Charity registration Dumber 1105785 Company registration number 05018032 (England and Wales) GLOBAL SOCIAL IMPAcr ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 'ADXRKTIR* 0610312025 COMPANIES HOUSE UHY A07
GLOBAL SOCIAL IMPACT LEGALAND ADMINISTRATIVE INFORMATION Trustees D L Miller L Balbo S J R Dawson A T Miller E D H Miller J M Minots Secretary D L Miller Charity number 1105785 Company number 05018032 Registered olee Quadrant House - Floor 6 4 Thomas More Square London Elw IYW Independent examiner UHY Hacker Young 14 Park Row Nottingham NGI 6GR Bankers HSBC Bank PIC Church Street Weybridge Surrey KT13 8DF InvestmeDt gdvisors Merrill Lynch, Plerce, Fenner & Smith Incorporated One Federal Street, 24th Floor Boston Massachusetts 02110 USA
GLOBAL SOCIAL IMPACT CONTENTS Page Trustees, report Independent examinerfs report Statement of financial aclivities Balance sheet Notes to the financial statements 9- 15
GLOBAL SOCIAL IMPACT TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2024 The TrusteeslDirectors are pleased to present their ninereenth report along with the financial slatemenls of the charity for the year ended 30 June 2024. The financial statements have been prepared in accordance with ihe accounling policies set out in note I to the financial statemenls and comply with the charity's constitution dated 14 July 2004, the Companies Act 2006 and "Aeeounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" Objectives and activities Global Social Impact ("GSI") is a non-government organisation originally working on a pan-European basis to promote Ihe development and expansion of venture philanthropyl social enterprise within Europe. In 201012011 this mission was enlarged to include development of venture philanthropy ( VP") social enterprise also on a pan-Asian basis. This is being conducted by the Asian Venture Philanthropy Network ("AVPN") wilh the financial support of GSI. GSI has subsequently expanded further, implementing additional efforts to help establish new organisations in Africa and Latin America, and has started due diligence on several countries both Eastern Europe and in the Middle East. GSI has more recently taken a keen interest in how the above networks, and others work together to achieve global knowledge exchange and Collective impa¢l. In 2022 work began in the US and the UK to support disabled Military veterans - a few small donations were made, and we are going up the learning curve to more substantial efforts. In 2023 further donations were made in both UK and USA. Vision of GSL includes: Th¢ development of a diverse marketplace for accessing human, financial and intellectual Capital for non-profits and social enterprises at all stages of their development. Growing the role for venture philanthropyl social investment which ¢omplements and strengthens traditional forms of funding from foundations and governments. Promoting the expansion of venture philanthropyl social enterprise throughout Europe, Asia, Africa and Latin America. We will also support the Tegional organisations to collaborate, learn, implement new programs; Promoting standards of best practice and knowledge-sharing for all parties to use in their venture philanthropyl social investment activities. Promoting collaborations between different players across the whole ecosystem and across the Continuum of Capital. Selectively supporting early stage charitiesl social enterprises primarily in the fields of children, education and dAsabilities' The support of organisations which deliver support to Military veterans facing challenges caused by disability. This effort continues to expand. and The support of organisations focused on developing opportunities for Native Americans. Several significant programs are in Discussion with Universities around Scholarships to Support Elementary ED Teachers.
GLOBAL SOCIAL IMPACT TRUSTEES, REPORT ONCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Publie benefit In administering the charity, the Board of Trustees has complied with section 17 (5) of the 201 I Charities Act, having due regard for the Public Benefit guidan¢e published by the Charity Commission. A summary of our key objectives and their application are summarised above and demonstrated in our achievements for the year described below. Wilh the growth of the Gsl actlvllies. the development of the AVPN and the launch of the Indian activity, and the development of Africa and Latin America, substantial benefits accrue directly to our members (now part of Impact Europe, African Venture Philanthropy Association ("AVPA"), AVPN and LATIMPACTO) and also lo the numerous charitable groups which our members engage with on a direct basis. The specific benefits to the public arise from the value of enhancing the operational effectiveness of charities through improved strategic and operational management, improving efficiency and effectiveness and obtaining more impact for each charitable grant (investment) made. There is also a cross-border and cross- fertilisation benefil to all members and to the public at large for the sharing of ideas and best practices in how to effectively address critical social issues and achieve more social benefit from the charity sector to the public. The developing operations in Africa, Latin America, and the potential extension to the Middle East and North Africa (MENA) will rther enhance our public benefit creation around Ihe world. THE MENA program has been launched wilh MAJOR funding coming from the EEU.
