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← The Worshipful Company Of Security Professionals Charitable Trust

2025-06-30-accounts

Charity number: 1088658

THE WORSHIPFUL COMPANY OF SECURITY PROFESSIONALS CHARITABLE TRUST

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

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THE WORSHIPFUL COMPANY OF SECURITY PROFESSIONALS CHARITABLE TRUST

CONTENTS

Page
Reference and administrative details ofthe Charity, its Trustees and Advisers 1-2
Trustees’ report 3-10
Chair’s statement 11-13
Independent Auditors’ Report 14-16
Statement of financial activities 17
Balance sheet 18
Notestothefinancialstatements 19-26

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THE WORSHIPFUL COMPANY OF SECURITY PROFESSIONALS CHARITABLE TRUST

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REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2025

Trustees

The Trustees during the financial year were:

Charity registered number

1088658

Registered office

Principal address

Saddiers’ Hall Adrienne Harper 40 Gutter Lane 36 Queens Road LondonEC2V 6BR OdihamNorth Warnborough Hants RG29 1DN

THE WORSHIPFUL COMPANY OF SECURITY PROFESSIONALS CHARITABLE TRUST

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REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2025

Advisers

Independent Auditors

FLB Audit LLP Chartered Accountants and Statutory Auditors 1010 Eskdale Road Winnersh Triangle Wokingham RG41 5TS

Bankers

Lloyds Bank Plc 39 Threadneedle Street London EC2R 8AU

EFG Private Bank Limited Park House 116 Park St London W1K 6AP

Accountant

Jane Knights BSc (Hons) ACA Tanglewood Bath Road Marlborough Wiltshire SN8 1NN

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TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2025

The Trustees present their annual report together with the financial statements of The Worshipful Company of Security Professionals Charitable Trust (the Charity”) for the year ended 30 June 2025. The Trustees confirm that the annual report and financial statement of the Charity comply with the current statutory requirements, the Charity’s governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019).

The Charity was originally registered under the name The Guild of Security Professionals Charitable Trust Fund.

Objectives and Activities

a. Policies and objectives

The objects of the Charity are:

general charitable purposes, including the benefit of other charitable institutions, in any part of the world except that; at the Trustees’ own absolute discretion they may at any time sub divide the Charity capital and by revocable or irrevocable deed declare particular Trusts for any part of the Charity capital; save that these purposes and trusts shall be exclusively charitable within the meaning of English law (the “objects”). | The Charity is a grant-making Charity focused on the wider world of Security. This includes the private security industry, blue light services, and the armed forces (“the security profession”). As well as supporting current and | former members of the security profession, the Charity also considers broader public protection benefits | including the prevention of crime, helping individuals to avoid becoming involved in criminality and the | protection of others. | The Charity has focused on domestic projects so that the Charity can ensure that funds are being well used.

Mission Statement

To distribute monies in order to

(i) assist current and former members of the security profession in difficulty and alleviating suffering and distress; (ii) promote and support education; and (iii) deliver projects with wider significance to the public.

The Charity aims to provide Kindness in Security, valuing and adopting our ethics of Commitment, Integrity and Trust.

| b. Grant making policies | As the “Charitable Trust of the Security Industry” the Charity’s grant-making has a particular focus on projects | that reduce crime, increase public safety, and provide help to those in need from or connected to the wider | world of security. Trustees continue to proactively identify areas where support can be targeted and is needed. | Whilst applications receive detailed consideration from Trustees, this approach helps to ensure that the availability of the Charity’s support is known in the profession and by those who work to support those in the profession. Members of the Worshipful Company of Security Professionals Livery Company (WCoSP) are also encouraged to bring potential causes to the attention of the Trustees.

Trustees award three types of grant:

° Small grants, under £500

° Medium grants, £500 - £5,000

THE WORSHIPFUL COMPANY OF SECURITY PROFESSIONALS CHARITABLE TRUST

| The Charity prefers to fund small to medium-sized organisations. This generally allows the Charity to affect a | bigger impact from its resources; the Charity does not normally consider grants to fund salaries or general running | costs. The Charity does not make awards to pay off existing debts. The Charity favours organisations actively | supported by volunteers, especially those which encourage past and current users to participate. The Trustees | are aware of their responsibilities to help the wider community.

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TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2025

° Large grants, over £5,000. Large grants are only given to charities/organisations known to the Trustees and in all probability where a smaller initial grant will have previously been made. There is no requirement on the Trustees to make any large grants in a financial year.

