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2025-09-30-accounts

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

Registered number: 00762159 Charity number: 229545

SIDLIFE LIMITED

(A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 11
Independent Auditors' Report on the Financial Statements 12 - 15
Statement of Financial Activities 16
Balance Sheet 17
Statement of Cash Flows 18
Notes to the Financial Statements 19 - 35

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2025

Trustees Mr A Darrant
Mr R Seaver (resigned 1 December 2025)
Mrs V Fursey, Chairman
Mrs J Mitchell
Mrs S Phillips
Dr H Nelson
Company registered
number
00762159
Charity registered
number
229545
Registered office
Cotmaton House
Cotmaton Road
Sidmouth
Devon
EX10 8QT
Company secretary
Mrs S Billinghurst
Independent auditors
Bishop Fleming Audit Limited
Chartered Accountants
Statutory Auditors
Brook House
Winslade Park
Manor Drive
Clyst St Mary
Exeter
EX5 1GD
Bankers
CAF Bank Ltd
PO Box 289
West Malling
Kent
ME19 4TA

Page 1

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025

The Trustees present their annual report together with the audited financial statements of the Charity for the year from 1 October 2024 to 30 September 2025. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Objectives and activities

a. Policies and objectives

The principal objectives and activity of the Charity, as determined by its Memorandum and Articles of Association, continues to be the provision of accommodation, supporting independence and companionship for elderly people in accordance with the aims and principles of SidLife Limited. This activity falls wholly within Hostel Housing activities as defined in the Housing and Regeneration Act 2008.

In achieving its objectives, the Charity aims to create a surplus of income over expenditure, sufficient to maintain its properties and service levels to a high standard and to comply fully with all legislative requirements. The Charity’s ongoing aim is to ensure that these standards are maintained and improved wherever possible and that the Charity continues to adhere to all current legislation governing the services it provides.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Strategies for achieving objectives

The principal objective of SidLife Limited is to continue providing independent living for older people. To achieve this, the Charity strives to maintain a surplus of income over expenditure sufficient to sustain high standards across its properties and services.

As at 30 September 2025, the Charity operated 32 units across two houses—Cotmaton House and Culver House. The Charity also owned two flats (9 and 10 Bedford Flats on Station Road), which were separated from Abbeyfield Court when that property was sold in July 2024.

The sale of Abbeyfield Court and the completion of the Bedford flats disposals provide the Charity with additional financial resilience and flexibility to invest in its long-term future.

Page 2

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Objectives and activities (continued)

c. Activities undertaken to achieve objectives

The Trustees, through the COO, closely monitor operational costs against budget to ensure that income exceeds expenditure, with the goal of delivering a year-end trading surplus. Throughout the year, and as part of an annual cycle, the Charity undertakes a full review of all service contracts to ensure best practice, value for money, and operational efficiency. During the financial year, a comprehensive RICS condition report was completed on both Cotmaton House and Culver House. This report supports the development of a robust Repairs and Maintenance (R&M) plan to ensure that the Charity’s properties continue to be maintained to the highest standards.

Summary of key activities undertaken during the year include:

d. Main activities undertaken to further the Charity's purposes for the public benefit

It is the objective of the trustees to maximise the public benefit provided by the Charity, in providing high quality support, having regard to the extent of the Charity’s income and reserves, the cost of facilities and the ability of residents to make payments from their own resources.

The Charity continues to invest financial resources, as appropriate, to modernise and upgrade the Charity's housing stock, to ensure a high standard of accommodation for residents at an affordable price.

The trustees encourage the building and nurturing of links within the local community to strengthen the engagement of each of our homes with the wider local community and make our homes open to all. We continue to work with local businesses and support networks, with similar ethos and values to grow and benefit from the Charities main purpose- alleviating loneliness in older people.

The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2022 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Page 3

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Strategic report

Achievements and performance

a. Main achievements of the Charity

The results for the year ended 30 September 2025 demonstrate the Charity’s commitment to ensuring that the remaining two properties meet the required standard of accommodation. The accounts show a surplus for the year, after depreciation of £525,555, compared to £757,027 in the prior year.

The operating surplus for the year ended 30 September 2025 was £390,476 compared with an operating surplus of £127,228 for the year ended 30 September 2024.

Summary of the main achievements during the year:

b. Key performance indicators

The Charity is focusing on the following key performance indicators:

(1). Occupancy Levels

The target is to maintain a minimum combined occupancy rate of 88% across Culver House and Cotmaton House. Together these two houses provide 32 units and achieved an occupancy rate of 89.1% for the year ended 30 September 2025.

