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2022-12-31-accounts

Janiess Place Charitable Foundation ANNUAL REPORT 31 Decembor 2022 Charliy Reglstratlon Number:1144606 Company Registrutlon Number. 7819270

ST. JAMES'S PLACE CHARITABLE FOUNDATJOIY Annual Report for the year ended 31 December 2022 Contents Page(s) Chair's Report Trustees, Annual Repoit Statement of Trustees, Responsibilities 10 Independent Auditors, Report to the members of St. Jomes's Place Charitable Foundation statement of Financial Activitles 15 Balance Sheet 16 Cosh Flow Statement 17 Notes to the Financial Statements 18-28

ST. JAMES'S PLACE CHARITABLE FOUNDATION Annual Report for the year ended 31 December 2022 Chalr's Report Revlew of 2022 2022 was a significant ygar in the history of the Foundation as w8 celgbrated 30 years of givin9 our help and support to charities both in the UK and across the world. Now one ol the largestcorporote Foundations in the UKweore humbled by thegenerosity ond commitment of the SJP community and their passion to make o posltlve dlfterence Sn their communitles. We ore pleased to report that in 2022,withthefurther Ilftlng of pondemic restrictions fundraising activitles recovered to more of the pre-pandemic level with the St. James's Place (sJpl communlty responding positively. Consequently, together with the company motching, we raised (sn Impressive £10.4m. This has enabled us to Increase our grant-making activity and be there for many charities struggling with the longer-term impact that COVID and the beneficiaries they support. The total raised ond gronted, slnce our inception in1992, is now over £120m. As ever the fundraising efforts of the SJP community were many and voried, with a return to office working office-based fundraising activitles were back on the calendor. Beyond the office we sawmanygoll days bythe Pa¥tnership,whlch ralsed over £200,000 and Fundraising Balls. The Cambridge SJP Location even held a Talent Nlght, from across their local community, raising almost £50,000. Members of the SJP communlty also took part in some of the more physically challenging events suchosacyclerldein Italy, Trekking in Bavaria and Nepal, and even climbing to Ever8St Base Camp whlch collectlvely ralsed almost £600,000. The SJP community also showed thelr generosity and community splrlt beyond the UK borders, to exceptional global events. Special Appeals were launched in support of. those impacted by the conflict in Ukraine, which raised £1.4m to support the leading humanitarian charities, such as Red Crossond Disasters Emergencycommittee {DEC) who provided onthe ground frontllne aid. In August following the flooding trogedy in Pokistan a further £lOO,000 was raised and distributed to the DEC. Underpinning all of the above, we are proud that the regular monthly giving scheme continues to be a core fundraising mechanic for the Foundation. 85/0 of SJP Partners and employees contribute to this, which raises abovt o third of our annual Income. As noted previously this is essentiol to our multi-yeai gront making, knowlng that we have thls regular income to be ablg to pledge forward. I would like to take this opportunity to thank the SJP Communlty and in particular, the Foundation Representatives and Foundation Committees in each of the SJP Locations for their generosity and continued commitment to the Charitable Foundatlon. In addition, I would like to extend our thanks to the SJP shareholders for both supporting the day to day running costs of the Charitable Foundation and their ongoing commitment to matchSng the fundralsing activities.

ST. JAMES'S PLACE CHARITABLE FOUNDATION Annual Report foi. the year ended 31 Deccmber 2022 Helping to make a positlve and la$tlng difference to those less fortunate In 2022 we distributed £IO.I milllon to 583 charities across the UK, Asia and other ports of the world. Added to this, is a further £4.4m in pledges to support the multi-year grants over the next 2-3 years. As o funder we continue to focus on ensuring our grant-making is having the maximum impact and our annual evaluation demonstrated that we continue to support substantive and transformational change (delivering combined evidenced score of 64°A of beneficiaries experiencing this) amongst the charities we support. We are also committed to listening to our grantees and their chonging needs so that we can offer the right support to them. We are Proud of the fact that we work collaboratively with grant portners, not only offering financial support but also wider holistic support in terms of facilitoting access to the SJP community who ore keen to share their skills and time to support a charity. We helped support thousands of hours ol charitable volunteerlngi from mentoring ol young people, coaching senior leaders in charities to delivering the Helping Hands progiomme lor our key partner charityi Wellchild, to name just some of the activities. We continued our commltment to kgy chority partners, such os Panathlon, who hove evolved their delivery model off the back of COVID ond are now reaching out to even more young people with disabllities. We committgd further funding to the Onside Youth Network to enoblg them to reach thelr umbitions, pledging our support to 4 new locations across the UK, enriching youth support services in disadvantaged communities. And our long-standing partnership wlth Hope and Homes for Children was strengthened further whan w8 were able to extend our support to them around the Ukraine crisis, ensuring the safety of thousands ol chlldren caught up in the conflict. We are honoured to workwith so many incredible charities, now more than ever and admire their efforts and dedication in helping those in need. Looklng aheod The challenges to charities continue and the longer-term impact of COVID is still veiy evident, together with emerging challenges such as the cost-of-living crisis, which serve to exacerbate need even fuither omongst the charities we support. We aim to continue to build on our success, working collaboratively with our charity partners, to ensure we can support them in the right way and with maximum impact. We will also look to identify new partners who we can support in their growth plans or plug gaps in service delivery whare there is real need in under-funded geographic areas (as identified in our recent evoluation and mapping exercise). We know that with the continued support and generosity of the SJP community we can and will make a difference. Andrewcroft Chalr. St. James's Plocecharitable Foundalion

