CHARITY REGISTRATION NUMBER: 257130 League of Friends of the Princess Royal Hospital Unaudited Financial Statements 31 March 2025 PRB ACCOUNTANTS LLP Chartered accountants League of Friends of the Princess Royal Hospital Financial Statements Year ended 31 March 2025 Pages Trustees, annual report 1to3 Independent examinerfs report to the trustees Statement of financial activities Statement of financial position Statement of cash flows Notes to the financial statements 8t017 League of Friends of the Princess Royal Hospital Truslees. Annual Report Year ended 31 March 2025 The tNstees present their ￿t%)rt and the unaudited financial statements of the charity for the year ended 31 March 2025. Reference and admlnlstrdtlve details Reglstered charlty name League of Fr￿ndS of the Princess Royal Hospital Charity registration number 257130 Principal office The Princess Royal Hospital University Hospitals Sussex NHS Foundation Trust Lewes Road Haywards Heath West Sussex RH164EX The trustees Mrs M. Madden Mr A. Fox Mr M. Wesl-Eacott Ms N. Cook Mr M Lavelle Dr Lambert Mrs S. Harding Mr M. Temple-smith Dr M.C. Rogers Mrs M. Dorringlon Mr T. Dorrington P Goldfinch A. Suraway C. Foster Chairman Joint Chair Joint Chair (Resigned 30 April 2025) (Appointed 28 May 20251 (Appointed 28 M8y 2025) {ReS￿3￿ed 22 Juty 2024) {Resigned 22 Juty 2024) (Co Opted 10 March 20251 (Co Opted 10 March 2025) (Co Opted 31 July 20241 Company secretary Dr MC R¢)gers (resigned 22 Juty 2024} Independent ex•mlner Christopher ￿Tri￿ey-JoneS League of Friends of the Princess Royal Hospital Trustees. Annual RepOrt{t￿￿U•dj Year ended 31 March 2025 Structure, governance and management The league was established under a constitub.on in 1956 as the Friends of Cuckfield Hospital which was then the general hospital for Mid-sussex. A new hospital was built and opened in June 1991 as the Mid-sussex Di*rict Geneml Hospiial. After the official opening by Ihe prin￿5$ Royal in SeptemtEr 1991 it was renamed The Princess Royal Hospital. Subsequenuy the of the supporting charity was changed to the League of Friends of The Princess Royal Hospital and its constitution was updated in in 1997. The contact addre55 of trle charity is The Princess Royal Hospttal, UnTversty Hospttals Sussex NHS Foundation Trust. Lewes Road, Haywards Heath, West Sussex, RH16 4EX. Board and Othor Mggtings The charity is managed by a committee of management which ￿￿ts frequentty, and full minutes are maintained. Flsk Management The trustees actively review the rnajor risk which the chaiity faces on a regular basis and believe that maintaining reserves at a sufficient level to cover annual running costs. Bombined with an annual review of the control over key financial systems, wi11 provide sufficient resources in the event of adverse condits'ons. The trustees have also examined other operatK)nal and business risks faced by the charity and conf rm that they have established systems to mitigate the S￿nIficant risks. Objeclives and actIvl￿eS The overriding objeclNes of the League as set out in the constitution are". al lo supplement the seNice of the hospital for the heath, welfare and comfort of the patients therein by the provision of facilities, buildings and equipment wh￿h may be required for the treatment of such patients. or: for the running of the hospital and", bl lo provide, or assist in the provision of, amenibes in the hospital for patients and staff. including the provision and operation of hospital shops. The coffee shop at the entrance of the hospital provKles refreshment fr)r patients, slaff and visitors lo the hospital. This Is achieved by a full-time manager and four part-b'me paKI staff and a pool of loyal volunteers and raises funds for the benef￿larieS of the league. Achiovements and perfomiance The total amount of equipment purchased by the Le￿ue for the hospital is shown in note 10 to the accounts ane was funded by the chartty's current year income. In previous years, equipmenl purchased by the League has been largety fvjnded by using reserves held from p￿vIOuS years. Details of the shop