The College of St Barnabas The College of St Barnabas Report of the Council for the year ended 31 August 2025 Contents Foreword by the Visitor Who's Who Members of the College Council Chairman's Prefa The College Vision 2026 and onwards Fundraising Review of the Year The College Chaplaincy Structure, Governance and Management Public Benefit 14 Statement of Trustees, Responsibilrties Financial Review 18 Report of the Independent Auditors Financial Statements for Year end 31 Augusl 2025 24 Investment summary 44 21 Who's Who (as ofmay 2026) Visitor Bishop of Southwark. the Right Reverend Christopher Chessun (ex-officio) Patrons Archbishop of Canterbury. The Most Reverend Sarah Mullally (ex-officio) Archbishop of York. The Most Reverend Stephen Cottrell (exv0ffic￿j Archbishop of Wales. The Most Reverend Cherry Vann (ex-oificio) Lord Lieutenant of Surrey. Mr Michael More-molyneux (eX-Off￿10) Right Reverend and Right Honourable Lord Williams of Oystermouth Reverend Les Isaac Founder of Street Pastors and Ecumenical Canon. Southwark Cathedral Bishop of Croydon Dean of Southwark The phrase. "I have lo change to stay the same- is usually attributed to the Dutch expressionist. Willem de Kooning. The last few years have seen considerable change in finan￿. govemance and criteria at the College of St Barnabas to ensure that it remains viable and true to its founding principles built on prayer and common life, so that a visitor from several years ago would find reassuring continuity should they return today, change notwithslanding. Right Reverend Rosemarie Mallett Very Reverend Mark Oakley Right Reverend Stephen Platten Right Reverend Martin Wamer Formerly Bishop of Wakefield Bishop of Chichester I welcome the Venerable Stephen Taylor in his first year as Chairman of Trustees and lament the passing of Dr Eileen Phillips in October. Members of Council This is my last foreword as Visitor to the College. and I give thanks for the blessing it has been for me to make quarterly visits. It has been my happy lot to meet a great cloud of witnesses and some remarkable characters these past 15 years, and I wish to put on record my admiration for the work undertaken by the Trustees supported so ably by Monty Erskine as CEO as well as the Chaplain and many dedicated staff. The fole of Visitor lo the College goes with the office of Bishop of Southwark and when I lay down my staff, the sharing in the life of the College will be one of the things for which I shall give thanks for the great blessing it has been. Venerable Stephen Taylor MBE {Chairmanl Appointed AGM 2025 Peter Beynon BA, CEng, MICE. ResKJned AGM 2025 Richard Diggory BA (Honsl. Resigned AGM 2026 Venerable Dr Geoffrey Dumbreck {Ex-officio} Alexandra Du￿ant FCA St Barnabas. as its dedication indicates. is a place of consolation. care and encouragement. 11 is a place of rest. prayer and study. It has always been so, and God willing. will remain so for many generations to come. Reverend W. Jane Edwards Cert. Ed. Dip Couns, BA (Hons), MA Dr Ursula HcKJges MA. PGCE, MBBS. Bsc {Hons). ResunedAGM 2026 Reverend David Ivorson MA (Oxon) Ruth Martin. Lay Canon, BA (Honsl. MA (Treasurer) Sally Martin BSC. SRN Dr Eileen Phillips MD. FRCP, MBBS. Bsc {Honsl, Phys Educator. Sadly passed away October 2025 RevereThJ lan Whitley Reverend David Williams JP. BA (Honsl. MA, Dip Lib. FSA. FRSA {Chairmanl Resigned AGM 2025 Eric Williamson MRICS. MCIOB The Right Reverend Christopher Chessun The Bishop of Southwark & Visitor for the College of St Barnabas Secretary to the Council Monty Erskine 8A. MBA. Msc Members of the Council Reverend lan Whitley was a poli￿ officer for 30 years in the Metropolitan Police Servi￿. After retirement in 2013. he spent four years as Parish Missioner at Al Saints Weston Green during which time he trained as an Ordained Pioneer at CMS and Ripon College Cuddesdon. He was ordained in 2017 and after serving his curacy at All Saints Banstead. he was appointed incumbent of the United Benefi￿ of Lingfield and Dormansland in 2021. Venerable Stephen Taylor began his ordained ministry in the Durham dI0￿se. Latterly being the Provost of Sunderland Minster before moving io be Archdeacon of Maidstone in the Canterbury Diocese. After a brief period of being Senior Chaplain to the Bishop of Dover and local Chaplain to the Archbishop. he became Canterbury's Di0￿san Secretary. He is a Commissioner at the Lansdowne Club in London and a trustee of a charity supporting the Diocese ofthe Rift Valley Tanzania. He also chairs the charity the European Christian Environmental Network. Eric Williamson is a retired Chartered Surveyor and Chartered Builder with over forty five years property development experien￿ gained on a variety of commercial and residential developments in the UK. Eric lives in Horsham where he is a member of St Mary's Church. He is married with three grown up sons and four young grandchildren. Venerable Geoffrey Dumbreck is Archdeacon of Reigate. The Archdeacon is aptM)inted by t Bishop of Southwark as an ex-officio member of the Council. Richard Diggory S￿nt his career in the financial ServI￿S sector, the majority of it at the Bank of England. In retirement he was for ten years a trustee at Burrswood Health and Wellbeing. His wrfe Sue was Vicar of Holy Trinity, Crockham Hill for seven years. and they now live in Gr￿Mbridge. Alexandra Durrant Alexandra Durranl is a chartered accountant. Until retirement she ran her practice in East Grinstead. providing audit, tax and accounting ServI￿S to clients. She now focuses her time on training and consultancy. Alexandra is a member of the parochial church council of St Swithun's Church East Grinstead and in April 2023 became treasurer for the church. She is a trustee for a number of local charities. Reverend Jane Edwards has Pemission to Officiate in Rochester Diocese, where she is Bishop's Advisor for Retired Clergy. having retired herself from full-time parish ministry in 2018. She is on Ihe Vocalions Team and offers Spiritual Accompaniment. She previously worked in counselling, supervision and teaching in a variety of settings including medical and educational. She is married to a retired GP. Dr. Eileen Phillips. a trustee since 2018. one time Chair ofthe Care & Welfare Committee and long- tem) supFx)rter and dedicated servant of the College passed away in October 2025 after a short illness. Dr. Ursula Hodges trained in anaeslhetics and was a lecturer with the University of London. She then worked as a school leader in secondary schools with responsibilities including sixth fomi progression into university education and increasing female participation in and uptake of STEM courses. She is a LI￿nsed Lay Minister at St Andrew's Church, Ham with roles on local. regional and national Church of England committees and charity trusteeships. Reverend David Ivorson's secular career was in finance. for many years at Commercial UnK)n. where he was Financial Controller. After taking early retirement in 2001. he was apwinted Bursar of Lady Margaret School. He was ordained in 2008. and Sin￿ 2011 he has been Chaplain ofwhittington College. Ruth Martin is a Lay Reader who retired as Diocesan Secretary in the Diocese of Southwark in September 2023, and as the Bishop of Southwark's part-time Lead for Strategic Development in August 2025. Her earlier career was primarily in the City. her last role there as Managing Director of the Chartered Institute of Securities and Investment. She chairs the Diocese of Soulhwark DAC {Diocesan Advisory Committee). Sally Martin is a retired nurse, having worked in burns and plastics, and district and practice nursing," and was deputy, then nursing manager of Burrswood Health and Wellbeing, taking particular interest in palliative care. She is churchwarden of the church of St. Peter and St. Paul. Lingfield. and a pastoral visitor. Chairman's Preface The College Vision - 2026 and onwards Our long-tem) vision for the College, set in 202213. sets out four areas of focus that continue to shape our development and objectives. While the four elements of the vision are not objectives in and of themselves. they are the lens though which we develop plans. The vision has four elements, each of which address a different facet of the College's life. We will honour and develop our founder Canon Cooper's original charitable purposes. understanding that while the circumstances that he found have changed. there are similar needs among potents'al resident groups that our charitable mandate impels us to address. In 2024125. as in previous years, we saw pressures on personal finances, and more potential residents whose financial resources were no longer able to support them. Getting word of the College out into the appropriate communities Idio￿seS. parishes. retirement teams etc) is now more important than ever as our a5sessfflent is thal this need will increase in the years ahead. I write this as my first preface to the College of St Barnabas's Annual Rewrt having tsken over from David Williams as Chair of the Council at the AGM in 2025. The College aspires to become expert at addressing ageing issues in a Christian environment. We aim to be a ￿ntre of learning. modelling this learning through our servI￿s. We provide holistic care in a safe environment, and the well-being of residents is our main con￿rn. Building on the Council's Vision There had been changes lo the governance struclure and the shaping of the College's Wision in 2022 and 2024 and it seemed sensible to consolidate these changes and begin to deliver on the identty of the College in regards to its care for resmjents across the campus. The Care Wing is already CQC registered and it seems lo the Council desirable that the cloister residen￿$ come under the same CQC umbrella. Progressing this ambition will shape 2026. Financial focus A financial review of the residents has given us a better understanding of our own financial forecasts as we look to keep our budget in balance, as well as looking out for the needs of the residents. In 2024125 we saw growing engagement with the local community and outside organisations, and