Charity registration number 263381 (England and Wa1851 JOHN METCALFE PUBLISHING TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2026
JOHN METCALFE PUBLISHING TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr J Young Mr D Munday Chailly number (Engtand and W81881 263381 Charity number Iscolland) SC045871 Prln¢lpal addr•ss Church Road Tylars Greèn Penn Bvckinghamshlre HP10 8LN Indepgndent 8xamln•r Susan DrLmmond Rouso Partners LLP 55 Slatlon Road Beaconsfiel¢J Bucklnghamshke HP9 1QL
JOHN METCALFE PUBLISHING TRUST CONTENTS Pagè Trustèes. report Independent oxamlnerfs report Slalemenl of finandal 8cllvllle8 Balance sheet Nol8s lo the financial slalemenls 7-14
JOHN METCALFE PUBLISHING TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2026 The John Melcalle Publishing Trust was consliluled by a Twst Oe9d on 02.07.1973 and 15 a Registered Charity In England and Wales. No.263361 and a Charity Registered in Scolland. No.SC045871. Address.. Church Road, Tyle1¥ Green, Pn. Buckinghamshiffj. HPIO 8LN. The Charity Trustees ale.. Mr Danlol Mund8y, Mr John Young, Trustoes - all of whom are persons entirety in sympathy with the obj8cllvgs of the Trust - appolnled only by re$olLillon of a rneellng ol Ihe Iruslees. as staled In the TJusl Deed. The Trust's banker is the Nallonal Westmln$lw Bank. Oakfield Comer. Hill Avenua, Amersham. HP8 5BU. The Indep¢ndenl Examiner lor the account8 of the Tmsl Is Susan Drummond, Rouse Partners LLP, 55 Slallon Road, Beaconsfield. Buckinghamshlre. HP9 1QL The financlal slalemenls have bèen prepared in 8¢coid8nce with the accountrng policies s81 out In note 1 to the financial slalemenls and comply wtlh the Iru$l'$ governing document, the Charities Act 2011, FRS 102 'Tha Flnancial Reporting Slandard applicable In Ihg UK and Republic ol Ireland" and the ChariUÈs SORP "Accounting and Reporting by Charities.. Slalernenl ol Recommended Practice applicable to charfligs weparing their accounts In ac¢ordance with the Financlal Reporting Standard gppll¢able In the UK atKI Republic of Ireland IFRS.1021" Oblectlve The oblecl of th& Tiusl18 stsled In the Trust dgclar811on'. 'To promote Ihg Chrtstian lailh. and in partl¢ular lo womole Iho publl¢alion. printing... and the pr8achln9... of the evangel ol Jesus Christ, a$ ffjvealed by the Lord Jesus Christ and hls holy apostles. and rrded In Holy Scripture. As surfng the past fifty-thr8a yaars, the Trtl has conllnugd lo meet Ils stated otyeclive of benefiling tho wblic by publishing the evangel ol the Lord Jesus Christ by Ihe wdespread dlstribulion both in th8 Unrted Kingdom and abroad ol subsidised books and subslanlial liacts. and by prèachlng and leaching. Recorded tapes ol past le¢lures, leaching and addresses are fra8ty dlslributed. All publications ara made available al cost 1¢ persons and countdas of limited means. Productlon There Bre now forty-one book lilles, both hpidback and paperbath, and filly-eighl smaller literary works in print. The Mora Accurate Version of the New Teslamenl, translated from Ihe Received Tex¢ by the Rev John Melcalfe. Ss now available. Revlslons werè made of books lo sel forth in Ord th8 life and work of the LoTd Jesus Chrfsl. Printing is no longer ¢arried out in house. Organlsatlon The voluntary workers engaged Sn th¢ publishing of book5 and subslantial Iracls receive no compensation from the Trust. The book distributors vi511ing bookshops ar bookstalls provide their own travelling expenses. In thls way all gifts donated to tha Twsl go directty and èxclu3ivety lo the chatrtable work of publishing the evangel.