ST. JAMII S'S PLACE CHAIUTABLE FOUNDATION Annual Report for the year ended 31 Decembei'2022 Trustee8' Annual Report The Trustees. who are also Directors of the Chorlty for the purposes of the ComponSes Act 2006, preser)t their annual report along with the audited flnancial statements ol the Charity for the year from l January 2022 to 31 December 2022. The flnancial statements have beèn prepared in occordance with the accounting policies set out in Note I to the financial statements and comply with the Charity's trust deed, the Charities Act 2011, the Companies Act 2006 and the Statement of Recommended Practice Accountlng and Reporting by Charities and FRS102. Reference and Administrative Detalls Charity name Company registTatlon number Charity number St. James's Place Charitable Foundation 7819270 1144606 Tru$teo$ and Directors Andrew Croft (Chair) Andrew Humphries lan Gascoigne Malcolm Cooper-smith Sli Mark Weinberg Robert Medwyn Edwards Sonia Gravestock Bankars Barclays Bank plc, Loicester, LE87 2BB Bank ol Scotland plc, 150 Fountainbridge, Edinburgh, EH3 9PE Investment managers Goldman Sachs, 2 Stonecutter Street, London, EC4A 4AU BlackRocL12 Throgmorton Avenue, London, EC2N 2DL Independant Auditors Principal Address Prlcewaterhousecoopers LLP 2 Glass Wharf Bristol BS2 OFR st. Jomes's Place House l Tetbury Road Cirencester Gloucestershire GL71FP

ST. JAMES'S PLACE CHARITABLE FOUNDATION Annual Report for the year ended 31 December 2022 Tru$tees' Annual Report Contlnued Prlnclpal Olflcer$ (Managlng Commlttee) Chair and Trustee Andrew Croft Trustees and Directors Andrew Humphries lan Gascoigne Molcolm Cooper-smith Sir Mark Weinberg Robert Medwyn Edwards Sonia Gravestock Head of Choritoble Foundation Catherine Ind Objectives and activitles The aims and objectives of the Charitable Foundation are to promote such purposes that are exclusively charitable accordlng to the law in England and Wales as the Trustees shall determine. In carrying out Its aims ond objectives, the Chaiitable Foundation moy receive and make donation The Trustees believe that their grant making policy is in keeping wfth thè Charity Commission's guidance on publlc benefit. We contlnue to focus our grant making on core themes.. Supporting children who are disadvantaged or have a physical or mental disability Hospices hAental health Cancer support Armed Services Iveterans Such funding is always made through registered charities. Further details ol grants made can be found in Note 4 of the Notes to the Financial Statements. A¢hievomont & porlormunce The Charitable Foundation, with the support ol the SJP community along with company motching from SJP plc succeeded in raising £10.7 million (2021 £8.1 million). During the year we granted £IO.I million (2021 £6.1 million), of which 80% went to chaiities within the UK. FLtrther details of the fundraising activities of The Charitable Foundation togeth9r with grants mode can be found In the Chair's Report.

ST. JAMES'S PLACE CHARITABLE FOUNDATION Annual Report for the year ended 31 December 2022 Trusteas. Annual Report contlnued structure. Govarnan¢e and Manag•ment Th8 Charitoble Foundatlon 5s a company Incorporated under the Companies Act 2006, limited by guarantee and not having a share capital. It is govelned by its memorandum and articles of associotion. The power ol oppointing new Trustees of the Charitable Foundation is v8Sted in the Trustees. The minimum number of Trustees to exercise anydlscretlon of power is three,whilst a new Trustee may be appointed at any time, elther 0$ o replacement or as an additional Trustee. The Trustees and the Charitable Foundation Team, work wth the St. James's Ploce Group community, cllents and suppliers to further the alms ond objectives ol the Charitable Foundation. Trusloolndu¢tion ond Trainlng New Trustees are gTven a formal induction, wlth the opportunlty to meet members of the wider Charitable Foundation teom, supported choritles and relevant materials such as copies of previous reports, financial statements, minutes of Trustee and commlttee meetings, and a copy of the Charity Commission's guidance'The Essentlal Trust&e'. What you need to KnoW'. Updates on charity administration and sp8cialist artlcles are provlded by the Head of Foundation as required. Management The Charitable Foundation is an Independent registered charity. Whilst Ihe Trustees have overall responsibility for all activities carried out by the Charitable Foundation, the day-to-day operations are undertaken by a dedicoted Charitable Foundation Team led by Catherine Ind, who will refer any policy decisions Mthich need to be made to the Trustees. The Charitoble Foundation Team is also supported by a voluntary committee of representatives from each of the offices within the St. James's Place plc Group. St. James's Place plc also provide a number of supplied semces to support the day- to-day operations of the charity, as specified in the Collaboration IFramework Agleement between St. James's Place plc and the Charity. Grant Mtsklng Pollcy Recommendations for grants to be awarded under the current themes are made by a delegated managlng committee and the Trustees os appropriate.

