This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

THE MILLS CHARITY ANNUAL REPORT FOR THE YEAR ENDED 31 JANUARY 2024 Charity Number.. 207259 Regulator of Social Housing Registration Number: 5122 En$orn Atteountant$ LLP Floor 3, Connexlons, 159 Prin¢•s Street Ipswich IP11QJ

THE MILLS CHARir FOR THEYEAR ENDED 31 JANUARY 2024 INDEX Pagè No. OFFICERS AND GENERAL INFORMATION TRUSTEES, ANNUAL REPORT 8-10 INDEPENDENT AUDITORS REPORT 11 BALANCE SHEET 12 STATEMENT OF FINANCIAL ACTIVITIES 13 STATEMENT OF CASH FLOWS 14-23 NOTES TO THE ACCOUNTS 24 STATEMENT OF FINANCIAL ACTivrriES- COMPARATIVE YEAR

THE MILLS CHARITY FOR THE YEAR ENDED 31 JANUARY 2024 OFFICERS AND GENERAL INFORMATION TRUSTEES: Mr M J Kelleway Mrs J Blore Mr J Robbins Mi T M P Donsworlh Dr R Bushaway Mi J R Tanner Mrs P Slater REGISTERED OFFICE: The Mills Charity PO Box No 1703 Framlingham IP139 CHARITY NUMBER.. 207259 REGULATOR OF SOCIAL HOUSNG 5122 REGISTRATION NUMBER: Registered on". 4 February 221 BANKERS: Barclay8 Bank plc Leicester LE87 268 CCLA Investment Management Ltd S¢natot House 85 Queen Victoria Street London EC4R 3AB INDEPENDENT AUDITORS: Ensor8 Ac¢ounlanls LLP Floor 3. Connexions 159 Prin$ Street Ipswich IP1 1QJ SOLICITORS: Birketts Providèneè House 141- 145 Princes Street Ipswich IP1 1QJ INVESTMENT ADVISORS.. Investe¢ 30 Gresham Street London EC2V7QN JMFinn 4 Coleman Street London EC2R 7AH Brewin Dolphin Fi8sef Hous• 23 Mus8urn Street Ipswich IP1 1HN

THE MILLS CHARITY FOR THE YEAR ENOED 31 JANUARY 2024 TRUSTEES ANNUAL REPORT The Trustees present their Report for the y?ar ¢n<fed 31 JaNary 2024. The accounts have b9¢n pr¢pared in accoidance vAth the accounting polieièÈ sèt out in note 1 to the accounts and comply with Charity's Scherne, the Charities Act 2011, the Statement of RecommendÈd Practice Accounting and Reporb'ng by Charities" and FRS 102. Governlng docunwnt The Charty was established to execute the will tsf Thomas Mills who died in 1703 and a fcffflal s¢heme was registered with the Charity Commi55ion dated 16 November 1915. Various amèndments have taken place over the years, from 9 January 1981 to the latest dated 11 December 2020. The Mills Charity is an unincorporaled association. The Chaiity Registration number Is 207259 and its registèrèd addiess is PO 8ox No 1703, Framlingharn, Woodbridge. Suffolk. IP13 9VWV, The Charty registered as a SoThal Landloid with Homes England on 0410212021. Trustees The Trustees during the year an¢ their appDinb"ng body were as follows'.- Mr Martin J Kelleway Cfyoptative Trustee Rev Mike Vipond Iceased 11 March 20241 CTroptative Trustéè MT5 Nicola Warner (Ceased 7 August 20231 C¢-¢Ptative Trustee Mrs Jane Blore Co-optative Trustee Mr James Robbins C&optative Trustee Mr Timothy M P Donsworth Ctroptativé Trustee Mr James R Tanner Fiarnlingham Town Counul Dr Ruth Bushaway CTroptativÈ Trustè¢ Mrs P Slater IAppointed 9 October 20231 c(oPtaI1Ye Trustee Ccwptalive Tru51ees ar¢ appointed by the Board of Trustees with Nominativè Trusteès appointed by the respective bodies. The Nominative Trustee5 are appointed lor a four-year period and the Co-oplative Trustees lor a fi've.yeai period. The Annual General Meeting is nomislly hèld in April, May or June. The Charity's Isors are set oul on page 3. When a vacancy occurs for a co-opted Trustee, the rernaining TFUStees seek to appoint an individual with skills and experience whith they feel will be of benefit to the Charity. On apptsintsrent, new Twstees are given copies of the original Trust Deed and th? latest Annual report and accounts. There is no formal induction and training ogramme. but indimdual TrLJStees may attend seminars to upd8ts themsslves when they feel it necessary. Asm$ and Organlsation The Charity's area of benefit Is Framlin9ham and the surrounding area. whete il is able lo piuvide assistancs for those in need, hardship, or distress, provide and maintain thè Almshouses and mc(e recently the Trustees may assist wlh other proje¢ts vthich are lor the general benefit of the inhabitants of Framlingham and the Surrounding area. The Trustees are confident that thè Charity's objectives described above are in aCrdanCe with the Charity Gommlsgon's general gLtldance on p1¢¢ benefit Review of Progre8¥, A¢hlevements, Investment Pollcy and Grant making poll¢y Durin9 tht financial year to 2024, The Mills Charity helped in a variety of ways, the people and organisations in Fiamlingham and some of contiguous parishes. This assistance included financial help to a nutnber of peopl¢ in need who had applied to the Charity lor assistance, amounting during the year to £2.053 12023.. £1,608). Several or9anisations applied for assistance.. generally. for improvements or paIrS to existing ts¢ilities, for which graT)ts for the yeAr amountéd to £12,5CNJ 12023.. £21.1781. Trustees ¢i)nsid¢red each application on ils m6rits according to the terms of ils Scheme and the Charities Commission guidance on public benefil, so nol 811 Tequè5ts wèrè agre8d.

