2024-12-31-accounts

Docuslgn Envelcye ID.. 37oD80F&473747D8J￿73-77584OA3sA33 REGISTERED CHARITY NUMBER: 1154027 Report of the Trustee$ Ungudlted Flnanclal Statements for the Year Ended 31 December 2024 for Reed F•mlly Foundatlon

Docusign Envelope10: 370D8DF6473747D8-907>775840A35A33 Reed Family Foundation Contents of the Flnanclal Statements for the Ye4r Endtd 31 December 2024 Page Report of the Trustees Independent Examlner's Report Statement of Flnanelil Actlvltles Balance Sheet Notts to the Flnanelal Statements

Oocu8ign Envelope10: 370D8DF64737470&9073-775840A35A33 Reed Fgmlly Found2tlon Report of the Trustees for the Year Ended 31 Dee¢mb¢r 2024 The trustees present their report with ihe financial statements of the charity for the year ended 31 December 2024. The tTUStees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo Charities preparing their accounts in accordance with ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES The charity's objectives are to further such exclusivity charitable purposes accordin8 lo ih¢ law of England and Wales as its trustees in their discretion deterniine from time to time. The charity makes grants to organisations and individuals for exclusively charitable purposes. The charity h&s a 8Tanl-making policy in place which sets out priorities for fvnding, the process ihe irustees follow in making 8rants and what is required from grani re¢ipients in tern￿ of monitoring and reporting. The TNslees ¢onfiThn that they have complied with iheir duty to have due regard to the Charity Commission's general guidance lo ¢harilies on public benefit. ACHIEVEMENTS AND PERFORMANCE £1,000 of donalions were received in the year and the charity made £90,000 of grants (2023: £nil grants). The trustees are seeking to award grants ulilising income in the year tO8eiher with capital brought forward. Given the eurrenl uncertainty which has impacted on the portfolio value the I￿￿teeS are limiling the grants awarded in ihe inleresl of ensuring the charity has a long lerni future. FINANCIAL REVIEW Flnanel41 posltlon During Ihe year under review, total income was £6.675 (2023: £4,958) lolal expenditure was £106.855 (2023.. £12,848) and nel gains on investments tolalled £174,261 (2023: £180,716), resulting in the unrestricted reserve5 for the year carried forward of £1,602,814 (2023,. £1,528,733). Reserves pollcy The charity has significant reserves and ihe eharity pays 8ranls based on its ability to do so taking into accounl commilmenls already made. The reserves policy of Reed Family Foundalion is lo maintain sufficieni free reseTV¢S (total serves less restricted funds and fixed assets) to enable the chDrity to meet these 8rant making objeelives. The current level of free reserves is shown on the Balance Shed. FUTURE PLANS The tNsiees intend to continue lo identify projects worthy of ¢hariiable support throughout the next financial period. The ITUS(ee5 sh811 continue to r¢view the 8ranl-makin8 Strategy and the priorities for fundin& STRUCTURE, GOVERNANCE AND MANAGEMENT Thc charity's goveming documcnt is 115 Consiitution adopted on l October 2013 as amended on 20 January 2015, and it is conslituted as a Charitable Incorporated Organisalion" (CIO). Apart from the first trusttts, new In￿leeS will be appointed by Ihe founding Iruslee, Richard Reed in accordance with clause 10 of the governing document, If he ceases lo be a trustec. the rcmainin8 Irusiees have power lo appoint new truslees. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Charity number 1154027 Page I

(kcusw Envèlopo ID 370D8DF8473747D8-9073-775840A35A33 Reed Famlly Foundatlon Report of the Trustees for the YeAr End￿ 31 December 2024 Prlnelpal addre Womble Bond Dickinson The Spark. Draymans Way Newcastle Helix NEWCASTLE UPON TYNE NE4 5DE Trustees R Reed CA Reed KE May Independent ExgmlD¢r Chrisiopher Beaumont BA{Hons) BFP FCA DChA Clive Owen LLP Chartered Accountants 140 ConisclitTe Road DAiiLINGTON Co Durham DL3 7RT 30 octobec 2025 Approved by order of ihe board of Iru$te¢s on ............................................. and signed on its behalf by: (41¥" RReed- rusiee Page 2

