REGISTERED COMPAPIY NUMBER: 02450176 IEnBland and Wales) REGISTERED CHARifi NUMBER: 328465 REPORT OF THE TRUSTEESAND FIP4ANCIAL STATEMENTS FOR THE PERIOD Isr OCTOBER 2023 TO 315r MARCH 2025 FOR GREENDOWN TRUST Thomas Coombs knmited Statutory Avditor Chartered Accountants 3365 The Pentagon Century Way Thorpe Park Leeds West Yorkshire L515 8ZB GREENDOWN TRU5r COKTENTS OF THE FINANaAL STATEMENTS FOR THE PERIOD 1ST IxfoBER 2023 TO aisr MARCH 2025 Pale Referencè ind Admlnlrtr•tl¥e Dètslli Reportofth• Trust••$ Stat•m•nt of Trustees, Responslblllths Report of the Independent Audllors St•tem•nt of Flnthnclil Artlvltlts io l•nu 5h••t li Cash Flow Ststement 12 Notes to the Cosh Flow Ststemenl 13 Not•s to th• Fln•nd•l Stst•m•nti 14 to 25 0•t•S1￿ St•t•ment ot Flnand•l Artlvltl 26 to 27 GREENDOWN TRUS[ REFERENCE AND ADMINISTRATNE DETAILS FOR THE PERIOD 15r ocroBER 2023TO 31ST MARCH 2025 TRUSTEES D Pi¢ker4111 R Phillips S Barnes S Greener Iresigned 2414/251 COMPANY SECRETARY CLCoop REGISTERED OFFICE Dynefey House Allerton Hlll Chapel Allerton LS7 3QB REGISTERED COMPANY NUMBER 024S0176 (England and Wales) REGISTERED CHARITY NUMBER 328465 SEMOR SYA7UTORY AUDITOR Chrfstopher DaNln FCA AUDITORS Thomas Coombs Llmlted Statutory Audltor Chartered Accountants 3365 The PentaÉon Century Way Thorpe Park Leeds West Yorkshlre LS15 8ZB Page I GREENDOWN TRusr REPORT OF THE TRUSTEES FOR THE PERIOD 1ST OCTOBER 2W TO 31ST MARCH 2025 The trustees who are also dlrettor5 of the tharlty for the purp05e5 of the Com￿nI&S Att ZO)6, present thelr report wlth the financlal statements of the char5ty for the perlod 1st October 2023 to 31st March 2025. The trustees have adopted the provisions of Accountlng and Reportin8 by Charltie5: Ststement of Recommended Practlce appllcable to charltles preparlng thelr accounts In a¢cord•nce with the Flnancial Reportin8 Stsndard appllcable In the UK and Republlc of Ireland IFRS 1021 leffectlve I january 20191. OBJEcllvES AND AcllviTIES ObJ•ths and alms The fomial oblects of the charlty as defined In Its memorandum of assoclatlon are: o carry out (alone or wlth other charltlesl the followlng ¢harltable trusts or any of them, namely to asslst needy persons Ilrrespeclfve of rellglonl or to support or promote charftable rell8lous wrrK)ses connected wlth the Chrlstlan Sclence Church In such manner or ways as the Charlty shall from tlme to time thlnk fft and in partltular bLrt wIthO￿ dero8atln8 from the 8enerallty of the foregoifvd to provlde or asslst lflnancially or as hereinafter provldedl wlth the provSslon of Ilvlng accommodation, furnlshed or unfurnlshed, and wlth or wlthout strvlces or othèr facllltlès, for needy pèrsons. and whether by provlding, adaptlng, Improvln& equlppin8, fumlshln& malntalnlng or running home5. h05te15. housts. flats orothÈr dwè111n￿ of any sort or by other means.. Wlthln the above objects, the Trust prO￿deS She￿•1•d hou51ng and resldentlal accommodatlon at Its three propertles, namety: DynelÈv House at Leeds Iresldentlall, Stockwell Lodge at Knaresbor¢)ugh lshelteredl and Valley Lodg• at Ilkl•y1shelteredl. All the wopertles are malntalned to a very hl8h stsndard and are admlnlstered by the Trustees through the General Manager and her te managers. care man38ers and admlnlstratlve staff. Accwntablllty und•r Publk B•n•fit R•qulr•m•nts In accordance wlth thelr dutles pursuant to Sertk)n 4 charltle5 Art 2011, the Trustees h•ve ¢onsldered the Trust's oblects and activltles In Ilght of the Charlty Commlsslon's general 8uldance on publlc beneflt.'Charltles and Publlc Beneflt,. In relatlon to the first Ilmb of the publlc beneflt test set out in the guldance, the oblects are defined In the Memorandum of Asso¢latlon nd the Trustees are satlsfled that each of these Is of benefit to the publlc. The Oblerts emphaslse the provSslon of 5ubsld15ed resldentlal care and sheltered accommodatlon, whlch ts In evldence In the runnin8 of the Twst, and Clearly provldes SUPPOrt to those In need wlthln the communlty. In relatlm to the second Ilmb of the test, the trustees enwre that the publlc it lar8e benelli from the actlvltles of the tnjst and that there is no private benefit, Incldental or otherwlsÈ. 