Charily Registration Number.. 220680 Homes and Communities Agency Re8l51ratioD Number.. A4080 The George Newton Trust Annual Report and Financial Statements for tlie Year Ended 31 Ociob¢r 2025
The George Newton Trusl Contents (continued) Bo&rd Report Ito2 Independeni Audittsrs, Report 3105 Stat¢ment of Comprchensive In¢ome Balance Sheet Cash Flow Statement Stalement of Change5 in Resetrves Not¢s to Ihtt Financial Svdtements IOto14
The George Newton Trust Board Report The trustc¢s prcsent the annual report tog¢th¢r with the financial statemellt5 of the ¢harity for the year ended 31 Octobcr 2025. Strueture* goverll4Dee And mAnagement Trustees aTe appoinl¢d from within the local community. All new TNstees are Provid with Charsty CorRmi55ion publi¢alion CL3 'Th¢ Essential Tn]stee' what yov need io know, and CCIO The Hallinarks of an Effective ChariW. Trustees ar¢ a150 given an inlroduLtion by existing tru5te¢5 lo the specific tules relating to social housing along with an overview of Ihe charity's operations. The TNstecs remain committed to their aim of provtding & high standard of accommodation at an affordable weekly contribulion in ord¢r to compete with oth¢r social housing providers. Trllstee5 and officer5 The tmstees and officers serving dwing the year and since the year eiid were as follows.. Board.. K Psrkei A J Bi'adley D Arrow5mith F Hanson A Cathey R GYos$chmidt J Anderton Senior maenlt / Leadership Tearn.. C Stratton The Twst¢e5 of the Charity usually meet 8t least twice a year. The Charity is the owner of ¢tgbt bungalows at Newtot) Clos¢, Silsdeti. Objectlves. activitlex and perform#te The Trnst is for the 'needy' of Silsden. and all trust5 need to have a local knowlcdge of tht area. When a vacancy occurs for a Trustee, existing Ttwste¢s are asked for suitable suggestions, and these are discussedldi$cardedlaccepted at Trustee m¢¢ting, then an approach i5 m&de to the person(s). We have had 3 meetithg.% thi5 year. Two were in relaiion to ¢ompleting the compliant handling Code 8nnual submission forni and nMberS h¢<h ¢heck re alm6houi•es. The Chairperson and TrnsteeB hav¢ remained the Same. The TTUStees decided to incre&se Ibc maintenanc¢ Charge fhis ye8r. It has been a very quiet year this year with again just general repairs being cari'ied out at the blln8alows. Alihough on¢ of the bung8lows {no 12), did sustain sligh¢ damage to the roof during stom Amy when a bronch from a tree in the gardcn behind fell on the roof. We had a Va¢ancy this year but this was filled very quickly. Me¢ling5 have rQmMenCed al thc home of Mrs. Christine Stralton. Page I
The George Newton Trust Board Report (contlnued) Pubilc b¢netit rhe Trustees pay due r¢gards to the Charity Commi55Lon guidance on Public Benefit and believe that the provision of social housing within the local community confoms with this guidan¢¢. Vinanelal revlcw Th¢ Trust has sp¢nl £4,311 on rEpAirs this year. Thc bank brtlAnce ha8 dcGr¢&sed by £6,$40 but investment amount has in¢re#s¢d by £29,925, and the TTUStccs fecl that th¢ Trust is in a good p05iliOll financially. The Trustees continue to build up the charity'5 reSe¢S as and when possible and uses the routine maintenance for rcnewal8 aDd r¢gular maintcnance. The surplu5 for rhe year was £14,375 {2024.. £13,215) and the total reseTves of the Charity at 31 October 2025 were £275,081 {2024. £260,706). StAtemtnt of Bo&rd$ Responslbllltles Tlie Board is Tespoiisible for preparing the Report and the finaneial statemeDts in accoTdaDce with the applicable law and regulations. The Co-operativ¢ and Community Benefit Societies A¢¢ 2014 and registered social housing legislation require ihe Board to prepare financial statements for each financial year which give a true and foir view of th¢ stale of affairs of the ass(>cialion and of ils income and cxpenditure for that period. In preparing Ihcse financial statemenls, the BoRrd is required 10.. select suitabl¢ accounling policies at then apply them consistently; make judg¢ment8 and estimales thai arv r¢asonable 2nd pnident. State whether applicable accounting standards have been followed, subject to any Jnateiial departures disclosed and explained th¥ financial statements. artd prepare th¢ finaiicial