COMPANY REGISTRATION NUMBER: N1704203
CHARITY REGISTRATION NUMBER.. 109929
The ARN Foundation
Company Limited by Guarantee
Financial Statements
24 July 2025
MANEELY Mc CANN AUDIT LIMITED
Chartered Accounlants & Statutory Auditor
Aisling House
50 Stranmillis Embankment
Belfast
BT9 5FL

The ARN Foundation
Company Limited by Guarantee
Flnancial Statements
Year ended 24 July 2025
Contents
Page
Trustees, annual report (incorporating the directorfs report)
Independent auditor's report to the members
Consolidated Statement of Financial Activities (including the
consolidaled income and expenditure account)
Consolidated statement of financial position
Company statement of financial position
Consolidaled statement of changes in equity
Company slatement of changes in equity
Consolidated statement of cash ftows
10
11
12
13
14
15
Notes to the financial statements
16

The ARN Foundation
Company Limited by Guarantee
Trustees. Annual Report (Incorporatlng the Director's Report)
Year ended 24 Jul 2025
The Iruslees, who are also the directors of the parent charitable company for the purposes of
company law. present their report and the financial slalements of the charity for the year ended
24 July 2025.
Reference and admlnlstratlve details
Reglstered charlty name
The ARN Foundation
Charity reglstratlon number
109929
Company reglstratlon number N1704203
Principal offlce and reglstered CIO Maneely Mc Cann
offlce
50 Stranmillls Embankment
Belfast
Northern Ireland
The trustee$
Alan Nappln
Michael Blair
Alan Campbell
Alice Kerr
Jill Holden-Downes
Celia Worthinglon
Audltor
Maneely Mc Cann Audit Limited
Chartered Accountants & Slalulory Auditor
Aisling House
50 Stranmillis Embankment
Belfast
BT9 SFL
Bankers
Danske Bank
Donegall Square West
Belfast
BT1 6JS
Structure. governance and managemgnt
The ARN Foundation Limited was registered as an incorporated charity with the Northern Ireland
Charity Commission on 29th February 2024 operating under Memorandum and Articles of Associatlon
dated 3rd November 2023. New trustees can be appointed al any lime by a resolution of a meetlng of
the trustees.

The ARN Foundation
Company Llmited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (continu
Year ended 24 Jul 2025
Objectlves and activities
The purpose of the chatlty 18 to provide grants to or for the benefit of any institution which is defined as
a charity for the purposes of UK legislation. The charity seeks lo benefit other charities which support
the purposes of advancing health or saving of lives and the relief of those in need by reason of youth.
age, ill health. disability. finaneial hardship or other disadvantage. Support is provided by way of grants
with the aim of..
reducing social isolation
improving people's health
providing relief and opportunlties for the elderfy and those suffering with ill health. disability.
financial hardship Of Other disadvantages, or physical or mental health issues
promoting community development and citizenship projects
improving employment prospects for youth. persons with disabilities or other disadvantages
funding medical research, end of life care. humanitarian aid, health awareness and promotion
projects
funding emotional and financial support lo patients and famllies
funding projects lo improvo healthcare and research into a number of diseases affecting the public
generally or which aim lo improve the comfort and wellbeing of patients through the provision of
care. residential facilities and advice.
The trustees are satisfied that the purposes of the charity satisfy both elements of the public benef
requirement. The direct benefits whlch flow from the purposes are the financial contribution lo or for
the benefit of any institution which Is a charity as defined by UK legislation. All grants are assessed
pr¢or lo being awarded to ensure the purposes are fulfilled, and also to ensure that the benefits
outweigh any potential harm. The beneficiaries of those charitable organisations will be the ultimate
beneficiaries, which will usually be the general public. and while specific grants may be more limited in
scope, they will be assessed lo ensure that the public benefit requirement is fulfilled. Through the
assessment process the trustees satisfy themselves that the recipiènt charities are charitsble under
the law of England, Wales, Northern Ireland or Scotland.
In addition to direct grants lo UK charities decided upon by the Board of Trustees. The Community
Foundation for Northern Ireland. which is itself a charity, assists the Board in publicising funding
rounds to the charitable sector. CFNI assists with assimilating and evaluating applications received for
funding and makes Tecommendalions to the Board. The decision on which charitable projects to
support is taken by the Board.
Strateglc report
The followng seelions for achievements and performance and financial review fonm the strategic
report of the charty.

