THE PQLAND TRUST Trustee$ annual report and flnanclal statements for the perlod Irtsm I. July 2024 to 30 June 2025 Charity number 204424 THE POLAND TRUST Contents Pale Aelerence and administratlve information Report of the trustee Independent ?udiior5 report Statement ol financial actlvlt￿es 8alance sheet Statement of cash IIow5 io Notes forming part ol the fSnancial 5taternent5 11.17 THE POLAND TRUST Reference and administratlon ififormatlon Reglstered charity number: 204424 Charlty's prlnc5pal address Poland House, Kiln Lane Brockham, 8etchworth Surrey RH3 7LZ Names of the charlty trustee and Its dlrectofs who manage the charlty Sldney Mlchael Poland Trustees Ltd M A K Smith- Chairman A T Barrett Mrs L Crul¢kshank T J Kenny D F Mlnof Mr5 V A Ro&ers-Wheatley- Treasurer Mr5 D Fer8uson Aoss Mrs P Hammond Mr5 M Powell Independent Audltor Patrl¢k Casey Bullimofes LLP Chartered Accountants and registered audltors Old Prlnters Yard 156 South Street Dorkln8 Surrey RH4 2HF Bankers The Co-operative Bank PO Box 250, Delf House Southwav Skelrner5dale WN8 6WT Investment adv15ers Charles Stanley and Company Ltd 25 Luke Street London EC2A 4AA THE POLANDTRUST Report of the trustee for the perlod I" July 2024 to June 2025 Structure. governance and management The Poland Trust (formerly known as Sidney Mich3el Poland Charity fof 3 Home and Recreation Groundl wa5 originally established by a Charity Commisslon Scherne dated 21" June 1957 which wa5 replaced by a rev15ed scherne ordered by the Charity Commissioners dated 26, January 2001. An alteration to the revised scheme was ordered by the Charity Commissioners on 19 October 2006. On 7, February 2019 the trvstees passed resolutions to amend the Scherne dated 26 January 2001 to enable a corporate trustee to be appointed,. to acquire additional land and lo develop It or dlsP05e of it.. to manage additlonal land including the appointment of residents and the collection of maintenance charges.. and to change the name tsf the charity to The Poland Trust. On 12, May 2021 resolution was passed amendin8 the Scheme to enable the charlty to borrow money and charge property belon8in8 to the charity. On 4 May 2022 a resolution was passed amending paragraph 6 01 the Scherne to allow Sidney Mlchael Poland Trustees Itd to be the 501e trustee of the charity. On 13, September 2023 the directors of the trustee passed a resolution agreeing to acqulre the assets an(J liabilitie5 of Surrey Federatlon Charitable Housing Association (Registered Society no. 24025RI which a150 operates as 8rockham Housing Trust (Charity no. 2900631. Thi5 resolutlon enables The Poland Trust to mèrge those or8anlsations into The Poland Trust whlch will then own the assets and operate the sheltered housing for elderly resldents at Anthony West House In Brockham. The charity is constituted as a trust and the sole Irusiee Is Sidney Michael Poland Trustees Ltd. The dlrectors of Sidney Mlchael Poland Trustees Ltd meet alternate months, subgroups meet at other tlme5 to deal with specific issues and report to the full board of directors as soon as pracllc8ble. The directors have examined the major strate8ic, financlal and operational risks whlch the charitv faces alld confirm ihat SySterns have been established to enable regular reports to be produced 50 that the nece55ary Steps can be taken to reduce these risk5. No remuneration Is paid to the directors of Sidney Michael Poland Trustees Ltd. Oblectfves and actlvltles The objectives of the charity are.. The provislon of houslng accommodation for beneflclarles Charitable purposes lor the benefit of the resldents ol the accornmodatlon The pr()vision and malntenance of amènlty land to be used for recreation The relief of beneficlarie5 who are in need. hardship