The Charity receives more applications for funding than it has available in its annual funding budget.

c. Strategies for achieving objectives

The Charity works to a detailed annual budget and rolling five year business plan which is approved by the full board of Trustees. The budget for the financial year 1 July 2025 to 30 June 2026 was approved in principle by the Trustees at the meeting on 23 April 2025 and ratified at the meeting held on 24 July 2025.

The Charity’s Grant and Donations budget is based on the previous year’s donation and investment income which allows a budget for grant donations to be set and allocated over the various sectors.

The Charity's grant-making, from its General, unrestricted, Fund, is developing to become more focused on larger grants to support selected projects over a longer-term plan rather than being primarily reactive. Donations from the Security Benevolent Fund (the SBF”), a Restricted Fund focused on helping individuals, remain and will always be predominantly reactive due to the nature of individual hardship applications from retired and current employees (or their families) from within the security sector, military or blue light services.

| always be predominantly reactive due to the nature of individual hardship applications from retired and current employees (or their families) from within the security sector, military or blue light services. | The Charity does not operate its own web site but has pages donated to it on the Livery Company web site which includes the ability to contact the Charity about applying for a grant or donation and also allows a donation to the Charity to be made.

The Charity maintains the ability to be dynamic and where meritorious applications are made, or areas where support is needed or identified, the Trustees will consider those applications, even where specific money has not been budgeted.

In addition to the basic thrust of the Charity, which is to help all people in need in the wider world of security, the Trustees always look to seek ways of providing additional help and support to the wider public community. This can be through providing publicity opportunities at events or facilitating access to organisations and facilities such as the Whittington Course and by the support of other organisations and bodies.

d. Activities for achieving objectives

As noted above the Charity works to a detailed annual budget and rolling five year business plan. This covers sources of income and a Grants and Donations budget. Quarterly Management Accounts are produced and submitted to each Trustees’ meeting tracking actual performance against budget.

As part of the budgeting process key objectives are defined and Trustees allocated the responsibility of achieving those objectives. These responsibilities are covered in the Trustees’ responsibilities matrix.

Fund raising. Whilst a separate organisation to the Livery Company, the Charity receives a substantial part of its income through new members joining fees as well as from Company events, principally the Spring Dance.

Grants. A named Trustee takes responsibility for each of the projects that the Charity supports.

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TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2025

Restricted Funds. A named Trustee is responsible for each Restricted Fund.

The Trustees report back on the activity within the project they have responsibility for and on any significant events that could or will impact on the performance of the sector against the budget and the plan going forwards.

e. Short and long term objectives

The short-term objectives are covered by the annual budget and the longer-term objectives are covered by the rolling five-year plan which is updated annually as part of the budget process.

The Trustees financial strategy was reviewed and updated in the year. At the Board of Trustees Meeting held on 30" January 2025 it was agreed that the Charity’s Financial Strategy was:

The Charity’s Financial Strategy is to follow a medium risk investment strategy over the medium term so that the value of the Investment Fund is grown by inflation and generates income and capital growth to allow the Charity’s annual donation figure to be maintained in the range of £65,000-£75,000 a year.

It was recognised in that any particular year the value of the Investment Fund could increase or decrease but that over the medium, five-year, period the required return was expected to be generated.

f. Main activities undertaken to further the Charity’s purposes for the public benefit

Trustees are aware of the Charity Commission guidance on Public Benefit and confirm that they have complied with the duty of Section 17 of the Charities Act 2011 to have due regard to it. The Trustees believe that the Charity’s aims, activities and achievements, in the many areas of interest that the Charity supports, demonstrates the benefit to its beneficiaries and through them to the public benefitting from those activities.

Significance of volunteers in activities

The Charity does not formally use volunteers in its activities.

Achievements and performance

a. Key financial performance indicators

The Charity operates a detailed annual budget and rolling five-year business plan. This covers sources of income including a regular report from the fund managers, and a detailed Grants and Donations schedule. Management Accounts are prepared on a quarterly basis and are submitted to each meeting of the Trustees to allow performance to be tracked against budget. Variances are identified and objectives reviewed to make sure the targets are achieved.

b. Review of activities

The 2024/2025 financial year was challenging with a large degree of financial market instability caused by the Government in the USA, the Trustees continued to take a medium to longer term view and did not adjust the Grant and Donations budget in the face of the market volatility. By the end of the year confidence was returning to the financial markets which helped the value of the portfolio and investment income recover. In terms of fund raising, the income from Joining fees was strong as the membership of the Livery Company grew considerably, The Spring Dance enjoyed a very good attendance with significant funds being raised for the General Fund, The SBF Restricted Fund and the Disney Restricted Fund. The new format of the City of London | Commissioners Dinner also made a good contribution. This collectively generated over £30,000 of income.

