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2025-03-31-accounts

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Company Registration Number: 00448920 Charity Registration Number: 229571

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CONTENTS PAGES
Directors'/ Trustees' report 1 - 12
Reference and administrative details 13
Statement of trustees' responsibilities 14
Independent auditor's report 15 - 17
Statement of financial activities 18
Balance sheet 19
Statement of cash flows 20
Notes to the financial statements 21 - 35

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YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

DIRECTORS' / TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

FOREWORD BY THE CHAIR OF TRUSTEES

Over the 2024/2025 financial year, Yateley Industries has continued to grow, develop and help more disabled people. The launch of the new brand reflects the renewed ambition of the Charity to increase our reach and impact. It has been fantastic to see more volunteers on site through the Community Matters Partnership, more people on site at the Summer Fete and more engagement in the wider community at the Variety Show at the Camberley Theatre.

Yateley Industries is lucky to be led by a strong, passionate and innovative CEO. Sheldon is not afraid to take difficult decisions, speak uncomfortable truths and fight for what is right. When the Charity came up against another potentially existential threat from increased bureaucracy and delayed payments at the Department of Work and Pensions, and despite external pressure not to do so, he vigorously campaigned to raise awareness of the issues affecting Yateley Industries, other supported businesses and disabled people across the UK.

The magical community that epitomises Yateley Industries is thanks to its people. It is therefore devastating to have recently lost three members of our wonderful community. Maura Devine and Gary Perry were long-standing staff in our supported factory. Maurice Flaherty, our former maintenance manager, worked at Yateley Industries for more than 14 years, and continued to volunteer with us, even through his battle with cancer. They will all be sorely missed.

As the Charity has continued to grow and develop, we have reorganised our Board committees to better suit its current needs. We continue to have a Finance Committee overseeing the annual budget and quarterly management accounts. We have added a Pension Committee, led by experienced Pension solicitor Duncan Buchanan, to tackle the organisation of our closed pension scheme, which remains one of the biggest challenges to Yateley Industries’ finances. Our new Governance and Risk committee oversee policy and procedure, business continuity and risk and governance. We are fortunate to have recently recruited several new Trustees, bringing new skills, experience and perspectives to the Charity.

At last year’s Annual General Meeting (AGM) in October 2024, long-standing Trustee Michael Steel retired at the end of his term. Michael was the only Trustee of the new era of Board members appointed in 2017 to have remained for a full three terms. We thank Michael for his outstanding service to the Charity; his knowledge and experience of the challenging transition period having been especially critical to stabilising the Charity and ensuring it could survive and go on to thrive again.

At the AGM this November, long-standing Trustee Edward Brunel-Cohen, Vice-Chair Mark Allen and myself will retire at the end of our terms as Trustees. It has been a pleasure to work with Mark and Edward and we are extremely grateful for the enormous positive impact their input has made to Yateley Industries over their many years of service.

This will therefore be my last foreword to this report as Chair of Trustees. It has been an honour to be a Trustee, Company Secretary and the Chair of Yateley Industries. Over the past seven years, I have seen the Charity experience varied, unexpected and exceptionally difficult challenges and face them with integrity, passion and resolve to always do the very best we can for our beneficiaries. Whilst the challenges will continue to come, I know I leave the Charity in an extremely strong position with a fantastic CEO, management team and Board of Trustees, with new strategy, services and innovations on the way. I will

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YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

DIRECTORS' / TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

always be a proud supporter of Yateley Industries and look forward seeing how it continues to develop and flourish, led by new Chair Neil Blackley and Vice Chair, Phil Southwell.

Sarah Beckwith

Chair of Trustees

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YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

DIRECTORS' / TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

OBJECTIVES AND ACTIVITIES

The objects for which the Association is established as set out in the Articles of Association are the relief of those in need because of long term health conditions or disability by (but without prejudice to the generality of the foregoing) providing vocational training, employment and / or accommodation.

"Empowering Lives Through Live, Work, Learn, Play"

Yateley Industries for the Disabled is guided by a clear vision: to build a society in which disabled and neurodivergent adults are empowered to live fulfilling lives, enjoying equal access to opportunities, support, and community engagement. Our mission is to provide high-quality accommodation, meaningful employment, training, and enriching opportunities for disabled and neurodivergent adults, enhancing their independence and promoting community integration. Our services are grounded in four core values: empowerment, enabling individuals to lead fulfilling, independent lives; respect, treating every person with dignity and allowing their voices to shape our services; inclusivity, removing barriers and ensuring everyone feels welcome; and community, serving not just as a provider, but as a hub that connects people and strengthens social bonds.

Our work is structured around four strategic pillars: Live, Work, Learn, and Play.

LIVE: Quality Accommodation

We focus on providing high-quality, affordable, and accessible accommodation for disabled and neurodivergent adults. In close collaboration with our residential care provider, we support each individual’s needs and encourage their progression toward greater independence. Our objectives include increasing the number of available accommodation units, particularly self-contained, single-occupation units that are en-suite and approximately 50m² in size. Expansion is managed through phased redevelopment, with a strong emphasis on integrating care services. Community integration is a priority: we have established a vibrant Community Hub that generates employment, a Community Pantry offering affordable food options, and a Community Café that supports training and employment. We also run a range of courses, events, and maintain transparent communication channels.

WORK: Meaningful Employment

We are committed to providing meaningful employment opportunities and supporting career development for disabled and neurodivergent adults. Our goals include modernising our factory, expanding employment opportunities within Yateley Industries, and increasing external job placements in the wider community. We have broadened the diversity of roles, including those within our café, hub, office, and facilities, and established an Employability Incubator focused on mainstream employment and leadership progression. Community integration efforts include developing an external job coach service, partnering with local businesses, providing inclusivity training for companies, and offering ongoing support for successful workplace integration.

LEARN: Skills Development

Education and skill-building are essential for personal and professional growth. We facilitate skills-development programmes across all departments and seek to raise community awareness of Yateley Industries’ activities. Regular workshops cover digital literacy, financial management, and cooking, while accredited courses are delivered through educational partnerships. Structured work experience, graduate programmes, and enhanced employability certifications are key components, supported by regular open days and outreach initiatives designed to attract volunteers, supporters, and enhance inclusion.

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YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

DIRECTORS' / TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

PLAY: Recreation & Well-being

Quality of life is enhanced through a broad range of recreational activities that promote well-being and social interaction. We develop and deliver sports, arts, crafts, gardening, music, and drama programmes in close collaboration with our community. Regular community trips and outings are organised, and we are in the process of establishing a co-production panel to help design and evaluate our services. To broaden impact and generate income, we encourage wider participation through partnership, corporate sponsorship, and grant funding.

