2023-03-31-accounts

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 1r38 Registered number: 00989820 Charity number.. 261726 PURLEY PARK TRUST LIMITED (A company limited by guarantee) GOVERNORS. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 2r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) CONTENTS Page Roference and administralive details of tho Charity. its Governors and advisers Chairman's statement Goveiiiois. report 4-13 Independent auditors. report on the financial statements Staiemeni of financial activities 14-17 18 Balance sheet 19 Statement of cash flows 20 Notes to th8 financial statements

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 3r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS GOVERNORS AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023 Governors Mr S R Barstow, Chaim)an Mrs A Cullimore-Todd Mr L D Jones OBE FCCA. Treasurer Miss R Keeling Mrs S Robinson Mr C Trickey Mrs S Vandersteen Mr S Lewis {appointed 27 April 20231 Governors, who are Trustees, are appointed by the existing Govemors and confimied at the Annual General Meeting. They serve for a temi of three years, when they may submit themselves for re-election. The Chairman is elected by the Govemors and may serve as Chairman for no more than ￿ consecutive temis. Company registered number c￿989820 Charity ragistored number 261726 Rogistered office Purley Park Trust. 12 Huckleberry Close. Purfey-on-Thames. Reading. Bwkshire. RG8 8EH Company secretary Mr L C Grady Senior management team Lary Grady, Chief Executive ￿lCer Karen Ta￿Or, Head of Finance & Resour￿9 Debbie McKay, Training & Development Manager Independent auditors James Cowper Kreste4) Audit. Reading Bridge Housè. George Street. Rèading. Bèrkshire. RG1 8LS Bankers National Westminster Bank Plc. 74 School Road, Tilehurst, Reading, Berkshire. RG315ST Solicitors Field SeyTnour Parkes, 1 London Street, Reading, Berkshire, RG1 4QW Page 1

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 4r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2023 The chairman presents his statement for the year. Once again. my great Ihanks to my fellow Trustees and the officers and staff of the Trust for the way they have continued to reswnd lo the Mqde variety of challenges presented by the current economic environment We have continued to expand our servie•s in a sustainablè manner and extend our reputation for providing seNices of a very high quality. We have continued our considerable investment in improving and maintaining the quality of our established seNices. We have also continued to acquire new properties in order to provide new supported living selv1￿5 with young people and their families. These services help people to live independently. to have choice and control over their live5 and who they live with, within the communtties they have grown up in. and to remain in dose contact wÉth their families and friends. Over lithe more than a decade the supported living service has grown from nothing to a service comprising eleven very attractive owned or rented properties in the community. These properb.es prowde ex￿lIent accommodation for 29 tenants. Our new 'swal hub, al the Reilly Rooms has now been fulty completed and offers a vibrant environment for people to spend their leisure time. engage in new experiences. leam new skills and undertake paid employTnent The demand for our seryi(*s is very high and reflects our go￿￿ reputation wth our commissioning authorities and our popularity wth the ￿ople that use our setvices and their families. Almost all of our referrals are still generated through word of mouth recommendations. and this very muth matches our vision and values. The people we support continue to be our main priority. and thi5 is reflected in how we priorilise our resource5 and investments. We continue to focu5 on providing excellent support for them and If we get th15 right, there Is Iittte need to Invest In marketing and advertising. We not only think that this Is an ethical way to proceed. but it also promotes a culture of efficiency, in that we direct our resources towards things that direcuy relate to the people we support and we avoid unnecessary expense. We have continued lo receive referra15 for Care Homes serVi￿S. Supported Living service5, Domiciliary Care and Day Services at an increasing rate and we anticipate that this trend wll continue. We will continue to develop our services in the forthcoming year in line wth our commitment to enable people with local connections to get the support they need wthin their own communities. The cost of living crisis continues to have a serious impact on our ability to maintain our services lo the high stsndard we expect. This impact is particularfy marked in the followng respects.. The financial pressures upon L￿1 Authorities and other agenaes who purchase OUT services. The challenges of working with new commissioning authorities, such as Integrated Care Boards, who do not have experience of working in partnership with community based organisations the cost of maintaining the stsff and support systems needed to meet the increasingly complex needs of new referrals. the cost of training and support to ensure our staff have the nece55ary 5ki115. kno￿edge and commitment. the regulatory pressures that require investment in activities and processes that we ourselve5 do not necessanly Identrfy as essential. continued investment in our current services to ensure they continue to provhde a safe, comfortable and pleasant environment the development of new, bespoke. ServI￿S that are designed around the needs of people we already support or Mtho canrtot find the support they need elsewhere. In particular, the critical shortage of staff in the wider soual care sector and the many factors that are likely to make this worse Page 2

VkiuaBunatLnTrarffjxlvM Ref. F6R&QPMR-DQ7G 300L* 2W23 17..41..29 GMT{Lrrc +0) D 1rd p 5138 PURLEY PARK TRUST LIMITED (A company limited by guarantee) CHAIRMAN'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 I must emphasise the vital importance of a skilled and motivated workforce and healthy organisational culture to the success of our charity. Our staff and Managers are the most important factor in determining the quality of the services we provide and we work hard to develop a culture and environment in which the staff feel valued and are empowered lo use their skills and initiative. Our objectives for the coming year reflect the themtt over recent years and include.. Engaging with our partner agenaes to ensure that our services continue to meet their commissioning needs. Continuing lo invest in innovalive ways to support the independence and safety of the people we support. Increasing the effectiveness of support and ¢(￿￿11n9 for ou¥ staff lean)s Ensuring that we have a clear'career progression, ladder that promotes staff development, motivates talented staff lo remain with the Trust and enhances our succession planning Developing the support systems necessary for supporting people with very complex needs Continuing lo devolve decision making. Within a clear strategy and vision for the Trust. most decisions should be made as close lo. and with as much involvement of, the people we support as possible. Progressing our plans to re-develop some of our Care Homes to ensure that the accommodation we provide can eonlinues to meet the needs of the people we support. Engaging effectively with our local community in ways that benefit the people we support. Maintaining and developing a recruitment strategy that ensures we can eonlinue to attract people wth the ghl values, 5ki115 and commitment. Continuing to be a leader in our field. We have atrways sought to attract and retain the best st8ff through paying r￿MPetItive salaries and by ensuring that the Tru51 is a great place to work. In the coming year we wll continue to'benchmark. salaries at all levels of the organisation to ensure that they are within the lop len per cent of salaries in our area for comparable roles. In view of how low salaries are in social care when cornpared wth other forms of employment, we are aware that in terms of fairness and competitiveness we may also need to benchmark against skilled roles outside social care employment. The proper govemance of the Trust continues to be a high priority for the govemors. The Trust is lucky to have such a committed and skilled group of Trustees. My second three-year term as chaimian comes to an end this year and accordingly under the rules a new chairman wll now be elected_ 11 has been an honour and pleasure to have been the chaimian of the Purley Park Trust, and I wish the new chairman every success. Finally, I would like to thank all the staff at Purley Park Trust for their continued dedication, hard work and the very real difference they make to the lives of the people we support. I would particulady like to thank my Chief Executive, whose exceptional effort and ability contributes enormously towards ensuring the great success of the services we provide. stephen Barstow Chairman Dale: 30 October 2023 Page 3

