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2025-12-31-accounts

CHEM TRUST | REPORT OF THE TRUSTEES

Annual Report 2025 Report and Financial Statements For the Year Ended 31 December 2025

Company Number: 5933897 Charity Number: 1118182

CHEM TRUST | REPORT OF THE TRUSTEES

Contents

Reference and Administrative Information..03 Chair’s Foreword ......................................................... 04 Trustees’ Annual Report ......................................... 06 Independent Auditor’s Report ............................ 23 Statement of Financial Activities .27 (Incorporating an Income and Expenditure Account). Balance Sheet ................................................................ 28 Statement of Cash Flows ....................................... 29 Notes to the Financial Statements ................... 30

chemtrust.org

Charity No: 1118182 | Company No: 05933897

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Reference and Administrative Information

Registered Company Number

05933897

Country of Incorporation United Kingdom

Charity Number 1118182

Country of Registration England & Wales, Scotland or Northern Ireland

Registered Office and Operational Address

Impact Hub London Euston, 1 Triton Square, London, NW1 3DX

Trustees

Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Senior Management Team

Bankers

The Co-Operative, Bank, PO Box 101 1 Balloon Street, Manchester, M60 4EP

Insurance Brokers

PIB Insurance Brokers, Southgate House, Southgate Street, Gloucester, GL1 1UB

The Trustees Present Their Report and the Audited Financial Statements for the Year Ended 31 December 2025.

Reference and administrative information set out on page 3 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Auditor

Sayer Vincent LLP Chartered Accountants and Statutory Auditor 110 Golden Lane LONDON EC1Y 0T

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Chair’s Foreword

Chemical pollution is deeply interwoven with many environmental and health crises, yet it remains the Cinderella issue, often overlooked.

For example, just one group of harmful chemicals, per- and polyfluoroalkyl substances (PFAS), are a family of over 10,000 highly persistent chemicals. They are also known as ‘forever chemicals’ because they may take generations to break down in the environment. Science shows that PFAS contamination of our rivers, drinking water, wildlife, and ourselves is an urgent crisis that requires action.

Chemical pollution is as grave a threat as climate change and as difficult to tackle, if not more so, because it flies under the radar for most consumers and is a long-term issue that governments and regulators can struggle to address.

CHEM Trust works tirelessly to reverse the pollution tide by calling for the phasing out of the most harmful chemicals and replacing them with safer alternatives. This is vital to protect human health, the natural world and all future generations.

We were extremely busy in 2025, with many successes, including the new EU Toy Safety Regulation. This new law introduces a range of measures to better protect children from some of the most harmful chemicals in toys. Given children are at a critical developmental stage, this is a vital area for protection.

Following our achievement in securing a stronger legal classification for known and suspected endocrine disrupting chemicals (EDCs), we are now seeing this classification applied to more chemicals. This will lead to greater protection for ourselves and for wildlife from these harmful chemicals.

An important CHEM Trust activity in the past year was our agenda-shaping conference in Brussels on the need for stronger, bolder chemical regulation in the EU, where the Environment Commissioner delivered the keynote speech.

In the UK, the government has committed to align more closely with EU chemical laws after five years of falling behind and diverging from the world’s most robust protections from harmful chemicals. We are also continuing to highlight that a PFAS-free economy is possible by working with companies and medical practitioners who are leading the field in the innovation of PFAS alternatives in their sectors.

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Chair’s Foreword

Financial support for CHEM Trust continues to grow, and we are very grateful to our existing funders for their continued support, some increasing their funding significantly. This has enabled us to continue careful growth of the organisation and build our resilience and adaptability, which are clearly vital in this age of geopolitical uncertainty where misinformation and AI can undermine evidence-based decisionmaking.

Our engagement with the public through social media channels greatly expanded via Instagram and Bluesky, whilst the number of subscribers to our newsletters increased by 52%, our LinkedIn subscribers by 87%, and our website views by 42%. We are pleased by the increasing engagement across our online platforms, supported by efforts to expand our team and boost our online presence through appointing a dedicated Communications Officer. As public awareness of chemical pollution rises, so too does the opportunity to translate that concern into policy changes.

There is still much more for us to do. In 2026, we are pushing for the strengthening of the Regulation on the Registration, Evaluation, Authorisation, and Restriction of Chemicals (REACH), the EU’s most important chemical regulation, and for the UK Government to align with EU chemical regulations. We will work tirelessly to keep the EU’s universal PFAS restriction proposal as robust as possible. To maximise our impact and efficiency, we will continue to build a strong NGO coalition on chemicals, which is particularly important given geopolitical uncertainty.

The growing media coverage of PFAS in our rivers and drinking water means that tackling chemical pollution is now high on the political agenda. The stakes are also high, as without action in these areas, we risk not only harming our own health but also leaving a growing toxic legacy to our children, grandchildren, and our natural world.

In 2027, CHEM Trust will be 20 years old, so in 2026, we are planning how to mark this important milestone. Since 2007, CHEM Trust has improved existing chemical management and scanned the horizon for where new focus is needed. We are respected and seen as a trusted partner with policymakers, other charities, scientists, consumers, and enlightened parts of industry that recognise the market advantage of producing greener products free from toxic chemicals.

We have a team of chemical policy experts, scientists and gifted communicators who have built and continue to build these important relationships, along with new ones. Our wonderful visionary funders recognise our unique and vital contribution to reducing harmful chemical pollution and support us year on year.

CHEM Trust is transitioning from a small to a medium-sized organisation with the expected opportunities and challenges this presents. I would like to thank my fellow Trustees, Senior Management Team and all our staff for their devoted attention to this vital stage of CHEM Trust’s development. I would like to say a special thanks to Dr Colin Church, Les Jones and Justin Wilkes, Trustees who played a pivotal role in the setting up and running of CHEM Trust and supporting me when I became Chair, and whose terms of office came to an end during the year.

Reading this Annual Report, with our 10 greatest successes over the last year, you can be assured that we remain deeply committed to this cause and will continue to campaign passionately and energetically for protective chemicals legislation that keeps us, future generations, and the natural world we live in, safe from harm.

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Trustees’ Annual Report

Our Vision

Our vision is a world where wildlife and people coexist with a sustainable chemical industry and where chemicals play no part in causing impaired reproduction, deformities, disease, or deficits in neurological function.

At CHEM Trust, we are committed to fighting the ongoing toxic chemical threat. No ocean or continent is free from pollution by harmful synthetic chemicals. All people and wildlife are at risk of contamination. Sampling has repeatedly found that 99% of people tested have harmful chemicals in their blood. Many of these chemicals are manufactured to persist, making them virtually indestructible in any environment, including inside us, where they accumulate throughout our lifetime.