sIatellntS on the 80ing ¢oncern basis ui)less it is inappropriute to presum¢ th4t the association will continue in busirtess. The Board is responsible for keepittg proper accounting e0rd$ that disc105e with r¢asonable ac¢ura¢y at any time the fmanLial p05jtion of the association and enabl¢ it to ensure that the financial statements Comply with Co-op¢rative and Cotnmunity B¢n¢fit Societies Act 2014 the Housing aiid Regeneralion Act 2008 3nd the Accounting Direction for private registered providers of social housing in En8land 2022. It has general responsibility for toking reasonable sleps to safeguard the ass¢15 of the association and io prevent ond detect fraud ond other irregularities. The Board is responsible for the rnaintenance and integrity of the corporate and flnancial information includcd on the association's website. Le8151aiion in the United Kingdom governing the preparation and dissemination of financial sratements tnay diff¢i' from l¢gisl#tiots in other juri8dictiong. The board are responsible for the maintenance and integrity of the Corporatc at)d financial information includEd on the ¢haLltable company's web51te. Legislation governittg the preparation and dissemination of financial stalements may differ from legislation in viher juri5diclions. The an])ual repoil was approved by the board of the a&$oeiation on 17 March 2026 aml signed on its behalf by.. J Anderlon Trth%t¢¢ Page 2
The George Neivton Trust Independent Auditor's Report to the Members of The George Newton Trust Opinion We have audhted the financial slatements of The George Newton Trust Ithe'associaiion,) for the year ended 31 October 2025, which comprise *hc Statcm¢nt of Comprehensive Income, Balance Sheel, and Noles to Ihe Financial Statcments, includiog a summary of signifjcant #ccounting poli¢i¢s. The finanLial r¢porting framework that has bcen applied it) thcir preparatioth is applicable law and United Kiiigdoin Accounting Standards, in¢ludinB Financial Reporting Standard 102 The Findncial Reporting Standord &ppli¢4Lil¢ in the UK Republic of 5Y¢land (Uthited Kingdom G¢nerally A¢c¢pt¢d A¢¢ouDtsng PraLtiLel. In our opinion th¢ financial 5tatements'. give È truc and fair VIEW of the slate ofthe associati0o'$ a(fairs a5 at 31 October 2025 and of its incoming resources and applicaiion of resouices, including its in¢ome and expenditure, for the year then ended. have been properly prepared in accordance with United Kitjgdom Generally Aceepled Acxounting PTa¢tice' and have been prepared in accordan¢¢ with the requircments of the Charities Act 2011, th¢ Housing and R¢generation Act 2008 and the Accounting Direction for private regystered providers of soci81 housing in England 2019. BA&is for oplnioD We ¢onductcd our audit ih accordance with Internatio2Jal Standards on Audittng (UK) (ISA5 IUKI) and applicable law. Our irsponsibilÈties urtder those standards are further described in the auditor rc5ponsibilities foT tbe audit of the financial stai¢mentS Section of our iEport. We are indepcndcnt of the association in aecordance with the ethical requirements that are relevani io our audit of the financial statements in the UK, including the FRC'S Ethi¢al Standard, and we have fulfilled Qui oth¢i' ethical responsibilities in occordatice with these requirements. We believe that ili¢ audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion. Coneluslons Tel#tlAg to golng coneern In auditing ihe finanGial slalemen15. we have concluded that the board's ofthe going wwerD basis of a¢counlin8 111 th¢ preparation of the financial statemehts is approprsate. Based on the work w¢ have perfomied, we hav¥ noi identified 8ny material uncertoinii¢s relating ¢0 ev¢nt$ or condiiions that, individually or ColltivelY, Inay ¢ast Significant doubt on the association's ability lo continue as a going eoneern for a period of al least twelve months fLDm wh¢n the oiiginal flnanctal ststements w¢re uuthorised for issue. OUT responsibilities knd ihe respotisibilities of the board with respect to going concern are described in the relevant sections of thi.