2025-03-31-accounts

Rowland Hill Fund Tre charity for postal peop ROWLAND HILL MEMORIAL AND BENEVOLENT FUND ANNUAL REPORT AND ACCOUNTS FOR THE FINANCIAL YEAR TO 31 MARCH 2025 REGISTERED CHARITY NUMBER: 207479 Rowland Hill Fund c￿ ID.. 8C*b1ac726637a8eo84a4￿9d88a324)¢7ba026

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND CONTENTS REPORTS Page ADMINISTRATIVE DETAILS OF THE CHARITY MESSAGE FROM THE CHAIR REPORT OF THE TRUSTEES Mission and furtherln8 the charitrfs objectlves Structure, governance, and management Recruitment and appointment of Trustees Reserves and Investment policy Rlsk register Financlal revlew Publlc benefrt clause Statement of Trustees. responsibilities INDEPENDENT AuorroRS REPORT ACCOUIUS ststement of financlal activities Balance sheet Statement of cash flows Principle accounting pollcbes Notes to the accounts 13 14 15 16 19 Rowland Hill Furd Doc ID.. 6C*bf8c72883786ea84a4c£6&188d32abc7bg026

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND ADMINisfRATIVE DEfAILS OF THE CHARITY Charlty number 207479 Country of re815tratlon England & Wales Reglstered office and contact detalls Rowland Hill Memorial and Benevolent Fund Royal Mail 185 Farringdon Road, London, ECIA IAA 08Tr) 232 1762 V￿￿￿.rOwla￿dhl1IfUnd.org Trurtees Dale Haddon (a)airl Dr Shaun Davls (Deputy a)alrl David Blake Helen 8radshaw lan McKnight Kate Martln Louise Alexander Mel Tomlln Richard Poole Rodney Ja8elman Rob Fowler lappolnted March 20251 Sarah Collins {appointed March 2025} Mlchael Clarke lappolnted June 20251 Key mana8ement personnel Grace Owen {Executive Headl Dawn Molr (Case Coordlnator) Shan Lawrence IFundralsln8 & Reiatlonshlp Manager) Audltors Knox Cropper LLP, 6S Leadenhall Street, London EC3A 2AD Bankers HSBC UK Bank Plc, 31 Holborn, Holbom Clrcus. London ECIN 2HR Investment managers Ninety One UK Limited. 55 Gre5harn Street. London EC2V 7EL Ruffer LLP, 80 Virtoria Street, London SWIE SJL Page l of 22 ID.. 6Cebfae726637a6ea6484¢C69d88d32abc7ba026

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND MESSAGE FROM THE CHAIR The two-year operatlonal strategy, launched in 2024, has made significant progress, particularly with modernising the charity. We have introduced Lightning Reach, a new application system. which simplifies the beneficiary user journey whi15t introducing new Security measures for the charity. It also introduces an applicant to a wide range of additional support and resources, ensuring each beneficiary is supported effectively throughout the process. Thls Is a digital-first approach, which ali8ns fully with our operatSonal, legal and GDPR requirements. The Fund received over lo￿ inquiries to the helpllne In 24125. The Fund awarded 184 grants to 166 beneficiarles. at a total of £253,977. The amount awarded is a slight increase on the previous year 1£225,4571. Applicants continue to face complicated financlal challenges. whlch often include not only health and economic Issues, but the consequential impart on mental health. We have also Introduced Beacon CRM, which brin8S the or8anisation's entlre communlty Into a centralised database. For the first tlme. the charlty wlll have enhan￿d understandin8 of each donor and fundraiser. We look to build on this wealth of data in the next year. I would Ilke to give a special thanks to Royal Mail Group for thelr contlnued sUPPOrt of the Fund, particularly around donated servlces. These include support from departments IDcludln8 Bulldln8 Servlces, Pension5, Accounts Payable and HR Seprfices. I would also like to thank to the Post Office Remembrance Fellowship IPORF}, Civil Service Insurance Society ICSISI Charlty Fund and Commsave for their generous donatlons over the year. These organisations form part of our Corporate Sponsorship initiative, details of which can be found on our website. We are grateful for the contlnued support of our Patron. HRH The prIn￿$S Royal. Thank you to all our fundralsers and ambassadors across the year, without whom we could not do the work we do, i Fi(. Dale Haddon, Chalr Page 2 of 22 Cknc ID." ec7b*J28