GLOBAL SOCIAL KMPACT TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Achievements and performance GSI h&% been helping the development of the 4 regional networks the work of which is reflected below. all are registered Charities in their respective continents. Impact Europe which is headquartered in Brussels. This organisation conlinues to do well with a team of 30+ and wilh over 350 members across 32 European countries. With the support of the EEU, it's expanding it5 activities fijrther eastward into Ukraine, Romania, Azerbaijan and several other countries. MENA work is now underway with EEU support. Part of GSI'S support to Impact Europe is around fund forniation, over the last several years this has led to the establishment of VP funds in Poland, Estonia, Bosnia-Herzegovina. More recently, our support has seen a fund established in Serbia with a possible fund under consideration in Ukraine. This was launched in 2023 and is operational with obviou5 ditTiculty. In general, GSI puts up around 15 % - 200/0 of the initial money and Impact Europe supplies human capital support. AVPN has been successfully launched by GSI and is headquartered in Singapore. They presently have over 650 members in 32 countries. During 2021 they received GSI 5UPPOrt for the launch of new initiatives around gender and environment. The AVPN sponsored a new association to be forn)ed in India initially lo be called AVPN India but over time to possibly migrate to an independent association. No Gsl support wa5 made to India this year. GSI has done considerable work during 2017-2021 to catalyse and facilitate the establishment of the AVPA. Over that period, multiple trips have been made for a total of over 225 days. During those trips, over 1,000 individuals haven been met from roughly 300 organisations. Impact Europe and AVPN have also hosted delegations from Africa at their annual conferences. An independent board has been forn]ed in Africa and work is progressing on fundraising from both international and African sources, The AVPA has its own independent legal structure with HQ in Kenya and regional offices and team members in South Africa and Nigeria. These offices also service surrounding countries. The CEO is in place and activity is taking place across Ihe region the AVPA is now open for membership with around 30 members; and GSI supported the initial work of building and launching a new network in Latin America. LATIMPACTO was successfully launched and opened for membership in June 2021 wilh 60 initial members. This is now expanded to over 170 members and a leam of 12 which is in process of expanding further. GSI continues to fund aspects of Latimpa¢to's development. Financial review Total incoming resources for the year were £186.283. Total expenses were £740,597 primarily relating to charitable activities in relation lo consultants beginning work on due diligence and marketing of the African effort and initial work on the Global Alliance of Impaci Networks ("GAIN") and LATAM effort. Consultants are also hired to explore the work with disabled veterans and indigenous Americans. We are ramping up work with USIUK vets so incurring more investment in the research and Team. The net income for the year was £569.979 (2023.. £345,990). Unrestricted funds at ihe year-end are £10,118,002 (2023: £9,548,023). As at 30 June 2024, GSI h&8 £10,118,002 in unrestricted funds. Almost all of this is in cash and is invested in bank deposits with an investment manager. The intenlion is to continue to invest this in the next financial year into a diversified portfolio of publicly traded companies in the UK, Europe, US and emerging markets. The GSI policy is to have reserves equivalent lo at least six months of projected operating expenditures. Since GSI has minimal fixed expenses and few forward contractual obligations, the Irustees feel comfortable with the level of reserves available. GSI has been in discussion with Fidelity and will likely transfer some of its inveslment funds to diversify risk. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that Systems are in place to mitigate exposure to the major risks.
GLOBAL SOCIAL IMPACT TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Future plans For the period l July 2024 to 30 June 2025 the primary activity will focus on the following.. Gsl will explore limited and focused activity within the US and to work with Disabled VETS as well as Indigenous Americans and will reach out for further partners around the globe to help expand the VP model and impact. This will extend to support for new VP Funds. particularly in countries wilh no or limited activity in the sector. Struclure? governance and man4gement The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were.. D L Miller L Balbo S J R Dawson A T Miller E D H Miller J M Minots Appoinfmenl Trustees The Directors of the charitable company ("the charity") are the trustees for the purpose of charity law and throughout this report are collectively known as the Trustees. GSI presently has a Board of six Trustees, three of whom were three of ihe five original European Venture Philanthropy Association founders. Our trustees are located in Italy, UK and the US, 3 have a long history in private equity and in venture philanthropy in Europe and Asia. Organisaiion and Management GSI is run on a day-to-day basis by the Executive Chairnlan with the support of paid consultants who work on a part-time basis. Many previous consultants have now moved to being employed by the AVPN or LATIMPACTO or GAtN. Other consulfanis are presently assisting GSI but on a pro bono basis. Presently, this work is primarily focused on Africa and Latin America bul also preparing GSI and GAIN for further expansion with work also in MENA. Plans are in place to recruit more consultants to aide with the helping of disabled veterans and indigenous Americans.