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TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2025

To try and offset the loss of the Freedom Fines no longer being paid into the Charity the idea of a small monthly donation, a coffee a week, was promoted to the membership of the WCoSP. This received a positive response with a number of members and Trustees signing up to make regular monthly donations. This funding source generated over £2,500 in the year and will continue to be promoted.

The Trustees can report that the Charity made Grants and Donations of £78,034 (2024: £76,853).

The Trustees are constantly reviewing the processes to ensure that greater awareness of the Restricted Funds is being communicated to the members of the WCoSP and wider audience, as well as encouraging applications to the Charity for projects not covered by the Restricted Funds.

The results for the year are a surplus of £4,443 which is better than the budgeted result of a deficit of £35,399 but below the prior year surplus of £60,739. The total income during the financial year was £80,160 compared to the conservative budgeted income of £61,301 and prior year income of £66,716. This was mainly due to the investment income.

The value of the reserves increased by £4,443 at the year-end. The value of the investment fund 30 June 2025 had decreased from the valuation at 30 June 2024 by £37,676. The Trustees have continued to keep the value | £1,027,778).of investments under review. As at year end, the total reserves increased to £1,032,221 after expenses (2024: | c. Investment policy and performance In the Year the Charty’s Investment strategy was reviewed. At a Board of Trustees Meeting held on 30! | January 2025 it was agreed that the Charity’s Investment Strategy was: | The Charity will use a professional firm of fund managers employed ona fully discretionary basis to | management the Charity’s Investment fund. | The Charity’s Investment Strategy is to follow a medium risk investment strategy over the medium term so that | the value of the Investment Fund is grown by inflation, covers the fund managers costs and generates income | and capital growth.

The Charity’s portfolio is managed by EFG Private Bank on a fully managed basis with the fund managers working to an agreed set of objectives with the performance being assessed against market indices. A formal annual review between the Trustees and EFG takes place each year. EFG provide monthly valuations so that the Trustees can monitor the performance of the portfolio regularly at Trustee meetings.

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TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2025

Financial review

a. Going concern

After making appropriate enquiries, there is reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, the Trustees continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

b. Reserves policy

At a Board of Trustees Meeting held on 30" January 2025 it was agreed the Charity’s Reserves policy was:

The Charity’s Reserves Policy is that, over the medium term, the value of the Reserves should be protected against inflation and used to generate funds each year to support the amount the Charity is able to donate to good causes. It was recognised in that any particular Year the value of the Reserves could both increase or decrease.

The Charity has three Restricted Funds. The Security Benevolent Fund (SBF), the Disney Fund, and the Per Loof Travel Bursary Fund. The Restricted Funds are intended to be long term.

c. Principal funding

The principal sources of income are through the Worshipful Company of Security Professionals and its members, namely membership joining fees, donations from the Spring Dance, and the surplus from the City of London Commissioners Dinner. The Charity also has both capital growth and income from its investment fund.

Structure, governance and management

The Charity is run by the Board of Trustees.

The Livery Company donate the services of its Clerk to provide administrative and secretarial support. The Livery Company's Hon. Treasurer also provides some services to the Charity.

All other services required by the Charity are either provided by companies or independent contractors. Services are either provided against a formal quotation or a written specification. All payments are made by bank transfer, cheque or standing order against an invoice and are recorded in the Charity’s computerised accounting system.

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The Charity’s High Street banking facility is provided by Lloyds Bank. The mandate with Lloyds was reviewed and updated in August 2024. The Charity does not have any petty cash and no payments are made by cash. The Charity now uses internet banking to facilitate online Banking.

The EFG Private Bank mandate was reviewed in July 2024. The Trustees have four nominated signatories with any two to sign on any transaction. No transactions are made in cash.

a. Constitution

The Charity is registered with the Charity Commission and was constituted by Deed on 27 March 2001 and amended by supplementary Deeds dated 5 May 2004, 10 March 2010 and 4 June 2014.

The Trustees have also considered whether the Charity should become a Charitable Incorporated Organisation (CIO). Whilst remaining open to the position changing, the Charity considered that it was not a route that would benefit the Charity or its beneficiaries at this stage. On the contrary, it would incur significant costs with limited benefits.

