Charity regi8tralionnuTnber 232743 Benenden Almshouse Charities Amual Rqjort al FinwJriEI Statmts fortk YrJT Ended 31 December 2025
Benenden Almshouse Charities Contents (eolltinued) R¢frren and AdmiriVe Detsi15 Ito2 InL¥teeè Retx)rt 3to5 staM of TnLStecs' R¢s[Gibl11¢1cs IndeÈxTJdeni AuditOTd Rert 7t09 Ststement ofFinaucial Activits¢s 10 Cath Flow Statenw 12 Notests the Fitt¢1 Ststements 13to24
BeneDden Alrnsbous¢ Charities Reference Admltttstrative Detsils Chalrmatt Robin Dalton Flolmcs TrJtet8 who served in 2014 Robin Dtll HoJm¢s J•Ji B¢onie JohD Burbage The Revd. Dawd coMta Br Guifand Colitt H8ym9JL Arian Neve Other oifiee D¢ix)rthJcnkin4 Clerk Chirlty R¢gistrntion Number 232743 Rryutered offi¢¢ The Rectory Th¢ Green Benenden Cranbrook TN174DL Lloyd% Bank plc PO Box 1000 CSU Charln Pla Binkers Atthver Hamp8hite SPIQ IRE The Charity Bank Llmlted Fosse Ho 182 Iligh Sttvi Tonbridge IN9 IBE Auditor Vicroria House The Moor Hiwkhwst Cranbrook Kent INI8 4NR
Bellendell AitDSbou8¢ Cbriti Reference ¥Jlld AdminiJtr#ttve Detsils (eontinued) OthtrRtftrthet nd AdmlnirtrAtion Detsils Qu*mtlty SuT¥eybrs D&Ten Sill & AssociatC5 Grttnacres 66 Hockers Le D¢tliDg Maidsion¢ KENT MEI4 3JW Project MIn•Eeml LogÈc PMIN Bast¢T} Suite 15. Mtiidth)r House Maid8tolle KENT ME15 6AW Page 2
Benettden Almshou3¢ Charilies Trusttt8' Report The ¢nM¢¢s pr¢s¢ni the atmual port wgcth¢r with th¢ fthajjcial statements and auditor5, rcportofthe ¢harity for the year cn(kd 31 DcccmE¢T 2025. Tk fItClaI stawnents knve been prq>arcd in [rdan with the &tountig Fx)li¢i¢$ set out in the notesio fllmriaj statements and o)tnply with the djariws de¢dand applic?bl¢ law. Cottstitution Ch*itable Trust wa5 ¢5tsbIlth by a Thi# Deed dat¢d 12 Jonuary 1960 ordcr to athuinistrr the Cjwities fortn¢rly &% Tr ThOrnHOu chlty, and'The Feoffec Cknity. The maw¢m¢tLt orth¢ TnL51 15 the Jes>n51bI1lty of Tnthr5 appTrinted for their relevHtrt sklllg 8lld Spproved by thc Be]xndeft PgJish C4bUllCi], kn8¢iherwith aneXffi¢lO Tru51¢¢ being the Reclor of Be[th Obj¢di¥u ld •ctivities The prineipal object of the TN5t is to provide accommodation in thc of Almshouses forpxbT or nttdy pers with slBtiifLC8ttt rtsidenti link5 ty BeneEJL The agrttd proj¢Gt comprises 12 a]mshouxs of varying 5iZeS to Fffovid¢ arL0]Dmjtrn lor o rang¢ of Qu1n% Sidents. The Charity is fortunat¢ ill InE [tOlIe1 TnL8tees with essertti w of appropriat¢ TKeess9ry skills for th¢ p12Dned development of 12 lW almshouses in Fcoffet Fields. Two ¢ontra¢ts wrre agreed sig[a with Canhgm Homes Ltd for th¢ 50le of l&tHI for private housing and Siml9e0sty th¢ con5tru¢lion of 12 new a]mshous¢s, It was agtced that the 51Z¢5 and twrtthr of uniis would match thE r¢qviTcments of the large nurnr of
teniia] applicgJts conDeClioq to th¢ rArish who hve eXpSSed a Strong inter( the occupation of single. th)ub]e and larger accommodati(m. li is hoped that the units will bt ready for oc£llpHtion in April 2026 on th¢ b8SiS Lbf ami&MaTth prath1] ¢ompl¢tiort date. The Trust¢¢S Atrd that the ¢xisting T[d¢ts of tht six units in FcolTc¢ CottJg¢s $knuld Rlocated to the devclopnKnt if F¥)55iblc. This would enable a renthlling a1 upgrdding of a¢tommodation lo producc four vertically divided mo(krni5¢d untts. 11 w&$ ihat rf the planning applic4tion for thi5 Mod1]$tiOn approv by Tunbridge Wells BoTOUEh Couo¢il it w)uld be finwce4 in pao by a Kcond grani from Hornes England. Dwin8 th¢ ycaT ? i)¢tupant of No.6 Fcoffe¢ Coltages expeCted]Y di¢d He w r¢pla¢ed by t 1708 20 yw lot>g terni n*mt¢r of the Bettendejj School r¢sideDt $LT, to8ether with her husbaThd in th¢ Spring of 2025. It was further agrccd that, if po3sible. Mrs Deborah J¢nkin4 tkn ChaTity'$ Cluk should b¢ provided with a nanent site otSce adjacent w the F¢offec Cotta8es to bcttcr copr M'ith th¢ in(Ssed that will com¢ with thE athjitionaj nwnber of units and r¢5idents. MTS. J¢nkiti9 had alFAI agreed lo an incre2se ill her vmrking hours 10 3 days a ¢ Developrnenl Futtdlttg The fund5 5¢wred the siyJin8 of contracts with CFJth8m Homes for the sak orth¢ piivyte land frll short of the costofdeveloping the 12 ttew alrtLshouses. Th¢ Charity thn)ugh its Memb¢rElP orth¢ Alrn$hous¢ G)ttsortium rDOled kn secuT¢ a grant frojn Homes England for £660.000. ofthis £495,01)O Was paid on the tottunenteme]Lt of developmettl ijj February 2025. The balanc¢ of £165.000 15 due to he pttid following Practical Complctiotl of the (kveloprtrt li is hO(d these fi15 wiu I1 only Y for the n¢w alkns but abo rcpl¢nish the Cjjarity's serves. Pag¢ 3
