REGISTERED COMPANY NUMBER: 00398716 (England and Wales) REGISTERED CHAR[ NUMBER: 216064 of the Tntstees and Flnancial Statemonts for the Year Endad 30 t¢mbgr 2025 Whltohaven Trust Limtted
Whltehav8n Trust Umlt Contents of th& Flnanclal St*em¢nts forthe Yw Endod 30 Se embor 2025 Report of th¢ Trustees Report of thg Independent Audltors Statem¢nt of Flnanclaj Activltles 10 Balan¢9 Shoot 11 to 12 Cash Fbw Statement 13 Notes to tho Cash Flow SL71•mt 14 Notos to tho Flnanclal Statements 15 to 23
Whitèhaven Trust Llmlted istered number. l)0398716 of tho Trustees for the Year Endod 30 Se tember 2025 The trustee8 who are 2150 directors of the charity for the purposes of the Companies Act 2006, present their report th the flnanclal statements of the charity for the year ended 30 September 2025. The trustees have adopted the provlslons of Acc(xJnting and Reporting by Charities.. Statement of Recommended Practice appllcable to Chties preparing their accounts in aCC(dan wlth Ihe Financial ReF#xUng Standard appllcable In the UK Republic of Ireland {FRS 102) (effthe 1 January 20191. OBJECTIVES AND ACTivrriES Oblectiv&s and alms The obj&ts of the charity a5 set out in the Arbdes of ASlatIon of Vthitehaven Tnjst Ltd dated 20 September 1 arKI regularfy reviewed are.. "to rellgve need by provldlng care conslstent whh tho practlces and teachlngs of Chrfstlan Sclence, as sgt out In the Writlngs of Mary Baker Eddy? whl¢h may in partlcular Include: a Christlan Sclenco nursing faclllty: Chrfstlan Sclence nursing In th¢ homo; residentbal accommodatlon. as515tance and Support; and flnanclal assistance for those who aro unable to pay for ser4lces providgd by the Charlty. To advance education by provlding andlor fundlng tralnlng In Chrlslian Sci8ncg nursing as $91 oul In the wrltlngs of Mary Bakor Eddy.- Slgnincant actlvltles The Trust currently provldes Chtstian Sclence Nursiw care SerVS thrcdjgh the Wslung Christian Science Nursing Servlce {VCSNS} based in Bristol, England patlents in their ovm home. Thls seThico is permitted to 0rate In England only, under Care QUty Commission reoulalions. The servlce may also operate in Wales rf the provtslon of care arKI support to four or fewer individuals at any one tlme. Any individual interested In seekiro healing through Christian ScierK may apply to use our Visiting Christian scler Nursing see IVCSNSI in Englar, providing they are worklng wlth a christh ScSence practitioner listed in the current edilKJn of The Christian Science Journal arKI a relying on prayer In Christian ScnCe as thelr orly means of treatment for healing. Al the start of this calendar year, Whitehaven Trust rdocated its offices to 2440. Tha Quadrant, Aztec We8t, Bristol, BS32 4AQ. Thls followeé a decisK)n by Trustees lo find a more suitatle pla¢e lo hokl meetings, with the flexibllity of addlth)nal space if required, and modem facilities. The Offi space Is managed by Regu8, and we rent this space monlhty. To offset Ihe cost, the Trust applied to Brlstol Council fr permSssh)n lo convert our wevlou8 ofllce spa(x into anothw self-contained fial. Not onty wlll the IncA)me cover the c081 of the offlce rental but wlll matefialty increase the value of the proFwty. As of 30th Seplember, th8 work Is still ongoing. Durfng thls flnanclal year, the VCSNS has lled uwn the serv$ of other Chrlslian Science nurses in the Journal who have been willing and able to help visit our patienls whw) the service has been parti(xJlarfy busy. Du8 to the Increas activity the VCSNS is seeiro. al0 with the need for additional mentoring of our four students, we have approached a Christian scler Nurse In the USA who has expressed intere51 In worklng part-time for the VCSNS. From Sèptember 2025, Whitehaven Trusl look the deci8K)n to remove all travel costs for patlenls. meaning those using the Serv onty pay for the time Chri8tian Science Nurses spend with them. This was something that had been considered for some lime and after securing some additional funding. we were able to make this possible. The Trust will be revrvwing this decision after 12 months. Page 1
Whltehaven Trusl Llmttod R Istered number. 00398716 rt of th? Trustees for the Year Endod 30 Se temljer 2025 OWECTIVES AND ACTIVITIES Public bengfit In reviewing the Trust's aims and otye¢twes the truste6s have referred to guidanc8 on publ1¢ benefit which has been provhleé by the Charity Commission in both the ge1ra1 guide and in th8 spe¢m¢ gulde to fee-charging charities. Patients of the Visiting Christian S¢ienLx NursirvJ (VCSNS) are issued with a Statement of Cost for the servlces provided lo them. Statement8 of Cosl Issued to patients of the v51ng Christian ScierK8 Nursing seiCe are calculated lo recover only the d1 me sFenl with the patient by the Christian Science nurse. and any overnlght accommodatlon that may be required if signfficant is required over o)nsecutive days. full costs of the care, iluding travel, management and administratton costs. are not COV8r8d ty the Statement of Cost. If patlents are unable to afford the full contrlbuEk)n to Ix)ver the Slalement of Cost from thelr own resources, they are en(x)uraged lo apply for assistance from the Aid Fu1 for Christian Scientists in Need of Nurslng Care provlded Ihey MAY the financlal c¥iteria laid down by the Aid Fund. The Tru81 may give benevdence to patients who are not aNe to meet Statement of Cost from their own re8(mjr$. the Aid Fund, or any other grant-making IKxty. IndNiduals are made aware of this policy each lime they contribute lo the costs of their care. STRATEGIC REPORT Achlovements and performance Achl8v8m8nt and pBrfomianoe- V181tlng Chylstiw Sdenco Nurnlng Service Whitehaven Trust Ltd continues lo provide Chrlsfjan Scie Nursiro Care services for patients in Ihelr own FK)ffles through the VisitirvJ Chrlstian scnCe Nursiry Serye NCSNS). The office 18 