Theory of Change and Impact Measurement

Our approach to delivering transformational impact for disabled and neurodivergent adults relies on a combination of funding, staff expertise, partnerships, facilities, and community support. Through activities such as providing accommodation, job coaching, skills workshops, outreach, and recreation, we achieve tangible outputs, accessible living spaces, job placements, community events, and training completions. These, in turn, lead to greater independence, improved well-being, increased employability, and stronger community inclusion, all contributing to our ultimate goal: enabling disabled and neurodivergent adults to live dignified, autonomous, and valued lives while generating broader economic benefits.

We engage closely with disabled and neurodivergent adults, their families, and community groups to co-create employment roles, internships, and skills development pathways, supporting smooth transitions from education into employment. Partnerships with local businesses, educational providers, and recreation organisations ensure a diversity of pathways and opportunities, making inclusion the norm. We provide employers with training, support, and visibly demonstrate the benefits of hiring disabled adults.

Our ability to employ more people and improve infrastructure is underpinned by ongoing efforts to secure funding from the DWP and DoE, Trusts, Local Authorities, individuals, and companies. The evolution of our management and Trustee Board further strengthens our capacity to achieve our objectives.

Measuring Our Impact

We use clear metrics to evaluate progress:

Through these efforts, Yateley Industries continues to empower disabled and neurodivergent adults, championing independence, inclusion, and vibrant community life.

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YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

DIRECTORS' / TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

ACHIEVEMENTS AND PERFORMANCE

Summary of those directly benefiting from Yateley Industries activities:

Total employees 78
Employees
on
TESG & AtW+		 59
TESG 6
AtW+ 53
Local
authority
funded staff		 18
Access
to
Work
customers		 0
Volunteers 26
Residents 36
Community Pantry
Members		 857
at end of March 25.

Occupancy of the residential buildings has decreased to 77% as we continue to deal with the legacy issues of residents who are not matched to our accommodation type and accommodation that has not been properly maintained for over three decades. The majority of referrals to our services request self-contained accommodation. Trends have shifted and shared accommodation is less desirable. Yateley Industries has embarked on a journey to modernise and update (even replace) some of our accommodation buildings. This will be years in the making but will help secure the future of our charity for many decades to come.

Yateley Industries receives small levels of funding from the Department of Work and Pensions (DWP) Access to Work scheme. TESG is being phased out and Access to Work Plus (AtW+) has replaced it. Despite working closely with Policy colleagues at the DWP for many years, the roll out of AtW+ in October 2024 was fraught with issues and at one stage we were owed £186k and were forced to lead a national campaign to bring our plight to wider attention. In addition, AtW+ grants have ranged from £2k to £12k pa for equivalent individuals for no apparent reason. Furthermore, the wait times for processing applications is in excess of 32 weeks currently. This makes it very difficult for any supported business to recruit new staff and grow our commercial offer (despite having a waiting list capped at 25). We remain committed to helping the Government and the DWP overcome the systemic challenges that the scheme faces, in order to help the manifesto promise to ‘Get Britain Working’ happen. Our analysis shows that at the level to allow Yateley Industries to hire more people, the AtW+ employment grant would provide a 5:1 economic Benefit to Cost ratio.

Our Access to Work job coach service, delivering in work support, has been a success internally. We have mapped the skills, abilities and desires of individuals to the right team roles for them. It is very much in line with the aims of the charity to support disabled people into meaningful employment and this continues to form a large part of creating a pathway through our services into ‘mainstream employment’. We now have our first ‘mainstream’ client and plan to expand our Job Coaching service to third party work with more disabled people out in the community.

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YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

DIRECTORS' / TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

Our Fundraising function has been incredibly successful with Maria Mannan (Community, Events and Marketing Fundraiser) raising our profile, engaging more volunteers and reengaging our local community in supporting us through purchasing our products, attending our events and raising much needed funds for us. Poppy Bastin has done an incredible job in bringing in unprecedented funds from trusts and grant sources, which have helped develop our work and furthering our mission. Poppy leaves us in September 2025 for pastures new and we wish her well on her next adventure. She leaves us with a great foundation for her successor to build on and take us forward.

Within the factory, the major activities undertaken by Yateley employees include packaging products such as soaps, signage, hardware and luxury hampers. Production at the factory has continued to increase and whilst our plans to open later and also on weekends have been delayed by the DWP issues, we remain hopeful that this is a potential area for growth and our mission objective to get more disabled people into meaningful work. We still need to broaden our pool of customers, but we have taken on a few more this year and plan to get more.

We have growing numbers of regular volunteers that support the Charity. Many of these work in the Community Pantry, but we are also working closely with many corporate groups via Community Matters Partnership (CMP) who link corporates to charities to fulfil CSR objectives. These activities have helped us tidy the grounds, repaint the community spaces and transform the factory into a bright and vibrant space.

This year has been about reestablishing relationships and forging new connections to expand our network, after decades of damage and disconnection during the McLarry era of mismanagement. These new and renewed relationships are helping to bring in potential revenue streams, whilst allowing us to help even more disabled people. Our new strategy highlights the four pillars at the heart of our mission; Live, Work, Learn and Play – and each of these areas combined allow us to support disabled people in a holistic way. Our aim is to reposition ourselves as an employability hub, providing specialist support and reclaiming our position as a leader in the way we work with disabled people.

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

DIRECTORS' / TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL REVIEW

The report confirms that the financial statements:

The Trustees confirm that they have had regard to the Charity Commission’s guidance on public benefit.

Financial Position

The Charity’s turnover decreased 2% for the year, due to the absence of a large legacy received in the previous year.

Fundraising revenues of around £377,000 included a number of grants brought in by the fundraising team, such as for refurbishment of the Pantry and Café. Overall TESG/Access to Work+ receipts from the DWP increased as the migration took place during the year from TESG to DWP’s new Access to Work Disability Employment Grant. Local Authority funding continued to reduce due to a lower number of eligible employees. Overall Workshop sales increased 1%, including Biodiesel revenues.

Within rents and charges receivable, rental income from Accommodation increased by 6.5%, due to rent and service charge increases. The Community Pantry declined 11% due to the opening of other food banks in the area. The Community Pantry continues to be supported by a Local Authority grant to enable it to thrive. The Café made a full year's contribution, and there was healthy growth in Community Hub income, but both depend on grant support. There was no income from the Helping Hands charity shop, which was closed in the previous year.