(2). Payroll Cost Ratio

Total payroll costs are targeted at a maximum of 50% of income. For the year ended 30 September 2025, the combined payroll costs for Culver House, Cotmaton House and Central operations were 38.3%, compared with 42.53% for the year ended 30 September 2024.

(3). Service Improvement Plan

SidLife continues to implement its Service Improvement Plan to ensure the delivery of safe, secure housing and strengthened community engagement. A key component of this is resident satisfaction, monitored through accurate and efficient tracking of the Repairs & Maintenance (R&M) log. This allows the Charity to consistently meet the response times set for each category of service request.

A statistical analysis of service performance is conducted annually and shared with residents to promote transparency, increase satisfaction, and encourage engagement. This focus on early resolution helps prevent issues escalating into formal complaints.

c. Review of activities

The Charity continues to maintain an up-to-date and active waiting list, with the aim of minimising the length of void periods. At the same time, the Charity remains committed to upholding high standards of accommodation. A thorough void inspection is carried out each time a resident leaves, allowing sufficient time for any required works to be completed before re-letting the unit.

In relation to payroll costs, the Charity strives to optimise staffing levels and working hours while ensuring that the high standard of service expected by residents is not compromised. The focus remains on efficient resource management, balanced with the delivery of safe, supportive, and well-maintained housing environments.

Page 4

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Strategic report (continued)

Achievements and performance (continued)

d. Investment policy and performance

Our financial investments are a major asset of the Charity and the Trustees of the Charity have overall responsibility for all Financial Investment decisions.

Acting within the guidelines determined by the Trustees, day to day decisions on purchases and sales of Investments are delegated, on a discretionary basis, to RBC/Brewin Dolphin PLC, an experienced Independent Investment Manager under contractual terms, including charges and performance targets, agreed in writing.

The Charity aims to ensure that a balance is maintained between, on the one hand, achieving at least market average percentage increases in Capital values and, on the other hand, low liquidity and volatility risks. This is achieved by maintaining a diversified portfolio. The Independent Investment Managers are responsible for deciding the exact composition of the portfolio within the Trustees guidelines.

The Board is satisfied that the level of reserves, and unrestricted funds, is satisfactory in the view of the Charity's obligations to residents and staff.

Financial review

a. Going concern

After reviewing the Charity's forecasts and projections, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The principal funding received by the Charity is from the residential charges (32 units). The Charity is not Government funded.

The charity considers that the appropriate level of free reserves should be in the region of £300,000. This will ensure that the charity has sufficient resources to be able to operate on a day to day basis and includes a contingency to cover unplanned issues that could arise (such as losses arising should there be a high level of unplanned accommodation vacancies/ voids).

Free reserves represent the unrestricted reserves of the charity less any amounts designated for specific purposes. The net book value of the fixed assets of the Charity (less associated borrowings) have also been designated, due to the fact that these funds are not available for day to day use within the Charity.

At 30 September 2025, the free reserves of the charity stood at £2,168,160. Following the sale of the Court and Bedford flats, the Board is having strategic discussions on allocating potential reserves in future to projects over the next few years in order maximise the benefit to the Charity. The principal theme concerns an evaluation of SidLife’s current estate (stock condition report), in order to plan works for refurbishment and enhancement to maximise our potential in future. The Board feels a period of stability is required, to evaluate our options in moving forward, in order to ensure future success and viability. In the interim, the Charity has set aside £250,000 in a designated RICS / Building improvement work fund. This fund is additional to the free reserves of the Charity and further details are provided in note 18.

Page 5

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

c. Material investments policy

Surplus funds are held on deposit with CAF Bank and earmarked for essential repairs and maintenance (to keep housing stock up to required standards). Longer term investments are managed by Brewin Dolphin.

d. Principal risks and uncertainties

The offer of accommodation must suit the demand from older people and some of the accommodation types may no longer be deemed to meet needs. Additionally, the downward pressure on social housing grants and local pressure on housing benefit need packages, may affect financial viability. Financial viability depends on ensuring that income covers expenditure and that levels of occupancy are maintained at a high enough level to cover costs and augment reserves.

These risks are mitigated by good management and sound governance, which rely on recruiting experienced Trustees and key personnel, backed by structured planning and adequate resources. Operating expenditure is carefully monitored and controlled, and all budget planning and capital expenditure is subject to approval by the Board.