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 6r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) GOVERNORS. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Govemors Iwho are also the directors of the charity for the purposes of the Companies Act) present their annual report together w¢th the audited financial statements of Purley Park Trust Limited (the charity) for the year ended 31 sl March 2023. The Govemots confirm that the Amnual report and financial statements of the charrty comply wth the current statutory requirements . the requirements of the charity's goveming document and the provisions of the Statement of Recommended Practice ISORPI, applicable lo charsties preparing their accounts in accordall¢* with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). effeGtive January 1st 2019. Objè￿1VeS and Activities Charitable objects The Governors, as Trustees of the Charity, mindful ofthe Charity Commission's guidance on 'Public Benefit, are satisfied that the Memorandum fulfils the criteria and that the activities of the Trust are wholly and exclusively for the public benefit. All the beneficiaries of the Trust's aims and activities are people with a leaming disability lin many cases wrth other forms of disabilty} or other cognitive impaimient, are unable to live fijlly independenuy. How much support people need, and how they wish this to be provided, is a very individual matter but all need help with some or all aspects of their daily lives., empowering and enabling them to lead rewarding and fulfilling lives is fundamental to the Trusvs values. What we aim to do To provide Safe, comfortable homes for adults with leaming disabilities who are unable to lead fully ndependent lives. To make sure that people are living in healthy en￿ronmentS that reflect their needs and wishes. When people are sharing their accommodation. we will do whatever we can to make sure that people like and get on with the people they share with. To work wth each of the people we supp)rt to make sure we are clear what support they need and how they want it to be provided. To work with each of the people we support to make sure that we know what is important to them and make sure those things happen To build excellent relationships wth each Pery￿)n we support and, Mthere appropriate, help maintain circles of support around them, induding the people that are most important to them To make sure that people are supported to make the decisions that affect their lives and, where they are not able to do so, that decisions are based upon what those that care about them think they would have made To support people to identify and achieve changes that they want to make in their lives Ourvision. We wll be known for our integrity. our passion and our commitment to getting things right for each person we support. Our Values Everyone Counts- we will support each otherto make this a great place to work and challenge each other to make things better Respect and Dignity- We will show care, compassion and respect in everything we do and say Commitsment lo Quality of Life- We wqll be passionate, dedicated and determined lo do an excellent job. We will tell each other when things go really well. Working Together- We wll strive lo improve what we do. We will build partnerships and work together to make things better. Compassion- We Mqll listen. understand and ￿arn so that we can support people in the way that wo￿$ best for them. We will never forget that the only reason we are here is the people we support. Improving Lives- We wll find out what's important lo each person we support and help them to make il happen. Page 4

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 7r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 How we meet our aims and values We have eight houses at Purfey Park, each registered as a care home service for accommodation and support. They are home to a total of 53 people (when fully occupied). They are all purpose built, but vary in size and stye with befvrfeen five and eight people we support in each_ Each house is domestic in scale and fumished to a high standard, but Mqth appropriate specialised equipment and faalities. We also provide Supported Living Services in our local community,. currently we support 29 people in their own homes. We are registered wth the Care Quality Commission as a Domiciliary Care Agency, so that we can provide personal care for those people that require it. In October 2019, Mill Lane Lodge was added to the portfolio of services that we manage. This property currenuy supports 8 people in a large propeity in 3 acres of land, offering unique opportunities We provide Day Seryices for people who live at Purley Part( and also for a small number of people who live elsewhere lon our main site in Purley and at the Lodge. in Padworthl The Managers and staff that provide our seThices are our greatest asset. They are all trained and skilled. with a high proportion having many years experience and advanced qualificatsons. We provtde the majority of this training ourselves so that we can be certain that it equips our staff effectively to carry out their role5 and matche5 our values and expectations. We plan carefully wlh each of the people we support so that we can meet their needs and wshes. We also encourage and enable the people we support to take part in a wqde range of activities. Our Day Servi￿9 Staff, together wth other organisabons, provide opportunib.es for the people we support to develop their life skills to help them to lead as Independent and inclusive lives as their abilities allow. How we measure our success in achieving our aims and objectives The single most important measure of our success is the experience that the people we support {our benefiaariesl have of being supported by us- by its very nature this is a subjective judgement but our success is reflected in the personal stories of each person we have the privilege to support. Our most effective ways of measuring our success depend upon the close and enduring relationships that staff at all levels of the Trust have with the people we support. This is assisted greatly by the limitations we impose on the number of people we support and the light gecgraphical location of the services we offer. We invest heavily in the living environments we provide lo make sure that they are nice, safe places lo live that maximise peoples, quality of life and independence. Recent examples of the level of commitment we make to help people find an environment that works for them include the purchase of a bungalow and building an annexe on lo a property for bNO young men that we 5UPPOrt, when their relationships wth people they live with had become strained. These investments have enabled them lo cary on living near their families, in their local communities. We also have a comprehensive range of intemal quality monitoring tools that help us lo assess how we15 each of our ServI￿S is meeting the needs and wishes of each of the people we support. We faalitale an annual review for each of the people we support lo assist them land people who know and care about them) lo tell us how well we are doing and what they want us to change, do better or help them ￿tyth over the following year_ Because our reputation is so important to us, we pay great attention to feedback we receive from people we support, their families and all of the other people we come into contact wth when doing our work. We welcome complaints las Op￿unitieS to leam and to improve ￿at we do) and compliments las evidence that we are doing things welll. Page 5

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 8r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Reputation is a difficult thing lo measure but anecd)tal evidence suggests that it is very strong- we recewe far more referrals than we are able to manage and the way we receive them is also informative.. most referrals are from professionals that have worked with us in the past other referrals have come from people who do not know us, but have been told good things about us we received a referral from a health professional that we worf( dosely Mqth and who has a dose relative that requires support- as close to the Care Qualty Commission's 'Mum Test. as we are likely to get. We also welcome the rigorous quality monrtoriTrJ inspections we re￿1ve from extemal bodies, induding.. The Care Quality Commission, who have assessed all of our services as meeting a 'Good' standard of care, hith some services rated as 'Outstanding' in areas of their work. West Berkshire Council. who have given us very positive feedback follwing their quality monitoring visits lo services Local Environmental Health inspections, which have assessed all of our Care Homes as meeting very high standard5 Review of the past year and what we have achieved As in previous years, our main achievements are reflected wthin the personal stories of the people we support and their friends and families. In order to support people to make these changes we need to retain a focus on our Mability and integrity as an organisation, relating to which the main objectives that we set ourselves last year to maintain high occupancy levels in our Care Home SeNices to expand our Supported Living services to continue to improve the financial sustainability of the Trust's OFerations To continue recent work in relation to ensuring our values and vision are fully embedded wthin our working culture Demand for our Care Home Services has been high and exceeds our current capacity. While there have been some vacanaes in these setvices over the last year, these are ones that we have held deliberately in order to adapt what we offer in response to significant changes in some peoples, needs. We also take great care when a vacancy arises to ensure we can meet the needs of people referred to us and this means that there can be some time between vacancies arising and people moving in lo their new home. There remain a number of situations in thich peoples, fees are signrficantly below the costs of providing them with a service. However, while these people are happy and well supported at Purley Park Trust, it is unlikely that they would be referred lo us rf they were looking for a service (due to the level and nature of their needs) and their fee levels probably do meet the level of 'personal budget, they might receive. In the past we have taken the view that pushing these funding authorities for additional funding is very likely to be a counter-productive exercise insofar as the interests of the people we support are concerned. However. we Mqll be engaging with the Ioc31 authorities involved in the ooming year in order to ensure that the fees we receive more closely reflect the cost of the support we provide. Our Supported Living SeNices have continued to be highly successful, which has led to in￿eased demand from local authorities seeking similar seNices that offer good value and high quality. We are very proud of the fact that our supported living seNices have enabled people with complex needs to live within their communities instead of in expensive 'speaalist' services away from their homes and families. though the adoption of Mill Lane Lodge was not Something that matched our objectives. we became involved with the service in early 2018, in order to ensure that the eight tenants living there could continue to do so. This was an opportunity that arose because of the work 'Ne have put in to developing the success and reputation of our services and our commitment to working wqth anyone locally that is interested in progressing the posib.ve interests of people with leaming disabilities. Page 6