JOHN METCALFE PUBLISHING TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2026 Flnance5 The work Is not financed by any appeals for money or by any fund-ralslng schemes. No tax-saving devres are usod and no advertlsements are accepted. Gifts lo the Tnjsl ale preferably anonymou5, unless in rare casès Ihis Is not pos51ble. In such cases. the donors should be known lo the Tiusl., olherwse gifts are politely reluined lo the donor. Our dependence Is theiefore tspon Ihe Lord alone lor provision. so that we are kept trusting in him and not rnan, there belng no means whereby the donors can be knc**n by or receive praise fiom us. All praise 15 10 the Lord because his hand is in all that appears in Ihe dijnalions he Sends in answer to ovr peli110115 lo further the work of this charity. UnNersally recognised Outstandi Chri5Uan1Steralure Is thus made available al far18SS than C051 and, Sn many cases. al no cost al all to the readers. The reseNe3, e55enli81ty working capilal conlinualty replenished by gifts received. are kept al a $uffiaenl level lo meet foreseen annual gxpendilure on produ¢llon and the maintenance of equipment. Through prayer this work was raised up ol God an¢J by prayer done11 Is m8intaln¢d. The Lord gave the wd.. great wa5 Ihg company ol those that published il.. Psalm 68.'11. Mr D Munday Trustee Daled...%...£.:..%
JOHN METCALFE PUBLISHING TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JOHN METCALFE PUBLISHING TRUST I report lo the Trustees on my èxarninalion of the financial stat6marhts of John Melcalfe Publishing Trust {Ih& Irusl} for the year ended 30 Jung 2028. Responslbllltles and basls of report A8 the Trustees of the trust you ar8 responsible for the preparation of Ihe flnandal slalemenls In accordance with the requirements of the Charities Act 2011. I report in re3pecl of rny exarninalion of Ihg Irvsys financlal stalemenls caffied out under se¢llon 145 of the Charities Act 2011. In carrying out my ex8minalion I have followed the Directs"on5 given by the Charfly Cornm18sion under 5ectlon 14515llbl of the ChariliesAct 2011. Independent examlnèr's statement Your allenlion is ¢Jrawi lo the lact that the ch8rRy has prepared the flnanclal st8temenls In acwrdance wplh the relevant version of the Slatemenl of Rornmended Practice applicable to charftiès preparing their financial slalemenls In accordancè with Ihe Flnancial Reporting Standard applicablè In the UK and Republlc of Ireland IFRS 102) In preference Its Ihg Accounting and Reporting by Charftles.. Slalèmenl of Recommended Practice ssued on 1 Aprll 2005 whlch13 referred lo In Ihe extant regulallons but has now been withdrawn. l undeisland that thi3 has been done in order for the financlal statements lo prtsvlde a true and fair view in accordance vAlh UK G8nerallyAccepled Accounllng Practlc8. I havg complèted my exarninalion. I confim) Ihal no mo11grs havo come lo my allenlion In connecllon wlth Ihg examlnalion giving me cause lo believe that In any material re5pecl.' accounting records were not kept ièsp8¢t ol the trust as required by section 130 of th8 Chafittes Act 2011. the financlal slalernenls do not accord th thos6 r¥¢ord8'. or the linanclal slalemenls do not compjy wth th8 applicable requirèments conceming the fwm and conlenl ol financial statements sel out In the Charities {A¢counls and Reports) Re9ulallon$ 2008 other than any requlremenl that the financial slalemenls give a true and latr view, which i¥ nol a mal(er consider6d as part of an Independent examination. I have no ¢oncern$ and have come across no olher maltèrs In ¢onne¢iion with the exarnination lo whlch allenlion should be drawn Sn Ihls report in order lo 8n3ble a proper understanding of th¥ finan¢lal slalemenls lo be reached. Susan Drummond Rouse Partners LLP 55 Slalion Road Be8con8fipld Bucklngh8mshlra HP9 1QL
JOHN METCALFE PUBLISHING TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2026 Unrestrfcted Unr95tricted funds funds general deslgnated 2026 2026 Total Unreslricled Unreslricled funds funds general deslgnated 2025 2025 Total 2026 2025 Notes Incomè from.. Donations and legacieB Charllable acllvlllos Inve$lmonl8 70.637 36B 70.637 368 34,490 74,529 162 74,529 162 54.711 34,490 54,711 Total Income 71.005 34.490 105,495 74,691 54,711 129,402 Ex endllure on: Charilablg 8clivilles 16,779 16,779 21,162 21,162 Nel Incomlng resources befor• transfers 54.228 34.490 88,718 53,529 54,711 108,240 Ntt Income for the yearl Ntt movement In funds 54,228 34,490 88.716 53.529 54,711 108,240 Fund balances 911 Ju 2025 1,555.118 1.250,781 2,805,897 1,501,587 1,196,070 2,697,657 Fund balances al 30 June 2026 1,809,342 1.285.271 2,894,613 1.555,116 1.250,761 2,805,897 The slalernenl of ftnanclal 8Ctlvile$ indudes all galn5 and losses recognised in the year. The slalernenl of financial activilles Include$ all galn8 and1088es recognlsed In Ihe year. All Inme and expenditure dertve trom contlnulng act11{e¥.
