2025-03-31-accounts

Army Sport Mackenzie Building Fox Lines Queens Avenue Aldershot GU112LB ARMY SPORT Telephone: Civilian [phone] Military (94222) 7304 Kreston Reeves LLP Statutory Auditor and Chartered Accountants 2nd floor Maritime Place Quayside Chatham Maritime Chatham Kent ME4 4QZ E-mail: finance britisharm ort.com Referen￿. Army Sport1110-111ASCF 13 August 2025 ARMY SPORT CONTROL BOARD CHARITABLE FUND- 1123854 This letter is fumished at your request in connection with the audit of the financial statements of the charitable company for the period ended 31 March 2025 for the purpose of expressing an opinion as to whether the financial ststements give a twe and fair view of the results and financial position of th8 charity in accordance with the Companies Act 2006 and United Kingdom Generally Accepted Accounting Practice, including the Statement of Recommended Practi￿ Accounting and Reporting by Charities applicable to charities preparing their accounts in accordan￿ with FRS102 {°th8 SORP"), including all subsequent Update Bulletins issued that apply to the period under review. We recognise that our representations concerning the matters referred to below are significant in enabling you to form an opinion on the financial statements. We have fulfilled our responsibilities as directors of the charitable company, as set out in your terms of engagement dated 2nd April 2025. under the Companies.Act 2006 for preparing financial statements in accordan￿ with the applicable law and United Kingdom Generally Accepted Accounting Practi￿, which you have drafted on our behalf, which give a true and fair view of the financial position of the charitable company as of the period end and of the results of operations for the period then ended and for making accurate representations to you. We acknowledge our legal responsibilities regarding disclosure of information to you as auditors and confirm that, so far as we are aware, there is no relevant audit information needed by you in Gonnection with preparing your audit report of which you are unaware. Each director has taken all the steps that they ought to have taken as a director in order to make them self aware of any relevant audit information and to establish that you are aware of that information. Fraud We acknowledge our responsibility for the design, implementstion and maintenance of a system of internal control in order to prevent and detect fraud. We have assessed the risk that the financial statements may be materially misstated as a result of fraud and it is our opinion that any such risk is minimal.

We are not aware of any irregularities involving management or employees who have a significant role with regards to the internal control system or that could have a material effect on the financial statements. We are not aware of any fraud or suspected fraud of any kind communicated by current or former employees, analysts, regulators or any others. We are not aware of matters related to fraudulent activity or other non-compliance with law or regulation arising since the beginning of the period which have been communicated to the Charity Commission. Provlsion of information We have made availab18 to your representatives all significant financial records and related data. We have provided to you all other infomiation requested and given unrestricted a￿sS to persons within the charity from whom you have deemed it ne￿SSary to obtain audit evidence. All other records and related information, including minutes of all management meetings, have been made available to you. Accounting records All financial transactions of the charity have been properly reflected in the accounting records in accordance with the requirements of the Companies Act 2006 and have been properly reflected in the financial statements. Accounting estimates We confirm that the methods, data and significant assumptions used by us in making accounting estimates, and their related disclosures, are appropriate to achieve recognition, measurement and disclosure that is reasonable in the context of the applicable financial reporting framework. We confinn that we have informed you of all such significant assumptions. Minutes and Contracts The minute books presented to you contain complete and aulhentic minutes of all meetings of the charity's members and trusteesldirectors held since the beginning of the period under review. We have complied with all aspects of contractual agreements that would have a material effect on the financial statements in the event of non-compliance. Non8 of the directorsltrustees had at any time in the period an interest in any contract with the charity (excluding service contracts) except as disclosed in the notes to the financial statements. Law and Regulations We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal and regulatory framework within which the charity conducts its business and which are ￿ntral to the charity's ability to conduct its business, except as explained to yourselves and disclosed in the financial statements. We confirm that we have reviewed the guidance 'How to report a serious incident in your charity. published by the Charity Commission. We also confirm that no Serious Incident Reports have been submitted to the Charity Commission, nor any events considered for submission, during the accounting period or in the period from the balance sheet date to the date of approval of the financial statements. We are not aware of any instances during the period where the charity has operated outside its charitable objectives as laid down in its governing documents.

We can confirm that our procedures for handling data are compliant with the General Data Protection Regulation and that there have been no events which could result in any penalty being levied by the Information Commissioner's Office which could have a material impact on the financial statements. Tangible Fixed Assets The net book amounts at which fixed assets are included in the balance sheet are arrived at: After taking into account all capital expenditure on additions thereto, but no expenditure properly chargeable to revenue. After eliminating the cost and accumulated depreciation relating to items sold or otherwise disposed of. After providing for amortisation and impaimient at rates sufficient to redu￿ the net book amounts to their residual value by the time they become no longer economically useful to the charity. After recognisi'ng the expected decommissioning costs that will be incurred at the end of each asset's useful economic life We confirm that all tangible fixed assets included in the financial statements exist at the balance sheet. Investments None of the charity's investments have declined in value to an amount less than the carrying value in the balance sheet. Other Current Assets We are of the opinion that other current assets have a value on realisation in the ordinary course of operations at least equal to the amounts at which they are stated in the financial stat8ments. In particular adequate provision has been made against all amounts owing to the charity, which are known, or may be expected, to be irrecoverable. Assets - General We confirm that the charity has satisfactory title to all assets appearing in the balance sheet and that they are free from any lien or charge unless otherwise stated in the financial statements. We have no intention5 that may materially alter the carrying value or classification of assets and liabilities reflected in the financial ststements. Liabilities - General All known liabilities of the charity at the balan￿ sheet date have been included in the financial statements. Adequate provisions have been made in the financial statements for liabilities, which are known to exist but the amount of which. cannot be accurately determined. Provision has been made for all grant Gommitments made by the charity in line with the requirements of the SORP. Contingent Liabilities We have disclosed to you all claims in connection with litigation or any other claims of material importance that have been, or are expected to be, re￿IVed and any such claims have been appropriately accounted for and disclosed in the financial statements.

We have disclosed to you all other contingent liabilities. Corporation Tax The charity has not undertaken any activities during the year upon which a corporation tax liability arises. Statement of financial activities All income of the charity for the period under review has been included in the financial stat8ments. Except as disclosed in the financial statements the results for the period were not materially affected by: transactions of a sort not usually undertaken by the charity. circumstances of an exceptional or non-recurring nature. charges or credits relating to prior periods. All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions during the period in the application of such income. Transactions with directorsftrustees and other related partles Trustees, remuneration We confirm that no remuneration was paid to trustees during the period under review. Directors, advances, Gredits and guarantees The charity has had at no time during the period any arrangement, transaction or agreement to provide credit facilities (including loans, quasi loans or credit transactions) for directors and other related parties nor to guarantee or provide security for such facilities except as disclosed in the financial statements. Related party transactions We confirm that we have fully disclosed to you the identity of all of the charity's related parties. You have been provided with details of all transactions between the charity and its related parties that have arisen during the accounting period and we confirm that the disclosure made in the financial ststements of these transactions is comp18te and accurate. We confirm the factual accuracy of the controlling party disclosure in the financial statements. Capital Commitments The financial statements make full disclosure of all outstanding amounts contracted for at the balance sheet date in respect of capital expenditure. Post Balance Sheet Events Since the balance sheet date no events or transactions have either occurred or are pending which would have a material effect upon the financial statements at that date, or for the period then ended, or which are of such significance in relation to the charity's affairs as to require disclosure in the financial statements.