ST. JAIVIES'S PLACE CHAIUTABLE FOUNDATION Annual Report for the year ended 31 December 2022 Trust8e8' Annual Report continued Grant maklng Impact on the¢harltles thecharltuble Foundatlon support The Trustees produc8 seporately to the annual rewrt ond accounts, an annual Impact R8porL which summarises and highlights the fundraising activities of the Charitabla Foundation, as w911 as both grant making and impact on the charlties the Charitable Foundation supports. A copy ol the latest Impact Report can be downloaded from the internet aL ￿1p[￿￿. Rlsk Management The Trustees have a risk matrix, identifying all key risks for the Charitoble Foundation. These are reviewed and assessed ateach Trustee meeting and the Trustees are sotlsfled that systems are In place to mltigate the exposure to the major risks. Key financial risk and controls include.. The Charitable Foundation holds cash until it is paid out in grants, and a surplus ol cash usually builds up until it is paid out. The vast majority of thls cash is held with highly rated banks and A rated Money Market Funds, which are available on same day occess. Regular cashflow torecusts are produced which identifies the surplus of cash above what will be paid out in grants in the following months. To obtain o higher retum for some of the surplus an appropriate amount Is Invested with highly rated and collaterolised Money Market Fixed Term Funds (currently up to three months in duration), and with o A rated, environmentally oware, Money Morket Fund which is accessible on a same day basis. It is not the Charitable Foundation's intention to hold large amounts of funds in order to earn investment income. The impact of COVID restrSctions lifted in 2022 and income generation significantly improved, that said we contlnuou8ly monitor the finances of the Charitable Foundation and make adlustments to the level of grants made in occordonce with funds available. The overall Hnancial statements for the Charitable Foundotion show a surplus position and the Trustees do not see any long-term impact to the ability of the Charitable Foundation to continue to raise funds and make charitable grants. Investment Policy There ore no rgstrictions on the Charitable Foundation to invest. The mojority of cash is held within Money Market Funds or interest-bearing bank accounts where funds are available to meet the cost of grants as and when they arise. An element of cash is Invested in Money Market Fixed Term Funds with varying maturities to ensure that funds are available as required for grant commitments. Surplus cash is retained until grants are pald out. Whllst interest is generated from cash being held in interest bearing accounts. cash is raised for the purposes ol making grants as opposed to being held long term as an investment.

ST. JAMES'S PLACE CHARITABLE FOUNDATION Annual Repoit for the year ended 31 December 2022 Trusleo$' Annual Report contlnuod Rèvlewof Fund$ and Funds pollcy As at 31 Decgmber 2022 tho total funds were £6,482,606 (2021.. £6,111,021). The Trustees r8view their Funds policy regularly throughout the yeor. The Chorltable Foundation alms to have Cf Positive balonced position between the Funds held and the Contingent Llobilltles for future giant& Funds were in excess ol contingent liabilities for future gronts during the current year. DIsclo$u￿OI Infi)rmatlon to uudltor8 The frustees who held office at the date of opproval of thls Trustees. report confirm thaL so far as they are each aware, there is no relevont audit informution ol which the Charitable Foundation's auditors are unawore,. and eoch Trustee has taken all the steps that helshe ought to have taken as a Trustee to make himselflherself aware of any relevant oudit information and to estoblish that the Charitable Foundatior) s auditors ore awore ol that Informotlon. Small Company Provlslons Thls report has been prapared in accordance with the special provisions for smoll ¢omponles under Port 15 01 the Companies Act 2006. The Trustees have taken advantage of the small companies exemption from preparing a Strotegic Report. Golng concern The Trustees ore satisfied that the Charitable Foundation can continue to use the going concern basis in preporing the financiol statements. In making this assessment the Trustees have considered the projected cash flows of the Chorltoble Foundatlon whlch show that the Charitable Foundation has sufficient resources for the foreseeoble future.

ST. JAMES'S PLACE CHARITABLE FOUNDATION Annual Report foi'ihe year ended 31 December 2022 Statement of tru8tees' re8pon$lbilitles The trustees (who are also directors of st. James's Place Charitable Foundation tor the purposes of company law) ore responsible lor preparing the Trustees, Annual Report and the financial statements in occordance with applicable law and regulation. Compony law requires the trustees to prepare financial statements for each financiol year. Under that law the trustees have prepared the financial statements In accordance with United Kingdom Accounting Standards, comprising FRS 102"The Financlal Reporting Standard applicable in the UK and Republic of Ireland- and appllcable low (United Kingdom Generally Accepted Accounting Practice). Under compony law the trustees must not approve the financial statements unless they are satlsfled that they glve a true and fair view ol the state ol the affairs of the charitable comFX]ny and of the incoming resources ond application of resources, including the income and expenditure, of the charitable compony for that period. In preparing these linanclal statements, the trustees are required to.. select suitable accounting policies and then apply them consistently; observe the methods and principles in the Stalement of Recommended Practlce= Accounting ond Reporting by Charities (2019); and make judgments and estimates that are reasonable and prudent. The trustees are responsible for kooping odequate accounting records that are sufliclent to show and explain the choritable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets ol the charitable company and hence for taking reasonable steps lor the prevention and detectlon ol fraud and other Irregularities. This report was approved by the Trustees on 13 July 2023 and signed on their behalf by. Andrew Crolt Chalr ol Trustees 10

