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← The Duke Of Edinburgh's International Award Foundation

2025-03-31-accounts

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Financial Statements Financial Review forthe year ended 31 March 2025 We are extremely grateful to all our supporters for their continued generosity across all areas of ourwork. we are committed to ensuring ourincome is used efficiently. effectively and responsibly by making every pound count. Financial Review Structure, overnance and mana Trustees, Commitment Thankyou ement Headlines Our total income in 2025 was £15 million. an increase of £6.2 million on the previous year. Our expenditure grew by £0.65 million to £6 million. Inde endent Auditor's Re Consolidated Statement of Financial Activities Consolidated and Charit balance sheets Consolidated cash flow statement ort 2025 (£'000) 2024 (£'000) Increase/(Decrease) Unrestrlcted Income 14,051 7p761 6,290 (95) 6,195 Restricted Income 999 1,094 8,855 Total Income 15,050 Unrestrlcted Expendlture Restrlcted Expendlture Total Expenditure Notes to the financial statements 5,035 4,292 743 970 1,064 (94) 6.005 5.356 649 Income Total income grew by700/o to £15,050,000 (2024.. £8,855,000) duringthe year. Whilewe saw a modest decline in restricted income, our unrestricted income performed strongly, which was driven by an increase in donation and legacy income. The Duke of Edinburgh's International Award Foundation's Trustees present their annual report, including the Directors, report, and the audited financial statements of the company limited by guarantee for the year ended 31 March 2025. In preparing this report the Foundation's Trustees have cornplied with the Charities Act 2011. the Companies Act 2006, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FR5102 the Financial Reporting Standard applicable in the UK and Republic of Ireland ("Charities SORP (FRS102)"). UK Generally Accepted Practice and the provisions of the Memorandum and Article5 of Association for The Duke of Edinburgh's International Award Foundation. This report has been prepared in accordance with the CompaniesAct 2006 andwith regard to Charitycommission guidance on public benefit. Disclosures required in theTrustees' report (including the Directors. report) by the Companies Act 2006 and Charities SORP (FR5102) are also contained within the appendix. Donation and Legacy Income: £12,617,000 (2024: £6,934,000) We had an exceptional year for income from individuals and corporates totalling £12.120.000, an increase of£5,746.000. This includes significant one-off donations for the Founder's Fund. Income from Trusts and Foundations decreased marginally in the year by £115.000 impacting unrestricted funds. Restricted fund income from this source remains in line with the prior year. Donations in kind of £54,000 were significantly higherthan the prioryearand reflectthe generosity from White & Case supporting the sale of Award House. and the Royal Yacht Britannia who hosted an event. 26 27

Cha ritable Activities: £1,956,000 (2024: £1,716.000) Charitable Activities (Core Activities): £4.472,000 (2024: £3.911,000) Income from charitable activities i ncreased by £240,000 reflecting growth in the n umbers of licensed organisations delivering the Award, an increase in adults supporting the Award requiringtrainingand an increase in the numberof young people participating in the Award. Our charitable expenditure on core activities reflects our work directly with Award Operators including working with Operators to deliver the Mastercard Foun dation project as well as the Stand by Me Project. Our charitable activities also includes direct grant giving to Award Operators through both the Founder's Fund and International Special Projects. Income from OtherTrading Activities.. £295,000 (2024: £16,000) This income stream includes fundraisingticketed events. this increased by £279,000. In the prioryearwe focused on non-incomegeneratingthankyou and engagementeventsfor our donor network. In the currentyearwe focused on deliveringticketed events included a car rally around Scotland and a gala dinner. Charitable Activities (Developm ent Projects): £355.000 (2024.. £307.000) We have continued to invest in our digital products including the Online Record Book and the Award Community. During the year our spending increased by £52,000 on our Equity. Diversity and Inclusion work. we commissioned an external consultantto review our current practices and to make improvernent recommendations which have been implemented. Investment Income.. £182,000 (2024: £189,000) Th is declined by £7,000 in totality. The prioryear included £149,000 of one.off i nvestment property income relatingto a lease extension. The currentyear saw a rise of £149,000 of bank interest as we held funds within short term deposit accounts. Raising Funds: £i,178,00012024'. £1,138.000) Ourexpenditureon raisingfunds increased by£40,000 intheyear reflectingourcontinued efforts to engage with donors. This expenditure includes costs to support thank you events and fundraisingticketed events. Expenditure Investments and Investment Property During the year the Trustees took the decision to transfer their investment portfolio held with Investec Wealth & Investment Lirnited and tTansferred this to the Cazenove Sustainable Multi Asset Fund. Total funds invested at 31 March 2025 totalled £16.2 million. Our investments saw strong growth in the first nine months ofthe year butwere irnpacted latterly by uncertainty in global markets followingthe announcement of tariffs on imports to the USA. In the prioryear the Trustee5 took the difficult decision to sell Award House due to the significant amount of remedialwork needed to the building.The buildingwas sold during the year for £2,055,000, During the year, the Trustees also took the decision to Sell the investment property in Portugal. The property was sold post year end for EUR 390.000. We have recognised an unrealised loss in the year of £51,000 (2024: gain of £19,000) during the year in relation to this property. Raising Funds (£1,178) Charltable Development Actlvltles Digital Development (£247) Supporting Adults in the Award (£54) Diversity, Equity and Inclusion (£54) 202412025 Expenditure (£'ooos) Charltable Core Actlvltles Operating (£2,374) Communicating (£652) Resourci ng (£1,446) Cash Balances and Current Assets We aim to generate additional income from ourcash holdings, while maintainingenough funds to meet our working capital requirement5. As at 31 March 2025, funds that were not required for immediate working capital needs were held in a mixture of 35 and 95 day notice bank accounts. Ourtotal expenditure in the yearwas £6,005,000, this is an increase of £649.000 on the previous year. 28 29

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Statement of Trustees, Responsibilities The Trustees (who a re, for the purposes of com pany law, also directors of The Duke of Edi nburgh's I nternational Award Foun dation) are responsi ble for prepari ng the Trustees. Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the Trustees to prepare financial statements for each financial yearin accordancewith United Kingdom GenerallyAccepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fairview of the state of affairs of the group and charity and ofthe incoming resources and application of resources, including the income and expenditure, of the group and charity for that period. In preparingthese financial statements. the Trustees are required to: Trustees, Commitment TheTrustees confirm thatthese financial statements have been produced in accordance with relevant legislation. Each Trustee confi rm s that: insofar as the Trustees are aware. there is no relevant audit information of which the charity's auditors are unaware; and each Trustee has taken all the steps that helshe ought to have taken as a Trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditors are aware of that information. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differfrom legislation in otherjurisdictions. Further detail on Trustees, Com mitments and the structure, governance, and management of the Charity. managing responsibly and trustee responsibilities are provided on pages 33 to 40, which forms part of the Trustees, Report (including the Directors, report). The Trustees have re-appoi nted BDO LLP to act as a ud itors for the year en ded 31 March 2026. select Sultable accounting policies and then applythem consistently: observe the methods and principles in the applicable Charities SORP; • make judgments and estimates that are reasonable and prudent; state whetherapplicable UKAccountingStandards have been followed. subjectto any material departures disclosed and explained in the financial statements; prepare the financial Statements on the goingconcern basis unle55 It 15 inappropriate to presume that the charitable companywill continue in business. Thankyou TheTrustees are responsible for l<eeping adequate accounting recordsthat are sufficient to show and explain the charitable company's transactions and disclosewith reasonable accuracyat anytime the financial position ofthe charitable company and the group and enable them to ensure that the financial statements comply with the Companies Act 20061Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charitable company and the group and hence fortaking reasonable steps forthe prevention and detection of fraud and other irregularities. Financial statementsare published on the charity'swebsite in accordance with legislation in the United Kingdom governing the preparation and dissernination of financial statements, which may vary frorn legislation in other jurisdictions. The maintenance and integrity of the charity's website is the responsi bility of the trustees. The trustees, responsibilityalso extend5 to the ongoing integrity ofthe financial statement5 Contained therein. Thankyou to all our supporters and staff. We are sincerely grateful to all out donors fortheirtremendous support for ourworkand continued confidence in our efforts. We are grateful to all those individuals and organisations who have provided pro bono assistance over the past year. The Trustees would also like to thank all staff for their continuing hard work, loyalty. and support. This report (includingthe Directors, report) was approved bythe Board of Trustees on 23 November 2025 and signed on their behalf by.. Rlchard Oldfleld Trustee 23 November 2025 Reglstered office: Blue Fin Building 110 Southwark street London, United Kingdom SEI OSU Company number: 3666389 40