6y the nature of the artlvltles perfom)•d, the f¥t that none of the Trustees reslde at any of the propertles ensure5 that the trustees do not enjoy any benefit. incldental or otherwlse, from thelr posltlon. As a result of bein8 able to house up to 109 re55dents over three 5ite5 durlng the period ended March 2025, they and the famllles and connectlons of those who are a¢commdated enjoy the beneflts of the servkes provlded, and 05 such, the publlc at large benefot from the charitable actlvltie5. The charlty does not dlscrlmlnate a8aln9t anyone on the grounds of the ablllty to pay. Wlthln the alms of the Charlty, appllcatlons are Invlted from anyone In need, and a5$1stance wlth obtslnln8 fuTrJin815 8lven If requlred. The tru5tee5 regularly keep the attlvltles of the Trust under revlew. to ensure that they are of 5ufficlent benefit to the publ1¢ SThATEGIC REPORT Ad*vement and perforn￿￿e Chariiable artmdes The Trust has made the dlfflcult deds5on to close Dyneley House durin8 the reportln8 perlod. Thls declslon followed an exiended period of decllning occupancy* rising operating costs, and slgnlficant challen8es in maintalnlng financlal stablllty, partlcularly considerln8 ongoln£ changes to the soclal care landscape in the UK. Desplte the derficatlon of staff and Trustees to preserve the care home's services, the model had become unsustainable. The closure was managed 5ensltlvely. with careful attentlon to the welfare of re5idÈnts and staff. Greendown Trust's two Independent llv1￿ schemes have remalned strong throughout the year. Both schèmes malntsln hSgh levels of occupancy and continue to operate on a profltable basls. provldlnB quallty, supported houslng to resldents in line with the charlty's objertives. The TnJstee5 are pleased with the stabllSiy and effecrlveness of these scheme5. Page 2 GREENDOWN TRUST REPORT OF THE TRUSTEES FOR THE PERIOD 1ST OCtOBER 2023 TO aw MARCH 202$ STrATEGIC REPORT FlngncSal revl Flnanclal PD51tIo The financial ststements comply wlth the Companles Act and the Ststement of Recommended Practlce on Accounting by Charlties and the condbtions in the Companvs Mernorandum and Articles of Assoclatlon. The financlal results of the charlty are shown In the annexed financlal ststements. The financial performance of the Trust reflects the operatlonal transltion undertaken durlng the year. Whllè the closure of Dyneley House Involved associated costs. the on8oln8 success of the Independent livlng schemes has ensured the charlty remalns on a sound financlal footlng. Prlndpal fundln8 Sources Durlng the year ended 31st March 2025, 93% 12023: 85%) of the charity's Income arose from rents and seNl¢e charges for the occupatlon of resldentlal and Sheltered ac¢omm¢xlatlon owned bythe charlty. In¥estm•nt pollcy •nd oblertlves The Trustees have consldered the most approprlate pollcy for the Investment of funds and have declded that, Iven the demand on worklng capltal, Investment In the form of cash and investments are normally the most approprlate actlon. The Investments amount to £508,899 whlch are managed by Redmayne-Bentley LLP, Stockbroker& All other monles not reqU5￿d for Immedlate use are kept on deposlt. The Trustees wlll monltor the performance of the Investment manb8er5 a&?Sn5t the ARC Income Index. R•wves pollcy Lookin8 forward. the Trust plans to sell the Dyneley House property In the comlnB Year. It Is antlclpated that the proceeds from the sale wlll provlde a slBnOficant financlal resource. The Trustees Intend io use the net proceeds to embark on a new projec( whkh Is currently under revlew and wlll be all8ned wlth the Trust's alms, whlch may Include Investment In new servlces ty Inltlatlves that meet unmet needs In the local communltle5. The Trustees wlll formulate a revlsed reserves pollcy suitsble to the r•v15•d clrcumstances of the ¢harSty overthe comin8 year. F4rtur• The Trust Is ¢ommltted to bulldlng oft tts successful Independent livln8 seNl¢es and wlll contlnue to explore how best to evolve and expand Its charttable Impart In a wstalnable way. The Trustees remaln optlm15tlc aboul the ch8rlty's dlrertlon and are focused on contlnulnB to