THE MILLS CHARITY FOR THEYEAR ENDED 31 JANUARY 2024 TRUSTEES ANNUAL REPORT (Continued) Thè risks Involvèd with the Almshouses and tenanled properties are mitigated by the Trustees having adequate insurance, undergoiwvJ iegular propEtty review5 and a programme of repaii work. as well as having a per$on81 alarm sy£lem at the Almshouses. There are no restrictitsrns on ihe Charty's powér to invest. Trustees uJnsi(Jer the risk profile and the investment manageffs view ol the market prospects, with a view to ensuring caprtal appreaab'on ol the lund exceeds inflation. Our stratègy Is rÈviewed rith our investment managers annualPy. Wekome tts my first Chairman's report sin¢¢ laklng over role from Jane Blore. The past e1ve month$ have led to signifi¢ant ¢hallenges for the Charity due to the flood darnage caused tts several properties in ntral Framlingham. This ha5 led to rep8ir and reinslatement works on four properties owned by the charty damaged by water eesS during Slomi Babel. These piopertie5 are l¢t as non-almshouse residences and comprise ol.. - 4 Stalion Road 6 Slalion Road Tomb Hse Brook Farm House (adjoining Tomb House) The flo(Id damage ha5 also d¢lay¢d the ongoing major refurbishment of Tomb House. Tomb Housè 1$ extremely significant to the charity's history as rt was once the horne of Thomas Mills arKI is ts 8ite of his resting place. irnprovements include structural repairs to the roof. external walls, and the Tomb itself. The works will greatly irnpfove the fabric and lacilibes ol the property and preserve it lor future oènèratitsns to énjoy_ The unexpected iefurbishmenl work has Pla an additional burden on the management staff, and I would like to thank our Manager, Karren Pipar, and her assistant. Gèmma Ye8ts, who h8ve wntinu8d lo work tirelessly to run the office day to day. From our interactions with residents, it is clear that thè cost-ol-living squ6azÈ aet$ &vèryon8 diff8rently. Atthough the running c051 of the Almshouses, induth'ng repair ar¥J maintenance, has also risèn. thè charity ha6 sought to keep occupancy ohaiges below the threshold limit ol the Local Housing Authority benefrt cap. Wè continue to Int•ract with residents and aré looking rwer the next 12 months to ty and engage more dir¢¢lty to leam what we are doing well Iso we can do More of illl and where there is room for improvement. Through the Mills Educational Foundation. the ch8nty has ContUed to 5UPPOrt our local slate schools by providing grants for tsmilies strugglir)g lo send their children on paid educational trips atwjlor activities. Th6 charity has 81so been able to provide specifK financial assIstsn for other tocal residents, in need, hardship or dist$$. in line with our granVawar(I criteria. 2023124 sgwlhe Charity grant £14,553 to local causes and to individuals in need in our mMunIty. In August 2023. Nlcola Warner stood d(Iwn trom the Trustee board and we welcome¢Y new Trustee P8ula Slater, who has rapidly become a value¢J membèr of the board. The Mills Charty is very mud7 a team effort. and I would like lo take this opportunity to thank my fellow Trustses lor their support 8nd hèlp throughout the year Mr James R Tanner (Chaimanl

THE MILLS CHARITY FOR THE YEAR ENDED 31 JANUARY 2024 TRUSTEES ANNUAL REPORT {Contlnued) Flnan¢lal review The Charity holds investments and short-tM deposits Wbth a v8luè of £6.514,&31 12023.. £8,348,066). During the y$ar the investments produce¢J an income of £138.54912023.' £138,9091. The Mills Charrty made contributions lotsling £14,55312023.' £22.7841 to thè local 1mUnity in the form of d¢n*'ons to indiwduals and communrty gioups. Unrestrlcted Funds Thè unrestricted fund had a value of £1,261,443 as at 31 January 2024, divided as follows.. Dèsignated Fund is the Cydical Maintenance furvj e$lablished lor the regular maintenance and repair of the Almshouses and other propety belonging to the Charity. The afflount held wlhin this reserve at the balance sheet date is £108,843. Unrestrlci•d Funds are hèld by the Trustees lor the purposes of the Charity's aims and crganisation as discussed above. The fund value has a value of £1,152.8QO as at the balance she&t datè. Restricted Funds The restricted fund had a valuè of £311,744 as al 31 January 2024, divided as follow5.. Extraordlnary Rèpair Fund. estsblished to provide for the extraordinary repair, improvement or rebuilding of the Almshouses and other prop¢rty belonging lo the Charity. The amount hekl within this reserve at the balanc¢ sheet dale w8s £311.744. H M Turnèr Tru$1 is 8 lund estsblished by a bequest from the late Mi H M Turner, a fomier Chairman ol tht Trustèès, the inmme from which Is to be distributed amongst th¢ residents ol the Ajmshouses at Christrnas each year. A T Sheen T$t is a fund established by the late Mr A T Sheen, the inctsme trorn which is lo be distributed 8mon9St the residents of the Almshouses at Easter ¢ach year. The amount held within this res•rvÉ and the M Tumer Trust at the balance sheet date is £nil. End¢)winent funds This fund w85 e818blished by oTrJinal deed as a permanent endovment of which income is availab fgr general charity purposes. The capital may not ba spent without permission from the Charity Commis810n. The Trustees have committed to the refurbishrnenl ol the Almshouses in Framh"ngham from the annual surplus frorn general irwme. The amount held within this reserve at thè balan sheet dale is £8,487.631. Reseryes pollcy and golng concern Our balance sheet remains stron9 With net assets of £10,LXO,818 and the ownership ol the Almshouses in ststion Rtsad and other vartous properties. The Trustees havtr revSew¢d the rircumstances of the Mills Charity and consider that adequate resources conQ'nue to be availablè te fijnd the actwities for the foreseeablg future. The Tru6tees are ol the viewthat the charrty is a going ¢oncern. Due to the Charity'$ funding status the Trustees do not consider rf( nÈc8ss8ry lo have a lom7al polry on holding reSe$.

THE MILLS CHARITY FOR THE YEAR ENDED 31 JANUARY 2024 TRUSTEES ANNUAL REPORT {Contlnueil Fundr8l$ln9 2elhrttle8 The Charfty did not undertako fundralslro adivits8s during the year. Stgtèrnent of Trustees. Ra8pon$**llltlès The Tru51e8s a responsble for preparing th8 awounts In aCrdance with aptrab law and United Kingdom Generally A¢¢&pted Accounting PractiGe. Law applicable to clHTttles ln England and Wales requlres the TNst&o$ to prepare Flnancial Statements for 88th fin3n(sal year whlch a Irue and law view of lh8 ChariW6 ffinan acllvithes during the year and of Its financial posltiry) al the year-8nd being 31 January 2024. In preparing those Flnancial Statem8n18 th8 Trustees are fequlred to."

