King Edward Vl Almshouses King Edward Vl and the Reverend Joseph Prime Almshouse Charity Annual Report and Financial Statements Year ended 31 December 2025 The King Edward Vl Almshouse Charity offers homes for local people ot modest means and on a low income Charity registration number.. 210590 Contents Page Welcome from the Chair Charity Reference and Administrative Details Trustee's AnnuaL Report Independent Exdtniner's Report Statement of Financial Activities 12 13 Balance Sheet 14 Notes to the Financial Statements 15 Welcome from the Chair The last year has been challenging, but has proved successful. with 8 number of our existing properties being updated and major rep8irs carried out on the roofs and chimneys ol our Abbey Lane properties. Now Project Crocus has been granted p18nning permission forthe demolition ol our seven Primes Close bunRalows and the potential construction of our new replacement block which will include 16 new flats, we have been focussing on rsising the necos$•tyfunLls to enable us to start con- -truction. Duringthe ye8r. we have concentr8ted on improvingthe emph2sis on health and safety for our est8te by running through the ar.tinn8 givp.n tn ij* by oiir specialist consult8nts, Worknest. Following tho gudit, we ra¢eived a fcw minor uugg¢stiona as to how to improve things further, but oveiallworknest deemed us to be in good shape. Our Health, Safety & Compllance Manager followe¢ up on tne recommendations made and installed suitable systems to ensure we maintain good health and satety practices lorthe future. The Board worked on expanding 8nd Improvlng our short- and long-term strategy, with rhe locus remaining on our residents and a long-term sustainable future. The Charity holds to heart its mission of providing safe, affordable and well-maintained housingto those residents In neèd, supporting them to Ilve with dignity, gecurity and a sense of Community. We have worked with consultants S8ffer Cooper and our solicitors HCR Law to modernise and streamline governing documonts, and formally adopted thc Charity Ctsmmi?sion govern8nce cod¢. Thi3 process has formed part of our application lo become a registered Provider of social housing, which allows us lo show our commitment to providing secure and affordable houslng. I would like to thank our small team of very hard-working staff for their tremendous work duringthe year. They care so much ror our resiaenis and offer uaiiy support to tmem, as well as to our Board of Directors. I woul(5 also like to share my appreciation for our Directors, many of whom are new tn thp Bnrird. fnr giving Rn miich ol their tim9 totally voluntarily to ensure that our almshouse buildings and residents are looked 8fter as well as possible within the resources available to us. That is especially the case for those Directors who have worked so tirelessly on getting Project Crocus successfully through the initial design and planning stage and then into the fundraising phase. Finally I would liko to thank staff and DireGtors who have left in 2025 for their hard work and dedication. GaryHyams Chair of the Board ol Directors King Edward Vl Almghousts King Edward Vl and the Reverend Joseph Prime Almshouse Charity Charity Reference and Administrative Details. Year Ended 31 December 2025 Charity Name: The King Edward Vl and the Reverend joseph Prime Almshouse Charity Charity Registered Number: 210590 Almshouse Association Membershlp Number: M858 Address of PTinCiP¢il Office: Almshouse Office. Abbcy Lunc, Saff ron Walden. Essex, CB10 1 DE Trustee: KEVI Corporate Trustee Limited KEVI Corporato Trustag Limited ig a private company limited by guarantee registered at Companies House with the company number 10178525. The Directors who served for KEVI Corporate Trustee Limited during the year ended 31 December 2025 and at the date this report was approved are as follows= Gary Hyams Diana Drury Chalr Vice e.hAir Maurice B8lfe Jaiiet Craft Fiona Donaldson Peter Gibson stephen Hasler Michael Hibbs John Hunt John Kerr Julian Kimberley Rache81 Leveridge Debra M8nchip Arthur Moore Simon Oughton Belinda Thorogood Trevor Vincent Malcolm White Colin Woodward Retired 