JOHN METCALFE PUBLISHING TRUST BALANCE SHEET AS AT30 JUNE 2026 2026 2025 Notes Flxed assets Tangible as58ls 11 6,899 8,875 Currarbt assets Stocks Debtors Cash al bank and In hand 12 13 198,339 4,112 2.689.639 198,529 4,317 2.598.246 2.892,090 2,801,092 Credltors: arnount5 falllng duo wlthln one year 14 14,376) 14,0701 Ngt ¢urr•nt as8¢ts 2.887,714 2,797,022 Total assets less current Ilabllltl*$ 2,894.613 2,805.897 Th¢ funds of Ihg trust Unreslricled funds- general Unrestricted funds- designated 1,609,342 1.285,271 1.555,116 1.250,781 16 2.894.613 2,805,897 The Ilngnclal Slalements w8r8 approved by the Trustees on.. Mr D Mund8y Truslèg
JOHN METCALFE PUBLISHING TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2026 2026 2026 Notes Cash flows from operating aclivitles Cash generated from operations 56,903 58,154 Investlng activities Inve51menl income reeelved 34,490 54,711 Net cash 9onerat8d from Inve$tlng actlvllles 34,490 54.711 Net cash used In flnanclng act5vStles Net Incrga$• In ra$h pnd cash equlvalents 91,393 112.865 Cash and cash equlvalenls al beglnning of yoar 2.598,246 2,485,381 Cash arbd cash 8qulva16nts at ènd of ygar 2.689.639 2,598.248
JOHN METCALFE PUBLISHING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2026 Accounung pollcles Charlty Informallon John Melcalfe Publi5hlng Trust was conslltuted by a Trust Deed on 02.07.1973 and is a Registed Charity in England and Wahs, No.263381 and a Charily Registered in Scolland. No.SC045871. 1,1 A¢countlng conventlon The financial sl8lemenls have been prepared In accordance wilh the Irusl's governing docvm8nl, the Charities Act 2011. FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charilles SORP "AG¢ounb"ng and Reporting by Charities.. Slalernenl of Recomrnended Practice appllcable lo charille8 preparing their a¢¢ounls in accordance with Ihe Financial Reporting Standard applScable In the UK and Republic of Ifeland IFRS 102}". The Iiusl Is a Public Benefit Entity as defin6d by FRS 102. The financial 31818mants have departed from the Charflles (Accounts and Reports) Regulauons 2008 onty lo the exlenl requir8d to Provide a true and fair view. Thls departure h35 inYolv8d following the Stalernenl ol Recommended Pracllce for ¢hariUes applylng FRS 102 ralher than the verslon ol Ihg Slalernenl ol Recommended Pracllce whlch Is ferred lo in Ihe Regulations bul which has since been withdrawn. The financial slalefflenls are prepared In slertlng. whlch Is the functlonal trneY of Ihg ¢wsl. Monetary amounts In these financial slalernenl$ ar& rounded lo Ihe n6aresl £. The flnanclal stalemenls have been prepared under the hlslorfcal cost convenllon.Th8 nCIpal accounttng pollcles adopted are sel out below. 1.2 Golng ¢oncgTn Al the Ilmè ol approvlng the finan¢lal 8lal&menl$, Ihe Trustees have a reasonable expectation Ihal the Irusl has adequ819 resources to continue In operational exislenco for the loreseeabje future. Thus Ihe Tru8leÈ5 continue lo adopt the golng concern basis of accwnling in preparing the fin8nclal slalemenls. 1.3 Charltable lunds Unr881ricled funds are available for use 81 Ihg dlscrnlion of tha Trustees In furtherance of Iheli charflable objectives. 1.4 Incomlng Resourcey Income 13 recogni3ed whèn the Irusl is legalty enlilled lo il after any perforrnance condillons have been mel, the amounts can be measured reliabty, and il is probable that income wll be received. Cash donations are recogni5ed on recelpt. Other donallons ale recognlsed once the trust has been notiffed tsf the donation, unless perforrnance conditions requi1 defertal of thè amount. Income tax recoverable in relation lo donallons rgceived under GiftAfd deeds of covenanl is recognlsed al the timè of the donafjon. Legacie¥ arg recognlsed on receipt or olhemse il the trust has been notified of an impending dislribulion, the amount 13 known. gnd recelpt is expected. 