provlde quallty, compassionate housln8 and support for its beneficlarles. STRUCtURE, GOVERNANCE AND MANAGEMENT Governlw document The charity Is controlled by Its 8overnln8 documenL a deed of trust, and constltute5 a Ilmlted company, Ilmlted by guarantee. as deflned by the Companles Act 2006. The charlty Is controlled by Itsgovernlng documenL a deed of trust, and ￿nstItuteS a Ilmlted company,1Smlted by 8uarantèe, as defined by the Companles Art 2006. The legal ststus of Greendown Trust Is that of a Company Llmlted by Guarantee established on 7 December 1989. The name of the company was changed on 14th May 2006 from GreèrKlown Trust Llmlted to Greendown Trust. The company Is re8istered as a charlty under The Charlties Act 2011 andls governed by its Memorandum and Artkles l as amended 30th Au8USt 20191. At 31st March 2025 there were 3 members whose liability is limite(1 to £1 each In the event of the liquidation of the company. A succession plan is in place to recruit newTrustees. Pa8e 3 GREENDOWN TRUST REPORT OF THE TRUSTEES FOR THE PERIOD 1ST OCTO8ER 2023 TO 315r MAACH 2025 sTrvcfuRE, GOVERNANCE AND W4NAGEMEprr R•crultment and appolntment of nèw trustees Detslls of the Trustees who have Served durln8 the yearare Ilsted on page l. The dlrectors of the charttable company are also Its Trusiees for the purpose of charlty law and slt on the Trustee Board. Trustees shall number no less than three. At every Annual General Meeting of the company one-thlrd of the Board of Trustee5 shall retire from office and if willln8 and ellglble will offer hlmself or herself for repelection. The Board of Trustees has the power at any tlme to appolnt anv person to be a trustee. ¢￿￿1$*tIonal strurtur• Following the closure of Dyneley House and employee redundarKles, a nÈw 8enernl manager wlll be appolnted to oversee the two Independent lfvlng schemes and act a5 Trust Admlnlstrator and Company Secretary. Inductlon and traInI￿ of n•wtr¥st•es Indivlduals Interested In be￿mIr* Trustees are Invbted to loln board meetln8s, Inltially as obsèrvÈrs. Indlvlduals who exhlblt skllls suitable for the charlty and show a contlnued Interest In the actlvltle$ of the charlty are then Snvited to become a trustee and are provlded wlth Charlty Commlsslon publications on the responslbllltles of a trustee. Key management remurneratloft The trustees conslder that the board tO6ether wlth the manager and trust admSnlstratorlcompany secretsry comprlse the kev mana8ement personnel of the chailty In charBe of dlrectln8 and controlllnB the charlty and runnln8 and operatln8 the charlty on a dav to day basls. Detalls of key management personnel remuneratlon15 detslled In note 11 to the financlal statements. Key management remuneratlon 55 set by the trustees and revlewed on an annual basls. Related partl Any Indlvldual wlth an Interest In a matter belng discussed at a meetlnB must declare the Interest to the meet1￿. The chalrman of the meetlnB wlll then declde whether that IndlvSdual should wlthdraw durln8 the d15CU55ion and. If not, whether the IndlvSdual should be entltled to vote on the matter under dlscusslon. Rhk m*n88ement The Trustees have identified and actlvely revlew the malor rlsks to which the Tnjst Is exposed. These rlsks Include.. o Loss ol Income and bad debts o Cost of malor repalrs o Employers Ilablllty and thlrd party clalms; and o Changes in leglslation relatlnE to provlslon of zccommodatlon for the elderly. In each case, steps have been taken to mitigate these rlsks where posslble whether by Insurartce or by provldlNd a Sufflc1en￿ of Ibquld re50ur¢es. In additlon. the Trustees contlnue to revlewthe sirenBths and weaknesses of theTrust Sn order to Identlfy further r5sks. EVENTS SINCE THE ENO OF THE PERIOD Informatlon relatln8 to events 5in¢e the end of the pèrlod Is glven In the notes to the financlal statements. AUD[￿R$ The auditors. Thomas Coombs Umlted, wlll be proposed for rev8PkW)intment at the forthcomln8 Annual General Meetln8. Report of the trustees, incorporating a strateglc report, approved by order of the board of tTU5tee5. as the company dlrertots. on 8th July 2025 and slgned on the board's behalf by: R