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← The Pluto Educational Trust

2023-12-31-accounts

PLUTO EDUCATIONAL TRUST Annual Report 2023

TABLEOFCONTENTS THE BOARD AND EXECUTIVE MANAGEMENT........-.-.-.-.-.-............-........................................ THE BOARD OF TRUSTEESAND DIRECTORS................................................................................... SENIOR MANAGEMENT.................................................................................................................. KEY INFORMATION......................................................................................................................... PETVISION............................................................................................................................ MISSION. NETWORK...................................................................................................................................... AIMS................................................-.-.-.-.-.-.............-..........................-.-.-.-.-.-................................ VALUES ......................................................................................................................................... REPORT FROM THE CHAIR.................................................................................................... EXECUTIVE DIRECTOR REPORT........-.-.-..................-............................................................ REVIEW OFACTIVITIES......................................................................................................... PLUTO BOOKS................................................................................................................................ PLUTO JOURNALS.........................................................................................................................10 DECOLONIALCENTRE................................................................................................................... AMEENA GAFOOR INSTITUTE ..-...............................-.-..............-.-....................-.-........................... 12 AFRICAN PUBLISHING ..................................................................................................................13 DIRECTORS REPORT AND FINANCE REVIEW.......................................................................14 INDEPENDENT EXAMINER'S REPORTTOTHE TRUSTEES 17 STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023................19 BALANCE SHEET 31 DECEMBER 2023.................................................................................. 20 STATEMENT OF CASH FLOWS FOR THEYEAR 31 DECEMBER 2023...................................... 21 NOTES TO THE FINANCIAL STATEMENTS .22 12. ACKNOWLEDGEMENTS....................................................................................................... 32

1.THE BOARD AND EXECUTIVE MANAGEMENT THE BOARD OFTRUSTEES AND DIRECTORS P M Tiffen Chair F Dove l Marshall ProfessorJN Muthuri Dr R M Van Zwanenberg Founder and Honorary President SENIOR MANAGEMENT Anne Jeanpert Finance Officer Charlie Clarke Executive Director Professor David Dabydeen Director AGI Eve Kanram Communications Officer Mohammed Elnaiem Director Decolonial Centre Dr R M Van Zwanenberg Director Plutojournals Veruschka Selbach Director Pluto Press KEYINFORMATION Independent Examiners Centora Jury Farm, Ripley, West Horley, KT24 6JT Registered Charity Number 1136616 Registered Company Number 07157868 Registered Office 72 Priory Gardens, London, N65QS PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023

  1. PETVISION MISSION Our mission is to support publishing and educational projects that empower writers. campaigners and movements striving for positive change. We believe that knowledge production is the cornerstone of resilient and enduring social movements. By supporting intellectual projects and defending world-class research we aim to inspire collective action and systemic change. NETWORK The PET Network is made up of subsidiary companies. projects and partners. It is aligned by a set of shared values and is committed to the production and dissemination of knowledge and ideas that support a more just. equal and sustainable world. PET is working to nurture, support and expand this network. LEFT BOOK CLUB PLLrro EDUCATIONAL Trusr THE DECOLONI&L CENTRE Ameena Gafoor Institute PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023

AIMS A Custodian PET is committed to safeguarding the sustainability and autonomy of radical independent publishing, particularly through its stewardship of Pluto Press and Pluto Journals. PET ensures these entities thrive by providing access to working capital, building capacity, and offering strategic leadership. Beyond merely preserving these institutions. PET'S custodianship focuses on creating a resilient ecosystem where independent knowledge production can flourish. ensuring that the critical voices represented by Pluto Press and Pluto Journals continue to be influential and sustainable over the long term. An Incubator We nurture the development and sustainability of educational and research initiatives that advance systemic change. PET provides essential governance support, seed lunding, and strategic mentorship to emerging projects. offering them the space and resources they need to grow. By incorporating these initiatives into the PET Network. PET ensures that new ideas are rigorously tested, refined, and connected to a wider community of authors, partners, and funders, fostering innovation and impact. A Heritage Project The heritage role of PET is embodied in the Radical Memory Project. which aims to preserve and transmit the collective memory of progressive movements. We are committed to introducing the PET Network's extensive back catalogue to a new generation. By making these resources accessible and relevant, we aim to inspire and inlorm contemporary movements. This initiative aims to foster intergenerational learning by connecting different generations of activists, ensuring that the rich history and lessons of past struggles are preserved and used to inspire and guide future efforts.

