REGISTERED COMPANY NUMBER.. 06231613 {England and Wale8) REGISTERED CHARITY NUMBER: 1143342 REGISTERED SCOTTISPI CHARITY NUMBER: SC043441 Report of the Tru8teo8 and Flnan¢lal Statements for the Year Ended 28 February 2025 SPUC EDUCATION AND RESEARCH TRUST Knox Cropper LLP Chartered Accourilants and Statutory Auditors Ollice Suit8 1 Haslemere Hous Lower Street Haslemeie Surrey GU27 2PE
SPUC EDLICATION AND RESEARCH TRUST Conlgnls of the FIEhancial Statèments for thè YèAr Endod 28 February 202$ Page Report of the Trust•os Report of the Independent Auditors 8 10 11 Slatament ot Flnanclal A¢tlvltie$ 12 Balance Sheet 13 Cash Flow Statement 14 Notes to th• Cash Flow Statement Note8 to the Anancial Statements 16 to 28
SPUC EDUCATION AND RESEARCH TAiIST Raport ol thé Trust•8s lor tho Yeor Eniled 28 Febwary 2025 The Iruslee8 who are also directors ol the charity lor the purpose8 ol the Companies Act 2006, present their report with the financial statements ol the charity lor the year ended 28 February 2025. The trustoes have adopted the provisions of Accounling and Fleporting by Charities.. Slalement ol R8commended Practice applicable lo charities preparing their accounts accordance with the Finanelal Aeporting Standard applicable in the UK and Republic ol Ireland IFRS 102) lefleclive 1 January 2019}. OBJECTIVES AND ACTIVITIES Objactives and alms The objects of the TIu81 are.. - to relleve poverty generally - to benefll and protect unbom chlldren wlth congenllal abnormalitles and dlsabled children . lo advance medical knowledge and education in matters p&rtaining lo unborn chlldren, congenitgl abno¥malities, disabilities generally, pregnancy and the lerminalion of pregnancy. One particular area ol pregnan¢y and terminalion ol pregnancy that the Trust seeks to addr858 is help lo those struggling after abortion. Where Trust funds permit, the Trust makes grants lo other organisalions whose elhos 18 comparable with the Trust's own pro-life principles and who are able and willing to take action to presgnl this message lo othels. Public benefit The Tru8tees have referred lo Ihe Charity Commission's published guidance on tha PLtbllc bernefil requirement under the Charities Act 2011 when reviewing the Trust's aims and objectives and in planning lulure aclivilies. In partlcular, the Trustees conslder how planned acb'vilies wlll contrlbute lo the aims and objectives sel. Page 1
SPUC EDUCATION AND RESEARCH TRUST Report of the Trustsgs for ihe Year End 28 F•bruary 2025 ACHIEVEMENTS AND PERFORMANCE Slgnifl¢ant activltles In pursult ol these aims and plan8 lor future periods Abortlon Recovery Care and Helpllne (ARCH) Abortion Recovery Care & Helpline IARCHI is the flagship initiative ol the Trust and continues to provide emolional and pSh010glcal support lo those struggling aller an abortion. Services include a UK wide Helpline, one-lo-one ¢ounsellingi and support groups where wjssible. All services are ottered ¢onfid8nlially, compassionately, without ludgemenl and freg ol charge. Anyone struggling and needing support aller an abortion can contact ARCH via the Helpline10345 603 8501}, by email (info archlrusl.org.ukl or by using the contact form on the website 1www.archlrusl.org.ukl. All contacts ai8 daall with in accordance with ARCH'S Corrfidentiality and Data Policies. The work ol ARCH supporting those allected by abortion has continued throughout the year. as in previous years. Overall, 2024-25 seemed generally quieter lor initla1 ttonlacl than in previous years and the Ilrsl year of many there were not any Sncrea8es. It was noted however that web traffic lo the ARCH website remained similar lo the yoar before. New literature featuring ARCH'S new branding was designed and the new inlomiation cards were printed and distributed. There is a planned Ilmeline to print and distribute further literatule within the next year. A training course for new volunleer Belrionders took place in Scotland in April 2024 and anolher is being arranged for April 2025 irb England. One Flefresher Trainlng Day wa8 organlsed lor existlng B&friender8 and il is hoped lo increase again to two in the upcoming year. The TFU8tees intend that all Ihoso operations will ctmlinue in lulure years. b. Grants li is the Trust's policy that granl-making will be Gonsidered when It is expected that th8re wlll be suflicient funds to pay them after th8 costs of ARCH have been met and - allowing lor liming differences between receipt of surplus funds and their expenditure- wllhoul drawing significantly upon resarves over time. Applications are received from organisalions and individuals who are aware ol the Trust and ils work. All grant applications are considered individua51y by the lull board ol Iruslees on a case-by-cas6 basis, consideiing their merits and the exlenl lo which they further the aims ot Ihg Twsl. The grantees ar8 required to provide feedback and reports showing how the funds have been used and the results achieved. The Trust has decided lo focus orne meellng p8r year wh8n grants are consldered, unless submilled on an emergency basis, in order to gve better locus to other areas durlng other meetings. In the yearto 28th February 2025, the Trust was abl8 to make tho lollowing grants to other organisalions to pursue activ¢lies which align with the Trusl's own objectives. The Trust made a grant of £48,091 for the educational and research work ol SPUC Pro-Lllé Ltd 12(Y23124'. £383.0591. The Trust made a grar¢t of £60,000 to BIOS Centre. for research and publicalion of mallers relallng to our oims and objectives. The grant was approved in the previous financial year as part ol a two year agreement of suppoil subject lo satislaclory roports from the grantees. Th& Trust also made Ihe followlng grants.. . a grant of £28,000 lo the charty SPUC Pro Llle Scotland Ltd lor its educatlonal and oth81 charitable work. Page 2
