Accounts and Reportyl AUlatIOnS and the prov151on$ of the trust deed. It Is also responslble forsaleguardlng the assets of the charlty and hence fortakSng reasonable steps for pre¥entlon and detettion ol fraud and othei Irregularltl¢3. ApprovÈd by the trustee and $18ned on its bIha by.. M A K Smlth, Chalrm•n 2025
ThEPOLAND TRUST Irthpendent examlner'5 r•port totlle trust4•S I reportto the tNstee on my ex8mSnation olthe ac¢ounts ol The Poland Trust forthe year ended 30 June 2024, whl¢h are set Olrt on p*d¢s g ro 16. Rtspe¢d¥e responslblllllei ottrust••s and examlner The trustees are pOnSIble for the preparation of the accounts. The trustees conslder that in audit Is not required forthls year underSeOn 144121 of the Charities Act 2011 Itht 2011ArtI and that an Independent examination Is needed. 11 Is rnyrespofi4bllKyto'. Examine the accounts lunder section 145 of the 2011 Act), Tofoll¢)W the procedures lald down In the General tlirectlon$8lveTr by the tharity CommlssloTh lunder sectk)n 145151 of the 2011 Act). and to state whether particular matters have come to my attention. B•sls of the Indeptndent wmlnerfs staternent My examinatlon was tarrled out in aEEordan£e wlth Generil Dlrectlon5 liven by the Charliy Commission. An examination Includes B revlew of the accountin8 record$ kept by the charity and comparison of the accounts whth those records. It 0150 intludes conslderation of any unusual Items or d5sclosures in the J¢cDunt$ and 5ethng explan8tlon from the trustees concernlni any swh matters. The pKKedures undertaken do not provlde all the evldence that would be requlred in an audlt, Jnd consequently no oplnlgn Is en as to whether the accounts present 3 "true and falr VIe and the report is limlted to thase matters set out in the statement below. Indep•ndent e%arnlnerfsststerneht In thecourse of my emamination. no matter has romeio my attentlon which glves me rea50Tr•ble Cause to bellewe that In any materlal aspect the requlrement5'. to keep accounting records In accordan¢e with section 130 of the 2DII Act.. to prepa ac£ount5 whith accord wlih the accountln8 r¥ords aThd Comply wlth the ccountlng requlrements of the ZOII Act have not been rnet. or to whlch. In my opinion. artentSon should be drawn In order to efiable a proper under5tindlni of the accounts to be reached. nah Walla¢e F.C.A Bulllrnorgs LLP Ch8rt8rad Accountants Old Prinl•rs Yard 156 South Stre8l Dorklng Surrey RH4 2HF 61 March 2025
L•mThUST Inr?1•(0NltrthUdI 1x1uWayto3oIhjUrnl0z4 10 200,931 0.334 Zth19)1 7.IS4 X,8 117 l•nd 124.6BU 21.J7 11,907 2Z9.In 11191 4114,011 Ixp•nd (oJrolAl4r4knds ¥674 1.593 l446 ILW69 UZ$9 97A a2,Y12 7.752 2,%4 ERFewdllLr •meniiylqndwerfj 431 l460 ldme#dwtsp5 AnthOryWlNO54nSes 47.309 SL120 54741 51,120 T(al 2A79 1¢5,Cty 107083 231,171 P42t¢rn¢leipthiduMlb lmwn¢ntdII0j 240 24,W 874,616 %947 a13 30,03Z 3Q3$5 B7l969 19J70 30.355 871969 Totsl IDS,775 .?57.9 3,944?55 3ml.n6 FundswlrEdfrtyNAWHAg$4¢1 3B4,637 381&37 fprw4rd 117.2fj0 4.1fj2M# 4359,747 3,W,755
