Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Conhdentrol UBS Optimus Foundation UK Annual Report and Financial Statements Company Limited by Guarantee Regisiratll Number 08608213 (Enoland and Walesl Charity Registration Number 1153537 13 Septerntr 2022
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Table of contents Section I Reports Legal ar administrative information Strategic rekxjrt". 3 1 Dember 202 1 Trustees, rerM)rt.' 31 December 2021 Statement of Tru5tee5' resronsil1tES'. 31 Dernber 2021 Indendent auditor's rewi." Year 10 31 December 2021 Seciion 2 Flnancial statements 17 Slaiement of Financial Attryities.. Year to 31 DeCeMr 2021 18 Balance sheet.. As at 31 December 2021 Statement of Cash FIow5.' Year erKled 31 December 2021 20 Principal accounting pol5.. Year ende(131 December 2021 Notes to the financial statements.. 31 DecemEer 2021 21 24
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Section 1 Reports
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Legal and administrative information Trustees l Directors Eva Lindholm (Chairl Vineet Bewtra Phyllis C05tanza Siobhan Mctk)nagh Ire5igned 31 January 20221 Edoardo Rulli Paul Vail Company Secretary Buzzacott Secretaries Dmited Registered Office 5 Broa(ty3te London EC2M 2QS Company Registration Number 08608213 (England and Wales) Charity Registration Number 1153537 Auditor Ernst & Young LLP 25 Churchill Place Lon(kJn E14 SEY Bankers UBS AG Lonth)n Bfanch 5 Broadgate London EC2M 2QS Investment Managers UBS AG L(l)n Branch 5 8roadgate London EC2M 2QS Solicitors Oaies Wells 10 Queen Street Ha London EC4R IBE
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Strategic report: 31 December 2021 Review of the business UBS Optimus Foundation UK (the 'Foundation' or the "Charity") was incorrM)rated as a charitable company on 12 july 2013 and is regisiered vvrth the Charity Commission. The Foundaiion is committed io the well-being of children In need around the world and supw)rts iniik3tive5 to improve their education, protertion, health and environment. The Foundation is part ol the global UBS Opiimus Foundation. It was the Trustees. belief that the combination of regulatory complexity and running cosis often prevenied money being given to charity. The Foundation was created to make it easier to give money to charities around the world and the strategy remains to further this aim. In pursuit ol the objectives atrK)ve. the principal achievements of the Foundation in 2021 are rain9 funds totalling £30.5m from (k)nors and granting £29.7m to around 50+ beneficiary organisations to carry out projects which further the Foundation's aims. FLJrther, the clInUed executK>n of the Foundation's strategy to leverage oll the existing Infrastructure and expert15e within UBS AG London Brah Ithe 'Member'l enables the Foundation to maintain a low cost base and locus its core principal actiwty ol making it easy lor donors to give to charities around the world. The UBS Optimu5 Foundation UK collaborate5 and is supported by a network of related organisation5 consisting of the U8S Optimus Foundation in Swiizerland, Its branch in Hon9 Kong, and the represeniative office in China, its sister organisations UBS Optimus Foundation DeutKhland. UBS Optimus Foundation India and UBS Optimus Foundation Singapore. as well as a donation platform In the United States. Rlsk management The major risks lo which the Foundation is exkxjsed. as identified by the Trusiees. have been reviewed and systems or procedure5 have been established to manage those risk5. R15ks are documented in a Risk Framework and Reg15ter which 15 revWed by the Trustees and the Member as an additional measure. This document 31so outline5 the systems, pr¢xedures and controls In place to manage those nsks This FraMOrk is reviewed by the Trustees at least once a year. The Foundation takes adwce from its solicitor5. Bates Wells. on any rnatters Identified by the Trusiees a5 requiring exiernal legal counsel. The Charity is in part reliant on UBS AG Lon(lon Branch, which is the sole Member of u8S Optimus Foundaiion UK and provides support. Including stafl and Infrastructure. We do not have any reason to believe there Is any risk In the continued support ol UBS AG London Branch. For further details ol the Charity's immeiliate controlling party and ultimate parent undertakirvJ, see note 14 to the accounts. The Trustees ol the Foundation have assessed the Impact of the United K1ngdorn's ¥Mthdrawal from the European Union I"Brexit"l and have considered the Implicaiions of Brexrt on the operations ol the Foundation. In this regard. the Trustees noted the oflKial departure on 31 january 2020 and the transition period ending 31 December 2020 with the future relationship beiween the United Kingdom and the European Union being further defined. The Tru5tee5 do not anticipate any impact ol Brexit on the operaticfj of the Charity and they will continue to monitor the Impact and take action as appropriate. The war in Ukrainè has led to one ol the largest humaniiarkin crises in decades, severe sanctirms Imsed by various governments on Russo and certain Ru55iJn entities and nationa15, a ffla5s exodu5 01 businesses from Russia, and heightened volatility across global markets. The long-term consequences are still difficult to assess, but there will likely be global ramrfications ihèt are feli lor some lime. The Trustees consider that there is no direct Impact of on the operation of the Charity and they will continue to monitor the Impact and take actK)n as appropriate. Key Identified r15ks Include.. Law and regulation risks Risk.. Breach ol charity law. company law. and regulatory requIreffnts of parttcular actNlties undertaken by the Charily. Miligation.. The Trustees are odw'sed specia115ts In aa5 of charrty law. company law and financial iegulation. Governance framework Risk.. Inappropriale organisational structure and conflicts ol interest.
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Strategic report: 31 December 2021 Mitigation.. The Trustees follow best prathce and take advice on the organisational structure. A register of Interests is maintained by the Company Secretary. Operational risks Risk. Fraud and MIppropriation ol assets andlor cash. Mitigate risk.. The operation of the Charity and Ils donors. accounts are Subject to the same anti-fraud contro15 as all other accounts managed by the Member and are subjert to both external and internal audit. Financial risks Risk.. Accuracy and timeliness of financial inlormation. adequaq ol resetves and G)sh Ilow, diversity of Income sources and investment managemeni. Mitigation.. Donors are aware of the liquidity and risk profile of their investments and receive regular statement5 Informing them of the current asset value and the risks piofile of those investments. The Foundation's financial information is subject lo annual external audit. Programme-related investments IPRI) Risk,, Intended outcomes may not be achieved. Mitigation.. The me risk applies to granis. This risk is mitigated through a thorough due diligence process on loan recipients Iwhich Includes a review ol the borrower's Strate9y and the project the PRI loan will support, finances, governance and social impèctl. which is documented in the PRI Due Dili9ence Form. Risk.. 8orrowers may default on their loan. Mitigation.. Trustees consider all the relevant iswes and take athice where appropriate, and reach a reasonable decision In regard to enforcement. Effect of Coronavirus During the year 202110 the date that Ihe Financial Slalements were approved. the coronavirus disease 2019 ICOVID-191 outbreak had spread globally and cavsed extensive disruptions to businesses as well 3$ economic ctivities globally with no exception lor the UK. We have considered the eflects ol COVID.19 on the Charity's cyerations and have concluded that the impact on il Is likely to be limited. Following the advice issued by the UK Government regarding employee5 working from home and other social distancing measLJres, we have enacted procedures to lacilitate this and have a detailed plan that enables effective operation to continue whi15t employees are not phySKa1 present in the Foundation's offices. We do not foresee this having an Impact on the entity's abil to continue as a going concern a5 the Foundation's Immediate conirolling party, Its sole Member. has suffKient financial resources to commit to providing additional funding In the event that it 15 required to fund the Foundation's continuing operations. In terms of continuity ol business operations. UBS Optimus Foundation UK Is included in the Business Continuity Strategy of UBS AG. With regard to fundraising. UBS Opiimus Foundation UK has several long-term strategic streams ol funding. Therefore, the Foundation expe(ts to be able to continue normal operations through working from home for as long a period as may be advised.