based al Aztec West siness park in Bristol. These premises and VCSNS service are registered with The Care Quality Commission {CQC}. Three of our students r1Ved Level 2 d2$srix)m trdining and other student re(ived Level 4. They are all now beiw mentored as they appty and ¢onsdKlate Iheir learning wlhln the VCSNS. We are continulng lo work with both Lime Tre8 House & Le Verger in providiro more mentng opportunities for our students. lllcome from the VCSNS, a measure of our actlvlty, increased again by around 3Vo on lasl year. The servlce continues lo be active throughout EngLand, IrUdIng some cases where we have provided Christian Sclencè Nurses around the clctk for a short p)d of time. Achlevement and Pèrforman¢e- Summary Whitehaven Trust continues to Iwve a rthoperatr¥e rel8th)nshlp vth the Care Qualty Commlssion (England). All inspection resums are available on fhe CQC w8bstte arKI on ww.whilehaventrusl.co.uk. The Visiting Christian S¢len¢e Nursing SeNice has a Ceruficate of AuThfitation wllh the Commlssion for the Accredilation of Chrlsllan Science Nursing OrganisatK)nsffiaultlS Inc.. USA which is valid untll July 2026. As the Trust continues to train Christian Science nursing sttjdents, we will b6 atle to meet the growing demand for al-home Ca we are seeing within the Chrlgtk4n stie communty. Actlvltl¢s The AGM was held online on 29th April and Trustee meetiros have been held 01 and in p8rson on allernale months. Further talks were glven on Whttehaven T1 and Christian Scn(* nursing in th8 UK, In(4uding one talk in Northern Irdand. Newsletters were dso distributsd in this finaneial year. uwJ8tlng the Chrlstian Science fidd on our actlvity and remirKling them that we are available as needeil lo provide this care to indNiduals in their communty. At tt)e end of y8ar, the Trust made the decision to remove all travel costs from our charges, meaning patEnts wThild only pay for the Clyistlan sGiere nursing h(xJrs to ensure p&ity between the regions. Page 2
Whltehaven Trust Llmitod R Istored numbor: l)0398716 rt of thg TBeS for the Year Ended 30 Se tember 2025 STRATEGIC REpoRr Financial roview Flnancial position As of 30 September 2025. the ¢harty had fuThYs of £4.83m. none of which were restrlcled. Assets totalling £1.65m are included withln funds that would rt be realisable without the sale of investm8nl properties. Cash of £0.53m along wlth cash held in the investment portfolio of £0.028m provides slrfryant Ilquklity for the tru51ees to be able to COlde that reserves available will be sufficient to cover any short lo medium temi cash requirements. and that on this basis the chartty i8 a gilng corKem. Our investment propert5 have seen an increase In their valuè from £1.52m in 2024 10 1.&kn in September 2025. Our net Irne for the perh)d was £113,117. Our income from charItae aGtivilw has rFsen ovw the lasl tTrKe8 years going from £41.158 at the end of 2023 to £114.208 in 2024 and finish this year al £120.690. Whltehaven Trust- Rogistgred offlce 2440, The Quadrant, Aztec WesL Almondsbury. Bdstol, BS32 4AQ Investrnent Properties Whilehaven Trust Ltd continues to let seven flats at market rents to T8ise revenue for the Trusvs charItale actwities. They are IrThled al 28130 NorthumtNia Drnie, Bristol BS9 4HP, they are WrnItY Vall at £1.65m. Inve¥tmont poll¢y and obJectfve8 AJI investments held have been aCQued In accordan with the Trusf8 powers.. they a managed by our FX)rtfolio managers al Ralhbones to provlde a mixture of capital growth and income. Investments are made only in Ih05e areas of the market that are not InvrAved with armam8nts, tobacco, drugs, or alcohol. The inveslments are reviewed regulady by the CEO wTrih Ihe pK)rtfolio manager, and the Trustees meet 1 Rathbones atloasl once a year lo mnitor the management of Whitehaven's portfolK). R059rves policy The reserves fund and th8 Frf)licy on reserves ¢on15nue lo be kept uThJer close review. The trustees, aim is to maintain unrestted reseNes at a level gutrthnt to Cover a yearfs running costs. Due to the costs budgeted for 2025126 being £0.79m, this is more than we have on hand in Sh. We do have a further £200,000 In a high interest account which malures In August 2026. a1 we can al80 draw dovm from investments at any time. Our budgeted def11 is £340,]0 and we have enough lo cover thal beiween our three accounts. Rlsk Assgssment and Alanagement Th8 Trustees undertake an annual Risk ldenlfficatn and ManaMent Assessment whlch conslders flve main categori88 of risk.. goveman¢e arKI management. opwational, financial, external and compl19n with law and regulations. Flnanclal and risk managemen¢ <*bJe¢tlv¢s and pollcle8 There is no significant txice ¢redit risk in rdalion to the charItae actNities. The investment portfolio is subject lo pr8 and credrt risk, but this is managed in line the inv&stmenl polry lo ensure a balanced portrolio. There was no Inte51 rale risk in the year as no monies were borrowed. Liquidity and cash flow risk are monitore¢J. Cash arKI liquid assets are malntalned at a kvel to ensure compliance wllh the reserves policy. The Trustees ntinUe to review all aspects of the Tnjsls operatKY)5 al their monlhty meetlngs, including the budget and monthty management accounts, and to review the Risk Assessment and Flnancial Procedures annually. Page 3