our long-temi work to reenergise pre-covky netsvorks continued to bring results. We have a growing relationship with our local primary school who are now regular visitors during the year. We have seen a growth of resident-led activity and programmes, helped by having residents from a wider range of Christian backgrounds who bring new voices to the College. Our work to bring families into the life of the College continues, now celebrated annually at our June Residents and Stsff party. Creation care and stewardship are an integral part of our operalion. We do this because it is the right thing to do for reasons Ihat can be articulated in both spiritual and secular tenns. The implications of this objective are apprecialed by residents. staff. and stakeholders alike. Management and Governance The effective delivery of the College operation is dependent on a skilled staff team. Their efficiency and effectiveness falls under the auspices of the CEO Monty Erskine and his senior team. The upskilling of the senior management team to take more budgetary responsibility for Iheir areas of responsibility is having a positive impact in controlling costs while delivering excellent care and Se￿ices. In 2024125 we saw our Operations Manager, Eifjon Davies, filmed by Surrey County Council as an example of recycling tsest practice, the result of his and the residents and staff commitment to our new recycling agenda. We are beginning to work on the grounds. with plans afoot to reslore the College pond and bring the glasshouses and vegetable patch back into use. The truslees conduct monthly inspections of the staff. the Care Wing and other College residents ar)d they attend the monthly residents, meeting. The Care and Welfare committee have focused on the CQC'S assessment criteria for residential care homes and receive regular reports on the Care Wing and safeguarding issues. A project committ has been fomed to take on the more detailed delivery of the CQC criteria across the College. Our estate and buildings have value and are a viable base from whlch to develop our services. We seek lo develop and conserve whal we have with innovation and creativity, ever mindful of our residents, needs. As the four elements of the vision outlined atr•ve take shape they will feed into our plans for the buildings and eslate. However. before making changes to the building. we need to confinn whal's needed in order to provide the better services we have identified, and what those changes will look like if done in an environmentally responsible manner. This means that developing the building and estate comes last.. however. we can begin to sound out statutory and professional bodies. The Finance and Fundraising Committee has overseen the move to a better financial recording system and the Standing Committee's remit now includes risk managefflent. In conclusion The College is in good heart as it seeks to se(xJre a sustainable future amid an ever changing landscape. Meeting the vision, especially the buildings element. will involve a major capital fundraising campaign. and this will be a focLJS for the Council in 2025-6. Venerable Stephen Taylor Chairman Please get in touch with the CEO (chiefexecutive@collegeofstbamabas.cDml if you have questions about the vision or our plans. "At the AGM in 2025 David Williams stood down and Stephen Taylor joined the trustees as Chaimian. Fundraising Trust and PCC supporters 2024125 As ever, we are deeply indebted to our supporters. the private individuals. Church communities and trusts, foundations and other grant-fflaking bodies without whose help we would be unable to care for our residents. Thank you all. The Caterham Valley Parish Hall Co Ltd The Clergy Support Trust Holy Saviour West Croydon PCC Holy Trinity Crockham Hill PCC Declining supporter numbers and a dtfficult economic situation have made fundraising particulaF1y challenging during 2024125 with many of our private individual supporters telling us of their own financial struggles and their need to cut back on or completely stop their charitable giving. and this has also been reflected in recent times by the number of Church communities that are no longer able to help. The major challenge facing our charity's fundraising operation is the recruitment of new supporters. We are not alone in this.. these are difficulties that all charrties are currently facing. Nonetheless. we ran a moderately suc￿Ssful 2024 Christmas Appeal followed by a smaller 2025 Summer Appeal. We were greatly helped this year by ourmanyyears ofbehind-the-scenes hard work on legacy fundraising yielding a couple of significant results from fomier supporters who, having made provision for loved ones, had then taken the step of leaving a final gift to the College in Iheir will. It is lo be hoped thal more of our loyal private individual supporters will follow this example and mark their association with the College in this way although this is, of course. an intensely personal decision to take. The Ofenheim Charilable Trusl Kirkby Underwood PCC The Roy81 Chapel. Windsor Great Park The Rootes Charity Trust Awards for All The United Benefiee of Elland St Alban Great Ilford Trust St. Augustine's Bolton PCC Nias Wheauey Charitable Trust St. Benedict's Priory Alton Al)bey The Hospital Saturday Fund St. Clement Leigh PCC St. Giles Shipboume PCC St. James Ireby PCC St. James Newbold de Verdun PCC All Saints. Dingley PCC All Saints Braishfield PCC Our "Confident Community Computing. project, funded by the National Lottery's 'Awards for All" programme was completed this year. Initially working in partnership with the Tech Angels project from Surrey Coalition for Disabled People. Ihe project delivered over 40 group sessions, while Tech Angels went on to deliver tailored one-to-one training for a number of College residents. Sl. John the Baptist Royston PCC All Saints Chigwell Row PCC St John w St James & Sl Pa¢Jl Plumslead PCC Boxford PCC Si Lawrence Willinglon PCC St. Michael's Horton PCC We would like to thank everyone who has supported us over the year and to everyone who has responded to our appeals and requests for help. Thank you. We thank all those individuals, churches and grant-making trusts and bcx4ies who have supported the College and individual residents over the year. EX￿p1 for those b)dies who have asked not to be listed, our grant and church donors are listed below. Chaceley PCC Christ Church ChOr￿￿WOLYj PCC St. Mary s at Latton PCC Sl. Mary the Virgin & All Saints Potters Bar pcc Christ Church Walerloo PCC Christ Church Wallham Cross PCC Sl. Mary Winlerbourne Gunner PCC Cublinglon PCC Hever PCC Si. Michael & Al Angels Bunwell PCC Si. Michael & Al Angels Withyham PCC Sl Peter Hever PCC High8m wth Merston PCC Sl. Peter & Sl. PaLtI Edenbridge PCC 10 Review of the Year Tkne 2025 'VE80' celebrations marked 80 years since the end of WWIII, and we remembered and celebrated for the last official time, though the day will be remembered in years to come. During 2024125 the College both enjoyed a year of development and stability while at the same lime facing and managing considerable external financial headwinds. The occupancy rates in both the residential care wing and our almshouse flats were encouraging. and we enjoyed a sleady stream of trial visits afjd applications lo join the College. Vve ran our SLtmmer staff, residents and families BBQ in June, and this year several m￿mberS of the staff team upped the s2rtorial standards by coming In national dress. Our summer party is a relatively new initiative but has become an important fixture in the year where residents and their families can meet staff and their families for a day where the focus is on them rather than the public. We continued the work repairing and repainling the exterior of the College. along with replacing our external signage. This year we redecorated the Common Room, replacing ihe dull lighting and paintwork with a new decorative scheme that continued the theme from the Refectory and corridors. These works h3ve been made possible Ihroiigh the generosity of a long-term donor and have made a huge improvement lo the look and feel of the College, lor both existing and potential residenls. This work will continue next year and includes the replacement of chairs in the Common Room, thanks to the support of the Friends of the College of St Barnabas. The 'Friends have continued lo be a Viial resour￿ for residents, both via their financial generosity and their practical support of residents a: social events, visiting. and Iheif running of the weekly College shop. Residents set up and ran a range ofone-off and regular study and prayer programmes and meetings, helped by slam where requested, but usually as Independent small groups. Our regular range of weekly art and monlhly film, music and poetry meetings continued. and our fortnightly 'exiend' exercise classes were assessed and expanded to offer sessions for Care Wing residents as well as supported living residents_ The twice weekly taxi service was well supported, and Care Wing iesidents especially enjoyed their weekly visits from R05ie, our PAT dog. The College shop has continued lo operate each Monday supporting those residents who find getting out to the shops too difficult. The financial pressures [a￿d by the College were significant. and outside our control. The whole country fell the effect of rising costs and the College did not escape, with the biggest pressures wming from increased food and supplier prices. At the same lime we faced Increases in employer's national insurance rates and thresholds. As a Gharily the insistence by the goverr)ment that this should apply to charities was frustrating, given th31 the additional costs were coming out of income that included the donations of our many supporters. Nevertheless the College rose lo the challenge with iesidents being asked to make a mid-year contribution lop-up. and the staff team working lo find savings in our expenses. We now have a well-established monthly Residents. Meeting chaired by the CEO that looks at current College issues and gives residents a