).*lect Suitable accoun wliues and tIMn 8pplyth8rn corslstenuy,

b) observe th8 metho¢s and prinupfes in the Chaities SORP cl ffl8ke judgements And estrnates that are reasonabk and prudentr. ¢J) ststo whether applicable accounting Standards and statements ot rOCL¥7imanded pr8cice havg LEen loWed. suLiect to any departures ¢Ytsdos•d and explain in &£clN5.. and el p8re the accourrts on the going o)ncarn basis unless r( is n*ppioprraLe Io 0S5urne that thè Charty continue In operathon. Th8 Trustees are respons8 foT keeping proper accountsry records Ihat di5d05e reasonablè 8rLur th8 financi?1 position ofthe Charty and whth enabl8 tham to ¢nsure Ihat tho Finantsal Statemgnts comptywith the Chèriii¢s Act 2011. the applicab Charilies (Acctrjnts and R8FM)rtsl ReguJatw)t15 and provisions ol the Chaftty's Sch8The. They are aL5o f¢sFonsfole safeguarding the assets of the Charity and hen for taknng r88¥on8bl8 Stws for tha prevention and dets¢t offraud and othu irragularibes. In so far as the Tru9taè$ ar8 aware: there Is no relevant 8LNJt¢ informatlon of which the Ch8riV$ auditUT5 are unawBre. and the Trustees have tsken all steps they ought to have tak¢Tr to rnakg themselves oware of Bny relevant audit information to eststAi5h Ihal the auditors a awwe of that irformatknn. AUdtrI5 A rEsdution be proposed at thè Annual G8nèrnl M8eting that Ensors Accountants LLP bB r8-8ppoint8d as auditors to the cxarfty for the en$ulng y88r. James R Tan Behalf of ttr , jChaiTffl8nl ruste)

THE MILLS CHARITY FOR THE YEAR ENDED 31 JANUARY 2024 INDEPENDENT AuDORs REPORT TO THE TRUSTEES OF THE MILLS CHARITY Oplnlon We have 8udited the financial statements of the Mills Charity for the year ended 31 January 2024 which comprise the Balance Sheet, Ihe Statement of Finanaal Actwities. Statèment of Cash Flow5 and the notes to the nan81 statements, including a summary of $ignific4nl accounting plueS. Thè financial rewling framework that has been applied in their preparation is applicable law and United Kingdom Accounting StarKl3rds, iflUding Fin8nci31 Rèporting Standard 102 The FinanGi81 Reporting Stènd&rd applicable in the UK 8nd RUbliC oflrèl6nd Iunited Kingdom Generally Accepted Accounting Pracbcel. In our opinion the financial statements". "ve a true and lair view of the state of the Charity's affairs as at 31 January 2024 and ol ils In¢oming resources and applicats.on ol resources, including its income and expendfture, flx the year then ended.. have been properly prepwed in accordance wth United Kingdom Generally A¢pted A¢counting Practice; and have been prepared in 8ccord8nc£ with thè r•quirements of the Charities A¢t 2011. Basls foi oplnlon We conducted OLJr audit in accordance with Intemational Standards on Auditing IUIQ IISAS IUKII and applicable law. Our responsibilities under those starbd8rds are fijrther described in the Auditorf5 iesponsibilities for the audit of the financial statements section ol ow report. Vve are independent of the Charity in accordance with the ethical requirements that ar8 ielevant to our audit ol the financial 51alements in Ihe UK, including the FRC'S Ethical Stsndard. and we have lulfilled our other ethical responsibilities In accordance with these iequiroments. We beIve that the audit evidence wè have obtained is SLrfficienl and appropriate to provide a basis for our opinion. Conclu$lon$ relating to going eone•m In audiling the financial statements, we have concluded that the trustees, of the going contsrn basi6 of acwunling in the preparation of the financial ststèments is appropriate. Based on the work we have performed. wè havÈ not Idèntified any material UnrtaIntieS relating to events or conditions that. individually or collectively, may cast signifieant doubt on the charity's ability lo continue as a going concem lor a period of at least iwelv6 months from when Ihe financial statetnents are authorised lor issue. Our responsibilities and the resF<Jn$ibililles of the trJJstees with respect to going corn are described in the relevant seclior15 of this report other Information The other information wmpri5e5 the informalion included in thè annual report, other than the financial statements and our auditors report thereon. The Trusteès are responsible for the CTrther inform8b"on. Our opinion on the financial slatem¥nl$ d¢es not cover Ihe olher infomialiorh and we do not express any form of assurarKe conclusion thereon. In connection with our audit of the finartcial st8tem&nts, our reSpCsibllty is lo read the other information and. in doing so. consider whether the Dther information 1$ m*erialty inctsnsistent with the financial slaletnents or OUT knovdedge obtained in the audrt or Otherwise appears to be materialty misstated. If WÈ identify such material Inconsistenc4es or appatent mateiial misstatements, we arè rèquirad tts determine whether there is a matertal misstatement in the financial ststernents or a rnaterial misstatement of the othér inlom)ation. If, based on the work we have perfcwmed, we condude that there 1$ a materral misstatement of this othèr informats"on, ws arè réquirèd to report Ihal facL We have nothing to report in this r4ard.