Our planet is under catastrophic threat. The news cycle is never short of reports on ecological disasters, from raging wildfires caused by unchecked climate change to the extinction of more and more species stemming from destructive human practices. Our work addresses the chemical pollution crisis, which matches these other disasters’ harmful impacts but has a fraction of the public understanding, media coverage or financial support. However, over the last year or so, in part due to CHEM Trust’s work, there has been greater awareness and a better understanding of the PFAS ‘forever chemicals’ crisis we are facing in Europe and the UK.

Our team has several lifetimes of experience in chemical regulation. We have a unique blend of talent, knowledge, experience, and dedication, which breeds success. Opposition is often fierce, and the timelines are long, but we are passionate about the work we do, and our tenacity gets results.

Scientists have warned that we have exceeded the safe planetary boundary for chemical pollution, the limit at which the vital systems of the planet we rely on start to break down. The United Nations has also officially classified chemical pollution in the same category of global catastrophic threat as climate change and biodiversity loss. Current chemicals policy, no matter the region, lags years, sometimes decades, behind the most up-to-date science. While the new policy is slowly debated and repeatedly tweaked, the volume of toxic chemicals in our world, wildlife, and our bodies is rising. The time for debate is over; now it is time for action.

Our main focus is on endocrine disrupting chemicals (EDCs). These chemicals disrupt the exquisitely delicate endocrine (hormone) system, which controls fertility, reproduction, and behaviour and is inextricably intertwined with the immune and nervous systems.

Exposure to minuscule levels of EDCs can have catastrophic effects on humans and wildlife. In humans, this exposure may increase the risk of certain cancers, obesity, and diabetes.

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Trustees’ Annual Report

Our Vision

Exposure in the womb has been associated with ADHD and autism, and these chemicals have also been linked to declining sperm counts and fertility rates worldwide. Among land, freshwater, and marine wildlife, exposure to these chemicals has been linked to serious health issues, including causing male fish to produce female egg proteins, preventing killer whales from reproducing, and altering the reproductive organs of otters. Studies on other species worldwide – including polar bears, frogs, and porpoises – indicate that populations are buckling under the burden of chemical pollution. This pollution increasingly affects wildlife populations already driven to the brink of extinction by climate change and habitat loss.

EDCs are woven into the fabric of our modern society. They are found in children’s toys, clothing, cosmetics, cooking equipment, mobile phones, computers, furniture, food packaging, buildings and vehicles, to name but a few. It is too easy for harmful chemicals to be released into our world. They may leach out of a product through wear and tear, be discharged as waste during manufacturing, or be sprayed directly into the environment (as with fire-fighting foams). Once in the environment, these chemicals can accumulate in soils, rivers and the deep ocean; at this point, clean-up is nigh on impossible.

A study has estimated the cost of cleaning up and destroying all PFAS currently released annually (just one of the chemical classes we are concerned about) would likely exceed the planet’s entire GDP of US$106 trillion. This is why the tap must be turned off, and these chemicals must be regulated at source; strong laws are the only effective way to do this.

CHEM Trust, though small, makes a substantial impact. We collaborate with scientists who understand the complex effects of chemicals. We convert powerful scientific evidence into workable policies, which we advocate for legislators and regulators to implement to reduce pollution.

CHEM Trust’s focus is on EU policy. The EU is currently the global region with the most protective, effective and well-resourced chemical policy system; many of its laws are leaps and bounds ahead of the rest of the world, and while many further improvements are needed, it remains the global gold standard.

In this area the EU acts as a global guiding beacon; many of its regulations inspire and inform other systems worldwide. In the UK, we are working with coalition partners to ensure the UK government follows EU chemical laws because these are the best in the world.

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Trustees’ Annual Report

Our 10 Key Successes in the Last Year

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01
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Significant Step Towards Identifying Harmful Endocrine Disrupting Chemicals (EDCs) at the EU Level

In 2025, after years of successful campaigning, CHEM Trust and others have been supporting the EU in applying categorisation to specific chemicals, meaning some chemicals will officially be labelled as endocrine disrupting. Companies will have to clearly state this when they sell products containing EDCs. Other EU laws, we hope, will begin to limit or ban their use in certain products. Over time, this will push businesses to replace these chemicals with safer alternatives. This marks a significant step towards protecting people and the environment from the most harmful chemicals in consumer products.

EDCs interfere with the extraordinarily delicate endocrine (hormone) system of humans and wildlife. Disruption of this system can cause developmental issues, neurological damage, and decreased fertility. Even though they are linked to harmful health impacts, EDCs are still found in everyday products such as cosmetics, toys, electronics and food packaging.

02

Agenda-shaping Regulation on the Registration, Evaluation, Authorisation, and Restriction of Chemicals (REACH) Conference

In 2025, CHEM Trust and the Health and Environment Alliance (HEAL) convened an agendashaping conference in Brussels. The event brought together more than 200 participants, including EU and Member State policymakers, scientists, civil society

REACH is the EU’s primary and most important law governing chemicals. The law came into force in 2007. While it was groundbreaking at the time, it now needs modernising to reflect the latest science to better protect people, wildlife and the environment from harmful chemicals used in everyday products across the EU.

organisations, and representatives from industry and the health sector. It provided an important space to discuss the upcoming revision of REACH, exploring the opportunities and the challenges involved in strengthening the EU’s future chemicals rules.