Independent Auditor's Report Conclusions Related to Going Concern In auditingthefinancialstatements,we have concluded thattheTrustees' useofthegoing concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perform ed, we have not identified any material uncertai nties relating to events or conditions that. individually or collectively. may cast significant doubt on the Group and the Parent Charitable Company's abilityto continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. to Members of The Duke of Edinburgh's International Award Foundation Oplnlon on the financlal statements In our opinion, the financial statements: give a true and fair view of the state of the Group's and of the Parent Charitable Company's affairs as at 31 March 2025 and of the Group's incoming resources and application of resources forthe yearthen ended. have been properly prepared in accordance with United Kingdom GenerallyAccepted Accounting Practice; and have been prepared in accordance with the requirements of the CompaniesAct 2006. Ourresponsibilities andthe responsibilities of theTrustees with respectto goingconcern are described in the relevant sections of this report. Other Information TheTrustees are responsible forthe other information. The other information comprise5 the information included in the Annual Report, otherthan the financial statements and our auditor's reportthereon. Ouropinion on the financial statements does not coverthe other information and, except to the extent otherwise explicitly stated in our report, we do not express anyforrn of assurance conclusion thereon. Our responsibility isto read the other information and, in doing so, considerwhetherthe other information is materially inconsistent with the linancial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to reportthat fact. We have nothingto report in this regard. Other Companies Act 2006 Reporting In our opinion, based on the work undertaken in the course of the audit: We have audited the financial statements ofThe Duke of Edinburgh's InternationalAward Foundation ("the Parent Charitable Company") and its subsidiaries (-the Group") for the year ended 31 March 2025 which comprise the consolidated statement of linancial activities, the consolidated and charity balance sheets, the consolidated cash flow Statement and notes to the financial statements. including 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 Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). Basis for Opinion We conducted ouraudit in accordancewith International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Ourresponsibilities underthose standards are furtherdescribed in the Auditor's responsibilities for the audit of the financial Statements section of our report. We believe thatthe audit evidence we have obtained is sufficientand appropriate to provide a basis for our opinion. the information given in the Trustees, Report, which includes the Directors, Report prepared forthe purposes of Company Law, forthe financialyearforwhich thefinancial statements are prepared is consistent with the financial staternents. and the Directors. Report. which is included in the Trustees. Report. has been prepared in accordance with applicable legal requirements. Independence We remain independent of the Group and the Parent Charitable Company in accordance with the ethical requirements relevant to our audit of the financial staternents in the UK, including the FRC'S Ethical Standard , and we have fulfilled our other ethical responsibilities in accordance with these requirements. In the light of the knowledge and understanding of the Group and the Parent Charitable Companyand its environment obtained in the course ofthe audit. we have not identified material misstatements in the Strategic report or the Trustees, report. 42 43

We have nothing to report in respect of the following Matters in relation to which the CompaniesAct 2006 requires us to reportto you if, in our opinion. misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: adequate accounting records have not been kept by the Parent Charitable Company. or returns adequate for our audit have not been received from branches not visited by us. or the Parent Charitable Company financial statements are not in agreement with the accounti ng records and returns. or certain disclosures of Directors, remuneration specified by law are not made. or we have not received all the information and explanations we require forouraudit: or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies. exemptions in preparing the directors, report and from the requirement to prepare a strategic report. Non-compliance with laws and regulations Based on: Our understanding of the Group and the sector in which it operates; Discussion with management, internal audit and those charged with governance. and Obtaining and understanding of the Group's policies and procedures regarding compliance with laws and regulations. We considered the significant laws and regulations to be The financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Statement of Recommended Practice (SORP)'Accountingand Reporting by Charities, published in 2019, the Charities Act 2011. the Companies Act 2006. Corporate and VAT legislation. Employrnent Taxes, and the BriberyAct 2010. The Group is also subject to laws and regulations where the consequence of non- compliance could have a material effect on the amount or disclosures in the linancial statements, forexamplethrough the imposition of fines orlitigations. We identified such laws and regulations to be health and safety legislation. Our procedures in respect of the above included: Responsibilities of Trustees As explained more fully i n the Statement of Trustees, Responsibilities. the Trustees (who are also the directors of the charitable company for the purposes of company law) 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 Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Group and the Parent Charitable Company's ability to continue as a going concern, disc105ing. as applicable. rnatters related to going concern and using the going concern basis of accounting unlesstheTrustees either intend to liquidate the Group orthe Parent Charitable Com pany or to cease operations, or have no realistic alternative but to do so. Auditor's Responsibilities for the Audit of the Financial Statements We have been appointed as auditor under the Companies Act 2006 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from rnaterial 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 thatan audit conducted in accordancewith ISAS (UK) will always detect a material misstatementwhen it exists. Misstatements can arise from fraud or errorand are considered material if, 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. Review of the Parent Charitable Company'5 documentation of risks and associated mitigating actions, considering ways that any risks could give rise to non.compliance with laws and regulations; Review of minutes of Trustee Board and Finance, Audit and Property Committee meetings for any indication of non.compliance with laws and regulatlOnS; Making enquiries regardingany matters identified as a Serious Incident reportable to the Charity Commission. Review of correspondence with regulatory and tax authorities for any instances of non- compliance with laws and regulations. Review of financial statement d isclosures and agreei ng to supporti ng docum entation; Review of legal expenditure accounts to un derstan d the nature of expenditure incurred; and Discussion with management, including consideration of known or suspected instances of non-compliance with laws and regulations. Extent to which the audit was capable of detecting irregularities. including fraud Irregularities. including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our re5POll5ibilities, outlined above, to detect material 44 45

Fraud

We assessed the susceptibility of the financial statements to material misstatement, including fraud. Our risk assessment procedures included:

A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council's ("FRC's") website at: https:lwww.frc.org.uk/auditorsresponsibilities. This description forms part of ourauditor's report.

