Charlty numb•r- 1161209 THE EQ FOUNDATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
THE EQ FOUNDATION CONTENTS Page Referenc• and Admlntstrativ• D•tai15 of the Charlty. Its Trustees and Advlse Trustees. Report Indfrpendent AudStor's Report on the Financlal Statèments Statement of Flnan¢ll Activitl 10 Balance Sheet 11 Statm¢nt of Cash Flows 12 Notes to the Financlal Statem•nts 13-23
THE EQ FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 APRIL 2025 Trustèes Ben Faulkner Catherine Deptlord Iresigned 12 Novemb&r 20251 Fredd C¥)rth Irestgned 22 Juty 20251 John Spiefs Mark Kenner {resvJned 4 June 20241 Mike Neumann Zoe 8rett lan Barlow Rebecca Sakin Laura Hassan-Blake (appointed 7 Juty 20251 Charlty reglster•d number 1161209 PrlncSp81 offic• Centennium House 100 Lower Thames Street London EC3R 6DL Ind•pend•nt audltor MHA Statutory AuditNs 2 London Wall Place London EC2Y SAU Page I
THE EQ FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 30 APRIL 2025 The Trustees present their annual report together the audrted financial stslements of the Charty for the year l May 2024 10 30 April 2025. Objectfvos and actlvttl•$ Polic1•$ and objoctlves The aims of the Chanty, as stsled in its Constitution. are". - to help disa¢Jvantaged peop, mainty in the UK IhroLtgh grants. to make il easier for donors lo find effeclNe charities - to lower the Cost ol fund raising for highty effectNe chanties - to enhan the giving exForienee for donors The charity operates primanly by making mutti year grants lo other charitss or s¢xial enterprises and by funding directly its own inlbatsves to aid efficient grant making. b. Strat•gl$s for achlevlng obJ•ctlv In the perN under review the Charity made grants totalling £754,184 12024.. £748.8901, details ol which are provided in the loll¢)Wtng pages. GivingisGreal.org, our innovative charity search engine and web resource, continLEd to see growth in users and pageviews. c. Grant.m4klng pollcies The Trustees take app1rca1nS for grants in the IvJhl ol the Foundation's objectives. For new commilmenl$ a report is prepared and submitted to the Twslees for their cons(derakn'on. For ongoing institutions that re1ve grants, a review is undertaken lo ensure that all obligations of that inslrtub.on are being complied wlh. d. Maln actlvltl•s undertaken ¢0 further th• Charlty's purposes for the publlc bfrn•fft We have refeffed lo the gui¢Jance coniained in the Charity Commission's general guidanee on public benefit when reviewng our airns and objeetives and in planning our lnI and lulure ath'vilies. In particular the Trustees consider how planned &b"vilies wll contribute to the aims and obJ'ecliv¢s they have set and that the grants made in the per demonstrate the Charty's Publ benefiL Achkvements and pgrfom)nce a. Maln achlev•ments of Charity The charfy has made grants to 42 {2024.' 401 charitable organisatths in the pernd a5 Set out in Note 5. Further details of these organisabons can be lound on the EQ Foundatton's website." eqfoundalion.org.uk. Page 2
THE EQ FOUNDATION TRUSTEES, REPORT {CoriNuED) FOR THE YEAR ENDED 30 APRIL 2025 Achievom8nts and perfomian¢e l¢ontlnuedl b. Key perfomiane• Indlcators The Charity seeks lo obtain maximum impact from its grants programme by caiefulty SeCting reapient crganisalions that are able to provide evidence of their effectiveness. We continue lo monitor this performance prior lo making further grants. We monrtoi the perfomance of GivingisGreal.org by review¢ng the number of users of the sile and Iheii Jevel of engagement. On Tythe.org we monitor the number of subscribers and the total value of don8ts.ons made. c. Investm•nl policy and prfomianc? The charity holds preforence and ordinary shares in EQ Investors Limrted. is rag8rde(l as a long lem investment and the return is expected to aiise in the form of dNhfjend income. Flnan¢l•l rnvl a. Golng ¢oncem After making appropriate enquiries. the Trustees have a reasonablè expectation that the Charity has adequate resouT¢es lo continue in operatn81 existen lor the foreseeable future. For this reason, they continue lo adopt thè going wicern basis in preparing the finanual ststements. Further details regarding the adOptn of the going concern basis can be found in the accounts.ng polioes. b. Re8¢r408 poltcy The Charity currently seeks to hokd around reserves al around three to ni months of expenditure and the ygar end posrtion is slighuy in excess of that c. Prlnclpal rlok8 and uncertalntles The Trustees havè rrIed out a rev of tr* major risks to the Charity is eXsed. The principal categories of polenlral risks considered were Financial, Data and IT Secunty and Governance. They have assesse(I these risks and the mthgots'ng systems and procedu$ that are in place, including additional recommendations arising out ol the review, and a satisfied that these are adequate lo manage risks within their risk appets'le. In practice rhe Chanty onty makes grnnts and future commrtments lo further grants that are funded out of current liquid resources. d. Prln¢lpal lunding The Charity has historically been fvnded by donatws by J Swers. one of ihe Trustees. The TM51ees hope lo broaden the base of donalions in the future. Structure. governancg and management a. Constitutlon The EQ Foundation is a wistered charty, number 1161209, and is Constituted under a Trust deed. Page 3
