ilc... International Longevity Centre UK International Longevity Centre UK A company limited by guarantee Report and financial statements for the year ended 31 March 2025 Company NO3798902 Charity N. 1080496
Internatlonal Longevity Centre UK Flnancial Statements for year ended 31 March 2025 Index to the report of the Trustees and financial statements for the year ended 31 March 2025 Page Charity Information Report of the Trustees Independent Auditors, Report Consolidated Statement of Financial Activities 3-12 13-16 17 18 Consolidated Balance Sheet 19 statement of Cash Flows and Consolidated Statement of Cash Flows 20-30 Notes to the Financial Statements
International Longevity Centre UK Flnanclal Statements for year ended 31 March 2025 CHARITY INFORMATION The Trustees are pleased to present their report together with the consolidated financial statements of the charity for the year ended 31 March 2025 COMPANY NUMBER 3798902 CHARITY NUMB.ER 1080496 PRINCIPAL OFFICE & REGISTERED OFFICE The Foundry, 17 OvaL Way. London, SEII 5RR DIRECTORS The directors of the charitable company (the charity) are its Trustees for the purposes of charity law and throughout this report are coLLectively referred to as the Trustees. The Trustees serving during the year and since the year-end were as follows.. S Chhugani (Treasurer) A Oxlade - appointed 31 Oct 24 L Churchill - appointed 30 Oct 2024 as Trustee. H Panzarino appointed 5 Feb 2025 as Chair S Crawford - resigned 30 Jun 2024 A Evans G Ryland A Scarfe Y Sonsino - appointed 31 Oct 24 J Sutherland T Fassam P Green P Vandenbroucke J Jackson N Waterson Ichairl - resigned 5 Feb 2024 S Lewis The Trustees have no beneficial interest in the company and are not remunerated. AIL Trustees are members of the company and guarantee to contribute to the assets of the company in the event of it being wound up such amounts as may be required not exceeding £10. CHIEF EXECUTIVE D A Sinclair BANKERS CAF Bank Ltd 25 Kings HILL Avenue Kings Hill, West MaLling Kent ME19 4JQ AUDITORS Nyman Libson PauL LLP 124 FinchLey Road London, NW3 5JS
Internatlonal Longevity Centre UK Financlal Statements for year ended 31 March 2025 REPORT OF THE TRUSTEES Objectives and Activities Public benefit In reviewing our objectives and activities, the Trustees have kept in mind the Charity Commission guidance on pubLic benefit. Why we exist The International Longevity Centre UK (ILC-UK. ILCI is the UK'S leading authority on the impact of Longevity on society. We combine evidence. solutions and networks to make change happen. We help governments, policymakers, businesses and empLoyers develop and impLement solutions to ensure we alL live happier. heaLthier and more fuLfilling Longer lives. We want a society where we aLI Live happier, healthier and more fuLfilling Longer lives, where tomorrow is better than today and where future generations are better off. ILC wants to help forge a new vision for the ioo-year Life where we alL have the opportunity to Learn across our Lives and where new technology helps us contribute more to society. Who we are The ILC was estabLished in 1997, as one of the founding members of an internationaL network on Longevity. We have unrivaLLed expertise in demographic change. ageing and Longevity. This is our 28th year and we are proud to be abLe to demonstrate our own Longevity. The ILC has 12 staff including researchers who also work with externaL consultants. We also have a Strategic Advisory Board along with a panel of Insight Experts, made up of world-renowned thought Leaders and experts from government, business, academia and the third sector on the many strands of longevity. What we do We transform research into poLicy and business practice. Our activities incLude conducting research.. collaborating with experts and industry leaders., policy analysis.. and convening decision-makers, pLanners, policy-makers and innovators. Our events include seminars, presentations, conferences and workshops.
Internatlonal Longevlty Centre UK Flnanclal Statements for year ended 31 March 2025 Achievements and performance Building greater understanding We are experts on longevity, healthy ageing and planning for the future. Throughout the year, our expertise has been sought across the UK and gLobally. spanning topics from heaLth and intergenerational relations to climate and lifeLong Learning. We used our Route Map for Long Lives to engage policymakers and civil servants in the run-up to the General Election and Launched the second wave of our Health A ein and Prevention Index - now enabling pre- and post-COVlD comparisons. This has further cemented the tool's credibility. helping us secure funding for deep-dive projects on topics such as severe mental health and universaL heaLth coverage in lower-middle-income countries. UK-based stakehoLders have aLso approached us to explore replicating the Index regionaLIy. We've been invited to share our insights at high-profile national and internationaL events.. At the World Economic Forum event during the UN General Assembly, we made the economic case for adapting to the ioo-year life. We co-chaired a session at the GlobaL Coalition on Ageing's SiLver Economy Summit with Andy Burnham At the British Embassy in Turkey. we presented on preventative heaLth to over loo policymakers and business leaders, with the Ambassador praising our work. Saying the right things We bring together evidence in new and compelling ways Our chalLenging and solutions-focused stance continues to resonate. with significant press coverage in the UK and across the world. Our work on the state pension age, for instance, was wideLy covered in nationaL and international media - in March 2025 