$ report. Other ioformatio The board is re5ponsibl¢ for Ihe other illfornjation. The other infom]ation comprises the iDfotrnalion included in the annual i'eport, other than th¢ flnancial ststemelhts and our auditor's report thereon. Our opinion OTb the fin8n¢ial statements does not cover the other inforn)8tion and, except to the extent othenvise explicitly stated in our report, we do not express 8ny fom1 of as8llrancc Conclusion thereon. In connection with our audit of the financial statem¢nis, OUT respoTiSibiliiy is to read the other information and, in doing so, conbider whether the othei. snfomiation is materially inconsistent with the financial statements or oui. knowledge obtained in th¢ audit or otherwise dppeirs to be materially misstated. If we identify surh rnalerial inconsisten¢i¢s or appar¢Jit niater5al missthtcmcnls, we are requir¢d io deiemine wlieiher 1hei'e Is a material misslatcment in the financial statements or a inateri81 misstatement of the oih¢r information. If, based on thc work wc havc perfomied, wc conclude Ihai iher¢ is a material I#S$Irement of this oth¢r infom)alion. we are required io irport thAt facl. We have nothitL8 to report in this reg8rd. Page 3
The George Newton Trust Independent Audltor's Report to the Member5 of The George Newton Trust (eontinued) Mhtters on wklch we ar¢ required to report by ex¢eptlort We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) ReguSations 2008 require us to report Éo you if, in our opinion.. the infom)ation givcn in the flnancial swtements is inconsistent in any material respect with the board report., or suffifyierti accounting records have tLOt becn kept: or thb financial stat¢mcnts are not in awement with Ihe accounting records. or we have noi re¢eived all the infonnatitsn and explanations we Tequire for our audit. In addilion, we have nothing to T¢POrt in respect of ihe following matter where the Housing and Regeneration Act 2008 requires us to report lo you if. in our opinion: batisfaetory system of control over transactions has not been maintained. Re5ponslbllltie5 of board As explained more fully IR the Statement of Responsibilities (set out on page 2), the board m¢mber5 (who ar¢ also the trustees of th¢ associatlOD foi. the PUTPOSCS of chaiity law) &Te iespon8iblc for the preparation of the financial slatements and foi" being satj5fJed that thcy give a tn]e and fasr view. ond for Such inlemal eontrol as th¢ board detemiine is necessary to cnablc the pr¢par8tion of financial siatements Éhat a free from moterial misststemcnl, whether due to fiBud or error. In preparing tlie finatlcial 51at¢ments, the board is responsibl¢ for aSS1ng the BS50ciation's ability to continue as a going ¢onceim, disclosing, as applicable, mètters related to going concem and usinx the going concern basis of actounting unle55 Ihc board eith¢r intend to liquidat¢ the association or to c¢ase operations, or have no realistic alt¢rnative but to do so. Audltor Re5POllslbllltles for the audlt of the finAnci81 statements Our objectiv¢s arc t(} obtain reasonabl¢ assurance about wlicther th¢ financial slat¢m¢nts as a whole are free from materi81 missiatern¢nt. whether due to fraud or eTror, and to issue an auditor's report that includes ow opinion. Reasonable assurallce i5 a high level of assurance, but 1$ not a guarontee that an audit conducted io accordance with ISAS (UK) will always detect a material misststement when it exists. Misstat¢ment5 can oris¢ from fraud or ¢rror and are considered material if, indivsdually or in the aggregate, tliey could reasonably be expectcd to intlu¢n¢e the economic decisions of users taken on the basi8 of these financial statements. Jrregularities, including fraud, ar¢ inslanGes of non-compliancc with laws and rcgulalions. W¢ desig)n prw¢dures in line with our responsibilitie5, Outliiied above, to detect material misstaiements in respeci of irregularsties, including ftaud. The exient to whsch our piocedures are capable of deteeting irreg4Jlaritie& including fraud is detailed below.. In planning and de4igning our 8udit tests, w¢ idenrify and asse55 the risks of material misstratement wtthin thc flnancial statements, whethei. due to fraud or error. Our asses5ttient of Ihese risks iii¢lud¢s consideration of the nature of the industy sector, th¢ ¥ontrol environment aThd the bu5ines¥ perfornJanc£ al<>ng with