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Company Number: 3688493 Registered Charity Number: 1075405

UNIVERSITY OF CALIFORNIA TRUST (UK) (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

UNIVERSITY OF CALIFORNIA TRUST (UK} (LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES YEAR ENDED 30 JUNE 2024

	PAGE
Trustees and Advisors	3
ReportoftheTrustees	4-9
Statement ofTrustees’ Responsibilities	10
Report ofthe IndependentAuditor	11-13
Statement of Financial Activities	14
Balance Sheet	15
Cash Flow Statement	16
Notes to the Financial Statements	47-29
Appendices	30-33

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES YEAR ENDED 30 JUNE 2024

Trustees and Directors

Mr. B.B. Barber Mr. D.M. Helson Ms. H.R. Kopeck Ms. O.L. Miller Mr. G.A. O'Neill Mr. S.P. White Mrs. R.C. Duci Mrs. J. Anderson (Appointed on 7 March 2024)

Key Management

Ms. G. Paa-Kerner

Principal Address

81 Gower Street London, WC1E 6HJ

Banker

Barclays Bank Pic 180 Oxford Street, London W1D 1EA

Solicitor

Kingsley Napley 14 St. John's Lane, London EC1M 4AJ

Auditor

Azets Audit Services, Statutory Auditors 2™ Floor, Regis House, 45 King William Street, London EC4R 9AN

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES YEAR ENDED 30 JUNE 2024

The Trustees present their report and the audited accounts for the year ended 30 June 2024.

Structure, Governance and Management

Organisational Structure and Governing Document

The Trust is a company limited by guarantee. The University of California Trust (UK) was incorporated in December 1998.

The Trust is a registered charity under the laws of England and Wales, which is overseen by the United Kingdom Charity Commission. A Management Board is responsible for the activities of the Trust. The Board ensures that the mission of the Trust is implemented, and that the financial and management matters adhere to English and Welsh law.

There are currently five members each giving a guarantee to contribute a sum, not exceeding £1, to the company should it be wound up. The governing document is the Articles of Association.

Appointment of Trustees

The appointment of Trustees is governed by the Articles of Association of the company. The number of trustees must consist of at least two but no more than ten individuals. All appointments must be approved in writing by a duly authorised officer of the University of California,

The Trustees, who are also the directors for the purpose of company law who served during the year were: Mr. 8.8. Barber Mr. D.M. Helson Ms. H.R. Kopeck Ms. D.L. Miller Mr. G.A. O'Neill Mr. S.P. White Mrs. R.C. Duci Mrs J. Anderson

None of the Trustees had any beneficial interest in the company during the year. The day-to-day management of the Trust has been delegated by the Trustees to Greta Paa-Kerner..

Trustee induction and training

The trustees assess the need to provide training to new trustees on an individual basis. Trustees are sent information on an on-going basis of any changes to charity regulations to ensure they are aware of the impact that this may have on their responsibilities.

Risk management

The Trustees have a risk management policy that includes:

e Anon-going review of the risks the charity may face; e Systems and procedures to mitigate those risks; and
e Procedures designed to minimise any potential impact on the charity should those risks materialise

The Board of Trustees is responsible for managing the risks faced by the Trust. Consideration of such risks is made on an on-going basis, and controls to mitigate such risks are also reviewed on an on-going basis. Although no formal codification of the risk management systems and procedures is in place for the Trust the Trustees are satisfied that identified risks are adequately mitigated.

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES YEAR ENDED 30 JUNE 2024

Objects and Activities

The objects of the charity are to advance the education of the students of the University of California in England and Wales and elsewhere and of students from institutions of higher education in England and Wales and elsewhere by:

a) advancing the education of students in the culture, history, institutions, intellectual, artistic, and economic life of the United Kingdom, Eire, and other countries by providing courses and lectures in academic subjects
b) arranging and administrating the provision of courses and lectures in academic subjects at institutions of higher and further education in England, Wales and elsewhere
¢) maintaining and developing relations between institutions of higher education in England and Wales and elsewhere for the advancement of education of students
d) providing or assisting in the provision of grants or loans to students
e) providing services and assistance to students from institutions of higher education in England and Wales and elsewhere enrolling in the University of California: and
f) planning and carrying out joint projects related to the academic mission of the University of California and its partner institutions of higher education in England and Wales and elsewhere insofar as such projects are charitable.

In setting the objectives and planning the activities the Trustees have given consideration to the Charity Commission's general guidance on public benefit.

Management Team

A senior management team implements plans and programs as determined by the Trustees: an Executive Director who works in partnership with the Board of Trustees, themselves representatives of the University of California and its campuses, and a financial controller manages the Trust's business affairs from California.

At the end of 2024, the University of California Trust employed 5 full-time and 2 part time staff members: an Executive Director, an Operations Manager, an Engagement Manager, a Development Officer, a Documents Library Manager, a Development Research Assistant and Finance Coordinator. The Finance Coordinator is employed as a 60% FTE and the Development Research Assistant is employed as 20% FTE.

In accordance with the Objects and Powers of the Trust, the Trust’s goals for FY 2023-24 (as in previous years) were to:

e Increase opportunities for prospective students from England and Wales and elsewhere to study at the University of California
e Extend services and assistance to University of California students to study in Europe e Increase the number of joint projects related to the academic mission of the University of California between UC’s campuses and institutions of higher education in England and Wales and elsewhere in Europe
e Stimulate philanthropy from Europe to the University of California campuses in order to further the advancement of University of California students and stimulate philanthropy of Europeans in the United States to further the advancement of prospective students to the University of California

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES YEAR ENDED 30 JUNE 2024

2023-24 Achievements & Performance

The fiscal year 2023/24 was a record-breaking year in terms of engagement with both volunteers and with the campuses of the University of California, this has been possible due to the hard work of our UC Trust team, support from our Board and our closer connections with campuses.

This year the UC Trust took bolder steps into Europe and arranged both student and alumni engagement activities in Barcelona and Madrid. Working with the central EAP office we celebrated the 50th anniversary of education abroad in Barcelona followed by a standing room only event at a local restaurant. Together we also hosted an initial mixer in Madrid. Events in both cities proved so successful that the Trust hosted further events including professor talks and alumni/student mixers in both cities throughout the remainder of the year. We aiso forged closer relationships with higher education institutions in each city, with the goal of growing opportunities for research, innovation and knowledge exchange.

The UC Trust continued to enhance the student experience by hosting a career panel in London where an archaeology student had the opportunity to speak with an alumna working in this field and a new student studying data science had the opportunity to speak with an alumnus who already works in the sector.

