REGisfERED COMPANY NUMBER.. 024S0176 lEM￿and and Wale$l REGISTERED CIIARffY NUMBER: 3Z8465 REPORTOF THETRv￿EE5 AND FINANCIALSTATEMENTS FOR THE YEAR ENDED30TH SEPTEM6ER 3021 FQR GREENDOWNTRUST Thoma5 Coombs ststutoryAuditor Chirtered Accountants 3365 Thè Pentagon Centw Way Tho¥pe Park Leeds W25tYorkshirt LS15 8ZB GREENDOWN TRUST CONTENT5 OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023 Pa80 Reference and Administrative Details Report of the Trustees statement of TrU$￿t$, Responsibilities Rèport of the Independent Audltors 7 to 10 statement of Mnan¢lal Artiv￿leS li Balance Sheet 12 Cash Flow Statement 13 ￿￿e$ tothe Cash Howswement 14 Note5 tothE Flnanrlal Statements 15 to 24 GREENDOWN TRUST REFERENCE AND ADMINISTRATIVE DETAILS FOR TIIE YEAR ENDED30TH WTEMBER Z023 rRusfEE5 P A Deecroft Ire&8ned 7/31231 D PlckersKIII L P Webster Ireygned 7191231 R Phillips Firba￿e Chairn)an SB8r S Greener COMPANYSECRETARY CLCoop REG15TEREDOFHCE )eley House Chapel ￿lertOn Leed5 LS73QB REGISTERÉD COMPAW NUM8ER D2450176 IEn8knd and Walesl REGisfERED CHARfTY MVMYER 328465 SÉNIORfATUTORY AUDITOR 5topher Darwin FCA AUDrro Thomas Coombs Llmited ststutory Auditor ChartÈred Attountants 3365 The Pent*Èon Cerrturyway Thorpe Paik Leed$ West Ytsrkxhire LS15 8ZB P3ge I GREENDOWN TRUST REPORT OF THETRiISTEES FOR THE YEAR ENDED 30TH SEP7EM8ER 2023 The trustees who are als¢ dlrectors of th£ charity for the purposes of C¢mpank5 Act 2006, present thelr rep)rt w￿h the flnandal statement50fthecharityfortheyear ènded 30th September 2023. Thotrusteeshave adoptedthe prO￿siOnS0fAccQU￿￿n8 and Reportlng by Ch8ritie5.' StstemÈnt of Recommended Pr8tti¢e Ippllca￿e to chErfties p￿parIng theli accounts In arcordance wlth the Financlal Reportlngstsrtdèrd app￿rable In the UK8nd RÈpublic of Ireland IFRS 1021 leffettive l January 20191. OBkCTIVESAND AcfiviTIE5 objett￿eS and aiJn% Theformal objects gf the charfty as defined In tt5 rnemorandum of ass(KSation are.. 'To carry out (alone or with othEr¢harltièsl the fallowlng ch3rft2ble trusts or any of them, namoly to assist needy persons lirreSFective o* religionl or to supp¢rt or promotè thaAtable reliBlous purposes¢onnected wAth the Chr15tlan Sclence church1Tr Such manner orwa a5thp Charity Shall *romtime to time think It and In parbcular but wlthoutdeio8ating frorn the generalltyof the fore80in8 to provlde trr a5slst lflnanclally or a5 herelnafter pro￿lded) with the pro￿510￿ rfllvl.Ygaccommodatlon, furnished Qr unfurn15hed, and wlth or wlthout servlces or Qiher facllhl*, for needy persDn¥ and whether by proNidin& adaptin8, imprpvin& equlpplnL furn￿1n{ malntalnin8 or runnkng homes, h05tels, hDu5es. flot5 or otherdwelKngs ofany Sort or ￿ other meank. Withln the alM)ve cblects, the Trv5t provid￿ sheltered houslnE and resid2tttial accommodalon at It5three propethes. n8mely.' t*neley HeusÈ èt Leeds Iresldentkll, Stockw￿l Lodgeat XnarÈsborDugh lthdteredl and Valley Lodge 4t Ilkley Isheltererf. All the wopertie5 are nKlntalned to a veryfvl£h standard and areadmlnlstered bytheTrusteesthrough the GeT*TrI Mar￿￿er￿n￿ herslte manager& ca￿￿￿nagerS 4ndadmlni5tratpie staff. AcccoJntsbllltywndET Publlc8Bnefft Requirements ltt accordance with Ihelr dufjes pur5uantto Section 4 Chari(ie5 Act 2011, th2 TrustÈÈs Constdered the Trust'soblects •¢tivltle5 In118ht ofthe Charity CommissloD'5general guidanceon benefit.'Ch3rifiÈ5 and Public Beneftt.. In relatlon to the frst Ilrnb of the public benefit test s¢tout In the guldance. the oblects )re defined in the Memorandum of AssoclatlDn the Truste￿ ar2satlsfled that each Of th2se 15 of benefitto the publlc. The Otyects emphaslsÈthe provI￿on of 5ub55dlsed rE5identlal care and thekered actommodadon, whl¢h15 In evidence In the mnningof the TrusL and tlelrly prDvkle5 SUPPOrtto those In need within the cornmunity. In relotlon to the second Ilmb of thetest, thÈ tru5teesen5ur£ thatthe public atlarge benefftfrom the 3tiDitties of thetrusi and thatthere Is no prlvate benefll Ineidentsl orothepNisp. By the nitvre Dfthe activitie5 performed. thefèct that none of the Trustees re51de ot any of the propert￿5 Ènsures that the trusteesdg not enjoy aoy benefrt. knddental orotherwlse, from their PDSitlon. A5a resultotbelng able to house up to 109 residents overthree sltes, they ènd thefamllies and