2024-12-31-accounts - Scott (Eredine) Charitable Trust

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Charlty Registratlon No. 1002267 scorr (EREDINE) CHARITABLE TRUST TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024

SCOTT (EREDINE) CHARITABLE TRUST CONTENTS Page Trust88s' report Trustees. responsibilities in relation to the accounts Indep8ndant Audltor8' report statement of financial 8Ctivibes Balanc8 she8t Cash flow statement 10 Notes to the 8Kounts

scorr (EREDINE) CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report and accounts for the year ended 31 December 2024. The accounts comply with the Charities Act 2011, the chanly's Trust Deed and Accounting and Reporting by Charities.. Statement of Recommended Pra¢ti¢e applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102) leffective 1 January 20191. Our purposes and actlvltles The tru$t exists for such charitable objects as directed by the settlor or as the trustees sh811 from time lo lime determine. The Charity's principal activity continues to be to generate investment income in ordei lo provide grants to various charitses in acc4rdance with the trustees, wishes. In shaping the objectives for the year and planning its activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'Public Benefit.. Running A Chaiily IPB2)'. Achlevements and Perfomiance Ilneludlng Flnan¢lal Revlewl Income for the year was £618,122 (2023.. £573,388). In 2024, the Tru$l made grants lolalling £588,41012023: £572.866). The overall surplus for the year was £2,840,37612023-. £504,362) after accounting for unrealised gains on investments of £2.816,184 12023.. £509,595). Unrealised gains are not cash items and solely refftecl the movement of the investrments with regard to the value of the investments at the year end. Total funds carried forward to181 £14,783,172 {2023.' £11,942,796) which are all unrestrict8d funds. Under paragraph 5.2 of the trust deed the Iruslees have power to retain shares in John sre and Sons Limited and are not under any duly to diversify lo the extent that the trust fund comprisos those shares. The shares are in the names of trustees K J Bruce-smith and A J Scott who hold them as cu81odi8n trusl88s. However. the Iruslees have also noted the slalulory duly of care required by the Trustee Act 2000, in relation to their holding suitable investments and the need for diver6ificalion of investments so far as is appropriate to the circumstances of the trust. The Ifustees, overall investment objective is to achieve a level of investment income growth which at least matches the rale of inflation, while protecting the value of the chanty's Capital in real terms. Where Investments have been donated to the charity, the IN$lees also consider whether a di$posal of such investments could discourage similar donatsons in the future. The trustees recognis& that particular investment risks arise from lack of diverslil¢ation where substantial holdings in unquoted companies are donated to tha chanly and retained. The trustees seek lo miligale the risks through the regular monilorrng of such investments on récelpt of published financi81 informats'on. The Chanty does not operate an "ethical investment policf. Reference and admlnlstratlve detalls Charity number.. 1002267 Principal office.. clo Sinclair Gibson, 3 Lincoln's Inn Fields, London, WC24 3AA Our advlsers Auditors Bankers Solicitor5 TC Group C Hoare & Co SinClr Gibson The Courtyard, Shoreham Road. Upper Beeding. West Sussex, BN44 3TN 37 Fleet Street, London, EC4Y 40Q 3 Lincoln's Inn Fields, London, WC2A 3AA

SCOTT {EREDINE) CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure. Governance and Management Trustees The trustees serving during the year and since the year end were as follows.. AJScott K J Bru¢e-Smilh NHCWills J L Gibson Governlng Document The trust was e$tabli$hed by a ¢haritable trust deed on 19 July 1990. It is registered as a charity with the Charity Commission. Appolntsment of trustees Trustees are appointed by existing trustees when it is thought necessary to do so. Training is provided by existina trustees. Rlsk management The major risks lo which the trust may be exposed, as idenbfied by the trustees, have been reviewed to confirm thal sysl8ms, where 8ppropriale, exist lo manage those risk$. The trustees re¢ogni$e that the majority of Ihe trust's investments are shares in a privale company that were sellled upon the trustees with the power contained in the Deed to retain and not lo diversify those shares. Grant maklng pollcy Scott (Eredinel Charitable Trust look to Support charities operating in the following areas.. Physical or mental handicaps through accidents of birth, injury, wounds, illness old age elc. b. Adventurous challenge for the young Wildlife conservancy Reserves pollcy The charity look to hold reserves in order lo provide a sufficient capital base lo generate Income to cover administrative expenditure and grants payable as documented in the trust deed. The charity held reserves of £14,783,172 91 the balance sheet dale12023'. £11,942,796) which is considered in line with the set policy. Future plans S¢oll {Eredinel Charitsble Trust will continue to seek opportunities to a8si6t beneficiaries with grants to support the ¢hanly's aims and objectives. Statement as to dlsclosure to our audltors In so far as the trustees ar8 aware al the time of approving our trustees, annual report., there 15 no relevant information, being information needed by the auditor in connection with preparing their report, of whith the auditor 15 unaware., and the Iru$lees, having made enquiries of fellow trustees and the auditor that they ought lo have individually taken, have each taken steps that they are obliged to take as a trustee in order lo make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. By order of the board of Irusle86 K J Bruce-smllh (Trusteel Dated..

