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← Glf Global Leadership Foundation (UK)

2025-06-30-accounts

Company number: 5747231 Charity number: 1123176

Global ( 4 Leadership Foundation (UK)

GLF GLOBAL LEADERSHIP FOUNDATION (UK)

(A Company Limited by Guarantee)

Trustees' Report and Financial Statements

For the Year Ended 30 June 2025

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GLF GLOBAL LEADERSHIP FOUNDATION (UK)

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Contents

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||||||| |---|---|---|---|---|---| |Page| |Reference and Administrative|Details|of the|Charity,|its Trustees and Advisers|3| |Trustees'|Report (incorporating a Directors’|Report)|4-9| |Independent Examiner’s|Report|10-11| |Statement of Financial Activities|(including|an Income & Expenditure|account)|i2| |Balance|Sheet|13| |Notes|to the|Financial|Statements|14-22|

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GLF GLOBAL LEADERSHIP FOUNDATION (UK)

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Reference and Administrative Details of the Charity, its Trustees and Advisers For the Year Ended 30 June 2025

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Trustees James Smyth, Chairman Sir John Shepherd Stuart Brooks Sir Robert Fulton

Company Registered Number

5747231

Charity registered number 1123176

Registered office 20 Little Britain London EC1A 7DH

Secretary Keith Hatchick

Independent Examiner Heather Wheelhouse ACA BDO LLP Level 12 Thames Tower Station Road Reading RG1 1LX

Bankers CAF Bank Ltd 25 Kings Hill Avenue Kent ME19 4JQ

Solicitors Marshall Hatchick 6 York Street London W1U 6QD

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Trustees' Report For the Year Ended 30 June 2025

—————-sae The Trustees present their Annual Report together with the Financial Statements of GLF Global Leadership Foundation (UK) (‘GLF (UK)’, ‘the Foundation’, ‘the Company’, ‘the Charity’) for the year 1 July 2024 to 30 June 2025. The Trustees confirm that the Annual Report and Financial Statements of the Company comply with the current statutory requirements, the requirements of the Company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and the Companies Act 2006. The Trustees have also been guided by the Charity Governance Code for Smaller Charities.

OBJECTIVES AND ACTIVITIES

Objectives and Strategies for Achieving Objectives

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit.

The primary objectives of GLF(UK), as stated in its governing document, are:

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Trustees’ Report (continued) For the Year Ended 30 June 2025

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ACHIEVEMENTS AND PERFORMANCE

a. Activities

Projects

GLF(UK) continues to make grants available for Projects and other activity conducted by GLF. All such activity is considered to be ‘Restricted’ in accordance with the rules set by the Charity Commission.

Grants

During the year ended 30 June 2025, £14,430 in grants were made in support of project/forum activity. (2024: £6,550) The Trustees monitored the situation through the submission of regular reports.

FINANCIAL REVIEW

a. Going Concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. This includes consideration of the continuing impact of geopolitical uncertainties including the war in Ukraine and the surge in energy costs. Fundraising traditionally varies from year to year. It was significantly affected by the death of former President FW de Klerk, the Founder of GLF and an influential fundraiser for GLF (UK). Nevertheless, the Charity has sufficient funds to manage itself for the foreseeable future, to conduct fundraising and to support charitable activity. The principal item of expenditure remains, and will remain, grants for the conduct of Projects.

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Trustees’ Report (continued) For the Year Ended 30 June 2025

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Each Project, Forum or activity is subject to a formal application to Trustees. The Trustees can consider whether to make the grant and can decide its amount, taking account of their assessment of the activity and the financial situation of the Charity. Even if the Charity received no further Income (which the Trustees regard as most unlikely), the Charity can sustain a comparable level of activity for the next 2 years. For this reason, they continue to adopt the ‘going concern’ basis in preparing the financial statements. The Trustees confirm that at the time of approving the financial statements, there are no material uncertainties regarding the Charity’s ability to continue in operational existence for the next 12 months.

b. Reserves Policy

The Trustees meet twice a year to review the level of reserves of the Charitable Company. The Reserves Policy currently requires the Charity to maintain a minimum of £38,000 in reserve to fulfil its annually agreed payments to the Global Leadership Foundation for management and fundraising expenditure — and to allow that agreement to be renegotiated if necessary. The Reserves Policy is reviewed annually by Trustees and was last reviewed at the Trustees Meeting in October 2024. The Trustees continue to monitor closely the relationship between Income and Expenditure. The balance of the Restricted Funds has increased from nil to £20,000 and Unrestricted Funds has decreased from £142,461 to £97,239 at 30 June 2025. The total balance of Restricted and Unrestricted funds has decreased from £142.461 to £117,239 at 30 June 2025.

