2025-03-31-accounts

THE MERCHANT SEAMEN’S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE

(A COMPANY LIMITED BY GUARANTEE)

FINANCIAL STATEMENTS

31ST MARCH 2025

Registered Company Number: 00428236

Registered Charity Number: 207500

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY {INCORPORATED) TRADING AS CARE ASHORE (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS 31ST MARCH 2026 Contents Page Referen￿ and administrative infomiation Chair's report Trustees, report Report of the auditor Statement of financial activities Balance sheet Cash flow statement Notes to the financial statements 10-12 13 14 15 16-25

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIEfY (INCORPORATED) TRADING AS CARE ASHORE {A COMPANY LIMITED BY GUARANTEE) REFERENCE AND ADMINISTRATIVE INFORMATION The Merchant Seaman's War Memorial Society (Incorporated) Trading as Care Ash0￿ was formed in 1947 as a company limited by guarantee. It is a charity, with the registered number 00428236. Trustees Mr V Bick, Chair Ms A Goo(tsin Mr A W Mackenzie (appointed 13 Decemb8r 2024) MrA C Speirs Mr C P Stracey (appointed 25 September 2024) Mr K Usher Mr R Walker (resigned 13 De￿mber 2024) Mr N C Waterson Company Reglstered Number 00428236 Charlty Reglstered Number 207500 Company secretary Mr J Nicholson Reglstered Offlce "Springbok-Radcliffe Springbok Farm Estate Alfold nr Cranleigh Surrey GU6 8EX Chlef executlve offlGer Mr J Nicholson Page 1

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIEfY (INCORPORATED) TRADING AS CARE ASHORE (A COMPANY LIMITED BY GUARANTEE) REFERENCE AND ADMINISTRATIVE INFORMATION (CONTINUED} Independent audltor Xeinadin Audit Limited 5 Robin Hood Lane Sutton Surrey SM12SW Bankers Natwest PLC Stocklund Square Cranleigh Surrey GUS BRH CAF Bank 30 Old Broad St London EC2N 1HT SoliGitor8 Penningtons Manche LLP Beaufort Hou88 31 Chertsey Street Guildford Surrey GU14HD Page 2

THE MERCHANT SEAIJIEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT Vlncent Bick, Trustee l am pleased to reF)Ort that 2025 has been another busy year and, despite Challenging operating conditions, has been one of the charty's best in recent memory. The charity has enjoyed greater stability as a result of our new Chief Ex8CUtive, Joe Nicholson joining in August 2024 who brings with him a breadth of knowledge and experience in providing excellent accommodation and services to older persons. In a firTancially strong position with healthy reserves and supported by the dedicated Care Ashore team and the committed and knowledgeable trustees, which includes 2 new trustees, Colin Stra￿Y and Alistair Mackenzie, we are well placed to deliver on our plans over the next 24 months to invest in the residential accornmodation to ensure all homes are fit for the future. A particular highlight of the last year was the successfvl completion of our first ever resident satisfaction survey. This data led approach has provided the charity with meaningful and statistically significant information from those we serve that will guide Ihe creation of a new strategic plan and help shape the services delivered. The ben8ficiary survey combined with the significant investment overthe year in complian￿, including a new fire risk assessment, legionella risk assessment and over £50,000 of new fire doors, generously funded by the M NWB, signal8 a clear direction of travel, where the safety and Service delivered to our residents come first. I wish to express my gratitude on behalf of everyone at Care Ashore to Richard Walker who stepped down from the board this year and to David Harvey who managed the charity so well as interim-CEO prior to Joe Nicholson's appointment. Your support and expertise have been crucial in propelling the charity to the position of strength we enjoy today. The impendlng costs of further Improvement works as well as the need to enhance the energy efflclency of our buildings in orderto move towards the Government's aim of being carbon neutral will all add subslantially to our costs In the next few years. Fortunately, our current financial strength allied with an excellent team gives me confidence that we will be able to meet these challenges whilst still providing a first-rate service to our valued residents. Hlstory of the Society Originally conceived by the founder of the National Sailors, and Fireman's Union, Mr J. Havelock Wilson C.B.E MP, in 1917 8 promlnent ship owner offered a building that was to become the first convalescent home for Merchant Seafarers in Limpsfield, Surrey. Wlth WWII increasing the number of those being permanently incapacitated, The Union purchased and converted their war time Headquarters, Sachel Court Estate, Alfold, Surrey into a permanent Rehabilitation and Training Centre as a memorial to those seamen who had lost their lives and in gratitude to those who survived but sacrificed their health by serving their country. At this time, the people of the Union of South Africa in their appreciation, through a Navy Week Campaign raised funds which were contributed to the scheme. From 1947 through to 1993 the training scheme re-trained seamen into either agriculture or horticulture, who then went on to successfully gain employment away from the sea. Since its inception, the charity has gone through a great deal of change though the core mission remains the same, to support seafarers. The organisation now focuses on providing sheltered housing and support to seafarers, with the provision of holidays for those who do not require long term acoommodation but would benefft from a break in the tranquil setting of the estate Page 3

