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REfA57ERE.D ¢OMPAifi.:MLWABEII..'Q¢44i112Y.IEn¥all"d •hd"Wal.•4",. 'REGISYFREts" WRm'.NuMBE.Zl1331 'R•port"•f ihTntsttt•5 and FlnanEl41 Stat4im&nl forlliè.Yow.Éndod31 Ooe))ber.2024 for ' Walslrtgh•m.Colkngè .'IYowk61ilrD.P"rEpDTIiIiG) Lkniwd *AEIP911RV' A11 110 CCWPANES HOUSE

IY.oikslilrfPiui¥èttsÈ¥l L&ItI '.1or'the"'.Yè4r.en'dod'ai 20.24 "Rèb.wt'oilh¢Tiusttts.: ."Report,olthe"'Ind¢pn<lent AudlrTr.. ,Notes-¢(+ ¢h"•"Flnanehl &ateh1ol*."

..ryort$h)M Pm"_witt•ril Urnlt•d Rtpoli of ih•.Tiitste ior."th&"Ya¢ Ended 31 D¢wn.lr'?024 ,kn6TtU"S61a8¢-nl,the" ar11eFa1..1uether"W.ov{lle fnwdal stètéirenf• DI I"charliy1Qfth? Fe.Il¢id "l Jar¥JHry W24" to 3.1"Q¢ml1 ?(r24.".Ihè Tryas" .Ihaq""ttiè" ArmLI".RepJt 8nd."f¥wtr":5ts1èm8nls ol I. ,¢¢rnparty cornW.y'¥!Ih Ihg rewrènwits". Ine ol'the coryarty.'$ 9owmry thjcumenl aryi .fhy "rxrsvisiuns of 1h.ts StaitirriethL ol Re¢oryTr."&KW .Pradke ISORPI .8Kvbcak42-' to CharlS. preparfng Iwr '8ccounts ift ,MrdarpQ *ilh thg.FiiiBrigal Ilepiylrw. ¥b.Ih¢.UK""trttl IF.RS"102."elleclw¢. frotn 1 .JanU,?019I.

g11 College IYorksN(e Prtpèrtl•sl Lkn"tted R•port olthe Yrnsth¢¥ .ltyth• Y•3r End•& 31 Docofflber 2024 OBJECTIVES ANO ACTNMES .. PoNcJBS and"objeckyos The abkcts¢¥l thArKy e'. the SIwiB4110utLady ¢fw81thgham. To conunue lo I10 Ihe frg¢hold nwsw. "Try •1 wopety H81. SKlJlth. In thp County ol Y0th..l¢yi1 rti ILthllutè èllKts IherflTh."antt tc w Iho for IhA TBibaS u cther tsharllable JrpD5f5 01 Ihe St¥E Cliar. To lumish 8nd li Ovt 41h all réodslo f¥mThtsrÈ owkAmort and w¥1 Ihe fvoolKld •knesd es a Co1nrnnltyColIe. H(b51el u HCMB for$tt thaiith wrpDses a5 Cfwlty "To prtyide ¥eligi5 f(¥ and twthYal95 •&1 ww¥Je fa¥ Trlreils and p.rovldd such P¥cruitioii"85 wrvy be to.Il 4dFrfiTrpnl of of Itdr '3lydle$. Yo WQbTd8'? Flome or Re51 IDrckn&y ts a nan$ olphka"F¥vJ m4n1a1rtrèlkn Tiv ng¢d ofrnsL To a¢lMe¥ethh thertwltyrt1QS knltyAtry'. . rninlainsa Iwlef OF reflw LIltlI8 - provth itr. fd¥M)45StrI0kn9 for cwthdÈS lor . provthatt home ofthe res ror•asthe ol thslAlwJn?wW rwwioryS¥ rwj d r951 b. O¢hk%10wtrs "The styatefv.eDylJy8d (o asslstth• lo the . Th8 Nal Bs a tal to ths t)totss dl¢$1¥48ly0$IYt And ul th1$ (x)Trt•xt. tho t(alnlw con1knS lor b)thdewwKI tsy PBopJE. . Cbryy SIXseLtI to US8 Partv+l HJ as • Fe•SyM5th r•fr951M . The Crèa MnteR2n & a high foror4CgTh0rt01 1hw.1 Ltse tho Hal c. ActNthS fr)1 acNe¥i Obieciryes Tn• thadiab" kxmpaiiy IG for ol Ihc. h£xEe. c• at PiÈv&l yknIfe. The Hal15 rthv leiolT a ptyper¢M' rthm 10 knt ofL•ts (WestYOJfj aTrJ tr 051. Th•gmynds aro mn0d b è1th3hstwdJd WEOFen lo trepEnornl put The pBy s¢¢4tt aderSh barn k rgvhlwd lry tho ol t01¥. Pay i¥ as5055ed acrThokny kn an InVr3 ol res41Y and to sn Iho sK¥. g. th¥thJrVs pJpDSp fu I In geiikng Ihe tharty$ obJgctW and Fkni9 ts lh• LtrodDT5 hw¢o g¥•7 c•rdul to Ch .¢orrfssl¢n's garral gthl*ic• OTr I>pftofi1.4 its Its tke advanment of reli¥un for IhÈ bEng

ThW¥ln8h.•m CoU•g• (Y•rkshlmPropgrtfg$1 'k¢'poitèl thelrusit¢s lorthv Year Ethlod 310èc8lbOt2024 Tho garo¢nprs •TE.as¥istE{l in thè keeP of Ihe:g¥¢ens ty.B •t ¥lLsn!CEf5. who torthb '8pproximately eoJ hwis.of tyno Yr. Tr CfjreBtor5." th91 eBse acM•6 plAe"kfiI both IQ tlb)s8 .USé ihe Hall and gadéfjs few$ for febvat'and.kr ¢•ti ery reCaal The fkndEq5 GorWnuE Iow5 Wèy5 w. tho wol Ènil p055ll) A¢HIEVEIIENT AND PERFORMANe£ •. Re%iEWfjf8tl 'Afr8r@emarts k# ¢he P•ttlNJofth8 ve5. ts CxeSè L¢d$."(@l0fft1. PhHI [Sc tss.ruk Js Ge"fv lfradk4 a ahWI Vden for wKJer PLIJAC Ih•¢ ¥L41 Ihe.gonfens. Invèstrth8nl poSty and p¢nY•rKe firjn of Inyeslwi m8ge$ s1(<k vtharq• tit! oF"Y In¢5teè"$. knvewrrents I rnpde 1 Ihe P3tsnl Ch¥1# Cdge TwSlAsK¢igl) hvoSbn8rtPDCY. lrt IhÉ ac¢/Juthin9 pa1od 10 31 1024. • o¥er £114,921 wa5 Lhl Pwesbitrfs. ¢tyrywed £708, ovwl In pernd 31 D9rewbw è)rJ.Tr Lokl LI14,9Z1 ol £S.151 ki$8 r8dis8d .8nd oi£120,Q72 go]n FINANCIAL RFrfIEW RésÈNes and golng ¢M¢ern 1115 tho pofiw Op IhE.thJiily lh e5•ttl IiNig +¢h Ml a.srifr ust7 bp rryaknlained 81 a lovel @OuthI to. bohw.lfvoe."d six exp1tè'. itySle•3 b)ai SeS 81 thys t1 11 ènwfe that. kn ¢h& e..rtI of a d¥op in fIrOJ. Ih•y ¥[ be abb to the tjwly¥ ewrÈnl ac•5 vihik4 consldu4)n l&.grvEll ID ITh add01 "fvr¢s nw b¢ rarsfjd. Igwl vf rtrsEN8S hos tse. rnBlniained Th¢ nol movpment in lunds year b13s Intspis& of£94.W IXJ21" £102,8851 Tha tl1ed Sol nF the perk4 lrtt4wUry ty£19.55(trlryvthèw 5Th¥estrhts. The Tandu ol A55LtlwtoTh protrlt415d4ldefids h3¥0 Ixen pgkl.tywrfy)scd. 'Al 31 0e¢ember Iir24. the vM¢ W¥Ckd £261.489 £9%,337 120f4.' £393.92&. £3,138.938 ThQ bas t•en £5.tXW WL Idal &¥thJ by FrieThls 14 P•¢rewP Gardu IhÈ £11.Ou1 w fe¢¢ed ty donorwly)wFshed lo ¢¥mèhI:arory.. After m&4lng appiwale ènwrns. tho trtse85 ewErJ•rn. Ihét Charfly has.adgQVatg f•gource¥ lo èwtinuE.In opwÈkn)a èxlste(Ke #ke farosgeai"fiJurF Fw Ihis roasoTr'tty rthiue lo adopl Ing concern ba4$ Fsparin9 518knts. FLwlhér de1 ré9wdu¥ ol Iho coK8rn basi5'C8n ije fournl In Il .A¢MiirnUng Pplde* Page 3