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Strategic report: 31 December 2021 Future plans The priorities for the Foundation for 2022 and beyond are to conlinue to build the portfolio of high quality. strategic programmes funded for the ber)efit of society globally, in the areas of health, education, child protection and environment as well as emergency resrK)nse and social finance. The Foundation also seeks to oller innovative solutions for solving some of the world's most pressing problems, including development impact bond5 and programme- related investment oprK)rtunilies. As the Foundation looks to 2022 and beyond, it will increasingty seek to work in collaboration and partnership in order to maximise impact. The Foundation believes In philanihropy working together as a driver of change and is committed to harnes51ng the tx)wer ol iollective partnerships with philanthropists. organisations and governments. As the Foundation looks to 2022 and beyond. it will increasingty seek to work in collaboration and partnership in order to Tllaximise impact. The Foundation believes in philanthropists working together as a driver ol change and 15 committed to harnessing the power ol collective partnerships with philanthropists, organisations and governments. In 2021. the Foundation launched the CollectNes in partnership with U85. Bringing together philanthropists. best- In-class non-profit or9anisations. s131 enterprises and experts, lo drive collertive impact by developing sustainable philanthropic solutions that caialyse social and environmenial change. UBS clients who become Collective members embark on a philanthropic strategy and leadership programme, anii develop expertise In strategic, high-impact philanthropic solutions working towards systems change across a range of Issues. To date, Collective members have pledged more than USD 20 million towards three collective impact programs run by the Foundation. The Collectives have been very well recewed by partners and UBS clients, and the Foundation plans to continue and expand ihe initiative. The objective is to ultimately increase impart.. strengthen philanthropist's understanding of strategic philanthropy and systems change, and allow philanthropists to build their krledge, confidence. network and philanthropic leadership skills, Approved by the Trustees and gned on their behalf by.. Trustee name.. Eva Lindholm Signature.. Dale.. 2610912022
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Trustees, report: 31 December 2021 The Trustees Iwho are the directors ol ihe company lor the purpose of the Companies Act) present their annual report Incorporating the strategic repL>rt and aud1ted financial 5talements ol UB5 Optitnu5 Foundation UK 1.the Foundation") lor the year ended 31 December 2021. The report has been prepared in accordance with Part 8 of the Charities Act 2011. In preparing the report in luture year5, con51deration will be gwen lo the Charitie5 Act 2022. The financial statements have been Pfepared in accordance wth the accounting rx)licies set out on pages 21 to 23 of the attached financial atements and comply with the charitabse Foundation's Memorandum and Article5 of Association, Companies Act 201. the Charities Act 20113nd Accounting and Reportin9 by Charities. statement ol Recommended Practice ISORPI applicable to charities Pfeparing their accounts In accordance with the Financial Reporting Standard applKable in the United KingdoJn and Republic ol Ireland IFRS 1021. Aim5 and objectives The objects ol ihe Foundation as Set out in the ArtKle5 01 AsscKiation are.. to promote the health of children by (without Iimiiationl preventing abuse an¢J supporting the e1ry of medical and other essential services to them., the prevention and relief ol poverty by (without limitation) the prov1510n ol education to support the healthy development of children., to relieve the needs of children who are In need due io their youth, sickness or financial hardship. and ony other purposes as are regardetl a5 exclusivety charitable under the law ol England and Wales as the Trustees may frorn time to time see fil. The Foundation aim5 to Source and lund high Impact prograrnme5 delivering Improved outcomes lor vulnerabte children In the areas of health, edUcat)n and pfotertion In furtherance of the charitsble objects. The Foundatwjn seeks out partr5 that are transparent, accountable and well managed, and programmes which are based on robust evidence, Uillin9 innovaiions which may be replicable and potentially game changing. Programme5 are 5ethed lollowng o rigorous application prcKe5s Involving external review, and all work funded by the Foundation 15 subiert to an external evaluation. Since 2020. the FOundatn IuSe$ also on environmentsl prcgrammes. In addition, the Foundation aims to connect UBS AG cl*ntS ¥Mth the Foundation's pro1t5 in order to raise additional funding lor and leverage the potential social Impact lor these prqects benelitting benelicianes. The key artivities ol the Foundation in 2021 in pursuit ol publK benefit have trn.. Grant maklng and crlteria for fundlng The principal aim lor the Foundation is lo make direa gfonts 10 PfO9rammes wiihin ihe Foundation'5 charitsble objects or to make grants to UBS Oplimus Foundation In Switzertand to disburse to projects within the FoLJndalion'5 chèritable objects. In the case ol direct grant5. the Foundation works wth UBS Optimus FoundatK>n In Switzerland lo source and assess effective and appropriate prograrnmes for direct funding whiih further the Foundation's aims. In addition, UBS Optimus Foundation in Switzerland will support wilh the relevant due diligence checks on potential grantees including any collaiK)rating partners and TrMII a150 prowse engaging wogramn5 for the Foundation's Tru5tee5 to approve at their d15CTetion. The number ol prqects which can be supported Is. of necessity. limited to the amotjnt of fund5 available for distribution in any year. The Trustee5 have determined that the priorities for lunding over the next five years will be based on.. Thematic priority.. education, public health. nutriti. the redu(tion ol vL)lence against children. environment and any other purSeS as are regarded as eXCluelY charitable under the I of England and Wales as ihe Trustees rnay from time to time see lit., S(Kial finance.. the furtherbng of the de¥ebpment of financing mtyhansms incwse efficiency and irnpatt- Collaborative working". the Foundation 5trongty encourage5 application5 Ihal Involve partnership5 between organ15ations of different d15ciplines. and between nOnOVernMental organisatK)n5 and universitie5 or other research institutK)ns.