chance lo raise and discuss any subject they wish. These meetings are on the middle Wednesday of the month and are attended by a Council member who can speak on behalf of trustees_ We have been aware Ihat residents would like more aC￿sS to Irustees. and during the year we were able to publish a fuller list of all governance weetings so that residents know when trustees will be around the College. Alongside the monthly residents, meetings we rLJn monthly Iruslee inspections when a trustee will come inlo the College and speak lo residents 01 staff on a one-lo-one basis so that we can capture problems or feedback ané get ahead of issues. Our Creation Care agenda. a key plank of the College Vision {see p.8) was boosted during the year when we were asked by Surrey County Council to showcase the College's progress on sustainable procurement and recycling. This has been led by OLJr Operations Manager, Eifion Davies. and he was duly filmed talking through the inilialives he has implemented. Hollywood beckonsl Alongside the work on recycling and procurement, In 2025 another member of the Operations Team. Charlie Messenger look delivery of hundreds of saplings via the Surrey County Council .1.2 Million Trees. initiative. looking lo plant 1.2 million trees and hedgerow plants afound the county by 2030. While he ¢ovldn'l manage the whole 1 .2 rnillion, Charlie has replanted our northern boundary with hundreds oftfees and hedgerow plants, courtesy of the scheme_ Farewell and Welcome We gave thanks for the lives of the following residents who have passed away this year.. Alma Godfrey, Robin McDowall and Anne Bayley. Over the year we welcomed Margaret Holness. Margaret King. David Gilbert, Briafi Hackshall, Judith Mahatane, Leonard and Lynne Payne, Elaine Robson, Stuart Scott. Brenda Williams and Janet Wilson to the College. Resident Life College Chairnian The year started with our Open Day in early September, with a good lum-oul of the local communily, and a chance for visitors lo be given tours of the College and see what life is like for our residents. We are always surprised al how many locals tell us that they had no idea the College was here-, publicising our presence has advantages and disadvantages, on the one hand it is good for people to know we are here and an active part of the local s￿ne, on the other there is value in haying a degree of privacy given the nature of our community- This year we said farewell lo Chairman David Williams al the 2025 AGM and welcomed Stephen Taylor as the new Chairman. David has been a vital and tireless supporter of the College, and while much of his work has been behind the scenes his contribution and support has been vital In ensL4ring the College transilioned from a state of posl-covid shock lo a viable and growing institution looking ritmly forward5. Residents and staff had a chance lo say farewell and thank you to David during the year, and we are delighted Ih3t he will slay in touch via College membership. We now have a good relationship with Domansland Primary School, and we were delighted that during the year we had several visits froTn the children, mostly to sing, but also lo chat to residents. The noise level in the Commori Room goes up considerably when Ihey are here, and residents love the opportunily to chal. The College was pleased to welcome Stephen Taylor as the new Chairm3n. His arrival was delayed by a few months as he completed prior commilmeTrts. bul residents and staff have had a chance lo get to know him, and we look forward lo his guidance in the yeafs lo come. 12 Staff, mana9efflent and operations Structure, Governance and Management Function and Constitulion The year was relatively settled in terms of the staff team, with Amy Stolton settling in as our new HR Administrator and Safeguarding Officer. We have continued to look at ways of managing our staff costs while at the same time giving our brilliant staff team the sort of working environment that they deserve. One new initiative during the year was to offer Jny staff momber a local rail card. and we continued lo look at the range of In work benefits that we can offer. The College of St Barnabas was incorporated on 10th March 1899 as a company limited by guarantee nol having a share capital The liability of the Members of the Association on winding up is lirniled to £10. The Company is governed by its Memorandum of Association, which was last amended by Special Resolution on the April 25, 2022. and ils Articles of Association. Alongside the repair and refurt)ishment work highlighted earlier in this review the Estates Team has continued to upgrade rooms and flats across the College as they become vacant between occupants. This has been a significant ongoing task, and we are particulady grateful for the skills and application that John O'Ha13 has shown as he completes this work. The objects of the Charity are to provide a permanent home for clergy of the Church of England and of Churches in full communion with it. clergy spouses, licensed Church Wofkers and members of all churches which are merribers of Churches Together in England. In accordance with these objects there are sheltered flats for up lo 8 couples and 20 single or widowed residents, and 27 care rooms for Ihose requiring residential care. We are registered with the Care Quality Commission. The Care Wing Registered Manager Suzan Jack continued her work developing the Care Wing Team and ensuring that tK)Ih the residential Care Wing and the College as a whole mairTtained the h￿h standards we need in anticipation of OLJr next CQC inspection. During the year she continued to look aflei a range of residents with differing needs, working closely with our network of external support including the Lingfield surgery, the District Nurses our local ph8Fmacy and other professional. The activities of the Company are directed by the Council, the members of which, apart Irorn ils ex officio and delegate members. are elected by the Members of the Association. Applications for membership of the Association are approved al its Annual General Meeting., membership is limited lo 100. The Annual General Meeting is also the forum for the election and re- election of members of Council. Candidates must be members of the AsJocialion. One third of the elected members of the ￿oUnCil retire each year bul they are eligible for re-election. The College Chaplaincy The Chaplaincy operates at the College seven days per week, with the full time Chaplain, Rev Derek Chandler on site Sunday to Thursday inclusive. In the absence of the Chaplain, A Duty Chaplain is available each day and night via a mobile phone nurnber clearly displayed on the College noticeboards. Al Annual General Meelings, five members constitute a quorum. Questions al meetings of the Association are decided by a majonty of votes with the Chairman having a casting vote. The Council has authority to delegate any of its powers and duties to individual members or to any committee or sub-committee of members and lo set the quorum necessaiy for the transaction of busirless. Worship at the College of St Barnabas The Ch8plain has Continued to oversee worship at the College on a pattem of two services a day between the two chapels. These two services run alongside a schedule of prayer meetings, Songs of Praise and festival services. We have also been pleased to welcome Bishop Chiistopher lo evensong four times a year. Members of Council may not receive remuneration other than professional fees, which are subject to the restrictions contained in Clause 5 of the Memor3ndum, and reasonable out of pocket expenses. Governance and Oversight The Council meets r￿ularlY three limes a year and at other times as required. It has oversight across all aspects of the College'5 operation and exercises strategic direction of policy and resourTrs. In 2024-25, it met three limes. The Chaplain also serves as the Croydon EpisGopal Area Clergy Retirement Officer, and as well as providing a service to the Diocese this role allows the Chaplain. and so the College, to Ltnderstand the needs of retiring clergy. Programmes for Residents The Council delegates elements of oversight and decision-making lo commillees, accountable to Council_ Members of the cofftfflitlees are appointed by Council. They each meet three times 8 year and al other limes when necessary lapart from the Remuneration Committee which meets annually) and they report regularly to all meetings of the Council. The Council may from lime to lime establish ad hoc working groups to Dversee major projecls. which may be accountable to the Council directly or through its committees. During the year the Chaplain has continued to source and develop courses arid prograTnmes in direct support of our aim lo provide our Christian residents with an engaging and thought-provoking environment. These have included programmes under the heading of 'The Theology of Ageing., as well as Lent Creation Care courses. In 2024-2025 the committees comprised the Standing Committee. the Finance and Fundraising Committee. the Care and Welfare c(￿￿￿ttee and the Remuneration Committee. The Standing Committee has enhanced co-ordination between the Finance and Fundraising Cornmittee and the Care and Welfare Committee. 11 considers over-arching issues concerning governance and effective preparation for meetings of the Council. 11 consists of the Chairmen of the committees and Ihe Chairman and Vice-chaiiman of the Council, with the CEO in attendan￿. 