scorr (EREDINE) CHARITABLE TRUST TRUSTEES. RESPONSIBILITIES IN RELATION TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 The ¢harily Iru$lees are responsible for preparing the Trustees, Report and the accounts in accordance with applicable law and United Kingdom Accounting Slandards (United Kingdom Generally A¢cepled Accounting Practice). Charity law requires the trustees lo prepare accounts for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing accounts giving a true and fair view, the trustees should follow best practice and= select suitable accounting policies and then apply them consislendy., observe the method5 and principles in the ChaTiles SORP- make judgements and estimates that are reasonable and prudent., state whether applicable aecounling standards and statements of recommended pra¢li¢e hava been followed, subject to any materi81 departures disclosed and explained in the accoun15-, and prepare the accounts on the going concern basis unless il is inappropriate to presume that the Charity will contsnue in operation. The tru$le8s 8r8 responsible for keeping accounting records which disclos8 with reasonable accuracy the financial position of the charity and which enable them to ensure that th8 accounts comply with th8 applicabl6 law. They are also responsible lor safeguarding the assets of the charity and henco for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SCOTT (EREDINE) CHARITABLE TRUST INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES, OF SCOTT (EREDINE) CHARITABLE TRUST Oplnlon We have audited the financial statements of Scoll (Eredine) Charitable Trust (the '¢haritable twst,) for the year ended 31 December 2024. The financial reporting framework that has been applied in their preparation 15 applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting St8nd8rd applicable in the UK and Republic of Ire18nd (United Kingdom Generally Accepted Accounting PracticE). In our opinion the financial statements.. give a true and fair view of the slate of the charity's affairs as al 31 December 2024 and of its incoming resources and appli¢ats'on of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Acc8Pted Accounting Practice., and have been prepared in accordance with the requirements of the Charities A¢1 2011. Basls for oplnlon We ¢ondu¢ted our audit in accordance with International Standards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Audilols responsibilities for the 8udit of the financial statements section of our report. We are independent of the ¢haritsble company in accordance with the elhi¢al requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going concern In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial slalemenls is appropriate. Based on the work wo have performed, we have not identifi'ed any material uncertainties relaling lo events or conditions that, individually or colle¢lively, may cast significant doubt on the charity's ability to continue as going concern for a period of al least twelve months from when the financial slalemenls are 8Uthorised for issue. Our responsibilities and the responsibilities of the trustee's with respect lo going concern are described in the relevant sections of this report.

scorr (EREDINE) CHARITABLE TRUST INDEPENDENT AUDITORS, REPORT (CONTINUED) TO THE TRUSTEES, OF SCOTT (EREDINE) CHARITABLE TRUST other information The INstees are responsible for the other information. The other information comprises Ihe informats'on included in the tru5tees' annual report, olhei than the fin8ncial statements and our auditor's report thereon. Our opinion on the financial slalerronls does not Cover the other infomation and. excepl lo the extent otherwise explicitly stated in our report, W8 do not express any form of assurance conclusion Ihereon. In connection with our audit of th8 financial slalements, our responsibility 1$ to read the other information and, in doing so, consider whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears lo be materially misstated. If we identify such malerial inconsistencies or apparent material misstatements, we are fequired to determine whether there is a material misstatement in the financial slalemenls or a material misstatement of the other information. If, based on the work we have performed, we ¢on¢lude that there is a material misstatement of this other information. we are required lo report that fact. We have nothing lo report in this regard. Matlers on which we are required to report by exceptlon We have nothing to report in r8specl of the following mallers in relation lo which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion.. adequate accounting records have not been kept by us- or the fi'nancial slalemenls are not in agreement wlth tha accounting rècords 8nd r8turns'. or we have not received all the information and explanations we require for our audit. Responslbllltles of trustees As explained more fully in the trustees, responsibili118S Statement $81 out on page 3, the trust88s are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Irusl&es determine is necessary to enable the preparation of financial Statements that are free frorn material misstalemenl, whether due to fraud or error. In preparing the financial stat8m•nls, the trustees are Tesponsible for assessing the Gh8ri18bl¢ ¢ompany's ability to continue as a going concern, disclosing, as applicable, matters related to going ¢on¢ern and using the going concern basis of accounting unless the Ifuslees either intend to liquidate the charitable trust or to cease OP8ralions, or have no realistic alternative but to do so. Auditor'8 re8ponglbllltles for the audlt of the flnanclal stalements Our objectives are lo obtain reasonable assurance about whether the financial stslements as a whole are free from material misstatement, 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, but is not a guarantee that an audil conducted in accordance with ISAS (UK) will always dete¢t a malenal misslatement when it exists. Misstatements can arise from fraud OT error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-¢omplian¢e with law5 and regulations. The extenl to which our piocedures are Capable of delecling irregulanlies. including fraud, 15 delailed below.

