Doruswjn Envekjpe ID.. 82B6C523E6o46F404lCF47EccF72 Charlty numbèr.. 249039 THE 1959 GROUP OF CHARITIES REPORT OF THE TRUSTEES AND AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
DouJswJn Envelope ID.. 8286C929.3E8046WF4041CF47ECCF72 THE 1959 GROUP OF CHARITIES CONTENTS Page Reference and Admlnistrative Details of the CharÈty. its Trustees and Advisttrs Trustèes. Rèport Trustees. Responsibllities Statement Independent Auditors. Report on th• Flnan¢lal Statoments Consolidatèd SLitmèn of Finan¢lal A¢tlvitie$ 10-13 14 Con$olidated Balance Sheet 15 Charlty Balance Sheet Consolidated Statement of Cash Flows 16 17 Notes to the Financial Statèmènts 18-31
Docuspgn Enveljpe ID.. 8286C929-3E8(H659-BF4NICF47ECCF72 THE 1959 GROUP OF CHARITIES REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees P Chapman S Mayhew R A Montealh {resigned 31 March 20251 P Midgley L Ternplelon {appoinled 29 Apiil 2025) Charty r8gist8rèd numb•r 249039 Princlpal offlce 5 Brayford Square London E1 OSG Independent audltors MHA Chartered Accounlanls and StalutoryAudilor MHA House Charter Court Swansea Entefprise Park Swansea SA7 9FS Key Managgmont P¢rsonn•l Carollne Arkell Cherry Whileside Caroline Arkell Page 1
Do¢usvJn Eope ID.. B286C929-3E8o48F4o4lCF47EcCF72 THE 1959 GROUP OF CHARITIES TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Chairmans Foreword l extend my yin¢ere thanks lo our trustees. staff, volunteers and supporters for Ihoir unwavering commitment and contributions throughout the year. Their time, expertise and generosity continue lo drive our work forward and are instrumental to our collective achlevements. I would patticulady lik8 lo re¢ognise Christine Ansell, our new Chief Executive, and Carlie Arkell. our Chief Operating Officer. With a lean team outside our seasonal pop-up operations. their leadership, flexibility, and dedication have been exceptional in Sustaining our momentum and delivering meaningful outcomes. Flnally, to otjr bgneficlaries.. your strength and perseverance remain al the heart of our purpose. It is through your stories and progress that we are continually reminded of the value and impact of what we do. Together, we ltsok ahead with optimism and determination to continue makin9 a lasting differ$n¢e. Our objectives The Group's objects are lo promote the efficiency of member charities by facilitating the exchange of nformalkjn about matters of coinmon interest and encoLtraging voluntary work for mernber charities. Through the trading ¢omp8ny, the Charity had developed a netsvork of volunteers. These volunteers are provide(I with training lo ensure sales are maximised. The Trustees participate in a wide rango ol aciivilies in pursuing these objectives including constant contact with chaiilies. their associates. and partners lo achieve additional support for IheSr work. The Trustees confirm that they have referred lo the guidance cgntained in the Charity Commission's general guidance on public benefit when reviewing the Group's aims and objgctives both in the ygar undgi revlew and in planning future activrties. Our Mlsslon Al The 1959 Group of Charities, we remain steadfast in our mission to partner with and supp¢)rt charities throughout the UK providing promotion and royalty income lo each. We offer the most comprehensive range of cards and gifts lor all occasions wrthin the Nonprofil Sector. Our work directly supports the se¢ttsr. OUT partner harilies, and our community partners, often by locating our pop-us shops in their community spaces. This year, alongside the income generated through our website and seasonal pop-up shops, we proudly supported 112 communty projects rooted in libraries, museums, churches. and Tourist Infomialion Centres. By drawing visitors lo these imp)rtanl local spaces. we helped raise funds. increase volunteer involvement. and provlded inclusive opportunFties that address social isolatson. We also enhanced our dyilal engagement. extending our reach. enabling more people lo connect wilh our work online and via the distribution of newsletters. Together. these efforts are helping to build confidence, strengthen social skills, and foster meaningful friendships across diverse mMUnItIes. Page 2
Docuslgn Env¥lope10'. 8286C929.3E80465WBF4ts41CF47ECCF72 THE 1959 GROUP OF CHARITIES TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Key Achievements This year. we ale delighted to share the key mile51one5 we have reached.. Outreach We supported over 80 charities through ralsing awareness of thelr cause and much needed funds to assist with their service delivery. Expanded oui outreach efforts by opening 125 Christmas popup Shops across Great Britain. Fundraising Efforts Thanks to the generous support of our customers and donors, we raised £1.69m through the selling of respK)nsibly sourced cards and gifts. Employed 100 seasonal staff who raised awareness ol our charity partners anil mu¢h-needed funds lo assist with the delivery of crucial services. This yeai. our volunteers generously contributed over 9.700 hours of their time, playing a vrtal role in helping us deliver our chafilable objectives as a nol-for-profit organisalion. We thank them for their unwavering support. During the year 2024-2025. we £304,000 to be distributed lo both our charity partners and community projects. It is also worth noting that over Ihe past ten years w9 have raised some £20m for our partner chartlies and some £2.6m for local ¢ommunities_ Our aim going forward is lo grow this year on year. through our own diversification. Collaboratlons and Partnershlps We are pleasgd lo report ¢onlinued growth in our meaningful partnerships with national charities. and we were delighted to welcome RSPCA, Bowel Can¢8r UK, Water d, The Ramblers and Brain Tumour Research as linsed partners thts year. In addition. we have strengthened our relationships with local charities and COMVnity prolecls, enabling us to extend our reach and deepen our impact. Across Great Britain. we continue lo work closely with over 40 local ch8ri1ies and 120 community projects. supporting causes al the heart of their communities and amplifying our impact on a national scale. Pagg 3