trading is provided in note 5 to ihe accounts. League of Friends of the Prlncess Royal Hospital Trustees. Annual Report Yoar ended 31 March 2025 Flnancial revlew Prfnclpal fundlng sources The L8ague's principal funding Cornes from the njnning of the coffee shop.. however it al80 r￿elVeS funding frorll donations, legacles, collection boxes and also ftjndrdising events. Invastment pollcy Asldè from retaining o prudent 8mount In reseTves, the ￿agU6.5 lunds are invested in depDSIt accounts of the Leagu8'5 bankers. Reserves pollcy Tb,e ttust¢es have examlned thè charity's requiremerrts for the reserves in IKJhl of tha maln risks to the organlsalion. 11 has established a wlicy to maintsln a balan￿ of at18asl £75,000 in rgserves. At 31 MarGh 2025, th818V81 of unresticted reserve was £303.356. Plans for future perlods The League will continue lo raise fund5 to help finance projects in eccordance with its objectives. It is anticlpaled that Ihe level of funds will be suffi￿ent to rneet Ihg future requests for hospital amenlfjes. The trustees, annual r8POrt wa5 approved on 11 Jul 2025 and Sign￿ Dn behalf of the board of trustees by.. Mr A. Fox- Joint Chalr Trustee Mr U. Wesl-Eats)tt- Joint Ch8ir Tnjslee League of Friends of the Princess Royal Hospital Independent Examinerfs Report to the Trustees of League of Frionds of the Prfncess Royal Hospltal Year ended 31 March 2025 I report lo the trustees on my examlnation of he fillandal Statements of League of rriends of the Princess Roy21 ￿OSPital {Yhe ckarity'l for the year ended 31 M￿Ch 2025. Responslbilities and basls of report As the trustees of the charity you ar& responiibl6 for the pr6paralion of the financlal statements In accordance with Ihe requirements of Ile Chafitw Act 2011 Ilhe Act'l. I report In rgspecl of my axamlnatton ol Ihe cha￿l￿S financlal statem8nts carried out under section 145 of Ihg 2011 Act in carying Odt my examination I have followea all the applicable Directions givg by the Charfty CDmml551on undar section 14515)Ibl of the ACL Indopendent examlnèrfs statement Since th& Charit￿8 gross income exceeded £250.000 your examiner must b& a member of a bc)dy listed In section 145 of th8 2011 Act. I confirm that l am qualified to undertake the oxaminalion because l am a member of the Institute of Chartered Accoup,tant5 In England and Wales {1CAEWI, whlch is one of Ihe listed bodies. I have completèd my examination. I confirm that no material matters have come to my attention In conn8Ction with the examinatton gNing me cause to beli8ve that in any material respect.. 8ccountirKJ records were not kepl in resFed of the charity as required by secllon 130 01 the Act., or tho finandal statement5 do not BGcx)rd wth those re¢J)rd5.' or the financial ststements do not compty with the 8pplnable requlremenls concemlng the form and content of a¢counts set OUE in the Charities (Accounts and Reports) Regulations 2008 other than any requirément that the accounts give a 'true and fairf view which is ng1 a matter considered as Part of an independent examination. I have no concerns and hav& come across no other matters rn ￿nD.ectiOn with the examinalon to which attention should be drawn in this retx)rt in order to enable a proper understanding ol the accounts lo bg reached. Christopher Whllley-Jones Independent Examiner 11 Jul 2025 League of Friends of the Princess Royal Hospital Statement of Financial Activities Year ended 31 March 2025 2025 Restricted funds Total funds Total funds 2024 Unrgslricted funds Note Incomg and endowments Donallons and legacies Charitable activities Invaslment Income 55,824 631,336 6,475 693.635 7,500 63.324 631,336 6,475 701,135 156,445 564,373 4,264 Total Income 7.500 725,082 Expendlture Expenditure on raising funds.. Costs of other trading activ1t￿$ Expenditure on charltsble aotivibes Other expendf(ure Total 8xpendlture 1,475 494,900 330,251 826.626 1,475 494.900 330,251 419,621 132,312 826.626 551,933 Net lexpendlturalllnGome and net movement In funds 1132.9911 7.500 {125,4911 173,149 Reconclliatlon of funds Total funds brought forward Totsl funds