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 9138 PURLEY PARK TRUST LIMITED (A company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 The eventual outcome was that in late 2019 we took over the ownership and management of the propety, Su￿ound1ng land and the support of the people I1￿7ng there. This project reflects our flexibility and abilty to respond to unexpected opportunities and challenges, within a well-defined long-lerm strategy. As noted earlier, such an acquisition was not part of our business objectives but securing the tenancies of the people living there and improving the quality of the support they received were clearly wthin our charitable objectives. In the longer temi the location offers significant OPp￿UnItieS and we are planning and investing in developments that will realise these for the benefft of the tenants, other people we supwt and the local communty. Our Day Services provision on our main site has been the are most affected by the Coronavirus pandemic and was closed for long periods of time from February 2020. This has gave us an opportunity to consult with our stakeholders and fundamentally review what we offer and how this is organised. As a result of this, in the Summer of 2022 we converted the Day Service building on our main site into a cafèlsocial hub. This still offers some organised activities but in bookable sessions run by extemally sourced 'experts' but at other times it operates as a café and meeting place for people we support, staff and other local people, with opportunities for paid work for people we support. In addition to this we will be continuing to invest in opporiunilies for people to gel involved in gardening. cultivation and animal husbandry at Mill Lane Lodge. We have not actively marketed our Domiciliary Care service and have declined opportunities to 'lender' for this type of provision. While we think there Mqll be some demand for this type of support, the majority of contracts being offered by commissioners are for high volumel short visit twes of provislon that do not match our strengths or our charitable objects. It would also be against the vision and values of the Twsl lo worf( in the way that some of the local authority commissioning arrangements are starting to demand (for instance. providing support to people any kind of need. bidding by trmail for short-visit contracts, etc.... However, in response to the increase in loneliness and the restraints on support available to people who are not eligibte for formal social care support, we are slowly extending the support we provide to people that live in our local community who might need short4enm supp)rt. befriending arrangements or other infomal help and support. We have h&1 a number of social work students on placement with us and a number of other students sludying for their Diploma in Care on a shorter temi basis. In addition lo all of the other benefits this brings (which are signifieantl. our Leaming and Development Manager is able to offer in-placement prath'ce teaching to the students, for which we eam some income. Once more we have also hosted a number of Thames Valley Police trainees on short secondmeTrts. an arrangement which continues to be very successful and enjoyable, as well as a number of Work experien placements for students in their later school years on work experience placements. Review of finances The Statement of Financial Activities shows a surplus of £77k against an annual tumover of £5.575m. Total operating income increased by 1.4%, due to: new and increased support packages for people we support. Successful negotiations regarding fee levels that had fallen below realistic levels Operating Costs rose by 6.2% due lo: significant investment and depreaation costs for our propertie5 Inflationary pressures on good and services Increases in remuneration for the Trust's staff and the high costs assoaaled wth lemp)rary staff Page 7

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 1or38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Administration costs Direct chaTitable expenditure and support costs continued to account for the vast majority of total operating expenditure and govemance costs accounted for only 0.1 % of fee revenue. The pay and remuneration of the charitys key staff (currently identified as the Chief Executive, Head of Finance and Resources and the Learning and Development Manager) is reviewed and set by the Governors at their January meeting, at the time that they agree the budget for the following financial year. This takes place in dosed session and is irrformed by.. The perfomiance of the Chief Executive as assessed in an annual appraisal. which is carried out by the Chaimian Appraisals ofthe perfomiance of the Head of Finance and Resources and Ihe Leaming and Development Manager, which are carried out by the Chief Executive Assessments of how well the overall objectives of the charity are being met. induding financial perfom)ance Comparisons with pay and remuneration levels in other similar organisations and wlhin the tharity Reserves Policy The Govemors have reviewed the Trust's Reserves Policy this year and determined that the Trust's reserves should continue to equate to 60 days average expenditure and be made up of cash at bank and in hand. This Reserves target is influenced by the risks the Trust is exposed to, particularty the very uncertain financial climate and the risks to our income streams. This figure is currently estimated at £904k. The funds available as at March 2023 amounted to £307k (net of assets in designated funds}. When reviewing the accounts the Trustees detennined that the followng assets should be held in designated funds: An amount of £50k for essential repairs to the trusts properties An amount of £5.6m related to the Trust's tangible fixed assets, including land and property in the Trust's ownership. These assets are regarded as beirg essential to the sustainable operations of the Trust and will not be realised in the foreseeable future. The Govemors recognise therefore that the Trust's reserves at 31 March 2023 are significantly below our target and wll be taking steps in the new financial year to address this. The Governors also accept that the actual reserves figure wll be fluid as it will be affected by the Trust'5 trading position. Their long temi aim remains to attempt to maintain or extend the target, although not to the detriment of essential investment in our services. Demand for the Trusys services is expected to remain very strong. at least partially mttigating the effect of Local Authorities, undethnding. The Govemors consider the balance sheet position at 31 March 2023 to be surricient, with adequate assets to meet the Trust's routine liabilib"es. Investment Policy The Trust has no stock or share investments nor any lon*temi cash investmer¢ts. Cash reserves are invested with the Charity OffI￿S Investment Fund (COIF) in accessible deposit accounts in slerfing in United Kingdom inslitulions. In the past this has allowed for development costs and capital expenditure lo be handled on an as required basis whilst achieving some investment income. Cash rese￿e$ are deposited in Iow-risk managed accounts which generally avoid especially contentious issues. Fund perfomiance in the year was competitive in a period of generally low interest retums. The Govemors revtew the policy periodically. and gave especially careful consideration during the year to the risk to our investments in view of the global economic position, but no change is envisaged in the short lemi. Description of our organisation Purley Park Trust Limf(ed is governed by its Memorandum and Arbcles of Association. We are registered with the Care Quality Commission ICQCI who regulate and inspect our Care Homes and Domiciliary Care Services under The Care Quality Commission (Registrationl Regulats'ons 2010, the Health and Social Care Act 2008 {Regulated Activities) Regulations 2010. the Health and Social Care Act 2008 and the Care Act 2014. Page 8