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| All Trustees must be Members of the Worshipful Company of Security Professionals (WCoSP), A Livery Company of the City of London.

| Trustees. The Charity The Charity Charity also budgets each year for Trustee year for Trustee for Trustee Trustee training. This is to allow new Trustees to allow new Trustees allow new Trustees new Trustees Trustees to attend attend relevant courses and for established Trustees to attend courses relating to general Trustee responsibility and legislative changes as well as courses relevant to to the areas for which which they take specific responsibility. | d. Pay policy for senior staff | The Charity does not employ any staff and has no plans to employ any staff in the budget year or in any years | covered by the five-year business plan. | The Clerk, who works for the Charity for around half a day a week, is provided without charge by the WCoSP. | The Treasurer is an honorary position, and the office holder does not receive payment. None of the Trustees, including the Chair of the Board of Trustees, receive payment for being in office. | Approved expenses incurred by a Trustee, which do not include costs associated with attending Charity meetings, | can be reclaimed by the Trustee on a formal Expense sheet supported by valid receipts. || e. Organisational structure and decision making | The Charity is run by the Trustees. The Trustees must hold at least two meetings each year and usually hold four or five meetings a year. A quorum at a meeting is three Trustees or two thirds of the number of Trustees, | whichever is the greater, save that the number of Trustees shall fall below 3 the remaining Trustee(s) can and | must act only to preserve the Charity’s assets and to appoint new Trustees as soon as possible. | Except where otherwise provided in the Deed, every issue may be determined by a simple majority of the votes cast at a meeting of the Trustees. Except for the Chair, who has a casting vote, every Trustee has one vote on each issue.

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b. Method of appointment or election of Trustees

Trustees are recruited in accordance with the Trustee Recruitment document and process, in that vacancies are advertised to the Members of the WCoSP. Trustees’ selection is based upon the requirements of the Charity and takes into account the relative experience and ability of the respective applicants, while satisfying the requirement that the maximum number of Trustees is twelve; comprising one ex-officio Trustee and up to eleven Trustees (of whom not less than five must be non-Court members). Trustees are appointed for a two-year term. All Trustees have equal voting rights save for the Chair who has a casting vote when an initial vote is tied. The Court, which is the governing body of the WCoSP, confirms the appointment of Trustees. The Master of the WCoSP is offered the ex-officio position during his/her time as “the office holder” but may nominate an alternate in advance of the start of the year.

c. Policies adopted for the induction and training of Trustees

A Trustee starter pack containing all the core documents and information is provided electronically to all new Trustees. The Charity The Charity Charity also budgets each year for Trustee year for Trustee for Trustee Trustee training. This is to allow new Trustees to allow new Trustees allow new Trustees new Trustees Trustees to attend attend relevant courses and for established Trustees to attend courses relating to general Trustee responsibility and legislative changes as well as courses relevant to to the areas for which which they take specific responsibility.

All Grants and Donations are all approved by the Board of Trustees, a simple majority being required.

All Trustees take on specific responsibilities which is recorded on the Trustee matrix. In addition to each Restricted Fund the General Fund is divided into Education, The City, The Services, Professional Organisations, The Master’s Fund and The Sheriffs’ Award and are then looked after by a particular Trustee. From May 2020, applications made to the Charity that are approved are allocated to a nominated Trustee to maintain the relationship and to encourage consistency in reporting.

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f. Related party relationships

|| TheCharity.WCOSP is a related party due to the fact that the Court confirms the appointment of the Trustees of the | g. Risk management | The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the | operations and finances of the Charity. The Charity operates a computerised accounting system. All income and expenditure is recorded on the system and ail income and expenditure goes through the Charity's bank account. | The Charity does not deal in cash. The Trustees are satisfied that systems and procedures are in place to mitigate : exposure to the major transactional risks. | The Charity is registered with the Information Commissioners Office. | All Trustees are required to complete a Conflict-of-Interest form annually, which is reviewed by the Chair. : individual Trustees are also expected to consider whether any particular application creates a conflict and declare | it accordingly, and then abstain from the decision. | Trustees continue to review risks during each of its meetings, and are mindful of the legal obligations as Trustees, : as well as the need for good corporate governance. The Trustees monitor training opportunities and nominate | Trustees to attend any relevant training courses that are identified. The Charity requires all funding requests to be in writing with the application detailing the total amount of funds | required, the funding commitment being requested, the intended use of the funds and the timescale over which | the funds will be spent or used. As a condition of making a grant the Charity also requires a written report detailing the use of the funds. All grants and donations are approved by a majority vote of Trustees. If a grant is approved | a Trustee will then be nominated as a point of contact with the organisation.