Phillips- Trustee Page 4 GREENDOWN TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE PERIOD oc￿BER 2023 TO 315r MRCH 2025 The trustees (who are also the dlrectors of Greendown Trnst for the purposes of company lawl are responslble for preparing the Report of the Trustees and the financial statements in accordante with applicable law and United Kin8dom AccountOn8 Standards (United Kln8dom Generally Accepted Accountlrq Prartlcel. Company law requlres the trustees to prepare ftnanclal ststements for each flnanclal year whlch 8lve a true and falr vlew of the state of affalrs of the charltable company and of the Incomln8 resources and applicat5on of resources. Includln8 the Income and expendlture. of the charitsbk companyfor that period. In p￿Paringth0se financial ststements, the trustees are required to select suitable a¢countin8 policies and then apply them conslstently: observe the methods and principles in the Charity SORP.. make judgements and estlmates that are reasonable and prudent,. state whether applkable ac¢ountln8 Standards have been followed, subjert to any materlal departures dls¢losed and explalned In the flnanclal statements,. prepare the financial statements on the golng concern basls unless It is inapproprlate to presume that the eharttable company wlll contlnue In buslness. The trustees are re5pon51ble for keepln8 proper accountlng records whlch dlsclose woth reasonable •¢curacy at any tlme the financlal P051tlon of the charltable company and to en8ble them to ensure that the flnanclal ststements comply wlth the Companies Act 2006. They are also responslble for safeguardlng the assets of the charltsble company and hence for t4kln8 ￿asonable steps for the preventlon and detectlon of fraud and other Irre8ularltles. In $0 fara5 the Irustees are aware: there15 no relevant audlt Snformatfon of whlch the ¢harltable company's audltor5 are unaware; and the trustees hbve taken all steps that they ought to have taken to make thernsefves aware of any relevant audlt Informatlon and to establlsh that the Zudltors are aware of that Informatlon. Page 5 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF GREENDOWN TRUST Oplnlon We have audited the financial statements of Greendown Tru# Ithe '¢harltable company'l for the peflod ended 31st March 2025 which comprise the Statement of Financial Activities. the Balante Sheet, the Cash Flow Statement and notes to the financial statements, IncludlnB a summary of 51gnlflcant accounting policies. The financial reporting framework that has been applled In their preparatjon ts appllcable law and United Kingdom Ac¢ountlnK Standards Iunlted KI￿d0M Generally Accepted Accounting Practlcel. In our oplnlon the ffnanclal stalements., 8Sve 3 true and falr vlew of the state of the charitable company'5 aflairs as at 31st March 2025 and of Its Incomlng resource5 and application of resources, indudln8 Its Income and expendlture, for the perlod then ended,. have been property prepared In accordance wtth Unlted Klngdom Generally Accepted A¢countln8 Practlce,. and have been prepared In accordance wilh the requlrements of the Companles Att 2￿j6. B•sts for ¢wlnlon We conducted OUT audlt In accordan￿ wlth International Standards on Audltlng IUKI IISAS IUKII and appllcable law. Our responslblllties under those standards are further de5crlbed In the Audltors, re5ponslbllltles for thè ludlt ol thè financlal statements sectlon of our rep￿. We are independent of the charltable company In accordance wlth the ethlcal requlrements that are rèlevant to our audlt of the finan¢lal statements In the UK, INludln8 the FRC'S Ethlcal Standard, and we have fulfllled our other ethical re5Ptsrtslbllltles In accordance wlth t￿se r•qulr8ments. We belleve that the audit evidence we have obtalned Is sufflclent and approprlate to provlde a basls for our OF4nlon. conclus1¢￿ relatlnB to 8oln8 concern In audltln8 the flnanclal statements. we have concluded that the trustees, use of the golng concern basls of a¢countln8 In the preparatlon of the flnancial statemènts Is approprlate. 