THE BRITISH ASSOCIATION FOR PSYCHOPHARMACOLOGY FOR THE YEAR ENDED REGISTERED CHARITY NO.. 277825 REGISTERED COMPANY NO.. 5866899 Sandison Lang Limited 2 St Ma$ Road Tonbridge Kènt TN9 2LB
THE BRITISH ASSOCIATION FOR PSY Director5. Report Independent Examinerfs Report Statement of Financlal Actlvltles 9-10 Balance Sheet 11-12 Cash Flow stament 13-19 Notes to the Accounts
THE BRITI IATI MA GY CHARITY NO: 277825 COMPANV NO: 5866899 REPORTOFTHETRUSTEES for the ar ended 31" December 2025 The tru5tee5 who are also directors of the charity for the purposes of the Companies Act 2006, prent their report with the financial statements of the charity for the year ended 31" Decèmber 2018. The trustee5 have adopted the provisions of Accounting and Reporting by Charitie5.' Statement of Recommended Practice èppllcable to charities preparing their accounts in accordance with the Financlal Reporting Standard ppli¢able the UK and Republic of Ireland IFRS 1021 leffective I" January 20151. Governlng document The charity is controlled by its governlng document. a deed of trust, and constitutes a lIme4 companvi limited by guarantee, as defined by the Companies Act 2006. Reference and Admlnlstrative Detalls Reglsiered Company number 05866899 IEn8land and Wale51 Reglstered Charity number 277825 Re8tstered office 36 Cambrid8e Pla Hills Road Cambridge CB2 INS Independent Examlner Mr Ryan Cottington ACA Sandison Lang Limited 2 St Mary's Road Tonbridge Kent TN9 2LB Cont'd.....
THE BRITISH CIATION FOR PSYCHOPHARMACOLOGY CHARITY NO.. 277825 PANY N REPORT OF THE TRUSTEES for the ear ended 31" December 2025 Alms and Oblectlves To advance education and research in the science of psychopharmacolo8y for the public benefit and to publish the results of suth resèarch and in furtherance of that object but not further or otherwise the Asso¢latlon shall have the following powers.. To bring together all per50n5 involved or interested In the screntifk study of psychopharmacology by arranging sclentlflc meetings. semSnars and study groups for the purposes of promotlng the practice of psychopharmacology. developing the subject matter and dissemirnating those developments for the benefit of the public To provide guSdance and Informatlon to the public on malters relevant to psychopharmacology, as appropriate bl Incorporatlon On 5July 2c4)6 the BAP was incorporated under the Companiès Act 1985 as a private company and the company 15 limited. Activities durin8 2025 The AssociatSon held fourteen stientific and educatonal meeting5 throughout this period. including six Modules of the BAP Certificale in Clinical P5ychopharrnacolgBY, the annual BAP Summer Meeting Iheld in Manchester 29 June to 2 July) and six Masterclasses in Clinical Psychopharmacology and the Non-cllnical Residential Course. Awards made during 2025 included fNe BAP P5ychophaTrna¢ology Awards. eleven Poster Prizes lin assouation with the summer meeting). the Lifetime Achievement Award, the Outstanding Contribution Award, four Undergraduatè Awards and three Public Communicallon Prizes. BAP provided numeTOUS bursaries to support vounger members, an(J underÈraduales' attendance at the summer meeling and also awardèd three Robert Kerwin International Conference Bvrsaries and one Hannah Steinberg Award. BAP also supported ten Summer Research Internship Projects and two In Vivo awards. BAP rènewed Its membershlp of the Royal Society of Blology. Understandlng Anlmal Research and the Foundation for Science and Yechnologv. The BAP Online Continuin8 Professlonal Development Resource underwent further development and expanslon. Future Aciivities SÈven Cllnical Certificate modules. and Six Masterclasses in Clini¢al Psychopham)acology13 of whlch will be online events) will be held in 2026. The 2026 Summer Meeting will be held in Birmingham. Llalson with other relevant group5 will continue where appropriate and may Include BAP takin8 exhibition space at exlernal events to promote the AssocSation. The BAP will continue to strive to bring together all distiplines in psychopharmatology and this effort wlll be maintained in the toming year.