COn￿ctIonS of those who are a¢camtDodated enjoy the beneflts of the 5ervlce5 proknlded, 4nd a5 Such, the publlc at lÈ¢e benefit from the charitsble actlvlties, The ch2r)ty does n¢t dtS¢rfrnlnite agalnst oyone on the8rounds olthe ablnty to pay. WIt>￿￿ the alms of the oharlty, appllcatlons arè invlted from atwne in need. and 3551stsnce wlth obtainlng fundln¥1s given ff requlre(L The truste￿ regularly keep the acti￿1)e50ftheTr￿St under revlvk4, lo ensure that they are ol fflclent benefit tD the publk Pa8e 2 GREENDOWN TRUST REPORTOF THE TRUSTEES FOR TFIE YEAA ENDED 30TH SEPTEMBERXJI4 STIIATEGIC REPORT Athi4voment andp¢rformance DynAloy The ￿Sident[al homÈprovMles its residentsvAth the hith¢st quality 24 hgurcore p055ible ia z relaxed, secwe and homely en￿rQ￿rnent. The fv)me15 rÈ815tered for 24 Te51dents ènd empbys a t¢arn of ￿re. housekeeplng tsterlng si81f. The home works COn￿n￿￿5]Y t03chieve allthe otrtcomes of setvi¢e provlslon. The home Is In£pecied by CQC An Inspettion wis ¢aMed OIA In 2017 and all sttndards checked were lully rnet. The home wa5 ￿ted Good Undert￿ lètest Inspecdon crlterfa. The horne believ2s that haylng th2 highest qualltr care and attomrnod6ffion 15 an absolute right of every reswent. The cortlnuing alm of the h(Fme Is to provide a profe55tonal and efficient service lo meet ￿EryOne'S needs qnd requlremEntS 8n(t to achiEvE satisfactory"outcornÈs for eath persin The home'5 long-term goal Isto obtain the hl8hest posslble level of s8tiskction Tesldents and rÈl2tlvek An Inspeedon hès prevlously been ¢8rried out by the Food ind He3lth 5eMce who aw8rdèd the kitrhen a 5-Stir ratlng for hY8￿fte, the m3￿muM vthkh can be actheve The management team belleve thJL in orderto proV￿e a qualltv 5ervlre, the hDme requlre5 hI￿￿qua￿ty staff who are suitsbl¥ troined, supervfsed andsuppDrted. OyneleyHou5e15 inspected by Leeds ￿(la1 ser￿ceS￿$part ol the Framew0￿cOnIfact.The1aSt¥aIidOti0n v151t took pkce In 2g22 and ￿ne]eY House zchieved the enhanced standard, the highest kvel. The home has atso athlewed the investors in people accrethtation far 2022-2024. ¢)ccupancy leve15 are mDnltored wlth the alm of ad)levln8 Ihe pl4nned 5urplu& Monthly m4wgernentaccounts are produEed which tompare actual financlal perfom)ance agalnst previously ègreed budzets. Monthly management accaunts tlrtulated to all mernbers of the finance CDrnmittee and tr>the other truslees, they are discu55ed in detail * flnance commlttee meetings t￿t are held 5 tlmes each year. StDckwell Lodse ond Vallèy Lod¥o Th2 two hou￿￿8 s¢herne5 PTDvlde o grod standard of actvmmL¥datlDn lfj pleasant and peaceful surroundings, there 3rp 25 lats at Stockwell Lodge and 27 flJts at Valley Lodge. The flats PrO￿de seturè arcomrnGdHtion supported by the resident rndnager and a emeraency Call sy5tetn to 3 24 hour￿11 centre. 80th SY)ckwell and Valley Lodge have had extensl¥e refurbishment5 of the comrnunal Èntres, wlth on£cNDÉ refurbishment ofthe ffats klichens as they become v8eÈnt, réody *or newtenantsto move in. Flnandal re¥lew Flnanclal poshlon The financlal statErnents CDrnply with the Companies Act and the Statement uf Recommended Piacffce on Accountlng by Charlties znd the condltlons In the COm￿nY,$meffloraTr￿urn andArttles0f￿ocyat1On. Them0vem￿t Infunds155hown ontheStatementofFinancial ActivFtles on page 11. The flnantlal results of the charlty ore shown In the annexed fSnanclal ststements. Plind￿l funding sources DurTng the year ended 301h SeptÈmkr 2023, 85%12022.. 92%) of the thrfty's income Èrose frgTll ren15 and senrice £harges for the ottupation of resldential 2nd shelterÈd ac£omTnodatlan owned by the charfty- Investment poll￿and oblectfves The Trustees have con51dered the mott approprpate pollcy for the Investment of funds 3nd have declded thaL 8Tven the demand on workjni tapitsl, Investment in the form of cash and investtntnts are normally the most appropriatÈ èctlon. The Investments arnount to £l,D96,974 which are rnanagei b¥ Redmayne-Bentley LLP, Stod(brokers. All olher monles not requlred for Immedlate use are kept an deposlt TheTrusteeswill m￿ltorth￿ perforrnanceof the Investme￿ mana8Èrs ogalnstthe ARC Income Index. Pa￿3 GREENDOWNTRUST REPORTOF THE TRUSTEES FOR THE YEAR ENDÉD 3mi SEPTEMBER 2023 STRATEGIC REPORT Flnandal rewew ResÈrve$ pollty All funds