The Charity’s investment fund is invested on a longer-term basis in accordance with both the Charity’s financial strategy and investment strategy and is subject to a detailed annual review by the full Board of Trustees. The Trustees are mindful that this is a long-term investment strategy and short-term losses, whilst requiring review, do not necessarily mean that the strategy should be changed. As the last financial year has shown, it is important to not crystallise ‘paper’ losses, and the Charity’s overall financial position has allowed it to ‘weather the storm’. Nevertheless, Trustees are not complacent, and there will be continued reviews of the investment strategy.

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: Plans for future periods a. Future developments | The Charity intends to : take on on office space commitments. | The Charity intends to

a. Future developments

The Charity intends to continue to operate in the established format. It has no plans to directly employ staff or to take on on office space commitments.

The Charity intends to continue to look for new funding sources from within the Security Profession and to work with other groups within the Security Profession who raise funds for Charitable causes.

Trustees’ responsibilities statement

The Trustees are responsible for preparing the Trustees’ 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

THE WORSHIPFUL COMPANY OF SECURITY PROFESSIONALS CHARITABLE TRUST

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TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2025

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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:

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the Charity's transactions and 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 Charity 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.

AShley Fernandes Chair

Peter Fraser-HopwellLCMG OBE Trustee

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| Financial markets experienced considerable instability during the year, largely driven by global political uncertainty. The Trustees remained committed to our medium-term investment strategy and took the deliberate || decision not to reduce the Grants and Donations budget in response to short-term volatility. | | Although the market value of our investment portfolio fell by £37,676 to £1,010,011 at 30 June 2025, our total

NN CHAIR’S STATEMENT FOR THE YEAR ENDED 30 JUNE 2025 a

Chair's statement

This report relates to the financial year from 1 July 2024 to 30 June 2025.

Introduction

The 2024/25 financial year has been both eventful and rewarding for the Company of Security Professionals Charitable Trust. As my first full year as Chair, | am pleased to report that despite challenging economic conditions and market volatility, we have remained firmly committed to supporting those in need, advancing education, and funding projects that deliver real public benefit.

| am deeply grateful to my fellow Trustees for their dedication and adaptability as we balanced the demands of managing our investments in uncertain markets with the responsibility of delivering on our charitable objectives.

Special thanks go to our Clerk, Adrienne Harper, whose tireless work in organising meetings, managing donations, and processing grant applications keeps the Charity running smoothly; to Jane Knights for her expert financial guidance and support; to our Treasurer, Josef Khan, to our auditors for their diligence; and to EFG for their prudent management of our investment portfolio.

| also wish to acknowledge Peter French for his energetic and effective fundraising efforts, especially at the Spring Dance, and to thank all of our sponsors, supporters, and contributors whose generosity underpins everything we do.

The Trustees’ continued willingness to engage, whether through email discussions, detailed project reviews, or | active participation in meetings, despite demanding professional and personal commitments, has been essential | to our success this year.

During the year we were pleased to welcome lan Dyson CBE QPM DL and Andrew Knights as Trustees, strengthening the breadth of skills and experience on our Board. The Trust continues to be well-supported by the Worshipful Company, with joining fees and income from events making a significant contribution to our financial stability.

| am delighted to report that in 2024/25 the Charity approved and disbursed grants totaling £78,034, supporting a wide range of projects and individuals, all in line with our charitable objectives.

Reserves

Although the market value of our investment portfolio fell by £37,676 to £1,010,011 at 30 June 2025, our total reserves increased slightly to £1,032,221 thanks to strong income generation and prudent cost management.

We will continue to work closely with EFG to ensure that our portfolio remains aligned to our strategy and that we retain the ability to maintain annual charitable distributions in the range of £65,000 to £75,000.

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Income The Charity’s total income for the year was £80,160, well above the budgeted £61,301 and ahead of last year's £66,911.

Key contributors included: * Joining fees — strong performance, reflecting growth in Worshipful Company membership. * Events — the Spring Dance and the revitalised City of London Commissioners Dinner together generated over £30,000. * Small regular donations — the “Coffee a Week” campaign raised more than £2,500 in recurring contributions. * Investment income — £28,006, exceeding expectations.