STRUCTURE, GOVERNANCE AND MANAGEMENT

a. Constitution

GLF Global Leadership Foundation (UK) is a Charitable Company limited by guarantee, incorporated on 17 March 2006 (Company Registration Number 5747231) and registered with the Charity Commission as a Charity on 13 March 2008 (Charity Registration Number 1123176).

The financial statements comply with current Statutory requirements, the Memorandum and Articles of Association, the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) issued in January 2019, the Companies Act 2006 and the Charities Act 2011.

There have been no changes to the objectives since the last Annual Report.

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GLF GLOBAL GLOBAL LEADERSHIP FOUNDATION (UK)

Trustees’ Report (continued) For the Year Ended 30 June 2025

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b. Method of Appointment or Election of Trustees

The Charitable Company is governed by a Board of Trustees which constitute its directors. There are currently four Trustees. Appointment to the Board of Trustees is made by existing members of the Board. Training of Board members is undertaken at the meetings of Trustees.

c. Organisational Structure and Decision Making

Decisions are made by a simple majority of the votes cast at a meeting, or by suitable electronic means. Each Trustee has one vote, except the Chairman, who has a second or casting vote. Day-to-day management of the Charitable Company is carried out by the Secretariat of GLF Global Leadership Foundation “GLF”, a not-for-profit foundation registered in Berne under Swiss law (Company number: CH-035.7.032.801-9). The key management person is Robert Fulton.

d. Risk Management

The Trustees have assessed the major risks to which the Charitable Company is exposed, in particular those related to the operations and finances of the Charitable Company and are satisfied that systems and procedures are in place to mitigate the Charity’s exposure to those major risks. This includes consideration in 2024 - 2025 of the conflict in Ukraine and the violence in the Middle East, in addition to the uncertainty caused by erratic and unpredictable US geopolitical behaviour.

e. Payments to Global Leadership Foundation

Payments made to the Global Leadership Foundation are reviewed annually by Trustees. They cover the costs of all administration and management of the Charity and its accounts including fundraising. They are calculated on the basis of an agreed share of the overheads and variable costs for the staff time required for management, administration and fundraising.

PLANS FOR FUTURE PERIODS

The Trustees aim to continue to make grants in support of Projects, Forums and other activity restricted to the objectives of the charitable company and run by organisations, whose aims and objectives are in line with those of GLF (UK). Trustees will take account of the financial state of the Charity in deciding whether to support each activity.

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Trustees’ Report (continued) For the Year Ended 30 June 2025

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FINANCIAL REVIEW

The Trustees review the financial situation at each 6 monthly Meeting. Fundraising continues to sustain the work of the Charity. Trustees maintain the Charity as a going concern by taking account of the conflict in Ukraine, the violence in the Middle East and the unpredictability of US conduct - and adjusting grants as necessary.

Income for the year totalled £33,395 (2024: £12,732), of which £20,000 was restricted (2024: nil). Expenditure for the year was £58,616 (2024: £50,364). Expenditure exceeded Income by £25,222 (2024: £37,632) and the balance of the Restricted Funds has increased from nil to £20,000 and Unrestricted Funds has decreased from £142,461 to £97,239 at 30 June 2025. The total balance of funds has decreased from £142,461 to £117,239 at 30 June 2025.