Building on the importance of global cooperation, the UC Trust's relationship with other higher education institutions enabled UC students to participate in Imperial College London's Global! Challenge Lab, which is a virtual business start-up sprint designed to bring entrepreneurial students from around the globe together to work on a common problem. Twenty-eight students from the UC campuses participated.

The UC Alumni UK, a volunteer council of campus alumni clubs, was busy throughout 2023/24 hosting all UC events as well as individual campus-led activities, such as days of service. They Jaunched a new affinity club, UC Pride UK and participated in the London Pride Parade. Three campuses now have new alumni volunteer ambassadors: UC Irvine, UC Santa Cruz and UC Merced. Lastly, the year ended with elections and a new alumni volunteer leadership team is now in situ.

This year we also expanded our Board of Trustees adding Jodi Anderson, a UC Santa Barbara and UCLA double alumna, former Student Regent, and former UC Trust staff employee. In F¥2024-25, both will work alongside ail our Trustees in one of two task forces, one dedicated to strengthening the Board and the other to developing relevant policies to accompany the new Articles of Association that are currently being approved by the UK Charity Commission and Companies House.

In all, nearly 100 alumni volunteered their time, energy and expertise to enrich the lives of study abroad students and alumni living in Europe, particularly in the UK. Harnessing the community's natural sense of curiosity and generosity, we have built a brighter and a stronger network and continue to develop opportunities for innovation, research, cultural exchange, and business engagement between the UK, Europe and the 10 UC campuses.

Plans for 2024-25

Over the 2024/25 year the UC Trust (UK) will continue to set curiosity in motion. We will foster opportunities to advance education, learning, and research for the students and alumni of the University of California in England and Wales and elsewhere and of students and academics from institutions of higher education in England and Wales. Some activities for the upcoming year include:

Enrich the lives of alumni living in the UK & Europe:

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UNIVERSITY OF CALIFORNIA TRUST (UK)
(LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES
YEAR ENDED 30 JUNE 2024
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Maintain momentum with the highly engaged and well-organized UC Alumni UK through the Running Club, Gala Committee, Third Thirsty Thursday, Sustainability Group, and Mentorship Committee.
Grow the engagement of the UK alumni network from UC campuses that are proportionally underrepresented through targeted LinkedIn and direct email outreach.
Hosta blend of networking, scholarly and cultural enrichment events throughout the UK and Europe.
Expand the number of volunteer alumni groups throughout Europe.

Enhance the international experience for UC students:

Align activities more closely with the UK Education Abroad team enabling Students to be responsible citizens in the United Kingdom and Europe for the public benefit by organising lectures and networking events for the advancement of culture, heritage, technology and science
Support the advancement of career opportunities for Students through career panels and alumni/student mixers.

Promote and facilitate the exchange of knowledge and enabling innovation between institutions of higher education and the broader community for the advancement of education:

Participate in the Global Challenge Lab, which is hosted by Imperial College London. This opportunity enables student entrepreneurs to work with other like-minded students globally to help tackie the United Nation’s Sustainable Development Goals.
Support the Sustainability Committee, which is a group of alumni volunteers and UC faculty to continue to share research, brainstorm ideas and participate in an open dialog about cross-border sustainability cooperation.
Host networking events supporting visiting and residential UC faculty who are subject matter experts in a range of topics including health, technology, the environment and human rights for the benefit of alumni, Students and the wider community.

Facilitate giving back to Students inctuding philanthropic donations to support socio-economically disadvantaged students in their education:

Runa series of workshops with transnational giving partners and the development offices across the UC campuses.
» Support the transfer of donations from across Europe to their respective campuses. Highlight these successes in Trust communications and with relevant stakeholders.
Organize the 8th Annual Gala, which will be held in London on 10th May 20285, to help raise funds to support many scholarships and initiatives aimed at disadvantaged students and first-generation students — including education abroad, athletics, disability provision and internship funds.

With a well-considered engagement plan, the Trust will continue to advance education, learning, and research through cultural, educational, and philanthropic activities and, ultimately, the Trust continue to unleash the power of curiosity for the benefit of people and planet.

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES YEAR ENDED 30 JUNE 2024

Financial review

1. Donations to the University ofCalifornia from Europe	1. Donations to the University ofCalifornia from Europe
Berkeley
Study abroad general support fund					3,050
School ofBusiness - Scholarships					63
Human Mortality Database					39,232
Library					59
School ofLaw					994
CAL Fund FX0222000					59
Sustainability Initiatives					60
ProfessorWilliam Boos Graduate Student SupportFund					29,509
Haas Dean's Initiatives Fund		~~_~~			~~603~~
UCLA
UK Undergraduate Study Abroad Scholarship Fund					6.111
Department ofLinguistics					12
Department ofMusicology					775
Anderson School ofManagement					284
GSEIS Dean's Scholars Fund					27
Ataxia-Telangiectasia Research					193
Sustainability Initiatives					5
Department ofHistory					784,929
Center for Middle East Development					39,300
Division ofUndergraduate Education -Dean's Discretionary& Scholarship Fund					428
LawEuropean Scholarship Fund forLLM Students	Fund				10
~~Study Abroad - European Undergraduate Scholarships~~					~~44~~
UC Davis
StudyAbroad					§31
Sustainability Initiatives					45
~~__~~			~~_~~
Santa Barbara
UK Donor Group					3,497
Area of Greatest Need					133
	~~*~~
Santa Cruz
~~Study Abroad Fund~~					~~419~~
San Diego
UK Alumni Education Abroad Program Scholarship					4.632
Alumni Services					728
Sustainability Initiatives					79
SeadragonSearch Community Science Project					1,100
LGBTInitiatives					5
Irvine
~~Irvine - Study Abroad~~					~~498~~
Riverside
~~Education Abroad Program~~	~~oe~~				~~526~~
San Francisco
UC San Francisco	~~oe~~			~~:~~	12

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES YEAR ENDED 30 JUNE 2024

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2. Restricted Donations to University of California Trust for expenditure in the UK

There were no direct donations to the University of California for expenditure in the UK.

The net unrestricted resources for the year amounted to a deficit of £44,011 leaving unrestricted retained funds at 30" June 2024 of £50,111

Investment policy

The majority of the charity's funds are to be spent in the short-term meeting the Trust's objectives rather than for long term investment. The Articles of Association authorises the Trustees to make and hold investments using the general funds of the charity.

Reserves policy

The trustees have established the level of reserves that the charity must maintain. The Trustees are aware of the negative reserve balance and are working towards changing this balance to a positive one. All funds received are currently used to achieve the objectives of the charity. Any surplus funds are used for the same purpose and at present the Trustees do not have a formal reserves policy. Over time the Trustees hope to invest surplus funds into other sources to generate further investment returns.

Tax status

The company has charitable status and is exempt from corporation tax on income arising from its activities.