11 the amount is not known. the legacy is treated as a conlngenl asset. 1.5 Resources Expended Expenditure is accounted for on an alxrual basrs aThl has been cla$5ified undèr hèadlngs that aggrègate all C051 re181ed lo th8 Category. ere costs cannot be direclty allribuled lo particular heading5 they have all been allocated lo activities on a basis consistent ith the use of sOurces.
JOHN METCALFE PUBLISHING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2026 Accountlng pollcles Icontlnuedl 1.6 Tanglble flxed ass&ts Tangible fixed assets are inillally measured al cost and subsequenlly rneasured al cost or valuallon, net ol depreciation and any impairment losses. Depreclallon Is recognlsed so as lo write off the cosl or ¥afu8llon of as8els less their re3idual values over Ihelr useful lives on thè following bases.. Plant and equipment Fixtures and fittings Cornpuler8 M¢lor v¢hlcl$$ 15% reducing balance 1S% reduang balancg 25% reduung balance 25% reduc¢ng balance The galn or loss 8rlslng on the disposal of an asset Is delennined as the difference between the Bale proceeds and th$ carrying value of Ihe assel, and is recogn15ed In the slalemenl of financial aclivilies. 1.7 Impalnnenl of flxed assets Al each reportlng ènd dale, the tru81 reviews Ihe carrying amounls ol It8 langlblè 838813 lo ¢J8lerniine whether there Is any Indlcallon that those assets havè suffOTed an lrnpairmenl 105s. If any s¢Jch indication exists, the recoverable amount of the asset is eslimaled In order lo delemiine the exlenl ol the impaiim¢nl loss lif any). 1.8 Stocks Stocks are slated al th8 lower ol 81 and eslirnaled selllng prfce 1888 co$1$ lo ¢omplete and sell. Cost comprises dlrecl maledals and. where applicable. direct labour $15 and those overheads that have been Incurred In bringing the stocks lo their present 10¢81ion and condition. Ilems held for dislrfbltlion 81 no or nominal conslderalion are measured Ihe lower olieplacemenl cost and cost. Nel r8811sable valu& 18 Ihtr e8llmaled selllng prke 19$$ all ostimaled costs of cornplellon aThJ costg to be Incurrad In markellng. Selling and dislrtbullon. 1.9 Cash and ¢a$h ¢4ulvalonts Cash and ¢8$h equivalents include cash In hand, depo$il$ held al call with banks, other short-lerm liquid Inveglmenl5 with original malurilles of ¢hree monlhs OT le. and bank overdrafts. Bank ov0rdraft8 ara shown wilhln borrowings in ¢urrenl liabilitie3. 1.10 Flnanclal Instruments The trust ha5 elected lo apply the provisions of Seclion 11 'Basic Financial Instruments, S¢¢tion 12 '0V)er Flnancial Instruments Issuas, ol FRS 102 to all of its financaal instrumen1& Flnanelal instruments are recognised in the Irusl's balan¢8 sheel when the trust becomes party to the conlraolual provisions of the instrument. Financlal assets and liabllitl85 a Dftsel. with the nel amounts presented In tho finandal slalernents, whe there is a legally enforc8able right to set off the recognised amounls and Ihèie is an intention lo sellle on a net basis or lo realise the asset and 5elll8 th& liability simultaneously. 8a5ic financial assets Basic financial as5els. which indude debtors and rash and bank balances. are initially measured al IransaGlion price induding transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement conslilule5 a financing transaction, vtheie the transaction is measured al the present value of the future receipts discounted al a Maet rdle ol inteiesl. Financial assets classified as receivable wthin one year are not amortised.