17 February 2025 Appointcd 7 May 2025 Appointed 13 May 2025 Appointed 13 May 2025 Appointed 29 July 2025 Appointed 29 July 2025 Company Secretary: Business Manager: Estate Manager: Fundraising Manager: Health, Safety & Compliance ManaEer: Ray Parrott Lisa Morrissey Victoria Duke Jake Brigham Retired 27 November2025 Appointed 6January 2025 Ray Parrott Retired 27 November 2025 Bankers: Barclays Bank Accountant: uenrens, Abbey House, 51 Higli Street, Saffron Walden, Essex CB10 1AF Solicitors: HCR Law, Lancaster House, Nunns Mills Road, Northampton. NN15GE King Edward Vl and tho Roverond Joseph PrimeAlmshouse Charity Trustee's AIiiiu(Il R¥pDrt. Yviir Ended 31 December 2025 The Trustee presents the annual report of the Charity for the year ended 31 December 2025. The flnanci81 statements have been prepared in accordance with the accounting policie5 set out in the notes to Ihe accounts and complywirh the Charity's governing document. the Charities Act 2Q11 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable io charities preparing their accounts in accordsnce with the Financial Reporting Standard applicable in the UK and Republic of Ireland, publlshed in January 2022. Objective5 and activities I ne King kQward Vl and Reverencl joseph Prime Almshouse Charity's objects are.. The provision ol almshouses for beneficiaries Such ch8rit8ble piJrpos¢8 lor the benefit of the residents as the Corporate Trustee decidgs The Charity's activities are the provislon and maintenance ol almshouses for beneficiaries, who must be people who are in ncod, hardship or diatre83 end whts are resident in- or have close links to-the former boi"ougli vl Sdllivii Waldeii iri Essex. Although many of the residents are older people, the Terms of the Trust do not discriminat8 on age 8nd there is a current need to hoLJse single, younger people. Where possible, the Charity applies for granls to assist with Improvements to the estate. These activities are considered to be lor the public benefit and in running the Charlty, the Corporate Trustee has regard for the Charity Commission's guidance on public benefit. ApplicAtittn nt ine.omo The Charity's nel income Is applied first to insure, reD81r. restore and meet all other outgolngs in respect of its DrDPèrtiés and all proper costs associated with the Charity's administrJtion and management. There8fter, net income of the Charity shall be applied for it6 beTreficiaiie5. Achievements and performance The 12 months to December 2025 were another successful year for the Charity. Below are some of the hlghlights e.ov8ringthe following ar@as'. Property ancl building fabric Residents Finance Project Crocus Fun(Iralslng Invp..%ting in r.nmmiJnip.Ations HR Proporty and buildingfabrio {ovorscen bythe Fobrio committee) The Charity ttnntiniJp.d it8 pnlir.y nf invRgtmpnt in rnaintaininE 2nd repairingthg fgbrie ol its buildingg throughout ?025. Sat out below are the key examples of work undertaken during the year.. Creating new rainwater downpipe conn6¢tions and gullies from roofs to connect to below-ground drainage Continuing repairs 8nd replacement ol tailed sections of drainage Rgpairing 100ge gravel pavingextornally Completion of repairs to roofs, parapeis and chimney stacks Further re-pointing of external walls and the replacement of failed bricks Me%lbUlVb Lu pr¥veni peneir8iion INTO the buiidlngs wnere POSSlbie Damp-s)roofing measures within th9 9.xtp.n.8ivp r.p.IIAr.8 tn thp. mAin hijildlng Repairs and redecor8tion of windows, which is an ongoing project King Edward V and the Reverend Joseph Prime Almshouse Charity Trustee's Annual Report, Year Ended 31 December 2025 Replacing ageing 0113iled boilers and replacing them with new higher-etficiency models Replacing ageing kitchen and b2throtsm fittings, elong with the redecoratlDn of flats as they b8Game etnpty. prior to their re-octtupation As reported 18st year, these rep8lrs have been und8rteken on 811 bulldings except the Primes Close bungalows, which are due for demolition. We continue to work with our new external Healin & Safery Luiibull8llt5 in revi¢wing and improving our cxisting H&S policies and the prnvi*inn nf sdditional policies