VALUES INTERNATIONALISM We recognise that the struggle forjustice and equality transcends borders. We are committed to a global solidarity rooted in liberation. We seek to amplify marginalised voices and support the production of knowledge and ideas that contribute to the dismantling of oppressive structures. INTERGENERATIONALITY We believe in the power of intergenerational exchange and learning. We recognize the importance of sharing knowledge and experience between age groups. By fostering dialogue and collaboration between generations. we ensure the continuity of movements for social change and the preservation of collective memory. COLLABORATION Collaboration lies at the heart of PET'S ethos. We believe in the power of collective thinking. action and cooperation to address complex social challenges and answer the big questions of our time. Through partnerships with diverse organisations, initiatives. and individuals, we maximise our impact and advance our shared goals of social justice and equality. PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023

  1. REPORT FROM THE CHAIR. PAULINETIFFEN The Pluto Educational Trust has a unique mission. of deep value in times when robust, moral, and socially relevant public knowledge are needed to Ljnderstand, act on and redress the problems of our societies and our global collectivity. PET'S primary initial purpose was to be a custodian of Pluto Books T/A Pluto Pre5S and Pluto Journals. PET'S 2019-2022 Business plan set out 3 aims to further this: To increase PET'S capacity to act by building partnerships, alliances and more visibility for the Trust To protect and strengthen radical publishing ventures To develop contributors and audiences for those ventures by investing in new projects. A great deal has been done within this scope. And. moreover, PET made significant further progress in the last year. with the hire and settling in of its first. dedicated Executive Director, a review of systems and supports needed for our grouping, and the collective preparation of an aspirational and timely Strategic Plan. The Pluto Educational Trust has gathered allies and is building a strong. interlinked and aligned network of educators, publishers. researchers and supporters. In the last few years the Trust has provided a home and support to two new ground-breaking initiatives: The Ameena Gafoor Institute for the Study of Indentureship and its Legacies, and The Decolonial Centre (DCC). This support and'incubation role has shown Trustees and supporters of the Trust, the great potential of its mission, furthering its custodianship of two established publishing companies Pluto Press and Pluto Journals. Building capacity and providing a range ol ellective supports - organisational, communications, finance arld governance for these social enterprises as well as new and emerging projects. is critical to the continued success of the Trust and the furtherance of its vision. TRIBUTETO ROGERVAN ZWANENBERG. PET FOUNDINGTRUSTEE This year saw the handover of the Board Chair from PET'S Founder Roger Van Zwanenberg - now Honorary President of PET. Roger took on the challenge of the nurture and protection of radical publishing, founding PET when he stepped down from Pluto Press, after a long career in publishing. Roger is a pioneer who has pushed constantly for a capable and sustainable PET and a strong grouping of partners and like-minded organisations. Roger's leadership of PET is marked by his great insight into publishing, a resilient sense of hope and a significant endowment of resources including funds and a building. PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023

  2. EXECUTIVE DIRECTOR REPORT. CHARLIE CLARKE l am extremely proud to have been appointed as the first Executive Director of the Pluto Education Trust and my first year in post has been a wonderful experience. The range of work being produced within our network is truly exciting and it's been a pleasure to work with such a talented and experienced group of people, committed to the difficult task of progressive social transformation. It has almost become a platitude to talk of the multiple crises we face, from the climate emergency, increased war and conflict, as well as the rise of authoritariarlism and anti-migrant politics. Movements and organisations working to challenge this situation and provide egalitarian and sustainable alternatives face huge obstacles, including state repression, under-resourcing and the rise of disinformation. At the same time, if we shift our gaze, it is not hard to find inspiring examples of people defying these obstacles through collective action and organising around the principles of internationalism, solidarity and hope. A vital aspect of movement building is the production and dissemination of research, knowledge and theories that provide a systemic analysis of the economic, social and political context we face and foreground histories and struggles that are all too often marginalised within mainstream culture. Over the past fifty years many of the traditional institutions providing such an analysis. from trade unions to university departments. as well as many media and publishing projects, have been underfunded, co-opted or closed down. It is imperative that we counter this trajectory and collectively nurture a robust and reliable ecosystem of research and education equal to the complex challenges we face. To paraphrase a well known formula: theory without action is empty and action without theory is blind. The history of Pluto Press and over the last fifteen years, Pluto Journals, demonstrates our longtime commitment to this work. With the addition of the Ameena Gafoor Institute and the Decolonial Centre over the past few years, it has expanded into new mediums, institutions, partnerships and audiences. Therefore it has been incredibly exciting to lead a review of our strategy over the past year. We have taken a step back to reflect on how PET can build on this work and harness our network and resources to further support transformative action in the world through the creation and dissemination of research. publications and education. Alongside shoring up our custodianship of Pluto Press and Pluto Journals. and thus contributing to the sustainability of radical independent publishing and knowledge production, we have identified two further strategic aims. Over the past few years PET has gained a huge amount of experience as a"home" and incubator of new educational projects. The Ameena Gafoor Institute, led by David Dabydeen, is a unique project, leading the field in disseminating knowledge and PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023