Use of our report

This report is made solely to the Charitable Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitable Company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable Company and the Charitable Company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Based on our risk assessment, we considered the areas most susceptible to fraud to be management override of controls and accuracy and completeness of donations received from major donors.

73D8B18FE9AC4C89... Jill Halford (Senior Statutory Auditor)

For and on behalf of BDO LLP, statutory auditor London, UK

28 November 2025

Our procedures in respect of the above included:

BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

46

47

Consolidated Statement of Financial Activities

For the Year ended 31 March 2025 (Incorporating an Income and Expenditure Account)

For the Year ended 3131March 20252025(Incorporating an Income and Expenditure Account) (Incorporating an Income and Expenditure Account) (Incorporating an Income and Expenditure Account) (Incorporating an Income and Expenditure Account) (Incorporating an Income and Expenditure Account) (Incorporating an Income and Expenditure Account)
Unrestricted Restricted Total Un restricted
Funds Funds Funds Funds Restricted Total Funds
2025 2025 2025 2024 Funds 2024 2024
Note £'000 £'000 £'000 £'000 £'000 £'000
Income from:
Donations and legacies 3 11,649 968 12,617 5,879 1,055 6,934
Charitable activities 4 1,953 3 1,956 1,691 25 1,716
Other trading activities 5 274 21 295 16 16
Investments
Total Income		 6 175
7
182
175
14
182
14,051
222
15,050
z,z61
1,024
8,855
—SSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS
Expenditure on:
Raising funds 7 (1,057) (121) (1,178) (990) (148) (1,138)
Charitable activities - development projects 7 (355) (355) (307) (307)
Charitable activities - core activities 7 (3,623) (849) (4,472) (2,995) (916) (3,911)
Total expenditure 7 (5,035) (970) (6,005) (4,292) (1,064) (s,356)
Net operating income 9,016 29 9,045 3,469 30 3,499
Net (losses)/ gains on investments 10 (105) 100 (5) 164 (179) (15)
Net (losses)/ gains on revaluation of investment properties 9 (51) (51) (524) 19 (505)
Net income/ (expenditure) 8,911 78 8,989 3,109 (130) 2,979
Transfer between funds 15 41 (41) 58 (58)
(Losses)/Gains on revaluation of investment properties 9 (51) (51) (524) 19 (505)
(Losses)on revaluation offixed assets (407) (407)
Net movement in funds 8,952 37 8,989 2,760 (188) 2,572
Reconciliation of funds
Total funds brought forward 13,285 3,603 16,888 10,525 3,721 11,316
Total funds carried forward at 31 March 15 22,237 3,640 25,877 13,285 3,603 16,888

All the above results are derived from continuing activities. All gains and losses recognised in the year are included in the Statement of Financial Activities; therefore, a separate statement of recognised gains and losses has not been prepared. The £5,000 loss (2024: £15,000 loss) on investments comprises £358,000 realised gains and £363,000 unrealised losses (2024: realised gains of £nil and unrealised losses of £15,000). The results for the Charity are disclosed in Note 1 and on the balance sheet. The notes on pages 51 to 69 form part of these financial statements.

48

Consolidated and Charity balance sheets For the Year ended 31 March 2025 (Registered Charity number: 1072490; Registered Company number: 3666389) Group 2025 £'ooo Charity 2025 £'ooo Group 2024 £'ooo Charlty 2024 £'ooo The Foundation has elected to take exemption under section 408 ofthe Companies Act 2006 not to present the charitable company statement of financial activities. The Foundation made a surplus duringthe yearof £9,551,000 (2024: surplus of £1,924,000). General funds for the Group include funds retained by subsidiary entities of £26,000 (2024: £287,000). The financial statements set out on pages i to 69 were approved bythe Trustees on 23 November 2025 and signed on their behalf by.. Note Fixed Assets Tangi ble assets Investment Properties Investment Portfolio 27 27 962 1,471 962 1,471 290 16,200 290 16,200 io 9,520 9,520 Total flxed assets 16.517 16.517 11,953 11.953 Current Assets Debtors Short term i nvestments Cash at bank and in hand li 6,616 1,959 1,590 6,774 1,959 1.387 1,096 2.714 1,859 5,669 1,227 2,714 1.121 12 Total current assets 10,165 10,120 5,062 Llabllltles Creditors: amounts falling due within one year Net Current Assets (805) 9,360 (787) (734) (716) 9,333 4,935 4,346 Total Net Assets 259850 16,888 16,299 The Funds of the Group & Charlty rcl Oldfield INOV 23, 2025 11:47.'30 GMT+ii Restricted I ncome Funds 3,640 3,640 3,603 3,603 Richard Oldfield Trustee 23 November 2025 Unrestricted Income Funds: General Funds 2,377 19.860 2,933 2,075 9.156 2,054 2,069 8.573 Designated Funds Long term asset reserve Total Unrestricted Income Funds 15 19.277 2,054 22,237 22,210 13,285 12,696 Total Group & Charlty Funds 25.877 25.850 16.888 16.299 49

Consolidated Cash Flow Statement

For the Year ended 31 March 2025

For the Year ended 3131March 20252025
Total 2025 Total 2024
£'000 £'000
Cash flows from Operating Activities
Net cash generated from operating activities 3,44o 3,505
Cash flows from Investing Activities
Dividends, interest, and rents from investments 182 175
Proceeds from sale of property, plant and equipment 973
Purchase of property, plant and equipment (16) (20)
Proceeds from sale of investment property 1,130
Purchase of investments (6,733) (3,900)
Proceeds from sale of investments
Proceeds from sale of short term investments 755
Net cash used in Investing Activities (3,709) (3,745)
Change in cash and cash equivalents in the reporting year (269) (240)
Cash and cash equivalents at the beginning of the reporting year 1,852 2,022
Cash and cash equivalents at the end of the year **1,590 ** 1,859
Net income for the reporting year (as per the SOFA) 8,989 2,572
Adjustments for:
Depreciation charges 27 48
Depreciation on disposal (49)
(Gains)/losses on investments (5) 15
Investment managers fees 58 69
Dividends, interest and rents from investments (182) (189)
Revaluation of fixed assets 407
Revaluation of investment property 51 505
Increase in debtors (5,520) (33)
Increase in creditors 71 111
Net cash generated from operating activities 3,440 3,505
Analysis of changes in net cash
Net cash at 1 April 1,859 2,099
Net cash (outflow) (269) (240)
Net Cash at 31 March 1,590 1,859

The cash and cash equivalents at the end of the year of £1,591,000 (2024: £1,859,000) includes £187,000 (2024:

£731,000) for The Duke of Edinburgh's International Award Foundation (Canada), and £168,000 (2024: £190,000) due to National Award Operators.

The notes on pages 51 to 69 form part of these financial statements

50

Notes to the financial statements

For the Year ended 31 March 2025

1 Basis of Preparation and Consolidation

(A) Basis of preparation

The Duke of Edinburgh's International Award Foundation is a private company limited by guarantee, incorporated in England and Wales under the Companies Act. It is also a charity registered in England and Wales. The registered office to 30 September 2024 was Award House, 7-11 St Matthew St, London, SW1P 2JT, United Kingdom. From 1 October 2024 the registered office was Blue Fin Building, 110 Southwark Street, London SE1 oSU, United Kingdom. The details of the principal activities is provided in the Trustee's annual report.