alone, reaching an estimated 10.6 million peopLe. We have appeared on TalkTV's Soapbox. BBC'S The One Show, and our research has featured on Channel 4 News. As dissemination and engagement partner on the muLti-year PriDem project on dementia care. we produced a "fact pack" summarising key findings and policy recommendations. This is now being used by the Alzheimer's Society as a single point of truth" on the topic. We're focusing on the right areas-and it's resonating Guided by our strategy, we've invested in more futures-focused work. Our report. supported by BrightweLI, on how government and services must adapt over the next 20 years has chaLlenged assumptions and deLivered bold recommendations. It has been described as a weLL-informed and stimulating read" and 'packed full of things to think about.: Our events are engaging and a way for us to build relationships Our tenth annuaL Future of Ageing conference was sold out and highly rated by attendees and speakers. Keynote speaker Andy Burnham shared Greater Manchester's 'whoLe person, approach to ageing. Sponsors included UCL, the Institute and FacuLty of Actuaries, Travers Smith, and Home Instead. "A breath of fresh air compared to other conferences... will sponsor ILC again." "Never a dull moment... so much to Learn." Attendee "WonderfuL conversations... Learned a lot. Speaker Funder
International Longevlty Centre UK Flnancial Statements for year ended 31 March 2025 Engaging the right people We continue to build relationships with key UK policymakers and engage in key pollcy debates We continue to hold face-to-face meetings with key Parliamentarians across the Commons and Lords. and regularly meet with civil servants in the Treasury, DWP and DHSC. We remain active in the APPG on OLder People and Housing. advocating for intergenerational design in new housing developments. We heLd the second Greengross Lecture, delivered by Professor David Halpern. and.attended by Parliamentarians including Debbie Abrahams MP, Baroness Altmann. and Baroness Hayter. We've also buiLt links with metro mayors and local government officiaLs, including Andy Burnham and Richard Parker. We held our third Retirement Income Summit featuring Stephen Timms MP, Chair of the DWP SeLect Committee, deLivering a keynote address on the day of the Labour Party's manifesto launch, and bringing together key stakeholders across the industry, reguLators and the civiL service. We are engaging key International players around the need to act on supporting healthy agelng Launching the second wave of our HeaLthy Ageing and Prevention Index at the 77th WorLd HeaLth AssembLy, featuring speakers including the Italian Health Minister and representatives from the WHO, WorLd Economic Forum and the World Federation of PubLic HeaLth Associations. We hosted three events alongside the UN General AssembLy on gLobaL ageing. mentaL heaLth. and HIV. We were aLso accepted as a Civil Society representative to the World Bank/lMF Spring Meetings. At the G7 HeaLth Ministers, meeting in Ancona, we heLd a side-event with Italian Longevity experts and the British High Commission. We have been growing our relationships, particuLarLy with European stakeholders - through our ILC Europe network- and East Asia. We hosted a joint event with the British Embassy in Beijing. buiLding networks with stakehoLders from China, Japan and Singapore. Changing behaviours We continue to influence policy in thè UK Preventlon., Minister for Public HeaLth Andrew Gwynne has strongly backed state intervention in health prevention. The proposed Tobacco and Vapes BILL. informed by ILC'S work, looks set to become Law. alongside expected measures to restrict junk food promotion. Home building.. Echoing our White Paper's emphasis on pLanning reform and affordable, weLL- designed housing. Labour's key manifesto theme was 'build, build, build." Work and skills.. Both the Labour and Conservative manifestos placed strong emphasis on getting people into work. Labour specificaLLy highlighted an enhanced roLe for Jobcentre Plus in delivering occupational heaLth and skills training. as recommended in our White Paper. Pitching to the House of Lords Economic Affairs Committee. we were able to convince the committee to focus its next inquiry on the impact of an ageing population. We are advising senlor policymakers globally South Korea.. We hosted delegations incLuding senior officials from the Ministry of Health and Welfare and the Ministry of Infrastructure and Transport. as well as the Vice-chair of the Presidential Commission on Demographic Change. Discussions centred on integrating care. housing, and economic planning.
International Longevity Centre UK Financial Statements for year ended 31 March 2025 Singapore.. We welcomed a high-leveL delegation from the Ministry of Manpower. Ministry of Finance, and CentraL Provident Fund Board. The group engaged in detailed discussions about pension reform and expressed strong interest in our recommendations-particularLy on using behaviouraL nudges to encourage pension saving after other financiaL commitments, such as mortgages, are completed. "Thanks much fvr the sharlng as well, we found the session very useful in our understanding of the UK pension system. Appreciate the collation of the materlals for our reference. l am sure there is a chance forfurther collaboration with ILC as welll" Our publications and events Our full portfolio of publications and events this year can be found below.. Health Publications Mind the age gap.. making mental health matter across the Life course Achieving Universal Health Coverage in Low- and middLe-income countries.. a gLobaL policy agenda Upholding our right to