. PROTECTED PII*.*91&1 CHARITY COMMISSION FOR ENGLANO AND WALES Trustees, Annual Report for the period From Period start date 0110112024 To Period end date 3111212024 Charity name: Toyota Manufacturing UK Charitable Trust Charity registration number: 1124678 Objectives and Activities SORP reference Para 1.17 Summary of the purposes of the charity as set out in its governing document "To be and be seen to be a good corporate citizen in the local area by making a difference to our communities and engaging members in community activities. Our key objectives are: To engage our members and encourage their contribution to the community, reward involvement and develop pride in Toyota as a greal place to work. To make a difference to our local communities by making opportunities possible that are not ordinarily available. Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. Para 1.17 and 1.19 Charitable fundraising, mainly through Lean Approach Seminars, as well as other activities. Donating funds through grant applications. targeting members and our local communities of Burnaston and Deeside, member match-funding, volunleering activity and a nominated charity each year. Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit Para 1.1 Yes Additional information (optional) You ma choose to include further statements where relevant about: SORP relerence Para 138 Policy on grant making . PROTECTED PAI*.*gFal Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Para 1.38 other Achievements and Performance SORP reference Summary of the main achievements of the charity, identifying the differen￿ the charity's work has rnade to the circumstances of its beneficiaries and any wider benefits to society as a whole. Para 1.20 Throughoul 2024. supported: _ 01 Charily of the Year 53 Community Grants 27 Member Grants 17 Member Match-Funding 05 Volunteering Activities 03 Road Safety Projects Additional inforniation (optional) You may choose to include further statements where relevant about.. Achievements against objectives set Para 1.41 Performance of fundraising activities against objectives set Para 1.41 Investment performance against objectives Pala 1.41 Other Financial Review Review of the charity's financial position at the end of the period Para 1.21 Raised.. £449,301 Expenditure: £382,321 Cash at Bank: £959,102 Statement explaining the policy for holding reserves stating why they are held Para 1.22 Following two particularly successful years for fundraising, current reserves exceed the Trustee recommended amount. . PROTECTED MI*.*9FUI Amount of reserves held Para 1.22 Reserves at end of 2024 were £992,064. Reasons for holding zero reserves Para 1.22 NIA Details of fund materially in deficit Pafa 1.24 NIA Explanation of any uncertainties about the charity continuing as a going concern Para 1.23 NIA Additional information (optional) You may choose to include further statements where relevant about. The charity's principal sources of funds (including any fundraising) Para 1.47 Lean Approach Seminars. A description of the principal risks facing the charity Para 1.46 Inability to continue Lean Approach Seminars, eg due to new pandemic (Low-med). Reducing interest in TPSILean practices at Toyota (Low). Withdrawal of key partner providing Seminar attendees {Low-Med). Plans for future periods Para. 1.49 To continue to fundraise as we do through Lean Approach Seminars - while considering extending the range of topics covered. Broadening the number of charities that we support, aligning with current criteria. . PROTECTED *gF Structure, Governance and Management Description of charity's trusts- Type of governing document Para 1.25 Deed. How is the charity constituted? Para 1.25 Trust. ioi'al-'".'J Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees Para 1.25 Nomination frorn Trustees of Toyota Manufacturing UK employees. If no nominations received, publicise through the company and interview. Additional information (optional) You ma ch005e to include further statements where relevant about: Policies and procedures Para 1.51 Clear and strong governance exists to ensure adopted for the induction that all new Trustees are inducted and made and training of Trustees aware of their responsibilities, including guidance from the UK Charity Commission for England & Wales. Trustees are encouraged to attend quarterly meetings where financial status and projections are shared and agreed. Meetings also allow Trustees to agree and authorise donations. The charity's organisational structure and any wider network with which the charity works Para 1.51 Charity is guided by Trustees. and administered by Toyota Motor Manufacturing UK Corporate Planning & External Affairs Department Trustees are employees of Toyota Motor Manufacturing (UK) Ltd. Relationship with any related parties Para 1.51 Recruitment and appointment of trustees Para 1.51 New Trustees are nominated following recommendations from exisling Trustees or following interest from members of Ihe Charitable Trusl Working Group. Imiere no suitable recommendation exists, positions are publicised through the company and Trustee interviews subsequently pla￿. Infonnation packs, policies, procedures, are available for interested parties. . PROTECTED Name of CEO and other senior management personnel with whom trustees delegate day to day management Para 1.52 Rob Gorton Corporate Planning & External Affairs Julie Langley Corporate Planning & External Affairs Reference and Administrative details Charity name Toyota Manufacturing UK Charitable Trust Other name the charity uses Registered charity number 1124678 Charity's principal address Toyota Motor Manufacturing (UK) Ltd Burnaston Derbyshire DE19TA . PROTECTED ￿1￿.¥11 Names of the charity trustees who manage the charity Trustee name Office lif any) Dates acted If not for whole year Name of person lor body) entitled to appoint trustee ifan Tim Freeman TMUK-B (Deceased 1 Nov 2024) (Retired 31 Jan 2025) Kevin Potter TMUK-B Kevin Reader TMUK-B Gary Shrimpton Sharon Wilson TMUK-B TMUK-B Mrs J Hendy MrDPHare TMUK-D (Appointed 28 Nov 2024) (Appointed 5 Mar 2025) (Appointed 5 Mar 2025) TMUK-B Mr R J Finchett TMUK-B Corporate trustees - names of the directors at the date the report was approved Dlrector name Name of trustees holding title to property belonging to the charity Trustee name Dates acted if not for whole year . PROTECTED PAII.*yF%i Funds held as custodian trustees on behalf of others Description of the assets held in this capacity NIA Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity's objects Details of arrangements for safe custody and segregation of such assets from the charity's own assets Additional information (optional) Names and addresses of advisers (Optional information) of adviser Name Address Name of chief executive or names of senlor staff members (Optional infomiation) Exemptions from disclosure Reason for non-disclosure of ke ersonnel details Other optional information - PROTECTED MIt*iiiii Declarations The trustees declare that they have approved the trustees, report above. Signed on behalf of the chari 's trustees Signature(s} Full name(s) Position (eg Secretary, Chair, etc) TLu5 Icfr Iw( IL)la S"Te-É Date Charlty r•glstratlon number 1124678 (England and Wah$) TOYOTA MANUFACTURING UK CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 TOYOTA MANUFACTURING UK CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Kevln Reader Gary Shrlmplon Sharon Wltson Ms J H9ndy MrDPH4re Mr R J Flnchett {Appolnted 28 Novornber 2024) (Appolnted 5 March 2025) {Appolnted S Marth 2025} S•nlor manag•mènt Rob Gorton Julh Lanoloy (CO￿Orale Pl8nnlng & Extern81 Affalrs) Icorwrate Plannlng & Ext•mal Affaks) Ch•rlty numb•r 1124078 Prln¢lp•l •ddr• Toyota ManufarAuring UK BumaBton Owby DEI 9TA Ind•pend•nt •xIn￿n•¢ Rogftr8 Spfrncer New3tead Hou80 Polharn Road Nottlngham NG5 1AP Banker• NafvioBt PIC 58 ￿ Peters 8treg1 Derby DE11XL TOYOTA