GLOBAL SOCIAL IMPACT TRUSTEES, REPORT ONCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Statement of trustees, responsibilities The trustees, who are also ihe director5 of Global Social Impact for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom A¢counting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year whi¢h'give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to: Select suitable accounting policies and then apply them consistentlyg observe the methods and principles in Ihe Charities SORP. make judgements 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 the going ¢on¢¢rn basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. 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. The trustees, report was approved by the Board of Truslees. D L Miller Chairnian Dated: 21 February 2025
GLOBAL SOCIAL IMPACT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GLOBAL SOCIAL IMPACT I report to the trustees on my examination of the financial statements of Global Social Impact (the charity) for the year ended 30 June 2024. ResponsibÈlitles and bayi$ of report As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act), Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission und¢r seclion 145(5)(b) of the 2011 Act. ndependent examiner's statement I have completed my exarnination. I confirni thal no matters have come to my attention in connection with the examination giving tne cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or the financial statements do not accord with those records. or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Acl other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. or the financial slatements have not been prepared in accordance with the methods and principles of the Staiement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their a¢¢ounts in accordan¢e wilh the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with ihe examination to which attention should be drawn in this report in order to enable a proper understanding of the f5nancial Statements to be reached. David Allum FCCA UHY Hacker Young 14 Park Row Nottingham NGI 6GR Dated: 3 March 2025
GLOBAL SOCIAL IlklPACT STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCO1 AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024 Unre$tritted Unrestri¢ted funds funds 2024 2023 Notes Income from: Investments 186,283 169,719 Total income 186,283 169,719 Expenditure on: Raising funds Charitable activities 119,610 620,987 105,864 566,888 Total expendlture 740,597 672,752 Net gains/(losses) on investments ,124,293 849,023 Net income and movement In funds 569,979 345,990 Reconciliation of funds: Fund balances at l July 2023 9,548,023 9,202,033 Fund balances at 30 June 2024 10,118,002 9,548,023 The statement of financial activities in¢ludes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
GLOBAL SOCIAL IMPACT BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Notes Flxed assets Investments io 10,069,491 8,779,872 Current s$et$ Debtors falling due after one year Debtors falling due within one year Cash at bank and in hand li li 41,424 16,087 40,217 25,913 719,241 57,511 785.371 Creditors; amounts falling due wlthin one year 12 (9,000) (17,220) Net current assels 48,511 768,151 Total assets less Current liabilities 10,118,002 9,548,023 The funds of the charity Unrestricted funds 13 10,118,002 9,548,023 10,118,002 9,548,023 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respecl to accounting records and the preparation of financial statements. The members have not required'the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These fjnancial statemenls have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on 21 February 2025 D L Miller ChAirmn Company registration number 05018032 (England and Wales)
GLOBAL SOCIAL IMPACT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies Charlty information Global Social Impact is a private company limited by guarantee incorporated in England and Wales. The registered olCe is Quadranl House - Floor 6, 4 Thomas More Square, London, El W l YW. 1.1 Accounting convention The financial statements have been prepared in ac¢ordan¢e with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland" ("FRS 102") and the Charilies SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" The charity is a Public Benefit Entity as d¢fin¢d by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts'in these fjnancial statement5 are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below. 1.2 Going concern At the tlme of approving the financial statements, the trustees have a reasonable expectation that the charity ha5 adequate resources to continue in operational existence for the foreseeable future. Thus the trustees conlinue to adopt the going concern basis of accounting in preparing the financial statements. The charity will continue to be supported by its trustees to ensure that it meets its liabilities as they fall due. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees in furtheran¢e of their charitable objectives. Restricted funds are subject to speclfic conditions by donors or grantors as to how Ihey may be used. The purposes and uses of the restricted funds are sel out in the notes to the financial statements. 1.4 Income Donations and other voluntary income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. 1.5 Expenditure Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenditure is accounted for on an accruals basis and h&$ been classified under headings that aggregate all costs related to the category.
