Re9islered number. 06776342 Charaty nlwnber. 1127386 INTERNATIONAL BACCALAUREATE FUND (UK) IA COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 *AEWZ3T 3W1r2026 COMPANIES H(YJSE Bishop Fleming INTERNATIONAL BACCALAUREATE FVND IU IA CCAIPANY UMITED BY GUARANTEei COMTENTS Pauè R•l•r*nte and Athilnistialive D•laHs ofthe Company. 113 Tnutea and Advisers Tvust••s' Rtport TNsto•s' R8sponsibifrtiès Slatem•nt Ind•p•ndent Auditorn. Report on th• Financial Stal8Thnts 8-11 Stat•m•nt d Financlal ktiviti¢• 12 Balan¢• Shé•t 13 Statement of Cash Flows 14 Notes to thè FIftand￿ Stateméthts 15-25 INTERNATIONAL BACCALAUREATE FUNO IUIQ IA COMPANY UPAITED BY GUARANTE REFERENCE AND ADAIINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AMD ADVISERS FOR THE YEAR ENDED 30 JUNE 2025 Trust••g Matthew C051elb droa Smth NK¢be ei9n Company rnglsl•r•d n¥mbor I￿77$342 Charity re9iSteYed nujthr 1127386 Reqistered offieè Fusi¢)n Point One DuMb￿ts Road Card CF105BF Inde￿nd*￿t *uthtoYs Bishop Flem￿9 Limited Chartered 10 Norlh Place Chdtenham GL50 4DW so￿lt019 wrther 8ergman LLP 16 Ohj Bailey London EC4M 7EG INTERNATIONAL BACCALAUREATE FUND {UKI {A COMPANY UMITED BY GUARANTEE) TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2025 Th¢ Trusteès present Iheir anrwal ￿￿<￿1 together the rMwn¢ial $tat•ment$ of th& Company for the 1 Juty 2024 to 30 June 2025. The AnThJal Report serves Ihe purposes of a Tntstees. rewt and a thre￿￿$, rey)rt uThJer company law. The Trustees confirrn thal the AnnuJ ReFKWt and fi￿1* statemenls of the thartsble company compty ￿1th the current statutory requirements, the requrements of the cha￿lIe companls goveming do¢yment and the prowsions of Ihe Siatement of Recommended Practice ISORP) applicable to charibes weparing their accounts in aeLordance the Fiftancial Rèportmig Starbjard apF4tsblè in thè UK and Rèpubh"e of Ireland IFRS1021 (effective 1 January 2019). Sin¢¢ th¢ Company qvaffts as sm41 undw 382 of the Companies A¢1 2￿￿, the Str8tes¥¢ Report required of mediurn and large companies under the CWnPan￿ Act 21KkS (Strategic Report and Directors. Reptftl Regulats"ons 2013 has been ornitted. Obhct5v•s and activltl•s •. ￿¢1¢$ and •bi¢¢liv•s The chaity has tharitable obpcts that refleca the charilAble purwBes ofthe IB. These are the advancemevrt ol 9dl￿t￿ by". the development and promotion of programrnes of education for students al Offerent levels within schools Iprirnary, mid¢Je and upper secondary schod le￿1$ or such other levels as may be fele¥ant ovefseasl lor adoption by authorised schods in al countr*s.' the development. admIn￿LIa110n aThJ promotion of an internalKffial examina￿On for authorised schtr)Is giwng access to higher educatK)n in au countries". such other means as the Tn￿leeS oflhe Charity may delermine". and such other exc4usively chari￿le purwse5 as Ihe Tnjstees of tIE Charity may ￿ their absolute dI￿retIOn detennine. lft settmbj objec1￿$ and plannirvj lor a¢lMti"Ès. the Trustee$ have given due ￿￿￿1¢r￿"0n to general 9uidan¢e published by the Charity Cofflmisgrm rdatvy to Wc benefft, iThJwJry gutsjance 'PUbl￿ b8nefrt'. runniru a charity IPB21'. b. Stratsgl•s fora¢hl•vlng obJ•ctl¥•s The Chacty woths wrth go¥emmentS. Wbtemational ph￿anthrOp1caI IKganisatthis, and other donors to davelop parfnerships and irNliabNps to create a rrK)re di%wse a￿1 I￿lUsi￿￿ IB cwmunity. enabts'ng more students lo c. Adivities underta*en to •chieve obie¢li¥es In 2￿24 and 2025. Ch*ity cO￿nut￿ to focus its prngr￿ing its strat￿4¢ goal by th• constsnt Cc￿￿'nUa(ion of existing proje￿ *ilh ihe Japanese 90￿Mment th1o￿h lis Ministry of Education. Culbjre. Spcfts. Science. and Techndogi IMEXD, and thé Dual Language Dylorna Prc4Jramme wlh thè Rtrpubl￿ of Soulh Korea. INTERNATIONAL BACCALAUREATE FUND IUK) IA COMPANY LIMITED BY GUARAPITEE) TRUSTEES. REPORT IC014TINUED) FOR THE YEAR ENDED 30 JUNE 2025 Objectlves and aGli¥ities (C014TWIUEDI d. Grnnt4naking pofKI•s The Fund has e$tsb￿Shed il$ grant Ma￿r￿j to *his¥è its obj.ects for Ihe publi¢ be￿[rt by promoiing programmes of education f¢w students at differ•nt Iwels within s(*cds aulhorised schools in an countriès. We review the grant maknng poly regulaty to ensu￿ Ihal it refiects the thantys objects thereby advan￿$ putrjic benefit. The Fund inth aFrf)hcaiiw tr grants from s¢hrK4s exper*￿Ag temprK8ry financial ¢halknges of schools are demonstrably inueasiThJ to 18 prcgrammes. More in1c￿atIon can be found at •. Main activltles undertak•Tr tr* furtherthe C(Mnpanf¥ pury￿¢S for the publk In adt*ion to Ihe acbMliÈs for Ihè ￿tinUed P*tr￿ty ￿lIh klEXT ihe R•wbI￿ of Stwth Korea. the charity also eontirwed to wowde short-tem ￿ants s¢￿$ experberKyi9 lempxary finanL¥al thakryes or sthools Ihat are demwstrabty ntreasing a￿$ to thè18 wo9rammes. A¢hl•v•mwts and p•rfonnanc• . Rvlew of aetivili•s The key operatiorol *iiities for tr)e ¢&wity tsthe y￿*￿.. Dual Language DirA(xN Programmè.. Ja Translation of Sp￿Men ret&ryshJn ￿ examinat*)n papers for tt* Japw*se subjects the Ntsvem￿r 2024 sèssion Examinèr recwrtment and traThng Translab'on of pfo9ram tl¢y)JmerrtatKM), subject guides and tear*￿ SL4)POrt mat•rHI Tran5tsbon of profes￿onal de¥elq)mènt maienaLs Development work for Examiner fxing pages Regona and global $￿pC￿l frim 18 (fftes Dual Language D¥Lvna Pwramme.. Kc Tr¥nslthon of spettmen rem$￿ ¢)n èxaminat•)n papets for the Japo[￿ subjects the November 2024 session