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04
Strengthening Coalitions on
PFAS ‘Forever Chemicals’
One of the most notorious groups many wanting to continue using
of harmful chemicals is per- and them. A key argument is that there
are no alternatives for PFAS in
polyfluoroalkyl substances (PFAS).
They are better known in the public certain sectors. We’ve researched
domain as ‘forever chemicals’ these claims and continually
because they are virtually update our ‘PFAS FAQ’ with new
indestructible and will remain,
findings, showing alternatives are
accumulating in the environment, available. Over the last year, more
wildlife and humans for centuries. companies have been developing
Exposure to some PFAS has been PFAS alternatives, demonstrating
linked to adverse health effects, rapid innovation toward a PFAS-
such as the promotion of certain free economy.
cancers, disruption of the immune
PFAS-free alternatives are also
system, and reduced fertility. PFAS
available in the healthcare sector.
have been found in toothpaste,
In September, we held a webinar
make-up, frying pans, outdoor
alongside Tegengif and Health Care
03 Victory for Making Children’s Toys Safer clothing, mattresses, carpets,
Without Harm (HCWH), which drew
smartphones, food packaging, and
over 60 medical professionals,
Children are among the most CHEM Trust worked with partner many more items.
industry representatives, and
at risk from harmful chemicals, organisations to call on the
The EU has proposed banning policymakers, to raise awareness
as they are still at a critical European Parliament and Council
most of these harmful chemicals of both the risks of PFAS to our
developmental stage. For this to agree a revised Regulation in
across almost all uses. This health and of innovation away from
reason, it is extremely worrying April 2025, with both granting final
proposal faces strong opposition PFAS use in this sector.
that toxic chemicals are routinely approval for the law in October and
from the chemical industry, with
used in children’s toys, putting a November 2025.
vulnerable group at high risk of
CHEM Trust has dedicated years to
dangerous chemical exposure.
strengthening protections against
This is why it was excellent news EDCs, making the Toy Safety
when the EU Commission released
Regulation an incredibly significant
its proposed Toy Safety Regulation, and long-awaited victory that
which introduces a range of new serves as a beacon of hope for
measures to better protect children children’s health today and in future
against some of the most harmful generations.
chemicals in toys. This regulation
will ban chemicals classified as
known or suspected EDCs, a group
of bisphenols, and PFAS ‘forever
chemicals’.
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05
Contributing to Global Leadership
in Chemical Processes
Chemical pollution threatens
people and wildlife worldwide.
Therefore, we must work to ensure
that the best chemical legislation
is adopted globally. These
chemicals can disperse around
the globe, even reaching remote,
uninhabited places such as the
Arctic. This is truly a global issue.
We are involved in discussions
to improve the United Nations
Global Harmonised System (GHS)
to strengthen chemical hazard
management, contributing to
reports and discussions that lead to
better global controls.
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Contributing to Global Leadership in Chemical Processes

At the end of 2025, the Organisation for Economic Cooperation and Development (OECD) released a report emphasising the need to integrate the EU proposal on EDCs into the GHS framework. This incorporation would improve the management of endocrine disrupters and bolster global protection against hazardous chemicals. CHEM Trust contributed to the relevant OECD expert group that underscored the importance of managing EDCs worldwide and welcomes this development.

Alignment with the Highest Chemical Safety Standards

06

One of our main policy objectives has been to keep the UK aligned with the EU’s chemical safety regulations, which are currently considered the best in the world. This year, we have seen encouraging signs of progress.

trading partners, especially the EU, by 2028. This commitment signals that the UK is acknowledging that high levels of protection are both achievable and necessary. While delivery will be key, the direction of travel outlined in the EIP provides an encouraging foundation for future progress.

In December, the UK Government published its new Environmental Improvement Plan (EIP), setting out how it intends to restore and protect the UK’s environment. The plan includes a legal commitment to reduce people’s exposure to harmful chemicals and pesticides. Importantly, it promises to reform UK REACH, the UK’s main chemicals law, so that protections can be introduced more quickly and in closer alignment with key

CHEM Trust, through meetings with the government and regulators and in submissions to inquiries and consultations, has been calling for the UK to align more closely with the EU since we left the bloc. Therefore, we very much welcomed the reforms set out in the EIP.

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08
Building an Understanding of Chemical
Pollution with New Audiences
A vital part of our role is increasing past year. One of our most regular
the understanding of the chemical video formats is news story reels,
pollution crisis among diverse where we share the latest chemical
audiences. We use a variety of developments in digestible and
platforms to deliver our messages, accessible formats that resonate
including news articles and blog with our audiences. On LinkedIn,
posts on our website, presentations we have seen an 87% increase
and webinars, social media, and in followers, making it our fastest-
newsletters. CHEM Trust produces growing platform. Meanwhile, on
three newsletters covering harmful Bluesky, we have already seen a
chemicals in food packaging, EU 171% increase since its launch,
chemical regulations, and CHEM just over a year ago.
07
Bringing the Case Against PFAS Trust’s general activities.
We are encouraged by this growing
to the Heart of UK Politics
In 2025, we have expanded engagement across our online
our communications team and platforms. We are a respected
This year, we made sure the real- At the Liberal Democrat increased our investment in our and trusted source of information
world impacts of PFAS pollution, Conference, we looked at how online presence, enabling us in this area and are frequently
including the accumulation of these closer cooperation between the to focus on strengthening our approached by other NGOs and
chemicals in the environment and UK and the EU could help raise community and engaging with new opinion formers and the media
human bodies, were firmly on the environmental standards and better decision-makers, audiences, and for our views. As public concern
UK political agenda. control harmful chemicals. Both the wider public. about chemical pollution increases,
events attracted strong interest and so does the opportunity to turn
In September, for the fourth year Our social media channels have
senior political voices, showing that awareness into pressure for
running, CHEM Trust hosted events played an important role in this.
concern about PFAS is spreading meaningful policy change.
at both the Labour and Liberal On Instagram, we have seen a
across parties.
Democrat Party Conferences. 64% increase in our followers this
At the Labour Conference, we Our engagement with the UK
focused on the growing PFAS Parliament has grown. Over the
pollution problem and the need for past year, MPs have helped press
stronger government action. We the government for answers by
brought together MPs, including asking parliamentary questions and
one from a community directly raising the issue of PFAS directly
affected by PFAS contamination, with the minister responsible
and other experts to discuss the for chemicals. Step by step, the
issue. The conversation highlighted pressure to take meaningful action
that PFAS pollution is already to turn off the tap on harmful PFAS
impacting people’s lives here in the pollution is building.
UK.
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09

Thanking Our Funders

The highly technical nature of chemicals policy means finding and securing funding for CHEM Trust can be challenging, and our small team must work diligently and persistently to secure each available funding opportunity.

and we thank them. All have sustained their partnership with us, and many have increased their financial support, with some more than doubling their funding.

Looking forward, we plan to further boost our fundraising efforts by expanding our team. In 2026, we have hired a Philanthropy Manager to forge new partnerships and ensure we can continue to grow the resources needed to sustain and expand our vital work.

We are mindful of the necessity to secure long-term funding to sustain our work, particularly in the current geopolitical climate. We are extremely grateful to our funders, some of whom wish to remain anonymous, for their vision and patience in supporting our mission, which, they and we, understand may take years to advance. They are visionaries,

Growing and Strengthening Our Organisation

10

Over the past year, CHEM Trust has continued to grow and strengthen as an organisation. Our team has grown to 21, marking an important step in our transition from a small to a medium-sized organisation with greater capacity to deliver impact.

We have also strengthened our Senior Management Team to support our growth and to guide the implementation of our organisational strategy. Our strategy builds on CHEM Trust’s success and impact.

These changes are helping us build a stronger, more resilient organisation that is well-equipped to advance our mission of protecting people and the environment from harmful chemicals.

We had three new staff join the CHEM Trust team in 2025, including a new Senior EU Campaigner. Alongside new hires, several team members have taken on expanded roles through internal promotions, helping us retain expertise while building leadership from within.