SPUC EDUCATION ANO RESEARCH TRUST Roport of the Trustee8 for ihe Year Ended 28 FèbruAry 2025 a granl of £10,(K)O lo Rachel's Vineyard, lor post abortion care. a grant of £20,(YJO lo Pregnancy Crisi8 Helpline, pregnancy 8UPPOrt. - a grant of £2,2001o Right lo Life Friends in Malawi for assistance in provldlng educatlon and training programmes upon pro-life issues as in pr8vioLJS years. - a grant of £4,391 to a group in Burkina Faso lo assist in providing education prograwnme8 r8lalSng to pregnancy, abortion and other pro-lile issues, continuing work funded by similar grants made in recent years. Salislaclory reports on progress w8r8 receivod during the year lor all granle8S. c. Sales and donatlons ol loelal models The Trust's world-renowned sel ol foelal models 'How You Began with accompanying literature continue lo be gold and donated to educational groups, caring organisalions, and to other bodies in Britain and in many other parts of tre wortd. During the year six foelal model sets were sold and two 881$ were gilled lo SPUC Pro-Llfe Scotland lor their educational work. d. Publications, book sales and donatlons Thè Trust Continues lo sell and distribute copies ol various books in pursuit ol the Trust's aims. No new publications were issued this year. The Trust r81ains the ability lo issue publications in the future If the need arises, in promotion ol the Trust's aims. Investment performance The Trust's investment portfolios managed by Ralhbones Ilormerly Inveslecl and Quilter Cheviol achieved cotnbined capital and income nel rolurns for the year of 9,48. and 8.9Vo respectively compared lo the Charities Benchmark which, before lees, returned 13.5¥.. FINANCIAL REVIEW Financial position The surplus for the year was £78,87412024: £457,295 deliclll and the underlying delicil before gains and108ses on inveslm8nts was £23,50712024.' £520,989 deficitl- There was an increase in legacy income of £57,484 and an increase in donations and associated Gill Aid of £6.525. Investment income decreased by £19,690. Grants awarded in the yea¥ amounted to £112,682, compared to the prior y6aVs £557.938, whilst ARCH costs decreased by £12,235. The TrLtst manages the associated financial risk of vaiiable legacy income by maintaining a relatively low levol of core operational c08ts . which r8mainad stable in tha year . with di8creliorbary expenditure focused on grant- making and special projects that do not involve mulli-year Gownmitmenls. Page 3
SPUC EDUCATION AND RESEARCH TRUST R•port ol th• Trust•88 tor Ihe Yeai End¢d 28 February2025 HNANCIAL REVIEW Investment pollcy and oblecllve8 The Trust has a long-established investment policy that funds held in excess ol short and medlum-term cash flow needs are available lor long-lerm investment. The investment objeclive is to generate a return in excess ol inflation over the long term, while also generating income to sut4)ort the Trust's core activ¢lies. To this end the Trust has invested in commercial properly through Slannary Property Limited and the dire¢l pur¢hase ol an ollice pioperty In Preston. However, stock market inve8tment8 compris8 th8 maioTlty ol the Tiusl's asset8. The Trusvs stock market inveslm8nl8 are managed on its behalf by Ralhbones lincorporaling Inveslec Wealth & Management Limit8dl and by Quilter Cheviot Limited. The achievements of th8 fund manageis are kept under close scrutiny by the Trustees and al18ast one ot the two management companle818 Illvlted to an annual revi8w meetir¥J with the Trustees. Th8 Truste&s instruct both management companies that they must invest only in oompanies whos8 activities are cornpatlble wllh tha elhlcal standards ol the Trust. The Trustee8 are aware that the value of stock market holdings, ol prop8rty and other inv88tment items will fluctuate in accordance with general economic circumstances. The Trustees regularly monitor the linancial situation and respond accordingly. Re$erves policy Total funds at 28 February 2025 amountéd to £2,565,345, all of which are unrestricted. Excluding tarvJible fixed assets of £685, reg8N88 amount lo £2,564,660. The Trust holds r8s6Nas to ansura that il has SLJfficient resources to continue as a going concern. The total amount of reserves is predominantly represented by stock investments and cash which are held with two inveslmenl companies, Quilter Cheviol and Ralhbones. These have been glven Squal investments and have had similar levels ol performance which Is monltored by the Trusteès. The Trustees continue to give careful Ihoughl lo the Trust's future resource requirements and policy. The lur)ding of ARCH is th& Trust's priority area of work and while thè leval ol donations and18ga¢i88 has been high in recent yéars this cannot be relied upon. The long-term aim ol the reserves policy is therefore lo achieve a level of reserves al which investment income is suflici8nt to lund the wolk ol ARCH. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Trust is controlled by its governing do¢umenls, ils hA8morandum and Articles of As80ciats'on, and conslilules limited company, limited by guarantee, as defined by the Companies Act 2006. In 2023 the Trust's predecessor entity, SPUC Educational Research Tru81, number 326238, was meiged lully with th8 Trust. The former entity was removed from the A[ster of Charities and now app@ars on th8 R8gistGr of Merged Charitles. Appdlntmer*t of new tru8tee8 The Trustees musl number between three and eight trustees, all ot whom are appointed by SPUC Pro-lile Limited. During this year there were Seven Trustees who were reimbursed only lor travel and expenditure which may arise from pijrsuil ol their duties. Robin Haig resigned as Truste8 and Chair in April 2024 after over 25 years ol service. The Trustees decided to appoint al least one more Trijslee as soon as possible. John Smealon was approved to return as a Trustee and was offi'cially registered as such in May 2024. The Trustees appolnted Philippa Forsdike as the new Chair and John Smeaton as Vice Chair. Trustees must act in aceordance with the requirements of the obligatlons imposed by the Charity Commission. The Trustees have had regard to the Chaiity Commission's guidanc8 on public benefit. An 51em or¢ the agenda of all meetings is included lo examine any possible conllicl of interest which may arise. Pag8
SPUC EDUCATION AND RESEARCH TRUST eport ot thè Trustees lor the Year Ended 28 February 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational arrangement8 The Trustees usually meet quarterly, assisted by the Trust Secretary, lo whom rèsponsibility lor the day-to-day management ol the Trust's activities- especially ARCH - has been delegated. Minutes are kept and action points are logged and controlled. The Trustees vole on molions. Induction and tratning of now trust8es Prior lo appointment prospective Trustees are invited lo vis¢t the Trusvs offices and speTid lime with one or mor8 8erving Tru8tee8 lo ensure they understand the Trusvs activities and ethos from th8 outs81. They ale also provided w¢lh key documents including the Memorandum and Articles of AsSlatioN and Charity Commission guide CC3 The Essenllal Tiustee Arrangemenls for settlng pay and remunerailon of key manag6ment personnel The Trust Secretary's remuneration is Considered as part of thè general annual pay award for Trust staff, which is decided by reference to awards made elsewhere in the charitable and nol-lor-profil sector.. affordability,. and the ovgrall performance of the team. Related partie8 As noted, the appointment of Trustees is vested in the board ol SPUC Pro.Lilg Limited. The Trusvs pollcy Is to work as closely with SPUC P¥o~Life Limited as charity law permlls, whi18t maintaining a proper operational and linanclal separatlon as approprlale. Rlsk management The Iruslees have a duty lo identify and review the risks lo whlch th8 char(Iy Is 8X5)osed and lo ensure appropriate controls are in place lo provide rea80nable a88urance apnsl fraud and error. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 06231613 (England and Wales) Reglstered Charlly numb•r 1143342 SC043441 (Scotlandl R¢glstered offlce Unil C 3 Whltacré Mews Slannary Street London SE114AB Trustees J A Deighan P M Forsdike R M Haig {resigned 08.04.2024) C M Hudson A C Mull8tt J J Smealon lappoinled 17.05.20241 L A Campbell Company Secretary L M Grant Pag8 5
SPUC EDUCATION AND RESEARCH TRUST Rèptsrt of thè Tvust•as for the Year Ended 28 February 2025 REFERENCE AND ADMINISTRATIVE DETAILS Audltors Knox Croppe( LLP Chartered Accountants and Stalutory Auditors Office Sulle 1 Haslemere House Lower Street Ha81emere Surrey GU27 2PE Bankers HSBC Bank Pic 333 Vauxhall Bridge Road Victoria London SWIV1EJ Investment managers Quilter Chaviot Limited Senaloi House 85 Queen Victoria Slreel London EC4V 4AB Inveslec Wealth & Investment Limited 30 Gresham Slrael London EC2V 7QN Registered Scottish Charity number SC043441 STATEMENT OF TRUSTEES, RESPONSIBILITIES Th& Iiust&es (who are also the directors ol Spuc Education And Reseai¢h Trust lor the purposes ol company law are responsible lor preparing the Report ol the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Genorally Acceplod Accounting Praclicel. Company law r8quirBs the trustees to prepare financial stat&ments for each financial year which glv@ a Irua and fair view of the state of affairs ol the charitable company and ol the ioMIng resources and application of resources, including the income and exp8nditure, ol the chafitable company lor that period. In preparing Iho8e financlal slalemenls, the Iruslee8 ar8 required to select suitable accounting policies and then apply them consislenlly,. observe the methods and principles in the Charity SORP., make judgements and estimates that are reasonablo and prudenl-, prepare the linaricial statements on the going concern basis unless it Is inapproprlate to presume that the charitable company will continue in busin8ss. Pag8 6
SPUC EDUCATION AND RESEARCH TFIUST •port ot the Tiu$lee8 lor the Year Ended 28 Febiuary 2025 STATEMENT OF TRUSTEES, RESPONS181LITIES. contlnuod The trustees are resKN)nsible lor kegping proper accounting records which disdose with reasonable accuracy al anylime the financial position ofthe charitable company and lo enable them lo ensure that the financial statéments comply with the Companies Acl 2006. They are also responsible lor saf@guarding the assets of the charitable cownpany and hence lor taking reasonable $18ps for the prevention and delectlon ol fraud and other irregulaTilies. In so far as the trusl8@s are aware.. there 18 no relevant audit information of which the GhaTilable company's auditors are unaware., and the Iruslees have taken all steps that they ought lo have taken to make them89lves aware of any relevant audit information and to establish that the auditors are awaie ol that information. AUDITORS The auditors, Knox Cropper LLP, wll be proposed for re-appointment at the forthcoming Annual General Maeling. This report has been prepared in accordance with the 8P8cSal provisions ol Part 15 of Iha Companies Act 20C relating to small companies. Approved by order of the board ol Iruslees on 3- lo- tve{ and signed on ils behalf by.. J A Deighan- Trustee Pagg 7
R•port of the Independent Audltors to th• M•mbors ol SPUC Educatlon And Rèsearch Trust Op5nlon We have audited the linarÈcial stalemenls of SPUC Education And R8$earch Trust Ilhe 'charilable company'l lor the year ended 28 February 2025 which comprlse the Sialemenl ol Flnancial Activitias, the Balance Sheet, the Cash Flow Statement and notes lo the financial slalemenls, ir)cluding a summalyol signilicanl aOntIng policies. The financial reporting framework that has been applied in Ihoir preparation is appIable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted AG¢ounling Praclicel. In our opinion, the financial slalem6nls: - give a true and fair view of the slate ol the charitable company's affairs as at 28 F8bruary 2025 and ol ils incoming resources and application of resources for the year then ended., have been properly preparod in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the requirements ol the Companies Act 2006.. the Charities and Truste8 Investment Isoollandl Act 2005 and regtIOn 8 01 the Charitle8 Accour)Is IScotlarKII Regulations 2006. Basls tor oplnlon We conducted our audit in accordance with International Standards on AuditSng {UKI IISAS {UKII and applicable law. Our responsibilities under those standards are furthei described in the Auditors, responsibilities lor the audit of the financial slalemenls section of our roport. We are independent ol the charitable company in accordance with the ethica1 requirements that are relevant to our audit ol the financial slalemenls In the UK, including the FRC'S Ethical Standaid. and we have ftjlfilled our other ethical responsibilities accordance wth these requirements. We beli8vg that the audit aVIden we have obtained is sufficient and appropriale to provide a basis lor our opinion. Conclusfons relatlng to going concern In auditing the financial statements, wa have conduded that the trustees, us8 ol the golng concern basis of ac¢ounling in the preparation ol the financial statements is appropriate. Based on th8 wort< we have rErformed, we havo not Sdenlified any material uncertainties relating lo evenls or conditlons that. individually or ¢0118clively, may cast significant doubl on the charitable company's ability lo continue as a going concem lor a period ol al 18ast tWee mnlhs from when the tinancial statements are authoTised for Issue. Our responsibllilies and the 16sponslbililies ol the IrLtslees with respect to going concern are described in the relevant sections of this report. Other informatlon Th8 tru8tee8 are responsible for the other information. The other information comprises the information inelud8d In the Annual Report, other than the financial statements and our Report of th8 Ind8pend&nl Audilo¥s Iheroon. Our opinion on the financial statements does not cover the other Information and, gxcgpt lo the extent otherwise explicitly staled in our report, w& do nol express any lorm ol assurance concluslon thereon. In connection with our audit ol the financial stalemont8, our responsibility is to read the other inlormallon and, In ¢J)ing so, consider wheth8r the other information is materially Inconsislenl wilh the linanclal slalemenls or our knowledge obtained in the audit or otherwise appears lo be materially misslaled. If we identify such material Inconsi8tencies or apparent mattsrlal misstatements, we ar8 requir1 to determine wholher this gives rise lo a material misstat8menl In the Ilnancial statements Ihems8lves. If, based on the work we have performed, we conclude that there is a material misstalemenl of this other information, we are required to report that fact. We have nothing lo r8w>rt in this regard. Page 8