and properties inthe ownership ol the Trust ats unre5trltted and therefore avallèblE for use b¥thÈTrustees at thelr dixreuo for the purposE5 of the Trust. These funds are malntsined at a sufficitrt lÈvÈl in ctTder to 411ow the smtsoth dpratSDrt of tht tharty, aCti￿rI@S olpiovldiTrgaccomrnodatlon to its resSdents. The TrustÈes havÈ set a tapet to establish a prudtntfinanrial re5erveof unrestrlcted fund when compared total annual ￿pendItUrE Io cater for possible future contif,8enties. At the balance sheet date, the level of Ilquld unrEstrlcted fvnd5, exdudlng unrestrlcted flxed assets,was£I.328,168. When compared with the annu&l expend1t￿re ofEi296,044 thlsglve$8 level of ￿serveSe1￿1v3lÈott0 12 rnonths expenditure, Howeverthetrusteesareufthe c￿nICnthat unrEStrictEdfreereserves equlv31entto 18 month5 0fexpendltu￿lEIS44,o66J arÈ appr¢prièie. The trustees are endeavouring to Increase Income to ensure unrestdcred free reseNes are at the tar¥et levd In the future. Post 8al•DceSh*rt Eyer The Trustees are not aw3r¢ of ami events after the balince Sheet date which have any materkl effect of the positlon presented in thesE ccounts. Futuro plans The Or￿n158￿0n works continuously to ichieve all the ￿tcomeS of s•Mce provision. The latèst Inspection by CQC eonftrmed that we rnet all the outcome5assessed. The condnulng alm of the oiganlsatlon isto prDvlde a profe5sion31 and effic*nt servlce to meet ev￿One'S needs and requlrements and tD athieve 5atlsfa¢tDr{outcornes foT each person. The organisayon's long term goal Is to obtaln the highest W5￿ble1eveI of Satl$fa¢￿on frorn residents, tenaAts and reSitive5. To m¢eithesegoalswe aim to continue an on-goln8 programmÈ of improvÈments to 811 our propertiesto maintain the hlEheststanthrds. A Ilsrof relurbishments andlmprovements highllghted inthe budgetis approved bythe BoardofTrustee5 annuallyandcarrled outdurlng the folknwint year. In the coming year, there ￿planned project of works to further improve the flre safety of Dyneley House. Thls Include5,' upgradesto fire door5. a new fire alarm system and general bulldlng works which wlll have a focus oll fiTesafety. AtValle¥ Lod8E and Stockwell Lodge, Improvementsto th¢ heatlnland Insulitlon ￿11 rO￿tinUe. The aim 15 Tnake the lodge5 tnore energy Iclentandto redure thelrcarbon emI￿[0￿$.Tthe new systemswlll have a(fvancÈd control systems that•llow for0p￿Mis8tttjTr olener8y usage. STAucfuRLGOVERNANCE AND MANAGEMENT G¢vernlDu d¢￿￿ent The chartty15 controlled byltsgovernln& documen( a deed oltrusty and consrttutes a IlmltÈd tompany, Ilmlted by guarantee, as delned by the com￿nIeSAtt 2006. The Charity i% tontrolled by its 8avÈming dGcurnent. a deed Dftru5t. and ctrn5titutes a limY(ed company. Ilmlted by guarantee. as defined bythe Companies Act 2006. The legal status of Gree￿Own Tru￿ Is th8t of a Company Llmlted by GuarbnteÈ ost#bllshed on 7 December 1989. The name of the company wischanged on 14th May 2tsJ6from GreendownTru5t Llmited toGreenduwn Trust. The cornpany ￿resiStered as a charty LmderThe chariti￿ Act 2011 èxd ts 8o¥emed by its MÈmoiandum and Articles l as amended 30th August 20I91- At 30th September 2023 there were 6 members whose112bility if Ilmited to Él each In the e¥entof the Ilquidatlon of the company. Asucceyion plèn 15 in placeto recruit newTw5teE& P4e4 GREENDOWN TRUST REPORT OF THE TRUSTEES FOR THE YÈAR ENDEO 30TH sEpfEMBERZ023 STRUCTURE. fjOVERNANCE AND MAWIGEPAÉNT RecrultmÈrt Hnd apporn*mentof newtrtt5tees Detalb of ihe Trujttts who havÈswved durfn8 theyÈar are Ilsted on page L The d1￿CtorS of the charit3ble company are a150 Trustees for the puipo5e of ch3rity12w and sit on the Trustee Bcard. Tru5teEs shall nuTnbeT rTro ￿5$ than three. At every Aftnual General Meetin£ ofthe £ornpony 0￿-th￿rd of the Eoard of TrusteÈs shall retlre from officè and if w￿l)nE and eli8ible will offer hiMseLf or heT¥elf for re-e￿ttlon. The Board of Trustees ho5 the Power at arty time to appolnt any personig be 3 trukee. Qr8ènIS￿a￿8l structure Thedayio day&dmlnlstratlon artd tsperl￿0n of the tharlty and its acti￿￿eS15de1eq￿ted to the general manager and her5UPPOrt staff. The general manager, L aark, Is supported by the trust admini5tTator, the èsslrtant trust a(knini5tratrr and two teirn leader5. In the coming YEar. a Deputy M&nagerwlll