hitehavgn Trust Umlted R Isterod number: 00398716 ofthè Tte8S forthgyear Ended 30 Se tember 2025 STRATEGIC REPORT Future plans Our Visiting Chrisllan Science Nursiro S8rvKe (dOMliary we) will continue to provkle ¢are in Erwjand and limiled care in Wales (up to no more than four patnts at any time>. Trustees are focused on expanding thls ovIsK)n for patients who want Cmstlan Science nursing care, by supporting and training our students of Chrislkqn Science nursing. The ITUSt k8 also Iking at drfferent ways of empkjylng qualrfied Christian Scienc8 rHJrses elther a part-time or fvll-time basls to cover work aThJ supwt the mentoring of trainees. The Trust Continues lo review trainlrKJ programmes for Chrislkgn scien Nurslng trainees from bDth the UK and abroad lo increase the avallabillty of staff to run our charitable activlties. We are working to progr855 our Students through their training program by provKlirvJ Sufflent mentoring ané training optunit, working towards the shared goal of Jrnal listing which w(MJld improve our ach and avallablllty in providing Chrlslian ScierKe nursing care. We are also succ8ssKsn planniro and puttlng staff through further regulatory trainiro lo build resilience wlthln organi8ab'on. STRUCTURE, GOVERNANCE AND MANAGEMEP Governance Whitehaven Trust Ltd 18 a regi5tere(i rharity, number 216064. It Is also a company incorporated under the Companies Acts, number 00398716 limited by guarantee and not having a share capital. as defi[ by the Companies Act 2006. It is governed by a meMoralum and ArtK48s ofA8sociatK>n last rtrK%ed 21 January 2011. Membership of Ihe o)mpany is restrted lo members of The Fyst Church of Chrtst, Sclenti5t, in Boston, Ma5sachusetts. USA who are $knlenls of an auttNNised teacher of Christian Science. Company Members are appointed by invltalk)n on a regular basis. Structure Whilehaven Trust Llmited 15 affdialed to the Associalton of Organisations Christian Sclence Nurslng and is accredited by The Commlsslon for Accreditation of Cmstian Sciene* Nursing OrganisationslFacdities Ir. In the Usq Ythh sets the slandards for Cthstian SCn Nursing. The Vislliro ChrL81kqn S¢lence Nursing serv IVCSNS) i8 registered wth the Care Qualmy Commission (CQC) Englané. Management The Trustees who are also dirlorS of the chwity for the purFTh85 of the Companles Act 2006, are appointed by Company Members at the Annual Geller Meeting. They meet monthly and take all decisions pertalnlng to mallers of pdiGy and drection. delegate th8 day-to-day runnlng of Ihe charity lo the CEOICompany Secretary, and the Visitiro Chrislian Sryence Nursing Man4er. New Trustees receive an inducllon covering the main areas of the organisalion and their res[SibIlitieS as Trustees in accordance with Ihe guldance from the Charty Commission. They will dso be sent on approprlale training courses as required. The CEO/Company SecretarylNomlnated Indtvidual wll utxjale Truslees on changes in regulations and the law. Page 4
Whl¢ehav•n Trust Llmtted istered number. 00398716 rt of the Trustees for the Ended 30 Se tember 202 The members of the Board of Trustees who served throughout ts year a sel out below. REFERENCE AND ADMINISTrATIVE DEfAILS Rogistered Company numbor (XJ398716 {England and Wdes) Reglstered Charlty nurnb8r 216064 Reglstered office 2440 the Quadrant Aztec Wesl Bdslol BS32 4AQ TNstee8 E A Wllson Teacher A E J Mclntyre H M Haughton Retired (resigned 31.12.25) J R sI1alr Retired Audltors Sumer Audilco Limited statulory Auditor Chartered Accountants Lennox House 3 pIerpon1 Street Bath Somerset BA1 1LB Soll¢ltors Stone King LLP Upper Borough Court Upper Borough Walls Bath BA11RG Brokers Investec Stockbrokers and Fund Managers 3 Temple Quay 3 Temple Back E Redcliffe Bristol BS16DZ Bankers CAF Bank Llmlted 25 Klngs Hill Avenue Klngs Hill Wesl Malling ME19 4JQ STATEMENT OF TRUSTEES. RESPONSIBILrriES The Iruslees (who are also the directors of Whilehaven Trust Llmtted for the purposes of company lawl aro responsible for preparlng the Report of the Trustees and the financwl statements in acc(*dance wllh applicable law and United Kingdom Accounting Standards (United Inrn Generally Accepted Accountlng Practlcel. Page 5
hav• ust ited istè num 3987 Rg th Year En STATEMENT OF TRUSTEES. RESPONSIBILITIES - contlnued Company law requires the trustees to prepare financial statements for each financial year. Under that law. the trustees have èlected to prepare the financial slaloments in accordance wth United Kingdom Genwalty Ac¢epled Accounting Practice (United Kingdom Accounting Standards and applicable lawl- UndeT company law the trust must rKJt approve the fSnancial slalemenls unless they are Satisfied that they give a true and fair view of the stal$ of fairs of thè charitable company and of the incoming resources and applicalK>n of resources. including the income and expeThJilure, of the Charitable company for that period. In preparing those financial slalements, the trustees are requid to sèlect suitable accounting polici&8 and then apply th&m consislenlty.. obseNe the methods and principles in the Charities SORP., make judgements and gstimales that are reasonable and pwdenl., slate wh&lher applicable accounting andards have been folkjwed, sthject to any m81erial departures disclosed and 8xplained in the f inancial statements., prepare the financial stalernents on the going conGem basis unless it is inappropriate to presume that the charitable company wll continue in business. The trustegs are responsible for keeping Proper accounting records which dlsck)se wth reasonable accur8¢y at any lime the financial position of the charitable company and to enable them to &nsure that the financial statements cornp wth the Companies Act 2006. They are also responsible for safeguardlng the 8ssets of the ¢harilabl8 ¢onpany and hence for lakiThJ reasonable stws for the prevenlion and detection of frdud and other irregularities. In so far as th8 trust are awa.. there is no relevant audit infomiation of vthich the charitable company's audmors are Unawa., and the twslees have taken all steps that they ought to have taken lo make Ihemsdves aware of any relevant audh infom)alion anil to establish th* the auditors are aware of that infomiation. AUDITORS The auditors. Sumer Auditco Limited. will be propos for rg-appointment at the forthcomlng Annual General Meetirsg. Report of the Iruslees. in(x)rporating a strategic report, approved by order of the board of trustees, as th9 Zo company directors. on ............................................. and signed on the bDard's behalf by.. E A Wilson - Tnlee Page 6