t)Jcusiw Envelope ID.. 370D8DF6473741D8-9073-775840A35A33 Independent Examinerls Report to the Trustees of Reed Famlly Found8tlon Independent ex4nJlner's report to tht trustees of Reed Family Foundation l ￿pOrt to the ¢harity Itwfres on my examinalion of the accounts of Recd Family Foundation (the Tn￿1) for the year ended 31 De¢ember 2024. Responslbllltles and bas1$ of report As the charity ITusiees of the Trnsl you are responsible for the preparation of the a¢counis in accordance with the requirements of the Charilies Aci 2011 ('the Act,). I report in respect of my examinalion of the Tn￿t'S accounts carried oul under Section 145 of the Act and in carying oul my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of Ihe Aa. Independent examlner's statemeTrt I have completed my examination. I confimi that no material matters have come to my attention in conneeiion with Ihe examinaliort giving me cause to believe that in any material respect: accounting records were nol kepl in respect of the Trust as requiTed by Section 130 of the Act; or the accounts do not a¢¢ord with those records. or the accounts do not comply with the &pplic8ble requirements concerning the forni and Content of aeeounls set out in the Charities (Accounts and Reports) Regulations 2008 other Ihan any requirement that the accounts give a tNe and fair view which is nol a matter considered as part of an independent examinalion. I have no concerns and have come across no other matters in conneeiion with the examination lo which atlenlion should be drawn in this report in order lo enable a proper underslandin8 of the accounts to be reached. Chrislopher Beaumont BA(Hons) BFP FCA DChA Clive Owen LLP Charte￿d Accountants 140 Coniscliffe Road DARLINGTON Co Durham DL3 7RT Page 3

D¢￿￿SIgn Envelope10: 370D8DF6473747D8-K)73.775840A35A33 Reed Famlly Foundatlon StAtement of Flngnd21 Artlvltles for the Year Ended 31 December 2024 2024 Unrestri¢led nd 2023 Total fijnds Not¢5 INCOME AND ENDOWMENTS FROM Donations and le8acies l.O(K) Investment in¢om¢ 5,675 4,958 Total 6,675 4,9S8 EXPENDITURE ON Ra151ng funds Inveslment management costs 9,516 8,693 9,516 8,693 Charltable actlvltles Support costs of 8rant makin8 97,339 4,155 Total 106.855 12,848 Nel 8ains on inveslmenls 174,261 180,716 NET INCOME 74,081 172,826 RECONCILIATION OF FUNDS Tothl ￿ndS brought forw•rd 1,528,733 1,355,907 TOTAL FUNDS CARRIED FORWARD 1,602,814 1,528,733 The notes fomi part of these financial statements Pagc 4

Docusign Envolopo ID.. 370080FPA7374708.907&775840A35A33 Reed Family FoundAtioD Balance Sheet 31 December 2024 2024 Unrestri¢ted fund 2023 Total fjjnds Noles FIXED ASSETS Investments 10 1.591.486 1.481.548 CURRENT ASSETS Cash at bank 16.693 51.698 CREDITORS Amounts falling due within one year (5,365) (4,513) NET CURRENT ASSETS 11,328 47,185 TOTAL ASSETS LESS CURRENT LIABILITIES 1.602,814 1,528,733 NET ASSETS 1,602.814 1,528,733 FUNDS Unresiricled fvnds 12 1,602,814 ,528,733 TOTAL FUNDS 1,602,814 ,528,733 The financi81 statement$ were approved by ihe Board of Tntstees and authorised for issue 30<Ktob8r.2025,..,,.,,. and were signed on ils behalf by.. on RReed- ruslee The notes forni part of these financial statements Page 5