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Trustees, report: 31 December 2021 Applications for funding will be assessed by a panel ol experts according to the specific criteria noted below.. Topic relevance and responsivene55- doe5 the proposal address a key need relevant to the Foundation's objects. priorities andlor a specilic Request for Prorx)sals IRFPI?- Innovative, state-of-the art approa(h- does the proposal provide "out-of-the-tx)x- thinking to link education, health and/or violence prevention. and wll findings advance the field?. Feasibility- are the goals and milestones clearly defined and achievable,. is there a clear and logical organi5ational structure to carry out the work?" Scale-LJP and replication- is there potential to scale up with a clear path for luriher support le.g. preliminary data that can be used to develop a project proposal to the UBS OptlmU5 Foundation or other fundersl?. Generating evidence- is there potential for measuroble outcomes and is there a robust plan for monitoring and evaluation? Trustees approve all grants supported by the Foundation. Graniees are expected to report on a bi-annual b3si$ against key performance indicators and milestones agreed in the approved application. The Foundation may also make programme-felaled investments Isee ' Charities and investment matters.. a guide for Trustees.). Additional consideration5 appty to such Inve5tmenis. as outlined in the full grant making policy. In 2017, a programme-related Investment loan was transacted to Hope and Hornes, for £1.44m. Hope and Home5 works to remove children from harmful orphanage environments ènd place them with a loving, nurturing family. The loan 15 invested in the organisation'5 core growth strategy In pur5UIt of sustainably achieving scale. Following a restructure of the PRI loan in january 2020. the loan Is now repayable in instalments, with the final payment date being 30 June 2030 Ipreviously 30 June 20221. The principal amount of the loan oulstanding carries interest al a rate 012%, accruing daily. Interest is payable on each annNersary of the date of drawdown until lune 2022 only. During 2018, a second loan was made lor an amount of $500,0001£394kl to Impact Water. The loan amount was drawn down on 30 july 2018 and has been given in order io provide sèle drinking water to schools by providing an Ifoidable package DI systems, maintenance and credit that improves children's health and their school performance. This loan Is repayable in full on the linol repaymeni date 30 july 2023. The principal amount ol the loan outstanding carries Interest at a rate of 5%, accruing daily. Interest Is payable on each anniversary ol the date ol drawdown and the linal repaymeni date. Relatedparties The principal funding source of the Foundation 15 UBS AG London Branch, the Member of the Foundation, which provides in kind support by way ol office space. support staff. IT and telephone. marketing, operations. finance. in- house legal support, and clients ol UBS AG who can rnake donations to programmes that have been assessed and selecied by the Foundation. UBS AG is committed io funding ihe Foundation's activities even though there is no formal agreement In place. Gifts In kind in the form ol donated services received from UBS AG London Branch that cannot be quantified with reasonable accuracy are not recognised by the Foundation. All other donated services are recogni5ed in these financial Siatements. A comprehensive Cooperation Agreement outlines how the Member and the Foundat10n work together. Activities and achievements In pursuit ol the aims and obieciives atrt)ve. the principal achievements of the Foundation in 2021 are.. Income from fundraising totalled £30,530,96412020.' £26.518.5661- an achievement on the fundraising target set for the year. This sum includes income lor the sixth offering of the innovaiive Global GNing Campaign Ifirst launched by the Foundation in 20141. Grants were pledged totalling £29.149,54712020'. £25.702.6191. Details of the recipient organisations granted to, along with the grant amounts are pre5enled in nole 3 lo the financial 5talement5. In the year, consultan(y fees amounting lo £365,15012020.' £54,610) were paid to several organisalion5, which are also detailed in note 3 to the financial statements.
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Trustees, report: 31 December 2021 Governance, structure and management Constitution UBS Optimus Foundation UK I'the Foundation-} is a regie charity (Charity number 11535371 with the Charity Commi5510n of England and Wales and a company limited by guarantee regisiered In England and Wales (Company number 086082 131 incorporated 12 luty 2013. Gcwernance is by a Board of Trusiees (the ' Board l and Memorandum and Articles dated 12 july 2013. Guarantor/Member The Guarantor and sole Member of the Foundation is UBS AG LoNknn Branch (the 'Member'l. In the event ol the Foundation being wound up, the liability ol ihe Member is Iimrted io £1. Trustees The Trustees constitute director5 of the FOundatn for the purrx)5es of company law and Trustees of the Charity for ihe purposes ol charity legislation. The Trusiees who held office during the year and after ihe year end, and their appointment and resignation dates if these occurred during that periLxi, were as follows.. Trustee Eva Lindholm (Chairl, Vineet Bewtra Phyllis Costanz Swjbhan McDonagh1 Edoardo Rulli, Paul Voil Note 1 Ernoyed ty U8S The Board (with the exception ol Paul Vail and Vineet 8ewtral are all UBS AG empbyees and all, including Paul Vail and Vineet Bewtro, were nominated and approved by the Member. The Foundation has indemnild oll Trustees In rested ol any liabilities properly incurred in running ihe Foundation to the extent permitted by the Companies Act. When recruiting new Truslees, the 8oard look lor Individua15 Wlth skills and experience which are ol value io the Foundation. Training Is arranged for all Trustees and all Trustees must sign a Trustee declaiation which slates that they understand their duties as a Trustee and have read the relevani conflict ol Interest polKies. The Board is responsible lor the ovefsight and governance which Includes pproval of all grants made by the FoundotK)n. The Trustees have delegated the reswnsibility fc the investmeni managemeni. cusicLly, and bookkeeping of the Foundation to the Member. The Member prowdes office space, support staff, IT. rnaTketing, operations, finance and In-house legal support to ihe FoundaiK)n_ AppOIntsent l Resi9n•ti Appointed 18 December 2017 Appointed I l Augusi 2020 Appointed 16 0ecemtr 2016 Appointed 13 De(emLEr 2018- Resigned 31 january 2022 AprK)Inted 13 Decemt*r 2018 Arvjinled 051)e(emr 2019 Key managementpern?nnel The key management personnd of the Foundaiion in charge of dire(ting. controlling, running and operating the charity comprise the Trusiees and the following siaff employed by UBS AG. which include bui are not limited io the Head of Philanthropy Services UK." a Business Management ieam." a Philanihropy Athisory team, and a Business Oevelopment team. These staff are employed by and remunerated by UBS AG. which is aÈo SrA)nsIble for setting their rernuneration. No charge is made by UBS AG for their SeI(e5. The Trustees receNe remrat)n of reimbursernent of expenses in connection with iheir dutEs as Trustees.
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Trustees, report: 31 December 2021 Financial review Statement of finanaalartivifre5 The Foundation received income of £30.642.80612020". £26.642.5841 in the form of £30.530.96412020". £26,518,566) cash donations, £59,76012020'. £52,120) gifted serwces from the Member, £4,05912020'. £23,760) Interest income from cash at bank and £46.59512020". £48.1391 of Income from programme-related Investments. Expenditure totalled £29.724,60712020'. £25,809.3491. of which £29,664.69712020'. E25,702,6191 was paid out as charitable grants, £365,15012020". £54,610) was expended lor consultancy lees and £59,76012020.' £52,120> Wa5 incurred as support and governance c05ts_ Total1055e5 of El 8.84712020." £350,4321 were recogni5ed as a result of foreign exchange. All of the Foundation's operating costs are paid by UBS AG. and are essentially unknown. Balance sheet The Foundation's balance sheet shows total fund5 of £9.064,854 at 31 December 2021 12020.. £8,165,501). £8,108,94412020.' £6,716,868) represents restricted funds held lor the purposes ol making grants and PRI. Unrestricted funds and free reserves total f 955.91012020". £1.448.6331. Investment policy The Trustee5 have not yet established a lormalised investment polio. This is considered a minor risk a5 at thi5 Stage the Foundation iniends 10 spend any Income it re(ewes directly on grants furthering its charitable mi55ion. This is reviewed periodically. Funds are currently held in cash in the Foundaiion'5 bank accounts. Reserves policy The Foundation currently has no formalised reseNes policy. This is due to the fact that the Member covers the costs ol the Foundation and that any additional funding is intended to be spent in its entirety on the projects to Improve the outcomes for children. There is no intention at this stage of holdin9 reserves. as these have not been deemed necessary to the functioning of the Foundation. This policy will be reviewed annually. Going concern The Foundation's activities. together wth the factor5 likely to affect Its future development. performance and position are set out within this report. The financial posilion of the Foundaiion Is reflected on the balance sheet. At 31 December 2021, unrestricted funds and free reserves totalled E955,91012020'. £1,448,633). The Trustees ol the Foundation have concluded that there are no material uncertainties related to events or condiiions that cast significant doubl on the ability of ihe Foundaiion io continue as a going concern. The Trustees are of the opinion that the Foundation will have sufficient resources to meet its liabilities as they fall due, as they believe thai UBS AG will continue to support the Foundation's activities. The Trusiees have 3 reasonable expectation that the Foundation has adequate resources to continue In operational existence for the foreseeable ILJture lor a period ol 12 months from the date ol these financial statements. For this reason, they continue to dopt the going concern bays In preparing the linancial staiements.