rt of the Inde endent Audltors to the Trustogs of Whlt•haven Trusl LSmlted Oplnlon We have audlled the finanal statements of Whilehaven TNSI Lirned (Ihe 'charitae companYI for the year ènded 30 September 2025 whlch comprise the Statement of Flnancial Activitles, the Balance Sheet, the Cash FFOW Statement and notes lo the finanual statements. irKILKling a summary of SignnI aGoounting policies. The flnancial reportiro framework that has b08n apFAied in their weparation is appllcable law and Unlted Klngdom Accounting Standds (United lQngdom Generally A¢¢epted Accounting Practice). In our opinlon the financial statements-. glve a true and fair view of the slate of the charitae ¢ompany's affairs a5 at 30 September 2025 ané of Its inGoming resources and application of resources. including its income and expendlture, fo[ the year then end,. have been property prepar1 in acCOrdar 1h United KirKJ(h)m Genwally Apted Accounllng Practice,. and have been wepared In accordance with the requirements of the Companles Act 2(M)6. Basls for oplnlon We conducted our audlt In accordance wth IntemalK)nd Standards on Audltlng (UK} (ISAS {UK)l and applicable law. Our spOnSibl11119S undw those standards further described in the Audllors, responsibilities for the dit of the fInarla1 statements section of our report. We are independent of the charitable company In aCdance with the elhKal requwements that are relevant to our audit of the flnancial statements In the UK, including the FRC'S Ethical Stand¥d. and we have our other ethical responsibilities In awrdance wth these requirements. We believe that the audit evidence we have obtained 18 and apwopriate to provKle a basis our opinh)n. Concluslons relating to golng concern In auéiling the financial statements. we have (xjrduded that the trustees. use of the going concern basi5 of accounting In the preparation of the finartial Statewts is approwiate. Based on the work we have performed, we have not Ident[r any materfal UrtaIntieS relallng lo events or conditions Ihal, IndK1ua1ty or collectivdy. may cast SUnan1 doubt on the charrlable company's abllity lo continue as a going corttm for a perKKJ of at least IAYdve months when the finala1 8t8tements are auth(Kised for Issue. r resFX)nsibilitss and the reswnslbilhles of Ihe St88S wtlh respect to wlng ¢onGem descrItrd in the relevant sections of Ihis report. other Infomiatlon The truslees afe responsible for the other information. The other Infomwkn comwises the irrformation included in the Annual Repor( other than the financial statemenls and cxjr Report of the Independent Au(Jilors thereon. Our oplnlon on the financial statements does not cx)ver the otlw Infom)ation aThJ. except to th8 extent otherwlse expllcitty staled in our rep(L, we do not express any forni of assuran condusion thereon. In connectlon with our auilit of the finarjaI statements, our responslblllty is lo read the other infonnatn and, in doing so, conshler vthethw the other infonnation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materialty mi5Stated. If we klenlify such material InconsisterleS or apparent material misstatemenls. we are required to det8rmlne vthether this gives rise to a material misstalement in the ffinarrial statements themsefves. If, based on the work we have perfomied. we conclude that there is a mat181 misslatement of this other information. we are required to rert that fact. We have rthIng lo rewrt in this regard. Matter8 on vthlch we are roqulred to report by •xc¢ption We have nothlng to pOrt in respect of the folkw'ng malters where the Charities (ACcnts and Reports) Regulallons 2(XJ8 requires us to report to you rf, in our Opinn.. the informatlon gwen in the Report of the Tnjstees is inconsistent in any material respect with the Inancial st*ements', or the Charitable company has riot kept adequate xcounting recx)rds". or the finanual statements are rK)t in agreement wlh the acc¢yJntiwYJ records and returns.. or we have not receNed all the inf(mation and explanation$ we require for our audit. Page 7
ort of ¢h9 Ind rKlent Audltors to tho Trustees of Itohaven Trust Llmltqql Rgsponsibllltles of trusttss As explained more fully in the Statement of TnJ8tees' Resportsibililies. the truslees (who are also the directors of the charltable company for the purposes of company law) are responslble for Ihe preparation of the financial 81alements and for belng satisfied that they gNe a true and fair view, and for such internal cA)ntrol as the trustees determine is necessary to en8e ts w8pwation of finan¢Lql stalemenls that are free from material mlsstalement, whether due to fraud (K error. In preping the financial statoments. the trustees are resportsit4e for assesslng the charitable company's ability to continue as a going concem. disc408ing, as applKabl8, Matte related lo going concern and Ljsing the going concem basis of accounti unless the tnjstees either intend to liquldale the charitable company or to cease operatlons, or have rK) realis altemative to do so. Our rosponsibilities for the mIlt of tho financlal statements We have been appointed as audllors under SectKsn 144 of th8 Charllles Act 2011 and report in accordance with the Act and levant regulalons made or havirvJ offt thereunder. Our objecteS are to obtain reasonable assurance at1 whether Ihe flnancial statements as a whole are free from material misstatement, whether due to fraud or err. and lo issue a Rety)rt of the Independent Audllors that includes our opinK)n. Reasona8 assUrae L8 a high level of assurance, but is not a guarantee that an audit conducted in a(xordance wth ISAS (UK} will always