COMPANY REGISTRATION NUMBER: 06420929 CHARITY REGISTRATION 14UAI8ER: 1127408 BRITISH FOUNDATION FOR THE UNIVERSITY OF WEST INDIES Company Limited by Guarantee Unaudited Financial Statements 31 December 2024 SALEEMI ASSOCIATES Chartered accountants 792 Wickham Road Croydon CRO 8EA BRITISH FOUNDATION FOR THE UNIVERSITY OF WEST INDIES Company Llmlted by Guarantee Flnan¢lal Ststements Year onded 31 December 2024 Page Trustees. annual report (incorporatlng the directorfs report) Independent examiners report to the trustees Statement of financial activrties (including income arKI expenditure account) Statement of financial posits'on Notes to the financial ststements 10 BRITISH FOUNDATION FOR THE UNIVERSITY OF WEST INDIES Company Llmlted by Guarantee Trustees. Annual Report {Incorporating the DITectofs Report Year ended 31 December 2024 The trustee5, are also difectors of the ¢lk*ritht4e CoM￿ny, wesent t￿1r rèrx)rt art11 indepen(lently èxèmirtd finanual statements of the charity for Il* year er4Jed 31 Decèmber 2024. Th8 trust88$ heve 8(JoK*ed proNTrslons of the Stolement of Recommended Practice ISORPI 'Accountir¥J Rew1ing by Chartties" in rrtparing Ihg 8nnuo1 reFOrt arnj finartk?l &tstement$ of I chartty. 1. R•f•r•nc• •nd admln18tr•t￿ d•tsll• Regl8tsr•d charlty nam¢ &iti"sh FOu￿110n For The UrMN•rsrty OIWe81 IndOèB Charlty r•gl•tMtlon numb•r 1127408 Company r•gl4tr•tlon numb•r W20929 Prlnclpal offlc• ind rng&t•r•d CIO 8•rbaOx High Commi88 offl 1 Great Russel St LoThkn IA¢1B 3ND Mrn Eliza￿th m￿ling￿SMilh ICh•ir) Dr Mark Richards Mrs Rosemarie Ca¢og8n {re&9ned 8 Awl 20241 Mr Lew'tt Nurse (Joined 14th Novemb•r 20241 Mr$ Oawn Bralhwalio Qo'ned 7th Novemt*r 20241 Mr Ma￿'n F￿de KC (ioir*d 14th Novemtér120241 Dr VIrthl￿ SmthHilkn8n 61h NOVem￿r 20241 Mr RavAe Parris Mrs Efizatth Comp•ny Secrntary Indep•ndenl examlner klohomm&l Asttsq Sa￿OrnI 792 WKkh8m Roal cloy￿ CRO 8EA Banker HSBC Bgr BRITISH FOUNDATION FOR THE UNIVERSITY OF WEST INDIES Company Llmlted by Guarantee Tru8ts8s' Annual ReF)Ort (Incorporatlng the Dlrectofs Report) f¢othwL¢J Year ended 31 December 2024 2. Structure. Gmmanc• and M•n•gem•nl Gov•rnln9 Document Tho Company wa8 0818blished urrfler a Memmdum d A8soo"alK*n *thich estabfish•d the ob￿cts and pmrs of tts eh9rrt8b￿ tsjmpany 8rKI is 90￿Med undw bts Arti¢*•s of Assoa8Uon. A CA)py of Ihese ￿ticleS of ASS￿l￿n resides BFLWI offw. 1 Gfeal RuB8o11 Str••t LoThJon. Palrons We kjst in 2024 of Ihg 9reale51 talerts and Sta￿rtS ol the Carit4)ean Regit?n. Sii Shridalh 'Sonnf Ramth￿ He ￿￿$ a giant of Caritb8an w#8 the former Commonwftatth Se¢retsry General and the first patron C￿10L￿￿￿r cl Th8 BFIJNI. He seryed the Commorh¥ealth and th• C81ibbean wth •￿TaOrdinary ¥ision, eompassicffl, wsdom And Iws wiwverlng dethcation lo luslice. HI$ $18te8man8Np w88 rts)ted in h"8 h[￿enItY and h'8 lead8rnPdp chor￿teriSed by his telief in th& kXJwer of