The accounts have been prepared in accordance with the Companies Act 2006, the Charities Act 2011, FRS 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102); Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) (the SORP).

The financial statements have been prepared and rounded to the nearest thousand pounds.

The Duke of Edinburgh's International Award Foundation meets the definition of a public benefit entity under FRS 102.

The accounts have been prepared under the historical cost convention as modified by revaluation of investments and investment properties, and land and buildings.

(B) Consolidation

The consolidated financial statements include the results of the Duke of Edinburgh's International Award Foundation and its subsidiaries. A subsidiary is an entity controlled by the Foundation. Control exists where the Foundation has the right to govern the operating and financial policies of that entity. These financial statements do not include the financial statements of National Award Operators or Independent Award Centres as these are independent of the charity.

The Foundations subsidiaries are:

(C) Going Concern

The Trustees are required to confirm that it is appropriate for the Foundation to adopt the going concern principle in preparing its financial statements.

The Foundation made a sizeable surplus this year of £9 million. This follows two successful years including a surplus of £3.5 million in the prior year. The Foundation's unrestricted funds at 31 March 2025, were over £22.2 million, comprising a general fund of £2.4 million and a designated fund of £19.8 million.

The Trustees currently expect the results for the current year ending 31 March 2026 to show an overall significant surplus, including a general fund surplus in line with the plan to rebuild the general fund to its target level over a five-year period. Taking future plans into account, and based on cashflow forecasts prepared to December 2026, the Trustees have a reasonable expectation that the charity and group remains a going concern.

To ensure that our income streams and expenditure plans are in line with our projections, we continually refine our internal financial monitoring and decision-making procedures. In addition to a high-level monthly income and expenditure report that is produced promptly after each month end, a rolling monthly latest expected outturn report, monthly reviews with budget holders, and quarterly financial and cash flow forecasts. These are regularly reviewed by Trustees.

Management has determined that there is no material uncertainty that casts doubt on the Foundation's ability to continue as a going concern and therefore considers the Going Concern basis of preparation appropriate.

(D) Foreign exchange

Functional and presentation currency- The consolidated financial statements are presented in sterling, which is The Duke of Edinburgh's International Award Foundation's functional and presentation currency. Items included in the financial statements of each of the Group's entities are measured using the currency of the primary economic environment in which the entity operates (the functional currency).

Transactions and balances - Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Consolidated Statement of Financial Activities.

Group subsidiaries - The results and financial position of Group subsidiaries whose functional currency is different from the presentation currency are translated into the presentation currency as follows:

(E) Key accounting estimates and judgements

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

lntaward Limited UK Until 31 October 2024: Licencing award operators Ordinary I31 March
(03961099) Award House and fund raising on behalf 100%
7-11 St Matthew Street of its parent company, the
London DoE International Award
SW1P 2JT Foundation.
From 1 November 2024
Blue Fin Building
110 Southwark Street
London
SE1 oSU
The Duke of
Edinburgh's		 ICanada 199 Bay Street
Toronto		 Carrying out the charitable
activities of the DoE		 31 March
International ON M5L 1G4 International Award
Award Foundation Canada Foundation
(Canada)
(08304RR001)

(i) Donations for expenditure by specific NAOs are treated as restricted income, where their onward payment to NAOs is required to be phased over future periods. Where the Foundation acts as agent, donations received for immediate onward payment to NAOs are not recognised as income.

(ii) Estimates over the valuation of donations in kind of goods or services. The basis for the valuation of donations in kind is detailed in note 2(b) below.

(iii) Land and Buildings and Freehold Investment property- are carried at their revalued amounts at the balance sheet date. These values are determined by the Trustees as the estimated fair value of the properties using available market information, including the recent realised sale value of other properties of a similar size, condition, and location. Where the related asset is significant to the Foundation this value is determined for the Trustees by an external valuer.

No separate cash flow statement has been prepared for The Duke of Edinburgh's International Award Foundation as permitted by the exemption in paragraph 1.12 of FRS 102.

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51

2 Accounting Policies (A) Fund accounting (D) Tangible and intangible assets and depreciation All tangible fi'xed as5et5 C05ting morethan £i.000 are capitalised illitially at cost orwhere gifted to the Foundation atyaluatioll at the time of acquisition. Tangible fixed a55ets costing under Ei,000 are expensed in the yearthe expense 15 incurred. F￿ehOld Lahd ahd Bulldlh%s: The Foundation h35 elected to re-value its Freehold Land and Buildings and carry them at fair valuè at the valuation date less any subsequent attumul8t@d dèpreciation and actumulaied impairment losses so that the valuation ba515 15 consistent for all part5 of that property. Land and building5 are valued by an external valuer. Computer hardware and infrastructure: Computer software, includillg development of our digital tools is expensed and is not recognised a5 intangible a55et. Depreciation of fixed asset5 15 charged on a straight-line basis, commencing in the month of purchase. on tosi orvaluation as follows.. Fund5 held by the charity are either.. Unrestricted 8eneralfvnds- these are fund5 which can be used in accordance with the charitable objects at the discretion olthe Trustees. Unrestrltted desl8nated funds these are funds Set aside at the discretion ofthe Trustees for Specific purp05e5. Unrostrl¢td lonKiorm a￿1 funds- these are funds set aside which match the values ollong-terTn a55ets (mainly property). Rstrltt*d lund$- these are lunds that can only be used for particular restricted purp05e5 Wlthin the objec15 of the charity. Restrictions arise when specih-ed bythe donor or partner or when funds are raised for particular restrlcted purposes. Details are set out in Note 15. rixlures. fittings & furniture.. io% per annum. Computer systems. software and infrastructure.. 33.kn per annum or economic life of asset, whichever is shorter. Molorvehicles.. 25 k per annum. Freehold Buildings.. 2°/0 per annum (B) Income and endowments Intome Is rètognised when the Foundatlon Is Èniitled to Ihe Intome, any performante tondltions aitached 10 thè Intome have been mel. it is probable thai the income will be received. and the amount can be measured reliably. When income is received in advance olprovidinggoods and services, the illcome 15 deferred until the Charity becomes entitled to the illcome. Donations and legacie5 include World Fellowship donations. gift5, grant5 receivable and donations offacilities and services in kind. The specific bases used lor recognition o15uch income are a5 follows.. (E) Investment properties Investment propertie5 are those which are not held for social benefit Jnd where a rellable lairvalue 15 av4ilable. InveslTnent Donation income and legacies are recognlsed where Ihere is enliilemeni, probabilily of receipt and measurabilily. Donated fèclllties and services are included at the value to Ihe charity where this can be quantifled, and a thlrd party is bearing the cost. The value is determined by considering the amount the charity would pay for such services in the open market. An equlvaleDt expenditure amount 15 included in the fi'nancial 5talemen15 at the same lime as the incorne is recognised, No amounts are Included In the fln3ncial statements for services donated byvolunieers. Oonated assets are Included In Incomlng resources and ffxed assets at an estlmate ol their value to the tharlty at the properties are valued and subsequently measured al fair value with any surplusl Idelicitl recognised in the SOFA. In accordance with FRS 102, no depreciation is provided In respect of the Investment property. (n Investment Portfolio Listed Investments are held at bld value al the balance Sheet date and the SOFA Include5 the reallsed and unreali5ed investment sainsllosses For the year. Realised gains and losses on investments, calculated as the difference between the sales proceeds and thelr fair value ai the siarl of the year. or subsequeni cosi, are credited or charged 10 the SOFA in the year of 8ain or loss. Unrea115ed 8ains and 1055e5 representing the movement in fair values durin8 the year are credlted or charged lo the SOFA in the year ol the gain or loss. Current asset investments are short term deposlls With maiurily of less than 12 months but greaterthan three. Cash invested cannot be accessed for the duraiion of the term of the deposit. Where a fixed Interest rate applles, Interest income is recognised in SOFA on an accru81 ba515. Grant income is recognlsed In line wllh the supply ofservices or actlviiles contracted. Income from charitable activities and other trading income 15 accounted for when il can be reliably measured, there is entitlement and receipt is probable. Income from charitable activitie5 include5 licence fee income, Online Record Book Income, pariiclpani fee income, delegate fees and Income from tralning events. Othertradlng Income Includes commerclal fee income, fundraising event and auction income. Income from training and fundr8ising events is shown gross of any assDcialed expenditure. Income received in advance or an event or before the point al which entitlement pa55es, is deferred until enlillemenl lo that income hzs arisen. al which time it is credited to the SOFA, Where income is raised through fundraising events held jointly with connected charities within the Assoclatlon, onlythe share of that Income whl¢h Is attrlbutable to the Foundatlon Is recognlsed. (G) Cash and cash equivalents Cash and cash equlvalents include c8sh on hand, deposlts wlth banks 8nd fund5 that are readlly convertlble into cash at, or c105e lo, their carrying value5, bul not held for investment purp05e5. (C) Expenditure Expenditure is recDgnised when it is incurred and is reported gr055 of related income on the fDllowing ba5e5'. (H) Pension costs Expenditure on raising funds comprlses the costs associated wilh attractlngvoluntary income and the costs associated with fundraising events. The Foundation contribute5 to The Duke of Edillburgh's International Award Foulldation Group Personal Pension Plall. Thi5 15 4 defined contribution pension Scheme operated by Scottish Widow5. The contTibutiOn5 are recogni5ed a5 they1411 due. Where costs cannot be dirÈctly atlribuled, they have been allocated to activities on a basis consistent with the use or those resources, largely staff time spent. The charity 15 not able to reclaim all the VAT it pay5. Irrecoverable VAT 15 included in the expellse item to which il relate5. For fixed asset acqui51tiOn5. irrecoverable VAT 15 added to the capital c05t. (l) Operating Leases Rental paid under operatlng leases Is charged to the SOFA on 8 siralght-llne basls over the Ilfe of the lease. Where Ihe amounls involved are insignificant operating leases may be charged to the SOFA as they are paid. 53 54