EXam1r￿ reNuitment and training IBEN development acmies Translation of program documentation. siknj.ect gukles ￿ teacher swort mal•ri Translation of profe5s*Jnal dthloprnent matenals Regor)al and global SLwc*lfrom IB ¢fftes b. hrfomHtlon on fvndrnlsin9 prac¢kes The FurKI'$ ￿￿￿•te parertt Com￿ny. Irrtemational Baccala￿e org￿ls8t1On, pur￿$ fuThJraising acal￿tieS on behalf of thè Chaiity. The organisatR)n does rv)I have a fvTrdrai%ing departrnent per se, but has team$ Y4thin its Schoc4s OffKe, whose aim il is to ¢ncrea5e ac(￿5*￿ty to IB programmes. Those teams work wth Governments and other pmanthrwmc organisaliffjs to create ar￿ mana9e proieth to increase the IB footprm M"n Ilw gi*n wristhClK￿. Page 3 INTERNAnoNAL BACCALAUREATE FUND IU (A COMPAIIY LthIITED BY GUAIiAi¥fEE TRUSTEES. REPORT ICOIrnMUEDI FOR THE YEAR ENDED 30 JUNE 202S Achlevem•nts and perf0m￿n¢• ICOPfflNUEDI c. knvesknent pollcy and obleGllves Thè polw vthith the Trustees will apply in relati￿ 10 su￿[￿$ ¢a5h is risk aknprse. in ac[￿rdanCe with Ihe policy adopted by the IB. Deposits are maintained as cash c￿. where Management eansider p)ssible, risk fixed lerm deposits ralher Ihan equities or any olher inNEstments that are subiect to capital flUctua￿0nS. DuriThJ tK)th 2025 and 2024. no interest was eamed c¥) derLKts. Fina￿1￿1 ￿VIeW . Golng conc•rn Aftor mokmig oppr¢)Priate erwuiries. the Trustees h•b* a re•whable exFeCtation that the C¢xnpww has adequate resoU￿e$ lo conlwiu• in 0￿rth"On￿ ￿$t￿nCe the foreseeab￿ futurè. For thi5 reason, Ihey continue to adopt the goirttj ¢Mcern basi5 in prepwing the fi￿¢181 ststements. Further dthls regarding the adoption ol ihe going concefn basis can bè thè ￿lfi￿"n9 poWs. b. R¢ser¥es pollcy The Twstees aim to tsu￿ up aid mayrfain Ihe reser*s in Un￿StrIded fLmds at a level èquates to approxirnately Ihree months of unreslncted tharitable expenditure. The Trustees consider that this provkles sufficient funds to resFKJnd lo grant applut*)ns and imir project sFent1 foi a suff￿￿nt in th8 èvènt of an unexFected deuea5e in income. AJI gwman¢e costs and costs incurred in generating funds are paid for by the IB on behaw of the Chariy, and hence the Trustees *e able to ￿Spond qu￿ to any ehangès in donation irto)mè. The TrustÈes miew the 5itvathon annualty to ensure that the polry adgpted by the TnBtees protect the Charity from any ￿￿1r￿n1 e¥ent that would impaclon its finarK4al posthn. The current level ol ￿n￿Str￿￿ reserlts at 30 June 2025. is USt)508,231 12024". USD430,7461 all ol whth can b¢ defined 4$ fre? reserves. The reserbps have arisen due lo SI￿1fiCanl donations have increased the tharities reserves. The Twstees hab* decided to utlis• tris ov•r a fium￿1 ol Jwrs lo maximts• th• ￿n•fft to the rèciF4ents of Ihe Chaiivs funds. The rèstr￿￿ rtseNÈ at 30 2Q5 lotalltd USD823.251 {2024.. US0954.8591 and c(rfinue to be ulilised in ￿th the restricl*)ns speufied by the donors. Strudurvl 9ovwnJnce and m•nagement Intèmational Baccalaurèate Fund (UK) is a tharitabk wnpany w85 fi￿1 regslered as a private compary l¥nrted by guarantee in the Unrted lQngdom on 18 C*cembef 21￿. and is 9ovemed ty fts Memorandum and Arb"des of Ass￿41t10n dated 18 December 2C¥J8 (that contain an asset lock ts charitable purposes. and a bar on distrit*Jts'on of dmdendsl. The companywas registered as a Charityon the 8 January 2009. Pwje 4 INTERNAlloNAL BACCALAUREATE FUND {UIQ IACOMPANY LthIITEO BY GUARANTEE) TRUSTEES. REPORT ICONnMUED) FOR THE YEAR ENDED 30 JUKE 2025 Struetur•. govèmaneè and management (CONTINUED) b. Mettwds ol appointrnent or •1gth>n ot Tntst••s Under Ihe A￿"￿8$ of Asswation, Ihe Trustees of the charity. Itho act as threctors for the purposes of c*)mpany law, are appointed by the International Baccalaureate Organi5ation nhe IBI. The mininum number of Trustee5 Is three.. there is no maximum. Cuwrent Trustees aTe listed on page 1. In keepi￿ wlh the ekction of Furbd Trustee requirements as found ￿ the Aitth of AssouatKm of ihe IB Fund UK. Trustees a￿ appoinled by the rnembeTS lor a term. not e¥ceedry three years. A retirn9 TrustsÈ may be appointed by the mÈmbèfS with no limfj ¢n the number of timès a Trustee may be re4ppointed. No forn)d wowsion extsts in the Art￿eS ol Associalton for the 18 Fund UK rega￿ling the rotab'on of mernbers. t￿ring the year under rev¢ew, all Tfustees of tho IB Fund UK We￿ al￿ em￿0)ee$ ofthe IB. Ihe current C*ector Gene(al. c. Oryanlsatlonal stru¢twe and decision4naking policies The Tn￿ee5 have delegated thè day-trAlay m*bagem•rbl of oper*"ons to IB emph3￿$ apptiintéd as Fund Managers. To facilitate effective operations. the Fund Managers have delegated aulhority wiihin the term5 of the delegation approved by the Trustees operational matte[5. inGludirg finartce, employment5 and related acbvities. d. Policies •doptrd ft>rthe induction *nd Imining olTrttsl••# On i￿ning. Tn￿teeS are given a d￿rnent 'lntrfyJiKlryy OpwatKml GuKle for the Board of International Baccalaureate Or9anisatyon {UK) Lirnrted., last updaled on the 5 February 2010. In addth"on, Tfusteès are invited to Board inductm￿ adiwtses entit￿S of the IB_ ￿￿-goIng trainirg w￿1 then be prowded in consultation wth each Tnjslee. The Board will review Ihe status Of Trustees on an woiro ba&s thèy wil rèeommend thè rotation of Tnjstees as the Board sees fft based on Ihe Board assessment of the orgarisalion charvJes. None of the Trustees