UNIVERSITY OF CALIFORNIA TRUST (UK} {LIMITED BY GUARANTEE)

STATEMENT OF TRUSTEES’ RESPONSIBILITIES YEAR ENDED 30 JUNE 2024

Trustees’ responsibilities statement

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

° select suitable accounting policies and then apply them consistently; ° observe the methods and principles in the Charities SORP 2015 (FRS 102); ° make judgements and estimates that are reasonable and prudent;
° state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

e there is no relevant audit information of which the charity’s auditor is unaware; and e the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

Auditors

The auditors, Azets Audit Services, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of Corporate Trustees and signed on its behalf by:

H.R. Kopeck Director

Date:

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITOR YEAR ENDED 30 JUNE 2024

Independent auditor’s report to the members of University of California Trust (UK)

Opinion

We have audited the financial statements of University of California Trust (UK) (the ‘charitable company’) for the year ended 30 June 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the 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).

In our opinion, the financial statements:

° give a true and fair view of the state of the charitable company's affairs as at 30 June 2024 and of its incoming resources and application of resources, for the year then ended;
e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and the provisions available for small entities, in the circumstances set out in note 1 to the financial statements, 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.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

° the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
° the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Other information The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

REPORT OF THE INDEPENDENT AUDITOR YEAR ENDED 30 JUNE 2024

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 or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

e the information given in the trustees’ report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
e the directors’ report included within the trustees’ report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

e adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
e the financial statements are not in agreement with the accounting records and returns; or e certain disclosures of trustees’ remuneration specified by law are not made; or
e we have not received all the information and explanations we require for our audit;

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, 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 charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements 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. Reasonabie assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and 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.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

14 February 2025

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

STATEMENTS OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) YEAR ENDED 30 JUNE 2024

		Unrestricted funds	Restricted funds	Tan	Lal
	Note	2024	2024	2024	2023
		E	£	£	£
Voluntary income and activities forgeneratingfunds	2	749,882	918,131	1,668,013	3,772,377
Total Incoming Resources		749,882	918,131	1,668,013	3,772,377
Resources Expended
Total Resources Expended	3	794,069	917,954	1,712,023	3,708,522
NetResources Retained		(44,188)	177	(44,011)	63,855
Funds at istJuly 2623		90,413	-	90,413	26,558
Transferbetweenfunds		177	(177)
Fundsat30thJune2024	13	46,402	-	46,402	90,413

There were no recognised gains or losses other than those shown in the Statement of Financial Activities. There were no acquisitions or discontinued operations during either of the above two financial years.

The accompanying accounting policies and notes on pages 17 to 28 form part of these financial statements.

UNIVERSITY OF CALIFORNIA TRUST (UK) {LIMITED BY GUARANTEE)

BALANCE SHEET YEAR ENDED 30 JUNE 2024

	Note	2024		2023
		£	£	£	£
Fixed Assets
Tangible assets	7		-		-
CurrentAssets
Debtors	8	-		-
Cash at bank and in hand		78,053		127,034
		78,053		127,034
Creditors -amounts falling
duewithin oneyear	9	(31,651)		(36,621)
Net Current (Liabilities) Assets			46,402		90,413
Total Assets Less Current
Liabilities			46,402		90.413
Represented by:
Unrestricted funds			46,402		90.413
Restricted funds			-		-
			46,402		90.413

The financial statements were approved and authorised for issues by the Board.

Signed on behalf of the board of trustees and directors

H.R. Kopeck Director

Date: 12/2/2025

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

CASHFLOW STATEMENT YEAR ENDED 30 JUNE 2024

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Notes|2024|2023| |£|£| |Cash flows from|operating|activities:| |Cash|generated|from|operations|16|(48.981)|84,026| |Cash flows from|investing|activities:| |Purchase|of tangible|fixed|assets|7|-|-| |Change|in cash and cash equivalents|in the reporting|period|(48,981)|84,026| |Cash and cash|equivalents at the beginning|of the|reporting|127.034|43,008| |period| |Cash|and cash|equivalents|at|the end|of the|reporting|period|78,053|127,034|

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The accompanying accounting policies and notes on pages 17 - 29 form part of these financial statements.

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

ACCOUNTING POLICIES

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

The principal accounting policies adopted, judgements and key source of estimation uncertainty in the preparation of the financial statements are as follows:

(a} General Information

The University of California Trust (UK) Limited is a registered charity no 1075405. It meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The charity operates from 81 Gower Street, London, WC1E 6HJ.

(b) Basis of Accounting

The financial statements have been prepared in accordance with 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) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

University of California Trust (UK) Limited meets the definition of a public benefit entity under FRS 102. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The financial statements are prepared in sterling which is the functional currency of the charity. The level of round adopted in the financial statements is to the nearest £1.

(c} Legal status

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

{d)

Preparation of the accounts on a going concern basis

As a satellite office of the University of California, the Trust has reasonable expectation that there are adequate resources to continue in operational existence for the foreseeable future even in the event of the accounts showing a deficit and/or negative balance sheet. It has therefore continued to adopt the going concern basis in preparing its financial statements.

{e) Income

All income resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.

Income from charitable activities included grant income, other income and rent income. The grant income is expensed on the two main activities of the charity being donations to University of California and the awards of scholarships and grants to students. Other income and rent income are re-charges to related parties. This is disclosed in the financial statements.

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

ACCOUNTING POLICIES (continued)

(f} Expenditure

All expenditure is accounted for on an accruals basis and has been classified under heading that aggregate all the costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probably that the settlement will be required, and the amount of the obligation can be measured reliably. it is categorised under the following headings:

Expenditure on charitable activities includes donations to various campuses of the University of California. Support costs are indirect costs incurred in supporting the charitable activities and are allocated to charitable activities as disclosed in the notes. Fundraising costs are costs incurred during fundraising activities and includes costs for organising receptions and events. Governance costs comprise the expenditure incurred for the management of the charity and the compliance with constitutional and statutory requirements.

The Charitable Company is no longer VAT registered. Expenditure includes VAT.

(g) Tangible fixed assets

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Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at
rates calculated to write off the cost less estimated residual value of each asset over its expected
useful life as follows:
Computer equipment - 33.33% straight line
Fixtures, fitting and equipment - 25% reducing balance basis
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The trustees carry out an annual impairment review of the value of fixed assets to determine whether any adjustment to the value of the assets is required. The company has a specific policy regarding capitalisation of expenditure based on amounts incurred and no amounts under £1,000 are capitalised.

(h) Taxation

The charitable company is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I! Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

(i) Pensions The Charity contributes to a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the Charity in independentiy administered funds. The pension cost charge represents contributions payable by the Charity to the scheme.