corrled forward 436.347 32.554 468,901 343,410 295,752 303.356 40.054 468,901 The slalement of financial act'vtties inGludes all gains and losses rec%)gnised In1he year. All Income and exp8nditure deive frDm continuing acbvibes. Thg notes on pages 8 to 17 forni part of these financial stat8ments. League of Friends of the Princess Royal Hospital Statement of Financial Position 31 March 2025 2025 2024 Fixed assets Tanglbl8 fixed assets 16 50.318 47,871 Current assets Stocks Debtors.. due wthin one year Cash al bank and Sn hand 17 18 6,206 9,918 342,334 6,081 9,645 451,417 358.458 467,143 Creditors: amounts falllng due wlthln one year Trade credltors Other crgditors including taxation and swal security 19 58,824 6.542 40.073 5,840 fj5,366 45,913 Not current assats 293.092 421,230 Total assots less cuThent IlabllEttes 343,410 468,901 Funds of the charlty Restricted funds Unrestricted funds 40,054 303,356 32,$54 436,347 Total Charity fund5 21 343,410 468,901 These financial statements were approvod by tho board of trustees and althorised for issue ¢n , and are slgned on behaff of tho board by: 10 Jul 2025 Mr A. Fox- Joint Chair Trustee Mr M. Wesl-Eacott- Joint Chair TnJst8e The notes on pages 8 to 17 forni partof these finandal statements. League of Friends of the Princess Royal Hospital Statement of Cash Flows Year ended 31 March 2025 2025 2024 Cash flows from operallng actlvltles Nel (expenditurejnncome 1125.4911 173,149 Adjustments for DeF￿eCiallO￿ of langlble fixed 25sels Other in18r$st receivable and similar income Interest payable and similar charges 19.709 16,4751 12,872 17.169 14,2641 9,661 Changes in.- Stocks Trade and other debtors Trade and other cr8dltors (12SI (2731 19.453 {1,9621 580 113,6231 180.910 Cash gonerated frorn operations 180.3301 Interest pald Intere81 received 111872} 6,475 (86,7271 19,8611 4,264 Net cash (used Inllfrom operalng athrues 175.313 Cash flows from Inve5tlng actlvtttes Purchase of tsngible assets N81 cash usetj in investing activitses 122,3561 122.3581 {23,2861 123.2861 Net Idecroasoylncrgaso In cash and cash equlvalents Cash and cash equlvalonts at beglnnlng of year Cash and cash equlvalents at end of year (109,083} 451,417 152,Q27 299,390 342,334 451,417 The noteg on p8ges 8 to 17 ftKm part 4fth￿ financlal ststèmènts. League of Friends of the Princess Royal Hospital Notes to the Financial Statements Year ended 31 March 2025 General Inforniatlon The charity Is a public benefft entity and a register￿1 charfty In England and Wales and 18 unlncorpor8ted. The address of the prinupal ofjc* is The PITncEss Royal Hospital, Brighton and Sussgx University Hospitsls NHS TpJst, Lew85 Road. Haywards Heath, Vvesl Sussex, RH16 4EX. Statement of compllance These finandal statements have been prepared in Complian￿ with FRS 102, The Flnanoial Reporting Stsndard applicable in the UK and the Repuolic of IrolaTrd', the Ststement of R8comm8nd8d Practic8 applicablè to d7artts.gs preparing their accounts Ill accNdanc8 with the Financlal Reportip.g Standard appllcable the UK and Republic of Ireland (FRS 1021 Icharfues SORP IFRS 10211 and th8 Charities Act 2011. Accountlng pollcles lal Turnovprllncome I Incom8 is shown net of value added tax. Volijntary incom8 and donations arè accodnlBd for as received by the charity. Legacies are accounted for when no1rf18d to the charity and quanttnablo. The income from fundraislng ventures is shown gross hwtb. the as>OC(aled costs included in fvndraising costs, No perm8n8nl &ndowments have been recelved in the pericmj. Ib) Bas1$ of preparatlon The linanaal statements havè been prepared on the historical cost basis. as modffied by the revaluation of certain financial assets and liabilities and investm8nt prop6rties measured aÉ fair valu& through Income or 8xptsnditure. The financial slatemonts are prepared in stedirKJ. which is the fvrictsonal Cu￿ncY of the enuty. Icl Voluntary help and glfts In klnd The Charty relies on a pool of voluntary helpers in running the hospital coffee shop of which an &slimated value has been placed on this resource of £7.5￿, W￿.ich has