ST. JAMES'S PLACE CHARITABLE FOUNDATION Annual Report for the year ended 31 Decembei. 2022 Independent auditors. report to the membgrs ot st. James's Placg Charliablo Foundatlon Report on the audlt ol the flnanclal statomgntts Oplnlon In our opinion, St. James's Place Chorltable Foundation's flnanclol statemgnts (the 'Yinancial statements. give a true and fair view of the state of the choritoble company's affairs as at 31 December 2022 ond ol its incoming resources and application of resources, including its income and expenditure, and cosh flows, for the yeor then ended,. have been properly prepared in occordonce with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standords, including FRS 102 "The Financial Reporting Standard applicoble In the UK and Republic ot Ireland-, and applicable law),. ond have been prepared in occordonce wth the requlrements of the Companies Act 2006. We have audited the financial stotements, included within the Annual Report (the "Annual Report"), which comprise.. the balance sheet as at 31 December 2022; statement ol the financial activities (incorporating on income and expendlture account), and cash flow statement for the year then ended,. and the notes to the finunclal statements, whlch include a description of significant accounting pollcles. Basls for oplnlon Wa conducted our audit in accordance with International Standttrds on Auditing (UK) ('ISAs (UK)") and applicable law. Our responsibilities under ISAS (UK) ore further describ8d In the Auditors, responsibilities for the audit of the financlal statements sectlon ol our report. We believe that the audit evidence we hove obtoinèd Is sufficient and approprlate to provido a basis for our opinion. Indopgndanc• We remoined independent of the charitable company In accordonce with the ethicol requirements that are relevant to our oudit of the financial statements in the UK, which includes the FRC'S Ethical Standord and we have fulfilled our other ethicol responsibilities in accordance with these requirements. Conclu$lons rolating to golng con¢ern Bosed on th8 work we have performed, we have not identified any material uncertainties relating to events or conditions that, individuolly or collectively, may cast significant doubt on the choritable company's ability to continue as a golng concern for a period of at least twelve months from the date on whlch the financial statements are outhorlsed tor issug. In auditing the financial statements, we have concluded that the trustees, use of the golng concern basls of accounting in the preparation of the financial statements is appropriate. Howevor, bgcause not all future events or conditlons can be predicted, this conclusion Is not a guorantoe os to the charitable compony's obility to continue as a golng concern. Our responsibilities and th8 responsibilities of the trustees with respect to golng concern are doscrib8d in the ielevant se¢tions of this report.

ST. JAMES'S PLACE CHARITABLE FOUNDATION Annual Repoit foi. Ihe year ended 31 Decembei. 2022 Independent oudltors. report lo the membor8 ol St. James'$ Place Charltable Foundation contlnued Reportlng on other Informatlon Tho other information comprises all of the information in the Annual Report other than the flnoncial statements and ovr auditors, report thereon. The trustees are responsible lor the other information. Our opinion on the financial statements does not cover the other Information and, accordingly, we do not express an audit oplnion or, except to the exter)t otherwise explicitly stated in this report, any form ol ossurance thereon. In connectlon with our oudit of the financial statements, our responsibility is to read the other information and, in doing so, conslder whether the other information is materially inconsistgnt with the financial stotements or our knowledge obtained in the audiL or otherwise appears to be materlally misstated. If we identify an apparent material inconslstency OT material misstatement, we are requlred to perform procedures to conclude whether there is a material misstatement of the financial statements or a moterial misstatement of the other information. 11, based on the work we hove performed, we conclude thctt there is a mateiial mlsstatement of this other Informotion, we are requlred to report that fact. We have nothing to report bosed on these responsibilities. With respect to the Trustees Annual Report, we also considered whether the disclosures requlred by the UK Companles Act 2006 and Charities Act 2011 have been included. Based on our work undertaken in the course of the oudit, the Companies Act 2006 requlres us also to r8port certoln opinions and matters us described below. Trustees. Annual Report In our opinion, based on the work undertaken in the course of the audit the information given in the Trustees, Annual Report lor the period ended 31 December 2022 is consistent with the finoncial statements and has been prepared in accordcjnce with applicable legal requirements. In light of the knowledge and understanding of the charitable company and its environment obtained in the course ol the audit, we did not identSfy any material misstatements in the Trustees, Annuol Report. Re8ponslbllitles for the flnunclal stotemenl$ and the audit Re8ponslbllltles ol the Trustees lor the financial slatements As explained more fully in the Statement of Trustees, Responsibilities, the trustggs (who are also the directors ol the charitable company for the purposes ot company law) are responsible for the preparatlon of the financial statements in accordance with the applicable framework and for being satisfied that they give a true and fair view. The trustees are also responsible for such Snternal control as they determine is necessary to enable tha preporation ol financlal statements that are free from material misstatemant, whether due to froud or error. 12

ST. JAMES'S PLACE CHARITABLE FOUNDATION

Annual Report for the year ended 31 December 2022

Independent auditors' report to the members of St. James's Place Charitable Foundation continued

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the charitable company and its industry/environment, we identified that the principal risks of non-compliance with laws and regulations related to the Charities Act 2011, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journals to manipulate financial results or conceal the misappropriation of assets and potential management bias in accounting estimates. Audit procedures performed by the engagement team included:

13

ST. JAMES'S PLACE CHAIUTABLE FOUNDATION Annual Repoit foi. the year ended 31 December 2022 Independent audltors. veport to the members of St. James's Ploce Chorltable Foundatlon contlnued rhere are inherent limitations In the audit proceduros described obove. We ore less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in financial statements. Also, the risk of not detectlng o materlal misstatement due to fraud is higher than the risk of not detecting one rosulting from error, as fraud may involve deliberate concealment by, lor example, forgery or intentional misrepresentotions or through collusion. A further description of our responsibilities for the oudit of the financial statements is located on the FRC'S website at.. www.frc.org.uklauditorsresponsibilities. This description forms part of our ouditors, report. Use ot this reP￿t This repoit, including the opinions, hos been prepared for and only for the charltable company's members as a body in accordance with Chapter 3 of Part16 of the Companies Act 2006 and foi no other purpose. We do noL In giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands It may come save where expressly agreed by our prior consent in writing. othw requlred reportlng Compunles Act 2006 exception reportlng Under the Companies Act 2006 we ore required to report to you if, in our opinion.. we have not obtained oll the information and explanations wg require lor our audiL or adgquate accounting records have not been kept or returns adequatefor our audit have not been received from branches not visited by us,. or certain disclosures of Trustees, remuneration specified by law are not made,. or the charitable company financiol statements are not in agreement with the accounting records and returns. We have no exceptions to report arising from this responsibility. Entitlement to exemptions Under the Comwnies Act 2006 we ore required to report to you if, in our opinion, the tTUStees were not entitled to.. prepare financial statements in accordan￿ wth the small companles, regime,. take advantage of the small companles exemption from preparlng a Strateglc Report. We have no exceptions to report orising from this responsibility. Jamie Smith (Senior Statutory Auditor lor und on behaltof Prlcewaterhousecoopers LIP Chartered Accountants and StatutoryAuditors Brlstol 13 July 2013 14