13 14 The Finance and Fundraising Committee was created in 2023 as a merger between the Finan￿ arKI General Purposes Committee and the Fundraising and Marketing Cornmittee. The Cornmttte¢¥ has responsibility for all matters relating to finance, fundraising and marketing, property. fa¢ilit1es and general administration. It ensures that a suitable system of internal financial control is in place. and il prepares the budget, monitors income and expenditure and sets levels of authorisation. It also has oversight of the fundraising strategy and marketing plan, which includes ensuring we have a sound strategy to raise funds for specific appeals and encouraging regular giving to the work of the College. A specific focus is lo ensure we can assist those who live in Ihe College on limited means, wheTe there is a shortfall between social funding and the full cost of residence. The marketing function aims lo allracl new residents, through delivery of the College Marketing Plan. responsible for ensunng a consistency of risk measurement and evaluation across all aspects of the College Particular areas of risk are identified under categories expressed in Ihe Regulations for Service Providers and lthanagers under the Health arKI Social Care Act 2008 (Regulated Activities} Regulalions 2014. and Ihe Care Quality Commission (Registialion) Regulatioris 2009. Care and Welfare The Council membefship includes those wrth expertise and experience in the care sector who exercise effetrtive oversight. underpinned by robust policies. procedures and monitoring. Through the Care and Welfare Committee the Council ensures that policy and practice comply with the high standards of care expected by the Care Quality Commission. The Care and Welfare Committee has overseen matters rel81ing lo the care and welfare of residents. ensuring that appropriate policies and procedures are in place and that the standards of care satisfy Ihe expectations of the Care Quality Commission for residential Care Homes". it has sought to enable and maintain the best possible care for all residents. Safeguardtng The Remuneration Committee meets annually to consider the general level of salary increase appropriate lo all staff, and the specific remuneration of each member of the Senior Management Team. Its recommendatiofjs are submitted to the Council for approval. The trustees are aware of Ihe need to maintain highest >yStems 8nd standards with regard to safegtiarding. The College Safeguarding Policy is clearly sign-POSLed both online and around the building an($ is backed by procedures including tiaini?g for all staff. Amy Stolton is our designated Safeguarding lead. and the R>¥erend Jane Edwards is the trustee with responsibility for oversight of Safeguarding. Council membeis carry out Trustee Inspections, a random monthly inspection of one area of care and welfare using the Care Quality Commission fundamental standards as a guide. This process focuses on our standards of cotnpliance and service delivery. They involve private interviews with three residents of the Care Wing. Independent flats or staff, seeking their views on standards of care and working practices. The Inspection process also checks levels of Complian￿ via the care, heatlh and safely and Si8ff ing frameworks that we ha'ie in place. Council members also allend the fegLJlar monthly Residents. Meetings chaired by the CEO. These are an Important opportunity to communicate and inleiacl with residents, and also for residents to rneel and air concerns with trustees. Residents are made aware of all the times that IrL*Stees will be in the building so that there are ample opportunities to inlefacl_ Professional Advisors Investment Manager Charles Stanley and Co Ltd. Investments are overseen by the Ftnance and General Purposes Committee The investment summary for the year lo 31 August 2025 Is available on pp 44-45 of this report. Auditors Management Xeinadin Audit Limited, Charteied Accountants and Statutory Audilofs, Nightingale House, 46 - 48 East Street. Epsom. Surrey. United Kingdom. KT17 1 HQ The CEO Is responsible for the oversight of all day-to-day activities of the Charity and for ensuring that the objectives approved by the Council are followed The CEO Is supported by the Senior Leadership Team, consisting of the CEO, Registered Manager Suzan Jack and Operations Managef Eifion Davies. This group meets weekly and focuses on delivery ofthe College Vision and Objectives_ Bankers Barclays Bank. 10-12 The Martletts, Crawley. West Sussex, RH10 1 ES A staff management learn consisting of Department Heads and Operational and Support Team meets weekly lo oversee day ID day operations in the College This group consists of the Senior Leadership Team plus the Chaplain Reverend Derek Chandler. Fundraising Manager fvl.ike Herbert. Finance Manager Bernadette Jenkins, HR Administrator Amy Stotton and others as required. Capital Expenditure The Council en)ures that capital expenditure is pre-authorised within prescribed limits, and that capital investmen. 5s prtsdominantly resouiced from funds which are design8ied or otherwise raised for particular projects. General funds may only be used for capital projects when reserves leave suffinient funds to provide cover for cash-flow and other contingencies. The CEO attends all meetings ofthe Council and each of the committees, and members of staff attend meetings of the Council and the committees as appropriate. Risk Management The Council is responsible for the management of strategic, financial and operational risks faced by the College. During 2024-5. led by the Vice Chairman Richard Diggory, worf( started lo develop and implement a new risk management framework based around CQC standards. This framework builds on the College's existing risk management practice, through the staff team's responsibility for managing operational risks, overseen by individual Commillees. The Standing Committee is 15 16 Public Benefit Statement of Trustees, Responsibilities The Council confirms Ihat in carrying out its responsibilities as the College's trustee b(xJy. it has regard to public benefit guidance issued by the Charity Commission. Although the College was initially established as a community of retired Anglican pnests, the now broader criteria for eligibility means that, in addition to those who have worked for and wthin the Anglican Church. any communicant member of a Church affiliated to Churches Together in England can apply to benefit from the accommodation and service that the College provides. The tnjstees (who are also the directors of the College of St. Barnabas for the purposes of company law} are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practi￿). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources. including the income and expendilure. of the charitable company for that peri¢yJ. In preparing those financial statements, the trustees are required to.. The principal source of public benefit that the College delivers is that where f(s residents are unable to meet the full economic costs of the ServI￿S provided to them from their own reSoUr￿S andlor from grants they are eligible to re￿1Ve. the shortfall in their contributions is covered by the College. drawing for this purpose on its charitable income from various fundraising activities. The College's charitable income also helps to meet the substantial costs of maintaining its Grade 2 listed building. select suitable accounting policies and then apply them consistenuy. observe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent. prepare the financial statements on the going con￿rn basis until it is inappropriate to presume that the charitable company will continue in business. In the year to 31 August 2025 the total subsidy provided by the College in this way to supported living residents amounted to over £11,000 each month, equivalent, to over 150/0 of the total residents, contributions. The total support offered to SUPPOrted residential Care Wing residents, being the differen￿ between payments made by Surrey County Council and actual cost of care amounted to over £20,000 each month. The College does nol currently set a limit to the nurnber of residents vrt can benefil from this support. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregulartties. In addition. the College seeks to engage in local community events and a￿vaYS looks at ways of making its facilities more widely available, subject to the primary function of the &Ylege. The trustees confirm that. in the case of each person who was a trustee at the time when this report was approved. the following applies". So far as each trustee is aware, there is no relevant audit information needed by the charitable company's auditors in connection with preparing their report of which the auditors are unaware and. Each trustee has taken all the steps that he or she ought to have taken as a trusteeldirector in order to become aware of any relevant audit infomiation and to establish thal the auditors are aware of that information. Appmved by order of the Board of Trustees on 2U April 2026 and signed on its behalf by.. Venerable Stephen Taylor MBE Chair of truslees 17 18 Financial Review Future Plans and Challenges Having reviewed costs and set in hand annual reviews of finance for residents. together with a plan to research and develop a new service. Domiciliary Care, the College is cautiously optimistic in its finances. Cautious as the govemment policies on immigration. employment and the regulabon of the wide-ranging care sector all direclly impact on the college, where personal support and care is an essential seNice. In addrtion, local authority and other governmental funding of individuals is under strain. Summary. On behalf of trustees, l am pleased to say that the financial results for 2025 bear the fruit of the hard work by the CEO and his team to wntrol costs in a challenging economic environment. with close attention being paid to operats'onal budgets whilst ensuring continuing focus on quality supwrt and services to our residents. The aim was to achieve a balan￿d budget within 30A and this was achieved. We thank Monty Erskine CEO and his senior management team. In the year ahead we need to build on our strong operational finances and cost contfol and look to investment and growth. We anticipate growth in fundraising once the new website is developed with the new service planned in Domiciliary care. It was necessary to draw down some investments earlier in the year, but the cash balance held at the end of the year represents a successful operational year. By the end of the financial year, there was a net cash surplus, and the college is now able to plan the reinvestment of surplus monies. There will