THE BRITISH ASSOCIATION FOR PSYCHOPHARMACOLOGY CHARITY NO.. 277825 COMPANY NO: 5866899 REPORTOF THETRUSTEES for the ar ended 31, December 2025 Reserves Pollcy The BAP Reserve5 PolKy is defined Sn terms of the investments in bonds and unlt trusts and excludes the value of the BAP office buildin8 at 36 Cambrld8e Place. Cambridge. The BAP will aim to maintain a mlnlmum of two-and-a-half years. expendlture In reserves. R5sk Management The Trustees have examined the risks which the charity faces and confirm that systems have been established to regularly vIeW such risks. Truste•slDlr•rtOT5 President.. Piesident-elect.. Past President-. Honorary TreasurÈr= Honorary General Secretary: Meetings Secretary- Secretary for Cllnlcal External Affairs.. Secretary for Non-clinical External Affairs.. Professor Catherlne Harmer, University of Oxford Professor Naomi Fineberg. Unwersity of Hertfordshire Profe550r David Baldwin, University of SouthamptDn Professor Anthony Vernon, Kin$ College London Dr Dlgby Quested. University of Oxford, term bÈ8anJuly 2025 Profe55or Su5annah Murphy. University of Oxford Profe550r Carmine Parlante. Kin<s College London Professor Angela Roberts, Unlversity of Cambridge, term began July 2025 Dr Alex Pike, Unlversity of York Dr David Did(en5, University of Liverpool Dr Hannah Clarke, University of Cambridge Professor Valeria Mondelli. King's College London Dr Jonathan Rogers, University College London Professor Pradeep Nathan, lj'oined July 202SI Dr Paris Lalousis. KinB'S Colle8e, London Iterrn began luty 20251 Dr Riccardo Oe Giorgl. University of Oxford Iierm began July 20251 Dr Satsh Afmond. Mission Therapeutic5 Ire5igned July 20251 Dr Sameer Javhar. Kin<s College London (term ended July 20251 DT Madeleine Kln& Unlverslty of Nottin8ham, Secretary for Non-aini¢al External Affalrs (tèrm ended July 20251 Dr Digbv Quested, University of Oxford (term ended july 20251 Professor Rachel Upthegrove, Vnlversity of 8irmlnBham, HonDrary General Secretary (term ended July 20251. No Tru5teelDirertor recelved any remuneration durln8 the year.
REPORT OF T EDIRE ORS OF THE BRITISH ASSOCIATION FOR P CHARITY NO: 277825 COMPANY NO: 5866899 REPORT OF THE TRUSTEES for the ar ended 31" December 2025 statement of Trustees Responslbillties The trustees (who are also the directOTS of British Association for Psychopharmatology for the purposes of company lawl are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting standar (United Kingdom Generally Accepted A¢countlng Practice) Company law require5 the trustee5 to prepare finandal statement5 for each financial year whlch give a true and fair view of the State of affairs of the charitable mmpany and the incomin8 resour$, including the Income and expenditure, of the charitable company for that perlod. In preparlng those financial statements, the trustees ale required to select suitable accountin8 policie5 and then apply them consistentlv observe the methods and prlnclples In the Charity SORP; make judgements and estlmates that are reasonable and prudent- prepare the financial statements on the golng concern basls unles5 it 15 inappropiiate to presume that the charitable company will continue in bvslness. The trustees are pOnSIble for keeping proper accounting rerords whi¢h disclosè with reasonable accurary at any tirne the flnanual posttlon of the charitable company and to enable them to ensvre that the financial statements comply wlth the Companies Act 2006. They are also responslble for safeguarding the assets of the charllable company and hence for iaking reasonable steps for the prevention and detection of fraud and other irre8ularitles. Signed- Professor Anthony Vernon Honorary Treasurer- on behalf of the Directors Dated.. ..2026