The ARN Foundation
Company Limlted by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (￿￿1￿n￿ed)
Year ended 24 July 2025
Achievements and performance
The charity ggnerates funds from investments and donations. During the perlod. the eharily received
donations of £567,098 (including £446,582 of a gift of the issued share capital of the subsidiaries and
£80,516 from the transfer of funds from cessation of the unincorporated ARN Foundation charity) and
made grants of £223,500.
During the year, the charity received a gift of 760A of the issued share capital of Green Road
Properties Limited and ARN Properties Limited. This has been recognised in the accounts as a gift in
kind income of £446,582 and as an investment in group undertakings. The subsidiaries will be used to
carry out trading activities to support the charity's objectives.
The beneficiaries of grants for the period include..
Angel Eyes
Camphill Communities Trust {N.l.I
Caneer Fund for Children
Children to Lapland
Cystic Fybrosis
Homeslart
Horatio's Garden
Integrated Education
Ulster Orchestra
Finan¢lal ieview
As at 24th July 2025, the charity had unrestricted reserves of £387,380. The charity holds reserves for
future grants. In the year ended 24th July 2025, the parent charitable company had a positive riel
movement of £659,197.
Trustees, responsibilities statement
The trustees. who are also the directors of the parent charitable company for the purposes of
company law, are responsible for preparing the trustees, report and the financial slalements in
accordance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom
Generally Accepted Actr)unting Practice). Company law requires the charity trustees to prepare
financial statements for each year which give a true and fair view of the stale of affairs of the
charitsble company and the incoming Tesources and application of resources. including the income
and expenditure, for that period.
In preparing these financial stalemenls. the trustees are required to:
select suitable accounting policies and then apply them consistently.
observe the methods and principles in the applicable Charities SORP.,
make judgments and accounting estimateg that are reasonable and prudent;
slate whether applicable UK Accounting Standards have been followed, subject to any malerfal
departures disclosed and explained in the financial statements,.
prepare the financial statements on the going concern basis unless il is inappropriate lo presume
that the charity will continue in business.

The ARN Foundation
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Dlrector's Report) Icontinuedj
Year ended 24 July 2025
The trustees are responsible for keeping adequate accounting records that are sufficient to show and
explain the charity's transactions and disclose with reasonable accuracy al any lime the financial
position of the charity and enable them to ensure that the financial slalemenls comply with the
Companies Act 2006. They are also responslble for safeguarding the assets of the charity and hence
for taking reasonable steps for the prevention and deteclK&n of fraud and other irregularrties.
statement of disclosure of Infomiatlon to audltors
Each of the persons who is a Iruslee at the date of this report eonfirms that:
there is no relevant audit inlormalion of the Charltable Companls consolidated financial
slalemenls for the year ended 24 July 2025 of which the company's auditors are unaware..
and
the Iruslee has taken all the steps that they ought lo have taken as their duty as a trustee In
order lo make themselves aware of any relevant audit information and to establish that the
company's auditors are aware of that information.
Small company provlslons
This report has beon prepared in accordance with the provisions applicable to companies enlilled to
the small companies exemption.
The trustees, annual report and the strategic rett)rt were approved on 22 May 2026 and signed on
behalf of the board of trustees by..
Alan Nappin
Director

The ARN Foundation
Company Limited by Guarantee
Independent Auditor's Report to the Members of The ARN Foundation
Year ended 24 July 2025
Oplnlon
We have audited the financial statements of The ARN Foundation (the 'parenl charitable Company'l
and its subsidiaries (the 'group'l for the year ended 24 July 2025 which comprise the consolidated
slalemenl of comprehensive income, consolidated statement of financial position, cornpany statement
of financial position, consolidated slalemenl of changes in equity, company slalemenl of changes in
equity, consolidated statement of cash flows and the related notes, irkcluding a summary of significant
accounting policies. The financial reporting framework that has been applied in their preparation is
applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting
standard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted
Accounting Practice)-
In our opinion the financial statements=
give a true and fair view of the stale of the group's and of the parent charitable companls affairs
as at 24 July 2025 and of the group's incoming resources and application of resources. inclLtding
ils income and expenditure for the year then ended.,
have been properly prepared in accordance with Unlted Kingdom Generally Accepted
Accounting Practice-
have been prepared in accordance with the requirements of the Charities Act (Northern lielandl
2008.
Basls for oplnlon
We conducted our 8udil in 8ccordance with International Standards on Auditing (UK} {ISAs IUKI} and
applicable law. Our responsibilities under those standards are further described in the auditor's
responsibilities for the audit of the financial statements section of our report. We are independent of
the group and parent charitable company in accordance with the ethical requirements that are relevant
lo our audit of the financial statements in the UK. including Ihe FRC'S Ethical Standard, and we have
fulfilled our other ethical responsibiltties in accordance with these requirements. We believe that the
atjdil evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relatlng to golng concem
In auditing the financial stalemenls, we have concluded that the trustees, use of the going concern
basis of accounting in the preparation of the financial statements Is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating lo
events or conditions that. individually or collectively, may cast significant doubl on the group or the
parent charitable company's ability to continue as a going concern for a Peri￿ of al least twelve
months from when the financial statements are aulhorised for issue.
OLtr reswnsibilities and the responsibilities of Ihe director with respect to going concern are described
in the relevant sections of this report.