MANUFACTURING UK CHARrrABLE TRUST CONTENTS Tru5teos' report Independent examlnèffs r8pDrt Statement ol financlal actlvllles Balance 8h6et Notes to the ftnandal ¥tgtemonts 7-13 TOYOTA MANUFACTURING UK CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present thfjlr annual report and finanGlal stslemgnts for the year ondod 31 Dg¢gmber 2024. The ffnandal slaternents hav8 b88n prepared In accordance with the accounting policles Set out In note 1 to the financial statements and comply wlth th8 trusl's govemin9 documont, th8 Charfties Act 2011 and 'Accounllng and Reportlng by ChBrlt185.' Statement of Recommended Pr8Ctlce applicable to chari￿98 preparlng th8ir occounl$ in accordanco vlth the Flnancbal Rgportlng Slandard appllcablo In the UK and Republlc ol Iroland {FRS 102)" (effective 1 January 2019). ObJ•CtIv￿ •nd actlvltl•8 The trust's objects aro to b8 and lo be seen lo bo a good corporate cluzan In the local area by maklrwj a (thrence to our communilie8 and engaging mernbers in communlty activities. Our key oblecliveB are.. To ongogo our m8mbèr8 8nd 8ncourage Iholr ¢ontrlbutlon to the wrnmunlty, reward Involvem8nt and develop prfde In Toyota 88 a gr88t plac8 to work. To mak• • dlfference lo our local communlty ty maklng opportunltl¢s posslble thal are ￿t ordlnarfly avallable. Wo do th18 through., Charltablo fvndralsing, mainly throu9h Loan Approach Somlnafs. a8 well as other acllvKle8. Donatlng fund8 through grant appllcallons. targetlng members and our local communllles of Bumaston and D8è81de, member match-fundlng, volwt1e￿ln9 actlvlty and a nomlnated charlly each year. The truslee8 hav8 pald due regard to guidance 18sued by the Ch8rlty Comm188lon In decldlry vknat acllvlll08 tho trust Should undert8ke. Achl•v•monl• and pfrrformancè Durlng the year, thg frjllowlng has been a¢hleved: 53 Grants to ¢omrnunlty group$ I local charttles 27 Mamber granls 17 Member Match-fundlng appli¢allons 5 Voluntgerfng actI￿tIeS 3 Rogd Safety projects 1 Charfty of the year Flnanclal r•vlew During tho year, th8 trust has ralsed £449,301 (2023.. £519,223) and Incurred expondlturè of £382.321 (2023:£225,6011. Cash 8t bank and In hand 8t the year end was £959,10212023'. £921.899). R•sorvas pollcy It Is Ihe pollcy of the trust that unréstrlcted funds whlch have not been des￿na￿d for a speciflc use should be maintslned at a18vel equlvalent to between slx and twelve month's expendliure. Reserves of £350.000 have been recommended by Ihe trustees. The tru51ees r￿n30der thal rpserves at IhS8 level wlll ensure that, In the event Df Significant drop in funding, they will be able to continue th¢ trust'g current activities while consideratlon 15 given to ways in whlch addlllonal funds may be raised. FonE)wing t4YO Particularly 8uccessful yearJ for fundralslng, current reserv￿ exceed the tnjstges recommended amount. Reserves at thg year ond WOTe £992,084 (2023: £925.084). TOYOTA MANUFACTURING UK CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Prindpal funding sourres The trusvs prfnclp81 Bource of fundralslng Is the Lean Approech Somlnars. Mafvrrisks The Irusteos have assg5$gd the major rbsks lo whlch th8 twst Is oxposed, and are satlsfled Ihot syslgms are in plaly to mltlgate exposure to the malor rlsks. The prlnclpal tsks faclno tha trust arè: Inabllity to continue tho Lean Approach Sèmlnars Reduc4ng Intgrgst In TPS l Lean PTaclices at Toyota wtthdrawal of key partners provldlng s•min8r 8tterKl8es, Plans for futuro p•rlod• The trust alms to contlnue to fundral8e through thg Lean AKproach Semlnars. Con81deratknn WEN be glven to extandlng tho rnnge of toplcs ¢overed 81 th6 8emln8rs. Tho tru6t aim8 to broaden the number of charltle8 that St SUPP￿, In allgnment wlth the current criterla. A fom&l Btudy18 currently tsklng plac• In respect of Ihl8. 