ST. JAMES'S PLACE CHARITABLE FOUNDATION Annual Report for the year ended 31 December 2022 Stalement of the Flnancial Activltles for the year ended 31 December 2022 Company no: 78192701 Charltyno: 1144606 Unrestrlcted Restrlcted Funds Funds 2022 2022 Total Fund8 2022 Total Funds 2021 Note Ineome trom Voluntory In¢om8 Investm8nt Income Olhar Incoming resourcos Company mot¢hing Total 4,981,548 84.116 803,198 5,784.746 4,809,032 84.118 15 5,358,490 10,424,154 5,358,490 71.227,352 3.784,630 8,573,677 803,198 Resources axpendèd Expenditure on ralslng funds Choritoblè octivities- grant mtsking Total resources expend8d 186,015 9,717.745 9.903.760 186,015 120,247 10,669.752 6,640,669 10.855.787 6,760,916 952,007 952.007 N¢tlneome/(Expendlturé) lortho Year 520.394 {148,800) 371,585 1,812,761 Rseonelllatlon ol fund$ Fund balances brought forward at I January Fund balances carrled forward at 31 December 5,869,161 241.880 6,111.021 4,298,260 6,389.555 93.051 6.482.606 6.111,021 The full ar)alysis ofthe prloryear income and expenditure bgtween unrestricted ond restricted Income can be found in Note15. The statement incorporates the Income and Expenditure account. All recognised gains ond losses have been included in the Statement of Financiol Activlties ond the amounts included ore derived from the continuing octlvitles of SL James's Place Charitable Foundation. The notes on poges 18 to 28 form port of these flnancial statements.

ST. JAMES'S PLACE CHARITABLE FOUNDATION Annual Report for the year ended 31 December 2022 Balance sheet at 31 December 2022 Company no: 78192701 Churlty no: 1744606 Note 2022 2021 Cuffent Assets D&btors Investments.. Unrestricted funds Restricted funds Cosh at bank and cash equivalents Total current assets 287,744 5,376,715 93,051 1117 792 865,129 4,657,920 241,860 6,875,302 6,526,352 Liabilities Creditors.. amounts falling due wthin one year Net assels 12 The funds ol the Charity Restricted income funds Unrestricted income hjnds 93,051 241,860 69 Total Charlty funds The financial statements on pages15 to 28 were approved by the Trustees on13 July 2023 and signed on its behalf by. Andrew Croft Chair ol Trustee$ The notes on pages 18 to 28 form part of these firTrancial stotements. 16

ST. JAMES'S PLACE CHARITABLE FOUNDATION Aiinual Report for the yeai. ended 31 Dccember 2022 Cosh Flow Statement for the ygar endgd 31 Dacembar 2022 Company no: 78192701 Charlty no: 1144606 2022 2021 Reconciliotlon of net In¢omo to net cush generated Irom operating activitios: Net Income 371,585 1,812,761 Adjustments tor.. Investment income (84,116) (15) Add.. Decrease increase) in debtors (Decrease) in creditors Nel cash generated from operutlng actlvltles 577,385 (22,635) 842.219 (561,788) {174,072) 1,076,886 statement ol cash flows: Cash flows from operating activities.. Cosh flows from Investment uctlvities 842,219 1,076,886 Investment income Purchase of Investment assets 84,116 (6,423,694) (3,680,014) 5,853,708 2,350,000 (485.870) (1,329,999) 358.349 {253,113) 15 Sales of investment assets Net cush usedln Inve$tment actlvltles Net overall cash Inllow Cush & cash equivalents: At bank and In hand l January At bank and in hand 31 December 761,443 1,014,556 761,443 (253,113) 1,117,792 Change In cash & cash equivulents 356.349 Analysls ol change3 In net lunds: At l Jan Cash flows 2022 At 31 Dèc 2022 Cashat bank 761,443 356,349 1,117,792 17

ST. JAMES'S PLACE CHARITABLE FOUNDATION Annual Report foi. the year ended 31 December 2022 Note8 to tho Flnanclal Statements forthe year endlng 31 December 2022 Accountlng Pollcles Bo$ls of preparatlon The financial stot8ments have been prepared under the historical cost convention, on a going concern basis, and in accordance with applicable Unit8d Kingdom Accounting stondards. The financial statements have been prepared in accordance with the Statement ol Recommended Practice Accounting and Reporting by Chorities, FRS 102 ond in accordance with the Companles Act 2006 and tho Charities Act 2011, uslng consistently applied occounting pollcSes. Company status st. James's Place Charitable Foundation is a company, registered England & Wales, limited by guarantee not having o share capital. The liability of the members is limited by the Articles of Association to £1 each. St. James's Place Charitable Foundation is a public benefit entity. The Company's functional and presentation currency Is pound sterling. The porticvlar occounting policies adopted, whlch have been opplied consistently through the current and prior financial year, are descrlbed below. Incomo Covenant income, fundralslng events and investment income are accounted for on o receivoble basis. Gilt Aid contributions include tox recoverable from HMRC. Investment income represents returns on money market fund accounts and cash at bank. Company matching represents income received from St. James's Place plc which generolly matches pound foT pound subject to Certain restrictions ond l or promotions on all income received by the Charitable Foundation. The amount is therefore determined by the amounts raised from covenants, fundraising activities (less ony assoclated costs) and donations received. Funds Accounting The Choritoble Foundation holds both restricted and unrestricted funds. Income raisod by individuals to support a specific charity other than the Choritable Foundation are reported as Restricted Funds. By their nature, Restricted Funds received are numorous but small in value, and are only held for a short period of time, until paid over to their nominated charity. 18