recewed any remYrWati￿ ￿ other benefts from the Charity. The DcrfHti￿s P0￿cY of the IB govwns the xceptan¢e of 4 9ft5 thai are ro¢*i*d by 18 Fund VK. All grfts are furthtr reported to the Trust•*s by managemenL The abovtrment￿ned governan￿ Pro￿$$eS ensure that the actiwiies undertaken by the Charity comrly the purposes of the Charity aTrJ rneet fth¢iary and Slalutory requirements in the UK D￿￿.0￿ deosK¥ts are madè by the staff of IB, and ar• r•wJrted to Ihè Trust￿ during the board meeb"rKJs e. Risk man•gemenl ¥nd Internal Conlvol The Tfusteès eonfimi that. on a ￿lY basis. major risks to whK* the charty 15 exposed, a5 hlentsffied by the Twustees. are aThJ Ihat 5y5terns have been eStsbl￿hed lo manage Ihose iisk5. This has been dono in cg)nsult8tiw with Ihe IB. th¢ adiwbes, an operation of the Chaiity induded as part of a comprehensNe flsk framework adfwed by the18. Id¢nb"fied potential risks irdjde the nOr￿CoM￿￿nce *iih kgal & laxat￿ reqWern￿ts. foreign exchange exposwe, individual fund balances in deftrit. IT s)stern falure5. Intemal controls *e deS￿ned to provide reasonable. bui ￿t abSOl￿e. in5UTw¢e •J•nsl material. misstatement ty loss and irf4LKJe'. Cwsidèralion by trustees of ffinancAal results. and Vari￿0 from bud The delegation of aUth￿lty and segregat*￿ of dulles Tfansf•rring lor an exchange risks lo IBO," and, Monrtoring of all fuTrJ bala P•5* 5 INTERNATIONAL BACCALAUREATE FUND {UK) IA COMPANY UPAITED BY GUARANTEEI TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 30 JUNE 202S Plans for fulur• p•riods Current are for the contiwati￿ ofthe existing wryects for. Dual Language Programme.. J Training for IB educators PrfrAFC assislartt to sdM>G4s (DP consuftanlsl lo supporl the'oTrboarthng' prc¢e55 Orienlation seminws lo new and potenital DP schcds in Japan ComF4etK)n of translat￿n of pfogram dLxumentation. subjecl guides. and teacher supwt material ComF4etion of tranSlat￿n of prolessonal devdowent matenals ComF4etion of tranSlat￿)n of asse55menl recruitrnenl rnaterH Dual LaThJuage Dipk¥na Piogramme.. K(¥ea Tr￿n7r0 for IB •￿tatOrS PreAFC a55islance to 5th001s IDP ￿nsU￿nIs) to 5UPPOrt the'owbboar¢ing' pr¢xess Orienlation seminars to new and potenbal DP Sch￿[$ in K(wea ComF4etion oftranslatKJn of wogram dc¥)Jmentati¢J). subjecl guides. aThJ te&her supwt malerial CoM￿etItin oftranslath?n of wofessitinal de¥dopy￿1 materi C¢ntinu¢d IBEN devebpment ¥ctMbes Small companS•s Not• In k¥eparing tris reprt the Oirectors have laken •J¥an* of the small COMpan￿S exemptMs provided by seclion 41 SA of the C(xnpanies Act 2c￿. Diselosurn of infomulion to auditors Each ofthe perso￿ we Twslees at the lime whw Truslep5' Repryl is approved has etsnfirm￿ that $0 lar as thal Trusteo is aware. Ihwe 1$ no relewt audit infrmmation ol v*thith the tharws auditors are unawa￿, and that T￿￿tee has tsken Ihe sleps that OLb3ht to have been tsken a5 a Truslee in ortsr to h aware ot any relevart audit infonnation and to establish Ihat the charitys audil¢Ys are aware of that informalion. Audltor The auditors, &shop Fleming Limited. have ind￿ted their vthrKJness to contyiue in Off￿e. The desigrAled Tru¥lees VAI propw a mokn reappoirW"rtsJ the audrtors at a rne¢ts"ng of the Twslees. Approved by order of the membws ofthe board of Twstees arnl signed on their t*ha￿ by. Andrea Smilh Dale: 13 Jwwary 2026 P•ge 6 INTERNATIONAL BACCALAUREATE FUND (UK) IACOMPANY LIMThED BY GUARAJITE STATEMENT OF TRUSTEES. RESPONSIBIUTIES FOR THE YEAR ENDED 30 JUNE 2025 The Trustees Iwho are also the threctors of Ihe Company for I￿ purp05e5 Of Cibmpany lawl are responsible lor preparing the Trustees, Rewt and Ihe fmancial statements •) accordance wth apph"cable law and Unrtad K*wJdom Act￿￿ting Sl¥Mlards I￿11ed 1fjngth￿n Gewaty Accepted Ac0>￿thng Practice). Company kiw requires Ihe Trustee5 to prepare ffinanciaf ststèmtnts for èach finanetal . Under Company law, the Twslees musl not approve thè financial ststements Un￿$$ they a￿ satisfied thal they &¥ve a true and fair view of the state of affaTrs ol the c￿panY and of its incryning resource5 and apptviion of resources, including it5 inc4me and expenditure. fortr￿1 perts>J. In prwing these financial stalemerts. the Trustees are required to.. Select suitable accountirw Fol¢ie5 and then apFty them consistenty," obseThe the methods and ￿￿pIeS of the Charthes SORP {FRS 102).. make ivdgments and acc￿nti￿3 estimales that a￿ ￿aSOna￿le and pnKlent.' stat• whèth•r appl￿ble UK Ac¢ounb"ng Standards IFRS 102) have been followed, subject lo any material deportures disc40sed and exp4aiMd in the financial statements.. prepare the financial ststements ￿ Ihe 9try eortem basis urA•ss rt is inappr￿ to Fxesum• that th• Companywill in ￿sineSs. Thg Trust8•5 are reswsiNè for k8ewng adequate ￿COun1￿ recwds that are s￿￿errt lo shtyw and explain the Companls transactions and disdose wrth reasonab￿ ar￿[acY at any time the fmancial posthon ol the Crynpany and enable them to ensurè that thè financial statemerts cc4npty vith the Compatwes Act 2006. They are also responsible for safeguarding the assets rf the Company and hence for iaking feasonable step5 for the prevention ¥nd detec1￿ tsffraud WKI othtr irregulanbes. Page 7 INTERNATIONAL BACCALAUREATE FUND (UK) IA COMPANY UMITED BY GUARANTEEI INDEPENDENT AiIDifoRS' REPORT TO THE MEMBERS OF INTER14ATtONAL BACCALAUREATE FUND IUKI OPINION We have au¢Jrted the financAI