YlahKWam Colleiie '(Yorshiro PrOri51 Llmknd Report of th¢ Tnisf¢es lutllkn Yar Ended 34 D•cemr 21)24 '"WruRÉ PLANS 3..Fue Inlomiailoh •)n Ior¥I$l9 pxcllc Wa15kn9ham Cd99 IYort51Kc" Prwrtwl unl U1K2 any luft¢a6"Iw •vfiies. iyr Un9 agency. As su¢l). we i50 not cwter+ty lo o ILryaiw¥ ¢ixle (iYrrytslR)n. W¥ère any W•"lJre5, ¢lunre" tho yw. ed 31 08cembY 2024 120rJ nmel, tri Ihe" thaiity w any p¢1 Is"1hall, to llh o slindd5, rKwdld W1¥t8Y t£rfrp.this ablna14.&ty. srRUCTORE. GOVERNhN¢E ANO wwIAGNT ¢hxrllyconslilutbn Thè chaiily Is • piva¢e ty$hS wx"sel.up by2TrttsideEd. r)Trry $. 94¥1$h nder o hlr• 4¢15 lh• c441ts. puwors. ol lh8 ctyryw.ny 8Thd I Tho prsncl9 otr4.gy cl is to wide I rndrAenafKe ol Hal. a1 land sthJed 21. Parceyall. Yorlshlre. 'Mèihod CF•ppolntm•fft•relocO¥n ol Ttu%1005 Trvsl de8d. The In18. gia thrt¢iors'fty PLYpose of corrywy knw. Nw sr• oppJ¥id ty a moiorfy uwlslon ol the stharehoFde 'Oryanlsallon•l 5truGlure?nd decision Wulsfftgbwb Goltege.{YoSli Prwk41 knÉiEied has a of up b pWI moel wartthly. ¢èSPL)St4è tor strawgk""(IT{c1p gnd pJlry..of dthy. Al.wpsent L?d swèri om & 4[Y .pr01èstin bachtyotsntséthart 1$ ti[1&. Tiw'50¥w i1r5xI8tt 88 ofther?)mpany. PollGièS adoptedtotthe InduGtlon and Ira]nlns iilTwsto Appow¢imert$ 4.rg.pwIg hawry eyw.erte ol ¥Alh a ¥1 ici baken ol.èxLwllsa.¢D t¥)wO, T[ is rK)fot Nxlion trdknlffj.. Rel8ted party¥100. chèlity h&'a n9 wnrrirg conttiOn Cc4 • Lwd.durry tho yts! .ending 2013 a WAKI $th6K8ry p3 WBtslngh9m C Tw51 AsslhX Llmil4d. T1 Rlsk man49om•nt ThE Truslets hwe essess•d ID8 ni4or $ io" wlith.l Cha&y'""ts e0). tn fled 19 Cth3rly, arnj are 515r end a'll>tIJtste expwJre'io malgr REFEAENCE Ahlo ADMINISTRAnve DETLs R•9lstewd C¢mpany nymbor 00440129 tLOId W2les) RwJistoTrd Charltyhvmthtr .211131 PwJ94

Walslng¥wD Colg•. {Yo$h.110.pl¢p@rt.iPB} LhItOd fteport tiftht Tr1¢¢$ '.lorthg Yaf EN"thd 31 December 2024 R•glglere"d offi. waIhrn Norfolk NR22 6EE Tru¥te The Rev¢ B 8ell Sir R Manif8 "Th"•Rerfd 4 w.¢hY Faiher P ¢ariwrlgN Mr J E Mcauakr Qqnon PA Tuinet Mr C Kl ReAd Audltors Lathin9GDWéri LLP Chartend AcGwniori$ stab0.A1l0r 1$1 Fl Rouen Road NR1 1RE Solldto ¢asws& 5iw. le Merthan". NR219&Y "Pank¢¢s Barcti.88rt 17 MkeiPlat&Fakènhth). N¢rfc4t. IWI4BE tRUSTEES' RESlbONSI8ILf(Y STATEIAEMT The Tnsiees are tsi Owodws of Wawrsham Cokp".(YtysPwe Prc•"ertks) Llir&ed lor the purposes'ol mpli I¥) 8rB rBspaTrsthia lor F¥èpatiny Lhé TFusiaes' Repm on¢ ltr¢ fincl31 $tsignients kn 3ccord2nce with'yfitablb law athy 104 Kingdprn Ac¢oltir9.staljard (Uriled GeTYiaUy A¢pIe ALx0JrJ Pr111. towporiy la% rewrfres Tru51ttS towepwe SIal.enls.lty exh fvFKial year. corrywiry JÈ'W th• TSit&S fiSt èppio¥e the fhand01.514wI5 tlw a 56ttsfwl al Ihey f&r viow of the $ts1o pl awsrs ol Ihe cla" corrfpany and or tt TrS.0C& arKI 2pkn ra3OWC65. the ams eXpeIre. of thD c¢iarflknb.cgJihparty lof prep ISe sW.enwAs. to.. - Sg19cI.su"thbk ociguntifj9 Fd¢ies and then apY Ihem c4ytsiUY. -ObN?.1hQ Inethc4Js ond prin(iplS kn tlwt Chllw(+BS SOFIP. - Make ludgements gDd.KcowUrqosb"male¥ Ihat or• r4owaWewvJ PfQPgfQ Il fioanti81 5taternents" DD Iha c(YKeFn tOY5 4 1s"knawiowtste ts) IPAI rthathlle ¢oftww wlll c¢nlirwa In iipvrathk 7hf 'Tw4ee&"ate FE5PtshSibtÈ lth leepw9 aOwy8te enrj wprds g.ro sthcwt io •how snd exptBin thavitalle ¢ompanYs 11 rea$é acJxècy ghy l•rn IhÉ linetaI of thB tharHatc' coryany Nd n#bF2 Iheryb 10 éngJra Ihsi tt hr•ridal.sialwwls 0)mply'¥x(In Ihe corrye% Act 2006. They p4È also )1${blO f $aftyu3r(ting the osse of Ihe Cn13b10 Iw1okAI9 r•¥w4bl¢ sleps.knrtrt and ¢t t115Glo$ur• of Inttymiatlon to authtors E¥th ol ihe per5(Y..r yste8S . l•xe • Tluste RerAylb¥prxty•e¢ hfj IhÈt'. . So far $5 thai Te¢S Is ware. Is hifryrn" ol dwH8bk wpaiiy'g ur5 arg -. That Trust¢¢.hK di the s6. W.ID havè taktr as a Tnj$ 19 bg of any r¢leYanl auth( Inftsrrllalksti ioeyatyllth Ihatlhe4ar*alk wmpanl5.w¢kn¥ a¢aW.(lhaI Irrfwmtsi jwrot by tyd¢rofU trrtjard ol1118850Th .._

".W¥lsk4"h•m Collègts. .IY.ork$hl.Pf•P•rt1•5j Lknli•d ..RgPOIt of ¢hg TN$l¢8S. STr A Manll*.-.T¢LL8lg?" I

Report ofthe Inderkn1Audil1XB to thè of Walsingham College {York5hire Properb"esl Limited Oplnion have audited the finan1? $tatm)ts OF Wabiwm Colage (Yothshire ProFert¥l Limited (the ¢harilable r))rpanll lor the year ended 31 Decernter 2024 whKh c£fflprise Ihe Stalemerf of Financk41 A(iNit5. ihe Balan Sheet aTrJ noi85 to the finartial $1rn8nts. IrKdiJ a srnry of sgnfficaTrt acuxJnb"rKJ pots. The firwial [K)rtIr) fraftwork that has been ¥)1 In thew preparat $ l•¥ and UNted StaTh)ards IUntsJ lQrydc¥n Gener3My A¢¢ted A¢Un. PraC¢e). In our opinion the ffinanoal statts.. give a true fair wew cl the state of ihe charitable crynpanl5 affwr5 a5 at 31 C(YTr)er 2024 and of its inc£ffling resour5 aTrJ appliLztyM of resources I11j rts and exFÉndrture. lorthe year then erhjed., have been propety in acu1rdae vthh United Kiwkn Generalty Attepted Actounb"rvJ Prts.. and have teen prepared in accorda8 with teqywwTwts oftt CfyYpansAd Basis fw opinion We conducted our autht in act(da 1h In¢eMaOI SlaTrJards on ALtrJthThJ IUKI (IS45 IUKII zTrJ applicab law. Our responsibiithes vnd¥ thc6e StaardS are fijrther d8scnbed in Ihe AwJitrKs' re5w"1rtIeS fy the audit of the finaroal statements SectTr of our report. We a intlent of Charitse 0xnY in XCOrdan with t ethical rEquirerrnts that are rebvant our audit of the fiTrants 5taknnts in UK, induding Ihe FRC'5 Ethical Standard. and we have fvIfiIW our other ethical resportsitslits in acced by the Compani85 Act In our oknK)n. based on the work uTraertaken in the COU of tIE aud the information given in the Rerrfyt ofthe Trlee$ for fwrLaal year for Ihe fanUal 51aternents we preped consi4lent wlh Ihe finanoal statements.. aTrJ . the Report ofthe Tru¥t¢es ha5 kYep3red in aewdanc87*th aFvkcabk reqLNrernerts. P7

