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2025-03-31-accounts

THE HENRIETTA PARKER TRUST Charity Number: 312094

Annual Report and Accounts

Year Ended 31 March 2025

CONTENTS PAGE
Legal and Administrative Details 3
Trustees’ Report 5
Independent Examiner’s Report 11
Statement of Financial Activities 12
Statement of Financial Position 13
Notes to the Accounts 14

2

THE HENRIETTA PARKER TRUST Charity Registration No. 312094

Legal and Administrative Details

The principal address of the Charity is as follows:

The Henrietta Parker Trust Molesey Henrietta Parker Adult Learning Ray Road West Molesey Surrey KT8 2LG

The addresses of other relevant officials are as follows:

Representing the County Council as Trustees:

Councillor Clare Curran Cabinet member for Children’s Families & Lifelong Learning Woodhatch Place Reigate RH2 8EF

Lead County Council Officers :

Francis Lawlor Principal of Adult Learning Surrey Adult Learning Woking Adult Learning Centre Hoebridge Close Woking GU22 9PE

Ms Anna D’Alessandro Treasurer to the Charity Corporate Finance Group Surrey County Council Woodhatch Place Reigate RH2 8EF

3

THE HENRIETTA PARKER TRUST Charity Registration No. 312094

Legal and Administrative Details – (Continued)

Management agent

BlackRock Investment Management (UK) Limited 33 King William Street London EC4R 9AS

Independent Examiner

DSK Partners LLP Chartered Accountants and Statutory Auditors D S House 306 High Street Croydon Surrey CR0 1NG

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THE HENRIETTA PARKER TRUST Charity Registration No. 312094

Trustees’ Report

The trustee presents the annual report together with the financial statements of the charity for the year ended 31 March 2025.

The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1January 2019).

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016).

Structure, Governance and Management

Surrey County Council (SCC) is responsible for managing and administering The Henrietta Parker Trust Fund (HPT), which is a registered charity (312094).

The Charity is governed by a Scheme from the Charity Commissioners for England and Wales sealed on 1 February 1984.

‘The Board’ was set up early March 2016. It consists of:

Surrey County Council as Trustees: Councillor Clare Curran, Cabinet Member for Education and Safeguarding

County Council Lead Officers: Francis Lawlor, Principal of Surrey Adult Learning Phil Evans, Area Business Manager, North

Participation levels continue to recover post-Covid in all subjects apart from digital skills. This offer has been completely reviewed and restructured for September 2024, and early signs are that it is better meeting local need and so attracting learners. Managers continue to be ambitious to provide inclusive learning to enable Surrey residents access education with clear learning pathways. A wide range of courses continue to focus on widening participation by engaging with learners who are disadvantaged by having qualifications below a full Level 2 or no qualifications, who need to improve their skills to find employment or progress at work and those who are vulnerable.

In addition, a range of parenting skills courses have been developed specifically to meet the post-Covid need of parents/carers seeking strategies to better support their child to learn. The bespoke well-equipped workshop on the grounds of The Henrietta Parker Centre remains an asset in teaching practical skills.

Collaboration with external partners and stakeholders in the community continues to develop and this, together with varied and new targeted marketing strategies is raising the public awareness of the programme.

5

THE HENRIETTA PARKER TRUST Charity Registration No. 312094

Trustees’ Report (Continued)

Governor Recruitment

The Governing body requires breadth and depth of experience to carry out its duties effectively and efficiently. When recruiting new trustees, the important attribute is a passion for the work of Surrey Adult Learning and an understanding of adult education and the opportunities and challenges it presents. We advertise via relevant websites and locally through newspapers within Elmbridge and the surrounding area. We have links with officers and members of Elmbridge Borough Council. We also invite senior local community leaders to consider joining our Board. Where possible the Governors consider that the skills and experience of the Board should comprise the following:

The Governors are the charity trustees of the Henrietta Parker Trust. New Governors are appointed by the existing Board of Governors.

In addition, oversight of the Board is provided by the Surrey Adult Learning Board of Governors.