as necessary. Residents Isupported by the House Cviiiinitteel OVEI Ilit vast twtlvB montho, the Hou￿7¢ Committaa has worked with the r.harity'g %t3ff team to review several Important matters in relation lo residents.. We welcomed a record seven new residents to the Almshouses and they have all settled in well. Maintenance contributions from residents are reviewed annuglly and Gompared 2£ainst local market rates, other provlders of affordsble housing, and the Loc21 Housing Allowance. We have installed a defibrillator at the back of site for use by residents and the public and it has already been accessed twice. We have developed new partnerships with several local org8nisations Ih3t offer a range of support services lor our residents. I hese incluae Ihe urtlesfurd Fvutj Baiilc Ifood and groceiicsl, United Chsritios Igrantsl, the S21vatinn Army irtrnp-in centre and granEsI, UCAN (independent living supportl, the Jubilee Hub Idrop-in centrel, and TouchPoint Ifoodl. The Charity's staff team are to be given p8rticu12r thanks for their hard work, dedication, and the w8y they 8ttend to the needs of the residents with care and compassion. The Charity continued to support its residents through.. Sm811 gifts dlstributed 8t Christmas and Easter. alongwith birthday cards A bi-nionthly n¢w3letter kceping regidentg informed of local pvp.nlq, fnod sharos, wellbeing hubs and site news Finance 2025 was a ple8singyeartor the Charity from a finan¢ialviewpoint. Income exceeded expenditure on normal 8Gtivities and a number of specific improvemeni projects, including planned progress on Project CrocLJS. werg fully funded by donJtion8 and grants 8lons with inv?.qtmÈnt gains. 0￿￿ett incr8as•d by £51 k from P?.?qm in 2024to 22.34m at the end of 2025. Ov¥1 dll. tlie velue of the Charity'_ Income Irom normal acTlvliles lose by £85k from £32Gk in 2024 to £3611( in 2026, primarily due to incre3geA rp.8idpnt contribiition* rgduced voids. Expenditure was well controlled and held flat at £328k vs £327k in 2024. Addition811yi a numbcr ot BP8cifie non-core imprnvp.mp.nt projects were completed in the year, includingflat refurbishments and the introduction ol full lighting projection lor the main buildings, along with the ctsnlinued progression of activity associated with Project Crocus. Tot81 costs of £1 b9k on tliese activlties was Dllset by grant5 and doiiatioiis received of £65k and investment gains of £122k. Investments at the end ot the year stood at £1.48m. In line with the Charity's pollcies. the vsrious reserves were reb¥l•nced at thp yp.ar end. £912k of the £1.48m investments will be allocated to Project Crocus, £198kto cover future specific improvement projects, 3nd £370k held against extraurdinary event5. 2026 will see increased activity and exppnditure on Project Crocus as planning conditions are satisfied and the project is tendered. Subject to tull funding beifjg available for the proiect, ¢onstruciion contraGis will b¥ ¥igiied at the year End. enabling building to ¢ommonce in 2027. King Edward Vl and the Reverend Joseph Prlme Almshouse Charity Trustee's Annual Report, Year Ended 31 December 2025 Project Crocus The Charity contlnued to workto replace the seven flats in the Primes Close bungalows with 16 new, energy-efflclent flats in a new two-storey building that is in keeping with the main almshouse buildings. The aim of this important init12tive is to replace the failed units and to increase the nutnbei of properties available to suppoit local people in The main locus of the DrojÉr.t ditsiing ?A?4 w2.% nn fiindraising xnrl to start to discharge some of the conditions of the planning approval dchieved in 2024, all of which are standard and 8s expected. The project remains on target lor worl< to 51ari on 31ie In late 2026 or In 2027, WITn completion antj tirsi residenis moving In auring the second half ot 2028. Fundraising Our full-tlme fundralser joined the charity in January 2025. During the year, donatlDns and pledges totalling £165k were received towards our PrDject Crocus campaign. Fin8nci81 support has been pledged by Uttlesford Distrirt Council, with additional m8lor don¢tions and pledges recelved from the William Allen Trust. Frank Litchfield Trust. NFU S8ff ron Walden, The Hobson Charity, the FSI Charitable Trust, and Walden Capital, as well 8s both S8fFron Walden Rotary and Round T8ble. A signific8nt number of donations were Ign rp.r.p.Iv?.rl frnm lnr.al hii.