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 11r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Purley Park Trust Limited is a charity registered wth the Charity Commission (number 2617261. It is also company limited by guarantee with no share capital (company number 9898201. How we organise ourselves Our Trustees The strategic direction of Purfey Park Trust Limited is the resF)onsibility of the Board of Governors, who are the Trustees of the Charity (and Directors of the limited company). Trustees are referred to as Govemors for historical reasons- our founder, Col. Hugh Duncan initially sel up the Trust as a school for boys with leaming disabilities. The Governors, experience and qualifications are such that they can make a valuable contribution to the strategy and overall management of PU￿eY Park Trust, and all of them have an aelive interest in our activities. Polenlial Govemors are identified usually through personal contacts among51 current Govemors and Stsff. or approaches from interested partie5. Trustees are then selected on the basis of their professional experien￿, qualifications, skills and commitment to the aims of the Trust. as well as in relation lo the need for the Trust to have a broad range of expertise relevant both to the charitable aims of the Trust and the proper conduct of its affairs as a company limited by guarantee. A prospective Governor will apply fomially in writing to be elected as a Member of Purtey Park Trust Limited and then to be considered for election to the Board. He or she wll submit a Curriculum Vf(ae and explain why they wish to become a Member and Govemor, and what they believe they will be able to contribute to the gocxj governance of the Trust. All Governors are sent copies of the application. Mdiich will be considered at a Board of Govemors Meeting. All prospective Govemors Iwho are not known perscnally by a current Governor}, wll need to provide references and all Govemors are Subject to a Disclosure and Barring Service enhanced disclosure check. As the Govemors are also Company Directors, they comply with the rules governing eligibility for appointrment as company directors. in accordance with the requirements of the Companies Act 1985. An Induction Pack is provided for all new Governors, and this indudes guidance provided by the Charity Commission, and professional advisers as well as details aboul the Twsl. The Trust has a 'Govemors Training Fund" which a designated fund that is used lo defray the costs of Governors, attendance at training courses, seminars. conferences and so on that are relevant to trustee duties. as well a5 subscriptions lo govemance periodical5. Governors cary out a fomi of inspection. The format of these inspections is loosely proscribed to enable governors to detemiine issues to examine on a subjective basis when they visit. Our Management and Staff Structure Overall responsibility for the Trust's day-to-day management is delegated to the Chief Executive, Lary Grady. Each of our Care Homes is led by a Registered Manager, who is supported by an Assistant Manager and team of Senior Supwrt Workers and Support Workers. Our Domiciliary Care and Supported Living Setvices come under the direct management of Roberta Detenon and Diana Ead who are the registered managers of the Domiciliary Care Agency. In practical tem)s their roles are very cleady defined in terms of management responsibility and accountability for our different supported living service5. The day to day running of the Trust's finances is managed by Karen Taylor, our Head of Finan￿ and Resources and Aice Richmond. our Accounts Manager. We have a dedicated Manager for Leaming and Development, Debbie Mackay who oversees staff training and development. Page 9

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 12r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Our other fvnclions, garden and grounds, and maintenance are carried out on a departmental basis. Each department has a manager and a dedicated budget. Currently we employ about 178 staff, the vast majority of directly deliver care services to the People we support. It remains our aim to keep our administrative staff and costs to a minimum. The Board of Govemors meets quarterfy to receive reports from the Chief Executive and operational managers, and lo decide policy on matters as necessary. Annually they consider and approve the budget proposals, approve the audited accounts and review the Health and Safety Policy and Risk Management Plans. The Chief Executive reports betrNeen quartet1y Board Meetings to the Chairman and the Treasurer. On-site inspections of the operation of the Trust are regulat1y conducted by Governors. The Chief Executive and Govemors worf( very closely together to ensure the smooth and effiaenl operalion of the Trust within the policies and strategic plan agreed by the Govemors and in accordance wilh legislative requirements and registration standards. Review of rolationships wilh othar organisations St Luke'5 Trust Iln October 2019, the social care services provided by St Luke's Trust were transfe￿ed to Purley Park Trust. Staff working in those services have become employees of Purley Park Trust under TUPE a￿angeMents. St Luke's Trust also transfe￿ed the land and propety associated wth their soaal care services to Purtey Park Trust in the form of a donation. This generous step secured the lenanaes of the people that rely on the propety for their accommodation and support. Future Plans The provision of Care Home Services will continue to be our core business and it is our aspiration that we achieve ex￿llenCe in this area. Demand for the unique environment we provide remains very high. We shall however continue to diversfy our services. albeit while remaining a relatively small. local provider of excellent setvices. In particular, we will respond lo demand for new supported living setvices from people we know and their families and from commissioners by developing new se￿ICe5 of this type. In doing so we wll prioritise- People who live locally. whom we can help to remain within their Iwal communty People who have been unable to find a service that can meet their needs elsewhere due lo their particular Demand for these setvices has remained strong, despite the stated preference for other forms of service delniery amongst many Social Services departments. Our reputation is strong and we benefit from the trusting relationships we have with some key commissioners and from word-of-mouth recommendations. As we had anticipated, new referrals {Mthen we can accept them followng a vacancy arising) continue to be mostly for people ￿1th complex needs. Generally speaking, local authorities are reluctant to refer people to"Iraditional° residential Ca￿ unless their care needs are too complex to be satisfactorily met in oth&r S￿e$ of service delivery. The main effect on us of this is increased staff ratios as we support people with more severe leaming disabilities and more challenging needs- our recruitmenl, training and management of staff reffect this. Our capacity at Purley Park will not increase in the foreseeable future lo meet the demand for places. There is a need lalbeit not urgentl to invest in some of our older properties to ensure that our living environments continue to meet the needs of the people we support and the anticipated need5 of others who are yet to move in. There is risk that if we fail to address this issue that our income will also be adversely affected. Page 10

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 13r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Risk Management The management pursues a continuous and pro-active risk management strategy following identification and assessment of the major risks to which the Trust is exposed. These are reviewed regularly by the management team and at least annually by the Govemors at their January Board meeting. The process used to assess and manage risks across the organisation is rewewed regularly to ensure that risks are identrfied, analysed and managed effectively. Our Organisalional Risk Matrix identifies risks according to the following areas= Govemance & Management Operational Risks Financial Risks Risks relating lo external factors Legal l Regulatory Risks General operational risks are assessed and managed by operational managers. However, rf a signfficanl level of risk is identified land this cannot be satisfactorily mitigated at an operational level) the risk management plan is remewed regularly by the Chief Executive. Principal Risks & Uncertainties As a small organisation. one of our key risks is losing key stsff that perfom vital andlor tecl)nical functions for us. We have done a considerable amount of work lo mitigate this risk through succession planning. the restructuring of our senior management team and the delegation of tasks to reduce reliance upon individual staff. In addition. while our staff tumover is well klow the average for OTganisations that provide social care services. we are concerned that wage inflation in other sectors and Unpre￿de￿ted rises in the cost of living may impact severely on our ability to recruit and retain our workforce. We value our ￿Ople highly and invest heavity in their welfare but this situation will require constant monitoring and review for the foreseeable future. Another key risk identffied in our strategy is having insufficient capital to meet our aspirations for the seNices we deliver. We rnitigale this risk by.. Diver5rfyt'ng our services to indude new models that are not reliant upon significant capital outlay Ensuring that our strategy is based upon pragmatic. long lemi, sustainable objectives that also support our long temi aims. Working dosely with our partners to ensure that our long temi aims are relevant to their strategic aims and have their support where necessary Maintaining a clear focus C￿ the financial viability of the Se￿iCe we currenuy offer The most significant risk las it is for all providers of care and support sery1￿$), currently is the continuing uncertainty regarding the future of Health and Soual Care services in the UK and the considerable financial pressures that the organisations that purchase our Se￿iCe$ are under. While these matters are obviously not under our control we have managed these risks so far by- Diversifwng our services, to spread the risks in relation to funding pressures Building capacity and expertise to provide services that represent excellent value for people wth complex need5, for which there is an increasing demand Building relatior>ships and partnerships with other agencies 50 that we can understand each others, strengths and needs and ensure that we are viewed as a crucial part of their fijture plans Being as efficient as possible, to reduce waste, maximise the benefits we can deliver and provide excellent ServI￿S at very good value Page 11