Our intern programme is helping us address the difficulty of finding people with knowledge about chemical pollution by allowing us to ‘grow our own’. Our 2021 intern is now our Senior UK Campaigner, having grown in expertise over the years.

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Trustees’ Annual Report

CHEM Trust Europe

CHEM Trust Europe is our sister organisation, legally established in Hamburg, Germany. CHEM Trust Europe plays a crucial role within the CHEM Trust family, as Germany is the largest and most powerful EU Member State and has the most significant vote in decision-making. Germany also has the most significant chemical manufacturing industry of any nation within the EU. CHEM Trust will maintain and increase its presence here. We work closely together on EU policy and ensure our messages reach the public and decision-makers.

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01

Trustees’ Annual Report

Challenges

A Changing Political Context

Across the EU, political priorities continue to evolve and the situation in the Middle East is increasing uncertainty. Following the 2024 Commission and European Parliament elections, there has been a sustained shift toward deregulation and policies to address economic security, competitiveness, and industrial resilience, away from environmental and human health considerations. The implementation of the European Green Deal is now being eclipsed by the Clean Industrial Deal, which places greater emphasis on business competitiveness and the simplification of regulatory frameworks.

This has created both challenges and opportunities. While environmental ambition remains embedded in EU law, debates around ’simplification,’ reducing regulatory burden in industry, and competitiveness increasingly shape how legislation is implemented. The proposed universal restriction on PFAS ‘forever chemicals’ under the current Regulation on the Registration, Evaluation, Authorisation, and Restriction of Chemicals (REACH) continues to be negotiated, with significant pressure from industrial stakeholders to narrow its scope and expand exemptions.

Globally, multilateral cooperation remains fragile and is being continually tested. Chemical governance discussions under frameworks such as the Stockholm Convention on Persistent Organic Pollutants face geopolitical tensions, and international alignment on hazardous substances has become more complex.

These developments have not changed our goals, but they require us to adapt our methods and messages. In 2026, making the economic case for safer chemicals is more important than ever. We must clearly demonstrate that producing greener, safer products strengthens competitiveness, drives innovation, and reduces long-term health and environmental costs.

02 An Uncertain UK

The UK political landscape in 2026 presents a mixed picture. Since the change of government in 2024, the tone toward environmental and public health protections has improved, and dialogue with civil society has become more constructive. Alignment with EU chemical standards is increasingly politically plausible, particularly in areas where divergence creates barriers for business.

However, progress has been uneven. The UK’s post-Brexit chemicals regime continues to operate separately from the EU’s REACH system, creating duplication, cost and uncertainty for businesses. While some ministers have expressed openness to closer regulatory cooperation, structural alignment has yet to materialise.

At the same time, deregulatory pressures persist. Measures inherited from previous administrations, designed to reduce “regulatory burdens”, continue to influence policymaking. Major chemical industry bodies maintain strong opposition to broad restrictions, including the EU’s proposed group restriction on PFAS.

Our agenda also faces renewed pressure from economic growth strategies that frame environmental safeguards as obstacles rather than enablers. Without decisive action, UK citizens face continued and potentially increasing exposure to harmful chemicals, including PFAS and other persistent substances.

Despite resistance from vested interests, our mission remains essential. We confront complex scientific and political challenges with confidence grounded in robust evidence. Each incremental policy win strengthens protection for people and the environment. Step by step, we build momentum and lasting change.

Given the increasingly complex and uncertain geopolitical backdrop, we must redouble our efforts and use innovative advocacy tools to keep our priorities at the forefront of policymakers’ minds. We remain ready to defend laws that protect people and the environment from dangerous chemical pollution and to ensure that simplification does not become deregulation.

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Trustees’ Annual Report

Looking Ahead to the Next 12 Months

The policy landscape we work in is constantly shifting, and we need to be strategically focused while remaining flexible to deliver strong chemical regulation that protects people and wildlife from harmful chemicals.

Our external priorities next year will include:

Progressive Change in the EU.

05[ Take opportunities presented by, for example, ] revising product legislation, such as cosmetics or childcare products, to advance our agenda of preventing harmful chemicals from being used in consumer products.

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Trustees’ Annual Report

Looking Ahead to the Next 12 Months

Our external priorities next year will include:

Prevent the UK from Falling Further Behind the EU.

04[ Continue to advocate for UK action on ] PFAS, including aligning with the EU restriction, showcase alternatives to PFAS chemicals and raise public concern through advocacy and supporting media work.

Stronger Chemical Protections Worldwide

Now that the EU has introduced new hazard classes for EDCs into its Classification, Labelling, and Packaging legislation (CLP), the next step is to ensure these classes protect humans and wildlife from harmful chemical pollution by implementing these laws globally. In 2026, we will continue to support the Organisation for Economic Co-operation and Development (OECD) and Globally Harmonised System (GHS) processes to make the scientific case for adopting these classes. We will also continue to support NGO allies working specifically at the global level on chemical safety.

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Trustees’ Annual Report

Structure and Governance

Governing Document

The Memorandum and Articles of Association of CHEM Trust.

Organisation

Trustees are appointed based on relevant experience, including prior board-level roles where appropriate. All new trustees undertake a structured induction, and further training is provided where required to support their role.

The activities of CHEM Trust are overseen by the Trustees.

Organisational Structure of the Charity

Related Parties

The trustees consider that there are no related parties other than themselves.

The Board meets regularly throughout the year and is supported by sub-committees, including the Fundraising and Finance Committee, and the People and Governance Committee, which provide additional oversight in key areas. The Board retains overall responsibility for governance, strategic direction and financial oversight, while delegating day-to-day management to the Executive Director.

Selection and Appointment of Trustees

At the Annual General Meeting held on 30 September 2025, Colin Church, Justin Wilkes and Leslie Jones resigned from the Board of Trustees. Trustees are appointed in line with the organisation’s governing document and recruitment procedures, with the Board maintaining a balance of skills, experience and diversity to support effective governance. Candidates are assessed on their expertise, alignment with the charity’s mission, and ability to contribute to its strategic direction.

Risk Management

The Executive Director and Senior Management Team (SMT) own the organisation’s Risk Register. The currency of the risks stated, and their mitigation status, are reviewed regularly by SMT and by the relevant Sub-Committees of the Board, as well as by the Full Board annually. Key risks include governance capacity, funding uncertainty, reputational exposure, staff wellbeing and retention, reliance on systems and data, and external legal or regulatory challenges. These risks are mitigated through strong governance and trustee recruitment, clear strategic positioning with funders, income diversification and reserves management, robust policies and sign-off procedures, investment in staff support and succession planning, and secure IT systems with appropriate controls. Collaboration risks and external pressures are managed through clear priorities, proactive engagement, and careful oversight, ensuring the organisation remains resilient and focused on its mission.