ST. JAMES'S PLACE CHARITABL￿ FOUNDATION Annual R¢port for the year ended 31 December 2022 Notes to the Flnanciol Statemen18 for theyeor endlng 31 Decembgr 2022 contlnued Note l. Accountlng Poli¢Aes - contlnued All other income is shown in the unrestricted fund and Is ovailable for use at the discretion of the Trustees in furtherance of the general objectives of the Charitable Foundotion. The Charitablg Foundation aim to have a posltive balanced pos6tlon b&tween thé Funds held and the Contingent Liabilitles lor futurg gronts. Finunelal Instruments Financial instruments are recognised and occounted for under FRS IOZ sections11 and 12. Invgstments Investments refer to holdings of high quality, highty liquld Money Market funds. Investments are held at lair value Cash and cash equivalenls Cash and cash equivalents include cash at bank and in hond, excluding money market investments, which are represented within Investments and are held at fair value. Donated servlces Donated services include employee and other administration support costs provided by St. Jamgs's Place Managgment Services Limited ("SJPMS'). They are occounted lor within Note 2 'Donoted services stolf & support,. The valuation basis is the actual costs that are incurr9d by SJPMS. The PricewottsrhouseCoop8rs LLP audit fees are donated services. Expondlturo Grants payable Grants are rgcognised in the financial statements when approved by the Trustees, and the charitles have fulfilled thelr obligations for payment to be made. otherexpendlture Expenditure is recognised on an accruols basis as the liability is incurred. Costs of generating voluntary income are incidental costs incurred in fundraising events together with Lottery winnings and bank chorges. Choritable activltles include all grants made in the year and grants over one year, together with support costs including expenses. Taxatlon The Charitoble Foundation has no Ilabilityfor corporotlon tax due to its charltuble stotus. There have been no non-charitable activitles in the yeor and no provision lor taxatlon Is considered necessary. SL Jomes's Plac8 Charitable Foundation is able to recover income tax deducted at source. 19

ST. JAMES'S PLACEI CHARITABLE FOUNDATION Annual Report for the year ended 31 December 2022 Not•s to the Flnancial Statements for the year ondlng 31 December 2022¢ontlnued Voluntary Income 2022 2022 2022 2021 2021 2021 UnYg$tricted Restrlcted funds funds Total Uniestricted Restricted funds funds Total Covenant Incomè ,663.337 ,663.337 1,680,198 1,680.198 Glft Aid contributions Donations 396,257 396,257 341,892 341,892 289.506 9,500 289.506 9,500 154,285 9,500 154,285 9,500 Donated services audit fea Donated servlces staff & support costs Fundroising events 546.794 546.794 441,975 441,975 2.076.154 803.198 2.879.352 1,614,089 567,093 1181,182 4,981,548 803.198 5,784,746 4,241,939 567,093 4,809,032 Expendlture of ralsing lunds 2022 2022 2022 2021 Unrestrlcted Rgstricted funds lunds 2021 2021 Vnrostrlcted Rostrlctgd lunds funds Tolal Total Costs of lundraising events 185,809 185,809 120,212 120,212 Bank chorges 206 206 35 35 186.015 186.015 120,247 120,247 The Charitable Foundatlon does not use professlonol fundraisers or involve commercial participators. There have been no complalnts about fundraising octivity during the year (2021: Non8 20

ST. JAMES'S PLAC￿ CHARITABLE FOUNDATION Annual Report foi. thc year ended 31 Deceinber 2022 Notes to the Financlal Stotèmants tor the yoar endlng 31 D¢cèmb8r 2022 contlnued Chaiitable activltle$- grant maklng 2022 2022 2022 2021 2021 2021 Unroslriclod Restricted lunds lunds Total Unrestricted Restricted funds funds Total Grants poyable In the year Support costs 9.161.451 952.007 10.113,458 5,685,053 504,141 6,189,194 556,294 556,294 451,475 451A75 9,717,745 952.007 10.669.752 6,136,528 504,141 6,640,669 The Charitable Foundation continue to focus grants to small or medium size charities working in the following key areas.. Children and young people who are disadvantaged or have a dlsablllty Hospices Mental health Cancer support Armed Forces Veterans All grants in 2022 were made to charitable institutlons. Further information regardlng grants mode by the Charitable Foundation can be found on its web site.. foundotion.co.uk The following are those organisations where the Charitable Foundation mode grant payments of £150,000 or greater during the year. Hope & Homes Dlsasters Emergency Committee Hospice UK Panathlon Foundation The Onside Foundation Britlsh Red Cross Onside Youth Services Supporting Nepal's Children National Stor Foundation Sebastian's Action Trust 813,683 597,648 550,000 420,000 400,000 410,879 250,000 234,579 199,684 150,000 21