Restrictions to the operation of the Charity

Specific restrictions to the operation of the charity as specified by the Charity Commissioners are as follows:

Cash Investment

“Subject as hereinafter provided and to any further direction of the Charity Commissioners all sums of cash now or at any time belonging to the Charity, other than sums of cash needed for immediate working purposes, shall be invested in the name of the Official Custodian for Charities.”

Statement of Public Benefit

The County Council has paid due regard to the guidance on public benefit produced by the Charities Commission and are confident that the work of the charity meets all the criteria for public benefit.

6

THE HENRIETTA PARKER TRUST Charity Registration No. 312094

Trustees’ Report (Continued)

Objectives, Organisation and Activity

The Charity is established to promote the education of the public by providing technical and manual instruction in the domestic sciences and allied subjects.

The Henrietta Trust fund dates from 1927 and was bequeathed for the funding, in Molesey, of a ‘School or Institution for technical and manual instruction in Cookery, Laundry Work and Hygiene’.

As to fees, people were to be admitted ‘either without payment on specified terms, so that no preference is given to any person or class of person’.

It came to serve any adults (i.e. persons over the compulsory school age) who wished to learn from a curriculum defined as “Home and Family Studies” in the Molesey area. The current Henrietta Parker Centre was established when the former location in East Molesey had fallen into disrepair in the 1980’s. Trust fund monies were used to convert the former school accommodation into an adult learning centre.

In 1984 the scheme was amended and approved by the Charity Commission with the Object of the Charity to promote education of the public by the provision of technical and manual instruction in the domestic sciences and allied subjects, either free of charge or payment of such reasonable fees that the Trustees may from time to time see fit. Henrietta Parker House was in West Molesey and the Charity Commission Order confirmed that SCC would provide premises for an adult education centre that, at the current Ray Road site, would be called the Henrietta Parker Centre.

Background

The Henrietta Parker Trust Fund supports the provision of learning for adults predominantly in Elmbridge, through the Molesey Adult Learning Centre (Henrietta Parker Centre). In addition, learning opportunities are being supported in a few other centres and community venues.

The Trust fund is used to support access to learning, to provide and improve facilities at the Centre and to promote and engage the local community in the learning programmes provided. While many courses are funded from a grant from the Education and Skills Funding Agency and the contribution made by learners through fees charged, there are many in the community who require further support in order to be able to access learning. The Trust is enabling this to happen.

7

THE HENRIETTA PARKER TRUST Charity Registration No. 312094

Trustees’ Report (Continued)

Review of progress and achievements during 2024/25

During the 2024/25 academic year, there were 1,501 enrolments on the 211 courses administered by the Molesey (Henrietta Parker) Adult Learning Centre. Overall learner numbers were down 7% on the previous year.

Learners at the Molesey Adult Learning Centre included:

20 learners passed their GCSE Mathematics exams in the summer of 2025. 23 learners achieved ‘Stepping Stones’ to functional skills mathematics qualifications. 20 learners went on to be awarded Functional Skills English qualifications.

Henrietta Parker Trust (HPT) Work Skills & IT classes attracted 473 enrolments from 323 learners who improved their digital skills. 30 learners attended cookery classes, learning the essential skills to cook healthy meals from scratch. 28 attended garment making classes and learnt how to alter, repair and upcycle their clothes.

Financial Review

The attached Financial Statement shows the position of the of the Trust Fund as at 31 March 2025.

Interest earned on investments totalled £34,695 (2024 - £34,817).

Revenue spend in the 2024/25 financial year was £55,018 (2024 - £28,578), predominantly on the delivery of computing & cookery courses at the Henrietta Parker Centre. The governance cost is £20,819 (2024 - £20,699) and there has been no Capital expenditure incurred in 2024/25.

The total reserves of the charity as at 31 March 2025 are £1,048,706 (2024£1,065,986). The Reserves are split between £41,362 against the Restricted fund and Capital funds of £1,007,344. The market value of investments has increased from £983,482 as at 31 March 2024 to £1,007,344 as at 31 March 2025.

8

THE HENRIETTA PARKER TRUST

Charity Registration No. 312094

Trustees’ Report (Continued)

Policy on reserves

The trustees aim to maintain reserves at a level which would cover any future commitments or expenditure. Additional information regarding reserves are provided in the Note 2 of the accounting policies.