be renewed vigour in considering the best way to optimize the value of our property. The Lodge.. currently rented successfully to long term tenants. Trustees can have a very high level of Confiden￿ in the detailed accounts as during the year one of our trustees, Alexandra Durrant, who is an accountanl and audf(or herseff, was invrted by our CEO to work with the slaff team and go through our accounts in detail. which included a thorough review of aged debtors . The CEO and l are both pleased that this exercise, which together with testing a new form to help individual residents review their finances each year, is providing us wrth such a strong foundation for the year ahead. As the management of change continues, we will be challenged to ensure our senior team can both manage the existing operation and plan for the development of new iniliatwes and projects. Financial Results Summary. Total incoming reSoUr￿S were £2.403.098 {2024 was £2,403,889} and totsl extEndrture was £2,402,89412024, was £2,490,651). resulting in a surplus of income over expenditure. Ruth Martin. Lay Canon. BA (Honsj, MA Honorary Treasurer Contributions from residents were £1.933.14612024 £1.832.919), an increase of 5.470/0. Towards the end of the year the CEO and Treasurer held confidential interviews with some residents to test a way of annually reviewing residents, financial circumstan￿S and financial support needs. This was positively received by those residents and will become part of an annual review which will underpin residents, financial contributions. Donations, gifts and legacies in 2025 were very similar to the previous year at £411.522 {2024. £412.0741. The new fundraising strategy is expected to be launched once trustees revise the vision and strategy for the college of St Barnabas, in the light of the Council's support to increase focus on CQC regulation. This goes beyond our current Almshouse registration, and longer lemi will embrace Domiciliary Care as an additional service, as well as the existing cafe for residents in our Care Wing. The consequential changes will shape our website and fundraising strategy. We thank Mike Herbert for all his considerable success as our fundraising lead, not least in seeing the fruition of his careful. long-term work on legacies. Property Assets. The College also continues to receive rent from its property, The Lodge. and it is ant￿Ipated that decisions about how we can make best use of this asset in the short and long temi will be a focus during the 202512026 year. Investments and Reserves. During the early part of the year the College had to draw down investments, bul the operational changes to improve resilience and rigouf led to a stronger position on cash as the year ended. It is expected that surplus monies will be invested 202512026 which will increase the investments held during 2026. Investments are managed through Charles Stanley and Co. under delegated authorty from Council. 19 20 Independent Auditor's Report to the Members of the College of St Barnabas Opinion Independent Auditor's Report to the Members of the College of St Barnabas Opinions on other matters prescribed by the Companies Act 2006 We have audited the financial statemenls of The College of St Barnabas (the College'l lor the year ended 31 August 2025 which Gomprise the statement of finafjcial activities. the balance sheet. the statement of cash Ilovis and notes to the financial slatemenls, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financi81 Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounting Praclicel- In our opinion, the financial statements= In our opinion. based on the work undertaken in the course of our audit- the information given in the Council members report for the financial year for which the financial statemerits are prepared. which includes the directors, report prepared for the purposes of company law, is consistent with the fin3ncial statements,. arKI the directors, report included within the Council members report has been prepared In accordance with applicable legal requirements. give a true and fair view of the slate of the charitable company's affairs as al 31 August 2025 and of ils incoming fesources and application of resources, including tts income and expenditure, for the year then erpded., have been properly prepared in accordance with United Kingdom Geneially A¢￿pted Accounting Practice-, and have been prepared in accordance witb. the requirements of the Companies Act 2006. Matters on which we are required to report by exception In the light of the knowledge and understanding of the College and its environment obtained in the course of thp audit, we have not identified material misstatements in the directors, report included within Ihe Council members report. We have nothing to report in respect of the following matters in relation to which the Companies Acl 2006 iequires us lo retx)rt lo you if, in our opinion.. Basis for opinion adequate 8ccounting records have not been kept, or returns adequate for our audit have not been received from branches riot visited by us.. or the financial slalemenls are not in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit.. or the Council were not entitled to prepare the financial slalefllents in accordance with the small companies, regime and take advantage of the small companies, exemptions in preparing the Council members report and from the requirement to prepare a strategic report. Responsibilities of Council We conducted our audrt in accordance with International Standards on Audrting (UK) IISAS (UKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial st8teiTents section of our report. We are independent of the College in accordance with the ethical requirements tb,at are relevant to OL>r audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe the audit eviden￿ we have obtained is sufficient and appropriate to provide a basis for our opinion_ Conclusions relating to 90ing concern In auditing the financial slalements, we have concluded that the Council members, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. As explained more fully in the slalemenl of Council members responsibilities, the Council. who are also the directors of the College for the purpose of company law. are responsible for the preparation of the financial statempnts and for being satisfied that they give a true and fair view, and for such internal control as Ihe Council detemine is necessary lo en8ble the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the Council are responsible for assessing the College's ability lo continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the CoLtncil either intend to liquidate the charitable company or lo cease operations. or have no realistic alternative but to do so. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that. individually or collectively. may cast significant doubl on the College's ability lo continue as a going concern for a period of al least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Council wi4h respect to going concem are described in the relevaffll sections of this report. Other information The other ioformation comprises Ihe information included in the annual report other than the financial statements and our audilovs report thereon. The Council are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the exlenl otherwise explicit5y slated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so, consider whether the other information is malerially inconsistent with the financial statements. or our koowledge obtained In the course of the audit, or otherwise appears to be materially misstated. If we identify such maleiial inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a material misstatemenl in the financial statements themselves. Sf, based on the work we have performed, we conclude that there is a malerial misstatement ol this other information, we musl report that fact. We have nothing to report in this regard. Auditor's responsibilities for the audit of the financial stslements Our objectives are to obtain reasonable assurantr about whether Ihe financial statemefflls as a whole are free from material misstatement. whether due lo Iraud or error, and lo issue an auditor's report that includes our opiTrion. Reasonable assurance is a high level of assurance but Is not a guarantee Ihal an aLEdil conducted in accordance wrth ISAS (UKI will always detect 8 material misslatemenl when it exists. Misstatements can arise from fraud or ertol and 8re considered material if, individually 01 ir) the 2ggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent lo which our procedures are capable of detecting iTregLJlarities, including fraud, is detailed below. 21 22 Independenl Auditor's Report to the Members of the College of St Barnabas Identify and assess the risk of material misstatement of the financial stalements, whether due lo fraud or error, design and perform audit procedures responsive lo those risks. and obtain audit evidence Ihal is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material mis51atemenl iesuliing from fraud is higher than for one resuliing from error. as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control. Obtain an understanding of internal control relevant to the audit to design audit proceduies that are appropriate in the circumstances, but not for the purwse of expressing an opinion on the effectiveness of the company'> internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and the related disclosures made by the directors. Conclude on the appropriateness of the directors, use of the going COn￿M basis of accounting and. based on the audit evidence obtained. whether a material uncertainty exisis related to events or conditions that may cast significant doubt on the company's ability lo continue as a going concern. If we conclude that material uncertainty exists, we are required to draw attention. in our auditor's report, to the related disclosure in the financial statements or if such disclosures are inadequate lo modify our opinion. Our conc5usions are based on the audit evidence obtained up to the date of our auditols report. STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2025 Unrestricted Restricted funds funds 2025 2Q25 Totsl Uniostricted Restricted funds funds 2024 2024 Total 2025 2024 Notes Income from- Donations 3nd legacies Charitable aGtiyitie Contr%butioTrs by Residents lor accommodation and care 389.095 22.427 411.522 376,647 35,427 412.074 1.933.146 1,933.146 1,832,919 1.832.919 Other tfading activthes Investments 51.9)7 6.523 51,907 6.523 150,207 8,$89 150,207 8,689 Total income 2.380,671 22.427 2,41)3.098 2,368 462 35,427 2,403,889 Expenditure on: R8ising funds Ghafitable 3cliviliès vare costs Colle9iate 68,419 8.827 77.246 75,970 7,033 9ll,003 However, future events or conditions may cause Ihe company to cease lo continue as a going concern. 