ST. JAMES'S PLAC￿ CHARITABLE FOUNDATION Annual Report for the yeai. ended 31 December 2022 Nole$ to the Flnanclal Statement8 for Ihe year endlng 31 December 2022 continued Charftable a¢tlvltle8- grant maklng (contlnued) Support costs 2022 2021 Audit fee 9.500 9,500 Travel 7.466 1,674 staff costs (Note 5) Consultancy & Other 384,731 344,669 95,632 154.597 556.294 451,475 The auditors are appointed on an honorary basls. The volue of tha oudlt has been included in Incoming Resources as a donated service and as Audlt fee In Support Costs. Tru$tg0s and omployee Informatlon The Trustees were not paid during the yoar (2021.. £nll) and no Trustee received any emolument or payment for protessionol or other services (2021.. £nil). The Charitable Foundatlon employs no staff directly (2021.. nonel. SJPMS employs 8 staff (2021.. 8) who provide dedicated support for the day-to-day operations of the Charitable Foundation. All employee costs are met by SJPMS. The number of employees (including key management personnel) whose total remuneratlon for the year fell within each band ol £10,000 from £60,000 upwards was.. 2022 2021 £70,000-£80,000 £80,000-£90,000 The (Jggregote poyroll Cost of these employees wos os follows.. 2022 2021 Wages and salaries Social security costs Pension costs 322.186 278,903 33,374 29.171 30,067 31,257 Temporary Stalf Costs 4,442 384,731 344,669 22

ST. JAMES'S PLACE CHARITABLE FOUNDATION Annual Report for the ycai. ended 31 Decembei. 2022 Notes to the Financial Statements for the year endlng 31 Docombèr 2022 contlnued Trustees undemployee Inlormotlon (contlnued) The oggrogate payroll cost includes totol poyroll costs of £96,260 (2021.. £77,704) made to key management personnel. The Charitable Foundation Is not the employing company tor these staff ond therefore, no further pension disclosures or share based payment disclosures have been included in these financial statements Debtors 2022 2021 Amounts duè from SJPMS 94,934 798,876 Prepayments and occrued income 192.810 66,253 287.744 865,129 Investments 2022 2021 Unrostrictgd Goldman Sachs GBP Liquld Reserves BlockRock ICS GBP LEAF Premier 4.870.168 506.547 4,157,922 499,998 5.376.715 4,657,920 R•$trl¢ted Goldman Sochs GBP Liquid Reserves 93,051 241,860 5,469,766 Goldman Sochs investments are same day access, money market collectlve Investment schgmgs. BlackRock investments are held on three monthly fixed term duratlons. 4,899,780 Credilors: amountsfalllng duewlihln one yeur 2022 2021 Grant payments dLte Accrvals and deferred income 372,696 413,331 2,000 20,000 392.696 415,331 23

ST. JAMES'S PLACE CHARITABLE FOUNDATION Annual Repoit foi- the year ended 31 Decembei. 2022 Notes to the Financial Statemenls for the year ending 31 December 2022 continued Conilngont Llabllltles 2022 2021 Amounts falling due within one year.. gronts payable Amounts falling due after more than one year grants payable 2.303.448 3,709,969 2.064,113 1,702,711 4.367.561 5,412,680 All of the above meet the definltion of contingent liabilities os each grant recipient must meet conditlons sot by the Chorituble Foundation in order to receive the grant funding. No constructive obllgations exist. Thère ore no legal arrang8ments ielaling to ony ol the contingent liabilities dètailed obove. No security is provided in relation to any of the contingent liabilities detailed above. Nonè of the contlngent liabilities above relate to capital projects. io. Flnanclol Rlsk Exposure to the following risks lor the Charltys flnaneial assets Is analysed separotely In the following sections,. credit risk,. liquidity risk; market risk., and currency risk. Cradlt rlsk arlses from holdlngs of Investments, debtors and, cash and cash equivalents, wlth banks and flnanclal Instltutlons. Rlsk i) Charltable Foundation's Investments and, cash and cash equivalents Description Loss of assets or reduction in value Management The Charitable Foundation funds are predominontly invested in A rated money morkot funds, which are classified os investments. Cash and cash equivalents are operoting monies held with approved banks, 2) Debtors Risk counterparty does not pay omount due. Risk counterporty does not honour prepayment of goods or services Prepoyments are ol low value and closely monitored by management. Balance held by SJPMS are settled monthly 24

ST. JAMES'S PLACE CHARITABLE FOUNDATION Annual Report for thc year cnded 31 December 2022 Note8 to tho Flnanclal Statam8nt8 for tha yaar andlng 31 Decembèr 2022 contlnued io. FlnuncknlRlsk (contlnued) Thevolue of investments and, cash ond cosh equivalents ot 31 December 2022 was £6,587,558 (2021 £5,661,223). Llquldliy rlsk Is the risk that the Charitable Foundatlon, although solvent, elther does not hove available sufficient liquld financial resources to enable it to meet its obligatlons as they fall due or can secure such resources only at excessive cost. Risk Descriptlon A slgnlflcant cash or expense requirement needs to be met ot short notice Mano ement Investments, Cash or expense requirement The Charitable Foundotion funds are predominantly invested in A roted money market funds, which are clossified as investments. Cash and cash equivalents ore operating monies held with approved banks. Cash flows are prepared at regular intervals to ensure adequate cash is held to meet all upcoming liabilities. The Charitable Foundations holds investments and, cash or cash equivalgnt short-term access deposits 01 £6,587,558 (2021- £5,661,223). Market rlsk is the Impact a foll In the value of Investments or other assets may have on the Choritable Foundotion. Risk Monagement Charltoble The Charltable FoLtndatlon lunds are Foundation's predomlnantly Invested In A roted money investments market funds, whlch ore closslfied os and, cash and Investments. Cosh and cash equivalents cash ure operating monies held with approved equivalents banks. rhe Charitable Foundation has investments and, cash and cosh equivolents exposed to interest rate Iluctuations of £6,587,558 (2021 £5,661,223), earning Interest of £84,118 (2021 £15). Description Loss of ossets or rgductlon In volue Currency rlsk: The Charitable Foundotion is not subject to any significant currency rlsk, as Its financial assets and Ilnancial liabllities are denominated In Sterling. The Charitable Foundotlon does not hold any assets in foreign currencies. 25