thc r&%ulis of our enquiries of m8nagem¢nt, abgut their own i(kntifs¢2lioiJ and assessment of the risks of i]regularili¢8. We are also requiTed to perforn) specifie proced& to respond to tlie risk of management override. Following Ihis asscssmetkt we considered the opportunities and inc¢ntives that may exist withkn the entity for fraud Dnd identifjed tlie greatest pot¢ntial for fraud in evaluating the tangible a5sels. We also obtained an understanding of IhE legal alld regulatory frameworks that the entity operates in, ty)ugh discussions wilh trustee5 and other manogeinent. aTKi from our comm¢wial knowledge and experien¢Y of the sector itt which the entity operates, lo eiiablc us to ideDtsfy the key laws and regulatiot]s applicable to the entity. W¢ foc115ed on specific laws and regulalion5 w1i5ch w¢ cotisidered may have a direct mateTial effect on the fi]h2ncial statements or the operations of ihe entity. in¢ludit]g the Houssng and R¢8eneraiion Act 2008, taxation le8i%lation, data proteelion, anti-bi'ibery, environmental and I11 Éafety le8i¥latiott. Pagc 4
The George Newton Trust Independent Audltor'8 Report to the Members of The George Newton Trust (continued) We then performcd audit pro¢¢dur¢s sfi¢r Lonsideratiotj of the above ri5k8 which in¢lud¢d the following.. ¢onfinnation of the existence of the propertie5 held. cvaluating the appropriateness ond consistency of the depre¢iaiion and ainortisation policies applied. cnquiring of manag¢menl Loncemit)g actual and potenltal litigation and ¢laims' p¢if01lirt analylicBI procedures to sdentify any unu60al or unexpected relthiionships tknt may imdicate ri8k8 of Inateri&l misstatemcrtt due to fraud; reviewing correspond¢n¢e wilh HMRC, and the entity's legal advisors: enquiring of management conccming actllal and polenttal litigation and ¢laims- reading iiiinuies of meetings of ihtsse chaised with govemance: and in addr¢ssing the risk of fraud through management override of controls, testing the appropriateness of joumal cntrie5 and oih¢r adjustments. assessing whether the judgements. made in making arcounling estintstes are indicative of a potential bias., and evaluaiing the busine5$ raiionale of any si8nifi¢anl irai)saction5 that are unusual or ouiside the normal course of business. All engagement team members were infornied of the relevant laws and regulalions and >tentIal fraud risks 8t the planning stagc and r¢rninded to remain alat lo any llldicatlollb of fraud or non-compltance with laws and regulations Ihroughout the audit. The cngagement partllET ensured that the engagement team collectively had ihe appropriat¢ competence, capabilitses and skills to identify such items. Th¢re inhereJ)t limitations in ow sudil procedures described above. The mole rernovcd that laws and r¢8ulaiions #re rmm finan¢ial transactions, the less likely it is th#t we would b¢come aw8re of non-cotnplianLC. Auditing slandardt* also limit the audit procedur¢5 requir¢d to identify non-compliance with laws and iegulations to ertquiry of the trnstee% and tsther rnanagemet)i and the inspection of regulutory and legal cotrespondence, if any. Material [nisslaCnts that arise due to fraud Lan be harder to dete¢t than those that arise from error as they Tnay involve deliberate ¢oncealtnent or collusion. A fiher d¢s¢ription of our r¢$ponsibilities is available on the Financial ReportlIl8 Council's website at.. www.frc.org.uklaudilorsresponsibilities. This description forrn8 Part of our auditOT'S report. Use of reporl This report is made solely to the association board, fts a body, an accordance with Part 4 of the Charities {Accounts hnd Reports) Rrgulations 2008 and section 137 of th¢ Housing and R¢g¢neration Act 2008. Our audit work has been undertaken so that we might state to the bo&rd Ihose matl¢rs we are required io state ID them in an auditors, report and for no other purpose. To the fullest cxtent permitted by law, we do not accept or assume responsibility to anyone other than th¢ association and its board as a body, for our audit work. for this report, or for the opinions we have formed. Wat50n Buckle Limitcd Statutory Auditor & Chart¢red Accountants Bradford 17 MaT¢h 2026 Pa8e 5