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 14r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Governors The Govemors in office during the year were as folluKs: Mr L D Jones OBE FCCA (Treasurer) Mrs S Robinson Mr C Trickey RIBA Mr S R Barstow {Chairman) Mrs A Cullimore-Tcxld Miss R Keeling Mrs S Vandersteen Mr Stephen Lews Governors. who are also Trustees and Directors, are appointed by the existing Governors and confirmed at the Annual General Meeting. They serve for a temi c)f three years. when they may submit themselves for re- election. The Chaimian is elected by the Governors and may serve as Chairman for no more than two conseuJtive temis. Bankers The Trust's bankers during the period under review were the National Westminster Bank Plc. Solicitors The Trust's solicitors during the period under review'Nere Messrs. Field Seymour Parkes, Reading. Governors. Responsibilities Statement The Governors are also directors of Purfey Park Twst Limited for the purposes of company lawl are responsible for preparing the Governo￿. report and the financial stalements in accordance wth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Govemors to prepare financial statements for each financial year. Under company law the Governor5 must not approve the financial stslements unles5 they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resource5 and application of resources, including the income and expenditure. of the charitable company for that period. In preparing these financial statements, the Govemors are required to= select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and accounting estimates that are reasonable and prudent.. prepare the financial statemenls on the going concem basis unless it is inappTopiiate to presume that the haritable cotnpany wll continue in operation. The Govemors are responsible for keeping adequate accounting records thal are sufficient to show and explain the charitsble companYs transactions and disclose wilh reasonable accuracy al any lime the financial position of the charitable company and enable them to ensure that the finanual statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable wmpany and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitses. Page 12

VkiuaBunatLnTrarffjxlvM Ref. F6R&QPMR-DQ7G 300L* 2W23 17..41..29 GMT{Lrrc +0) D 1rd p 1V38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Auditors So far as each of the Governors is aware al the time the Teport is approved= there is no relevant audit infomiation of which the companys auditors are unaware- and the Govemors have taken all steps that they 0￿ght lo have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information A resolution passed al the Annual General Meeting appointed James Cowper Audit. Reading Bridge House, George Street, Reading, as auditors to the Trust for Ihe financial year. Approved by order of the members of the board of Govemors and signed on their behalf by.- Mr L C Grady Secretary Dale: 30 October 2W23 Page 13

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 1Gr38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PURLEY PARK TRUST LIMITED Opinion We have audiled the finanaal statements of Pudey Park Trust Limited {the 'charitll for the year ended 31 Mar 2023 which ts)mprise the Statement of financial activities. the Balance sheet. the Stslement of cash flows and the related notes, including a Summary of significant accounting policies. The finanoal reporting framework that ha5 been applied in Iheir preparalion 15 appliGable law and United KingdoTll AGGounting Standard5. induding Financial Repottng Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, {United Kingdc*n Generally Accepted Accounting Practice). In our opinion the financial staternents= give a true and fair view of the slate of the charitable companys affairs as at 31 March 2023 and of rts incoming resources and application of resources, including its income and expenditure for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirement5 of the Companies Act 2006. Basis for opinion We conducted our audit in accordance wth Intemalional Standards on Auditing {UKI IISAS IUKII and applicable law. Our responsibilities under those standards are fvrther described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirement5 that are relevant to our audit of the financial statements in the United lthngdom. including the Financial Reporting Counal's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our cpinion. Conclusions relating to going concern In auditing the finanaal stalements. we have concluded that the Governors. use of the going concem basis of accounting in the preparation of the ffinan￿al statements is appropriate. Based on the woth we have perfom)ed. we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concem for a period of at least trNelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Govemors with respect to going concem are described in the relevant sections of this rewL Page 14

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 17r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PURLEY PARK TRUST LIMITED {CONTINUED) Other information The other infomiation comwises the infomation included in the Annual report other than the financial statements and our Audilors, report Ihereon. The Govemors are responsible for the other information contained within the Annual report. Our opinion on the finanGial 5tatenients does nol Gover the other infortnation and. except to the extent othetwse explicilly slated in our report. we do not express any fomi of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so. consider whether the other information is materially inconsistent wth the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be malerrally misstated. If we identrfy such material inconsistencies or apparent material misstatements. we are required to detemiine whether this gives rise lo a material misstatement in the financial statements themselves. If, based on the work we have perfomied, we condude that there is a material misstatement of this other informats"on, we are required lo report that fact. We have nothing to report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion. based on the wort undertaken in the course of the audit.. the infomiation given in the GoverrEors' Report including the Strategic Report for the financial year for which the financial statements are prepared is consistent wth the financial statements. the Governot5' Report and the Strategic Report have been prepaTed in accordance wtth applicable legal requirements. Matters on which we are requirod to roport by exception In the light of our kno￿edge and understanding of the charttable company and its environment obtained in the course of the audit, we have not identified mat￿la1 misstatements in the Govemors, Report including the Strategic Report. We have nothing to report in respect of the following matters in relation lo Mthich Companies Act 2006 requires us lo report to you if, in our opinion- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us" or the financial statements are not in agreement iNith the accounting records and retums- or certain disclosures of Govemors, remuneration specffied by law are not made- or we have not received all the information and explanats'ons we require for our audit. Rosponsibilitifrs of trustees As explained more fully in the Governors. responsibilities statement, the Govemors (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statement5 and for being satisfied that they give a true and fair view, and for such intemal control as the Governors detemiine 15 necessary lo enable the preparation of financial Statements that are free from material misstatement, whether due lo fraud or error. In preparing the financial statements, the Govemors are responsible for assessing the charitable companls ability to continue as a going concem, disdosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the Govemors either intend to liquidate the charitable company or to cease operats'ons. or have no realistic altemative but to do so. Page 15