THE MERCHANT SEAMEN'S WAR MEMORIAL socieTY (INCORPORATED) TRADING AS CARE ASHORE (A COMPANY LIMITED 8Y GUARANTEE) TRUSTEES, REPORT The Trustees are pleased to present their annual report (including the directors, report as required by company law) together with the audited financial statements of the charitable company for the year ended 31 March 2025. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's goveming document and the provisions of the Statement of Recommended Practi￿ (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Care Ashore's vision is to deliver high quality, support8d, residential accommodation to former seafarers and their dependants. ensuring all those who have a connection to the sea and are in need, have a home for life. In addition to providing permanent accommodation and welfare serrfices, the charity also facilitates respite stays for those wishing to recuperate on the estate. The Objectlves and Values of Care Ashore Objective8 The Objects of the Charlty are, for the public benefrt, to provide exclusively charitable support, seNic88 and grants to: those men and women who are or have been seafarers, and thelr dependants, who are in need of assistance by the provision of accommodation, financial allowances or grants and in such other ways as the Board think fit. and those men and women who are or have been seafarers and who are sick, disabled, aged or infirm or who require rest or convalescence by the provision and maintenance of a convalescent home or resl home or in such other ways as the Board think fit; and to otherwise extend its service8 to those persons having an appropriate connection with the sea as the Board thinks fit. PUBLIC BENEFIT The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011, in having due regard to the Charity Commission's General Guidance on Public Benefit in setting objectives and planning for activities and are reporting this h8re as they are required to do under the same diTeclwe. Maln activities undertaken to further the charity's purposes for the public benefit The high level of service delivered to the beneficiaries ensures that poverty, homelessness and isolation are reduced. The support provided to beneficiaries by the charity enables individuals to remain independent in their own homes for as long as possible, ratherthan moving into an additional care environment. The Trustees review the charty's aims and objectives each year to ensure the activities and seNices provided are in keeping with the core values of the charity, and, in 25126 will create a new strategic plan. The Trustees review the outcomes achieved over the past twelve months and evaluate the success of each activity provided, reviewing the benefits brought to those individuals on whom our services are focused. Page 4

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE (A COPdlPANY UMITED BY GUARANTEE TRUSTEES, REPORT STATEMENT OF FUNDRAISING PRACTICES Care Ashore benefrts from many people's generosity and we are extremely grateful for their continued support through donations, legacies and fundraising events. Due to the limited nature of the fundraising activities currently undertaken, the charity does notformally monitor compliance with the Code of Fundraising Practice. The charity does not consider that any of its fundraising activities constitute unreasonable intrusion on a person's privacy, unreasonably persistent approaches or undue pressure to give and has not received any complaints in respect of this during the year. The charty does not work with any commercial participators or professional fundraisers. ACHIEVEMENTS & PERFORMANCE Achievements for 2024.2026 The effective management of investments has ensured a new source of income to provide long tenTJ financial seourity. Completion of the guest room remodelling has improved the stsndard of accommodation offered and strengthened future income potential. New fire doors were installed throughout the principal residential accornrnodation, ensuring the safety of residents and visitors to the site. Improved approach to asset management, reducing repair times and getting thing8 "right first time. increasing resident satisfaction Appointment of a CEO experienced in delivering excellent customer service and service improvement programmes. Investment in a dedicated housing management System to improve compliance, governance and resident engagement. The completion of our first ever, independent, resident satisfaction surrfey yielded an overall satisfaction rate of 780 Volunteer8 Volunteering has grown significantly over the year in partnership with Voluntary Action South West Surrey. Volunteers have attended and generously helped to complete tasks in the grounds. undertaking cyclical decoration, gardening projects and even helping the charity restart its beekeeping programme. Alongside this. several of our residents regularly give up their time to assist the Estates team. Investment policy and performance The charity has over the years invested in properties that are let to raise income in support of its objectives. The return from these investments have been maximised with rent values Measured against market valuations in the lopAI area. Page 5