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND REPORT OF THE TRUSTEES OUR MISSION To provide practical financial support to past and present employees of Royal Mail Group Ltd and Post Office Ltd in their time of greatest need. FURTHERING THE CHARITY'S PURPOSE5 To award one-off grants for specific needs To secure regular donations extemal supporters and donors, alongslde Royal Mall Group and POL employee5 and pensioners TYPES OF APPUCATIONS The nature of cases continues to be complex. with sl8niflcant connectlon between f inancial and mental health. Appllcants are signposted to additional resources via our website. We work closely with the Postal Family Fund. StepChan8e, SSAFA and Christians A8ainst Poverty. Requests Included support for utlllty bllls, rent, mortgage and councll tax. We recelved several appllcations from those navlgatlng long-lerm slckness andlor unexpected health challen8es. We have also awarded grants towards dlsablllty alds such as Electrlcally Powered Vehicles, home and heatln8 repairs, funeral expenses, white goods arKI travel tolfrom hospital. GRANT-MAKING POLICY The Fund asslsts Royal Mail Group Ltd and Post Office Ltd employees, pensioner5 and thelr dependant5. Applications are received from employees and pensioners through the RHF helpllne, as well as from other charitles and publlc sertor agencies. 8eneficiaries must be experlencin8 financial hardshlp and satisfy crlteria re8ardin8 their own financial resources. Help will be Sn the form of a one￿ff grant based on the applicants, clrcumstances and what Is required. BENEFICIARY CASE STUDIES Holty Holly needed to reduce her working hours to care for her ill partner. This led to slgnlflcant debt. After seeking help from Stepchange, she was advised to apply for bankruptcy. The Fund pald the bankruptcy fees. Page 3 of 22 Dr￿ ID.. 6Ctrdc728637a6ea84a4U)6&aa8d32c7b&026

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND REPORT OF THE TRUSTEES "Mymanager and Union Rep suggested the Fund, thank yorf. TIM has Stage 4 Grade 5 aggressive prostate cancer. in addition to arthrltls in his knees. This affects his mobility severely. The Fund contributed towards an elertric wheelchair and portable ramps. "rm very hoppy to shore my story. Thank you very muchfor your5upporf. Jacquellne Followlng a bladder cancer diagnosis, Jacqueline relles on a walklng frame. A glfted chair 12 years a80 was no lon8er suitable. and the Fund were delighted to provide a replacement electrlc recllner seat. "l am very gmtefvl to receive this new chair which is essentialfor me. Thank you so much". rRUCTURE. GOVERNANCE AND MANAGEME The Fund Is a reglstered charity founded as a pemianent memorial to the 8reat postal reformer Sir Rowland Hill. who retired as Secretary to the Post Offlce in 1864. Established in 1882, the work of the Fund Is govemed by its Trust Deed. The objects, as deflned by Its Trust Deed. are 'the relief of need among employees and former employees of the Post Office and their widows and widowers and other dependants throughout the United Kingdom suffering hardshlp as a result of poverty, age or Inflrrnirf. The pollcies of the Fund. a5 administered in line with the Trust Deed, are determined by a body of Trustees. The Fund assesses each application's need5 against Its standard crlteria, as laid down In Its grant makin8 policy. The day-tTrday running of the Fund Is carried out by a full-time Executive Head, a part.time Case Coofdinator, and a part-tlme Fundraising & Relationship Manager. The employees of the Fund prepare and review the cases, a selection of whlch are audlted by the Trustees fortnightly. Page 4 of 22 L)oc10.' 60ebfae72eé378e¢a8444L*69da8d328lx7ba028

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND REPORT OF THE TRUSTEES RECRUITMENT AND APPOINTMENT OF TRUSTEES The Nomlnatlons Commlttee. fomied of the Chair and t¥￿ other Trustees, is responsible for the recrultment and appointment of Trustees. The Committee ensures recruitment is carried out in an open and inclusive way, valuing and promoting dNersity, and enabling appolntments to be made in line with the skills required. New trustees are given an in-person IndUCt￿n from the Fund team. alongside external training if appropriate. They are presented wlth the latest Annual Report and mlnutes of the most recent Trustee Meeting. The Trustees meet quarterly to review the actlvities and performance of the Fund. They conslder current t￿ndS In contributions and donatlon5. On80in8 plans are prepared to take account of ever-changin8 donation levels, and the current investment climate, technological requlrements and the relationshlp with the employers. RESERVE AND INVEsfMENT POLICY The Fund policy, set by the Trustees, is to maxirnise the return on investment with minimum risk. The Trustees are confldent that the perfomiance of the current investment manager5 meets this policv. These funds Include the capltal reserves of the Rowland Hill Fund. the Sir James Whitehead Fund, the Second Post Office Relief Fund, and the Insurance Society of Post Offlce employees. The Trustees a conscious that re8ular staff and pensioner donations are reducing. and, in the fvture, more rellance may be placed on a combination of greater fundraising In Royal Mail {including focused sponsorship from the organisation) alongslde financing from investments. Funds are handled by two investment managers: Ninety- One and Ruffer. The current level of free reseThes stands at £5,655,02612024- £5.568.9911. We remain confident that we have fund5 to sustain both 8r?nt-making and operatlons for the foreseeable future. RISK REGIStER The Trustees regularly update the Risk Register. which details the prlnclpal risks affecting the Fund. It includes key current concerns, and actions to minimise the risks. It is reviewed annually. The key risk5 identified, and the artion taken to mitigate these are: Loss of Royal Mail Support. Royal Mail may withdraw benefits Includlng the Helpllne service, payment processes and accommodation. The Fund work5 closely with Royal Mail and are highly regarded by senlor executives withln the business. A reduction in RM ernployee donor5. The Fund holds regular fundraising initiatives to increase donations, whilst also introducing new fundraising streams. Page 5 of 22 Doc ID.. 6Cblac728637oea84a4o)69ts8d32*c7ba026