heaLth.' findings from discussions with older peopLe on their access to health services in Mongolia. Rwanda and Zambia Matching the potential.. Maximising the trade opportunities of healthy ageing No heaLth, no weaLth.' the cost-effectiveness and socioeconomic value of Life course immunisation Going for gold.. how do countries and territories compete when it comes to healthy ageing PainfulLy unaware.. improving understanding of shingles vaccination Events GLobaL Launch of the HeaLthy Ageing and Prevention Index 2nd wave - alongside the 77th World Health Assembly in Geneva MentaL HeaLth Matters.. What are the policy priorities for the WHO? Awards ceremony - Going for goLd'. How do countries compete when it comes to heaLthy agelng. High-leveL roundtabLe discussion.. UniversaL Health Coverage in Low- and Middle- Income Countries in Africa - A GLobaL PoLicy Agenda for Longevity High-leveL roundtabLe discussion.. UniversaL Health Coverage in Low- and Middle- Income Countries in Asia - A GLobaL Policy Agenda for Longevity Research symposium.. Mental HeaLth Matters - what are the policy priorities for Japan? High-level meeting aLongside UNGA 79., UniversaL Health Coverage in Low-and Middle-lncome Countries ILMICS) - how can we achieve a gLobal policy agenda for Lon Mental HeaLth Matters.. How can the 2025 UN High-Level Meeting prioritise serious mentaL health conditions in an ageing world? Universal HeaLth Coverage in Low-and-MiddLe-Income Countries webinar Policy discussion - Mental Health Matters.. A GlobaL Policy Agenda High-leveL debate alongside UNGA 79.. HIV and longer lives in high-income countries ILC Deliveroo dinner.. HIV and longer Lives
Internatlonal Longevity Centre UK Finan¢lal Statements for year ended 31 March 2025 Supporting Healthy ageing in China Events Communitles ILC Global Alliance webinar.. the nexus of longevity and climate action Publications Finance strengthening the intergenerationaL contract - investing for intergenerational fairness Strengthening the intergenerational contract - investing for intergenerational fairness. A discussion summary The future of ageing in an uncertain worLd Intergenerational inequality and the future of the sociaL contract Events Economics of Longevity.. Challenges and Opportunities. High-leveL event aLongside the G20 Finance Minister's Meeting and WorLd Bank Group and IMF Spring Meetings Expert roundtable.. With Profit Funds and retirement saving Retirement Income Summit 2024.. Setting the priorities for the next Government ILC at the party conferences 2024 Future of ageing in an uncertain worLd'. Workshop Future of ageing in an uncertain world.. Parliamentary Dinner Future of ageing in an uncertain world.. Webinar Investing in IntergenerationaL Fairness Parliamentary Dinner Webinar.. Strengthening the intergenerationaL contract - investing for intergenerationaL fairness ILC DeLiveroo Dinner.. Frauds and Scams What happens next Publications Our impact 2024 Events I LC Greengross Lecture Future of Ageing 2025.. planning for the long-term Partners event with the University of Surrey Meet the Trustees evening reception Planning for long lives - a solution-focused breakfast ILabour Party Conference) ILC Partners Insight Session
Internatlonal Longevity Centre UK Flnanclal Statements for year ended 31 March 2025 International Longevity Centre Global Alliance ILC-UK is one of the sixteen gLobal members of The International Longevity Centre GLobal ALLiance IILC GLobal Alliance. ILC GAI. ILC GA is a multinational consortium consisting of member organisations, with a mission to help societies to address longevity and popuLation ageing in positive and productive ways. The ILC GA typically use a life course approach, highlighting oLder peopLe's productivity and contributions to family and society as a whole. ILC-UK holds a prominent position within the ILC GA, incLuding sitting on many of the internal committees both as members and as chairs. Advisory Boards ILC works with members of our two committees.. the ILC Strategic Advisory Board and the ILC Insight Experts. These committees were formed to facilitate better engagement with advisors and experts who can help us further ILC'S mission and work. The Strategic Advisory board provides guidance on the strategic direction of thé organisation and contribute to ILC'S thought Leadership on ageing and longevity. The Insight Experts constitute a group of experts whose purpose is to providè specialist knowledge and on-going advice across a range of research and policy areas reLevant to ILC. Ensuring that ILC is sustainable as an organisation ILC continues to review the needs of both our staff body and the organisation as a whole. We continue to take on university students for short-term work pLacements as part of their university courses. Plans for future periods We have made good progress on our 2023 to 2028 Strategy. We are clear on our descriptor, purpose and vision. This year our priorities are to,, Increase our UK-focussed poLicy and research work programme., BuiLd on our international impact., Identify and approach new funders and Partners. Increase our UK-focussed work programme With UK politics and policy moving at pace. there WILL be more opportunities than in the past five years to engage with UK poLicymakers le.g. Pensions Review, the Spending Review.. Government Missions., State Pension Age review,. NHS 10-Year PLan) We will,. Build a UK Long Lives Index as a pLatform for a UK programme of infLuencing lincLuding at a devoLved and LocaL levell. Use our Strategic Advisory Board, Insight Experts and Trustees to help us deveLop and attract funding for a coherent programme of work on financial services and communities.