THE MILLS CHARITY FOR THE YEAR ENDED 31 JANUARY 2024 INDEPENDENT AUDrroRS' REPORT TO THE TRUSTEES OF THE MILLS CHARITY (Continued) Matters on whlch we are required to report by ex¢eptlon We have nothing to report in iespect of the following matter8 in relation to which the Charitses (Accounts and Reports) Regulations 2008 require lo report to yOLr il. in our opinion." the information given in the finan¢ial statements is inconsistent in any matèrial rÈsped wth tha Trustéès, Repor(01 surricienl accounting reroTds have not been kept-, or the finanaal stslements are not In agreemant the accounting records., oi we have not received all th¢ inlotrnation and explanab'ons we require for our audit. Regponsibllrtles of Trustees As explained more fully irb the Slale¥nent ol Trustees, Responsibilrties. thè Trustees are responsiblè for the preparattron ol the financial sialernents and fr)r being satisfied that they give a true and fair viw, and for such internal control as Éhe Trustees determine is nessary to ènabl* the weparation ol linanaal stalements that are free from material rnisstalernenl. whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Charity'6 ability to continue as a going concern, disclosing, as applicable, matters related lo going EonTrrn and using the going concem basis of acetsunting unless the Twstees either intend lo liquid8te the charity or to cease operations. or have no aIrst1¢ allernalive but lo do so_ Auditors, rèsponslbllltie$ forthe audit of thg flnanclal Statements Our objectives are lo obtain reasonable assuiance aboui whether the financial statements as a whole are free from material rnis5tatement, whether due to Iraud or èrror, and to issue an auditor's report that includes our opinion. Reasonable 8ssvranG¢ is a high level ol assurance bul is not a guarantee that an audit conductèd in accOrdare with ISAS (UK) will aayS detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered tnaterial If, Individually or in thè a99regate, they could reasonably be expected to inflL¢ence the econornic detysions of us¥$ taken on the basis of these fi'nanclal ststèmenls. Iriegularities, inclufJing fraud, are irnstsnces of nofy¢ompliance with laws and regulations. We dèsign procedur88 in line with our responsibilittes, othlined above, lo detect material misstatements in respect of irregu13rities, induding fraud. The extent to which our pr¢¢Ur¢S are capable ol deleding Ir[egalti.è8. ineluding fraud, is deladed beltsw. Ouf audtk was designed to indude tests ot detail togèther with an assessment ol the control enviiontn8nl to enable us to obtsin reasonable assurance about whelheT the financial statèments as a ole are free from rnaterial misstatement due to fraud. This Inclded work on areas where we con8ider there 15 8 higher iisk of traud induding revenue renliOn. rnanagernent override ol systems and control. transactions wth related parties, accounting estimates. commrtments and ¢Onts"ngeie$. Vve also obtained 8n undsrstsndin9 01 the legal and regulalory frarn8work that thè charty operates in, through discussi5 Wrth the Trustees and other managernenl and Irom our own knowledge and experienGe ofthe sector. In idenbfying and assessing risks of material misstatemènt in rèspect of irregularities, including frayd, the audit engagement team". obtained an understanding gf the natu of the industry and seclor, Including the legal and regulatory framework that the charity operates in and how the charity are complying wth the legal and regulatory frarrewotk both at the planning stage and reminded 10 rèmain alert throughout the audit.. inquired of management, and those chaiged wrth governan, about their own identifiGation aThJ assessment of the risks ol irregularitie5. including any known adual, suspeded or alleged in5tance5 of fraud., audrted the risk ol management override of ctsntrols, including through testing journal entries and other 8djustm¢nls lor appropriateness, and evaluati the business rationale of significant transactions outside Ihe normal murse of bu51nÈSS',

THE MILLS CHARITY FOR THE YEAR ENDED 31 JANUARY 2024 dlswssed rnatttsrs aboul non-c0rnpha wth laws #nd regulations and howfraud might occw including 8ssessrnÈnl ofhow and where financial statements may be suswtible to fraud., btlY Challged accounting estimat¢S to eAsure no inth'¢"on DI manag¢m&nl bias. rewew olm&en9 mlrrtrtes ofTruslees. However, il 15 the primary re5pon$ibilty of managem•nL wlth the oversight of those tharged wlth go¥errance, tts ensure that the entity's operaiions are eoTrJuct•(l in ¥ccnrd8nce wth the provi¥ron8 of laws and regulations atxl for the prev*ntion and detection of fraud. Afurther dtsscription of ¢ur re$ponsibilrtie8 is 8vallable rjn the Reporting CounrAI's website at. klauditorsres:.onsibil es. Th da$tyiption IoTms part of our auditovs rort. Usè ol our report This r•port is made solety to the Charity's Trvstses, a$ a bpdy. In 3ccord2nce wlh Part 4 of the Charities (Aceounts and Report$l Regulations 2008. Our audit work ho8 been undertaken so that nmght 51ote to the tnxstees IhLi8e matteTS we ar& required lo stst& to them in an audllor¥ feport 8n4J for no other purpose. To the fulSt •tent permitted by law, we do not OT as$ume TesponsTbility to ?nyone other than the Charity and its Tw8tees as a body. for OUT audlt work. foT thbs rewrt or for thè opinitsnswp have fornwd. Ens¢)rs Accountsnts LLP ChkrteredAccwntsnts & Ststutory AuditOfS Ipswch 10

THE MILLS CHARITY FOR THE YEAR ENDED 31 JANUARY 2024 BALANCE SHEET Totsl Funds 2024 Tot•1 Funds 2023 Flxed Ass•ts Tanglble a85els Freehts land & bulldings Flant & equipment Invesbnths 3.621.094 3,548.297 434 622gJ98 6.389.761 11010.855 ,778.129 urrèntAssets Debtcrfs Cash In bank aftd in hand Bank accounts 26.109 28.283 125,070 118.668 151.179 144.951 Current Liabllltl•s 10 101216 48.508 Net Current Assets 49.963 96.4143 TolBI Astsets less Current Liablll¢l88 10,060,818 9747? Thg Fund¥ of the Charfty Endowment funds Restricled funds Unfvstricted fvnd 13 14 16 8.487.631 311.744 1,2e1,443 8,503,040 287.240 1,084.292 10,1]60.81B 9,874.572 The not¢& on pog¢$ 14 to 23 fonn part of thes8 8ccounts. Approved bylhe TTiisl88s on .. 121.:,12dLf . slgned on thdr behaK by.. T James R Tan r 1chalrml Mrm rtin J KWBY

THE MILLS CHARITY FOR THE YEAR ENDED 31 JANUARY 2024 STATEMENT OF FINANCIAL ACTivrriES Not8 UnreBtrlct8d Restrl¢t¢d Endowment Funds Funds Funds Tvtsl Fund$ 2024 Total Funds 2023 Incom• and •nd+)wmènt8 frorn Investrnenls chaable activltie5 Rents & wayleave5 Grants Insurance claims 18 137.961 588 13&549 138.909 232.957 476 20594 232.957 476 20,594 223.437 Total Incomo 391.988 588 392.576 362.346 Expendliuro on Raising furth. Investsnent managemwtt Chari18ble actNrt Almshouses Let propety exppnse6 Grants_ rdief in need Grants- general benefil 36.182 36.162 34.529 19 19 22 20 144,419 40,479 6,707 17,153 588 145,007 40.479 6.707 17.153 119,187 17,253 5.769 25.335 Total expendl¢urq 208,756 588 36.182 245,528 202,173 Opèratirtg surpfus 183.230 136.182} 147.1)48 160,173 Net 1n9 &11(Issesl on investrn8nts.' Realised Unrvalt5Ed Galns on revaluatk)ft of a&set$ 11,6781 16.372 11.6781 148,646) 40,876 (10.3ei) 24,504 N•t In¢tsmo 183,230 24,504 121,4881 186.246 101.166 Transf¢rs bett¥een fun¢ (6.0791 6.079 Net rnovement In lunds 177.151 24,504 115.4091 18fj.246 101.166 Recon¢lll•tlon of fund$.' Total funds brought forward 1,084,292 287240 8,503.040 9.874,572 9,773,406 Total fvnd5 carrled forward 17 1.261,443 311.744 8.467.e31 10,060.818 9.874.572 The notes Dn page 14 10 23 fomi part oflheso acwjnts. dty Trustè6s on . . and signed on their behalf ty.. ame$ R Ta ier jchairmanl 12