Financial Facllltles Since the balanc8 sheet date adequate financial facilities have continued to be available to the charity and we have no reason to believe that such facilities will be withdrawn within the next trwelve months. Proposed adjustments and misstatements detected by the auditors We acknowledge our responsibility for the maintenance of the accounting records and the preparation of the financial statements. We note that there have been no have considered the amendments that you have proposed to the accounts presented to you for audit, detailed in your report to us. We approve these amendments and have authorised you to reflect them in the financial statements. We confirm that we have reviewed these amendments and are satisfied that they have been correctly made and the financial statements updated accordingly. We have considered the schedule of unadjusted misstatements set out in Appendix I to this letter and we confirm that we do not wish to amend the financial statements for these items due to their immateriality, both individually and in aggregate to the financial statements as a whole. Review of going concern basis We confirm that we have considered the charity's future operations. worf(ing capital requirements and cashflows and we feel that the going conGem basis is appropriate for the preparation of the financial statements for the period under review. Our considerations have covered a period of not less than 12 months from the date of the approval of the financial statements. Our consideration has included a thorough assessment of the charity's ability to continue trading as a going concem in light of the current economic climate. We have taken appropriate measures, as far as possible based on the infomiation currently available to us, to safeguard the current and future operations of the charity. All projected cashflows, management accounts and other information and assumptions used in reaching this conclusion have been made available to you for the purposes of your audit. We confirm that our plans for future actions required to enable the company to continue as a going concem are feasible. There are no material Un￿rtaIntieS of which we are aware that cast doubt on the charity's ability to continue as a going COn￿rn. We are of the opinion that the disclosure on going concern in both the trustees, report and the financial statements is an accurate reflection of the charity's financial position. Current economic climate We confirm that we are aware of our responsibility as trustees to consider, as far as possible with the information currently available to us, the potential influence of prevailing economic conditions on all aspects of the charity's financial and narrative reporting. This includes, but is not limited to, significant global events, geopolitical uncertainties. and fluctuations in interest rates and inflation. We confinn that all representations made in this letter include due consideration of these factors. In particular this includes, but is not limited to, the following: Appropriate disclosure has been included in the charity's narrative reporting regarding the impact of the current economic Glimate on the charity's perfomiance during the period, our assessment of principal risks and uncertainties and the future activity of the charity; We acknowledge our responsibility in the preparation of the financial statements for making appropriate judgments, estimates and assumptions. We have informed you of the judgements and estimates, including those related to the current economic climate, that

have had the most significant impact on the financial statements. We confinn that the disclosure in the financial statements of the critical accounting estimates and areas of judgement accurately describes our assessment of matters relating to the current economic climate; The financial statements reflect the conditions which existed at the reporting date, The effect of material non-adjusting events subsequent to the reporting date has been disclosed in the financial statements. We have reassessed the value of the charity's investments in light of the current economic climate. We confirm that they have not declined in value to an amount less than the carrying value at the reporting date; At the reporting date, any additional liabilities arising as a result of the current economic climate have been recognised. We have specifically considered whether any additional provision is required in respect of: Doubfful debts; Onerous leases and contracts; Redundancy payments. Approval of Financial Statements We confirm that the above representations are made on the basis of enquiries of management and staff with relevant knowledge and experience and, where appropriate, of inspection of supporting documentation sufficient to satisfy ourselves that we can properly make each of the above representations to you. The financial statements and the contents of this letter were formally approved by the board at a meeting held on the date shown below. Major General J M Senior CBE Chair and on behalf of the Amiy Sport Trustees Date:

Appendix l - Unadjusted Mlsstatements ASCB Charitabla Fund Impact on surplusl (defiGIt), Debit Credit Surplusl (deficlt) per financial statements (1,391,IM6) Accrued Incoff£ (BIS) SFonsorship Income (S(FA) Arrow SpOns￿81NP contract to be accrued 16,000 15,000 15,OLX) Final surplusl (deficlt) ￿ adjustments were adopted (1,376,046)

Reglstered number: 06569008 Charity number: 1123854 ASCB Charitable Fund. (A company limited by guarantee) Trustees. report and financial statements For the year ended 31 March 2025

ASCB Charitable Fund (A company Ilmlted by guarantee) Contents Page ReferonGe and administrativ• d•tail8 of the Charfty. Its Trustsos and Advisers Trusts•s' report 3-11 Ind•pend•nt audltorfs r•port on the financial statsmonts 12-15 Consolldated stalement of flnanclal actlvltles 16 Consolidated balance sheet 17 Charity balance sheot 18 Consolldatgd statement of cash flows 19 Nots8 to the flnanclal statements 20-37

ASCB Charitabl• Fund (A company limltsd by guarants•) Referonco and administrative details of the Charity, its Trustees and Advisers For the year end•d 31 March 2025 Trustees Major General J M Senior CBE, Chalr Brigadier J W Taylor MBE Brlgadler (Retd) N C Alllson CBE Brigadier P T Quaite OBE Brigadier S W Rayson Colonel C Winship (appointed 12 December 2024) Colonel R H Noott Mr D H A Rowe, NED Financial Advlsor Warrant Offi￿r Class 1 (Command Sergeant Major) J L Pearson {appolnted 18 July 2024) Brigadier A Kimber (resigned 18 July 2024) Brigadier C D Davies OBE (resigned 12 December 2024) Warrant OffI￿r 1 (Command Sergeant Major) S L Cox (resigned 18 July 2024) Company r•gister8d number 06569008 Charity r•gistsr•d number 1123854 Reglstered offlce Alexandra House St Johns Street Salisbury Wiltshire SP12SB Principal oporating office Mackenzie Bullding Fox Lines, Queens Avenue Aldershot Hampshire GU112LB Company secretary Wilson {Company Secretaries), Limited Lottery Llcence Number 160 1508 Independent auditor Kreston Reeves LLP Chartered Accountants Statutory Auditor 2nd Floor, Maritime Place Quayside Chatham Maritlme Chatham Kent ME4 4QZ Page 1

ASCB Charltable Fund (A company limltsd by guarantee) Reference and administrative detalls of the Charlty, Its Trystees and Advlsers (contlnu•d) For the year ended 31 March 2025 Bank•rs The Royal Bartk of Scolland (Holvs Farnborough) LaKrie House Vlctorla Road Famborough Hampshire GU14 7NR Solicitors Wilsons Alexandrd House St John's Street S81isbury Wiltshire SP12SB Dirnctor Major General (Retd} Darrell Peter Amison Page 2

ASCB Charitabl• Fund (A company limited by guarantee) Trustees. report For the year.ended 31 March 2025 The ASCB Charitable Fund (ASCB CF) was formed on 8 October 2009. All assets from the ASCB Trust Fund were transfe￿ed into the incorporated Charlty No 1123854. This report covers the ASCB CF'S activities for the period 1 April 2024 to 31 March 2025. The annual report serves the purposes of both a Trustees, report and Directors, report under company law. The Trustees confim that the annual report and financial statemehts of the Charity comply with the current statutory requirements, the requirements of the CharitVs governing document and the provisions of the Statement of Recommended Practlce (SORP) applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard appllcable In the UK and Republic of Ireland {FRS102) (effective 1 January 2019). Since the group and the Charity qualify as small under section 383 of the Companies Act 2006, the Group strategic report required of medium and large companles under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. The group and the Charity also trade under the name Amy Sport. Objectlves and activities a. Pollcies and objectives Army Sport .Charftable Fund's (ASCF) objects were drafted and approved in October 2009 and reviewed - and deemed to be fit for purpose - as part of the development of the Army Sport Plan in 2023. The objects of the Charlty, whilst broad. are given focus through the Army Sport Plan. The charitable objects are to promote for the public benefit: the promotion of the efficiency of the Armed Forces of the Crown, and in particular the British Amiy (including its veterans, auxiliary and reserve forces), by such charitable means as the Trustees shall think fit including but not limited to raising physical fitness, fostering esprit de corps and enhancing morale through participatlon in sports and adventure training; the advancement of any charitable purpose benefiting serving and former serving personnel of the British Amiy (including its veterans, auxiliary and reserve forces). and dependents of such persons; the support and encouragement of the Amiy Cadet Force and Army contlngents of the Combined Cadet Force by such charitable means as the Trustees shall think fit Including but not limited to the promotion of physical fitness. development and training of its members. In setting objectives and planning for activities, the Trustees have glven due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. Page 3

ASCB Charltable Fund {A company limited by guarantse) Trustees. roport (contlnued) For the year ended 31 March"2025 Objectlves and activities (Continuod) b. Actlvltles undertaken to achieve objectives The ASCF meets its objects through the following principal activities: Annual operating grants across 49 sports associations and unions. Further grants are made to the Amiy Sport High Performan￿ Pathway (ASHPP). corps headquarters and HQ RC Physical Development (PD) Branch, in order to support the planning and delivery of grassroots to high perf0rrnan￿ sport in all regions of the UK. Monthly grants in support of Overseas Sports Visits, training camps" intemational and Olympic competitor grants: and ACSO 1209 activity (adventure and challenge events). Awarding grants to sport associations and unions for specific items of sporting equipment for which there is no public funding or other grants available. Awardlng capital grants for investment in sports facilities for which no public funding is available. And doing so in collaboration with other funding bodies. Awarding an annual grant to The Ulysses Trust in support of Amiy Cadets. Awarding grants to the Army Adventurous Training Group in support of Level 3 expeditions. c. Grant-maklng pollcies The Trustees exercise control over the following grants: All requests for annual operating grants. sports equipment grants. and grants to the ASHPP, corps headquarters, HQ RC PD Branch, The Ulysses Trust and the AATG are submitted to Trustees for their consideration and approval at the winter Army Sport Board meeting. Major capital investment projects such as sports infrastructure are dependent on business case submissions and approval by Trustees. noting CEO Army Sport has delegated financial authority to approve grants up to £50K. Trustees are appraised of all grants approved by the CEO at the end of the financial year. The Army Sport Grants Committee (CEO, COO, Hd Fin and Hd ASL) sits each month to consider and award granls from the Amy Sport Lottery (ASL). The grants support activity such as Overseas Sports Visits and training camps, and intemational and ol￿pIC competitor grants. Further details of ASL grants can be found in Defen￿ Instructions and Notices 2023DIN10-013. d. Volunteers There are 49 recognised sports played across the Army, several of which have many disciplines. The majority (33 associations and unions) are run solely by volunteers who are both serving and retired members of the Army. The volunteers are supported by an Army Sport executive team staffed by full and part-time stsff who are in tum funded through both public (GIA) and charitable (ACF) funds. Volunteers are critical to delivering Army Sport's mission and the main effort: 'maximising participation in sport.. Page 4