Docusign Env8lop6 ID.. 8286CW294E804659-BF4041CF47ECCFT2 THE 1959 GROUP OF CHARITIES TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Industry Overview We are the largest card and gift retailer in the Nonprofit Seclor. However. we are not immune from the economic, societal and social issues that the commercial sector is facing. Our Industry Is In Iransilion, but we are Confident that we can ride these changas and dgvglop a growlng position.. The UK greeting card industry is currently navvJaling a period of significant change, shaped by evolving economic conditrons. consumer behaviour, and technological advances. Economic pressures, including inflation and rising living costs, have led consumers to priorilise essential spending, resulting in a modest decline in discretionary purchases such as greoling cards. While cards remain valued for special occasions, budgetknconsaous buyers arg incrgasinoly seeking affordable options or reducing purchase frequency. Digital innovation continues lo influence the market, with online platforms offering conveniènl allemalives. Nonetheless. physical retail is experienclng a resurgence as customers return to high street stores posl.pandemic, reflecting a balanced Preference between digital and in-pefSon shopping. Sustainability has bKome a key consKleralion for consumers, with growing awareness of environmental impact influencing purchasing decisions. In response, our procurement strategy priorilises UK suppliers with strong sustainability credentials lo align with market demand. Market diversification is also evident, with companies expanding beyond traditional greeting cards into broader celebration products and gifts. This multi-channel approach is expected lo become increasingly prevalent, and we will continue to expand our offering in this aroa. Finalty, ongoing political uncertainty and lorthcoming fiscal policies, in¢ludlng potential tax changes and regulatory shifts, may affect consumer confidence and organisation81 investment ¢Je¢ision. Operatlonal Development Over the past year we have been enhancirkg our'business model,, how we manage our resources and our offer to our customers- all with the aim of growing our customer base and from that our fundralsing contribution to our partnars. Leverage Dlgltal and Omnl<hannel Offer5.. Develop a robust online presence alongside physlcal seasonal locations, ulilising mobile-friendly platforms and partnerships with community venues to broaden customer reach. Expand Sustalnable Product Lines.. Increase eCfrIendlY oflerings. such as recycled and plantable cards and books. lo rneel growing consumer demand for environmentalty responsible products and attra¢l new demographics. Broaden our S¢asonalt¢y-. Transition towards an all-year product offering on our website lo reduce relian on the Christmas season and capluie broader market opportunities. Introduce and promote Everyday card spinners and offeiings via our community prqect partners. Enhance Soclal Medla Markètlng.. Strengthen presence on platforms like Inslagram and Facebook with high-qualily tent and promotions to boost brand vSsibillty and attract diverse customer segments. Innovate with Technology.. Incorporate trends such as QR codes linking lo personalised messages and directing customers lo our website.. creating interactive experiences that differentiate our products In the market. Page 4
DrKusn EnY8lop8 ID.. 8286C929-3E8fy4659-BF4041CF47ECCF72 THE 1959 GROUP OF CHARITIES TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Volunteer Development Our reliance on volunteers is paramount lo our work. This is a two-way reL21ionship. We are able to help them develop their contribution to society as well as learn new skills. We will strengthen our volunteer offer by introducing a more slruclured approach that suppotts recnjilment. development, and retention, ensuring a positive and purposeful experience for all involved. We are committed lo ensuring t17al volunteering with us 15 a rewarding experience, offtrring opportunities for personel growth. skills development, and meaningfvl social connections. Our structured approach aims not only to support our organisallonal goals bul also lo provide volunteers with a sense of purpose. achievement, and community belonging. Staff Feedback We are delighted lo share the results of our own staff and volunteer feedback.. 100% of staff completing the su¥vey said they received the rtghl level of support from their Regional Manager. 97% thought we had the right mix of cards and gifts. 97¥0 of our customers Comented on the cost of postage stamps. 92°A of staff engaged In suggesting new card designs and ranges. 88% of staff agreed the communications from HQ were effective. Challenges and Lessons Learned The past year was not wllhoul its challenges. The continued increase of the cost of postsge stamps. with a reduction of a reliable delivery service, the background of cost of living increases, and the difficLtIty in attracting sufficient volunteer and shop staff numbers have all directly impacted us. Dtrspile these, our resilience and commitment have allowed us to adapt and emerge stronger. Wè learned key lessons that will guide our futur plans, such as ¢Jeveloping our operational systems lo include ¢mproving warehouse supplier communi¢alK)n and service leve5 agreements. expanding our range of goods and our seasonality. and growing our national foolprinl. Page 5
DwusNJn Envelope ID.. 8286C9294E804659-BF4041CF47ECCF72 THE 1959 GROUP OF CHARITIES TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Looklng Ahead As we move into 2025-2026, we ale excited about the opportunities ahead. Our priorities include.. Expanding our year-rovnd offering. especially wilh the introduction of Everyd8y Card and gift wrap spinners. Diversrfying our funding streams lo ensure sustainability. Enhancing community and volurileer engagernenl lo deepen our impact and grow long term partnerships with Libraries. Churches and Museums. Developing volunteer opportunitles and build relationships with valued chanty and communtty-based partners. and with civic and membership-based organisations such as Rotary, U3A. Wl and Probus. whose members could actively support our work through volunteering, advocAcy. and community engagement. Improving the cost efficiency of the warehouse and fulfilmenl supplier services. Expanding the range of goods: cards and gifts. Continually aiming to sour¢e 8 range of qualoty. environmentally friendty, ethically sourced pYodu¢ts. Our cards and erbvelopes are recycl8ble, glitter-free and plastic free. INe will also ensure that our suppliers also have sustainable ¢redentials. Financial review During the year the charity received a total income of £1,749,704 12024 £1.942.3371. The majority of thi$ incorne arose from the trading subsidiary of £1.705.04712024 - £1,904.7821. Totsl expenditure for the year was £1.748.143 12024 £1,932,050) of which £1,725,82512024 - £1,911.0301 arose from the trading subsidiary. This left the Charity wsth a surplus of £1,567 (2024 - £10.287}. The charity had Ltnreslri¢ted reserves of £28,85412024 - £27.2931 of which £12.92812024- £12.7741 is held by non-controlling inleresls. Page 6