*ifjp.%sFs #fjcl illdividualg throughout the yegr. 2026 will see the launch of our public fundr2i.%ing r.2mp2ign A niJmh?.r nf lnp.al p.nmmiinity pvpnts gre planned with the 8im of closing the funding gap for Project Crocus, enabling the construction of the new flats to start in early 2027. Investing in communications DurinR 2025, the charity's Communications Advisory Group moved to meeting bi_monthly to review and plan engagement opportunities with its residents and the wider community. Highlights during the year Included.. Implementing substanti81 upd3tes to the Charity's website to improve user experience and support fundrai81ng for Project Crocus. Completing specialist tr8lning with a local social media and digital m2rketin£ expert, which informed the development ol a new approach to the use of social media, enabling us to engage more effectively and more frequently with our lo¢al communilies. whilst also driving use of the new wBb51te as the definitive source of information. Leveragillg national media ¢over8g8 following The Sunday Tirnes naming S8ffron Walden the best placp to live in England. Thi- rccognition gencrot¢d wider pre88 intere3t in the Alm8hovse3 #nd re3ulted in features on DDC Radio 4's You end Yours and in Woman & Home. both of which highlighted tho Charity's work through the experlences of one ol its residents. Throughout the year, the Charity received and accepted sever81 opportunities to give talks to local groups and nrEAniRAtinns. whir.h will p.nntinii8 to be an area of focus goingforward. HR In 2025. the HR Gommittee became an est8blished element of KEVI'S governance structure. The Committee meets quarterly and reports to the Full Board. As its workload has incfeased exponentlally, an additional member has been recruited. This 8150 reflects the tact that most members already have the major responsibilities of chairing other Gviiiiiiille¥s. Tli¥ Cliiall ib dlsu VILE Ghalr of the Board. With the support of the Health, Safety & Compliance Nanager, the Committee have credted and reviewed HR policies and established a Ris1( Register which is checked at each meeting. The Committee have also been busy recruitinE new Directors and a replacement for the Corllpliance Manager. The appraisal and sal&ry review processes have been brought forward to c￿￿Ure that th¢ HR Gommittee'3 recommendations 8re pres¢nted to the linance Committee at an appropriate time for their budget-setting process. The HR Comfflittee Chair has 8ccessed Bdvice and support from an HR Consultant- NTR-HR. This has proved invaluable in helping the Committee lo keep up to date with ever-changing legislation. The consultant has undertaken a comprehensive HR Health ChF.ck to support the evaluation of the Committee's work. The outcomes of this have been KingEdward V and the Reverend Joseph PrimeAlmshou$eCharity Trustee'sAnnual Report, Year Ended 31 December 2025 very positive and have helped to identify furiher developments that are required. The HR Committee Chair and Business Manager are usingthe Health Che¢k to assess HR documents going forward. A major piece of workfor 2026 is to plan training for our Estate and BLJsiness M8nagers to achieve the CIH Leve14 Certificate in Housing by October 2030, whi¢h is a requirement of the Regulator of Soclgl Housing. Kiiig Edward Vl and the Reverend Joseph PrimeAlmshouse Charity Trustee's Annual Report, Year Ended 31 December 2025 Financlal review The Charlty's financial posltion is as set out in the balance sheet on page 14 and is consldered saiisfactory. Reserves policy The Charity's nnlicy on r&$erves is ro maintain 8uffioicnt but not ¢XG655ive re6etveb lu ttri EO 2[> rorm part of these fina ial state nls. 14 King Edward Vl and the Heverend Joseph Prime Almshouse Charity Notes to the Financial Statements Year Ended 31 December 2025 1 Summary of signlticant accounting policies lil General information and