sco (EREDINE) CHARITABLE TRUST INDEPENDENT AUDITORS. REPORT (CONTINUED) TO THE TRUSTEES OF SCOTT (EREDINE) CHARITABLE TRUST Extent to whlch th• audit was consid8rod capable of detecting Irregularltl•s, In¢ludlni fraud The objectives of our audit, in respect lo fraud, are- to identify and asse$$ the risks of material misstatement of the finan¢ial statements due to fraud,. lo oblain $uffi¢ient appropriate audit evidence regarding the assessed risks of material misslalemenl due lo fraud, through designing and implementing appropriate responses-, and to respond appropriately lo fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with govemance of the entity and its management. Our approach was as follows= We identified areas of laws and regulations that could reasonably be expected lo have a material effect on the financial slalemenls from our general commercial and Sector experience. and through discussion with the directors and other management (as required by auditing slandardsl. and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations., We identified the following areas as those most likely to have such an effect: General Data Protection Regulation IGDPRI,. fraud and bribery and corruption. Auditing standards limit the required audit procedures to identify non-¢ompliance with these laws and regulations to enquiry of the Iru$lees and other management and inspection of regulatory and legal ¢orresponden¢e, if any. The identified aclual or suspected non-compliance was not sufficiently significant lo our audit lo result in our response being identified a5 a key audit maller. We considered the legal and regulatory frameworks directly applicable lo the financial statements reporting framework IFRS 102 and the Charities Act 20111 and the relevant lax compliance regulations in the UK., We considered the nature of the industry, the control environment and busing8s performance, including the key drivers for management's remuneration., We ¢ommuni¢ated identified laws and regulations throughout our team and remained alert to any indications of non-complianGe throughout the audit., We considered the procedures and controls that the charity has established lo address risks identifi'ed, or that otherwise prevent, deter and detect fraud,. and how senior management monitors those procedures and controls. Based on thi6 understanding we designed our audit procedures lo identify non-compliance with such laws and rogulations. Where the risk was GonsideTed lo be higher, we performed audit procedures lo addres5 each Idents'fied fraud risk. These procedures included-. testing manual journals,. reviewing the financial statement disclosures and testing to supporting documentstion,. performing analytical procedures., and enquiring of management, and were designed lo provide reasonable assurance that the financial sl8lemenls were free from fraud or error. Owing to the inherent limitstions of On audit, there is an unavoidable risk that we may not have deteded some material misslalements in the financial slalements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations lirregulariliesl is from the events and transactions reflected in the financial slalemenls, the less Ilkely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as ffaud involves intentional concealment, forgery, collusion, omission or misrepiesenlation. We are not responsible for preventing non-compliance and cannot be expected to delecl non<omplian¢e with all laws and regulations. A further description of our respon$ibilits'es is available on the Financial Reporling Council's website al.. httpS../.frc.0rg.ukj0ul-workIAudiuAudII-and-asSurance1slandardS-and-gUIdanCeIStandardS-and-guldance -for-auditorslAuditors-responsibililies-for-audiVDescripts'on-of-audilors-responsibilities-for-audit.aspx. This description forms part of our auditor's report.

scorr (EREDINE) CHARITABLE TRUST INDEPENDENT AUDITORS. REPORT (CONTINUED) TO THE TRUSTEES, OF SCOTT (EREDINE) CHARITABLE TRUST Use of our report This report is made solely lo the charity's members. as a body, in accordance with the Charities Act 2011. Our audit work has been undertaken so that we might slate to the charity's members those mallers we are required lo state lo him in an auditor's report and for no other purpose. To the fullest extent permilled by law. we do not accept or assum8 responsibility lo anyone other than the ¢harity and the charity's members, as a body, for our audit work, for this report, or for the opinions we have fomied. Mr Mark Cummlns FCCA (Senlor Statutory Audltor) For and on behalf of TC Group Statutory Audltor Offl¢e: 8teynlng, West Sussex Dated:

SCOTT (EREDINE) CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 N¢)tes Income from: Investment income other income 615,622 2,500 572.581 807 Tolal Income 618,122 573,388 Expendlture on: Charitable activities 593,930 578.621 Total expendltufe 593,930 578,821 Net movement In lunds belore galns I (losses) on Investments 24,192 15,2331 Nel gainslllossesl on investrnents 2,816,184 509,595 Net movement In funds 2,840,376 504,362 Reconclllatlon of funds Total funds brought loard 11,942.796 11,438,434 Total funds carrled forward 14,783,172 11,942,796 All income, expenditure and investment movements are unrestricted for both years.