dlalogue, diplomacy, coopef¥lion. Ramml 8er¥Yd 08 the Chancdlor of the Univer81ty of the West Indies11989-20031, ￿tTe 14.8 COntrib(rt￿nS *tre Contr￿ lo UWI'S devebwert aTrJ reglonBI Id•ntily. Ro$1 In Ptra￿ Sir Shndath Ramphal13 Oct 1928- 30 ALbJUSt 20241. Our current patron8 (as per our wevths indudé Mr ArthAt Ramroop OBE and th8 12 Engll8h speaking Caribbean High Commis8itins in UThled Kirwdon. namely. Anbgu8 and Barf0[￿4, Thi Bahamas, Barb*S)$. Belize, Dominica. GrÈMda, Guyana, J•mai¢8, St Krt13 and N￿1$, St Ludo, St Vincent and Iho Gtenadine$ and TrSnKlad Tob990. as represented by th•'r $or￿n9 Hi CcmmiB8i¢Thrs •rx1 mil￿0n Lead•. 8tructure c￿lItY18 wemed by tru8tee8 WIK) ¥9 w)lurte•rs. Thèy do r#)t rocelve any fom of remungrnlion lor Iholr Service. In Q2 2024 the Board undertook a 6kills audit, V*fiith indirAted ar088 vhlch required ett•nli¢)n. TM Board •Jd8d fow new truslge$ in Nobvmb•r {04 20241 lo str•ngth8n M8 o)vtrnance Iraffl6*fjrk. The daY-l￿aY administialhjn of tm office is urKlert¥ken by an Office e￿ordInator, M$ Deidre Harbert, who ov8r8ee8 all office fu￿1￿5 aThJ at BFUWI e￿nIs. Tru•t•• Indu¢tlon and Tr•lnlng New Iruslees a￿ pr￿Ided with an KKI￿tion pa¢k. a meeti￿j *ith the Chair. And cwes ol key p)lirAes atKI procedures. trustees VAII be to uThJertake orwitvj trairwng on fid(Kawy (luties. charity raw. or 8pecific risk area$ lo enswe eff¢¢tiN* go¥errAnce. BRITISH FOUNDATION FOR THE UNIVERSITY OF WEST INDIES Company Llmlted by Guarantee Trusteos. Annual Report (Incorporatlng the Dlrector's Report) Year ended 31 December 2024 3. Obb¢ls. A¢tlvlll¢s and Publlc 8•n8fit Our CharEtable ObJ•cts BFLWI, through 11$ ath¥ilios. aims to ratatyso and slieW1￿ the reht1t￿llp1 *4lh t￿ wider Caribbean diasFQrn in UK, en8ble a better uThJerstsrMling of rwr shared CLllural herlt8ge and facilitate hvid8r acce$8 to learrung 8txI de￿￿pMent. The chantabk obJ"ect8 of the BFUWI fuffil Wh public ben8frt and Char￿ab￿ obhgalKJn$. The BFIJAII 0tyeth.￿S are As folbv*8: 1. To cortribth lo th• cultural. ed￿1￿1 ar4J sodal enrithmert ol the Cwlbl)gan DIaS￿ra comm￿￿tY in the U 2. To enab￿ the Caribbean Dkq8tm in lh• UK to have access to the thills trainlng thlch the UWI offer8. 3. To rdse lund$ lo kyovkle Se￿1￿p8 and Lwrsories, the Caritthan DiasFof8 in r￿d and In SUPFQrt ol their scfvjlastic ondeaviv al The UWI and other UK in8tr1ulions vthich MOU wAth UWI, lo enabb Caribte8n Re￿￿101 gro4th and debywient. As & Small charity. all tNstee$ b'rtly overw operations. Fcwr $utsoMnmittOOB h•ve b￿n Sot up lo $UPFQrt key functions. Flnance Education Soclal medla T￿ Board of Truste￿ *ilti vofvJrtoerB in do¥ekylrvJ ow •nd comMu￿tY •ng898ment opportunrtie8. The charily activaly fundroise8 and Is in receiFrt of donations from Ihe Publ￿ to help the cherity luffil rtj charitab￿ 014eds. TM trustees èX•TcAe $tewardslip of the chority'• ro￿Tee3 in lu￿lMont ol Ouf choritablB object8. Actlvltl•s for Ih• p•rlod