ba$ls of preparation KinE Fdward Vl and the Reverend joseph Prime Almshouse Charity is an unincorporated charity. The address of the principal off ice is given in the charily information on page 5 of these financial statements. The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepafed in accordance with Accounting and Reporting by Charities.. Statement of Recommended practice appllcable ill tridiiLi¥b yreparing their aGcount3 in ao¢ordanGe with tho Financi81 Reporting gtandard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011, and UK GenerallyAccepiea Accountlng PraLliLe. The financial statements are prepared on a going concern basis under th8 historical cost Convention, tnodified lo include certain items at fair value. The financi81 statements are presented in sterllngwhich is the functional currency ot the Charity- Th8 signifi08nt accounting policies appliea In the prgpdidliuii of thetse finanGial statemcnt- are tot out b810w. rhege poticiès havp. h65pn consistently applied to all years presented unless otherwise stated. lil) Funds Unrestricted funds which have not been designated for olher purposes are 8vailBbl8 for use at the discretion 01 The Irustee In furtlieiilllL8 of the general obje¢tive8 of thc Charity. Designated fund8 comprise unrestricted funds that have been set aside by the trustee for panicular puiyu¥es. The IIT) a11d use of each de8ignated fund i= Sgt out in thg notès to th@ finrlnr.IAI statements. Flestricted funds are funds which are to be used in accordance with speclfic restrictions imposed by donor5 or which hBve been raisgd bythe Charity for particular purposes. Endowment fund8 represent Ih05e assets which must be held permanently by the Charity- Income arising on the endowmènt funds e¥n be Lisprl in Ar.rnrdance with the obiecls of the Charity and is included as unrestricted income. Any capit81 gains or losses arising on the investments form part of the fund. Permanent Endowment The Fijnd is represented bythe eouity in the Charity's fraehold property. urniture and Equlpment FutTr The Fund is unresiricted but designated and represents the Charity's furniture and equipment which h88 been funded from the Charity's own resources. Extraordlnary Repair Fund The Extroordinary Repair Fund is unrestricted biit dp8ignated by the Corporate Trustee for future unknown major repairs and improvements to the Charity's almshouses. The Fund Is specifically invested. Income trom the investtnents is available for the general purposes of the Charity. Cycllcal Maintenance Fund The Cyclical fvTaintenance Fund is unfestricied but designated by the Corporate Trustee io cover cyclical repairs as they arise. I ne Fund is speclflcally iiiveil¥d. IIiGome from the inV¢otmcnts Is availabl& for the g9nèral PLirpn8p.8 of thg. Charity. 15 King Edward Vl andthe Reverend Joseph PrimeAlmshouse Charity Notes to the Financial Statements Year Ended 31 December 2025 SpBclal Repair Fund The Special Repair Fund is uniestricted but design8ted by the Corpor8te Trustee for known major repairs due to be carried out in the next few years. Income from the investments is available tor the general purposes of thc Charity. Bulldlng Fund The Building Fund 18 unrcstricted but designated by tlie Cuipuidte Trustee for ruiure major building projects. The Fund is specifically Invested. Income from the investments is available for the general purposp.8 r)f thp nhgrity. GenAr41 FEind The General Fund 18 iinrostrictod and gvgilabla fortho gcn¢ral purpo8e8 of the Charity. ThE fuiid represents accumulated surpluses of the Cherity. liiil Income recognition All incoming resources are Included in the StBtement of Finallcial Activities ISOFAI when the Chaiity is legally entitle(S to the income after any performance conditions have beèn met. the amount can be measured reliably and it is probable that the income will be recelved. Donations and other voluntary income are reflected in the accounts for thè period in whiph they are ree8iv8d. Donations in kind are recognised by the Charity when received except in the case of services provided fre6 or undervalue byvoluntary Btaff or othera whiGh are not reflected iii Llie tlfytyounts. or