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT FINANCIAL REVIEW The result for the year shows a surplus of £164,009 compared to a loss of £348,062 for the prior year. The result for the year benefits from an increase in the value of inveslments (mainly our properties) of £453,600 (prioryear£85,252). so the underlying Ioss from operations would have been £289,591 {priory8ar £433,314). This demonstrates that progress has been made in reducing the deficit during the year and the trustees are confident that the year to 31 March 2026 will show even further progress. The charty held cash exceeding £3m at the balance sheet date, which is the cash figure on the balance sheet and the investment figLAre (cash deposits). The cash used in operations appears to be £689,232 (prior year £725,511) but the trustees would highlight that the charity generated £344,528 (prior year £281,385) from activities that are all designed to support the charity so the cash used in the year is Closer to £325,000 (prior year £445,000). Prlnclpal fundlng The main source of income is secured through the accommodatlon and buslness units on the estate. Our annexe in the main house provides a third of our income and accommodates some of our more vulnerable residents who benefit greatly from the facilities provided. These include having direct ac￿SS to staff, social room, library and most importantly our dining facilities which provide an essential social experience for our residents. There are times when exlernal influences have an impact on everyday operations, such as statutory payments being delayed that must be managed with consideration and care. Reserves Pollcy The trustee's policy is to maintain reseries at a level sufficlent to support both Capital Projects and a renovation programme, plus to build reserves such that there are Sufficient funds available to enable continued operations for a period of six months. Total funds at 31 March 2025 were £12,576,934 (2024.. £12.412.925) of which £28,400 (2024: £3,400) were restricted funds. Of the unrestricted funds held, £9,671,832 (2024.. £9,180,623) weTe tied up as tangible fixed assets and investment property. There are free reserves of £2,874,644 (2024., £3,228,902), Trustees will be deploying some of these funds for a systematic refurbishment and upgrading of the various properties on the estate, starting with refurbishment of beneficiaries, accommodation. As discussed later, the trustees continue to work on plans for the long term with the aim to increase income whilst delivering its services in an efficient manner in order to build up both the free reserves of the charity and income generating investments to diversity the income SoUr￿S of the charity. Rlsk Management The trustees have a risk management strategy that comprises of: A Finance Committee tasked with scrutinising the refreshed Risk Register every 6 months A regular review of the top risks conducted by the board Clear mitigation measures to minimise the potential impact on the charity should risks materialise The Trustees have assessed the major risks to which the charitable company is exposed, in particular those related to the operations and finances of the charitable company and are satisfied that systems and procedures ale in Pla￿ to mitigate our exposure to the major risks. A key element of the management of financial risk is the setting of a reserves policy and its regular review by trustees and the charity is more robust in this respect. Page 6

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY IINCORPORATED) TRADING AS CARE ASHORE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT Rlsk Management (contlnued) The Major financial risk has been avallability of cash to fund operatlons. Thls has been mltlgated by the reduction of costs, regular information, the drawdown of loan income and the land disposal to Thakeham (2023> for affordable housing which has recapitalised the charity. Particular attention is also given to non-financial risks arising from fire, health & safety of residents, staff and visitors and food hygiene. Golng concern After making appropriata enquiries, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concem basis in preparing the financial statements. Further details regarding the adoption of the going concem basis can be found in the Accounting Policies. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing DoGument The Merchant Seamen's War Memorial Society trading as Care Ashore is a charitable company limited by guarantee governed by its Articles of Association adopted on 2 June 2021. It is r8gistered as a charity with the Charrty Commission as charity number 207500. The prlnclpal objects of the charftable company are to provlde accommodation, financi81 support and a rest home for seafarers and their dependants. Appointment of Trustees The directors of the charitsble company (the Charity) are its Trustees for the purpose of the charity law and throughout this report are colleclively referred to as the Trustees. Members of the Board shall be appointed by the Board and selected for appointment primarily on the basis of the skills and experience required by the Board in order to carry out their responsibilities effectively in the best interest of the Charity. The Board when complete consists of at least 6 and not more than 12 persons, being individuals who are over the age of 18, all of whorn must support the Objects. If a member of the Board is a corporate body it must act through a named representative whose contact details are notified to the Board. The Chairman will be appointed as laid down in the Articles. Trustee Inductlon and Tralnlng New trustees undergo a period of orientation to brief them on their legal obligations under the charity and Gompany law, the content of the Memorandum and Articles of Association, the committee and decision making pro￿sS, the business plan and updated on the recent financial performance of the charity- During the induction period they will meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. It is intended that the four recently recruited Trustees will receive training in the next financial year. Page 7

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT Organlsatlonal structure and declslon maklng The board of trustees, which can have up to 12 members, administers the charity. The board meèts bi- monthty and the sub-committee meet more regularly to cover the development, membership, finance and audit. Th6 Chief Executive is appointed by the trustees to manage the day-to-day operations of the charity. To facilitate effective operations, the Chief Executive has delegated authorty, within the terms of their delegation approved by th6 trustees, for operational matters including finance, employment, and management of the complete operations of the organisation. Pay pollcy for senlor staff The charity's senior staff pay, and benefts are set by reference to the annual surveys of information from Incomes Data SeNices, local information or other relevant bodies and are consistent within the support and housing sector. The charity always aims to offer terms equivalent to or exceeding the market rate for the charity sector subject to its financial capability. Salaries are controlled and monltored by: a) Measurement Annual review and benchmarking of salaries and benefits through appropriate comparisons with other levant data. b) Reference: Incomes Data Ser￿iCe8, local infomiation or other relevant bodies and shall be consistent within the support and housing sector. c) Audit: Comparlson and calculation criteria held by CEO. PLANS FOR FUTURE PERIODS The trustees are focusing on the fLrture sustainability of the charity by generating income from the estate and by limited land disposals for housing to provide a solid capital base, with prudent investment planning. This will ensure Ihe service provided to the beneficiaries is of a high standard. The creation of a new strategic plan in 25126 will create a road map for the future of the charity, detailing how services will be delivered and accommodation upgraded to make every home fit for purpose. Page 8