989.109 1.317.773 17.006 1.760 1.006,115 1.319,533 1.070 305 1.324,351 6.795 6,197 1,077, 100 1,330.548 Evaluate the overall presentation, structure and Gontent of the financial statements. including the disclosures, 8nd whether the financial statements represent Ihe underlying transactions and events in a manner that achieves fair presentation. Total charitable expendTrture 2.306,882 18,766 2.325,648 2.394,656 12,992 2,407.648 A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.Ilwww.frc.org.uklauditorsresponsibililies. This description forms part of OUT auditorf5 report. Total expenditure 2.375,301 27.593 2,402.894 2.470.626 20,025 2,490,651 Use of our report Net gaIn￿{lO$SeSI on Ertrvestmenis 16,7211 16,7211 21.567 21,587 This report is made solely lo the charitable company's members, as a ￿rtY.. in accordance wilh Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable Company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit Wofk, for this report. or for the opinions we have form￿. Net expenditure Tr￿$fets between tunds 11.3511 15,1661 16,5171 180.5971 165.1951 973 973 136,833 136,833 Net rnovement in lunds 10 13781 16.1391 16,5171 56,236 1121.4311 165 1951 Reconciliation of funds: Fund balances ai 1 Sept 2024 2.464.8 14,735 2.479.535 2,408,564 136.166 2,544.730 Hazel D&y BS¢ (Hons) FCA DChA Senior Statutory Auditor For Bnd on behaK of Xeinadin Audit Limited. Statulory Auditor Chartered Accountants 46-48 East Street Epsom. Surrey KT17 IHQ United Kingdom Fund balances at 31 Aug 2025 2.464 422 8. 596 2.473,018 2,464,800 14.735 2.479,535 The slatement of financial activities includes all gains and losses recDgnised in the year. All income and expenditure derive trom continuing Jcltvities. The notes on pages 27 to 43 form part of these financial statements. Date... 23 24 BALANCE SHEET ASA T31 AUGUST2025 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 A UGUST 2025 2025 2024 Notes 2025 2024 F4xed assets Tangibl¢ as*ts Investrnenls Notes 14 15 2.105.163 184.976 2.209.770 259 498 Cash fiows from operating activities Cash generated fromllabsorbed by) operalions Interest paid 27 2,2￿.739 2.469.268 76.971 13.2411 110.5181 13,1951 Current asset5 Stocks Oebto Cash al bank and in hand 16 17 7,643 120.313 182.337 7.679 103.971 55.730 Investing activities Purchase ol tangible fixed assets Proceeds tfom disposal of Investmellls Inleresl ￿￿1¥ed 11.8451 65,000 222 141,7801 310,293 167.380 264 CYeditors= amounts falling due within one year 19 1127,1641 1145.3631 Net cash generated fromllused inl investing actr"vFtÉÈs 63.377 141,5161 Net currenl assets 183,129 21.017 Total assels less Gurrent14abilities Financing activities Repayment of bank loans 2 473.268 2.490.285 110,5001 110.5001 Credilors.. amounts falling due after more than one year 12501 110.7501 Net cash used in financing acti¥ilies 110,5001 110,5001 Net assess 2.473.018 2 479.534 Net increaselldecreasel in ush and cash equivalents 126.607 165.7291 121.459 The fund5 of the College Reslricted incc>me funds Unrestricted funds Cash and cash equivalents at beginning of y2ai 55,730 22 23 8,596 2,464,422 14.735 2.484,800 Cash and cash equivalents at end of year 182,337 55.730 2,473.018 2.479 535 The noles on pages 27 to 43 foffti part of these financial statemen¢s. The financial slalemenls were approved by the Council on Ve erable Sleph Chair of trustees n T8ylor. M8E Company registration number 00061253 (England and Wales) The noE&s on pag&s 37 10 43 forffl part of these fvnancial statefnerrts. 25 26 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 (continued) Accounting policies Income from events is recognised when the event takes place. Charity information The College of St Baraabas is a private company limiled by guaianlee incorporated in England and Wales. The registered offi¢e is Blackberry Lane. Lingfielcl. Surrey. RH7 6NJ. United Kingdom. Income from rental is recognised for the period the rental relates lo. Income from residenls is recogn*sed in Ihe Statement of Financial Activities based on the dales of occupancy. 1.1 Accounting convention The financial slalemenls have been prepared in accordance with the College'5 governing document. the Companies Acl 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP Accounting and Reporting by Charitses. Slalemenl of Recommended Practice applicable lo ¢h3rilies preparing Iheif accounts in accordance with the Financial Repo￿"ng Standard applicable in the UK and Republic of Ireland IFRS 1021- The College is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling. which is the funCt￿n31 currency of the College Monetary mounts in these financial slaletnenls are rounded lo the nearest £. Events income is recognised once l*e event has taken place unless the income is non-returnable. 1.5 Expenditure Expendiluie is recogntsed once there is a legal or constructive obligation to transfer economic benefit lo a third party, st is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expendilure is classified by activity. The costs of each activity are made up of the lolal ol direct costs and shared ¢osls. including support costs involved in undertaking each activity. Direct costs attributable lo single activity ale allocated dire¢lly to that activity. Shared costs which conlribJle lo more Ihan one activity aad support costs which are not attributable lo a single a¢livity are apportioned between those activities on a basis consislenlwith the LFse of resources. Central s13ff costs 31e allocated on the basis of lime spent, and depreciation Charges are allocated on the portion of Ihe asset's use. Direct costs 3re allocated based on the nature of the cost Any costs relating lo more than one charitable acb.vity are split equally between the activities as this is believed to best represent the nature ol these cosls. The financial statements havg been p¥epared under the historical cost convention, m(xJified lo include the revaluation of investments. The principal accounting policies adopled are set out below. 1.2 Going concem At Ihe lime of approving the financial slalemenls. the Council have a reasonable expectait.on that the College has adequate resources lo continue in operational exislence for the foreseeable future. Thus, tlie Council continue lo adopt the going concern basis of accounb.ng In preparing the fin8nci81 slalemenls. 1.6 Tangible fixed asset5 Tangible fixed asseis 3re initially measured at cost and subsequently measured at C051 or valuation, nel of depreciation and ariy ifflpairment losses. Depre￿atIon Is recognised so as lo write off the cost or valuation of assets less their residual value5 over their usefvl lives on the following bases". Freehold property 1% on cost Refurbishments 25Q/o on cost and 5,/0 on cost Equipment 17.5°/o on Cost Computers 25 % on cost The ga*n or loss ai¥sing on the disposal of an asset is determined as the difference between the sale proceeds afid the Garyying value of the asset and Is recognised in the statement of financial activities. 1.3 Charitable funds Unreslricled funds are available for use al the dis¢relion of the Council in furtherance of their charitable objectives. Vvhen fesources ale received by the College for a donor specified purpose or as a result ol an appeal for particular project funding, the income is shown in ihe slalemenl of linancial activities as reslricled income and attribuled lo a specific restricted fund. Application of those resources in accordance with the donors, wishes is shown as restricted fund expenditure with the balance of unexpended resources shown as reslricled funds on the balance sheet. Fixed assets purchased from reslflcted funding are capitalised and depreciated over their expected Lt5eful lives. The depreciation applicable lo the funding provided fvom the reslricled fund is charged lo that fund. The nel book value of such assets is held within restn¢led funds. Where such funds are raised or donated lo be held as capital assets by the College, these are shown as reslricled funds whilst the (Trcome from the appeal ¢onlinues. Endowmenl funds are subject lo spettific conditions by donoTS th81 the caprtal musl be maintained by the College. In the opinion of the Council, the net Tealisable value of the property is not materially in ex￿5$ of ils carrying value in the accounts and therefore no impairment has taken place Depreciation would not normally be provided on land", however, Ihe original cost of the land is ijnknown although il is believed lo be immaterial lo the lotal carrying ¢osl of land and buildings. The land element in Ihat cost has therefore been ignored lor depreciation PUTposes. 1.4 Income Incorlle is recogni5ed when the College 15 I￿allY enb.tled lo il after any perfo¥man¢e conditions have been mel, the amounts can be measured reliably. and it is probable Ihal income will be received. As5els cosling less Ihan £500 are not capilalised but are expensed Ihrough the Slalement of Financial Aclivities. Cash donations are recognised on re￿ipl. Other donations are recognised once the College has been nolilied of the donation. unless perfomance condilions require deferTal of the amount Income tax recoverable in relation lo donat10ns received under Gift Aid or deeds of covenant is iecognised al the lime of the donation. 