The ARN Foundation
Company Limited by Guarantee
Independent Auditor's Report to the Members of The ARN Foundation {conllnued)
Year ended 24 July 2025
other Information
The other informallon eomprises the information inclLJded in the trustees, annual report. other than the
financial slalemenls and oui auditor's report Ihereon. The trustees are responsible for the other
information. Our oplnion on the financial statements does not cover the other information and, except
to the extent otherwise explicitly staled in our report. we do not express any lom) of assurance
conclusion thereon.
In connection with our audit of the financial slalemenls. oui responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsislenl with the
financial statements or our knowledge obtained in the audit or otherwise appears lo be materially
misslaled. If we identify such material inconsistencies or apparent material misslalements, we are
required to determine whether there is a material rnisstatement in the financial slalemenls or
material misstatement of the other information. If, based on the work we have performed, we conclude
that there is a material misstatement of this other informatiorb. we are required lo report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by ex¢eptlon
We have nothing lo report in respect of the following matters in relation lo which the CharS1ies
(Accounts and Reports) Regulations {Northern Ireland) 2015 require us to report to you if, in our
op.irbiOn'.
the information given in the Iruslees, report is inconsistent in any material respect with the
financial stalemenls,. or
sufficient accounting records have not been kept- or
the financial statements are not in agreement with the accounting records. or
we have not received all the information and explanations we require for our audit.

The ARN Foundation
Company Limited by Guarantee
Independent Auditorfs Report to the Members of The ARN Foundation {CDnfiyJued)
Year ended 24 July 2025
Responsibilities of trustees
As explained more fully in the tnjslees. responsibilities stslement. the Iruslees (who are also the
directors of the parent charitable company for the purposes of company lawl are responsible for the
preparation of the financial statements and for being satistied that they give a true and fair view, and
for such internal control as the Iruslees detemiine is necessary to enable the preparation of ffinancial
statements that are free from material misstalemenl, whether due lo fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the group's and the
parent charitable company's ability lo continue as a going concern, disclosing, as applicable. matters
related to going concem and using the going concern basis of accounting unless the trustees either
intend to liquidate the group or the parent charitable company or to cease operations. or has no
realistic alternative but to do so.
Audltorfs responsibilities for the audlt of the financial statements
We have been appointed as auditor under section 65(2}3 of the Charities Act (Northern Ireland) 2008
and report in accordance with the Act and relevant regulations made or having gffect thereunder.
Our objectives are to obtain reasonable assurance about whether the flnancial statements as a whole
are free from materlal misstalemenl, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance bul is not 2 guarantee that an
audit conducted in accordance with ISAS (UK} will always delecl a material misstatement when It
exists. Misslatemenls can arise from fraud or error and are considered material rf, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on
the basis of these financial statements.
Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities. outlined above, to detect material misstatements in respect
of irregularities, including fraud. The exlenl to which our procedures are capable of detecting
irregularities. includlng fraud is detailed below..
Identlfylng and assessing potential risks related to Irregularltles
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud
and non-compliance with laws and regulaliorbs, we considered the following..
the nature of the industry and sector, control environment and buslness performance including
the design of the Group's remuneration policies, key drivers for directors, remuneration, bonus
levels and performance targets.,
results of our enquiries of management about their own identification and assessment of th9
risks of irregularities-
any matters we identified having obtained and reviewed the Group's documentation of their
policies and procedures relating to..
identrfying, evaluating and complying with laws and regulations and whether they were aware
of any instances of non-compliance-,
detecting and responding lo the risks of fraud and whether they have knowledge of any actual,
suspected or alleged fraud-

The ARN Foundation
Company Limited by Guarantee
Independent Auditor's Report to Ihe Members of The ARN Foundation (conllnuedj
Year ended 24 July 2025
the internal controls established lo mitigate risks of fraud or non-complian￿ with laws and
regulations..
the matters discussed among the audll engagement team regarding how and where fraud
might occur in the financial statements and any potential indicators of fraud.
In common with all audits under ISAS IUKI, we are also requlred lo perform specific procedures to
respond to the risk of management override.
We also obtained an understanding of the legal and regulatory frameworks that Ihe Group operates in,
focusing on provisions of those laws and regulations that had a direct effect on the delerminalion of
material amounts and disclosures in the financial slalements. The key laws and regulations we
considered in this context included the Companies Act 2006, Taxation Legislatlon. Charities Act
(Northern Ireland) 2008 and Charities IA¢counls and Reports) Regulations {Northern Ireland) 2015.
Audit response to risks identified
Our procedures to respond to risks identtfied included the following-
reviewing the financial statement disclosures and tesling lo supporting documentation to
assess compliance wlh provisions of relevant laws and regulations described as having a
direct effect on the financial slalemenls..
enquiring of management and exlemal legal counsel concerning actual and potential litigation
and claims-
performing analytical procedures lo Identrfy any unusual or unexpected relationships that may
indicate risks of material misstatement due to fraud..
reading minutes of meetings of those charged wth govemance and reviewing
correspondence with HMRC and The Charity Commission for Northem Ireland,. and
in addressing the risk of fraud through management override of controls, lesling the
appropriateness of journal entries and other adjustments., assessing whether the judgements
made in new making accounting estimates are indicaltve of a potential bias,. and evaluating
the business rationale of any significant transactions that are uriusual or outside the normal
course of business.
We also communicated relevant identified laws and regulations and potential fraud risks lo all
engagement team members and remained alert to any indications of fraud or non-compliance with
laws and regUla￿onS throughout the audit.
As part of an audit In accordance with ISAS {UK}, we exercise professional judgment and maintain
professional scepticism throughout the audit. We also..
Idenllfy and assess the risks of material misslalemenl of the financial ststements. whether due to
fraud or error, design and perform audit prO￿dureS responsive lo those risks, and obtain audit
evidence that is sufficient and appropriate lo provide a basis for our opinion. The risk of not
delecling a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion. forgery. intentional omissions. misrepresentations. or the override
of internal control.