Docuslgn En¥elop8 ID.. e286c923E8046SBF4041CF47EcCFT2 THE 1959 GROUP OF CHARITIES TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Going concern The total Greetings Card Market is over £1.53 billion with greetings Gards being one of the top 5 items purchased by families in Great Britain. The market has grown 20A since last ye8r. In additional Ihefe continues lo b& a push lo support charities and invest in local communities. To adapt to changes in the extemal market, the subsidiary Is Investing in various ways lo ensure our cards reach more families and has diversified the pr¢xlucl offering to help ensure we can dellvef On the core objectives of the Charity. The Cards for Good Causes Brand and the total Christmas Card market remains stable. allowing the Group lo expand into new avenues. As al the 31 March 2025. the Charlty has nel current assets of £43.277. and the Truslees believe that with the CL*rrenl levels of trading and arrangements in place with creditor's. the Charity contsnijes to be a going concein and the firlancial statements have beeft prepared on this basis. The Trustees have assessed the future cashflows. giving dije consideration lo all relevant factors affecting the Group. They have considered potential impacts Dn the Group as well as its ¢apital resources and believe that the Group has adoquate resources in place lo continue in operation for al least twelve months from the date of approval of the financial statements. Consequently. the Group continuès to adopt the going concem basis In preparing these financial statements. Public Benefit The charlS trustees can confirm that they have complied with the duly in Sectlon 17 of the Charllies Act 2011 lo have due regard lo public benefit by the Commission. Thg chaiitablg objectives ol1ed, and the activitie$ of the charity demonstrate public benefrt. Rlsk management In compliance with Ihe SORP, the major risks to which the charity is exposed, as identified by trustees, have been reviewed and systems have been established lo manage those risks. These are reviewed al the quarterly board meetings. Recruitment and appointment of trustees New trustees are appolnled following a process of advertising thiough relevant medla, and compiling details of potential individuals through recommendab'ons by the charivs m8mbership team. New Iruslees. following an interviow process by the board, must be appointed by the existing board of trustees. Induction and trainlng of new trustees New Injslees are introduced lo the board of Iruslees and the role and ils requirements, and are provided with training regarding a Iruslee's responsibilities, and to gain an understanding of operating a charty. Page 7
Do(SIgn Envelope ID." 8286cg23E604G598F404lCF47EccF72 THE 1959 GROUP OF CHARITIES TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Key management remuneration K8y management r6muneralion FS based on a fixed, market rale salary. Remuneration levels are delemiined and reviewed by the trustees. Perfomianc&ryrelaled bonuses are not used as part of the remuneration packages. Reserves policy The 7959 Group of Charities is committed to maintaining financial sustsinability to support our eharilable activities and ensure long-lerm stability. As a small charity currently without reserves, our priority is lo establish and build an appropriate level of unreslricled res&rves over time. These reserves will act as a financial safeguard, enabling us to.. Manage unforeseen financial challenges or shorifalls. Ensure the ¢onlinuity of our business delivery in case of unexpected events. Invest in opFKJrtunities that support our mission 8nd long-lemi growth. Our target is to build reserves equivalent lo three months of operating expenditure wthin the next five years. This 18rgel will be reviewed annually in light of financial performance, operational needs, 8nd external circumstances. To achieve this. we will.. Allocate a portion of any surplus income lo reserves al the end of &ach financial ygar. Actively seek funding opportunities lo strengthen our flnancial pos1110n. Monitor our reserves level through gUlar financial reportirg lo ensure progress towards our largel. This policy will be reviewed annually by the Trvslees to ensure il iemains appropriate and aligned with our organisational goals. Rewappointment of auditor The Auditors MHA will be proposed for re•appointmgnt al the forthcoming AGM. Approved by order of the members of the board of Trustees and signed on their behalf by.. Patrick Chapman Dale.. November 10. 2025 Page 8
Dowswan Envelope ID.. 8286C929-3E8W59-8F4041CF47ECCF72 THE 1959 GROVP OF CHARITIES STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The Trustees are responsible for preparing Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Gènerally Accepted Accountsng Pra¢tico1- The law applicable lo charities in England & Wales requires the Trustees to prepare financial statamenls for each flnancial whlch give a true and fair view of the state of affairs of the Group and the Charity and of their incoming resources and applicab'on of resources, including their InMe and expenditure, for that period. In preparing these financial statements, the Trustees are required lo.. select suitable accounting policies and then apply them consistently, obseNe the methods and principles of tho Charibes SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent,. slal6 whether applicable UK Accounting Standards {FRS 1021 have been followed. subject to any material departures disclosed and explained in the financial stalemenls: prepare tho financial stslemenls on the going concem basis unless il is inappropriate to presume that the Group will continue