rHEPOLANOTRLIST 14Ji41 Unrnsbl¢ied fuTrJi lur# 2014 io 4.219 21,512 117.250 4,SX2 I43( 4,933,568 L71,S20 4240,262 244on li Totsiii¥ed a$5ets 117.260 4955,117 5,105,LYI 4,4E4,333 4tbank btors DepOts hdd Prnpaymo AnountéuebyRE5eivEFw 43,742 43,741 2,333 59.326 1,412 63.800 2q.726 59,326 1.4B2 $9.326 IC4,985 107.542 63.142 17Q.681 IIY.D3) EdlEors-.amotsn15 FaIlIn8duellin li 60,174 30.513 90.797 63,Bao 7e.s Ilitturiert•wlsllL•bWUes) 47.26B 16,097 5,552 C¥¥dtufs.'4iYitYJnthllln8du4 after onevEai 7(Kb,49) 700,490 .191 nd MBadvreterfons 60.939 60,939 ).939 4,161.487 4,J59,747 3,9M,755 vd¥ EndcwmEtFUo 41,161.487 4,162,187 3,757,98U Re*irf¢iedfvTrds'. lik5.775 10.485 106.?75 10,485 3D.ODO 50.000 so( Ou51WFund fi1ve Fund 117,160 4,16R.487 4,3$9.747 3.944.755 ppioved bythelrustee4
ThEPOIAMIIRUSf Tot41 N•i¢•shied 22 144223 377.974 1ntuut•Dd dlvldqnth Jrthttof nxed•55•ts P(oc50f$e01DellxtOIMets JrthwDFln¥sknents Ped$fOr54eol1nya)lltrn N•tr¥hpro¥¥J•d trrflr•#knI•¢tknS 7.164 10,452 li,6) 1822.9Q31 113Afj81 IIP761 (92,3871 10.4J5 IIIS2071 1585,4411 Grntfroffl Mc4evalle¥thstrltt Cothyll th4tbinkbrohtfryW4fd 24.726 43.742 51,194 24.7Z6
TPOLAND TIIWT
Not•stoth2acrountslurtheyewts jothJ IIIZ4
1. 0•450f pr•pat•¢i
Tht atCDunts of the charfty, whlch Is o publlc benefitenfjty under FHS 102, ha¥e been
pr&p4rnd In atcordance with theCharitle5 X)RP IFRS 1021'Ar¢ountln6 and R¢portin8 by
harltlÈs'. Statementof Fiecommended practe ipplkabie totharttlÈs prÈp3thg thelr
attounts in accordance wlih the Flnènckl IlÉPOrtln8 Stsndard applltable ltt the UK and
ubllt of Ireland IFRS 1021 leffettlve I january 10191,, FlThanclal AePDrtlstandard 102
The Flnanclal ReportlnRStandard appllcable In the UK aTrd Aepubllc 91 Ir¢land' and wlth
thÈ Chèrfties Art ZOII. The accounts have been prepared undÈr the hlstoricll c05t
cNventbJn wlth Item5 recoRnlsed ai c05tor iransactn valup unlE55 Othe$* stated
In the rÈlevantnotssto these accournts.
Thq ¢N$t¢¢
THE POLANDTRUST Note5 to the actounts for the yearto 30th Jvne 2024 lbIlIty reco8tIon U•bllltlÈs are reco8nlsed whoo It Is Ilkoly thon nOtthe Is legal or construttivt obli1at cornmittin8the charty topay out re50wces and the amountof the oblls¥tlon can be measured wlth reasonable cortalnty. Go¥ernance costs comprlse all Costs Invofv5n8the publk accovntsblllty of the charfty and Itscompllancewlth re8ulalknn and Eood practlce, Governance ¢05ts thaye been allOted ful to the main Chart¢ab attlvlty. The cosrof Renefatlng fundsconslstof Irw85knent mana8ement £05ts. Allocatlon of govern•rnce costs Cosi of ralsln8 funds charble Costs of charftsble acdvIes Indude 8o¥ernance costsand dlrect5UPPOrt COSts. These ateonlvrecD1sed in the actounts when a wmmlvnènt ha5 been made and there are no condliloThs be metrelayty tD the 8rantwhlch rna1n In the control ofthe charfty. Grant51re Issued In Ilne wlth the tNstrs 8ovemlng document ot the dl¥rptltsn of the tru51eestr Indivlduals and Instltutlons In hard5hlp and neEd. (>ants payable wlthout performance condltlon5 Tèn8WJlÈf*ed assets ror USÈ by the The5È are capltallsed If theycan be used for mor? thancne