be recruf¢ed tD further strewthenthe managemènt team. Induetiom and Iralning of newliustees Individua15 Interested in becoming Twxtees are Inviied to joln bo8rd maetings, Inltlalty as obSer￿r5. Ir￿l￿1dUaIs wh¢ exhibll skills Itablefor the charitv4nd show • contillued interestth Ihe actIviti￿ of the chÈrityarethen in￿ted to become è trustee and are provided t*AthaHrity Comrnlssion publfcadonsgn the responslbifitit5 Qfa trustee. Xeymanagement omuntratFon The tnJ5tees conslder thot the board together with the monager Bnd trust admlnlstrator/cDmpany 5Kretary £omprise the key man48ement per8onnÈl ofthe chadty ill charge of direttlnB and controlllng the£ha￿ty alld rvnnlng and operatln8 tht tharityon ? day to day basls. Det8lls of key ffl3n3gement personnel remuneratlon Is detsilEd innotp 11 tothe finandal staternent5. Key tnanaEement remuneratlon Tsset by the tru5t¢¢5 reviewed on an annual basts. Rel?ted parties Any Indiwdual wlth an InteresE in a matterbeTng dlscussed It a meetTng Murtder1a￿ the interest to the meetlnB. The chairman of the meetin8 will then decide whether thd indwidual should wlthdraw durln8 the d15CU5sbn and. If not, whether the Individual should be entyded to vote i)n the matttr underdiscutson. R15k manaBement The Trust&s have IdentlfiEd and actfvetyreview the maior rlsk5to whlch th¢ Tw5t 15 exposed. Thèse risks indude.. Lossof Income and debts Cdstof major repalr5 Employers liablllty 8￿j thlrd p4rty £lauDs- ond Changes leglsktlon r&adni to provislon of accommod3￿0￿￿Or the eld¢dy. lrt e￿h case. steps have beÈn tsken to mitf8ate these rfsk5 where p0S￿ble whether by InsuraTrte or by provldlnE a sufficiency of I￿￿Fd resources. In addl￿On. theTrustees contlnue to revlew thestreftgths and weaknesse5 gfthtrrust in orderto identlfvfurther rtsk AUDITORS The aud6tor5, Thoma5 Coombs Llmlted wlll be prop05edfor re-appoirrttnentat the fortlxorningAnnu81 General MEetin8. Report of the trustees, Incorporatlng a str3te8lc rtport, approved by arder ot the board of trustees, 8$ the company direttttrs, ¢n 28th March 2024 and signed on the board's behalf bv.. S Greener-TrustÈe Pa8e S GREENDOWN TRUST STATEMENT OF TRUSTEES, RESPONSIBIUTIES FOR THE YEAR ENDED 30TH SEPTEMBER 2023 The truste￿ Iwho are alsD the directors of Greendown Tru5tfDrthe PUTP0525 uf ccimpany lawl arp responsible for prepartng the Report of the Trustees 6nd thp finan￿￿1 5tatetnÈnts In accardance wTth kppli¢dble ènd Untted knnÉdom Accountlng Standards Iunlted Kingdom Generally A¢¢epted AccounVn8 Pratttcal- Comp8ny18w require5 the trustees to prepare financial statements for poch linandal year which givea true and fairvlew of the szate of affairsef the charltable cornp4ny and of the IncomJn8 re50urce5 an¢J appli￿tIOn of resources, includingthe InrpTne and expendlture. ol the charlt3E4e coThpanyfor that period, In sxeparing th03efinanclal statements. thetrustee5 are requI￿d to sekt sukable a¢tounting poliaes ènd.then apply thern tonsistÈntty,' observethe methods and priTrriples In:he CharitySORP,' makeludg¢ments and estlmates thatare reasonable and prudent., 5tite whether appticableaccounting standards have teen followed. 9Jblectto any materlal departure5 dls£losedand explalned ittthe fln2nclalstatemÈrtts', prepare the tinancial ststements on the 8oln8 concem bas15 unle55 It Is Inappropdate to presume that the thrltable cornpany will £￿thue In bu5ine¥. Th2 trt￿ee5 3re reSpOn￿ble for keepln8 proper accountlnE rÉcords which dlsclose wtth reasonzble accuracy èt any Vme the flnaffttial POSI￿0￿ of the c￿rItable company and to enable them to ensure that the financS115tatèrnEnts comply With the Companies Act 2006. They are also res￿On$1b1e forsafe8uardinE theas5ets ofthEcharltsblecomparny and hence fortaklng reasonèble Steps forthe prevention ?nd detertlon o'i fTrud other Irregulzrldes. In 50 faro5the trustee5 are aware.. thefy Is Tro relevant audit Information of whlch the charftable company's 8AItOT53rE unawar2,' ar the tru5te-J have taken 811 steps that they ought to have taken to make themselves £w3re uf any relevant iudlt Information and t¢ e#abllsh thatthe audltor5 areawzre Dtthat Inforrnatro Page 6 REPORT OF THE IWDEPENDENT AUDITORS TO THE MEMBERS OF GREENDOWN TRUST Opinion Wohave audltsd theffnan¢kl 5tstements ofGreendown Trust lthe'charltabtecumpany'l