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Trustees, report: 31 December 2021 Disc105ure of information to the auditor SO far as each person who was a Trustee at the date of approwng this ieport is aware. Ihere is no relevant audit information, being information r)eeded by the auditor in connertion with preparing its report, of which the auditor is unaware. Having made enquiries ol fellow Trustees, each Trustee has taken all the steps that helshe is obliged to take a5 a Trustee in order to make himselflherself aware of any relevant audit information and to establish that the aLJditor is aware ol that information. Approved by the Trustees and ygned on their behalf by.. Trustee name.. Eva Lindholm Signature.. Dale.. 26109r2022
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Statement of Trustees, responsibilities: 31 December 2021 The Trustees Iwho are also direaors ol UBS Optimus FouNJaiion UK lor the purrK>ses of company lawl are responsible for preparing the Trustees. report. Strategic Teport and financial statements in accordance with applicable13w and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice and FRS 102 'The Financk)l Reporting Standard Applicab to the UK ond Republic of Ireland"). The law applicable to charities In England and Wales requires the Trustees to prepare financial statements for each financkil year which give a true and lair VIÉW ol the siaie of affairs of the charity and of the income and expenditure ol the charty lor ihat rI(J. In preparing these linancial statements, the Trustees are required to.. Selett 5uilable accounting polic5 and appfy them cons15tenlty.' Select suitable accounting policS and then apply them consisientty.. Observe the method5 and princip ol Accounting and Reporting by Charrtie5'. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard appliiable to the United Kingdom and Republic of Ireland IFRS 1021., Make judgement5 and estimates that are reasonable and pwdent.. State whether applicable Uniied Kingdom Accounting Standards have been followed. subject to any material departures disclosed and explaine(l in the linèncial statements." and Prepare the financial statemenis on the going concern bays unless it is inappropriate to presume that the charity will continue in opefation. The Trustees are responsible lor keeping proper accountiThJ re(ord5 that dwlose ¥Mth asOnable accuracy at any time the financial posltion ol ihe charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible lor safeguarding the assets ol the charity and hence for taking reasonable steps lor ihe prevention and delect1¢ of fraud and other irregularilies. Each of the Trustees confirms that.. So far as the Trustee is aware. Ihefe is no r*¥ant audit inforMatn ol which the charity's auditor is unawafe,. and The Trustee has iaken all the steps that helshe ought to have iaken as a Trustee in order to make himselflherself aware ol any relevant audit Information and to establish that the Charity's auditor is aware ol that Inforrnation. This confirmation is given and should interpreted in accordarKe wih ihe prtmsions of s418 of the Companies A(t 2006. Approved by the Trustees and signed on their behalf by.. Trustee name.. Eva Lindholm Signature.. Oate.. 2f10912022
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Independent auditor's report: Year to 31 December 2021 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF UBS OPTIMUS FOUNDATION UK Opinion We have audiied the linancial statements ol UBS Optimus FNJali0n UK (the 'charitsible company'l lor the year ended 31 DeCeber 202 1 which comprise the Staternersl ol Financ1 Activities, the Balance sheet, the Statement ol Cash Flow5. Principle accounting policies and the related notes 1 to 16. The Iinancial reporting framework that has been applied in their preparatK)n is appli(0b lèw and United Kingdom Accountin9 Standards (United Kingdom Generally Accepted Accounting PTactKel. Including Financial Reporting Standard 102 'The Financial Reporting Standard applKable In the UK and Republic of Irend. (United Kingdom General Accepted Accounting Practice). In our opinion the linancial 5tatemenls'. Give a true and fair view of the state of the tharitable company's aflairs as at 31 December 2021 and ol its Incorning resources and application of resource& including its Income and expenditure. for the year then ended,. Have been proper Prepared in accordance with United Kingdom Generalty Accepled Accounting Practice.. and Have been prepared in aC(danCe wrth the requifements of Companies Aa 2OJ6. Basis for opinion We conducted our au(iit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. OUT responsibilities under those standards are further described In the Auditor's resnsIbIlItieS for the audit of the financial siaiements section ol our report below We are independent ol the charitsble company in accordance with the ethical requirements that are revant to our audil of the financial statements In the UK, Including the FRC'S Ethical Standard, and we have fulfild our other ethical responsibilities In accordance with these requirements. We believe that the audit evidence we have ebiained is sufficient and appropriate to prcNide a basts for our opinion. Conclusions relating to going concern In aLJdiling the financial statements. we have concluded that th(* trustees. use of the g(Mng concern bas15 of accounting in the preparation of the linanck?I slatements LS apprcyiate. Based on the work we have performed. we have noi identified any material uncertainties relating to events or condlin$ that. individualty (y (tively. may cast 99nilt(ani dwbt on ihe charitable company's ability to continue as a going concern lor a perd 0112 months Irom when the financ1 statements are auihorised for 155ue. Our responsibilities and the responsibilities of the Irusiees th respect to tyiing concern are described in the relevant sections of th15 report. However, because not all future events or conditions can be predirted, this statement is not a guarantee as to the trustee's ability to continue as a going concern. Other information The other inforrnètion comprw the information includèd in the annual rerM)rt. other than the financial st3iemènts and our auditor's report thereon. The tsu5tee5 are responsible lor the other inlormabon contained In the annual report. Our opinion on the financial statements noi cover oiher inlofmaiion and. except to ihe extent otherwise explicitly stated In this report, we do not express any lorrn of assurance conclusion thereon. Our respK)nsibilrty Is to read the other inlormation and, in doing so, consider whether the other InfofmatKsn 15 materially Inconsistent with the financial statements or our knowledge obtained In the audii or otherwse appears to be materially fflis5tsted. If we identify Such materk31 Inc¢M51Stenoes or apparent rnaterial fflis5tatements. we are
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Independent auditor's report: Year to 31 December 2021 required to determine whether there Is a material misstatement In the financial statements themselves.11, based on the work we have performed, we conclude that there is a fflaterial misstatement of the other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matter prescribed by the Companies Act 2006 In c)ur opinion, based on the work (Jndertaken in the course of the audit." The information given in the Strategic rerx)rt and the Trustees, report. for the financial year for which the financial statements are prepared is consistent with the linancial statements." and The Strategic report and the Trustees, retx)rt have been prepared In accordance with applicable legal requirements. Matters on which we are required to report by exception In light of the knowledge and understanding of the charitable company and Its environment obtained in the course ol the audit, we have identified no material misstaiements in the Strategic report or the Trusiees, report. We have nothing to report in rest ol the folbwing matters where the Companies Act 2006 requires us to report to you If, in our opinion.. Adequate accountin9 records have noi been kept or reiums adequate for our audit have not been received from branches not visited by us. or The financial 5tatement5 are not in agreement with the accounting record5 and returns., or Certain disclosure5 of truslees, remuneration specified by law are not made,. or We have not received all the information and explanations we require lor our audit. or The trustees were not entrtled to prepare the financial statements In accordance with the small companies regime. Responsibilities of trustees As explained more lully In the trustees, responsibililies statement sei oui on page 8, the trustees (who are also the directors ol the charitable company lor the purposes ol company lawl are responsible lor ihe preparaiion of the financial staiements and for being satislied that gNe a true an4J fair view. and lor such iniernal control as the trustees determine is necessary to enable the preparation ol Iinancyal statements that are free from material misstatement, whether due to Iraud or error. In preparing the financial statements, the irustees are responsible lor 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 ol accounting unless management either Intends to Iiquidaie the chariiable company or io cease operatiOn5. or has no realistic alternative but io do so. Auditorfs responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial 5tatement5 a5 a whole are Iree from material misstatement, whether due to fraud or error. and io issue an auditor's report that includes our opinion. Reasonable assurance 15 a high level of a55urance. but 15 not a guarantee ihat an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. indNidually or in the aggregate. they could ieasonably be expected to influence the economic decision5 of u5er5 laken on ihe basis of these financial 5tateTllent5.