SCOTh (EREDINE) CHARITABLE TRUST BALANCE SHEET AS A T31 DECEMBER 2024 2024 2023 Notes Flxed assets Investments 14.601,974 11,785,790 Current assets Debtors Cash at bank and in hand 13,118 259,999 187,165 187,165 273,117 Credltors: amounts falllng due wlthln one year 10 (5,967 (116,1111 Net current a$$ets 1B1,198 157,006 Net assets 14,783,172 11,942,796 The funds of the charlty Unrestricted income fund6 14,783,172 11,942.796 14,783,172 11,942,796 The accounts were approved by the Twslees on ......................... K J Bruce-smith Trustee

SCOTT (EREDINE) CHARITABLE TRUST CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Note Cash flows from operatlng actlvltles Cash generated from operations 11 {688,4561 1466,8361 Cash flows Irom Investlng actlvltles Investment income 615,622 572,581 Net Increase I Idecrease) In cash and cash equlvalents 172,8341 105,745 C8sh and cash equivalents at the beginning of the year 259,999 154,254 Cash and cash equlvalents at the end of the year 187,165 259,999 io

scorr {EREDINE) CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Legal Status The Trust is an unincorporated charity registered in England and Wales Number 1002267. Its principal office is shown in the trustee report. Accountlng pollcles Basls of preparatlon The ac¢ounts have been prepared in acwrdance with Accounting and Reports'ng by Charities.. Statement of Recommended Pra¢lice applicable lo charilies preparing their accounts in accordance with Ihe financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019) - (Charities SORP (FRS10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Scoll (Eredine) Charitable Trust meets the definition of a public benefit entity under FRS102. Assets and liabilit18s are initially recconised at historical cost or transaction vallte unless otherwise ststed in the relevant accounting policy nolelsl. There are no material uncertainties about Scott lEdIne) Charitable Trusvs ability to conts'nue as a going concem. The financial statements are prepared In st&rllng, whlch Is th8 lunclional currency of the charity. Monetary amounts in these financlal stal•m?nts are rounded lo tha nearest pound. 2.2 Income Invastmenl income is accounted for when receivable. 2.3 Expendlture Expenditure is accounted for on an accruals basis with the irrecoverable element of VAT included with the item of expense to which it relates. Charitable expenditure ¢ompri$es those costs incurred by the charity in the delivery of its activities and sèrvi¢es for its beneficiarie$. Granls payable are chafged in the year when th• Gommilmenl is made by the Irusl88s lo make the donation. Govemance costs include thos8 costs associated with meeting the constitutional and statutory requirements of the chafily and include audit fees and costs linked lo the strategic management of the charity. These are included within support costs. All $ts are allc¢ated be60n expenditure categories of the SOFA on 8 basis designed lo reflect the use of the resource. Costs relating 10 8 particular activity are allocated directly, others are apportioned based on estimated usage as a proportion of directly attributable expenditure. Fund accountlng Funds held by the Trust are Unrestricted general fund5. These are funds which can be used in accordance with the charitable objects at the discretion of the Iruslees. Investment5 Investments are included al fair value at the balance sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Activities. 2.8 Debtors Trade and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid net of any trade discounts due. li

sco (EREDINE) CHARITABLE TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 2.7 Cash at bank and In hand Cash at bank and in hand includes cash and short torm highly liquid investments. Th8 Trustees seek to use short term deposits where possible to maximise the retum on monies held at the bank and to manage cash flow. 2.8 Credltors and provlslons Creditors and provisions are r8cognised where the charity has a present obligation resulting from a past event that will probably result in the Iransfer of funds to a third party and the amount due lo settle the obligats'on can be measured or estimated reliably. Crlllcal accountlng estlmates and Judgements In the application of the charity's accounting policies, the trustees are required to make judgements, eslimales and assumptions about the Carrying amount of assets and liabilities that are not readity apparent from olh8r sources. The estimates and associated assumptions are based on historical experience and other factors that are ¢onsidered to be relev8nt. Actual results may differ from Ihese e6timat8S. The eslimales and underlying assumptions are reviewed on an ongoing basis. Revision8 to accounting estimate5 are recognised in the period in which the estimate is revised. The trustees do not Consider that there are any critical estimate$ or areas of judgement Ihat need lo be brouohl lo the attention of the readers of the financial stalemenls. Taxatlon The charitable company is registered as a charity and all of its income falls Wlthin the exemptions under Part 11 of the Income Tax Act 2007. Investment Income 2024 2023 Dividends from unlSsted investm&nls Bank interest 811,358 4,264 569,625 2,956 615,622 572,581 12