THE MERCHANT SEAMEN'8 WAR MEMORIAL SOCIETY (INCORPORATEDI TRADING AS CARE ASHORE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom AcGounting Standards {United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming reSoUr￿S and application of resources, including its income and expenditure, for that period. In preparing Ihese financial statements, the Trustees are required to: select suitable accounting policies and then apply them conslstently,, observe the methods and principles of the Charities SORP (FRS 102)" make judgements and accounting estimates that are reasonable and prudent., state whether applicable UKAccounting Standards (FRS 102) have been followed. subjectto any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficientto show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that Iha financial statements comply with the Companies Act 2006, They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. DISCLOSURE OF INFORMATION TO AUDITORS The trustees who held office at the date of approval of this Trustees, Report confirm that. so far as they are individually aware, there is no relevant audit infomiation of which Care Ashore's auditors are unaware, and each trustee has taken all reasonable steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the Society's auditors are aware of the information. AUDITORS A resolution will be proposed at the Annual General Meeting that Xeinadin Audit Limited are to be appointed as auditors to the charty for the ensuing year. This report was prepared in accordance with the special provisions available to small companies, approved by order of the members of the board of Trustees and signed on its behalf by: Mr Vincent Bick (Chair of Trustees) Date.. Page 9

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE (A COMPANY UMITED BY GUARANTEE Oplnlon We have audited the financial statements of The Merchant Seaman's War Memarial Society (Incorpoiated) Trading as Care Ashore (the 'charity') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Ststement of Cash Flows and the notes to the financial statements. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicablg in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting practi￿). In our opinion the financial statements: give a true and fair view of thè state of the charitable company's affairs as at 31 March 2025 and of its incomlng resources and application of reSoUr￿S for th8 year then ended,, have been properly prepared in accordance with United Kingdom Generalty AC￿pted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of Ihe 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 that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial Statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfonned, we have not identified any material uncertainlies relating to events or conditions that, individually or collectively. may cast significant doubt on the Charity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other Information The other infomiation comprlses the Information included in the annual report, including the trustees, report, other than the financial statements and our auditor's report thereon. The trustees 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 extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibilty is to read the other infonnation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtsined in the course of the audit, or otherwise appearsto be materially misstated. If we identify such material inconsistencies or apparent rnaterial misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude that there is a material misstatement of this other infomiation, we are required to report that fact. We have nothing to report in this regard. Page 10

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE (A COMPANY LIMITED BY GUARANTEEI Opinions on other mattern prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of our audit., the information gNen in the trustees, report. vthich includes the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistenl with the financi81 statements,. and the directors. report included within the trustees, report has been prepared in accordance with applicable legal requirements Matter8 on which we are required to report by exceptlon In the light of the knowledge and understanding of the charity and its environment obtained In the course of the audit, we have not identified material misstatements in the directors, report included with the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you rf, in our opinion: adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us,. or the financial statements are not in agreement with the accounting records and retums; 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 trustees were not entitled to prepare the financial statements in accordance wilh the small companies regime and take advantage of the small companies exemptions in preparing the trustee8' report and from the requirement to prepare a strategic report. Responslbllltles of trustses As explained more fully in the trustees, responslbllltles statement, the trustees, (who are also the director8 of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they 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 misstaternent, whether due to fraud or eTror. In preparing the financial statements, the trustees are responsible for assessing the charity's abilty to continue as a going cOn￿rn, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate Ihe company orto cease operations, or have no realistic alternative but to do so. Auditor'8 responsibilities for the audlt of the flnanclal ststements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion, Reasonable assurance is a high level of assurance, bLrt is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misststement when it exists. Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Based on our understanding of the company, we identified that the principal risks of non-compliance with laws and regulations related to taxation, employment and financial reporting legislation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and Charities Act 2011. Page 11

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE (A COMPANY LIMITED BY GUARANTEE) We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management, considering the internal controls in place and discussion amongst the engagement team. We determined that the principal risks were related to: Valuation of investment property Identification of restricted expenditure Presentation of separatsly disclosed items Management override of controls In response to the risks identified we designed procedures which included, bLrt were not limited to: challenging the estimated valuation of investment property agreeing financial statemenl disclosures to underlying supporting documentation reviewing Trustees meeting minutes evaluating the charity's internal controls There are inherent limitations in the audit procedures described above. Th8 more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non- compliance. Material misstatements that arise due to fraud can be harder to detect than those that arlse from error as they may Involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financlal Reporting Council's wabsite at,. http.Ilwv￿.frc.org.UkIauditOrSresP0￿SIbIIitIes. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and regulations made under thatAct. Our auditwork ha5 been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assurne responsibility to anyone other than the charitable company and its members as a body, for our audit work, for this report, or for the opinions we have formed. Paul Newton FCA (Senlor Statutory Audltor) for and on behalf of Xeinadin Audlt Llmfted ststutory Audltor Chartered Accountants 5 Robin Hood Lane Sutton Surrey SM12SW Date: 24 October 2025 Page 12