in business. The Trusteès are responsible for keeping adequate accounting rewrds that are sufficient to show and explain the Group and the Charitys transadions and disclose wllh r8asonable accuracy at any time the financial position of the Group and the Charity and enable them lo ensure that the financial slalements comply with the Charitigs Ad 2011. the Charfty {Ac¢ounts and Reportsl Regulations 2008 and the PTOV15ions of the Tnjst deed. Thgy ale also responsible for safeguarding the assets of the GTOUP and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Disclosure of information to auditors Each of the persons who are Truslees at the lime when this Trustees, Report is approved has confirmed Ihal.. so fai as that Trusl¢e is aware, there is no relevant audit infrnatIon of which the charitable gTOUP'S auditors are UfiaWa, 8nd that Trustee has taken 811 the steps that ought to have been tsken as a Trustee in older lo be aware of any relevant audit information and lo establish that the charitable group's auditors ale awarè of that infomalion. Approved by ordeT of the members of the board of TrL¢Stg0s and signed on its behalf by.. Patrick Chapman Date.. November 10, 2025 Page 9
OV51g Erwebpe ID.. 6286C929-3E804659-BF¢Lk41CF47ECCF72 THE 1959 GROUP OF CHARITIES INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF THE 1959 GROUP OF CHARITIES Opinion We have audited the financial slalemenls of The 1959 Groijp of Charfties Ilhe 'parenl chariV} and its subsidiaries Ilhe group,) for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related nolgs, including a summary ol significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland, (United Kingdom Generally Accepted Accounting Practice). The financial statem&nts have been prepared in accordance wlth Accounting and Reporting by Charities preparing their accoun15 in accordance ¥Mlh the Financial Reporting Standards applicable in the UK and Republlc of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 )ri2 2005 which is referred lo in the exiant regulations bul has been withdrawn. This has been done in order for the accounts to provide a true and fair vlew Sn accordance with the Generally Accepted Accounting Practice effective for repoithng periods beginning on or after 1 January 2015. In ouf opinion the financlal statements= give a true and lair view of the slate of the Group's and of the parent charivs affalrs as at 31 Maich 2025 and of the Group's incoming resources and application of resources. including its income and expenditure for the year then ended- have been properly prepared in aceordance with Unrted Kingdom Generally Accepted Accotjnling Practice,. and have been prepared in accA>rdan¢e with the requirernents of the Charities Acl 2011. Basls for oplnlon We ¢onductsd our audit in accordance with Intemational Slandaids on Audiung (UK} {ISAs IUKII 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 Group in accordance with the ethical requirements that are relevant lo our audit of the financial sialemenls in the United Kingdom, including the Financial Reporting Council's Ethical Standard. and we have fulfilled our olhor ethical responsibilities in accordance with these requirements. Vve believe that tho audit evidence we have obtained is $uffi¢ienl 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 ¢on¢em basis of a¢ntIng In the preparation of the financial statements is appropriate. Based on the work we have perfomied, wg have not identified any material un¢ertainlie5 relating lo events or condib'ons that, individually or collectively, may cast significant doubl on the Group's or the parent eharills ability to continue as a going concern for a period of al least efve months from ¥Nhen the fi'nancial statements are aulhorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going conrn are descrSbed in the levant sections of this report. Page 10
DOcu5n Envek)pe ID.. 8286c929.3E8046WF41CF47EccF72 THE 1959 GROUP OF CHARITIES INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE 1959 GROUP OF CHARITIES {CONTINUEDI othèr Informatlon The olhw informalion comprises the Information included in the Annual Report other than the financial statements and our Auditors. Report Ihereon. The Trustees are responsible for the other information ¢onlained within the AnnL*al Report. Our opinion on the financial slaloments does not cover the other informatson and, except lo the extent otherwise explicitly stsl¢d in our report, we do not exp$$ any fom of assurance conclusion thereon. Our responsibility is to read Ilie other infomation ar)d, in doing so, Consider whether the other information is materially in¢onsislent with the financial stslemenls or our knowledge obtsined in the course of the audS1, or otherwise appears to be malerialty misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to detemiine whether this 9ives rise lo a material misslalemenl in the financial slalements themselves. If, based on the work we have performed, we conclude that there is a materral mi5Stalement of this olhgr information, we arg required to report that fad. We have nothing to report in this regard. Matters on whlch wo aro roqulr•d to roport by exception We have nothing to port in respect of the lollowng matters where the Charities (Accounts and Reports) Regulations 2008 reqLJiies us to report lo you if. in our opinion.. the information given the Trustees. Report is Inconsistent in any matsrial respect vlth the financial stalemenls.. or the parent Charty has not kept sufficient accounting records.. or the parent Charity financial statements are not in agroem$nl with the accounting rewds and retums- or we have not received all the infomiation and explanations wè require for our audit. R¢$pon$lbllltl¢s of tru$te¢$ As explained more fvlly in the Trusl8es' Responsibilities Statement. the TNslees aTe responsible for the preparation of the financial slalemenls which give a true and fair view, for such internal control as the Trustees determine is necessary lo enable the preparation of financial statements that are free from mateiial misstalernenl, whether due to fraud or error. In preparing the financial slalements, the Trustees are responsiblo for assessing the Group's and the parent charitls ability lo continue as a going concern, disclosing, as applicable, matters related to going conrn and using the going concern basis of accounting unless the Trustees eFther intend lo liquidate the Group or th8 parent chartty or lo cease operations. or have no realistic alternative bul to do so. Page 11