scorr (EREDINE) CHARITABLE TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Total expendlture Admin costs Other Grant Total 2024 Total 2023 Costs lundlng Charflable actlvltles Grants payable Support costs 588,410 588,410 5.520 572,866 5,755 360 5,160 5,160 588,410 593,930 578,621 Grants were paid to 89 institutions during the ye8r12023.' 87 institutions), Analysls of support Costs (Includlng Governance costs) 2024 2023 Administrative expense$ Governan¢e Costs.. Audit and a¢¢ounlancy 360 360 5,160 5,395 5,520 5,755 Governance costs Is made up ol audil lees for both y&ar5. Trustees None of the trustees {or any persons connected with them) w&re reimbursed ?xpense$ or rec&ived any remuneration during the year. Employees There were no employees during the year (2023: none). 13

scorr (EREDINE) CHARITABLE TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Flxed asset Investments Fair value al 1 January 2024 Unrealised gain$ 11,785,790 2,816,184 Falr value at 31 December 2024 14,601,974 Historical cost.. At 31 December 2024 3,938,275 At 31 Oecember 2023 3.938,275 The Investments arè made up of 536,416 ordlnary and 327.945 8% preference shares held in John Swlre & Sons Limited. These are held in the names of K J Bruce-smilh and A J Scott as custodian trustees. The total ordinary shares are valued at £14,274,029 {2023.' £11,457,845) and the total B% preference shares are valued at £327,94512023'. £327,945). The gain on investments of £2,816,184 {2023'. 509,595) as shown in the Statement of Financial Adivities comprises unrealised losses on inveslmenl8 held al the year end. Debtors: arnounts lalllng due wlthln one year 2024 2023 Accrued in¢ome 13,118 13,118 10 Credltors: amount$ falllng due wlthln one year 2024 2023 Accruals Grants payab18 5,967 5,727 110,384 5,967 116,111 14

SCOTh IEREDINE) CHARITABLE TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Reconclllatlon ot cash generated from operallons 2024 2023 Surpluslldefi¢itl for the year 24,192 {5,233) Adjustments for.. Investment income (615,622) (572,581) Movements in working capital.. (Increaseydecrease in debtors Increaselldecrease) in creditors 13,118 1110,144) 110,978 1688,4561 1466,836) 12 Related partles No one party has overall control of the Tiust. Dunng the year grants of £10,000 were made to REACT Disaster Response Ltd. N H C Wills 1$ a trustee of REACT Disaster Response Ltd. 15

Charlty Registratlon No. 1002267 scorr (EREDINE) CHARITABLE TRUST TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024

11 GROUP BUSINESS ADVISORS & ACCOUNTANTS Audit Findings Report Scott (Eredine) Charitable Trust For the year ended 31 December 2024 Presented to Trustees

CONTENTS l. Inlroduction and Covera 2. Inde endence 3. The Audit Process 4. Qualitative A5 ects of Accountin Practices and Financlal Re ortin 5. Audlt and Accountin Issues Identlfled Durfn the Audit 6. Audit Misstatemenls endix i Letter of Re resenfatlon Your contacts In connectlon wlth thls report ore: Mark Cummins- Charilies & Education Partner m<Jrkc nir Adam Webb - Senior Audit Assistanl adoinweli @,TC~ rou

I. INTRODUCTION AND COVERAGE PURPOSE OF THIS REPORT The purpose of this report is to set out certain matters that came to our attention dvfing the course of the audit of Scoll IEredinel Charitable Trust for the year ended 31 December 2024. In order lo comply with the provisions of Inlernational Standards on Audiling we are required to report to you our (Judit findings and in particular: The nature and scope of the audit work we have undertaken: Views about the qualitative aspects ol your accounting practices and financial reporting.. Unadjusled and adjusted misstatements,. Matters specifically required by Auditing Slandords to be communicaled to those charged wilh governonce lsuch as Iroud and error),. Expected modlficotions to our avditor's report; Moterial weoknesses in the accounling and internal control systems: and Any other relevant and material matters relating to the audit. LIMITATIONS Our avdil procedures, which have been designed lo enable us lo express an oplnion on the financiol stalements. have included an examination of the Iransactions and Ihe conlrols thereon ol the charity. The work that we have done was not primarily directed towards identifying weaknesses in the charity's accounling systems other Ihan those that would affect our audit opinion, nor lo the detection of fravd. We have included in this report only those matters that have come to our attention os a result of our normal audit procedures and, consequently, our comments should not be regarded a5 a comprehensive record of all weaknesse5 Ihat may exisl or improvements thal could be made. To a certain extent the conlenl of this paper comprlses general Information that has been provided by. or is based on discussions with, management and slaff. Except to the extenl necessary for the purposes of the audil. this information has nol been independenlly verified. RESPONSIBILITIES The Trustee5 are responsible for preparing the Trustees, Report and Financial Stalements. TC Group, os auditor of Scott (Eredinel Charitable Trusl. is responsible for forming an opinion on the Financial StotementS. This report 15 to be regorded as confidential lo the Trustees and is intended for use by Ihem and slalf of the charity only. No responsibility is accepted to any other person in respecl ol Ihe whole or part its conlents. Before this report. or any part of it, is disclosed to o Ihird porty our consent must be obtained. Audit Findings Report | Scotl IEredinel Charitable Trust