Report of the IndepefidqntAwditors to the Membvrn ol Walsingham College Iyorkshire Proporti•sl Linknlwl Matttrn on whkh we are required lo IBport by •x¢eWion In the IvJht of the kntr•Aedge uTrJer5tarxJiw ofthe thantable CLryany aTrJ it5 envnr¥Yent obtsitwl in course of Ihe audrt. we hav8 r¢ot paentsfed material mBstaternents in th8 Repyt oltt Trtsrees. We ha nothry to in resFed cl the foknn"rvJ matter5 thr the CoryanÉs Act ra]uire5 U5 to rtpcthl to you rf. in Jr ¢JpinK)n'. tvisiityj by us." or the finanaal Statements are not fft agreementwth the I)rS relums: or rtain disdo$u oftrustee5' reMrrati by are Trjlmade." or we have rKt retrived all the inf0matn ar¥J explanatk)Ths our ast the trustees were not enmed lo tske advantage d Ihe Wl exewbjn frcm the uiret to wepar8 StratsgK Report or fft pparIng the Reportoflhe Tru5tW5. Responsibili of trytee9 As explaired more fully in Ihe TrLLStees' llespo11tr1"I1tsS Statement. Ihe tN5te85 (W a also the dwe¢tors ol thatae mpany for the purw5es of cmipany lawl are respons for Ihe preparatifm of Ihe financ4al Statents and lor being sat15fied that tsy gNe a tnJe and lair view, arKI for su( internal o)ntrol as the tru5tee5 dEterrnine $ rwssary to eTrae the aratv)n or rinancial staterrnts that are fr frcffi matwial rr¥sstatwrtnL wlkndue to fraLx1 orerror. In preparir#J the finawal statements. the trustees are respOrIble for assesgng tre charrtaÈle companys abilty to conttrive a5 a goiry conrn, disdosirvJ. as aOuble. matters rekt&J to corrn and Ing tt goiw {X)rn basis of accounbThJ unless the truses th inleThJ b) kn4uwJats the tharilthk corroany LY 0$¢ walw)rts, or ha¥ no realistic alternative but t) do so. l)ur wponsibilities for the audit of the NancI•l slater Our ¢J"e#Nes are to Lthin reasonable assurance ab¢>Jl whether the finanoal ststents as a Who are free from material sstaternent, whether due to fraLhJ or err¢X, to a Rek of the lfyJeFeThknt Aart05 that includes our opin)n. Rea$atrIe assuran 15 3 hEh of assur8r. Trjt a waranlee Ihat an art ts)ThJucW in acrudants with ISAS IUKI will aayS (ted a material misslaiement when f( exists. Mtsstatwnts can artse from fraud or error and are considered material rf. d1Ul1ty w in ts a9¥ege. they ¢>)1 t eXj to Influen thg eCOrNn decisions ol u5ets tsken Ihe basks of1 finarKaal ststerrts. Irregularies, Indirj fraud, a instaS ol with arby rtyulalxm. desun wdureS in kne wth cJr reSFX)ibllrts, ouuined above, to detect merkal ftlsstaiements fft resFÉCtof Irregulae5, induding fraJ. Due to the fielj. in whth tr Chanty operates. thnlffied mst likely to have 8 dire¢ material Thpad on the finanoal ststernents as wnplIan with aoUnting slalaS. irtknling Charites SORP IFRS 1021 ar ¢harrty law In athyition. we consmlered the provis of olher lkns aTrJ regulaIS whiL5t having a direct inpad on th8 financwl stalernents, are fundarnental to the Chanty's at¥lty lo cyerate. 1rKW1r heath and safety. employrrent Kaw. data protecbon and comtyk3nc with variws regulatKMs relevantto the o)nduct oflh8 Chaitys operatKJrts. Our approach to iLlenbfyiNJ a1 assessing risk of material mtsslalt in resFeCt of wregulaiits. irlujI)g Iraud and non-com$Yon with la and regu15. irurted the loliMrrfJ'. ' Enquirie5 rnanagement arKJ the Tntstees about any or irtst2rtss rnn-OJrrplk9n with law4 and re9ulations. accAdents in the workpla, data potential Irt1 or dairr¢ amd fraud." ' Reviewing legal anLI professKJnal fees to rnatter5 wheo ts Charity ervJaged Iwers duriry the yg3r,' ' Reviewing financial slalernent dL5¢bsures and testing to suppwtw doDJrwnlation to assess (ianc• wlh aPF4atl8 laws and regulab'ons", . Reviewing board meeting rninutes and any vant fXJTe5poTrJen wilh extemal authorths". . Challenging a55ufflpbon$ judgements made by mana3errwt in Ihwr Sgnffjnt accountiry estinates," and . Auditsrvj the risk of Managerrt overrth wityots. induding thrtwh ie5bry joumal enttie5 and other adsusbmenls for appropriateness and evaluating the busi$5 ratronalg of any signrfrant transacts($ oUtse the nomal course of busirEs5. Because of the inherent limitabons of an ajrt. thwe is a rtsk Ihal we wll detect all I[gU58nbes. inclth1ir¥J those leading to a material rnE51aternent in ts finanrA81 Slaterne or non<LNnkI8n wrfh rJUtY). rsk incr8ases Ihe Tnortr that comp113nc8 with a law or regUlatn i5 rerTh) tr events and transathorts refle(Aed the finartial ststements, as %% 11 be sS li(ely to becC of inStsn of Mn-corrPlrdr. The rsk ts abo greaw warding irregularities cccurring due to fraL rathwthan errw. as fra Invcfves c(1$( fugery, luStfi, omi55K)n misrepresenlan. A fvrth8r descripts¢)n of our resportstslits for audrt of the firgnoal strtts bxatèj C the Financ4al Rewjrting Council's websrte at w•M.frc.¢yg.uklaudrtoryEsponsiix"htses. Ths desuiption fc part ¢f our Rep(xl of the Independent Auditors. Page 8

Reportofth• IndependentAuditors tL)the &lember8 of Walsingham college {Yoh1 Properties) Llmited USÈ of our report This report i¥ mad8 sdety to the charilth cL¥npanfs rnemtr5. as a bw. in arn)rdarKe with Ctrapter 3 of Part 16 of the Cornpanies Act 2(K6. r awyrt work has teen ertaken so that we mwJht state to tharitable companls members tt¥)se matters * a requir to slate to thern in an auditor5, rewrt ar ts no i)ttr purpose. To the f$1 exten¢ pennitted by law. we do not accept assunR respwblty to anY0r olher than the tharrtzt o)mpany Ihe charrtJle eompanls members as a . forow aLhlrtwc4k. for orfrrf f(mJ. JulE Grirnrnèr FCA {Senr StatutoryAth} for aNJ on behaK of Larn9 GO47 LLP Charter¥l Aco)untsnts & Slaluty 1s1 Floor Pr05FeL1 HoL¢e Rouen Ro&J Norwich NRI 1RE Date.. 30April 22$

'.W4Js!ngliam Collty• (York8hlro Prori•rtlasl'Urnit•d Sf4iernenl ¢)fFlnaDclal ACtlt{•S lvr.thé Yeii Efid•d 31 D0Mb•12•?I funds lun45 INCOMe A14D ElOKr$ .FROM Dofiatson's and lellKi8s 19.051 16,694 40.092 ChTltbio aclivili•g. .98.490 cl1[ Irod5Th9 0 Iri¥e¥trmen14nM Olher&£on 4541 114.4Je 4.541" q21.4Ye '&787 5,552 rptal ENDrriwAEQN hveshienl minqrtnl ¢1% 17.687 .10,7 17,bO7 'Charlta>l• acllvlllo5" .Ch0rfta.bl aGI"vlt 229,707 11.117 .229,707 11.177 241.871 10,895 Totèl 18.790 259.674 270.459 Nol 9a1ns 114,921 108.6gs NeT INCOME4EXPENtmftEI Ttanslers i>etweeft 11Y22QI 1188.1921 f4U51 .96,131 'NctinD¥OJiLli¥t in'lund6 POS.7121 300.874 94.962 11rd,885 RECONCILIATION OF FUP40S 'Toi81 kndsbrgiwi 'jS92063' 3..429;.Q78 IOTAL FiINDS CARREO FOAWAY¢D .181213 .3,439.612. '4V27.825 .Summary In¢•m•gnd ETrenthiurvk¢puni Tolallun"ds" 2024 2023 Gross kntoiiié. L•s< lots10xpLbnWI Neij•yndlturEI 239.715 240.884 11.1S91 2¥772 Pag# 10