8a5ed on the work we have performed, we have not Identlfiefl hny material uncertalntles relatln8 to events or condltlons that, Indivldually or collectively, may cast sl8nlflcant th)Lsbt on the charltable company's ablllty to contlnue as a 8oln8 cvn¢èm for a perlod of at least twelve months from when the hnanclal statements are authorised for Issue. Our responslbllltles and the responslbllltles of the trustees wlth respect to golrq concern are de5crlbed In the relevant sectlons of thls Other Informotlon The trustees are responslble for the other Inform?tlon. The other Information comprises the Informatlon IrKluded Sn the Annual Report other than the financial ststements and our Report of the Independent Audltors thereon, Our oplnlon on the ffinanclal statements doe5 not cover the other inform8tlon and, except to the extent otherw5se explkltly stated In our report, we do not express any forni of assurance concluslon thereon. In eonnettlon wlth our audlt of the financlal statements. our respon51blllty Is to read the other Inforrnatlon and, In dolng so. conslder whether the other Informatoon Is materially Inconslstent wlth the flnanclal statsments or our knowledge obtained In the audlt or otherwlse appears to be materially mlsststed. If we Ident￿ such materlal inconslstendes or apparent materlal mlsstatements, we are rèqulred to dètermlne whether thls glves rise to a materlal mlsstatement In the flnanclal statements themselves. If, based on the work we have performed, we concludè that there Is a material misstatement of thls other information, are requlred to report that facL We have nothlnK to report in thls regard. Oplnlons on other matter5 pr•scrlb•d by th• Com￿nI¥S Act 2006 In our oplnlon, based on the work undertaken In the course of the audlt.. the infomation alven In the Report of the Trustees for the flnanclal year for whlch the financial statements are prepared Is consistent with the financlal statements.. and the Report of the Trustees has been prepared In ac￿rdanCe wlth appll¢able le8al requlrements. Pa8e 6 REPORT OF THE INDEPENDENT AUDITORS TO THE MEM8ERS OF GREENDOWN TRUST Matters on whl¢h we are requlred to report by •xc•ptlon In the light of the knowled8e and understandln8 of the charitable company and It5 envlronment obtalned In the course of the audfiL we have not Identitied material mi5Statements In the Report of the Trustees. We have nothing to report in respect of the following matters where the Companles Act 2006 requires us to report to you If. in our opinion.. adequate accountlng records have not been kept or rètums adeqlla￿ for our audit have not been recelved from branches not vlslted by us; or the flnantlal staternents are not In agreement wlth the a¢¢ountln8 records and returns,, Of certain disc105ures of trustees, remuneratlon 5peclfied by law are not made: or we have not recelved all the Informatlon and explanatlons we requlre for our audlt. Responslbllllles of trust••$ As explalned more fully In the Statement of Trustees, Responslbilltles, the trustees Iwho are also the dlrector5 of the charltable company for the purposes of company lawl are re5pon51ble for the prèpaiatlon of the flnanclal statements and for belng satisfled that they glve true and falr vlew. and for such Internal contml as the trusteès dètènnlnè Is necessary to enable the preparatlon of flnanclal statements that are free from materlal mlsstatement, whether due tofraud or error. In prepJrlng the flnan¢lal statements, the trustees are responslble for as5esslng the eharitable company's ablllty to contlnue as a golni concern, d15closln8, a5 appll¢able. matters related to 8oln8 concern and uslng the golng concern basls of accountlng unless the trustees elther Intend to Ilquldate the charltable cornpany or to cease operatlons, or have no reallstlc altèrnatlve but to do so. Page 7 REPORT OF THE INDEPENDENT AUDrroRS TO THE MEMBERS OF GREENOOWN TRUST r responsNAlhlesforihe audt of the financlal statsments Our objectlves are to obtain reasonable assurance about whether the financTral statements as a whole are free from materlal misstatement. whether due to fraud or error, and to Issue a Report of the Independent Auditors that includes our opinion. Reasonable a￿uranCe is a hi8h level of assurance. but