Do¢uswJn Enydope ID.. 8286C9294E804659.BF4041CF47ECCF72 THE 1959 GROUP OF CHARITIES INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE 1959 GROUP OF CHARITIES (CONTINUED) Auditors. responsibilities for the audit of the financial statements We have been appointed as auditor under section 151 of the Charities Act 2011 and report In a¢Idance with the Act and relevant iegulalions made or having effect Ihereunder. Our objectives are to obtain reasonable assurance about whether the financial ststements as a whole are ffee from material misstatement, whether dLJe to fraud or error, and lo issue an Auditors. Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordan with ISAS (UK) will always delecl a rnalerial misstalemenl when it exists. Misstatements can arise from fraud or ertor 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 slatemenls. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our resF)onsibilits'es, outlined above. to delect material misslalements in respect of irregularities, including Iraud. The exlenl lo which our pfocedures are capable of detecting irregularities, including fraud is detailed below.. Enquiry of management and those char9ed with governance around actual, potential or suspected liligab'on claims, non-compliance with applicable laws and regul81ions, and fraud. Review of legal and professional fees for evidfjnce of legal work undertaken or fineslpenallies incurred. Reviewing financial statements disclosures and lesling lo supporttng documentation to assess compliance with applicable laws and regulakn'ons. Performing audit work over the risk of management override. including testing of joumal entries and other adjustments for appropriateness. Evaluating the business rationale of significant transactions outside the normal course of business,. and An assessment of the methodologies used in order to Calculate th8 eslimatelprovision al the year end for evidence of bias. The accounting policy was ¢he¢ked to the financial reporting standards where necessary and conflrmed lo be appropriate. Evaluating the business rationale of signtficant Iransadions outside the normal coue of busines5, and reviewng accounting estimates for bias. Discussions amongst the engagement team in relatson lo how and where fraud mlghl ocuJr in the financial statements and any potential Indlcalors of fraud. Discussions with management ovgi any potential or suspected fraLKI. Performing audit work over the recognition of revenue on delivgries of g¢)odslincomelservices occurrirrfJ at the year end to provide assurance over cut-off. Performirig subslanlive tests of detail over the complelenesslexislence of income within financial system. Performing substantive analytical review procedures reconciling expected income from corroborating ewden¢e to that which had been iecorded in the financial statements to ensure that income was complete. Because of the inherent limitstions of an audtt, there Is a risk that we wll not detect all irregularilies, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that eompliance ¥Mth a law or regulation is r8moved from the events arld transactions reflected in the financial stalemenls, as we wll be less Ilkely lo become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error. as fraud Involves intentional con¢ealmenl, forgery. ¢ollu5ion. omission or misrepresentation. A further description of our responsibilities for the audit of the financial slalemenls is located on the Financial Reporting Council's website al.. -fr .ukJaudilorsres onsibililies. This description forms part of OLtr Auditors. Report. Page 12
Docusiqn ID.. 8286Cg294E8o468F4041cF47EccF72 THE 1959 GROUP OF CHARITIES INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF THE 1959 GROUP OF CHARITIES (CONTINUED) Use ofour report This report is made solely to the charitys IDJslees. as a body. in accordance with Part 4 of the Charitie5 {Accounls and Reports) Regulations 2008. Our audlt work has been undertaken so that we might slate to the charitys trustees those matters we are reqUId lo 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 lo anyone other than th& charity and its Irusloes, as a body. for Dr audit work, for this report. or for the opinions we have fomied. MHA Slalulory Auditor Swansea United Klngdom Dale.. /{). 11. 9 MHA is the trading name of MHA Audit Se*vi¢es LLP, a limited liability partnership in England and Wales Ire9lStered number OC4555421. MHA are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. Page 13
Docusn Envelope ID.. 8286C¥29-3É804659-BF4041CF47ECCF72 THE 1959 GROUP OF CHARITIES CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unrfjstrlctod funds 2025 Total fund$ 2025 Total lunds 2024 Note Income Irom: Donations and legacies Other trading activities Inveslm&nts 41,994 1.705.047 2.663 41.994 1.705.047 2.663 35,698 1,904, 782 1.857 Total income 1.749,704 1.749.704 1.942,337 Expenditure on: Raising funds Charitable activib'es 1.725.825 22.318 1.725.825 22,318 1.911,030 21.020 Total expondltur 1,748,143 1,748,143 1,932.050 Net movement in funds 1.561 1.561 10.287 Reconclliatlon of funds.. Total funds brought f¢yward Nel income attributable to the parent charty 27,293 1.407 27,293 1.407 IT.006 4.645 28.700 154 28,700 154 21,651 5.642 Nel Income attributable lo non-controlling interests Total funds carried forward 28,854 28.854 27,293 Page 14
DotrJ*gn Envelope ID.. 8286C929-3E604659-BF41HICF47ECCF72 THE 19S9 GROUP OF CHARITIES CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025 2025 2025 2024 2024 Not FIx8d assgts Tanglble assets 10 2,034 1.206 2.034 1.206 Current assets Stod(s 12 137,527 129,124 184,219 136,067 130,488 344. 129 Debtors 13 Cash at bank arKI in hand 450.870 610,684 Current liabilities Creditors.. amounts falling due within one year 14 {409.627} (558,901J Net curront assets 41.243 51,783 Total assèts less current liabilities 43,277 52.989 Creditors.. amounts falling due after more than one year 15 (14.4231 (25,696J Total net assets 28.854 27,293 Charftyfund$ Unreslricled funds 16 28.854 27,293 Total funds 28,854 27.293 The financial statements were approved and 8uthorised for issue by the Trustees and signed on their behalf by.. Patrick Chapman Date.. November 10, 2025 The notes on pages 18 to 31 form part of these financial statements. P8ge 15