legacles, entitlement is taken as the earlier of the d8te on which either: the Charity is aware that probate has been grantp.d. thft #state has been finglisod and notification h83 been made byihe exoLuLuilbl IQ Ime Charity thai a distribution will be made. orwhen a disiribution is received from the estate. Income from government and othp.r grAnt.g. wheth•r'capitsl' grant8 or'revcnuc, grenta. is reGognised wli¢ii Llie Charity has entitlement to the funds. any performance conditions attached to the grants have been met, it is probable that the incom¢ will be receive(J and the amount can be m8asured reliably and is noi delerrecl. livl Expenditure recognition All expenditure is accounted for Dn an accruals basis and has been classified undp.r hp.gdings thst aggroggtg all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation lo make psymentg to third p8rties, it probable that the 5ettlerneiii will b¥ i¥qulred anu Tne amount ot the obligation can be measured reliably. Iv) Supp()rt costs allocatlon 8uppui l Lv&tb ar6 those inai assi￿ tne work of the Charity but do not directly represent charitable activities and include office costs, governallce costs, administrative p8yroll costs. Theyare incurred directly in support of expenditure on the objects ol rhe Charity. The Charity's governance costs are allocated entirely to the Almshouse Costs since support costs relating to other actlvities are c(Insidered immaterial. 16 King Edward Vl and the Revcrend Joseph Prime Almshouse Charity Notes to the Financial Statgmonts Year Ended 31 December 2025 IvilTanglble fixed a5SOts Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to rnaking the asset capable of operating as intended. The freehold propertywas introduced into the accounts at its insurance vslu@ at 31 Dgp.p.mhpr 2004. Following an exercise by the Trustees during the year ended 31 December 2006 the value at which the property is Shown in the accounts has been revised. The cost of additions to freehold property in the last iinyyears nas Deen asG¥ildiii¥d aiid the accurnul)ted dcpr¢¢iation in accord¥nce with the staled Ar.p.tiuntinq policy h(Is been calculated. The accounts have then been revised to reflect these amounts. xpenlliiure on furniturE ¢8llLI trquipTrient is capitali8ed exc¢ptfor1tem8 costing less than g1.000 whir.h are written off as incurred. Depre¢iation is provided on 8lltangible fixed assets, at rates ealculated to write off the cosi, less estimated residualvalue. of each asset on a systemaiic basis over its expected useful Ilte as follows: Freehold land Furniture and Equipment 296 straight line 6.67% straight line Iviil Investrnems Investments consist of listed investments only. Investments are recognised initially at fair value wnich Is normally Ihe iranbdLtivi I pi"ice. Subsequently, they orc mcasurod at fair v2lue with changeq rp.p.ngniqed in 'net gains Ilossesl on investments. in the Statement of Financial Activities. Fair value is determined by reference to the published mid- price of the investment. Iviill Debtors Contribution and other debtors 8re recognised at the settlement amount due. Prepayments are valued 8tthe amount prepaid net of any trade discounts due. lixl Creditors Creditors are recognised wnere the Ghdiily a pie5ent obligation rc*Julting from a past ovent that will probahly rgqijlt in the transfer of funds to a third party and the amount due to settle the obligation c8n be measured or 8Stimated reliably. Creditors are normally reeognised at their settlement amount after allowing lor any trade discounis due. Ixl Provlsions Provisions are recognised when the Charity h8s an obligatlDn 8t the b818nce sheet date as a result of a past event, it is probable that an outflow ol economic benefits will be required in settlement and the amount can be reliably estimated. Ixil Cash flow statement The Charity has taken advantage of the exemption provided for charities with income under £500,000 and has not prepared a Cash Flow Statement for ihe year. xlil Tax The Charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is consldered to pass the tests set out in Par8graph 1 Schedule 6 Finance Act dul O antt Iheretore li ttieeL¥ Ilie definition of a cheritoblc company for UK corporation tgx piJrpr).8p.