International Longevity Centre UK Flnancial Statements for year ended 31 March 2025 BuiLd on our international Impact and engagement Our global HeaLthy Ageing and Prevention Index has positioned us as a worLd leading convener and infLuencer on long lives. Our international work has grown over recent years. and it is likeLy that it WILL remain a significant income source as welL as focus of activity We WILL. strengthen the ILC Europe Network as a key group of organisations engaging with European policymakers (not just EU). We will continue to work with the ILC Global ALliance', Continue to utilise our Healthy Ageing and Prevention Index by undertaking projects which use the index as a tooL to support improvements; Focus a programme of work on dèveloping our relationships and income across East Asia. Identifying and approaching new funders and Partners We WILL focus our fundraising on achieving the objectives set out above. We WILL enhance the support the team have in terms of delivering our marketing and fundraising strategy. We wiLI'. Set up an income generation committee including trustees and a smalL number of other co-opted members with an expertise in charity marketing and fundraising. Deliver our marketing pLan and buiLd on the strengths highlighted in our perceptions review structure, Governance and Management Governing document International Longevity Centre UK is a company limited by guarantee governed by its Memorandum and ArticLes of Association dated 30 June 1999. It was registered as a charity with the Charity Commission on 28 April 2000. Organisation The Board of Trustees administers the charity. The board meets three or four times a year. A Chief Executive is appointed by the Trustees to manage the day-to-day operations of the charity. To facilitate effective operations, the Chief Executive has delegated authority. within the terms of delegation approved by the Trustees, for operational matters incLuding finance and employment of staff. Pay and remuneration of key management personnel is approved by the Chair of the Board of Trustees. Hybrid board meetings were held in 2024-25. offering those unable to travel to join meetings remotely. However, the majority of board members attended in-person. Appointment of Trustees The number of Trustees shalL be not less than three but is not subject to any maximum. A Board member's term will be limited to three years, and a board member may sit a maximum of two terms, unless otherwise agreed by the Board. No Board member shall sit for more than three terms. When appointing new Trustees, the Board has regard to the specialist skilLs in the fields of ageing. management or administration that prospective Trustees have to offer. Trustee induction and training New Trustees are briefed on the processes. planning and performance of the charity on the taking up of their appointments. Briefings are conducted by the Chair, Chief Executive and Head of Operations. All
Internatlonal Longevlty Centre UK Flnanclal Statements for year ended 31 March 2025 Trustees are encouraged to attend appropriate external training events which WILI enhance the undertaking of their role. Relatedparty The company's wholly owned subsidiary, ILC-UK Services Ltd, was established in 2008 to provide consultancy services. ALL taxable profits of ILC-UK Services Ltd are given via gift aid to the International Longevity Centre UK. Trustee sub-committees The Trustees have two sub-committees which meet four times a year. prior to quarterly Trustee meetings. The ILC Finance & Remuneratlon sub-commlttee, chaired by the ILC Treasurer, review the organisation's financiaL situation and forecast cashfLow. Committee members have delegated authority to agree inflationary increases. The newly formed ILC Funding sub-committee WILL meet to discuss and recommend potential funding avènues. identifying individuaLs. companies and grant-makers for the staff team to approach. Financial Review Income from grants and endowments amounted to £689,70412024 - £561,722) across a wide range of activities. This, taken together with the subsidiary company's operations. resuLted in net income of £46,13512024 net expenditure - £{329.14111. The total reserves at this date amounted to £395,71312024 - £349,578). Resources expended on charitable activities (including governance costs) were £845,33412024 - £1,052,182). In addition, gift aid receivable from the trading subsidiary was £212.95012024 - £228,400). The Company is limited by guarantee and is not entitLed to pay dividends. The trustees are confident that it is appropriate to produce the accounts on a going concern basis. The International Longevity Centre UK and ILC-UK Services Ltd have an estabLished track record to raising funds from supporters. funders, sponsors and its partnership programme to fund research predominantLy relating to Longevity and the ageing population. That trond is LikeLy to increase in the coming years together with our strategic commitment to participate in Larger programmes increasing funding in the coming years. As such the Trustees remain confident of our ability to continue on a going concern basis with a supported activity pipeline exceeding 12 months., and we retain a surplus approximating 3-6 months of operating costs. .ILC-UK Services Ltd ILC-UK Services Ltd is a wholLy owned trading subsidiary of the charity and has the same accounting year-end date. For the year to 31 March 2025, It had a turnover of £312,54512024 - £355,649) and, after gift aid paid of £243.88112024 - £228,400). it made a net Loss of £30,93112024 - net Loss £24,552). Reserves Policy The Trustees have examined the requirement for free reserves which are those unrestricted funds not invested in fixed assets or othewise committed. The Trustees have anaLysed the risks that the Charity runs and the need to cover temporary timing differences and shortfaLls in restricted grants and endowments. io
International Longevity Centre UK FlnanciaL Statements for year ended 31 March 2025 Free reserves are £103,83812024 - £247,245) which falls beLow the charity's 3-6 month reserves expectations. It is one of the charity's strategic priorities to increase our restricted and free reserves. Investment Policy The Trustees have the power to invest in such assets as they see fit. Given the current Level of free reserves the Trustees consider it appropriate to keep funds in interest bearing bank accounts. Risk management The Trustees have a risk management strategy which includes an ongoing review of the risks that the charity might face, and the establishment of systems and procedures to mitigate those risks. In particular. the Trustees keep a close eye on the funding situation and on the charity's contractuaL commitments, entering into none of the latter for which funds are not seen to be available. Internal risks are minimised by the implementation of procedures for authorisation of aLL transactions and projects. These procedures are periodicaLly