The National Living Wage increased by nearly 10% for the second year running, and together with lower Local Authority receipts and Fundraising, the Gross Margin decreased by nearly 17 percentage points.

Central costs, excluding pension payments, increased 23% due to a full year’s impact of the increase in staff and the more onerous DWP application and reporting requirements for disability employment grants. Overall, operating profit before pension contributions, depreciation and interest declined some 17 percentage points.

After pension contributions of £120,000 and interest payable of £74,766, there was an operating deficit of (£67,000) before depreciation.

Overall, the charity finished the year with gross cash of some £200,000, down from £400,000, due to a substantial absorption of working capital caused by delays in payment of AtW grants by the DWP, increasing debtors. After representations to the DWP, these arrears were paid in the beginning of the new financial year.

The charity continues to make an annual £120,000 contribution to the Defined Benefit pension scheme in the year. The latest scheme valuation shows a substantial 44% reduction in the level of pension deficit, driven by the latest contributions, a reduction in

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YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

DIRECTORS' / TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

the number of members and revisions to the parameters used to calculate future pension liabilities, particularly a correction in the retirement age.

For the current year, the charity is looking at a number of initiatives to offset the further 6.7% rise in the NLW, and a 1,200% rise in Employer’s National Insurance contributions in April 2025. Overall, we believe the prospects put the charity on course with its 10-year Pension Deficit Reduction Plan.

Investment policy

The Memorandum and Articles of Association governs and provides the framework within which the Charity makes its investment decisions.

Repaying our loan and pension deficits is the priority for the Charity to ensure its future sustainability.

Reserves policy

Yateley Industries has a reserves policy to enable the charity to meet the good practice standards of the Charity Commission Guidance CC19 “Charity Reserves and Building Resilience”. The reserves are held to cover fluctuations that may arise in projected operating income and/or expenditure and the need to wind down the Company in an orderly fashion (should the need arise). The acceptable range of reserves is set annually during the financial forecasting and budgeting process and approved by the Board. The reserves are monitored by the Management Team and reported quarterly to the Board.

Total funds amounted to £1,941,782 as at 31 March 2025. Of this, £57,319 is restricted and not available for the general purposes of the charity. Unrestricted funds amounted to a total of £1,884,463, including Designated funds of £2,569,336 at the end of the financial reporting year. These mainly represent the initial gift of land to the charity and subsequent expenditure on the factory and bungalows and are amortised in accordance with our depreciation policy. Unrestricted general reserves showed a deficit of £684,873 (2024: £1,009,430). The deficit arose in previous years, primarily due to the recognition of the pension liability, which the Trustees are taking steps to reduce with an annual £120,000 contribution.

Funding Sources

The Trustees are grateful to those who have contributed financially to Yateley Industries in many ways throughout the year. These contributions are essential to keep the Charity running.

Third Party Funding - Yateley Industries reason for existing is to help disabled people, and for that reason it can only operate with substantial third-party funding. TESG/ATW funding from DWP amounted to £382,341 and Local Authority funding amounted to £207,994.

Grants – We have received several grants during the financial year. Some of these have been for core funding which is essential to the organisation. Other grants have been received which include support for estate improvements.

Legacies - A way to support us is to remember Yateley Industries in wills. A solicitor can advise on a form of words for a bequest.

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YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

DIRECTORS' / TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

Online Shopping – Donations for Yateley Industries can now be raised by those shopping through easyfundraising.org.uk/causes/yateley-industries-for-the-disabled-limited/.

Subscriptions - We would like to take this opportunity to thank all Members of the Association for their annual subscriptions, and our many other supporters who have contributed to the charity over the past year. Currently the Association has 43 members.

Donations - All donations, whether cash gifts or gifts in kind, however small, and whatever form are always most welcome. Online donations can be made on the Yateley Industries website: https://www.yateleyindustries.org/ or on Yateley Industries’ Justgiving page: https://www.justgiving.com/yateleyindustries..

Donations can be enhanced via Gift Aid in certain circumstances. The Finance Office is happy to provide details on request.

The Association wishes to record its gratitude to the following Charitable Trusts, companies, groups and individuals who have made donations to the Charity in the year:

Anon – the funders who wish to remain anonymous. 360 Mortgages – (Variety Show Sponsorship) A Brown Aeonian Foundation Arnold Clark Baily Thomas Charitable Fund Blackbushe Airport – (Variety Show Sponsorship) Bruce Wake Charitable Trust Co-op – (gift card for community easter lunch) Costco David Solomons Charitable Trust E Wayland Edgar E Lawley Foundation Ethical Supplies Eversley and Bramhill Trust Farnborough Fliers WI Garfield Weston Foundation Geoff and Fiona Squire Foundation Gerald Palmer Eling Trust Hampshire Active Fund Hart District Council – UKSPF Hart Winter Grant Hampshire County Council Hook Road Races J Bloomfield J Gribble J Goddard Jr Guillebaud (LEGACY DONATION) Kent Group L Sarney M & N Bareham M Gain Misslebrook Trust Mrs Kirby N Blackley National Lottery

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YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

DIRECTORS' / TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

One Stop S Hawker S Macbenn S Mercer S Searle Sandhurst & Yateley Church Screwfix Foundation Shanly Foundation Syder Foundation Tesco- Groundwork UK The Hedley Foundation Yateley & District Lions Yateley Cricket Club Yateley Manor School Yateley Motor Spares Yateley Road Races Zedra (W O Street Foundation)

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YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

DIRECTORS' / TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The organisation is a charitable company limited by guarantee, incorporated on 31 January 1948 and registered as a charity on 14 October 1963. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

Recruitment and Appointment of Trustees

The Directors of the company are also charity Trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association one third of the Trustees must retire by rotation and stand for re-election at each AGM.

Members of the company must be over the age of 18. There are currently 43 members. The fees for membership of the company are currently set at £10 minimum per annum.

All Members are entitled to nominate Trustees prior to the first scheduled Trustees' meeting before a forthcoming AGM. This is to enable the candidate to be formally introduced to the other Trustees and for the Company Secretary to alert the potential Trustee to the responsibilities and workload entailed.

Trustee Induction and Training

The existing Trustees can appoint any Member of the Association. They are co-opted until the next AGM when they stand for formal election.

All Trustees must accept the responsibilities and the necessary work that is intrinsic to the position. They are required to sign a declaration and agreement outlining these requirements prior to acceptance to the Board.

