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 pS￿h010glcal 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 AsS￿latioN 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 i￿oMIng 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 a￿O￿ntIng policies.
The financial reporting framework that has been applied in Ihoir preparation is appI￿able 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 reg￿￿tIOn 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 tWe￿e 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 requir￿1 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 applicat￿e 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 ye￿1vable 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 Fina￿la1 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 Ir￿trUments 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 ern￿Uments 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
FI￿￿re8
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 ch￿ged 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. n0￿CancelIable 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 r￿vernent 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.
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