The ARN Foundation
Company Limited by Guarantee
Independent Auditor's Report to the Members of The ARN Foundation {conthTruedJ
Year ended 24 July 2025
Obtain an understanding of internal control relevant lo the audit in order lo design audit
procedures that are appropriate in the circumstances. but not for the purpose of expressing an
opinion on the effectiveness of the charitable company's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the trustees.
Conclude on the appropriateness of the trustee's use of the going concern basls of accounting
and, based on the audit evidence obtained, whether a material uncertainly exists related lo
events or conditions that may cast significant doubt on the group's or the parent charitable
company's ability to continue as a going concern. If we conclude that a material uncertainly
exists. we are required to draw attention in our auditor's report to the related disclosures in the
financial slalemenls or. if such disclosures are inaclequate, lo modify our opinion. Our
Conclusions are based on the audit evidence obtained up to the dale of our auditor's report.
However. future events or conditions may cause the group or the parent charitable company to
cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures. and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
Plan and perform the group audit to obtsin sufficient appropriate audit evidence regarding the
financial intormation of the entities or business activities within the group lo express an opinion
on the group financial statements. We are responsible for the direction, supervision and
performance of the group audit. We remain solely responsible for our audit opinion.
We communicate with those charged wlth governance regarding. 8mong other matters. the planned
scope and liming of the audit and significant audit firKlings. including any significant deficienctes in
internal control that we identify during our audit.
Use of our report
This report is made solely to the charitable company's Irusl8es, as a body, in accordance with Part 4
of the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. Our audit work has been
undertaken so that we might slate to the charitable company's trustees those matters we are required
to slate to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law,
we do not 8ecepl or assume responsibility lo anyone other than the charitable company and the
charitable company's Iruslees as a body. for our audit work. for this report. or for the opinions we have
fomied.
Cathal Maneely (Senior Slatrjtory Auditor)
For and on behalf of
Maneely Mc Cann Audit Limited
Chartered accounlanls & slalulory auditor
Aisling House
50 Stranmillis Embankment
Belfast
BT9 5FL
22 May 2026

The ARN Foundation
Company Limited by Guarantee
Consolidated Statement of Financial Activities (including the ¢orb$olidated income and
gxponditure account)
Year ended 24 July 2025
Period from
3Nov23to
24 Jul 24
Year to 24 Jul 25
Unrestricted
funds Total funds Totsl funds
Note
Income and endowments
Donations and legacies
Rental income
Other interest receNable and similar income
567,098
520,770
19,499
567,098
520.770
19,499
Total Income
1,107,367
1,107,367
Expendlture
Expenditure on charitable activities
Cost of sales
Administrative expenses
Interest payable and similar expenses
Total expendlture
231,363
141,379
111.841
113.073
231,363
141,379
111.841
113,073
597,656
597,656
Net income and net movement in funds
509,711
509,711
Reconciliation of funds
Total funds brought forward
The trustees of the parent charitable company
N(￿-controllIng interests
Total funds carried forward
387,380
122,331
387.380
122,331
509,711
509,711
The slatemenl of financial activities includes all gains and losses recognlsed In the year.
All income and expenditure derive from continuing aclivilies.
10

The ARN Foundation
Company Limited by Guarantee
Consolidated Statement of Financial Position
24 July 2025
2025
2024
Note
Flxed assets
Tangible assets
16 5,745,318
Current assats
Debtors
Cash al bank and in hand
18
58,930
1,816,199
1,875,129
Creditors: amounts falllng due wlthln one year
Net current Iliabilitlesllassets
Total assets less current Ilabilities
19 6.969,710
{5.094.581)
650,737
Credltors: 8mount5 falling due after more than one year
Net assets
20
650,737
Funds of the Charity
Unrestricted funds
387.380
Total charity funds
387.380
Non-controlllng Interests
263.357
650.737
These financial statements were approved by the board of trustees and authorised for Issue on 22
May 2026, and are signed on behalf of the board by..
Alan Nappin
Director
Company regislratlon number: N1704203
11