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND REPORT OF THE TRusfEES Insufficient reserves caused by negative investment returns. Investment reports are presented to the Trustees quarterly by the investment sub-comrnittee. Sudden increase in applications. The Fund maintains strong fundraising efforts and may conslder additional budgeting in the future, to mitigate unexpected demand. Loss of Corporate Sponsorshlp donations. We continue to liaise with our partners and malntaln 800d working relationships. Unplanned loss of key stsff. Thls Is mltlgated shariw of knowledge between staff members. Iv. vi. FINANCIAL REVIEW Summary of the overall Ilnanclal posltlon The Fund finished the year with a net deficit of £46.43512024- £92,114 defititl excludlng any gain/loss on our Investments. Under our Corporate Partnership Scherne, we reoived a generous donation of £SO,(XXJ from Commsave durlng the year. £45.000 from the Post Office Remembrance Fellowship IPORFI and £15,(XXJ from the Clvil Seryice Insurance Society ICSISI Charity Fund. Durlng the year we gave £253.977 in grants, whlch was more than the prevlous year. Flnanclal posltlon 2024125 2023124 2022123 2021122 Cornpar150n of Accounts Employee Contributions Pensioner Contributlons Other Contribution5 Total Donations from Royal Mall Group Staff and the Public Post Offlce Fellowship CSIS Charlty Fund Donation Commsave Donation Donated servlces from RMG Ltd Legacies Gift Ald Tax Rellef Investment Incorne Interest Income Sundry Income Total Incoming Resources 59.131 88,876 84,032 232.038 51,180 l(M),246 86.565 237,991 56,147 110.510 182,144 348.801 58,948 122,002 94,372 275.322 45,( 15.lYY) 50,0(K) 45,lYJ) 25,(KXI 50,0(K) 40.020 20,(KI) 25,CU) 60,1(K) 96.506 20,110 2,459 3,786 14.606 22,881 57,334 17.448 9,227 7.422 1.739 9,5fJ) 589,822 17.725 559,831 417￿10 417.9tM) Page 6 of 22 Chx ID.. 60ebl8c726637*a84a4cCfjgJa8d32abG7ba026

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND REPORT OF THE TRUSTEES Regular Grants One OffGrants Total Grants Paid Out 13.7501 1398,1751 1401,9251 {253,977) {253,977) 1225,4571 {225,457} 1308,5571 1309,4571 Costs of generating fund5 Support Costs linc Royal Mail Group Management and Administration Total Resourtes EM￿nded {64,740) 190.5341 154.6941 (463.945) 1109.258) 1120,681) 154.619) {510,014) 1108,0501 1122,4361 150,2521 1590.195) 1107,5521 1115.9751 147,9111 1673,363) Surp1￿/(De11dtj 146,435) 191114) 1373} 113,532 Investment p¢rformarKe The Fund's investments are held with Ninety-one and Ruffer, and Trustees monltored performance throughout. Income generated bythe underlying investments within those fund5 15 reflected in the value of the units held. At 31 March 2024 our portfolio stood at £5.244.98412024: £5,092,514), 5howin8 an Increase in value of £132.470. PUBUC BENEFIT CLAUSE The Trustees have taken account of ihe Charity CommissKn's 8uidelines regardfj￿ the publk beneflt th arlse5 In meeting the Charws alms. We will support employees, pensloners and dependants Irrespectlve of whether they tontrIb￿e to the Fund. The Trustees conslderthal thls represents a sl8nlflcant slie of populatlon ellglble for help. STATEMENT OF TRUSTEES, RESPONSIBiunES The trustees are responslble for P￿parIng the Report of the Trusiees and the financial statements In accordance wlth applicable lèw and Unrted Klngdom Accountlng Standards (United Kin8dom Generally Accepted Accountln8 Practlcel Includlng Flnanclal Reporting Standard 102 'The Financial Reporting Standard applicable In the UK and Republic of Ireland" The law appllcable to charltles In En8land and Wales, the Charitle5 Act 2011. Charlty (Accounts and Reports) Regulations 2(Q8 and the provisions of the trust deed requires the trustees to prepare financial statement5 for each financkl year whlch gbve a true and falr view of the state of affairs of the charity and of the Incomlng resources and application of ￿soUrCes. including the income and expenditure. of the charity for that period. In preparing those financial statements, the trustee5 are required to.. select sultable accountin8 policles and then applythem consistently observe the rnethods and principles In the Charty SORP Page 7 of 22 L¥Jc ID.. 60ebfac72e6378ees84a4cQ69da8d32a￿7b4O26