%. 17 King Edward Vl and the Reverend Joseph Prime Almshouse Charity Notestothe Financialstatements Year Ended 31 December 2025 Ixiiil Going concèrn The financial statements h8ve been prepared on a going concern basis as the Trustee believes that no m8terial uncertainties exist. The Trustee has considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these fin8ncial statemenis. The budgeted income and expenditure is sufficient with the level of reserves for the Charity lo be able to continue as a going concern. 2 Income from donatlons, Erants and legacies 2025 2024 Un¢è*tricted RèÈtFlCtod Total Totol Crocus Campalgn Other donatlons 9,699 46,122 8,300 54.422 55,821 8,300 64.121 10,804 600 11,404 9.699 3 Income from charitable activities 2025 2024 Restricted Tot81 Total Residents contributions receivable Parking scheme Use of hall Wayleavel use of premises Concessionary TV license 346,345 822 ioo 36 128 347,431 34e,345 822 ioo 36 128 347,431 322.953 548 730 371 324,002 18 King Edward Vl andthe Revcrend Joseph PrimeAlmshoiJ*e Charity Notes to the Finanoial Stat•monts YeaT Ended 31 De¢embeY 2025 4 Income from investments 2025 2024 Unro￿TiCIPJl Restricted Total Total Interest from listèd invpstm8nts Interest from deposit accounts 7.023 6,679 13,702 724 688 7,747 7,367 15.114 19,642 163 19.805 1,412 5 Raisingfunds 2025 2024 Ilnrestrltied Restricted Total Total WagP.$ 2nd salari8s (note 81 Fundraisin pui)Iicity Investment m8naRement costs 40,298 11.239 256 10,890 40,298 11,239 11,114 90 5,746 14,010 1,123 1,123 12,013 63,806 King EdwardVI and the Reverendjoseph Prime Almshouse Charity Notesto the Financial Statements Year Ended 31 December 2025 6 Expenditure on Charitable actlvities 2025 2024 Unrestrlcfyd Réstricted Total Empty propertycosts Wgter cherges Insurance Light and heal 1,215 8.456 9,256 6,673 35.904 8,189 3.208 1,074 3,020 31,208 675 55,7S3 86,999 252,630 1,215 Y,45b 1.396 9,176 10,a58 6,404 37,190 8.813 3,347 12621 4,049 31.208 767 6,673 35,904 8,189 3.208 1,074 3.020 31,208 e75 55.753 100,294 265.925 Garden maintenance Cleaning Bad debt provision L08n interest and charges Depreci8tion ol freehold property Sundryexpenses Cyclical rnaintp.nAnr.8 EKtraordinary repairs 13,295 13,295 79,412 237,716 Wages and salaries Inote 81 Hecruitment costs Tr2ining costs Subscriptions Telephone, postage and stationery Website development Health and safety Governance costs IT H8rdware, Software & consumable Independent examination fees Payroll Dank Gharges Advertising and markelin Sundry expenses 71,934 1,224 71,934 1,224 69,477 1,803 796 1.602 454 2.242 10,387 6,626 3,240 502 40 43? 698 1,025 3,342 4,009 10.243 6,170 3,488 370 698 1.025 3,342 4,009 10,243 6,170 3,468 370 432 1.731 104,646 432 1,731 104,646 2,207 99.808 Depreciation of furniture and equipment Special Repalr Fund repairs (note 151 346 19,156 19,502 346 19.156 19,502 34£ 20.130 20,476 Total regular chaFitEble actlvltles 376,778 13,295 390,073 358,000 Project Cro¢us costs Itundfjd from Building Fund) Propertywrite Llown (permanent endowment fundl 43,303 43,303 82,957 183,756 Total charitable actlvitie5 420,081 13.295 433,376 624,713 As noted in the Truste6's report, Project Crocus costs represent the p18nning and consultation costs as part of the redevelopiii¥i Il ul LITr¥ Piimes Close Bungalows. 20 Klng Edwoid Vl and the Reverend Joscph Primè Almshou$È Charity Nutes to the Financial Statcments Year Ended 31 December 2025 7 Trustee's remuneration and expenses No Directors of the Corporate Trustee were remunerated or reimbursed expenses duringeither the current or previous year. 8 Statl costs The average monthly number of employees duringthe yearwas as follows.. 