DogAgn Envek)pe10'. 8286C823EeO465g-BF4(HIcF47EccF72 THE 1959 GROUP OF CHARITIES CHARITY BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Fixed assets Investments Currentassèts Deblors Cash at bank and in hand 13 5,507 122.526 288.973 128,033 288.973 Current Ilabllltles Creditors: amounts falling due wlhin one year 14 {125.194) {287,228) Net current assets 2.839 1.745 Total assats lass currant liabllltl¢s 2.840 1,746 Net assets ex¢ludlng pension asset 2,840 1,746 Total net assets 2.840 1, 746 Charlty funds Reslricled funds Unrestricted fvnds 16 16 2.840 1. 746 Total funds 2,840 1.746 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by. Patrick Chapman Dale.. November 10, 2025 The notes on pa9es 18 10 31 form part of thesg financi81 slalements. Page 16
Docusign Envelope ID.. 8286Cy29-3E8O4658F4lCF47EccF72 THE 1959 GROUP OF CHARITIES CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Note Cash flows from operatlng aetlvlltes Nel cash used in operating activitses 17 1149,3951 49,442 Cash flows from investing activities Dividends, interests and ren15 from investments Purchase of tangible fixed assets 2.663 {1.905) 1,857 Net cash provided by Inv8stlng actFvEiI•s 758 1,857 Cash flows from fSnan¢lng activities Repayment of bank loan {11,2731 {70,245) Ngt cash used in financing actlvltles 111.2731 110,2451 Change In cash and ¢ash tqulvalents In the year Cash and cash equivalents al the beginning of the yeai {159.9101 344,129 41,054 303,075 Cagh and cash equivalents at the end of the y•ar 18 184.219 344,129 The notes on pages 18 to 31 form part of these financi81 st8tem9nts Page 17
Dow5ign Envefope ID.. 8286C9294E8o46BF4lCF47EccF72 THE 1959 GROUP OF CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 General Infomiation The 1959 Group ot Charities is a registered charity number 249039. limited by guarantee. registertrd in England and Wales. Ae¢ounting policie5 2.1 Basis of preparation of financlal statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021- Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their a¢counts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 1021 (effective 1 January 20191, the Financial Reporting Standard appli¢abl8 in the UK and Republic of Ireland {FRS 1021 and the Chari11gs Act 2011. The presentation currency for the financial statements is the Pound Sleding l£l- Basis of Consolidalio The Consolidated Slalemenl of Financial ktivities ISOFAI and Consolidated Balance Sheet consolidate the financial slalements ot the Charity and ils subsidiary undertaking. The results of the subsidiary are consolidated on a line by line b8$1S. 2.2 Golng concern Sin¢e early 2020 the consequences of the COVID-19 outbreak followed by postal strikes have adversely affe¢led the demand lor the subsidiarls primary products. Therefore. its operating results have been negatively impacted. The subsidiary has made significant changes lo the way they operate. management strategy and operational costs since the start of 2022. As al the 31 March 2025 the charity has nel current assets of £43,277. Thè Trustees believe that. with Current levels of trading and arrangements in place wlh credilorfs, the charity continues to be a going concern ar¥d the financial slalements are wepared on this basis. The Tru51ees have assessed expected fulurg cashflows, giving due consideration lo all relevant factors affecting the group. They have ¢onsid&rgd potential impacts, on the group as well as its capital resources and believe that the group has adequate resource5 in place lo continue in operation for al least trelve months from the date of approval of the financial statements. Consèquenlly, the group continues to adopt the going concern basis in prep81ing these financial statements. 2.3 Income All income is recognised once the Charity has entltlement to the income. it is probable that the income will be received and the amount of income receivable can be measured reliably. Trading income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of th8 sgrvice. Page 18
DooJskJn En¥elLV ID.. 8288C929-3E8o465F4(l¢F47ECCFT2 THE 1959 GROUP OF CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Icontlnuedl 2.4 Expenditure Expenditure is recognised oR¢e there is a legal or conslructwe obligation to transfer economic benefit to a third p8ty, it Is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The eosls of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking oach activity. Diiect costs attributablg to a singla activity are allocated directly to that activity. Sharèd costs which ¢ontribule lo more than one activity and support costs which 8re not attributsble lo a singl8 a¢livlty are apportioned between those activities on a basis conslslenl w%lh the use of resourcès. Central staff costs are allocated on the basis of limo spent, and deprecialior) charges allocated on the portion of th8 asset's use. Expendilure on charitable ?clivilies is in¢urred on diredly undertaking the activities which further the Group's objectives, as well as any asso¢ialed support costs. 2.5 Interest re¢elvable Interest on funds held on deposit is included when receivable and the amount can be measLtred reliably by the Gioup., this is nomially upon nobfication of th8 interest paid or payabla by th8 institution with whom the funds are deposited. 2.6 Taxatlon The Charity is Considered to pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il meets the definition of a charitable company for UK corporation lax purposes. Accordingly. the Charity is potentially exempt from laxalion in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the exlenl that such income or gains are applied exclusively to charitable purposes. 2.7 Tangible fixed assets and depreciation Tangible fixed assets are initially cOgnised al ¢ost. After recognition. under the cost me1, tsngible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment Ioss8s. Al costs incurred lo bring a tangible fixed asset into its intended working condition should be included in the measLtromenl of cost. Depreciation is ¢harged so as to allo¢ale the Cost of tangible fixed assets less their restdual value over their eslimaled useful lives, using the slraighl-line method. Depreciation is pfovtded on the following basis.. Office equipment 20 /0 and 33.3% Straight line Page 19