THE MILLS CHARITY FOR THE YEAR ENDED 31 JANUARY 2024 STATEMENT OF CASHFLOWS 2024 2023 Note Cash flows from operatln9 actlvlties 23 61,814 33,975 Cash flow from Investlng activtties Investment incorne Fixed asset addili¢)wis Purchases and sale ol investments Movemenl between investments and cash and cash equivalents 138.549 172,7971 28.836 1150,0001 138.909 125,0161 22.021 1350,0001 155,4121 1214,0861 D*¢r•as• In cash and cash equlvalènts 6.402 1180.1111 Cash and ¢a$h ¢qUalentS at beginning of the y8ar 118,668 298,779 Cash and cash equivalents at •nd of the year 125.070 118,668 13

THE MILLS CHARITY FOR THE YEAR ENDED 31 JANUARY 2024 NOTESTO THEACCOUNTS ACCOUNTING POLICIES The principal accounting policiés are sumrnari5ed below. The accounting polieiès have been applied nsistÈntly throughout the year and in the preceding year. The financial statements have been prepared In accordance with knounting and Reporting by Charities. Statement of Re¢ommèndÈd Practice applicable lo chaiities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffectivè 1 January 20151- (Charities SORP IFRS 10211 and the Financial Reporting Standard appli¢able in the UK and Republic of Ireland IFRS 1021. Thè Mills Charrty meets the defi'nition of a public benefrt entity under FRS 102. a} Basls of preparation and a¥sessment of golng con¢*m ThÉs• finanaal statements have been prepared under the hlslorical cosl cwvention èxcept that investrnent asgèts Are carried at market valu¢. The curret)cy of the accttunts is the pound and the figures sh¢)wn have been rounded to the nearest pound. The Charity has prepared its hnancial statements in a¢cordance wilh AcwuntirTrg and Reporbng by Charibès" Statement ol Recornfflended PracbTr applicablè to charities preparing their financiol statements in accordance wth FRS 102. in prefer¢nff to the AccounliThJ and Reporting by Charities.. Statement tsf Recommended Pradi¢x issued on 1 April 2005 which Is t¢f8rred to in the extsnl regulats'ons bul has Sin been wthdrawn. The financial statements have been prgpared to give a 'true and fxirf view and have departed from the Charities (Accounts and Rewjrtsl Regulab"ons 2008 to the exlent required to providè 8 ttrue and f8ir view, as described above. Thé Trustees consider that there aiE no material uncert8inties about Ihe charity's ability to continue 8$ 8 going concern. bl Fund a¢countlng Unreslri¢ted funds are available fot Use at the d1suetr of the Tru5t¢es IN the furtherance ol the general objectives ol thè Charity. De5ign8ted funds are unrestricted funds earmarked lor partiE1#r purpDSOS. Restricted funds ale subjèct to restrictions on their expenditure imposed by the ¢J¢nor or through the krms of an appeal. Endowment lund wa5 established by original dééd as a pemianent endowment ol %thich incorne is available for general charity purposes. Any capital gains or losses ¥ising on the investments form part of the funLI. Investment managèrnent tharges and advice relating tts the fijnd are charged Against the fvnd. cl Ineome All incorning resources are induded in IhÈ Statement ol financial activities whEn receipt is probable and the arnount can be quantified with reasonable accuracy. The followng specific policies applied lo particular Gategones of income.. Voluntary income received by way of donations. grants and gifts is induded in full in th8 Statement of Financial Activitses when receivable at fair value, ÈxcÈpt insofar as they are incapable ol financial measuretnenl". Invgslrnent income is induded whèn r•ceivable', and Incoming iesDurces from charitable a¢tivitiè$ are accounted for when eam8d. 14

THE MILLS CHARITY FOR THE YEAR ENDED 31 JANUARY 2024 NOTES TO THE ACCOUNTS coKfiNUED ACCOU14TING POLICIES CONTINUED.... d) Resourees expended Liabilities and expenditure are included on an accruals basis and are rewgni5ed when there is a legal or nslFUCtive obligation to pay. Grants expended in the year are charged in the sam8 manner, grants offered at the bAlanc• sheet date are noted as ctrmmitments where Iheig 15 riL¥ obligation to pay. Liabililtes and expenditure indude VAT 1¢h the Charity is unable to recover, and is rèported as part ol the expenditure to which it rdates. Most costs are directly atlriL7Uted to the rolevant category of resources expEnded in the Statement of Finanaal ActiVeS. Gharitsble aclivities cosls includ? costs ol preparation and al11 of slatvtory accounts, the costs of Trustee meetitvJs and cost of any legal adviTr to Trustees on goveinance or con51itulional matters. } Debtors Trade and othèr debtors are reo)gnisod at the sewement amount duè after any trade discount offered. Prepayments are valued at the amount prepaid nel ¢fany trade thscount$ du8. Crndltors Creditors and prowi510ns are recognised where the charity has a present obligation resulting from a past event that wll wobably result in the transfer of funds to a third paty and the amount due lo settle the obligation can tE vneasured or estirnated relizbly. Creditors and provisions are recognised at their sÈtUèm•nt amount after allowng any trBde discounts. gl Flxed ass•ts. Investment properts hnd Investments Freehold L8nd and Buildings are let out to fvrther the Charity's own purpDSaS by providing accommodation to the Charity's beneficTaties and ere classthed as fixed assets accordingly. They are irub.alty measwed at cost Ènd subsequently al cost less impairment. The Charity undertakes an ongoing prograrnmè of r8ntsvaticn such that d¢preciation is not wn%dèrÈd to be material. Assets costing more than £500 &e capitalised. Plant & e¢wipmenl Gomprises of computer equipment and is depreciated * a rate of 113rd per annum on 0 Straight-line basis. Investment Property held Ss fixer£ assets is stated at matk8t value at the balall sheet date wth any gain or loss lakon to the stalemenl of financial activities in the underfying lunij. Inveslmenl property wll bè rè- valued on a rolling five-year basis. Investments held as frxed assets are revalued at miikrnarket value at Ihe balance sheet dale and the gsin or loss taken lo the $t*ement of financial activilte$ in the underlying fund. Investments are ¢lassified as fixed asset imiéstrnents when the Charity doe5 not expect to realise them within 12 months of the balance sheet dale. The Charrty holds 1nvestments wth slockbTokers which are initialty re¢ognlsed at transaction value and subsequenly measured at the year 8nd at bid value. h) Flnanclal Instruments The charity has eleded to apply the provisions of SectiDrh 11 'Basic Financi81 Instrumerbls, and Section 12 'other FinancAal Instrurnenls Issues, of FRS 102 to all of ils fillancial instruments. FlnancAal instruments are recogntsed in the balance Sheet when the charty becomes party to the contr8Ctual provisions ol the instrument. 15