forthe yearended30th September 2023which comprf5É Statement of Hnanclal ActivitlE5, the Balance SheeL the Cash Flow Statement and notes to the InancLBI statemtnts, Includlng 0 5u¥nrnary of signrficant arcountlrtg policie5. The fillonc131 repotr￿n8 framewoik that ha5 been Applied in thelf preparationls Jpplt¢aEAe lawand ithited ￿ngdomA¢countlfi8 Strand4rd5 Iunlted Klnldom Generally Ae￿ptedA(COUTrdng Practlcel. In our opinion thettn¥rrL415taiements: e 4 true and fèirvitw of the state olthe ¢haritabletompanV5 affairs as at 30th S2Ptember2023 and of its Incomln8 resourc¢s•nd ppllcatlon of resour¢e5, Including it51nrome and expenditur4 forthe ye8rthen ended,- have been proper￿ prepared In ac¢ordÈnce with United Kln8dom GenÈrèlly Accepted Accounurng Pr8th¢e.' and have been prepared In accordancÈ wTth the requlrements of the Co[n￿nieS Act2006_ Baslstor*Wnlon We conduct2d our audlt in attothnce with Intern8tlonal Standards on Audltlng IUKI IISAS IUKII 2nd appDtsble13w. Our responsibl1￿Tr underthosestandardsarefurtheidescAbed In theAuditors' re5ponslbilitie5forthe wdltof the fitTr6nclal $tateffl￿ts5ettE0￿ of our report. We are Independent of the tharitshle cornpany In accord8nce withthe ethlcal requlrementsthèt are relevant to ouraudlt of theflnantial statÉmÈntsin the UK.Induding Ihe FRCsEthlcal Standard,4nd we havefuifilledourDther pthic41 re5poislbll￿1e5 In ?ccordancewlth thÈse requlrements. We believelhor evid*nee we have obtalned Is sufflclentand &pprapriate to provlde ? bas15 for wroplnlon. Condusion5 relatlngto I￿n&{gr￿Ern In authting thetlnaftclal 5taternents, we haveconcluded thatthetrustees. use of t￿gOIng￿0￿Cern ba￿SOf accountknKln Èhe preparatki of the financial ststement5 15 opproprlate. 88sedgnthework we hive performed,we have not Identified 3ry nyterfal untsrtaiftties relatlnBto ￿entS orcondlt1onsth3L lTrdlvidu311y or¢oll£ctlvely, may ca5tSlEnificant doubton the ¢harit8ble company's ablloyto t¢ntirtue asa going concern fora pe¥iDdof at leasttwelve monthsfrorn when thefinancial 5tstements are authorised lor155U& Our re5wnsib¢lities ènd the re5ponslbilTtle5 of tr￿st￿E9 wlth respect to golng cvn¢ern are descrlbed In the relevant secuons of tNs repgrt, Other knfarmatlon The trustees aTE responsiNe forthe oth¥ informatlon. The other Inform8tl¢n ¢omprfses the InformatlDn includedln the Annual Repfrt otherthanthe flnanclas rt8tements our Report ofthe Indepeftdent Audycors therec*. Our oplnion onthefinanaal statementsdoeg not cover the other Informatlon and, excepttr>the extÈnt otherwlse expficrdy stated Irbour rèport wp do not Express anyfvnn of assurance conclu￿an therEon. ln conn¢£tioft wmh our audlt of the financlal 51atemÈnts, I￿r responslblllty Is to read the other information ond, In dolng so, cOn￿der whether thÈ Dther Inftrrmat￿n Is materlally Ineons5stent with the finantlal Statements or our knowledge obtslned the atsdit ur otherwise appears to be matsr1311y mtsstoted. ff we Identify Such Material Inconsisten¢iES or apparEnt matErial Tni55tatement5, we are reqUI￿d to deterrnine wh&ther this llv￿ rise to a tnat2rlal mlsststement In the fln8ncial staternents thern5elves. If, based on the work we haveperformed we conclude that there Isa materlal tni5rtaternentof thls Dther 5nform3Won. we are requiredto rEpcrt thitfacL We have nothln8to report In thlsregzrd. Oplnkns on uther matters prestrlbed by the C¢nwanles Aet 2006 Sn ouroplnlon. basÉd the work undertaken In the course of the audit.. thE Infoffnatlon given In the Peportof the Trvstees forthe flnallEkl ￿ar forwhlchthe finindal ststements ère prepared Is conststent wlth thefin8nclal statements,. and the Rer4)rt ofthE Trustees has been prepared in Accordance with appllcable legal requirernents. Page 7 REPORT OF THE INDEPENDENT AUDITOR5 TO THE MEMBERS OF GREENDOWN TRUST Matter5 on whlth we aré ro#uired t0￿POrtbY Èxceptlon In the light of the knowlerjge and understanding ol the charltable company and tt5 envlronment obtained In the course of the iLnlit, we have not TrlEntified matsrlal tni5Statement51Tr the R2pDrt oftr*Trustees. We havè nothins to repprt In re5P8Ct of the fdlowln8 matter5 where the Comp3nies Act 2Lh)6 requlres us to report to you Tf, In our oplnlon.. adequate 8ccountln8 ￿told$ have not tRen keptor returnsadequate forouraudlt have