INDEPENDENCE Auditing Slandards require us lo communicate at least once a year regarding all relationships between TC Group and the charity that may reasonably be Ihought to have a bearing on our independence. We have reviewed our independence and confirm Ihal TC Group is independent within the meaning of regulalory and professional Tequiremenls. In particular Ihe objeclivily of our partner, Mark Cummins. and his audil leam is nol impoired. Our review included consideration of whether: The firm is dependent on the charity as a client due to Ihe Significance of the audit fee to the firm,, The firm is owed significant overdue lees., There is any aclual or threatened litigation belween the firm and the charity.. Any b8n8fils hov8 been received by the audit team which are nol modest,, The firm has any mutual business interest with Ihe charity: Any members of Ihe audit leam have any personal or family,. connections wilh the charily or Iruslees., or Independence is impaired through the provision of setvices other than the stalutory audlt, As parl of our evalualion of the firm's independence and objeclivily in connection wilh the audit we have not identified any factors which could polentially allecl our independence or objeclivily, for which we would be reqvired lo apply appropriale safegvords. These are detailed below, and we are solislied Ihat the safeguards implemented are sufficient to miligote ony threat to our independence and objectivity. Threqt lo obJ•ctlvlty and Ind•p•ndonc• Safegvard to be Implemonl•d Self review and management Ihreal Irom processing journal adju51ment5. Journal adjuslments land unadjusted journals) ale approved by Ihe trustees in writing. Self review Ihreal from our osslstance wilh the preparation ol the financial statements. The financial stolements are reviewed by a team separate lo the audit team. and they are reviewed and approved by the Truslee5. The Audit Responsible Individual has acted on the audit for more than 10 years. The audit file ha5 been Subject lo review by o 2nd Audil Responsible Individual who is independent ol Ihe audit. Our audit files are also subject lo cyclical cold file reviews from an independenl Ihird party. Audit Findings Report | Scott IEredinel Charitable Trust
THE AUDIT PROCESS SCOPE As auditors we are responsible for forming and expressing an opinion on whether the financial statements ol the charity show a Irue and fair view of the slate ol the charity's affairs at 31 December 2024. Our audit work is designed to provide the iequired assurance that the financial statements are free from material error. However, our audit ol the financial statements is not a comprehensive report covering all systems and conlrols. AUDIT APPROACH Our general audit approach was based on a Ihorovgh understanding ol the charity's business and determined by our assessmenl ol Ihe audit risk. In particular this included: An evoluation of the charity's inlernal control environment.. and Substantive testing on signilicont transactions and material account bolances. We would like to take this opporlunily lo thank you for your support and ossislance during the audit. The audit woth on the financial stalements is now subslantially complete and we anlicipate issuing an unqualified audit opinion lor Ihe year ended 31 DecembeT 2024 lor Ihe charity. following.. Receipt of approved financial slalemenls signed by the Boord,. Receipt of a signed letter of represenlalion., and Receipl ol the signed adjusted and unadjusted misstatements schedules to confirm the Trustees are in agreement wllh the accounting treatment of Ihese. We consider that the audit approach adopted will provide the trustees with the required confidence that a Ihorough and robust audil ha5 been carried oul. Matters arising from our audit that we wish to bring to your attention are set out in Section 5, MATERIALITY We apply the concept of materiality in plonning and peTlorming the audit. and in evalualing the effect of idenlilied misstalemenls on the audit and the impact ol uncorrected misslatement5, We have assessed materiality for thi5 QIgnment by considering the net asset5 of the charity. Where individual errors, or accumuloled errors found during the course of the audit. are in excess ol materiality, these are discussed wilh you and adjustments are mode lo the financial statements. Audil Finding5 Report | Scott IEredinel Charitable Trusl
THE AUDIT PROCESS AUDIT MISSTATEMENTS As part of the requiremenls of International Standards on Auditing we are required to report any audit misstalements identified by our work which have been adjusted in the accounls, These are detailed in section 6 of this report. We are also required to separalely reporl any audit misstatement5 idenlified which are unadjusted, olher than those which are "cleody trivial" to vser5 of the Financial Slalemenls. These are also set out in Section 6. RISK OF FRAUD AND ERROR IN THE FINANCIAL STATEMENTS We are required under international auditing standards to consider froud risk throughout the audil. In particular we must consider Irustee's aangeMentS for preventing and detecting traud and error. Fraud risks may include assel sales at under value, suppliers over billing for good5 or services. misappropriation of 05sets and cheque frauds. as well as manipulation of finonciol results. Thls work is now complete and has not identified ony matters which we wish lo draw to your attention. LEER OF REPRESENTATION We have included a letter of representation IAppendix11 for your review and approval.11 is important that this 15 reviewed and approved by 'lhose charged with governance,. Audil Findings Report | Scott IEredinel Charitable Trust
QUALITATIVE ASPECTS OF ACCOUNTING PRACTICES AND FINANCIAL REPORTING ACCOUNTING POLICIES Financial Reporting Standard 102 requires that entities should review their accounting policies regulady to ensure that they are appropriate to their particular circumstances for the purpose of giving a true ond fairview, We have reviewed the charily's accounling policies, as slated in Ihe financial statements, and confirm that they are appropriate to provide rel&vant, reliable, comporable ond understandable informalion. RELATED PARTY TRANSACTIONS We are required to focus on the idenlificalion and assessment of the risks of maleriol misslatemenl associated with relaled party relationships and transactions. We are required os an avdit team to discuss Ihe risks of fraud associaled with related parlies ond to perform specilic procedures on any relaled party Iran5actions outside the normal COU15e of busine55. Transactions with relaled parties have been adequately disclosed in the accounts. ACCOUNTING ESTIMATES A5 auditors, we are aware that the selected basis ol an accounting estimate may have a signilicant impact on the financial statements so in ourwoik we need to identify all accounting eslimate5 and the basis of Ihe eslimate and. where we consider there to be a high eslimalion uncerlainly. we musl ensvre our audil work challenges the basis of the eslimale. We are also required to consider the outcome of accounting eslimat&s in prior periods a5 0 basis for our risk a55essment in the current year. The m051 significant accounling estimates concern depreciation of fixed assets. classification ol funds, c05t allocation, and Ihe ba515 and calculation of the provision for bad and doubtful debts, We have reviewed these accounting eslimales for the charily and conclude Ihat Ihey have been calculaled on a basis thal is consi51enl with our knowledge of the charity and Ihe sector as a whole, GOING CONCERN We have considered the chorily's ability to continue as a going concern for a period of at least 12 months from the date of approving the accounts. We are pleased to report thal Ihere is no modification to our audit report. Audil Finding5 Report | Scott IEredinel Charitable Trusl
AUDIT AND ACCOUNTING ISSUES IDENTIFIED DURING THE AUDIT I.1 UPDATE ON PRIOR YEAR FINDINGS There were no audit issues to note in the previous year. 1.2 CURRENT YEAR FINDINGS During the course of Ihe audit. no issues relating to systems and controls came to our attenlion. Audit Findings Report | Scott (Eredinel Charitable Trvsl
AUDIT MISSTATEMENTS A summary of the unadjustedladjusted misstatements identified during the course of our work is set out below. We have not disclosed below those items that we consider to be 'cleady trivial, In the context of our audit. For Ihis purpose we consider'cleady Itivial. lo be any unodjusted malter less than £37.CM)). There are no adjusted or unadjusted misstatemenls to report. Audit Findings Report I Scolt IEredinel Charitable Trvsl