R•port ol th• k)dependent Audltors to the Members ol SPUC Education And Research Trust Oplnions on other matters pregcrSbed by the Companles Act 2006 In our opinicffi, based on the work undertaken in the course ol the audi1= the inloimalion giv8n in the Report ol the Trustees lor tho financial year for which the linancial statements are prepared is Consistent with the financial slalements., and the Report ol the TIu8lees has been prepaied in accordan¢e wilh applicable legal requirements. Matters on which we are requirèd to report by 8xception In thè light ol the knowledge and underslandirvJ of the charitable company and ils environment oblaingd in Iha coursè ol the audit, we have nol identified material misslat8ment8 in the R8port of the Trustees. We have nothing to report In respect ol the following mallers In relation lo which the Companles Act 2006 and the Charilies Accounts Iscollandl Regulations 2006 requires us to report lo youll, in our opinion.. adequate and proper accounting records have not been kept, or return8 adequate lor our audll have not been received from branches not visited by us., or the financial statements are not in agreement wrth the accounting records and relums,, or certain disdosures ol truste8s' remuneration specified by law are not made., or we have not recewed all the information and expl8nalions we require for our audit.. or - the trustees were Trol enlilled lo prepare the financial statements in accordance with the small companies regim8 and lake advantagè of the small companies, exemptions in preparing the Iruslees, report and from the requirement lo prapare a strategic reRK)rl. Respon8lblllties of Iru8teeg As explained more lully in the Slatem8nl of Tiuste8s' Aespon5iblllli85, the Irusle8s (who are also the direclors ol the charitable company lor Ihe purposes ol company lawl are responsible for the preparation ol the financial statements and lor being satisfied that they give a true and fair view, and for such internal control as the trustees d&lermin8 is necessary lo enable the preparation ol financial slalemenls that are free from material misstalem8nl, whether due to fraud or error. In preparlng the fSnanclal slat8ments, the trustees are responsible lor a8ses8ing th8 charitable company's abillly to continue as a going concern, disclosing. as applicable, matters related to going concern and using the going concern basis of accounllng unless the tiust&es either Intend lo liquidate the charltabl8 company or to cease operations, or have no realistic alterrnalive bul lo do so. Page 9
R¢port of th• Ind•p•nd8M Audltors to th• Mombars ol SPUC Educatlon And Research Trust Our re8pon8lbllltie¥ for the audit of the financial stalements We hav& been appoinled as audilor under section 4411 Ilcl ol the Charities and Trustee Investment Iscouandl Act 2CK)5 and under the Compani88 Act 2006 and report In accordance with the Acts and relevant regulations made or hav.ing 8lf&¢l Ihereunder. Our objectives are lo obtain reasonable assurance about whether the financial Slatemenls as a whole are Iree from material misstatement, whether due to fraud or error, and lo issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level ol assurance, bul is not a guarant88 that an audit conducted in accordance with ISAS IUKI wll always detect a material misslat8menl when it exigl8. Misslatèmenls can arise from fraud or èrror and are considar8d material if, individually or in the aggrégal8, Ih8y could reasonably be expected lo influence the economiG decisions ol users taken on the basis of these financial slatemenls. Thg extent lo whleh our procedures arè capable of deteoling Irr8gularllies, Including fraud is d&tailed below.. We obtained an understanding of the legal and regulatory frameworks that are appllcable to the charllable company and det8rmin8d that th8 most significant are th8 Financial R8POrting Standard 102 'Th8 Financial Reporting Standard applicable in the UK and Republic ol l¥eland' (United Kingdom Generally Accepted Accounting. PractiC81, th6 Companies Act 2006 and the Char¢lies Act 2011. The charitable company Is required lo comply with charity law and, based on our knowledge of its activities, we idenlili8d that Ihe legal requirement lo accurately account for restricted funds was of key significanc8. We understood how the char¢table company is complying with those frameworks via communlcation wlh those charged with governance, logelher with the review ol the Charity's documented policies and procedures. We assessed the susceptibility ol the charitable company's financial statements lo material misslalemellt, Including how Iraud might occur by considering Ihe key risks impa¢ling the financial slatemenls. Theso ir¢¢luded risks associated wlth Revenue Recognllion and Management Override ol Controls, whlch were dlscussed and agreed by.Ih8 audil team. Our approach Included agreelng the charitable Company recognitlon of incgme to the larms ol the undedyillg grant agreements, lega¢y do¢umenlation and associaled co¥responden¢e, the review ol joumal entries processed in the accounting records and the investigation ol Significant and unusual transactions identified from our review ol the accounting records. Based on this understanding we deslgned our audit procedures lo Identify non-compliance wllh such laws and regulations. Our procedures invofved review ol the reportin9 to the directors with respect lo the appltcation ol the documented policies and procedures and review of the financial 8talemenls to ensure compliance with the reporting requirements ol the charitable company. Th8rè arè inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions rollecled in the flnancial stalemenls, th& less Ilkely we would becomè awarè of it. The risk ol not detecting a material misslalemenl due to fraud is higher than the risk of not d8tecling one resulting from error, as fraud may involvo deliberate concealmont by, for examplo, forgery or intentional misrepresentations. or through collusion. A further description ol our re6ponsibililies for the audit ol the financial statements is localed on thè Financial R8POrting Council's website al www.1rc.org.uklaudilorsresponsibililies. This description lorms part of our Report of the Ind&pend8nl Auditors. Page10