or distress Charitable purpose5 lor the general beneflt of the Inhabitants of the area of benefit The area of benefit of the chaTIty is the parishe5 of 8rockham, Betchworth. Lelgh and 6uckland with priority bein8 given to the residents of Bro¢kham. The trustee confirm5 that it has referred to the 8uidance ctsntainèd in the Charity Cornmission'5 8eneral guidance on public benefit when revlewing the charity's aims and oblectlves and in planning future activitles. The former warden of Poland House retired as senior resident and was replaced by the existin8 warden of Anthony West House who has a8reed to be the warden of Poland House. There was fvll occupancy of Poland House and Poland Meadow during the year. Further work ha5 been carried out on the recommendation5 01 the woodland's expert on the grounds and the five acres of woodlands. In accordance with the reserves policy further grants have been made from the Poland Fund to beneflciaries during the year. THE POLAND TRUST Achle¥emen15 and plans for the future The Poland Meadow project for local needs housing of twelve units of almshouses at affordable contributlons and five units for 5elf-builders at affordable prices in order tr) give people an opportuniry to Stay in the area of benefit has proved to be a 8reat success. The Almshouse Association arranged a vislt by the Duke of Gloucester in September 2024 who was most impressed by the development and congratulated the trustees. Maintenance on both building and f1nanci31 aspècts of the development are kept under review constantly by the trustees. All the costs related to the project are included as land and buildings additiong. The whole cost of the project is belng treated as additional endowment and is being financed by the gift of the land, 8rants from Mole Valley District Council, the sale of the sell-build plots and the charitrfs own rèsource5. A loan of £SOO.000 was negot5ated with CAF Bank to help with financing which has been drawn down in full and is now being repald In monthly instalments. Grants of £6,54412024 E2,4601 were rnade to a number of indlvlduals and in5titution5 in need. A program ol work on the amenity land has been carried out with a firm of tree specia115t5 as well a5 the routlne cuttln8 and strlmming of the area. The accommodation at Kiln Lane has been maintained to the usual hlgh standard. The mer8er o18rockham Hou51ns Trust with The Ptsland Trust fSnally completed on 31" july 2024 but management a8reernent between the two charitie5 enabled The Poland Trust to assurne the day to day runnlng of Anihony West House from january 2024, the financial responsibilltles merged from April 2024. The asslmllation of the residents and property of Anthony West House into The Poland Trus( has been entirely successful and has ensured that control of Anthony West House remalns wlth a Brockharn organlsatlon. Aeserve5 poIIcyi financlal revlew and Investment pollcv As the ExtraordSnary Repalr Fund was used In recent years for the refurbishment of all the ori6lnal and the Peddell Wlng unlts, and for consideiable maintenance of the roof of the original buildln& the trustee con5ider5 that a balance of £50.000 at 30 June 2025 is sufficient, A Contingeno Fund of £30,000 15 malntained. The balance ol reserves is for use by the Poland Fund for the relief of beneflclarles In need and this reserve15 now belng replenished with the monthly resl(lents' contribution5 from the almshouse units at Poland House, Poland Meadow and Anthony West House. Invèsiment income has not changed In 202415 as funds were not needed frorn the Èquity investments. Residents, contribution5 were higher because of an Increase in contribution rates and the contributions from Anthony West House residents, There