We are grateful to the Master and to the Worshipful Company’s Events & Communication, Membership & Fundraising, Young Members, and Military Affiliates committees, whose efforts were vital in achieving these results.

Donations

Our charitable giving this year reflects our mission in action, supporting relief of hardship, advancing education, and delivering public benefit: * Security Benevolent Fund (SBF) — £7,517 awarded, up from £2,800 last year, supporting all eligible applications from individuals in genuine hardship. + Education — £8,000 to Harris Garrard Academy (Endeavour Award), and £1,048 from the Per Loof Travel Bursary Fund. * Community and Public Benefit— the Sheriffs’ Bravery Award awarded £7,500 to recognise exceptional courage.

Other significant donations included: - £10,000 — Prevent Violence Against Women & Girls (P-VAWG) - £5,000 — PTSD Resolution

In total, we supported 19 General Fund grants alongside projects funded through our Restricted Funds, ensuring that each award met our charitable aims.

The Charity

Trustees have continued to build relationships with beneficiary organisations, review applications thoroughly, and ensure funds are used effectively. While many applications are worthy, some fall outside our funding criteria. When they do align, it is particularly rewarding to be able to approve them and see the impact they create.

Our ability to maintain this level of impact is thanks to the adaptability of Trustees, meeting in person where possible, virtually when necessary, and always being prepared to give their time and expertise beyond formal meetings.

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THE WORSHIPFUL COMPANY OF SECURITY PROFESSIONALS CHARITABLE TRUST

CHAIR’S STATEMENT FOR THE YEAR ENDED 30 JUNE 2025

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Looking Ahead

We remain committed to distributing funds to:

  1. Assist current and former members of the security profession in difficulty.

  2. Promote and further education.

  3. Support projects with a broader public benefit.

In doing so, we uphold our values of Kindness in Security and our core principles of Commitment, Integrity, and Trust. 2

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INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF THE WORSHIPFUL COMPANY OF SECURITY PROFESSIONALS CHARITABLE TRUST i We have audited the financial statements of the Worshipful Company of Security Professionals Charitable Trust for the year ended 30 June 2025 which comprise the Statement of Financial Activities, Balance Sheet and notes to the financial statements, including significant accounting policies, set out on pages 20 to 29. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standard, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion We conducted 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 Charity 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 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 Charity'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 report.

Other information The other information comprises the information included in the Trustees’ annual report, other than the financial statements and our auditor's 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, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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.

Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

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INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF THE WORSHIPFUL COMPANY OF SECURITY PROFESSIONALS CHARITABLE TRUST

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Responsibilities of Trustees As explained more fully in the Trustees’ responsibilities statement, the Trustees 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 Charity’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 Charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. 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. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance when it exists. Misstatements can arise from fraud or error and with ISAs (UK) will always detect a material misstatement 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:

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

AD

02 Oct 2025

THE WORSHIPFUL COMPANY OF SECURITY PROFESSIONALS CHARITABLE TRUST

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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Restricted|General|Total|Total| |funds|fund|funds|funds| |2025|2025|2025|2024| |Note|£|£|£|E| |Income|from:| |Donations|and|legacies|2|18,606|17,817|36,423|35,462| |Charitable|activities|3|0|15,731|15,731|9,992| |Investments|4|0|28,006|28,006|21,262| |Total|income|18,606|61,554|80,160|66,716| |Expenditure|on:| |Raising|funds|5|0|19,245|19,245|15,078| |Charitable|activities|22,365|64,031|86,396|85,053| |Other expenditure|0|4,366|4,366|1,288| |Total|expenditure|6|22,365|87,642|110,007|101,419| |Net|income/(deficit)|before|investment| |gains|(3,759)|(26,088)|(29,847)|(34,703)| |Net|gains|on|investments|0|34,290|34,290|95,442| |Net|income|/|(expenditure)|before|other| |recognised|gains|and|losses|(3,759)|8,202|4,443|60,739| |Net|movement|in|funds|(3,759)|8,202|4,443|60,739| |Reconciliation|of|funds:| |Total|funds|brought|forward|88,193|939,585|1,027,778|967,039| |Total funds carried|forward|84,434|947,787|1,032,221|1,027,778| |The|notes|on|pages|19|to|26|form|part|of these|financial|statements.|