ASCB Charitabl• Fund (A Company limited by guarantee) Trustees. report (contlnued) For th• year •nd•d 31 March 2025 Obj•ctives and activities (continued) Main activities undertaken to further the Charlty's purposes for the public benefit The Trustees have regard to the Charity Commlsslon's public benefit guidance in deciding how the Charltys resources are allocated. mindful that the Charities Act 2011 sets 'the promotion of the efficiency of the Armed Forces, as a charltable purpose for public benefit. As one of the Army's central charities, Trustees believe the charitable purposes of the Charity meet the public benefit test in that they help prepare soldiers for operatlons by improving physlcal fitness, mental resilience, leadershlp, teamwork and recruiting and retention. Sport therefore contributes to the Army's fighting power and efficiency and is of public benefit. f. The Amiy Sport Financial Plan 2024-28 The inaugural Army Sport Financial Plan, covering the period 2024-28. was approved by Trustées in December 2024. The plan was used to forecast expenditure of £5.5M for FY 24125 as highlighted below. with actual expenditure being £5.3M due largely to a project to refurblsh rugby pitches at Lyneham not taking place. The Financial Plan supports Trustees, decision-making and adopts the '4Ps' (Participation. Perfomance, Partnerships and Places) as a framework to guide the allocation of funds: Participation. 80 /0 of funds were allocated to 'participation' the main effort - and included operating grants to ass¢xiations and unions; ASL direct grants. RC and Corps grants. SEG and SOTR. Perfomiance. 90/0 of funds supported the Army Sport High Perfomance Pathway {ASHPP) and other high-performance actlvity. Partnerships. 30/0 of funds were granted to the Anny Adventurous Training Group (MTG) and The Ulysses Trust. Places. 80/0 of funds_often used in collaboration wlth other funding bodies sports infrastructure. were directed to improve Achievements and performance a. Key performance Indl&ators A new Amiy Sport Plan 2024-2026 was published in November 2024. The Plan, directed by 5 strategic objectives and 14 focus areas. set the Army Sport mission as 'Hamesslng the power of sport to improve physical fitness; mental resilience; leadership; teamwork; recruiting and retention. Our achievements are considered agalnst maximising participation in sport: support to engage to recruit activity, support to Defence engagement; building partnerships: and growing income through the ASL and sponsorship. b. Revlew of activities This is the fourteenth year of reporting for the ASCF. Overall, the ASCF remains healthy. The fund is vnrth £11,835.270 of general funds and £35,955 of restricted funds. Whilst a decrease of some £1.391,046 when compared to the previous FY. Trustees have ensured expenditure meets the charftable objects. Total income for the ASL dropped slightly to £5,866.021 (FY 23124: £5,940,643). Overall expenditure increased by £2,197,157 to £8,812,545 (FY 23124: £6,615,388) and apportioned as: particlpation grants: £5.329.000 (FY 23124: 2.355,964 - including capltal grants); ASHPP grant: £297,000 (FY 23124: 371,098). capital grants: £285.000' ASL prizes and operating costs: £1,860.000 (FY 23124: £1.179,877)' staff salaries: £433.716 {FY 23124: 358,527). and support costs: £522,057 (FY 23124: £316.463) (see note 11 for a breakdown of support costs). Page 5

ASCB Charltable Fund (A company limited by guarantee) Trustees. report (continuedl For the year ended 31 March 2025 Achievements and performance (continued) The Balance sheet has remained healthy wlth cash at bank and in hand totaling £1,845,614, compared to £1,396,183 last year. The Charity has sufficient free reserves to cover 1 year of expenditure 8nd grant making (c£5.1M) and held a £5M contingency against the pension liability. The latter has reduced by £2.5M as the Army HQ has accepted 50 % of the pension liability is held on their ledger. Following the release in June 2024 of the inaugural Army Sport's Impact Report, the next edition will encapsulate the FY 24125 achievements and be published in September 2025. The Impact Report will recognise the support of sponsors, charity partners, players of the ASL, and grants received from both public and non-public sources. Sport in the Amy is also supported by public funding for the provision and maintenance of synopsls scaled sports facilities, along with the Sports Equipment Grant (SEG), which is distributed by the chain of command and Army Sport. The publicly funded element of the SEG has been reduced thus placing additlonal demand for financial support from non-public funds. An annual Balance of Investment process for Regional submissions for public funding of infrastructure informs the Command Infrastructure Development Plan. Submissions are graded against a matrlx of value of operatlonal need and invariably some sporting facilities do not score as highly as projects with a hlgher operational need. The statement of need prepared for those public funding rounds provide evidence in support of applications for charitable funding. Whilst Category 1 sports are eligible for publicly funded provision and maintenance, there appears to be growing demand for support from non-public funds. The ASCF Trustees remain incredibly grateful for the outstanding financial support provided by military charities such as the Army Central Fund (ACF), the Army Welfare Grants Committee (AWGC). The Nuffield Trust (NT) and the Amiy Benevolent Fund {ABF). The ASCF has provided the following grants: Sports Assoclatlons & Unlons annual grant. Trustees approved annu81 grants of £2.617M (£1.741 M opersting grants, £0.591M SEG and £0.227M SOTR) to the associations and unions for FY 24125, an Increase of £0.269M on the £2.348M approved by Trustees in FY 23124. In addition, Trustees noted requests for capital grants totaling £0.437M, albeit decisions to invest will be decided on a case-by-case basis following business case submission. ASL Grants. ASL direct grants in FY 24125 totaled £1.1M an all-time high. Grants supported 262 activitles, of whlch there were 174 Overseas Sport Visits and Trainlng Camps, 78 International Compets'tor Grants. 32 Adventurous Training (AT) expeditions and 10 activities not classified as sport or AT but were comparable and of benefit to the Army. 2.724 personnel participated in these activities, of which 616 (290A) were women. ASCF infrastructure grants. Investment in sports facilities at RMAS, Ihe Tidworth Equine Centre and the AISTC at Thorney Island are complete. Trustees will consider an investment proposal sports facilities at Catterick Garrison at their Board meeting in August 2025. Ulysses Trust. We continue to support Cadets via The Ulysses Trust Cadet. The previous 3-year deal at £50K pla ended in 2024. Trustees moved to an annual award which sits at £60k for 2025. Page 6

ASCB Charltable Fund (A company Ilmlted by guarantee) Trustees. report (contlnued) For tho year ended 31 March 2025 Achlevements and performance (continued) c. Investment pollcy and parformanco The financial objective of the Charity is to generate sufficient funds to support the Army Sport associations and unions, annual running costs and to provide non-public funding for the development of sports Infrastructure, equipment and activities. The Investment Objectives are: The ASCF assets should be invested widely and be dlverslfied by asset class and by security. Asset classes may Include cash, bonds, equities, property, hedge funds, structured products. private investments, commodltles and any other assets deemed suitable and complying with Charity Commission guidan￿. The base currency of the investment portfolio is Sterling. The ASCF aims to generate growth in real tems in both capital and income over the long term. The Trustees have adopted a total retum approach. There is no requirement for dividend Income from ASCF investments. The Trustees have not set a speclfic annual rpturn target. However, there are occasions when investments are required to fund major projects and to also fund annual grants across the 49 sports and wider partners. The Investment Risk approaGh is shown below: The ASCF Trustees meet three times per year to dSscuss finances. Any decisions are made in light of the income the ASL is forecast to produce and the assets of the ASCF. This approach works hand-in-hand with the Financial Plan. The medium-term risk is that the income from ASL undershoots forecasts. Flnancial review a. Going concern The Trustees have a reasonable expeGtation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the 'going concern, basis in preparing the financial statements. Further details regarding the adoption of the 'going concern, basis can be found in the accounting policles. b. Reserves pollcy ASCF Trustees have directed that sufficient reserves are retsined to be able to sustain the delivery of sport In the Army and meet its annual liabilities should no income be avallable for a maximum of 12 months. This requires the retentlon of funds to honour: The ASCF'S contrlbution to the annual sports association grants and the ASHPP. The ASL'S grants to partlclpants of OSVS and training camps. Any capital investment grants that have been approved. A 500/0 share of Army Sport's pension liability based on the latest actuarlal assessment. Page 7