The ARN Foundation
Company Limited by Guarantee
Company Statement of Financlal Position
24 July 2025
2025
2024
Note
Fixed assets
Investments
17
446,582
Current assets
Cash al bank and in hand
220,835
84,537
Creditors: amounts falling due within one year
Net current assets
19
8,220
212.615
4,020
80,517
Total assets less current liabilities
659,197
80.517
Creditors: amounts falllng due after more than one year
Net assets
20
80.517
659,197
Funds of the charlty
Unrestricted funds
659,197
Total charlty funds
659.197
The profit for the financial year of the parent charitable company was £659,19712024.' £Nil}.
These financial slalements were approved by the board of trustees and authorised for issue on 22
May 2026, and are signed on behalf of the board by..
Alan Nappln
Director
Company registration number.. N1704203
The notes on pages 16 to 26 fom) part of these financial statements.
12

The ARN Foundation
Company Limited by Guarantee
Consolidated Statement of Changes in Equity
Year ended 24 July 2025
Equity
attrlbutable
to the
owners of
the parent
Non-
Profit and charltable controlling
loss account
company
interests
Total
At 25 July 2023
Profil for the year
At 24 July 2024
Profit for the year
Totsl comprehenslve Income for the year
387,380
387.380
387,380
122,331
509,711
509.711
387,380
122,331
Acquisition of subsidiary with minority interest
Total investments by and distributions to
owners
141,026
141,026
141,026
141,026
At 24 July 2025
387.380
387.380
263,357
650,737
The notes on pages 16 to 26 form part of these flnèneial statements.
13

The ARN Foundation
Company Limited by Guarantee
Company Statement of Changes in Equlty
Year ended 24 July 2025
Profil and loss
account
At 25 July 2023
Profit for the year
At 24 July 2024
Profil for the year
659,197
Total comprehensive Income for the year
659,197
At 24 July 2025
659,197
The notes on pages 16 to 26 form part of these financlal stst•mènts.
14

The ARN Foundation
Company Limited by Guarantee
Consolldated Statement of Cash Flows
Year ended 24 July 2025
2025
2024
Cash flows from operating activities
Profit for the financial year
509,711
Adjustments for..
Depreciation of tanglble assets
Other interest receivable and similar Income
Interest payable and similar expenses
Loss on disposal of tangible assets
Accrued expenses
93
119,4991
113,073
61,796
12,052
Changes in.-
Trade and other debtors
Trade and other creditors
528,733
13,578)
1.202.381
Cash generated from operations
Interest paid
Interest received
{113.0731
19,499
Net cash from operating activities
1,108,807
Cash flows from investing activities
Proceeds from sale of tangible assets
Acquisition of subsidiaries
Nel cash from investing actiwlies
1,028,813
(446,582)
582.231
Cash flows from financing actlvltles
Proceeds from borrowings
Other financing cash flow adjustment
Nel cash from financing activities
53,430
71.731
125,161
Net Increase In cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
1,816,199
1,816,199
The notes on pages 16 to 26 fomi part of these financial statements.
15

The ARN Foundation
Company Llmited by Guarantee
Notes to the Financial Statements
Year ended 24 July 2025
General Information
The charity is a public benefit entity and a private company limited by guarantee, registered in
Northern Ireland and a registered charity in Northern Ireland. The address of the registered office
is CIO Maneely Mc Cann. 50 Slranmillis Embankment, Belfast, BT9 5FL, Northern Ireland.
statement of compllance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the 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) (Charities
SORP IFRS 102}l and the Companies Act 2006.
Accountlng poll¢les
Basis of preparation
The financial statements have been prepared on the historical cost basls. as modlfied by the
revaluation of certain financial assets and liabilities and investment properties measured al fair
value through income or expenditure. The financial statements are prepared in sleding. which is
the functlonal currency of the entity.
The reportlng dales of ARN Properties Limited and Green Road Properties Limited are not
coterminous with that of the charitable company. For the purposes of preparing these
consolidated financial slalemenls, management informalionlinlerim financial information has
been prepared for the subsidlaries lo align thelr results and net assets with the charitable
company's reporting date. Adjustments have been made, where necessary. lo reflect significant
transactions and events occuming be￿een the subsidlaries. statutory reporting dates and the
group reporting dale. The trustees. who are also the dlreclors of the parent charitable company
for the purposes of company law, have reviewed the management information used for
consolidation and are satisfied that il provides a rel¢able basis for including the subsidiaries,
results. assets and liabilities in the group financial slalemenls
Going concern
There are no material Un￿rtaIntieS about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management lo make judgements,
estimates and assumptions that affect the amounts reported. These estimates and judgements
are continually reviewed and are based on experience and other facloTS. including expectations
of future events that are believed to be reasonable under the circumstances
Dlsclosure exemptlons
The parent charitable company satisfies the criteria of being a qualifying entity as defined in FRS
102. As such. advantage has been taken of the following reduced disdosures available under
FRS 102:
{al No cash flow statement has been presented for the company.
{bl Disclosures in ￿spect of financial instruments have not been presented.
16