are no restrictlons on the charity s power to Invest. The Investment Strategy is set by the investment comrnlttee of the trustee with advice from Charles Stanley and Company Lid taking into account the income requirements. the risk proflle and the Investment manager's view of the market prospects in the medium term. The trustee ha5 always kept a proportion of the portfolio in low and medium risk investments. Stock market movement5 during the year resulted in a loss of £82212024- Gain £5,947) in the value of the Investments. THE POIAND TRUST Trustee'5 re5ponslbillty In relation to the financial statements Law applicable to charitie5 in England and Wales requires the trustee to prepare financial statement5 for each financial year which give a true and fair view Df the charity's financial activities and of the incoming re50urce5 and application of resources durin8 the year and of its finartcial posltlon at the end of the year. In preparing those financlal statements the truslee is required to.. selett suitable accountin8 policie5 and apply them consi5tentlv,' observe the methods and principles in the Charltles 50RP., make judgements and estimates that arè reasonable and prudent-, state whether applicable accountln8 Standards and statemen15 of recommended practlce have been followed subject to any departures disclosed and explained in the financial statements., and prepare the flnancial statements on a going concern basis unle55 St15 Inappropriate to presume that the charity will continue In buslness. The trustee 15 responslble for keeplng accountin8 record5 which disclose wlth reasonable accuracy at any tlme the flnancial posltlon of the charlty and enable It to ensure that the flnanclal statement5 comply with the Chorltle5 Act 2011, the Charities IAccounts and Report51 Regulation5 and the provisions ol the trust deed. It Is also responslble for safeguarding the assets of the charity and hence for taklng reasonable slep5 for prevention and detection of fraud and other Irregularlties. Approved by the trustee and signed on it5 behalf bv-. M A K Smlth. Chalrman 2026 Independent Auditorfs Report tothe Trustee of The Poland Trust Oplnlon We have audited the financial staternents of The Poland Trust Ithe'charStVI forthe year ended 30June 2025 on pages 8 to 17 which comprise Statement of financial acrivitles. balance sheet5 and notes to the financlal statements, including a summary of significant accountlng policles. The financial reporting framework that has been applied in their preparation 15 applicable law and Unlied Kingdorn Accountin8 Standards, Includln8 Financial Reportlng Standard 102 The Finonciol Reportlng Stondord opplicoble in the UKond llepublk of Irelond Iunlted Kin8dom Generally Accepted Accountlng Practice). In our oplnion the flnanclal statements: glve a tfue and fair vlew of the 51ate of thechar5ty'S affalrs as at 301une 2025, and of Its Incomlng resources and appllcatlon of resource5, for the year then ernded,. have been properly prepared In accordance with Unf(ed Klngdom Generally Accepted Accountln8 Practlce., nd have been prepared in accordance wlth the requlrements of the Charltles Att 2011. Basls for oplnlon We conducted our audit in accordance wlth Internatlonal Standards on AudStinB IUKI IISAS IUKII and appllc8ble law. Our responsibllities under those Standards are further descrlbed In the Auditor's responslbllltles for the audft of the financlal statements section of our report. We are Independent ol the charlty In accordance with the ethical requirements that are relevant to our audlt of the finan£Sal statements Sn the UL Including the FRC'S Ethical Standard, and we have fulfilled our other ethical responslbllltles In accordance wlth these requlrèment$. We believe