(j) Operating Leases Rentals payable under operating leases are charged to the Statement of Financial Activities on a straight-line basis.

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

{k) Fund accounting

Restricted funds - these are funds that can only be used for specific restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

{l) Debtors

Trade debtors and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

(m) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less.

(n) Creditors Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

Accruals and other creditors are recognised at their settlement amount due.

(o) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

(p) Foreign currency

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. All exchange differences are reflected in the Statement of Financial Activities.

{q) Judgements and key sources of estimation uncertainty Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technologicat advancement, future investments, economic utilisation and the physical condition of the assets. See note 7 for the carrying amount of the property, plant and equipment, and note g for the useful economic lives for each class of assets.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

a INCOME

	2024	2023
	£	£
Grants received forcharity's activities (Unrestricted)	716,270	651,340
Rental income (Unrestricted)	F	-
Restricted donations (note 2.1)	918,131	3,098,821
Contributions to events (Unrestricted)	33,612	20,484
Otherincome (Unrestricted)	-	1,732
	~~1,668,013~~	~~3,772,377~~
2.1 Income— Restricted donations
	2024	2023
	£	£
Berkeley	73,758	1,724,983
UCLA	832,924	1,341,600
Davis	§25	852
Santa Barbara	2,199	5,001
Santa Cruz	427	153
San Diego	7,331	25,336
Irvine	494	420
Riverside	469	866
UC San Francisco	2	10
Merced	2	-
	918,131	3,099,221
Scholarship and grants	-	:
MelanieWoiwode Memorial	-	-
London Grants Program	-	{400}
	918,131	3,098,821

2.1 Income — Restricted donations

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

3. EXPENDITURE

==> picture [415 x 476] intentionally omitted <==

----- Start of picture text -----
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |2024|2023| |£|£| |Charitable|Expenditure:| |Donations|to|University|of California|(restricted)|917,954|3,102,438| |Travelling|Expenses|59,215|57,751| |Scholarships and|Grants|(restricted)|me|2| |977,169|3,160,189| |Support|costs:| |Rent|and|rates|35,100|40,851| |Salaries and|pensions|(note|6)|546,249|346,456| |Other premises costs|1,461|10,221| |(Gain}/Loss on|foreign|exchange|5,162|(7,514)| |Depreciation|on|tangible|fixed|assets|-|444| |General|administration|costs|17,319|55,891| |605,291|446,349| |Fundraising|costs:| |Fundraising|15,761|10,773| |Receptions|and events|(unrestricted)|93,060|71,742| |Subscriptions|4,333|3,985| |113,154|86.500| |Governance|costs:| |Audit fees|(note|4)|9,108|8,280| |Professional|and|accountancy|fees|7,288|7,191| |Companies|House|filing|fees|<62| |16,409|15,484| |Total|1,712,023|3,708,522| |4.|Auditor’s|remuneration| |Total|Total| |2024|2023| |£|£| |Audit|fee|9.108|8,280| |«9108|—~—~—S—C~*=|2B| |(Over)|/ under accrual|{Including|VAT|not|claimable}|-|-| |9,108|8,280| |5.|TRUSTEES’|REMENERATION|AND|BENEFITS| |None|of the|trustees|received|any|remuneration|in|the|year|(2023:|£nil)|

----- End of picture text -----

Trustees’ expenses

Total expenses reimbursed during the year was Enil (2023: Enil) other than as detailed in note 12.

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

STAFF COSTS

	Total	Total
	2024	2023
	£	£
Total staffemoluments forthe yearwere as follows
Wages and salaries	457,098	293,955
Social security costs	49,787	28,781
Pension contribution	~~39,364~~	~~23,720~~
	546,249	346,456

One employee’s emoluments fell within the band £70,001 - £80,000 (2023: nil). One employee's emoluments fell within the band £80,001 - £90,000 (2023: one within £80,001 - £90,000). One employee's emoluments fell within the band £120,001 - £130,000 (2023: nil). Pension contributions are made on behalf of the employees into a third-party pension scheme. Pension contributions totalling £39,364 (2023; £23,720) were made into a third-party pension scheme.

Number of employees The average monthly number of employees, during the year was:

2024 2023

Administration 7 5

The key management of the charity is the Executive Director, as per page 2 of the financial statements. The total employee benefits of the key management personnel were £109,265 (2023: £132,027).

7 TANGIBLE FIXED ASSETS

		Fixtures,
	Computer	Fittings&
	Equipment	Equipment	Total
	£	£	£
Cost or valuation
1 July 2023	6.791	59.823	66,614
Additions	~~:~~	~~-~~	~~~~~
30 June 2024	6,791	59,823	66,614
Depreciation
4 July2023	6.791	59.823	66.614
Chargefortheyear	~~-~~	~~:~~	-
30 June 2024	6.791	59.823	66,614
Net Book Value
30 June 2024	:	-	:
30June2023	:	-	-

The net book value at 30 June 2024 represents fixed assets used for management and administration of the charity.

UNIVERSITY OF CALIFORNIA TRUST (UK) {LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

8.	DEBTORS
		Total	Total
		2024	2023
		£	£
Otherdebtors		.	-
Prepayments and accrued income		:	-
GiftAid		-	-
VAT		=	=

9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		Total	Total
		2024	2023
		£	£
Trade Creditors		407	18
Othertaxation and social security		20,028	18,346
Accruals and deferred income		9,117	8,280
Othercreditors		2,099	9,977
		31,651	36,621
10.	OPERATING LEASE COMMITMENTS
	At the 16 April2024 the charity had one yearcommitment as follows:
		2024	2023
		£	£
Less	than oneyear	16,500	17,400
Two to five years
More	than five years	~~-~~	~~-~~
		16,500	17,400

ULTIMATE CONTROLLING PARTY

The ultimate parent entity is the University of California, a not-for-profit entity based in the United States.

12, RELATED PARTY TRANSACTIONS During the year, University of California Trust UK received total grants from University of California Office of the President (UCOP) of £716,270 during the year (2023: £651,340).

During the year, the University of California, Los Angeles (‘UCLA’) utilised space in the Trust offices to advance the objects of the Trust. Rent amounts of £7,536 (2023: £7,233) and operating expenses of £182,018 (2023: £118,474) were incurred. These costs are covered via the grant received from UCOP above.

During the year, the University of California, San Diego (‘UCSD’) utilised space in the Trust offices to advance the objects of the Trust. Rent amounts of £5,704 (2023: £7,578) and operating expenses of £94,023 (2023: £88,740) were incurred. These costs are covered via the grant received from UCOP above.