The ARN Foundation
Company Limited by Guarantee
Notes to the Financlal Statements (continued)
Year ended 24 July 2025
Accounting policles (contl*Jued)
Consolidation
The financial statements consolSdate the financial statements of The ARN Foundation and all ol
its SLJbsidiary undertakings. The results of subsidiaries acquired or disposed of during the year
are included from or lo the date that control passes. Inlra-group transactions, balances, income
and expenditure are eliminated on consolidation. The accounting policies of the subsKliaries
have been aligned with those of the charitable company where necessary,
A separate Statement of Financial Activities and Income and Expenditure account for The ARN
Foundation is not presented, as The ARN Foundation has taken advantage of the exemptions
afforded by Section 408 of the Companies Act 2006. In accordance with the provisions of $398
of the Companies Act 2006 the company has elected lo prepare the groLJP accounts as the
'annual accounts. for filing purposes with Companies House.
Non.controlllng Snterests
Minority interests in the nel assets of consolidated subsidiaries are identified separately from the
Group's equity. Minority interests consist of the amount of those interests at the dale of the
original business combination and the minority's share of changes in equity since the dale of the
combination. The proportions of profit or loss and changes in equity allocated lo the owners of
the parent charitable company and to the minority interests are determin￿ on the basis of
existing ownership interests and do not reflect the possible exercise or conversion of options or
convertible inslrumenls.
Fund accounting
Unreslricled funds are available for use al the discretion of the Iruslees to further any of the
charity's purposes. Designated funds are unreslricled funds earmarked by the trustees for
particular future project or commitment. Restricted funds are subjected to restrictions on their
expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-
classes.. restricted income funds or endowment funds.
In¢omlng resources
All incoming resources are included in the statement of financial activities when entitlement has
passed lo the charity. il is probable that the economic benefits associated with the transaction
will flow to the charity and the amount can be reliably measured. The following specific policies
are applied to particular categories of income..
income from donations or grants is recognised when there is evidenco of entitlement to
the gift, receipt is probable and its amount can be measured reliably.
legacy income Is recognised when receipt is probable and entiuemenl is established.
income from donated goods is measured at the fair value of the goods unless this is
impractical lo measure reliably. in which case the value is derived from the cost lo the
donor or the eslimaled resale value. Donated facilities and services are recognised in the
accounts when received if the value can be reliably measured. No amounts are included
for the contribution of general volunteers
17

The ARN Foundation
Company Limited by Guarantee
Notes to the Financial Statements fconllAuedJ
Year ended 24 July 2025
Accounting policies (witlnu8dJ
income from contracts for the supply of services is recognised with the del¢very of th8
contracted setvice. This is classified as unreslricled funds tjnless there is a contractual
requirement for il to be spent on a particular purpose and returned if unspent, in which
ase it may be regarded as restricted.
Resources expended
Expenditure is rocognised on an accruals basis as a liability is Incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the ststement of
financial 2Ctivilies to which il relates..
expenditure on raising funds includes the costs of 811 fundraising activities. events. non-
charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs Incu￿ed by a charity in undertaking
activities that further its charitable aims for the benefrt of ils beneficiaries. including those
support costs and costs relating to the governance of the charity apportioned to
charitable activities.
other expenditure includes all expenditure that is neither related lo raising funds for the
charity nor part of its expenditure on charitable 8Ctivilies.
All costs are allocated to expenditure categories reflecting the use of the resour￿. Direct costs
attributable lo a single activity are allocated directly to that activity. Shared costs are apportioned
tse￿een the activities they contribute to on a reasonable. justifiable and consistent basis.
Tanglble assets
Tangible assets are inttially recorded at cost and subsequently stated al cost less any
accumulated depreciation and impairment losses. Any tangible assets carried al revalued
amounts are recorded al the fair value al the dale of revaluation less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation. is recognised in other
comprehenslve in¢ome and accumulated in equity, except to the extent it reverses a revaluation
decrease of the same asset previously recognised in profit or loss. A decrease in the carrying
amount of an asset as a result of revaluation, is recognised in other comprehensive income to
the extent of any previously recognised revaluation increase accumulated in equity in respect of
that asset. Where a revaluation decrease exceeds the accumulated revalualK)n gains
accumulated In eqully in respect of that asset, the excess shall be re¢ognised in profil or loss.
Depreclatlon
Depreciation is calculated so as to write off the cost or valuatlon of an asset, less Its residual
value. over the useful economle life of that asset as follows..
Plant and machinery
Fixtures and fillingg
25Vo reduclng balance
25% reducing balance
18