awareness around the history of Indentureship. Equally, the Decolonial Centre led by Mohammed Elnaiem, has made huge strides over the past year and is at the forefront of introducing anti-colonial perspectives ar)d histories to a new generation of thinkers, researchers and activists. PET will build on this experience by investing in its capacity to incubate new educational and research projects in the UK that help further a spirit and practice of internationalism. We will offer a home for new projects, providing seed funding, infrastructure, access to networks, as well a5 support and guidance. As an incubator, we want to contribute to the movement ecosystem, providing new projects the time and space to take risks, develop skills and networks, and build resilience. Custodianship is not just a legal issue lor PET. From Peter Fryer s landmark Staying Power.. The History of Black People in Britain to the Arab Studies Quarterly Journal co-founded by Edward Said, the Pluto back catalogue is an ir)credible resource. A key strategic aim going forward will be to play a more active role in initiating projects that bring this history alive, introducing it to new audiences. Our Radical Memory Project will aim to sustain institutional memory and facilitate intergenerational learning within the PET Network and beyond. Collaboration lies at the heart of PET'S ethos. and so as we move forward with this strategy. we are incredibly excited to build new relationships and partnerships, as well as working even more closely with everyone already involved in our network. Finally, I would like to express my gratitude to all the trustees and staff for their hard work and support in my first year. and particularly to the founding trustees Roger van Zwanenberg and Pauline Tiffen. Without Roger's incredible determination, experience, knowledge and ongoing generosity PET would simply not exist. Equally, Pauline's vast experience of building organisations and her commitment to PET'S development and growth has been invaluable. rnIL'T.111lfll ED

  1. Review of Activities Irwrn •• FOO DAN GLA

PLUTO BOOKST/A PLUTO PRESS In 2023 Pluto Books moved its UK/ROW distribution from Marston to Wiley. This included the transler of over100,000 books, setting up data for 5,500 ISBNS arld setting up printing files for over 700 books in the Zero Inventory programme which prints books in the warehouse as needed. Growth in North America was over 40 /. following the establishment of its US office in early 2022, a level of growth continuing into 2024. It published 46 books, four of which speak directly to Palestinian struggles, all published before October 7th. 2025. Greater Than the Sum of Our Parts." Feminism, Inter/Notionali5m, and Palestine by Nada Elia. One State.. The Only Democrotic Future lor Palestine/lsrael by Ghada Karmi. Hostile Homelonds." The NewAlliance between Indio and Israel by Azad Essa. and Dismontling Green Colonialism.. Energy and Climate Justice in the Arob Region by Hamza Hamouchene. The publication of Jeremy Seabrook's Private Worlds.. Growing Up Gay in Post-war Britain was shortlisted for The TLS Ackerley Prize and Aviah Sarah Day and Shanice Octavia McBean's Abolition Revolution won the 2023 Bread and Roses Award. Other notable titles published in 2023 included Mad World.. The Politics o[Mental Health by Micha Frazer-carroll, Empire of Normality.. Neurodiver51ty and Capitalism by Robert Chapman and Queer Footprints." A Guide to Uncovering Londons Fierce History by Dan Glass. A GLIIDÈ iINCOVERI LONDON FiÈkeÈ HIS Empire of Normality FOOT IIITS DISMANTLING GREEN COLONIALISM Robert Chapman UlJJ￿r¢J￿Al{1 MAD I WORLD Tri P•lilics if Ill￿11 H￿111 11 llljlll bolition olution Aviah Sarah Day & Shanice Octavia McBean 346 2F24 J48 gIX3 PLUTOéhPRESS PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023

PLUTOJOURNALS In 2023, Pluto Journals made progress in expanding its impact and fostering collaborations within the academic community. Key developments included joining the Directory of Open Access Journals (DOAJ}, becoming a JISC authorised supplier, and contributing to important discussions on the sustainability of open access. In 2023, Pluto Journals saw a significant rise in usage. building on the success of its 2021 flip to Diamond Open Access. Total user engagements reached an impressive 1,785,496, marking a 28 % increase compared to the previous year. In 2023, Pluto Journals achieved a significant milestone by joir)ing the Directory of Open Access Journals (DOAJ). DOAJ membership enhances the visibility arld discoverability of Pluto Journals, titles within the academic community. As a member of DOAJ, Pluto Journals benefits from the organisation's rigorous quality standards. ensuring credibility and trust. Moreover. DOAJ'S Open Access policies promote broader dissemination of research. fostering collaboration and ultimately increasing the impact of Pluto Journals, publications. To further strengthen its reach, Pluto Journals became a JISC authorised supplier, the consortium organisation for UK academic libraries. This streamlir)ed the process for UK institutions to support the Pluto Journals collection, emphasising the critical role of library support in sustaining open access initiatives. In November 2023, Pluto Journals contributed to the Charleston Library Conference with a presentation titled'sustainable Open Access for Social Science Journals.. Could Diamond be Forever?, alongside colleagues from Knowledge Unlatched,JSTOR, and the Canadian Digital Library. The presentation explored potential collaborations between publishers and libraries to ensure the long-term sustainability of Open Access in social science journals. By sharing insights and exploring potential collaborations with libraries, Pluto Journals contributed to advancing the conversation on how to develop a sustainable Open Access moaei Tor social science journals. 2023.5 most read articles "i ARAB STllUIEI l. Germony s Never-Ending Guilt Trip by SamirAbed-Rabbo in Arab Studies Quarterly 2. Impacto socioeconomico de la migrocion en Cuba. 2022 by José Ramon Sanabria Navarro et al in International Journal of Cuba Studies S. How to breathe by Camilla Power in Journal of Global Faultlines D15ABILITY JU5nCE Liifo EDUCATIO TR REPORT 2023