Benenden Almshoe Charities Trus¢tts' R¢port {WDtiDued) ObJét¥h¥ strrtegleJ Revlew#tsd Policy Obiettives Developmont PJ• The A]m5h(¥u Sectorrcmains exempt from fv Right to ertitlcmettt. The con4ruction of d¢velopment woviths a onMiff opportunity to r¢model mod¢mise Ik accomrnod&ion at Feoffee Collages. This is the priority for the TnIS8 followed by a similar exerLise fvr Tlxm JttaECS. OJJ(£ done the Charity's property portfolits will be modern and fit for purrA)se. The ittcretd revenue frorn the Soci Yehts will $0 eJJ#ble th Chwity lo coDsi&rothet wrtU[litieS in the Cutwe. Voi Void5 ar¢W]K no T¢nts T¢]Ved )d ttL¢ pfopErty i5 vawl. Publit benefrt In setting thc charity's objcctives and planning its activmcs thc Trnsttts have given cotLsidcra(ion to th¢ Charity Commission guidance on public benefit. Th¢ tnJ5tf¢5 Conf that Ih¢y hav¢ complied wÉth th¢ rquir¢mrnts of5¢dion 17 of th¢ Chariti¢5 Act 201 I to hav¢ r¢gardtothe public IKnefit guidance pub]i8Trd by the Charity CIMrniission forEngland and Wk)les. Strutturei governlnce and mxlligement RiskM4DwEeTh¢Tht Th¢ T5&v¢ a risk g¢ent 5tsat¢gy wkn.ch ¢ompn5¢5 qn otlgoing r¢vi¢w oftr risk5 th¢ Chlty may face.. th¢ ¢x8blishmenl of sy5Trm5 and pro(tdures io mitl8are the ideniified risL8' and the implenxntation of predu8 designed to m1niSe ony W*Thtiat impact on the Charity should tmse risks materialise. verdl trLLFte¢s ha $i]rI¢d thai thEy would of thaDc¢d . wish lo relinquish th¢ir rol¢ YJLd Ttsign. )ttntial rtplatement applicarrts will #ttend 8 futs]Tt Truste(%' mettin8 to establish whether they nwght ¢njoy the d1¢5 of ste¢ShiP and all active appointmenL Tbis will coDtribJle io a nwked reduthion in the average age of Pag¢ 4
Benenden Almsbou5¢ Ch#ritieJ Trustses, Report (contilled) Poliry ox reJeryeJ The TTU51¢cs have rtsolvcd that th¢ir ongothg metves policy should br Such thaL aside from malor ¢apitai developm¢n( T¢SV¢S to the Val of a mintm¥m of 2 years maiftt¢nan¢e conlriburioJLS should normdly b¢ rinfenced to providc for lo>8 of iJ>come in the wholc of on¢ protxrty pl8 th¢ cost of fibIsh1llg 2 Yant accommiKl4li4M) dwelIings simultsneou81y. At the yeaTrend free re5EfYcs Wtt¢ £765.159 (2024.. £45,593) 2nd this should cover the remaining c4>nStrvction wsts. Tht ¢uueTht objective is w target for reserve5 of £100,0. The Itvs hav¢ mHintainEd fullds in acceible investrnellts and other holdtng> Trnees have agr¢¢d ttapitaiisation w]i¢y of anything over £500. DistIop of inforniti(FD to auditor Each kn tskcn strps that th¢y ou8ht to Jjave taken lls H order to make thenJsrlv¢s iw¥re trf any relevant audit information and to C5tsblistL that th¢ tlty.8 audiwf j5 of thai information. Th¢ tnws fiym thwl there is no Televa iofornttion that th¢y know of and of wtiich thcy kN>w fr auditor is ulw. The anDuo1 rerA)rt will bt approv¢d ai th¢ AGM by tht I'rnstccs ofthE charity lrt July 2026. Page 5
Benelld¢D Al]n8hou8e Chariti¢ Statsment of Trte¢s? Re$pon8ibilities Th¢ trwes ore Sl]SIble for pRparin8 the ts. rewrt and the financial ststements accordanc¢ with th¢ United Kingdom AttOWding Stattslards Iunitcd Kingth)m (kntraity Accwtcd Ae£ouLtiDg Practic¢} ATh1 applicable law and regul105. Th¢ law applicable to thaTities qUitE$ the trustees prepart fanCIaL statements for each financial year which ¢ a tN¢ and fair vi¢w of th¢ st¢ of #ffairs of charity aod of the intomiLB resources aDd app]i¢iDn of resources ol'the ciwity for thatp¢riod. In prcparing th¢5e fi[Wla1 stat¢m¢nt& thc trusl¢¢s 4r¢ wquited to.. 5cl¢ct 5Uitabl¢ 8crounling pDIiGi¢5 al thED apply them comsistentty. observe the metlwNJs and principles in the Charities SORP. make judgements end ¢stim4trs that art reasonabl¢ pnu' wh¢dKr applir&bk 4rcou]rting stHnd3rds followwl 5je¢l w •Ly mateTi8L deparn2tes disclosed and cxplained inlhe flnancial 51am¢nts: and th¢ finan¢iAI ststemttsLS on the 8Oin8 wncern b&8is uttless it is in¥propriate to preSLID that th¢ charity will continu¢ in busine The trLLStees 3re re4x)llsiblc foi kccping woprr accountithg tc£otd5 thal disclos¢ with r¢wnabk accura¢y at any tiEnE thE fuwi¢ia] posiiion of the chariiy and enable to ensure that the flnanci staiements comply with the Charities Act 2011. the Charities (Accounts and Rcwrtsl Rceulations 2008, attd the pmvisions of thc ¢onstiwtion. The inL5e5 are responsible for safeguardll th¢ as5¢ts of th¢ charity ¢[< fi)r tskitbg &Sonabl¢ sl¢ps tor the preventiott and de¢tion of fraud and oth¢ri¢gU1aritlt The t8 ar¢ r¢sp0Tr5ibl¢ for th¢ maint¢narK¢ Rnd integrity of the torporate and flnancial iDfonnation included oll thc ¢haritsblc company's websi. LcgiSIIoD governing tk preparatv)n and (liss¢mination of may differ from leslaOn in other juri8dithions. Ap ed b the tnLfft65 of the ch&ity onlo..4.¢*4p.. sId on itsb¢half by.. Cbwifiian and trust¢e Pag¢ 6