3 Income from Donations (A) Donations and legacies 5 Income from Other Trading Activities Unrestricled 2025 £000 Restricled 2025 £000 Total 2025 £000 Unre5tricled RestTiCted 2024 2024 £000 £000 Total 2024 £000 Unrestricted 2025 £000 Re5tricled 2025 £000 Tolal UnTestiicted 2025 2024 £000 £000 Restricted 2024 £000 Total 2024 £'ooo Fundraising events 274 295 Don3tions- Individuals and Companies Donations-Trusts and FoundatlOn5 Donations in kind (note 3bl 274 21 295 16 11,557 563 12,120 5,720 654 6.374 558 16 38 54 405 443 54 157 401 11.649 968 12.6x7 5.879 1.055 6.934 6 Investment Income Unresblcted Restrlcted 2025 2025 £000 £000 Totsl Unrestrlcted Restrlcted 2025 2024 2024 £000 £000 £000 Total 2024 £000 26 Don3tions- Individua15 and Companie5 unrestricted funds include5 £103b64812024.. £649b9431 in relation to The Duke of Edinburgh's International Award Foundation (Canadal. Donations- Trusts and Foundations restricted funds includes £nil12024.. £24,8?Il In relation to The Duke of Edinburgh's International Award Foundation (Canadal. During the year, £268,55912024.. £265,809) was received on behzll of National Award Operaiors, Ihis is excluded from the above donation income as this is passed straight through to the related entity when received. Interest on other cash balances Investment property 175 175 149 163 175 182 175 14 189 (B) Donations in kind 7 Expenditure (A) Expenditure on charitable activities Donations In klnd received durlng the year are estlmated to be valued as follows.. Totjl 2025 £000 Tot41 2024 £000 Dlrectly Support Charged Costs Total 2025 2025 2025 £000 £000 £000 Dlrectly Support Charged Costs Total 2024 2024 20a4 £000 £000 £000 Legal, advlsory services and professlonal fees Events and donor support costs EXPENDITURE ON RAISING FUNOS 25 Raisin8 Funds Total Exp•ndltur• of Ralsln8 Funds 913 265 1,178 791 347 1.138 54 913 265 1,178 791 347 1.ty8 All Income from don3tlOns in kind In 2025 and 2024 wa5 unrestricted. EXPENDITURE ON CHARITABLE ACTIVITIES Development projects 4 Income From Charltable Actlvltles 54 247 54 54 247 54 Information Management and Digltal Development Supporting Adults in the Award 172 133 172 133 UnrestTlctd Rtstrlcted 3025 2025 £000 £000 568 367 Total Unrestricted Rèsirl¢t¢d 3025 2024 2034 £000 £000 £000 588 432 367 Total 2024 £000 432 355 355 307 307 Operator licence National Award Operator Levy Fee Online Record Book- IACS Ilndependent Award Cenlresl Training income Perlorm3nce related grantlother iDIDme Other Operating Income 346 346 Cor• actlvltl•s Operatlng Communicating Resourclng 1.782 452 1,236 659 179 174 901 901 861 861 592 2,374 200 652 210 1,446 1,352 457 1.090 2,011 636 1.264 88 88 46 21 22 Total Expendlture on Charltable ktlvltles Total Resources expended 3.825 1,002 4.827 3.206 1.012 4.218 4738 1.267 6,005 3997 1359 5*356 1.953 1.956 1.691 X.7x6 55 56

7 Expenditure continued

B) Support Costs

_7_Expenditure continued
B) Support Costs		 Expenditure continued
Raising Funds Operating Communicating Resourcing Total
2025 2025 2025 2025 2025
£000 £000 £000 £000 £000
Finance and Legal 94 210 71 74 449
General Management 38 86 29 31 184
Governance 15 33 11 12 71
Human Resources 14 31 11 11 67
Information Technology Costs 48 107 36 37 228
Office Costs 16 36 12 13 77
Property Costs 40 89 30 32 191
Total 265 592 200 **210 ** 1,267
Raising Funds Operating Communicating Resourcing Communicating Resourcing Total
2024 2024 2024 2024 2024
£000 £000 £000 £000 £000
Communications 1 a - - 2
Finance and Legal 137 260 71 69 537
General Management 58 110 30 29 227
Governance 22 41 11 11 85
Human Resources 17 32 9 8 66
Information Technology Costs 45 85 23 22 175
Office Costs 28 53 15 14 110
Property Costs 39 77 20 21 157
Total 347 659 179 174 1,359

Charitable activities - development projects, Supporting Adults in the Award is the cost of designing, piloting and evaluating a range of training projects and supporting digital platform; Information Management and Digital development is the cost of development of the Online Record Book and digital platforms; These activities have all been funded by funds that the Trustees designated as set out in note 15.