The Charity strives towards full occupancy, raising local awareness to the benefits which the Charity has to offer.

e. Principal funding

The principal funding for the Charity continues to be income from the Residential rental from the 32 units, across

Cotmaton and Culver Houses, and the income from the investment portfolio.

Page 6

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

f. Value for money metrics

Value for Money (VFM) is about being effective in how we plan, manage and operate in the Charity. It requires making the best use of resources available for us to provide quality homes to improve the quality of life of our residents, together with high quality services and support.

The Regulator for Social Housing (RSH) issued a new Value for Money Standard April 2017 and a Technical Note in April 2018. These identified 7 metrics which social housing providers are expected to report their performance against. It is recognised that the metrics will not necessarily be appropriate for all providers and any influencing factors should be explained in the commentary.

Metric 2023/2024 2024/2025 2025/2026
1. Reinvestment % 0% 0% 0%
2. New SupplyDelivered 0% 0% 0%
3. Gearing% 0% 0% 0%
4.
EBITDA MRI interest
cover %		 1.1% 0.5% 0.0%
5.
Headline Social Cost
per unit		 £29,121 £31,451 £23,621
6. Operatingmargin % 53% 80% 62%
7.
Return on capital
employed %		 19.1% 4.5% 11%

The basis for the metrics is as follows:

  1. Reinvestment % - 32 units available, no further units

  2. New supply delivered (social housing units) – 32 units throughout the two houses, no plans to increase or decrease the number of units

  3. Gearing % - Abbeyfield loan repaid in full

  4. EBITDA MRI interest cover % - Net surplus from Unrestricted Funds - no outstanding loans

  5. Headline social cost per unit – social housing costs divided by total units. The Board is aware that the headline social cost per unit is high for the sector, principally due to the service model which incorporates the provision of nutritious meals for residents (the costs of preparing and providing food are not factors highlighted by RSH in its analysis of additional costs which influences the calculation of unit cost).

  6. Operating margin % - Net Expenditure/Total Income includes all income & Expenses, not only those arising from Charitable Activities.

  7. Return on capital employed (ROCE) – Total surplus or deficit/ average total funds

Structure, governance and management

a. Constitution

SidLife limited is registered as a charitable company limited by guarantee and is registered a Charity with the Charity Commission in England and Wales.

The Charity is governed by its Memorandum and Articles of Association.

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Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Structure, governance and management (continued)

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected under the terms of the Articles of Association.

The Executive Committee consists of no less than 3 and no more than 18 members, and the Executive Committee has the power to appoint new Trustees, pending ratification of these appointments at the Annual General Meeting. There are currently 5 Trustees on the Executive Committee.

The Chief Operating Officer manages the operational aspect of the Charity and works closely with the Board on strategic issues. She reports formally at the Board meeting, held bi-monthly.

The Charity relies heavily on its motivated house staff who manage day to day operation of each house and ensure the well-being of the residents. Family members of residents are encouraged to have an active role in ensuring the welfare of residents is maintained.

The Board delegates decisions within clearly defined limits whilst maintaining overall responsibility for strategic direction and policies within the Charity. The Charity values its staff and is committed to paying the National Minimum Wage.

Page 8

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED

(A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Structure, governance and management (continued)

c. Organisational structure and decision-making policies

d. Policies adopted for the induction and training of Trustees

The Charity provides new Trustees with literature from the Charity Commission and the SidLife Financial reports which provides the Trustees with the background knowledge of their responsibilities of being a Trustee, and the duties of care and professional conduct expected of them.

Additional advice and training is actioned as necessary, when identified by the Trustee, or by their fellow Executive Committee members. Typically, Trustees live in the local community and have experience in a business environment. Qualification through substantial work experience in relevant functions is expected of all Trustees, and appropriate professional qualifications, especially in the roles of Chairman, Treasurer and Company Secretary are seen as important, although not essential.

Page 9

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Structure, governance and management (continued)

e. Pay policy for key management personnel

Pay levels for all employees are in line with upper quartile market levels and are recommended by the COO, and approved by the Board. The Charity values its staff and is committed to paying at least the National Minimum Wage.

f. Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Plans for future periods

Following the comprehensive RICS surveys conducted on both Cotmaton House and Culver House, a schedule of essential and recommended building works has been created. This will ensure that the Charity maintains both properties to the high standards expected and to mitigate future deterioration that may be more costly.