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Independent auditor's report: Year to 31 December 2021 Explanation as to whatextent the audit was consideredcapable oldeterting irregulanties. including fraud Irregularities, Including fraud, are instance5 of non-compliance with law5 and regulations. We design predre5 in line with OLJr responsibilities, outlined above, lo detect irregularities, Including fraud. The risk of not detecting a material misstatement due to fraud Is higher than thè risk of not deterting one resulting from error. as fraud may Involve deliberate concealment by, for example. forgery or intenlional misrepresentations, or through collusion. The extent to which our procedures are capable of detecting Irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection ot fraud ¥ests with both those charged with governance ol the entity and mana9ement. We obtained an understanding of the legal and regulatory frameworks that are applicable to the charitable company and determined that the most significant are Chaiities Act 2011. Charities SORP IFRS 1021, charitable Foundation's Memorandum and Articles ol A$slatIOn and Companies Act 21X)6. We UnderStd how UBS Optimus Foundation UK is complyin9 Wlth those frameworks by making enquiries of management and reviewing minutes ol the meetings ol the Trustees. We assessed the susceptibility ol the charitable company's financial statements io material misstaiement, including how fraud might occur by consitlering the risk of management override. We considered the controls that ihe charitable company has established to address risks identified by the trustees, or ihal otherwise seek to prevent. deter or detect fraud ènd how management and those ch3rge(I with governance monitor those controls. Based on this understanding we designed our audit procedures to identify noncompliance with such laws and regulations. Our procedures Involved the review of minutes ol meetings of the Trustees, making InqLJiries of managemeni,, and performance ol journal eniry testing based on our risk assessment ané undersianding of the business, with a focus on non-standard journals. A further description of our responsibilities IOT the audit of the financial statements Is located on the Financial Reporting Council's website ai hitpsjthw.frc.org.uklèudiiorsresponsibililies. This deKripiion forms pari ol our auditor's report. Use of our report This report Is made solely to the charitsble company's members, a5 a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and lor no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone oiher than the compafjy and the company's members as a t¥)ty. lor our audit work. for ihis report, or for the opinions we have formed. Mike Gaylor (Senior statutory auditor) lor and on behalf of Ernst & Young LLP. Staiutory Auditor DcGu8*Mdtsy'. London Date'.27 September 2022
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Section 2 Financial statements
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Statement of Financial Activities: Year to 31 December 2021 Unrellricted funds Re5trirted funds 2021 2020 Income from.. Donations Investments Totsl Income 435.019 5.487 440.506 30.155,705 46,595 30.202.3 30.590.724 52.082 30.642.806 26.570,686 71,899 26,642,585 Extnditure on.. Ch31i13ble activities Totsl expenditure 154.024 154.024 29.570,583 29.570.583 29,724.607 29,724,607 25,809,349 25,809,349 Nei income belore gains and iranslers Netlosses on Investments Transfers between lunds Other1105sesl gains Nel {expenditurel income and net movement in funds 286.482 631,717 918.199 833,236 115,5031 1739,0961 140,1111 739,096 21,264 (18.847) 1350,4321 1492,7251 1,392.077 899.352 467,301 Reconciliation of fund5: Total funds brought forward 1.448.633 6.716.868 8.165.501 7.698,200 Totsl lunds <arrled forward 955.910 8.108,944 9.064.854 8,165,501 All ol the Charity's aCtivitS are derNed from continuirJ operaticffls. All recognised gains and1055es are included in the ab)¥e Slatemenl ol Financ1 Activities. The accompanying accounting rolicvès an(1 notes on pa9es 21 to 31 fom) an iniegral part of the financial statements. A comparatwe statemeni ol linancNIl artNrties Is presented in note 16 to Ihese financial statements.