been Included in the accounts as donations. Simllady, the charity at present ffjo*ives the use of the premises in the Princess Royal Ho8Pltal for no CDSL Therefore a peppercom rent of an estimatad value of £7,500 has also been included in the accounts as administrakn.on costs. Idl Golng concern There are no material uncertainlies aE)out the charity's ability to continue. (91 Governance costs Expenditur& on management and administration of the charlty included all expenses not direcly related to the charitable act&vities or fundraising ventures. lfj R&strlded funds Certain donations or legacy income are received with restrictions attached as to spèufic usage. These funds are separated from unTestricled or designated funds and used for the purpose ol the restrlction. League of Friends of the Princess Royal Hospital Notes to the Flnancial Statsments Year ended 31 MarGh 2025 {gl Judggments and key sources of estlmatlon uncartalnty The preparation of the financial stslements requires management to make judg8ments, esllma18s and assumptions that affect the amounts reported. The58 estimates and jddgements are conb'nually rev1&wed and are based on experience and olh8r 4actors, including expectations offtrture evènts that are believed to ￿ reasonable under Ihe cIrcUmstan￿S. (h) Fund accountlng Unrestrided funds are avallable use at the discrettin of the trustees to tjrther any of the charity's purposes. Designated knnds are unrostrfcted funds earmarked by th8 trjsteas for pattcular future project or ommitrmenL Restrfcted funds are suWe¢Xed lo restrictions on their expenditure dedared by the donor or through the tern￿ of an appeal. and fall into one of fv40 sub-dasses.. restric1￿ incc)mè funds or 8ndowmenl ftjnds. 111 Incomlng resourcès I IncDrning resources are included in the ststement of financTal activities when ent'tlement has pass8d lo the ch8rity,' it is probabb that Ihe economic benefits associated wth the transaction wlll flow lo the charity and the amount can reliably measured. The fol[0¥￿n9 5poafK policles are applied to parbcular Categories of Income.. income from donalons or grants is reo)gnised when there is eVKIen￿ of entiU8melll to the gift, recelpt Is probable and tÈs arr￿nt can be measured reliably. legacy income is reo)gnis&d when receipt is probable and entillemenl Is established. incorne from donated goods is n￿asured al the fair value Df the goods Ltnlfjss thls is impractical to measure reliabty, in whlch case the value is derived from the cost to the don or the eslirnaled rfjsale value. Dmaled farylthes and setViW8 are recognised in the accounts when receDied rf the value can be reliably measured. No amounts ar8 included for the contributon of general VDlunteers. incotlle from contracts for Ihe suppty of services is recL)gnised with the delivery of the contracted $8rvice. This is d2s5ffled as unrestr,cted funds unless there is a conlraclual requirement for il to be spenl on a particular purpose and retumed if unspent, in whlch case it rnay be regarded as ￿stricted. League of Friends of the Princess Royal Hospital Notos to the Financial Statements (¢onllnuodl Year ended 31 March 2025 Accountlng pollcies (conthtsÈdJ Ul Rèsources expended Expenditure ts rec#)gnlsed oft an accnjals basls as a liability is Incurred. Exp8nditure Includ68 any VAT which cannot be fully r8cover&d, and is dasstfied under headings of the statement ol flnanGlal activlties to whlch (( relates.. expèndlture on raisirYJ fijnds indudes the costs of all fundralsing activities, evonts, non-charitable trading acl'vltiès. and the sale ofdonated goods. expenditure on charttable activities indiides a15 ￿$t$ inwrred by a charity in undertaking actiwtes that further its tharitable aims for the benefit of tts beneficiarles. including those support costs and o)sts relattng to the govemanc4 of the charity apportioned to charitab activit'gs. other axp8nditure Indudes 8118xwdittJr8 that Is neither related lo rdising fvnds for the charfty nor part of115 expenditure on charitable acllvlues. All costs are alloc81ed to expe[￿rture categories ￿ffeCtIng