New Trustees are expected to undertake orientation and training that may be identified as key to the performance of their role. Yateley has an onboarding process for new Trustees to brief them of their legal obligations under charity and company law, the content and the meaning of the Memorandum and Articles of Association, the recent financial performance of the Charity and its future business objectives. Trustees are encouraged to take part in the day-to-day activities of the residents and customers to enable them to appreciate the needs of the staff and residents at Yateley.

Risk Management

The Trustees have a risk management strategy which comprises;

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YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

DIRECTORS' / TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

Authority funding. Our CEO will continue to maintain dialogue with key parties to minimise this risk.

Organisational Structure

The Charity is run by the Trustees, who meet at least quarterly, and they are aware that they have ultimate responsibility for the Charity and make decisions collectively. The Board has appointed three sub-committees to assist in overseeing priority areas which are: Finance, Pension and Governance and Risk.

A salaried CEO is appointed by the Trustees to manage the day-to-day tactical operations of the Charity. To facilitate effective operations, the CEO has full delegated authority, within terms of delegation approved by the Trustees, for all operational matters including finance management and employment. The remuneration of the CEO is set by the Board with reference to the pay of similar positions in similar companies/charities. The CEO makes recommendations to the board on the structure of the management team and the remuneration of the Charity’s other key management personnel.

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YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

DIRECTORS' / TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

REFERENCE AND ADMINISTRATIVE DETAILS

The following have been involved with the administration of Yateley during the 2024/25 financial year:

Directors/Trustees

Michael Steel (retired October 2024) Sarah Beckwith Mark Allen Carolyn Gibb Edward Brunel-Cohen Philip Southwell Lucy de’Lemos Neil Blackley Dawn Jacobs

The following have been appointed after 31 March 2025, but prior to the date of this report: Zoe Brown (appointed 6 May 2025) Peter Rimmer (appointed 6 May 2025) Lisa Stoliar (appointed 6 May 2025)

Company Secretary

Carolyn Gibb

CEO

Sheldon McMullan

Auditors

Rock Tax & Accounting, Elm House, Tanshire Park, Elstead, Godalming, Surrey, GU8 6LB.

Solicitors

Knights PLC, Midland House, West Way, Botley, Oxford, OX2 0PH

Banking Services

Barclays Bank Plc, 1 Churchill Place, London E14 5HP Reliance Bank Limited, 23-24 Lovat Lane, London, EC3R 8EB

Pension Scheme

Dalriada Trustees Limited are the Trustees of the Yateley Industries pension scheme.

Registered Office

Mill Lane Yateley, Hampshire GU46 7TF

Company Registration Number

448920

Registered Charity Number

229571

Charity Website

www.yateleyindustries.org

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YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

DIRECTORS' / TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors for the purpose of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees must prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the trustees are required to:

a) select suitable accounting policies and then apply them consistently;

b) observe the methods and principles in the Charities SORP;

c) make judgments and accounting estimates that are reasonable and prudent;

d) state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

e) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue to operate.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees confirm that so far as they are aware, there is no relevant audit information (as defined by section 418(3) of the Companies Act 2006) of which the charitable company’s auditors are unaware. They have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the charitable company's auditors are aware of that information.

Approved by the Board of Trustees on and signed on its behalf by

Signed …………………………

15 October 2025 Date …………………

Sarah Beckwith (Chair)

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YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 MARCH 2025

OPINION

We have audited the financial statements of Yateley Industries for the Disabled Limited (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and 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 (United Kingdom Generally Accepted Accounting Practice), 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 UK, including the FRC'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 entity'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.

OTHER INFORMATION

The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. 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.

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 MARCH 2025

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 Report of the Trustees.

We have nothing to report in respect of the following matters where 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, 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.

AUDITOR’S 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 a Report of the Independent Auditors 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.

The engagement partner ensured that the engagement team collectively had the appropriate

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 MARCH 2025

competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.

We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector. We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company. We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and considering the internal controls in place to mitigate risks of fraud and noncompliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we performed analytical procedures to identify any unusual or unexpected relationships, tested journal entries to identify unusual transactions; assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and investigated the rationale behind significant or unusual transactions.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify noncompliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor’s 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 the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Amit Prasanna (Senior Statutory Auditor) for and on behalf of Rock Tax & Accounting Elm House, Tanshire Park Shackleford Road, Elstead Godalming Surrey GU8 6LB

Date: 06 November 2025

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

----- Start of picture text -----
Unrestricted Unrestricted
Notes general designated Restricted Total funds Total funds
funds funds funds
2025 2025 2025 2025 2024
Restated
£ £ £ £ £
INCOME AND ENDOWMENTS FROM:
Charitable activities 5 889,998 - - 889,998 792,448
Other trading activities 6 191,465 - - 191,465 176,105
Donations and legacies 7 151,931 - 225,142 377,073 513,851
TOTAL INCOME AND ENDOWMENTS 1,233,394 - 225,142 1,458,536 1,482,404
EXPENDITURE ON:
Raising funds 8 216,771 - 208,785 425,556 317,682
Charitable activities 9 1,055,342 - - 1,055,342 933,997
Defined benefit schemes 21 62,000 - - 62,000 157,000
TOTAL EXPENDITURE 1,334,113 - 208,785 1,542,898 1,408,679
NET INCOME/ (EXPENDITURE) (100,719) - 16,357 (84,362) 73,725
Reallocation of depreciation charges between funds 31,276 (31,044) (232) - -
OTHER RECOGNISED GAINS/(LOSSES)
Actuarial gains/ (losses) on defined benefit schemes 21 394,000 - - 394,000 (73,000)
(Losses)/ gains on the revaluation of fixed assets 11 - - - - (79,234)
NET MOVEMENT IN FUNDS 324,557 (31,044) 16,125 309,638 (78,509)
RECONCILIATION OF FUNDS
Total funds brought forward (1,009,430) 2,600,380 41,194 1,632,144 1,710,653
Total funds carried forward (684,873) 2,569,336 57,319 1,941,782 1,632,144
----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derives from continuing activities, with the exception of expenditure relating to the Charity Shop, which closed in 2024 (2024: all continuing activities).

2024 figures have been restated to reflect the change in method for allocating support costs.