TRUSTEES' RESPONSIBILITIES STATEMENT

The Trustees (who are also Directors for the purposes of Company Law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practices (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the results of the company for that period. In preparing those financial statements, the Trustees are required to:

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Cs———— Trustees’ Report (continued) For the Year Ended 30 June 2025 a ¢Prepare the financial statements on the “going concern’ basis unless it is inappropriate to presume that the Charity will continue in operation.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitable Company's transactions and 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,

The Trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

SMALL COMPANY PROVISIONS

2006.This Report has been prepared in accordance with the special provisions under Part 15 of the Companies Act This dL Oops Report was approved by the Trustees,on #47 4% 4( AYA and signed on their behalf by:

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Chairman of Trustees
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Independent Examiner’s Report For the Year Ended 30 June 2025

ooeEeeEeEeeeSSSSSSSMMMSMmmmmhshFesee INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF GLF GLOBAL LEADERSHIP FOUNDATION (UK) (‘the company’)

Treport to the charity’s trustees on the accounts of the company for the year ended 30 June 2025, which are set out on pages 12 to 22.

This report is made solely to the charity's trustees, as a body, in accordance with Regulation 31 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity's trustees as a body, for my work, for this report, or for the statement I have made.

Responsibilities and basis for report

As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company 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 your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Ihave completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

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Statement of Financial Activities (including Income & Expenditure Statement) For the Year Ended 30 June 2025

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Restricted Unrestricted Total Total
Funds Funds Funds Funds
2025 2025 2025 2024
Note £ £ £ £
INCOMEFROM
Donations and legacies 3 20,000 13,125 33,125 12,526
Investmentincome 3 - 270 270 206
TOTALINCOME 20,000 13,395 33,395 12,732
EXPENDITUREON
Raisingfunds
Charitable activities
TOTALEXPENDITURE		 4
5		 =
-
-		 13,163
45,453
58,616		 13,163
45,453
58,616		 12,311
38,053
50,364
NETEXPENDITUREBEING
MOVEMENTS INFUNDS		 20,000 (45,221) (25,221) (37,632)
RECONCILIATION OFFUNDS
Totalfundsbroughtforward - 142,461 142,461 180,0983
TOTALFUNDSCARRIED
FORWARD		 20,000 97,239 117,239 142,461

The notes of pages 14 to 22 form part of these financial statements.

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||||| |---|---|---|---| |Balance|Sheet| |As|at 30 June|2025| |Note|2025|2024| |£|£|£|£| |CURRENT ASSETS| |Debtors|8|463|2,981| |Cash at bank and in hand|121,576|148,905| |122,039|151,886| |CREDITORS| |Amounts falling due within one|9|(4,800)|(9,425)| |year| |NET CURRENT ASSETS|117,239|142,461| |NET ASSETS|117,239|142,461| |CHARITY FUNDS| |Restricted funds|10|20,000|-| |Unrestricted funds|10|97,239|142,461| |TOTAL FUNDS|117,239|142,461|

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The Trustees are satisfied that the Charitable Company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of Section 477 and that no member or members have requested an audit pursuant to Section 476 of the Act.

These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

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The notes of pages 14 to 22 form part of these financial statements.

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Notes to the Financial Statements For the Year Ended 30 June 2025

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1. Accounting Policies

General Information

~ GLF Global Leadership Foundation (UK) is a public benefit entity and a company limited by guarantee (Company Number 5747231) registered and England and Wales. GLF Global Leadership Foundation (UK) is also a Charity registered with the Charity Commission (Charity Registration Number 1123176). These financial statements have been prepared for the year ended 30 June 2025. They are prepared in GBP, being the functional currency, and are rounded to the nearest Pound.

The Registered Office and its principal place of business is 20 Little Britain, London, EC1A 7DH. The principal activities of the Charitable Company have been described in the Trustees’ Report (incorporating a Directors’ Report).

GLF Global Leadership Foundation (UK) operates for the public benefit of the efficient public administration of government and public services and the promotion of national and international conflict resolution and reconciliation.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been applied consistently, unless otherwise stated.

1.1 Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Companies Act 2006 and the Charities act 2011. GLF Global Leadership Foundation (UK) constitutes a public benefit entity as defined by FRS 102.

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Notes to the Financial Statements (continued) For the Year Ended 30 June 2025

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Going concern

The Trustees confirm that at the time of approving the financial statements, there are no material uncertainties regarding the Charity’s ability to continue operational existence for the foreseeable future. In arriving at this conclusion, the Trustees have taken account of the conflict in Ukraine, the violence in the Middle East, the unpredictability of US conduct — and current and anticipated financial performance in the current economic conditions, and its reserved position.