detect a material misstatement when it exists. Misslatemenls can arise from fraud or error and are considered material rf, IndividulY or in the aggregate, they could reasonably be expected lo irrfIuee the nOMiC decis of users taken on the basis of these finanal statements. The extent lo which our prowlu5 are (3pable of delectirYJ irwularities, iUdI fraud18 detailed b810w.' Explanation as to whal extent the audit vrns consldered cW¢ of detoctlng Irregularltl8s. Includlng fraud The objectives of our audh In pect of fraud, are; to hlentify and asse5S the risks of material misstatement of the financial statements due to fraud" to obtain suffient appropriate audit 6vIden( regarding the assessed risks of materlal mlsstalement due to fraud. through designing and Smplementinu appropriate resFK)nses to those assessed rlsks., and to reswnd approprialety to Ill5tareS of fraud or suspeclod fraud idenlift8d during the audll. However, the primary responsibility for the preVentn and detection of fraud rests with both management and those charged with g0Vemar of the company. Our approach was as follows: We obtained an underslandlng of tt)e legal and regulat(Ky rwuirem8nts applicable to the company and onsidered that the mst signrficant are the compan Act 2006, Charities Act 2011, UK Finala1 R8POrtlro Staar(Is and UK laxatKfyn legKslation. We obtained an unéerslanding of how the company )mplIeS these requlrements by dis(#Jsslons with management and those charged with governance. We assessed the rlsk of mateTYal misstatement ttrE financial statement9, Induding the risk of materfal misslalement due to fraud and how it mMJht ¢xYxJr. by holding di8cussM)n$ wlth management and thos6 charged wtth governance. We inqulred of management and those charged with govmnce as lo any known Instances of non-(xymplian¢e or suspected norFcomplIan( Mlh laws and regulallDn$. Based on this understarKllng, we desed Specif appropriale audit procedures lo identfy instances of non40mpliance with laws and regulations. This inclltded making enquiries of management those charged with govwnan( and obtaining additional c#)rrObfve evidence as requlred. A further descriptbn of otjr resEMJnsibilities for the audil of Ihe f nancial statements Is lorated on the Financlal Reporting Councll's website at www.frc.g.UkjaUditOrSpon$IbIll1ies. This description fomis part of our Report of the IndeperKlenl Auditors. Page 8
Re ort of the Inda gndent Auditors to thg Trustees of Whitghaven Trust Limlled Uso of our report This Teport is made s(Aety to the tharitabk company'8 trustees. as a ly)dy. in cOrdanCe with Part 4 of the Charities (Accounts and Rep$> Regulations 2CI)8. Our audjl work has been undertaken 50 that we might slal8 lo the charitable companls Iruslees those matters we are required to stale to them in an aLKlitors' rep)rt and for no other purpose. To the fulbst extent permrtted by law, we do not accept or assume responsibility lo anyone other than the chanlable (MpanY and the charitable company's Irustees as a body, for our audit work, for Ihls report, or for the opinK)ns we have fi)Tmed. for and on behalf of Sumer Auditco Limlled statutory Auditor Charted Accountants Eligible to act as an audit in terms of Sectkm 1212 of th8 Compani89 Act 2006 Lennox House 3 Pierreponl Slre8t Bath Somersel 8A11LB Date.. p89
Whltehaven Twst Limlted Statement of Flnan¢ial Actlvltles for the Year Ended 30 So ber 2025 2025 Total funds 2024 Total funds UnrestrKted Restrted fvn funds Notes INCOME AND ENDOWMENTS FROM Donatlons and legacies 127.257 14,514 141,771 208,4C Charltable aGlivltlg8 Nurslng Care Services 120.960 120, 114,203 Inveslmont irorne 16).530 Tolal 408.747 423,261 EXPENDITURE ON Charitable aGtlvitles Nursing Care Servic05 GovernanGe Gosls 453,782 8,460 4.514 458,296 8,460 362,093 8,040 Other 69,286 69.286 Total 531528 4.514 415,839 Net gains on Invegtmenls 225,898 NET INCOME Transfers bgtween funds 103.117 10.000 10,0 113,117 226.066 18 Net movement In funds 113,117 113.117 RECONCILIATION OF FUNDS Total funds brought fcNward 4.717.714 4,717.714 4,491.648 TOTAL FUNDS CARRIED FORWARD 4.830,831 4,830.831 4,717,714 The notss form part of these finala1 Statements Page 10
Whitehaven Trust Limlted i8tered numbor: 00398716 Balance Sheet tember 2025 2025 Total fijnds 2024 Total funds Unrestted Restrted fund funds Notes FIXED ASSErs Tangible assets Investmgnts Investments Investment propety 12 14,510 14.510 11,277 13 2,654,894 14 1,650,IXX) 2,654,894 2,753.396 1520 000 4,319.4t14 4.319.404 4,284.673 CURRETrrr ASSETS Stocks Debtors Cash at bank 15 16 833 21,901 1.302 71.572 396.103 21.1 527.482 550.216 550.216 468,977 CREDrroRS Amounts falling due vAthln one year 17 (38,789) 138.789> (35,936) NET CURRENT ASSErs 511427 511.427 433,041 TOTAL ASSETS LESS CURREKr LIABILITIES 4.830.831 4.830,831 4.717,714 NEfASSETS 4.830.831 4,830,831 4.717,714 FUNDS Unrestricted funds 18 4,830,831 4717714 TOTAL FUNDS 4.830 831 4.717.714 The charitable Company is entiljed to exemplion from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025. The members have not deposited not. wrsuant to Section 476 of the compan Act 2006 requirlng an audit of these financial statements. The tru$lees ackno%edge their r8sponsibilities fc lal ensuring that the charitable company keeps accounting rdS that MplY wmh Sectn$ 386 a1 387 of the Companies Act 21KK and (b) pParing financial statements whKh gNe a true and fail vw of th8 State of affairs of the charitable company as at the end of each finana81 year and of its surplus or deficit for each financlal year in accordance wllh the requirements of Sections 394 arKI 395 and whh otherwise comply with the requirements of the Companies Act 2C¥)6 relatlng to financaal ststements, so far as applicable to the charltable comF)any. The notes fomi part of tTrwe financ4al slalements Page 11 continued...