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE (A COMPANY LIMITED BYGUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 Unrestricted Restrlcted Total Unrestrlcted Restrlcted Total Funds Funds 2026 Funds Funds 2024 Note INCOME FROM Donations and legacies Charitable activities Other trading activities I nvestments Other income 135,788 667,927 122,172 344,528 71,900 207,688 12,793 667,927 628,176 122.172 109,205 344,528 281,670 3,644 16,437 628,178 109,205 281,670 Total Income 1279 041 71900 1350 941 1039 839 3 644 1043 483 EXPENDITURE ON.. Charitable activities: Raising fvnds Charitable activities 154,715 9 1485817 154,715 146,422 1485 817 1330 131 146,422 244 1330 375 Total expendltu re 1,640,532 1,640,532 1,476,553 244 1,476,797 Gain on investment8 453 600 453 600 8525 Net Income 92,109 71,900 164,009 { 351,482) 3,400 (348,062) Transfers 46 900 Net movement In funds 139,009 25,000 164,009 (349,046) 984 (348,062) Reconciliation of fund8 Funds balances brought ft)rward 12 409 525 340012412925 12758571 241812 760 987 Funds balances carrled forward ILfil￿ aLaooiLfizL2aa IL1Q￿ aaooii£i There were no discontinued or acquired activities during the current year. Page 13

THE MERCHAMf SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE (A COMPANY LIMITED 8Y GUARANTEE BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Flxed assets Tangible assets Investments Inveslment property 13 15 14 1,071,933 16,439 8 583 460 9,671,832 1.053,907 15,516 8 111200 9,180,623 Current assets Stocks Debtors Investsnents Cash at bank and in hand 16 13,801 17 203,804 18 1,703,859 1 133 593 3,055,057 12,305 58,216 3 308 793 3,379,314 Creditors: amounts falling due within one year 19 { 149 955 147 012 Net current a888ts 2 905 102 3 232 302 Totsl assets less current Ilabllltles 12,576.934 12,412,925 Credltors: Amounts falllng due after more than on8 year Net a888ts Funds Restricted funds Unrestricted funds Total fund8 20 20 28,400 2 548 534 3,400 12 409 525 The financial statements were prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved by the trustees on 22 October 2025 and signed on their behalf by: Mr V Bick Chair of Trustees Company Number: 00428236 Page 14

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE (A COMPANY UMITED BY GUARANTEE) CASH FLOWSTATEMENT FOR THE YEAR ENDED 31 MARCH 2025 2026 2024 Cash used In operating actlvities (See below) (669,236) (725,511) Cash flows from Investing activitles Dividends, interest and rents from investments 295,123 Payments to acquire tangible fixed assets ( 77,645) Payments to acquire current investments (1,703,859) Payments to acquire investsnents 281,385 (68,180) Cash (used Inyprovlded by Investing actlvltles (1 ,505,964) 213.205 Cash flows from financlng actlvltles Repayments of Ix)rrowing Cash used in financlng actlvltles 878 636 Net cash outtlow (2,175,200) (1,190,942) Cash and cash equlvalents brought forward 330879 449973 Cash and cash equlvalents carried forward Cash flows from operating actlvltles 2026 2024 Net incomel(expenditure) Depreciation Dividends, interests and rents frorn investments Loss on the sale of fixed assets Gain on revaluation of fixed asset investments Increase in stocks Increase in debtors Increasel(decrease) in creditors Cash used In operating activitles 164,009 59,619 (344,528) (348.062) 48,798 (281,385) 4,888 { 85,252) { 1,726) { 12,438) 50 334 (453,600) { 1,496) ( 96,183) Page 15

THE MERCHANT SEAMEN'SWAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CAREASHORE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES 1.1 Basls of preparation of flnanclal statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102)- Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Merchant Seamen's War Memorial Society (incorporated) trading as Car8 Ashore meets the definition of a public benefrt entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transactlon value unless otherwise stated in the relevant accounting policy. The financial statements are prepared in sterling, which is the functional currency of the charity, and have been rounded to the nearest £1. 1.2 Company status The charltable company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charitable company. The company is incorporated In England with registered office of Springbok Farm Eslate, Alford, Cranleigh, Surrey, GU6 8EX. 1.3 Golng concern The trustees consider that there are no material uncertaintles regarding the charity's ability to continue as a going concern. In reaching that conclusion the trustees have considered any ongoing impact of COVID-19 and any economic downturn on activities and cashflows for a period of at least one year from the date of approval of the financial statements. The trustees have considered several scenarios that could occur over that period. Any repeat of COVID would affect the charity's ability to carry out normal operations. It would also generate negative cashflows In possible loss of room hire, catering operations and redU￿d investment income, offset by cost savings. Changes to the charty's service delivery model would also be required to ensure it continues to provide for the Tnost vulnerable. The trustees are confident that the strength of the charity's balance sheet- specifically the level of its unrestricted funds will ensure its ability to continue as a going concem for 8 period in excess of 12 months from the reporting date. 1.4 Income All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy 8XiSts when the charitable company has sufficient eviden￿ that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the propety in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the charitable company, can be reliably measured. Page 16