vear, and c0stataSt£S¢X•.TheYère volued atcost less depreclatlon. The charfty'5 pdky15 to malntaln pr¢)perty to a hl8h 5tandaTd nd the EMtraordin3ry Aepalr Fund15 Intended to provide 5uffflclentfunds to malntaln and r2furblsh ihe bulldln8S Ot approprlate fjmes. In •ccordance wtth thls practsce d¢pre¢lation Is not proed on fnehold bulhlln85 where. in the oplnlon ofthe tru5tse. the tesldual values are such that Iny depreclatlon charge v40uld be Immèterlal to the year an on a cUmulave ba5. The a55etha5 been tested for IMpaIent. Furrliture and equlpmentlswrftten off ai 25%of the rÈdutln8 balance each yeat o¥erthe estlmated useful lile. Investrnentsare a fomi of baslc lknancl•l InstrLvnentand are inltlally reco8nised at theirtransaction Value and sub5equentl¥ moasjred 31 thelrfalr value as at the balance sheet date usl thÈ do&n8 quoted market pthÈ. The Ststernent of Flnanclal A£tl¥ldes lrtludes the net 8aln5 and losses ar+slngon revaluaOn and dlsposals throuihoLrtthe year. The eh•rity doesnot aequlre wtuPons, derfvall¥es or othei eDmplex financlal1th5truments. The rnjin forrn of financlal risk faced bythe Charity i5that uf volatlllty In equlty matkÈtsond InvÈstment mark¢tsduÈ to wider etortomlt eondtdon¥ the attitudè of in¥estorsto investment rt5 and chan8es In sentlmenttoncÈrnih8 equltles and vrfithin partlcular sectors orsub-sectors. Dpbtor5 represents amount5 owed to the charlty and are reCOE5ed at the E3SrE on tho basss their retoverable amtyJnL Prepayments ère valued ètthe amount prepald atthe yeareod. Investrnents Debtors and prepayments
ThEPtyJJIDThUST olutottrir(4untslq1theyEirlo301hJuIo2I 7T1 7.IE• 117JF Jy i.iY6 17JyI 91J ¢ •43 4F.V èj 51.IlZ 55.JlO 4h)J Or• IrA7) n&715 7NII
THE PQLAND TRUST Notes to the accovnts for the year tD 30th June 2024 2024 2023 7.StAff ¢os Nurnber4 S)lanes and wa8es 12,478 TheaYera6enumberof employeesdrIng the yearvMs 112023." 21 lth allemployee Ilme invofved kn provldlni pport sorvlcesto thartrabk athwtKgs. 2014 Grants made ITh accordan wlththe oblettive5ol the£harflV 2,460 IS64 9.QMpa1411v¢sfortheSt•tem•nl Df FIn•n¢1 ArtP¥btl•s EndowrnEnt & Uftte#trltt R¢#iiltt¢ funds T•t•l In(47mO end0v•tI from.. Donatl¢ns other In<omtr 7) 760819 7615L9 Kesidenw ttyntribulion$ 117,366 10,107 124,6 1,113,172 117,366 10,452 2240 1,114,017 Inve5tmeDi Income 145 Totsi IncDmln8 fEsotsfce5 ExF•ndkurÈ ImtestW•pni rn•n•iemeDi COSES l)arltibtÈAthvbtles'. Polènd Houso wenses ERFeypendlture Ameftity landexpEnse5 Poland Fund grbnt5 Cost of land sales 197,005.CI 132,982.W) 17,752.ml IS7,$ 132,982.OD 17,75Z.OPI 12.564.001 144,G80.NJI 144,680.001 (SI,742.} 151.742 001 1236,5731 12.564.¢0 PDland MEadoweKpEn5e5 Total expendlture 125981 vestmETrt yln5 Ilouul 876,599 874,84$ Nei8aln511055psI Inve5trneots H•1 b¥om• l•Kp•ndlttéj 11,780) 874,744 ¥72,Y70 Trwifvrs b•¢wfft fwd5 40A67 140,46 Not mo¥em•ntlnfwd5 J8,6117 834,282 872.970 Re¢onclll•tknn of fwnds Totsl lund5 browht forward 41,3J3 3.030,473 3,071,786 Toial fundsurri•d 4.8fA,755 3,944.756 12