THE MILLS CHARITY FOR THE YEAR ENDED 31 JANUARY 2024 ACCOUNTING PIXICIES CONTINUED.... Financial assets and liabilities are offset, with the net amounts pr•sented the financi81 statements. when there is a leg81ty enforceable right to set off the r¢cognised amounts and therè is an intention lo setue on a nÈt basis orto realise the asset and sellle the liabilty sirnultxnèousty. 8aslc nanCIalASsets Basic financial assets, whith Include debtor5 and eash and bank balan$, are initially m•asured at transaction price including tran$8dign costs and are subsequently rArried at amortised cost Using the effective interest fflethod, unless the arrangemènt constituies a finanring tiansadion, where the transaction is measured al the present value ol the ILrture rec£ipts discounted at a market rale of inlerest Finanu81 assets classrfied as recewable within one year are not amorbsed. Cla$slflr?tlon of Financlal Llatslitie$ Finanri81 li8bilth.es and equity instrurnents are dassified according lo thÉ substance of the contractual arrangements entered into. An equily Instrument 15 any ¢ontra¢t that evidences a residual interest in thè assets of the charily after deductiny all ol it5 liabilities. Bas1¢ Financial LlablMtI•s Basic financial liabilities. including ¢dItOrS, bank loans. loans trom fellow group undertakings 8n(f preference shares that are cjassified as debt. are initialty recorded at transaction price Un$$ the arrangement constitute5 a financing transaction. where the debt instrument is measured at the present value of the future payments discountecl al a tnarkEt late of Inte$t Financi81 liabilities cjassified as payable within one year ale not amortised. Debt instruments are subsequently carrEd at arnortised ¢ost, using the effeth've intsrest ratè method. Trade credilors oNigations to pay for goods or services that have been acquired in the ordinary cours• of businèss from suppliers. Amounts poyable are classified as current liÈbilits"es il payment is due within one year or less. 11 not. they are presented 85 non-cuirenl IiabilitE5. Trade creditors alé initially recognised at Iransaclion price and subsequently measured at amorb5ed cost using the effective interest method. Cash atbank andin hand Cash at bank and in hand ale basic financi31 asse15 and indu*Je ¢ash in hand, depo5t5 held at eall wth bank5, Other short-term liquid inveslm¢nts with tsriginal maturitie5 of thrÈe months or less. Judgements and key sources of È8tlmatlon uncertainty In the application of the Gh¥rity's accounting poiicies, thÈ Trustees are required to rn8ke judgewnenl8. estirnates and aSsLJmptÈ about the carrying amount of assets and liabilities that are not re3dily appar?nl from othei $OUrS. The estimates and assoat&d aSsMptIOnS are based on histontsl experience and other factors that are con$id¢red to be relevant. Actual iesulls may dsffer from these estirnates. The estimates and underlying assumptions are rewewed on Sn ongOitvJ basi5. Rewisions lo accounting stitnates are recognised in thè period in which the estimate is revised where the revision alFects only that period. or in the p¢riod of the revision and future pÉwiods there Ihe revision affects both Curllt and future p¢iiod5. Valuatlon of Investments We are placing r$lian¢¥ on the expert for the esbmstes and judgements in the valuation ol quoted inve5tsnenls value5 providèd by investment managers at market value and also for valuation of Investment properties by Charted Surveyors. 1S

THE MILLS CHARITY FOR THE YEAR ENDED 31 JANUARY 2024 Trustee remunerallon & rélated paty transactlons No Trustee or olh¢i person related tCTr the Charity had any personal interest in any contract or transaction entered irrto by the Chwity during thè yèar12023- £nAI. In the period £nil12023.' £nill wa5 donated to The Mills Educational Foundation. This Charity has Ihè sam• Trustees as The Mills Chaiity. Taxatlon As a Gharity. The Mills Charity is exempt from tax on income and gains falling wthin section 505 of the T6xes Act 1988 or 5256 01 the TaXatn ol Chargeable Gains Act 1992 to the exlenl th¥t these are apph'ed lo it5 charitable objects. No tax chargès hav• arisen in the Charity. Fe•s lor audlt of the a¢coLmts 2024 2023 Auditiys lae lor reporting on the accounts and prowsitsn of services 11,450 10,800 Accountancy fee lor preparation of year end aceounts 11,450 10,800 Employees During the current year the Charity paid one full time Clerk12023'. 11, one part time Clerk for thè Charty and no ad hoc employees 12023.. 11. the gross salaiies for this amountèd to £44,383 12023.. £38,647) and Employers National Insurance Contrl)utions arnounted to £nil 12023.. £nill with èmployer pensitsn cx)ntributions of £1,33212023.' £1,1161. Fixad ass•t investments Total fixed asset investrnents Gompri5e £S,409,761 {2023.. £5.249,3981 of financial assets and £980.000 12023." £980,OLX)l of propety inveslmenls, 2024 2023 al Movement in flx8d asset inveslments Marf(et valu¢ at 1 February 2023 (Lossl I Profit on disposal of investments Change in year end mad(et value Fees Money invèsted Transferred 5,249,398 11,6781 40.876 136,1821 7.347 150,000 4,980,426 148,s461 {10,3611 134,6291 12.608 350,000 Market value a$ at 31 January 2024 5,409.761 5,249.398 bl Investmènis at market value Comprlsgd: Equitiès Fixed interèst securities Cash 4,650,204 694.728 e4.829 4,480,005 684.297 85,og8 Market Val as at 31 January 2024 5.409,761 5,249,398 The Ch8rty, as at the balance Sheet dale, has deposits which arè duè to mature vthin the next 12 month612023.. Nill. 17