not b¢*n WENed from branthes notvl&ted by u5.. Dr the financial stat2tneniS are n¢rln agreement with the accountlng rerord54nd ¥eturn5,' or ertaln disciosurÈs of irustee$' remuneratlon speclfied by law are not made,. or we ￿ve not re¢efveé ¥llthe infoTrnatlun and explanatiens we ieoulreforouraudlt. Be5ptsn$iblltle5 Df trustee5 A5 explainEd mGre fully In the Ststernent of Trustees, ResponsibilrftSes. thetrustses (who ar&also the directors of thètharitablé tompany for the purposes of company lawl are respon51b￿ for the preparatlon or the flnantial stètemEnts and for being satisfied thatthey give a true Ènd f2irvlÈw. and f¢rsu¢h Internal cortrol as the truste25 deterrnine is nere55aryto enable the prEpHrativn of finafi¢lal ststemET)ts thatarefree from material MI￿t?te￿eAl whetherduèto fraud or errgi. In preparing the Pinanclal statements. the trLJSteÈs 3TÈ responsible for assèssing tho chtrftsblÈ tompany's abilityttt ti%itinue As È tolng Co￿ern. disrlosin& ￿ owlicable, matters related to Éoing tontem and u5ing.he golng concern ba515 of accountln¥ unle55 th2 trustee5 Éither intÈnd to Iiqumlate the charitable company ort¢ cease oper3tlon5. or h•veno rei115tlc olteinauve but to do so. Pase 8 REPORT OF THE INDEPENDEIVT AUDITORS TO THE MEMBERS OF GREENDOWN TRUST Our re5ponsibllltle5 fer iho audlt of the fiAan¢ial statements Our objectives arp to obtain reason6ble assurance 8bout whether the flnancial stztements zs a whole are free frorD rD3terial misSt8PemÈnt, whether due to fraud or error, and tD issue a Report of the Independent Auditors that includes our opinion, Reasonable assurance 1$ 3 hS£h level of 855Jr3nce, but Is not a guarantee that an audit condLtcted in accordance wkth ISAS IUKI will always detect terial misstatement when it exists. Misstatements tan arise from fraud or error and Bre considered material il. indivldually or In the aggregate, they could reasonably be expected to influence the econornlc decisions of users taken on the basis of these financial statements. Irregularities, including f￿￿d are Instances of nonseamounts, diseountsd atthe pr4-iax discount rate that reflect5 the risksspeclfic to the liability. The uM￿ndIng of the dlscounl is recosnised in the Consolidated 5taternent of Financial ActlvlUe5 as a finance tost. Flnandal InstrumeThts The ChJrity only has financlal asset5 amd finanu81 liablllttes of 8 that quolwy as b#51c financial Instruments. B8si¢ financlal instruments ère Inltlally reco8n15ed attr2n50tt1on value and subsequentty MeaSu￿d it thelrseL¥emaff valu Penslon e05ts and othe¥ post-rflrement beneflts The Charity pay5defined corrtributlons Into the penslon xhemes ofemployee> These arnO￿tS3re charged to the Ststement of Finanoè1Act￿1ltles as they beEome payal￿e and ir occordonce wlth thew frJnrtIon81cla￿*fft8t1On. 5n¥¢5tment5 Investment5 are ￿¢08￿lsed Initlallyatfalr value whlch Is norynallvlhetTrnsactlonprl¢eexcluQirtg.ransartlon CDSts. Subsequentlv, they ar£ tnea5ured at falr Yalije wilh changes recognised in 'net galns I IIOs5esl Investnents, In the SOFA If the shares are publicly tTrded orthelrfalr value can otherwlse be measured rèlkbly. Debtors and uediiars reeEwab￿7 payable ¥vlthln oneyear Debtors and creditor5 wlth no st3tÈd interest rate and receivable or payable wFthin one year3re recorded ar rransa4tSon prfce. An¥10￿e5 aiisingfrorn impairment are reco8ni5ed In Qxpenditwe. REntalspayable underoperating lea￿ are char￿dt0 the SOFAon 2 straight line b85t5 overthe perfod of the kase. DONATIONS. LEGACIESAND GRANTS 2023 2022 Donaticins. covenants and other IncomÈ Le8a¢ies Grants I￿,848 154 ?5,000 1,387 1,777 $4,528 183,002 57,692 Gr8nts r￿ce￿e￿, IrKluded In the above, are 45 follows.. 2Q23 2022 Lths Clty Counc1￿c￿¥1d 19 sUPPOrt NHS continulDg care Auxlliary Comtnlttee 46,507 8,021 75.000 75.000 54,528 P8ge 17 cantiTyued... GREENDOWN TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnuèd FOR THEYEAR ENDED30TH 5EPTEMYER 20Z3 OTHER TRADING Acxwrifs 2023 2022 Investment InEoTne 33,382 26,262 INCOME FROM CFIARITABLEACflVITIES 2023 2022 AC￿VItY Operatlon of re51denlal sheltered accornrnodatlon Incomefrom resldent5 1,18&330 97L964 ISING FUNDS I￿￿tMent management costs 2023 2022 PortfoIlomana.