The total reserves at the end of the financial period were £1,048,706.

Investment Policy

There is currently no formal Investment Policy of the Trustee.

The management board is working with the finance department to identify options on generating a higher return on the capital assets of the fund, in particular the monies currently held in a bank account that constitutes carried forward income.

Future Developments

Governance arrangements for the Trust have led to an increase in activity funded for residents in the community over the last two years. The current plans are to build on this work.

Responsibilities of the Trustees

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

9

THE HENRIETTA PARKER TRUST Charity Registration No. 312094

Trustees’ Report (Continued)

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by Trustee Board on …………………….

and signed on its behalf by: Francis Lawlor Representing Surrey County Council as trustee

10

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF The Henrietta Parker Trust

I report to the Trustees on my examination of the financial statements of The Henrietta Parker Trust (the Charity) for the year ended 31 March 2025 which are set out on pages 12 to 18.

Responsibilities and basis of report

As the Trustees of the Charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the Act”).

I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the accounting requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a “true and fair view” which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Dhirajlal Shah FCA (Independent Examiner) DSK Partners LLP Chartered Accountants and Statutory Auditors D S House 306 High Street Croydon Surrey CR0 1NG

Date: .............................................

11

THE HENRIETTA PARKER TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Incoming Resources
Investment Income (Note 2)
Total Incoming Resources
Resources Expended
Charitable activities_(Note 4& 5)
Governance cost(Note 9)_
Total Resources Expended
Net Incoming Resources Before Transfer
Transfer Between Funds
Net Incoming Resources for the Year
Other Recognised Gains and Losses:
Unrealised Gain / (Loss) on Investment
Assets (Note 11)
Net Movement in Funds
Balances Brought Forward as at 1 April
2024
Balances Carried Forward as at 31
March 2025		 Restricted
Fund
£
34,695
34,695
55,018
20,819
75,837
-
(41,142)
(41,142)
82,504
41,362		 Capital
Fund
£
-
-
-
-
-
23,862
23,862
983,482
1,007,344		 Total
Funds
2024/25
£
34,695
34,695
55,018
20,819
75,837
-
(41,142)
23,862
(17,280)
1,065,986
1,048,706		 Total
Funds
2023/24
£
34,817
34,817
28,578
20,699
49,277
-
(14,460)
17,116
2,656
1,063,330
1,065,986

12

THE HENRIETTA PARKER TRUST STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

Fixed Assets
Investments_(Note 11)
HPT Workshops(Note 10)
Current Liabilities
Amounts falling due within one year(Note 12)
Net Assets
Funds
Restricted Funds(Note 13)
Capital Funds(Note 13)_
Total Funds		 2024/25
£
1,007,344
136,912
1,144,256
(95,550)
1,048,706
41,362
1,007,344
1,048,706		 2023/24
£
983,482
156,471
1,139,953
(73,967)
1,065,986
82,504
983,482
1,065,986

The financial statements were approved by the trustees, and authorised for issue on ……………………… and signed on their behalf by:

……………………… Councillor Clare Curran Representing Surrey County Council as trustee

13

THE HENRIETTA PARKER TRUST YEAR ENDED 31 MARCH 2025

NOTES TO THE ACCOUNTS

1. Accounting Policies

Statement of compliance

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 FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)',and the Charities Act 2011.

Basis of preparation

The Henrietta Parker Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The financial statements are prepared in sterling which is also the functional currency of the charity and rounded to the nearest pound.

Going Concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient along with the level of reserves for the charity to be able to continue as a going concern.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds; it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to headings, they have been allocated to activities on a basis consistent with the use of resources.

Charitable activities and governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

14

THE HENRIETTA PARKER TRUST YEAR ENDED 31 MARCH 2025

NOTES TO THE ACCOUNTS (CONTINUED)

Taxation

The charity is exempt from tax on its charitable activities.

Fund Accounting

Restricted funds can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the statement of financial position date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Gains/(losses) on investments' in the statement of financial activities.