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND REPORT OF THE TRUSTEES make lud8ements and estimates that are reason•ble and prudent Prepare the financial statements on the goin8 concem basi5 unless it is inapproprSate to presume that the charrty wlll conllnue In business. The Trustees are resFKin5ible for keeping proper accounting ￿ordS whlch dlsclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financlal statements compty wlth the Charities Act 2011, the Charity IAccounts and Rewrtsl Regulation5 2((J8 and the provisions of the trust deed. They are also responsible for safeguardlng the a55ets of the tharity and hence for taklng reasonable step5 for the P￿ventIon and dÈtÈction of fraud and other irregularities. Approved on behalf of the Trustees: I pi(, Dale Haddon, Chalr Dats: 1211212025 Page 8 of 22 Ctt ID". fjC*btse726637aEea84a4d)69da8d32abc7ba026

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND INDEPENDENT AUDITORS REPORT oplnlon We have audlted the financial statements of Rowland Hill Memorial and Benevolent Fund (the 'charity'l for the year ended 31 March 2025 which comprise the Statement of Financial Activities. the Balan Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of signiflcant accounting pollcles. The flnanclal reporting framework that has been applied in their preparation is applicable law and ilnited Kingdom Accountin8 Standards {United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 The Financial Reporting Standard applicable In the UK and Republlc of Ireland,. In our opinion the financial statements: glve a true and falr vlew of the state of the charlty's affalrs as at 31 March 2025 and of Its incoming resources and application of resources, for the year then ended: have been properly prepared in accordance wlth Unlted Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 The Financial Reportlng Standard appllcable in the UK and Republic of Ireland,; and have been prepared in accordance with the ￿quirements of the Charltles Art 2011. Basls for oplnlon We conducted our audtt In accordance wlth Intematlonal Standards on Audltln8 {UKI IISAS IUKII and appllcable law. Our responsibilities under those standards are further descrlbed In the Audltors, responsibilities for the audit of the financial statements section of our report. We are Independent of the charity In accordance with the ethical requlrements that are relevant to our audlt of the financial statements in the UK, includin8 the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilitie5 in accordance with these requirements. We believe that the audit evidence we have obtalned Is sufflclent and approprlate to provlde a basss for our oplnlon. Concluslons relailng to 8olng concern In auditing the financlal statements. we have concluded that the trustees, use of the goin8 concern ba51s of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identrfied any materlal uncertainties relating to events or conditions that. individually or collectively. may cast signtficant doubt on the charlty's abillty to continue as a going concern for a period of at least twelve months from when the financial statements are authorlsed for issue. Our respon5ibilitie5 and the responsibilities of the trustees With respect to going concem are described in the relevant sections of this report. Page9 of22 Ifr. 8C*blaC72￿78￿a64aq(￿￿6¢￿32vknC7b@026

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND INDEPENDENT AUDITORS REPORT Other Infonnatlon The trustees are responsible for the other information. The other information comprises the information Included in the Annual Report, other than the financial Statements and our Report of the Independent Audltors thereon. Our oplnlon on the financial statements does not cover the other Information and, except to the extent otherwise expllcltly stated In our report, we do not express any form of assurance concluslon thereon. In connectlon wlth our audit of the financial statements. our responsiblllty Is to read the other Information and. in doin8 so. consider whether the other information 15 materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwlse appears to be materlallv mi55tated. If we identrfy such material inconslstencies or apparent materlal misstatements, we are required to determine whether this gives rise to a material misstatement In the financlal statements themselves. If. based on the work we have performed, we condude that the￿ is a material misstatement of thls other InformatSon, are required to ￿pOrt that fact. We have nothlng to report In this regard. Matters on whkh we are requlred to report by exceptlon We have nothing to report In respect of the following matters where the Charitles (Accounts and Reports) Regulatlons 2CX)8 requires us to report to you If, In our oplnlon: the Informatlon 8lven In the Report of the Trustees Is inconsistent In any materlal respect wlth the financial statements,. or 5ufflcient accounting records have not been kept; or the financSal statements are not In a8reement with the accounting records and returns,. or we have not recelved all the Informatlon and explanation5 we requlre for our audit. Responslbllltles of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees are re5pon5ible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosin& as applicable. matter5 related to going concern and using the going concern basis of accounting unless the trustee5 either intend to liquidate the charity or to cease operatlons, or have no realistic alternative but to do so. Pa8e 10 of 22 Doc ID." 608bf8c72e637*8a84a4c1169ja8d32&Je7b￿26