DECOLONIALCENTRE The Decolonial Centre (DCC) is a political education platform committed to promoting anti-colonial and decolonial perspectives on history, social theory, and current affairs. In 2023, the Decolonial Centre significantly enhanced its digital presence with the launch of its official website. Serving as a hub for decolonial knowledge, the website features an encyclopaedia exploring key concepts through concise, informative short reads. To amplify diverse voices, the DCC also introduced a podcast called Decolonial Dialogues that platforms decolonial and anti-colonial scholars, activists, and grassroots movements. Notable guests included political scientist, historian, and Pluto Press author Fran[oise Vergès, and researchers from the London Mining Network. The DCC'S online community grew quickly in 2023, particularly on Instagram. Through consistent, timely interventions and visually compelling content, the DCC has gained nearly 6k followers in its first year. Successful collaborations with like-minded organisations, such as the Migrants Rights Network, Amazon Watch. and Climate Vanguard, have helped to increase reach and solidify the Centre's place within a broader ecosystem. The DCC Project Director Mohammed Elnaiem was elected to the Global Justice Now council and invited to join the Guerrilla Foundation Activist council. Another achievement of the year was the establishment of a partnership with the University of Cambridge Sociology Department. This collaboration has enabled the DCC to organise joint lectures and provide funding for student contributions to the encyclopaedia. We're incredibly grateful to the Joseph Rowntree Charitable Trust for the generous support they have provided the project. THE DECOLONIAL CENTRE Defining Ccilonialis UK MINING IN THE AMAZON RAINFOREST org '&K

AMEENAGAFOOR INSTITUTE The Ameena Gafoor Institute (AGI) for the Study of Indentureship and its Legacie5 IS dedicated to advancing the understanding OF indentureship and its profound global impacts. In 2023, the AGI established the inaugural Visiting Fellowship in Indentureship Studies, organised lectures and published two issues ol its journal. Organised by Professor David Dabydeen and Dr Roger van Zwanenberg, Selwyn College, Cambridge hosted Dr Shashi Tharoor for a lecture about his book Ambedkar.. the quest for equalityin India. B. R. Ambedkar is a household name throughout India as he played a major role in drafting the constitution for a newly independent India and led the fight against caste-based discrimination. The lecture has more than a million views on YouTube. The AGI has also collaborated with the University of Cambridge to establish what is believed to be the first ever Visiting Fellowship into the study of Indentureship, the controversial system that replaced slavery in the British Empire. In 2023, Professor Gaiutra Bahadur was appointed as the first Visiting Bye-Fellow ir) Indentureship Studies. Professor Bahadur is the author of Coolie Woman." The Odyssey of Indenture, which was shortlisted for the Orwell Prize. Visiting Bye-Fellows spend eight weeks at the University, conducting research. The programme will run for an initial five years. In 2023, the AGI published two issues of the Journal of Indentureship and its legacies. Issue I centred on Khal Torabully's concept of'coolitude., The issue's collection of articles featured studies by contributors from various disciplines who discuss the concept's influence on their work. This offers both a critique and a developing framework for theorising the Indian labour diaspora. Issue 2 of the journal featured new works exploring Indian-caribbean Literature, Chinese Indenture, and the enduring legacies of indenture in Malaysia. Contributors examined personal experiences of indenture and reflected on the contributions of two leading scholars of Indian-Fijian history. The issue concluded with interviews with two artists who discussed how their ancestral stories have shaped their work. Ameena Gafoor Institute Selwyn Colle8el'An

AFRICAN PUBLISHING The Pluto Educational Trust is committed to supporting publishing in Africa and helping to address unequal access to information, opportunities and audiences. As part of this project PET began to collaborate with the African Books Collective to support their activities by h05ting and managing a grant to build on their already impressive work. The grant has generously been provided by the Hawthornden Foundation under their rubric of supporting'organisations that serve underserved literary communities, including in parts of the world with weak or non-existent literary infrastructu res. The project is supporting ABC to increase its representation at international book fairs, recruit new publishers. engage in further cultural outreach and improve its marketing and digital communications. AFPIGhl IIIIIIEI 11 DIRIThL SPhGEg Atrican Books Collective FININS*￿L4LM[J￿EmENT$ THECONTItr4ENT4NDINThE Afric4 Human Rights and the Covid-19 Pandemic .Vi'.ioaith? Dyp78mis andth•r Ini￿ratiOnS tsHuJnan Rhjh FigedomsanuGMJ LltwDes J 4.nttHWwana & Alone inthe Ir. House PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023