The George Newton Trust Statement of Comprehenslve Ineome for the Year Ended 31 October 2025 (Ineluding Income and Expenditure Aeeount) 2025 2024 Note Turnover 29,334 28,524 Administr¥live expenditure 22,989 18,893 OperAting surplus Income from fjxed asset investments Interest receivable and similar incomc Movements in fair value of financial instrnments 6,345 1,678 705 5,647 9.631 1.276 701 1,607 Surplus for the year 14.375 13,215 Total ¢omprehethslve Income for the yc•r 14,J75 13,215 All ofthe registered social housing provider's activities derive froin conli]IlLiII8 operations during the above two period5. Thc note5 on pages 10 to 14 fonn an integral pari of these financial slalements. Page 6
The George Newton Trust Balance Sheet as at 31 October 2025 2025 21b24 ]Yote Flxed asset5 Tangible a55ets Invc%tment8 246,384 55,920 255,277 25,995 281,272 302,304 Current assets Dcbtors Cash at bank and in hand 791 766 81,184 75,410 81,950 Creditors: Amounts falllng due Ivlthin oRe year 10 6,453) F4et current assets 66.439 75,497 TDtal assets le$5 eurrent Ilabllltles 368,743 356,769 Credltors: Amounts falling due after more tham •n¢ year 93,662) 96,063 Net Assets 275,081 260 706 Reserves Income and exp¢nditllre reserve Unreslricted revaluation r¢5erve 265,459 9,622 256,731 3,975 Totul reserves 275,081 260,706 The fin1claI slal¢ments w approved by the boArd 8uthorised for issue on 17 March 2026 and signed on their behalf by.. Lu-fa(Q¢ K Parker Trustee Anderton TrusÈ¢e The notes Dn pJges 10 to 14 forni an integral part of these fingn¢sal slalemenls. Page 7
The George Newton Trust Cash Flow Statement for the Year Ended 31 October 2025 RecoAe1114tlon of net movement in funds to net CRsh flow from operatlng actlvities 2025 2024 Net income Investment income Deprc¢iatson {Profit) Iloss on revaluallOlI of fjxed asset investments IlnciEase}/de¢reas¢ in debtors Incrcasel{d¢crcasol in crediÉors 14,375 (2,383) 8,893 15.647) 125) 13.215 {1,977} 8,893 11,607) 82 3,005) Nei cash inflow 15.330 15.601 Cash noiv slAtemetht 2025 2024 Net cash inflow from operating activities Returns Investments serviciD¥ of flnance lrtterest receivcd 15,330 15.601 2.383 1,977 Capltal expendlture aiid fln#nclal Investment Tronsfers from incornc 24,278 1,276 (Decre85eyinerease In In the year Reeon¢lllAdon of net cash flow t• movement In n¢t fthd8 (DreaSe)11Cr¢&S¢ in cash Net fun(ts ai l Novemb¢r 2024 {6,565 16.302 (6,S65) 81,184 16,302 64,882 Nel fijnds at 31 Oclober 2025 74,619 81,184 All of tli¢ $11 flows d¢rived fts)lli Continuing oprrnttoiis during tli¢ above two periods. The notes on pages 10 to 14 foiin ai) ijtegrnl part Of these financial Ytaiem1ls. Page 8
Th¢ George Newton Trust Statement of Changes in Reserves as at 31 October 2025 Income nThd expenditure reserve Revalu&(lo reserve Total At l Noyember 2024 Surplus foy the year Revaluation of investments 256,731 8,728 3.975 260,706 8,728 5,647 5,647 5,647 9,622 Total cornprthenslve income At JI Octobey 2025 8,728 265.459 14,375 275.081 The noles on page5 10 to 14 fomi an inte7 part of these fJttat]cial statements. Page 9
The Ceorge Newton Trust Notes to the Financial Statements for the Year Ended 31 October 2025 l A¢¢ountiNg pollcles General iThformatlon The charity is a registered social housing provider, r¢gi5tered in England and Wales Regisler¢d charily number.. 220680 Homes and Communities AgeDcy Registration Number.. A4080 Basls of prepAratlott #nd st&tement of compltance The financial slatemenis have beei) prepared in accordance with applicable accounting standard5 including Financtal Reporting Standard 102, the Statement of Recommended Practice for Social Housing Providers 2018, aDd with ihe Accountin&> Direclion for private regislEred provider5 of 50cial housing in England 2022. The fiiiancial statements are also prepared under ihe requiremcnts of the Housing and Regeneration Act 2008. The financial statemcnls have been prepared on a going ¢on¢ern basis under the historical cost convention, modified to include ccrtain itBms at faiT valu¢. The registered social housing provider constilutes a public benefit entity as defined by FRSIO2. The ¢harity's functional and presentation Currency 1$ pounds sterling. The significant awounting policies gpplied in the