und•r R•port Important fj¢th¥ity ol the BFUWI 1$ Is ¢£￿tri￿￿1 to Imwovem•rrt In tho educatlongl 8chievements and attainment of C8riÈ*ean diaskxira slLKl&nts in thB UK. Our In Ihis area ha$ focused on Tatslng our profite 8mow Ihe i*aspor8 UtN3er folk*￿'nO themes.. Educationgl •¢bwbes Culturnl soLa81 events Publc *twes by re¥earthrs aryj ac•Jemks ofTh8 IMII For the yeai uTraèr rel￿. BFLMII did mt ￿51 any pubwc 8￿t8, t4rt ft)¢￿sed it8 efforts on Ixrikling charty regI￿rKe. For the perlo(l under fewt BFLI￿1 trustees focwJ their efforts on dweh¥ing pc4ioe$ lo allgn with emerging reqiriremenls *thin th8 charity sector. esFe¢ially regarding safegyordiThJ ol funds. arvj ensurirvJ proof of trnngnco regardir¥J funds rec8Ned. Publlc Benefit Statsment The Iruslee8 have f1)M￿*d With ltslr ¢kty to have regard to the ben&fft guthrbce of thg Charfty BRITISH FOUNDATION FOR THE UNIVERSITY OF WEST INDIES Company Llmllod by Guarant8e Trustges, Annual Report (Incorporatlng Ihe Dlrectofs Report) Year ended 31 December 2024 Commission. Th8 charitls adivili*s. as descritr*d in this rewrt. are inteThJed lo provide educational adVan￿rnent a￿1 cukural eniichmenl to the PLth, in K4rticulaf, erTrgagemeni the Caribbean and 118 dia5Forn cc4nmuThty in the UK. 4. Str•t•gk R•port Flnanclal R•vl•w A SLmm8ry ol finonca81 perfrym￿ is pm¥idod in tho Financt41 ReMew below. The full (l•tai16 are prnÈenled In tm ￿TrPOnSIng fingrtial statemenls Golng Conc•m: The chairt3￿¢ company continues lo be In financial star¥Jing can mogt ils ful￿ obh'gation8. DurirvJ 2024, there ￿re no sp￿lf￿an1 e%*nt8 that r•gob'vely impadod on the finono81 po&tlon. Th• Iruslees have • reasonab￿ eXFectalion that ts charity hats adequate rosourc8$ lo Contr.n￿ in operational existencg for the foreseeable futur&. Ftr tNs rn•a¢n, they conlIn￿ to adopt gdng concem bo$i$ in preparing the finamal £18lemenls. R•s•r4M Pollcy: The liu8tet8 recow18e the need lor a lo￿r¥￿ poh'w are to IXA orn in placè for tb• chartty. The intention Trs to hold rgsemis equivakn* to 12 months of Operation￿ expenditure lo cov ongolng ¢9818 and unfrjreoeen orcum*¥n¢•B. Planned Inve8tm•nt: The tTuslo08 plan to cwpt a IlnarKl•l adbitor to 058Ost %￿h In¥8slm4nl ded8k)n8 lor the chgrW8 fuMIs. L•ry• Don*tlons: Tlw Tr￿ttt# of t1￿ Eli2atth Hwpr ScPKJlwship TnAt. Z•dra Tru* cM)p￿Y {UKI Limited (ln 8ucc*$si¢)n to Barclgyy Bar* OCOI, folknm'ng complelion ol a Cwd of Grant on 19 July 2024, vrfound LP this trust fvnd and distnbthd rt8 asgel8 on 14th Oclooer 2024 to TM Biib'sh FfwrKIth'on fr*r Thtr Uthier8ily of t￿ West I￿lIeS otseolLrtely lo fv value of £125. 570.22. 