The ARN Foundation
Company Limited by Guarantee
Notes to the Financial Statements (¢onllnuedJ
Year ended 24 July 2025
Accounting pollcles f¢ontinuedJ
Investment Property
Investment property is initlally recorded.at cost, which includes purchase price and any directly
attributable expenditure.
Investment propety is revalued to its fair value at each reporting date and any changes in fair
value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded al cost and subsequently stated al cost less any
accumulated impairment losses.
Listed investments are measured al fair value with changes in fair value being recognised in
profit or loss.
Investments in assoclatgs
Investments in associates are accounted for using the equity method of accounting. whereby the
investment is initially recognised at the transaction price and subsequently adjusted to reflect the
group's share of the profil or loss. other comprehenswe income and equity of the associate.
Investments In lolnt ventures
Irbveslments in joint ventures are accounted for using the equity method of accounting, whereby
the investment is initially recognised at the transaction price and subsequenlty adjusted to reflect
the group's share of the profrt or loss. other comprehensive income and equity of the joint
venture.
Impalrment of fixed assets
A review for indicators of impairment is carried out at each reporting dale, with the recoverable
amount being eslimaled where such indicators exist. Where the carrying value exceeds the
recoverable amount. the asset is impaired accordingly. Prior impairments are also rewewed for
possible reversal at each reporting date.
For the purposes of impalrment lesling, when il is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverable amount of the cash-
generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable
group of assets that includes the asset and generates cash inflows that largely independent of
the cash inflows from other assets or groups of assets.
For impairment testing of goodwill. the good￿11 acquired in a business combination is. from the
acquisition date, allocated to each of the cash-generaling units that are expected to benefit from
the synergies of the combination. irrespective of whether other assets or liabilities of the
company are assigned to those units.
19

The ARN Foundation
Company Limited by Guarantee
Notes to the Financial Statements (¢onUnued)
Year ended 24 July 2025
Accounting policies (¢ontlnued)
Fln8nclal Instruments
A financial asset or a financial liability is recognised onty when the company becomes 8 party to
the conlraclual provisions of the inslrumenl.
Basic financlal instruments are initially recognised at the transath'on price. unless the
arrangement constitutes a financing trallsaction, where il is recognised at the present value of
the future payments discounted at a market rale of interest for a similar debt instrument.
Debt instruments are subsequently measured al 8mortised cost.
Where investments in non-convertible preference shares and non-pullable ordinary shares or
preference shares are publidy traded or their fair value can otherwise be measured reliably. the
investment is subsequently measured at fair value with changes in fair value recI￿nIsed in profil
or loss. All other such investments are subsequelltly measured at cost less impairment.
Other financial Instruments, including derivatives, are Inltially recognlsed at fair value, unless
payment for an asset is deferred beyond normal business terms or finaneed at a rate of interest
that is not a market rate. In which case the asset is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt inslrumenl.
Other financial instruments are subsequenuy measured at fair value, with any changes
recognised in profit or loss, with the exception of hedging instruments in a designated hedging
relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective eviden
of impairrnent al the end of each reporting dale. If there is objective evidence of impairment, an
impairment loss is recognised in profil or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are
individually significant, these are assessed individually for impairment. Other financial assets are
either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognlsed in profit or loss immediately, to the extent that the
reversal does not result in a carrylng amount of the financial asset that exceeds what the carying
amount would have been had the Impalrment not previously been recognised.
Company1SmSted by guarantee
The charity is a private company limited by guarantee without share capital. The liability of each
member in the event of winding-up is limited lo £1.
20

The ARN Foundatlon
Company Limited by Guarantee
Notes to the Financial Statements Icon¢inuedJ
Year ended 24 July 2025
Donatlons and legacles
Unreslricled Total Funds Unrestricted Total Funds
Funds
2025
Funds
2024
Donations
Donations
Gift in kind of issued share capital of
the subsidiaries
Gift in kind of transfer of funds from the
cessation of unincorporated ARN
Foundation
40,000
40,000
446,582
446,582
80,516
567.098
80,516
567,098
Expendlture on charltable actlvltles by fund type
Unreslricled Total Funds Unreslricled Total Funds
Funds
2025
Funds
2024
Awarding grants
Support costs
223.500
7.863
223,500
7,863
231,363
231.363
Expendlture on ¢harltable actlvltles by activity type
Activities
undertaken
directly Support costs
Total funds
2025
Total fund
2024
Awarding grants
Governance costs
223,500
123
7,740
223.623
7.740
223.500
7,863
231,363
Analysls of support costs
Analysis of
support costs
activity Total 2025 Total 2024
General office
123
123
21