prepardlion of these fjnancial statenntS are set out below. These poli¢i¢s have been consist¢ntly applied to all years present¢d unless olhetwise $lat¢d. Colng ¢oneertt The board consider that there are no material uncertaintj¢$ gbout the ay%ociation's ability to Continue a5 4 Eoing concern. Turnover Turnover r¢present5 rental income receivable in the yeAr t)et of svICe charge losses from voids, and revenue grant5 froxn government (local authorities). The registered social housin8 provider carrie5 the financsal rssk on property managed by agents, ther¢fore all the income and expendi¢we ai'ising from the property is included in the stHtern¢nt of comprehensive income. Soclal Houslng Grant The Social Housing Grant ISHGI was ulilised to reduce the capital costs of housing properties. The SHG is Tecognised in incoille on a 5ysl¢maric basis ovcr Ib¢ expecied uscful economib life of the properties. Gov¢rDment grants Government grants are rccognised based on lh¢ accrual model and are ine88UTed at the fair value of the asset rec¢ived or receivablc. Grants are ¢la5silied as relattl18 eiih¢r to revenue or to a*$et8. Cjrants relating lo revenue are rccognised in income over the period in whi¢h the related costs arc reeogni8ed. Gi?nts relating to assets air recognised ovei. the expected useful lile of lh¢ a&%el. Where part of a grant r¢lating to ttn asset is d¢ferred. il is re¢ugnised as deferred incomE. Page 10
The George Neiv¢on Trust Notes to the Financial Stlltemellts for the Year Ended 31 October 2025 (continued) Tanglble flxed assets Tangible fixed assets (including so¢io1 housing properties) are stated at cost or deemed cost It accumulated depTe¢iation and accumulated impaimient losses. Cost includes costs diTC¢tly attributablc to making th¢ a88Ct capable of operating as iniend¢d sucb as the cost of acquiring land and buildings, devclopm¢nt$ costs, intcrest Lharges on loans during the development period and eXpendtUre on improvcments. Expenditurc on improvemeiils will only be capilalis¢d when it resulis incrcmental fure bct)efit5 Yuch &8 incira5ing r¢DtsI income, maintenance o03ts or resulting in a significant extension of the useful cconomiL life of ihe property. Depreciation is provided on tangible fjxcd ass¢ts so as to Wtite off th¢ cost or valuation, less any estimated residual value. over iheir expected Us¢[ economic life as follows- Asset clos$ D¢preet&tlon method And rAte Roofs 50 ycars Doors and windows 30 years Kitchen$ 20 yeaF5 Bathroom 25 years Boiler5 15 yeaiB Elrctrical and heatirtg installations 25 years Major compollenls of housing propcrties hove be¢ll aLcounied for and depreciated separately from the connected housing property, over their expecteit useful cconomi¢ lives. Tlie Costs of replacsn8 Iliese cornponent$ are capilali8ed in full. The costs of partially replacing or repairing these ¢ompon¢nts are charged lo Ihe comprehensive income. Investments ITLV¢btments are Tecognised initially at fair v2lue which hs nornially the trbnsaclion price excludin8 transaction costs. Subsequently, th¢y are mcasured at fair value through the statem¢Dt of LOmPT¢h¢nsive incolne if th¢ share5 8TC publicly i¥aded or their fair volue can oth¢rwise be me#sured reliably. Other investments are measured at C¢)5t le$s imp2imiet]t. Governance ¢o&ts Governance Costs include the audit of the financial statemenls. T*x9tion The r¢gi5tered social housing provider is consid¢red pas$ the tests Set out it) Paragraph I Schedule 6 of the Finance Aci 2010 and therefore it meets ihe definition of a charitable company for VK coworation tax puTposEs. Accordhngly. the Charity is Potentially exempt from ta%alion in K5pect of income or capital g8ins reccived within categories covered by Chapter 3 Part I l of the Corporalioii Tax Act 2010 or Sectitsii 256 ofthe T&xation of Chargeable Gains Act 1992, 10 the extent thal swh sncome or gY¢ill6 V&re applied 6xclu8ively to charitable purp08t&. Debtors Debtors are recogniscd iRilially when they bccoillr due al Ihe transarlion price, l¢ss provision for imPdiTment. A provision foi. the imp8im)eni of debtors is ¢s¢8blished ivhen there is objective evidence that the associalioii will not be able io collect all amounts duE accordin8 to the oiiginal temis of the receivables. Cash And eash cqulvalents Cash and cash equivalents compri%e cash on hand and call d¢posits, and other $hort-terni highly liquid investments that are r¢8dily eonveTlible to a known amount of ¢Jsh and are 5ubje¢l lo an insignificant risk of change in value. Trade creditors Cl'editors are obligations to pay for good5 and services that have been acquired by Ilie as50ciaiion. Creditor5 are reco8lJ15ed al the trdnsaction price. Page 11