is not a guarantee that an audlt conducted In accordance with ISAS IUKI wlll always detect a material m15Statement when it exists. Misstatements can arise from fraud or error and are consldered materSal ff, Individually or In the aggre8ate, they could rea50nabty be expetted to Infiuence economlc declslons of users tsken on the bas1$ of these financlal Statements. The extent to whlch our procedure5 are capable of detectlng Irregularltles. IncludlnB fraud Is detailed below.. Irre8ul8rltles, Includin8 fraud are Instances of non-compllance wlth laws and regulatlons. We de518n procedures In Ilne with our responslbllltles, outllned above, to detect materéal mlsststements In respect of Irre8ularlties, Includlng fraud. Th¢ extent to which our o¢edures are ￿pable of detectlng Irregularltles, Including fraud is detalled below: Based on our understandlng of the entlty and Industrfes In whlch It operates, we Identlfied the prlnclpal rlsks of non-compllance wlth laws and regulatlons related to heèlih and safety, safe8uardlng* employment law and data protectlon. We also consldered those laws and re8ulatlons that have a dlrecl Impart on the preparatlon of the flnanclal statements such as the Companle5 Act 2006. tax le8lslatlon and the Flnanclal fleportlni Standard appllcable In the UK and Republic of Ireland IFRS 1021. We assessed the $usceptlbillty of the company's flnanclal statements to material mlsstatement and how fraud ml8ht occur. Includln8 throu8h dlscusslons wlth the dlr•ctor5, dlscusslons wlthln our audlt team plannln8 meetlw, updatln8 our record of Internal controls. and ensijrlng these controls operated as Intended. We determlned the prlnclpal rlsks were related to postln8 journal entrles to rnanlpulate surpluses. and management blas In accountln8 estlmates, To address the rlsk of fraud through management blas and overrlde of controls. we: Perfomied analytl¢al protedurès to Identlfy any unusual or unexpected relatlonshlps. Investlgated the ratlonale behind sl8nifl¢¥rtt or unusual transactions. Challenged assumptlons and Judgements made by management In determlnln8 si8fblflcant accountln8 estlmates. In response to the rlsk of Irre8ularltles and non-compllance wlth laws and regulatlons. we deslgned audlt procedures whl¢h Included, but were not Ilmited to: - P4reeln8 flnanclal statements dlsclosures to underlyln8 supportlni documentatlon. - Dlscussions with management of known or suspected instances of non.complian¢ewlth laws and re8ulatlons. Readin8 the MIn￿e5 of meetin8$ of thosè charged wlth governance. - RÈvlewlng corrèspondence wlth relevant re8ul•tors Includln8 Chgrlty Commission. At the completlon Stage of the a￿11( the en8a8ement partnerfs revlew Induded ensuring that the team had approa¢h•d thelr work wlth approprlate professlonal sceptlc15m and thu5 the capaclty to Identlfy non-¢c4nplIa￿è wlth laws and regulatlons and frnud. There are Inherent Ilmltstlons In the audlt prO￿d￿re$ de5crlbed above and the further removed non.' P•rlod V10123 Year Ended 3019123 3113125 Audltors, remuneratlon AudStors' remuneratlon for non audit work Depre¢latlon- owned assets 12,014 9,927 14WI 9,440 5,053 11,725 io. TrUSTEES' REMUNERATION AND BENEFTrs There were no trustees, remuneratlon or other beneflts for the perlod ended 315t March 2025 nor ftir the year ended 30th September 2023. Trustees, expenses There were no trustees, expen5e5 pald for the perfod ended 31st March 2025 nor for the year ended 30th September 2023. Pa8e 19 contlnued... GREENDOWN TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR ThE PERIOD I￿ o￿oBER ZIJ23 TO 31ST MARCH 2025 ii. rAFF COSIS Perlod 1110123 Year Ended 3019123 3113125 Wages and 50larles Soclal security costs Other penslon costs 1,285.222 102,658 30,786 749,715 53,438 19,061 IA18,666 822,214 In addftlon to the at*)ve amounts redundancy costs of £197,500 were provlded for at 31st March 2025. The averap monthly number of employees durln8 the perlod was as foll¢)WS: PerSod VIO123 lo Year Ended 3019123 26 3V3125 24 c0￿5tsff Adminlstratlon Mana8èrslS¢heme Managers Support staff 37 No employees recelved emolumerts in excess of £60,000. The charity conslders its key