ASCB Charitable Fund (A company limitsd by guarantee) Trustees. report (continued) For the year ended 31 March 2025 c. Risk management objectlves and pollcles The Army Sport RIO Register captures the strategic risks, issues and opportunities across all Amy Sport functions. The RIO Register is reviewed by Trustees three times per year at each Army Sport Board meeting. The principal risk to operations is a cyber-attack that could adversely affect the confidentiality, integrity and availability of the charitys information systems and data. To mitigate this risk Army Sport implements information security and data protection policies" provides training and imposes access control for all staff. has network security provided by Zen Zero; conducts bi-annual phishing exercises and annual penetration testing on Army Sport's IP address and websites. In addition. data protection impact assessments are conducted on all new software projects that process personal data. d. Results for the year The ASCF continues to perform well and Trustees continue to have confidence in the investments which are held within the BlackRock Armed Forces Charitable Growth & Income Fund (AFCG&I). ASCF investments remain healthy and are kept under constant review by Head Finance. ASL income, though slightly reduced on FY 24125, is now increasing, and we continue to maintain reserve funds. Trustees remain confident that income streams continue to provide sufficient funds to meet objectives. Fundralslng. Unlike the majorlty of Charitable Funds. the ASCF is not currently requir8d to raise funds through public charitable donations or appeals. The ASCF generates funds through three primary SoUr￿s. The ASL. The ASL provides the financial lifeblood of the ASCF. Sponsorshlp. Sponsorship is an increasingly important component of funding sport in the Amy. There are currently more than 100 sponsors across 49 authorised sports. AFCG&I Fund. Trustees changed investment holdings to accumulation units in August 2018 having confirmed that income from investments (dividend) was no longer required. ASL Incom•. The ASL continues to generate essential non-public income for sport. ASL income this FY amounted to £5.866M, a slight reduction of £75K on the last year FY (£5.941M}. The ASL marketing strategy includes increased awareness and marketing through social media and collaborating closely with Army training units and Corps Headquarters. Although the ASL continues to operate in a challenging financial climate, ticket sales are currently c115.000 per week - an increase of 7,000 on the previous year. £1.62M was distributed.to 1,700 prize winners and as previously reported. grantg totaling £1.1M were approved, before £2.923M {FY 23124.- £2.910M) was transferred to the ASCF. Investments. The ASCF investments continue to be managed by BlackRock through the AFCG&I Fund. During the FY, there was £2,050,000 Gash drawdown and an overall unrealised loss of £53.078. The funds were valued at £11.233,660 (FY 23124: £13.309.307) as at 31 March 2025. ASCF Operating Costs. Most Army Sport operating costs are funded by MOD GIA and an annual ACF grant. No Trustees are remunerated by the ASCF although the ASCF funds 8 members of staff at £433,716 (FY 23124: 358.527). Support costs total £522,057 (FY 23124.. 316.463) which includes expenditure on accommodation for sports teams. early payments associated with Project HARINGTON, and re-branding costs. A breakdown of support costs is at note 11. Page 8

ASCB Charltable Fund (A company limlted by guarantea) Trustees, report (continued) For the year ended 31 March 2025 Structure. governance and management a. Constitution The ASCF is a company limited by guarantee. It was incorporated on 17 April 2008 and adopted by wrltten special resolution on 8 October 2009. The ASCF was registered at Companies House on 22 October 2009 (Company No: 6569008) along wlth the Memorandum and Articles of Associations of the ASCF. The transfer of assets from the ASCB Trustee Fund to the ASCF was completed on 30 October 2009. The governing documents are lodged with the Charity's Solicitors (Wilsons). With effect from 31 March 2012, the TA Sports Board was disbanded and merged into the then ASCB along with its assets. The ASCF'S governing documents have been amended accordlngly. b. Methods of appointment or eloctlon of Trustees The ASCF has its own Board of Trustees whlch Is formed by 7 ex officio members, two honorary members and a Non-Executive Dlrector. Those Trustees who are ex officio members of the Board represent the Armls command structure and have an interest in developing the Armls fighting power through sport in the Army. The General Officer Commanding Regional Command (GOC RC) Is the Chair of the Board. Trustees are normally appointed for a 3-year term and can be renewed for up to a maximum of 9 years. Trustees meet three times year in the spring, summer and winter and require a minimum of at least three Trustees to form a quorum. Elected Trustees are selected through nomination of the ex officio members and endorsed by the Chair and President. The Army Reserve is represented by Deputy Commander Home Command who is an ex officio Trustee, assisted by a member of the Army Sport Executive (S02 Amy Reserve Sport). The military Trustees lie outsid8 the Chairman's (GOC Rc'sl direct chain of command and therefore act independently, Induction of new Trustees Is overseen by the CEO. Training of Trustees is undertaken through a combination of civilian courses and military run seminars and a Trustee Training Register Is held by Army Sport. c. Organlsallonal Structure and decision-making pollcles The Army Sport Executive conslsts of a CEO and 21 other staff members who are responsible for the enabling functions in support of those planning and delivery sport for our soldiers. The Trustees delegate the day-to-day running of the ASCF to the CEO and his Immediate staff. The CEO and hls staff strive to deliver the Army Sport Plan which is supported by the Army Sport Financial Plan. The CEO manages and govems sport played in the Army through 49 sports associations and unions who receive direction through Army policy for sport (AGAI Volume 1, Chapter 5 Sport) and an Army Sport Plan that looks out at least two years. The Army Sport Financial Plan covers a 5-year period. Each associationlunion receives an annual operating grant from Army Sport and is required to Issue its own Management Plan as part of their annual bid for operating funds. Army Sport report to the Ministry of Defence through the United Kingdom Amied Forces Sport Board (Pers Pol provides the Amils representative with Army Sport in attendance) and to ECABIEXCO through Comd SJC (UK) who is President of Army Sport. Army Sport's sponsor branch is the Directorate of Personnel Policy at Army HQ. Army Sport and its associations and unions maintsin strong links with UK Sport, the national sports councils and the relevant Natlonal Governing Bodles (NGBS) for each sport. There is a clear dlvision be￿een the Army Sporvs military reporling lines and the ASCF whlch reports to the Charity Commisslon. d. Pay policy for key management personnel The ASCF employs 8 members of staff. five to manage and run the Army Sport Lottery (ASL), Hd ASHPP, a Hd Sponsorship & Commercial and a Media Administrator. Staff pay and pay scales are linked to the Civil Service pay system for non-industrial staff. Page 9

ASCB Charitable Fund (A ¢ompany limitod by guarantee) Trusts•s' report {contlnued) For the year ended 31 March 2025 Structure. governance and management (contlnued) •. Related party relatlonshlps The only significant related party relationship is between the Amiy Sport executive and the ASCF; the Army Sport staff are classified as Crown Servants. Funding of the Army Sport executive is through a 60.40 combination of GIA funding and an annual grant from the ACF. The roles of the Army Sport staff and the ASCF are inextricably linked and are complimentary in supporting Army Sport's mission. Plans for future periods The current and future focus remains delivery of the Army Sport Plan 2024-2026. The plan will be formally reviewed and refreshed in 2026 and will look out at least two years to 2028. Directed by the current strategic objectives and focus areas, Army Sport must continue to grow income via the ASL and sponsorship. Demand for funds is increasing but we must now resist the temptation to drawdown cash from the investment fund to pay for day-to-day expenditure. Invested funds should be largely reserved for major capital investment projects. We will seek to better promote the ASL to the more th'an 30.000 serving soldiers who are not currently playing the lottery. Building on the success of our sport sponsorship partnership with Mongoose, sponsorship income continues to grow and we will seek greater sponsorship of Corps sport over the next 12-24 months. We will continue to encourage sport in the North and the regions with Trustees considering a major investment proposal in sporting facilities at Catterick Garrison at their August 2025 Board meeting - aligned to Focus Area 6 of the Army Sport Plan. A further business case will be submitted for Project HARINGTON. HARINGTON (delivery of an Army Sport App) has the potential to modemise and digitise the awareness. underslanding and communication of sport in the Army and the way we connect and engage with our soldiers. The project is aligned to Focus Area 4 of the Army Sport Plan. Army Sport will contlnue to support EtR actlvrty and seek to develop and exploit our relationship with key partners induding UK Sport, Sport England and Loughborough University. An update on approved capital projects is as follows". Royal Military Academy Sandhurst (RMAS) - two new 3G sport pitches, funded by ASCF {£1.8M) and RMAS internal funding, were formally opened on 30 Jul 25. MOD LynehamlHQ REME sports pitches have a Trustee approved grant of £0.285M to develop new floodlit rugby pitches. Due to a lack of public funds, the project is likely to be deleted or deferred at the Aug 25 Amiy Sport Board. In August 2023, the Trustees approved a £0.225M grant for a training room. workshop and storage facility at The Army Inshore Sailing Centre at Thoiney Island. Work was completed in Jan 25 and officially opened in Apr 25. The Amied Forces Equine Charity (AFEC) received a grant of £50K in Jul 24 to support the resurfacing of the Tidworth Equine Centre Outdoor Arena. This is a collaborative project with both AFEC and The Nuffield Trust. Although this sum was within the CEO'S delegated powers. Trustees were briefed and noted the grant in Mar 24. The Centre was opened in Sep 24. Page 10