8tst•m•nt on UWI London Dlnn•r The trustees are a￿re of a fUn(￿sIr¥j gola (Imèf 0￿¥¢d by of th8 W•81 Indias in London. The BFUWI **AS not invow in the (yri88tion or fin8noal manapment ol this ¥*cifrc event. Consequenuy. no income w gxpeThYiiure related to this overt 1$ rel￿d Sn these fmanual 8tstement$. BRITISH FOUNDATION FOR THE UNIVERSITY OF WEST INDIES Company Llrnlted by Guarantee TN8tee8' Annual Report {In¢orporatlng the Dlrectorfs Report) (Co￿ Year ended 31 December 2024 Fulurn Plan8 In Ihe coming 24 rn￿￿hS, the trustees ￿an lo.. Overha(1 If* charities w*b8le. aThJ ￿deve￿p an effethve 50clg1 me(la strategy Grow and strengtl*n the core membersNp base Orgenise 4 seri88 of furKlraisirwJ and wofile-rdigng events Enable the EdLUtton su￿C￿Mm￿tee lo s¢nKluie scholarship and burnary award fromgKIrf(8 aThJ wocedures for granting of $LKh scholarslipB arKI bJr8aries. Devoltsp 8 r*w inbY#menl slrateqy Continu• lo undertake a$se55mert for the Chgrlty 8rKI dev•h)p CCXrn8pondino wllde8 and yo￿dureS to mitigate •ny rfsks & Tru•te• RKpon•lblllll•• The Iru8tee8, VA)0 are 4180 411rncth for tho purpo8e5 01 c•mpony law. ar• for prépariry the trustees, feport aTrJ t￿ financial statsments in accordan￿ with awicabknlow aTrJ UK Accounting Standards. Company law requires the thanty tru6tee8 to prepare finarKial statemerls for oach year which give a true and fair view of the situatKsn of the ¢harilat4e company and Ihtr ir*orning rgwurce$ oppllrAtlon of re8OLWCe$. ￿nd￿ling tts 8ryJ exFendilwe for t￿1 period. In preporlng I1￿39 flnondg181gtem•rts. t￿ Inrni•o6 aT• rffjulr•S to.. Select S￿l&b￿ accourrting pJli(iu tl*n aPF4y Ih•m ￿n￿stently. obse￿ mtttrpJds and princaF4es in the Chwibes SORP 2019 {FRS 102}. Make I￿19eMents 8nd ￿tiMate5 that are rea80rob￿ and ￿lert. Stale whetr*r 4Oicable ar£￿n11n9 staThlafds ha4* t￿n folk)¥wd, suw to any materfal dtpartuie$ di$dosgd arKI ex￿alne(l in Ihg fin8no818talements. Prepare the thn8￿1 slalemenls on tl* wrYJ u)ncem ba&8 unles8 It 18 knapkvoprl•te to a88ume that th8 company V*ill cw11r￿ on Ihal basis. The trust8e$ are re$p)nsitye for maintsirmng yoper •t￿￿￿tIng records disdose wth rea8onabk aC￿raCY at any Ilme fir￿n(￿oI powkn of t￿ tharit8bkn c¢mwny and enabk them to ensure that the finaThial slatemanls c4Ynpty ￿ tho Comp8nles 2006. The Iruslees are also responsibltr for safeguardiThJ the assets of the chanty ond Wir#J r8gsonabkn 8tep8 lo we¥8nt frat*J And other ifregufarilié$. BRITISH FOUNDATION FOR THE UNIVERSITY OF WEST INDIES Company Llmlted by Guarantee Trustees. Annual Report Ilncorporatlng the Dlroctorfs Report) Year ended 31 December 2024 6. Approv•1 Th's tn*st•es' annLwI r•p)rt arml th8 Strateg￿ rem vnre 8ppro¥ed by tl* Bo8r(l of Trustees on 151h OCto￿r 2025 a￿1 signed on it8 bthajl ty. E. Mullir¥Js- Smllh Trustee and Ch￿r D. Br8lh*¢ite Tn•1￿ gnd Company Secrètary BRITISH FOUNDATION FOR THE UNIVERSITY OF WEST INDIES Company Llmlted by Guarantee Independent Examlnèr's Report to the Trustees of BRITISH FOUNDATION FOR THE UNIVERSITY OF WEST INDIES (¢wt*4r•dJ Year ended 31 De¢omber 2024 I rep)rt to th• trustees on my examination of the financlal statements ol BRITISH FOUNDATION FOR THE UNfvERSITY OF WEST INDIES Ilhe