management personnel lin addltlon to the Board of Trustees) to be the 8eneral mana8er and the secretary. The total remuneratlon (Includlng employer penslon contribLrtlonsl of the key management personnel was £134.949 12023: £76.7131. COMPARATIVES FOR THE STATEMENY OF ANANCIAL ACTIVITIES Unrestrlcted fund INCOME AND ENDOWMENTS FROM Donatlons, leBacies and 8rants 183,002 Ch•rlt•bl• •ctl¥ltl•s Operatlon of resldentlal and sheltered a¢commodatlon 1,188,330 Othertradln8 artivlties 33,382 Total 1,404,714 EXPENDITURE ON Raising funds 10,579 Page 20 continued... GREENDOWN TRusr NOTES TO THE FINANCIAL STATEMENT5- continued FOR THE PERIOD Isr OCTOBER 2023 TO 31ST MARCH 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIMTIE5- contlnued Unrestricted fund Ch•rhable artl¥ltles Operation of residentlal and sheltered accommodatlon 1.285,465 Tot•1 1,296,044 Net galnslllossesl on investments 1664) NEf INCOME IO&OOG RECONCILIATION OF FUNDS Total fund5 brought forward 3.456,816 TOTAL FUNDS CARRIED FORWARD 3,564,822 TANGIBLE FIXED ASSEIS Flxtures and flttln85 Freehold property Motor vehlcle5 Totals COST At 1st October 2023 Addklons 2200327 320,070 1,350 105,201 2,625.598 L350 At 31st Ma￿h 2025 2,200,327 3ZIA20 ios3oi 2,626,948 DEPRECIATION At 1st October 2023 Charge for year 314,302 74,642 IlJ60 388,944 14,841 At 31st March 2025 317,683 86,102 403,785 NET 800K VALUE At 31st March 2025 2,200,327 19m9 223, At 30th September 2023 2,2(￿.327 5.768 30.559 2,236,654 Page 21 contlnued,.. GREENDOWN TRUST NOTES TO THE FINANaAL STATEMENTS- Contlnued FOR THE PERIOD 1ST ocfo8ER 2023 TO 31sr MARCH 2025 14. FIXED ASSET114VESTMENTS Cash and settlements pendln8 Listed Investments Totals MARKEf VALVE At 1st October 2023 Additlons Disposals Revaluations 982,297 355,872 1868N45 (￿,895 114,677 IA196P74 355,872 1930.IJ641 {13W31 161,6191 At 31st March 2025 455,841 53,058 NET BOOK VAWE At 315t March 2025 4SS,841 53,058 508,899 At 30th September 2023 982,297 114,677 1.096.974 There were no Investment assets outslde the UK. The hlstorOc31 c05t a5 at 31st March 2025 was £444,61612023: £939,320). All Investments are carrled at thelr falr value. Investment In equltles and flxed Interest sectsrlties are all traded In quoted public markets, primarlly the London St¢xk Exch¥n8e. Asset sales and purchases are retO8nised at the date of tiade at cost Ithat Is thelrtransactlon valuel. The signlflcance of financlal Instruments to the ongoSng flnandal sustslnablllty of the Trust Is considered In the flnancial revlew and Investment pollcy and performance sertions of the Trustees, Annual Report. The maln r15k to the Charity from flnanclal instrument5 arises from uncertaln Investment markets resultln8 In varlable Income and capltal retums from the portfollo of 8s5et5. Currenty translatlon r15k5 remaln forthose companles and bonds that are exposed to overseas earnlngs and assets. Uquidity risk Is antltipat*d to be low a5 311 o55ets are traded on the rewnlsed exchan8e5 wlth good Ilquldlty and hi8h tradin8 volumes. The Charivs ￿rtfolIO has no material investment holdln85 In markets Subject to exch3n8e controls or tradlng restrictlon5. The Charlty rnanaBes Investment rlsk by appolntlnB professlonal Investment managers and operatln8 an Investment pollcy that provldes for a high degree of dlversification of holdlngs wlthln Investment asset classes that are quoted on reco8nised stock excharvdes. The Charlty does not make use of derlvatlves and slmllar complex financlol Inslruments as It lakes the vlew that Investments are held forthelr longer tsm) total retum. Page 22 continued..- GREENDOWN TRusr NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR ThE PERIOD ocfoBER 2023 TO alST MARCH 2025 15. DEBTORS: AMOUNTS FALLI￿ DUE WITHIN ONE YEAR 2025 2023 Fee5 and rents due Other debtors Prepayments and a¢crued Income 7j￿5 11,376 456 12,116 12.367 20J)18 23,948 16. CREDITOR5: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2025 2023 Trade credltors Soclal securlty and other ta Other credltors Accruals 8nd deferred Income 12,443 14,293 8,889 210,251 24,172 18,708 7,722 9,724 245.876 60,326 17. LEASING AGREEMENTS Mlnlmum lease payments under non