ASCB Charitable Fund (A company limited by guar.antee) Trustees. report (continued) For th• year ended 31 March 2025 statement of Trustees. re8ponslbllltles The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees, report and the financial ststements in accordance with applicable law and United Kingdom Accounting Standards (Unlted Kingdom Generally Accepted Accounting Practice>. Company law requires the Trustees to prepare financial ststements for each financial year. Under company law, the Trustees must not approve the financlal statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Charlty and of thelr Sncomlng resources and application of resources, includlng their income and expenditure. for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policles and then apply them conslstently; observe the methods and principles of the Charltles SORP (FRS 102); make judgements and accounting estimates that are reasonable and prudent; state whether applicable UK Accountlng Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the flnanclal statements on the going concern basls unless It is inappropriate to presume that the Group will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufflclent to show and explain the Group and the CharitY.s transactions and disclose with reasonable accuracy at any tlme the financial position of the Group and the Charity and enable them to ensure that the financia5 statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularltSes. Disclosure of information to auditor Each of the persons who are Trustees at the time when this Trustees, report Is approved has confimied that: so far as that Trustee is aware, there is no relevant audit information of which the charftable group's auditor is unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditor is aware of that infomation. Audltor The auditor, Kreston Reeves LLP, has Indicated his willingness to continue In office. The designated Trustees will propose a motion reappointing the audltor at a meeting of the Trustees. Approved by order of the members of the board of Trustees and signed on their behalf by: Major General J M Senior CBE Trustee Date: Page11

ASCB Charitable Fund (A company Ilmlted by guarantee) Ind•pendent audltorfs report to tho Members of ASCB Charltable Fund Oplnlon We have audited the financial statements of ASC8 Charitable Fund (the 'Parent Charity) and its subsidiary (the 'Group') for the year ended 31 March 2025 which comprise the Consolidated Statement of financial activities, the Consolidated Balance sheet, the Charity Balance sheet. the Consolidated Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework thal has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements- give a true and fair view of the state of the Group's and of the Parent Charitys affairs as at 31 March 2025 and of the Group's income and application of reSoUr￿s. including its income and expenditure for the year then ended; have been properly prepared in accordance with United Kingdom Generally Acceptsd Accounting Practice: and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act2011. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those stsndards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financlal Reporting Council's Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relaling to events or conditions that. individually or collectively, may cast significant doubt on the Group's or the parent charitable companWs ability to continue as a going concem 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 concem are described in the relevant sections of this report. Page 12

ASCB Charitable Fund (A company limited by guarantee) Independent auditor's raport to the Members of ASCB Charitabl• Fund (continued) Other information The other infomiatlon comprises the information included in the Annual report other than the flnanclal 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 ststements 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 Inconslstent with the financial statements or our knowledge obtained in the course of the audlt. or otherwise appears to be materially misstated. If we identrfy 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 perfomed, we conclude that there is a material misstatement of this other Informatlon, we are required to report that fact. We have nothing to report in this regard. Oplnlon on other mattars pr•scrib•d by th• Compani•s Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Trustees, report for the financial year for which the financial statements are prepared is consistent with the financial statements. the Trustees, report has been prepared in a￿rdance with applicable legal requirements. Matters on which we are required to report by excepllon In the light of our knowledge and understsnding of the charitable company and its environment obtslned in the course of the audit, we have not identified material misstatements in the Trustees, report. We have nothing to report in respect of the following matters in relation to which Companles Act 2006 requires us to report to you if. in our opinion: the parent charitable company has not kept adequate and sufflcient 8ccounting records. or retums adequate for our audlt hsve not been received from branches not vlslted by us; or the parent charitable company financlal statements are not in agreement with the accounting records and returns., or certain disclosures of Trustees, remuneration spedfied by law are not made; or we have not received all the information and explanations we require for our audit; or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies. exemptions in preparing the Trustees, report and from the requirement to prepare a Strategic report. Responslbllltles of trustees As explained more fully in the trustees, responsibilities ststement, the Trustees (who are also the Directors of the Charity 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 detemine 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 assesslng the Group's and the Parent Charity's ability to continue as a going concern. disclosing, as applicable, matters related to 'going concern and using the going conGern basis of accounting unless the Trustees either intend to liquidate the Group or the Parent Charity or to cease operations, or have no realistic altemative but to do so. Page 13

ASCB Charitable Fund (A company limited by guarantoe) Independ&nt audltorfs report to the Members of ASCB Charitable Fund (contlnued) Auditorfs responsibilities for the audlt of the financial statements Our objectives are to obtain reasonable assurance about whether the financial ststements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditotrs 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 misslatement when it exists. Misstatements Gan arise from fraud or error and are considered material if. individually or in. the aggregate. they could reasonably be expected to Influen￿ the economic decisions of users taken on the basis of these financial statements. Irregularities. including fraud. are InStan￿S of non-complian￿ 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 prO￿dureS are capable of detecting irregularities, including fraud is detailed below. Capability of the audit in detecting irregularities, including fraud Based on our understanding of the group and charitable sector generally, and through discussion with the Trustees and other management (as required by auditing standards), we identified that the principal risks of non- compliance with laws and regulations related to heatth and safety, antibribery, Gambling Commission rules and employment law. We considered the extent to which non-compliance might have a material effect on the financial ststements. We also considered those laws and regulations that have a direct impact on the preparation of the financial ststements such as the Companies Act 2006, taxation and pension legislation. We communicated identified laws and regulations throughout our team and remained alert to any indicationi of noncompliance throughout the audit. We evaluated management's incents'ves and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate joumal entries to increase revenue or reduce expendrture and management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed by the engagement team included: Discussions with management and assessment of known or suspected instsnces of non-compliance with laws and regulations and fraud; and Challenging assumptions and judgements made by management in its significant accounting estimates. and Confirmation of ￿lated parties with management. and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; and Identrfying and assessing the design effectiveness of controls that managefflent has in place to prevent and detect fraud: and Reading minutes of meetings of those charged with governance and reviewing correspondence with relevant regulatory authorities: and Review of significant and unusual transactions and evaluation of the underlying financial rationale supporting the transactions" and Identifying and testing journal entries. in particular any manual entries made at the year end for financial statement preparation: and Review of the findings of the latest Gambling Commission review: and Performing analytical prO￿dureS to identify any unusual or unexpected relationships. including related party fransactions. that may indicate risks of material misstatement due to fraud. Because of th8 inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a tnaterial 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 concealmont. forgery, collusion. omission or misrepresentation. Page 14

