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