DLtU5ign ErFvek)pe10.. 8286C929-JE8O4F404l¢F47EcCF72 THE 1959 GROUP OF CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policies (continued} 2.8 Investments Fixed asset investments are a form of financial instrument and are inibally recognised at their transaction cost and subsequently measured al fair value at the Balance Sheet dale, unless the value cannot be measured reliably in which case il is measured at cost less impaimenl. Investment gains and losses, whether realised or unrealised, are combined and prgsented 85 'GainsllLosses) on investments, in the Consolidated Sl8lement of Financial Activities. Investments in subsidiaries ar8 valued al cost less provlslon for Imp8irmenl. 2.9 Stocks Stocks are slated al the lower of Cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of pur¢hase on a first in. fi¥sl out basis. At each balance sheet dale, stocks are assessed for Impairment. If stock is impaired. the carrying amount is reduced to its selling price less costs lo complete and sell. The impaimenl loss is recognised immediately in profit or loss. 2.10 D•btors Trade and other debtors are iecognised at the selllement amount after any tradè (liscount off8red. Prepayments are valued al the amount prepaid net of any trade discounts due. 2.11 Ca$h at bank and in harkd Cash al bank and in hand Sndudes cash and short-temi highly liquid Investments with a short maluTlty of three months or less from the date of acquisition or openlng of the deposit or sSmilar account. 2.12 LiabSlltles and provlslons Liabilities are recognised when there Ss an obligation at the Balance Sheet dale as a result of a past event. il is probable that a transfer of gconomic benefit wlll be requlred in settlement. and the amount of the setNement can be estimated reliably. Liabilities are recognised al the amount that the Charity anticipates tt will pay lo settle the debt or th8 amwnl il has received as advanced payynents for the goods or services it must Provide. Provisions are measured al the best estimate of the amunts required to settie the obligation. Where the effect of the lime value of money is material. the provision is based on the present value of those amounts, discoLsnled at the pre-t8x dis1 Tale that reflects the risks specific to the liability. The unwinding of Ihe discount Is recognised in the Consolid8ted Ststemenl of Financial Activities as a finan cost. Page 20
DtKuspJn Envel(ye ID.. 82Q6C929-3E8L4659-BF4041CF47ECCF72 THE 1959 GROUP OF CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles {contlnuedl 2.13 Flnanclal Instruments The company has applied the provisions of Section 11 'Basic Financial Instruments. and Se¢tion 12 'OlheT Financial Instrument Issues. of FRS 102 to ils finanaal stalemenls. Financial instwmenls are classified and accounted for, according to the substance of the conlraclual arrangement. as either financial assets, financial liabilities, or equity inslrumenls. An eqLtity instrument Is any contract that evidencos a residual Interest In the assets of the MpanY after deducting all of its liabilities. 2.14 Penslons The company operates defined contribution and funded mulli-employer defined benefit pension hemes on behalf of certain employees. Contributions payable to the cc>mpany's pension schemes are charged to profil or loss in the period lo which they relate. 2.15 Fund accountSng General funds are unreslricled funds whi¢h arg available for use at the discretion of the Trusle&s in furtherance of the general objectives of the Group and which have not been designatsd for other purposes. Reslricled funds are fijnds which are lo be used in accordance with spoclfic reslrScllons imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and adminisle¥ing such funds are charged against the specific fund. The aim and use of each restricted fvnd is sel out in the note5 to the financial slalements. 2.16 Hollday pay accrual A liability is recognised lo the extenl of any unused holiday pay entitlement which is accrued at the Slalemenl of Financial Position date and carried forward lo future periods. This is rneasured at the undiscounted salary cost of future holiday entillemenl so acuued al the Statement of Financial aclivilies. 2.17 Crltlcal accountlng ludgements and key sources of estlmatlon uncertainty In the application of the companls accoLtnling poli¢ios. the direct(vs are requlred lo make jvdgemenls, eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumption5 are based on historical experience and other fadors that are consldered to be relevant. Actual results may differ from these eslimales. The estimates and undeflying assumptions are reviewed on an ongoing basis. Revlsions lo accounting estimates are recognised in the period in whiGh the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the ievision affects both current and fvlure periods. The aieas for which estimation has been applied are considered to be in calculating depreciation and provisions. Alhough these areas are subject lo judgement, they are not Coldered lo b8 subject to significant eslimalion. Page 27
Docu Env8lop8 ID.. 8286C929-3E804659-BF4041CF47ECCF72 THE 1959 GROUP OF CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Income from donatlons and legacles Unrestricted funds 2025 Total funds 2025 Donath)ns Gift Aid 32.934 9,060 32,934 9,060 41. 41.994 Unrestrictsd funds 2024 Total fvnds 2024 Donations 30.383 5.315 30,383 5,315 Gift Aid 35,698 35,698 Inv¢$tment income Unre5tr5cted funds 2025 Total funds 2025 Interest receivable 2,663 2,663 Unreslricled funds 2024 Total fvnds 2024 Interest receivable 1,857 1,857 Page 22
Docusign Envekjpe ID.. 8286c929-3E8046sBF4lHtCF47EccF72 THE 1959 GROUP OF CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysls of $xp*nditure by activitie5 Support costs 2025 Total fund$ 2025 Raising donations and legacies 22,318 22,318 Support costs 2024 Total funds 2024 Raising donations and legacies 21.020 21,020 Analysls of support costs Total funds 202S Actlvltles 2025 Audit and ac¢ounlan¢y fees 22,318 22,318 Total fund$ 2024 Adivities 2024 Audit and accountancy fees 21,020 21.020 Page 23