  1. DIRECTORS REPORT AND FINANCE REVIEW The trustees present their report along with the financial statements of the charity for the year ended 31,, December 2023. The Pluto Educational Trust (PET) is registered at Companies House (no 07157868) and is also registered as a charity in England and Wales. (No 1136616). PET'S Purpose The Pluto Educational Trust (PET) exists to advance education in the social sciences, in particular but not exclusively through research. the exchange of information and the scholarly publication of books and journals. with the aim of improving public knowledge, action and understanding in moral. social and economic issues. PET and its associated organisations are run by a passionate international team with an experienced Board of Trustees and a worldwide network of authors, scholars and activists. PET is custodian of a variety of organisations, projects and initiatives that share in its mission and means. These include two leading radical publishing ventures. Pluto Journals and Pluto Press. They have been joined more recently by two exciting ventures, the Ameena Gafoor Institute, which is raising awareness of and providing resources on the history and legacy of indentureship. and the Decolonial Centre. We set out a review of these activities on pages 10-14. Our Structure Governance and Management PET is a company limited by guarantee, registered in England and a charity registered in England and Wales. It is governed by Articles of Associatior) last revised in 2021. The Board of Trustees, who are also Directors. are responsible for the overall strategy and control of the Charity and meet at least five times a year. Responsibility for the day-to-day running of the Charity is carried out by the ED and the Executive Team. The ED has designated authority from the Board to manage the Charity on a day-to-day basis and to ensure that the strategy put in place is enacted. The Board of Trustees are selected through both an open recruitment process and targeted recruitment search. The balance of trustees is continually reviewed to ensure there is a range of diversity and skills. New trustees go through a tailored induction proces5. The board met 5 times in 2023. It also holds occasional meetings for specific ad hoc business. The Board ratifies the annual budget and anything-outside" the budget is authorised by the Chair and Trustees via business case approvals. The ED undertakes the key leadership role in the organisation and oversees all charity services. PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023

In addition to the Board there are several board committees namely which deal in more detail with specific areas. These are= Executive committee (ED and Chair) Finance committee Policy committee HR committee Decolonial Centre advisory committee The Board actively keeps under review its governance to ensure that it reflects best practice appropriate to the size of the charity. Finance Review Continuous improvement and automation of our finance processes, irlcluding the transition to a new accounting system, have led to greater efficiencies. This has allowed us to develop the management information needed to run our charity more effectively. The Finance team has fostered closer working relationships within the charity to better understand and carefully manage costs and income. In the year to 31,, December 2023, the charity made a surplus of £439,569 (compared to a loss of £100,562 in 2022). This surplus included a generous donation ol a building with a market value of £350.000 by Dr Roger Van Zwanenberg. President and Founder. Since Dr Roger Van Zwanenberg is a paid advisor to the charity. this immensely generous donation qualifies as a related party transaction. The Pluto Educational Trust maintains a prudent reserves policy to ensure the charity's long-term sustainability and ability to fulfil its charitable objectives. As of 31st December 2023, the Trust held total funds of £1,787,355, an increase from £1,347,786 in the previous year. The Trust's reserves are structured as follows: l. Restricted Reserves.. £940 designated for the Decolonial Centre project. 2. Reserves not available for operations.. a) £500.001 invested in subsidiaries b) £690,612 in tangible assets, the charity's property (building) 3. Designated Reserves.. a) £123.500 for Pluto Journals reorganisation b) £80,000 designated for investment in PET building c) £217,927 for the AGI initiative (Ameena Gafoor Institute) PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023

  1. Unrestricted and available reserves= The trustees have carefully considered the charity's financial requirements and future plan5. The contingency reserve of £110,074 represents 4 months of operating expenses, providing a buffer against unforeseen circumstances and er)suring the Trust can continue its work in the face of potential funding fluctuations or economic challenges. The trustees regularly review the reserves policy to ensure it remains appropriate for the Trust's evolving needs and the external environment. This balanced approach to reserves management allows the Pluto Educational Trust to maintain fir)ar)cial stability while maximising its impact in advancing education and knowledge dissemination. Approval by the Board The Board of trustees discussed and approved these accounts. PLUTO EDU AT

  2. INDEPENDENT EXAMINER'S REPORTTOTHETRUSTEES Independent examiner's report to the trustees ofTHE PLUTO EDUCATIONAL TRUST ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect ol my examination of your charity's accounts as carried out under Section 145 01 the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can corllirm that l am qualified to undertake the examination because I am a member of the Chartered Institute of Management Accountants. which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act" or

  3. the accounts do not accord with those records. or
  4. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination,. or
  5. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023

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  1. STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 31.12.23 Totsl funds 31.12.22 Total funds Unrestritted fund Restrirted fund Notes INCOME AND ENDOWMENtS FROM Donations and legacies 584,420 5&497 642.917 637,337 Investment income 13.324 13.324 13.594 Total 597.744 58,497 656,241 650,931 EXPENOITURE (N Raising funds 83.283 83.283 76,604 Charttable actlvltles Charitable 117.075 58,997 176,072 215,515 Other 17,092 Total 2CKI.358 5&997 259,355 309,211 Net gainslllossesl on Fnvestments 41683 42.683 I1(￿.562} NET INCOME 440.(A9 439.wj 241,158 RECONCIUATION OF FUNDS Total funds brought forward 1.347.786 1.347.786 1.106,628 TOTAL FUNOS CARRIED FORWARD 1.787,855 151))) 1,787,355 1,347,786 PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023