THE POLAND TRUST Notesto the Account5 forthe yearto 30th June 2024 Furnltw•& AWW L• Af15lhJly 2023 Addlwons 4.2M637 157 10,307 4.254.944 $39510 697.394 Af3CthJunÉ 2024 49221 10,307 539510 4,952.3J8 AtistJuly2DIJ rploithe ht301h Junt2Q24 14,682 1.4C6 A&Cf8 14.682 168Z 1&770 At31Mhluno 1024 4,392.521 4.219 536W8 4.931518 AtacthAune 2023 4,234.637 4,240J62 2024 Mkqt valuu rt 1st12015 244,071 13,888 26,261 Ilh381 24ÈJ77 8,07fj Transfers etainedkncome Sae5 PrEd$froMlsP0sa Gdln/l1055lln the al marketu¢ll3oth ju Z014 113291 IL8771 244,071 17L520 lnltmentsatfflarttt¥a1Uec0mprIsed.. UKequities 4ersea5equttS Cath dÈpuslts COIF ChailJe50eposltFund 113.477 21.1 1351 28,512 171.520 185.888 609 5A38 E4d,07k J2.CrdltarL' ahh)11•114Tr8ltyjttyAthlTron1 IOZ4 7.652 .274 10.960 7,Z68 Held In custodyforSldYlry MlthadP0ld Chaiityno. 2W254 CIF Aank iepxymentsduewlthin Dne year Capltal ReientloDS- AW Deferred In¢orDefrom C•PSts1 6Q.7F4 10.596 9Q,798 7B,501 Ourffft$theye¥theth4ritywa5vJJi¢Jo14n of thpastsolSldney Ml¢hael poland Chailly. Aiieraddhlons otlntere5tdue and deduthon oldlsbuTsementstorits<harltable purposesthebaiancÉof J$sÈt5 at 30thJuThe 2024 was£60.17412023 £,?741. Noimueitwastharledthlsyeir. In 2024thtcredtttrs ofé60.77412023'. £f47741 ielated t unrestrioe¢ fvnds Ond £30,02312023'. £17,727) relaiedtothe endth¥Tritntlynd. U.Cr¢dkorsi•nwI¥fillh¢knfterwft11 CAF Bank103n repayments due after oneye4r Delerred InEutn¢fiomCipltalaTrd othei G¢aTIi 471,701 227.7B3 484,191 484,191
TrIE POLAND TRUST P4otes to the accountsfor the ye3rto 30th June 2024 Fuwds¥¢wlred In(orne Expendkn Tr4Mfers GalNNI IromAW l¥r4 P4rm4nt end0¥¥nl 1757.9 229,In 120541 IlaLS21 S,864 384,637 4,162,487 Nertrlrte 11485 117.2fa) urtrItte fijnd 2,719 12A?91 13231 0 80,r Totsl 3J44,755 231I91 1207M31 384,637 4.359,747 Kfffd• &perdi¢we Tr4rrffor5 6•lM•Dd Fw PeimanEI endowmeni 1,51698 1,113,17Z 3.757,9UO RÈstrtrted 106,775 IC6.775 UnrestilEtsd Dd 4t,aJ3 $45 12,59BI 4Q,467 a71,?86 I,11417 0 11771 ,944,s Unr•ArkMdfvnlicomprL%eth(w funds whkth thtrusè kfr•ètau5èJn a¢cNdanoth the charab0èJeCt%. The unreStredfundS are the ConUn8encyFund. Ihe Extrw)rdln•ry RepaifFun4The Fundand thÈ Poland Fund. ThÈ Extratsrdin3iy ftepalrFund tsto pthdesufficntfds1O wlrtain and refutbi5h the bullthnE5 cornpnslDP P014¢Us¢. irtdydinitht Pedd¢ll atthe appruprlate times. The Poland Fund tsfor the rdlef of tseneftdarle5 In DeE4, h4td5hlp or ¢15rres5.The 8uiklln8Fund hB5 •5taL45hedto fund any hxal nÈed5 housln8b¥hlch thotharlLyrn4¥proYldo In ihe fuLure. rfttedfndafe funds teensen for PartIclar purw5e54nd procts. The Pedlell Fundw95Lwed tholtytoFr0vldetb¢ bulldlnts kTh isthe Ped41 Wln$ af Poland House. The1411d3 Hlll fu Wasc¥¢ &th a tspltrll Sum olÉlO,(KIDbyle8Acyof a formo¢ t•nant andth• Incornea151n( Is to be aPpld tothe Impro¥ement. not rtIne rnalntenwce. of theythn51>fthe property.Tr inltlal Capftalsvtn may not bespent. Th•er0¥t{uTrd representsthL)se assets%¥hlch musi be held permanentlyby the th8iltv, mnclwll¥i?nd, 1118&#A In¥e5tments. IncornÈirlsin8Otithe eAOowment nd can be used InacLDfLlance ¥¥lthlhe ob¢ts ofthe (harliYaDd Islfflduded a5 n1¢5trlcted Income. Anycapltal lOr105%¢$I(ls1M1On the Investmentsform partol lund. Th+ cèpital F•sery• r•piesnts the orf8lnal cosisof tbeTtU51'5 hou51nioropwUe5 net ol grnnts tyIEi¥Ed 14