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THE BRITISH ASSOCIATION FOR PSYCHOPHARMACOLOGY Indèpendent examlner's report to the trustees ol Brltlsh Assodatlon for Psychophambacdogylkng Company'l I report to the charlty trustees on my examination of the accounts of the Company for the year ended 31 December 2025. Responslbllltles and basis of report As the charity's trustees of the Company land also its diredors for the purposes of company lawl you a responslble for the preparatlon of the accounts in accordance with thè requirements of the Companie5 Act 20061.the 2C()6 Act'l. Having satisfied myself that the account5 of the Company are not required to be audited under Part 16 of the 2006 Act and are eli8ible for independent examination, I report in respect of my examination of your charity's accounts a5 carried out under sectlon 145 of the ChaTitie5 Art 20111'the 2011 Act'l. In carryin8 out my exarnination I have followed the Directlons given by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examlner's Statement Slnce your charitvs 8ross Income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a re815tered member of ICAEW which is one of the Ilsted bodies. I have completed my examinatlon. I confirm that no matters have CDme to my attention Sn connection with the examlnation glving me cause to belleve.. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Att,. or the accounts do not accord with those records: or the accounts do not comply wtth the accounting requlrements of sectlon 396 of the 2CQ6 Att Other than any requirement that the accounts gi¥e a true and falr vlew which is not a rnattÈr considered as part of an independent Èxamination,. or the accounts have not been prepared in accordance with the mèthods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accovnts in accordance with the Financial Reporttng standard applicable in the UK and Republlc ol Ireland IFRS 10211. I have no concerns and have come across no other matter5 in connection with the examination to which attention should be drawn in thls report in order to enable a proper understandirE of the accounts to be reached. Mr Ryan Cottin8lon. ACA Sandison LanE Limited 2 St Marfs Road Tonbridge Kent, TN9 2L Date..
THE BRITISH ASSOCIATION FOR PSYCHOPH STATEMENT OF FINANCIAL ACTIVlllE5 ar ended 31" December 2 INCOME AND ENDOWMENTS FROM 14ote5 Restrided Unrèstrlcted Total Funds Funds Funds 2025 Totsl Funds 2024 Donatlons and Legacies Membership Subscriptions Donation5 52,396 16,C#XJ 52.396 16.000 50,767 othertradlng aclNities Journal of Psychopharmacology Book Sale5 1 Royalties 216,311 8,145 216.311 8,145 211,060 11,711 Investment Income Bank interest Oividen(Js 18.634 24,013 18,634 24,013 21,406 15,402 Charitable actlvltles Meeting income Meeting income (prior years) Onllne CPD Resource 512,629 1.610 54.462 512,629 1,610 54,462 522,799 589 57.270 Other Income Other income Total incomlnl resour 904,2CH) 904,200 £901,004
THEB IT IATI PHARMACOLOGY STATEMENT OF FINANCIAL ACTIVITIES EXPENDITURE ON Notes Restrirted Unrestrlcted Total Funds Fund5 Funds 2025 Tot41 Funds 2024 Charitsble actlvltles Journal of Psychopharmacologv Subscription and book costs Meeting expenses BAP Inltiatives Prizes Research Internshlps Certificate expenses Affiliation io Other Societies Secretarial and other staff cost5 Assistance fees Recruitment Computer systeml50ftware/5eNer support Printin& p05ta8e and stationery Donations 99 5,609 513,840 1,882 5,609 513,840 80,982 4.150 21,000 490,327 47,557 3.860 25,5LMJ 190 2,227 148,716 25.389 80.982 4,150 21,000 2,791 235,142 27,520 818 2.791 235,142 27,520 818 14,265 1.658 14,265 1,658 8.284 6,834 Support Costs Office insuran Repairs and maintenan Council tax and watei Lbght and heat Cleaning Telephone tosts 471 947 3,886 90 80 2,377 471 947 3.886 90 80 2,337 528 4,383 1,901 960 3,587 E 111 Bank and card processi charBes Sundry expenses Advertising Oepreciation Council meetirygs expenses Accountancy Management charges Payroll service costs 12.027 3,876 12,027 3,876 11,172 4,261 2,001 10,987 13,426 4,430 17,082 145 10,510 40,430 8.860 17,586 1,182 10.510 40,430 8.860 17.586 1,182 Total resources expered 80.982 929.913 1.010,895 835,630 Net Galns/lLossesl on Investments 138,389 138,389 83,841 IEXPENDITUREII INCOME 180.9821 112,676 31,694 149,215
THE BRrri H ASSOCIATION FOR PSYCHOPHARMACO STATEMENT OF FINANCIAL A TIVITIE RECONCILIATION OF FUNDS for the ar ended 31, December 2025 Note5 Restrlcied Unrestrfcted Funds Funds Total 2025 Net IExpendlturel I Income for the Year Total Funds brought forward 180,982} 101,973 112,676 2.660,570 31,694 2,762,542 Total Funds carried forward 20.991 2.773.246 2.794,236 Continuing Operations All intome and expenditure has arisèn from contlnuing activities.