8tru¢turo, goY•rnan¢• Ind mAnag•m•nt The tru8l18 an unlncorporated entity govemed by a truat deed dated 20 May 2rJo8. The trusi888 who 3erved durlng tho yegr and up to the dats of signaturg of tho flnanclal statements woro: KO￿n Pottgr (Rellred 31 January 2025) Kevln Reader TIM Freeman Gary Shrlmpton Sharon W1180n Ms J Hendy MrDPHgre Mr R J Fln¢h•tt IDeceasod 1 Nolnted 5 March 20251 (hppolnt8d S March 20251 R•cnittment 8nd appolntment of trustees Now Trustses are nominated following rg¢ommendations from existlng trustees or followlng Interest from memb9r3 of the Charftable Trust Worklng Group. Where no suliable recommendallon gxl$ts, PO8ltlons are publlcls8d Ihrough the company and trust88 Interview8 subsequently lake place. Informatlon pack$, polld96, procedures. are availablg for Interested parties. Organisational •tnKture The Trust 18 guidèd by trustoos, and admSnlstered by Toyots Motor Manufacturing UK Corporal8 PlannlrKJ & Extemal Affalrs Department Trustees are 8mploy8•? of Toyota Motor M&nufacturlng (UK) Ltd. Indth and Iralnlng of tnistees Clear and strong governanco exists lo ensure that all new truBlees aro Induclgd and made aware of thelr responsibilitiès. indudin9 guidanco from tho UK Charlty Commission England & Wal8S. Trustees are enLx)uraged to attend quarterly meetkngs where financlal status and prole¢tbns are shared and agre8d. Meetlngs also allow trustees to agree and aulht)rfse donatlons. othor Inforniatlon The Charlty purchased a Toyota Proace In Ihe yoar endthg 3111212020. Tha prtmary purpose of whlch is to problde, free of charge. lo local charltles In nggd of transport. TOYOTA MANUFACTURING UK CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The trust088' report was approvod by thé Board of Tru8teos. Mr R J Flnchètt Tru8t•• TOYOTA MANUFACTURING UK CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TOYOTA MANUFACTURING UK CHARITABLE TRUST I rewt to the trustees on my examlnatlon of the financlal statwnents of Toyota ManufoGturfng UK Charilable TNst {th8 trust) for th8 year ended 31 Docember 2024. Re8pon•lblllll•8 and ba818 ol r•port As the tru8tse8 of the trust you are re8ponslble for the preparntkjn of the financlal 81atements In accordanco wtth the requirernents of th8 Charities Act 2011. I raport in respecl of my •xomlnation of the trust's flnandal 8latements cath8d out under sacuon 145 of th& Charltles Act 2011. In carylng out my èxaminallon I hava followed Ihe Dlrectlon8 glven by the Charlty Cn and Area FoDdbank Speclal Noeds Clrcle- East Mhll8nd8 Spinal MusGular Atrophy UK Tegans Butt8rf118$ In Paradl8e EFGA Ro Dety Hopg Centro 2 The Salvation Army BurtonwUPDn-Trnnl Trn•lopJ Hosplce Umbrella Dfjrby & Derbyshlre Upbeat Communltle8 When you wlBh upr)n a Star Boys and Glrt? Clubs of Wales Glddo$ Glft Macmlllan Cancor Support MHA comff￿nItIa$ Ch6$hlre West Nlghtlngalg House Hosplce Prada-willl Syrbdromq Asaodotlon UK Refurbs Flinlshlre Stlck n Step Tenovus Cancer Carn The Panathlon Foundauon The We15h AlrAmbulanco Chadtabje Trust Whlzz Kld8 5,000 2.000 2.￿0 3,000 2,000 3,000 4,987 2,000 2,0 2,000 4.229 3,lJ)O 2.000 2,156 1.600 2.000 6,000 2.othj 2.000 3,000 3,000 1,824 1,050 2,(h)O 5,1)00 Mombor Gr•nt•: 145,646 Corjnah's Quay Town Foolball Club 1st Aldndge136th Walsall Scout Grovp Swadllncote Netball Club Sutton Trinty Football Club Jlestree Junlors Foolball Club Deo8ide DragMs Foolball Club Etwal Detachmèni De￿y$hiro Army Cadel Force Cllpstone Miners Wellare Community Tntst Derby Excel Swimming Club Burton Rugby Football Club Barton Rovers Jnr Foolball Club 1,987 1,625 1.540 2.000 5,000 1,248 1.580 10- TOYOTA MANUFACTURING UK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR 7HE YEAR ENDED 31 DECEMBER 2024 Grants w4bl• (Contlnuod) Belper Town Jnrn Football Ch8rftyA86ocialion Ch61er RUFC Womens {Davas) & &'rfs Section Derfny Tramblgzers Ba8k8tbo11 Club Eastsvood Communlty Footbal Club CIC AFC Chella3ton Rlplty Ras¢4Js Swimmlng Club Teversal Footbau Club Ltd U138 Wlnsft>rd Town U12 (Vale Football Club) Vale Football Club Melboumo Joggers 24th Burton on Trent (1st Rollgston) Scout Gro Doe￿de Round Tablo 602 Clty of Darby Sea Cadets 181 Woodvllle (St St•Fth•ns) Scout Group Ml¢ro Brew Radlo 6th Tamworth {Amlngton) scouts 2,000 1,830 1.625 1,440 1.432 1.212 1.130 1.075 4.950 6.0 3.361 4.QOO 998 985 57,008 M•mb•r Mal¢h Fundlng: MMF- Decembar 2023 - Dèmentia UK MMF- Decembor 2023 - VHL UKllreland MMF- Deurnbor 2023 - Nlghtlngal• Macmlllan Unlt MMF- Dec8mber 2023 - Chlldhood Tumour Trust MMF- Decemb8r 2023- Macff4llan Cancer Support MMF- June 2024 - CRUK MMF- June 2024- YMCA D*byshlro MMF - June 2024- Prost8te Cancer UK MMF- June 2024- Proslate Can￿r UK MMF- June 2024 - Cancer Resoarch UK MMF- June 2024- The Nallonal Deaf Chlldren'g Soclety MMF- June 2024 - FlghtlTrg lo be Heard MMF- Junè 2024- MIND UK MMF- Sept 2024 - CRUK MMF- Sept 2024- Royal Brltlsh Legion MMF- Sept 2024 - ma￿￿0118￿ ¢on¢er Support MMF- Sèpt 2024 - Prosl8tè Caneer UK MMF- Sept 2024 - ANDYSMANCLUB 148 600 345 226 618 1.0 1,000 850 300 282 1,000 700 1,000 11,693 214,347 11 TOYOTA MANUFACTURING UK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Gov•manc• coBts 2024 2023 Independent 8xamln8tlon f8 Accountancy 1,600 1,881 1,500 1,208 Not mov•mont In fund8 2024 2023 The net moveThnt In funds Is slated aft?r ch8rglngl(credNkng): Fees payablo for the Ind•pendenl WAarrfnallon of the charlvg flnanclal ltalemenls Depreclatlon of ownod tanglble flxed a88et8 1,500 5.080 9,641 Tru•t• Nc￿0 of the truste08 (or any perBons COM8cled with them) rgcelved any ￿mUn•1&110n, benefits or relmburnement of expendliurg from Ihe tNst durfn9 the year. 10 Employ• Ther6 wer9 Th) gmploye68 durlng elther the ¢urront or pAor year. 11 Taxallon The charlty Is exempt from tsxatlon on Its athltles because all Its Income18 applled ch8rftablo purposes. 12 Tanglbl• flx•d Flxlurm •nd Ilttlno• Motor v•hlc T•)t•l Al 1 January 2024 24,984 23,222 48.206 At 31 December 2024 24.984 23.222 48,206 Depreclatlon and Impalrni•nt At 1 January 2024 Depreclatlcn charged In the yoar 416 4.997 18.578 18,994 9,641 At 31 December 2024 5.413 23.222 28,635 Carrylng amount Al 31 December 2024 19,671 19.571 At 31 Decernbor 2023 24,568 4,645 29,213 12- TOYOTA MANUFACTURING UK CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 Dabtor• 2024 2023 Amounts lalllng duè wlthln ono Y￿r. Other debtors 53,400 1,274 14 Cr•dllor•'. amounts falllng duo whhln ono year 2024 2023 Traile credltors Accru8lB and def•rred Income 35.400 4.609 4.164 23.138 40,009 27,302 10 Unr•¥tricl•d funds Th6 unrostrlcted funds of the tharfty comprtse the unexpanded balancej of donatlon8 and grants whlch are nol subject to 6pedlk condltlons by dor￿r9 8fKI orantors as lo how they rnoy be used. These IncI￿le desvnatèd lunds whlGh havo been set aside out of ￿r&StrIdId lund$ by the Ini$t••s fty spo¢iflc pu￿088$. Al l January 2024 Ine•mlng R••ourc r•gour¢•s •xp•nd•d At31 D•¢•mb•r 2024 General fiJn(h 25.084 449.301 1382,321) 992,064 Prevlous y•ar. Al 1 January 2023 In¢omlng r••ourc•8 At31 •xp•nd•d D•¢•mb•r 2023 Goneral funds 831,482 519.223 (225.601) 925.084 16 R•lat•d party transactlo Th•ra woro no dl$do88bla relat8d party Ir8ns8ctlons durfng the yegr (2023- none). 13- . PROTECTED MfT.*g1&1 Toyota Manufacturlng UK Charitable Trust Toyota Motor Manufacturing (UK) Ltd Burnaston Derbyshire DE19TA Charity Number: 1124678 Rogers Spen￿r Chartered AccountsntS Newslead House Pelham Road Nottingham NG5 1AP Dear Sirs Letter of representation by the Trustees The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in Ihe connection with your independent examination ofthe charity's finanrjal statements for the year ended 31 December 2024. These enquiries have induded inspection of supporting documentation where appropriate and are sufficient lo satisfy ourselves that we can make each of the following representations. All representations are made lo the be51 of our knowledge and belief. General We aCknO￿edge that the work perfomied by you is substsntially less in scope than an audrt perfomied in accordan￿ wilh intemational Standards on Auditing (UK) and that you do not express an audit