Docvwgn Envelwe ID.. 8286C9294E8W59-8F4041CF47ECCF72 THE 1959 GROUP OF CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Auditors. remuneration 202S 2024 Fees payable lo the Charitys auditor for the audit of the Charity's annual accounts 17.400 16.250 Fees payable to the Charitys auditor in respect of- Preparation of the consolidated a¢¢ounts 3,500 3,250 Staff cost$ Group 2025 Group 2024 Charlty 2025 Charity 2024 Wages and salaries Social secur(ty costs Contribution to definad contribution pension schemes 531,780 29,356 506,384 32.662 34.OlYJ 24,914 10,426 9.506 571,562 548,552 34.¢)00 24.914 The average number of persons employed by the Group during the year was as follows: The average number of persons employed by the Charty during the year was as follows.. Group 2025 Group 2024 Employees 32 31 The number of employoes whoso employee benefits (excluding employer pension costs) exceeded £60,000 was.. Group 2025 No. Group 2024 No. In the band £60,001- £70.000 Page 24
Docu8kJn Énvelop& ID.. 8288CW2w3E804658F4041¢F47EcCFT2 THE 1959 GROUP OF CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Trustses. Temunoratlon and expenses During the year, no Trustees received any remuneration or other benefits (2024 - £NILJ. During the year ended 31 March 2025. one Trustee was reimbursed £145 for expenses related to the running of the charity (2024 - £NILJ- Key managomènt personnel The lolal remuneration paid to ils key management personnel during the year was £137.879 12024: £114,774). 10. Tangible fixed assèts Group ulpment Cost or valuatlon Al 1 April 2024 Addilions 30,817 1.905 At 31 March 2025 32.722 Depreciation At 1 April 2024 Charge for the year 29.611 1,077 Al 31 March 2025 30.688 Net book value At 31 March 2025 2.034 At 31 March 2024 1,206 Page 25
DocusvJrs Erivelope10.. 8286C¥29-3E804659-BF404fCF47ECCF72 THE 1959 GROUP OF CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. Flxed assgt Inv8slments Inyestrnents in subsldlary ¢ompanles Charlty Cost or valuatlon At 1 Aprll 2024 Al 31 March 2025 Page 26
Oocuswn Envew ID.. 8286¢923E8(H65g-BF4O4$CF47EccF72 THE 1959 GROUP OF CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE Y&4R ENDED 31 MARCH 2025 12. Stocks Group 2025 Group 2024 Stocks 137,527 136,067 13. Dèbtors Group 202S Gmup 2024 Charlty 2025 Charity 2024 Due wlthln one yèar Trade dgbto Other debtors Prepayments 8nd accrued income 119,475 5.603 4,046 124.737 2.489 3.262 S,507 129.124 130,488 5.507 14. Creditors: Amounts falllng due wlthln ¢nè y¢ar Group 2025 Group 2024 Charity 2025 Charity 2024 Bank loans 10,000 144.644 10.000 207. 177 Trade cdItorS Amounts owed lo group undertakings Other taxation and social security Other creditors 125.194 287,228 139,055 115,928 226,215 115,509 409.627 558,907 125.194 28T.228 15. Credlt¢r$: Amounts falling due after more than one year Group 2025 Group 2024 Bank loans 14,423 25,896 Page 28
DocusvJn Envdope ID.. 8286C929-3E8W59-BF4041CF47ECCF72 ThE 1959 GROUP OF CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 16. Statement of lunds Statement of funds - current year Balance at 31 Mar¢h 2025 Balance at 1 April 2024 Transfers Inlout Ineom• Exp•nditur Unrestricted funds General Funds Non-controlling inl8rgst 14,519 12.774 1.749.704 {1.748.1431 11 $41 154 15,926 12,928 27,293 1,749,704 11,748,143) 28.854 Statement ol funds - prlor year Balance al 31 March 2024 Balance at l April 2023 Transfers in/out Inrne Expendrtur8 Unrestrlctod funds Gener81 Fund5 Non-conlrolling inteiesl 9,874 7, 132 1.942,337 (1,932,050) (5.642) 5.642 14,519 12,774 17,006 1,942,337 (1,932,050) 27,293 Pago 29
Docu5igTr Envelope ID.. 8286C92W3E8046594F4041CF47ECCFf2 THE 1959 GROUP OF CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 17. Re¢onciliation of net m0m¢nI In funds to net ¢ash flow from operatlng actlvltl•s Group 2025 Group 2024 Net income for the year las per Slalement of Flnanual Aclivillesl 1,561 10.287 Adjustments for: Depreciation charges Dividends, interests and rents from investments Decreasellincreasel in stocks Decreasellincreasel in debtors IncreaselldeGreasel in creditors 1,077 (2.6631 {1.4601 1.364 1149.2741 1,867 (1.857) 2,745 (78,584) 114,984 Ngt ¢ash provlded byl{used In) operatlng actlvltles 1149,3951 49.442 18. Analy$l$ Of ¢a$h and Cash equlvalents Group 2025 Group 2024 Cash in hand 184,219 344.129 Total cash and cash equivalents 1B4,219 344, 129 19. Analysis of changes in not debt At 1 April 2024 Cash flows At 31 March 2025 Cash al bank and in hand Debt due within 1 year Debt due after ? year 344,129 {10,0001 {25.696) {159.910} 184,219 (10,000) {14,4231 11.2n 308.433 1148,63n 159.796 Page 30
Do¢u*gn Envelope ID.. 8286C929-3E804659-BF4041CF47ECCF72 THE 1959 GROUP OF CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 20. Penslon ¢ommltments The gr¢)up operates a defined Contribution scheme with contributions paid in the accounllng period charged lo the profit and loss a¢count. The pension cost charge represents ¢onlribulions payable by the group to the fvnd and amounted lo £10.40612024- £9.5061- Deflned Benèfit Scheme The charity participates in th8 s¢h&m&, a multpemployer scheme which provides bgnefits to some 638 non-associated participating employers. The scheme is a defined benèfit schem& in the UK. 11 is not possible for the charity lo oblaln sufficient information to enable it to account for the scheme as a defined benofit scheme. Therefore il accounts for Ihe scheme as a defined contrlbulion scheme. The scheme is subject lo the funding legislation outlined in the Pensions Act 2004 which came into forcè on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council. set out the framework for funding defined benefit occupational pension schemes in the UK. The scheme is classified as a 'lasl-man stsnding arrangemènf. Therefore the charity is potentially liable for other participating employers, obligations if those employers are unable to meet their share of the 5¢heme deficit following withdrawal from the scheme. Participating employers are legally required lo meet their share of the scheme deficit on an annuity purehase basis on wthdrawal from the scheme. A full actuarial valuation for the scheme was carried out at 30 September 2023. The preserst value of the provision is £99112024: £4541. 21. Other commltm•nts Thg group has a commitment relating to the stock warehouse of £42,562 al year end. 22. Post balance sheet •v•nt The charity recelved a donation of £100.OOD from a Trust88 after the reportlng perlod. Page 31