oc Tl PHARMACOLOGY BALANCE SHEET a5 al 31" Decem r 2025 Nvtes Unrestrlcted Restrfrted Funds Funds Total Funts 202S Total Funds 2024 Fixed Assets Tangible assets Investments 199,400 2,075,893 199,400 2,075,893 208.758 1,913,525 2,275,293 2.275,293 2,122,283 current Assets Debtors Cash at bank 163.191 413,265 163,191 434,256 172.292 517,412 20,991 576,456 20,991 597,447 689.704 Creditors Amounts fallinB due within one year 178.5031 178,5031 149,4451 Net Current Assets 497,250 20,991 518,943 640,259 Total Assets Less Curreni Llabllttles 3,349,701 20,991 2,762.542 Net Assets 2.773.245 20,991 2,794,236 f2,762.543 FUNDS Unrestficted Fund5 Restricted Funds 2,773,245 20,991 2.660,570 101.973 2,794,236 2,762,543
HE BRITI CIATION FOR PSYCHOPHARMACOL BALANCE SHEET s at 31" December 2025 The charitable company Is entitled to exemption from audit under section 477 of the Companies Act 2006 for the year ended 31 December 2025. The members have not required the company to obtaln an audit of its finantial statements for the year ended 31 December 2025 In accordance with Section 476 of the Companies Act 2¢JO6. The trustees atknowledge thelr responsiblllties for al ensuring that the charitable company keeps accounting records that Comply wlth Sections 386 an 387 01 the Companies Act 2006 and bl preparing financial 5taternents which 8ive a true and falr view of the State of affairs if the charitable company as at the end of each financial year and of 115 surplus or deflclt for each financial year in accordance with the reqU1MentS of Sections 394 and 395 and which othetWi5e comply with the requirements of the Companies Art 2006 relating to financial 5tatementS, 50 fai as applicable to the charltsble company. 25-06-26 The financial Statements were approved by the Board of Trustee5 on ...................-........................................... and were slBned on Its behalf by.. Professor Anthony Vernon- Trustee 10-
OCIAT AR CASH FLOW STATEMEN M¢tes 2025 2024 Cash flows from operating activities= Cash generated from operations 183,0871 17,8721 Net cash provided by (used in) operatlon actlvitles 183.0871 17,8721 Cash flows from investin8 activities= Purchase of tangible flxed assets Purchase of fixed assets investments Interest received 11,1521 1.082 1,144 Net cash provided by lused in) investin8 auivities 170 1,144 Change In cash and cash equivalents in reporting period Cash and $h equivalents at the beglnning of the reporting period 183,1571 16,7281 517,412 524,140 Cash and tash equSvalents at the end of the reporting period 434,256 £517,412
THE BRITISH ASSOCIATION F R PSYCHOPHARMACOLOGY NOTES TO THE CASH FLOW STATEMENT for the ar ended 31" December 2025 RECONCIUATION OF NEf INCOMEIIEXPEI4DvRE) TO NET CASH FLOW FROM OPERATING AcnvmES 2025 2024 Net lexpenditurell incorne for the reportlng perlod las per the statement of flnancial activities) Adjustments for- Depreciation charges Losses/lGainl on Investments Dlvfrdends received on Investments Management charges on Investments Interest received on Inve5tment5 Interest reiVed on Cash at bank Iincreasel / Decrease in debtor5 (Detreasel / Increase In creditors 31.694 149,215 10,510 1138.3891 124.0131 17,586 117,5521 11.0821 9,101 29,058 10,987 183,8411 115,402 17,082 {20,262 11,144 118,3671 146.1401 Net cash provided by lused inl operatlng aCtltIeS £183,087) £17,872) 12