  2. BALANCE SHEET31 DECEMBER 2023 31.12.23 Total funds Unrestricted fund Restrirted fund Total funds Notes Tangible assets Investments io li 6￿,612 1.121,419 690,612 1.121,419 )53,287 1,(190,181 1812.031 1,812,031 I,L43,468 CURRENT ASSErs Debtors Cash at bank 12 10.113 195.54Q 10.113 195.980 97,367 153, 205.653 .093 CREWORS Amounts falling due within one ￿3T 13 12290291 19401 1230,7691 1347,0131 CURRE￿ ASSErs 124.1761 {24.6761 TOTALASSETS LESS CURRENT UABILITIES 1.787355 (SC￿} 1.787.355 1,347,786 1.787,855 I5￿J} 1.787.355 1,347,786 FUNDS 14 Reserves not available for Restricted Reserves- DCC Investments in Substdiaries Tangible Assets atlons 690,612 353,287 ted for Pluto journals reofganisation Building Restrudure Designated re5eTrEs- AGI lfic artlvlties 123,5 25.LMXI 217,927 309,702 Allocated by the board as a prLKlential tontin8etKy Available lor Operab"ons 110.074 64,301 75,905 83A91 TOTAL FUNDS 1.787.355 1.317.786 The charitsble company is entitled to exemption from audrt under Section 477 of the Companies for the year ended 31 December 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Art 2(￿. The twstees acknowledge their responsibilities for ensuring that the Charital￿e company keeps accountiTh4 records that comply Sections 386 and 387 of the Companies Act 2C￿ and preparing financial statements which 8iw a true and fair wew of the stste of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise cornp￿ with the requirerr*nts of the Companie5 Act 2(K6 relating to financial statements. $0 far as applicable to the charitsble company. Ib} PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023 20

These financial strte￿nts have been prepared in accordan￿ wth the provisions aWKaWe to charitsb* conwanies Subject to the srno11 companies wme. The financial statements were apprthtd ty the P•Jard of Trustees and authorised for issue on............................................. and were signed on its behalf by. P M Tiif¥ii- Trustee 10. STATEMENTOF CASH FLOWS FOR THEYEAR 31 DECEMBER 2023 31.12.23 31.12.22 Cash generated from operations 367,247 175.537 Net cash provided by operatirw a¢¢ivities 367.247 175.537 Cash flows from Invest1￿ artmu Purchase of tangible fixed assets Pufcha5e of tixed asset investments Sale of fixed asset investments Dividends received 1350.(WI 131.2381 42,683 13,324 1360,(MJ)I 245.059 IIIX).5621 13,594 Nyl (4511 ￿5￿ iii inv¥5111¥ dLlivitiv 1325.2311 1201.9091 Charye In cash and cash equlvalents In the reportln8 perFod Cash and cash equl¥alents * the be8lnnlr¥ ol the reportlng ptrlod 42,016 126,3721 153.964 180.336 Cash and cash equl¥alents at the end of the reportln8 perlod 195,9 153.964 PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023 21

AECON(IIATION OF NET INCO￿ TO NET CASH FLOW FKthq (x)ER4TTh￿ AaMTIES 31.1223 31.12.22 14et lrtfAhe for thè (as pÈr SttémÈnt d FlnKl•l Adkdll thljvstmenls for: Dewe(lati<￿ charges 439,569 241,15B 12.675 142.6831 113.324) 87.254 1116.244) 8.373 tividend5 fec•¥d [kne￿/ IirKreasel in Decrease In creditor5 13.594} 129.5281 131.434) Net cath wo¥kled by operalkx 367,247 J75,537 ANALYSIS ( CHANGES FUNOS At 1.1.23 Cash At 31.12a3 Cash at bar 153.964 42.016 195.980 153.964 42,016 195,980 Tot•1 153.964 42.016 195,980 11. NOTES TO THE FINANCIAL STATEMENTS 1)ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective I January 2019),, Financial Reporting Starldard 102'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. with the exception of investments which are included at market value. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023 22

that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property- 2 /0 on cost Fixtures and fittings - 33°/o on cost Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 2) DONATIONS AND LEGACIES 31,12.23 31.12.22 Services Donations and Glft aid Grants Rental Income 8.863 529.789 58,497 45.768 5,773 630,766 798 642.917 637.337 Grants received. induded in the above. are as follows: 31.12.23 31.12.22 Decolonial Centre 58,497 PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023 23