The Georg¢ Newton Trust Notes to the Financial Ststements for the Year Ended 31 October 2025 (continued) FiDAn£TrAI Knstrnments The charity only has financial assets and fillancial liabilities of a kiTrd that qualify as basic financial instruments. Basic rinancial instruments arc initially recognised at transaction value and subsequently measured at th¢ir $¢ltlement value. 2 Soclal houslng turnover tosts 2025 2024 Turnover Renls re¢eivAble 26,933 26,12J Amortised government grants Turnover from soc181 hollslthg lettlngs 29,334 28,524 Adrnlnlstratlve expenditure Management Service chaiEe costs Routine maiiii¢nance Depreciation of housiÉJg properties Other costs (6,325) (2,7731 {4,3111 {8,8931 (6871 15.806) 12,469) (1,344) 18,893) 381 22,989) 18.893) Operatlng surplvs on soclal houslng lettlng5 Void 108ses 6,345 9,631 260 3 Governance enits Total 2025 Total 2024 External auditors r¢muE]&Blion' The audit of the charity's annual accounts 1,750 1,650 4 AccommodAtlon owned gnd In management Number of unlts asat Nllmber of unit5 sat l November 2024 31 Octobei. 2025 Housing aceommodation S Svrpllls on ordlOry aetlvltles 1$ stxted after chArgirtgl(credltlng): 2025 2024 D¢prcciation of housing properties for letting Aiiiortibation of govemiiient grants 8.893 2.401) 8,893 12.401) Page 12
The George Newton Trust Notes to the Finavclal Statements for the Year Ended 31 October 2025 (continued) 6 Tanglble fixed a8set$ Houslng propertles for lettlnk TotAI Cost At l November 2024 327,902 327.902 At 31 October 2025 327,902 327.902 Depreclatlon At l November 2024 Charge for the year 72,625 8,893 72,625 8,893 At 31 October 2025 81,558 81,518 Net book value Ai 31 October 2025 246,384 246,384 At 31 October 2024 255,277 255,277 7 Board and key m8nRgement personnel remunerAtton and expenses No board or key manag¢ment personnel re¢eiv¢d nor waived any remuneraiion or reimhllrsed expenses during the current or previous year. 8 Fixed asset Investmen1$ 2025 2024 Other inv¢stmenl8 55,920 25,995 Other investments Listed Investments TotAI Valuthtlon At I NoveTnber 2024 R¢valuation Additions 25,995 5,647 24,278 25,995 5,647 24,278 At 31 October 2025 55,920 55,920 C*rrylng amount At 31 October 2025 55,920 55,920 At 31 Octobei. 2024 25,995 25.995 The fair value of listed ittvestments is deterniined by I'efereThce to the quoted price for identical assets in an aetive maiket at the balall sheet date. Histurical costs of inveslm¢nts are £46,29812024.. £22,020). Page 13
The George Newton Trust Notes to the Financial Statements for the Year Ended 31 October 2025 (contlnued) 9 Debtor5 2025 2024 Piepaymenls 791 766 10 Credltors: Amomnts f*lllng due wffithln one year 2025 2024 Tiade Creditors WMC paid in advance Grants Accruals 2.294 2,176 2,401 2,100 2,072 2.401 8,971 6,453 I I Credltors: amonts fallffing due after one year 21b25 2014 Grants 93,662 Tht granis are r¢payable if ihe propcrtles are sold. Social Hovsing Grant lotallin¥ £120,073 has b¢¢n Tec¢ived. Thi5 will be repatd if the propeilies ar¢ sold. The Social Housing Grant is being iycognised in income on a sysiematil basis over th¢ expected useful life of the slTuclur¢ 150 yeRr81. 12 Reserves
) Income expendlture reserve
The income and expendithre reseTve represents the cumulative sU]uS and deficiis net of other odjusiments. b) R¢vtsluAtioii reserve The revaluation Teserye represenis the CLunulat¢ effect ofrevaluations of the fixed assels inveslin¢nls. 13 Rdated party trgnsA¢*ioDs During the year the a0Clation made the following related parfy transactions: R Gro$$¢hmldt (Trnstecl .R CJro%%climidt wos paid £44n12024 - £4201 for window cleaning servi¢es during tile year. At the balance sheet dale the amount due to R Grosschniidt was £4012024- £Nil). Page 14