that the audit evidence we have obtained is sulflclent and approprlate to provide a basls for our oplnion. Concluslons reht1￿t9 $oln¥ conrxrn In audltlng the financlal statements. we have concluded that the trustees, use of the golng ¢on¢ern basls of accountin8 In the preparation of the financial Statements Is approprSate. Our responslbilities and thè rèsponslbllltles of the trustee wlth respe¢t to 8oln6 concern are descrlbed In the relevant sertlons of thls report. othèr Informatlon The trustee is responslble for the other Informatlon. The other Informatlon comprises the Informatlon Included Sn the trustees, annual reportother than the flnancial statements and our audbtols report thereon. Our oplnlon on the flnancial staternents does not cover the tsther Information and we do not express any form of assurance conclusion thereon. In ¢onfte¢tlon wlth our audlt of theflnanclal statements, our re5ponslblllty Is to read ihe other Information and, in dolng so, conslder whether the ￿her Information Is rnaterièlly Inconslstent wlth the fTnanclal statements or our knowledge obtalned In the audit or otherwlse 3ppear5 to be materlally mlsstated. If we identSfy such material incons15tencies or apparent materlal mlsstatements. we are reoulred to determlne whether there Is material misstatement In thefinanclal statements or a materSal rnisstatement ol iheother Informatlon. If, based on the work we have performed, we conclude that there 15 a material mlsstatement ot thls other informatS0n, we are required to report that lact. We have nothlng to report In this re8ard. lftdependent Auditorfs Rtport to the Tru￿et of The Poland Trust Matters on whkh we are requlred to report by exceptlon We have nothing to report In respect of the followln6 rnatter5 in relation to which the Charities 0port&￿I 2008 requlre us to report to you if, in our opinlon.. Attount5 aTrd the Informatlon 8lven In the financlal statements Is Inconslstent in any rnaterlal re5pectwith the trustees. report,. or suffSclent accounting records have not been kept., or the flnanclal staternents are not in agreement with the accountin8 records; or we have not recelved all the information and explanation5 we require for our audSt. Respon51bllStkn of trustee As explained more fully In the trustees, responsibilities statement set out on page 4, the trustee Is responsible for the preparatlon of flnènclal statements which give a true and falr view, and for such internal control as the trustee determlnes Is necessary to enable the preparatlon of flnancial statements that are free from material mSsstaiement, whether due to fraud or error. In preparln8 the flnanclal staternents, the trustee Is responslble for assessln8 the char4tVs abllltyto ¢ontinue 85 a 8oln8 concem, dlscloslng, as applicable, matters related to 8oln8 concern and u51118 the going concern basis of accountlng unless the trustee élther intends to Ilquldate the charlty or to cease operatlons. or have no rea1I5tlc alternatSve but to do so. Audltorfs re$ponslbNltles lorthe audlt ol the flnandal stat•m•nts We have been appointed a5 audltor under sectlon 145 of the Charltles Act 2011 and report In accordance wlth re8ulatlons made under 5ectlon 154 of that Act. Our oblectives are to obtaln reasonable assurance about whether the flnanclal statements as a whole are free Irom materlal misstatement, whether duè to fraud or error, and to Issue an auditor's report that Includes our opinion. Reasonable assurance is a hl8h level of assurance, but is not a 8uarantee that an audlt conducted In accordance wSth 15As IUKI will alway5 detect a materlal mSsstatement when It exists. Migstatements can arlse from fraud or error and are con51dered material If, Indlvidually or In the a88re8ate, they could