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET AS AT 31 MARCH 2025

Notes
FIXED ASSETS
Tangible assets
11
CURRENT ASSETS
Stock
12
Debtors
13
Cash at bank and in hand
CREDITORS: Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS: Amounts falling due after more than one year
17
NET ASSETS EXCLUDING PENSION LIABILITY
Defined benefit pension scheme liability
21
TOTAL NET ASSETS
25
FUNDS OF THE CHARITY
RESTRICTED FUNDS
22
UNRESTRICTED FUNDS
Designated funds:
23
Designated funds:Revaluation reserve
Designated funds:Designated funds
Unrestricted general funds
24
TOTAL UNRESTRICTED FUNDS
TOTAL FUNDS		 3,480,439
3,480,439
5,403
220,318
199,583
425,304
(133,997)
291,307
3,771,746
(1,245,964)
2,525,782
(584,000)
1,941,782
57,319
2,074,167
495,169
2,569,336
(684,873)
1,884,463
1,941,782
2025
£		 3,507,418
3,507,418
5,003
70,892
402,907
478,802
(72,112)
406,690
3,914,108
(1,245,964)
2,668,144
(1,036,000)
1,632,144
41,194
2,098,541
501,839
2,600,380
(1,009,430)
1,590,950
1,632,144
2024
£

These accounts have been prepared in accordance with the provisions of FRS 102.

These accounts were approved and authorised for issue by the Board on and signed on its behalf by the following: 05 November 2025

MARK ALLEN

NEIL BLACKLEY

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

----- Start of picture text -----
Notes 2025 2024
£ £
Net cash flow from operating activities 27 (110,194) (101,040)
Cash flows from investing activities
Purchases of fixed assets (18,364) (10,870)
Net cash from investing activities (18,364) (10,870)
Cash flows from financing activities
Repayment of borrowings (74,766) (53,150)
-
Cash inflows from new borrowing 350,000
Net cash from financing activities (74,766) 296,850
Net increase/ (decrease) in cash and cash equivalents (203,324) 184,940
Cash and cash equivalents at beginning of year 402,907 217,967
Cash and cash equivalents at end of year 199,583 402,907
Cash and cash equivalents comprise:
Cash at bank and in hand 199,583 402,907
Bank overdrafts - -
199,583 402,907
----- End of picture text -----

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

2 STATEMENT OF ACCOUNTING POLICIES

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 GENERAL INFORMATION

Yateley Industries for the Disabled Limited is a charitable company, limited by guarantee and incorporated in England and Wales. Its registered office is:

Mill Lane Yateley Hampshire GU46 7TF

The financial statements are presented in Sterling, which is the functional currency of the company, and monetary amounts are rounded to the nearest pound.

Basis of preparation of financial statements

These financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - Charities SORP (FRS 102); the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102); and the Companies Act 2006.

Yateley Industries for the Disabled Limited meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value except for the revaluation of freehold property.

Legal status of the charity

The charity is a private company limited by guarantee incorporated in England and Wales and has no share capital. In the event of the charity being wound up, the libaility is respect of the guarantee is limited to £1 per member of the charity.

Going concern

The Trustees have considered going concern and are of the opinion that the charity will continue to operate beyond 12 months of these financial statements being approved. There are no material uncertainties about the charity's ability to continue. The Trustees therefore consider the going concern basis to be appropriate.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Rents receivable represent the rents payable by the disabled tenants, and is received mainly in the form of housing benefits. Rental income is also received from private tenants.

Income received by way of donations, legacies, gifts and contributions towards employment and residential costs is included in the statement of financial activities in the year in which it is receivable.

Grants receivable are included in the year in which the offer is conveyed by the charity except in those cases where the offer has conditions, such grants being recognised as income when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are not included in the financial statements.

Charity shop sales represents the value of donated goods sold in the charity shop.

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2 STATEMENT OF ACCOUNTING POLICIES - continued

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis under the following headings.

Costs of raising funds comprises fundraising costs incurred in seeking donations, grants and legacies; costs of fundraising activities including the costs of goods sold, shop costs, commercial trading and their associated support costs.

Expenditure on charitable activities includes the costs of providing accommodation, employment, care and support, and other activities undertaken to further the purposes of the charity and their associated support costs.

Support costs comprise those costs which are incurred directly in support of expenditure on the objects of the charity and include governance, finance, and office costs. Governance costs are those costs incurred in connection with the compliance with constitutional and statutory requirements of the charity. These costs are apportioned depending on the type of expense in the most appropriate way according to the various cost centres.

Tangible fixed assets

Fixed assets, other than land and buildings, are carried at cost less accumulated depreciation and accumulated impairment losses.

Land and buildings includes the freehold factory and bungalows which are carried at their revalued amounts, being fair value at the date of valuation less subsequent depreciation and impairment losses. Revaluations are performed by professional qualified valuers with sufficient regularity to ensure that the carrying amounts do not differ materially from those that would be determined using fair values at the end of each reporting period. Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amounts of the asset and the net amount is restated to the revalued amount of the asset.

Any revaluation increase and/or decrease in the carrying amount of freehold property is recognised in the statement of financial activities and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in the statement of financial activities, in which case the increase is credited to the statement of financial activities to the extent of the decrease previously expended. Due to the nature of the property the revaluation reserve is included within the designated funds.

Depreciation has been provided at the following rates so as to write off the cost or valuation of the asset less their residual value over their estimated useful lives:

Freehold factory premises 1% straight line basis per annum Freehold bungalows 1% straight line basis per annum Factory equipment and motor vehicles Four to eight years straight line basis Restaurant furniture and equipment Four to eight years straight line basis Fixtures and fittings 10% reducing balance basis per annum Charity shop furniture and equipment Four to eight years straight line basis

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the statement of financial activities, and included within governance costs.

All fixed asset additions purchased for continuing use within the charity are capitalised.

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2 STATEMENT OF ACCOUNTING POLICIES - continued

Stock

Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a standard cost basis.

Donated items of stock for resale or distribution are not included in the financial statements until they are sold or distributed because the trustees consider it impractical to be able to assess the amount of donated stocks. This is due to no systems being in place which record these items until they are sold and undertaking a stock take would incur undue cost for the charity which far outweigh the benefits.

Debtors

Short term debtors are measured at transaction price, less impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.

Taxation

The charitable status of the organisation has been confirmed and the company is not liable to corporation tax on its surplus or gains to the extent that they are applied for charitable purposes.

Financial instruments

The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks and other third parties.

Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the statement of financial activities.

The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the charity would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Loan commitments entered into by the charity are measured at cost, less any impairment.

Leases

Rentals applicable to operating leases where substantially all of benefits and risks of ownership remain with the lessor are charged to the statement of financial activities on a straight line basis over the lease term.

Payments received under operating leases are recognised as income over the lease term on a straight line basis.

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2 STATEMENT OF ACCOUNTING POLICIES - continued

Borrowing costs

All borrowing costs are recognised in the statement of financial activities in the period in which they are incurred.