The ARN Foundation
Company Limited by Guarantee
Notes to the Financial Statements (contsnuedl
Year ended 24 July 2025
Turnover
Turnover arises from..
2025
2024
Income from donations
Rental Income
Other interest re￿Ivable and similar income
567,098
520,770
19,499
1.107.367
The whole of the turnover is attributable to the principal activity of the company wholly
underiaken in the United Kingdom.
10. Auditor's remuneration
2025
2024
Fees payable for the audit of the financial slalements
4.500
11. Operating proflt
Operating profil or loss is staled after charging=
2025
2024
Depreciation of tangible assets
Loss on disposal of tangible assets
93
61.796
12. Othor intgrest recelvable and similar Income
2025
2024
Interest on cash and cash equivalents
19,499
13. Interest payable and slmllar expenses
2025
2024
Interest on banks loans and overdrafts
Other interest payable and similar charges
123
112,950
113.073
14. Staff costs
The average head count of employees during the period was Nil. No employee recelved
employee benefits of more than £60,000 during the year.
15. Trustee remuneration and expenses
No remuneratson or other beneffts from employment with the charity or a related enlty were
received by the trustees. No trustee expenses have been incurred in the period to 24 July 2025.
22

The ARN Foundation
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 24 July 2025
16. Tangible assets
Group
Investment
property
Plant and
maehinery
Total
Cost
At 25 July 2024
Additions
Disposals
At 24 July 2025
Dopreclation
At 25 July 2024
Charge for the year
At 24 July 2025
Carrylng amount
At 24 July 2025
At 24 July 2024
6.835.723
{1,090,609)
5,745.114
297
6.836,020
{1.090,6091
5,745,411
297
93
93
93
93
5.745.114
204
5,745,318
The company has no tangible assets.
Investment property comprises of residential property. The fair value of the investment property
has been arrived at on the basis of a valuation-carried out by the Director. The valuation was
made on an open market value basis by reference to market evidence of transaction prices for
similar properties.
17. Investments
The group has no investments.
Company
Shares in
group
undertakings
Cost
At 25 July 2024
Addltions
446.582
At 24 July 2025
446,582
Impairment
At 25 July 2024 and 24 Juty 2025
Carrying amount
At 24 July 2025
At 24 July 2024
446.582
23

The ARN Foundation
Company Limited by Guarantee
Notes to the Financial Statements (¢oAllnts
Year ended 24 July 2025
17. Investments fcontlnue
Subsidlaries, associates and other investments
Detsils of the investments in which the parent charitable company has an interest of 200/0 or
more are as follows..
Percentage of
Class of share shares held
Subsldlary undertaklngs
Green Road Properties Limited
ARN Properties Limited
Ordinary
Ordinary
76
76
18. Debtors
Group
2025
Company
2025
2024
2024
Trade debtors
Prepayments and accrued income
Other debtors
43,940
10,743
4.247
58.930
19. Credltors: amounts falllng due within one year
Group
2025
Company
2025
2024
2024
Trade creditors
Accruals and deferred income
Social security and other taxes
Director loan accounts
17,595
45,379
8,005
6,898,731
7,740
4,020
480
6,969,710
8,220
4,020
24

The ARN Foundation
Company Limited by Guarantee
Notes to the Financial Statements {conlinuedJ
Year ended 24 July 2025
20. Creditors: amounts falling due after more than one year
Group
2025
Company
2025
2024
2024
Amounts owed to undertakings in
which the charity has a participating
interest
80.517
21. Analysis of ¢harltable funds
Unrestrlcted funds
At
25 July 2024
At
Income Expenditure 24 July 2025
General funds
1,107.367
1597.6561
509,711
Al
Income Expenditure 24 July 2024
Al 3 Nov 2023
General funds
22. Analysis of net assets batwean funds
Unrestricted Total Funds
Funds
2025
Tangible fixed assets
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
5.745.318
5.745.318
1.875,129
1.875,129
(6.969.710) (6.969.710)
650,737
650,737
Unieslrieled Total Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
25

The ARN Foundation
Company Limited by Guarantee
Notes to the Financial Statements (¢ontinuedJ
Year ended 24 July 2025
23. Analysis of changès in net debt
At
Al
25 Jul 2024 Cash lows 24 Jul 2025
Cash at bank and in hand
Debt due within one year
Debt due after one year
1,816,199
1,816,199
{6,898,731} 16,898,731)
15,082,532) 15,082,532)
24. DSre¢tors' advances, credits and guarantees
During the year the dlrectors entered into the following advances and credits with the company:
2025
Advancesl
Icredilsl lo
Balance
the directors outstanding
Balance
brought
forward
Mr A Nappin
16,898,731) 16,898,731)
2024
Advancesl
leredits} to
Balance
the directors oulslanding
Balance
brought
forward
Mr A Nappin
The director's current account is interest bearing if demanded. The interest rate is below bank
base rate. Any interest paid is approved by the non-eonflieled trustees.
25. Related parties
Donations have been received from companies in which a trustee services as a director of
£40.000 in the current year. The donations have no terms and conditions applied and have
therefore been included in unrestricted funds as shown in Note 5.
There is no ultimate controlling party.
The charitable company has taken advantage of the exemption, provisioned of FRS 102 and has
not disclosed in its consolidated accounts any transactions or balances between group enlff(ies
which have been eliminated on consolidation.
Details of the subsidiarie$ are included wilhin the consolidation are disclosed al Note 17.
26