Members' liability

The Members of the Charity guarantee to contribute an amount not exceeding £1 to the assets of the Charity in the event of winding up.

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report including the Strategic Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 10

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

Auditors

The auditors, Bishop Fleming Audit Limited, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Mrs V Fursey

Trustee

19 March 2026 | 12:54 GMT Date:

Page 11

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SIDLIFE LIMITED

Opinion

We have audited the financial statements of SidLife limited (the 'charitable company') for the year ended 30 September 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 12

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SIDLIFE LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Trustees' Report and Financial Statements other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Trustees' Report and Financial Statements. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' responsibilities,set out on page 10, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 13

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SIDLIFE LIMITED (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with a particular risk in relation to year-end cut-off. In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override.

We have also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, FRS 102 and UK tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company’s ability to operate or avoid a material penalty. These included social housing and health and safety regulations, data protection and employment law.

Our procedures to respond to risks identified included the following:

We also communicated identified laws and regulations and potential fraud risks to all members of the team

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Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SIDLIFE LIMITED (CONTINUED)

involved in the engagement and remained alert to possible indicators of fraud or non-compliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements , as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Munro FCA (Senior Statutory Auditor)

Bishop Fleming Audit Limited Chartered Accountants Statutory Auditors Brook House Winslade Park Manor Drive Clyst St Mary Exeter EX5 1GD 31/3/2026 Date:

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Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED

(A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Profit on Disposal of Abbeyfield Court
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Net income/(expenditure) before net
gains on investments
Net gains on investments
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
81,771
1,009,881
56,044
79,529
1,227,225
11,297
745,283
756,580
470,645
55,550
526,195
4,318,248
526,195
4,844,443		 Restricted
funds
2025
£
-
-
-
-
-
-
640
640
(640)
-
(640)
30,450
(640)
29,810		 Total
funds
2025
£
81,771
1,009,881
56,044
79,529
1,227,225
11,297
745,923
757,220
470,005
55,550
525,555
4,348,698
525,555
4,874,253		 Total
funds
2024
£
2,325
912,538
14,760
583,477
1,513,100
4,191
798,204
802,395
710,705
46,322
757,027
3,591,671
757,027
4,348,698

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 19 to 35 form part of these financial statements.

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Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER:00762159

BALANCE SHEET AS AT 30 SEPTEMBER 2025

Note
Fixed assets
Tangible assets
13
Investments
14
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
17
Net current assets / liabilities
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
18
Unrestricted funds
18
Total funds		 2,386
16,681
285,623
304,690
(31,960)		 2025
£
2,426,283
2,175,240
4,601,523
272,730
4,874,253
4,874,253
29,810
4,844,443
4,874,253		 2,245
16,287
121,850
140,382
(38,487)		 2024
£
2,771,152
1,475,651
4,246,803
101,895
4,348,698
4,348,698
30,450
4,318,248
4,348,698

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Mrs V Fursey

Trustee Date: 19 March 2026 | 12:54 GMT

The notes on pages 19 to 35 form part of these financial statements.

Page 17

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2025

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
Net cash (used in)/provided by investing activities
Cash flows from financing activities
Repayments of borrowing
Net cash provided by/(used in) financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 19 to 35 form part of these financial statements		 2025
£
339,216
55,336
422,401
(8,859)
911,420
(1,555,741)
(175,443)
-
-
163,773
121,850
285,623		 2024
£
129,146
-
1,240,469
(16,507)
147,431
(1,168,847)
202,546
(263,052)
(263,052)
68,640
53,210
121,850

Page 18

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

1. General information

SidLife Limited is a Charitable Company, limited by guarantee, registered in England and Wales. The Company's registered number is 00762159 and the Charity's registered number is 229545. The registered office address and principal place of business is Cotmaton House, Cotmaton Road, Sidmouth, Devon, EX10 8QT.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

SidLife limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that that no material uncertainties exist and that current and future funding will be more than adequate for the Charity's needs. The Trustees have considered a period of at least 12 months from the date of approval of the financial statements.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income from charitable activities comprises rental and service income receivable and is recognised when the period of rent is due.

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured and then allocated to the General or Restricted Reserves as appropriate.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Page 19

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

2.5 Government grants

Social housing grants (SHG) are made by the Housing Corporation and are utilised to reduce the costs of the purchase or development of land and buildings. Where purchases or developments have been wholly or partially funded by Social Housing Grant, the cost of those purchase or developments have been reduced by the value of the grant received. The value of the grant is disclosed as a separate item in the notes to the financial statements.