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THE WORSHIPFUL COMPANY OF SECURITY PROFESSIONALS CHARITABLE TRUST

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|||||||| |---|---|---|---|---|---|---| |BALANCE|SHEET| |AS|AT|30|JUNE|2025| |2025|2024| |Note|£|£|£|£| |Fixed|assets| |Investments|8|1,010,011|1,047,687| |Current assets| |Debtors|9|5,142|1,400| |Cash|at|bank and|in|hand|38,989|15,398| |44,131|16,798| |Creditors:year|amounts|falling due within one|10|(21,921)|(36,707)| |Net|current|assets|22,210|(19,909)| |Net|assets|1,032,221|1,027,778| |Charity|Funds| |Restricted|funds|11,12|84,434|88,193| |General|fund|11,12|947,787|939,585| |Total funds|1,032,221|1,027,778|

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The financial statements have been prepared in accordance with the provisions applicable to small entities within the Charities Act 2011, and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved by the Trustees on 18 September 2025 and signed on their behalf, by:

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a ae
jo
4 Ashley Fernandes
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Chair of Trustees

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| Nae) 4
Peter Fraser-Hopewell CMG OBE
Trustee
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The notes on pages 19 to 26 form part of these financial statements.

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: THE WORSHIPFUL COMPANY OF SECURITY PROFESSIONALS CHARITABLE TRUST | NOTES TO THE FINANCIAL STATEMENTS | FOR THE YEAR ENDED 30 JUNE 2025 ee | SS | 1. Accounting policies

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1.1 Basis of preparation of financial statements

The financial statements have been prepared to give a 'true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by 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 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.

The Worshipful Company of Security Professionals Charitable Trust constitutes a public benefit entity as defined by FRS 102.

1.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds relate to donations received or funds raised for specific purposes.

Security Benevolent Fund (SBF)

A service to provide Liverymen, Freemen, and members of the security profession, including members of the Charity, and their families with medical and health related guidance and support.

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Disney Fund

A fund to provide Taxis and associated support for Children with life threatening illnesses to visit Disneyland Paris in the Worshipful Company of Hackney Cab Drivers' annual appeal.

Per Loof Travel Bursary Fund

A fund to pay for the travel by Apprentices to Apprentice, Company and related events.

Investment income, gains and losses are allocated to the appropriate fund.

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THE WORSHIPFUL COMPANY OF SECURITY PROFESSIONALS CHARITABLE TRUST

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

ue Accounting policies (continued)

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.

Donated services or facilities are recognised when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Charity of the item is probable and that economic benefit can be measured reliably.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the Charity which is the amount the Charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the submission of the Gift Aid Claim to HMRC.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Where incoming resources have related expenditure, the incoming resources and related expenditure are reported gross in the Statement of Financial Activities.

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive 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 is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.

Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the Charity's educational operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.

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THE WORSHIPFUL COMPANY OF SECURITY PROFESSIONALS CHARITABLE TRUST

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1. Accounting policies (continued)

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of financial activities.

1.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank.

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity | goodsanticipatesor servit w i llcespayit mustto settleprovide.the debtProvisions or the amountare measuredit has receivedat the asbest advancedestimatepaymentsof the amountsfor the | requiredis based to settleon the present the obligation.value of Where those theamounts, effect ofdiscounted the time valueat the ofpre-tax moneydiscountis material,rate thethat provisionreflects | the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.10 Cash flow

The financial statements do not include a Statement of cash flows because the Charity, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Financial Reporting Standard 102 Section 1A - small entities.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

  1. Income from donations and legacies

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2.|Income fromfrom donations and legacies||| |---|---|---|---| ||||Restricted|General
Total
Total| |||funds|fund
funds
funds| |||2025|2025
2025
2024| ||
£
£
£
£|||| ||
Donations
18,606
17,817
36,423
35,462
Similar incoming resources
0
0
0
0|||| |||Totaldonationsandlegacies|18,606|17,817
36,423
35,462| ||In 2024, of the total income from donations and legacies, £27,329||was to general funds and £74,133was| ||to restricted funds||| |3.|Incomefromcharitableactivities|||

Restricted General Total Total
funds fund funds funds
2025 2025 2025 2024
£ £ £ £
Membership fees 0 15,731 15,731 9,992

In 2024, of the total income from charitable activities, £9,992 was to general funds and £N/L was to restricted funds.

4. Investment income

Investment incomeincome
Restricted General Total Total
funds fund funds funds
2025 2025 2025 2024
£ £ £ £
Investment income- local listed
investments 0 28,006 28,006 21,262

In 2024, of the total investment income, £27,262 was to general funds and £NIL was to restricted funds.