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Balance sheet: As at 31 December 2021 2021 2021 2020 2020 Note5 Fixed assets: Programme-relate(l investments 1.711.187 1,808,782 Current assets: Debiors Cash at bank and in hand 128.502 10.624.960 10.753.462 710.654 9,193.117 9,903.771 Creditors: amounts falling due within one year Nel current assets Total a55ets le55 current liabilitie5 13.375.435) 12.326,3171 7.378.027 9.089,214 7,577,454 9.386,236 Creditors: amounts falling due In more than one year Total net assets 10 (24,360) 9.064.854 11,220,7351 .165,501 Th• lunds ol the Charity: Restricted income lund5 Unrestricted funds .108,WI 955.910 9.064.854 6.716,868 1.448,633 8.165,501 The accompanying accounting Folic$ and notes on pa9e$ 21 to 31 form an integral part of financial statements. Approved by the Trustees and Signed on Iheir behalf by.. Trustee name.. Eva Lindholm Signature.. Date.. 2f109Q022
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Statement of Cash Flows: Year ended 31 December 2021 2021 2020 Notes Cash flows from operating artivities: Net cash provided by (used Inl operating activities 1.398.608 151.9431 Cash flows from investing activities: Investment income Net cash provided 52,082 52.082 71,899 71,899 investin activities Increase In cash and Cash equivalents 1.450.690 19,956 Reconclllation ol changes Sn cash and cash equlvalents Cash and cash equivalents ai 1 January 2021 Change in cash and cash equwalents due to exchange rate movemgnis 9,193.117 {18,8471 9,523,593 1350,4321 Cash and cash equivalents at 31 December 2021 10.624.960 9,193,117 A Reconciliation ol nel movement in lunds to net cash provided by operating •cti¥ities 2021 2020 Net movement In funds las pef Statement of finaniial artivitlesl Foreign-exchange losses Net1055es on Investrnents Investment income Decrease in programme related investrr*nt value Decrease in debtors (Decrease) in crediiors Net Cash provided by operatin 899,352 18.847 467,301 350,432 15,503 171,8991 (510821 97.596 582.152 (147,257) 1.398.608 23.245 1836. 5251 151.9431 artivilie5 8 Analysis of (ash and cash equivalents 2021 2020 Cash at bank and In hand 10.624.960 9.193.117
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Principal accounting policies: Year ended 31 December 2021 The principal accouniing policies adopted. judgements and key sources of estimation uncertainty in the preparation of the financi31 statements a laid out bel(w. Basis of preparation These financial 5tstements have been prepared for the ypar to 31 December 2021. The financial statemenis are prepared on an accruals basis. and have been prepared under the historical cost convention with item5 recognised at cost or transadion value unle55 Othenmse stated in the relevant accounting policies below or the notes to these financial statements. The lin3nci31 statements have been prepared in accordance with Accounting and Reportin9 by Charities.. Statement ol Recc¥xmended Praaice applicable io charities preparing iheir accounts in accordance with the Financial Reporting Standard applicable In the United Kingdom and Republic ol Ireland IFRS 1021 ICharitie5 SORP FRS 1021. the Financial Reporting Srandard applicable in the VK and Republic ol Ireland IFRS 1021 and the Chariiies Aci 2011. The Foundation conslituies a public benelii eniity as delir*d by FRS 102. The financial statements are presented in Pound Sterling and are TndEd to the nearest pound. Critical accounting e5timate5 and areas of judgement Preparation of the financial statements requires the Trustees and mana9ement lo make significanl judgemen15 and estimates. Estimates and iud9ements are Coniinualty evaluaied and are based on historical experience and other factor5, Including an expectation of future event5 that are believed to be reasonable under the circurn5tances. Although these estimates are based on the Trustee5' best kncIedge of ihe amount, event of actKJns, actual results may diller Irom those estimates. Area5 requiring the use ol estimates and critical jufkJemenis ihai may imw on the Charity's financial attivities and financial position Include.. Social inve5tment5, which require consideration of the nature of the Investment to ensure that the substance of the arrangement Is appropriately accounted for as elir a -progrèmme relaied investment" held ol cost or a 'mixed motive investrnent" held at lair valve. This invofves the Trustees. judgement on wheiher.. The Investment Is made In order to directly further the charitable purFoses ol the Foundation and where financial return is not ihe primary reason making ihe investment Ipfogramme relaiedl," and The investmenl is rnade to both further the Foundation's charitable purposes but also to generate a financial return (mixed motive Inve5tmentl. The Foundation classifie5 donatH)n5 and grant5 received a5 either restricted or unrestricted income. These are treated as resirirted income where the Ik)nor hos specified that the nN)nies be used lor a particular purpose, Usually by selecting a prLxJramme that suits their interests from the Foundation's global project portfolio. The incorne Is treated as unrestricted when the donor has not S(l11ed such a purpose, and Instead the Trustee5 rnay use It to support the FoUn¢jain.5 eablIShe(l pf(4rammes SUPPOfling ihe education, health and protection needs ol children. Assessment of going concern The Trustee5 have assessed whether the use ol the going concern aSsumptn 15 appropriate In preparing these financk31 statements. This included an assessment of the rM)ssible effects of ihe continuing COVID-19 pandemic on the Charity's act1Vltie5. The Trustees of the Foundation have corKluded that there are no material uncertainties related to events or conditions that cèst signilKant doubt on the ability of the Foundation to continue as a going concern. The Tru5tee5 are of the opinion that the Foundation will have sufficient resources to meet Its liabilitie5 a5 they fall due, as they believe that UBS AG will continue to support the Foundation's activities. The Trustees have a reasonable expectation that thÈ FoLJndation has adequate resources to continue In operaiional existèncè for the foreseeable future f(x a period of 12 months Irom the date ol these financial statements. For this Teason, they continue to adopt the going concern basis in preparing the financial statements.
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Principal accounting policies: Year ended 31 December 2021 Income recognition Income 15 recognised In the period in which the Foundation has entitlement lo the income. the amount of income can be measured reliably and it is probable that the income will be recewed. Income comprises donations, gifted services and investment income. All income is accounted for on an accruals basis in accordance with the conditions of the SORP. Donations are received from UBS AG clients and include related Gift Aid tax reclaims. Donation5 are recognised when the charity has confirmation ol both the amount and settlement date. Gilt Aid Is recognised as revenue as at the date of the donation claiming Gift Aid contingent upon ihe FRS 102 revenue rOgnitIon principles of entitlement, probability. and measurement being met. Gifted services in the form of donated services received from UBS AG London Branch (the "Member'l that cannot be quantified with reasonable accurag are nol recognised by the Foundation. Dividends are recognised once the dividend has been deckred and notification has been received of the dividend due. Interest on funds held on deposit Is included when receivable and the amount can be measured reliably by the charity. It is calculated and accrued In line with the deposrt agreement. Expenditure recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity lo make a payment to a ihird party, il Is probable that a rransfer of economic benefits will be required In settlement and the amount ol the obligation can be measured relvably. All expenditure Is accounted for on an accruals basis. All expenses are allcKated or apportioned to the applicable expendilure headings. Expenditure is presenied in either resiricted or unrestricied funds, depending on ihe classification of the income from which It is funded. Expenditure on charitable activities Includes all costs associated with furthering the charitable purposes of the charily through ihe provision ol its chariioble aaivities. Charitable grant5 are made where the Trustees consider there Is real need Idlowing a review ol the details of each particular case and comprise single year payments rather than multi-year grants. Grants and donations are Included In the staiement of financial activities when approved lor paymeni. A creditor or debtor is recognised lor grants and donations approved but unpaid at the period end. Support costs Support costs represent Indirect charitable expenditure. In order to carry out the primary purposes ol the Foundation il is necessary io prowde support in ihe lorm of financial and governance procedures. provision of office services and equipment and a suitable working environment. Gifts In kind in the form of donaled services received from UBS AG London Branch thai cannot be quantilieij with reasonable accuracy are not recognised by the Foundation. Support cost5 are allocated to the Foundation's ngle charitsble activity. Foreign currency exchange The Foundation's presentational and funciional IUTrency Is pound sterling. Transactions denominated in foreign currencies are initially recorded in the functional currency ai the exchange rate ruling at the date of the trafjsartion5. Monetary assets and liabilitie5 denominated in foreign currencie5 are translated into the functional currency at the exchange rate ruling on the balance sheet date. Non-monetary items denominated In a foreign currency, measured at fair value are Iran5iated into ihe functional currency using the exchange rate ruling at the date when the lair value was determined. The Foundation has cash balances denominated in foreign currencies. Al currency differences are Included In the statement of financial activities.