D￿V51gn Envekye ID: 370D80F6473747D8-W73-775840A35A33 Reed Famlly Foundadon Notes to the Fln2nt121 Statements for the Year Ended 31 Deeember 2024 ACCOUNTING POLICIES Ba51s of prep74rlng the Ilnanclal statements The financial siatements of the charity, which is a public benefii entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accountin8 and Reportin8 by Charities: Statement of Recommended Practice applicable to charitlcs PTcparing their accounts in accordance wilh the Financial Reporting Stsndard applicable in the UK and R¢publi¢ of Ireland (FRS 102) (effective l January 2019),, Financial Re￿nIng Standard 102 The Financiol Reportin8 Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historieal cost convention, wilh the exception of investments which are included at markd value, as modified by the revaluation of certain assets. Charlty Status The Reed Family Foundation is a CIO registered with the Charity Commission. The Charity5 registered number and office can be found on the report of the Irustees. The chariiy is a Public Benefit Entity as defined by FRS 102. Golng Concern Ai (he lime of approving the financial sthlements, the tntslees have a reasonable expectation that ihe charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue io adopt the going ¢on¢ern basis of accounting in preparing the financial sla*nKnls. CrltlcAI gccountlng Judgements And key Sourcey of estlmAtlon uncertalnty In the application of the charity's accouniing policies the Tn￿lee5 are required lo make judgements, e51imales and assumption5 about the carying amount of certain asset$ and liabilities. The estimated and associaled assumpiions are based on historical experience and other faciors th41 art ¢onsid¢red lo b¢ r¢l¢vanl. t)uc to the non conwlex nature of the charitys operations in the opinion of the In￿lee$ there are no key judgemenls or eslimation uncertainties that need to be considered when preparing ihe financial slatemenis. In¢omJn8 re50urc¢$ All income is recognised once Ihe charity has entitlement lo ihe income, it is probable th81 the income will be received And Ihe amount of income receivable can be measured reliably. Inlerest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is nornially upon notification of the inleresl paid or payable by the bank. Dividend5 arc recognised once the dividend hAs been declared and notification has been received of the dividend due. This is nornially upon notificaiion by our investment advisor of the dividend yield of the investmeni portfolio. Donations are recognised when the charity ha5 been notified in writing of boih the amount and settlement date. In the evenl that a donalion is subjecl lo conditions that require a level of perforniance before the charity is entitled to the fvnds, the income is deferred and not recognised until either Ihose conditions are fylly met, or the fulfilmenl of these conditions is wholly within thc conlrol of the charity and il is probable Ihai Ihose conditions will be fvlfilled in the rq)ortitl8 period. Donations in the Statement of Financial Activities include any associated gift Aid. Expendlture Liabilities are recognised as expenditure as soon as Ihere is a le8al or consiTUCtive obligation commilting the charity to that expenditure. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accrnals b8sis and has been rla&8ifi¢d under h¢adings that aggregate all cost relaled to th¢ ¢at¢gory. Where costs cannoi be direcily anributed to particular headings Ihey have been allocated lo activities on a basis consisienl wilh Ihe use of resources. Grants offered subject to condition5 which have not been met at the ycar end date arc noted as a commitment but not acc￿ed as expenditure. Taxallon The charity is ￿eMpt from tax on its charitable activities, Pa8e 6 continued.

Docu$ign Envelow ID.. 370D80F64737470&907&775840A35A33 Reed F2mlly Foundatlon Note5 to the Flnanclal Statements- ¢on¢lnued for the Year Ended 31 De¢ember 2024 ACCOUNTING POLICIES - contlnued Fund accountlng Unresiricled funds ¢an be used in accordance with the charitable objeclives ai the dis¢relion of the trustees. Restricted fiJnds can only be u￿d for particular restricled purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds ar¢ raised for particular reslricled purp05eS. Further explanation of the nature and purpose of each fijnd is ineluded in the noies io the financial statements. AII held a131 December 2024 and 31 Decernber 2023 together with all transactions ihroughoul the years relaied to unrestricted fvnds. Flnanclal Instruments The charity has financial assels a￿] financial liabililies as basic financial instruments. They are initially recognised al IransAclions value and subsequently measured as their settlement value, with charges recognised in profil or loss. Investments Fixed asset investments in quoted shaTes, traded bonds and similar investments are valued inilially at cosl and subsequently al fair value (their market value) al the year end. Any gains or losses on Tevalualion are laken lo the Sialemenl of Finallcial Activities. Where a rcliable valuation cannoi be oblained investments will be held at cost. DONATIONS AND LEGACIES 2024 2023 Donations 1.0 INVESTMENT INCOME 2024 2023 Divid¢nds r¢¢eived Bank account interest 2,802 2.873 1,140 3.818 5,675 4,958 INVESTMENT MANACEMENT COSTS 2024 2023 Inveslmenl advi¢e 9,516 8,693 continued..,