JOHN METCALFE PUBLISHING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2026 Accountlng pollcles Icontlnugdl Basic Ilnancialliablllfles Basic fi'nancial liabilities. including crgdilor5 and bank loans are initially recognlsèd al tran$8Ctfon price unless the arrangement conslilules a finanGing Iransadion. where the debt instrum8nl Is rneasuled al th8 presenl value of the future payments dlscounled al a market rate ol inlaresl. Financial liabilities classified as payable wllhln one year are not amortised. Debt Inslrumenls are sub8equenlty carrfed at •mortlwl cost. uslng Ihe effectlve interest rate math&J. Trade creditors are obligations lo pay for good8 or SeiCe$ that havè been acqulred In the ordinary CQUf59 of operallons from suppliers. Amounts payable are cfassifred as curcenl Ilabilllles if payment Is due within one year or less. If not, they are presented as nOrcUrrent liabllitlgs. Tr8de creditors are recognised initially 81 Iransactlon prlc• and $Ltbs¢quenlty rneasured al amortiS8d cost u51ng the effective interest method. D8recognitlorJ of flnan¢lal Ilabllltles Flnanclal liabililles are derecognlsgd when the tnjsfs lntraCbjaI obllg8llon$ oxpire or ar8 dl8th8rged or cancelled. Crltlcal accounllng estlmatgs and Judgements In the appllcalion of the Iru51'5 accoun15ng polldos, Ihè Trusleos are req¢Jired lo make jvdgemanls, 8stimale$ and assumptions about the carrylng amount ol a$se13 and Ilabililies that are not readily apparent from other sources. The estimates and assoclatèd 9$5umpllons are based on historical experfence and other laclors that are consldefed lo bg r¥l$vanl. Actual results may differ trom th88• èsts'male8. The eslimales and underlying assumptions are reviewed on an ongoing basis. Revi$lon$ lo a¢¢ounllng esllmales are recognlsed In the perSod in whlch the estimate Is revisad whore the revi31on affects only that Pgrlod, or In the pedod of the fovlslon and fvlure perfods vth8ro Ihe ievislon affects both rrent and future perlod3. Income from donallons and legaclos Unr•strlct8d funds 2026 Unrastrl¢led funds 2025 DongllonB and grfls 70,637 74,529
JOHN METCALFE PUBLISHING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2026 Char51ablè actlvlties Sale of Sale of publlcatlon5 publlcatlons 2026 2025 Sales of publl¢8llon8 368 162 Ineom• from Investments Unrestrlcted Unrèstrlctgd funds funds de81gnated deslgnaled 2026 2026 Interest recelvable 34.490 54,711 Charttable a¢llvltle$ Productlon Producllon of of publlcatlons publlcatlons 2026 2025 Telecommunications Motor and Tr8vel Expenses Llghl and h&al Bank charges Cost ol Books Sold 2,569 4.802 2.946 42 394 2,403 6,C63 4.871 349 10.753 13,686 Share of 5UPPOrt costs (see not& 71 Share of govemance cos15 (see note 71 1.978 4.050 2,576 4.900 16.779 21.162 10-