Roport ot th• Ind•p6nd&nt AudSlor8 to lh8 Mamber8 01 SPUC Education And Research Trust Use of our report This report is made solely to thè charltable company's members, as a body, in accordanc8 with Chapter 3 01 Part 16 01 the Companies Act 2006, ar¢d lo the charitable company's trustees. as a body, In accordance with Regulation 10 01 the Charilies Accounts Iscollandl Ragulallons 2006. Our audit work has been undeitaken $0 that we might slate to the charitable compan$ members and trustees those mallers we are required lo slate lo thetn in an audilor8' report and lor no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone oth8r than the charitable company and Ihe chalilable companls members as a body and the charltable company's truslees as a body, for our audit work, loi this report, or foi Ihe opinions we have formed. Matthew Elkins FCA Isenior Stalulory Audltor) lor and on behalf ol Knox Cropper LLP Chartered Accountants and Statlblory Auditors Ollice SL¢ile 1 Haslemere House Lower Slreot Haslemere Surray GU27 2PE 141.[u..kf..... Page11
SPUC EDUCATION AND RESEARCH TRUST statoment of Flnanclal Acflvltles Ilncorpo¥atlng an Incomo and Exp•nditur• Accounti for the Ygar Ended 28 February 2025 2025 Tolal lunds 2024 Tolal funds Unr881ricled luThJ Aestricled funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 233,751 233,751 169,742 Charllable acllvltles Educational materials 1,358 1,358 1.682 Inveslm8nt income 70,839 70,839 90.529 Total 305 948 305,948 261,gs3 EXPENDITURE ON Ralslng funds 31,335 31.335 26.564 Charitable activities Granl-making ARCH Educational materials 112,682 184,092 1,346 112,682 184,092 1,346 557.938 198,045 295 Total 329,455 329,455 782,942 Net gains on inveslrn8nts 102,381 102,381 63,694 NET INCOMEI(EXPENDITURE) 78,874 78.874 1457.2951 RECONCILIATION OF FUNDS Total funds brought fgrward 2,486,471 2,486.471 2,943,766 TOTAL FUNDS CARRIED FORWARD 2,565,345 2,565,345 2,486,471 The Ftoles form part ol Ihgse linancial slal&m6nts Psg812
SPUC EDUCATION AND RESEARCH TRUST 8alanc• She?t 28 February 2025 2025 2024 Notes FIXED ASSETS Tanglble assets Investmen1$ Inveslmonls Investment proptrty 15 364 16 17 2,223,223 200,000 2,210,933 250.000 2,423,908 2.461.297 CURRENT ASSETS Stocks Deblors Cash at bank and In hand 2,600 56.067 116,517 3,214 46,772 284,477 19 175,184 314,463 CREDITORS Amounts falling du8 Wlthin one year 20 (33,74n 1289.2891 NET CURRENT ASSETS 141.437 25,174 TOTAL ASSETS LESS CURRENT LIABILITIES 2,565,345 2.486.471 NET ASSETS 2 565,345 2,486,471 FUNDS Unrestricted funds 23 2,565,345 2 486,471 TOTAL FUNDS 2 565,345 2,486,471 These financial statements have been prepared in accordance with the provisions applicable lo Gharilable cornpanies subject lo the 8mall companies regime. The financial slalemenls wgra approved by the Board of Trustees and authorlsed lor issu8 on .-ID-,.2<41f............. and w8re slgned on its behalf by: J A Deighan - Trustee The notes form part ol thes6 Ilnanclal statements Page 13
SPUC EDUCATION AND RESEARCH TRUST Cash Flow Slatemenl lor th8 Y•ar Ended 28 February 2025 2025 2024 Notes Cash IIow8 from operating actlvltles Cash gènerated Irom operations 340,105) 1334,0491 Net cash used in operaling activities 340 105) 1934,0491 Ca8h flows from Invesllng a¢tlvltltss Purchase ol tangible fixed assets Purchase ol fixed asset inveslm8nt8 Sale ol fixed asset Investments Inv8stmenl management lee8 Interest received Dividends rec8ived Rent received Movement in investment manager cash (914) {890,048) 1,019,331 117.871) 11,769 50.253 8,817 10,808 1568,6981 571.485 14.986 55,548 20,000 19a23 Net cash provided by invgsting activities 192,145 112,639 Change in cash and Ga$h equlvalenlg In thè raporting perlod Cash and cash equlvalents at the beglnnlng of Ihe r¢porting period (147,960) 1221,4101 264.477 485,887 Cash and cash equivalent¥ at the end of the reporting period 116,517 264,477 The notes form part ol thas8 financial statements Pagp 14
SPUC EDUCATION AND RESEARCH TRUST Not•8 to th• Ca$h Flow Stalemenl for Ihe Year Ended 28 February 2025 RECONCIUATION OF NET INCOMEI{EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Nei Incomellexpenditure) for the reporting period las par tho Statement of Flnancial Actlvltlesl Adjustments for: Depreciatlon charges Gain on inve81menls Interest r8ce¢ved Dividends received Renlal income Non.cash dividends Investment management loes De¢rease in stocks Ilncrea8elld8cr8asa in debtors (Decreasellincrease in creditors 78,874 1457,2951 593 {102,3811 (11,7691 (50,2531 (8,8171 365 163.6941 114,9861 155.5431 120.0001 11461 17,871 614 {9,295) 255,542 395 12,458 264.399 Net cash used In operations 340,105) 1834,0491 ANALYSIS OF CHANGES IN NET FUNDS At 1.3.24 Cash flow At 28.2.25 Not cash Cash at bank and in hand 264,477 147,960 116,517 264,477 147,960 116,517 Total 147,960 116,517 The notes form part ol Iha8o Ilnanolal slatemnls Pag8 15
SPUC EDUCATION AND FIESEARCN TRUST Notes to thg Flnanclal Stalwnonls lor thè Y•8r Endod 28 Fgbruafy 2Q25 STATUTORY INFORMATION SPUC Education and Research Trust is a privalg company, Ilmlted by guarantee, regislered in England and Walés. In addition, il is registered as a charity with the Charity Commission for England and Wales and th8 Olfic8 for th8 Scoltish Charity Regulator. The companls registered numbers and registered offic8 address can be found on pag8 5 01 the Report ol the Trustees. The presentation currency of the Ilnanclal statements is the Pound Sterling 1£). ACCOUNTING POLICIES Basls of preparing the flnanclal statements Th8 financial statements ol the charitable company, which is a publlc benefll entity under FRS 102, hava bèen prepared in accordance with the Charlties SORP {FRS 1021 'Accounling and Reporting by Charities.. Slalamenl ol Flo¢ommendeé Pracllce applicable to charilies preparing their accounts in accoidance with the Financial Reporting Standard applicate in the UK and Republic of Ireland