3) INVESTMENTINCOME 31.12.23 31.12.22 Other fixed asset invest- Fll 13,324 13,594 4)ANALYSIS OF EXPENDITURE Current Ye•r Artivitie5 Charitsble Alministration costs costs Fund raising costs Totals Em ee costs staff costs Other costs Other charitable Raising Funds Investment Management Administration C05ts Governance Costs 36.471 78,315 24.552 139,338 (￿.949 fA),949 11,347 18,054 28,094 1,572 11.347 18.054 28,094 1.572 65,872 139.264 54.218 259,354 Administration Costs Governance Costs 35,741 1.067 152.6461 {1,5721 83.282 176,072 259,354 Prlor Year Artivitie5 CharÉtsble Administratlon costs Costs Fund raising costs Totals ee c05ts Staff costs Other costs Other charitable Property Refurbishment Other Human Resources Other administrative 11.879 I￿,601 118.480 108.914 108,914 410,631 4,963 36.224 40.631 4.963 19.132 17.092 76,604 215.515 17,C92 309,212 5) NETINCOME/ (EXPENDITURE) Net irKome/lexpenditurel 15 stated after Chargi￿((reditIng}. 31.12.23 31.12.22 Depreciation- owned a55etS Computer software amortisation 12,675 7,773 6)TRUSTEES' REMUNERATIONAND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023 24

Trustees, expenses There were no trustees, expenses paid for ihe year ended 31 December 2023 nor for the year ended 31 December 2022. 7) STAFF COSTS 31.12.23 31.12.22 Wages and salaries Social security costs Other pension costs 126.245 8.067 5,027 104,306 10,072 4,102 139.339 118,480 The average monthly number of ern￿oYeeS durln8 the year was as follt)WS: 31.12.23 31.12.22 Employees The number of employees whose employee benefits lexduding employer pension costs) exceeded £60.LXK) was: 31.12.23 31.12.22 £Eo,fy)1- £70,C(KI £70,￿1. £80,(KMJ PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023 25

8) COMPARATIVES FOR THE STATEMENTOF FINANCIALACTIVITIES Unrestricted fund Restricted fur Totsl funds INCOME AND ENDOWMEKtS FROM Donation5 and legacies 637.337 637,337 Investment incorne 13.594 13.594 Totsl 650.931 650,931 EXPENDrruRE (hy Raisin8 funds 76.604 76,EO4 Charitable 215,515 215,515 Other 17.092 17.LV32 Total 309.211 309,211 Net gainslllossesl on investments IIIXl,5621 I1￿,562) 14ET INCOME 241.158 241.158 RECONCIUATION OF FUNDS Total fund5 brO￿t forward I,1{￿.628 1.106,628 TOTAL FUNDS CARRIED FORWJJID 1.347,786 1.347,786 9) INTANGIBLE FIXEDASSETS Computer software COST At l January 2023 and 31 Decernber 2023 2,7iXI AMORTISATION At l January 2023 and 31 December 2023 2.7C#J BOOK VALUE At 31 December 2023 At 31 De￿mber 2022 PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023 26

10) TANGIBLE FIXED ASSETS Fixtures and rittirgs Freehold property Totals At l January 2023 Addttions 2￿33 362,033 350,C 350,(XXI At 31 December 2023 710,(ll) 2.033 712,033 DEPRECIAnoN At l January 2023 Charge for year 7.2TrJ 12A50 8.746 12.675 225 At 31 December 2023 19.6 1.771 21,421 NET BOOK VAtUE At 31 December 2023 262 690,612 At 31 December 2022 352,8LI) 353,287 11) FIXED ASSET INVESTMENTS Shares in group undertakings sted investments Totals MARKETVALUE At l January 2023 Additions 5(X),(x)i 590,180 31.238 1,090,181 31,238 At 31 December 2023 621.418 1.121.419 BOOK VALUE At 31 December 2023 S￿.(1)1 621.418 1.121,419 At 31 De￿rnber 2022 590,1 I,C>90,181 12) DEBTORS:AMOUNTS FALLING DUEWITHIN ONE YEAR 31.12.23 31,12.22 Other debtors Prepayments and accrued incorne 1,626 8.487 94.740 2,627 10.113 97,367 PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023 27

13) CREDITORS: AMOUNTS FALLING DUE WITHIN ONEYEAR 31.12.23 31.12.22 Social security and other tsxes Other creditors Pensions Payable Deferred income Accrued expenses 4.8￿1 7,536 993 215.898 1.452 2,246 27,866 314,982 1,232 230,769 347,013 14) MOVEMENT IN FUNDS Net movement in funds At 31.12.23 At 1.1.23 Unresirlcted fur General f¥Jnd 1.347.786 439.569 1.787.355 TOTAL FUNDS 1.347,786 439,569 1.787,355 Net movement in fund5, induded in the above are as follow5: lrtoming resources Resources expended Gain5 and losses Movement in funds Unrestrlrted funds General fund 656,241 1259,355) 42.683 439.569 TOTAL FUNDS 656.241 1259.355) 42,683 439,569 Comparatlves for movement In funds Net movement in fvnds At 31.12.22 At 1.1.22 UiiwvJtTILted furm General fund 1.106,628 241,158 1.347.786 TOTAL FUNDS 1.106.628 241.IS8 1.347.796 Comparative net movement in funds. induded in the al￿ are as follows: If￿0m1n8 resources Resources expended Galns and losses Movement in fund5 Unrestrlrted fvnds General fund 650.931 (309.211) {l(KJ.5621 241.158 TOTAL FUNDS 650.931 309.211) {IIXl.562} 241,158 PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023 28