reviewed to ensure that they stiLI meet the needs of the charity. At present. the key risks faced by the charity. and how they are mitigated are included below. As is the case with many charities with limited or no core funding. ensuring adequate cash reserves is a priority to ensure we are abLe to meet our obligations. As we continue to live and adapt to an ageing worLd, the work of the ILC has become more and more important, and the longevity of the organisation as a result of this is good. Through our programmes of work. we engage sponsors, funders and grant providers across a range of sectors allowing us to not only reach a wider policy audience but reduce reliance on one sector or type of income stream. Our exposure to risk regarding cyber security is managed with staff training and communications. the use of VPNS when outside our home networks and regular scans and two-factor-authentication where avaiLable. Our staff continue to be our most important asset. Where possible, we ensure there is distribution of responsibilities to mitigate the risk of single- or key-person dependency. We utilise our IT software to share progress updates with the wider team and enlist the services of external service providers where necessary or appropriate. AIL line managers are attending management training in 2025, and we have introduced the use of the Bradford factors threshoLds to manage staff sickness. Trustees, responsibiLities in relation to the financial statements Company law requires the charity Trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitabLe company and the group and of the incoming resources and application of resources, incLuding the income and expenditure. of the charitable group for that period. In preparing the 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.. make judgments and estimates that are reasonable and prudent.. state whether applicable UK accounting standards have been foLlowed, subject to any material departures disclosed and explained in the financial statements.. and prepare the financial statements on a going concern basis unLess it is inappropriate to presume that the charitabLe company will continue in business. li
International Longevity Centre UK Flnanclal Statements for year ended 31 March 2025 The Trustees are responsible for keeping adequate accounting records that discLose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitsble company and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsibLe for the maintenance and integrity of the corporate and financiaL information included on the charitable company s website. LegisLation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. statement of disclosure of information to the auditors Each of the persons who is a trustee at the date of approval of this report confirms that.. so far as the trustee is aware, there is no relevant audit information of which the company's auditors are unaware.. and the trustee has taken aLL the steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. Independent Auditors The auditor during the year was Nyman Libson PauL LLP. This report has been prepared in accordance with the 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 pubLished in SORP 2019 and complies with the Charities Act 2011 and the Companies Act 2006. By Order of the Board Date L Churchill CBE Trustee 12
International Longevity Centre UK Financlal Statements for year ended 31 March 2025 FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2025 INDEPENDENT AUDITORS. REPORT TO THE MEMBERSOF INTERNATIONAL LONGEVITY CENTRE UK Oplnion We have audited the financial statements of International Longevity Centre UK Ithe 'parent charitable company'l and its subsidiaries Itho'group,) for the year ended 31 March 2025 which comprise the consolidated statement of financial activities, the consolidated balance sheet, the charity balance sheet. the consolidated statement of cash flows and the reLated notes, 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 opin5on the financlal 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, including its income and expenditure for the year then ended., 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 and the Charities Act 2011. Basis for opinion We conducted our audit in accordance with InternationaL Standards on Auditing (UK) IISAS IUKI) and applicable Law. Our responsibiLities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of OLlr report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting CounciL's EthicaL Standard, and we have fulfiLLed our other ethicaL responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financiaL statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties reLating to events or conditions that. individually or collectiveLy, may cast significant doubt on the Group's or the parent charitabLe company's abiLity to continue as a going concern for a period of at Least tweLve months from when the financiaL statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this reporL other informatlon The other information comprises the information included in the annual report other than the financial statements and our auditors, report thereon. The Trustees are responsible for the other information contained within the annual report. 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. Our responsibility is to read the other information and. in doing so, 13
Internatlonal Longevity Centre UK Financlalstatements for year ended 31 March 2025 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 INDEPENDENT AUDITORS, REPORTTOTHE MEMBERS OF INTERNATIONAL LONGEVITY CENTRE UK consider whether the other information is materiaLLy inconsistent with the financial statements or our knowledge obtained in the course of the audit, or othewise appears to be materiaLLy misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to 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 report that fact. We have nothing to report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees. Report for the financiaL year for which the financiaL statements are prepared is consistent with the financial statements. the Trustees, Report has been prepared in accordance with applicabLe legaL requirements. Matters on whlch we are required to report by exceptlon In the light of our knowLedge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identifie¢ material misstatements in the Trustees. Report. We have nothing to report in respect of the foLLowing matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion.. the parent charitable company has not kept adequate and sufficient accounting records, 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 accounting records and returns., or certain disclosures of Trustees, remuneration specified by law are not made.. or we have not received all the information and expLanations we require for our audit: 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 Trustees, Report and from the requirement to prepare a Strategic Report. ResponsSbiLities 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 Truste.es are responsible for assessing the Group's and the parent charitable company's abiltty 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 14