statements ol 1ntemats.onal BaCC*U￿ale Fund IVIQ lthe'charrtable company) for the year ended 30 June 2025 whth comprise the Stalèment ¢*f Financial Actiwbes. the BalarKe Sheet. the Statement of Cash Flows and the related notes. induding a summary of signfficant accounkn.ng poltrps. The finanryal reporting framework that has applied in their preparatK>n is applKable law and United Kingdom Atcounts"ng Standards, irKWing Fwwncaal RekX)rting Standard 102 The Finanoal Rep￿ting Stsndard applicable in the UK and Republ￿ of (Unrted Gènetslty knepted Acwjnbng Praclicel. In ouropn#>n the financial Statements: gi￿ a Irue arKI fair ol Ihe Stale of the Charitab￿ c4mpanYs affaws as at 30 Jun• 2025 and ot its I￿￿mIng resource5 and appl￿1￿￿ of resources. induding its and expendilurtt ftsr the year then ended.. have beon property wepared in ae¢ordarKe ¥&*h Urmted Generaly Accepted Accounling Praclice," and havè been wepared irb ￿*T￿ar￿e wih the reqL¥rements of the chariti.es Act 2011. BASIS FOR OPIMION W¢ Conducted our authl in ac0)rda￿* InlernalKffial Standards on AuditiNJ (UK) USAS {UKJ) and applicable law. Our fesponsibi&ties under those standards are further described in the Audrtors. responsibilities for the audrt ol the fI￿n(la1 statements Secti￿ of our report. We are independent of thè eharrtable trjrnpany in aKordance with the ethical req￿TementS Ihat arè r*￿Vant to our a￿JIt ol the financk4 stalements in the United lfj"ngdom, induding the Finawal RepwDng Counrifs Ethical Standard. arvj we have fulffilled Qui s)ther elhical reSponsi￿litieS in accordance Tmth these requirernerrts. We believe that the au¢Jt evidence we have obtained ss suffirient and wproprple to wo¥¥Je a basis for cfJll)ion. CONCLUSIONS RELATING TO GOIMG CONCERM In audrfwig Ihè finanoal statements, we have conchA￿ thal Ihe Trustees. use of the going Co￿rn basis of ¥￿ntIng ￿ the preparatw of the finaNyal statements is approwiatè. Based on the work we have perfomied, we havè [￿1 idenlified any material uncertainties ￿￿tIng to events or 0ndib￿S Ihal. ini*¥iduaty or coNedNely, may cast signfficant doubt on the dwwilabk c¥)mpanls abilty to contirwje as a goiro con¢em fty 8 p?￿d of al Jeast M￿th$ from t•*tten the finantsal statèmènts arè aLthori5ed fw issue. Our resF4)nsibilities and th8 respwstsThies of ts TnKstees wilh re5pe(a to (x)r￿rn afe described in thè relevant secb'¢)ns of IIMS re￿1. OTHER INFORMATIOII The other informalion comprises the informatKM kKkn1ed in thè Annual RèFOrt otrber than the finanraal statements and our Au(rrtL¥S' Report thereon. The Trustees are responsible for the other infomialion CLYrtained wrfhin the Annu￿ Rem)rt. Our ¢Jpinh)n on the finar￿￿1 $tstements does not ts)¥er the other infonnation ￿d. except to the extent otherw*i$e expl￿4￿ staled in our rewt. we do Th)1 express any form of assuranee conclusion thereon. Our responsitslty is to read the othèr information and, ￿ doing 59. consider whether the other informab.on is materialty Mw￿1￿tent wth the finanaal statements ￿ tyjr knthvtedge obtained in the ¢tsurse of the audiL or olherwse appears to be matenaly rnisslated. Ir we bJentify SLth rnaterial irtrconsislencies or apparent m8ttnal misslatements. we are rewired to detemiine v•hether thi5 gives risé to a materiaf misstalemenl in the financi￿ statements thernse￿es. 11. based M the woth we have perfomed. we ojndude Ihat there is a material mi$stalement of Ihi5 othw wrfc¥matAJ). we ¥e rewired lo rep(yt th* f W• have noiling to rep)rt in thi$ regard. Page 8 INTERNAnoNAL BACCALAUREATE FUNO {UK) IA COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF INTERNATIONAL BACCALAUREATE FUND IUK} ICONTINUEDI MAThERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTKIN We have nothing lo report in respect of the folkiwing matter5 vA*rè the chan.lies IAetsJunts and Reports) Regulations 2fM requires us to repryl to you rf, in 0[Mn￿￿". the inknmabon gven in the Tnths. Repyt is itonsistent in any Mat￿la1 respect *ith the financial stalements.. or sulf￿ant accc*Jnb"ng r8ccYds been kept.. or thè fmantsal statÈments arè noi N) agfesm•nt wth the accounling records and relum5: or we have nol fecei¥ed all the inf￿latiOn arKI eWanab"¢)ns wè require for our audit. the ￿"fectorS were entstted Io Fwepare the finanryal statements in actaydaneè lh• small eompaniès regime and take advantage Lrf the smal cornparoes. exwnpt*)ns in weparww the Directors. Rwrt artd from thè requirèmtnt to prepare a Strategic Rewt. RESPONSIBIUTIES OF TRUSTEES As explained more luny in the Tru5tee5' Responsibilities Statement. the Trustees {who are also the diredors of the charitat4e company for the of company lawl are iéspJnsA)lÈ for tht preparalbon of thè fmanaal slalements and being satisfied Ihat thèy gNe a true and far view. and for such internal CAJnirol as the Trustees deiemiine is nec*ssary to enable the preparatw of 51atemèAts that ar• freè from mat•n"al rnisstatèmènt. ￿thÈther due to fr￿d or errLY. In preparing the financial statemerts. the Trustees are respJnsiblè assessing the ehaiitable tsjmpanls atihty to continue 85 0 wing ¢¢￿tem, dIsdo￿n9. as appficatle, matters related to goirvj concern and using Ihe going o)nceTn basis ol accounliry Lmless the Trustee5 erfher intend to liquidatè Ihe charitablt company or to cease optratiorts. or havè rK> realis￿ altemats* to th) so. INTERNATIONAL BACCALAUREATE FUND IUIQ IA COMPANY