Net movement in funds At 31.12.23 At 1.1.22 Unrestrlrted funds General fund I,1(￿,628 680,727 1,787,355 TOT•V FUNDS 1.106.628 680.727 1.787,355 A current year 12 month$ Or￿ prior year 12 rnonths combined net mo¥enxnt Én funds. included in the above are as follow5: Incoming resources Resource5 expended Gains and losses Movement in funds Unrestrlcted funds General fund 1,307,172 1568,5661 {57079) 680,727 TOTAL FUNDS 1.307.172 (568.5661 (S7￿79) 680.727 15) RESERVES The Pluto Educational Trust maintains a prudent reserves policy to ensure the charity s long-term sustainability and ability to fulfil its charitable objectives. As of 31 December 2023, the Trust held total funds of £1,787,355, and increase from £l,547.786 in the previous year. The Trust's reserves are structured as follows: Restricted Reserves." £940 designated for the Decolonial Centre project. Reserves not available for operations: £500,001 invested in subsidiaries £690,612 in tangible assets, the charity's property Designated Reserves £123,500 for Pluto Journals reorganisation £80,000 for the building restructure £217.927 for AGI initiative (Ameena Gafoor Institute) Unrestricted and available Reserves= £110.074 held as a contingency reserve £64,301 available to develop the Charity's strategy The trustees have carefully considered the charity's financial requirements and future plans. The contingency reserve of £110.074 represents 4 months of operating expenses, providing a buffer against unforeseen circumstances and ensuring the Charity can continue its vital work in the face of polential funding Iluctuations or economic challenges. PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023 29

The trustees regularly review the reserves policy to ensure it remains appropriate for the Charity s evolving needs arld the external environment. This balanced approach to reserves management allows The Pluto Educational Trust to maintain financial stability while maximising its impact in advancing education and knowledge dissemination. 16) RELATED PARTY DISCLOSURES During the financial year ended 31 December 2023, the charity engaged in related party transactions with Dr R M Van Zwanenberg, trLJStee to the charity. The related party transaction consisted of the gift of a building with the fair market value of £550.000. This contribution was made to support the charitable objectives of the charity and is considered a significant non-cash transaction. The building has been recognised as an asset on the Charity's statement of financial position at its fair value at the date of the gift. The charity has claimed Gift Aid from HMRC (His Majesty's Revenue and Customs) on eligible donations received during the year, in accordance with the relevant tax regulations. 17) INCUBATED PROJEcrs As part of the unrestricted funds, the trustees note that there will be an amount of £217,927 (31/12/2022- £309,702) to be designated to the sole purpose of the Gafoor Institute Project. As part of the restricted funds, the trustees note that there will be an amount of £940 (31/12/2022- £Nil) to be designated to the sole purpose of the Decolonial Centre Project. 18) OTHER INVESTMENTS Pluto Journals Limited - 100 % Wholly Owned Subsidiary- £1 ordinary share held. This company is solvent and gift aids its profits to the holding company. Pluto Books Limited - 60 % Owned Subsidiary- 1500 IOp'A' Ordinary Shares. This company is solvent. Pluto Press Inc. 100 % Owned Subsidiary of Pluto Books Limited. PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023 30

19) GROUP BALANCE SHEET CONSOUDATED UiANCE SHE￿ AT 31° I￿(EMBER 2023 At 31.12.2023 31.12.2022 FIXED ASSETS Tangible assets Intangible assets Investments 695,869 23,451 776,461 1.495,781 364,502 736,512 1.101.014 CURRENT ASSETS Stock Debtors Cash at bank 257,386 521,4CQ 440,811 1.219.597 196,047 705,781 698,827 1.6tK),655 CURRENT UABIUTIES Creditors Net currenl assets 830.089 389.508 937,354 663.301 NON CURRENT UABIUTIES 37,680 56,604 Total a55ets le55 Ilabllltle5 1,847.609 1.707.711 The funds of the group 40% Minority interest in Pluto Books Limited 1.801.983 45,626 1.563.728 143,983 PLUTO EDUCATIONAL TRUST ANNUAL REPORT 2023 31

13.AKNOWLEDGEMENTS We are immensely grateful to the trusts, foundations and individuals who have supported us this year- our work would not be possible without your generosity. Dr Roger van Zwanenberg The Galoor lamily The Joseph Rowntree Charitable Trust The Barry Amiel and Norman Melburn Trust The Carmack Collective The Hawthornden Foundation PLUTO EDUCAT 32