During the year, grants totalling £3,102,438 (2023: £3,102,438) were transferred to ten different campuses of the University of California as follows (the grants awarded to the Universities include minor foreign exchange differences); £73,629 was transferred to University of California Berkeley (2023: £1,729,369) ; £832,119 was transferred to University of California Los Angeles (2023: £1,342,342) ; £576 was transferred to University of California Davis (2023: £848); £3,630 was transferred to University of California Santa Barbara (2023: £3,291); £6,545 was transferred to University of California San Diego (2023: £25,213); £419 was transferred to University of California Santa Cruz (2023: £153); £498 was transferred to University of California Irvine (2023: £416); £526 was transferred to University of California Riverside (2023: £806) ); £12 was transferred to University of San Francisco (2023: £0) ); £2 was transferred to University of California Merced (2023: £0).

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

13. Analysis of Net Assets between Funds

	Tangible Fixed Assets	Tangible Fixed Assets	NetCurrentAssets	NetCurrentAssets	Total
			£	£		£
Restricted Funds			-	177	177
Unrestricted General Funds			-	46,225	46,225
Total Funds			-	46,402	46,402
14. Restricted Funds — US
The University of California	Trust (UK) receives donations for designated campuses of the					the
University of California (i.e.	restricted donations) and		these are passed on to the		University	of
California Office ofthe President as grants.
	ae	Income	Expenditure	Transfer eereeen unds	, .ao
Berkeley
Study abroad general supportfund	-	2,967	(3,050)	(83)		-
Haas School of Business -
Scholarships	-	-	(63)	{63)		-
Human Mortality Database Library	- "	39,518 63	(39,232) (59)	286 4		- °
School ofLaw	-	996	(994)	2		-
CAL Fund Fx0222000	-	62	(59)	3		-
Sustainability Initiatives	-	40	(60)	(20)		:
Professor William Boos Graduate
Student Support Fund (FN7641000)	-	29.509	(29,509)	-		:
Haas Dean's Initiatives Fund	~~-~~	~~603~~	~~(603)~~	~~:~~		~~:~~
	~~-~~	73.758	(73.629)	~~129~~		~~-~~
UCLA
UK Undergraduate StudyAbroad
Scholarship Fund - 313070	.	4,425	(6.111)	(1,686)		-
Department of Linguistics - 53440	-	-	(12)	(12)		.
DepartmentofMusicology -607240	-	763	(775)	(12)		-
Anderson School ofManagement	.	267	(267)	=		:
GSEIS Dean's Scholars Fund -
304050	-	15	(28)	(13)		-
Medical Research	-	193	(193)	*		-
Sustainability Initiatives	-	5	(5)	-		"
Departmentof History at UCLA -
Medieval and European Faculty
SupportFund	-	787,464	(784,929)	2,535		-
The Center for Middle East
Development - Conference Fund	-	39,300	(39.300)	.		.
Division of Undergraduate
Education-Dean'sDiscretionary&
Scholarship Fund 50752C	-	461	(428)	33		:
Law European Scholarship Fund for
LLM Students Fund47121	-	10	(10)	.		-
StudyAbroad - European
Undergraduate Scholarships
31506C	:	14	(44)	(30)		-
TheAnderson Fund 50122C	-	2	(12)	(10)		-
Anderson Affiliates60045C	~~.~~	~~5~~	~~(5)~~	~~a~~		~~-~~
	~~-~~	~~832,924~~	{832,119}	~~805~~		~~-~~

Restricted Funds — US

The University of California Trust (UK) receives donations for designated campuses of the University of California (i.e. restricted donations) and these are passed on to the University of California Office of the President as grants.

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

UC Davis
Study abroad	-	480	(531)	(51)	-
Sustainability Initiatives	~~-~~	~~45~~	~~(45)~~	~~=~~
	-	525	(576)	(51~~)~~	~~-~~
Santa Barbara
UK DonorGroup ~ 30343	-	2,064	(3,497)	(1,433)	-
Area ofGreatestNeedA25000	~~-~~	~~135~~	~~(133)~~	~~2~~	~~-~~
	~~-~~	~~2,199~~	~~(3,630)~~	~~(1,431)~~	~~-~~
Santa Cruz -Study Abroad Fund -
INOO3F	~~-~~	~~427~~	~~(419)~~	~~8~~	~~-~~
San Diego
UK Alumni Education Abroad
Program Scholarship - F2728	-	4,691	(4,632)	59	-
Alumni Services	-	1,456	(728)	728	-
Sustainability Initiatives	-	79	(79)	:	<
SeadragonSearch Community
Science Project E6734	-	1,100	(1,100)	-
LGBT Initiatives	~~-~~	~~5~~	~~(5)~~	~~-~~
	~~=~~	~~7,331~~	~~6,544~~	~~787~~	~~-~~
Irvine -StudyAbroad	~~5~~	~~494~~	~~(498)~~	~~(4)~~	~~=~~
Riverside					=
Education Abroad Program —
200229	~~:~~	~~469~~	~~(526)~~	~~(57)~~
UC San Francisco	~~-~~	~~2~~	~~(12)~~	~~(10)~~
UC Merced	~~-~~	~~2~~	~~(2)~~	~~:~~
	~~-~~	~~918,131~~	~~(917,954)~~	~~177~~	~~-~~

15. Restricted Funds — Others

The University of California Trust (UK) also receives donations for its scholarship programs in the United Kingdom, namely the Allan Buch and Melanie Woiwode Memorial Scholarship Funds. These are retained in the UK and disbursed to students on the University of California Education Abroad Program.

Abroad Program.
	Brought Forward		ame	, Expeodiniee	Transfer funds	to	Carried Forward
Scholarship Funds
Scholarship and grants		-	-	*		.		7
Melanie Woiwode Memorial		7	-	.		-		-
London Grants Program		~~=~~	~~-~~	~~-~~		~~=~~		~~=~~
Other Income — Restricted		-	-	-		-		-

TotalRestrictedmovements		-	$18,131	(917,954)	~~~~~~	177 .		-—

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

16, Reconciliation of net income to net cash flow from operating activities

				2024	2023
				£	£
Net income / (expenditure) foryear				(44,011)	63,855
Depreciation oftangible fixed assets				-	444
(Increase) /decrease in debtors				-	-
Increase / (decrease) in creditors				(4.970)	19,727
Netcash flowfrom operating activities				(48,981)	~~84,026~~
17. StatementofFinancial activities (Previous year).
		Unrestricted funds	Restricted funds	Total	Total
	Note	2023	2023	2023	2022
		£	£	£	£
MOTEL]ENOCISSAGRENITES1S generating funds	2	673.556	3,098,821	3.772.377	—‘1.427,850
Total Incoming Resources		673,556	3,098,821	3,772,377	1,427 850
Resources Expended
Total Resources Expended	3	606,084	3,102,438	3,708,522	1,447.736
NetResources Retained		67,472	(3.617)	63,855	(19,886)
Funds at 1stJuly 2022		26,558	-	26,558	46,444
Transferbetween funds		(3,617)	3,617
Fundsat30thJune2023	13	90,413	-	90.413	26,558