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Trustees’ Annual Report

Financial Review

CHEM Trust’s finances were carefully managed throughout 2025, during a period marked by continued economic uncertainty, international tensions, and a complex policy environment. Against this backdrop, the organisation remained focused on delivering its strategic objectives, supported by a stable financial position.

Total income for the year was £1,480,000, representing a 12% increase on the £1,316,000 received in 2024. We continue to benefit from the support of a committed group of funders who recognise the significance of our work and its impact on human health, wildlife, and the environment. However, fundraising remains challenging. While we are supported by a range of trusts and foundations, the pool of funders prioritising chemicals policy is limited. In addition, reliance on a number of key multi-year grants introduces a level of uncertainty as these funding agreements come to an end.

Financial management across the organisation remains strong, with clear oversight and alignment to our strategic priorities. A Remuneration Committee has been established to oversee pay and reward across the organisation. The Committee meets annually to review and approve staff salaries and benefits, including the remuneration of senior staff. Remuneration is set with reference to the charity’s size, financial position and the wider sector, using appropriate benchmarking data to ensure salaries are fair, proportionate and aligned with the charity’s objectives. Trustees are responsible for approving the remuneration of the Executive Director, and robust procedures are in place to manage any conflicts of interest.

At the year end, total reserves were £1,110,193, all of which were unrestricted (free) reserves.

Investments

Our main bank account is with the Co-operative Bank, which has a strong commitment to corporate responsibility. We also hold accounts with Unity (current and savings), Triodos (savings), and Scottish Widows (savings). During the year, we explored ways to maximise returns on our funds while maintaining a high level of security. As a result, towards the end of the year we identified higher-interest savings options through Flagstone and have begun the process of transferring our savings into these accounts to increase interest income while ensuring the funds remain secure.

Expenditure in 2025 totalled £1,452,000, an increase of 19% compared with £1,220,000 in 2024. This reflects continued investment in our work, alongside challenges in recruiting and retaining staff with highly specialised skills. Despite this, the organisation has maintained a high standard of delivery across its programmes. The overall result for the year was a surplus of £28,000. This surplus strengthens our financial resilience and provides a modest platform for future growth and consolidation.

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Trustees’ Annual Report

Reserves Policy

Purpose

The context in which CHEM Trust works influences the management and stewardship of the charity’s reserves. The threat from chemicals is acknowledged to be extremely grave. CHEM Trust is the only charity focusing solely on chemicals in the UK, as well as having a strong presence in the EU. Funding for our work is difficult and often can take years to secure as our issue is highly technical and can be difficult to explain to a non-expert audience. Expertise in the sector is rare.

The charity holds reserves to provide funding to support the continuation of the charitable aims and objectives and the ability to meet financial commitments in the event of a significant unforeseen reduction in income or increase in operational costs.

Free reserves at year end were £1,110,193, equivalent to 9.2 months of expenditure. This level has been set in recognition of the uncertain nature of the charity’s income, given its highly technical focus and reliance on trust and foundation funding, alongside its ongoing expenditure and financial commitments.

shortage of expertise in chemicals policy and regulation, so it is essential that we both retain existing staff and remain able to attract specialist expertise where required.

In the event of a significant reduction in income, the Trustees consider that holding 9 months of operational costs (£1,088,250) in reserve provides an appropriate timeframe to secure alternative income streams and continue the charity’s work.

At the year end, free reserves stood at £1,110,193, equivalent to 9.2 months of expenditure, which is within the current reserves policy of maintaining 8–10 months of expenditure. As part of our fundraising strategy, we are taking steps to diversify our income, including increasing income from philanthropic giving. However, the trustees are satisfied that there are no material uncertainties around the ability of the charity to continue as a going concern.

Building of the Reserves

The long-term sustainability of an organisation is reliant on its ability to deliver and fund its strategy and manage unforeseen circumstances. Access to unrestricted retained funds is essential for maintaining financial health and operational flexibility. We aim to meet our reserves policy by accumulating unrestricted net balances whenever possible, without compromising our charitable objectives. Any shortfall in income from year to year could disrupt our operations. Hence, it is imperative to ensure we have a good level of reserves to fulfil our legal, compliance, and statutory obligations during such occurrences.

The charity has limited overheads relating to accommodation, as we operate from shared central office space. As a result, our primary financial commitments relate to personnel. There is a global

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Trustees’ Annual Report

Reserves Policy

Allocation of the Reserves

We intend to maintain an appropriate level of reserves to support the following financial and operational needs:

This allocation ensures our ability to fulfil any legal, compliance, and statutory obligations in the event of the outcomes of any identified risk factors or the potential closure of the organisation.

In managing our reserves strategy, CHEM Trust works in accordance with the recommendations provided by the Charity Commission. These guidelines emphasise considerations such as future strategy, cash flow projections, risk assessment, potential impact evaluation, and fundraising challenges.

Future Strategy – CHEM Trust aims for managed and sustainable growth and will continue to review this on an ongoing basis.

Future Cash Flow – We face an ongoing challenge due to peaks and troughs of multi-year and annual funding.

Risk and Potential Impact – Scientific and policy experts in the area of chemical pollution and management are very rare and often the organisation has to search for several years to find the best staff.

Fundraising Challenges – The issue of chemical pollution is enormously underfunded compared to the global threat it represents. Our reliance on a single source of income, Trusts and Foundations, renders us more susceptible to sector fluctuations. It is very difficult to understand the solutions which are highly technical in nature and often take many years to implement. CHEM Trust has very lengthy fundraising lead-in-times.

Authority, Monitoring and Reporting

Ongoing monitoring of the reserves is undertaken during the year by the Fundraising and Finance Committee. At the time of mid-year financial results when budgets are revisited, the reserve position, including how funds are allocated, is reported to the Board.

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Trustees’ Annual Report

Fundraising Strategy

Fundraising Strategy

Aside from our initial start-up grant from WWF-UK in 2007, the majority of our funding has come from trusts and foundations, mainly based in the UK, EU and US. We are starting to investigate new funding streams but we are at a very early stage of doing this.

Funders may request specific, short-term outcomes to be delivered within a short period. We cannot promise a certain chemical will be banned within a particular timeframe, much as we would like to do so. Each year, the plan we follow is to try to retain our current funders and recruit 1–2 new funders.

We currently have some 26 regular funders, many of whom have been funding us for many years. We never take any funders for granted and work hard on our ongoing relationships with them. CHEM Trust has more than doubled its income over the past six years even though securing funding for chemical pollution work that is technical and hard to understand is difficult and time-consuming.

Chemical pollution work is one of the most underfunded environmental issues in the UK; the Environmental Funders Network’s “Where the Green Grants Went” calls it a Cinderella issue. Further, our impact timeline is very long; it can sometimes take decades to make significant progress towards banning a particular chemical because chemicals policy is complex, involving many vested parties.