rèa50nably be expected to Influence the economic dec155on5 01 users taken on the basis of these Ilnancial statements. Irregularltles, IncludSn8 fraud, 4r* instances of non-compllance wlth law5 anil re8ulatlons. We desi8n protÈdure5 In 15ne w5th our responslbilitles, outlined above. to detect materSal mlsstaternents In respect of irresularltles, Including fraué. The extent to whlch our procedures are capable of detectln8 Irre8ularltles, Includin8 fraud bs detailed below.. We obtalned an understandlng of the lÈgal and regulatory frameworks that are appllcable to the Charity and determlned that the m05t 51gnificant which are directly relevant to spe£lflc 05sertion5 in the financial statements are those related to the reportlng framework5 IFRS102, the CharltSes SORP IFRS 1021, the Housing SORP 2018 and the Companies Act 20061. We understood how the Charity Is complylng wSth those legal and re8ulatory framework5 by making enquirie5 of thetrustee and mana8emEnt. We did not Identify any matter5 relatlng to non-compllance wlth laws and regulation5 or relating to fraud. We assessed the su5ceptlbility of the Charlvs financial statement5 to rnaterial mi5Statement. includin8 h¢)w fraud might occur by discussions with the trustee and management to understand area5 where they conside￿d there was susceptlbility to fraud. We also considered pressure5 on the trustee and mana8ement ro meet any Èxternal pre55ures in reportlng the flnanclal results of the Charitv. Independent Auditorfs Report to the Trustee of The Poland Trust Audit procedures performed bythe engagetrent tearn on the areas where fraud m48ht occur Included.. • evaluation ol the mana8emenYs internal procEsses designed to prevent and detect IrregularStie5 testin& with a focus on entrie5 determined to be large or relatingto unusual transactions revlew of data to detect unusual transactions. Asses5rnent of the appropriateness of the collectNe competence and capabiiirles of the En8a8ement team included consideration of the en8agement team's.. understanding of, and practical experience with audlt engaBement5 01 a sirnilar nature and complexlty throu8h the appropriate training and participat5on knowledge of the sector in which the Charity operates understandln8 of the legal and regulatory requirements specific to the Charlty. A further dexrlptlon of our responslbllities for the audit ol the flnancial statements Is located on the Flnanclal Reportlng Counc51's webslte at.. VKWW.frc.or8.uVaudltorsresponsibilities. This description forrn5 part of our audltorfs report. Use otour report Th55 rewrt Is made solely to the charlty's trustee, as a body. In accordance wlth Acco ula Our audit work has been undertaken so that we might state to the charlty's trustee those maiters we are required to state to thern in an audltorfs report and for no other purpose, To the fullest extent permitted by law, we do not accept or as5urne responsibillty to anyone other than the charity and the charlty's trustee as 8 both, for our audlt work, for thi5 report, or for the oplnlons we have formed. Patrick Casey FCA For and on behalf of 8ulllmores LLP Statutory Auditors and Chartered Accountants Old PrSnters Yard 156 South Street Oorking Surrey RH4 2HF Oaie.. Bullimores LLP is eli8ible to act as an auditor in terms of section 1212 of the Companles Act 21x16 THE POiAND TRUST Annual accountslortr* ￿riod from ljt1uty2024to30thj￿ne Z025 5t•tsmontof flnarKlal •¢tl¥rft1•5 Restrkted Endowment Totsl Total fund5 Trds d5 2025 2024 In¢om••r4 •ndtyATh•ntstram.' Residents, contriburions Investment incomè 252,411 5.193 252,4ll 200.931 7,164 1.888 1.407 5,422 Dona￿OnSa￿d 8rants sale of 5.422 Other Sncome 17,142 17.142 21,907 Total In4Èrs•a5aqultteS Int•r051on ¢èsh thposlt 4,668 525 5.SS 774 B3U 7.164 C￿rItAblI athVI￿•S ResldÈnlS' CODtilbut50 )nètloDsindirants 2S2,411 S,422 20J.931 Olhorln4x)me 17,142 174,975 21,9)7 lnvrftmertmin1￿￿t1O Wird•nl'siI•ry WiTd•ns.