Owusign EnveWe ID.. 370D8oF6473747D8-￿73-77684OA3SA33 Reed Fgmlly Found2tlon Note5 to the Flnanclal Statements - continued for the Year Ended 31 December 2024 CHARITABLE ACTIVITIES COSTS Granl funding of aeiivilies (see note 6) Support costs (See not¢ 7) Totals Supp)rt Costs of grant making 90.000 7,339 97.339 CRANTS PAYABLE The lolal grdnts paid to instithtions during th¢ year was as follows: 2024 2023 Greenpeace 2nd Chance BRIT School 60,000 20.000 10,000 90,000 SUPPORT COSTS 2024 2023 Legal & professional fees Independent examinalion For¢ign ¢x¢hang¢ diff¢r¢n¢¢s 4,315 3,762 (738) 731 3,302 122 7,339 4,155 TRUSTEES, REMUNERATION AND BENEFITS There were no Iruslees. remuneration or other ben¢fiiS for the year ended 31 De¢emb¢r 2024 nor for the year endcd 31 tkccmber 2023. Trustees, expenses There were no Irustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fvnd INCOME AND ENDOWMENTS FROM Invesimeni income 4.958 EXPENDITURE ON Raising funds Investment management costs 8,693 8,693 Page 8 continued...

tknusiw Envelope ID.. 370D80F647374708-9)73.775840A35A33 Reed Famlly Foundatlon Note5 ¢0 the Financial Statement5 - continued for the Year Ended 31 December 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- contlnued Unrestricted nd Charltable acllvllles Support costs of 8rant making 4,155 Total 12,848 Net gains on invesiments 180,716 NET INCOME 172,826 RECONCILIATION OF FUNDS Tolal funds broughi forward 1,355,907 TOTAL FUNDS CARRIED FORWARD .528.733 10. FIXED ASSET INVESTMEIYTS 2024 2023 Shares her 1,582,465 9.021 ,412,439 69,109 ,591,486 1.481.548 Addilional information as follows: Listed investments MARKET VALUE At l January 2024 Additions Disposals Revaluations 1,412,439 404,324 (408,559) 174,261 Ai 31 Deeember 2024 1,582,465 NET BOOK VALUE Al 31 December 2024 1,582,465 At 31 tkcember 2023 ,412,439 The hislorical cosl of the InVe￿mentS is £1,079,308 (2023: £1,066,155). Page 9 continued.

Do￿¥19￿ Envekye ID. 37oD8DF647374708-￿F3.7T584OA3sA33 Reed Famlly Foundatlon Note5 to the Flnan¢lal Statemen¢s- eontinued ror the Year Ended 31 Deeember 2024 io. FIXED A&SET INVESTMENTS - contlnved Investments (neither lisled nor unlisted) were as follows., 2024 2023 C￿h held in portfolio 9,021 69,109 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Oiher creditors 5.365 4.513 12. MOVEMEKf IN FUNDS Nel movement in funds At 31.12.24 At 1.1.24 Unrcstrlctcd funds General fund 1,528,733 74,081 1,602,814 TOTAL FUNDS 1,528,733 74,081 1,602,814 Nei movement in fvnds, included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in fimds Unre51rl¢ted funds General fund 6,675 (106,855) 174,261 74,081 TOTAL FUNDS 6,675 (106,855) 174,261 74,081 Compiridves for movement In funds Net movement in fimd5 At 31.12.23 At 1.1.23 Unrtstrleted funds General fund 1.355.907 172,826 1.528.733 TOTAL FUNDS ,355,907 172,826 1,528,733 Page 10 continued...

tYocusfvJn Envelope10: 370D8DF84737470VJ073-775840A35A33 Reed Fgnthly Foundatlon Notes to the Flnanclal Statements- contlnued for the Year Ended 31 December 2024 12. MOVEMENT IN FUNDS - contlnued Comparative net Twvement in funds, included in the above are as follows: Incoming Tesources Resources expended Gains and I0￿eS Movement in funds Unre$trlcted funds Gtnernl fund 4,958 (12,848) 180,716 172,826 TOTAL FUNDS 4,958 {12.848) 180,716 172,826 Unrestricted funds are held to mRke 8ranls to projects worthy of charitable support as identified by the tNstees. 13. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2024 or 31 December 2023. Pagell