We do not use commercial participators in our fundraising activity.

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Trustees’ Annual Report

Statement of Responsibilities of the Trustees

The trustees (who are also directors of CHEM Trust for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

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 enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Auditor

Sayer Vincent LLP was appointed as the charitable company’s auditor during the year and has expressed its willingness to continue in that capacity.

The directors’ annual report has been prepared in accordance with the special provisions applicable to companies subject to the small companies’ regime.

The trustees’ annual report has been approved by the trustees on 05 May 2026 and signed on their behalf by

Name: Sharon Darcy

Chair

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.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 December 2025 was 9 (2024: 12). The trustees are members of the charity, but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

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Independent Auditor’s Report

To the Members of CHEM Trust

Opinion

We have audited the financial statements of CHEM Trust (the ‘charitable company’) for the year ended 31 December 2025 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for Opinion

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

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Independent Auditor’s Report

To the Members of CHEM Trust

Opinions on Other Matters Prescribed by the Companies Act 2006

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

Matters on Which We are Required to Report by Exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report including the strategic report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor’s Report

To the Members of CHEM Trust

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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, are set out below.

Capability of the Audit in Detecting Irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

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Independent Auditor’s Report

To the Members of CHEM Trust

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

Use of Our Report

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

Farrah Kitabi (Senior Statutory Auditor)

18 May 2026 for and on behalf of Sayer Vincent LLP, Statutory Auditor

110 Golden Lane, LONDON, EC1Y 0TG

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Statement Of Financial Activities

(Incorporating an Income and Expenditure Account) for the Year Ended 31st December 2025

----- Start of picture text -----
Notes Unrestricted Restricted 2025 Total Unrestricted Restricted 2024 Total
Funds £ Funds £ £ Funds £ Funds £ £
Income from:
- - - -
Donations 5,223 5,223
Charitable Activities 2 870,436 597,643 1,468,079 883,603 424,436 1,308,039
- - - -
Other Income 595 595
- -
Investments 6,586 6,586 7,559 7,559
Total Income 882,245 597,643 1,479,888 891,757 424,436 1,316,193
Expenditure on:
- -
Raising Funds 3 190,632 190,632 168,898 168,898
Charitable Expenditure 3 663,393 597,643 1,261,036 626,908 424,436 1,051,344
Total 854,025 597,643 1,451,668 795,806 424,436 1,220,242
- -
Net Income for the Year 5 28,220 28,220 95,950 95,950
- - - -
Transfers Between Funds 105,301 (105,301)
-
Net Movement in Funds 133,521 (105,301) 28,220 95,950 95,950
Reconciliation of Funds:
Total Funds Brou ht Forward 976,672 105,301 1,081,973 880,721 105,301 986,022
g
-
Total Funds Carried Forward 1,110,193 1,110,193 976,672 105,301 1,081,972
----- End of picture text -----

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 15a to the financial statements.The allocation of the prior year has been split into more headings this year, here and in the notes, with no impact on the net result or brought forward funds.

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CHEM Trust Balance Sheet (As at 31st December 2025)

----- Start of picture text -----
Notes 2025 2024
£ £ £ £
Fixed Assets:
Tangible Assets 10 4,965 5,980
Current Assets:
-
Debtors 11 111,325 27,386
Cash at Bank and in Hand 1,222,369 1,139,003
1,333,694 1,166,389
Liabilities:
Creditors: Amounts Falling Due within One 12 (228,466) (90,397)
Year
Net Current Assets 1,105,228 1,075,992
Total Net Assets 1,110,193 1,081,972
The Funds of the Charit : 15a
y
-
Restricted Income Funds 105,301
Unrestricted Income Funds:
-
Designated Funds 50,000
General Funds 1,110,193 926,672
Total Unrestricted Funds 1,110,193 976,672
Total Charity Funds 1,110,193 1,081,972
----- End of picture text -----

Approved by the trustees on 5 May 2026 and signed on their behalf by

……………………………….

Sharon Darcy (Chair)

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Statement of Cash Flow

(for the Year Ended 31 December 2025)

----- Start of picture text -----
2025 2024
£ £ £
Cash Flows from Operating Activities:
Net Income for the Reporting Period 28,220 95,950
(As Per the Statement of Financial Activities)
Depreciation Charges 3,066 4,040
Dividends, Interest and Rent from Investments (6,586) (7,559)
-
Loss on the Disposal of Fixed Assets 648
(Increase) in Debtors (83,937) (19,209)
Increase in Creditors 138,068 17,648
Net Cash Provided by Operating Activities 79,479 90,870
Cash Flows from Investing Activities
Dividends, Interest and Rents from Investments 6,586 7,559
-
Purchase of Fixed Assets (2,699)
Net Cash Provided by Investing Activities 3,887 7,559
Change in Cash and Cash Equivalents in the Year 83,366 98,429
Cash and Cash Equivalents at the Beginning of the 1,139,003 1,040,574
Year
Cash and Cash Equivalents at the End of the Year 1,222,369 1,139,003
Analysis of Cash and Cash Equivalents and of Net Debt
Other At 31
At 1 January Non-cash December
2025 Cash Flows Changes 2025
£ £ £ £
-
Cash at Bank and in Hand 1,139,002 83,367 1,222,369
-
Total Cash and Cash Equivalents 1,139,002 83,367 1,222,369
----- End of picture text -----

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Notes to the Financial Statements

for the Year Ended 31 December 2025

1. Accounting Policies

a) Statutory Information

CHEM Trust is a charitable company limited by guarantee and is incorporated in England and Wales.

The registered office address is Impact Hub Euston, 1 Triton Square, London, England, NW1 3DX.

b) Basis of Preparation

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

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public Benefit Entity

The charity meets the definition of a public benefit entity under FRS 102.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

d) Going Concern

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. The trustees have reviewed the financial position of the Trust, and in particular the level of reserves, and the basis of current projections, they are satisfied that the Trust remains a going concern for the foreseeable future.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has

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Notes to the Financial Statements

for the Year Ended 31 December 2025

entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

f) 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.

g) Fund Accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

h) Expenditure and Irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

i) Grants Payable

Grants payable are made to third parties in furtherance of the charity’s objects. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and that any condition attaching to the grant is outside of the control of the charity.

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

j) Allocation of Support Costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.