ASCB Charitable Fund (A company limited by guarantee) Independent audltorfs report to the Membors of ASCB Charitable Fund (contlnuad) As part of an audit in accordance wlth ISAS (UK), we exercise professional judgement and malntain professional scepticism throughout the audit. We also: Identify and assess the risks of m8terSal mlsstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audlt evidence that is sufficient and 8pproprlate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, Intentional omissions. misrepresentations, or the override of internal control. Obtain an understandlng of internal control relevant to the audit In order to deslgn audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiv.eness of the Charity's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees. Conclude on the appropriateness of the Trustees, use of the going concern b8sls of accounting and. based on the audit evidence obtained. whether a material uncertainty exists related to events or condltlons that may cast significant doubt on the Charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in my Auditor's report to the related disclosures in the financial statements or, rf such disclosures are inadequate, to modify our opinion. Our concluslons are based on the audit evidence obtalned up to the date of my Auditor's report. However. future events or conditions may cause the charitable company to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the finanGial statements, including the disclosures. and whether the financlal statements r8present the underlyng transactions and events in a manner that achieves fair presentation. Obtain sufficient appropriate audlt evidence regarding the financial Information of the entities or business activities within the Group to express an opinion on the consolldated financial statements. We are responsible for the direction, supeNlsion and perfomiance of the Group audit. We remain solely responsible for our audit opinion. We communicate with those charged with govemance regarding. among other matters, the planned scope and timlng of the audit and significant audit findings. including any signfficant deficiencies In internal control that we identify during our audit. Use of our raport This report is made solely to the Charitls members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the Charitls Trustees. as a t)ody. Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity's members those matters we are required to stste to them in an Auditovs 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 Charity and Its members, as a body, for our audit work, for this report, or for the opinions we have formed. Jam•s Peach FCA (Senior statutory auditor) for and on behalf of Kreston Reeves LLP Chartered Accountants Statutory Auditor Chatham Maritime Date: Page 15

, ASCB Charltable Fund (A company limited by guarantee) Consolidated Statement of flnancial activities (incorporating income and expenditure account) For the year ended 31 March 2025 Unrestricted funds 2025 Restrlcted funds 2025 Total funds 2025 Totsl funds 2024 Note Income from: Donations and legacies Charitable activities other trading activities Investments 1,000 5,866,021 1.235,579 18.085 140,998 185,462 186,462 5,866,021 1,235,579 18,085 140,998 176.723 5.940.643 1,100,660 20.360 137,061 other income Total income 7,261,683 185,462 7,447,145 7,375.447 Expenditure on: Raising funds Charitable activities 2,208,049 6,419,034 2,208,049 6.604.496 2.176.071 4,439,317 10 185,462 Total expendlture 8,627,083 185,462 8,812,545 6.615,388 Net {expendlture)Ilncome before net (lossesvgalns on Investments Net (lossesygains on investments (1,365,400) (25,646) (1,365,400) 125,646) 760,059 756,247 Net movement in funds (1,391,046) (1,391,046) 1,516,306 Reconciliation of funds: Total funds brought forward Net movement in funds 13.226,316 (1,391,046) 35,955 13,262,271 (1,391,046) 11,745.965 1,516,306 Total funds carrled forward 11.835,270 35,955 11,871,225 13.262.271 The Consolidated statement of financial activities includes all gains and losses recognised in the year. The notes on pages 20 to 37 form part of these financial statements. Page 16

ASCB Charitabl• Fund (A company Ilmlted by guarantse) Regist•r•d number: 06569008 Consolldatod balanc• sheet As at 31 March 2025 2025 2024 Note Flx•d assets Investments 15 11,233,660 13,309,307 11,233,660 13,309,307 Curr•nt assets Debtors Cash at bank and in hand 16 22 279,176 1.845,614 302,221 1,396,183 2,124,790 1.698.404 Creditors: amounts falling due within one year 17 (1,487,225) (1.745.440) Net current assets l.Ilabllities 637,565 (47,036) Total assets less current Ilablltties 11,871.225 13,262.271 Total net assets 11,871,225 13,262,271 Charity funds Restricted funds 'Unrestricted funds 18 35,955 11,835,270 35,955 13,226,3J6 18 Total funds 11,871.225 13.262,271 The Trustees acknowledge thelr responsibilities for complying wlth the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small Companles regime. The financlal statements were approved and authorised for issue by the Trustees and signed on their behalf by: Major General J M Senlor CBE Chair Date: 3￿z$ The notes on pages 20 to 37 form part of these financial statements. Page 17

ASCB Charltable Fund (A company limited by guarantse) Reglstered number: 06569008 Charity balance sheet As at 31 March 2025 2025 2024 Note Fixed assets Investments 15 11.233.661 13.309,308 11.233,661 13.309.308 Current assets Debtors Cash at bank and in hand 16 245.376 750.000 257,503 797.938 995,376 1.055.441 Creditors: amounts falling due within one year 17 (1,217,389) (1,548,242) Net currnnt liabilities (222,013) {492,801) Total n•t ass•ts 11,011,648 12,816,507 Charity funds Restricted funds Unrestricted funds 5.959 11.005,689 5.959 12,810,548 Total funds 11,011,648 12,816.507 The Charitvs net movement in funds for the year was £(1,804,859) (2024 - £1.509,848). The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to enlities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Major General J M Senior CBE Chair Date: The notes on pages 20 to 37 form part of these financial stalements. Page 18

ASCB Charltable Fund (A company limited by guarantee) Consolidated statement of cash flows For th• year ended 31 March 2025 2025 2024 Note Cash flows from operatlng activiti6s Net cash used in operating. activities 21 (1,710,645) (1,192,623) Cash flows from invasting activities Dividends. interests and rents from investments Proceeds from sale of investments 18,085 2,050,000 20,360 Net cash provided by investing activiti•s 2,068,085 20,360 Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 357,440 (1,172,263) 1,396,183 2,568,446 Cash and cash equivalents at the end of the year 22 1,753,623 1,396,183 The notes on pages 20 to 37 form part of these financial statements Page 19

ASC8 Charftsble Fund (A company limited by guarantee) Notes to the financial statements For the year ended 31 March 2025 General inforniation The Charity is a private company limited by guarantee, incorporated in England and Wales (company number: 06569008), a charity registered in England and Wales (charity number: 1123854). The Charity's registered office is shown on page 1. The principal objectives are shown within the Trustees Report on page 3. Accountlng pollcles 2.1 Basls of preparatlon of financial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice appllcable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Army Sport Charitable Fund meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognlsed at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The Consolidated Statement of financial activities (SOFA) and Consolidated Balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The Charity has token advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own ststement of financial activities in these financial statements. The financial statements are presented in UK pound sterling, which is the Charity's functional currency, and rounded to the nearest pound. 2.2 Going concern The Twstees consider whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the abllity of the Charity to continue as a going concem. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate reSoUr￿S to continue in operational existence for the foreseeable future and there are no material uncertainkn'es about the Charitys ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial ststements. Page 20

ASCB Charitabla Fund (A ¢ompany limited by guarantee) Notes to the financial statements For the year ended 31 March 2025 Accountlng pollcles (contlnued) 2.3 Income All income Is recognised once the Charlty has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in th8 Consolidated statement of finanaal actlvltles on 8 receivable basis. The balancE of income received for specific purposes but not expended during the period is shovm In the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt. its recognition is deferred and included in credltors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income tax recoverable in relation to investment income is recognised at the time the investment Income Is receivable. Other income is recognised in the period in whlch It Is receivable and to the extent the goods have been provided or on completion of the serv1￿. 2.4 Expendlture Expenditure is recognised once the￿ is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economlc benefits will be required In settlement and. the amount of the obligation can be measured reliably. Expenditure on raising funds includes all expenditure Incurred by the Group to ralse funds for its charitable purposes and Includes costs of all fundralslng activities events and nonrycharitable trading. Expenditure on charitable activities is incurred on directly undertaklng the activities whlch further the Group's objectives, as well as any associated support costs. 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 expendlture is inclusive of irrecoverable VAT. 2.5 Interest receivable Interest on funds held on deposlt is included when receivable and the amount can be measured reliably by the Group., this is normally upon notification of the interest paid or pay8ble by the institution wlth whom the funds are deposited. 2.6 Taxation The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity Is potentialty exempt from taxation in respect of income or rApltal gains received wlthin cate9ories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes. Page 21

ASCB Charitabla Fund (A company limited by guarantoe) Notes to thè financlal statements For the year ended 31 March 2025 Accounting pollcles (contlnued) 2.7 Investments Fixed asset investments are a fom of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date. unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised. are combined and presented as 'Gainsl(Losses) on investments, in the Consolidated statement of financial activities. Investrnents in subsidiaries are valued at cost less provision for impairment. 2.8 Debtors Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid. 2.9 Cash at bank and In hand Cash at bank and in hand includes cash and short-tem highly liquid investments with a short maturlty of three months or less from the date of acquisition or opening of the deposit or similar account. 2.10 Llablllties 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. Llabllitles are recognised at the amount that the Charity antlcipates it will pay to settle the debt or the amount it has re￿iVed 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 those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liakility. The unwinding of the discount is recognised in the Consolidated ststement of financial activities as a finance cost. 2.11 Financial instruments The Group 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. 2.12 Pensions The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year. Page 22