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 1ar38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PURLEY PARK TRUST LIMITED {CONTINUED) Auditors. rosponsibilities for the audit of tha financial ststem6nis Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an Auditors. report that includes our opinion. Rea50nable assuran￿ is a high level of a55uranGe, but 15 not a guarantee Ihat an audit conduGted in accordance ISAS {UK) will apways detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually OT in Ihe aggregate, they could reasonably expected to influence the economic decisions of users taken on the basis of these financial 5ts1ements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line wth our responsibilib"es, outlined above, to detect material misstatements in respect of irregularib"es, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Enquiry of management. those charged wth governance around actual and potential litigation and daims- Enquiry of management and those charged wth govemance to identify any material instances of non compliance Mqth laws and regulations- Reviewing financial statement disclosures and iesting to supporting documentation to assess compliance with applicable laws and regulations,. Perfoiming audit work over the risk of managenent ovuride of Ix)ntro15, induding testing of ioutnal entrie5 and other adjustments for appropriateness. evaluating the business rationale of significant transactions outside the nomial course of business and revieing accounting estimates for bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities. induding those leading to a material misstatement in the financlal statements or non-compliance wth regulation. This risk increases the more that compliance wth a law or regulats.on is removed from the events and transath.ons reflected in the financial statements, as we will be less likely to become aware of instances of non-complian￿. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves intentional concealment, forgery. collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. wMv.frc.o -ukJaudilorsres nsibilities. This description fomis part of our Auditors. report. Page 16

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 19r68 PURLEY PARK TRUST LIMITED (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PURLEY PARK TRUST LIMITED {CONTINUED) Use of our report This report is made solely to the charitable companls members. as a body. in aC￿rdance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work ha5 been undertaken so that we might state to the charitable COtnpanl5 meniber5 those matters we are required to State to them in an Auditor5. report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members. as a body. for our audit work, for this report. or for the opinic￿$ we have fomied. I￿P. Alexander Poal Bse (Honsl FCA DChA IS6nior ststuiory auditor) for and on behalf of James Cowper Kreston Audit Chartered Accryjntants and Statutory Auditor Reading Bridge House George Street Reading Berkshire RG18LS Dale= 14 Decernber 2023 Page 17

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 20r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023 Unrestricted funds 2023 Total funds 2023 Total funds 2022 Note Income from: Donations and legacies- other donations and legacies Charitable activities Investments= 122.396 5,441,185 122,396 5,441,185 5,204 5.388,355 Other investments 11.468 11,468 400 Total income 5,575.049 5.575,049 5.393,959 Expenditure on: Charitable activities 5,498,540 5.498,540 5.174,508 Total oxpenditure 5,498.540 5.498,540 5.174.508 Net rnovem8nt in funds 76.509 76,509 219.451 Reconciliation of funds: Total funds brought forward Net movement in funds 5,530,104 76.509 5,530,104 76,509 5.310,653 219.451 Total funds carried forward 5,606.613 5,606,613 5,530.104 The notes on pages 21 to 36 fom part of these financial ststements. Page 18

VkiuaBunatLnTrarffjxlvM Ref. F6R&QPMR-DQ7G 300L* 2W23 17..41..29 GMT{Lrrc +0) D 1rd p 21r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) REGISTERED NUMBER: 00989820 BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Note Fixed assets Tangible assets Current assets 13 5,250.064 4.678,854 Debtors 14 577,693 891.825 452,257 1.272.913 Cash at bank and in hand 1,469,518 1,725.170 Creditors.. amounts falling due within one year 15 1447,8801 1375,9131 Net current assets 1,021.638 1.349,257 Total assèts less curreni liabilities 6,271.702 6,028,111 Creditors.. amounts falling due after more than one year 16 (665.089) 1498,007) Total net assets 5,606,613 5,530,104 Charity funds Unrestricted funds Designated funds General funds 17 5,300,064 306,549 4,728.854 801,250 17 Total unrestricted funds 17 5,606,613 5,530,104 Total funds 5,606,613 5,530,104 The Govemors acknowledge their responsibilib.es for complwng wth the requirements of the Act wth respect to accounting records and preparation of financial statements. The financial statements were approved and authorised for issue by the Governors and signed on their behair Mr S R Barstow Chairman Dale: 30 O¢tobgr 2023 The noles on pages 21 to 36 fomi part of these financial statements. Page 19

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 2V38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Noi8 Cash flows from operating activitios Nel cash used in operating activities 20 65,512 266,275 Cash flows from investing activities Dividends, interests and rents from investments Purchase of tangible fixed assets 11,468 (705.516) 400 1223,628) Net cash used in investing activities 1694.048) 1223,2281 Cash flows from financing activities Repayments of bwowng Loan fLtnds received (470.552) 718,000 143,695) Net cash provided byl{used inl financing activities 247,448 143,6951 Change in Gash and Gash equivalents in the year Cash and cash equivalents at the beginning of the year 1381,088) 1,272,913 {6481 1,273,561 Cash and cash equivalents at the end of the year 21 891,825 1,272,913 The notes on pages 21 to 36 fomi part of these financial statements Page 20

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 23r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Gan8ral infomiation Purley Park Trust Limited is a company limited by guarantee incorporated in England and Wales with registered address 12 Huckleberry Close. Pudey On Thames. Reading. Berkshire, RG8 8EH. The members of the company are the Governors named on page 1. In the event of the Charity being wound up. the liabilty in respect of the guarantee is limited lo £1 per member of the charity. Accounting policies 2.1 Basis of preparaiion of financial statements The financial statements have been prepared in accordance with the Charities SORP {FRS 1021- Accounting and Reporbng by Charities: Statement of Recommended Practi￿ applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Finanaal Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. Purfey Park Trust ￿rnited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaclion value unless othe￿ise slated in the relevant accounting policy. 2.2 Donatioiis. bgquests and other receipts Donations and bequests are accounted for on a receivable basis. Donations in kind are included at the estimated value lo the charity. 2.3 Government grants Govemment grants are credited to the Slatemenl of financial activities as the related expenditure is incurred. 2.4 Interest receivable Interest on fiJnds held on deposit is included when receivable and the amount can be measured reliably by the Charity- this is normally Llpon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.5 Allocation of overheads Overt)eads are all(￿ated specifically either to direct charitable expenditure or costs of generating funds, except for gove¥naii(t (K)sts which are disclose(J sepaiately. Page 21

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 24r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting polieies {continuodl 2.6 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Govemors in furtheranGe of the general objeGtives of the Charity and whiGh have not beell designated for olher purposes. Designated funds comprise unrestricted funds that have been set aside by the Governors for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are fvnds which are to be used in accordance wth specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fvnd. The aim and use of each restricted fund is set out in the notes lo the financial statements. 2.7 Income AJI income is rec¢)Jnised once the Charity has enlitlement lo the income, it is probable that the income wll be r￿￿1Ved and the amount of income receivable can be measured reliably. For legacies, entiuement is taken as the eartier of the date on which either.. the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executorls) to the Trust that a distribution will be made. or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can measured reliably and the charity has been notified of the executorfs intention to make a distribution. Where legacies have been notified to the charity. or the charity is aware of the granting of probate. and the cfileria for income recognition have not been met. then the legacy is treated as a contingent asset and disclosed if material. Donated services, facilities or assets are recognised when the charity has control over the item, any conditions asswated wth the donated item have been met. the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 1021, the general volunteer time of the Friends is not recc¥Jnised and refer to the Govemors. report for more information about their contribution. On receipt, donated professional Se￿1¢e$ and facilities are reccgnised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equsvalent economic benefft on the open market" a corresponding amount is then recognised in expenditure in the period of receipt. Income lax recoverable in relation to donations received under Gift Aid or deeds of covenant is recogni5ed at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 22