Walsln9haffi Coe': .OrkshIr.pIopWtI9•) lj ,88la" nce SIMI ,'31 Pe¢embEr211Z4" 2024 Tn9Vob" èss• 15 16 2,472,287 3,14&025 CURRENT AsseTS .17 1$ 185 O¢blr) "Cash al bank Tri hai 21,020 -1%,013 CiiEDJTORS AThunislalFln0d.ln.Cr 19 123Tr191 128.04F). NEr CURRENT ASSETS 1n,094 .TQTAL 1fy&SETS LESS ¢URFIEiffuABILmES 1627.825 3,627,825 3.È32,86J FVNOS. R8ser4S 188,213 393.92S Endosvmeni.fundS". j,'13fj,938 To*AL ÈuNts$ 3.627.825 3,532,8G3. sialnents lié¥0 pr¢paffO I):X(¥)rd wovtJ(•s:..gp.pNrth lo th¥1ts018. ¢wcpanks 17 April 2025 The ¥è Its Lphatrby. Sil il Nl8nlia'_.Trnsteè P47.11

Wèlslngbam ¢dge' "IYoisN(t P.rertlts? UnW•d lor tho'yoy Endd'31 Decéinbor2024 ACCOUNTN& POUCIES Ba$ls of weMrfngthè"flMficl81 stal¢mertS Trg and11 I# been wepaTed kn aC¥dante 8j FI0bn9 by Cha5." Sloterne ol Rerneed Pracuce OP3b Iv Chae¥ "preparry Ihth atarts kn actord8rfe wAh thè Finwebl R4porting S5jr applitèNe kn the U< ond Rew4)¥e of Ir¥)d IFRS 102. 1 JanLtary 201YI - ICbHAIivs. SORP (FRS 10211. Ino Swhlwd ¢Th Ihe UK arnl RÈAthk¢.of Irnd IFRS IQZI 9od Inp fA)iPOrties th121)J6. W8lslrt>n Colw Lynled n%ets d¢fK4kn of o benrfil JIty FRS I£ Assets and labllSile5 .t lfjP4aly rnGrgw'l 81 oisl w k3ThS4Gts 1)th¢$¢ SWLed In Ih Comii•nyststUS ThE Cha'ray Is a cwpany by "r¥s, "olw•d in Eri" rKI Wth&. SPores we Iwd by W818lwh' Colw T¢UsiAson Llli%t& Golng ¢on¢e Th'e irusreÈs have ccrtsidÉred Ihe r•sk.l tho ol $1fv9 th8 finantial slalefinls #tstt'h8¥e 8190 nsTd9fgd Iht ¢Ltyrenl fnand6151rtrwJlh of tl¥J thIlty.a$y 00"1F45. tr5 h4¥e thal.they have leas3b exprin I1 thaTy have ad2waie roswrcas'lts ¢Orthwe tn Vfatrmal lor the (oreseeable a( Irom lh8 dae d TlIng th89e fTharKial ststernon¢% Ihey .IhwrfL All Ls ¢ecosthd M¢ ts Chofiy has f rdilenwl 4p il b WDb3blè Ihai lrtty)w ll bg. f¢Ce anEI the ¥rMJmt of bo ff,•asw¥d r•%ty. fraw OjnFJIBin5 and grnrf% Irsccffi91s . Nthen dtn(#s ifflwse bq futhd bth the beoynÈs Io u50 knwin•. yjtt kdafarrÈd and r¢oi hLrtd In reswrceg.wlq IhB"wertKdhiJ'nJ farus teert iL . dor'sPe¢lty w donBgws IrKtLKJtyig 9rw)ts. lor roskid pwptsst5. do arnowl VJ pffj pxthiwo. fe9wth9 ltrl¥ Is bnGL¥NWJ rgswrca? of come Irrt wl515 kn? has rnE4 th¥ has bec¥inie pnlll80 lo thÈ tQSOLf trK¢me sle FIts N•ms ty V¥J 19wity (DT s lft tke kluded 45 fvierffjw Irwi ol coVAge5 aFtd ol Il Is It .(Ved értd l& ExpondNurè ExpenlIle Is ntO9iM8d on¢ Ifre is g W or ot4oth to tr3nsft¥ txnEll 1¢ a fftlrd paty. li is tr1. a Iransfer ol econuwd¢ t¢$ wll in $ètt18]Iienl ond Ihe"""arn¢iLni of th8 (4Jl9ptiM can. be m9aSw T(W. EXPth.be 4$ ¢wfieO by ac•v#y. $1$ ol exh admty arB mèJ2 w) or e ol dir¢ rn5ts orxl sharwy o)515. SUFVL4.l.LJJSlS ithrJ4%d h? urxlerf8kkng 83ch a¢tsvKy. Dir1 op915 allnbbfaw 10 e SI¢ VIty are alFx4ed ¢frEslty. 10 tl%41 ¥cknty. Stborod L5L% whth cthtribuie mora ihan 4)n acli¥ily and suwxJrfs"th5ts arè not al1rflabk to a Xts%fly.¥¢ bolwcan )$ Ectmuts on a tsas"$ wnslsi•rn ol Cthtral 5EaW"c0515 aje hxal¥d on IhB ba$1$ of ontl Funthing. ¢c¢ts #re &eeity &xI oo rxy o)&ts ol IrtrIra0 In support d Ihe tharablÈ ¥tiwtw tXb51s are th0"5e Iii w)ètUcrf) P*uè 12

Walsilwham Col¢ (Yo.h• Pyopeths) Lfmlltd Nolests Ihe FIan¢1a7 31atemqnts.. ¢9nUnuod. lorthe Yèar Eo4d 31 Oecefflbe'r 2024 ACCOUMTING POUCIÉS.c0nilnu. Exp¢ntitu Ih41 59 lu, TgIble Il¥•d a¥gols•nd dryrfflalÉ¢>n Al05wtscLi%ltng morethan t5> arneAF4aked. A lar Impafvenl d 8 fved-o5s¢1 t)th Nwerts tir In ck-omsIan the" carrylnè val.1 DI any fixed Tt)al be ble. Smtws DI Ilwd 85$ots thqtr" re(o¥8rdtrAè amounts 4r¢.reCOwd os tsryawrpents." Impawnth Jts55è9 kn Ihe Sleffenl of. Flftacml A¢U¥llles In¢wwaUr8 Expfjrxtlui4 AcL T8wblè fixed'3ssets 8tE card al"rThl. n" of •NI ry IrI1. Drtw8clatlon 15 wl rates ¢akulated lo wit8 off fv t¢st of ffixod w61 knss the- rey£hJa vaKE.. cw the ..é¥¥ectyd Ial1 lfvÈs orh Ihe lo1 basès. PleitBnd inithinery Fits rrtt 5% kne deprEdatknn hos tèn thargBd an fandarJ asll iwsan IWe. Stocks Irth•st Mcefvablo Ihts Ss olthtr frlweslpakl w PlIè by Ihe BHn Dobto and 4Jar ttelS we re¢tyJnised ai tr ¥IlleDl after any lTrde IAwI offth¢d. fvejwffenls aTa .Cash ai Ban 3Dd In hand .monfhs OF lss"IrDm the" dala 0f¥cqiiwt>ra.(wry rrfU C41. Ll&bthknes 8 rem$¢( %then Ihere 15" an thailffj. ai &larice' dato a8 a WE5yN ol a pa51 èvènt. 11 l&" p(cabb Ih4t.a tspnsfw-cl ecOrC berS1 thl ré0(a0 lrt sttllèA)9nL ar amMI of 5ett19menl.tron t¥lknad rEIL41ty. Uatklllifjs •r• tacrJthd a kne amwil thal kne Cbanty k1paS Ilwl pai io Ihe da IhB amoJNI 11 has re¢eW as.aii¥hra pay(rnrts or 11 ff¥Jsl prDvbJB.P.iO¥i%h)ns a.re mods al"Itw beA e1te reqiitred fo"SeUlhe ¢tK)r& Ihfftora the'otseu of IFY volue Irririey ts malerial, Ibe.pKMsth Is t47sed Ihe we5. I ol 8mounts. &swnW al Ihè kYè-L?J ds¢otsnl rai Ih81 eI5. Ihè ths:sg8glk 19 Wfjly. Tha of.the 45 v4AhEn.k)leFeg1 pay•Wa. tnv•sthigDIS. Irwastmerts bro. lori* rA fmarwi81 ¥re retw7k%ed al Iraft5a¢lhty) and wbsequ¢nty msised. 81 latr Yakre a5 baLwKé 61fft"I 9.45%J woied mawkè¢ The ""SwK4ineni of Finarod Acws ItfLWDe aNI"bwKMlure not 9aln$ losse5 •rWng on reVtha1 ?nJ F.1ThclaI Inlnurn16 PAge13