dgntVI for tr* ￿¥r ended 31 Dec•mber 2024. R•¥poMlbllltl•s and of report As t￿ trustees ol the company lar￿ alx) rts diffjcttys for the PLfW8e8 of 0)M￿nY Igw) are respon&'bb lor the pre￿raI￿Sn of Ihe flnanc481 $18lements In acwrdarte the rwL#romerrts of I CornpaThe$ Acl 20061.lhe 2006 Act'i. HawrvJ sab'sfifjd thal acc&)w*g of the cx)mwiy rnt rnqurnd to be audrtéd under Part 16 of lh• 20CQ Acl 8nd are eligilAe lof indepeThJent examin8lion, I report in respect of my e¥amin8tion ol chorily'$ accounts a5 carriod seclbon 145 of the Chgrrtlos Ad 2011 (the 2011 Act'l. In cllrr￿ng out my examination I h8ve the Directions u¥vèn by th& Ch8rity C¢xnmlsslon under Sects(￿ 14515llbl of the 2011 Ad. Ind•p•nd•nt ex•mln•rf• ¥tst•m•nt Since the charily's gro$$ In￿Me exc4eded £250,000 ￿ur exami￿[ rn￿t be a member of 8 tody listed in gedton 145 of IM 2011 A¢t. I confirn that l #m quaknfied to undgrtoke tho examinabon bec8u88 1 am 8 member Lrf In6titute of Chartèred AcCow￿nIS in England gfKI Wabs IICAEWI, whith is on• of thtr listod bodies. I have CDrnF4et¢d my eyamination. l ￿nfirni Ih•t ￿ matt•rn habv ctsme lo my atterllon In Conne￿0￿ Ith the •xaminth'on giving me eause to beh'eve.. fj¢p)unlSng records k8FI In Tespect d thg as rnqulred by 8•Ctp)n 386 of I 2(th Acl,. Of Ihe firnrKig1 ststements do r•)t xceAd V*ilh IPKMe rtcord8,' or the ftnanu&l slatemerts do r￿1 o)mply *ith Ihe acc4wnts'ThJ fequirem•nt8 of s8cts.on 396 01 Ihg 20C6 Act otmr than 8ny re4￿￿￿ent that the accounts uiwj a'¢n￿ and fair vthi is not a rnattef ￿n￿dered a5 part ol an iTraepe￿nt gxamln8tion' or tho finanoal $latemerts h8¥* boon prtparnd In a¢c/xd•n￿ t￿th the molhod8 and 1K1￿e$ of the &atemert of Re￿mMer￿e0 Prnctice for aC¢OLrtirvJ and reForting by Char￿eS a￿l￿ble ¢0 ¢hanl>&8 prep3rirYJ Ilw'r a¢tt•unts in accordarte V+ilh Ihe Flnancial Roroling Standard aPF4ifable in the UK aNI ReP￿￿1C of Ir8laThJ IFRS 1021. I h8v9 Tr) concefm and haN* come ocros$ ￿ oth8r mattors in with the examlnatlon lo Ith attention should b? drnvm in INS rep(xt in ord•r to •n•blo • propvr uTrJ•rstanthn9 of the accounts tr> be reacl*d. Moharnmad Saleemi Charted Accountsnt IICAEW) Saleemi Assockates 792 WSd(ham R08d Croydon CRO BEA Date.. 15 Oct 2025 BRITISH FOUNDATION FOR THE UNIVERSITY OF WEST INDIES Company Llmlted by Guarantse Statement of Financlal A¢llvftles (Includlng Income and eXper￿lture account) Year onded 31 December 2024 2024 UnT05tntteil Restrided fur￿5 Totsl fund8 Total fuTrJs 2023 In¢ome and ondowments Donoliiins and legaoes Investment •r￿me 2.322 8.678 240,570 242.8¥2 8.87B 313,033 Totsl Incom• 11.000 240.570 251.570 313.978 EX￿ndItur0 ExperKliture on r8iwng l￿dI.. Costs of rn181ng ¢Jon•t10￿ aThJ legade8 ExpeThSrturo on tharilabl• acti¥ititis Total •xp•ndlturn 12,882 2,414 15,2 12.882 2,414 47,5 I.