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 25r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting polieies {continuodl 2.8 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefft to a third party, it 15 probable thal a transfer of eGOllOtniG benefits will be required in 5ettletnent and the amounl of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared cost5 which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned betrween those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciab.on charges allocated on the porb.on of the assefs use. Support costs are those costs incurred directy in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governan￿ costs are those incuffed in connection with administration of the charity and compliance with constitutional and statutory requirements. Charitable activities and Govemance costs are costs incurred on the charitys operations. including support costs and costs relating to the govemance of the charity apportioned to charitable aclivilies. AJI expenditure Is indu5ive of Irrecoverab￿ VAT. 2.9 Tangible fixed assets and depreciation Tangible fixed assels costing £500 or more are capitalised and recognised Md)en future eeonomic benefits are probable and the c051 or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition. under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incu￿ed to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated usefvl lives, using the straight4ine melhod. Depreciation is provided on the following basis= Freehold property Improvements to leasehold properties Motor vehicles Fumishings and fitting5 Office equipment Workshop garden equipment 50 25% 200 200 250 2.10 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayrnents are valued al the amwnt prepaid net of any trade discounts due. 2.11 Cash at bank and in hand Cash at bank and in hand indudes cash and short-tem7 highty liquid investments wtth a short maturity of three nxjnths or less from the date of acquisFtion or opening of the depjsit or similar account. Page 23

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 26r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting polieies {continuodl 2.12 Liabilitias and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past evenl, it 15 probable that a Iransfer of eGonomiG benefit will be ￿qubred in settlement, and the amount of the settlement can be estimated reliably. Liabilitie5 are recognised at the amount that the Charity anticipales it wqll pay lo settle the debt or the amount it has re￿iVed as advanced payment5 for the goods or servi￿5 it musl provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the lime value of money is material, the provision is based on the present value of those amounts. discounted at the pre-tax discount rate that reflects the risks speafic to the liability. The unwinding of the discount is recognised in the Statement of finanryal activities as a finance cost. 2.13 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recojnised al transaction value and subsequently measured at their settlement value wth the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.14 Pensions The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. Critical accounting estirnates and areas of judgement Estimates and judgements are continualty evaluated and are based on histoftcal experience and other factors, including expectations of fvture events that are believed to be reasonable under the rcumstances. Critical accounting estimates and assumptions.. The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for income and expenses during the year. However. the nature of eslimalion means that actual outcome5 could differ from th052 e51imates. The following judgement5 (apart from those involving estimatesl have had the most 51gnfficant effect on amount5 recognised in the financial statement5. Tangible fixed assets Tangible fixed assets are depreciated over their usefijl lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the asset and projected disposal values. Page 24

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 27r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Ineoma from donations and legacies Unrestrieitsd funds 2023 Total funds 2023 Total funds 2022 Donations 17.504 104,892 17.504 104.892 5.204 Legacies 122,396 122.396 5,204 Total 2022 5,204 5,204 Income frorn charitable activities Unrestricted Restricted funds funds Total funds Total funds 2023 2023 2023 2022 Fees for care seNices 5,308.071 93.458 39,656 5.308.071 93.458 39.656 5.293.142 91.281 3.932 Residents. travel contributions Miscellaneous income 5,441,185 5,441,185 5,388,355 Total 2022 5,235,325 153.030 5,388.355 Investment income Unrestricted funds 2023 Total funds 2023 Total funds 2022 Interest receivable 11,468 11.468 400 Total 2022 400 400 Page 25

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 28r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Analysis of oxponditura on ehariiable activities Summary by fund typ Unrestricted ReStri￿0d funds funds 2023 2023 Total 2023 Total 2022 Care service c051s 4,925,621 572.919 4.925.621 572.919 4,656,977 517.531 Supwrt costs 5,498,540 5,498,540 5,174,508 Total 2022 5,021,478 153,030 5,174,508 Summary by oxpenditure type staff costs Depreciation Other costs 2023 2023 2023 Total 2023 Totsl 2022 Care seNice costs 4.019.861 365,207 127.267 778,493 207,712 4,925.621 572.919 4.656.977 517,531 SupFX)rt costs 4,385,068 127,267 986,205 5,498,540 5,174,508 Total 2022 4.133,443 110,087 930,978 5,174,508 Analysis of expenditure by activities Activities undertaken directly 2023 Support costs 2023 Total funds 2023 Total funds 2022 Care seNice costs Supwrt costs 4,925.621 4,925.621 572.919 4.656.977 517.531 572.919 4,925,621 572,919 5,498,540 5,174,508 Total 2022 4,656,977 517,531 5,174,508 Page 26

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 29r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Analysis of oxponditure by activities (continued) Analysis of support costs Total funds 2023 Total funds 2022 Wages and salaries Office costs Covid-19 expenses Subscriptions Bank charges Accountancy fees Interest payable Marketing, fundraising. entertainment Governance costs 365.207 140.015 301,282 122.541 32.121 14,844 3,509 7,600 12,181 15.153 8.300 17.657 4,325 8,135 26.231 6.284 5.065 572.919 517.531 Auditors. remuneration 2023 2022 Fees payable to the Charitrf5 auditor for the audit of the Chariws annual accounts 8.135 7,600 Fees payable lo the Chariws auditor in respect of.. Preparation of the Chariws annual accounts 3.865 3.600 10. Staff costs 2023 2022 Wages and salaries Soaal securty costs Contribution to defined contribution pension schemes 4.005.725 283,186 96,157 3.777,205 259,601 96,637 4,385,068 4.133,443 During the year, the Charity made redundancy payments of £Nil12022= £13,928) to Nil employees12022= bNO employees). Page 27

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 30r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 10. Staff costs Icontinuad) The average number of persons employed by the Charity during the year was as follows.. 2023 No. 2022 No. Care 166 159 Administration 12 13 178 172 The number of employee5 whose employee benefits (excluding employer pension costs} ex￿eded £60,000 was.. 2023 2022 In the band £60.001- £70,000 In the band £80,001- £90,000 During the year remuneration paid to key management personnel totalled £242.14312022.' £236.338). 11. Governors. remuneration and expenses During the year. no Governors received any remuneration or other benefits12022- £NIL). During the year ended 31 March 2023. no Govemor expenses have been incurred {2022- £NILI. 12. Tax on surplus on ordinary activities In the view of the Compan￿$ charitable status, no liability to UK corporation tax arises on any surplus for the year. Page 28

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 31r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 13. Tangible fixod assets Workshop Improvements Fixtures garden to leasehold and Office equipment properties flttlngs equlprnent and cars Freehold properry Total Cost or valuation At 1 April 2022 Additions 4781.443 589.679 98.617 234148 39.023 75.746 {3,861) 18.0591 (22,6511 102,763 228.184 5.445.155 704,448 {23,920) {58,4911 Disposals At 31 March 2023 5.371,122 133.779 301.835 80,112 204,264 6.091,112 Depreciation At 1 April 2022 Charge for the year On disposals 269,355 74,61)0 17,381 215.978 73,892 6,031 18,602 10,988 1981) 18.0591 (19.5601 189.695 766,301 17,046 127,267 {23,920) 152,5201 At 31 March 2023 343.955 22.431 226.521 65.320 182.821 841.048 Net book value At 31 March 2023 5.027,167 111,348 75.314 14,792 21,443 5,250,064 At 31 March 2022 4.512.088 81.236 18.170 28,871 38,489 4.678.854 Included in freehold property is freehold land al cost of £1,962,970 12022= £1.756.5831 which is not depreciated. Page 29