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (continued) ACCOUNTING POLICIES (continued) Income tax recoverable in relation to investsment income is recognised at the time the investrnent income is receivable. other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. 1.6 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activty are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct Costs attributable to a single activity are allocated directly to that aclivity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on basis consistent with the use of resources being the basis of staff time spent. Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating infomiation in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charilable company. Governance costs are those incurred in connection with administration of the charitable company and compliance with constitutional and statutory requirement8. Costs of raising voluntary income are costs incurred in attracting voluntary income, and those Incurred in trading activities that raise funds. Charitable activities and Governance costs are costs Incurred on the charitable company's operations, including support costs and costs relating to the governance of the charitable company apportioned to charitable activities. Grants payabl8 are charged in the year when the offer is made. No conditional grant offers are made. 1.6 Interest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charitable company. this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 1.7 Tanglble flxed assets and depreciation Tangible fixed assets are initially recognised at cost. After recognition, under the cast model, tangible fixed assets are measured at cost less accurnulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. At each reporting date the Charitable company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Page 17

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (continued) ACCOUNTING POLICIES (continued) Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following bases: Freehold property Motor vehicles Equipment 2_5 % on a reducing balance basis 250/0 on a reducing balance basis 25 % on a reducing balance basis 1.8 Flnancial Instruments The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 1.9 Investments Fixed asset investments are a fonn of financial instrument and are initlally recognlsed at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value can not be measured reliably in which case it is measured at cost less impairment, Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gainsl{Lo8ses) on investments, in the Statement of Financial Aclivities. Investment property Is carrled at fair value determined annually by the Trustees, derived from current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, locatlon or condition of the specrfic asset. No depreciation is provided. Changes in fair value are recognised in the Ststement of Financial Activities. Current asset investments are cash equivalents held on deposit where the maturity date was rn0￿ than 3 months and less than 13 months at the point of opening the deposit. 1.10 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs. 1.11 Debtors Trade and other debtors are recognlsed at the settlement amount. 1.12 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.13 Llabilities Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probably that a transfer of economic benefrt will be required in settlernent, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the mount that the charitable company anticipates it will pay to settle the debt or the amount it has re￿Ived as advanced payments for the goods or services it must provide. Page 18

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (continued) ACCOUNTING POLICIES (continued) 1.14 Operatlng leases Rentals paid under operating leases are charged to the Ststement of financial activities on a straight-line basis over the lease term. 1.15 Pensions The charitable company operates a defined conlribution pension scheme, and the pension charge represents the amounts payable by the chaiitable company to the fund in respect of the year. 1.16 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes. Restricted funds are funds whlch are to be usad in accordance with specific restrictions imposed by donors or which have been raised by the charitable company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENTS Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are b81i8V8d to be reasonable under the circumstances. Critical accounting estimales and assumptions: The charitable company makes estimates and assumptions concernlng the future. The ￿SUlting accounting estimates and assumptions will, by definition, seldom equal the relatod actual results. The estimates and assumptions that have a signrficant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. Tangible fixed assets are stated at their deemed cost less provlslon for depreciation. In determining the depreciation rate, estimates are made for the useful life of the asset and its residual value based upon factors such as the expected use of the acquired asset and market conditions. Investment properties are stated at fair value which is sensitive to fluctuations In the property sales and rental market. Page 19

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (continued) 3 INCOME FROM DONATIONS AND LEGACIES Unrestrlcted Funds Restricted Funds Totsl 2025 Total 2024 Donations Legacies Grants 4,829 4,829 8,200 4,593 130 959 71900 202 859 INCOME FROM CHARITABLE ACTIVITIES 2025 2024 Beneficiary accommodation and w8lf8re Rent and services Bar and social club 549,200 118727 515,855 112321 INCOME FROM TRADING ACTIVITIES 2026 2024 other fundraislng actlvlties Camping, clay shooting and fishing Solar panel Income 45,666 74,210 45,892 61,684 INVESTMENT INCOME 2025 2024 UK Investm8nt properties UK listed and unlisted investments UK Cash 268,950 196 271.710 285 OTHER INCOME 2025 2024 Profit on disposal of fixed assets Electricty recharge EXPENDITURE ON RAISING FUNDS 2025 2024 Allocated ￿ntrallY incurred costs Fund raising trading expenses Trading expenses 134,045 14,909 120,141 12,388 Page 20

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (continued) ANALYSIS OF EXPENDITURE Ralslng funds 2025 Charitable actlvltles 2026 Total funds 2025 Total funds 2024 Catering Social club and bar cost of sales Property Expenses Vehicle hire and expenses Office administration Legal and professional Bank charges Interest payable Wages and salaries National Insuran Pension cost (Gain)Iloss on disposal of Fixed Assets Depreciation Fundraising trading expenses Trading expenses Grants to beneficiaries Governance costs 10,333 10,333 101,506 101,506 453,947 498.843 25,111 27,594 50,054 55,004 113,437 124,656 10,418 11,448 9,003 97,919 430,226 18,753 105,912 116,090 8,608 32,050 515,538 43,091 10,942 4,888 48,798 12,388 13,893 44.896 2,483 4,950 11.219 1,030 57,526 5,390 1,185 581,656 639,182 54,494 59,884 11,983 13,168 5,366 20,670 54,253 3,677 59,619 24,347 2,033 2,033 10 AUDITORS, REMUNERATION Governance costs Include auditors, remuneration of £8,700 (2024: £8.300). 11 STAFF COSTS 2026 2024 Salaries and wages Social security costs Contribution to defined contribution pellslon schemes 639,182 59,884 515,538 43,091 The average number of employees durlng the year was made up as follows: 2026 2024 No. Average number of employees No employees received remuneration of more than £60,000 during the year. (2024.. 1 employee received remuneration between £70,000 and £80,000) Included in the above staff costs are redundancy payments totalling £nil (2024.. £20,000). Page 21