LIMtrED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF INTERNATIONAL BACCALAUREATE FUND IUM (CONTINUED} AUDITORS RESPONSIBILITES FOR TTrE AUIXT OF THE FIIIANCIAL STATEMENTS We have been appointed as auditry under $edion 144 of the Charrties Acl 2011 and reF*>l in actsydanc& ￿1h Ihe Act and relevant regulatKJns rnade OT having eflect thereunder. Our 0*￿tNeS are lo olAain rea￿at￿e asswm *out T*knether the finwual $tatements as a Who￿ frne from material misstatement, whether to fraLwJ or error, ar#1 to issue an Auditors, Report that includes our opinion. Reasonawe assurance 1$ a high level of assurance. bui ￿ not a guarantee that an audit conductèd in accordancè with ISAS (UK) wll aw t1et*ct a malerial misstat•menl w￿n it exists. Misstalements can arise from fraud or error and are c¥)nSKlered material rf. indmdualty or in the aggre9ate, Ihey c4uld reasonably be èxpaet+d to infiueru the eCL￿OrnI¢ deusions of usets taken on Ihe basis of ihese financial statements. Irregularitres. indud¥tg fraud. we ￿stanceS of wilh lJws and regulatyon5. We de5iw procedures in line with our respon51bilth'es, ouUin•d above, lo deted matenal misstatemtnts in f•sped ol irregulariti•s, induding fraud. The extent to wl¥th our w¢xedure5 are caPa￿e of detectwig irregulanties. InC￿Jd1n9 fraud is detaifed bel(pK. We have c4JnsKl•r•d the natu￿ of the sec*y. c4Jntrd en¥irorfflent. and financsal perfwnance: W• have consh18r•d the rèsuhs of enquwies wth management and trustees in reL*"on to their (vm identificat*)n assessment ofthe risk of irregulant*s wilhin the enty. and We have rèviewed thè (hJrJJrnentstitin of kèy wttèsses and controls p•rf¢med walkU)rougPs of transaclions to confirm that Ihe sJEtems are operath"wwJ in line Oxumèntation. As a resuli of these procedufes. we ha* considered Ihe opportuniti.es and wKentives that may exist wth41 the organisation for fraud and idenlif*d the hifvst area of risk to be in relalw to revenue re￿9r￿tr￿. with a pathtsjlar risk in relab.on to year-end cut off. In common wth all audrts under ISAS {UK) we *e also required to perform speufic pro&8dures lo reSp￿d to Ihe ti5k of rnanagement override. We have *so obtsined understsnding ol the *gal aThJ re9￿atOry frameths that the Chwty operales in, fLtusing on provi5K)n5 of those laws regulats.ons Ihat hai1 a diiect effect on the delermination of material arnounts and disclosures in the finarKial ststements. The key kws and reg￿tiOnS we considered in this fA)nlexl included the charib.es Act 2011. Chanty SORP 2019. FRS 102 and the tems ant1 condits.ons attaching to material grants received by ￿ Charity. In addilion. we considered the prw5ions of olher I￿$ and re9ulations that do not have a dired Èffect on the ffinarwial ststements but cemp￿a[1¢t wth may be fundamental to the Charitys ability lo ijperate or avoid a rnaterd p•. These ind￿d data proiection rewlabons, healh and salety régulat*Jns and empl¢4Thent legislat￿n. Our proceduias to rèsFthid to risks ￿an1￿*d ind￿Jad Iho foknw￿. Reviewir¥J financial statement dL￿SU[e5 arml testng to SUPF#JtirKJ th)CLmènlats"on to assess complrdnce with PrO￿$10n5 of relewl laws aTrJ te￿ dewibed as ha¥ing a dire¢t effed on thg finanrial statements.. Perfomiirvj ana￿￿al w¢Jcedures to Klenbfy unusual or u￿Xpeded relationshw that may indicate risks of material misststement due to fraud- RwewiNJ board meetmg minutes" Enquiring of managernent in rel*ion to athial and p)tentil daims or ltigations.. Performing detaled transa￿￿al lesting in relaticn to the rewnWI of revenLP, sPe￿¢al￿ grarhls, wth H paiburfar focu5 around off: and In addresslig the risk crf fraud through management overrth of controls, tesb.ng tha appropriateness of joumal entries and other adjustrnents.. assessry vthelher the I￿JgMentS made n a¢c4Junting estirnates are indJcatNe of potential bias," and evalualirvj th¢ bjsiness ralionole of 5•3nifKanl ts¥ftsadths thal We ￿USual Or outside the normal cowse of busness. We z4s0 ￿MMunIcated Kleniifod laws and reQ￿a￿on$ arKI kwtential fraud risks to al members ol Ihe engagernent fram and remwned alert lo p)ssth indtstors of fraud or non-comilrance th law5 and Ulat￿n$ throiwiutlhe a￿j P4e 10 INTERNATK)NAL BACCALAUREATE FUND (UK) IA COIAPANY LIMITED BY GUARANTEE) INOEPENDENT AUDITORS. REPORT TO THE MEMBERS OF INTERNATIOMAL BACCALAUREATE FUND (UK) {CONTINUEDI Becw$e ol th¢ Niherent limitatKmS of an awjit. there is a risk that we wil Thjt detect all irrewlanli8s, indudirKJ those le>aing to a material mB5tatement in the financial ststements N non-CIM)￿SanCe with reg¢Jlation. Thi5 rtsk increases the more Ihai eomp4kancè with a or regulation is removed from the events and Iran$a¢tior refiected in the finanaal stalements. as we wil be tikely to bec￿ne aware of inStsn￿$ of non-compliatKe. The risk is aso greater regarding irregularit*s ocojrmg due to fraud rather than error. as fraud invol￿5 intentional c¢rwknenL fc¢g8ry. colluston. omkwn or fflisrepresentthn. A further descriptron of cwjr ￿$p￿sitI￿es ts Ihe audit of the financtal ststements is located on the Financial RepJrtir#J counc￿.