th& use of the resource. Dlrect costs attributable lo a single activity are allocated directy lo that activity. Shared costs are apportioned betsveen the activities they eontribule to on a reasonable. justs"fiable and consistont basis. {kl Tanglble assets Tangible fixed assets are staled al cosl less detwiation. {11 DgpreGlatlon D-preryalion is calwlated so as lo wrilo off the cost or valuation of an asset. less its residual value, ovar the useful 8conorni¢ lffe of that asset as follows.. Shorthold lease Fixturgs ffltings and equipment CompLrter equipment Over lease term 20VJ straight line 25% straight line {ml Impalnnent of fixed assets A review for indicators of impairmenl is carried out at each reporbng date, wth the recoverable amount belng estimated where such indicators exist. Where the carrylng value exceeds the recoverabl@ amount, th8 asset is impaired ac£ordingly. Prior impairments are also reviewed for F)ossible reversal at each reporttng dale. In) Stocks Stocks are measured at the k)wer of cost and estimated selling price less costs lo complete and sell. Cost includes all costs of purthase, costs of converston and other costs incurred in bringing the slock to its present lo(ztion and Cond￿On. 10 League of Friends of the Princess Royal Hospital Notes to the Financlal Statsments (contlnued) Year ended 31 March 2025 Accountlrtg pollcles (conthu¢xl) lo) Flnancial Instrumgnts A financial asset or a finan￿al liability is recognised only when the enlty become5 a paty lo the contractual provisions of the instrument. Basic finencial instruments are initially recognised at the amount re￿1vable Dr paraNe inctuding any related transaction costs, unless the arrangement constttules a financing transaction, where l is recognised al the pr&s8nt value of Lle future payments discounted al a market rale of inter8St for a simllar debt inslnjmenl. Current assets and current liabilities are Subsequendy measured al the cash or other consider81ion expthd to be paid (Y rg*lved and not discounted. (pl Defined contrlbution plans Contributions lo defined contribution plans are recognised as an expense in the period in which the related serviee is provided. Prepaid contributions are recognised as an asset to the exlenl that the prepayment will lead to a reduction in future payments or a ¢agh refund. Vvhon contributions are not expected lo be selued wholly within 12 months of the end of the reporting dale in which the employees render the related servi¢e. the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the periDd in which il arises. Donations and legacles Unrestrict Funds Restricted Total Fund5 Funds 2025 Donatlons Donations 3,328 7,500 10,828 Legacles Miss Taylor Mercl Masan Lim Jennings 47.496 47,496 5,000 55.824 T,500 63,324 Unrestricted Funds Restr(cted Total Funds Funds 2024 DonalioTrs Donations 3.785 22,660 26.445 Legacies Miss Taylor Merci Mason Lim Jennings 5,000 125.000 5,000 125,000 133,785 156.445 11 League of Friends of the Princess Royal Hospital Notes to the Financial Statements fconttnued) Year ended 31 March 2025 Charftabl8 activities Unrestr￿ed Totsl Funds Unreslricled Total Funds Funds 2025 Funds 2024 Shop income 631.3 631,336 564,373 564,373 2025 2025 2024 2024 Shop Income Shop costs- openlng stock Shop ¢osls- purchase5 Shop costs- closing stc 631,336 564,373 {6,0811 (315,378) 14.1191 {272.7921 315 53 316,083 Gr055 profil Less.. Shop costs- rent, rates and insurance 293,543 (9,292) {2,941) (109,846) 19,2061 (6,3771 197,1531 Shop expenses Staff salaries Depreciation 141788 Profil Shop gxpenses No remuneration or benefrt was paid to any truste8s in tho year Shop salaries At the year end there We￿ five paid members of staff and the amount shown above is the charge for salaries and related expenses (see note 13). Investmonl Income Unrestricted Total Funds Unreslrtcled Total Funds Funds 2025 Funds 2024 Bank interest receivable 6,475 6.475 4,264 4,264 Costs of other trading activities Unrestricled Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Fundraising trading 1,475 1,475 12 League of Friends of the