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Principal accounting policies: Year ended 31 December 2021 Fund accounting The Foundation has restricted and unrestricted funds. Restricted funds are irrevocable funds subject to specific conditions imposed by the Foundation and taken dirertly to the statement of financial activities. Funds are typically granted within one to two year5 of receipt. Company shares The Foundation wa5 Incorporated on 12 ju 2013 Witho share capital and is limrted by guarantee. The guarantor ol the FoLJndation is the Member. In the event of the Foundation being wound up, the liability of the Member is limited to £1. The Foundation has indemnilied all Trustees in respect ol any liabilities properly incurred in running the Foundatio to the extent permitted by the Companies Act 2006. Programme-related investments Programme related Investments are la1 investments made directty in pursuit ol the Charity's charitable purposes by funding specific activities where 3 financial return is not the primary reason lor making the investment. Programme related inve5tment5 consist of conces5ionary loans. The loans are initially recognised at the amount paid with the carrying amount adjusted In subsequeni years io relle(i repayments and adjusted Il necessary lor impèirment. Any impairment is written off and treated as charitable expenditure. Interest receivable on the loan is credited to the statement of financial activities In the year In which It arise5. Debtors Oebtors are recognised at their settlement amount. less any provision for non.recoverability. Prepayments are valued at the amount prepaid. Debtors hève been discounted to the present value ol the future cash receipt where such discounting Is material. Cash at bank and in hand Cash at bank and In hand represents such accounts and instruments that are available on demand or have malurily of less than three month5 from the date of acquisition. Creditor5 and provisions Creditors and provi5I0Tr5 ale recognised when there is an obligation at the balance sheet date as a result of a past event, it Is probable that a transfer ol economic benefit will be required In settlement, and the amount of the settlement can be estimated relkibly. Creditors and provisions are recognised ai ihe arnount the Foundation anticipates it will pay to Settle the debt. They have been diKounted to the present value ol the future cash payment where such discounting is material.
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Notes to the financial statements: 31 December 2021 1 Donations Unre5trKted funds Restn(ted funds 2021 2020 Donations Gifts In kind 2021 Total funds 2020 Total funds 435,019 30.095.945 59.760 435,019 30,155.705 74.360 26.496.326 30.530.964 26,518.566 59,760 52.120 30.590.724 26,570,686 26.570.686 Included in gifts in kind above are donated services from UBS AG. the Foundation'5 immediate controlling party, ol £59,76012020.' £52,120) in respect of audit and accouniancy lee5 paid on the Charity's behalf. During the year UBS AG provided ihe Foundation vvith administratNe support in the form of donated staff time, and also provided Its facilities and Infrastructure free ol charge. Th support has nol en recognised in the financial ststements because it has not been K%)ssible to quantify the volue with reasonable accuracy. 2 Investment income restred funds ResirKied funds 2021 2020 Bank interest Income frorn progrèmme related invesiments Inoie 71 Other 2021 Total funds 4,059 4.059 23,760 46,595 46.595 48,139 1,428 5,487 71,899 1,428 52.082 46,595 71.899 71,899 2020 Total funds
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Notes to the financial statements: 31 December 2021 3 Charitable artivities Unrestred funds Restrirted funds 2021 2020 Grants awarded Africari Mi55ion Healthcare Foundation Afriscout ARK Bluè Marine Foundation Canopy Planet Society Care for Children Charity.. Water Child Protection Portfolio Climate Colleciive SE Asia Umbrdla Climate Education Common Seas Covid Recovery Fund Development Media InternatKsnal AlateS Directorate ol Science Technolo9y & Innovation D15ability Right5 International Earth Security Partnerthip5 Blue caln EducaiK)n DIB EducaiK)n Portfolio Emergency Response Coronhvirus EPG / ARK For Baby's Sake Freedom Fund Healthy Me Healthy Sea Home for GiJ)d Hope and Homes for Children Internaiional Committee of the Red Cro Intern31ional Rescue Committee International Union lor (Seat)n ol Nature IntoUniver51ty justice and Care Karuna Education Portfolio Kids Operating Room Koninklijk Instituut v(K>r de Tropen Laboratorki Last Mile Health 50,148 36.624 6.541,580 210,685 550.000 50.148 36.624 6.541.580 210,685 550.000 4,287.500 1.100.WO 11,000 55.000 55.000 780 148.705 407.860 1.100,000 54,509 148.705 407,860 1.100,000 54,509 25,000 422,563 110,000 105,274 345,204 3,094 3.094 723 62,500 354.632 825.000 1.890.708 18.588 723 62,500 354,632 825,000 1,890,708 18,588 558,288 1.106.817 76,250 1,457.473 20.975 500,459 500.459 50,000 75.117 50.000 75.117 165,000 440.324 743.485 743A85 1.574,400 50.000 1.574.400 50.000 5.894.431 79.637 79.637 272.907 Carried forward to page 26 3.874 15,380,360 15.384.234 16,399.006
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Notes to the financial statements: 31 December 2021 Unresuted fund5 RestrKted funds 1021 2020 Brought forward from page 25 3.874 15,380.360 15.384.234 16,399.006 Lifebox Foundation Love Your Neighbour Lurninos Mu50 Inc NambiRand Nature Conservancy One lo One Children's Fund Onside Youih Zones Operation Smile Optimus Switzerland. restrirted for Brunswick Pack2Good Palladium International Limited PEAS Place2Be Praiham Preia Terra Project Concern Internatial IAfr15COUtI Railway Children Safe Child Thailand SDG Outcome5 Fund Shine Skills Partnership S¢xial Impact Fund The Citizen's Foundati UK The Gavi Alliance- COVAX The Princes Trust Transparentem Trust for Social AChvernent UBS UK Donor-Advised Ftxjndation UK Moths Project University Children's Ho¥Jiial 2urich We Care Solar Wild Bear- Climate Educatic World Child Cancer 108.424 1,040,000 390,681 44,791 72.283 108.424 1.040,IY)O 390.681 44,791 72.283 112.608 152.223 1.657,312 397. 158 3.761.fX14 94.090 2.780,775 94.090 2.780.775 18.588 18.588 141,628 1.049,33S 59.428 2,750 1.049.335 59A28 2.750 140.427 27.500 387.395 93,S59 55.000 55.000 27,500 1,392.672 494.530 1.392.672 494.530 765,460 45,407 250,000 87,579 589,628 250.01)0 87.579 589.628 721.500 660,000 130,066 928.630 2,453.628 928.630 2A53.628 150.000 1.131AOO 827 11.000 629.638 79,637 150,OC() 1.131,400 827 11,000 629,638 79,637 82,866 Totsl Granl expenditure 153.874 29.145,674 29.299.547 25,702.619 Carried forward to page 27 153.874 29.145.674 29.299.547 25.702.619
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Notes to the financial statements: 31 December 2021 Unresuted fund5 RestrKted funds 1021 2020 Brought forward from page 26 153.874 29. 145.674 29.299.547 25,702.619 Other charitsble expenditure Consultancy Active Philanthropy ARK Consultancy Climate Collectwe SE Aya Umbrella El Consultancy E Worm Philanthropy Forum for ihe Future Kaepe Solutions Impact46 Limited New Philanthropy Catal 38,083 38.083 38,946 12,000 189,031 4.200 189.031 4.200 1,200 72,210 52,126 9,500 72.210 52.126 9.500 153.874 29.510.824 29.664.697 25,757,229 Support costs Auditor's remuneration Accounting service5 Other 30,500 23,160 6.100 30.500 23,160 6250 30,500 21,620 150 2021 Total fund5 2020 Total funds 154,024 29.570.583 25.809.349 29.724.607 25,809.349 25.809.349 'AII 2020 charitable actiwtie5 expenditure was restricted. 4 Staff costs andremuneration of keymanagementpersonnel The FoundatioTr etnployed no Stall members during the yeai 12020. none) and incurred no staff costs12020'. £nill. The key management personnd of the charity in charge of runnin9 and or*rating the charity on è day to day basis comprise the Trustees and the following staff ernployed by UBS AG. whKh Include but are not limited to the Head ol Philanthropy Service5 UK. a Busine55 Mana9ement team". a Philanthropy Advi50ry team. and a &u5ine5S Development team. These staff are employed and remunerated by U8S AG London 8ranch. No remuneration wa5 paid to the key management personnel by UBS Optimus Foundation UK.