$ Websi￿ at" .uklauditors onsib￿l￿e5. Ths descriplion forms part of our Audrtors, ReporL USE OF OUR REPORT This report Is made solety to Ihe chaiilable compan1$ trust￿, as a body, wi accordance v￿h Part 4 of the Charib'es (Accovnts and Reports} RegU￿b"OnS 2008. OUT audit woth has been Lmdertaken so that we might slate to the ehafrtabk companrfs tnjstees Ihose matters we are requirèd to statè to them in an Auditors, Rep¢Jrt and for no other purpose. To the fvlle5t exlerbt pemirtted by L3w. we ¢*) not accept or assume responsibility to anyone othef than the tharitable company aThJ ts memt>er5. a5 a tvjy. for our autht work. for this re￿rt. or lor the opin¢ons we have formed. Dovid Bullor FCA DChA Bishop Fleming Audit Limited Chartered ACC￿tants Statutory Auditors 10 North Place Cheltenham GL504DW Oate'.28 January 2026 Bithop Flerning kn"mit•d are elwJit4e to act as auditors ￿ tenns of 8e IA COMPANY LNITED BY GUARAN￿E1 STATEMENT OF FINANCIAL ACTIVITIES IIIICORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 30 JUNE 2025 Totsl fundi 2025 USD nds 2025 USD fundg 2025 USD funds 2024 USD Notr Incom• frnm: charitab￿ a¢bV￿eS 1.19&506 1.195,506 1,922,032 Totsl Ineom• 1.195.506 1.194506 1,922.032 Expenditure on: Ch*itable a¢th¥￿e$ 1.327.114 19.72$ 1.346.839 2.286.788 Total expenthiwe 1.327.114 19.725 1.346.839 2,286,786 Net movement in funds tsefo￿ other ¢ogrtised gaIn￿{lO$s•s) 119.7251 1151.334 {364.7541 Other ￿COgnISed gainW(10sso$1: ExcharvJ• gainllloss) 97211J 97.210 1.74$ Net movement In I￿)d5 1131.6D81 .485 154.123) 1363,0091 R•¢onclllation of funds: T¢Jtal funds tKought for￿rd Net movement in funds 954.859 1131.6081 430.746 TT.485 1.385.605 154.123} 1.748.614 1363,0091 Total funds carrfed for¥vard 823.2S1 SO8.231 1.331.482 1,385,605 Statem￿1 of Acb¥fties gains ￿d k)sses rec¢yJrMsed in the year. The notes ￿ pages 15 to 25 fom part oflhese finano.al statements. Pa9e 12 INTERNAT1014AL BACCALAUREATE FUND IUKI IA COMPANY LIMITED BY GUARANTEP REGISTERED NUMBER:06776342 BALANce SHEET AS AT 30 JUNE 2025 2025 2024 USD ¢urr•nt a$￿ts Cash at bank and in haThJ 4.103.600 3,966.493 4.103.608 3.966.493 Current Ilabuldes cr￿itOrs.. faling duè wilhin {43S.348) (657.0391 Net current a¥s•ts 3.668.260 3.309,454 Tolal ass•ts l•ss ¢un•nt f￿biliti•$ 3.668.260 3,309,454 Cfeditors.. #mounts falkng due after mtre Ihan (2.336.778) 11.923.849) Total net assets 1.331.482 1,385,El)5 Charlty lunds Restricted funds Urwestricted funds 10 10 823.251 501.231 954.859 430,746 Total funds 1.331A12 1,385,￿5 Èntstywas •rtrt18d to èxemp￿"1￿ from audit under seclm 477 olthe compan￿ Ad 20C6. M￿berS have Mt required th8 •rthty to ¢)blain an aLvJit kn Ihe year in quest*Jn in xLordance section 476 of the CoMpar￿e$ Acl 201%. How•bw. ￿ autht is reqwred in accordarKe with se(aion 144 olthe Chwbes Act 2011. The Tnjstees ackno￿edge Iheir responsiblths for comFlying Ihe requi￿rnents of the Acl wilh resped to accounting rewds and Wepara1>￿ offfinanrA ststemèrrts. The financial statements I￿Ve been pryed in accrydm Iho w¢Msi¢)ns 4)F4¢at4tr to entib.es $y￿.¢¢t to the smaN ccmpoftiès wime. The financial staiwnents were ¥pwoved •¥J •ullby*¢d tr Is$￿ byth& Twstse$ and swJn8d on thotr behalf by. Andrea Smilh Trustee Dal¢.' 13 January 2026 The notes ¢M pagès 15 to 25 fom) part ofthese [￿￿￿al slaternerts. P*J•13 IMTERNATIONAL BACCALAUREATE FUND IUKI {A COMPANY UMITEO BY GUAPANTEEI STATEIIIENT OF CASH FLOWS FOR THE YEAR ENDEO 30 JUNE 202S 202S USD 2024 USD Cash flows Irlxn opernling a¢livilies Net cash prov￿{used) in opwth"n9 39.905 {929.5391 Cash Ilows investing activit￿$ UNealsed exchange gain 97210 1,74S N*1 cash prnvlded by Inveslln9 a¢tlv 9721P 1.746 Cash flows from finan¢in9 a¢tivities Net¢ash pmvlded by Ilnanclng actlvlllos Change In eash and eash equfvaleftts In the ￿31 Cash and cash equivalents at the be￿nnIng ofthe yEar 137,11S {527.7941 4,894.287 3.966,493 Cash and cash equl¥alÈnts atthe tnd of the ytar 4.103.60B 3.966,493 The notes on pages 15 to 25 fwm part d these fmani>* slatemerts Page 14 INTERNATIONAL BACCALAUREATE FUND {UK) IA COMPAIIY LI￿￿ED BY GUARANTEQ NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EMDEO 30 JUNE 2025 GENERAL INFORMATION Intemabonal B￿14￿¢* Furtd (UK) is a ￿te cOfflp￿y Imrted by guwantee regthred in England and Wales, wnpany number 6776342 aThJ a registered Charty. ¢harty number 1127386. Its registered offi¢e Ls Fusion Point One. DUm￿Ls Road. Cardiff. CF10 5eF. ACCOUMTING POLICIES 11 BASIS OF PREPARATIOM OF FIMANCIAL STATEMENTS The fin8ni>al statement$ been prepw•J in a¢cL¥d￿ce Vlilh the ch￿tieS SORP IFRS 1021- AccountiThJ and Repts￿"ng by Charties." Statemenl of RecAJmmended Practice ap￿1¢￿tle lo tharit￿5 preparing th￿r *counts in xcordan¢e with the Fina￿la1 ReportwYJ Standard apPI￿able n ihe UK aThY Republr of Irelaf¥J IFRS 102) {eff•cti¥e 1 January 20191. the Financial Reportin9 Standard opplicable in the UK and of Irdand (FRS 102) and Comp￿leS Act 2006. Intemalitinal Baecalaureate Fund {UlQ meets the defini1m￿ of a publK benefit entity under FRS 102. Assels and liabilit￿ are inibalty re￿g￿Sed at histor￿1 cost or transacaion value unless otherwise Staled in the relevant attL￿n￿.￿j pthy. The pres￿l3t￿)n￿ cuwreney of thè fbnancAI statements is USD whith is the fvnctional C￿rr*￿ ofthe chanty. The fina￿￿1 slatements are rounded lo tt* nearest dolar. The finarKial ￿f0MatIOn relales lo the year en¢Jed 30 Jun* 2025 8nd the comparative information relates to the yw ended 30 Jun¢ 2024. 