￿0 ¢9 15.296 49,060 N•t In¢omo and n•t mov•m•Trt In 14.298) 240.570 236,274 284,918 RKonclllallon of fund• Total funds brought forytsrd Tot*1 funds urrl•d forwa 26,704 250,orK) 4￿.670 276,704 512,978 11,788 278,704 22,408 Th& 8tslemenl of financial actiwbes irKILths all gains and re¢ognis•d in the ￿•r. All income aThl eXpel￿rture den¥e contiNiTrJ ac*'bili•s. Th• not•• on ￿90• 10 10 16 fomi olthpse fimncl•l stst•m•nts. BRITISH FOUNDATION FOR THE UNIVERSITY OF WEST INDIES Company Llmlted by Guarantee statement of Financlal Positlon 31 December 2024 2024 2023 Current ¥$$èts Cash al bonk and in haNJ 513,578 277,￿4 Cr•dltorn: amounts falllng due wlthln ono year Net curr•nt 14 800 512,976 276,704 Tot•1 a•••i• l•u current liMbllltl•s 512,978 278,704 Net •u•ts 512.978 276.704 Funds of th• ¢h•rfty Re$lrictet1 funds Unre8tricted IL¢nds 4￿,570 22.408 250,OC4) 28.704 Total Gh*rlty fund• 16 512.978 276,704 For the year ending 31 December 2024 the tharity was en1￿0d to ewmFlbon from aLwJil uTrJer $¥don 477 01 the CompanSes Act 20[6 relallng lo small comFonw. Dir•¢lors' Teswnwkn'lilies.. The membtrrs love rnl fequire(1 the o)mpany lo ofrtan an gL*Jtt of ts Ilnpndal statement8 for th ar in question in a¢corfance wlh section 476,. The directors ai*rKJwledge Iheif MSP)n8ib'llt￿ for comF4Wng reqiiremerrts of Ihe Act th re8pecl lo aC￿￿rI1￿9 fecord8 and the p¥eparalion d finarKial slal¢m&nl$. These financkg18tatÈfflent$ hgve been ￿K￿red in accorda1￿ Ihe woW8tOn8 8pF41e#bk to comp8nie8 subpct to t￿ small comp•rwes' reglme. These financial $tatement$ w*re ¥pprove•s preparing Ihwr ￿t￿nIS in accordance wth the Fin8n¢i41 ReFrf)rting Standard aPFrfi￿b￿ in ￿ UK and ReputAic of IrdaThl {FRS 102) IChgniie8 SORP IFRS 10211 and the Companies Act 2006 Accountlng poll¢l Ba•lB of preparntlon The financial slatements have been prepaTed on tre historfc81 c¢sl b8*3. as modified by the revaluation ol certain linanu818$sets and Iwhht￿s arKI investmènt propert*6 measured al fair vglue Ihrough Income or expendituie. Th8 Ilnand81 statements are pr•pareil In 8ierl"ry, 7htich rs IM t￿1 ￿rrencY of the enlrty. Golng concern Thefe ar• no m•tertg1 uncerlaintw 8t4)ul tM abrlrtyto efjntlr￿. Fund accountlng Urwe8tri¢ie(I ILmds are a¥81￿ble for use at the disttdion of t￿ tru*fje8 to lurther ony ol I ¢l)arill8 WI￿888. Desigri8led lurwjs are uNestnded funds earmarked by tr￿lee8 for particu18r futuro proj•ct or commitm8nt. Re51rided fur*Js are BUt¥e(Xod lo ￿tr￿tK)nS on ts￿r 8xp8ndilure ¢J8clar¥d by &)rvJr or through Ihe terms ol an 8py¥I, ¥rKI 1811 into ￿ of I¥￿ SU￿3$$t$'. re8tri¢ted inr))me luThJ5 or -10- 8RITISH FOUNDATION FOR THE UNIVERSITY OF WEST INDIES Company Llmlted by Guarantee Notss to the Flnanclal Statements lconth￿l Year ended 31 December 2024 Ac¢ountlng pollcl•s Incomhlg r•SoU￿ I Iwming r¢sourc4s are h)duded in tlle statemem of financ481 aL*vilies when entrtlernent has passed lo charity,. rt 15 wobable that th8 ecornmic ￿n8fts assoualed wilh the Irawciion VAII 11)w to the charity ar#J the amount ¢on ￿ reliably me8$ur&J. Tle foltrwing specific Folits'e8 8r• app&ed lo porticuLgr calw)rie8 of Incon￿.. Income from donations or grnnt8 Is rècwi8ed V*hen thère 18 evhJgn(% of ethknment lo 11 gfft, r￿81pt is probable and ts amount can te measured rgliably. legw Irts)me 1$ recc*Jnis•d rK*pt ro woboblo and entmgment 1$ e8t8blsl)ed. Income from donated goods 18 megsured 41 falT Va￿ ol Iha gc¢4J$ Un￿55 th18 18 impraetul lo measure f•h'8tAy, in case Ihe Val￿ 1$ d*ri￿d from the cost lo IIK? donor or the estim8tefJ ffj$81È v8hJè. Oonated f8alit*s and 8èrthceB are reo)gniBed in the accounts when recaved rf the value can be reliat4y mgasured. No amount$ are Incl￿18￿ lor th8 cL¥th'bution cl gernrnl voknrt•ws. incomt Irom O￿tract3 for the supply of Services 1$ recogni8&J wlh the dollvery of the contracted servtce Tr18 Is clgsslfled 88 urwe8lrlc4ed fwKl8 unless there 1$ a C£Jntractu81 rwjuiremenl for it lo be spent on a particukgr purpose and retumed K ￿sPent, in whlch case rt m•y be rtgarded 88 rtstn'thd. R•8ourc•• •xp•nd Expendrture is recogni88d on •n acuual$ bg8i$ a$ a Iwtslrty 1$ i￿rned. Exper￿rtUre I￿1￿￿e6 any VAT vknich call￿1 be thjlty recovered. aThJ is cl¥Mfied urthr Madéngs of the Statement ol fiMn¢wl actm1￿￿ lo vthch rt relBteJ.' exFendrture ¢)n r•i*'rrfJ funds inclLxI•8 th& 01 811 funth*stng athvlties. evenl8, cha￿ts￿e tradlng a￿￿￿t￿8, arKI t￿ sale oldcrtad wod$. expeThJrture on thoritabK8 IndLK*s all cosls ty a charity in uThJertakirrfJ odvrtie$ that f￿1￿( its charilabkn aNns for tm tenefil of lis bengfiaar6&8, IrKI￿airYj Ihog8 supp)rt C08ts and cost8 rttating to the 00￿MIne6 of charity apport￿￿1 lo th8rbtsb actfvrtle8. other expenditure i￿1￿3 all experKlilure that 18 nother rnlaled to ral$ing fund$ lor the chartly nor ol its exper#Jrtwe on charilatle ad1￿¢18$. I coBtB are alkKaled to •xpgndtture (atewiies rolkndir6 us0 of fv r980urce. &'red o)8ts attributable to a sngte acthmty a￿ alWless 13 recogni8ed urwjer the approwiole hgad'ng ￿ th8 8tatem8nt of fingnd•l In vthlch tM gain rocognls•d. For 811 8ouIty in8lrumenls regard￿88 d &gr￿ficance, ar*J dhwr fiMThSal fj88Ot• Ihgl ar• lrnllvidu￿lY ￿gnifiCant. t￿3• are 8ssessed indrvidually for imF41ment. Ot￿r finanoal a$$•ts ar• eittiei a88e8sed iTrdiv*Jually of grovF*d on thB b#818 of ￿MilIT c[￿1rt risk charècteri8tic8. Any rover¥al$ of Impalrniert are recy)gnlsed Immediately. lo th• extsnt thal the revorsal doe8 not resLII in a Car￿n9 amounl of finan¢lal asset thai exceeds wtwt the Carryng amount would havè been hod the IM￿￿8rd not Wti¥¥￿BIff been reoJgThs￿I. Llmlt•d by gu•rant•• Compgny18 Ilmited by g￿rantee *ilhoui shore camal. TM liats.