THE MERCHANT SEAMEN'S WAR MENIORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (continued) 11 STAFF COSTS (continued) Key management personnel compensatlon Key management personnel include those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly. The Trustees, the chief executive officer and the deputy chief executive officer are considered to be the key managernent personnel of the charity. Compensalion includes all employee benefits, including salaries. pension and benefits in lieu of their work as well as employer's national insurance contributions. The amount of compensation payable during the year In respect of key management amounted to £61,575 (2024: £79,022). 12 TRUSTEES, REMUNERATION AND EXPENSES During the year, no Trustees received any remuneration or other benefits (2024". £nil), nor were any expense8 reimbursed to them. 13 TANGIBLE FIXED ASSETS Freehold Motor property vehlcle8 Equlpment Total Cost At 1st April 2024 Additions Disposals At 31 st March 2025 1,542,037 6,000 427,290 77,645 1,975,327 77,645 1542 037 6 000 504 935 Depreciation At 1st April 2024 Provided for the year Disposals At 31st March 2025 576,525 20,079 4,577 340,318 356 39,184 921 .420 59,619 4 933 379 502 981039 Net book value At 31st March 2025 At 31 st March 2024 14 INVESTMENT PROPERTY Freehold Investment Property At 1 April 2024 Additions Disposals Revaluation At 31 March 2025 8,111,200 19.583 452 677 The investment properties were independently valued by Antholly Richard Jamieson MRICS, a RICS registered valuer for and on behalf of Clarke Gammon LLP in 2023. The value has been updated to a year end market value by the trustees using rates of increase published by RICS. Page 22

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (continued) 15 INvESTME￿rs Llstsd Investments Market Value At 1 April 2024 Revaluation At 31 March 2025 15,515 923 Included in investments is a £1 investment in the subsidiary Springbok Estates Ltd. 16 STOCKS 2026 2024 Food and beverage 17 DEBTORS 2026 2024 Trade debtors Other debtors Prepayments 87,991 74,816 41,166 8,979 18 CURRENT ASSEf INVESTMENTS 2026 2024 Cash on deposit 19 CREDITORS: Amounts falling due within one year 2026 2024 Trade creditors Other taxes and social security other creditors Accruals and deferred income 79,747 16,091 21,690 89,501 12,735 14,422 Page 23

'Ii I 000 10 000 *oo i<

THE MERCHANT SEAMEN'S WAR MEMORIAL SOCIETY (INCORPORATED) TRADING AS CARE ASHORE IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (continued) 21 ANALYSIS OF NET ASSETS BEfwEEN FUNDS- 2025 Restrlcted Unrestrlcted Total Tangible fixed assets Fixed asset investments Investment property Current assets Creditors due within one year 1,071,933 16,439 8,583,460 3,026,657 1,071,933 16,439 8.583,480 3,055,057 28,400 149 955 ( 149 955 ANALYSIS OF NET ASSETS BETWEEN FUNDS- 2024 Tangible fixed assets Fixed asset investments Investment property Current assets Creditors due within one year 1,053,907 15,516 8.111,200 3,375,914 1,053,907 15,516 8,111,200 3,379,314 3,400 147 012 22 COMMITMENTS UNDER OPERATING LEASES The total future minimum payments under non-cancellable operating leases are as follows., 2026 2024 Within one year Between two and five years 4.356 6,323 23 RELATED PARTY TRANSACTIONS There are no related party transactlons requiring disclosure. 24 PENSION COMMITMENTS The charitable company operates a defined contributions pension scheme. The assets of the scherne are held separalely from those of the charitable company in an independently administered fund. The pension cost charge represents contributions payable by the charitable company to the fund and amount&J to £13,168 (2024: £10,942). Contributions totalling £3,359 (2024.. £2,230) were payable to the fund at the balance sheet date. Page 25