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

18. Restricted Funds — US (Previous year)

==> picture [426 x 530] intentionally omitted <==

----- Start of picture text -----
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |e|[des]|[lis]|Income|Expenditure|Transferbetween|Carried.| |orward|finde|Forward| |Berkeley| |Study|abroad|general|support|fund|-|1,690|{1,222)|468|-| |Fund|for|International|House|-|325|(375)|{50)|-| |Haas|School|of Business|- Scholarships|-|687|(625)|62|-| |Human|Mortality|Database|-|71,702|(71,324)|378|-| |Library|-|66|(62)|4|-| |Schoot|of Law|-|938|(913)|25|-| |Center|for Human|Compatible Al|(CHAI)|-| |FN3330|-|63,844|(62,825)|1,019|-| |Quarterly|Featured|Funds|-|3|(3)|-|-| |Goldman|School|of|Public|Policy|-|1,585,552|(1,591,876)|(6,324)|-| |Sustainability|Initiatives|-|410|(81)|29|:| |-|1,724,983|(1,729,369)|(4,386)|:| |UCLA| |UK|Undergraduate|Study Abroad|Scholarship| |Fund|- 313070|-|18,383|(16.606)|1,777|-| |Department|of|Linguistics|- 53440|-|62|{50}|12|-| |Department|of|Musicology|- 607240|-|1,550|(1,425)|125|-| |Library|-|415,395|(413,462)|1,933|-| |Anderson School|of Management|-|278|(278)|Ps|‘| |GSEIS|Dean's Scholars|Fund|- 304050|-|155|(142)|13|-| |UCLA Grand|Challenge|-|495|(700)|(205)|-| |Medical|Research|-|82.048|(80,336)|1.712|-| |Sustainability|Initiatives|-|19|(19)|-|-| |Quarterly|Featured|Funds|-|419|(119)|-|-| |Department|of|History|at UCLA -Medieval|and| |European|Faculty|Support|Fund|.|:|823.096|{829,205}|(6.109)|-| |UC|Davis| |Study|abroad|-|799|(805)|(6)|-| |Quarterly|Featured|Funds|-|10|-|10|-| |Sustainability|Initiatives|:|43|(43)|.|:| |-|852|(848)|4|-| |Santa|Barbara| |UK|Donor Group|-|30343|-|4.818|(3,115)|1,703|-| |Area|of Greatest Need A25000|-|154|(147)|F|-| |Quarterly|Featured|Funds|-|5|(5)|-|-| |Sustainability|Initiatives|;|-|_24-|(24)|:|-| |Santa|Cruz|- Study|Abroad|Fund|- ING03F|-|153|(153)|-|-|

----- End of picture text -----

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

==> picture [424 x 273] intentionally omitted <==

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |San|Diego| |UK Alumni|Education Abroad|Program| |Scholarship|-|F2728|-|8,704|(8,573)|131|-| |Diversity Award|for|Undergraduate| |Endowment|K4075|-|33|(33)|-|-| |Quarterly|Featured|Funds|=|58|(58)|=|-| |Alumni|Services|‘|938|(938)|3|r| |Athletics|:|10.286|(10,291)|(5)|-| |The|Basement Accelerator|Innovation|Fund|.|5.143|{5,146)|(3)|.| |School|of Global|Policy|and|Strategy|-|150|(150)|-|-| |Women's|fund|number (4969)|=|24|(24|}|-|Z| |-|25.|336|(25,213)|123|-| |Irvine|- Study Abroad|a|420|(416)|4|-| |Riverside|=| |Education Abroad|Program|- 200229|=|866|(796)|70|-| |Environmental|and|Sustainability|Research| |Endowment|Fund|-|-|(10|)|(10)|.| |-|866|(806)|60|-| |UC|San|Francisco|-|10|-|10|-| |-|3,099,221|(3,102,438)|(3,27)|:|

----- End of picture text -----

19. Restricted Funds — Others (Previous year)

The University of California Frust (UK) also receives donations for its scholarship programs in the United Kingdom, namely the Allan Buch and Melanie Weiwode Memorial Scholarship Funds. These are retained in the UK and disbursed to students on the University of California Education Abroad Program.

==> picture [404 x 150] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Brought|7|Transfer|Carried| |Forward|Income;|Expandituce|tofunds|Forward| |Scholarship|Funds| |Scholarship|and|grants|-|-|5|*|-| |Melanie|Woiwode|Memorial|-|-|-|-|-| |London|Grants Program|-|(400) |=|(400)|e| |-|400|-|400|-| |Other|Income|—|Restricted|-|-|-|-|-| |Total|Restricted movements|——--3,098,821|(3,102,438)|_(3,617)|-|

----- End of picture text -----

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

APPENDICES YEAR ENDED 30 JUNE 2024

Appendix 1 — Student Support Activities

a) Study Abroad Programs created by the University of California Trust (UK) in partnership with University of California campuses

2008 UC Berkeley/International House - Gateway Fund (Inbound - for African students to study at UC Berkeley)
2009 Allan Buch Memorial Scholarship Fund (Outbound - for UC Berkeley students to study at the University of East Anglia)
UEA/UC Berkeley (Inbound — for UEA students to study at UC Berkeley)
2010 UCLA —Fund for Study Abroad in Germany (Outbound - for UCLA students to study at Freie University, Berlin)
2011 UC Santa Barbara — London Ambassadors Program (Outbound - for UC Santa Barbara students to study on EAP at participating British universities)
2014 UC Davis (Outbound - for UC Davis students on Study Abroad programs in the United Kingdom) (Inbound - for British students to study at UC Davis) UCLA

(Outbound - for UCLA students on Study Abroad programs in the United Kingdom) (Inbound - for Postgraduate British students to study at UCLA) 2015 UC San Diego (Outbound - for UCSD students on Study Abroad programs in the United Kingdom) 2016 UCLA (Outbound - for UCLA students on Study Abroad programs in Continental Europe) 2019 UC Davis (Outbound - for UC Davis students on Study Abroad programs in the United Kingdom) 2021 UCLA {Inbound for graduate students to undertake research into the work of Oscar Wilde at UCLA)

2023 UCLA (Outbound — Study Abroad Program Scholarship program for UCLA students to attend the Bradford Literature Festival)

b) Enrichment Programs created by the University of California Trust (UK) in partnership with the Education Abroad Program (since 2008)