BeDend¢n Almshouse Cbarities IndeptThdeot Auditor's Report to the Members of Belleud¢o Ajmshouse Cbariti Opini W¢ wdit¢d the fJnatLciai statts of BerKnden AJnh5hw ClrItIeS {the 'chuity) for th¢ yw etsjed 31 December 2025. wbich cornpri5e th¢ Statement of F1¢]1 Activiti¢& Ba13nce SheeL Cash Flow Stsm¢nl. and Notes to the Financial Statements, including a sun]]Dary of signifi¢anl accounting poliGi¢ The financial T¢P(krtin8 frarncwotk that h&% b¢en Èpplied itt Ihcir pr¢paration 15 Unittd Kingdom Accounting Siottdards, comprising ChtLeS SORP - FRS 102 FiThanciai Rery)rting Stand applicabk in the UK and liepubli¢ of Ir¢land' 2nd licable law (Urtitrd Kingdom Genmlly Acrepted Accounting Practic¢). In our opu)ion th¢ fJThwllcial stat¢JDents'. giv¢ at1 fair view of the Df the chaTity¥ affair5 a5 al 31 DecemFxr 2025 JTrJ ofits inMing Tesour¢e5 and 8pplitaih)n of Tesoiircc4 Ln¢ludint its inL7)m¢ and &xp¢nditw¢, for the year then ¢nd¢d: have been WIrty prcp&Ted fft itordallee with Unit¢d KinKdom &nerally Acrepted Accounting Practi¢¢', aDd haye beenFfP8r¢d in wordance with th¢ T¢quirn of the Ctwiti¢s Act 2011. Y$i for opilio We ¢ondurtd audit in accordanc¢ trtlernational Stwdards on Auditing IUKI IISAS IUKII 8t app]icabIe jaw. OLY 5)Ibilities tho% standardg are fijtthcr &scrib¢d in th¢ auditor responsibiliti¢s for tht audil vr the fjttancial stat¢Eu¢n15 S¢¢lion ofour report. We arc in(k)det of thc ¢harity in aroJdance with th ethtul rtquirements that relevatst to our audit of th¢ fillantiai staments the UK including th¢ FRC'S Ethical StatLdar4L alld have fvifilled our other ethi(al resp)nsibiltii¢s in accordance with thesc rwwTEments. We believe that audit ¢videttte have obtaitKd 15 wfficient and approwial¢ to providE a b&is for our opinioj). CoD¢lu#Ton8 T¢l&ting to gOlDg COD¢¢rn In auditing the fitsal ststements, wc have (XbncludBd that the Injstees use of the going oo]Jwn Ix8ts Or4untinB in the prrpwation of the fin8ntigJ sthennts is appropriat¢. BBsed on Ihe work have perfornied. we Iwv¢ not idetttified aDy mal¢rial unc¢rfainties relatir4 to events or cOallIOnS thaL Individlly OT colleciivcly. may &grkifiwi doubl ihc charitys ability to coniifiw as a going conc¢m foT ap¢riod ofat l¢aèt tsvelve mojth from when th¢ Orig1 firtartciai atements wrr¢ authorised f(x issue. tESWll5ibiliiies and resFx)tssibilities of the trusl¢¢s with rc5PE£ttO 80ing concern d¢Tibed ill the televant sccIi0Th5 0(thi8 Yeport. Oth¢r infoTmaliD The tnjsiees are respDnsible for the other infonnalion. The other iofonnation tompTl8es the infornjation included in the a[al PD[L other than the financial statements pnd OUT ttudiior's rctKJrt thercon. Our opinion ort the fmam¢ia] statets drts noi coverthe oth¢r infoEnJalion an¢ exc¢ptto thEextentothErwisc cxplicit]y %td in our rep)rt. (h nol ¢xwcs5 gny fomi of assurni¢¢ cotKlusion thereott. In conn¢ction with our audit ofthe fitWLcial s1at¢m¢nts, OUT T¢Spon$ibility is to read th¢ oth¢r intotmation an in &Jing so, con5idet whether the other information is matrrially in¢on5iStertt witb tht flnanci statements or our knowledge obtsined in the audit or oth¢M be mat¢rially JDi55tated. If ideniify th terial iDwttsistencies or aPp3t ]natC[i m15at¢n, we aye requiyed ty) det¢rmine whether there is a rna¢eri3J Ilhi55tsteffjeni ill the fJnan¢i8J statements or a maitTi41 mi55ts1e]DEnl orth¢ oiher infortnatioll. If, b&*d on the work. hav¢ rfOrnd. we con¢lThJe that there is a rLatrri&l missi¥tthtrJht of thi8 other ithntL&tior4 * are required to repjrtthat fxL Page 7
Benendell Alnhshouse Charities Independent A•ditor's Report to the Members ofBenenden Altllshouse Charities (continued) W¢ knve nothing 10 tbis yeg8r Matters v•hl¢h we ar¢ re4ylr¢d to report by exttptio]I In the light ol. OUT knowl¢d8e aNI un(kTStandiThg of the charity and its erwiroThment obtsined in the coutse of 8udii have not idcntifitd n)at¢rial mtamtcments ift the TnLtyC¢S' Retth. We hav¢ rth)thing Lo r¢wkrt in r¢sF¢ct of tk folbwwg nJalt¢T5 Wh¢ Chariti¢s (Awunts aud Rwrtl Regulations 2008 r¢quiTes us tore[ lo you if. ITh ow opinion.. adequat¢ a¢cowiting CordS hav¢ not tc¢n k¢pL QT remrns 3d¢quate for our audit Iwv¢ bt¢n retriv fTom brah¢S not Vi51t¢d by u5: or th¢ ful31a1 51atetnents are in a8TcemEnl with thE accounlitLg re¢ord5Hnd rekn: or tertain dis¢logJre5 of Ttmuncratlon spectfjed