ASCB Charitabl• Fund (A company limited by guarantee) Notes to the flnanclal statements For the year ended 31 March 2025 Accountlng pollcles (contlnued) 2.13 Fund accountlng General funds are unrestricted funds which are available for use at the discretlon of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance wlth speclfic restrictions imposed by donors or which have been ralsed by the Group for particular purposes, The costs of ralslng and administering such funds are charged against the speclflc fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investrnent income, gains and losses are allocated to the appropriate fund. Income from donatlons and legacles Unrestrlcted Restricted funds funds 2025 2025 Total funds 2025 Totsl funds 2024 Donations SOTR grant 1.000 1,000 185,462 30,000 146,723 185,462 1,000 185,462 186,462 176,723 Total 2024 176.723 176,723 Income from charitablg aGtiviti•s Unrestrlcted funds 2025 Total funds 2025 Total nds 2024 Lottery tlcket sales 5,866,021 5,866,021 5,940,643 Total 2024 5,940,643 5,940,643 Page 23

ASCB Charltable Fund (A company Ilmltad by guarantee) Notes to the financial statements For the year ended 31 March 2025 Income from other trading activities Income from fundraising events Unrestrlctad funds 2025 Total funds 2025 Total funds 2024 Sponsorship income 1.235,579 1,235,579 1.100.660 Total 2024 1,100,660 1,100,660 Investment income Unrestrlcted funds 2025 Total funds 2025 Total funds 2024 Interest receivable 18,085 18,085 20,360 Totsl 2024 20.360 20,360 Other income Unrestricted funds 2025 Total funds 2025 Total funds 2024 Un-cashed cheques written back SEPF Repayment from GIA Laurus 26,400 100,000 14,598 26,400 100,000 14,598 24.061 100,000 13,000 140,998 140.998 137,081 Total 2024 137,061 137.061 Page 24

ASCB Charftable Fund (A company limited by guarantee) Notss to the financial statements For the year ended 31 March 2025 Expenditure on raising funds Unrastrlctad funds 2025 Total funds 2025 Totsl funds 2024 ASL prizes and costs Sponsor5hiF) agent's fees ASCB Trading - Legal and professional fees ASCB Trading - Sponsorship events ASCB Trading - Accountancy fees Staff costs 1.623,000 288,333 461 1,623,000 288,333 461 30,284 1,840 265,971 1,653.000 258,601 408 44.137 1.750 218,175 30.284 1,840 265,971 2,209,889 2,209,889 2,176.071 Total 2024 2,176,071 2,176.071 Analysis of grants Grants to Instltutlons 2025 Total funds 2025 Total funds 2024 Associatlon, capital and equipment grants BAE Systems grant ASHPP Grant Sports lottery grants SOTR grants 4,455.430 4,455.430 2,355.964 17,900 371.098 1.179.877 138.324 297,177 1,083.396 185,462 297,177 1,083,396 185.462 6.021,465 6.021,465 4,063,163 Total 2024 4,063.163 4,063,163 Of the total grants payable in the year of £6,021.465 (2024: £4,063.163), £5,836.003 (2024: £3.906.939) was from unrestricted funds and £185,462 (2024: £156,224) was from restricted funds. More detail on the range of instbtutlons that the charity has supported can be found in the Trustees, report. Page 25

ASCB Charitable Fund (A company limited by guarantee) Notes to the financial statements For thè year ended 31 March 2025 10. Analysls of expenditure on charitable activities Summary by fund type Unrestricted Restricted funds funds 2025 2025 Total 2025 Total 2024 Grants to controlling bodies BAE Systems grant ASHPP grant expenditure ASL grants SOTR grants 5,038,461 5,038,461 2,732.118 17.900 371.og8 1.179.877 138,324 297.177 1,083.396 297,177 1.083.396 185,462 185,462 6,419,034 185.462 6,604,496 4.439,317 Total 2024 4.283.093 156,224 4,439,317 11. Analysis of expenditure by activilies Grant fundlng of actlvltles (note 9) 2025 Support costs 2025 Total funds 2025 Total funds 2024 Direct costs 2025 Grants to controlling bodies BAE Systems grant ASHPP grant expenditure ASL grants SOTR grants 60.974 4.455,430 522.057 5,038,461 2,732,118 17.900 371,098 1.179.877 138.324 297.177 1,083,396 185.462 297.177 1.083.396 185,462 60.974 6.021,465 522.057 6.604.496 4.439.317 Total 2024 59,691 4.063.163 316.463 4,439.317 Page 26

ASCB Charltable Fund (A company limited by guarantee) Notss to the financial statements For the year ended 31 March 2025 11. Analysls of expendlture by actlvltles {contlnued) Analysls of dlrect costs Unrestrlctod funds 2025 Total funds 2025 Total. funds 2024 , Staff costs 60,974 60,974 59,691 Total 2024 59.691 59,691 Analysis of 8UPPOrt costs Unrestrlcted funds 2025 Total funds 2025 Total funds 2024 staff costs Computer costs Meetlng expenses Accommodation Bank charges Staff training Office Costs Insurance Project Harrington Marketing Stsff welfa Sundry expenses Legal and professional fèes Trustee training Audltors, remuneration Valuation fees Tennis court rent Car leasing Rebranding Impact reportlng 106,771 24,881 651 140,171 3,908 564 44,287 2,657 49,833 27,514 3,896 10,843 8.503 1,339 30.294 330 13,000 6,475 39,803 6,337 106,771 24,881 651 140,171 3,908 564 44,287 2,657 49,833 27,514 3,896 10,843 8,503 1,339 30,294 330 13,000 6,475 39,803 6,337 80,661 26.555 1.424 76,997 3,557 1,674 40.301 1,245 30,255 5,723 11,851 1.987 7,253 16.980 10.000 522.057 522,057 316.463 Total 2024 316.463 316,463 Page 27

ASCB Charitable Fund (A company Ilmited by guarantee) Notes to the financlal statements For the year ended 31 March 2025 12. Audltor's remuneration 2025 2024 Fees payable to the Charity's auditor ft)r the preparation and audit of the Charitls annual accounts Fees payable to the Charity's auditor in respect of: The preparation of the annual accounts and tax return of the Charitvs subsidiary All non-audit services not included above 15,120 14,150 1,840 2,706 1,750 1,080 13. Staff costs Group 2025 Group 2024 Charlty 2025 Charity 2024 Wages and salaries Social security costs Pension costs 377,335 28,574 27,807 310.340 24,771 23.416 377,335 28,574 27,807 310,340 24,771 23,416 433,716 358,527 433,716 358.527 During the year, the charity entered into a settlement agreement with a former employee. The total cost of the settlement was £20,000. The amount has been recognised. In full wlthin the Statement of Financial Activities. The average number of persons employed by the Charity during the year was as follows: Group 2025 No. Group 2024 No. Charlty 2025 No. Charity 2024 No. Administration ASHPP Sponsorship No employee received remuneration amounting to more than £60,000 in either year. None of the employees of the Charity were considered to be key management personnel. The key management personnel of the Charity are considered to be the Trustees and those identified as being the key management personnel of the ASCB. GIAIACF Fund (HQ ASCB Operating Costs), who are paid through the ASCB GIAIACF Fund and therefore not disclosed in these accounts. Page 28

ASCB ChariL?ble Fund (A company limited by guarantee) Notes to the tinanclal statements For tho year ond•d 31 March 2025 14. Trustees. remuneration and expenses During the yeaF, no Trustees re￿iVed any remuneratlon or other benefits (2024 - £NIL). During the year ended 31 March 2025, no Trustee expenses have been reimbursed by the charity (2024 - £NIL). 15. Flxed asset Investments Llsted investments Group Valuatlon At 1 April 2024 Disposals Revaluations 13,309,307 (2,022.568) {53.079) At 31 March 2025 11,233,660 Net book value At 31 March 2025 11,233,660 At 31 March 2024 13,309,307 All of the listed fixed asset investments are held in the United Kingdom. in the fom of BLK Armed Forces Charitles Growth & Income A Acc shares. Investments in subsidiary Listsd companles investm•nts Total Charity Cost or valuation At 1 Aprll 2024 Disposals Revaluations 13,309,307 13,309,308 (2,022.568) (2,022,568) (53,079) (53,079) At 31 March 2025 11,233,660 11,233.661 Nat book value At 31 March 2025 11,233,660 11.233,661 At 31 March 2024 13,30g,307 13,309,308 Page 29