Investment management costs

Restricted General Total Total
funds fund funds funds
2025 2025 2025 2024
£ £ £ £
Investment management fees 0 19,245 19,245 15,078

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THE WORSHIPFUL COMPANY OF SECURITY PROFESSIONALS CHARITABLE TRUST

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

6. Analysis of resources expended by expenditure type

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Other|costs|Total| |2025|2024| |£|£| |Expenditure|on|investment|management|19,245|15,078| |Raising|funds|19,245|15,078| |Grants|78,034|76,853| |Expenditure|on|governance|8,362|8,200| |Other expenditures|4,366|1,288| |110,007|101,419| |Analysis|of|resources|expended|by|expenditure|type|continued| |Grants|to|institutions|analysis| |2025|2024| |£|£| |General|Fund| |Other|grants|to|institutions|(19|grants|in|the|current year,|21|grants|in| |the|prior year)|20,169|24,661| |Harris|Garrard|Academy|(previously|Bexley|Business|Academy)|8,000|8,000| |Friendship|Works|(Part|of|Family|Action)|5,000|5,000| |EY|Foundations|Next|(Secure|Future)|0|2,200| |P-VAWG|10,000|4,730| |PTSD|5,000|5,000| |Invisible|Walls|0|5,000| |Rising|Sun|0|5,000| |Disney|Fund|(Worshipful|Company|of|Hackney|Carriage|Drivers)| |Disney|Trip|13,800|6,000| |Security|Benevolent|Fund|7,517|2,800| |Per|Loof Travel|Bursary|Fund|1,048|462| |Total| |Grants|to|individuals|analysis| |2025|2024| |£|£| |Sheriffs’ Award|7,500|8,000|

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

7. Trustees and Employees

The Charity has no employees. The Charity has a maximum of twelve Trustees at any time. During the financial year there were between nine and twelve Trustees. During the year, no Trustees received any remuneration, benefits in kind or reimbursement of expenses (2024 - £Nil)

8. Fixed asset investments

Investments at market value comprise:

Overseas 2024
£ £
Listed investments 1,047,687
Market Value
At 1 July 2024 1,047,678
Additions
Disposals		 27,681
(69,961)
Capital Account movement
Revaluations		 (4,758)
9,361
At30June2025 4,010,011

Valuation

Valuation is provided by the fund manager, EFG Private Bank Limited.

9. Debtors

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2025 2024
£ E
Trade debtors 1,281 1,249
Other debtors 3,727 0
Prepayments and accrued income 134 151
5,142 1,400
Creditors: Amounts falling due within one year
2025 2024
£ £
Trade creditors 1,050 1,050
Other creditors 1,362 1,376
Accruals and deferred income 19,509 34,281
21,921 36,707

10. Creditors: Amounts falling due within one year

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

11. Statement of funds

Statement of funds - current year

|||Statement of fundsfunds - current|year||||||| |---|---|---|---|---|---|---|---|---| ||||Balance at|||Gains/||Funds|Balance at
30June| |||1 July 2024|Income|Expenditure|(Losses)||Transfer|2025| |||£|£|£|£|||£| |||General fund|||||||| ||General Funds- all funds|939,585|61,554|87,642|34,290||0|947,787| |||939,585|61,554|87,642|34,290||0|947,787| ||Restricted funds|||||||| ||SBF|76,517|7,211|7,517||0|0|76,211| ||Disney Fund|2,845|11,395|13,800||0|0|440| |||Per LoofTravel Bursary Fund|8,831
88,193|0
18,606|1,048
22,365||0
0|0
0|7,783
84,434| ||Total offunds|1,027,778|80,160|110,007|34,290||0|1,032,221| ||12.
Analysis of net assets|between funds||||||| |||Analysis of net assets between funds - current year|||||||| |||||Restricted||General||Total| |||||funds|||fund|funds| ||||||2025|||2025|2025| ||
£
£
£||||||||| ||
Fixed asset investments
1,010,011
1,010,011||||||||| ||Current assets||||84,434||(40,303)|44,131| ||Creditors due within one year||||||(21,921)|(21,921)| |||||||84,434||947,787|__—1,032,221|

Analysis of net assets between funds - prior year

Restricted General fund Total
funds funds
2024
£		 2024
£E		 2024
E
Fixed asset investments 1,047,687 1,047,687
Current assets 88,193 (71,395) 16,798
Creditors due within one year (36,707) (36,707)
88,193939.585 939.5851,027,778 1,027,778

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