Fixed Assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset Class Depreciation method and rate Building 10% on cost

At each statement of financial position date, the carrying amount of its tangible fixed assets is reviewed to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the entity estimates the recoverable amount of the cash-generating unit to which the asset belongs.

15

THE HENRIETTA PARKER TRUST YEAR ENDED 31 MARCH 2025

NOTES TO THE ACCOUNTS (CONTINUED)

2. Investments and Reconciliation of Funds

All of the income of the Charity can be applied under the terms of the trust deed. The investments can be allocated between two different funds: the Capital Fund which has the original capital invested; interest from these investments is placed in the Revenue Fund to meet costs in promoting the education of the public by the provision of technical and manual instruction in the domestic sciences and allied subjects.

The Capital fund is invested by our fund managers, BlackRock, in two pooled investment funds, Charinco and Charishare, which are specifically tailored to meet the needs of the smaller charity.

Investments income
Interest income		 2024/25
£
34,695
34,695		 2023/24
£
34,817
34,817

Surrey County Council Finance in conjunction with ‘The Board’ are reviewing this fund balance, to ensure that any surpluses are invested or disbursed appropriately.

3. Proceeds from sales

No items were sold in this financial year.

4. Expenditure on charitable activities

Education courses cost at
Henrietta Parker Centre		 2024/25
£
55,018
55,018		 2023/24
£
28,578
28,578

5. Management and Administrative Costs

These costs relate to officers' time for the general and financial administration of the charity. These are currently met by Surrey County Council

The revised scheme proposes that:

“The Trustee shall first defray out of the income of the Charity all the proper costs, charges and expenses incidental to the administration and management of the Charity ”.

Running costs of the charity consist of the cost of the utilities, cleaning costs and the insurance of the property. These are currently met by Surrey County Council.

16

THE HENRIETTA PARKER TRUST YEAR ENDED 31 MARCH 2025

NOTES TO THE ACCOUNTS (CONTINUED)

6. Trustees Remuneration

The number of trustees during the year was 1 (2024 – 1). No remuneration was paid, or expenses reimbursed to the trustees.

7. Inventory of Contents

There is currently no inventory of contents.

8. Staff cost

The average number of persons employed by the Charity during the year was 0 (2024 – 0)

9. Governance Cost

Independent examiners fee
Depreciation		 2024/25
£
1,260
19,559
20,819		 2023/24
£
1,140
19,559
20,699

10. Tangible Assets

Cost or Valuation
On 1 April 2024
Additions
On 31 March 2025
Depreciation
On 1 April 2024
Charge for the year
On 31 March 2025
Carrying amount
On 31 March 2024
On 31 March 2025
11. Fixed Asset Investment
Quoted Investments
Market Value as at 1 April
Net Unrealised Gains/(Losses)
Market Value as at 31 March
Original Cost Value		 Building
£
195,589
-
195,589
39,118
19,559
58,677
156,471
136,912
2024/25
£
983,482
23,862
1,007,344
531,513		 Total
£
195,589
-
195,589
39,118
19,559
58,677
156,471
136,912
2023/24
£
966,366
17,116
983,482
531,513

17

THE HENRIETTA PARKER TRUST YEAR ENDED 31 MARCH 2024

NOTES TO THE ACCOUNTS (CONTINUED)

12.Creditors: Amounts falling due within one year
Amount owed to Surrey County Council
Accruals		 2024/25
£
93,150
2,400
95,550		 2023/24
£
71,687
2,280
73,967

13. Funds

Restricted Funds
Revenue Funds
Capital Funds
Investment Funds
14.Analysis of Net Assets between funds
HPT Workshops
Creditors due within one year
Investments
Total Funds		 Balance
01/04/2024
£
82,504
82,504
Balance
01/04/2024
£
983,482
983,482
Restricted
funds
£
136,912
(95,550)
41,362		 Surplus/(Deficit)
For Year
£
(41,142)
(41,142)
Unrealised
Gain
£
23,862
23,862
Capital funds
£
1,007,344
1,007,344		 Balance
31/03/2025
£
41,362
41,362
Balance
31/03/2025
£
1,007,344
1,007,344
Total funds
£
136,912
(95,550)
1,007,344
1,048,706