W"109ham cdkaè '1Y0ShIr•IUtk5l Umlt•d .N•lw to the FlnuncwlSiaterNnis-eortird forth• YBar End&d $1 D•t•mb8t 2024 A¢COUNnNG POUCIES- corttlnued £¥¢ew tsr [nwswLS." kn.fiJweb.a$s8ts wd kncl4 ol o kirwj al I5 rinari<Èd frn5truments. "Bas fvrtki Inryii 8ia w&liaty rawised ot tyariEaron v¥uo. ar b$g.¢iugni 'Tnta5ur¢(l ai fv.ir xtWn¢nl.¥afw &cepikrf¥ uf bar41 s¢h. ar¢ sub5ewdy Aed w amortis1 COSI fi0 theeffBctsvplrthrest rriUJL FundA¢¢"vunllng Endo•sm8nl Fuith rémert l1yj5e.8ts ih mitst bè Pkl ty.ts cNiiy. In it¥t.0f Ihe irnfegnwnL8 ihesg are trn09ed 40 Il¥ Tnthes hosknnf. Poky. Yts IwT Irdm Ihè Resirtded fuods arè aro ty bo spe0 ty$ 4knvtS Dr rtdth hayè been Tr151 by Ihe Charly p8rtbJl¥ Tr¢ c.ol aN1.wJmkntWkng arg ¢har¢iod il)2'.SFwuk iLty¥J. Tho oteoth rt5Wyed'knnd is lèi kn kne ntst8s kn the finartd81 6taternen P&1p .pwiablo bythe Charty lo the in SPttI Crfll¢al •¢¢nIV •stlm¥t•s ¥nd'amas ¢51ludwnB Enytes and e cl&lL1fy wehraied aod we based on h15t01 oltssf lats, alail&b? Ihal we bekoved urder thedrthmslarte 'a5SiJmMirs. WHI. by dknif100. egUo1 tho fekt8d a¢lLO1 re. Tho vljFnaiE5 0ThJ assump.bons Ihal hav8 swJniffcanl Ikyk of io th8 cl aSael$ I[Wl]eS ihg rp%t 5¥ful of lung10 asSètS depfEEiD1PL h)r'lW" .wets Is""sehsknè.lo Ihe Usel er<iT valu• ol 8?1$. Tr059 gri)rAJwiE ?nd teatr vakA r>Sessed TrUal¥. They art arnen(tod whep ne¢eÈsy 10 ettE 8iiniates. oil arty11 1nVtstynr1 . uiltralitin and Ihe phfJic81 of as¥el. SeE" Ile 15 for the oflare¢ Ilxqd and Iho Llfil aa]nonu¢ fr.'ES.olÈarb¥Jass"olassei DONATIONSAND LEGAC*$ 2024. Tolol 2023 Toial ids 14051 t6,694 10,OLXI 11051 16,894 Pago 14

Walshv4.harn.¢olté#" (ykshirt Prtyerfl¢yl Llfflk¢d 11gle8 to iho Flnn£ial Sial0"Rio"ntr-conilnd forthe Year Endod 31 Dqufflb8r X+4 .OTUÉR TRA AcY1br[ES 2023 Toial "iw.d lyftds FLKbLa15kng.frKgrnii 4,541 4.S41 INVESThENTIN¢OIiE 2024.. TOW lurtfls 20.23 Tol .tun¢s Lkfe5tsi¢ied nds 114.431" 114438 121,47e INCOIIE FROMCHARifABLE.ACTlVtIE$" 2024 '20fJ 218 wjr 67.020 31.470 30.15Q 98,490" 89.fj54 OYHER INCOME OlktBf 4!crrfnè o! FS..552 12023.. £8.767Ymr¥th. &)ss d&posal ¢%ftxvl45$91s Énl'.12023: 1055 orts48)and Sti7100.its OFtI"i52.12fft3....315I. INVEStIAEpif IAAPIAGtAIEKf COSTS. .¥J24 2tr23 Iitnd PcdIO 16,19Q CMARITAOLE ArfbvmES.COSfS Coslsjse•" note>l rw15 Ise• Tdal$ Ctiprflablp acS¥i¥es"' .GovernarKo.¢osw. "229,.7fj7 '.229.707 f1.1n 11,17Y 11.177 240.884 Pap 15

.IVal6lngbarn ¢.oll+9•" (Yovkslilre'Prop•ii•>l UirAt•il "'Note"s to thE":FlnanaJ Ststhni¥•its".' nI10.. ,'for' the.year Endotj 31 DaGvTTkbtrf~2tr24 ,.DiRÉCTC05iS. OF CHARff.AatÉ:AThfE& 2024 ..Siall costs .Raw and l¢i5uw¢e 5tY 'Posl•39 wi(I,Aloiwe "3.0Skl ' Bilskness rnlS and courKII lax ).A25 1.998 .Books #rid TrncSDr iud ard.wNbynw Cxlitir Pri4trx> hind - ?5 SUPPORT COSfS '.Giiv•rn•n¢p60•ts 2024 7.657 EcouniarKy anii logal tss.' P"16"

WalSlTrJham ¢011 rkshlrt Pfopefiiesl Llml• Notos toth'FkianclaS Stem¢fjls..Mnthiued .'fr¥rthé Yiior bided 31 December2fy24 .11. .N¥f INCOMWIEXP.ENDmJRÉ) 2024 20rJ 7.375.. 5.738 Detye¢laiierfi: owfié¢ta55eis (YeficilQD'thspos01 Rxed ass•iÉ PenstOf costs .5.74 TIQUSYEES. REMUNERAT1014 AND 8ÉNEFffS Tt•$'•xp•nss Th?Tè tn1¥5, .expwffAs..".p"S kni the yw cits1 31 DEceTret 2024 the . W•Jed 31 Decerter 2023. 13. STAFF C.OSTS 2021 2023 Wagea 8t0 sJtsriÈs S¢¢lal 50umtye!JslS co3ls 5.938 5.744 105,459 2024 benefits.oTlhe key pwr5 d Ihg ¥Mrkyiw¢o£34A4 120.23.. £33'."8421, C<)MPARATIVES FOR TtrtE STATEMENT OF FINANCFAL Acyiyr To INCO* ANO ENDOWIAWS FRO .CtynqE1S anol1Ègao85 40ml 40".092 Cb#r!tabTo actNrfi06 baritebb xbvitses 0er iiadth9 acltyir "V¢YThènL 4.857 125.478 8.767. 121."478 Total 2S4,64B EXPEP4DITUAEON RalslnB funds"

.W41lftgh4¢¢IIeg• (YO$hIle Prop¢niesl LiTr¥l• NotÈ5'to Iht FltF**lal Stsiemls. Gonllnwts (Or thtryèar EFthd 31 D4¢¢bbe.1.2?24 14. ¢OMPARATWES R)RnÉsfATEMENf¢F FN4NCIAL AcnvmES. 11.;687. 17.687 17,687 241A7T 241.8n .G¢•anc• f45¢$ Totsl 1.7,667 270.459 108.696 1.28..1241 167,252) "Tr•n$fqr5'1Jet4¥eon PS.376) 198,.261 "PE¢QNCILIATIQN"OF FUNDS T ld$ lJrDuohl 2.910.G77 '3.429,&78 TOTAL FUNDS CAlthj.FQRy4AAD .3a3.9 '3.13& . 3.Xl2,.863 1$. TANGIBLE.FIXEOASSErs' Mlures COST Ai l JanY a024 589.943 4T,895. 129,751 17.6qO 767.596 19,548 Al 31 Dtr£mbera)24 .591,911 •T,395 147368 ?f,144 DFPRECIATION Ai 1 Jwuary.2024 .ChJYy. fory¥F 47.895 .91.858 Al 31 DeEerrthr2024 47,695 . 57.fl7.4 105,769 .NEfBOOK VALUE Al 31 tioeorrtJ9r2024 Ai31 D•"c6itar2023.. .591.981 e9.3Y 681,375 589,943 . 65".795 675,138 Paa• 16

'W41sln"Aham"C¢+W.. (YiirknKlwt"Piopeths> UmR•d 'Noto3 lothe Fltkiclal Sialém¢nts.:forrtlnii•d"" 4w.tlio Ye¥ Endèd 31,Oec"inkr.2Q24 Listed "MARK"vALlE. .Ai 1 !anw2 Additions .1.472,287: 865,65S .1674,6581 120.072 31 0ocwTrby.202a .'2"774.356 .NEf 800K VALUE. Ai 31 Oecembw .Al 31 O.eGniei 20Z3 "2,472,287 .iY. 2024 .18. DE8TORS: AMOUNfs FLLING DUE bWIIiIIN (iNE.YFAR 2024 SJ2) 370 soo PrepoyThor1ls'anJ'¥au Irttt 'VAT .21.02D 3¢A66 19. .¢REOIY(IRS": AiIOi#I¥S FALLWIG"DUEwfTriwio.NÈ..YEAR. 2024 Z3 TFa¢• .StcJal 5pCIErty.antl.(itFl,I&lèS 5.62$ 19,S26