THE POLAND TRUST Notes to the accounts for the year to 30th June 2024 15. Tr¥nS¥¢llons wlthtrurt8tt and rdalod parths None of the dlrectors Cf the trustee have been pald any iem¢Jneratlon, expenses or recefved any other beneflts from an employmertwith the charlty or a related entlty. During the year Benlamln Bart¢ son of A T Barrett Id5rettor & treasurer), was pald £5.52612023 £7,976) tor 8aYdenln8 seNltes. The charfty Is exempt from tax on Incorne and galns falllng wlthln sectlon 505 of the Taxes Act 1988 or sectlon 256 of the Taxation of Capltal Galns Act 1992 to the extent that these are applied to its chorltable objects. No tax charges have ar15en In the year. 17. FIMn¢l•l comrnltrnents In the year to 30th lune 2021 the charlty sSgned a contract wlth Scandla-Hus Ltd for £2,686,480 to bulld a block gf four flats and a courtyard of eight houses. At the year end there was an amount 01 £145,447 to be pald to Skandia Hu5 01 which £69,082 related to retention5 held and £76,365 lor works subjert to project completlon. The contract Is 5ubstantlally Complete wSth only5naggln8 and rninorworks outstandln8. l& Hous1 cpOratIon 4r•nts The transfer on mereer with Brockham Housln8Tru$t on 31st March 2024 Includes Hou51ng Corporation grants of £349,632 whlch were orlglnally received agalrnstthe orfjglnal purchase cost of the property and are released to Income over thetemi ofthe leasè. Othèr grants of £44,OCLJ were recelved agalnstthe tonstruction cost of two new unlts in 2017 ahd arè rèltased to Income ove Ihe remalnin8 term of the leasè. The frtehdd of the Trust'5 property Is held bysldney Mlthael Poland Trustees Ltd Reglstered No. 12178129 19. CAF Bank loan The chaty obtaSned a £SW,000 loan iatllity wlth CAF Bank, repayable over 20 years to tinance the devlopment ol Poland Meadow on whith interest Is char8eable at 3% overthe base rate. Drawdown of £400,000 was made In July 2022 and £l¢>J,000 In December 2022. There are no performance related Conditions attached to the loan whlch will be repald from the contributlons from the residents of the new development. Thls loan Is secured on the tltle of Poland House, Klln Lane. 8rockham, Betchworth, PH3 7LZ. 15
THE POLAND TRUST Notes to the accounts for the year to 30th June 2024 20 RecDndllatlon of nét movement In funds to n•t cash flowfrom operntkng actlvltle$ 2024 2023 Net movement In funds 30,355 872.969 11,8881 1760,8191 0 1224,6801 4,088 1,875 P.1641 110,4521 15.947} 1,877 13,8151 1,494 228,595 495,710 Grant from Mole Valley Dlstri¢i Coun¢il Sale oflond Add batk depreclatlon charge Deduct Income shown In Investment actlvltles Deduct galnsladd back1055es on investments Decrease Ilncreasel in debtor5 Intrease Ide¢reasel In credllors In¢rease Idecreasèl in deferred liablllties Net cash used In operatin8 activitie5 244,223 377,974 16