1.7 Fixed asset investments Fixed asset inve51menis are initially measured at trans8cb.on price excluding transaction cTrsls and are subsequently measured al fair value al each reporting dale. Changes in fair value are recognised in nel in￿me/(eXperIditUreI for the year_ Transaction costs are expensed as incurred. Legacies are recognised on receipl or otherwise if the College has been notified of an impending dislribulion. the amount is known. and receipt is expected. If the amount is not known. the legacy is treated as a Conti￿gent asset. 27 28 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 1.8 Impairment of fixed assets Al each reporting end dale. the Collège reviews the carrying amounts of ils tangible assets to determine whether there is any indication that those assels have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is eslimaled in order to determine the exlenl of the impaiimenl Ios5 lif any}. 1.12 Employee beneffts The cost of any unused holiday entitlement is recogllised In the peiiod in which Ihe employee's services are received. Tem)ination benefits are recognised irnmediately as an expense when the College is demonsliably committed to lemiinate the employment of an employee or lo provide lerminalion benefits 1.9 Stocks Stocks are stated al the lower of cost and eslimaled selling pri￿ less costs to complete and sell. Cosl ¢omprises direct materials and, where applicable, difecl18bour costs and those overheads that have been incurred in bringing the stocks lo their present location and condition Items held for distribution at no or nominal consideration are measured the lower of repla￿ment cost and cost. 1.13 Retirement benefits Paymenis lo defined contribution retirernenl benefit schemes are charged as an expense as they fall due. Critical accounting estimate5 and judgements In Ihe application of the College's accounting policies, the Council are required lo make judgetnents, estimates and assumptions about the carrying 8mounl of assets and liabilities that are not readily apparent from other SoUr￿s. The estimates and associated assurnptions are based on histori￿1 experience other factors that ale considered lo be relevant. Aclu31 results may differ from these eslitnales. Nel realisable value is the eslTrmaled selling price less all estimated costs of completion and costs lo be incurred In maTkelin9. selling and di51ribulion. 1.10 Cash and ¢ash equivalents Cash and cash equivalents include ¢ash in hand, deposits held at call with barlks, other short-term liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. The estifflales and undedying assumptions are reviewed on an ongoing ba51s. Revisions lo accounting eslimales are rec(￿nISed in the period in which the eslimale is ievised where the revision affects only that period. or ill the pertod of the revision and future periods where the revision affects both current and future periods_ 1.11 Financlal Instruments The College has elected lo apply the provisions of Section 11 'Basic FinancÈal Instruments, and Section 12 '01her Financial Inslrumenls Issue5. of FRS 102 to all of ils financial instruments Criti¢al judgements Depre¢Satlon Assels are written down over their estimated useful lives. The actual livès of the assets may differ from these estifflates. The lives of the assets are kept under review and adjusted as appropriate Financial Instruments are fecognised in Ihe College's balance sheel when Ihe College b￿QMe$ party to Ihe conlraclual provisions ol the inslrumenl. Financial assets and liabilities are offset. with the nel amounts presenled in ihe financial statements. when there is a legally enforceable right to set off the recognised amounts and there is an intention lo sellle on a net basis or lo realise the asset and sellle the liabÉlity simultaneously. Allocation of costs between activities As a small Charity many costs incurred. in¢luding staff lime. cover more than one 8clivily. These costs are allocated lo activities based on att equal split which is based on the best estimate of the usage of the C051s. 8a5iG financial assets Basi¢ financial assets. which include debtors and c8sh and bank balances. are initially measured al transaction price Including transaction costs and are subsequently carried at amortised ￿$t uslng the effective interest melhod unless the arrangement conslilules a financing transaction, where the transaction is measured at the present value of the future feceipls discounted al a market rale of interest_ Financial assets classified as reTrivable within one year are not amortised. Income from donations and legacies Unrestricted Restricted funds fund5 2025 202S Totsl Unrestricted Restricted funds funds 2024 2024 Total Basic financial liabilities Basic financial liabilities, including creditors and bank 103ns are initially recognised al transaction price unless the arrangement constslules a financing Iransaclion. where the debt instrument is measured at the present value of the future payments, discounted at a market rate of inleresl. Financial liabilities classified as payable within one year are not amortised. 2025 2024 1.000 Donations and gtfts Legacies Grants 150.560 150,560 130,921 266.173 266.173 130.921 80,967 29,507 80,967 64,934 Debt instruments are subsequently carried al amortised cost, using the effective interest rate rnelhod. 107.614 21.427 129,041 35,427 Trade creditors are obligations to pay for goods oi services Ihal have been acquired in the ordinary Course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not. they 2re presented as non-currenl liabilities. Trade Creditors are recognised inrtially al Iransa¢lion price and subsequently measured al amortised cost usiag the effeclive interesl method. Derecognition of financial liabilifies Financial liabilities are derecognised when the College'5 conlraclual obligations expire 01 are discharged or c8ncelled. 389,095 22,427 411,522 376.647 35,427 412.074 29 30 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Income from charitable activities Expenditure on rarsing funds Unrestricted Unrestricted funds funds 2025 2024 Unrestricted Restricted funts funds 2025 2025 Total Unrèstrict8d Restricted frjnds funds 2024 2024 Total 2025 2024 FurEdratsing and publicity Othei fundiaising Costs Staff Gosts 4,691 61.098 4.691 69,925 13,125 0,368 13.125 67.401 Conlribulions by Residents lor 3ccommodation and care 1,933.146 1.832.919 8.827 7,033 65.789 8.827 74.616 73,493 7,033 8Q,526 In¢ome from other trading activities Investment manageryEnl 2.630 2,630 2,477 2,477 Unfestficted Unrestricted funds funds 2025 2024 Total Gosts 68.419 8.827 77,246 75,970 7,033 83,003 Expenditure on charitable activities Telephone mast Income Staff rental Income Lodge rental 90.849 22.100 37,258 Care costs 2025 Collegiate 2025 Total 2025 Care costs Collegiatè 2024 2024 Total 2024 14422 37,485 Direct costs Staff costs Depreciation and impaimErrt Other ￿re costs Prem*ses costs Housekeeping costs Sunity Other trading activities 51,907 150,207 664.670 608.650 1,273.320 672.485 602,801 1.275.286 53.225 71.501 53.225 106,450 71.501 296.634 144,3(14 52,919 137,844 598 52,921 105.B40 137,844 296.9fj9 164.765 486 Income from investments 296.634 144.304 296,321 164.765 486 Unrestricted Unrestricted funds funds 2025 2024 789.396 1,102,813 1.892.209 863.846 7,117.294 1,981,140 Income frorn listed investments Interest receivable 6,472 51 8.361 328 Share of support and governan¢e costs (see note 91 Svpport 199.800 199.800 Governan 16.919 16,920 399.600 33,839 196.271 16,983 196,271 16,983 392,542 33,966 6.523 8.689 1.006.115 1,319,i33 2,325.648 1.077,100 1.330,548 2,407,648 Analysis by fund Unreslricted funds Resliicled lur*ds 989.109 77.006 1.317.773 1.760 2,3fJ6 882 18.766 1.070,305 6.795 1,324,351 6,197 2,394,856 12,992 1.006.115 1,319,533 2.325,648 1.077,100 1.330,548 2,407.648 31 32 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Support costs allocated to activities 2025 2024 11 Employees Icontinuedl Employment costs 2025 2024 Staff Gosls Advertising Bank loan Interest Bank charges Training Bad debts Recruitment Office costs Govern4n¢e costs 292,828 2.967 333 3,241 1.520 288.606 8.214 Wages and salanes Social S￿Curity Costs Other pension cosÈ 1,441,266 138.814 55,991 1,453,756 129,682 47.855 3.195 4.113 11.795} 1,702 88.W7 33 4,345 94.366 33,839 1.636,071 1.631,293 The number ol employees whose annual iemuneralion was more than £60.000 is as foblows". 43?,439 426,508 2025 Number 2024 Number Analysed between.. C8re costs Colle9iale 216,719 216,720 213,254 213.254 60.000-70,000 433,439 26.>O8 Remuneration of key management personnel The remuneration of key management personnel was as follows.. 10 Nel movement in funds 2025 2024 2025 2024 The net movement in fund5 15 stated after chargingllcreditingl. Aggregate cornpensation 346,980 350,3f4 Fees payable lor the audit of Ihe charity's financial statements Depreciation of owned tangible fixed assets 10.086 106,452 105.840 12 Gains and losses on investments 11 Employees Unrestricted Unrestricted funds funds 2025 2024 The a¥er&ge monthly number of employees during the year was". 2025 Number 2024 Number Gainsl{losses) arising on". Revaluation of investrnenls S31e of investments 13371 16,3841 15.065 6,502 Staff directly involved In delivering services Fundraising CEO Adminislralion 67 16.7211 21,567 To131 75 80 13 Taxation The charity is exempl from taxation on its activities because a15 ils income is applied for ch8rilable purposes. 