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Notes to the financial statements: 31 December 2021 5 Net income lexpenditurej This is stated after char9ing'. 2021 2020 Auditor's remuneration 30.500 30,500 6 faxation UBS Optimus Foundation UK Is a regisiered charity and Is therefore not liable to income tax or corrK>ration tax on Income or gains derived from its charitable actNitie5. as tlw lall within the Var5 exemptions available to registered charilies. 7 Programmfrrelatedinvestments At the year end, the charity had investments which were held direttly In purnjit ol the organisation's charitable activities, as follows.. 2021 2020 At l January Movement due to foreign exchange Al 31 December 1.808,782 {97.5951 1,711.187 1,824,285 115,5031 1,808,782 The programme•related investments comprise two loans. One loan was lor an amount of £1,443,071 made io Hope and Homes for Children. The loan amount was drawn down on l August 2017 and has been given to allow Investment In fundraising to develop a diversified sustainable Income so that Hope and Homes lor Children can achieve the scale ol operation reqLJired to deliver the mission to be a global caialyst lor the eradication ol institulional care ol children. Following a re5truciure ol the PRI loan in early 2020, the loan Is repayable In Instalff*nts, with the final payrront date being 30 lune 2030 Ipreviously 30 lune 20221. The principal amouni ol the loan outstanding carries inieresl ai a rate 012%. accruing daily. Interest is payable on each anniversary of the date of drawdown until lune 2022 only. The second loan was lor an arnount ol SS00.0001£393,5491 made to Impact Water. The loan amount was drawn down on 30 july 2018 and has been gwen in order to provide safe drinking water to schools by providing an affordable package o15yStem5. maintenance and credit, that Improves children's health and their school performance. The loan Is repayable on the final repayment dale of 15 September 2025. The principal amount ol the103n outstandin9 cariies interest ai a rate 015%. accruing daily. Interest is payable on each anniversary of the date of drawdown and the final repayment date. 8 Debtors 2021 2020 Accrued income 128.502 710,654
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Notes to the financial statements: 31 December 2021 9 Creditors.. amounts falling due wi.thin oneyear 2021 2020 Grant creditors 3.375.435 2,326.317 10 Creditor5.' anR7unts falliry due aftermore than oneyear 1021 2020 Grant credito 24.360 1,220,735 11 Restrirtedfunds At31 December 2021 january 2021 Gains / (Losses) IrKome Expenditure Transfers EducalM)n Child protectic Consultancy Environment Donor specilK funds Other Emergency relief Totsl lunds 369.317 1.488.498 270,734 28,861 31,739 1152,2901 460.335 4.739,511 13,004.2751 4.336.216 2S.071,696 126,291.0351 59.760 159.7601 62.501 162.5011 6.716.868 30.202.300 129.570.5831 17231 1381 639.290 1.517.359 120,551 174,367 444,179 28,853 17,5511 2.398.791 3.553.505 739.096 21.264 8.108.944 At31 December 2020 january 2020 Gain5 1 (Losses) IrKome Expenditure Transfers EducatK)n Child protectic Consultan Environment Social finance Donor spKilK funds Other Emergency relief Total funds 173.187 1210.4071 422,040 1,488,498 54,610 138.9461 115,5031 369,317 1,488,498 154,6101 2.185,510 11,686,229) 504,261 1486,8321 7.263.963 21.640,745 121.741.4571 12.504.2641 347,611 152,1201 1295.4911 1.645,011 11,577,695) 7.263.963 26.496.326 125.809.3491 460,335 117,4291 1322.7711 4,336,216 14,8161 1360.5191 62,501 6.716.868 1873.5531 Restricted funds comprise fund5 held for Ihe purpose of making granls and programrne related Investmenls. Transfers from unrestrirted funds lo restricted funds represent Instances whereby the charity's general funds were uiilised to fund prO1ts which had predominanity been funded previously by restriued funds.
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Notes to the financial statements: 31 December 2021 12 Analysis of netassets between funds Unre5trK funds Restrirted funds 2021 Fund balances at 31 December 2021 are represented by: Piogramme-ielated Investments Net current assets Creditors.. am(xJnts falling due after more than one year Total net assets 1.711.187 6,422,117 124,3601 8.108,944 1.711.187 7.378,027 124.360) 9.064,854 955.910 955.910 UnrestrKted funds Resiricted funds 2020 Fund balances at 31 December 2020 •re represented by: Programme-related Investments Nei current assets Creditors.. amounts falling due after more than one year Total net assets 1.808.782 6,128,821 11,220.7351 6.716,868 1,808,782 7,577,454 11,220,7351 8,165,501 1.448.633 1,448.633 13 Share capital The Foundation is a company limiied by guarantee and has rK) Sha capital. The liability of the Member is limited to £1. 14 Relatedparties The Trustees received no ernolumenis or expenses during the year. The immediate controlling party is its Member. UBS AG London Branch (Company Registration No FC0211461, branch ol the ultimate parent undertaking and controlling party UBS AG (Swiss Registraiion number CHE- 101.329 561 l. a company Incorporated in SwiizerL4nd wilh 3 registered addres5 of AESCHENVORsfADT 1 4051 Basel, Switzerland. UBS AG Is the SO Member ol UBS Optimus Foundation UK. The Foundation recewed donated seNces and resources from its Member wth no conditions attached. Detsils of these services is provided in note l. The Foundètion received £3. 104.48912020 E4.426.87710l income in the form ol matched funding from UBS AG. UBS AG Is also the sole Member of UBS Donor Advised Fund Icompany Registration No 8619641. a registeied charity (Charity Re9lStration No l 1535311. During ihe year the Foundaiion received donatw)n5 from individuals via ihe UBS Donor A(fvised Fund of £6.193,25512020.' £2.769.0161. AII related party transactions were conducted at arm's length. 15 Subsequent events There are no subsequent events to be dixkjsed lor the year erwjed 31 December 2021.
Docusign EnvÈlope ID." E4AgoB4&17(K45DE-gC57-9797EE38558E Notes to the financial statements: 31 December 2021 16 Comparative statement olhnanoalartivities Unre5tnrt funds Restricted funds 2020 Income from.. Donations Investments Total income 74.360 71,899 146,259 26,496.326 26.570,686 71,899 26,642.585 26,496,326 Expenditure on.. Charitable activilies Total expenditure 25,809,349 25,809,349 25,809,349 25.809,349 Net income before gains and translers Nei105ses on inveslrnents Transfers between funds Other Ilosse51 ains Net {expenditure) Inc¢me and net movement In funds 146.259 686.977 115,5031 1873,5531 1345,0161 1547,0951 833.236 115,5031 873.553 15,4161 1.014.396 1350,4321 467.301 Reconciliation of fund5: Total funds brought forward 434.237 7,263,963 7.698,200 Total funds carried Iorlvard 1,448.633 6,716.868 8.165,501