Pension fund arrangements

The most recent estimated valuation of the scheme was undertaken by Broadstone Consultants and Actuaries Limited as at 31 March 2025 and has reported a net deficit of £584,000. The movement in the year has been recognised in the statement of financial activities.

In addition to the above, the company also operates a defined contribution pension scheme under autoenrolment rules. The amount charged to the statement of financial activities in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contribution actually paid in the year are shown as either accruals or prepayments in the balance sheet.

Provisions for liabilities

Provisions are recognised when the company has a present legal or constructive obligation as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and a reliable estimate can be made.

Provisions are measured at the best estimate of the expenditure required to settle the obligation at the balance sheet date. Where the effect of the time value of money is material, the provision is discounted to present value.

Fund accounting

Funds held by the charity are:

Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the directors/trustees.

Designated funds - these are funds that are set aside by the directors/trustees out of unrestricted general funds for specific future purposes or projects.

Restricted funds - Restricted funds received are to be used for specifically nominated expenditure by the donor and are credited to income in the year in which they are received. Where amounts are not specifically allocated against expenditure in that year the balance is deferred and added to the balance brought forward on the restricted funds and is used in subsequent years in line with the restrictions placed by the donor.

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results.

No judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies.

The key assumptions concerning the future and key sources of estimation of uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include the revaluation of freehold property and the estimation of the useful economic life of tangible fixed assets.

STAFF COSTS
Average number of persons employed by the company, including directors,
during the year:
Production
Sales and distribution
Administration and management
Staff costs incurred during the year in respect of these employees were:
Wages and salaries
Employers NI
Pension costs		 2025
Number
64
2
13
79
2025
£
930,875
30,120
7,514
968,509		 2024
Number
59
2
10
71
2024
£
746,101
18,774
5,475
770,350

Operating costs of defined benefit pension schemes are disclosed in Note 20.

One employee received emoluments exceeding £60,000 (2024: emoluments of 1 members of staff within the range of £70,000- £79,999) not including retirement benefits.

The key management personnel of the charity comprise the trustees and the Chief Executive Officer. The total remuneration of key management personnel during the year was £79,726 (2024: £74,036).

During the year, none of the trustees have been remunerated via the charity's payroll scheme and no trustees' expenses occurred.

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

----- Start of picture text -----
5 INCOME FROM CHARITABLE ACTIVITIES 2025 2024
£ £
Rent and charges receivable 299,663 281,188
Charges raised against local authorities:
Bracknell Town Council 35,574 32,159
-
Wokingham Borough Council 9,041
Hampshire County Council 131,459 145,751
Somerset County Council 15,915 13,272
North Yorkshire County Council 25,046 19,173
TESG/ Access to Work grants receivable 382,341 291,864
889,998 792,448
6 INCOME FROM OTHER TRADING ACTIVITIES 2025 2024
£ £
Workshop 142,040 141,059
-
Charity shop 6,088
Community pantry 20,653 23,279
Community hub 8,519 3,784
Café 20,253 1,895
191,465 176,105
7 INCOME FROM DONATIONS AND LEGACIES 2025 2024
£ £
Fundraising 289,893 500,912
Community pantry 43,089 12,024
-
Community hub 44,091
Cafe - 915
377,073 513,851
----- End of picture text -----

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

8 EXPENDITURE ON RAISING FUNDS

Production costs
Salaries
Premises costs
General expenses
Depreciation & amortisation
Support costs		 Fundraising
Community
Community
2025
Workshop
Charity Shop
activities
pantry
hub
Café
Total
£
£
£
£
£
£
£
70,467
-
-
-
-
-
70,467
6,708
-
46,986
22,750
23,023
69,370
168,837
31,423
2,826
-
-
-
-
34,249
20,812
1,242
5,079
12,162
22,590
12,367
74,252
11,625
-
-
-
-
-
11,625
-
30,000
9,852
3,284
6,568
16,422
66,126
141,035
34,068
61,917
38,196
52,181
98,159
425,556		 2024
Total
Restated
£
70,459
77,428
27,716
114,746
9,976
17,357
317,682

Included in the above are total operating lease payments recognised as an expense amounting to £2,700.

9 EXPENDITURE ON CHARITABLE ACTIVITIES

Salaries
Premises costs
General expenses
Depreciation & amortisation
Interest
Support costs		 Costs in
Charges
generating
against
TESG/
2025
2024
rental income
local authorities
Access to Work
Total
Total
Restated
£
£
£
£
£
36,054
217,001
395,016
648,071
563,524
55,215
-
-
55,215
42,767
43,236
-
-
43,236
21,336
33,718
-
-
33,718
33,603
74,766
-
-
74,766
73,218
9,853
68,879
121,604
200,336
199,549
252,842
285,880
516,620
1,055,342
933,997

Interest payable relates to a loan as detailed in Note 16.

10 ALLOCATION OF SUPPORT COSTS

Support and overhead costs are allocated between fundraising activites and charitable activities.

Governance costs are those support costs which relate to the strategic and day to day management of the charity. Costs have been apportioned directly to the applicable income stream, where practicable. All other costs have been apportioned on the basis of headcount proportion (2024: income proportion).

2024 figures have been restated to reflect the change in method for allocating support costs by headcount, which is deemed by the Trustees to be a more appropriate basis. The impact of this is a reapportionment of support costs between Raising funds and Charitable activities. There has been no impact on total expenditure.

Legal & professional charges
Audit & accountancy
Governance
Financial administration & other
Salaries & related costs
TOTAL		 Charitable
2025
2024
Raising funds
activities
Total
Total
£
£
£
£
2,906
16,112
19,018
26,446
1,749
9,701
11,450
17,050
4,655
25,813
30,468
43,496
38,310
46,083
84,393
44,012
23,161
128,440
151,601
129,398
66,126
200,336
266,462
216,906

£11,625 of support costs have been allocated to restricted funds (2024: 12,625). All other support costs have been allocated to unrestricted funds.

Audit and accountancy costs include £4,750 in respect of the statutory audit and £6,700 in respect of other accountancy services.