The Charity has sufficient funds to continue its planned charitable activities and to conduct fundraising. The principal items of expenditure are grants for the conduct of Projects and Forums. Each Project and Forum is subject to a formal application, and, on each occasion, the Trustees decide whether to make the grant and its amount, taking into account the financial position of the Charity.

At the time of approval of the financial statements, the Charity has liquid cash of approximately £121,600. The balance of the Restricted and Unrestricted Funds is £117,239 on 30 June 2025; on that basis, the Trustees consider that the Charity can sustain a comparable level of activity for the next 2 years. The Trustees confirm that at the time of approving the financial statements, there are no material uncertainties regarding the Charity’s ability to continue in operational existence for the next 12 months.

1.2 Income

All income is recognised when the Charity has entitlement to the income, when it is probable that the income will be received, and when the amount received can be measured reliably.

Donations are recognised ona receivable basis.

For legacies, entitlement is taken as the earlier of the date on which either: (a) the Charity is aware that the probate has been granted, the estate finalised, and notification has been made by the Executor(s) to the Trust that a distribution will be made, or (b) when a distribution is received from the Estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the Charity has been notified of the Executor’s intention to make a distribution. Where legacies have been notified to the Charity, or the Charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

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Notes to the Financial Statements (continued) For the Year Ended 30 June 2025

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

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the Charity which is the amount the Charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Investment income relating to interest on funds held on deposit is included when receivable.

1.3 Expenditure

Expenditure is recognised when there is a legal or constructive obligation to transfer economic benefit to a third party, when it is probable that a transfer of economic benefits will be required in settlement and when the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs and governance costs. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Expenditure on charitable activities are costs incurred on the Charity’s educational operations, including support costs and costs relating to the governance of the Charity which have been apportioned to charitable activities.

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

All expenditure is inclusive of recoverable VAT.

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Notes to the Financial Statements (continued) For the Year Ended 30 June 2025

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1.4 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 with the exception of bank loans which are subsequently measured at amortised cost using the ‘effective interest’ method.

1.5 Debtors

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

1.6 Cash at bank and in hand

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

1.7 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of these amounts, discounted at the pretax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.8 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are those given for specific purposes and must be used in line with the donor's intentions, ensuring they are applied directly to the specific projects or activities of the Charity.

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2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

Due to the simplicity of the Company’s transaction streams and year-end financial position, the Directors consider there to be no critical judgements, estimates or assumptions in the preparation of these financial statements.

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Notes to the Financial Statements (continued) For the Year Ended 30 June 2025

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3) INCOMEFROMDONATIONSANDLEGACIES INCOMEFROMDONATIONSANDLEGACIES
Restricted Unrestricted
funds funds Total Total
2025 2025 2025 2024
£ £ £ £
Donations 20,000 13,125 33,125 12,526
Investmentincome - 270 270 206
20,000 13,395 33,395 12,732
4. FUNDRAISING ACTIVITIES
Restricted Unrestricted
funds funds Total Total
2025 2025 2025 2024
£ £ £ £
Marketingandcommunications - 7,200 7,200 7,200
Supportcosts (fromnote 6) - 5,963 5,963 5,111
- 13,163 13,163 12,311
5. CHARITABLEACTIVITIES
Restricted Unrestricted Total Total
funds funds 2025 2024.
2025 2025
£ £ £ £
GrantspayabletoGLF - 14,430 14,430 6,550
Supportand administration costs - 25,000 25,000 26,239
Bankcharges - 60 60 153
GovernanceandSupport - 5,963 5,963 5,111
costs (from note 6)
- 45,453 45,453 38,053

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Notes to the Financial Statements (continued) For the Year Ended 30 June 2025

ll 6. ALLOCATION OF GOVERNANCE AND SUPPORT COSTS

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Support costs are apportioned to the following activities based on an estimate of time spent in relation to the recharged services of GLF staff:

Support costs are apportionedcosts are apportionedare apportionedapportioned to the following activities based on an estimate of time spentthe following activities based on an estimate of time spentfollowing activities based on an estimate of time spentactivities based on an estimate of time spentbased on an estimate of time spenton an estimate of time spent
relation to thethe recharged services of GLFGLF staff:		 to the following activities based on an estimate of time spentthe following activities based on an estimate of time spentfollowing activities based on an estimate of time spentactivities based on an estimate of time spentbased on an estimate of time spenton an estimate of time spentan estimate of time spentestimate of time spentof time spenttime spentspent to the following activities based on an estimate of time spentthe following activities based on an estimate of time spentfollowing activities based on an estimate of time spentactivities based on an estimate of time spentbased on an estimate of time spenton an estimate of time spentan estimate of time spentestimate of time spentof time spenttime spentspent in
2025 2024
£ £
Apportionment ofGovernance and Support costs:
Fundraising (tonote4) 5,963 5,111
Charitable activities (tonote5) 5,963 5,111
11,926 10,222
Governance and Support costs:
Accountspreparation 23 2,875
Independentexaminer'sfee 4,800 138
Managementcharges 6,000 6,000
Trustees’ indemnity insurance 1,103 1,209
11,926 10,222

YS TRUSTEES AND OTHER EMPLOYEES

The Charity does not employ any staff. During the year, GLF (UK) paid £38,200 (2024: £39,439) to GLF for management, office, administration, marketing and research services, (See Note 12)

During the year, no GLF (UK) Trustees who are also key personnel in GLF (See Note 12) received any remuneration (2024: £nil).

During the year, no GLF (UK) Trustees received any benefits in kind (2024: £nil).

During the year, no GLF (UK) Trustees received any reimbursement of expenses (2024: £nil).

  1. DEBTORS
2025 2024
E £
Prepayments and accrued income 463 2,981

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Notes to the Financial Statements (continued) For the Year Ended 30 June 2025

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9. CREDITORS
2025 2024
2 £
Accrualsanddeferredincome 4,800 9,425
10. STATEMENTOFFUNDS
Balance at Income Expenditure Balance at
1July 30June
2024 2025
£ £ £ £
Restricted funds—current - 20,000 - 20,000
year
Unrestrictedfunds— 142,461 13,395 (58,616) 97,239
currentyear
Balance at Income Expenditure Balance at
1July 2023 30June
2024
£ £ £ £
Restricted funds—prior = - “
year
Unrestrictedfunds—prior 180,093 12,732 (50,364) 142,461
year

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‘Restricted’ funding is for GLF projects in line with the GLE/JCF/FAIRR agreement.

  1. ANALYSIS OF NET ASSETS BETWEEN FUNDS
CurrentYear Restricted Unrestricted Total
funds funds funds
2025 2025 2025
£ £ £
Currentassets 20,000 102,039 122,039
Creditorsduewithinoneyear - (4,800) (4,800)
20,000 97,239 117,239

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GLF GLOBAL LEADERSHIP FOUNDATION (UK)

Notes to the Financial Statements (continued) For the Year Ended 30 June 2025

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|||||| |---|---|---|---|---| |Previous year|Restricted|Unrestricted|Total| |funds|funds|funds| |2024|2024|2024| |£|£|£| |Current|assets|-|151,886|151,886| |Creditors due within one year|“|(9,425)|(9,425)| |-|142,461|142,461|

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te: RELATED PARTY TRANSACTIONS GLF(UK) provides grants and financial support to GLF for administrative support preapproved by the Trustees. Sir Robert Fulton has been the CEO of GLE since 2010, and Sir John Shepherd is a director of GLF to which management charges were paid:

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||||| |---|---|---|---| |2024-2025|2023-2024| |Support &|Office|£20,000|£21,239| |Research|£5,000|£5,000| |Marketing andcomms|£7,200|£7,200| |Management Charge|£6,000|£6,000|

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£14,430 in grants were given to GLF, (2024: £6,550) and no repayment from GLF in relation to unspent grants were made (2024: £nil).

13, LIMITED BY GUARANTEE The Charitable Company is limited by guarantee and has no share capital. The liability of Members in the event of winding up is £10.

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