￿rnent 10,579 8.L65 HARITABLE ACTMTIES COSTS Direct Costs (see note 71 Support costs Isee note 81 Tota15 Operaltsn Df r￿dent￿l Jnd shelt¥ed 3c(ommodifjon 1259.954 25,511 1,285,4 DIREcr ccfrsoFCHARITABLE AcfMTIES 2023 2022 Stth costs and agency ¢ost5 Rate5 ond w*er Insurance Ught8nd I￿at Telèphone Pastage and stationery 5undrie5 Ind￿1￿n5 ruruthent cos Residents fDod Cleanlng and IK)trsehdd expense Staff tolnlnK Travel and motor Repalrs and MaInt￿ance Bank chary SeNice contracts Garden eX￿￿se5 Bèd debi$and released credts AfflllatloTrfee5 Payroll Depredatlon 822214 15.2 13,319 74,864 7,471 7,630 21,281 43,213 36.134 1,?65 9.110 119,754 344 45.400 16.571 781.589 10.655 11,887 59,257 10,080 12.476 30,056 36,386 28,199 1,891 8,699 96.298 383 33,743 14,517 3.974 7,763 3.174 16,349 L167.427 6*14 3.138 11.725 1,259,954 Pay 18 contknued.. GREENDOWN TRUST NOTES TO TrIE FINANCIAL STATEMENTS- contlnued FOR IHE YEAR ENDED 30TH SEpfEMBER2023 SUPPORT COSTS Governance st5 0￿ratIOn of resldentlal and sheltered accommdafjon 25.511 Support costs, included inthe Bbo¥e, are as follows.. 2023 OpEtstiDn 2022 re51dentlal 2nd sheltered a￿0MM0daljOn Totsl Auditor5, rÈrT)uneration Auditors, retnuneotlen for non audlt work Legalfeos 9,440 5.U53 4.211 5,515 ,511 17,726 NET INCOMVIEXPENDrruREI Net irromellexpenditurel 15 5t£tEdafter chartr1ng1lcredlu￿)'. 2023 2022 Audltors, reynuneratlon AuditOT5' remuneratiD• forntsn auditwork Deprpciation owned a55ets 7,900 4,211 16,349 5,053 11,725 io. TRUSTEES. REMUNEPATIONAND B£N£ATS There werÈ no iru5tees' rernuneration or other benefits for the year ended 30th September 2023 nor for the year e￿jed 30th September 2022. Twstees. ¢rypensps There were na trustees, expènsÈ5 pald tor the year ended 30th 5epternber 2023 r)or fortheyearended 30th September 1022. P48e 19 Coniinued.,. GREENDOWN TRUST NOTES TO THE FINANCIAL sfATEMENIS- continued FOR fHE YtAX ENDED 30TH SEPTEMBER Z023 ii. >rAFF C05T5 2013 2027 Wa8￿ ènd 5alarlÈs Scclal 5ecurV(yc05ts ather penslon costs 749,715 53,438 19,061 7CO,893 58,805 21891 8212J4 7SL589 Theavetsge monthly numbpr gf employees dvrtn8 theyearwas as follLIWJ'. 2023 16 2022 22 care llaff Admlnlstradon Man8gerslScheme Managtrs support staff 37 34 No employee5 recelved tmolumer)ts In excessof £60,0￿. The charity consider5 tts key [nan8￿ment pÈrsonnel lin oddltion to the 2oafd of Trustee51 to be thè general manèger and the 5ecretary.'fhe total ￿m￿neratIOn IlncludI￿8 ernpl￿er ￿nSIOn tontributionsl of the key minègemÈnt personnel was £76.713 12022.. £89,7771. COMPARATIVES FQR THE STATEMENT OF RNANCIALAcnMnes Unrestrfrted fund INCOME AND ENOOWMENT5 FROM Donaeon% le￿cleS and 57,692 Chadlable *ivliles Operation of resldertlal and sheltsred accommoda￿On 9n,96 Othertr4d1Tw aciwtle5 Totsl 1.05S,918 EXPENDITufiE ON Raislng fvnd5 8,165 thaAtable artivlties opera￿on of residentlal and shelterEd accommodaiion 1,185,153 Total 1,193,318 Netlair￿/ll0sseSI on Investment5 1148.8S81 Page 20 contlnued... GREENDOWN TRUST NOTES TO THE FINANCIALsfATEMENTS- continued FOR THE YEAR ENDED30TH SEPTEMBER 202a 12. COMPARATIVES FOR THESIATEmE￿f OF NNAP4aALACTIVITIES.wnllnued Uh￿st￿¢te￿ fund NETINCtJMVIEXPÉNDITUREI 1286.28gi RECONCIUATION OF FUNP5 Total funds broughtforwHrd 3,743,lQ4 TOTAL FUNDS CiRRIFD FORWARD 3.456.816 13. TANGIBLE FIXEDAS5Ef5 Flxtures and fitbng5 Freehold property Motor vehicl Tot8 COST At 1st (ktober2022 Addltions Disp4￿al5 2,200,327 315.752 6.167 (1.8491 105.201 2,621.Z80 6.167 IiA491 At30th September 1023 2,200,327 3200 625A9e DÉPRECL4TION At 1st Ortober 2022 Qwrge foryear Ellmlnated on dlsposal 314.613 iJ38 11,8491 64.455 10,18? 379.068 11,725 11.8491 At3Uth Septem￿r 2023 74,642 384944 NET XOOK VALUE At30th SeptttmbÈr 20 2,2QO?27 5,768 30A59 2,236,654 At 30th September2022 2.200,327 I,U9 40,746 2,242.212 Page 21 ontlnued,.. GREENDOWN TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THEYEAR ENDED 30TH SEPTEMBER 2023 FIXEf*ASSET INVESTMENTS Cash ènd setuements pending Listed Investments Tots15 MARKET VALUE At 15tQctober 2022 Additions DL4posals Re￿lUatI£￿5 7*92 106,985 1,109,496 528,228 IS48,1571 7.407 421,243 1548,1571 7,417 At 30th SepterMber2023 982?97 114677 1,096,974 NET BOOK VALUE At 30th Septernber 2023 98Z297 114.677 1,096,974 At 30th Septemb2r 2022 LIOI,804 7.692 I.ID9,496 TherÈweTE no Investment455Ef5 9u¢5ide tle UK. The h￿torICal costasat 30th September 