International Longevity Centre UK FinanclaL Statements for year ended 31 March 2025 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF INTERNATIONAL LONGEVITY CENTRE UK intend to liquidate the Group or the parent charitable company or to cease operations, or have no reaListic alternative but to do so. Auditors, responslbilities 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 auditors, report that includes our opinion. Reasonable assurance is a high leveL of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI 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. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed beLow.' We gained an understanding of the legaL and regulatory framework applicable to the charity and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, 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 or intentionaL misrepresentations. or through collusion. We focussed on laws and regulations which could give rise to a material misstatement in the financiaL statements, including, but not Limited to, the Companies Act 2006. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent Limitations in the audit procedures described above 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 wouLd become aware of it. We did not identify any key audit matters reLating to irreguLarities, incLuding fraud. As in aLL our audits. we also addressed the risk of management override of internal controls. including testing journaLs and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud. 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. .uk/auditorsres onsibilities. This description forms part of our auditors, report. Use of our report This report is made solely to the charitable company's trustees, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees. as a body, Part 4 of the Charities IAccounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors, 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 its members. as a body, for our audit work. for this report. or for the opinions we have formed. 15
Internatlonal Longevlty Centre UK Flnanclal Statements for year ended 31 March 2025 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF INTERNATIONAL LONGEVITY CENTRE UK Andrew Thomas Isenior statutory auditor) for and on behalf of Nyman Llbson Paul LLP Chartered Accountants statutory Auditors 124 Finchley Road. London. NW3 5JS Date.. 5 November 2025 16
InternationaL Longevity Centre UK Financial Statements for the Year ended 31 March 2025 Consolidated statement of financial activities (Including Income and Expenditure Account) for the year ended 31 March 2025 Unrestricted Restrlcted functs funds Total Total 2025 2024 Notes Income Incomlng Resources from generated funds Voluntary Income Grants and donations 2.057 689.704 691,761 561,722 Income from other trading activities: ConsuLtancy Other Investment income 312.545 312,545 355,649 3.258 3.258 5.270 Total Income 317.860 689,704 1.007,564 922.641 Expenditure: CharitabLe activities Raising Funds 325,172 116,095 441,267 520,162 845.334 116.095 961.429 1,052,182 199.600 1,251.782 5b 520,162 Net income/(expenditure) and net movement in funds for the year 1123,407} 169.542 46.135 (329,U Corporatlon Tax Reconclliatlon of funds TotaL funds brought forward 227.245 122,333 349,578 678,719 Total funds carried forward 103.838 291.875 395,713 349,578 ALI of the company's operations are classed as continuing. The consolidated statement of financial activities includes all gains and losses recognised in the year. The movement on reserves is shown above. The notes on pages 20-30 form parl of these consolidated financial statements. 17
InternationaL Longevity Centre UK Financial Statements for the Year ended 31 March 2025 Consolidated and charltable company's balance sheets as at 31 March 2025 Notes Group Charity 2024 2025 2024 2025 FIXED ASSErs Tangible assets INVESTMENTS CURRENT ASSETS Debtors Cash at bank and in hand 244,090 118,647 364,761 483,408 212.991 80.614 293.605 81,190 109,668 190,858 294.522 538.612 CREDITORS Amounts falling due within one year io 1142,899) 1133.830) 170,8431 145,163) NET CURRENT ASSETS 395,713 349,578 222.762 145,695 TOTAL ASSETS LESS CURRENT LIABILITIES 395.713 349.578 222,762 145.695 FUNDS Restricted funds Unrestricted funds li 291,875 103.838 122,333 291,875 169,1131 122,333 23.364 12 227,245 395,713 349.578 222,762 145,697 The consolidated financiaL statements were approved and authorised for issue by the board on August 2025 and signed on its behaLf by L Churchill CBE The notes on pages 20-30 form part ofthese consolidated financial statements. 18
InternationaL Longevity Centre UK Financial Statements for the Year ended 31 March 2025 Consolidated statement of cash flows for the year ended 31 March 2025 Group 2025 2024 Cash flows from operating activites: Net cash used In operating activities (73,497) (172,023) Cashflow from investing activities Dividends, interest and rents from investments Net cash provided by investing activites 3,258 3,258 5.270 5,270 Change in cash and cash equivaLents in the reporting period 170,239) 1166,753) Cash and cash equivalents at the beginning of the reporting period 364,761 531,514 Change in cash and cash equivalents (70.239} (166,753) Cash and cash equivaLents at the end of the reporting period 294,522 364.761 Reconciliation of net Income/(expenditure) to net cash flow from operating activities Group Net income/(expenditure) for the reporting period (as per the statement of financial activities) Adjustments for: Dividend. interest and rents from investments Ilncreasel/decrease in debtors Increase/(decrease) in creditors 2025 2024 46,135 (329,141) (3,258) (125,443) 9,069 (5,270) 179,081 116,693) Net cash provided by used in operating activites (73,497) 1172,023) 19