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 32r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 14. Debtors 2023 2022 Due within one year Trade debtors (including Residents) Other debtors 377.891 7.255 192.547 237.982 6.317 207,958 Prepayments and accrued income 577.693 452,257 15. Creditors: Amounts falling due wiihin one year 2023 2022 Bank loans Trade creditors (including Residents) Other taxation and social security other creditors AccTuals and deferred income 33.802 58.799 $8.883 164.084 132.312 32,097 40,776 61.920 128.413 112.707 447.880 375,913 Page 30

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 3V38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Craditors: Amounts falling due aftar more than one year 2023 2022 Bank loans Other loans 665,089 393,11S 104.892 665.089 498.007 Included wthin the above are amounts falling due as follows.. 2023 2022 Between one and two years Bank loans 35,531 188,651 Between two and five years Bank loans 76.608 204.464 Over five years Bank loans 552.950 Other loans 104,892 The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is.. 2023 2022 Repayable by instalments Repayable other than by inslalments 552.950 104.892 The other loan was an interest free and there are no fixed terms for repayment. The loan is secured by charge over the propety owned by the Charity. During the course of the year the legal charge was satisfied and the balance has been recognised as legacy income. DuTtng the year ended 31 March 2023, the charity took out a new bank loan. This loan accrues interest at a rate of 50A and is due for repayment 180 months after il was taken out in August 2022. Two bank loans were repaid during the year. Bank loans are secured with charges over assets with a combined cost of £589,678 12022.. £755.192), and net book value of £584,568 12022.. £721,424). Other loans are secured against all assels of Purley Park Trust. Page 31

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 34r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 17. stsiemeni of funds Staiement of funds - Current year Balance at 31 March 2023 Balance at 1 April 2022 Transfers inlout Income Expenditur8 Unrestricted funds Designated funds Property Repairs fvnd Fixed Assets fund 50.000 4.678.854 50.000 5.250.064 (127.26n 698.477 4.728,854 (127.267) 698,477 5.300,064 Gen8ral funds Accumulated general fund 801,250 5,575,049 15,371,273) (698,477) 306,$49 Total Unr8strict8d funds 5.530,104 5,575,04rJ 15.498.540) 5.606,613 Designated funds: The property repairs fund relates to amounts eamiarked for essential repairs to the tTUSt's properties. The fixed assets fund represents the net book value of the trust's fixed assets. The Trustees determined that the nel book value of the trust's fixed assets $I￿Uld be held in a designated fund to provide a better understanding of the trust's unrestricted funds. Restricted funds West Berkshire District Council Covid funding Total of funds 5.530,104 5,575,049 15,498,540) 5.606,613 Page 32

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 35r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 17. stsiemeni of funds {continuad) Staiement of funds - prior year Balance at 31 March 2022 Balance at 1 April 2021 Transfers inlout Income Expenditure Unrestricted funds Designated funds Property Repairs fvnd Fixed Assets fund 50.000 223,628 50.000 4,678.854 4.565.313 (110.0871 4,565,313 {110,0871 273,628 4,728,854 Gen8ral funds Accumulated general fund 745,340 5,240,929 14,911,391) 1273,6281 801,250 Total Unr8strict8d funds 5.310.653 5.240.929 15,021.4781 5.530.104 R8stricted funds West Berkshire District Council Covid funding 153,030 1153,0301 Total of funds 5.310,653 5,393,959 15,174,508) 5,530,104 18. Summary offunds Summary of funds - eurr•nt yaar Balanta at 31 March 2023 Balance at 1 April 2022 Transfers inlout Income Expenditure Designated funds General fvnds 4.728.854 801.250 (127,26n 5.575,049 15,371.273) 698.477 (698.477) 5.300.064 306.549 5.530,104 5,575,049 15,498,540) 5.606,613 Page 33

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 36r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. Summary of funds {continuadl Summary of funds - prior year Balance at 31 March 2022 Balance at 1 April 2021 Transfers inlout Income Expenditure Designated funds General fvnds Restricted funds 4.565.313 745,340 (110,0871 5,240,929 14,911,391) 153,030 1153,0301 273,628 1273,6281 4.728,854 801,250 5,310,653 5,393,959 15,174,508) 5,530,104 19. Analysis of net assets between funds Analysis of net assets between funds- current year Unrestricted funds 2023 Total funds 2023 Tangible fixed assets Current assets 5,250,064 1,469,518 1447,8801 1665,0891 5.250.064 1.469,518 1447,8801 1665,0891 Creditors due Mqthin one year Creditors due in more than one year Total 5.606.613 5.606.613 Analysis of net assets between funds - prior year Unrestricted funds 2022 Total funds 2022 Tangible fixed assets Current assets 4,678,854 1,725,170 1375,9131 1498,0071 4,678.854 1,725,170 1375,913) 1498,007) Creditors due Mqthin one year Creditors due in more than one year Total 5.530.104 5,530,104 Page 34

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 37r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 20. Reconciliation of net movement in funds to net cash flow from operating activities 2023 2022 Net Income for the year las per Statement of Flnanclal Acti￿tIes} 76,509 219,451 Adjustments for: Depreciation charges Interest paid on loan Dividends, interests and rents from investments Loss on the disposal of fixed assets Increase in debtors 127.267 26.231 111.468} 7,039 (125,436) 134,630) 110.087 12.181 {400) 123,754) 151,290) Decrease in creditors Net cash provided by operating activities 65,512 266,275 21. Analysis of cash and cash equivalents 2023 2022 Cash in hand 891.825 1.272,913 Tothl ¢ash and Cash oquivalents 891.825 1,272.913 Anatysis of changes in net debt At 1 April 2022 Cash flows At 31 March 2023 Cash at bank and in hand Debl due within 1 year Debt due after 1 year 1,272,913 132.09n (498.oon 1381.088} {1.705} (167.082) 891.825 133,8021 1665,0891 742,809 (549,875) 192,934 23. Pension commitments The company operates a defined contribution scheme in respect of its employees. Contributions are charged in the financial statements as incurred and there were oulstsnding contributions as at the balance sheet date of £nil12022.. £nill. Pension cost5 charged in the year were £96,15712022.. £96.6371. Page 35

VrbJJkgunurvTrarwoCbc￿ Ref. F6R&QPMR-CMJ7G >)OL 20YJ 17..41..29 GMT{Lrrc +0) D 1r2 P 38r38 PURLEY PARK TRUST LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 24. Operatingloase commttments At 31 March 2023 the Charity had commitments to make future minimum lease payments under non- cancellable operating leases as follows= 2023 2022 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 1.356 2,084 465 12,157 1,120 3,905 14,117 25. Related party transactions The Charity has not entered into any related paty transaction during the year, nor are there any outstanding balances owing btheen related parties and the Charity al 31 March 2023. The Charity has the following related parties= The Friends of Purley Park The Friends of Purtey Park is the successor trK)dy to the League of Friends, which was fomied in 1970 to raise fvnds with which to enhance the lives of the Residents. The Fiiends of Purley Park, although separate bo(ty, operates under the guidance of the GOvemc￿S ITrusteesl of Purfey Park Trust who retain responsibility for it. Controlling party The ultimate controlling party is that of the governors as stated on page 1. Page 36