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND INDEPENDENT AUDITOIIS REPORT Our respon5ibllltles for the audlt of the flnanclal ststements We have been appointed as auditors under Sertion 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our oblectlves are to obtaln reasonable assurance about whether the financlal statement5 as a whole are free from material rnisstatement. whether due to fraud or error, and to issue a Report of the Independent Audltors that includes our opinion. Reasonable assurance 5s a high level of assurance, but is not a guarantee that an audit conducted in accordance wlth ISAS IUKI will always detect a materlal misstatement vthen it exists. Misstatements can arlse from fraud or error and are considered material If, Indlvidually or In the a88regate, they could reasonably be expected to influence the economic declsions of users taken on the basis of these financial Statements. Irregularities, includlnB fraud. are instances of non-compliance with laws and regulatlons. We deslgn procedures In line with our responsibilities. outlined above, to detect rnaterlal misstatements in respect of irre8ularities, Including fraud. The extent to which our procedure5 are capable of detecting Irregularities. includlng fraud 15 detalled below: The Charlty Is required to comply with charlty law and, based on our knowledge of its actlvities, we Identifled that the le831 requlrement to accurately account for restrlcted funds was of key slgnlflcante. We galned an understanding of how the charity cornplied with Its legal and regulatory framework, including the ￿quIrernent to properly account for ￿Stricted fund5, through discussions with management and a review of the documented pollcles, procedures and control5. The audit team, which is experienced in the audit of charitles, considered the charlty's susceptibility to material mi55tatement and how fraud may occur. Our consideratlons included the rlsk of management overrlde and the assessment procedures to validate bÈneflclarles. Our approach was to check that all restrlcted income was properly identified and separately accounted for and to ensure that only valid and appropriate expenditure was charged to restricted funds. This included reviewing journal adjustments and unusual transactions. A further description of our re5ponslbilities for the audlt of the financlal ststements is located on the Flnancial Reportln8 Council'5 webslte at www.frc.or auditorsres onsibilities. Thi5 description foms part ofour Report of the Independent Auditors. Pa8e 11 of22 rth ID.. ecebfae728837a8ea84a4iJJ69da8d32abc7b•)26

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND INDEPENDENf AUDITOIiS REpoKr Use of our report This report 15 made solety to the chariws trustees, as a body, in accordance wtth Part 4 of the Charities (Accounts and Reports} Regulatlons 21x18. Our audit work has been undertaken so that we might state to the charity'5 trustees those matters we are required to state to them in an auditor5, report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsiblllty to anyone other than the charity and the charity's trustees as a body. for our audit work. for th15 report, or for the opinions we have formed. Knox Cropper LLP Chartered Accountants and Statutory Audltors Ell8lble to act as an audltor In ternis of Sectlon 1212 of the Companles Act 2006 65 Leadenhall Street London EC3A 2AD QUVS Page 12 of 22 Ooc ID." e4kbfac72e637a6ea84a4ciKgJa8d328b¢7ba026

ROWLAND HILL MEMORIALAND BENEVOLENT FUND srATEMENT OF FINANCIAL AcllvrnES Statement of Financial Artivities for the year ended 31 Marth 2025 2025 Unre5trlrted Funds 2024 Unrestrlcted Funds Notes Income and endowments from: Donatlons and le8a¢les: Donations from Royal Mail Group Ltd employees, pensioners and public Donations from fjvll seNt￿ Insuran￿ Sodety a)arlty Fund Donations from Post Office Remembrance Fellowship Donations from Commsave Value of donated servlces from Royal Mail Group Ltd Legacies Glft Ald Tax Rellef Other. Interest Income Sundry Income Total 232.038 237,991 15,(KK) 45.(X)) 50,IJXI 251KX) 45,OCK) 60,OLX) 14.606 22,881 2,459 3.786 9,227 7,422 5,000 417.900 417.510 Expendlture on: Ralsln8 funds: Investment management fees Costs of generating voluntary income Charltable acti￿tIes. Grants payable in furtherance of the Fund's objects Support costs relating to grants and loans payable io {51,8751 1112,IXIII 1119,4331 1253.9771 190,535 {463,94S) 1225,4571 1120,6811 1510,0141 Net 8alns / Ilossesl on investments Net rnovernent In fund5 io 132,470 86,035 1161,2571 1253,3711 Re¢onclliatlon of funds Total funds brought forward Net movement in fund5 Total funds carrfed forward 5,568,991 86,035 5,655.026 5,822.362 1253,371 5.568.991 Page 13 of22 D￿lTr. 6C*btsc728637aeea84o4d)6￿8Bd32abe7baO26