» Academic Curriculum Extras (ACE) > Melanie Woiwode Scholarship Fund > Student Travel Awards
Student Tickets
Student Mentorship Program > Student Career Evenings

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

APPENDICES YEAR ENDED 30 JUNE 2024

Appendix 2 — Fundraising Activities

a) Donor Count by Campus (2019-2024)

==> picture [377 x 371] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Berkeley|—||36||23|44|51|85| |Davis|12|10|6|7|21| |Irvine|3|3|3|§|15| |Los Angeles:||380|34|55|47|47| |Merced|-|-|-|-|1| |Riverside||:|3|7|¢|3|4| |San|Diego|11|8|41|46|72| |San|Francisco|1|1|4|1|1| |Santa|Barbara|10|8|18|19|23| |Santa|Cruz|1|3|-|1|9| |Restricted|Donations|to the the|University|of California California|Campuses|(Gift Count) Count)| |Berkeley|91|86|133|151|139|600| |Davis|64|5|=o|(ssi|té‘<‘|é‘iSdYSC*i‘CCO| |Irvine|3|5|7|Ps|22|44| |Los|Angeles|246|230|270|252|146|1114| |Merced|-|-|-|-|1|4| |Riverside|29|49|36|31|31|176| |San|Diego|45|62|92|86=—o5——(i‘;:é«SN 32|446| |Santa|Barbara|60|69|107|93|76|405| |Santa|Cruz|2|8|4|4|14| |[Annual|Tolar|—«naB COC||CC|

----- End of picture text -----

b) Restricted Donations to the the University of California California Campuses (Gift Count) Count)

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

APPENDICES YEAR ENDED 30 JUNE 2024

c) Direct Income to the University of California Campuses (Restricted Income)

|~~[campus|~~|~~|z0ts-20|~~|~~|zozo-2t|~~|~~|ozt-22|~~|~~|202223|~~|~~|zoasee|~~|~~|Setar~~
Total
|| |---|---|---|---|---|---|---| |~~[campus |~~
~~Berkeley~~
~~Davis~~|~~| z0ts-20 |~~
~~£117,809 |~~
~~¢1095|~~|~~| zozo-2t |~~
~~| £135,760 |~~
~~|£692|~~|~~| ozt-22 |~~
~~|~~ £164,331 |
~~|~~
~~£1,226~~|~~| 202223 |~~
| £1,724,983|
~~£852~~|~~| zoasee |~~
£73,758 |
~~£526~~
~~|~~|~~| Setar~~
| £2,216,641
|
~~£4,291~~
~~|~~| |~~Davis~~|~~¢1095|~~|~~|£692|~~||~~£852~~
|
£420
~~|£1,341,600|~~|~~£526~~
~~|~~|~~£4,291~~
~~|~~| |~~Davis~~
~~Irvine~~
~~LosAngeles|~~|~~¢1095 |~~
£25
~~|£243,126|~~|~~| £692 |~~
£8
~~|£190,303|~~|~~|~~
~~£1,226~~
£688
~~|£846,480|~~||~~£526~~
~~|~~
£494
~~|£832,924|~~|~~£4,291~~
~~|~~
£1,635
~~||~~| |~~Irvine~~
~~LosAngeles|~~
~~Riverside~~||£8
~~|£190,303|~~|£688
~~|£846,480|~~||
£420
~~|£1,341,600|~~|£494
~~|£832,924|~~
~~)~~
~~£2~~
~~|~~|£1,635
~~|~~£3,454,433~~|~~
~~|ga~~| |~~LosAngeles |~~
Merced
~~Riverside~~|~~|£243,126 |~~
LL
£~~203|~~|~~| £190,303 |~~
~~|~~
~~£200|~~|~~| £846,480 |~~
~~|~~
~~£1,937~~
~~|~~|~~| £1,341,600 |~~
~~£866~~|~~| £832,924 |~~
~~)~~
~~£2~~
~~|~~
~~e469~~
~~|~~|~~|~~£3,454,433~~|~~
~~|ga~~
~~£3,675|~~| |~~Riverside~~|£~~203 |~~
|
£900 ~~|~~
|
~~£0~~
~~£1,214|~~|~~|~~
~~£200|~~|~~|~~
~~£1,937~~
~~|~~|~~£866~~|~~)~~
~~£2~~
~~|~~
~~e469~~
~~|~~|~~|ga~~
~~£3,675|~~| |~~Riverside~~
~~SanDiego~~||~~|~~
~~£200 |~~
~~|£1,350|~~|~~|~~
~~£1,937~~
~~|~~
~~| £4,653 |~~
~~£0~~
~~|£3,677|~~|~~£866~~
~~|£25,336|~~|~~)~~
~~£2~~
~~|~~
~~e469~~
~~|~~
~~|~~
~~£7,332~~|~~| ga~~
~~£3,675|~~| |San Francisco||~~| £1,350 |~~
~~£0~~
~~|£1,137|~~||~~| £25,336 |~~
~~£10~~
~~|~~
~~£5,001~~
~~|~~|~~|~~
~~£7,332~~
~~£2~~
~~|~~
~~£2,199~~
~~|~~|~~an|~~
~~£13,228|~~| |SantaBarbara
~~eS~~|~~£0~~
|
~~£1,214|~~
~~ase[neon~~|~~£0~~
~~|£1,137|~~
~~[neon[ever~~|~~£0~~
~~|£3,677|~~
~~[ever[nar~~|~~£10~~
~~|~~
~~£5,001~~
~~|~~
~~[nar oS~~|~~£2~~
~~|~~
~~£2,199~~
~~|~~
~~oS~~|~~an |~~
~~£13,228|~~
~~oS~~| |Santa Cruz
~~eS~~|~~£1,214 |~~
£10
~~ase[neon~~|~~| £1,137 |~~
£35
~~[neon[ever~~|~~| £3,677 |~~
£105
~~[ever[nar~~|~~|~~
~~£5,001~~
~~|~~
£153
~~[nar oS~~|~~|~~
~~£2,199~~
~~|~~
£427
~~oS~~|~~£13,228|~~
£730
~~oS~~| |~~eS~~|~~ase[neon~~|~~[neon[ever~~|~~[ever[nar~~|~~[nar oS~~|~~oS~~||

d) National Philanthropic Trust (NPT) and CAF North American Donor Fund (CADF) income