Social housing grants can be recycled by the Charity under certain circumstances, if a property is sold or if another relevant event takes place. In these cases SHG can be used for projects approved by the Housing Corporation. Social housing grants may have to be repaid if those circumstances are not met and in that event it is a contingent liability.

2.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.7 Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

The Charity is not registered for VAT. Accordingly no VAT is charged to residents, and expenditure included in the Statement of Financial Activities includes the relevant VAT.

Page 20

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

2. Accounting policies (continued)

2.8 Tangible fixed assets and depreciation

Tangible fixed assets costing £300 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following bases:

Land and buildings are stated at cost or valuation. The cost of properties is their purchase price together with incidental costs of acquisition, less any social housing grants received.

Expenditure on housing properties, which results in an enhancement to the economic benefits arising from the land and buildings, or is a major refurbishment or restoration of part of the structure of the buildings is capitalised. All other expenditure on the interior structure of the houses, including refurbishment of rooms, is expended as maintenance costs.

No depreciation is charged on housing properties because they are maintained in a state of repair such that the estimated residual value of land and buildings is not less than their net book value. The annual charge would therefore be immaterial.

2.9 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.

2.10 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

2.11 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 21

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

2. Accounting policies (continued)

2.12 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.13 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.14 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2.15 Pensions

The Charity has defined contribution pension arrangements for eligible employees other than those who have opted out voluntarily. A defined contribution plan is a pension plan under which the Charity pays fixed contributions into a separate entity. Once the contributions have been paid the Charity has no further payment obligations.

The contributions are recognised as an expense in the Statement of financial activities when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Charity in independently administered funds.

2.16 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 22

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

3. Income from donations and legacies

Appeals and donations
Legacies
Visitors, guests and room hire
Total 2024
4.
Income from charitable activities

Income from letting and care service charges
Total 2024
5.
Investment income

Investment income - bank interest
Income from other investments
Total 2024		 Unrestricted
funds
2025
£
50
80,000
1,721
81,771
2,325
Unrestricted
funds
2025
£
1,009,881
912,538
Unrestricted
funds
2025
£
708
55,336
56,044
14,760		 Total
funds
2025
£
50
80,000
1,721
81,771
2,325
Total
funds
2025
£
1,009,881
912,538
Total
funds
2025
£
708
55,336
56,044
14,760		 Total
funds
2024
£
1,300
-
1,025
2,325
Total
funds
2024
£
912,538
Total
funds
2024
£
-
14,760
14,760

Page 23

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

6. Other incoming resources

Gain on the disposal of Abbeyfield Court
Gain on the disposal of Abbeyfield Flats
Total 2024		 Unrestricted
funds
2025
£
-
79,529
79,529
583,477		 Total
funds
2025
£
-
79,529
79,529
583,477		 Total
funds
2024
£
583,477
-
583,477

7. Investment management costs

Investment management fees
Total 2024		 Unrestricted
funds
2025
£
11,297
4,191		 Total
funds
2025
£
11,297
4,191		 Total
funds
2024
£
4,191

8. Analysis of expenditure on charitable activities

Summary by fund type

Charitable activities
Total 2024		 Unrestricted
funds
2025
£
745,283
797,548		 Restricted
funds
2025
£
640
656		 Total
2025
£
745,923
798,204		 Total
2024
£
798,204

Page 24

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

9. Analysis of expenditure by activities

Charitable activities
Total 2024
Analysis of direct costs
Staff costs
General maintenance
Staff expenses
Food costs and cleaning materials
Minibus leasing and other costs
Minibus leasing and other costs - restricted
Garden maintenance
Council Tax
Light, heat and power
Water rates
Sundry expenses
Depreciation
Loan interest		 Activities
undertaken
directly
2025
£
677,295
663,896		 Support
costs
2025
£
68,628
134,308
Charitable
activities
2025
£
386,551
91,961
3,309
88,141
1,030
640
14,014
5,044
61,895
9,552
4,302
10,856
-
677,295		 Total
funds
2025
£
745,923
798,204
Total
funds
2025
£
386,551
91,961
3,309
88,141
1,030
640
14,014
5,044
61,895
9,552
4,302
10,856
-
677,295		 Total
funds
2024
£
798,204
Total
funds
2024
£
388,069
48,941
1,705
83,652
1,203
656
14,764
12,097
67,085
9,541
7,344
20,228
8,611
663,896