ROWLAND HILL MEMORIALAND BENEVOLENT FUND STATEMENT OF CASH FLOWS Balan¢e Sheet as at 31 Marth 2025 2025 Unrestricted Funds 2024 Unrestricted Funds Notes Flxed assets Investments Current assets Debtors.. amounts falling due wlthSn one year Debtors.. amountsfalling due after more than one year Cash at bank and in hand 5,224,984 5,092,514 12.620 12,543 470,223 495.386 36,876 12,543 459,195 508.614 Uabllltles Creditors.. amount falling due within one year Net current a55ets Total net assets 13 165.3441 430.042 5.655.026 132,1371 476,477 S,$68.991 Thefunds ofthe Chaffty Unrestricted funds Total Charlty fund5 14 5,655,026 5,655.026 5,568,991 S,$68,991 The flnanclal statements were approved by the Board of Trustees and authorlsed for 155ue on 121 L2QLand were signed on its behalf by: Sl8nature: i Fio. Name: Dale Haddon Date: 1211212025 Page 14 of 22 Doc Ity. 6oeblac72￿37a6e884•4¢£fj9d88￿328bO7b8026

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND srATEMEMf OF CASH FLOWS Statement of Cash Hows for the year ended 31 March 2025 2025 2024 Cash flow5 from operatlng actlvlttes: Net cash provided byllused In) operating actr¥ities 1.801 176,2141 Cash flows from Investlng artlvltles: Dividend5 and interest received Net dislnvestment/linvestment) in portfolios Net cash provlded by/{used Inl Invertlng activities 9,227 7,422 51.87S 59,297 9,227 Chan£e In cash and cash equlvalents In the reportlng perlod 11,028 116.9171 Cash and &ish equlvalents at the beglnnlng of the reportlnz perfod Cash and cash equlvalents at the end of the reportlng perbod 459,195 470.223 476,112 459.195 Reconclllatlon of movement In funds to net cash flows frorn operatlfts aetlvltles: 2025 2024 Net movement In funds las per the ststement of fiMn¢lal actl¥ltles) Dividends and interest received Ilncreaselldecrease in debtors Increaselldetreasel In ¢￿dItOrs Unreali5ed Igains}/losses on investments Net cash provlded byl(used In) operntlng artlvltles 86.035 19,2271 24.256 33,207 1132,4701 1,801 {253,371) {7,4221 32,742 {9,420) 161,257 76.214) Page 15of22 Do¢ ltr. f￿1￿C726637a6e084a4rl)e90a8d32at￿7bdo26

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND PRINCIPLE AccouNllNG POUCIES I. ACCOUNTING POLlaES Basis ol preparation The financial statements of the charity, which is a publlc benefit enttty under FRS 102, have been prepared in accordance wlth the Charlties SORP {FRS 1021 'Accounting and Reportlng by CharltSes: Statement of Recommended Practice applicable to tharitles preparing their accounts in accordance with the Financlal Reportlng Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective l January 20191., Financial Reporting Standard 102 The Financial Reportin8 Standard applicable in the UK and Republlc of Ireland, and the Charlties Art 2011. The flnanclal statements have been prepared under the hlstorlcal cost conventlon, wlth the exception of investments which are Included at market value, a5 modified by the revaluation of certain assets. The Trustees conslder that there are no material uncertainties about the Trust's abillty to tontlnue as a 80ing concern. The financial ststements are presented In pound sterlln8. Incomlng reSou￿e5 Donations, legacles and donated services are recognised when entitlement, probable and measurable criteria have all been met. All incomin8 resources are stated gro55 of expenditure. Interest recelvable Interest on funds held on deposlt is included when receivable and the amount can be measured reliably by the charlty; this is normally upon notlflcatlon of the interest paid or payable by the bank. Resources expended Liabilities are recognised as soon as there is a legal or constructlve obllgatlon to Incur the expenditure. Commltments represent the grants and loans authorised by the Trustees but not paid at that date. Costs of 8eneratlng grants and loans are accounted for in the period in which they are authorised by the Trustees. Support costs comprise pr¢xessing grants and applications, including assistance to actual and potential applicants. Management and administration comprise costs for the runnlng of the Fund ttself as an organisation. Page 16 of 22 x1Tr. 60ebfac72eh37a6eae4a4cCfj￿aBd328t¢7ba028