IFRS 102118llective 1 January 20191,, Flnancial Reporting Standard 102 'The Financial Reporting StandaTd applicable in the UK and Repubtic of Ireland, and Ihe Companies Act 2006. The financial slalements hav8 been prepared under historical cost convenlion, with the 8xceplion of investments which are included al mart(el value, a8 modified by the revaluation of certain assets. The trustees consid8r that Ih8r8 ar8 no maleiial uncertainties about Ihe Trust's ability to continue as a going concern. Incom8 All income is recognised in the Slalemont of Financial Activitie8 once the charity has enlillement to the funds, il is probable that the income wlll be received and the amount can be measured reliably. Donations and legacles are credlled to the Statement ol Financial Aclivilie8 in on an accrual$ basis. Taxation recoverable on gill-aidèd donations is credited al the same lima as th& relevant donation. Inveslmenl income compris6s dlvldends and interest as well as rents ye1vable Irom the invpslmenl property, Dividends are credited when the right to receivo payment 18 established. InlÉr8s1 and rental income is creditèd on an accruals basis. Expenditure Liabili118s are recogni8ed as expenditure as soon as Ihare is a legal or constructive obligalion committing the charity lo that expenditure, il is probable that a transfer ol economic benelils wlll be required in settlement and the amount ol the obligation Qan be measui6d reliably. Expenditure is accounted lor on an accruals basis and has been classili8d under headings that aggregate all Cost relat8d lo the category. Wholo costs cannot be directly attiibuted to particular haadings they have been allocated lo activities on a basis conslstent wlh the use ol resources. Grants offered subject lo condilions which fvavo not bèen mel at the year end date are notod a8 a commitment bul not accrued as expsndlture. Tanglble Ilxed assets Depreciation is provided al the tollowlng annual rates in order lo write off each asset over ils estimated useful life. Fixture8 and fittings 25% on cost and 20Yo on cost Page 16 contlnued...
SPUC EDUCATION AND RESEARCH TRUST Note8 to ihg Financial StatèThnts- Contlnued for Ihe Year Ended 28 February 2025 ACCOUNTING POLICIES - continued Investment property Investment property is shown al most recent valuation. Any aggregate surplus or delicil arising from changès in fair value is re¢ogni8ed in the Slalemenl ol Financial Acliviti&s. Inve8tmenl$ Fixed ass6t investments in quoted shares, traded l)onds and similar investments are initially mea8ured al cost and subsequently al fair value at the balance sheet dale. Investment in a$sociat8s Inv8slm8nts in associates are measured at cost less ivnpairment. Stocks Stocks are valued at Ihg lower ol cost and net realisable value, after making due allowance for obsolete and slow moving items. Taxatlon The charity Is exempl from corporation lax on ils charitable activities. Fund accountin9 Unrestricted funds can be used in accordan¢e wth the charitable obleclives al the discretlon of the tiustees. Heslricted funds can only be used lor particular restricted purposes within the objects ol the charity. Ae8trlclions arise Wh sp8cili$d by the donor or when ftjnds are raised lor partioular reslricled purposes. Further explanalK)n of the nalure and purpos8 018ach ILJnd is included in th8 not8S to th8 financial slalements. Penslon co$t$ and other post-retirement benefits The ¢harilable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension Scheme are charged to the Statement ol Finala1 Actlvili6s in th8 perlod to whlch they relate. Financial instruments The Gompany has elected lo apply the provisions of Sectlon 11 'Basic Financlal Inslrumenls, and Section 12 '01h8r Financial Instruments Issues, ol FRS 102 to all ol ils linancial instruments. Financial Instruments are recognised in the company's statement ot financial posillon when the company becomes party to Ihe contractual provisions of the inslrumenl. Financial assets and Ilablllties aro olfsel, with the nel amounts presented in the financial stalemenls, when there 18 a legally enforceable right to Sel oll the r8cogni8ed amounts and there is intention lo settle on a net basis or to realis8 tha assét and settle the liability simLJltaneously. Basic financial assets Basic financial assets, which include debtors, are initially rneasured al transaction price including transaction costs and are subsequently carried al amortised cost using the effecllve interest method unless the ayrangement conslitules a financing transaction, wh8r8 th8 transaction is measura al the pre88nl valu8 ol the futuré receipts discounted at a market rate ol interest. Financial as8els classified as receivable within one year are not amortlS6d. Pago 17 conunued...
SPUC EDUCATION AND RESEARCH TRUST Notès to the FlnaneiBI Statements- continued for Ihe Year Ended 28 Fèbruary 2025 ACCOUNTING POLICIES- Continued Flnanclal In8truments Classification ol financial liabilities Flnanclal liabilltles and equity IrtrUments are classili8d according lo th8 substance ol the conlraclual arrangements entered into. An equity instrument Is any contract that evidences a residual inlar8st in the assets of Ihe company after deduetlng all of ils liabilities. Basic financial liabili11es Basic financial liabilili6s, including creditors, bank loans, loans frorn fellow gfoLFP companies and prelg1on¢e shares that are classilied as debt, are initially recognis8d al transaction piice unless the arrangement onslilules a financing Iransaclion, wh6r6 the dtrbl in81rument is measure at th8 present value ol the lulure payments discounted al a mathel rate ol interest. Financial liabilities classili6d as payable within one yea¥ are not amortised Dabt instruments ar8 subsequently carried al anw)rtised cost. LÈsifbg the effective inteTesl rale m@IhcKI. Trade creditors arg obllgations to pay for good8 or services that have been acquired in tho ordlnary course of business Irom suppliers. Amounts payabl8 are clas81lied as current liabillties If payment is due within one yeai. 11 not, they are piesenled as non-current liabilities. Trade ¢rodilors aig reBognised inilialty at transaction price and subsequ8nlly measured al amrtised cost uslng the effectnie rale method. DONATIONS AND LEGACIES 2025 2024 Donations Gill aid Legacies 80,473 7,829 145,449 72,931 8,846 87,965 233,751 169.742 INVESTMENT INCOME 2025 2024 Rents received Portfolio dividends & interest Deposit account interest Interest from Slannary Propèrty 8,817 50,253 3,535 8,234 20,000 55,543 6.944 8,042 70.839 90,529 Page18 conttnu8d...