IYoYkshlre Pfop¢rIlj Uw4•d Noteto th¢ F¥1¥1 StAtwnents"" contlw¢ for thEY&ar Ended 31 oB¢¢mr 2024 20. ANALYSIS'OF NEfAWS OEYWEEM FIINDS 2024 Toial 23 18,119 665256 ITI4356 081.375 2,774.356 196.Q1J 123.9191 615.738 1472287 4ZO.8B4 136.0461 In¥estmis 123.Mg) 1K213 3,439.612 1627.825 9.592.863 ATlyr¥ ofnet assets be wknrye Unr¢sWd El)rr1 thJTrJs 2023 Toi FTrAed ass Inve51m6niS Cumentasséls ¢knnl liotyll 9,087 666.651 2,472.Z67 515.738 2471,287 420.W (36.0461 136.0461 393.9Z5 3.138,930 3.532,863 MOVEMENT114 FUNDS TrarlIS Ai 1.124 31.1124 Unre5trlGted fvn 1173201 11144921 1502QB 1172201 048,4921 18ts13 Rgstrlct•d flind• Reslrfcted 116.0511 Endowmtnllund$ EtwJTh¥4llenl 3.130.930 9&131 3.439.112 TOTAC FUNDS 1532.863 9462 3ffi27.825 d..

Vlalsb.h0th Collag•." IYork>hlTv.Pmponi•$l ihriiled otesto Ilie Flnéft¢latst4leMnts' ¢onlJnts•d". .lorthv Y8ar.£nd•d 31 D¢rAn*r2924 21. 'MovÈhiÈNfw FUNfis.¢onbnuEd inL4ided kn th8 #bo¥e¥tras.ith&' UnTIiGtrltt1 YarAL FUNDS ' 2J9,715 .59 6741 14,921 94962 "Cothpafkii¥4sfor rnAv•nnith fiiiidg Tvdrtstets. Al 7.123 31.1223 ijrtreslilctedlun Rè5'eryas, Shar•'cap 124124 1672S21 489J 128.1241 1672521 393,925 Endowment lundts EodowThonl luTr1s TOTALFUNDS. 3.429.97 ID2 $,S32,863 Mowor4AI In {J$ untestrlcledlun.ds Ar 128,1241 ErylThynenl {.17.687} TOTAL FUI40S 1270..459 102.885

'IY¢rkshlre Propwlwl Not¢g'tO Ihé.FInFalStaI¢rn•ts-c0nui• lorih• £rtded Jl D¥¢6mr 2024 .21. MOVÉMEMf IN FUNDs.¢OTrtkngII Tr751qrs. At1.123 31.1224 489296 188208 sre 11 4tr3.301 145.3441 188213 16.051 116.051) 154D,6n 271.795 3,439,812 TOTAL FUNDY 3.429.978 197.PM7 3.Ek7,B25 A yezr 12 12 r1 Ip lh¢ at)w arg >5 In lufyts tsftrstrld¢d Iw 44&312 {4YJNfjI 145.W) Xo"5tr1Et¥d Iwid¥ Res1•0 14051 En"downitnlfviids 40,01)) IX4771 223.611 227.140 TOTAL FLINDS I.133> 797047 Thfj endtswnwJi the hwc cct of ryopwty.al Par¢e¥al Haj plw I1¢"'subwl eapi1g1 Yhè ov01 bab6 01 £1152T7 trw5fenEd tem 10 4 erydow¢rt lund resents Iha expéndlufe QI) ihe"effl#ed iiroporfi•s atsj w¥•sii%(Èd idnvoyierl wto all rrf ich •re fErthd capi*laoSets. f1¥9d...

IV¥lslngham Cg11•9•' (Yort6hlwg P14)p•fii¢$l Llmi1•41. .Nolts lti th.è Flnancial Slat•mnts ¢(•fitlnu lortheyear Ended 31 2024 ..EhPioE BEI4EFf OWGA?I(JNS Ibose ol Iho tlv.rfty In "an iNlépw¥kn",•y, aiknknsièrod ld. .Tha pthi co thar98 contrfbiilhin&. 'payabk ty ihè th" 16 fil &id wwJfiled lo £5,93812023: £6,744 ApAL COAIMITATS REiAreo PARPI IXSCLOSURES 2& .TImATE ¢ONTh(L PARfY. 1xm.¥ k'"¥thdly tyYrty"I by.WÈishtyPo"m Colege Trwl'"A5sodakn" regst8r8rt Gl4rily numli .215e6). rrtE regthtyed uryaThy iithJ8r OIY318W. ThE'&wty exists. lo 8valBbl$. Ihe.Shrbie of OL¢r Lady W,thingham, a.plac8 of .12rfae. .Th0'¢Mlrfalpy (an be fJ knlih ikÈ Re9.Atr¥ tl Ctyw4es 81 H¥e. Croth Way. Callfjif,'CF14 3UZ. SHARE CAPAL 2Q23 Iitetj, tslkn" up pa 20 of25p opE11G LEASE co1lITMErs AI 31"P9Egrt>or 2024 Lhe'lDbl of. I[ ase paw7% rrL1%è. toUrJ leases45:. AmDurt re1¥11• 23,911 elwètn 13rnl Sjtars. "9,648 Totst 35.621 35,778

IY.oikslilrfPiui¥èttsÈ¥l L&ItI '.1or'the"'.Yè4r.en'dod'ai 20.24 "Rèb.wt'oilh¢Tiusttts.: ."Report,olthe"'Ind¢pn<lent AudlrTr.. ,Notes-¢(+ ¢h"•"Flnanehl &ateh1ol*."

".W¥lsk4"h•m Collègts. .IY.ork$hl.Pf•P•rt1•5j Lknli•d ..RgPOIt of ¢hg TN$l¢8S. STr A Manll*.-.T¢LL8lg?" I

Walsingham College (Yorkshire Properties) Limited

Audit Findings Report For the year ended 31 December 2024

Executive summary

Walsingham College (Yorkshire Properties) Limited The Shrine Office

Walsingham

Norfolk

NR22 6EE

Dear Trustees

Audit Findings Report for Walsingham College (Yorkshire Properties) Limited for the year ended 31 December 2024

We were engaged to undertake the statutory audit of Walsingham College (Yorkshire Properties) Limited as formally agreed in our engagement letter dated 20 February 2023, for which we have carried out our work in accordance with the requirements of International Standards on Auditing (UK) (ISA’s (UK)).

The purpose of our audit is to obtain sufficient appropriate audit evidence in order to express our opinion as to whether the financial statements:

Give a true and fair view of the state of the Charity’s affairs as at 31 December 2024 and of the Charity’s surplus for the year then ended
Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
Have been prepared in accordance with the requirements of the Companies Act 2006.

We are also required to read the Trustees’ Report and any other information that will be included within the financial statements to ensure they are consistent with the financial statements and that they have been prepared in accordance with applicable requirements.

(continued) Executive summary

As required by ISA (UK) 260, the purpose of this report is to communicate our audit findings and record the discussions held with Matthew Cornish and Ian Austin on 11 April 2025. The report also describes any recommendations for improvement or deficiencies identified in internal controls, along with a summary of relevant regulatory matters applicable to the Charity.

We would like to place our thanks on record for the support and hard work from you and your staff during the audit, in particular Matthew Cornish, Steph Cat and Ian Austin.

This report is provided on the basis that it is for your information only, and that it will not be quoted from or referred to, in whole or in part, for any other purpose without our prior written consent. No responsibility is assumed by us to any other person who may choose to rely on it for his or her own purposes.

Julie Grimmer Senior statutory auditor For and on behalf of Larking Gowen LLP

Audit finalisation procedures

Audit opinion

We are pleased to report that based on our conclusions to date we have not made any modifications to our audit report and we will be issuing a clean, unqualified, report. As you will appreciate, our responsibilities extend up to the date on which the audit report is signed. If our opinion changes, we will contact you. The wording of our draft audit report is included within the draft financial statements that have been forwarded to you.

Results reconciliation

Letter of representation

We attach in Appendix A a draft of the management representation letter. We will ask the Trustees to approve this at the same time as they approve the financial statements.

Review of audit independence

During the audit process no adjustments were made from the result initially provided for audit.

There are no changes to our assessment of potential ethical threats and audit independence to bring to your attention.

Key audit findings

Our key audit findings are detailed within this report. These have been discussed with you, and the notes of these discussions and conclusions reached are included within the final report.