Staff costs included in the various channels of expenditure comprise those charged directly to raising funds and charitable activities and some allocated centrally on the basis of staff time. Overhead costs not directly charged to a channel are allocated using the same staff time proportions.

Restricted expenditure of £522,000 (2024: £694,000) has been directly charged to Charitable activities - core activities resourcing. Restricted expenditure of £73,000 (2024: £33,000) has been directly charged to Charitable activities - core activities operating. Restricted expenditure of £3,000 (2024: nil) has been directly charged to Charitable activities - core activities communicating. Restricted expenditure of £92,000 (2024: £33,000) have been directly charged to Raising Funds. All other expenditure is unrestricted.

(C) Net income before investment gains is stated after charging:

2025 2024
£000 £000
Auditors' remuneration
- Fees payable to the Foundation's auditor for the audit of the Group Accounts
- Fees payable to the Foundation's auditor for the audit of subsidiaries
- Fees payable to the Foundation's auditor for other services		 63
7		 60
7
Tax services 5 11
Other advice 14
Depreciation 27 48
Foreign exchange losses 45 106
Operating leases 96

Auditors' remuneration

(D) Staff Costs

(D)
Staff Costs
2025 2024
£000 £000
Wages and salaries 2,129 1,717
Social security costs 269 200
Pension costs 146 182
Other staff costs 573 585
**3,117 ** 2,684

(E) Staff numbers

(E)
Staff numbers
2025 2024
No. No.
Generating funds 9 8
Charitable activities 33 29
Average number of staff in the year 42 37

(F) Staff whose emoluments (excluding pension contributions) were in excess of£ 60,000

2025 2024
No. No.
£60,001 • £70,000 6 6
£70,001 • £80,000 i1 i1
£80,001 • £90,000 4
=
£90,001 - £100,000
£100,001 - £110,000 2 2
£110,001 - £120,000
£120,001 - £130,000
£130,001 - £140,000
£140,001 - £150,000
£150,001 - £160,000 1 a
11 9
2025 2024
£000 £000
Pension contributions in respect of above members of staff 92 84

Key management personnel are considered to be the senior leadership team. During the year the senior leadership team consisted of the Secretary General, the Chief Financial Officer and the Deputy Secretary General. Their combined emoluments for the year were £439,000 (2024: £281,000), including pension payments of £65,000 (2024: £57,000). During the year and the prior year one member of the senior leadership team received an uplift in compensation via a one-off employer pension contribution as approved by the Remuneration Committee. Other than that payment, the senior leadership team have the same pension rights, health insurance terms and bonus scheme terms as all other UK staff.

(G) Ex-gratia and redundancy payments

Compensation in 2025 of £51,000 was paid to five employees (2024: £30,000 paid to two employees) for loss of office during the year. Of this amount, £6,000 was an ex-gratia payment to one employee, with the remainder being comprised of between one- and three-month's salary as compensation and payment in lieu of notice period.

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57

7 Expenditure continued (H) Grant expenditure Slovakia- 513nd By MÈ Slovakia- Exp3ndin¥VolunteÈr NÈiwork Slovenia MEPI CsTeeT Aiademy Slovenia Open Award Centre5 in Slovenia Slovenia- Psycholo￿ Training South Afvica- 5tonehage Fleming South Africa- Mastercard Foundaiion 78 28 96 28 Grant5 expenditure of £584,000 12024.. £735,000) ha5 been charged to restricted charitable activities resourcing. The Foundation made 3412024.. 391 grants. with a maAimum value of £147.000 12024.. £131.0001. 21 22 2025 Grants to 2024 Grants to Trinidad & Tobago- Empowering Youth Voices.. Expanding & Enhancing Award Pro8ramme to Achieve 1% P3rticipation Amongst the Youth Population Togo- School Bank.. Project for Developin8 Entrepreneurial Skills The Gambia Award forAII Young People Uganda- Online Delivery enhancemeni Uganda- Mastercard Foundation UK- College Group Delivery Model Pllot USA- Discover their Inlinite Potential Zambia- Strengthening and Supporting Growth Zambia Wildliffe Zambia-The Award Wildfire (expansion prolecll Zambla YEF.Ti5hange Lets Plant Trees £000 £000 li io The follo¥ving individu31 Grants were rnade to National Award Operators in the year.. io Bahamas- Buildin8 Experiences TD8elher B@nin- MasiÈrtard Foundation Bulgaria The Incluslve Award Bulgaria- Founder'5 Fund Cameroon Global Youth Mob1112atlon Covid-19 recovery fund Canada- Expanding Role of the Award as a Cocurricular in Public Schoo15 Czech Republic- DoffE Amb8ssador Academy Czech Republic- Stand 8y Me Domlnlca- R.l.S.E Flnland- WorldReady Pathways.. Empowerlng Finn15h Youth through DofE-4H io 18 71 io 20 20 12 69 969 965 The lollowlng Indlvidual grants were made to Independent Award Cenires In the vear.. Germany- Piloting Berlin Leadership Lab Germany- $13rke Teens NRW Germany- Strong Teens Hesse fjermany- Sirong Teens New Lander Ghana- Mastercard Foundation Ghana YEF- Ensuring Inclusive & Quality Education foryoung people wlth 18 Ilaly- People Helpins People io io Total 969 968 12 8 Tangible Assets Group and Charity Ghzna Yenkyenfa Project Guinée- Le Mérite dans le5 Cenlres d'Accueil et les Orphelinats io Indonesla- DOEXUNFPA We Decide Indonesla- Founder's Fund Flxtur•s. flltlngs Computer $y$tems, & furnlture $oftware & Infr•structur• £000 £000 Freehold Land and Bulldlngs £000 44 24 147 Total £000 12 Israel- Founder'5 Fund jordan- Building Future Community Builders and Leaders Kenya- Compass Project Kenya- Creaiing Centres of Excellence Kenya- Masieriard Foundatio Madaga5C3r- La renai553nce de l Award Malta- DofE- SYNC Mauritius- Empowerlng Handltapped Youth.. Inclusion & Enga8mÈnt in the Award 97 Cost orvaluatlon at i Apill 2024 Addition5 Dlsposals Cost at 31 Morch 2025 289 ioi 1.019 1,409 16 181 268 83 ioi 452 Accumulated depreciation at i April 2024 Depreciation charge 12731 1731 (4471 1271 49 io 15 34 21 Accumulated depreciaiion at 31 March 2025 Nep31- Globalyouth Mobilization Covid-19 recovery fund Nep31- Provlding Access and Empowering Youth Llving in Homes Nepal World Fellowship funds- Development of the Award New Zealand- Reaching Rural Young New Ze4landeTS Nigeria World Fellowship fuNd5- Development ofthe Aw3rd Nigeria- Founderfs Fund Romania- Beyond Borders Romania- Stand By Me 12681 156) {ioil (4251 Net bookvalue al31 March 2025 Net bookvalue at 31 March 2024 16 28 918 962 17 32 123 123 66 131 59 60

9 Investment Property

_9_Investment Property
Investment Property Group & Charity Group & Charity
2025 2024
£000 £000
Fair value at 1 April 1,471 1,976
Disposals in year (1,130)
Fair value adjustment (51) (505)
Fair value at 31 March 290 1,471
Fair value adjustment
Portugal (51) 19
Award House (524)
(51) (505)

Investment properties consisted of the freehold interest in the Foundation's UK offices and a donated investment property in Portugal. In June 2024, the UK office was sold to a third party. This was held at fair value of £1.1 million reflecting the value obtained at auction in May 2024. The value of this investment property upon receipt was £2.8 million. The second investment property is valued at £290,000. This is based upon a sales valuation performed in February 2025. Small amounts of rent and expenditure are generated by it each year. The value of the property on donation receipt was £220,000. This property was sold in August 2025.