SPUC EDUCATION AND RESEARCH TRUST Noto# to th• Flnanclal Statom•nt$- eontlnued for the Year Ended 28 February2025 INCOME FROM CHARITABLE ACTIVITIES 2025 2024 Activity Educational materials Sal&8 proceeds 1,358 1,6e2 RAISING FUNDS Ralslng donations and legacies 2025 2024 Fundraising costs 7,484 6,916 Investment management costs 2025 2024 Portfollo management Property repairs 17,871 5,980 19,648 23,851 19,848 Aggregate amounts 31,335 26,564 CHARITABLE ACTIVITIES COSTS Grant funding ol actlvities {see noig Dlrect Costs lseo note 81 Support costs Isèe note 101 Tolals Grant-tnaking ARCH Educational materSals 112,682 112,682 184,092 1.346 130,011 1,346 54,081 131,357 112,682 54,081 298,120 Page 19 Condnued...
SPUC EDUCATION AND RESEARCH TRUST Not8$ to Ihe Fin8nclpl Statgments - continuad lor tha Year Endod 28 Fèbruary 2025 DIRECT COSTS OF CHARITA8LE ACTIVITIES 2025 2024 Staff costs Rent and common charges Telephone Postage and stationery Advertising Sundries Travel Counsellor and supeNisor fees Educational materials costs IT costs Tralrnlng Depreciation 49,238 17,508 3,432 890 34 3,656 880 51826 1,346 920 34 593 61.624 14,106 3,428 1,010 649 2.234 48,282 395 1,501 10.955 365 131,357 142,549 GRANTS PAYABLE Totsl grant8 awarded during the year were as follows: 2025 2024 SPUC Pro-Li18 Scotland Lld SPUC Pro-Lile Limited BIOS Centre Pregnancy Crisis H8lplin8 Right To Lrfe Malawi Sianlon Healthcare (East of Scollandl Rachel's Vineyaid UK Grants to individuals 28,000 41091 28,OLX) 383,059 130,000 20,000 2.200 2,200 5,000 5,000 4.679 10,01)0 4,391 112,682 557,938 Page 20 continued...
SPUC EDUCATION AND FIESEARCN TRUST Noto$ to the Flnancial Statomants. contlnu&d for the Year End8d 26 February 202S 10. SUPPORT COSTS Governance costs Management Total$ ARCH 42,090 11,991 54,081 Support costs, included in the above, are as follows.. 2025 2024 Total AFICH Rent, rates and water Postagg and slation&ry Admlnlstration Bank charges Auditors, remuneration Trustees, travel expenses Accountancy and legal lees 31,270 499 10,037 284 11,080 243 668 30,937 9,476 312 11,399 254 3,073 54,081 55,891 11.. NET INCOMEI(EXPENDITURE) Nel incomellexpenditur81 is slalod after chargingllcreditingl.. 2025 2024 Auditors, remun8rallon Depreciation - owned assels 11,080 593 11,399 385 12. TRUSTEES. REMUNERATION AND BENEFITS There werè no tru8lees' r@muneralion or other bonefils lor the year ended 28 February 2025 nor for Ihe year 8nd8d 29 February 2024. TYustee8' expenses One Iruslee received r6imbur89menl ol travel expenses amounting lo £8312024.. three trustee8 received reimbursement ol travo18xpense8 totalling £1611. Page 21 conlinued...
SPUC EDUCATION AND RESEARCM TRUST Notes to the Flnan¢lal Statements- ¢ontinu8d tor tha Y•ar Ended 28 February 2025 13. STAFF COSTS 2025 2024 Wages ancl salarias Social sgcurily costs Other pension costs 45,796 367 3,075 57,211 804 3.609 49,238 61.624 Th8 av8rage monthly number of employees during the year was as follows.. 2025 2024 ARCH No omployees recelvad ernUments in 8xc&ss of £60.IyJO. Key manag8menl personnel is defined as the Irusleos and the ARCH dir8clor. Flemuneralion payable lo key management personn81 amounted lo £32,906 (2024 £35.5141. 14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Ivnd Restrlcted lunds Tolal funds INCOME AND ENDOWMENTS FROM Donations and legacies 169,742 169,742 Charltable activitie8 Educational materials 1,682 1,682 Inveslment income 90,529 Total 261,953 261,953 EXPENDITURE ON Raising funds 26,564 26,564 Charitable actlvftl88 Granl-making ARCH Eduoational ma19rials 557,938 198,045 395 557,938 198,045 395 Total 782 942 782,942 Nèt gains on investments 63,694 63,694 NET INCOMEI(EXPENDITURE) {457,2951 1457,2951 Paga 22 conunued...
SPUC EDUCATION AND RESEARCH TRUST Notes to the Flnoncial Sl•i¥mènis- contlnued for thè Year Ended 28 February 21)25 14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES . continued Urbreslricted Reslilcled fund funds Tota5 lunds RECONCILIATION OF FUNDS Total funds ought forward 2,943,766 2,943,766 TOTAL FUNDS CARRIED FORWARD 2 486 471 2,486,471 TANGIBLE FIXED ASSETS FIre8 and litl#igs Computgl gqUiPtnenl Totals COST At 1 March 2024 Additions Disposals 18,714 1,458 914 20,172 914 18,714) 18,7141 Al 28 February 2025 2.372 2,372 DEPRECIATION Al 1 March 2024 Chaige lor year Eliminated on dlsposal 18,714 1.094 593 19,808 593 18,714 18,714) At 28 F8bruary 2025 1,687 NET BOOK VALUE At 28 February 2025 6B5 685 At 29 February 2024 364 FIXED ASSET INVESTIJiENTS 2025 2024 Shares Loans 2,043,223 180.000 2.030,933 180,000 2,223.223 2,210,9S3 Page 23 conlinued...