•XP￿t*s 610 7.401 8,194 5,095 9.476 11,62Y Él•¢tilrliV In1ur4rte 20,207 Repilry ind r•n•wi 30.620 10,307 34,247 9,450 ndry•¥yn¥•l 1,599 1.406 1,055 9365 IW571 1fy),2fj9 Poknd M•4dv O•prttl•U 1,194 1,319 5.859 GJid•nm•lniinint• L954 28 dry•xp*ns• Lrmn ￿tIr•￿t 37ml 5BN17 341 47,309 AnthwvWmE MOIISQ W4th5' •Kp•ni•i 46.639 3,187 15,fj90 29.129 Elettr￿ty1fvd1 rd* GowrninE•(O#S 10,732 Ir&urince 1,118 ndrles L)Nnln8 Depr*rknt 42 435 255 IIA98 B3,919 1,6B2 Sl,120 ERFe*p•Ddtture Amenlty land upense5 6.339 4,632 4,632 Ch4rh*kirtMtksfvndrf ￿unN51￿￿edfv￿d fund giant5tD ￿d￿dullS Polaid si￿15104n5￿tUdO Total ￿P￿￿￿tU 273.830 105, 13 T￿poL￿1D1RuST tothè#wuntslDrthv¥ewtts30thJun•2025 6.thr*hin of8o¥*m•rth e09ts 202$ StatlonÉry ind telephont AudltlEvmlnei f*pS Le8al fees.PH Leial fees-PM Leial fees. AW I.JL5 8.150 141 3.IBI J2.Y6 10.732 18.813 The 8Ovemaneec•sts•it411wt¢dfvllftOth•th•rit4W•4rti￿ty ?%￿dituTe •ttrlbuEabletothe endowme fund. 1025 2024 7. St￿(D￿tr￿nd wmb•rs s￿OrIeS￿ndWaies 15,610 12.478 TheJYerJie nurnbErofernplDyqes durini ihewarwèl 112014.. 11 vAth In¥ol¥qdln prthldl yJpport 5er¥lcest4 cha￿Table act￿ltIe Nv Ernplv￿ recefved •molumentscY employee ￿n•￿tsIn tsf£W,th￿I2￿l4..Dl 20 Z024 Grihti rnadvlnKWrd•nrewlthth•obl•¢t￿￿QI ihech•rftv Tothi lun fvndi ir4nti I￿88 1,018 IL907 OFhorlnrome h•r￿thIe KtI¥￿I•l.. Re¥dents'contrtbuikns Zl,*7 I￿,931 6.334 2ts),931 7,164 Itwt6tm•nt 5ncarni 830 Totil Incornin¢rewurceJ Exp•ndttu Caittsl¢*bInil￿￿d Ihvestmentrn40¥qmEni co 229.L7Z 231,891 11,6931 Ch•rft•bh •ethilkn'. P￿￿Thd HuuJeexpoflMS IIW,2691 IiW.1691 Amen1ty1and expenjes p￿4￿d Fundorints AnthvnyWe5t Hous• expqws •r￿ M*adow*Ap•ni•s To1￿*￿p￿1dltvr* 14,6311 12,4601 11,4601 147.309 IIA791 1207,4831 N•t ley•Ddttur•lb•lorn strn•ntlalhiIlo6￿l 239 14,168 14,408 Netiilns IloJJesl on investment5 N•tlnmm• (w•Dd￿jr*l 83 5.864 30.03Z 322 30.355 321 Netmovementln fund5 30.354 10.355 R•- AWH Deferred In£omry trom C4pltil Gr*nE 10.116 S9,914 13,328 7,268 4.fj22 95,248 7,651 £0.174 10,9 7,268 4.643 90.7Y7 th•¥eirthe tharltywa5£u5todian ofthe as￿15 pf Sidn•yMlch4•1 P￿and Charfty. Aft?r id4￿1¢n vf du• and deductbn oldlsbvrsomQt)ts lof ltscb3rli4b￿ purp95e5 the balance of 155et54t3UthJune 2025was £59.914 IZ024 £60.274I. Th1315 rnprEs•nied in these accounts by Investrnentsin the COIFCharitl•s D￿￿￿t Fund and theC(YF Flxed Interejt Fvnd. Ih 202S olthecredltory £55,91412024.' E60.Z741 r￿l￿tEd tD unf￿7[1ed lun4sand E3&33411024 £30,523) r44t•d roth• ondowmentknnd. CAF8ank loan rBpaymentsdue after yEar Dlhriqd Iniome fmm CJwtsland atherGtstsi 457,723 223.184 472,707 227.783 7W,49D Is THE POLANDTRUST Notes to the accounts for the year to 30thJ¥Jne 2025 14. Analysis of charitable fund5 Fund$ a¢4ulred Analy51s of Balance Incorne EJtpeDditut• Transfers Galns and losse5 from AWH Funds blh¥d Reserves movpm•nts Perm3nent endowment 4,162.487 274,746 1268.6961 285 18221 4,168.000 Restricted fund 117,260 117.260 Unresirlrted fund 80.000 6,829 16.5441 12851 80,0 Total 4,359,747 281,575 1275.2401 18221 4,365,260 An•tysls of ¢h•rlt•bl• fvnds. pi•vlous y•ar Funds ac4ulrtd from AWM Anatysls ol fund B¥l•nce Income ExpendFture Trnnsfers Galns and loss•s Funds cllwd Reserv•s mo¥em•nts Permanent endowment 3.757.980 229.172 1205,0041 110,1621 5,864 384,637 4.162.487 Restrkted fund 106,775 10,48S 117,260 Unrestrlrted fund ao.000 2.719 12,4791 13231 83 Total 3,944.7S5 231,891 1207,4831 5,947 384,637 4,359,747 UnroStrl¢itd funds comprise those funds which the trvsiee Is free to use in a¢cordènce wlth the tharltable oblects. The unrestricted funds arÈ the Contln8ency Fund, the