33 34 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 14 Tangible fixed assets 15 Fixed asset investments Icontinuedl 2024 7.785 9.976 6,695 8,671 6.685 11,422 7,433 7.751 6.523 10,042 6.312 8.249 5,148 9.235 10,484 11,777 5.769 7,450 7.921 6,286 7,674 6.133 7,140 5.871 6.366 6,488 6.585 6.926 ,249 6.687 6,449 Freehold RefurtMshmwEt property Eq¥ipment Cornpuler Totsl 2025 Lionlrust Investmefils Ltd fvlonthly Income bond 31 Infiastructure Ord NPV Roche Holdings AG Genusstheine NPV The Renewables Infrasiructure GRP Ord NPV First Sentier Invrs IUKI FDS Ltd Firsl Senlier GBL Listed Infra 8 GSP Inc icrosoft Corp Com USDO O(yJ 313 259 498 35 36 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 17 Debtors 2025 21 Retirement benefit schemes 2024 Icontlnuedl Amounts falling due w6thin one year.. The Ch311ty has no funded pension schefne. bul employees are members of either the Pension Builder Scheme section of the Church Worker Pension Of the NEST auto enrolmenl scheme. Tr2de debtors Other debtors Piepayments and accruèd In¢orne 47.562 1.945 70.706 10.301 3.897 89.773 Members who either josned the scheme prior lo 1st July 2014 and some members ol the senior management leam are members of the Church Wlorker Pension Fund. The College contribtrtes at the rale of 10.10 of members, salaries for those who joined before 1st SepÈeniber 2000. The College contributes 8 /0 ol members, salaries for members of the Church Workers Pension Fund who joined aftei 1st September 2000. and employees make contributions of 401.. 120,713 103,971 Loans anfl overdrafts 2025 2024 Pension contr:.butions are recorded in an account for each member. This account may have bonuses added by the Board before reliremenl. The bonuses depend on investment experience and other factors. There is no requirement lor Ihe Board lo grant any bonuses The account, plus any bonuses declared, is payable from ￿emberS, normal pension age. Bank loans 10.750 21.250 There is no sub-division of assets betwtsen employers in each section of the Pension Builder Scheme The scheme is a multi-employer scheme as described in Section 28 01 kRS 102. This means it is not possible lo attribute the Pension Builders Scheme's assets and112bilities lo spe¢,fic employers and that contributions are accounted for as If the Scheme were a def1ned contribution scheme. The pensions Costs charged lo the SOFA in the year are contributions payable Payable within one year Payable after one year 10.500 lo.￿0 10.750 Thè loan relates to a loan taken out In the year ended 31sl August 2017 for a term of 10 years from Ihe Nalional Almshouse Asst)cialion which is SeCu￿d on the fr*hold Pfemi5es. The loan attracis an ￿u1valent nterest rate of 1 O/D p.a A valuatson of rhe scheme is carried out every three yegrs The moot recent scheme valuation completed was carried out as at 31st December 2022 This re¥e3led. on the ongoing assumptions used. the fund is str,cwing a surplus ol assets over li8bilrfties. There is therefore no requirement lor deficit payments al the cljrrenl Iirne. The legal structure of the scheme is such that, if another Responsible Body fails, College of Sl Barnabas could become responsible for paying a share ol th31 Responsible Body's pension I￿abilIties. 19 Creditors= amounts falling due within one year 2025 2024 Notès Bank loans Other taxation and social security Trade Gredilois Other tredilors A¢¢ru3ls and dèleried in¢om¢ 18 10,5(M) 27.221 33.325 10.500 32 795 28.899 6.097 68.072 Employees who are not parl of the senior management team and join a pension scheme after 1 sr July 2014 afe enrolled inlo the NEST scheme with the College making conlributions of 3°/0 of the members, salary and the employee contributing a minimum o15°/o. Al 31 Augtjst 2025 amunls owng lo the schemes and included within other creditors amounteé lo £9.44912024." £6531. Total conliibutions paid in the year lo defined contribution schemes amounted lo £46.18612a24 £44:2081. 56.118 127.161 146,363 20 Creditors.. amounts falling due after more than one year 2025 2024 Notes Bank loans 18 250 10.750 21 RE*iremènt benelit schemes 2025 2024 Defined contribution schemes Charge to profit or loss in respÈ¢t of definèd contribution schemès 55.991 37 38 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 22 Restricted funds 22 Restricted fvnds (Continuedl The iestricted funds of the charity comprise the unexpended balan￿$ of donations and grants held on trust subject to specific conditions by donors as to how they may be used. Transfers belween funds represent. Transfer from individual restricted funds of a capital nature to general unreslricled fund, being esseTrtlBlly capita5 expenditure in the year on specific piojecls. Future boiler repl3￿ment fltnds were Initially transferred from the general fund lo reslricled funds in a piioi penod. The project is complete and the balance has now been transferred back to general fuods Walsingham Pilgrimage look place in 2018, the balance brought lopNard shotjld have be*n allocaled against c051s in previous periods with confirmalioo that the full balance has been spent. Ihèrefoie transferring the balan￿ back lo the gener31 fund. All other transfers from geneial lo reslricled f￿ndS represents an overspends on resliicled projects with the shortfall being covnred by general funds. A11 Septetnber 2024 Re5uurces expended Transf8FS At 31 August 2025 ¥esour¢es Walsingham Pilgrimage Cafe wing laundry Confident community computing Ch3pel Lighting fund Future boiler replacement Green agenda Prayer Pa¥illion Care Wing Equipment Loop hearing system De8fguaid fire alarm project LAP IT project Staff Laptops 3,284 3,094 13.2841 19,427 121.2201 1.793 2,305 1,750 2.305 Designated Fund5 11.7501 {1,2881 The Tangible Fixed Assets fund has been created lo cover the vaStJe ol those assets 3,000 2.0( I.0￿) (2,5951 18031 15181 13361 18331 595 Underfunded Contributions. The Council approved the eslablishnienl of an additional designated Underfunded Contributions Fund towards the shortfall of contributions in respect of residents who are State funded. During the year the trustee5 decided this was no longei appropriate and released these funds lo the unreslricled fund. 197 402 116 Restricted Funds.. 14.735 22.427 127.5931 19731 8,596 Walsingharn Pilgrimage compr15e5 ￿oneY spec1fically for the annual trip to Walsingham. Previous year- At1 SÈptÈmber ResTruTEes expended Transfers At 31 Au9USt 2Q24 Care wing laundry comprises of lunds received towards the maintenance of the washing machine to proV￿e C￿aTr linens to residents. resource 2023 Underfunded contributions comprise funds received towards the shortfall of contributions in respect of residents who are state funded. Walsingham PilgrimagA Nursing wing laundry Undorfunded Contributions Chapel Lighting fund Future boiler replacement Gro¢n ¥gend¥ Prayer Pavillion Confident Community Cotllpuling Staff laptops Dealguard fire alarm project 3,284 3.094 121.833 2.305 1.750 3.264 Chapel Lighting Fund comprises money received towards work required on the Lighting in the Chapel 1121,8331 2.305 Future Boiler Replacement cOmp￿Se5 fnoney towards replacing the b()ilers in the lulure Green Agenda cornprises money received towaTds Ihe College's visiofj of reducing its impact on thè environment. 3.000 3.000 19.427 119.4271 Prayer Pavilion compt*ses money received to create an outdoor pavilion lo enable the grounds to be better ulilised and be more accessible all year round. 15.OlXI 1.000 115.OtM)I 15981 402 Confident CommunTty Computing compri*s funds fDr delivery of a year-long community computing course at the College. aimed al older membeis of the local community. 136,166 35,427 120,0251 1136,8331 14.735 Staff Laptops comprises funds lowards the purchase of new laptops lor the staff. Deafguard Fire alarni project comprises money raised lo provide specialist fire alarm systems in flats and rooyns occupied by those with impaired hearing. 39 40 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 23 Unrestricted funds The unreslncted funds of the charity compose the unexpended balances of donations and grants which are not subject to specilic conditions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unrestElCted fu￿d5 by the Irvslees f(K Specif￿ purposes. 25 Operattng lease commitments A11 Septetnbef 2024 Incomiag resources Res0￿rceS expeFHleil Lessee Ga4n$ aThJ losses At 31 hyyust At the reporting end date Ihe College had outstanding commitments for future min*mum lease payments under non-cancellable operat%ng leases. which fall a5 follows.. General funds 2.464,800 2,380.671 12 375,3011 973 16,7211 2.464 422 2025 2024 Incoming resoufce$ Resourcès At 31 August 2024 Wit￿Tin one year Between two ar¥d live year5 In ovei fsve years 8.222 32.889 5.040 46,151 5.040 20.160 33.600 33.600 Prev￿￿$ yeaf-. Atl Seprember 2023 T¥anslws Gains arxl losses General funds 2.408.564 2,368.462 12.470.625) 136.833 21,567 2.464.8 At the reporting end date the total lease payments recognised as an expeRse totalled £6, 101 12024 £5,040) 24 Analysis of net assets belween funds 26 Related party transactions Unrestricted funds 2025 Restricted fLtnds 2025 Total Ir the year the trustees d0fi31ed £430 collectively towards reliiemeTrl gifts for the outg(Nng Chair and Vice Chair. I he gifts weie then purchased by a ttustett who was subsequenlly ￿lml>U[S¢d lor Iheif expensts of £430. No such Iiansactions occurre¢ in the pnor ytsar. 2025 AI 31 August 202S= Tangible assets Inveslments Currenl assetsllliabilili¢sl Long térm Iiabilifies 2.105,163 184.976 174.533 12501 2.105,163 184976 183.129 12501 27 Cash generated froml labsorbed by) operations 2025 2024 8,596 Deficil for the year 16.5171 185,1961 2,464.422 8.596 2.473.018 AdjustrnerTts for-. Lossllgainl OTr disposal of invesrments Fair value 9ains and losses on Investments Depfeciation and impairment ol tangible fixed assets Interest r￿1Ved Interesl paid Investrnent managers fees deducted from wrtfolio 6,384 337 106,452 16.5021 115.651 105,840 13281 3,195 2,477 Unrestricted fijnds 2024 Restricted funds 2024 Total 2024 3,241 2,630 At 31 August 2024.. Tangible assets Investments Current assetsllliabilitiesl Long term liabilities 2.209.770 259.498 6,282 110.7501 2,209.770 259.498 21.017 110.7501 Movèments in working capital.. Decrease in stocks lin¢ie3sel in debtors {DecreaseVincrease in creditors 36 116,3421 119.1991 6,693 149,7441 8,112 14.735 2.464,8 14,735 2.479,535 Cash generaled froml labsorbed by) Ope￿tIO￿S 76.971 110,5181 41 42 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 28 Analysis of changes in net funds Cash At31 August 2025 Septernber 2024 Cash at bank and in hand Loans falling due within one year Loans falling due after more than one year 55.730 110.5001 110,750} 126,607 182,337 {10.5001 12501 10.500 34.480 137.107 171,587 g o 43 S Ln3 ¢Tr *y 11:ljjl Early views and impressions of the College