JOHN METCALFE PUBLISHING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2026 Support costs support Governancè costs costs 2026Support costs Govemance cost$ 2025 DapreclalSon 1,976 1,976 2.578 2,576 Audit fees Accountancy 2,000 2.050 2.000 2,050 2,000 2.900 2.000 2,900 1.976 4,050 8,028 2,578 4.900 7,476 Analysed beiween Charitablè acllville¥ 1.978 4,050 6.026 2,576 4.900 7.476 Truste89 None of the Trus1898 lor gny pernons connected with Ih8ml r8¢elved any remunerallon or bonefils from the trust during Ihe y8ar. Employees Thar8 wer8 no employees duilng the y8¥. 10 Taxallon The chalily Is exempl from laxalton on rts actfvllles becausg all its ir*come18 applied for charilabl¥ purptssos. 11 Tanglblg flxed assots Plantand Flxlurqs and •4ulpment f(ttlng8 ¢omputor• Motor hlcles Total Cost Al 1 July 2025 55.061 22,528 15.205 1S5,000 247.794 At 30 June 2026 55,061 22.528 15,205 155.000 247,794 Depreclalion and Impalrment At 1 July 2025 Dapreclalion Charged in the year 53.401 249 21.760 115 15,194 148.564 1.609 238,919 1.976 AI 30 June 2026 53,650 21.875 15,197 150.173 240,895 Carrylng amount AI 30 June 2026 1.411 653 4,827 8.899 AI 30 June 2025 1.660 768 11 6,436 8.875 11
JOHN METCALFE PUBLISHING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2026 12 Stocks 2026 2025 Finlshed goods and goods for ro3ale 198.339 198,529 13 Debtors 2026 2026 Amounts falllng due wlthln on• year Other debtors Prepayments and accrued Income 243 3.869 252 4,065 4,112 4,317 14 Crédltors: amounts falllng du• wlthlrt on? yoar 2026 2026 Accruals and deferred Income 4,376 4,070 15 Unre5trlcted fund$ d¢$lgnated Al 1 Juty 2026 Incomlng r•sour¢a$ At 30 June 2026 1.250.781 34,490 1,285,271 Pravlou$ year: At 1 July 2024 Incomlng ré$our¢es At 30 June 2026 1.196.070 54,711 1,2SO,781 16 Unrestrlct8d fund¥ At 1 Juty 2025 Incomlng resourcès R850urces expended AI 30 June 2026 General funds 1,555,116 71.005 (16,779) 1.609,342 12-
JOHN METCALFE PUBLISHING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2026 16 Unrestricted funds Icontjnuedl Prevlous year: At l July 2024 Incoming resources Resources expended At 30 Jun& 2025 Gener81 funds 1,501.587 74,691 {21,162} 1,555.118 17 Analysls of nat assets botW8on funds Unre$trl¢ted Unr8strlcted funds furtds general des5gnated 2026 2026 Total 2026 AI JO June 2026.. Tanglble 3ss¥ls Current asselsllllablllllesl 6.899 1.602.443 6.899 2.887,714 1,285.271 1,609,342 1,285.271 2.894,613 Unr•strletad Unrestrlctod funds funds y•n•ral d•slgnaled 202S 2025 Total 2025 At 30 June 2025.. Tangible 8$8els Current 888el8llllablli11&81 8.875 1.548.241 8,875 2,797.022 1.250,781 1.555.118 1,250,781 2,805,897 18 Rèlatèd party tran¥a¢tlon$ There were no dlsdosable related paty Iransacllons during tho year12025- none). 13-
JOHN METCALFE PUBLISHING TRUST . NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2026 19 Cash generated from opgrallons 2026 2026 Surplus for thè year 88,718 108,240 Adjustments for.. Inveslrnenl income recogr5ised in slalemenl ol finandal actlvilles Depreclalion and impairment ollangiblè fixed assets 134,4901 1,976 154,711} 2.576 Movèments In worklng capltal.. Decrease in stocks Decrease In debtors Increas8 Sn uedilor¥ 190 205 308 89 318 1,642 Cash generated from operallon$ S6,903 58,154 20 Analy$ls of ehanges In net funds The tru81 had no maleilol dabl (Jurln9 the year. 14-