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

----- Start of picture text -----
11 TANGIBLE ASSETS Charity
Factory Restaurant shop
Freehold Freehold equipment & furniture & Fixtures & furniture &
factory bungalows motor vehicles equipment fittings equipment Total
£ £ £ £ £ £ £
Cost or valuation
At 1 April 2024 860,281 2,988,338 245,233 24,295 82,982 1,467 4,202,596
Additions - 15,218 3,146 - - 18,364
At 31 March 2025 860,281 3,003,556 248,379 24,295 82,982 1,467 4,220,960
Accumulated depreciation
At 1 April 2024 64,582 303,284 239,347 24,081 62,417 1,467 695,178
Charge for year 8,603 31,661 2,969 54 2,056 - 45,343
At 31 March 2025 73,185 334,945 242,316 24,135 64,473 1,467 740,521
Net book value
At 1 April 2024 795,699 2,685,054 5,886 214 20,565 - 3,507,418
At 31 March 2025 787,096 2,668,611 6,063 160 18,509 - 3,480,439
----- End of picture text -----

Notes:

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

12
STOCK
Raw materials
13
DEBTORS
Trade debtors
Other debtors
Prepayments and accrued income		 2025
£
5,403
5,403
2025
£
40,623
179,637
58
220,318		 2024
£
5,003
5,003
2024
£
33,531
36,593
768
70,892

All amounts included above are receivable within one year of the balance sheet date. Other debtors include an amount of £97,904 due from the Department for Work and Pensions. This has been repaid in full after the year end.

14 CREDITORS: amounts falling due within one year

Trade creditors
Taxation and social security
Accruals and deferred income
Provisions for liabilities		 2025
£
37,840
11,110
55,047
30,000
133,997		 2024
£
27,699
9,573
34,840
-
72,112

Included within trade creditors are amounts which may be the subject of retention of title clauses.

15 DEFERRED INCOME

Included in accruals and deferred income (Note 14) is deferred income of £33,137 (2024 - £2,701). Deferred income relates to amounts received in advance in respect of receivable leases and grants received.

Balance as at 1 April 2024
Amount released to incoming resources from generated funds
Amount deferred in year
Balance as at 31 March 2025		 £
2,701
(2,701)
33,137
33,137

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

16 PROVISIONS FOR LIABILITIES

----- Start of picture text -----
||| |---|---| |£| |-| |Balance as at 1 April 2024| |Additions during the year|30,000| |Balance as at 31 March 2025|30,000|

----- End of picture text -----

At 31 March 2025 the charity recognised a provision of £30,000 (2024: £nil) in respect of potential additional costs arising from the surrender of a previously held lease. The provision represents the trustees’ prudent estimate at the reporting date. The timing and final amount of settlement are uncertain.

Analysis of provisions:

----- Start of picture text -----
||| |---|---| |£| |Due within one year|30,000| |Total provisions for liabilities|30,000|

----- End of picture text -----

17 CREDITORS: amounts falling due after more than one year

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |£|£| |Loans and overdrafts|1,245,964|1,245,964| |1,245,964|1,245,964|

----- End of picture text -----

The charity has a loan agreement with Aeonian Foundation of £1,500,000 of which £1,245,964 has been drawn down. The loan agreement is over a 15 year period and carries an annual interest rate of 1.0% above the Bank of England's Bank Rate. At 31 March 2025, the outstanding loan balance was £1,245,964 (2024 - £1,245,964).

Included in the amounts falling due after more than one year are the following amounts which are due in more than five years:

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |£|£| |Loans and overdrafts|1,245,964|1,245,964|

----- End of picture text -----

Analysis of creditors falling due after more than five years:

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |£|£| |Aggregate of instalments which fall due for repayment after five years:| |Loans and overdrafts|1,245,964|1,245,964|

----- End of picture text -----

Aggregate of instalments which fall due for repayment after five years:

SECURED DEBTS

The loans and overdrafts, totalling £1,245,964 (2024 - £1,245,964), are secured by a first charge over the entity's freehold property, which has a carrying value of £3,455,707.

18

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19 OPERATING LEASES

Amounts falling due under operating leases:

Expiring in less than one year
Expiring in two to five years
Expiring in more than five years		 2025
£
-
-
-
-		 2024
£
10,800
-
-
10,800

20

RECEIVABLE LEASES

There are amounts receivable from disabled and private tenants in the freehold properties held by the charity. The total of future minimum payments for these are £238,516 which are all receivable within one year. There are no amounts receivable over one year.

21 PENSION COMMITMENTS

The company operated a pension scheme providing benefits based on final pensionable pay, which is now closed to further pension contributions, but will continue to provide payouts to eligible employees in the scheme. The assets of the scheme are held separately from those of the company, being invested by Dalriada Trustees Limited as the pension scheme trustees. Dalriada Trustees Limited were appointed as the pension scheme trustees on 29 August 2013. As the supporting employer, the company makes payments to the scheme where necessary to meet any deficits in the fund.

The most recent valuation was performed for the year ended 31 March 2025. This valuation has determined that there was a net pension deficit at 31 March 2025 of £584,000. The deficit for the year ended 31 March 2024 was £1,036,000. The movement in the year has been recorded in the statement of financial activities accordingly.

The company also makes contributions to a defined contribution scheme with NEST to meet their auto-enrolment responsibilities. Contributions payable in the year are charged to the statement of financial activities. At the end of the year, a balance of £2,255 was due to the scheme.

PRINCIPAL ACTUARIAL ASSUMPTIONS

Discount rate
Inflation (RPI)
Inflation (CPI)
Revaluation in deferment
Pension increases RPI (3,5)
Pension increases Fixed 3
Mortality:
Base table
Allowance for future improvements
Present value of defined benefit obligation
Fair value of plan assets
Net defined benefit liability		 2025
5.60%
3.10%
2.10%
2.10%
3.10%
3.00%
S3PXA
CMI 2023 [0.5%]
2025
£
1,446,000
(862,000)
584,000		 2024
4.70%
3.20%
2.20%
2.20%
3.20%
3.00%
S3PXA
CMI 2022 [0.5%]
2024
£
1,851,000
(815,000)
1,036,000

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

21 PENSION COMMITMENTS - continued

COMPOSITION OF PLAN ASSETS

Equities
Bonds
Gilts
Cash
Total plan assets
AMOUNTS RECOGNISED IN THE STATEMENT OF FINANCIAL ACTIVITIES
Included in administrative costs
Expenses paid
Included in finance costs
Interest on net liability
Analysis of actuarial gain included in other comprehensive income
Actual return on plan assets less interest
Experience losses on liabilities
Change in assumptions
CHANGES IN FAIR VALUE OF PLAN ASSETS
Opening fair value of plan assets
Employer contributions
Benefits paid
Expenses paid
Interest income
Remeasurement (losses)/ gains on assets
CHANGES IN PRESENT VALUE OF DEFINED BENEFIT OBLIGATION
Opening defined benefit obligation
Interest cost
Benefits paid
Remeasurement (gains)/ losses on defined benefit obligation		 2025
£
-
607,000
179,000
76,000
862,000
2025
£
15,000
15,000
47,000
47,000
(38,000)
85,000
347,000
394,000
2025
£
815,000
120,000
(59,000)
(15,000)
39,000
(38,000)
862,000
2025
£
1,851,000
86,000
(59,000)
(432,000)
1,446,000		 2024
£
200,000
-
-
615,000
815,000
2024
£
105,000
105,000
52,000
52,000
(24,000)
(63,000)
14,000
(73,000)
2024
£
499,000
470,000
(56,000)
(105,000)
31,000
(24,000)
815,000
2024
£
1,775,000
83,000
(56,000)
49,000
1,851,000