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Notes to the Financial Statements for the Year Ended 31 December 2025

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

k) Tangible Fixed Assets

Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

• Plant and machinery etc. 20% straight line.

l) Debtors

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

m) Cash at Bank and in Hand

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

n) Creditors and Provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

o) Financial Instruments

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

p) Pensions

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

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Notes to the Financial Statements for the Year Ended 31 December 2025

q) Foreign Currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2. Income from Charitable Activities

----- Start of picture text -----
2025 2024
Unrestricted Restricted Total Unrestricted Restricted Total
£ £ £ £ £ £
- -
Becht Foundation 109,752 109,752 57,793 57,793
- -
Esmée Fairbairn Foundation 111,200 111,200 111,200 111,200
- -
Lund Trust 100,000 100,000 100,000 100,000
- -
Sigrid Rausing Trust 150,000 150,000 150,000 150,000
- -
Waterloo Foundation 100,000 100,000 100,000 100,000
Other Grants * 399,484 497,643 897,127 464,610 324,436 789,046
870,436 597,643 1,468,079 883,603 424,436 1,308,039
----- End of picture text -----

*A full list of our funders is available on our website.

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Notes to the Financial Statements

for the Year Ended 31 December 2025

3a. Analysis of Expenditure (Current Year)

----- Start of picture text -----
Raising Charitable Governance Support 2025 2024
Funds Activities Costs Costs Total Total
£ £ £ £ £ £
-
Staff Costs (Note 6) 124,025 450,766 105,102 679,893 596,657
- - -
Other Staff Costs 18,229 18,229 15,609
- - -
HR Expert 2,520 2,520 2,916
- - -
Fundraising 37,739 37,739 27,039
- - -
Professional Fees 16,698 16,698 84,833
- - -
Cost of Experts 338,276 338,276 230,505
- - - -
Policy 84,862 84,862
- - -
Grants Payable (Note 4) 116,688 116,688 104,774
- - -
Meetings and Events 8,337 8,337 20,050
- - -
Travel and Expenses 24,367 24,367 28,762
- - -
Publications and Membership 21,955 21,955 13,133
- - -
Insurance 3,727 3,727 4,383
- - -
Office Costs 48,111 48,111 42,701
- - -
Communications 13,721 13,721 22,638
- - -
Accounting and Audit Fees 19,207 19,207 8,257
- - -
Legal and Governance 5,961 5,961 3,002
- - -
Depreciation 3,066 3,066 4,040
- - -
Bank Charges 189 189 234
- - -
Foreign Currency Losses 8,122 8,122 10,709
161,764 1,070,071 25,168 194,665 1,451,668 1,220,242
- - -
Support Costs 25,563 169,102 (194,665)
- - -
Governance Costs 3,305 21,863 (25,168)
- -
Total Expenditure 2025 190,632 1,261,036 1,451,668
- -
Total Expenditure 2024 168,898 1,051,344 1,220,242
----- End of picture text -----

The charitable expenditure of CHEM Trust relates to various projects to highlight the scientific research linking exposure to chemicals to harmful effects on health.

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Notes to the Financial Statements

for the Year Ended 31 December 2025

3b. Analysis of Expenditure (Prior Year)

----- Start of picture text -----
Raising Charitable Activities Governance Support 2024
Funds Costs Costs Total
£ £ £ £ £
-
Staff Costs (Note 6) 109,248 440,418 46,991 596,657
- - -
Other Staff Costs 15,609 15,609
- - -
HR Expert 2,916 2,916
- - -
Fundraising 27,039 27,039
- - -
Professional Fees 84,833 84,833
- - -
Cost of Experts 230,505 230,505
- - -
Grants Payable (Note 4) 104,774 104,774
- - -
Meetings and Events 20,050 20,050
- - -
Travel and Expenses 28,762 28,762
- - -
Publications and Membership 13,133 13,133
- - -
Insurance 4,383 4,383
- - -
Office Costs 42,701 42,701
- - -
Communications 22,638 22,638
- - -
Accounting and Audit Fees 8,257 8,257
- - -
Legal and Governance 3,002 3,002
- - -
Depreciation 4,040 4,040
- - -
Bank Charges 234 234
- - -
Foreign Currency Losses 10,709 10,709
136,287 848,351 11,259 224,345 1,220,242
- -
Support Costs 31,052 193,293 (224,345)
- -
Governance Costs 1,558 9,701 (11,259)
- -
Total Expenditure 2024 168,898 1,051,344 1,220,242
----- End of picture text -----

Professional fees includes temporary executive support through an interim COO contracted via an agency.

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Notes to the Financial Statements for the Year Ended 31 December 2025

4a. Grant Making (Current Year)

----- Start of picture text -----
2025 2024
Cost £ £
European Environmental Bureau (EEB) - EURENI 15,931 20,492
-
European Environmental Bureau (EEB) - Esmée Fairbairn Foundation 25,000
CHEM Trust Europe - Adessium Foundation 18,059 13,380
-
CHEM Trust Europe - EURENI 16,933
CHEM Trust Europe - eV 14,554 45,903
-
Ecocity - EURENI 5,061
-
Legambiente - EURENI 5,906
-
Stefan Scheuer - EURENI 40,244
At the End of the Year 116,688 104,774
4b. Grant Making (Prior year)
2024 2023
Cost £ £
European Environmental Bureau (EEB) - EURENI 20,492 52,793
European Environmental Bureau (EEB) - Esmée Fairbairn Foundation 25,000 25,000
CHEM Trust Europe - Adessium Foundation 13,380 13,427
CHEM Trust Europe - eV 45,903 17,639
-
CHEM Trust Europe - Flotilla Foundation 37,324
At the End of the Year 104,774 146,184
5. Net Income for the Year
2025 2024
This is Stated After Charging / (Crediting): £ £
Depreciation 3,066 4,040
Auditor’s Remuneration (Excluding VAT):
Audit 13,000 8,257
-
Other Services 3,000
Foreign Exchange Gains or Losses 8,122 10,709
----- End of picture text -----

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Notes to the Financial Statements for the Year Ended 31 December 2025

6. Analysis of Staff Costs, Trustee Remuneration and Expenses, and the Cost of Key Management Personnel

Staff costs were as follows:

----- Start of picture text -----
2025 2024
£ £
Salaries and Wages 570,671 507,018
Social Security Costs 61,975 48,062
Employer’s Contribution to Defined Contribution Pension Schemes 47,247 41,577
The Average Number of Employees During the Year: 679,893 596,657
The following number of employees received employee benefits (excluding employer pension costs and employer’s
national insurance) during the year between:
2025 2024
No. No.
£60,000 - £69,999 2 2
----- End of picture text -----

The total employee benefits (including pension contributions and employer’s national insurance) of the key management personnel were £302,031 (2024: £214,614). The key management personnel team comprises the Executive Director, Fundraising Director, Director of Policy and Advocacy and the Chief Operating Officer.

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2024: £nil). No charity trustee received payment for professional or other services supplied to the charity (2024: £nil).