Areas of potential adjustment

Auditing standards require that, where we identify any potential adjustments to the financial statements that we judge to be non-trivial, we must discuss these with you and ask you to correct any identified as misstatements.

We have no potential adjustments to report.

Audit approach and significant findings

Risk and implication	Auditor commentary	Meeting discussion and conclusion
1.1 Revenue recognition Under ISA 240 there is a presumed significant risk of fraud in revenue recognition. The risk is that the Charity will record income to which it is not entitled, omit valid income, recognise income prematurely or inappropriately defer it.	To address the risk, we have: • Reviewed the revenue recognition policies to ensure they remain consistent with the stated accounting policy and the Charities SORP (FRS 102); • Specifically tested the significant donations in the year to supporting documentation; • Performed tests to confirm the accuracy of the cut-off of income at the year end; and • Tested the completeness of income received during the year through detailed tests on the accounting records and source documents. There are two matters we would like to confirm regards the donations received in the period: 1. Whether this should be presented as restricted income rather than endowment; and 2. Whether any gift aid is recoverable on amount received from an individual. We have also raised an observation on the possibility of claiming gift aid on garden entrance fees – see page 8 of this document. Subject to these points, we identified no matters that require reporting, and are satisfied that income is not materially misstated.	Agreed the donations are restricted for the greenhouse project. The draft accounts were updated to allocate to the restricted rather than endowment fund. Confirmed no active plan to claim gift aid on the donation, and as such agreed not appropriate to recognise in the accounts. For charity to consider whether to explore this possibility.
1.2 Management override of controls and journals Under ISA 240 there is a presumed significant risk of management override of control. The risk is that internal controls will be overridden by management in order to produce more favourable results or to divert funds. Journals are a key risk area in almost all audits due to their ability to influence almost every part of the accounting system.	To address the risk, we have: • reviewed the whole population of journal entries and other adjustments in the accounting system to identify higher risk transactions. These were then reviewed further to confirm they were appropriate; and • tested accounting estimates and reviewed the business rationale for any transactions that appeared to be unusual. *No instances of fraud or management override were identified.*	Noted, no mattes requiring further discussion.

(continued) Audit approach and significant findings

Risk and implication	Auditor commentary	Meeting discussion and conclusion
1.3 Investments existence and valuation The Charity has significant investments held at valuation. This is assessed as a risk due to the level of investments held.	To address the risk, we have: • Confirmed the closing value of investments to reports obtained directly from the independent investment manager, and further tested a sample of securities by agreeing the values to published data; and • Completed analytical review on movements in the investment valuations. *We identified no matters that require reporting.*	Noted, no mattes requiring further discussion.
1.4 Reserves	We would like to discuss with you the reserves position and treatment, specifically the split of fixed assets between funds. In the prior year, the Greenhouse was treated as an endowed asset. In these draft accounts it is treated as an unrestricted asset.	Confirmed the Greenhouse is integral to the estate and therefore should be considered endowed property, which is how it was presented in the prior year Accounts updated to reflect this (only as asset allocation point) it doesn’t impact carrying value or in year surplus.
1.5 Operations update	Before concluding the audit, we would like to discuss with you: • Update on lease agreement • Latest operating results and management accounts • Post year end minutes • Any significant post year end issues • Any significant incidents considered for reporting to the Charity Commission or other regulator, and other communications with your regulators • Issues giving rise to contingent liabilities/asset impairment concerns	Signing of Diocese lease hopefully imminent, and will be dated to commence 1 May 2025. Confirmed no matters impacting on audit or the financial statements.

Internal control observations

We highlight below observations and recommendations identified in our audit relating to your systems, internal controls, accounting practices and governance. The primary purpose of our audit is to express an opinion on the financial statements and that examination is carried out on a test basis and should not be relied upon to detect errors or irregularities which are not material to those statements. Auditing standards require us to notify you of any significant matters that require your attention.

Significant deficiency - matter requiring your urgent attention Deficiency - matter requiring your prompt attention Minor control deficiencies and recommended enhancements in control efficiency

Internal control observations (continued)

Observation and assessment	Implications and recommendation	Management’s response
Gift Aid on donations that attract a right of free admission to charity property	So long as certain conditions are met, it is possible to structure admission fees to view charity property as a donation, meaning that gift aid can be claimed. This includes meeting either of the following conditions: • a donation is made and in return the charity grants a right of admission to the donor, or the donor and their family, for a period of at least a year, at the same times at which the general public can obtain admission; and • a donation is made of at least 10% more than the cost of admission to the general public and in return the charity grants an equivalent right of admission to the donor, or the donor and their family. It may be possible that the entrance fees for the gardens could meet this. We recommend this is consider further.	Agreed that LG would provide further high-level information so this can be considered further.

Other information

Investment Policy

CCEW has issued revised guidance on Investments following a recent consultation, bringing it up to date and ensuring that it reflects recent legal developments such as the recent High Court judgement in the Butler-Sloss case. This guidance is set out in CC14 Investing charity money: guidance for trustees.

The key theme of the guidance is the need for trustees to adopt a responsible investment strategy, acknowledging that trustees have discretion to choose what is best in their circumstances and that they have a range of investment options available. Maximising investment return remains something for trustees to aim for, but not at the expense of compromising the charity’s purposes as ultimately the need to further those purposes should underpin all of the charity’s decision making.

To assist trustees the guidance provides examples of issues for trustees to consider when setting an investment policy, such as the potential for an investment to conflict with the purposes of the charity, or the reputational risk of an investment decision. In doing so it warns trustees from allowing personal motives, opinions or interests to affect the decisions they make.

The guidance also makes clear what actions trustees must take in order to be compliant with the law, such as when independent advice should be taken, and what is recommended best practice. The updated guidance also includes advice on the use of social investments that are used to achieve the charity’s purposes directly through the investment as well as making a financial return, and the different considerations that would apply.

Trustees of charities that make investments of any kind should familiarise themselves with this updated guidance and ensure that through its use they are able to justify that the investment decisions they make are in their charity’s best interests.

Guidance: https://bit.ly/3ZuUEQC

Other information

Complexities of Accepting Donations: Insights for Charity Trustees

Imagine your charity, dedicated to environmental conservation, receives a substantial donation from a corporation. Later, you discover this corporation has been involved in environmental violations. This gives you a dilemma: should the donation be retained to fund the charity’s environmental projects, or returned? This is an example of the nuanced decisions charities regularly face when receiving donations.

Charity Commission published guidance on March 4 2024: Accepting, refusing and returning donations to your charity, being their new roadmap for trustees navigating these complexities. Importantly, it underscores the principle that the starting point for charities should generally be to accept donations to support their purposes; but there are instances where charities must refuse or return a donation, and other circumstances where charity trustees can decide that it is in their charity’s best interests to do this.

When You Must Return or Refuse Donations

Sometimes this choice is clear – for example trustees must always refuse any donation that has come from illegal sources such as terrorist or other criminal activity. Additionally, if a donation is offered by someone lacking the capacity to make that decision or if the donation itself cannot legally be transferred to the charity, trustees must refuse or return such contributions.

Complex Decisions

Beyond clear-cut legal obligations to refuse or return, trustees often encounter scenarios that are fraught and finely balanced. For instance, donations might raise significant reputational issues, might not directly align with a charity's purposes, potentially risk legal claims, or impose conditions that could compromise the charity's independence. These situations require a considered approach, assessing the potential benefits against ethical, legal, and reputational risks.

Finances are of course relevant, particularly in a decision to return a donation that has already been received, as the charity may have spent it or budgeted to spend it. Trustees should therefore also consider the length of time since receipt, impact on the charity’s activities and whether the charity can afford to repay.

Legal Considerations and Trustee Duties

Trustees must ensure any decision to refuse or return a donation aligns with their legal powers, duties, and the charity's governing documents. Charities usually have a general power under the law to refuse a donation, but the governing document should be checked as there may be provisions that affect this.

A charity’s governing document will usually include provisions that allow it to return a donation, but, again, trustees must check that this is the case before deciding to do so.

Anonymous donations

Some donors want to remain anonymous, and a charity can accept anonymous donations. However, trustees should look out for any suspicious circumstances and put safeguards in place that they consider adequate.

If a charity operates abroad, check if accepting anonymous donations may not comply with local law or local tax regulations. Trustees should report a serious incident to the Commission if you receive an anonymous donation of £25,000 or more.

Rather than moving straight to a refuse/return decision, trustees are advised to engage in dialogue with donors, where possible, to change the terms of the donation so it can be accepted or kept.

Other information

Complexities of Accepting Donations: Insights for Charity Trustees (continued)

Ringfencing

In practice, if trustees do not consider that they have sufficient information or evidence to make a proper decision on accepting a donation, they could can ringfence the funds while further information is gathered.