by law atr t)ot mad¢'. or have not rcccivcd all t infornmtion zajd explanation5 WC Tcquire for ow audit Re5ponsthiliti¢J of trus¢¢cs As explained MOJY fully in the Slatemeni of TJu8teel Resp)nsibilities (sei out on page 61 the t1vetS aT¢ reswllsible for the preparation of the financial statements attd for being satisfLed that they give a tnEe and fair view. Jd for sllch ittmAJ cfjtttrol as the tn¢8 (kknitte is Thccess to enable the pTeparntion of fin¢1 ststements that are free frotn tnaterial rnithat<mE whdher duE to fraud orctrtsr. Irt 5)ryillE the financial statement& thc trusttts are respothsiblc for &sSIng tht thIty'S ability to coniirtlt as goÉng concery disclos1t Ls applicabl4 matteJ¥ lated to Eoing concern and USiDg the Eoillg ceocem b&818 of accowJtKng unk55 try eith int¢nd to liquidat¢ th¢ rh8rity or to c¢w op¢ratron or have no IL]$1]¢ alt¢rnativ¢ but to (k) 50. Audttor Respoll5ibilitie5 f•rthe 4udtt of th¢ fin¢1•1 8ttemeDts Our objectives arc obtain ItOnabl¢ a8sur8t atrA)Ut the financial starcmcnts a whok art ftec from t¢rial mi551at¢To¢ll¢ WhEth to fiHud or ¢TfoT, tQ is5 au auditQl'5 Irp)rt thit itlU3 our QPLtIio Rcasonabk aS5UTancc i5 4 high l¢v¢l of a55uronff. but l5 not a gugrnt¢¢ Ihat gn 4udi¢ conduo¢d in accorda[¢ ESAS (UK) will d¢t¢cl a tnateftiai mistatem¢N when it exists. ltateMEnts con arlse from fraud or ermr Jd arc considered roateriaj if. iTrJividualty or in the aggr¢gate, they could reasonabty expecd to illthKnce th¢ ewnomic drcisions of laktn on thc basis financial slalemcnt* Trcxtent to which OurpredureS att capabk of d¢tectiftg irt¢gu]ariti¢4 includujg fraud 15 (ktwltd b¢low.' Ihe legal and 8latOry framewrt applicable to the entity tonsidered 1% part ofthe alldit platulit a risk as5¢5sment Wa5 ¢o]npl¢t¢d gJJd no of re highli8ht¢(L The audii tr4m retnained vigil1( for wten¢ial fraud and rrfm-C4)mpliance with laws and regulations throu the whDle audit process. Th¢ SUpIlb]IIty orth¢ rtLtit)e5 f%[wl stst¢m¢nts lo llth¢TiB] Thi55tatEmrnL ]ldI h)w fitsud mixbt oc¢urw&g built in lo thc auditplanned 4pproa¢h using a T4ng¢ of trChniqs. A fllrther description of our ]wthbillllcS is available ott Ik Financial RcJxFrtin£ Coullcil's wrbsitt at.. www.fr¢.org.ukl•uditot5tE5W)5lbIJi1]¥$. This desription foT]TJS Part of our au(btor'$ Teport. Page 8
BeDenden Almshouse Charities Indepelld¢Dt Audltorls Report to the Members of Benenden Alm$hou$e Charities {eontinued) Uit of our reporl Thi% Teport is made 501¢ly to lh¢ tharity trugtees, a5 a bodyt in crdance section 144 of th¢ Charitie5 Act 2011 and regulation5 rna¢k undcr section 154 of th8t Act. Our audit SYOTk hss been uttde]tsken so thai mighi slate to tb¢ trus¢s Ih)% matters ME are requid to lo trustees in an auditOTS' r¢p)rt and tor no other pvry)sc. To the fvll¢ extthi ptrnuttcd by law, do noi accepr OT 9S5U¢ 5ptisibj11ty to anyon¢ other thats tht charity and its truxee5 0$ abDdy, forour atyjil worK for this report, or fortlK Opinio havtt fo]yned. Mamingfvns I or Statutory Auditor) Forand on trKhalf of MomJingtoJJs, Stalutory Auditor Victoria Houst The Moor Havthhu Cl?brOOk Kent TN18 4NR Mamingtons L5 ¢li¥ible for appoiTrtm¢nt auditor of the charity by vkrtye of its eli8ibility Cor appoiLtmcnt Js audiiorof a company under sectiOL 1212 of th¢ Compani¢s A£t 21106. Page 9
Benendett Almshose Charlt(es Ststejnent of Fillanri¥l Aclivities for the Y¢*r Ended 31 December 2025 U•re$trided fuxdi Totsl 2025 Totil 2024 NotE IDcom¢ wnd Endwwments from: ciw1ble athiviues Invcstment income Oth¢r incom¢ 549.175 44.698 4.061 549.175 44,698 4.061 2.055.604 714 Toiai Incom¢ 597,934 597,934 1056.318 EipEnditure OD: ChaTitabl¢ activtti¢5 Other exp¢ndtture GovunaEKC C0515 (38.184) (38.1841 (26.860) (60.0421 iotsl Ex[La]lTt 41125 .787 88.791 14,918 1.787 Netmovunrnt in fimd5 557.596 557.596 1,982.445 Reconciliatlon of fvnds Total filllds bffought forwgrd Total fi$ carrtsed forvtard 2J94.181 l394,181 411.736 19 2,951777 2.951.777 2394.181 All of the ¢hasity's activities ¢krivr from conlinuing OP¢TalioDS dwing th¢ ab)v¢tWO F¢riod5. The fimts bTcakdDwn for2025 & 2024 L5 uj note 19. The tJ)t¢son ge$ 13 to 24 forni an intrgrai wtof the8¢ finla1 s(atem¢n Pdg¢ 10