Trust Llmi is er: 0039 Sha•t- tinu8d 30 These financi81 ststements have been audited under the requirements of Sectk)n 145 of the Charities Acl 2011. The financi81 slalemgnts were approved by the Board of TTusl88s and authorised for issuts on and were signed on its behalf by.. E A Wilson- Trustee The notes forrn part of these financia statements Pag8 12
Whltehaven Tntst Umll¢d Cash Flow SLqtement for the Year Ended 30 Se tèmber 2025 2025 2024 Notes Cash flows from operaung actlvftles Cash generated from operats'ons 120.193) 64,393> Nel cash used In operatlrvJ actNitEs 120.193 64 393} Cash flows from Investlng actlvltles Purchase of tangible fixed assets Pur¢hase of Investment [0pety Sale of investments Interest received (17,3851 (55,6001 250,000 74,557 15,5421 (43,3411 40,033 Net cash provided byl(use(I In) Invesllng &tsvitse5 Change In cash and cash equlvalents in thg reportlng perlod Cash and cash equlvalents at the bgglnnlng of the reporting period 131.379 (73,243) 396.103 469,346 Ca8h and cash equivalwts at thg end of the reportlng period 527,482 3,103 The notes form part of these ffinanch4 staiements Page 13
Whltehaven Trust Umlted Notes to the Cash Fl(bw Statsrngnt for the Year Ended 30 mber 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERAnNG ACTIVITIES 2025 2024 Net In¢ome for the reportlng perfod (a¥ por the Statement of Flnancial Actlvltlesl Adjustments lor: DepreGialion charges Gain on inv8slments Loss on disposal of fixed assets Interest received Decrease In slock9 D8CTeasellincrease) In debtors Increase in creditors 113.117 226,066 13,770 10,340 (225,898) {204,597) 383 (74.557) (40,033) 49,671 2,852 (58,117) 1,948 Net cash uvd In opetatlons 120,193) ANALYSIS OF CHANGES IN NEf FUNDS At 1.10.24 Cash Ilow At 30.9.25 Net ¢ash Cash at bank 396.103 131379 131.379 Total 131.379 The noles fonn part of these fina[la1 statements Page 14
Whitehaven Trusl Llmited Notes to tho Flnancial Statements for the Year ErKlgd 30 ember 2025 ACCOUNTING POLICIES Basi3 of preparfng the Ilnan¢lal ststgmgnts The financial statements of Ihe charitable wmpany, whh i8 8 Fmjblic benefit entity utKler FRS 102, h8ve been prepared In acc(dan wlh the Charit SORP (FRS 102) 'Accounting and ReptIng by Charitvas: Statement of ReCommeIed PraclicÉ appIable to Charities preparing Ihelr accounts in accordance whh the Financial Reporting S18ndard appli(xble in the UK and Republic of Ireland (FRS 102} (effective 1 January 2019),. Financia Reporting Standard 102 The Financial Roportlng Standard applicable in the UK and Republic of IrdaThJ' and the Companies Act 2006. The fimncl statemonls have been prepared under the historical cost convention, wFth the exception of inv8Stments sch are induéed al mwket value. as modified by the revaluation of certain as5els. Golng Con¢orn Thg trustees assess whether the use of going (X)rKn apworKiate i.e. whether there are any mater14 uncertainties related to events or condilK)ns that may Gasl SJnIfnI doubl the ability of the company lo continue as a going corKern. The trustees make this assessment in resp8cI of a p¥lod of al least one year from the éate of aUthsatIon for sssue of the financial 5tal&m8nts and have concluded that the charity has adequate resources to COnne opwalional existence for the foreseeable Mture and there are no material unGertainti8s atrJ)ul the charfty's abilty to conllnue as a golng Goncem. thus they continue to 0p1 the going concem basis of accountlng in preparlng the financial statements. In¢ome Ail Income is rQgls In the Statement of Finaal Activiti8s once the charY has entiljemenl lo the funds, il is probable that the In(¥)me wll be r1ved aThJ Ihe amount ¢an be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there 18 a legal or ¢onslructivo obligation ¢ommittirvJ the charity to that experKliiure, rt is probab[8 that a transfer of economic beneflts will be required in settlement and the amount of fhe obligation can be measured reliably. ExperKJilure is accounted for on an accruals basis and has been dassified under headings that aggregalo all cost related to the categcrfy. Where costs cannot direcuy attributed to partlculw headings they have been allocated to activities on a baskg Ix)nsiStenl IMth the use of resources. Tangible flxed assets Depreciation is provided at the following annual raies in order lo write off each asset over its estimated useful lrfe. Fixtures and fittings Motor vehicles 30% on reduciro balance All fixed assets are Inltlalty recordd at cost. Tangible red assets costlng more than £1,(XXI are capitalised Induded al C£St Including and incidentsl expenses of ac4uisition. Investment property Investment propety is al rnt nt valuation wilh ¢hang8s in valualh)n recognlsed wilhln the statement of finan¢ial aclivities. Sto¢k8 Stocks are valued at th& lower of cx)st arKI net r8alisat4e value. after makiThJ due alkMa for obsolete and slow moving Items. Taxatlon The charity is exempt from (x)rporation tax on tts charitable a¢lfvlUes. Fund accounting Unrestricted funds (3n be used in aCCordate vthh the charilable objectNes at the dis(¥6tlon of the stees. Page 15 ontinued...