2025 No. 2024 No. Estate Manager Business Manager Fundraising manager Health. Safety & Compliance Manager Office Administrator I ne toiai stalf co￿5 iiiid eiiiployee b¢nefits were aa follows- 2025 2024 Wages and salaries Social security Defined contribution pension costs 109,996 68,212 2,236 1,265 112,232 89,477 No employees received emoluments in excess oi £tiu.OQO Jurlng Ihg buiieiit oi previou5 year. 21 King Edward Vl and the Reverend Joseph Prime Almshouse Charity Notesto the Financial Statements Year Ended 31 December 2025 9 Tangible fixed assets Freenold Property FurniivrÈ E¢uipm£nr Total Cusi ui voludliuri-. At 1" january 2025 Additions Di6Pts6als At 31. December 2025 1.619,692 7,628.377 1,619.692 A.685 1.828,277 DepreLiyliuii- At 1" january 2025 Charge forthe year Eliminated on disposals At 31" December 2025 477,108 31,208 5.310 346 482,418 31,554 508,316 5,656 513,972 Net bookvalue.. At 31" December 2025 1,111,376 3,029 1,114,405 Al 31" December 2024 1.142.584 1,145.959 The freehold property of the Charity is the almshouses comDri*ing ?? flat% in thA msin block, d Yl¥ts in th& aastwillu and 4 flats in the west wing, 7 bungalows in Primes Close, 4 tenement flats in Primes Close, 4 almshouses in Freshwell Itreet, Daniels Cottage ai)d Heleri Bcikgr House. 10 Fixed asset Investments Market value at l &1 Janugry 2025 Additions Disposals 1,410.291 1,034,763 11.081,8181 Rev81uation Msrkgt vtsluc at 31st Dcccmber 2025 121.692 1,484,928 Cost at 31" December 2025 1.403,392 Cost at 31° December 2024 1,393,171 Investments atfair value comprise listed investments only. King Edward Vl and th¢ Revcr¢nd Jos8ph Prime Almshouqe Charity Notes to th¢ Finanoial StatamBnt$ Year Ended 31 December 2025 11 Deblor5 2025 2024 Contributions in arrears Provision for dniihrfijl dèbts Prep8yments and accrued income 1,706 14571 8,972 955 10,367 10,311 11,322 12 CTeditors: amountsfalling duewiihin oneyeay 2025 2024 Bank loans Inote 141 17,819 8,035 17,978 49,700 16.708 6,874 27,699 15,888 Contributions received in advAnce Other creditors Accruals and deferred income 93,620 67,169 13 Cre(Jitors: amounts falllng du¢ after more than on¢ yoar 2025 2024 Bank loans and overdrafts Inote 141 Provision for CLIIvArt rppairs 19.056 215,000 36.843 215,000 234,056 251,1448 King EdwardVI and the Reverend Joseph Prime Almshouse Charity Notes to the Financial Statements Year Ended 31 December2025 14 Loans 2025 2024 Charity Dank Ltd loan 36,01 53,551 36,875 53,551 Loans are repay&ble as follows: Iii y¥df ur le55 Beiween one and two years Between Iwo and five years 17,819 19,056 16.708 17,827 19.016 36,875 53.551 The Charity Bank Ltd loan is subject lo interest at a rate 016.5% per annum. It is repayable in monthly Instalments of Ll,641 until December 2027. The108n is secured on the Charity's housing properties. Klng Edward Vl and the Rcverend Joseph Pr¢meAlmshouge Charity NoteJ to the Financial Statements Year Ended 31 December 2025 15 Fund reconciliation 8alance 8t 1 Janu8ry2025 G8in8 on investments Tr8nsfefS berwee iunos 8al8nce at 31 Incomg Expenditure DeCe￿ILlE[ 2025 General Fund 72,428 361.133 1328,0671 7,346 137,8401 75,QOO Furniture & Equipment Fund Extraordlnary Repair Fund Special Repair Fund Cyclical Maintenance Fund Building Fund 3.375 115.117 104,078 166,396 628.234 13461 3,029 115.000 90,000 180,000 639.347 11,677 10.557 16,877 63.722 111,7941 15.4791 37,082 32,532 119,1561 140,3551 194.8401 1,089,628 370,832 {482,7641 110.179 14,501 1,102,376 Rvpdll Defib UCAN Project Lrocus 3.920 600 13.9201 16001 18,3001 11,5981 8,300 47,af34 107,444 11,357 164,737 111,964 55,834 114,4181 11,357 164,737 Permanent Endowment Fund 1,087.851 1145011 1.073,350 Tot81 2.289,443 426.666 {497,1821 121,536 2,340,463 King Edward Vl and the Reverend Joseph Prime Almshouse Charity Notes to the Financial Statements Year Ended 31 December 2025 16 Analysis of net assets between funds Creditors duÈ more than one year Fixetj a$8ets Inve8trn8nts CurrEnt £s8et81 ToLdl Unrestricted Funds Furniiure & ￿quipment Pund 3,029 3.029 Extraoruinary Repair kuna Special Repair Fund Cyclical Mainten8nce Fund Building Fund Gener81 Fund 115,000 197,500 180.000 746,847 80,844 115,000 90,000 180,000 639,347 75.000 1107.5001 1107.5001 15,8441 Total unrestricted funds 3,029 1,320,191 {S,8441 1215,0001 1,102,376 projettT Crocus 164,737 164,737 Tntxl r#*￿triCted lunds 164,737 164,737 Permanent Endowment Fund 1.111.376 118,9701 119,0561 1.073.350 Total 1.114,405 1,484.928 124,8141 1234,0561 2,340.463 26 King Edward Vl 8nd the Reverend Joseph Prime Almshouse Charity