ASCB Charitable Fund (A company Ilmlted by guarantee) Notes to the financial statements For the year ended 31 March 2025 15. Flxed asset Investments (continued) The wholly-owned trading subsidiary, ASCB Trading Limlted, which is incorporated in England and Wales. pays all its profits to the Parent Charity. 16. Debtors Group 2025 Group 2024 Charity 2025 Charity 2024 Due within one year Trade debtors Amounts owed by group undertakings Other debtors 233.800 234,860 200,000 45,376 200.000 57,503 45.376 67.361 279,176 302,221 245.376 257.503 17. Credltors: Amounts falllng due wlthin one year Group 2025 Group 2024 Charity 2025 Charty 2024 Bank overdrafts Trade creditors Other t8xation and social security other creditors Accruals and deferred income 92,016 92,016 177,058 20,140 2,598 727,160 818,484 93,912 2,598 727,160 818.484 796,538 504,759 620,614 504,759 Accrued grant awards 1.487,225 1.745,440 1.217,389 1.548.242 Group ?025 Group 2024 Charity 2025 Chatity 2024 Analysis of deferred income Deferred income at 1 April 2024 Resource5 deferred during the year Amounts released from previous periods 447,280 563,773 447,280 563,773 463.480 447.280 463,480 447.280 (447,280) (563.773) (447,280) (563,773) Deferred Incomo at 31 March 2025 463,480 447,280 463,480 447,280 The Group's deferred income balance is made up of lottery ticket income received in advance. Page 30

ASCB Charitable Fund (A company Ilmlted by guarantee) Notes to the flnanclal statements For the year ended 31 March 2025 18. Statement of funds statement of funds . current year Balance at 31 March 2025 Balance at 1 Aprll 2024 Gainsl (Losses) Income Expandltura Unrestrictad funds ASCB Unrestricted 13,226,316 7,261,683 (8,627,083) 125,646) 11,835,270 Restricted funds BAE Systems SOTR 27,556 8,399 27,556 8,399 185,462 (185,462) 35.955 185,462 (185,462) 35.955 Total of funds 13,262.271 7,447.145 (8.812,545) {25,646) 11.871,225 The BAE Systems funds are held for the purpose of sports scholarships to elite athletes. The Statement of Training,Requirement (SOTR) grant is provided by Amiy HQ to ensure that all sports have the requlred (qualified) officials and coaches to safely operate Army Sport. Page 31

ASCB Charitable Fund (A company Ilmlted by guarantee) Notes to the flnanclal statemonts 'For th• year and￿ 31 March 2025 18. Statement of funds (contlnued) Statement of funds - prior year Balance at 31 March 2024 Balance at 1 Aprll 2023 Galnsl (Losses) Income Expendlture Unrestrlctsd funds ASCB Unrestrlcted. 11,730,509 7,198,724 (6,459,164) 756,247 13,226,316 Rostrlctod funds BAE Systems SOTR 15,456 30,000 146,723 (17,900) (138,324) 27,556 8,399 15,456 176,723 (156,224) 35,955 Total of funds 11,745,965 7,375,447 (6,615,388) 756,247 13,262,271 , Page 32

ASCB Charitabl• Fund (A company limited by guarantee) Notes to the financlal statements For the year ended 31 March 2025 19. Summary of funds Summary of funds - curr•nt year Balanc• at 31 March 2025 Balance at 1 April 2024 Gainsl (Losses) Incom• Exp•nditurn General funds Restricted funds 13,226.316 35.955 7,261,683 185,462 (8,627,083) {185,462) (25,646) 11,835,270 35,955 13.262,271 7,447,145 (8,812,545) (25,646) 11,871,225 Summary offunds - prior year Balance at 31 March 2024 Balance at 1 Aprll 2023. Galnsl (Losses) Income Expenditure General funds Restricted frjnds 11,730,509 15,456 7,198,724 176,723 (6,459,164) {156,224) 756.247 13,226,316 35,955 11,745,965 7,375,447 (6.615,388) 756,247 13.262.271 20. Analysis of net assets between funds Analysls of net assets betwa•n funds - current year Unrestricted Restrfctod funds funds 2025 2025 Total funds 2025 Fixed asset investments Current assets Creditors due wlthin one year 11,233,660 2,088,835 (1.487,225) 11,233,660 2,124,790 {1,487,225) 35,955 Total 11,835,270 35,955 11,871,225 Page 33

ASCB Charftable Fund (A Company Ilmlted by guarantee) Notss to the flnancial statements For the year ended 31 March 2025 20. Analysis of net assets between funds {continued) Analysis of not assets between funds - prior year Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Fixed asset investments Current assets 13.309,307 1,662,449 (1.745,440) 13.309.307 1,698,404 (1.745.440) 35.955 Creditors due within one year Totsl 13.226,316 35.955 13.262.271 21. Reconclllatlon of net movement in funds to net cash flow from operatlng activities Group 2025 Group 2024 Net incomelexpenditure for the year (as per Ststement of Financial Activities) (1,391,046) 1,516,306 Adjustments for: (Gains)Ilosses on investments Dividends, interests and rents from investments (Increaseydecrease in debtors Decrease in creditors 25,646 (756,248) (18,085) (20,360) 23,070 (5.867) (350,230) (1,926,454) Net cash used in operatlng actlvlties {1,710,645) (1.192,623) 22. Analysis of cash and cash equivalents Group 2025 Group 2024 Cash in hand Bank overdrafts 1,845,639 (92,016) 1.396,183 Total cash and cash equlvalents 1,753,623 1.396,183 Page 34

ASCB Charltable Fund (A company limited by guarantee) Notes to the financial statements For the year ended 31 March 2025 23. Analysls of changes in net debt At l April 2024 Cash flows At 31 March 2025 Cash at bank and in hand Bank overdrafts 1,396.183 449,431 {92,016) 1,845,614 (92,016) 24. Pension commitments Up until October 2022 employees were members of the Principal Civil Service Pension Scheme"(PCSPS), an unfunded defined benefit penslon scheme. Contributions on a 'pay-as-you-go' basis are credited.to the Exchequer under arrangements governed by the Superannuation Act 1972. A notlonal asset vaSue is ascribed to the scheme for the purpose of detemilnlng contribution rates. The PCSPS is a multi-employer scheme and the organisation is unable to identify its share of the underlylng assets and liabilities of the scheme on a consistent and reasonable basis. The PCSPS Is therefore treated as a deflned contribution scheme and the contributions are recognlsed as they are paid each year. If ASCF was to close. ASCF will be responsible for 50% of the outstanding penslon liability. A valuation of the liablllty was carried out in March 2024 whlch resulted in a valuatlon as at 31 March 2024 of £5.03 million. The liability has not been provided for in these financial statements on the basis that ASCF is going concern. In October 2022, it was agreed wirth Amy HQ (GIA) that no further members could loin the PCSPS. ASCF then entered a government scheme. Peoples Pension, a defined contrlbution scheme. All staff members who have joined SIn￿ this date {8 members of staff) and all new starters in the future will be added to this scheme. 25. Operating lease commltments At 31 March 2025 the Group and the Charity had commltments to make future minimum lease payments under non-cancellable operating leases as follows: Group 2025 Group 2024 Charity 2025 Charity 2024 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 16,721 54,094 132,000 12,000 48,000 144.000 16,721 54,094 132,000 12,000 48.000 144,000 202,815 204,000 202,81 S 204,000 Page 35

ASCB Charltable Fund (A company Ilmltod by guarantee) Notes to the flnancial statements For the y•ar andad 31 March 2025 26. Related party transactlons Due to the close relationship the Charty has viith its trading subsidiary, ASCB Trading Llmited, there are inter-company transactions undertaken within the ordinary course of business. There have not been any other related party transactions during the current or previous financial year. Page 36

ASCB Charitable Fund (A company limited by guarantee) Notes to the flnancial statements For the year ended 31 March 2025 . 27. Controlllng party There is no ultimate controlling party. 28. Principal subsldlarles The following was a subsidiary undertaking of the Charity: Name Company numbor Registered office or principal Principal actlvlty plac• of buslnoss ASCB Trading Limited 11997374 Alexandra House, St Johns Street, Salisbury, Wiltshire, United Kingdom. SP12SB To further the objects of and generate profits for ASCB Charitable Fund Class of shares Holding Included in consolidation Ordinary 100% Yes The financial results of the subsidiary for the yearwere: Name Income Expenditure Profltl(Loss) I Surplusl (Deficlt) for the year Net assets ASCB Trading Limited 1,239,349 {319,078) 920,271 859,578 Page 37