Princess Royal Hospital Notes to the Flnanclal Statements (conllnu8dl Year ended 31 March 2025 Expendlture on charitable actlvrbes by fund type Unrestrtcted Funds R8Strict8d Total Funds Funds 2025 Shop axpenditure Support costs 457,041 37.859 457,041 37.859 494,￿0 494.900 Unrestricted Funds ReslriGted Total Funds Funds 2024 Shop expenditure Support costs 393,235 18,886 7,500 400,735 18,886 412,121 7,500 419,621 Expendthrè on ¢harftable actlvfties by activlty type Aclivities urviertaken directly SupFXXt Total funds costs 2025 Total fund 2024 Shop expenditvre Support and g0vemar￿￿ costs 457,041 457,041 37,859 400.735 18,886 37,859 457.041 37,8S9 494.900 419,621 10. Anatysl$ of support costs 2025 2024 Advertlsing Accountancy fees Legal and professional fees Printing Postage and Stationery Sundry ex￿nseS Bank and credit card charges CDmputor expenses indLEding so￿are subscriptions 13,937 4,180 3,900 746 1,255 12.872 969 4,030 3,300 7B1 403 9,861 511 37.859 18,886 11. Other expendlture Unrestrcted Total Funds Unrestiicted Total Funds Funds 2025 Funds 2Q24 Granting of amenities 330.251 330.251 132,312 132.312 13 League of Friends of the Princess Royal Hospital Notes to the Flnanclal Statements (wntlnutydj Year ended 31 March 2025 11. other expendlture f¢ontht*dJ The cornmltt&e of management hav6 spent £330,251 (2024 - £132,312) in the year on n&w amenities for the hospital Since the balan¢e sheet dale but befor8 approval of th8S8 ac(x)unls. the charity has agreed to fLtnd futuw equipment to ts NHS Trust lo th8 sum of £nil12024- £60,725). 12. Net {Èxpndlturg}Ilncome Nat (8xp8nditureifincome is slated after chargin￿(Cradl￿ngl= 2025 2024 Deprecaallon of langiblo fixed assets 19,709 17,169 13. Independent examlnatlon fees 202S 2024 Fe￿ payable to the indeperKl8nt oxaminer for. Ind8pène8nt examination ol the finanaal statements 1,750 1,750 14. Staff costs Tho total gtaff costs and employee beneffts for fhe repor16ng ￿0d are analysed as follows.. 2025 2024 Wages and salaries Social security costs Employgr oJrrtribudons to pension plans 104.720 3,411 1,715 109.848 92,628 2,919 1,606 97.153 The average head count of empk)yees dur(ng Ihe year was 412024: 4). No employee rece￿ed employee ￿efits of more than £60,000 during tho y8ar {2024-. Nill. 15. Trustae remuneratlon and expenses No remunaralion ￿ other benefits from ern￿OyMent ￿th the diarity or a related entity were received by any of the trustees. 14 League of Friends of the Princess Royal Hospital Notes lo the Financial Statements fconthu•dJ Year ended 31 March 2025 16. Tanglble flxèd assets Land and Hxbjres and bulldings fitttngs Equlpment Totsl C05t At 1 April 2024 Additions Disposals Al 31 March 2025 48,005 64.484 t3,035 (10,525) 66,994 643 468 113,137 22,356 110,5251 124,968 56,858 1,116 Dopreclatk>n At1 April 2024 Charge for the year Disposals Al 31 March 2025 19,864 11,829 45,522 7.601 110.5251 42,598 80 279 65,466 19,709 110,525) 74,650 31.693 359 Carrylng amount Al 31 March 2025 2S,165 24.396 757 5D,318 At 31 March 2024 28.141 18,962 568 47,671 17. Stocks 2025 2024 Raw materials and consumables fj.206 6,081 18. Debtor5 Debtors falling due wtthin one year are as follows". 2025 2024 Trade debtors Prepayments and accrued inwrne 9,293 625 8,860 785 9,918 9,645 19. Other credltors Includlng laxatlon and soclal $g¢urity falllng due wlthln year 2025 2024 Soclal security and other tsxes Other credilors 3,981 2,S61 2,430 3,41 Cb 6.542 5,840 20. Pensions and other post retirement beneffts Defined contrlbutlon plans The amount recognised in inca)me or expendi￿re as an expense in relation to defined contribution plans was £1.71S12024= £1.6061. 15 League of Friends of the Princess Royal Hospital Notes to the Financial Statements (contlnuod) Year ended 31 March 2025 21. Analysls of charltsble funds Unrestrlcted funds At 1 Apdl 2024 At 31 March 2025 Inc￿Me Exp8ndilurg General fvnds 436.347 693.635 1826,6261 303,356 At 1 Aprfl 2023 At 31 March 2024 In￿me Expenditsjre General funds 278.358 702,422 1544,4331 436,347 Restrlcted funds At 1 April 2024 At 31 March 2025 Income Exp8ndllure r