Policies and Keeping Records

To set up a charity to meet these challenges, a policy for accepting, refusing, and returning donations provides a structured framework for decision-making. The policy should help with consistency, transparency, and alignment with mission and legal obligations.

As with other significant decisions, keeping records of decisions on accepting or refusing difficult grants, including the considerations behind the decisions, is essential and will make trustees well placed should criticism arise.

Final Thoughts

The key trustee duties are to make reasonable decisions about what is in the best interests of the charity to further its purposes, but not allow personal motives, opinions, or interests to affect their decision. There may be no right or wrong answer, but the trustees’ decision is required to be rational and reasonable, and supported by clear evidence.

Awareness of Charity Commission's guidance should give charities the confidence to accept donations where it is in the best interests of their charity to do so.

Other information

Diagnostic tools for charities

Healthcheck for charities diagnostic: This gives you a chance for you to "hit the pause button" for your organisation. Take some time out to refocus on what matters for your charity and critically assess what's working, what's not working, and what needs to change. This diagnostic is normally the first step in a wider review of how successful your charity is in creating impact. It is also a great way to kick-start your thinking and provide focus and clarity on where to prioritise your efforts.

Charity governance diagnostic: Good governance in charities is fundamental to success. A charity is best placed to achieve its ambitions and aims if it has effective governance and leadership structures.

Both tools can be accessed on the Larking Gowen website and start with a questionnaire that should take you around 5 minutes to complete. It will identify 3 key areas that are working well and 3 areas that you may need to work on to improve your charity. You will also see how you compare to global benchmarks for each of 7 principles reviewed.

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https://bit.ly/3BEEgDk
HEALTHCHECK
https://bit.ly/3PXVhMX
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DIAGNOSTIC
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PLEASE COPY OR PRINT THIS LETTER ONTO YOUR HEADED PAPER BEFORE SIGNING

Walsingham College (Yorkshire Properties) Limited The Shrine Office Walsingham Norfolk NR22 6EE

Larking Gowen LLP 1[st] Floor Prospect House Rouen Road Norwich NR1 1RE

Dear Larking Gowen

Walsingham College (Yorkshire Properties) Limited – Year ended 31/12/2024

We confirm to the best of our knowledge and belief that the following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience (and, where appropriate, of inspection of supporting documentation) sufficient to satisfy ourselves that we can properly make each of the following representations to you.

1. Trustees' Responsibilities

We accept the statement of trustees' responsibilities as disclosed in the Trustees' report.

2. Internal Control and Fraud

We acknowledge our responsibility for the design, implementation and maintenance of internal control systems to prevent and detect fraud and error. We have disclosed to you the results of our risk assessment that the financial statements may be misstated as a result of fraud. We have disclosed to you all instances of known or suspected fraud affecting the entity involving management, employees who have a significant role in internal control or others that could have a material effect on the financial statements. We have also disclosed to you all information in relation to allegations of fraud or suspected fraud affecting the entity’s financial statements communicated by current or former employees, analysts, regulators or others.

3. Preparation of the Financial Statements

We have fulfilled our responsibilities as trustees, as set out in the terms of your engagement letter dated 20[th] February 2023 under the Charities Act 2011 for the financial statements which give a true and fair view and for making accurate representations to you. All the accounting records have been made available to you for the purpose of your audit and all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all management and trustees' meetings, have been made available to you.

All known assets and liabilities (including, in particular, contingent liabilities) as at the balance sheet date have been taken into account or referred to in the financial statements.

In particular:

a) The charity has satisfactory title to all assets and there are no liens or encumbrances on the charity’s assets, except for those that are disclosed in the notes to the financial statements.
b) We have recorded or disclosed, as appropriate, all liabilities, both actual and contingent, and have disclosed in the notes to the financial statements all guarantees that we have given to third parties.
c) We have no plans or intentions that may materially alter the carrying value and, where relevant, the fair value measurements or classification of assets and liabilities reflected in

the financial statements.

Except as disclosed in the financial statements, the results were not materially affected by:

Transactions of a sort not usually undertaken by the charity.
Circumstances of an exceptional or non-recurrent nature.
Charges or credits relating to prior periods.
Changes in accounting policies.

The methods, data and significant assumptions used by us in making accounting estimates, and their related disclosures, are appropriate to achieve recognition, measurement and disclosure that is reasonable in the context of the applicable financial reporting framework.

4. Areas of Potential Adjustment

We confirm that we are unaware of any non-trivial potential adjustments to the financial statements.

5. Law and Regulations

We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing the financial statements.

We confirm there is nothing to report to you in respect of matters of material significance reported to Charity Commission nor any on-going enquiry raised by the Charity Commission.

6. Going Concern

We believe that the company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. We also confirm our plans for futures action(s) required to enable the company to continue as a going concern are feasible. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements. We also confirm the following disclosure within the financial statements:

The trustees have considered the charity's position at the time of signing the financial statements and have also considered the current financial strength of the charity. Based on this, the trustees have concluded that they have a reasonable expectation that the charity will have adequate resources to continue in operational existence for the foreseeable future, and at least twelve months from the date of signing these financial statements, they therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

7. Related Parties

Related party relationships and transactions have been appropriately accounted for and disclosed in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with the requirements of the Charities Act 2011 or the SORP.

8. Litigation and Claims

We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for and disclosed in the financial statements.

9. Subsequent Events

All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed.

10. Grants and donations

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 in the application of such income.

We 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.

Yours faithfully

Signed on behalf of the Board of Trustees

Signature :

Title : Director

Date :

11 Larking Gowen Holt Fakenham About Us Norwich Whatever your financial needs. Larking Gowen is committed to Securing your future and helping you reach your goals. Diss Our values are about service and commitment, both to our clients and our people. We build strong, dedicated teams that share knowledge and expertise for the benefit of all our clients, delivering a friendly one-to-one service you can count on. Ipswich Ideally placed to help businesses across: Norfolk Suffolk Essex Colchester We have teams specialising in corporate finance, personal tax, legal, medical, tourism, not for profit, business recovery and business strategy and support. Trusted business advisors with a friendly one-to-one service Our chartered accountants and specialist teams have years of knowledge and experience Comprehensive accountancy and advisory service Advising clients for over 100 years A UK top 40 accountancy firm More than 350 employees Committed to you.

Committed to you.

Engagement partner Engagement manager Auditor in charge larking-gowen.co.uk

Julie Grimmer Chris Yeates Mann Merchant

Julie.Grimmer@larking-gowen.co.uk Chris.Yeates@larking-gowen.co.uk Mann.Merchant@larking-gowen.co.uk

Disclaimer

This report is provided on the basis that it is for the information of the directors of the above named entities only, and that it will not be quoted from or referred to, in whole or in part, for any other purpose without our prior written consent. No responsibility is assumed by us to any other person who may choose to rely on it for his or her own purposes.

“Larking Gowen” is the trading name of Larking Gowen LLP which is a limited liability partnership registered in England and Wales (LLP number OC419486). Where we use the word partner it refers to a member of Larking Gowen LLP. Registered to carry on audit work in the UK, regulated for a range of investment business activities and licensed to carry out the reserved legal activity of non-contentious probate in England and Wales by the Institute of Chartered Accountants in England and Wales. Larking Gowen LLP is an Independent Member Firm of PrimeGlobal, a worldwide association of independent accounting firms. (Ver. Jan22) © Larking Gowen LLP

2024-12-31-accounts

Walsingham College (Yorkshire Properties) Limited

Executive summary

Audit Findings Report for Walsingham College (Yorkshire Properties) Limited for the year ended 31 December 2024

(continued) Executive summary

Audit finalisation procedures

Audit opinion

Results reconciliation

Letter of representation

Review of audit independence

Key audit findings

Areas of potential adjustment

Audit approach and significant findings

(continued) Audit approach and significant findings

Internal control observations

Internal control observations (continued)

Other information

Investment Policy

Other information

Complexities of Accepting Donations: Insights for Charity Trustees

When You Must Return or Refuse Donations

Complex Decisions

Legal Considerations and Trustee Duties

Anonymous donations

Other information

Complexities of Accepting Donations: Insights for Charity Trustees (continued)

Ringfencing

Policies and Keeping Records

Final Thoughts

Other information

Diagnostic tools for charities

Walsingham College (Yorkshire Properties) Limited The Shrine Office Walsingham Norfolk NR22 6EE

Walsingham College (Yorkshire Properties) Limited – Year ended 31/12/2024

1. Trustees' Responsibilities

2. Internal Control and Fraud

3.

Preparation of the Financial Statements

4. Areas of Potential Adjustment

5.

Law and Regulations

6.

Going Concern

7.

Related Parties

8.

Litigation and Claims

9.

Subsequent Events

10. Grants and donations

Signed on behalf of the Board of Trustees

Disclaimer