GLOBAL SOCIAL IMPACT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies (Continued) Grants payable are payments made to third parties in the furtherance of the charitable objectives of the charlty. Grants awarded are accounted for where either the Trustees have agreed to pay the grant without condition and the recipient has a reasonable expectation that they will receive a grant, or any condition attaching to the grant is outside the control of the charity. Governance and support costs comprise all costs involving the public accountability of the Charity and its compliance with regulalion and good practice, including all management and administrative cosls. All governance and support costs are incurred in connection with charitable activities and have been allocated a¢¢ordingly. 1.6 Fixed asset investments Fixed asset investments are initially me&sured at total transaction prices for all securities purchased on a monthly basis due to the high level of of low value individual transactions in the period. They are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction cosls are expensed as incurred. The result of recording the transactions in bulk would not differ malerially from recording the individual trades. 1.7 Cash And cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, Other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Finaneial instruments The charity has elected to apply the provisions of Section I I 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments ls5ues' of FRS 102 to all of its financial instruments. Financial instruments are re¢ognised in the charity's balance sheet when the charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right to set off ihe recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Boslcfinanclal assets Basic financial assets, which include debtors and cash and bank balances. are inilially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest melhod unless the arrangement constitutes a financing iran5action, where ihe transaction is measured at the present value of the future receipts dis¢ounÉed at a market rate of interest. Financlal assets Classified as receivable within one year are not amortised. io-
GLOBAL SOCIAL IMPACT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies (Continued) Boficfinoncial liabililies Basic financial liabilities, including creditors are initially recognised al transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year. Debi instrumenls are subsequently carried al amortised cost, using ihe effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabililies if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade Creditors are recognised initially at transaction price. 1.9 Foreign exchange Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions, Al each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated al the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss. Invutments Unrestrieted funds Unrestricted funds 2024 2023 Income from listed investments Interest receivable 184,039 2,244 168,542 1,177 186,283 169,719 Raising funds Unrestricted funds Unrestricted funds 2024 2023 Investment management charge5 119,610 105,864 119,610 105,864
GLOBAL SOCIAL IMPACT NOTES TO THE FINANCIAL STATEMENTS (CONTIIYUED) FOR THE YEAR ENDED 30 JUNE 2024 Expendlture on charitable activities Unrestricte Unrestricte d funds d funds 2024 2023 Direct costs Consultancy Pension scheme (Profil)1105s on foreign exchange Bank charges Donations to EVPA Donations to AVPN Other charitable donations Donations to GAfN Donations to Lalimpacto Donations to Social Impact Partners 49.058 349 104 7,984 716 845 6,844 55,712 399,029 85,065 (4,834) 245 33,737 374,933 79,424 79,424 611,987 556,648 Share of support and governance Costs (see note 5) Govemance 9,000 10,240 620,987 566,888 Angly$is by fund Unrestricted funds 620.987 566,888 Support costs 2024 2023 Accountancy 9,000 10,240 9,000 10,240 Analysed between Charitable activities 9,000 10,240 All govemance and support costs are incurred on charitable activities and have been allocated accordingly. 12
GLOBAL SOCIAL IMPACT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. Employees There were no employees during the year. The administrative and daily running of the charity is being undertaken on a voluntary basis by the Trustees and paid consultants. There were no employees whose annual remuneration was more than £60,000, Net gainsl(los$es) on investments Unrestricted Unre$tri¢t¢d funds funds 2024 2023 Revaluation of investments Gainl(loss) on sale of investments 842,985 281,308 1,090,119 (241,096) 1,124,293 849,023 Taxalion The charity is exempi from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. As a charity, the organisation is exempt from UK corporation tax to the extent that its income is applied to its charitable objects. No liability arose in the period. 13
GLOBAL SOCIAL IMPACT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 10 Flxed asset investments Listed investments Cash in porlfollo Total Cost or valuation At l July 2023 & 30 June 2024 Unrealised gains Realised losses Foreign exchange differences Invesitnent income Investment portfolio changes Cash in lieu of shares 8,070,676 1,512,345 (241,096) (393,265) 709,196 8,779,872 1,512,345 (241,096) (424,078) 168,542 (105,864) 1,852 (30,813) 168,542 (105,864) 1,852 Carrying amount At 30 June 2024 8,948,660 742,913 9,691,573 At 30 June 2023 8,070,676 709,196 8,779,872 11 Debtors 2024 2023 Amounts falling due within one year: Other debtors 16,087 25,913 2024 2023 Amounts falling due after more than one year: Other debtors 41,424 40,217 Total debtors 57,511 66,130 12 Creditors: amounts falling due wlthln one year 2024 2023 Accruals and deferred income 9,000 17,220 14-
GLOBAL SOCIAL IMPACT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 13 Unrestricted funds The unrestricted funds of the charity cornprise the unexpended balances of donation5 and grants which are not subject to spe¢ifi¢ Conditions by donors and grantors as to how they may be used. These include designated funds which have been sel aside out of unrestricted funds by the trustees for specific purposes. At l July 2023 Ineoming Resourees resources expended Gains and At 30 June lo$$e$ 2024 General funds 9,548,023 186,283 (740,597) 1,124.293 10,118,002 Previous year: At l July 2022 Incoming Resources resources expended Gains and At 30 June losses 2023 General funds 9,202,033 169,719 (672,752) 849,023 9,548,023 14 Company limited by guarantee The limit of the total guarantees of the members of the company amounted to £6 at the beginning of the year and £6 at the end of the year. 15 Related pirty transiclions During the year donations of £Nil (2023: £399,029) were made to GAtN of which Douglas Miller is also a trustee. During the year donations of £Nil (2023.. £6,844) were made to AVPN, £33.737 (2023.. £845) were made to EVPA, £Nil (2023; £Nil) were made to AVPA, £79,424 {2023: £85,065) were made to Latimpaclo and £79,424 (2023.. £Nil) were made to Social Impact Partners, all of which are relaled charities. 15