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND PRINCIPLE AccouMllNG POUCIES Where costs cannot be directly attributed to either of these two categories it is estimated based on activity levels that 75% of non-staff costs are attributable to support costs with the balance attributable to management and administration. For staff, the costs of those working on case-work are regarded as support costs and the accountant as management and administration. In the case of the manager. it has been decided toapportlon her c05tsasone third to management and administration, one thlrdto SUPPOrt and one third to 8eneratlng funds. Donatkns of £ffts. ser¥lces and fadlitles Donated professional services and donated facilitles are recognised as income when the charlty has control over the Item or received the 5ep4ice, any conditions associated with the donation have been met, the recelpt of economic benefit from the use by the charlty of the Item Is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 1021, volunteer tlme Is not recognlsed, On recelpt, donated gifts, professional serv1￿5 and donated facilities are recogni5ed on the basls of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economlc benefit on the open market,. a correspondin8 amount15 then recognised In expendlture In the perlod of recelpt. Investments Investments are a form of basic financial Instrument and are initially recogni5ed at thelr transactlon value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised In the statement of financial activities. Investment 8ains and losses. whether reallsed or unrea115ed, are combined and shown In the headlng"Net gaSnslllossesl on Investrnent5" In the statement of financial act5vltles. The charity does not acqulre put optlons. derivatives, or other complex financial instruments. Debtors Debtors a￿ recognised at their settlement amount. less any provlslon for non-recoverabilitv. Prepayments are valued at the amount prepald. Loans recelvable ln excess of one year Loans to beneficiaries a￿ backed by an agreement to remit the balance to the Fund on death or sale of the beneflciarfs property oron leaving the service. Irrecoverable amounts are written off against the loan balances in the year in which they become irrecoverable. For the year ended 31 March 2025 no loan5 were written off12024- no loans were written offl. Pa8e 17 of22 tkx ID.. 6Cblac72e6378e¢a8414rf69da8d32abc7ba026

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND PRINCIPLE ACCOUNTING POLICIES Cash at bank and in hand Cash at bank and cash in hand Includes cash and Short term hi8hly liquld investments wlth a short maturlty of three months or less from the date of acquisition or opening of the deposit or slmilar account. Credltors and provisions Credltors and provisions are recognised where the charity has a present obll8atlon re5ultlng from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provislons are normally recogn15ed at their Settlement amount after allowing for any trade discounts due. Flnanclal Instruments The charity only has flnanclal asset5 and financial liabilities of a klnd that quallfy as basic flnancSal Instruments. Basic financial instruments are Snitlally recognlsed at transactlon value and subsequently measured at thelr settlementvalue. Pen$lons The charity operates a defined contribution penslon scheme. Contributions payable are char8ed to the Statement of fSnanclal artlvltles In the period to which they relate. Fund$ General funds are unrestricted funds which are avallable for use at the discretion of the Trustees In furtherance of the general oblertlves of the Fund and which have not been deslgnated for other purposes. Pa8e 18 of 22 Doc ID.. 60ebtac726637aeea84J4c£fjWa8d32ab¢7ba026

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND NOTES TO THE ACCOUNTS 2. LEGACIES Le8acies were receivable during the year to the value of £2,45912024 - £14,606) 3. IMfEREST INCOME 2025 2024 Deposit Accounts 9,227 9.227 7,422 7,422 4. GRANTS PAYABLE 2025 2024 The amounts payable In the year comprise: Lump sum grant payable Adjustments made In the year for commitments Closing off old pledges in the year Prevlous years grants refunded 251,779 9.763 16,8851 {6801 225,457 Total grants payable 253,977 225,457 Reconciliation of grants payable Commitments at l Aprll Commitments made during the year Grants paid during the year Adjustments rnade in the year for commltments Closlng off old pledge5 In the year Commltments at 31 March (Note 13) 251,779 {227,1191 9,763 16,8851 27.538 225.457 1225.4571 All commltments at 31 March are due within one year. 5. COST OF GENERATING VOLUNTARY INCOME 2025 2024 Salaries (Note 91 Advertisin8 Sundries Governance costs {Note 71 59.669 4,124 945 54,695 119,433 50,385 4.482 2,516 54,618 ill,coi Page 19 of 22 Ity. 8ctbfa¢728837a6e884a4cCfj￿a8d32Ok7bSQ26