Page 25

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

9. Analysis of expenditure by activities (continued)

Analysis of support costs

Charitable
activities
2025
£
Abbeyfield membership
-
Audit of the charity's annual accounts
14,580
Accountancy services
2,937
Project management fees
-
Legal and consultancy
25,872
Insurance
16,587
Telephone and administrative expenses
8,652
68,628
10.
Auditors' remuneration
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts
Fees payable to the Charity's auditor in respect of:
All non-audit services not included above
11.
Staff costs
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 Total
funds
2025
£
-
14,580
2,937
-
25,872
16,587
8,652
68,628
2025
£
14,580
-
2025
£
353,290
23,205
10,056
386,551		 Total
funds
2024
£
7,734
13,560
3,682
23,862
30,509
38,547
16,414
134,308
2024
£
13,560
3,682
2024
£
357,088
22,328
8,653
388,069

Page 26

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

11. Staff costs (continued)

The average number of persons employed by the Charity during the year was as follows:

Senior Management
Senior management
Deputy managers
Catering
General assistants		 2025
No.
3
2
5
15
25		 2024
No.
3
3
5
17
28

No employee received remuneration amounting to more than £60,000 in either year.

The total amount of employee benefits received by key management personnel during the year (including employer pension contributions and employer national insurance) for their services to the Charity was £62,975 (2024 - £60,495).

12. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).

During the year ended 30 September 2025, no Trustee expenses have been incurred (2024 - £NIL).

Page 27

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

13. Tangible fixed assets

Cost or valuation
At 1 October 2024
Additions
Disposals
At 30 September 2025
Depreciation
At 1 October 2024
Charge for the year
On disposals
At 30 September 2025
Net book value
At 30 September 2025
At 30 September 2024		 Freehold
property
£
2,746,319
-
(342,872)
2,403,447
-
-
-
-
2,403,447
2,746,319		 Motor
vehicles
£
9,587
-
-
9,587
7,669
1,918
-
9,587
-
1,918		 Fixtures and
fittings
£
177,732
8,859
(35,910)
150,681
154,817
8,938
(35,910)
127,845
22,836
22,915		 Total
£
2,933,638
8,859
(378,782)
2,563,715
162,486
10,856
(35,910)
137,432
2,426,283
2,771,152

Freehold property at cost comprises housing properties at cost of £2,587,447 less Social Housing Grant of £184,000.

Page 28

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

14. Fixed asset investments

Cost or valuation
At 1 October 2024
Additions
Disposals
Revaluations
At 30 September 2025
Net book value
At 30 September 2025
At 30 September 2024		 Listed
investments
£
1,450,061
1,481,032
(888,891)
44,884
2,087,086
2,087,086
1,450,061		 Cash
Investments
£
25,590
74,709
(12,145)
-
88,154
88,154
25,590		 Total
£
1,475,651
1,555,741
(901,036)
44,884
2,175,240
2,175,240
1,475,651

In addition to the revaluation movements reported above realised gains on disposal amounted to £10,384 (2024 - £8,903).

Page 29

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

15.
Stocks
Stocks
16.
Debtors
Prepayments and accrued income
17.
Creditors: Amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2025
£
2,386
2025
£
16,681
16,681
2025
£
13,606
-
2,018
16,336
31,960		 2024
£
2,245
2024
£
16,287
16,287
2024
£
14,704
7,383
754
15,646
38,487

Page 30

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

18. Statement of funds

Statement of funds Statement of funds
Statement of funds - current year
Balance at 1
October
2024
£
Income
£
Unrestricted
funds
Designated
funds
Fixed asset fund
2,771,152
-
RICS/Building
improvement
work fund
-
-
2,771,152
-
General funds
General Funds
1,547,096
1,226,517
Total
Unrestricted
funds
4,318,248
1,226,517
Restricted
funds
Fisher legacy
fund
30,450
-
Total of funds
4,348,698
1,226,517		 Expenditure
£
-
-
-
(755,872)
(755,872)
(640)
(756,512)		 Transfers
in/out
£
(344,869)
250,000
(94,869)
94,869
-
-
-		 Gains/
(Losses)
£
-
-
-
55,550
55,550
-
55,550		 Balance at
30
September
2025
£
2,426,283
250,000
2,676,283
Unrestricted
funds
Designated
funds
Fixed asset fund
RICS/Building
improvement
work fund
General funds
General Funds
Total
Unrestricted
funds
Restricted
funds
Fisher legacy
fund
Total of funds		 Balance at 1
October
2024
£
2,771,152
-
2,771,152
1,547,096
4,318,248
30,450
4,348,698
2,168,160
4,844,443
29,810
4,874,253

The fixed asset fund represents the net book value of tangible fixed assets, less associated loans. It has been separately designated as the value tied up in fixed assets is not readily available for the day to day operations of the Charity.