RITI PHARMACOLOGY NOTES TO THE ACCOUNTS for the ar ended 31" December 2025 Accounting PollcSes Basls ol preparlngthe flnancl?I statements. The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accevnting and Reporting by Charities-. Statement of Recomrnended Practice appIable to charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iieland IFRS 1021 (effective I"January 20191. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 20(. The financial Statements have been prepared under the historital Cost Convention wlth the exptIOn of investments which are in¢lude¢J at market value, as modified by the revaluation of certain assets. Income All income is reeognlsed in the Statement of Financial Activities once the charity has entitlement to Ihe fund5, It is probable that the income will be reiVed and the arnounl can be measured reliablv. Expenthture Liabilities are recognised a5 expenditure as soon as there 55 a legal or constructive obligation comrnitting the charity to that expenditure, it is probable that a transfer of economic benefits will be required in setilement and the amosjnt of the obligation can be measured relrably. Expenditure 15 accounted for on an accruals basis and has been classified under headTrnBs that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headin8S thèy havè been allocated to activities on a basis consistent with the use ol resources. ranBlble ftxed ass$ Depreciationls provided at the followlng annual rates in Order to write off each asset over its estimated useful life on the following bases= Property Equipment Fixtures and Fittlngs 5% reducing balance basls - 25% reducing balance basis - 25% reducing balance basis Flxed asset Investment5 Investments are initially recognised at their tfansaction value and subsequently measured at their fair value as at the Balance Sheet date using the closin8 market value. Taxation The charity is exempt from corporatSon tax on its charitable artivities. Conyd..... 13
THE BRITI H ASSOCIATION FOR PSYCHOPHARMACOLO NOTES TO THE ACCOUN for the ar ended 31" December 202 Fund accountln8 Uniestricied funds can be used in accordan with the ¢haritsble oblectlves at the discretion of the trustees. Restricted fund5 can only be used for particular restricted purposes within the objects of the charity. Restrittlons arise when specified by the donor or when funds are raised for particular restricted purposes. Designated funds a unrestrlcted funds that the Trustees have voluntarily set asidefor a specific purpose. The designated funds are explalned further at the bottom of note 3. Further explanation of the nature aTrJ purpose of each fund is included in the notes to the financial statements. Cont'd..... 14-
THE BRITISH ASSOCIATION FOR PSYCHOPHARMACOLOGY NOTES TO THE ACCOUNTS for the r ended 31" December 2025 Schetlule of Income and Expenses relatSng to MeÈtin8S dur5n8 the yeor ended 31° December 2025 Surplu5 (Deficitl Income Expenses January 2025 Bristol Anxiety Disorders 19,755 18.349 January 2025 Newcastle- Child and AdoleSnt 27,465 38,660 111,19SI March 2025 Southampton Child and Adolescent 27,490 20,440 7,500 March 2025 Cambridge- Non-clinical Certificate 4.245 36.576 132.3311 March 2025 Manchester- Substsnce Misuse 22,712 18.434 4,278 April 2025 London- Masterclasses 62,540 52,524 10,016 May 2025 Birmingham- Schizophfenia 20,850 23,830 12,9801 June/July 2025 Manchester- Summer Meeting 96,518 221,729 1125,2111 September 2025 Newtastle - Affective Disorder5 31.060 22,122 8,938 October 2025 Newcastle- Old AEe 32.950 24,048 8,902 O¢tober 202S Newcastle- Childhood and Adole5¢ent 29,355 25,402 3,953 November 2025 London- Master¢lasses 137,239 7,21XI 130.039 Prior year expenses not accrued for 4,526 512,629 513,840 11,2111 15