￿Y ol *a¢h nwmb•r 1$ b'mited to £1. company 18 • r4gbstfjffjd thaiity under the Chgiities Act {regl$lered charty Nmbor 1127408). & Donatlon• and l•gacl•• Lknrnslrided Re8lrf¢led Tolal Funds Funds FuThls 2024 Don•tlon• Donations Grft aid 2.322 240.570 242,892 Subs¢rfptlor Membership fees 2.322 240,570 242,892 13- BRITISH FOUNDATION FOR THE UNIVERSITY OF WEST INDIES Company Llmlted by Guarantee Notes to the Flnanclal Statements Year ended 31 December 2024 Oonatlons and legacles Unrestrided Restricted Total Funds Fund8 Fun¢J8 2023 Donatlons Don8lKJn8 Gilt aKI 2,878 12,5CLI 297.5 300,178 12,5CQ Subjcrlptloni Membership fees 355 15,533 297.500 313,033 InV￿lmInt Incom• Uvrtrbcted Tolal Fundi Urts8lri¢led Tt)tsl Fvnds FLffid8 2024 Furyjs 2023 Incom8 frfAn ￿0h In¥¢stmonts 8.678 8.678 ts ol raltylng donatlon• Ind hgacl•• Unr•8trictod Rgstrkted Total Fund¥ FuThls F￿￿￿8 2024 Costs ol rasirvJ doTh91￿$ arKI legacle8- oongb.orrd 12.882 12.882 Unro8tric*ed Fur R••lrict•d Totsl FuThls 2023 Costs of ￿￿1v￿ dongtion8 arKI leg*•s. Donat￿8 47,5 47,500 Exp0ndl￿r• oft ch•rhabl• a¢¢lvltS•• by fund typ• UN•stricled Total Fund• UN•strlcted Total FuTrJ6 2024 Fund8 2023 Sup￿1 ￿$t5 2,414 2.414 Exp•ndlturn on ¢h•rR•b￿ •¢llv5U•s by •ctsvlty typ• Support Totsl fund8 2024 Tol81 fund 2023 Chaiitabte acliwlies Go¥eman￿ co¥ts 1,814 1.814 600 600 2,414 2,414 1,$60 -14- BRITISH FOUNDATION FOR THE UNIVERSITY OF WEST INDIES Company LknSted by Guarantse Notss to the Flnanclal Statements Year ended 31 December 2024 10. Indep•ndent examlnatlon 1••8 2024 2023 Fees payable lo the ind8pet)Jenl ex￿l￿r for. IndeF*ndenl examination of the lin8ro81 stalemerts 11. Staff co•t¥ average h& cwnl cl emyo>*e8 during t￿ ￿8T w88 Nll12023'. Nir). No am￿0yea rec*ii&*d ￿p1)y￿ ￿rnfil8 of m¢y• £OO.000 yyar {2023.. Nill. 12. TnMts• remun•ratlon •xp•MI Nor￿ of lh8 InJst•e or mampmont ¢ammltt8è m8rnbgr ￿19 romuneT8to11 or yld any expense8. 13. Tanglbl• fix•d ••8•1• Equlpm•nt Cost At l J•nu•ry 2024 •nd 31 DKOM￿r X•24 D•prncl•tlon At 1 J•thwry 2024 *nd 31 D•c•rnb•r 2024 C*rySng omount At 31 Decemb•r 2tr44 743 743 Al 31 C*emter 2023 14. Crndltorn: amounts l•lllng du• wllhln one y••r 2024 2023 Acw818 and delerrod in￿￿ 600 600 BRITISH FOUNDATION FOR THE UNIVERSITY OF WEST INDIES Company Limlted by Guarantse Nots8 lo the Flnanclal Statements (con•nwrfJ Year ended 31 December 2024 16. ATralysls of charftabl• funds Unrn¥trfct•d fund• Al 1 January 20 24 31 Decern r 2024 Irwme Expen(fituTe Gemral IwKI$ 26.704 11,000 115.296) 22,408 1 January 20 23 31 December 2023 I￿Nne Expendrture General luTrJs 11.786 18,478 (1,5801 28.704 R•*trfcl•d lund• At 31 O•¢•mbe r 2024 1 j•r￿￿ry 20 24 lrtome ExpeThJitu Re￿n¢t8d Fund8 250.000 240,570 490.570 l J•nuary 20 23 31 Dwcembfrr 2023 IrKom• Exwxh'ture R081ricted FurM18 297. 147,5001 250,OCrf) 16. Analy$l• of n•t assets b•t**•n fund• Ufft15tricted Fund8 Ro$trKt8d Total Funds F￿d8 2024 Current fj¥50ts Creditors less thèn 1 23,008 {6001 22.408 49J.570 513.578 16CNJI 512,978 Net assets 4W.570 Urwe8tricted Restrict•d Total FuThJs Funds Fund$ 2023 CLmnt as￿$ Creditors knss thon 1 27,304 16fy)} 28.704 250.000 277,304 (6001 276.704 Not ¥ss•t• 250,fy)0 -16-