Trustees’ expenses represents the payment or reimbursement of travel and subsistence costs totalling £675 (2024: £345) incurred by 3 (2024: 2) members relating to attendance at meetings of the trustees.

7. Staff Numbers

The average number of employees (head count based on number of staff employed) during the year was 13 (2024: 13).

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Notes to the Financial Statements

for the Year Ended 31 December 2025

8. Related Party Transactions

A.M. Warhurst, a Director of CHEM Trust, and Ninja Reineke, a team member not based in the UK, are part of the management team of CHEM Trust Europe, a non-profit organisation based in Germany. During 2025 CHEM Trust made payments to CHEM Trust Europe totalling £198,743 (2024: £122,443).

There were trustee donations of £2,010 (2024: £nil) from related parties which are outside the normal course of business and no restricted donations from related parties.

9. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

10. Tangible Fixed Assets

----- Start of picture text -----
Computer Equipment Office Equipment Total
Cost £ £ £
At the Start of the Year 13,637 11,943 25,580
-
Additions in Year 2,699 2,699
-
Disposals in Year (648) (648)
At the End of the Year 15,689 11,943 27,632
Depreciation
At the Start of the Year 8,616 10,985 19,601
Charge for the Year 2,593 473 3,066
- - -
Eliminated on Disposal
At the End of the Year 11,209 11,458 22,666
Net Book Value
At the End of the Year 4,480 485 4,965
At the Start of the Year 5,022 958 5,980
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All of the above assets are used for charitable purposes.

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Notes to the Financial Statements for the Year Ended 31 December 2025

11. Debtors

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2025 2024
£ £
Other Debtors 9,298 9,288
Prepayments 102,027 18,098
111,325 27,386
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12. Creditors: Amounts Falling Due within One Year

2025
2024		 2025
2024
£
£
Taxation and Social Security 1,018
1,801
Other Creditors 330
35,285
Accruals 20,328
30,911
Trade Creditors 95,590
-
Deferred Income (note 13) 111,200 22,400
228,466 90,397

13. Deferred Income

Deferred income comprises of £11,200 cost of living grant increase from Esmée Fairbairn Foundation and £100,000 from Esmée Fairbairn Foundation that relates to 2026, but paid in December 2025.

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2025 2024
£ £
Balance at the Beginning of the Year 22,400 33,600
Amount Released to Income in the Year (22,400) (33,600)
Amount Deferred in the Year 111,200 22,400
Balance at the End of the Year 111,200 22,400
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40

Notes to the Financial Statements for the year ended 31 December 2025

14a. Analysis of Net Assets Between Funds (Current Year)

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Unrestricted Restricted Total Funds
£ £ £
-
Tangible Fixed Assets 4,965 4,965
-
Net Current Assets 1,105,228 1,105,228
-
Net Assets at 31 December 2025 1,110,193 1,110,193
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14b. Analysis of Net Assets Between Funds (Prior Year)

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Unrestricted Restricted Total funds
£ £ £
-
Tangible Fixed Assets 5,980 5,980
Net Current Assets 970,691 105,301 1,075,992
Net Assets at 31 December 2024 976,671 105,301 1,081,972
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Notes to the Financial Statements

for the Year Ended 31 December 2025

15a. Movements in Funds (Current Year)

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At 1 At 31
January Income Expenditure December
2025 & Gains & Losses Transfers 2025
£ £ £ £ £
Restricted Funds:
- - -
Adessium Foundation 83,791 (83,791)
- - -
EURENI 92,634 (92,634)
- - -
Flotilla Foundation 80,000 (80,000)
- - -
Lund Trust 100,000 (100,000)
-
Tides Foundation 17,803 73,964 (73,964) (17,803)
-
Other Grants 87,498 167,254 (167,254) (87,498)
-
Total Restricted Funds 105,301 597,643 (597,643) (105,301)
Unrestricted Funds:
Designated Funds:
- - -
Chemicals, Strategy & Policy Fund 50,000 (50,000)
- - -
Total Designated Funds 50,000 (50,000)
General Funds 926,672 882,245 (854,025) 105,301 1,110,193
Total Unrestricted Funds 926,672 882,245 (854,025) 105,301 1,110,193
-
Total Funds 1,081,973 1,479,888 (1,451,668) 1,110,193
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The narrative to explain the purpose of each fund is given at the foot of the note below.

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Notes to the Financial Statements for the Year Ended 31 December 2025

15b. Movements in Funds (Prior Year)

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At 1 At 31
January Income Expenditure December
2024 & Gains & Losses Transfers 2024
£ £ £ £ £
Restricted Funds:
- - -
Adessium Foundation 41,206 (41,206)
- - -
EURENI 48,044 (48,044)
- - -
Flotilla Foundation 64,920 (64,920)
- - -
Lund Trust 100,000 (100,000)
-
Tides Foundation 17,803 78,666 (78,666) 17,803
-
Other Grants 87,498 91,600 (91,600) 87,498
-
Total Restricted Funds 105,301 424,436 (424,436) 105,301
Unrestricted Funds:
Designated Funds:
- - -
Chemicals, Strategy & Policy Fund 50,000 50,000
- - -
Total Designated Funds 50,000 50,000
-
General Funds 830,721 891,757 (795,806) 926,672
-
Total Unrestricted Funds 880,721 891,757 (795,806) 926,672
-
Total Funds 986,022 1,316,193 (1,220,242) 1,081,973
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Purposes of Restricted Funds

Adessium Foundation - funding towards increasing the protective nature of EU chemical laws, and the Development of CHEM Trust Europe.

EURENI - this budget discrepancy was as a result of issues with VAT after Brexit that we are in the process of resolving.

Flotilla Foundation - funding in support of the ‘Improving the EU’s world leading Chemicals Regulation and keeping the postBrexit UK at the same level’.

Lund Trust - funding towards UK work and the internship position.

Tides Foundation - funding for PFAS outreach and education.

Other grants - funding for continuing to shift policy on persistent marine pollutants at EU level, and Communications Officer position.

Purposes of Designated Funds

Chemicals, Strategy & Policy Fund - £50,000 was designated towards the cost of the EU chemicals policy experts. This has now been transferred to general funds.

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43

Notes to the Financial Statements for the Year Ended 31 December 2025

15c. Movements in Funds (Continued)

Transfers

The brought forward balances on certain restricted funds have been restated following a review which identified that expenditure against these funds had been understated in prior years. The balances on these funds at 31 December 2022, 2023 and 2024 should have been nil, as the restricted grant income received had been fully spent within the relevant grant periods, as confirmed by monitoring reports submitted to funders. The funds in question are Tides Foundation and two anonymous funds labelled ‘Other grants’.

16. Legal Status of the Charity

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

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