2023 was £939,32012022.. £L116.6491. I Investment5 are canied at thelrfair value. Inve5ttnent In equltie5 aTrdfix2d interest 5eEurities arp all traded in quoted publ[¢ markets, ￿MarI1¥the Londonstock Exchan8e. A5¥el 541e5 4Trdpurrhzse5?re Tero8nised atthe dateof trade at cost lthit Istheir transaction Yaluel. The ￿£￿1￿CanCe of financlal Instsuments to the oTrKoin¥fv)8nt￿l SustaIna￿lIty of the Trust1s con&dered In theflnandèl rJryew and inve5trnent pollcy and performance settions ofthe Trustees, Annual ReporL The main rf5k to the Charity from fin7nclal instruments arises from Un￿rtain investrnent ￿rkets resulting v2rfable InLome capttal returN5 from the portfollo of a￿ets. Currew translafjon risks remalr* for those companles and bondsthat are exposed to over5ea5 earnlngs and is*t& Llquldlty rfsk is antlclpated to be low a5 all assets are traded on the recoEnised exchanges w5th good Ilquidity and hish tradlng vdurne5. The tharfty'5 POrtfolS0 has no materlal Investment hoIdings in markets 5ubje¢t to e¥change controls or tradlng restrittlons. The Charfty m4n4¥es Inve¥trnent risk by appolntlD8 professlonal Inve5tsllent maDager5 ond operatlng an irwestment policy that prD¥ad￿ for a hluh degr2e ol diversifisa￿on of hDldlng5 Wtthin Investnetst a3set d•55es that are quottd or¢ recognlsed stock exd)an2￿. The thritydues Mt make use of dèriv8tiyesand slml1ar¢trrn￿eX fiDand*l instfuments as ittakes the wew that investmentsare held for thdr lon8erterni total return. Pa80 22 continued... GREENDOWN TRUST NOTES TO THE FINANCIAL 5TATEMENTS- cofttlnued FOR THE YEAR ENDED ￿TH SEPTEMBER 2023 DEBTOR5.. AMOUN7S FALUNG DUE WJTNIN ONE YEAR 1013 2Q Fees and rents due Other debtors Prepayrnents and acc￿ed Income 11,376 456 12,116 38.799 656 13,805 23.948 512 16. CREDtTOR5.'AMOUNTSFALLING DUE wifHIN ONE YEAR 202a 2022 Soaal 5ecwityand otheTtaxes Other credltors Atcruals and defetted Income 18.708 12.254 1782 37,640 fQ,326 52,676 17. LWING AGREEMÈNTS MIAlmum lease payments urtder non-csncellable Operati￿ le65esfall dueas follows: 1023 2(r22 thln one year Between i*)e fiveyears 715 715 715 715 IA30 i¥. MOVEMENTIN FUNDS Net movemÈnt ITr funds At ion2 At 3019123 UniÈstrScted fvnds G￿¢￿1 fund 3A56.816 ,006 1564.822 TOTAL FUNDS 3,564.822 Net movement infonth. Included ift the Obove are as follows.. Incorning resour¢es Resources expended Gains ond )5se5 Movement In funds Un¥e5trlcied fun Gexenl ftind ¥404,714 11,296.0441 108,OQ6 TOTAL FUNDS 1ts04.714 296 0441 a6641 Page 23 continued.. GREENDOWN TRUST NOTES TO THE FINANCIAL STATEMENTS- continuèd FOR THE YEAR ENDED 30Th SEPTEMBER 2023 18. MQVEMENTIN FUND5- contlrtued Ciwparat1ves f¢r movem•nt In funrfs Net movement in funds At 1110121 UNe5trfcted funds Gweral fvnd 3,743,104 1286.2881 3,456,816 TOTAL FUNDS 3,743,LQ4 1286,2881 3.456,816 ComparatEve netmovement lrt fund4 Included In the aboveare as follows.. Incomlng rE5vuftes Resources expended Galns and 105ses Movement lunds Unrartrfrttd funds General fund I,OS5,918 Il193.3181 1148,8881 1286.2&81 TOTAL FUND5 L055,918 11.193,3181 lJ48,8881 1286,2881 15. RELATED PARfY DISUOSURES L)uringtheyeaF ended 30¢h September2023 C Greener, thewlfe of SGreeDerlTTYSteel w45 ¢mployed by Greenthwn Tru5t.Thi5 wès on norrn￿ commerclal tem15 and tDtsI remuneratktn 15ncluding emphyér pension tontrfbLrtlcnsl wa5 £31,294120Z2'. E29,3231. Dudng the year ended 30th September 2023 Greendown Trust recesved net tanÉible products afid servtces of £2538 12022.. E2,8681 from PVC Wlndo*4 Medic i relared party vlhlch 15 controlled bythe 50n of S Sreert￿ ITrusteel. Transacbons took place on fi¢rmal commerclal term5. T¥u5tee5 are ￿qUired to dedare an Interest in contracts whlth they are connetked and subsequently wlthdraw from 8ny dlscusslon$ irtYolvin8 such ¢ontra¢t$. 20. CAPITAL Greer￿O￿nTrUSt15 1 charttoble rvrnpany. litntted byguaranteeand hasnosh8rec3pitsl.The mernbers have a8reed to Con￿but￿ £1 eachto the lfvrity's assets in the event of it windin4up, if it a55etSshou￿ proveinsufficient to cover its liabilllle5. 21. TAXATION The charltable company 15 exempt from CDrpor3tion tsx on Its charltable acuv￿￿e5 by vlrtue of section $05 cf the In¢omÈ and cor￿r£t10n TixesArt 1988. The charltable Company Is MtVAT reglstered and does not recoverany èttribut•ble¥alue odded t4 Poge 24