18

THE HENRIETTA PARKER TRUST

INDEPENDENT EXAMINATION MATTERS TO BE RAISED WITH THOSE CHARGED WITH GOVERNANCE YEAR ENDED 31 MARCH 2025

DSK PARTNERS LLP CHARTERED ACCOUNTANTS & STATUTORY AUDITORS

Henrietta Parker Trust Independent Examination matters to be raised with those charged with governance Year ended 31 March 2025

Introduction

These notes are observations arising from our Independent Examination in respect of the financial statements for the year ended 31st March 2025. They provide an overview of matters for consideration by the trustees.

The objective of our Independent Examination is to allow us to report to the trustees on the truth and fairness of the financial statements and whether they have been prepared in alignment with appropriate accounting standards. We plan our procedures so that we have a reasonable expectation of detecting material misstatements in the financial statements and the underlying accounting records resulting from irregularities or fraud. During the planning of the Independent Examination, we document the underlying system of internal procedures and controls over maintaining accurate and reliable records.

It is the responsibility of the trustees to ensure, as far as possible, that accurate and reliable accounting records are maintained and to safeguard the assets of the charity by the adoption of appropriate systems and controls.

The focus of our work is on matters which could have a material impact on the financial statements and consequently our Independent Examination work is not designed to disclose all errors or weaknesses in controls that may exist.

Confidentiality

This report has been prepared for the sole use of the trustees of Henrietta Parker Trust. It is issued on the express understanding that it is used for this purpose only. It may not be disclosed to any other person without the prior written consent of DSK Partners LLP. No other person receiving this report should act in reliance upon its contents (which may be unsuitable for any purpose other than that for which it was prepared). Any person who, notwithstanding the foregoing, elects to place reliance upon this report does so at their own risk and DSK Partners LLP assumes no duty of care or other responsibility towards them.

Index

  1. Qualitative aspects of Henrietta Parker Trust ’s accounting practices and financial reporting

  2. Letter of representation

  3. Adjusted and Unadjusted misstatements

  4. Expected modifications to the Independent Examination report

  5. Material weaknesses in the accounting and internal control systems

  6. Other matters required by Independent Examination standards to be communicated

  7. Significant difficulties encountered during the Independent Examination

  8. Other relevant matters relating to the Independent Examination

Henrietta Parker Trust

Independent Examination matters to be raised with those charged with governance Year ended 31 March 2025

1. Qualitative aspects of Limited’s accounting practices and financial reporting

We have no comments to make concerning these matters and believe that the accounting policies are appropriate and have been properly applied throughout the year.

2. Letter of representation

A draft of our proposed letter of representation is attached; We draw your attention to point 16; in other respects, the letter is routine.

3. Adjusted and Unadjusted misstatements

There are no adjusted and unadjusted misstatements, other than those that we consider to be trivial.

4. Expected modifications to the Independent Examination report

We do not propose any modifications to our Independent Examination opinion and hence will be issuing a clean Independent Examination report.

5. Material weaknesses in the accounting and internal control systems

6. We have not been able to identify any material weaknesses in the accounting and internal control systems and would like to point out that any weaknesses covered in this letter were discovered during our normal Independent Examination work, such work being undertaken primarily for the purpose of expressing our opinion on the financial statements of your companies. Our Independent Examination work did not include a detailed review of all aspects of your companies’ systems and, for this reason; the contents of this letter do not necessarily include all weaknesses which might exist in your accounting systems.

7. Other matters required by Independent Examination standards to be communicated There are no other matters that we are required by Independent Examination standards to communicate with you.

8. Significant difficulties encountered during the Independent Examination

We confirm that there were no significant difficulties encountered during the Independent Examination.

9. Other relevant matters relating to the Independent Examination

  1. We did not encounter any significant difficulties during the Independent Examination and there are no significant findings from the Independent Examination to draw to your attention.

  2. We have no comments to make concerning the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

May we take this opportunity of thanking you and your staff for the assistance received and cooperation during the conduct of our Independent Examination.

Yours faithfully For and on behalf of DSK Partnership LLP

Date: 22[nd] May 2026