Xeinadin Audit Limiled 5 Robin Hood Lane Sutton Surrey SM12SW Date: 22 October 2025 Dear Sirs This representalion letter is provided in connection with your audit of Ihe financial statemenls of The Marchant Seamen's War Memorial Society (Incorporatad) for the year ended 31 March 2025 for the purpose of expressing an opinion as to whether the financial statements give a true and fair view of the results and financial position of The Merchant Seamen's War Memorial Society (Incorporated) in accordance with The Companies Act 2006, The Charities Act 2011, and United Kingdom Accounting Standards (United lfjngdom Generally Accepted Accounting Practice). Financial statements Wa have fulfilled our responsibilities as trustees, as sot out in the terms of your engagement for preparing financial statements in accordan￿ with The Companies Act 2006, The Charities Act 2011, and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which JCS Accountants Limited have drafted on our behalf, which give a true and fair view of the financial position of The Merchant Seamen's War Memorial Society (Incorporated) as of 31 March 2025 and of the results of its operations and its cash flows for the year then ended and for making accurate representations to you. We confirm that the methods, significant assumptions and data used by us in making accounting estimates, and the related disclosures, are appropriate to achieve recognition, measurement or disdosure that is in accordance with the applicable financial reporting frarnework. We confirm Ihat we have based our aBsessment of any material changes in the revalued amount of investment properties, on a reasonable basis informed by professional or other suitable advice. We have no plans or intentions that may materially alter the carrying value and where relevant the fair value measurements or dassification of assets and liabilities refflected in the financial statements. We have disclosed all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements and these have been disclosed in accordance with the requirements of accounting standards. Related party relationships and Iransactions have b￿n appropriately accounted for and disclosed in accordan￿ with the requirements of accounting standards. All events since the balan￿ sheet date which require disclosu￿ or which would materially affect the amounts in the financial statements have been adjusted or disclosed in the financial statements. We confirm the financial statements are free of rnaterial misstatements. including omissions.

We confimi that, having consideied our expectations and intentions for the next twelve months, and the availability of working capital, the charity is a going con￿rn and no further disclosures in the accounting policies are required to justify why the financial statsments should be drawn up on a going concem basis. 10. We confirm that the trustees, remuneration are correctly stated in the financial statements. This includes all remun8ration and beneffts accruing during the year. 11. We have carri8d out an annual review to consider the useful economic life and estimated residual valu8 of the freehold properties held by the charity. We consider any depreciation arising to be insignificant and immaterial. 12. The stock of goods and work-in-progr8SS 18 based on physical quantities detemiined at 31 March 2025 by actual count by competent employees under proper supervision. These stocks do not include any items invoiced to customers but still on the premisos, any items retumed by customers for which credit notes have not been issued and recorded, or any items held on behalf of others, but do include goods held by others on our behalf. The stocks are priced at the lower of cost or net realisable value. Goods which are imperfect, obsolete, static OT slow moving have b￿n priced at estimated net realisable value when this is lower than cost. 13. We confim that the charity had not contracted for any capital expenditure other than disclosed in note 16 of the financial statements as at 31 March 2025 . Information provided 14. All accounting records and relevant information have been made available to you for the purpose of your audit. We have provided to you all other information requested and given unrestricted access to persons within the entity from whom you have deemed it necessary to obtain audlt eviden￿. All other records and related infomation including minutes of all management and shareholders meetings have been made available to you. 15. All transactions undertaken by the charity have been properly reflected in the accounting records and are reflected in the financial statements. 16. We acknowledge our responsibilty for the design, implementation and Maintenan￿ of controls to prevent and detect fraud, and that V￿ believe we have approprtately fulfilled these responsibilities. We have disclosed to you the results of our assessment of the rlsk that the financial statements may be materially misstated as a result of fraud. 17. We have disclosed to you all information in relation to fraud or suspected fraud that we are aware of and that affects the entity and involves management, employees who have significant roles in internal control, or others, where fraud could have a material effect on the financial statements. 18. We have disclosed to you all infomation in relation to allegations of fraud. or suspected fraud affecting the entity's financial statements communicated by employees, former employees, analysts, regulators or others. 19. We confirm that we are not aware of any possible or actual instance of r￿n-comPlIan with those laws and regulations which provide a legal framework within which the charity conducts its business and which could affect the financial statements. The charity has complied with all aspeGts of Contractual agreements that could have a material effect on the financial statements in the event of non-compliance. 20. We confirm that we have disclosed to you the identity of the entivs related parties and all related paty relationships and transactions relevant to the charity that we are aware of. 21 . The charity has satisfactory title to all assets, and there are no liens or encumbrances on the assets except for those disclosed in the financial statements.

1. There are no liabilities, contingent liabilities or guarantees to third parties other than tho disclosed in the financial statements.
2. We approve the schedule of adjusting joumals made, as included in your audit findings reporL
3. The charity has at no time during the year entered into any arrangement, transaction or agreement to provide credit facilities (including loans, quasi loans or credit transactions) for trustees, nor to guarantee or provide securty for such matters, except as disclosed in the financial statements.
4. All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions during the period in the application of such income. We confirm to the best of our knowledge and belief that the above representations ara made on the basis of enquiries of management and staff with r818vant knowledge and experien￿ and, where appropriate, of inspection of supporting doGumentation sufficient to satisfy ourselves that we can properly make each of the above representations to you. We acknowledge our legal responsibilities regarding disclosure of information to you as auditors and confirm that so far as we are aware, there is no relevant audit information needed by you in connection with preparing your audit report of which you are unaware. Each trustee has taken all the steps that helshe ought to have taken as a trustee in order to make himselflherself aware of any relevant audit information and to establish that you are aware of that information. Yours faithfully Signature: Slgnature.. Name: LIST Name: Signed on behalf of the Board of Trustees The Merchant Seamen's War Memorlal Soclety (Incorporated)