10 Investments

(A) Investment Portfolio

Group & Charity Group & Charity
2025 2024
£000 £000
Investment portfolio at 1 April 9,520 8,404
Additions at cost
Drawdowns from Portfolio
Net investment gains/(losses)		 11,199
(4,466)
(5)		 1,200
(15)
Investment manager fees (48) (69)
Market value of holdings at 31 March 16,200 9,520
Group & Charity Group & harity
25 2024
£000 £000
Ruffer Absolute Return Fund 9,296 5,140
Investec Wealth and Investment Limited 135 4,380
Cazenave Sustainable Multi-Asset Funds 6,769
Investment portfolio at 31 March 16,200 9,520

During the year, The Foundation withdrew funds from Investec and reinvested these with Cazenove. There were no drawdowns in 2024.

During the year the Foundation had investment losses of £5,000 (2024: losses of £15,000). These have been allocated to the development and restricted funds in accordance with the investment balances held in those funds calculated on a monthly basis. During the year the Foundation invested a net £6,733,000 (2024: £1,200,000) in line with our aim to rebuild our long-term reserves.

Group & Charity Group & Charity Group & Charity Group & Charity
2025 2024
£000 £000
Ruffer Absolute Return Fund 9,296 5,140
Cazenave Sustainable Multi-Asset Fund 6,750
UK Fixed income 1,218
Overseas Fixed income 575
Equities 1,871
Property 112 110
Other 513
Cash or cash equivalents 42 93
Investment portfolio at 31 March 16,200 9,520

(B) Subsidiary Undertakings

lntaward Limited UK Holding Company Ordinary 31 March
100%
The Duke of Edinburgh's Canada Carrying out the charitable activities of the DoE 31 March
International Award International Award
Foundation (Canada)

The Duke of Edinburgh's International Award Foundation (Canada) is consolidated in these accounts as the Foundation is able

to exercise significant influence and control over it, with at least 50% of the directors also being Trustees of the Foundation.

(C) Financial Results of Subsidiaries

(C) Financial Results of Subsidiaries
The Duke of Edinburgh's
International Award
lntaward Foundation (Canada)
Investment in: £ £
Cost at 1 April 2024 and 31 March 2025 2
£000 £000
At 31 March 2025
Assets 71 187
Liabilities (45) (187)
Reserves 26
2024-25
Income 23 108
Expenditure (13) (683)
Net Surplus/ (deficit) 10 (573)
At 31 March 2024
Assets 114 724
Liabilities (98) (151)
Reserves 16 573
2023-24
Income 27 675
Expenditure (16) (30)
Net Surplus 11 645

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11 Debtors ThÈ transfer bÈtsvÈÈn thÈ lon¥-tèrm asset fund and the devÈlopmÈnt fund is thÈ transfÈr of funds upon thÈ sale of Award House. All other Tr8nsffers between ffunds relate to the allocation of apportioned overhead costs and staff time. General Funds forthe Group include funds retained by subsidiary entities of £26,00012024: £281.0001. Group 2025 £000 Charity 2025 £000 Group 2024 £000 Charity 2024 £000 Trade debtors Other debtors Accrued income Prepayments Amounts due frotn subsldiarles 512 462 35 5.947 116 182 Year ended 31 Morch 2024 35 5,953 116 731 181 725 181 Total Restricted Long lerm Unrestricled Incorne asset Futhds Fund$ £000 £000 General Development Funds Fund$ £000 £000 6.962 2,900 Total Fund$ £000 3,791 14,316 1,094 8,855 11.0641 15,3561 214 237 £000 6.616 6.774 1.096 .227 Balance at 31 March 2023 Income Expenditure 559 4,861 13.4591 3,004 10.525 7,T61 (4,2921 12 Current Asset Investments 18141 1191 Group & Charlty Group & Charlty 2025 2024 £000 £000 inve5tmen15 Revaluation of Investment Property Revaluation of Fixed a55ets Transffer between funds 164 164 15241 14071 58 11791 15241 14071 15051 14071 Short term deposit5 1,959 2,714 114 1561 9156 1581 31603 1,959 21714 B•l•nce ot 31 March 2024 2.075 2,054 131285 16.888 13 Creditors: Amounts Falling Due Within One Year (B) Net Assets Group 2025 £000 Ch¥rlty 2025 £000 Group 20a4 £000 Chjrlty 2024 £000 Year ended 31 March 2025 Total Restrlcttd Unrestrlcted Income Funds Funds £000 £000 Trade creditors 127 512 166 127 508 152 190 340 204 191 336 189 General Dwelopment term Funds Funds asset Fund £000 £000 £000 Tot81 Fund5 £000 Accruals 805 787 734 716 Tanglble assets Investment properties Investment portfollo Net current assets 290 2,484 866 290 16,200 9,360 3.640 2s,877 13,716 6,144 13,716 8,494 14 Taxation 2.350 Bliance It 31 Mirch 2025 1,377 t9,860 22.137 tax exemption5 on income and profi'15 from inve5ttnents, and surpluses on anytradlng activltie5 carried on in the fUrthera￿(e olthe charlty's prlmary oblectlves. If these proflts and surpluses are applled solely for charitable purposes. Year ended 31 March 2024 15 Funds (A) Movement Lon% term Total Restrlcted asset Unre$trlcted Ihtome Futtd Funds Funds £000 £000 £000 924 962 1.130 1,130 6,506 4,687 General Development Futtds Fund$ £000 £000 Total Fumds £000 962 1,471 9,520 4,935 Tangible assets Investment properties In¥e5tmenl portfolio Net current assets 38 Year ended 31 Marth 3015 341 3,D14 248 6,506 2,650 9DI56 Tolwl Re5trlcted Gèneral Di￿lOpm￿t Lon8 torm Unr¢strl¢iod Intomè Total Funds asset Fund Funds Funds Funds Funds £000 £000 £000 £000 £000 £000 9.156 l3,285 3.603 16.888 9,T81 14.051 999 15,050 19841 15,0351 19701 16,0051 2.037 Balance at 31 March 2024 1,075 3603 16,888 2,054 Balance at 31 March 2024 Income Expenditure ullreali5ed11055esllgains on inve5tment5 Re81ised Ilossesllgains on investments Rev3lu3tion Df Investment ProppTty Transfer between funds 2.075 4,270 14.0511 2.054 14631 358 {4631 358 loo @631 358 tsil 83 2,012 12,0541 Balance at 31 March 2025 2Tr377 19Tr860 22,237 3*640 63 64