BeDendeD A]DhoUSe Cbarities (Re2iStration Dumber: 232743) B4lDC¢ Sbe¢t as at 31 December 2025 2KS 2•24 Note Fixed as5tts T8]ble asscts lThveamB]Jts 13 14 IlJ92,928 104.724 316.726 lQ2,937 419,663 2.197.652 CuTreiit 15 16 1,617 765.462 1.941.874 44,958 .986.832 C&th ai bank wjd in hoJLd 767,079 1920) CrthorB: Amollnts falliD¥ du wlthin one year 17 1,28 Net rymnt ustts 765,159 1.985.552 Total w8ets ltxs turrent Ilbhlhl 1962,811 11,034 1405,215 Provlslon 18 11.034 1394,181 N¢¢ k$8ts 2.951.777 nd5 •f tht *hxrlty: Unrtslri¢ttd iAcom¢ UnT¢slrictcd fu1$ 1951.777 1394,181 1394 181 Totll fwnds 19 2,951,777 Thc fincial Statements on page8 10 to 24 Npprnved by the Itr¢S autlM)rised for i&we on. their half by". HolllKs Chaimi8n ind bustte The on pages 13 10 24 fonn it87 part of the5E fJnvth¢ial s#at¢ments. Pa8ell
BenendeD Almsbouse Charities Ca5b Ststernent for tb¢ Yr Ended 31 Dttymber 2025 2025 2024 Cash flow5 fron operating xctivitl Net c&sh ittcome 1.966.813 AdjustsD¢Dts to flows frtym it¢m$ Dqjreciatio 2,Q63 1075 513.174 1.96&888 WorkSkng tapltsi kdjustmtllts Decreasel(inowe} in debtors IncreI(de¢reasel in crcdrtors Net cash flows from operating activities 15 17 1.940257 640 {I.940.221) (220) 1454.071 28,447 C45h IIoiY5 fTom Invutiug ¥rtiYili¢s Interest re¢eiv8ble and similar iJJ¢L)me Purch OftlbIe fLYed Oth¢r In¢ from rjxcd asKt itLV¢Stm¢nts 44.576 (1.7782651 597 134.192) 13 Net C&8h flows from invcsting a1VitieS {1,733,5671 133.478) iTeI{deCI ip ll] ¢LShequivttsl$ 720.5Q4 15.031) 49.989 Ca5b and ¢a5h¢quiva]¢rts at l January C&sh and cash ¢quivaltnts at 31 tkctmFtT 44.958 765.462 44.958 Ail of thccath tlows atc dcrivcd from contillViDg opcrthion5 duTing thc abov¢ Iwo F¢riod& The t¢S on pag¢s 13 to 24 forni an int¢g31 part of fj1aJ 5t31¢m. Pag¢ 12
BeDendell Almsbou8¢ Charities otes to tbe Finaneial StAtements for tb¢ Yer Ended 31 December 2025 l Att•untlng Pi¢lq ststement of CoP118 Th¢ finan¢i41 st&le]nents hav¢ bcen PTcpared in acctstdance wth th¢ second edition of the Charities Slat¢m¥nt of RecolMend Prnctice i&%d ill OctobEr 2019, tk FiTroth¢ial Ret18 Standard appliGablt inthe United Kingdom and Republic of Ireland IFRS IQ2) and thc Chariti¢5 2011. Basts of prepgTatio Benenden Ahnshou Charitr5 tn¢tts tht dcfthition of a blIc b¢n¢fit ejjtity uth FRS 102. Th¢ %wwits {fNJancial stst¢m¢ntsl have been prewed utLd¢r th¢ hivricai Cost ¢onv¢ntion with it¢& ¢0£Ised al cost or tTsJ]sJ¢tion Val wil¢ss otheM stad in the r¢lev8mt nol¢l51 to dse accouots. Going ¢onttYn The ¢ruste¢s have assessed th¢ ¢hariry's ability to *% a going con¢¢rn for 4 Ptiiod of at tsvclve month5 from tk dat¢ of approval of these fmancial stst¢mrnts. Thts sessment has taken account the charity's rujattciai positiorn flow4 reserw atld lh¢ corDrnitmaJts &SSO¢jated the Fwffec Fields development During th¢ y, th¢ ¢haTity r(%xived £495,000 of th¢ £660.000 grgjrt award¢d by Homes Eftgknd towwds th¢ constrnctiO¥L (kf 12 new almsho$. Th¢ Main1ng £163.000 i% £ontractua]ly due Lin Prarti¢8] Ctimpletiot4 is xpethed March 2026. Th¢ UWt¢es are satisfjed that th¢ Conditions for r¢¢¢ip¢ of thE fmai tranthe will be mct within the scsSment F¢rio(L The charity's ush knlxntes at the year cnd 74ET¢ £765.462 &)d free res¢w were £765,159. These reserve5 are 5Utficieni me¢1 th temainÉng cOnStnon cost4 routine operating cxpenditure. 8md th¢ diarity'g Teserves policy quirenient lo hold fimds cquivèient ts) two years. nuini¢]wi¢¢ wntrihtions r¢fwbishm¢nt u>sts for two vat dwelliD8S. The trustees have a150 considcttd the risks a55ociatrd with the development progrornty in¢luding wtrntia] delay4 cost ovemms. and the tirning ofgrAtti receipts. Bas¢d on the ithformation availabl¢, lh2 contractual anwMentS in plllce, and tht charity's Strong liquidity Pjsiiiow the trustees do not consider Ihe8e risks to sigrLifi¢8nt thubt o the thaTity'S obi]ity to ntIM as a8(}18 ¢oncem Accordingly. the Irustees coDsithi that th¢ ¢harity has adequxtr ttSOUT¢CS to continu¢ in oper&10[ existencc forthe fweseeable fulure and hav¢ prept the s¢al¢nllts ott * going con¢¢rn hsis. Page 13
B¢neDd¢D AlmsbouJe Charitie Notes th the Flnatteial Ststtments for the Year Emded 31 December 2025 (continued) Judg¢ments Judgements and Key Sourc¢5 of E#imationUnctrtainty In prwing thes¢ fmanGig1 stat¢tn¢nt4 the trus¢ecs bav¢ Jna& jyd8cmEnl& tstimlltes and UMptiOnS that afftct the amots re¢0)8ed. Trs¢ judgements and ¢Minates are r¢viewe41 oll an ongoing bttsis and 8T¢ bd on histori¢al cxperienct and other relevant factors. Actual may differ from thcse estiThiaies. la} Capitalisation of thvclopmcnt CXF¢nditw¢ Thc ttr¢S ha &rG15rd jvdgcmEnt in d¢l¢rminirJ8 whith wsts associftted With the Feoffet Fields development should ¢apitslis¢d as t3ngibl¢ ffed oss¢& ODJY dCtlY Xttrilmrtable costs that enhallee the fiJbJr¢ ¢conothic nefit of thc have btcn c&pitalis¢(L Costs lat]Dg to fcasibility, Eov¢riiin(¢ OT g¢nmJ othministr8tion b8v¢ beenexwd &% incurred. (b) Rceognition of grgnt inwm¢ )ud8ement is Tequired in detemiinir¥ the point at wluch entitlement to Ihe Homes Ellglaod arisc& The tnjstees ¢onsidtr that EntLil¢nKnt ¢xists wh¢n th¢ conditious attarkd to trall¢he of [dIng are meL Ae¢ordin8ly. the first tranche wa5 Tccognixd on nll¢ll¢¢nt of d¢v¢loEOKrt rtmtiining trkttthe deferred until prkttical ¢ompldion. {c}Cl4ssification of fL Thc ttU5tCC3 hav¢ judged th81 all futsds ayc unycstrithd. Although certain amouThts ar¢ ¢arnarkrJ for firtur¢ r¢fib1$TllEtii WOtk& these rep8¢1 ituernai designations at>J do rM)t restria the le8a] w ofthe fund& Key ¥ources of ¢stimatio# uncertalTrty la) Depreciation of tawble fLYed assets Depreciatiort is ch8r8cd to WTitc dowm thc cost over thtir ¢Mimth ful livck The ¢¢onomi¢ liv¢s r¢sidual value5 are based on the trust¢es' Ixst estimates. tskitig into account the nature of the assets and ex(d pgtt¢rn5 of use. A¢tuaI outcotnes may differ, particularly in relation to Jmvly develoyxd a]mshouse PrOlC& Ib) Pttsvision lor fijture repairs a] maintrnan( The clwrity has C05nised a provision of £11,034 for anticipted fijttre works. The amowrt and litning of thest ost5 or¢ irthcrently W)¢¢iti ONJ ore bosedonprof¢ssional 8dvi¢¢ wd eX1¢tt. Actual costs may vary from thc c5timatCs Ud. 1¢> Valuation of imTesth Quoted invesbllej are stated at tarket va]w. val$ fluLtuatC Wlth rnk¢t conditions and may diff¢T from the Trts uJtinwly T¢OJis¢d. PNg¢ 14
B¢ll¢nden Almshouse Charitie4 Notes to th¢ Financial StstsmeDts for tbe Year Ended 31 Detember 2025 (continued) Jttcomt eDdowments Gr4lli l•cwm¢ (HomesEJ¥lfjn4) Grnlt incom¢ 1$ recolIsed ID the of FiDancig1 Activiti¢5 the charity has aJtitlcm¢nl pmbxble tel and th¢ amount carl be mts%urcd reliably, in with the p¢rf0mW r¢Jad (x)nditions t oul in Wher¢ grant iw)me is linkcd to 5PEcifJc ttulestones.. . amow4 rclatiThgto omnLetscement of developmc]rt )r¢ reeogDised wh¢n the rekvaot coJJdiuons have b¢¢n mc4 . Amouttts relating to PrtiCal Compl¢tion arc only the Prxlical Compktiorj criteria have b¢¢n i%fied. Gr8nt itKorn¢ th•t th)¢$ not meet1h¢s¢ lteria atthe Teporting date is d¢fwrcd R¥Jtsi incom¢ from almsho8¢ accOmmod#tn is rtcogniscd on basis Ès the seThicc is provided to r¢sid¢Ttt& Incomc rrtognKJ of void5 and any tent dUctiO% grant¢d in rdartee With the tharity's lities. Inveslmeni income i% re(Xy18¢d on a rx¢ivable basis. ChO&ble acti%Yli Inttsme from chaTilabl¢ #ctivitie8 includes incom¢ earned (as th¢ rElatEd go(xl$ orservices ar¢ pmvidedl der contract. Exp¢Ddltur¢ All expendi¢we is recognistrd ottcc th¢r¢ 1$ a le8al or toJJstrnctiv¢ oblig4tion to that expend]lu it L5 probabl settlement is required 8T the amouni be nKasur¢d r¢li&bly. All costs ar¢ alloced to thE applicable txp¢nditur¢ heading that aggrtgate similar costs to that cai¢gory. Wh£Te costs cannot be dirttily attribut¢d to pgrticular headings Ihey hav¢ b¢¥n allocated on a bagL5 Wtisjslent with th¢ use of resources with c¢ntral sthff costs ajlotatcd on the basis of time spiL dyreci&tion chaTges allocated on the wkrtion of (he et'S use. OdKr SUPTX>rt ¢oaS art 8]lotad based onth¢ 5prcadof stalY¢ost& CAwiiabledclhYlies Titablc exnditre compriscs th0* ¢05ts iDcunrd by th¢ Charity in d¢liv¢ry of its. tivitieS and services for its knrfitiaries. It in¢lud¥s bDth c0515 Ix allocatcd ditrrtly to such a¢tiviti¢5 ONI th0 costs of all illdirect a] nete&%ary to support th¢rrL Goveriance costs CJoverrt8nCe COMS iD¢lude costs of the preparalion and tX2minatioh of thE 5tstuknry ac¢ounL% the costs of knJstc¢ mlingS and thc costof any IcgJJ advice to tnS on governance orconstitutn&7 mw¢rs Page 15
BenendeD AIJD5bows¢ Charities Notss 10 th¢ Finan¢i41 Ststsm¢nts for tb¢ Ye4r Ended 31 Dv¢n)ber 2025 {eontiDued) T81?0 The tharity is consideredfo pas8t]K t¢5t5 Sct out in Paragraph I SdKdule 6 of thE Financ¢ A¢t 20LO thIroTe il me£ts th dtfinitiotk of a charitablt cr)wany lorUK coryx)Tation t&X PUTP)s AcrdIDgIy Ih Gharity ss Wbt¢ntiaily rnpt from twtion in SperI Df inLX)me or captt&l gains re¢ctved withtii cate8ori¢s Cover by Chapter 3 Pad I I of the Coryordtion Tax Acl 2010 Or Section 256 of the T&uiion of Chwble GaiJJs Act 1991 to the ethnt that such inci)mt or8aiJL% are applied (lusIVe1y to thgn¢abl¢ PpS. Tanglble fixed assets Jndividua] fjxcd asscts Cfjstillg (up until 2022 £1) or nme are initially ree4>Tded at cosL k55 any gJbs¢qu¢ accwtLulal¢d d¢w¢cialiots artd subsequent atoJmu12trd IMprn)ent losses. D¢pr¢¢ition and thtsrtlsado Depreciation is provided on langibl¢ fix¢d assets so as to