THE MILLS CHARITY FOR THE YEAR ENDED 31 JANUARY 2024 t) Stock ?han9È inv•stments comprf¥e 2024 2023 Holding of morè than 5°/0 of total investrnents". COIF Chaiities Investment Fund 311,743 287,240 UK Europe North America Other international other altemativ• assets 1,360,279 316,123 1,010,015 742,266 540,513 1,417,327 277,225 861,679 708,306 559,897 4,280,939 4.111,674 dl Pr¢peity Investments Morket value brought fOard 980.000 980,OOCI Market value carried forward 980.000 980.000 Thè investment properties bigught forward consist of 3 properties. These properties were valued in Juty 2022 by Clarke & Simpson an open market basis and have been adjusted in line with th¢ revaluation policy. On an historical cost basis the5¢ would have been indudtd at an original cost of £175,538. Tanglble Flxed Assets Land & Plant & Buildings Equipmènt T¢)tsl Cost At 1 FÈbruary 2023 Additions Disposals 3,548,297 72,797 2.641 3.550.938 72,797 Al 31 January 2024 3 621094 2,641 3.623.735 Depre¢lation At 1 February 2023 Charge for the year Dapreciation on disposal 2,207 434 2.207 434 At 31 January 2024 2.641 Net book values Al 31 January 2023 3.548,297 At 31 January 2024 3.621,094 3.621.094 18

THE MILLS CHARITY FOR THE YEAR ENDED 31 JANUARY 2024 Debtors 2024 2023 Investment income Prepayments Loan- MEF 17,444 7,080 1,$8S 16.136 10,147 26.109 26,283 10. Credltors Creditors and 8c¢wal$ Rentsl deposits PAYE NIC Loan-MEF Deferred in¢orne 32.526 9,712 822 36.465 9,312 690 41 58,156 101.216 48,508 11. Penslons Employees ale automztically enrolled into a muttimployer, defined contribution occupational pension 3cheme with NEST, unles5 they exercise their right to opt-out of thè scheme membership. The Mills Charity makes a 5.kn wntribution to the pension scheme. The employer's contribution is charged to Ihe stement ol Financial Activitie& in the period in which the s818ry to which the pension relates is due. 12. Commllm•nts At the Balance Sheet dalg, the Charity diLI not have any grant commitments which wers not providsd for WTtrhin thè 8ecounts.12023'. £ni5 cornmitrnontl. 19

THE MILLS CHARITY FOR THEYEAR ENDED 31 JANUARY 2024 13, Endowment Fund$ The Mi115 Charity Enthwment Fund was estsblish&Y in 1703 as a Permanent Endowment for the beneffil of the local community. The H M Turn¢r A T Sheen funds are expendable endowmenls which were recewed18ter, and the Tiustees have resolvecl that the income from these funds should lollow the donor's vAshes to support the residents of the Alrnshou&es. Tho funds ale represented by tangible fixed assets 8nd investments. Mllls Charlty H M Turner A T Sheen 2024 2023 Balan at 1 February 2023 8,485.192 17.598 250 8,503,040 8.$83.644 Income M8nagernenl lees 136,0451 11371 136,182} 134,620 Reinvested income 6,079 6,079 9,861 Gains & investments -Realised 11,6781 11.6781 148.6461 Gains on revaluation of assets -change in year end market value 16,083 289 18,372 17,1901 Balance * 31 January 2024 8,469,631 17,750 250 8.487.631 8,503,040 14. Restricted funds- In¢om• lunds Turnerl Shèen Income Extraordln8ry Repalr Fund 2024 2023 Balan at 1 February 2023 287,240 287.240 303.574 Ir& 588 $88 291 Addition5 in the year Expenditwe IS881 15881 14931 Ch8ng¢ in maiket v81 24,504 24,$04 13,1711 Grant- 2023 The Brick Fund 112,8311 Disposals 11301 B818n¢e * 31 January 2024 311.744 311,744 287,240 The Exiraordinary Repair Funds required Uer Ihe Charity's Scheme and transfets must be made each year from the inryome resources ol the Charity. The funds are maintained at a relab'vely high lèvel in case major repairs are required. 20

THE MILLS CHARI FOR THE YEAR ENDED 31 JANUARY 2024 15. Deslgnated Fund$- Incom8 funds 2024 2023 Cyellcal malntenance fund B818nce at 1 February 2023 105.758 1D4.121 Funds introduced 960 Interest allo¢ali¢n from unrestrlcted furKIs 1,745 677 Balarrk at 31 January 2024 108,463 105,758 The Cydical Maintenance Funds comprise funds sèt aside fr>r cydical repairs at the Amshouses and other prtspertieÉ owned by the Charity. 16. Unr•strScted funds Deslgnaled Fund Unrostricted Total Funds Fund$ 2024 Total Funds 2023 Balance at 1 February 2023 105.758 976,534 1,084,292 886.188 Income 391,988 391,988 362,055 Ajlocation in year 2,705 12.7051 Fund transfer 16.0791 16,0791 {9.8611 Expenditure 1208,7581 1208,7581 1154.09tr1 Balance at 31 January 2024 108,463 1,152.980 1.261.443 1.084.292 17. Analysis of net As$*ts batwan ld$ Designated UnrestrlGted R95trlcted Endovdnent Funds Funds Funds Fund$ Total Fund5 2024 Totsl Funds 2023 Freehold land and building$ Plant and equipment Investment assets CuThent assets Gutrenl Ilablllties 707,095 2,913,999 3,621,094 3,548,297 434 6,229,398 144,951 148,5081 504,385 42,716 1101,2161 311,744 5,573,632 6,389,761 151,179 1101.2161 108,463 108,463 1,152,980 311,744 e,487,631 10,(0.818 9.874,572 21

THE MILLS CHARITY FOR THEYEAR ENDED 31 JANUARY 2024 18. InveBtment Incom9 2024 2023 Dividends UK Equities Interest UK Fixed lrtteiest Securities Interest UK Unit Trusts Overseas Securth'es- Dividends Overseas Securrties- Interest Overseas Securrties- UTht Trusts Interest on Deposits Dividends UK Unit Trusts Diwdends Real Estate Investmont Trust 64,986 3.491 20,768 26.681 2,812 512 2,371 15,689 1,239 64,917 6,030 13,277 35,982 3,244 304 757 13,162 1,236 138,549 138,909 19. Resources expended 2024 2023 Payments re Almshouse3'. Rates, eleciricity. gas & water Gardener Insurance Repairs & Maintenance & alarms Donations- Turnerl Sheen dislributs.on Professional fees Govemance and 5UPPOrt costs Inolo 211 19.S77 6,234 3.232 38,435 757 16.411 7.$99 3.007 22.706 1,200 75,905 67,864 145,007 119.187 Let Pioperty". Insurance General maintenance and property costs R8le$ and Professional fees Gardener Rent Equiprnent hire Govèrnan¢e and support c¢sts (note 211 2,155 3.083 2,475 2,004 7,388 245 594 1,119 22.775 1,020 7,852 7.022 40.479 17,253 22