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22 RESTRICTED FUNDS

At 1 April 2024
Surplus of income over expenditure for the year
Charges allocated
At 31 March 2025		 2025
£
41,194
16,357
(232)
57,319		 2024
£
41,426
-
(232)
41,194

Restricted income funds consist of the surplus of donations received towards the purchase of new plant and equipment and expenditure on freehold improvements less the annual charge for depreciation in respect of those assets purchased.

23 DESIGNATED FUNDS

REVALUATION RESERVE
Freehold factory premises
Freehold bungalows
DESIGNATED FUNDS
Freehold factory premises
Freehold bungalows
TOTAL DESIGNATED FUNDS		 Balance
Movement in
Balance
1 April
resources
31 March
2024
- incoming/ (outgoing)
2025
£
£
£
664,592
(6,921)
657,671
1,433,949
(17,453)
1,416,496
2,098,541
(24,374)
2,074,167
103,151
(1,479)
101,672
398,688
(5,191)
393,497
501,839
(6,670)
495,169
2,600,380
(31,044)
2,569,336

Designated funds consist of the initial gift of the land to the charity, together with subsequent expenditure on the construction, extension and subsequent modernisation of the factory and bungalows.

The designated funds are amortised in accordance with the depreciation policy attaching to the asset they were used for.

The freehold property was independently revalued on 29 November 2016, 16 May 2019 and 13 September 2023 with the increase in value attributed to a revaluation reserve in the designated funds.

24 UNRESTRICTED GENERAL FUNDS

At 1 April 2024
Surplus of income over expenditure for the year
At 31 March 2025		 2025
£
(1,009,430)
324,557
(684,873)		 2024
£
(1,040,050)
30,620
(1,009,430)

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

25 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fund balances at 31 March 2025 represented by:

Fixed assets
Current assets
Current liabilities
Liabilities due after more than one year		 Unrestricted
Unrestricted
general
designated
Restricted
Total
funds
funds
funds
funds
£
£
£
£
853,784
2,569,336
57,319
3,480,439
425,304
-
-
425,304
(133,997)
-
-
(133,997)
(1,829,964)
-
-
(1,829,964)
(684,873)
2,569,336
57,319
1,941,782

26 STATEMENT OF FINANCIAL ACTIVITIES- COMPARATIVE FIGURES BY FUND-TYPE

INCOME AND ENDOWMENTS FROM:
Charitable activities
Other trading activities
Donations and legacies
TOTAL INCOME AND ENDOWMENTS
EXPENDITURE ON:
Raising funds
Charitable activities
Defined benefit schemes
TOTAL EXPENDITURE
NET INCOME/ (EXPENDITURE)
Reallocation of depreciation charges
between funds
OTHER RECOGNISED GAINS/ (LOSSES)
Actuarial losses on defined benefit plans
(Losses)/ gains on the revaluation of fixed assets
NET MOVEMENT IN FUNDS
Total funds at 1 April 2023
Total funds at 31 March 2024		 Unrestricted
Unrestricted
general
designated
Restricted
Total
funds
funds
funds
funds 2024
Restated
Restated
£
£
£
£
792,448
-
-
792,448
176,105
-
-
176,105
402,014
-
111,837
513,851
1,370,567
-
111,837
1,482,404
205,845
-
111,837
317,682
933,997
-
-
933,997
157,000
-
-
157,000
1,296,842
-
111,837
1,408,679
73,725
-
0
73,725
29,895
(29,663)
(232)
-
(73,000)
-
-
(73,000)
-
(79,234)
-
(79,234)
30,620
(108,897)
(232)
(78,509)
(1,040,050)
2,709,277
41,426
1,710,653
(1,009,430)
2,600,380
41,194
1,632,144

Docusign Envelope ID: 291FC2C1-EAC5-4F2E-B1F4-C7C5C0F4B220

YATELEY INDUSTRIES FOR THE DISABLED LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

27 RECONCILIATION OF NET INCOME/ (EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/ (expenditure) for the year
Adjustments for:
Depreciation
Interest
Net pension expense
(Increase)/ decrease in stocks
(Increase)/ decrease in debtors
Increase/ (decrease) in creditors		 2025
£
(84,362)
45,343
74,766
(58,000)
(400)
(149,426)
61,885
(110,194)		 2024
£
73,725
43,579
73,218
(313,000)
(397)
26,674
(4,839)
(101,040)

28 ANALYSIS OF CHANGES IN NET DEBT

Cash and cash equivalents
Cash
Borrowings
Debt due within one year
Debt due after one year		 At 1 April 2024
Cash flows
Other non-cash
At 31 March 2025
changes
£
£
£
£
402,907
(203,324)
-
199,583
402,907
(203,324)
-
199,583
-
-
-
-
(1,245,964)
(74,766)
74,766
(1,245,964)
(1,245,964)
(74,766)
74,766
(1,245,964)
(843,057)
(278,090)
74,766
(1,046,381)

29 RELATED PARTY TRANSACTIONS

The company is limited by guarantee and accordingly there is no one controlling party of the company. There were no transactions with related parties during the year.

No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year.

30 FINANCIAL COMMITMENTS

The charity has a loan agreement with Aeonian Foundation of £1,245,964, which is carries an annual interest rate of 1.0% above the Bank's Sterling Business Rate.

The company operated a pension scheme providing benefits based on final pensionable pay. The assets of the scheme are held separately from those of the company, being invested by Dalriada Trustees Limited as the pension scheme trustees. The latest valuation conducted as at 31 March 2025 has reported a deficit of £584,000 which has been recognised in the accounts. As the sponsoring employer, Yateley Industries for the Disabled Limited is liable to cover the deficit on the pension fund. The Trustees to the Scheme, Dalriada, have agreed an affordable recovery plan for the scheme.