|[Cam~~pus __~~|
Berkeley
~~Davis~~
~~Los Angeles~~
~~=~~|| ~~2019-20 |~~
~~$52,000|~~
~~$12,500|~~
~~G8~~|~~|2020-21|~~
~~G8~~|~~|2021-22|~~
$18,000
|~~|2022-23|~~
~~-e~~|~~|2023-24|~~
$18,000|
~~-e~~|~~|Total|~~
|$36,000
~~-e~~| |---|---|---|---|---|---|---| |||~~| 2020-21 |~~
~~|$15,000|~~
~~|$23,752~~
~~G8~~|~~| 2021-22 |~~
$18,000
~~|$12,000~~
|~~| 2022-23 |~~
~~~$10,000~~
~~|~~
~~-e~~|~~| 2023-24 |~~
$18,000 |
~~$10,000|~~
~~-e~~|~~| Total |~~
| $36,000
~~$79,000~~
~~|$56,252~~
~~-e~~| |~~Davis~~
~~Los Angeles~~
~~=~~|~~$52,000 |~~
~~$12,500 |~~
~~G8~~
~~$10,000|~~|~~| $15,000 |~~
~~|$23,752~~
~~G8~~|~~| $12,000~~
|~~~$10,000~~
~~|~~
~~-e~~|~~$10,000|~~
~~-e~~|~~$79,000~~
~~|$56,252~~
~~-e~~| |~~Los Angeles~~
~~=~~||~~| $23,752~~
~~G8~~
~~|$100,000|~~|~~|$4,110,000|~~|~~~ $10,000~~
~~|~~
~~-e~~
~~|~~|~~$10,000 |~~
~~-e~~|~~| $56,252~~
~~-e~~
~~$4,220,000~~| |~~=~~
San Francisco|~~G8~~
|
~~$10,000|~~|~~G8~~
~~|$100,000|~~|~~|$4,110,000|~~|~~-e~~
~~|~~|~~-e~~|~~-e~~
~~$4,220,000~~| |~~=~~
Santa Barbara
|
Santa Cruz
~~[AnnualIncome_|~~|~~G8~~
~~$10,000 |~~
|
$3,099
$496
~~|$319,258|~~|~~G8~~
~~| $100,000 |~~
~~|$386,628~~|~~| $4,110,000|~~
~~|$186,652|~~|~~-e~~
~~|~~
~~|$10,000|~~|~~-e~~
~~|$29,000|~~|~~-e~~
~~$4,220,000~~
$3,099
$496
~~|$4,752.280|~~| |~~= ~~
~~[AnnualIncome|~~|~~G8~~
~~_|$319,258|~~|~~G8 ~~
~~|$386,628~~|
~~|$186,652|~~|~~-e~~
~~|$10,000|~~|~~-e~~
~~|$29,000|~~|~~-e~~
~~|$4,752.280|~~|

APPENDICES YEAR ENDED 30 JUNE 2024

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

e) Campus Units Supported

Berkeley /	/ UCLA ~~;~~ ~~=o~~ ~~a:~~
Study abroad general supportfund School ~~ofBusiness~~-~~Scholarships~~ ~~Human~~	UK Undergraduate StudyAbroad Scholarship ~~Department~~ofLinguistics ~~=»~~ =
School ~~ofBusiness~~-~~Scholarships~~ ~~Human~~ Mortality~~Database~~ -	~~Department~~ Library
~~ofBusiness~~ - ~~Scholarships~~ ~~Human~~ Mortality~~Database~~ -	~~Department~~ Library
Mortality ~~Database~~ -	~~Department~~ Library
School ofLaw CALFundFx0222000 ~~	~~
CAL FundFx0222000 ~~	~~ SustainabilityInitiatives
Sustainability Initiatives ProfessorWilliamBoosGraduateStudent	Sustainability Initiatives Departmentof
Professor William Boos Graduate Student Support Fund (FN7641000)	Haas Dean's Initiatives Fund


Study Abroad

	UK DonorGroup - 30343
	San Diego” ~~ai~~
UKAlumni Education Abroad Program Scholarship ~~Alumni Services~~ ~~oe~~ SustainabilityInitiatives ~~SeadragonSearchCommunityScienceProject re~~
	~~oea~~ ~~osea~~ StudyAbroad ~~re~~
~~Alumni Services~~ ~~oe~~ Sustainability Initiatives ~~SeadragonSearchCommunityScienceProject re~~ E6734	~~oe a~~ ~~os ea~~ Study Abroad ~~re~~
~~SeadragonSearch Community Science Project re~~ LGBT Initiatives	~~re~~ SantaCruz i


	~~
~~SCS~~	~~CS~~ ~~StyBPO~~
~~SCS~~	~~CS~~ ~~StyBPO~~

2024-06-30-accounts

UNIVERSITY OF CALIFORNIA TRUST (UK} (LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES YEAR ENDED 30 JUNE 2024

CONTENTS

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

Trustees and Directors

Key Management

Principal Address

Banker

Solicitor

Auditor

Organisational Structure and Governing Document

Appointment of Trustees

Trustee induction and training

Risk management

Objects and Activities

Management Team

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES YEAR ENDED 30 JUNE 2024

2023-24 Achievements & Performance

Plans for 2024-25

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES YEAR ENDED 30 JUNE 2024

Financial review

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES YEAR ENDED 30 JUNE 2024

2. Restricted Donations to University of California Trust for expenditure in the UK

There were no direct donations to the University of California for expenditure in the UK.

Investment policy

Reserves policy

Tax status

UNIVERSITY OF CALIFORNIA TRUST (UK} {LIMITED BY GUARANTEE)

Trustees’ responsibilities statement

Auditors

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITOR YEAR ENDED 30 JUNE 2024

Independent auditor’s report to the members of University of California Trust (UK)

Opinion

Basis for opinion

Conclusions relating to going concern

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

REPORT OF THE INDEPENDENT AUDITOR YEAR ENDED 30 JUNE 2024

Opinions on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

Responsibilities of trustees

Auditor’s responsibilities for the audit of the financial statements

14 February 2025

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

STATEMENTS OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) YEAR ENDED 30 JUNE 2024

UNIVERSITY OF CALIFORNIA TRUST (UK) {LIMITED BY GUARANTEE)

BALANCE SHEET YEAR ENDED 30 JUNE 2024

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

CASHFLOW STATEMENT YEAR ENDED 30 JUNE 2024

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

Preparation of the accounts on a going concern basis

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

(f} Expenditure

(g) Tangible fixed assets

(m) Cash at bank and in hand

Useful economic lives of tangible assets

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

a INCOME

2.1 Income — Restricted donations

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

3. EXPENDITURE

Trustees’ expenses

2024 2023

7 TANGIBLE FIXED ASSETS

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

13. Analysis of Net Assets between Funds

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

15. Restricted Funds — Others

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2024

16, Reconciliation of net income to net cash flow from operating activities

18. Restricted Funds — US (Previous year)

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)

19. Restricted Funds — Others (Previous year)

Appendix 1 — Student Support Activities

UNIVERSITY OF CALIFORNIA TRUST (UK) (LIMITED BY GUARANTEE)