22 GOIIIG CONCERN The finartial statèments are prepared tjn a wing concem basis. on the expectat￿n ol eontinued grty•Ah in tharity donath'ons n Ihè futur• which ￿ad to the Trustees to con3tiler that thore are no rnthal uncertan**s enttys abltyto cont¥iuB. 13 INC(WE All income ￿ recogni5ed orte the chanty has ent￿ernent to the in￿)rne. it is prc*abfe Ihat the In¢cffie v4iU be receNed aThJ the *nc4Jnt of ￿rne receNatAe ￿ be measured reliabty. Whwe thÈre is a ct•ai iThJicabon that a dcnall￿ has been provKled on ￿ basis of luture ath"wkn"&s b*ng carried out. the charity has recc*Jnised in¢ome on an accrua15 basis. The donation wll first be recorded as a Iwbilty on baance sheet and sut6equenty released to Inc￿1n9 resow¢es in line ih COM￿•t￿)n of a9regJ acb"wties. Donated serbryces ¥è rewnised as bcth wKome and exp￿th ￿ the year to whth Ih¥y relate. Thè balancè falates to the audit and aL¥aunts preparation lee bgmg donated by the IB. 2A EXPENDITURE Expenditure is fec4Jgr4sed once there a Itgal or cJ)nstrueti4e obh'gat*)n to transfer economic benefit to a ttyrd party. il is probat4è that a transfer of eCOn￿n￿ benefits be requirefl in settlement and th? arnol￿1 of ￿ ¢>blNJalion can ￿ measured Ie￿bty. ExperKlrture 1$ dassthed by actr¥ity. The costs ol each activty are made up of the Idal of g)sts and shared costs, inchJdiThJ support cos15 irwofved ￿ undertakin9 eac* adi￿ty. D*ed costs attnbutable to a sngle xtivty are allocated Iliredly lo that activty. Shared which contribute to more than or* actiwty and 5upporl costs vknich arè not attrtht8b￿ to a single aclmty are apprxtioned be* those a¢tiwt* on a basis consistent wilh the us8 ol resources. Central staff cos15 are alkxated M Ihe basis of tiffle spent. and depreciation charges allocated ￿ the of th• ass•f$ use. Page 15 INTERNATIONAL BACCALAUREATE FUIIO {UK) IA COIIPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 ACCOUMT*IG POUCIES leofitlnuedl 14 EXPENDITURE ICOIrnNUEDI Expenditvre on charitable acti￿￿e$ 15 ￿￿[Ted on rfiredly undertakir¥J Ihe aCtibIt￿ which further the Companls objeclives. as wel as assoriate¢J support costs. Govemance costs a￿ those incurred in corfftthn t•hth administratbjn of the Charity and cornpliance wilh eonstitutthal and $tstul¢)ry rwuirements. The charty makes grarts to sthods at the discretion of an IB Grant selec￿on Commrtt•&. Grants payable are charged in the yeaf ￿re the offer is rnade ex￿P1 in Ihose cases vthere the offer is Inditsonal. such grants beirg re¢ognised as expendrture Whe￿ the conditions attaching are fuffiThed. Grants offered subj.ect to cond￿"￿$ ha¥e been met at the year eTrJ are noted as a omrnitmenL but not acuued a5 expendilure. 2.5 TAXATION The Cc¥npany 15 consAlered to pass the tests stt out Mi p￿r￿ 1 sthe￿￿ 6 of the Finance Act 2010 and therèlore it mèets the definiDon of a tharitable company for UK corporatw)n tax purposes. Accfjrding￿, the Company is ￿ett￿alty exernpt from tsxa¢￿n in respect of incorne or capiial gains rècewed withtn ￿tegone5 CO￿red by Chapler 3 Part 11 of the CorporatKin Tax Act 2010 of Section 256 of ihe Taxation ol Chafgeable G*s Act 1992. to Ihe ex1enl that such irKome w gains are apF4ied éxdustth to charitable purposes. 2.6 CASH AT BAIIK AND IN HAND Cash #t b•)k and in h#rKI irthdes ¢a5h and sl¥xVtenn l¥gNy inlpstrnents wlth A short matuiity of three months or less from the date of acwisdbjn or opening olthe deposit ￿ simdar account. 17 LIABILMES AND PROVISIONS Liakn"1￿.es ar• recognis8d t*then thèr• is an O￿lyat￿ •t the BalarKe Sheel date as a result of a past event. it is probats￿ thal a transfer of e¢￿Orn￿ benefft b8 f•quired in $￿IleMent. and Ihe amounl of the selllement can be eslimated reliabty. Liabl￿"t$ arè réc(NJnis•d at IhÈ that Ihe Cornpany ￿t￿paleS it wll pay to settle the debt or the arnourt it has recei¥Ed as th￿ed payTnerts for the gwds or ser¥ic*$ prtsvidè. Provisions are measured at the best estimate of the amounts rtquwèd to setue Ihe oblv8ti1￿. le F114ANCIAL INSTRUMENTS The Company ordy has fiftanti￿ assèts arld SabiS1ies of a kYKI that qualfy as baslc financial instrumènts. Basic financial inslwments a￿ initialtry recognised at transacb.on valu2 and Subsequently measured at their setuèment with excewion of bank loans whth a￿ subsequently rneasured at arn¢xtised cost us¥vJ Ihe eff•ctr¥e irtetest rnellKxJ. 2.9 FUND AccouimMG Restricted funds we funds wfN"ch are to be used tn a¢xordance with specific restri￿lon$ imposed by dortors or whth have been rwsed by the Company for partKJJJar purposes. The ¢osts of rai$iny and administering such lunds are tharged againsl the specAfic fund. The aim and use of each restricted fvnd is set out in Ihe lo the Slatemenls. p￿16 INTERNATIONAL BACCALAUREATE FUND IUKI (A COMPANY LthIITED BY GUARANTEE) NOTes TO THE FINA14CIAL STATEMEMTS FOR THE YEAR ENDED 30 JUNE 202S CRITICAL AccouimNG ESnMATES AND AREAS OF JUDGMENT Estimates and judwent ore ¢ontinualty evaluated and are based on l¥storThl experience and other fa¢lors, nduding •xpects1i￿S of futu￿ events that are belbv4ed to be réasonat4e undet the •eeOLmting esl•Males and assumpthons.. The Ccrfnpany makes estimates and assumptI￿S cOnce￿rg the fvlure. The resulting actounling •stA7)ates and assurnptKms wl. by defirmbon. sehSJm equal Iht r•lated actual resth. The estimates and ¥55UmPtions Ihat have a sgnif￿nI rtsk of causirvJ a maierid adjuslment to the carr￿￿j amwnls of •ss¢ts and liabd>bes vAthin the nexl fmarKial year a￿ di%ussed bebw. Critlcal area ofludgmenL" A kèy ar•a ol I￿1gment in these fnanual stalements i8 Ihe re¢¥niht)n of income, vthich reqthres Idgemenls to be made