THE BRITISH ASSOCIATION FOR PSY PHARMACOLO NOTES TO THE ACCOUNTS for the ar ended r 2025 BAP Initiatives 2025 2024 In VNO Tralning Fund 14,000 10.000 Onllne CPD Resour 51,992 34,780 Robert Kerwin Bursaries 5,839 2.777 VPM Library Hannah Stelnbur8 6,151 Newcastle Universlty Sllpend 2,{10 N Huneke- Southampton £i,Ix)o 80,982 47,S57 BAP in Vivo Tralnlng Fund Launched in 2rx19, the aim of thls scheme is to give students training and experience in in-vivo skills in psychopharmacology and related neuroscience fields. Applications are supervi50r-led and up to 4 surnmer vacation student projects are supported lat £5.owIAwardl. Robert Kerwln IntematJonal Conferènce Bursaries To commemorate Professor Kerwin's support and meniorship of young scientlsts, the Council introduced annual bursarles In 2008. to be awarded in his name. Each bursary cover5 trave1 expenses and the registration fee for an international conference lexcludinB the BAP summer meeting), together with subsistence. Onllne CPD Resource This tool provide5 comprehensive coverage of psychopharwna¢ology. from generic principles to the treatment of specific conditions. The resource complements and supplèmènts the BAP face to face meetings- Ma5tErcla55e5 Certiflcate modules- and the Fundamentals of Clinic31 PsythopharmatoloBy textbook VPM Llbrary BAP took over the hostinE of Visualislng Psy¢hotropl¢ Medl¢lne IVPMI in 2017. VPM is a way to check mode of action, efficacy and side efferts for psychotropic medicines and can bÈ used as an interactive learning tool or to model new medicines. It 15 on the BAP website as a free educational ie5ouro. Newcastle Unlverslty Stlpend Paid to NewtastlÈ University on an academic fee waiver basis for the BAP Dirertor of Education. The Hannah Stelnburg grants- De5iBnated Funds In 2010 Council set aside £IOk from BAP'S rèsèrves to pay for the Hannah Steinberg bursaries from 2011 onwards. In 2021 a legacy from Professor Steinberg to BAP was desl8nateil by CoMncll for the purpose of an annual award in her memory. and BAP made the first such award in 2022. 16-
THE BRITISH AT R PSYCH PH NOTES TO THE ACCOUNTS mber ststement of Funds Balance as al l Jan 2025 Incomelgaln on Snvestment Expendlture Balance as at 31 Dec 2025 Unrestrlrted fund5 Designated funds Hannah Steinburg 8ur5ary Hannah Steinburg Awards 9.752 50.000 300 5.851 9,452 44,149 Total Designated funds 59,752 6,151 S3,601 Genèral funds 2,660,570 982,837 923.762 2,719,645 Total Unrestrlrted fvnds 2.660.570 1,042,589 929,913 2,773,246 Rerided funds BAP Initiatives 101,973 80,982 20,991 Total Restricted funds 101,973 80,982 20.991 Totslfvnd5 2.762.543 lJ142,589 1.010,895 2,794,236 Staff Cogts 2025 2024 Wages Salaries Pension Costs 230,384 4,758 167,082 7,024 235,142 £174,106 The average monthly number of employee5 during the year was as follows.. 2025 2024 AdminSstrative No employee received emoluments In excess 01 £60,000. ConVd..-.. 17-
THE BR lSH ASSOCIATION FDR PSYCHOPHARMACOLOGY NOTES TO THE ACCOUNTS for the ear ende 31" Decem r 2025 Flxed Assets Fixtures & Fittings Propertv quipment Totals Cost As at 01.01.25 Additions 525,959 33,651 1,152 8,284 567.894 1,152 A5 at 31.12.25 525,959 34,803 8,284 569,046 Depreciation As at 01.01.25 Char8e for the Year 317,201 10,438 33,651 72 8,284 359,136 10,510 As at 31.12.25 317.201 33,723 8,284 369.646 Net Book Value As at 31.12.25 208.758 199,400 As at 31.12.24 £219.745 £208.758 FIMed AssÈt Invèstments Market Value a5 at 31.12.25 MIXEDASSFUNDs As at 01.01.25 Dlvldends and Interest received Management fees incLtrred Realised gain/lloss1 Unrealised gainlllossl £1,913,525 41,565 14,5081 73.136 52.175 As at 31.12.25 2,075,893 18
THE BRITISH ASSOCIATI N FOR PSYCHOPHARMACOLO NOTES TO THE ACCOUNTS for the ar ended 31, Decernber 2025 Debtors 2025 2024 Outstanding journ31 Income Outstanding meetinB incorne MeetSng expenses paid in advance 137,162 1,500 24,529 143.465 2,40) 26,427 163.191 f 172,292 Creditors and A¢¢ruals 202S 2024 Outstanding meeiing expense5 A¢crued meeting income Other creditors 67.193 11,310 43,365 78.503 £49,445 io. Trustee Expenses Five TrusteeslDirectors reived a total of £1,13212024= £13.4261 in reimbursements during 2025. No Trustee received any remuneration during the year. 19-