opinion. We confimi that the charity was entitled lo exemption under section 144 of the Charities Act 2011 the requirefflent to have its financial statements for the finanoal year ended 31 December 2024 audited, We have fulfilled our responsibilities as trustees, as set out in the lemis of your engagement letter under the Charities Ad 2011, for preparing finanryal statements in accordan￿ with applicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounting Practice). for being satisfied that they give a true aTr fair view and for making accurate ￿p￿SentationS lo you. 4. All the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. 5. All the aC￿Unting records have been made available to you for the pU￿ose of your independenl examination. We have provided you with unrestricted access to all appropriate persons within the chaiity and with all other records and related infomalion requested, including minutes ofall management and tnJ5tee meeting5 and corresponder with The Charity Commission. 6. The financial statements are free of material misstatements. including omissions. 7. The effects of uncorrected misstatements are immaterial both individually and in total. Asset and Ilabillties The charity has satisfactory title to all assets and there are no liens or encumbrances on the charity's assets. except for those thal are disdosed as applicable in the notes lo the finanaal statements. All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as appropriate. 10. We have no plans or intentions that may materially alter the caryiro value and. where ￿leVant, the fair value measurements or dassificalion of assets and liabillties reflected in the finanual ststements. . PROTECTED P4IF,*9141 Accountlng estlmates 11. The methods, data and signfficant assumptions used by us in making accounting estimates, and their related disclosures, are approprtale to achieve recognition. measurement and disctosure that is reasonable in the context of the applicable financial reporting framework. Loans and arrangements 12. The charity has not granted any advan￿5 or ¢redils lo, or made gUarant￿S on behalfof, trustees otherthan those disclosed in the financial stalemenls. Legal claims 13. We have disdosed to you all daims in connectton with lib'galion that have been. or are expected to be. received and suth matters. as appropriate. have been property accounted for and disclosed as applicable in the financial statements. Laws and regulations 14. We have disclosed to you all known InStan￿S of non-compliance or suspected non-compliance wf(h laws and regulations whose effects should be considered when preparing the financral statements. Related parties 15. Related paty relationships and transactions have been appropriatety ac¢ounted for and disclosed in the finanual statements. We have disclosed to you all relevant infom)alion concerning such relationships and transactions and are not aware of any other matters whtch require disdosure in order to comply with legislative and accounting stsndards requirements. Subsequent events 16. All evenls subsequent to the date of the fjnanaal slatements which requite adjustment or disdosure have been properly accounted for and disdosed. Golng Goncem 17. We believe that the chaiitls financial statements should be prepared on a going conr£m basis on the ground5 that current and future sour￿5 of fijnding or support will be more than adequate for the charl￿S needs. We have considered a period of ￿e1ve months from the date of approval of the financial statements. We believe that no further disclosures relating lo the company's ability to continue as a going concem need to be made in the financial slatements. Grants and donations 18. All grants. donations and other income. the receipt of whith is subject to specific terms or cnnditions. have been nob'fied to you. There have been no breaches of temis or condrtions in the application of such income. Yours faithfully On behalf of the Board Trustee Dated