WhItehaV Trust Llmlted Notes to the Flnanclal sL&Mnts - continued for the Year End6d 30 Sg tember 2025 ACCOUNTING POLICIES - contlnued Fund aocounting RestTlCted funds only be used for parthL4r restrlcted purposes wlthln the objects of the chaTIty. Reslriclions arise when spedfied by Ihe dorwx or when fiJIS are raised for particular restricted purposes. Further explanation of the tUTr and Pur[ of lund is irKluded in the note8 to the financial stat8m8nts. Penslon costs and othor post-retlrement beMfrt5 Th& charitable company operdles a defined contriLxJtM)n n51)n scheme. Conmbulions payable to the charitable company's pension scheme are charged to the Statement of Financial ActNilies in the perlod lo which they relate. Investments Inveslments are valued at mid-market value al fhe year*nd. Realised and urKeallsed gain5 l088e9 are credSted or charged to rdevant fund in the Statement of FinarKial Aclivllles. Flnanclal Instrumonts Financkql Inst]umenls are classffi and accixjntd ordIng to the subslance of contractual arrangement, as ellher finawal assets orflnanaal liabilities. DONATIONS AND LEGACIES 2025 2024 Donations Leg8cles 139.944 1.827 174,854 33,S52 141.771 INVESTPJIEpif INCOME 2025 2024 Rents received Deposit account interest 85,973 74,665 160,530 114,698 Page 16 continued...
Whitghaven Tru81 Llmlled Nolès to tha Flnanclal Slatemenls- contlnuod for the Yw Ended 30 tember 2025 INCOME FROM CHARrrABLE AGfivJTIES 2025 2024 A(*ivty Nursing Care SeThices Nurslng ca Serv 120.960 114,203 CHARITABLE ACTivrriES COSTS Support costs {see note 6) Direct Costs Total8 Nursing Care Services GovemarKe costs 341,473 116,823 458.296 125,283 466,756 SUPPORT COSTS Govemance Costs Other Totals Nursing Care Serv Governance costs 76,&44 40,179 8,460 116,823 76.644 48.639 125283 OTHER 2025 2024 Rates & Water Light & Heal Repairs & Maintenance Insurance Depreciation Loss on sale of assels Support Gosts 17,789 6,669 23,771 6,904 13.770 383 125,283 5,220 9,066 13,971 7,109 10,340 102.728 194,569 148,434 NEf INCOMEI(EXPENDrruRE) Net Iniy)mellexpenditure} is stateil after chargiwl{crediting): 2025 2024 Audllors. remuneration Depreciation - owned assets Deficit on disposal of fixed assets 8,46D 13,769 383 8,040 10,340 Key Management Pernnel The total amount of employee benefrts (irKluding em pensKJn (x)ntribulionsl receNed by key management personnel their servKes to the charity was £86.323 (2024: £79,052). Page 17 continued...
Whltehavèn Trust Umited NotOS to the Flnandal SL2t•monts- continued for the ye Ended 30 S8 tgmbgf 2025 TRUSTEES, REMUNERATION AND BENEFrrs Trusts¢s' oxpensas Durlng the year trustees were relmbursed travel and subsislence expenses lolalling £2.320 (2024: £1,693). These all relat to travel to tx)ard meBliThJs and a conferen¢e. Al the year end there wer8 no expereS due to trustees. 10. STAFF COSTS 2025 2024 Wages and salaries Social 5ecurlty co$1$ Other pension costs 289,020 23,555 12,509 226,106 19,455 10,242 325.084 255,803 The average monthly number of employees durlng tho year wa5 as follows.. 2025 2024 Provislon of Ca services- nursing Management ar administration The number of employees whose employee b8n8frts lexduding employer pension c08tsI exceeded £60,000 was: 2D25 2024 £70,001- £80,000 11. COIAPARATIVES FOR THE STATEMEKf OF FINANCIAL ACTivrriES Unrestrlcted Restrict&J fijnd nds Total funds INCOME AND ENDOIYMENTS FROM Donations and legacies 208,406 Charft&)le actlvltl88 Nurslng Care SeNlces 114,203 114,203 Invostment income Total 437.307 437.307 EXPENDITURE ON Charftable actlvltles Nursing Care Servlces GOVernar costs 357,733 8,040 4,360 362,093 8.040 Other 45.706 45,706 Page 18 )ntinU8d...