International Longevity Centre UK Financial Statements for the Year ended 31 March 2025 i. Accountlng policies The principal accounting policies adopted and judgements in the preparation of the financial statements are as foLLows:_ 1.1 Basls of preparatlon of flnanclal statements 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 IFRS 1021 ISORP 20191- Icharities SORP IFRS 10211, the FinanciaL Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006, These financial statements consoLidate the resuLts of the charity and its wholly owned subsidiary ILC-UK Services Ltd. A separate statement of financiaL activities and income and expenditure account are not prepared for the charity itself following the exemptions afforded by section 408 of the Companies Act 2006. The charity has also taken advantage of the exemptions under FRS 102 from presenting a charity only cashflow statement. International Longevity Centre UK 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. 1.2 Golng concern The Trustees have reviewed the charity's forecasts and budgets and accordingly have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Having therefore assessed the Charity's financial position. its plans for the foreseeable future and the risks to which it is exposed and. taking into account future expected income streams, the Trustees are satisfied that it remains appropriate to prepare the financial statements on the going concern basis. 1.3 Income All income is recognised once the Charity has entitlement to the income, it is probabLe that the income wilL be received and the amount of income receivable can be measured reliably. Grants are incLuded in the Statement of FinanciaL Activities when the Charity is entitled to receive the money. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and incLuded in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Donated goods and services are recognised if their value can be reliabLy measured. During 2024- 25. £490 of recognised travel costs were born by donors12023-24 - NIL). There were no conditions attached. ILC also benefits from the input of volunteers leg stewarding at eventsl. Their contribution is highly appreciated. but not financially recognised in the accounts. Revenue from a contract to provide services is recognised in the period in which the services are provided when all of the foLtowing conditions are satisfied: the amount of revenue can be measured reliably: and it is probabLe that the Charity WILI receive the consideration due under the contract. 20
International Longevity Centre UK Financial Statements for the Year ended 31 March 2025 i. A¢countlng policles (continued) 1.4 Expenditure Expenditure is recognised once there is a legal or consl¥uctive obligation to transfer economic benefit to a third party. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Governance costs represent expenditure incurred on external audit, legal advice for trustees and costs associatecl with constitutional and statutory requirements 1.5 Operatlng leases Rentals payabLe under operating leases are taken to the profit and loss account on a straight-line basis over the lease term. 1.6 Tanglble fixed assets las per sub accounts) 1.7 Debtors Short term debtors are measured at transaction price. less any impairment. 1.8 Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 1.9 Financial Instruments The Charity only enters into basic financial instruments transactions that result in the recognition of financiaL assets and liabiLities like trade and other debtors and creditors. i.io Crodltors Short term creditors are measured at the transaction price. 1.11 Pensions The Charity operates a defined contribution pension schème and the pension charge represents the amounts payabLe by the Charity to the fund in respect of the year. 1.12 Fund accounting General funds are unrestricted funds which areavaitable for use at the discretion of the Trustees in furlherance of the general objectives of the Charily and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for parlicular purposes. The costs of raising and administering such funds are charged againsl the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 1.13 General Information International Longevity Centre UK is a private company limited by guarantee and Incorporated in EngLand. Its registered office and principal place of business is The Foundry, 17 Oval Way. London. SEII 5RR. 21
International Longevity Centre UK Financial Statements for the Year ended 31 March 2025 Grants and Donations Funders , Unrestrlcted funds Restricted funds Total Total 2025 2024 AARP A(zheimer's Society "Amgen Audley Boehringer Ingelheim British High Commission IFCDOI Design Age Institute FINN Partners Gilead Glaxo Smith Kline Government of South Korea HaLlmark ILC Global ALLiance Institute of Actuaries Institute for Health and Economic PoLicy LV- Merck Sharp & Dhome Corp Pfizer Phoenix RBW ConsuLtancy Royal CoLlege of Art Sanofi Aventis Groupe Seqirus Sundry donations The King's Fund University of Sterling 1.163 2,175 15,980 50.000 15.980 50,000 3,000 75.000 489 489 21,324 8.330 8.253 74,950 6,704 5,762 15,000 7.396 32.000 8.253 74,950 6.704 5,762 15.000 7.396 32,000 50.000 38.000 3,771 8,000 402 3,000 54,004 53,570 48.200 7,500 880 75,000 40,000 1.812 70.000 297,568 70.000 ' 297.568 85.000 85,000 2,057 1.327 19,275 3.384 19,275 66.591 689 1,761 61 22 Previous year 61, 22 22
International Longevity Centre UK Financial Statements for the Year ended 31 March 2025 Net Proflt from trading a¢tivltl•s of subsidlary The charity has a whoLiy owned trading subsidiaty which is incorporated in the UK. The cost of investment in the subsidiary is £1 and is loo% of shares issued. The principal activity of ILC-UK Services Ltd is the provision of consultancy services. An interim gift aid payment of £40.000 was made during 2024-25. The retained profit carried forward will be paid to the charity during 2025-26. During 2023-24, a payment of £228,400 was accrued at 31 March 2025 and paid before 31 December 2024. Accounts are filed with the Registrar of Companies. A summary of the trading results. which are included in the consolidated statement of financiaL activities, is shown below. Assets, Liabilities and funds of the subsidiary are included in the consolidated balance sheeL Capital and Reserves at the 31 March 2025 were £1 and £212.950 respectively12024 £1, £203.881) 2025 2024 Turnover 312,545 139,455} 273.090 355,649 Cost of sales Gross profit Other income Administrative expenses. including gift aid Corporation Tax Profit/lLossl for the year 355,649 160,1511 li 1151.790) (ill 203,848 212.950 Retained profit brought forward Gift aid distribution Retained profit carried forward 203,881 1243,8811 172,950 228,433 1228.4001 203,881 Investment Income 2025 2024 Bank Interest receivable 3,258 5,270 23
International Longevity Centre UK Financial Statements for the Year ended 31 March 2025 Expendlture on charitable activities and ralslng funds Note 5a- Charltable activities 2025 2024 staff costs Travel costs Printing, Books and Stationery Project costs General expenses, IT costs, ProfessionaL Fees 6u.730 32.187 1,674 19,208 388 718,240 53,283 11.561 80.490 96.867 staff Costs Office costs Project costs, Travel, Printing, Books. Stationery General expenses, IT costs, Professional Fees Bank charges and interest HR Costs Governance costs 67.000 2,877 27,215 32,513 384 23.962 23.196 6,695 44.186 554 36.029 4,277 845,334 1,052,182 Direct Support 668,187 177.147 960,441 91.741 Note 5b- Ralsing funds 2025 2024 Office costs Travel costs Projecl costs, Travel Printing. Books, Ststionery Bank charges and interest IT Costs, Professional fees HR Costs Marketing and Events costs External conference costs Governance 49,497 3.135 65,92g 5.755 53,659 6.181 30,570 5,887 152 6,886 243 12.lgg 7.835 46,299 1,501 21 16,500 3,447 116,095 199,600 Direct 50,205 65,890 Support 199,600 Total- Direct Costs Total- Support costs 718,392 .243.037 961,429 960,441 291,341 1.251,782 24