APPENDIX I LETTER OF REPRESENTATION TC Group The Courtyard Shoreham Road Upper Beeding steyning Wesl Sussex BN44 3TN Dear Sirs During the course of your oudil ol our financial statements lor Scolt (Eredinel Charitable Trust for the year ended 31 December 2024, Ihe following representations were made lo you by management and Trustees, l. We acknowledge as Trustees our responsibililies under the Companies Acl 2006 and Charilies Act 2011 for preparing Financial Statements in accordance with the applicable accounting framework ISORP 2019 - FR51021 and for making accurale repre5entation5 to you as auditors. 2. We confirm that in our opinion Ihe financial statements give a true and lair view and in particvlor that where any additional information must be disclosed in order to give a true and fair view thot informalion hos in fact been disclosed. 3. We confirm that all accounling records have been made available lo you for the purposes of your audit, in accordance with your terms of engagement, and thal oll Iransaclions undertaken by the chorlty hove been properly reflected ond recorded In Ihe accounting records, All olher records and related information, including minutes ol all management and Trustees, meetings, have been made available to you. We have glven you unrestricted access to persons within the chority in order to obtain evidence and have provided any addilional information that you have requested for Ihe purposes ol your audit, 4. We acknowledge our responsibility lor the design, implementation and maintenance of internal control syslems to prevenl and delecl fraud and error. We have disclosed lo you the resu115 of our risk a5se55menl that the financial stotement5 may be mi551oled as a result of froud. We have disclosed to you all instances of known or suspecled fraud affecting the entity involving management, employees who have a significant role in internal control or others that could have a molerial effect on the financial slotemenls. We have also disc105ed to yov all informalion in relation to allegations of Iravd or suspected fraud affecting the enlity's financial 5totement5 communicated by current or former employees, anoly515. regulotors or otheT5, 5. The effects of uncorrected misstatemenls los set out in the audil findings report) are immaterial both individually and in total. 6. The financial statements are Iree of material misstatements. including omissions. Audil Findings Report | Scott IEredinel Charitable Trust