THE MILLS CHARITY FOR THE YEAR ENDED 31 JANUARY 2024 20. Grants- General Benent 2024 2023 FTFC Youth Séction Foamex Board TMC Vehicle The Scouts Association Frsmlingham Area Yolrth Action Plan Disposal ol the Framlingttam community centre fund Casile community Roorns- The Brick Fund Govemance and support costs (note 211 2,640 77 5.000 500 12,500 130 12.831 4,157 4,853 17,153 25,335 21. Management and admintstrdtton- Support and governane• costs 2024 Total 2023 Total Alm5 hou$9$ property Relièf in need General bQrbt Offe Gosts Staff costs Ti8velling Audit and Accountancy Fees Bookkeeping, payroll fee and other Bank ch8rses Insurance Professional fees Sundry expenses Depiecialipn of equipment Advertising Profivllgss) on disposal 8.752 37,288 102 21,814 4,307 121 606 604 2,023 354 136 90S 3.857 537 2,286 537 2.286 10,731 45,715 126 26,500 5,280 148 743 740 2,480 434 167 9,148 39.763 2,236 1,325 1,325 263 19,320 4,712 138 632 2.473 1,836 434 4.750 12 63 62 37 37 124 22 37 37 124 21 37 14 75,905 7.852 4,654 4,653 93.064 83.206 No. ofpropethes 29 32 32 The ba$1$ tst allo¢ation of the above goverrtaru and support costs were 90°1• alloc4ted to alms houses and t propety based on thè number of dwellings and 5°h lo each of the grants lor relief in need and general t¢n¢fit. 22. Grants- mllèf In need 2024 2023 Gr8nls- relief in need Governan atKI support costs Inote 211 2,053 4.654 1.606 4,163 6.707 5,769 23

THE MILLS CHARITY FOR THE YEAR ENDED 31 JANUARY 2024 23. Cash flowfrom operating a¢tlvltl•s 2Q24 2023 Net rnovements in funds DEpreciats"on IProfitll1055 on di$posal Market volue movements Income from investment$ 186,245 434 1,678 {40,8761 1138,5491 101,166 434 48.646 10,361 1138,9091 8.932 21,698 Incfease in debtor5 Increasel Idecreasel in creditors 174 52,708 15,9811 18.258 Nel generated usèd in operating aclivrties 61,814 33,975 24

THE MILLS CHARITY FOR THE YEAR ENDED 31 JANUARY 2024 STATEMENT OF FINANCIAL ACTIVITIES {PRIOR YEAR> Unre5trieted Funds R•strlettsd Endovmient Funds Funds Total Funds 2023 Total Fund 2022 Income and endowments fmm Investments Other Rents & wayleaves GTanls 138,618 291 138.909 104.083 223,437 223,437 201.735 30D,01)O Total Income 362.055 291 362.34S fA)5.818 Expendhure on Raising funds Investmènt management Charitable actiwties Almshousès Let propety expensès Grants- relief in need Grants- general benèfrt 34,629 24.629 31,OD2 118.694 17.253 5,769 12,374 493 119,187 17,253 5,769 25,335 106,295 191,055 4,014 9,492 12,981 Total expendlture 154,090 13,454 34,629 202,173 341,858 Net gains & Ilo$s¢sl on investments.. Realised Unrealised Gains on revaluation of assets 148,6461 {48,PA61 17,1901 110,3811 66.401 238,527 625,00tr 13.1711 Net IncomE 207,5 116.3341 {90,4651 101,166 1,193.888 Transfefs beeen fvnds 19,8811 9.861 Net movem*nt In lunds 198.11J4 116.3341 180.6041 101,168 1,193,888 Reconciliation of lunds: Total funds brought forward 886,188 3Q3.574 8,583,e44 9.773.406 8.579,518 Total funds carrled forward 1,084,292 287.240 8.503,040 9,874,572 9.773.408 25

).*lect Suitable accoun wliues and tIMn 8pplyth8rn corslstenuy,

4. Current year observations

As stated in our introduction, in section 1, our observations are based on the issues identified during our audit work and should not be considered a full list of potential system weaknesses. We have included these along with our recommendations for improvements. We will also discuss these with you during our audit completion meeting and then update the below for your comments.

----- Start of picture text -----
Observation Implication Recommendation Management comment
----- End of picture text -----

No additional observations identified in the current year of audit. See next slide for prior year observations.

5. Prior year observations

	Observation	Implication	Recommendation	Management comment
	Year end accruals There was an insufficient adjustment made for 2023 year end accruals within the accounts.	There is expenditure that should have been included within the 2023 accounts, that has not been processed until the 2024 accounts year, meaning a potentially lower than accurate expenses figure that has been declared. The amount was immaterial to the audit and has been included in unadjusted errors.	We recommend that all invoices for expenditure around the year and the following month are sent to the bookkeeping team in the timeliest manner possible.	In the year ended 2024 there was still expenditure that should have been included in the 2024 year but has not been processed until the 2025 accounts year. This amount was trivial and therefore not necessary to include on the unadjusted errors this year.
	Property Valuations The investment properties were valued midway through the year being 31 July 2022.	This meant the valuations had to be bridged to the financial year end through other external audit evidence.	We recommend that property valuations are taken place at the year end to reduce the need to bridge the valuations.	We acknowledge the flood incident that occurred in October 2023 and therefore are aware that valuation should be done after repairs to the properties affected.

2024-01-31-accounts

).*lect Suitable accoun￿￿ wliues and tIMn 8pplyth8rn corslstenuy,

).*lect Suitable accoun￿￿ wliues and tIMn 8pplyth8rn corslstenuy,

4. Current year observations

5. Prior year observations

).*lect Suitable accoun wliues and tIMn 8pplyth8rn corslstenuy,

).*lect Suitable accoun wliues and tIMn 8pplyth8rn corslstenuy,