WTit¢ off th¢ )51 or vaJualio4 les$ any estitDÈted residllal value. ovcr th¢tr¢xpectcd us¢fui tcoTh>mic lifr as fo]1 Awt tlss Depretl#tioTr method ratt Fjrrhold inierest in land and building5 2% Rcducing Bala[¢ Improve]nts ¢quiptwnl Strllig lllLf over 50 y¢ars latL&Buildin85 gt Wajkhurst Road No depre¢iaiion will br provi(kd until th¢ project h&% been complclcd Deptiation is not charged on the WaJkhuN Road altDStk)w¢ dEv¢lopmenl Imtil th¢ projwt PTadi Cotnpktion a[ propKrt1¢5 at¢ availablt for use. As tk additions in Ihe Ye relate to this developm¢nL ¢h¢ dePrlation clwg¢ for2025 is L¥ittesponditi8ly low. Fixed aM¢t investMts Fixed asset invesunenw oth¢r than programtnE related inv¢stm¢nts. aT¢ includ¢d at ]nark¢l v31tsB at the balanLe sheet date. iicalid 88in5 attd ]osses on inve5tsn¢nts arc cal¢ulat¢d as th¢ differ¢n¢e bctwt¢rb s¢5 Proceeds gnd tsiT ll)•Tket value ot thB 3tsrt of thE year, or their subseqllent ¢osL and at¢ charged or cr¢tht¢d to the Siat¢m¢th of Finanria] A¢tiviti¢$ trtthe period of disposal. Unrealised gains dI05¥S ps¢t thE nwv¢m¢nt in vaJu¢s dwing tk y¢yr atsd treditrd or ¢har8ed thc Stattment of Finan¢ial A¢tiviii¢s bgsed on the vabje at they¢areTrd. Csh md tash equlviltmt¥ Cpsh and cash tquivajcnts thmprise e&%h on hand and call 4kposio othcr short.lern highly liquid investDKnts that are adI]Y cotkv¢rtibl¢ to a known aDI of¢L4J alld arc 5ubjEct to an iD5ignificant Tisk of itl value. Pag¢ 16
Betteden Almshou3¢ Charitiei lo the Financial Stst¢Jllents for tbe Year Ended 31 Deeember 2025 (contiDu¢d) Provisions are when thtr charity h&s aprescnt IEgai or corh51rwtivE obligation as a $ll1t of a p&%tcv¢nL it is probable t s¢ttkmrDt will be required. and & lIablE e#imo can be made of th¢ 4mDWrt of the obligstion, iTh acwTdJ[e w'ith FRS 102 S¢¢tion 21. Prov1wo5 are ted at the besLtthimotr of the expcnditUTe T¢quir¢d to s¢¢de tr obligation the balvmc¢ sh¢ . taking into a¢couni professional advice Wb rel¢v3nt. Provision5 8Je nm di5CQUntd 0$ the effe£t of the time vrjuc of rt¢y is rrfrt materi tod fit)anciai 5t81¢Knt strWur• Urlltstricttd in¢omc fd$ OT¢ fjJt)ds that are JYaitNbl¢ for atthe tnjstees di$¢r¢tlon in fiLfther8oc¢ of th¢ obj¢)VE¥ of the chatity. 2 1nromE from tharit*bleArtiviti¢s UDr¢strided futhds G¢Jtr•l Totsl 2025 receivable 54,175 495.000 349.17J 54,175 495.000 549,175 Ullrc5trided ds Ctntral Total 2024 Rtni ¢tiVabl( 55,604 2.0(ID,OL)O 55,604 2,0(K),000 2 055.604 3 IDveJtwfflt iN¢omÈ Ilmsttte1l nds Gerntral Totsl 2025 Totsl 2024 JnteoA receivable and 5irniiaT J]ktrcst rcceivabl¢ on bank &posits OthLTincom¢ from fixed &sset irtyestrntnts 44,576 122 44,576 122 597 117 44.698 44.698 714 Pag¢ 17
BenendeD Aimjbouse Charities Not&s to the FlnAn¢ial Statements for the Year Ended 31 December 2025 (continued) 4 Olher incorne IYnrt$trirtd fuAds Geoenl Totsl 2025 Other bjcome 4.061 4.061 Oth¢r in¢fjm¢ ¢ompris¢s of r¢imhThnnfs from ¢oThtra¢tors£1.98l12024.. NÉI) andA1Mthu Conwrtiurn £2.079 Q024.. Nill. S Exp¢ndltur¢ on charbkn Atllvffttits lJnrestrtct¢d fvnd$ GeDtr*] TotAI 2025 Ttstsl 2024 F.mploymcBt costs Other direct Costs InChing kgaj IT Ff($S1oDl E5thblishrnenl £os15 Rtpatrs and maintcnaJKe D¢preciiitoD of tangible fJx¢d ets 7.49) 1217 8,645 18.769 2.063 7.490 1,217 8,645 18.769 2,063 3.714 1,076 4.483 15,512 2,075 38.184 38.184 26,860 Page 18
B¢Dtnden Almshouje Chrities Notcs to the Financial Ststements for the Yr Ended 31 December 2025 (continued) 6 Other pendItur¥ Total 2025 Tot1 21ll4 1£88] fres 60,042 60,042 7 Analysis of verte s•1)rt ¢osts Governince tosts Unrestrl¢trd funds GtD¢rul Totsl 2025 Tot#1 21ll4 Audit fe¢5 Audit of the flnanciai statenDt5 Aliocatrd supwrt C051s 2,470 1.471 2.470 1,471 3.941 1,250 639 3.941 IDtominWouWiDg resourt illf0miDg rwurces for the y¢ar 1$ #&ed aftu chargiThg'. 2025 2024 Ikprecialion of fixcd 2.063 9 Irv5tees reMtratIon tXPeDI Th¢ tnL8tees received no T¢rnuneration for thcir 5crvi¢¢5 duTing the ye4r (2024.. £nil). No trustee received gjjy ben¢fits in kind ld rn rnL*e was 1]nbd forexyr5 (2024.. £rtil). P4e 19
Benenden Almshou Charities Notss to the Finaneial Ststemtnts for the Year Ellded 31 Ikcember 2025 (ntInued) 10 Stsff tosts The oggrego pa01[ tosts follows.. 2025 21124 S¢•ff ¢05ts duriDg ihe Yrtr¢. W2Bes 2nd salaTies 7.491 3.715 Key m4nagement persound Key mattagenth personnel aT¢ by thE th¢ IT1Vidual$ having au¢hority and resnSibilIty for p1attnll. d]'tttin8 Controlling the activiiies of the chartry. For Ilencndctl AJmshousK Chlties. this comprises the tsY8tee8 and the Clerk No employ¢e rt¢¢iv¢d t1llents of morr than £60.(Kh) rIng the year12024- £nil}. IknAti8 the yearthe charity made the followiDg trd[L5actS wlth key ttxnag¢m¢lll p¢rsonn¢l.. Cltrk The Cl¢rk re¢eivtd reMUratiOn of £7.490 {2024.. £3.714) Employ¢f5 NIC 2025.. £NJU 2024: £NL Totsj key mawement per1)ne] 2025.. £7.490. 2024.. £3.714 11 AuditQTS' 1llelIvD 2125 2024 Audit of tlK fin&ncial 2.470 1.250 J2 Txatlon No tsx Wds chargcd thE y¢aT {2024- £TJiI}. Po8¢ 20