regardiThJ whelher or not tlwe arè pèrf0M￿nce c4ndrfions induded wlhin the syants b￿n9 recetved. This then detem)ines whether 15 re￿n￿d upfrtrfrt when fec*ved or whether bt is delerTed and released when the Fertornanee ¢￿d￿lOn9 are met. There is also eS￿rnation LvKertainty regardirvj thè relAblty of the estimate of the amount to be feceived d whether •ny bad debt pft)NisOon should be rwnised in respert of sk)w payin9 9rantor5. P>J• 17 INTERNATIONAL BACCALAUREATE FUND (UK> IA CCMIPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED 30 JUNE 2025 INCOME FROM CHARifABLE AcTI￿nE5 Restricted lund$ 2025 USD Total fvnds 2025 uso MEXT. Jap*$e Go¥err￿ent Geman Govèmmeni Republ￿ of Soulh Korea JF R•sèarch Grant lfjng Faisal Fwndati 304.397 51,375 839,734 304.397 51.375 839.734 1.195,5C6 1.196.506 ReslrKted nds 2024 USD Total funds 2024 uso MEXT. Japanese Govemm•nl German Government RepublK of South Korea JF Re5earth Grant KN￿3 Faisal Ftxmdat 340.679 72.040 1.157.966 337.769 13.578 340,679 72.040 1.157.966 337.769 13.578 1.922.032 1,922.032 Page 18 INTERNATIONAL BACCALAUREATE FUND (UK) IA COMPANY LIMITED BY GUARANTE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 ANALYSIS OF EXPEMDITURE ON CHARITABLE ACTMTIES Summary byfvnd 1> funds 2025 USD funts 2025 USD T¢)tal 2025 USD Gefman Fund Japanese Dual Language DP Scwth Korean Oua Lan9uage DP JF Research Grant Saudi Aralya Teaclw Tr•rMrg Proje¢l 18 Gfwl Award$ 28.810 304,397 839.734 145.824 8.349 28.810 304.397 839.734 145.824 8.349 19.725 19.ns 1,327,114 19,725 1.346.839 Restr*led Unre51ric*ed fvnds funds 2024 2024 USD USD Total 2024 USD Gefman Fund Japanese Dual Languo9¢ DP Japanese Gfarrt Soulh Korean Oual LaNJuage DP IB Grant JF Researth Grant 38.010 375.679 89,150 1.157, 39.010 375,679 89.150 1.157,*6 59.768 244.140 1.745 13.578 3C6.750 59.788 244,140 1.745 Saudi T¢¥¢her Trairmvd Prop IB Gwt Awards 13,S78 306.750 1.918,523 368,263 2,286,786 AUOITORS. REMUNERATION 2025 USD 2024 USD F•ès payable to the Companrfs forthe aLM)t of Ihe Crynpanls annual accounts 17.132 15,744 Page 19 INTERNATIONAL BACCALAUREATE FUND IUKI IA COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 TRiISTEES' R&MUNERATION AND EXPENSES t*Jrirg Ihe yw. no Twstees reCe￿d any renmMe￿0n or Other beneffts {2024. USD rl). t)JriwwJ the year ended 30 June 2025. no Tfttstet expenses ha￿ been vwwrred121rd4- USD nl). CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 202$ USD 2024 USD Amounts o¥￿ to gro￿ undertakmgs 435.348 657,039 CREDifoRS: AMOUIffiS FALUNG OUE AFTER MORE THAK OME YEAR 2025 USD 2024 USD Accwals and dtlerred Ywrne 1336.77 1.923.849 Page 20 INTERNATIONAL BACCALAVREATE FUND IUKI IA COMPANY UhllTED BY GUARANTE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 10. STATEIIENT OF FUNDS STAT8AENT OF FUNDS- CURRENT YEAR Balance al 30 June 2025 USD Balan￿ at 1 July 2024 uso Gainsl (Logsesl USD USD uso UMRESTRICTED FUNDS Gener* FuTrJ Desynated FLNbJ 351.363 79.383 (19.725) 97210 428,848 79,383 430.746 (19,72SI 97310 608,231 RESTRICTED FUNDS Arm Malaysian Gth*mmenl Gemian Fund Japanese Dual Language OP Japanese Grant MYP." The Neyt Chapter Soulh Kore￿ Dual Language DP JF Research Grant Saudi Arabia Teathirrfd Proie¢t 211.597 34.234 4.200 39.021 211.597 56.799 4.2•0 39,021 445,338 51.37$ 304.397 (28.8101 13W3971 13.150 207.319 839.734 1839.7341 1145,8241 18.3491 13,150 61.495 .18.3491 954.859 1.195.506 11.327.114) 823,2S1 TOTAL OF FUNDS 1.385.605 1,195.$06 {1.346I391 97210 1 J31,482 Py21 INTERNATIONAL BACCALAUREATE FUND IUK) IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMEirrs FOR THE YEAR ENDED 30 JUNE 202S 10. STATEMENT OF FUNDS ICOIITINUED The Ge￿ Fund comprises the amounts freety avalable for tro c*arity to spend. The DesKJnated cal Aamtses) 1151.333} 1364.7541 ADJUSThIENTS FOR: IrKreaselldeL¥easel in ueditors 191.238 1599.7851 CASH PROVIDED BYUiISED OPERATING ACTMTIES 39.905 1964,5391 P*Je 24 INTERNATIONAL BACCALAUREATE FUND IUKI IA COIIPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JU14E 202S 1& ANALYSIS OF CASH AND CASH EQUIVALENTS 2025 USD 4103.608 2024 USD 3.986.493 Cash in TOTAL CASH AND CASH EQUIVALENTS 103.608 3.966,493 1& ANALYSIS OF CHANGES111 NET DEBT At 1 July 2024 Cash flows USD At30 Jun• 202S USD USD 3.966.493 Cash at bank and in Iwxl 137.115 4.103.608 3.966.493 137.115 4103.608 IG. RELATED PARTY TRANSACTI)NS The Charitls uth.male parent r￿MpanY is IrrtwnatKnal Ba¢￿a￿e* (hgarmzabon 0801, an iThJepend6nt non-profit-m&king foundats.on registered in Swrtzerland, registered number CHE-107.025.266. It is govemed by a Board of Governors. The Board may contain bew 9 and 11 mernbèrs at any one time, rrently there are 11. ConsolKSated financial ststéménts can be obta.ned from Rue du Pr&de-la-8i¢hette 1, CH-1202 Genè¥e, Swttsthd. IBO is deemed to exw{￿e as rt has the right to appoint or remove a Majority Of￿ iwrd of IB FuThJ {UK). In his positiC￿ as Director Gen￿1 of the IB. Owekko Hel￿￿n att￿d$ al the meetings of the Board of GovwTh)rs of the IB. 5its of Ihe Board ofT(USte￿ ofthe CIHrty. The Chartys Audit arKI preparalK)n ¢*f the J*ar end fThnoal slateff*nt fees of USD17.832 12024.. US015.7441 •re re¢L¥Jnised as a donalN)n frc¥n the IB. Grants parab￿ lolaThiNJ USD435,348 (2024.. USD657,0391 due lo Intemalkjnal Ba¢)3laureale OrganizatK)n. This entty makes woiecl expense payTrenls ￿ behaw of the Charity arè subsequenlly reimtr#Jrsed. P￿25