Extraordlnary Rep31r Fund, The Housln8 Fund and thè Poland Fund. The Extraordlnary Repalr Fund Is to provlde suffitlent funds to malntaln 3nd refurblsh the buildlngs comprlsing Poland House, Includln8 the Peddell Wing, at the appropri3te tlmes. The Poland Fund Is for the rellef of beneficlaries In need. hard5hlp or d15tre55. The Bulldlng Fund has been e5tabllshed to fund any local need5 housln8 whlch the charlty may provlde In the future. RestrFcted funds •re fvnds whlch have been 8fven for partlcular PUTpose5 and prolerts. The Peddell Fund was used wholly to provide the buildings known a5 the Peddell Wlnu of Poland Hcu5e. The Hilda Hill fvnd wos created with a capital Sum of £IO.000 by leBacy ol a formertenant and the Inccme ar51n8 15 lo be appliEd tD the impravernent, but not routine malntenance. of the garden5 of the property. The initial capital sum may not be spent. The endowment fund represents those a55ets whlch must be held permanentty by the charlty. prlnclpally land. buildin85 and investrnent5. Income ori5ing on the endowmert fund can be used In aEcordance with the cbjects of the charlty and Is Included as unrestrlrted income. Any capltal 8alns or losses arising on the Investments form part ol the fund. The cèphal reserve rep￿seNtS the orl8inal costs of the Trust's hou5in8 propertie5 net of grants recelved 16 THE POLAND TRUST Ntste5 to the acctyJntsfor the yearto 30th June 2025 15. Transactlons with tru5tee5 and r•faied partles None of the director5 of th* trustee have been pald any remuneration, expenses or received any other benefits from èn employment with the charity or a related entity. Durin8 the year Benjamin Barrett, son of A T Barrett la trustee during the yearl, was paid £5,93912024 £5,526) for 8ardenln8 servlces. 16, Toxatlon The charity Is emempt from tax on Income and 83ins falllng wlthln section SOS ol the T3Ke5 Act 1988 or section 256 of the Taxation of Capr(al Gains Act 1992 to the extent that these are appllÈd to Its £h3rltable objECts. No tax char8e5 have arisen in the year. 17. Flnondal cornmltments There have been no finènclal £ommltments entered Into durlng the year or after the year end. 18. Houslni Corpwatlon irAnts The tr3nsfer on merger with Brockham Housing Trust on 31st March 2024 Included Houslng Corporatlon gr3nts of £349,632 whlch were origlnally recelved against the original purchèse cost of the property and are released io Incorne over the terrn of the le35e. Other 8rants of £44,000 were received a8alnst the constructSon cost of two new unlt5 in 2017 and are releasèd to Income over the rem¥inln8 term of the lease, The freehold of the Trust's property Is held by 51dney Michael Poland Trustees Ltd, Realsiered No. 12178129 19. CAF B¥nk loan The charlty obtalned a £5W.000 loan facillty with CAF B8Thk, repayable over 20 yearsto flnance the development of Poland Meadow on whlch interest Is chargeable at 3% over the b15e rote. Drawdown ol E400,¢MO was rnade In July 2021 and £IOO,000 In December 2022. There are no performance related conditions attached tc the loan which will be repald from the contrlbLrtlons from the residents of the new developrnent. Thls loan Is secured on the tltle of Poland House, Kiln Lane. 8rockham, 8etchworth, RH3 7LZ. 20. R•con¢ill¥tlon of n•t mwement In fund$ to net ¢ash fflow from oyratlw •ctlvltl•s 2025 2024 Net movement in fund$ Grant from Mole Valley Dlstdrt Counc51 Qthei income Add back depreciatlon charge Deduct income shown in Investment artlvltles Decrease lincreasel In debtor5 IDcrease Idecreasel In creditors Increase Idecreasel In deferred Ilabllttles Net cash used Sn operating activities 5,513 5,422 17,142 15,747 16,6Q)I 52,451 115,1321 140.9491 33.594 30,355 1.888 21.907 4.088 17.1641 37,370 228.596 134.2271 182,814 17