The RICS/Building improvement work fund has been established to fund maintenance and improvement work on the Charity’s properties. This will include matters identified during a RICS survey that was completed during the year and any other works that the Trustees consider to be beneficial in ensuring that all properties are of a high quality and are maintained to a high standard.

The Abbeyfield Court closure fund (included in the comparative figures below) represented the amount ring fenced by the charity to cover estimated costs in respect of the closure and sale of Abbeyfield Court, other than costs where there was a formal obligation at the prior year end and in respect of which a provision had been included in the financial statements.

The Fisher legacy fund is to provide outings to the countryside for residents, staff and volunteers of all houses.

Page 31

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

18. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
Designated
funds
Fixed asset
fund
Abbeyfield
Court closure
fund
General funds
General Funds
Total
Unrestricted
funds
Restricted
funds
Fisher legacy
fund
Total of funds		 Balance at
1 October
2023
£
3,168,812
64,000
3,232,812
Balance at
1 October
2023
£
327,753
3,560,565
31,106
3,591,671		 Income
£
-
-
-
Income
£
1,513,100
1,513,100
-
1,513,100		 Expenditure
£
-
-
-
Expenditure
£
(801,739)
(801,739)
(656)
(802,395)		 Transfers
in/out
£
(397,660)
(64,000)
(461,660)
Transfers
in/out
£
461,660
-
-
-		 Gains/
(Losses)
£
-
-
-
Gains/
(Losses)
£
46,322
46,322
-
46,322		 Balance at
30
September
2024
£
2,771,152
-
2,771,152
Balance at
30
September
2024
£
1,547,096
4,318,248
30,450
4,348,698

Page 32

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

19. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
2,426,283
Fixed asset investments
2,175,240
Current assets
274,880
Creditors due within one year
(31,960)
Total
4,844,443
Analysis of net assets between funds - prior year
Unrestricted
funds
2024
£
Tangible fixed assets
2,771,152
Fixed asset investments
1,475,651
Current assets
109,932
Creditors due within one year
(38,487)
Total
4,318,248		 Restricted
funds
2025
£
-
-
29,810
-
29,810
Restricted
funds
2024
£
-
-
30,450
-
30,450		 Total
funds
2025
£
2,426,283
2,175,240
304,690
(31,960)
4,874,253
Total
funds
2024
£
2,771,152
1,475,651
140,382
(38,487)
4,348,698

Page 33

Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

20.
Reconciliation of net movement in funds to net cash flow from operating activities
2025
£
Net income for the year (as per Statement of Financial Activities)
525,555
Adjustments for:
Depreciation charges
10,856
Gains on investments
(55,268)
Dividends, interests and rents from investments
(55,336)
Gain on the sale of fixed assets
(79,529)
Decrease/(increase) in stocks
(141)
Decrease/(increase) in debtors
(394)
(Decrease) in creditors
(6,527)
Net cash provided by operating activities
339,216
21.
Analysis of cash and cash equivalents
2025
£
Cash in hand
285,623
Total cash and cash equivalents
285,623
22.
Analysis of changes in net cash
At 1
October
2024
Cash flows
£
£
Cash at bank and in hand
121,850
163,773
121,850
163,773		 2023
£
757,027
20,228
(46,322)
-
(583,477)
678
2,778
(21,766)
129,146
2024
£
121,850
121,850
At 30
September
2025
£
285,623
285,623

23. Charity status

The charity is a company limited by guarantee and consequently does not have a share capital. Each of the Trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of winding up.

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Docusign Envelope ID: 567D7DF4-D5F1-4877-8BEB-030F975FC7F8

SIDLIFE LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

24. Related party transactions

The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 30 September 2025.

25. Accommodation units

At the year end there were 32 units (2024: 32) in management.

The Registered Social Housing Provider owns no property managed by the other bodies.

The Registered Social Housing Provider manages no properties on behalf of others.

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