APPENDIX I LETTER OF REPRESENTATION 7. The charity has satisfactory title to all assets and there are no liens or encumbiances on Ihe chaiily's assets. except for those that are disclosed in the notes lo the financial slatements. 8. We have recorded or disclosed. as appropriate. all liabilities, both actual and contingent, and have disclosed in the notes lo the financial statements all guarantees that we have given to third parties. 9. We have no plans or inlentions that may materially alter the carrying value and where relevant the laii value measurements or classification of assets and liabilities reflected in Ihe financial stalements. 10. The melhods, data and signilicant ossumptions used by us in making accounting eslimates, and their relaled disclosures, are appropriate to achieve recognition, measurement and disclosure that is reasonable in the conlexl ol the applicable financial reporting framework. I l. We conflrm that Ihe charily has had. al no time during the year. any arrangement, tran5aclion or agreement to provide credit facilities linclvding loans. quasi-loans or credit transactions) for Trustees, nor lo guarantee nor provlde securily for such mallers, excepl as already disclosed in the accounts. 12. We have disclosed to you all claims in connection with litigation Ihal have been, or or expected to be. received and such matters. as appropriale, hove been properly accounted for, and disclosed in. the Financial Statemenls ond thal these have been occounled tor in accordance with the opplicable financial reporting framework. 13, We confirm that we are nol aware of any possible or actual instances of non- compliance with those laws and regulations which provide o legal framework wilhin which the chorily conducts Its activilies and which are central lo the charily's ability to conduct its activitie5, except as explained to you and as disclosed in the financial statement5, 14. We confirm that Ihere have been no evenls since the balance sheet date which require disclosing orwhich would moterially allect the amounts in the tinancial statements, other than Ihose already disclosed or included in the financial stalements. 15, We confirm that Ihe charity has not conlracted for any capital expendilure other than as disclosed in the financial slalements. 16, We believe that the charity's financial statements should be prepared on a going concern basis on the ground5 that current and future sources ol funding or support wll be more than adequate for the charity's needs. We also confirm our plans for future actionls) required to enable the charity to continue as a going concern are feasible. We have considered a period of twelve months from the date of opproval of the financial 5talemenls. We believe that no further disclosures relating lo the charity's ability to continue as a going concern need to be made in the financial stalements. Audit Findings Rgport | Scott IEredinel Choritable Trust

APPENDIX I LETTER OF REPRESENTATION 17. We confirm that all related party relationships and transaction5 have been accounted lor and disclosed in accordance with the applicable accounting framework. 18. We confirm that the related party relationships and tian5aGlions set out below are a complele list of such relationships and tran5aclions and thal we are not aware of any further related parties or Iransaclions: Party A J Scott Relallonshlp Nalvre of Iransacllon Trustee Custodian trustee of John Swire shares. Able to allocate 5% of gross income discrelionally to charities of choice so long as not hoslile lo Armed Forces or Field Sports, No transactions to disclose. K J Bruce- Truslee Smith Custodion trvstee of John Swire shores. Trustee of The Newton Charitable Trust. Truslee ol Princes Louise's Kensington Regimental Association Charitable Trust. Trustee of The Mohan Choriloble Tnjst Tste8 of The HarmSWth 1998 UK Charilable Trust Trustee ol The Countess Sondes Foundalion Limiled No transactions to disclose. NHCWi115 Trustee Truslee of REACT Disaster Response Ltd. £IO.000 donation lo REACT Di505ter Response Ltd. J L Gibson Tru51ee Trustee of Drue Keinz Charitable Trust. Trustee ol Child Health Research CIO. Trustee of The Hocker Smith Continuily Trust No Iransaclions to disclose. 19. We acknowledge our legal responsiblliti85 regarding disclosure of inlormotion to you as auditors and confirm that: So lar as each trustee 15 aware. there is no relevant audit information thal you as audilors are unaware of,. and Each Irustee hos laken all the steps that they ought to have taken as Irustee to make themselves aware of any relevant audit information and lo e51ablish Ihal you are aware of Ihal information. 20. We confirm that we have reviewed the UK Sanctions list and confirm that lo our knowledg8 the charity has not had any Ironsactions wilh any entity connecled to Ihose listed. We confirm we have complied with the requirements of the UK 5anclions regime throughout the financial year and subsequently. www.c ov.uk ov Icalio e-uk-s ncli ns-lis Audit Findings Report | Scotl (Eredinel Charitable Trust io

APPENDIX I LETTER OF REPRESENTATION We confirm that the obove representations are made on the basis of enquiries ot managemenl and staff with relevant knowledge and expertise {and. where oppropriate of 5UPPOrting documenlationl sufficienl to satisfy ourselves thal we can properly make these representations to you ond Ihal to the best of our knowledge and belief Ihey accurately reflect the representations made to you by the trustees during the course of Ihe audit. Your5 failhfvlly .Truslee ..Date Signed on behalt of the board of trvstees Audit Findings Report | Scoll (Eredinel Charitable Trust li