International Longevity Centre UK Financial Statements for the Year ended 31 March 2025 staff and Trustee remuneratlon 2025 2024 staff costs'.- Salaries and other costs Pension costs NationaL Insurance 594.249 59,235 28,247 681,731 622,788 63.881 31,571 718,240 The number of employees whose total employee benefits, excluding pension contributions, exceed over £60,000, classified within bands of £10,000 is as follows.. 2025 2024 £100,000 - £109,999 £110.000 - £119,999 Pension contributions relating to those staff eaming over £60.000 totalled £5.511 in the current year12024 - £5.350). The key management personnel of the charity and the group comprise the trustees, the Chief Executive and the Heads of Research / Policy and Influencing / Projects / Operations. During the year, the Head of Programmes left and the Head of Parinerships became the Head of Programmes and Partnership. The totaL employee benefils of the key management personnel of the charity and the group were £345.23712024 - £308,7181. During the year no ex-gratia payments were made12024 - £7.0271. The average number of employees during the year was made up as follows.. 2025 2024 Charitable activities The Trustees did not receive any remuneration12024.' NID, but were reimbursed reasonable out of pockel expenses, 2025 £1,28212024- £8711. 2025 16 2024 Trustees 12 Tax on activltles The company is a registered charity and as such is not liable for taxation on any profit in the year. The subsidiary. company currently does not have a corporation tax liability12024 - Nil). Tangible assets All tangible assets have been fully depreciated and therefore have zero net book value. 25
InternationaL Longevity Centre UK Financial Statements for the Year ended 31 March 2025 Debtors: amounts falling due wlthin one year. Group 2025 Charity 2025 2024 2024 Grants receivabLe Amounts due from Subsidiary Company Trade and other debtors 204,275 78,884 204.275 78,884 39,815 39,763 244,090 118,647 8.716 212,991 2,306 81,190 io. Creditors: amounts faLLing due within one year Group 2025 Charity 2025 2024 2024 Trade creditors Amounts due to subsidiary company Deferred income other creditors and accruals other taxes 7,367 8,502, 5,283 5,138 75.696 80,597 28,297 14,452 31.539 30,279 26,196 13,097 24,377 10,503 14,987 16,425 142,899 133,830 70,843 45,163 26
International Longevity Centre UK Financial Statements for the Year ended 31 March 2025 ii. Restricted Funds Current Year At i April Incomlng 2024 Resources Outgolng Resources At 31 March 2025 Projects Ageing Socleties Climate Change and Longevity Delivering Prevention-Global Health. WeLibeing + Prevn Index Dementia Pridem Health Coverage in Low Income Countries . HIV and Long Lives Hosting delegations ILC Global Alliance ISPPD Pneumococcal project Longevity - the long term agenda Making China longevily-ready Mental Health Matters Reimagining vaccine coverage across the loo- year-life Speaking Engagements UK HealthyAgeing Index 19,275 3.722 19,275 3,722 51.500 299,473 231.373 119,600 15,980 14.480 50,000 52,450 5.762 3,675 11,586 16.000 1.500 50,000 74.950 5,762 3,675 8.253 32.000 65,000 22,500 3,333 16,000 65,000 67.500 67.500 30.000 3.000 16.614 65,000 16,614 20,000 45.000 122,333 689,704 520.162 291.875 The expenditure in project 'Health Coverage in Low Income Countries. includes a grant of £io.000 to HelpAge International UK for conducting Focus Group Discussions.
Intemalional Longevity Centre UK Financial Statements for the Year ended 31 March 2025 ii, Restricted Funds Icontd.) Prevlows Year Incomlng At i Aprll 2023 Resources Outgolng Resources At 31 March 2024 Projects Dementia Pridem Design age institute collaborallon Retail Impact- Healthy Agelng Delivering P¥evention-Global Health. Wellbeing + Prevn Index IFOA Event Series Trial & Error Lifecourse Immunisation across G7 & G20 2,175 21,854 66.591 2,175 21.854 66,591 179,004 127,504 51,500 8,000 7,500 8.000 7,500 80,000 80,000 Inaugural Greengross Lecture Life long learning Plomoting immunisation throughout the life 13.163 45.200 ,163 45,200 8,500 5.418 35,000 75,000 8,331 402 S56,8 8.500 5.418 35,000 7.500 4,998 402 433,805 Speaking Engagements Going for Gold Mental Health Matters ISPPD Pneumococcal project . Long Term Care Systems 67.500 3,333 122,333 Unrestricted funds Transfer At i April 2024 Incomlng Rosources Outgolng Resources between At 31 March 2025 funds 243,881 1243,8811 Charlty Funds Non Charity Trading Funds 23.364 203.881 5,315 312,545 1341.6721 199,5951 169,1121 172.950 Total 227,245 317.860 1441.2671 103,838 Prevlousyear Transfer At i Aprll 2023 Incomlng Resources Outgolng Resources betwegn funds At 31 Mareh 2024 Charity Funds Non Charily Trading Funds 678,686 33 10,853 355,649 1666.1751 Iw,8oJ) 23,364 203.881 .Total 678,Dg ' 366,502 1817,9761 227,245 28
International Longevity Centre UK FinanciaL Statements for the Year ended 31 March 2025 13. Parent company results The parent company has taken advantage of section 408 of the Companies Act 2006 and has not included its own Statement of FinanciaL Activities. The net incoming resources for the year for the charity amounted to £(166,436112024 net incoming resources - £304,590). Penslon costs The charitable company operates a defined contribution pension scheme on behaLf of all its employees. The assets of the scheme are held separately from those of the empLoyer in an independentLy administered fund. The cost for the year by the employer was £28.24712024 - £31.57 15. Net outgoing resources of the group for the year This is stated after charging.. 2025 2024 Depreciation Auditors, remuneration 15.000 . 12,300 16. Commitments At 31 March 2025, the company had commitments of £20.507 under non-cancelLable operating leases over the remaining life of those leases12024 - £20,157). Group 2024 Charlty 2024 2025 2025 Within i year 2 to 5 years 20,507 20.157 20,507 20,157 17. Analysis of net assets between funds Unrestricted Restricted funds funds Total funds 2025 2025 2025 Current assets Current liabilities 246,737 (142.8991 103,838 291,875 538.612 (142,899) 395,713 291.875 29
International Longevity Centre UK FinanciaL Statements for the Year ended 31 March 2025 AnaLysls of net assets between funds (prior year) 18. Unrestricted Restricted funds funds Total funds 2024 2024 2024 Current assets Current liabiLities 361,075 1133,830) 227,245 122,333 483,408 1133,8301 349,578 122,333 19. Reconciliation of Net income/(expenditure) to net cashflow from operating activities Group 2025 2024 Net income/(expenditure) for the reporting period 46.135 (329,141) Adjustments for.. Depreciation charges Ilncrease)/decrease in debtors Increase/(decreasel in creditors Net cash provided by/(used in) operating ac.tivities 1125,443) 9,069 (70,2391 179,076 116,688> 1166,753) 20. Related Party Transactions Trustee donations totalled £25012024- NIL). There are no other reLated party transactions, 30