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND NOTES TO THE ACCOUNTS 6. SUPPORT cosrs 2025 2024 Salaries (Note 9} Accommodatlon costs Welfare costs Other costs 32,320 16,875 37,SCX) 3,840 90.535 55,564 16,875 37.5(Kl 10.742 120,681 7. GOVERNANCE cosrs (INCLUDED IN NOTE S} 2025 2024 Salaries (Note 91 Accommodation costs Insurance Audit fees Accountant's fees Other costs 33.504 5,625 2.568 6,540 5,178 1,280 54,695 35,874 5.625 2,980 6,860 3.279 54,618 . RELATED PARTY TRANSACTIONS The Fund recelved the following donated services: Accommodation valued at £22,5C(112024 - £22,5CKII based on current accommodation costs, and the provision of welfare service5 at £37.5LKI 12024 - £37,5￿)). This amount has been Included In the statement of financial activitles under incoming resources in "Donated servlces from Royal Mail Group Ltd" and In resources expended under °Support costs relatin8 to grants and loans payable" in line wlth the Charities SORP IFRS 1021. In addition, the Rowland Hill Benevolent Fund benefits from the use of a number of services provided by Royal Mail Group Ltd which are not material to the accounts. These relate to the issuing of cheques to beneficlarles, the collertlon of donations via the Royal Mall Group Ltd pay units. and the provlslon of postage and telephones. The accommodation costs were re-visited durlng the year and based on the area of the office and rentable values in that area of London. It is accepted that the previous costs were based upon a larger offlce. Page 20of22 Ooc ID.. 6c*btsc726637aee884a4L￿9da8d32a￿7baO28

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND NOTES TO THE ACCOUNTS 9. STAFF cosrs 2025 2024 Gross wages and salaries Employerfs national insurance costs Employerfs pension contributions 110.870 6,768 7,854 125A92 122,763 11,582 7,478 141,823 Number Number The average number of employees during the year, calculated on a full-tlme equivalent basls, was: No employee received remuneratlon of more than £60.LKQ in elther year. No Trustee claimed travelling expenses durin8 the year. 10. INVESTMENTS The investment performance of the funds during 2024125 Isset out below. 2025 2024 Nlnety-one Market Value at 31 March 2024 Increase/lDecreasel in Investment fdlue Net Reinvestments / (Cash wlthdrawalsl during year Management fees Market Value as at 31st March 2025 2.181,788 50,543 2,197,169 115,8661 2,181.788 2,232,331 Ruffer Market Value at 31 March 2024 Increase/lDecreasel in Investment value Net Reinvestments1 {Cash wiihdrawals} durin8 Mana8ementfees Market Value as at 315t March 2025 2,910,726 81,927 3,108,477 {161.7421 (36,1J191 2.910,726 2,992,653 The Ninety-one investment consists entirely of units held in the Ninety-one Global Macro Allocation Fund l Acc whlch aim5 to provide total returns comprised of capital growth and income over at least 5 year5. The Ruffer investment consists entirely of units held 5n the CF Ruffer Absolute Retum Fund C which aims to provide capital appreciation through a diversified portfolio of investments. Unit values for both funds are inclusive of the impact of annual management charges. Management fees are separately incurred and Charged on the acquisition and disposal of units held in the funds by the charity. No unit acquisitions or disposals occurred in the cUr￿nt year. Pa8e 21 of 22 Doc ID.. 60eblo¢72e637a6ea8404rth9daed32ak7ba028

ROWLAND HILL MEMORIAL AND BENEVOLENT FUND NOTES TOTHE ACCOUNT5 11. INDEMNITY INSURANCE The insurance premium of £2,568 covers the cost of personal accident and the travel for the staff and Trustees, Trustees Ilablllty indemnity and employers, liability insurance12024 £2,980). 12. DEBTORS 2025 2024 Amounts fallln8 due wlthln one Y￿r. Prepayments Accrued income Donatlons due & fees paKI Legacies Glft Aid 567 12.053 13,589 13,567 9,720 36A76 12,620 Amounts fallln8 due after more than one ￿r. Individual loans granted 12,543 12.543 12,543 12.543 13. CREDITORS 2025 2024 Grants and loans authorised but not paid Amount due to Royal Mail Group Ltd Accruals Sundry creditors 27,539 26,447 11,358 16,171 12.373 3,593 32.137 65,344 14. FUNDS Fund5 comprise the capital reserves of the Rowland Hill Fund, which were established in the Trust Deed of 1882 together with the funds from the Second Post Office Relief Fund, the Sir Jame5 Whltehead Fund and the Insurance Society of Post Office Employees. The Second Post Office Rellef Fund was established to assist widows of those killed in the Second World War. However, the funds, which were incorporated in 1999. 4vere more than sufficient to provide this help. All of these widow5 have now passed away. The Trustees have designated all the funds as unrestricted. Page 22 of 22 DE￿ ITr. ei*bf8c726637a68084a4d)69J86d32￿c7tsa026