WThllohaven Trust Umlted Notes to thè FInl01 Statements- contlnued for thè Yaar Ende<l 30 ember 2025 11. COMPARATIVES FOR THE STATEMEwf OF FINANCIAL ACTIVITIES - contlnuad Unrestrict&J Reslricl8d fvnd Is Total funds 411,479 Nel gairts on investrnents 204,598 NET INCOMEIIEXPENDITURE 230,426 (4,360) 226,066 RECONCILIATION OF FUNDS Total funds brought forward 4,487,288 4,360 4.491,648 TOTAL FUNDS CARRIED FORWARD 4 717 714 4,717,714 12. TANGIBLE FIXED ASSErs Fixtures and fittings Motor V8hicl88 Totals COST At 1 October 2024 Additions Disposals 6,284 4,516 28.393 12.869 34,677 17.385 At 30 September 2025 41.262 DEPRECIATION Al 1 Oclober 2024 Charge for year Eliminated on disp)sal 2,106 3,454 21,294 10,315 23,4 13,769 At 30 September 2025 3,352 31.609 28,257 NEf BOOK VALUE At 30 September 2025 4,857 9,653 14,510 At 30 Seplember 2024 4.178 11.277 pJe 19 conlnued...
Whit•haven Trust Umlted Notes to the Financlal Statements. contln forthe Year Endgd 30 Se ember 2025 13. FIXED ASSEf INVESTMENTS Listed Investments MARKET VALUE At 1 October 2024 DisFwIs Revaluations 2,753.396 1250,0001 151.498 AI 30 September 2025 NET BOOK VALUE AI 30 September 2025 2,654,894 At 30 September 2024 2 753,396 Total Funds Total FurKI8 202S 2024 Listed Investments UK Quoted fixed interest securities UK Quoted Shares Non-UK Fixed interest securibos Non-UK Quoted Shares 358.770 394.178 279.736 276.536 424.836 384.381 1.102.512 2.406,527 2,188,265 Other Investments Other UK Investments UK Cash held as part (Jf Porlfol 237.049 11,318 477.795 248.367 565,131 2,753.396 The l)ook cost of investments held al 30 September 2025 is £2,170.51212024.'£2.390.339). The inve81menls are managed by a wofessh)nal investment manager and rewesenl moni8s invested directly on a recognlsed UK stock exchange. 14. INVESTMENT PROPERTY FAIR VALUE At 1 O¢lober 2024 Addiilons Revaluallon 1,520,000 55,600 At 30 September 2025 1,850,000 NET BOOK VALUE At 30 September 2025 1,660,0 At 30 September 2024 1520 000 Page 20 continued...
Whlt¢hav¢n TrLBt Llmitod Not¢s lo the Flnanclal Statèments - ¢ontlnu¢d for the Year Ended 30 Se mb¢r 2025 INVESTMETrif PROPERTY - ¢ontinu¢d Fair value at 30 September 2025 is retyesented by: Valuation in 2025 Valuation in 2024 Valuation in 2023 Valuation in 2022 130,000 {20.395) {79,605) 1.620 000 1650 1X)o The investment property (x)nsl$ts of 28 and 30 Northumbria DrNe. 28 Northumbri2 Drive was rovalued to £1,080,000 durlng the year follwlng an open market value carrle(l OLrt by Wlnfields Chariered Surveyors & Valuers. 30 Northumiffta Drtve Is l*ld at a valualion Ixrrled out by KPA Property. 15. STOCKS 2025 2024 stks 833 1,302 16. DEBTORS: AMOUNTS FALUNG DUE wmiiN ONE YEAR 2025 2024 Trade debtors Other debtors Prepaymgnts and ac(nJed In(&me 10.091 3.750 8.060 23,417 48,155 21,901 17. CREDITORS: Amourirs FALLING DUE wrrHIN ONE YEAR 2025 2024 Soclal securlty aThJ other taxes Other creditors 7,925 30,864 5,580 30,356 35,936 18. MOVEMENT IN FUNDS Net movement in fvnds Tr8nsfeTS betsveerF funds At 1.10.24 At 30.9.25 Unrestrlctod funds General fund 4.717.714 103.117 10,000 4,830,831 Re8trfcted funds The Westmlnsier Fund 10.(KJO {10.000> TOTAL FUNDS 4,717,714 113,117 4,830,831 Page 21 ¢ontinued...
Whitehaven Trust Llmi¢ Notes to the Financlal Statements - ¢ontinued for Ihe Year Ended 30 S¢ tembor 2025 18. MOVEMEKf IN FUNDS - contlnued Nel movement in funds, iluded in the above are as flow5. IncomirvJ Resources resources eXFed Galn8 and losses Movement in funds Unrgstrlcted funds General fund 408,747 (531.528) 225,898 103.117 Rostricted funds The Wesbninstsr Fund 14.514 (4.514) 10,000 TOTAL FUNDS 423 261 536.042) 225.898 113,117 Comparativos for movement In funds Net movement in funds At 1.10.23 30.9.24 Unrestricted funds General fund 4,487.288 230,426 4,717,714 Restricted funds The W85tminsl8r Fund [4,]1 TOTAL FUNDS 4.491.648 226,066 4,717.714 comparatVe net movement In funds. included in the atove as follows.. Incoming Reswrce5 Gains and Movement in fund$ Unrestrlcted funds General fund 437,307 {411,479) 204,598 230.426 Restrlcted funds The Westminster Fund {4,360) (4,360) TOTAL FUNDS 437,307 415.839) 204,598 226.066 Trnn8fer8 between funds The transfer of funds during the year represents regtricted futvjs donated to pay for fixed assets that had prevlousty been purchased. As such, the restriction i8 deemed lo be satisfied on purchase of the assels and tran9ferred ac{xdigty to unrestricted funds. Page 22 contlnued...
itohaven Trust Limlted Notes to the FinwKlal Slatoments- contlnued for th• Year Endgd 30 ember 2025 19. RELATED PARTY DISCLOSURES There were no related transactK)rk8 in th8 year12024.' Nil). 20. COMPANY LIMITED BY GUARANTEE The guarantee of thè 25 members of the company at 30 September 2025 was 8 mminal amount of £1 each. Page 23