ST. JAMES'S PLACE CHARITABLE FOUNDATION Annual Report for the year ended 31 December 2022 Mote$ to the Financial Statement$ lor the year endlng 31 December 2022 contlnued io. Financial Risk(¢ontsnued) Calegorles ol financlal assets and flnancial liubllities The linonciol assets and financial liabilities of the Charitable Foundation ore measured at omortised cost. The corrying values of the Charitable Foundations financial assets and liabilities In thè Company's Balance sheet are summarised below.. 2022 2021 Financigl osset$ Investments Cash and cash equivalgnts Debtors 5,489,766 1,117,792 287,744 4,899,780 781,443 865,129 Total financial assets 6,875,302 8,526.352 Flnanclal Ilabilltlos Creditors 392,696 392,696 The Choritable Foundation's financial assets are receivable on demand. 415,331 415.331 Total finoncial liabilities Sensltlvlty analysis lo market risks Cash is denominated in Sterling and held in money market funds ond banklng 5nstltutlons. Due to the low volatility and shoit-term nature of these investments, changes In Interest rates wlll not have a material impact on the value of these investments. Similarly. due to their nature, other flnaneial assets and liabilities are not materially subjected to market risks. Therefore, movements In currency and interest rates al the reporting date will not have a material impact on the income and funds held. ii. Funds Unyestrlcted funds Restrlcted tunds Total Fund bolances at l January 2022 Income 5069,161 241,860 803,198 952,007 6,111,021 11,227,352 10,855,767 10,424,154 Expenditure Fund balances at 31 Decemb8r 2022 9,903,760 6.389.555 93.051 6.482.608 Restricted lunds ure those funds raised by donors who wish to donate to causes thè Charitable Foundation supports In which the donors have a particular interest. By their naturg, Restricted funds receivèd are numerous but small In value, and ale only held for a short period of time, until p(sid over to thelr nomlnated charlty. 26

ST. JAMEI S'S PLACE CHARITABLE FOUNDATION Annual Report for the year ended 31 December 2022 Notes to the financial Statoments lor the year gnding 31 Decgmber 2022 ¢ontinued 12. Analysis of net os$ots botwgon lunds Unrestricted funds Reslrlcted fund8 Total Fund balances at 31 December 2022 are represented by.. Current assets 6,782,251 (392,696) 93,051 6,875,302 (392,696) Current liabilities Fund balances at 31 December 2022 6.389.555 93.051 6.482.606 13. Related Part188 The followlng are related partles of the Charitable Foundatlon. Some ol the Trustees, Directors and key management personnel of the Charitable Foundatlon ore also Dlrectors or key personne5 of St. James's Place plc or other companles In the St. Jomes's Place Group. The only transactlons with such indlvlduals were donatlons and lundraising event cor)tributlons mode to the Charitable Foundation. The value of these donations and contributions were £75,976 (2021- £21,571). Remunerotion pald to TTUStees and key management personnel hove been disclosed in Note 5. St. James's Placg plc donotes to the Choritable Foundotion in the form of pound for pound matching, for certain donotions that are made by Partners, stofl and some other third parties to thecharitable Foundation. This is explained further in Note l. The amount donated by St. James's Place plc during the year was £5,358A90 (2021.. £3,764,630). The payment of the donations is facilitated through SJPMS, which also donates the costs ol the staff that administer the charity, as reported in Note 4 Support costs of £546,794 (2021= £441,975). 14. Guortsnteecompllnyand Caplial The Charitoble Foundation Is a compariy Ilmlted by guarantee not havlng share capltal. The liobility of the members is limited by the Memorandum of Associatlon to £1 each. The sole member and guorantor for the Chorltable Foundatlon Is St. James's Pl0￿ plc. This Is unchanged Irom 2021. The Charitablg Foundation does not have ony share capital. The Company thgrafore looks to its Unrestricted Funds to ensure it can meet its liabilities ond obligations. The Trustees review the Funds and the Financial assets and finoncial liabilities on a monthly bosis. 27

ST. JAMES'S PLACE CHARITABLE FOUNDATION Annual Repoit for the yeai. ended 31 December 2022 Notes to the Flnanclal Statamonls for Ihgyear endlng 31 December 2022 contlnued 15. Prlor y601 tsnulysls of unrostrlcted and rastrlcted Income ond expendlturo Unrestricted Re$tri¢ted Note Fund$ 2021 Funds 2021 Total Funds 2021 Incomg from Voluntory Income Investment Income 4,241,939 15 3.764,630 8.006.584 567,093 4,809,032 15 Company matching Total 3,764,630 8.573.677 567,093 Resource$ expended Cost of generating funds Costs of generating voluntary incomg Charitable activities grant making Total resources expended 120,247 120,247 6,136,528 8,256,775 504,141 6,640,669 504.141 6.760.916 Net (Expendlture)/in¢ome for the Year .749.809 62,952 1.811761 Roconclllatlon ol lunds Fund bolances brought lorward at I January Fund balances carried forward at 31 Decgmber 178908 260 This Note forms an integral part of and should be read in conjunction with the Statement of the Financial Activities for the year ended 31 December 2022 on page15. 28