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(15 D) Restricted Funds continued 16 Financial Commitments All grants tre subjetl to tonditions and these condiliDns are rÈgu13rly rÈviÈwÈd. WhÈre tDnditions not mei, IhÈ grant Can be withdrawn. Current grants where performance conditions have not yet been fulfilled as at 31 March 2025 are.. Year ended 31 March 2025 i April 2024 £000 Investment Expethditure 8ainslOvssesl £000 £000 Transfer of funds £000 31 March 2025 Incorne £00 Founder's Fund £000 Internatlonal Special Projects £000 Youth Mastercard Ernpowerment Fund Foundation £000 £000 Total £000 Re8ionlCountry Specific Fund5 20 ioi Other Regionlcountry Restricted Anglo American Kenya Compa55 Project Creating Cenlres ol Excellence Project Afrika Tikkun 71 93 49 22 75 146 93 84 Total Future comfflitment5 21343 380 24 89 2,971 1451 Total due to be paid in FY25126 if performance condition5 are met io 70 2,852 21 431 211 669 260 49 2,774 21 Tanaka Fund Other Restricted Dlgiial Development WHOIGlobal Youth Mobilisalion Fundl Youth Empowerment Fund Stand by Me Mastercard Foundation 17 Related Party Transactions Flve 12024.. Four) Trustees or companles connected wlth Trustees 8re fully pald Members, Fellows or Corporate Fellows of the World Fellowship. During the year three Trustees made donations tol811ing £340,00012024.' one Trustees £100,oool of which, £75.00012024.. £25,000) was restricted to the Kenyan Compass Project. £75,00012024.. £25,000) for Global Activity and £io,00012024., £0) lor Iniernatlonal Special Prolecis. Trustees do not recelve any remuneration for their 5ervlce a5 Trustees, and no monetaryvalue Is Included in these fi'nafjcial statements for tlme spent by Trustees on the affalrs of the Foundatlon. Out of pocket expenses incurred by Trustees whlle czrrying Out their duties are reimbursed by the Foundation when claimed. During the year, expenses of £8,220 were reimbursed to three Trustees,12024'. two Trustees £3,237), The Foundalion has purchased Ihird-party indemnity Insurance for the Trustees.. Ihis was in place lor Ihe enilre year under review. Trustees do not recelve any remuneration for Ihelr seivlce as Trustees, and no mone18ryvalue Is Included In these fln8nclal statements for tlme spent by Trustees on the affalrs of the Foundatlon. Out of pocket expenses incurred by Trustees whlle Izrrying out their dutie5 are reimbursed by the Foundation when claimed. During the year, expenses of £8,220 were reimbursed to Ihree Tiustees,12024'. two Trusiees £3,237), The Foundaiion has purchased Ihird-part¥ indemnity insurance for the Trustees.. this was In place lor Ihe eniire year under revlew. During the year, the Foundatlon invested funds of £7.Imilllon In the Cazenove Suslalnable Multl Asset Fund. This fund Is manz8ed by Cazenove Capital and 15 parl ofihe Schroder's 8roup, where one of the Iruslee5 serve5 a5 the Chief Executive Offi'cer ICEOI, IDvesttnent management lee5 01 £4,100 were paid to Cazenove in the year. One Trustee is a TTUSlee of the Chrysalis Youth FoundalionlThe International Award lorYoun8 People Nigeria, the licensed natlonal operator For Nigeria, Two grant payments were made in the year iotallin8 £130,564. The operator also pald £7,464 lo the Foundation durlng the year for the NAO levy fee. The amount due from the operator at the year-end was £nll. One Trustee Is 8 Trustee of the Duke ofEdinbur8h's International Award Foundatlon Czech Republlc, the Ilcensed n8lional operator for Czech Republic. Two grant payments were made in the year lotalling £79,929. the operator paid £iiy580 lo the Foundation during the year for the NAO levy lee. The amount due Irom the operator 81 the year-end was £13.339. One Trustee 15 a Trustee olthe Duke of Edinburgh's International Award Foundation-51ovakia, the licensed naiional operator for Slovakia. Two grani payments wÈre made in the year tolalling £106,348. The operator paid £10,459 to the Foundailon during the year ffor the NAO levy fee. The amount due from the operator al the year-end was £nil. The Trustees have reviewed the related party connections of themselves, their c105e families and other connected persons and report that no di5closable tran5actlOn5, Otherthan those described above, arose duringtheyear from these connectlOn5. One member of the Found3tion'5 Senior Leadership Team 15 a member of the Board of Award USA. the licensed national operator for the USA. One grani payment was made 10 Award USA In the prloryear of £14,000. The operator paid £1.683 10 the Foundation during the year lor the NAO levy lÈe. Transactions with Intawèrd Limited in the year arÈ detailed below.. 256 188 177 12971 167 158 31640 Totsl 3Tr603 999 19701 49 1411 Y￿r ¢nd¢d 31 March 2024 Investment ExpendltUTe Bpln51(1055851 £000 £000 Transfer 31 MaKh of lunds 2024 £000 £000 2023 Incoffle £000 £000 Regionlcountry SpeciNc Fund5 107 46 93 39 23 69 3,149 Oiher Regionlcountry Restricted Anglo American Kenya Compa55 Project Creating Cenires ol Excellence Projeet Afrika Tikkun 93 71 49 1201 66 256 1201 13771 2,852 Tanaka Fund Other Restricted Dl8iial Development WHOIGlobal Youth Mobillsaiion Fund Stand by Me Mastercard FDundaiion 42 42 21 190 409 268 177 Totsl 3.791 1,094 11.0641 (1601 1581 3.603 2025 £000 2024 £000 Balance sheet Items: Loan to Intaward 33 87 67 68

17 Related Party Transactions continued Tran5actlOn5 Wlth The Duke of Edinburgh'5 International Award Foundation Icanadal in the year are detailed below- 2025 £000 2024 £000 Income and Expenditure item5 Service Agreement 678 28 At the year-end an intercompany balance of £181.00012024.. £151.000I 15 owed froffl The Duke of Edinburgh's International Aword ICanad81 to the Charity. 18 Pension Schemes Durin8 the year10 31 March 2025 the Foundation contributed £236,00012024.. £182,000) of unre5tricled expenditure lo The Duke ol Edinburgh'5 International Award Foundation Group Personal Pension Plan. Thi5 15 a defined contribution pension stheme operated by Scottish Wldows. As at 31 March 2025 £17.00012024.. £51,oool was due 10 be paid 10 Scottish Widows. 19 Leases The Foundation holds an operatin8 lease lor oflice space. The total future minimum lease payments under non-cancellable operatlll8 leases ale as follows.. Find out more about the work of the International Award Foundation, and how you could support the next generation of young people to find their purpose, passion and place in the world 2025 £000 193 2024 £000 Within one year Between one and five years Totsl mlnlmum lease payments X93 Lease payments recognlsed as an expense during the year tolalled £96,00012024.. £nlll. The charity does not have any options to purchase the leased assets at the end ol the lease term. 20 Post Balance Sheet Events On 25 August 2025. the Foundation sold ils investment property in Portugal. A sales value ofé390,000 was achieved. The property is held at this value net ol cos15 of Sale al the balance sheet dale. intaward.org 0 2025 The Duke of Edinburgh's International Award Foundation Registered charity in England and Wales number 1072453 Cornpany lirnited by guarantee number 3666389 69