B¢neDdeD A]mshouse Charities Note5 to the FI¢181 StAteJMents for Ibe Y¢ar EDded 31 December 2025 (continued) J3 Tantlblt fixtd as8ets dawd buildinp Totsl Cost At l Jfjnu 2025 AddttiOJJS 36622 .778,265 366,220 1,778,265 At31 D¢Mr 2025 2.144.485 2,144 485 Dtpretlgtion At l Jpjjuary 2025 Ch8rg¢ forrf y¢aJ At 31 De¢emkn 2025 49,494 1063 49,494 1063 51.557 51.557 N¢t book¥AIuè At 31 Dec¢mt¢r 2025 092 928 2,092,928 At 31 De¢emtrKr 2024 316,726 lrteluded within the n¢t book value of land and building5 0ve is £2.Q92.928 12Q24 - £316.726) in T¢spect of fr¢rJ¥)Id land and buildings and £Nii {2024- £Nil) inT¢bFC¢tof l¢tholds. Th¢ i1¢8£¢ in tangible fixed assets during the ycar relatcs lo th¢ construdion of the new a]mthou5es at Walkhurst Road. la accordanc¢ with the ¢hariN's accoling pDIicy? no deptl$tiOn 15 chargcd on the5f &88ets utttil Practical Compl¢tiOrt. As a r¢su]L tht depreciation Ch for th¢ Y (£2,063} reflects only th¢ dw¢¢ithion on ¢xi#in8 Operation prDPtrties and equipmcni. Pag¢ 21
BeDendell Almsholl8e Charities Not¢¥ to the Finatttial Sttements for the Yer Ettded 31 December 2025 (eolltilllled) 14 Fixed iBvutmt•ts 2025 2024 Othcrli5trd inveS¢mc5 101,937 Oth¢rlovtstments Li51td InvestmeDts Tot c•storVallt1titt At l Jary 2025 Revaluation 102,937 1,787 102,937 1.787 At 31 Decem1 2025 104.724 104.724 Net book value At 31 Ik¢¢mkr 2025 104.724 104.724 At 31 Ikcctnkr 2024 102.937 102.937 The histori¢81 st of lisled investments 31 De¢¢mber 2025 £35.15512024- £35.155). 15 Dbtots Z025 2024 Trade debtors PYepa)mKnts Oth¢r debtors 478 1.438 1,939.958 1,617 1,941.874 The prior ytar deknr balanc£ of £l:939.958 T¢laled to the contract¢d prodS from th¢ saJ¢ of land to Catth8Jn Homcs Ltd part of th¢ F¢offee Fields dcvelopm¢tLt 4gtttm¢nt. Tr amount was fully settled during th¢ y¢ar sulting iti the sigt)iriY re¢1 debw balance 31 E)¢ctmkr 2025. 1.617 16 Cask Dd tfish eqllivknts 2025 2024 C&%h at 765.462 44.958 Pag¢ 22
Benenden Almshouse Charities Notss to the Finallcial Ststem¢Dts for the Year Ended 31 Deeember 2025 (¢olltiDued) 17 CreditOTS: Amounts falling due within ytsr 202S 2024 1.280 18 Provi¥ions Oibtr provision Totsl At l 2fr25 11,034 At 31 Dec¢mb¢r 2025 11,034 11.034 Provision for bJtur¢ t]ical yepairs and maintenan(c 15 bad oth external decoration taking pl)rt ¢veYy thyee years d intmial rtpairs everyfive ytars or on the vacation ofawoperty. 19 hndi Bal¢¢ At 31 Ofher Rtsourees re¢ogni%d inded 8ainJlOoJxs) I JAnvary 2025 In¢omiDg resourr D¢tr 2fj2S Unrtstrlded fuDd5 GeKr41 General Fut 2.394,181 397,934 42,125 1.787 2,951.777 BaknD¢e al 31 Balan¢E wt l January 2024 Otbtr Resourcej r¢wgttlsed Dtttmber exptnded gAinsl{105seJ) Intttmkng res0re¢S 2024 UDTtstrlded filnds GTl G¢neral Fut 421.121 2.056,318 791 J.J33 1394 181 The stIfiC purposes for wbi¢h th¢ areto b? applied gJ¢ a5 follows: Dcsignated fur5 have been d¢signat¢d by the tr$ and coThsisr of Cycliul wair5 £7.218 (cx¢¢mai de¢ordiiOn raking plaw every 3 years) an¢J tht EmerEertcy repairs fund £3,816 {intwTrai repoirs every fLV¢ years or ort the vacation prop¢rfy). DesiBtMred fiJThds arc incjuded in Gertral fihnds. Pagc 23
BellendeD A]m$hou8e Charitie Notes (o the Financial Statements for the Year Ended 31 Dettmber 202S (totittued The cbarity held restrid¢d or¢ndowllKTht fid5 during y¢aT (2024.. non¢). All fth ate utjttstritted 20 AD¥tysts of net Assets between fundi UnT¢5tri¢t¢d Totsl fuDdy it 31 Derember 2025 GeDtrl Tangible fixed LE£ts Fixed iDV¢51m¢rds CvrreTht wets Cwr¢nt li?biiitses Provisions 2,092,928 104,724 767.079 11.920) {11,034) 1092,928 104,724 767.079 11.920) {lJ.034) 2,951,777 Toial t( &fs¢ts 1951,777 Unrtstricttd Ttstl fumds at 31 Dv¢mber 2024 GenerAI TaD8iblc fixcd 4ss¢ts Fix¢d wel iliVEsÉrnent5 Cunent Current lithibues Provisions 316,726 102,937 1,986,832 11,280) 11,034 2J94,181 316,726 102,937 1.986.832 11.280) 11,034 2,394.181 Totsl ]xet 21 AnAIysis of n¢t funds At31 Detember A¢ l J•u•ry Flttatttirtg eAsh 2025 2025 Ch at IADk aDd tn ld 44.958 720.504 765.462 Nei debl H,958 720,51)4 765,462 22 R¢lwt¢d party tra1159¢tioos wer¢ no relat pany tran105 in thE yw. Page 24