SPUC EDUCATION AND RESEARCH TRUST Notes to the Flnan¢lal Statem8nts- conlinued tor thè Y•8r Ended 28 February 2025 16. FIXED ASSET INVESTMENTS- continued Additional information as lollows.. LI5ted investments Unlisted Inveslrrents Totals MARKET VALUE Al 1 March 2024 Additions Dlsposals Unrealised gainslllo8sesl Movement in Cash 2,030,913 890,048 (1,007,63S) 140,685 10,808) 20 2,030,933 B90,048 11,007,635) 140.685 10.808) At 28 February 2025 2,043,203 20 2,1)43,223 NET BOOK VALUE Al 28 February 2025 2.043,203 20 2,043,223 Al 29 February 2024 2.030,913 20 2,030,933 Olh8r ltsan$ At 1 March 2024 and 28 Febwary 2025 180,000 There were no investment assets outside the UK. Wlthin listed investments Is financial assets m8asur8d al lalr value through income and expenditure amounting lo £1,977,72512024.' £1,954,627) and cash held by the investment managers amounting lo £65,47812024: £76,286). During th8 year, listed investments with a oarrying value ol £l,1Tr)7,635 were sold for nel proce8ds of £1,019,331 reallsing gains of £11,696. Unlisted investments comprises a 20°k equity holding in Slannary Property Llmited, a private company Ilmlled by shares incorporated in England and Wales. This investment is accountwj for as an investment in an associate. It the Trust prepar8d consolidated accounls, Ihe Trust's share of the asso¢iate's profil would have amounted to £7,447. Other loans comprises £180,¢J)O loaned lo Slannary Property Limited. The loarn corr4)rises £40,000 which is inler8Bt free and £140,0(X) on which interest is chged al a rale o11Yo over the Charities Official Inveslmenl Fund Desx)sil rat8. Pg99 24 continued...
SPUC EDUCATION AND RESEARCH TRUST Notes to Ihe Flnanclal Statomenl$- cgntlnued for the Year Ended 28 February 2025 17. INVESTMENT PROPERTY FAIR VALUE At 1 March 2024 Revaluation 250,000 50,000 At 28 February 2025 200.000 NET BOOK VALUE Al 28 February 2025 200,000 At 29 February 2024 250.000 Th8 investment propety was vacated by the lenanl during the year and is belng'markeled for sala. At the yaar end, an offer for the propety has been received and accepted with the valuation adjusted lo reflect that offer. 18. STOCKS 2025 2024 Stock 600 3,214 19. DEBTORS: APIOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors Interest due from Slannary Property Gill Aid racoverable Prepayments and accrued income 80 100 549 4.817 50.621 569 3,127 42,976 56.067 46.772 Page 25 continued...
SPUC EDUCATION AND RESEARCH TRUST Notss to Ihe Flnanclal Statem8nts- ¢ontlnued for tha Year Ended 28 February 2025 20. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade ttreditors Social security and other taxes VAT Accrued expenses Grants payable 9,104 892 7,971 330 1,855 16,951 262,682 23,74B 33,747 289,289 21. LEASING AGREEMENTS Minimum lease payments undor. n0CancelIable operating leases fall due as follows.. 2025 2024 Within one yeat 10,000 The above amounts r8lalg lo the lease of the Trust's investment propety where the Trust is lessor. ANALYSIS OF NET ASSETS BETWEEN FUNDS 22. 2025 Total funds 2024 Total funds Unrestricted lund R&strltrted funds Fixed assets Investments Current assels Current liabllllie8 685 2,423,223 175,184 33.747) 685 2,423.223 175,184 33,747) 364 2.460,933 314.463 12892891 2.565,345 2 565,345 2,486,471 23. MOVEMENT IN FUNDS Nal movement in funds At 28.2.25 At 1.3.24 Unrestricted funds General fund 2,486,471 78,874 2,565.345 TOTAL FUNDS 2,486,471 78,874 2 565,345 Page 26 contlnu8d...
SPUC EDUCATION AND RESEARCH TRUST Nole5 to the Financlal Slatement8- conilnued tor the Year Ended 28 February 2025 23. MOVEMENT IN FUNDS- contlnued Net movement in funds, included Sn the above are as follow8: Incorning sources Resources 8xpendod Galns and Ioss88 MoveTnent In funds Unreslrickd fund8 General fund 305,948 (329,455) 102,381 78,874 TOTAL FUNDS 305,948 329,455) 102 381 78,874 Comp8ratlves for movement In funds Net movèmanl in funds At 29.2.24 Al 1.323 Unrestricted funds General fund 2,943,766 {457,295) 2,486,471 TOTAL FUNDS 2,943,766 457,2951 2 486,471 Comparative nel rvernent in funds, includ8d in the above are as follows.. Rasources expended Incoming Gains and losses Movement in furKIs Unrestricted funds General fund 261,953 1782,9421 63,694 1457,2951 TOTAL FUNDS 261,953 782 9421 63,694 457.2951 Page 27 contlnued...
SPUC EDUCATION AND RESEARCH TRUST Notes to lh8 Flnanclal Stalom•nts. contlnued for Ihe Year Ended 28 February 2025 24. RELATED PARTY DISCLOSURES In a praviou8 y&ar, the Trust made a loan of £210,th)O to Stannary Property Limited, a company in which the Trust is a Shareholder (Not8 81 ol whlch £30,000 has subsequently been repaid. Interest of £8,234 12024= £8,042> was charged on this loan, The Irusl paid rerbl 91 £16,605 12024.. £16,605) lo Stsnnary Property Limited during the yoar. At the year end principal of £180,OLK)12024'. £180,OCK)l and interest ol £54912024.. £5691 was owed to the Trust by Stannary Property Limi18d. During the year SPUC Educallon and Research Tru81 awardèd grants to SPUC Pro-Life LimÉt8d of £48,091 12024.. £383,059) lor ils educational woik. During the yaar the Trust was charged £10.037 (2024.. E9,4761 as a contribution towards the costs of adminislraliv6 and accounting stjpport provided by employ6es of that company. Al the year end £Nil12024.. £Nill was owed to SPUC Pro-Lsle Limited. Durlng the year the Trust made a grant lo SPUC Pro-Lile Scotland Llmited 01 £28,00012024= £28,000) lor its Bducational work. The TnJ81 shares premis8s with SPUC Pio-Lile Scotland Limited and paid lor its shale ol pr8mi8es costs paid by that company. One member of the Trust's staff is secondod part-time to SPUC Pro-Life Scotland and the Trust was reimbursed £9.184 12024'.£8,879) lor the proportionate share of employee costs. Al the year end £Nil 12024.. £Nil} was owed by SPUC Pro-Lila Scotland Limited lo the Trust. The majority ol the Iruslees ol the eharily are directors ol SPUG Pro-Lifo Limited. Pag• 28