THE EQ FOUNDATION TRUSTEES. REPORT ICONTINUEOI FOR THE YEAR ENDED 30 APRIL 2025 Structure, 9ov¢rnance and management {contlnu¢d) b. M•thods of appolntment or elecllon of Trust8es The management of the Charity is the responwbility of the Trustees who are ekcled and cwpled under the terms of the Twst deed. ¢. Oryanl$atlonal strucluro and decislon4naklng pollcl The Trustees meet as wuired duriThJ the perK¥J lo consider the Charty's strale9y and perfom)ance. As the Charity is on a reL3lively small scale at the present lime. the Trustees believe such meets'ngs are adequate to over the governance and management requiiements. The FOundatn 1$ established as a sole Member eharitable incorporated organisatn and the sole member is EQ Investors Group Limrted. d, Polic1 adoptgd for th• Inducllon and tralning of Tntst• Trustee induction is carried out on appointment of a Truslee and ongoing training is provided on formal and informal basis deFending on the siluab.on and as tefiis the size of the Chanty. •. Pay pollcy for key managemont lSon•1 The Charity does not culnIty remunerate key management pefsonnèl. f. R•lat•d party r¢latlon8hlps John Spiers is a Director of EQ Investors Group Limited. a company in which Ihe Foundation has an investment as noted in these financial slalemeftts. John Spiers, Mark Kenner and Mike Neumann are also directors ol EQ Investors Limited, a SubSlary of EQ Investors Group Limited. Plans for luture p•rlod• The Charity aims to continue ils granl-gmng %wrk. to develop further the GivingisGreal.org and Tythe.org alforms. and lo achieve increasing user numbers on these siles. Page4
THE EQ FOUNDATION TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 30 APRIL 2025 Stat¢ment of Tru$tees' responslbiliti The Trustees are sponSIb for preparing the Trvslees, Report and the finanoal statements In accordance with applicable law and United ltingdom Accounting Standards (United Ktngdom Generally Accepted Accounb'ng Praclre). The law applicable lo charities in England & WaLgS requi$ the Trustees to prepare financial statements for each financial year Whtt give a true and fair view ol the state of affairs of the Charity and of its incoming resources and appIatiOn of resources. induding its income and expen(liture. for that period. In prepaiing these financial stalemenls, the Trvstees are requi to". selecl Suitab accounting P)IleS and then apply them consistenty.. observe the methods and prinuples of the Charitses SORP IFRS 1021.. make judgments and accountsng eslimales that ale reasonable and PTudenl'. stale whether appIable UK Accounting Standards IFRS 1021 have t)een followed, subje¢i lo any material departUS discjosed and explained In the financial ststement$.' prepare the financial Statements on the going coneem basis unless il is inappropriate lo presume that the Charity will wnlinue in business. The Tiuslees are responsible lor keeping adequate aCunting records thal are sufficient lo show and explain the Charity's transactions and disclose with reasonable accuracy al any trme the financial posrtion of the Charity and enable them lo ensure that the finanal slalements comply wth the Charibes Act 2011, the Charity (Accounts and Reportsl Regulatsons 21)08 and the provisions ol the Trust deed. They are also responsible for safeguarding the assets ol the Charity anil hence for taking reasonable Steps fot the prèvenb'on and dgteclion of fraud and other irgu12r1tie$. 018¢lo$urg of Inlorniatlon to •udltor Each of the pe¥sons who are Trustees al the time when this Trustees, Report is approved has eonfinTred that. so lar as that Trustee b awa, there is no relevant audit infOmwtn of which the chariws aL•dilor is unaware, and that Trustee has taken all the steps Ihat ought to have been taken as a Trustee in Order lo be aware of any relevant audit inlomialion and to establish that the chaW$ audrtor is of that information. Audltor The au¢Jilor, MHA. has indted his Mllingness to continue in ofke. The deSnated Trustees will piowse a motion reappointing the audrtor al a meets'ng of the Trustees. Approved by order of the members ol the boafd of Tnjstees and spjned on their behalf ty. John Splers Trustee Dale.. Page 5
THE EQ FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE EQ FOUNDATION Oplnlon We have audrted the financial statements of The EQ FoundatK)n (the 'Charitl for the year ended 30 April 2025 which comprise the Slalement of Financ01 A¢b"vilies, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary ol significant acc£Junting policies. The financial reporbng framework that has been applied in Iheir pparatiOn is applicable law and United Kingdom Accounting Standards, including Financial Reporting Stsn(Jard 102 The Financial ReFthing Standard applicable In the UK and Rep(tblic of Ireland. (United Kingdom Generalty Aecepted Accounbng Praclicel. The financial statements have been prepared In aCLordance wth Accounting 8nd Reporting by Charities preparing their account$ in accordance wlh the Finarrial Reportin9 Slan¢Jards applieable in the UK and Republic of Ireland IFRS 1021 in Pfeleience lo the Accounting and Reporb'ng by Charities". Statement ol Recommended Practice issuefj on 1 April 2005 whtch is referred lo in the extant regulabons bvl has been wlhdrawn. This has been dong In order for the accounts to provide a true and fair view in accordance with the Generally Accepted Aceountsng Practice effect¢ve for reporting perrods beginning on or after 1 January 2015. In our opinion the financial statements.. give a IrLte an¢J lair view of Ihe stale of the charty's affairs as at 30 April 2025 and of its Incoming resources and application of resour$ for Ihe year then ended., have been propedy prepared in ac¢ordan¢e United Kingdom Generally Accepted Aceounling Practice,. and have been preparo(l in accordance with the requirements of the Charitios Act 2011. Bash for oplnlon We conducted our audil in accordance wu) Inlefnatignal Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those stsndards are further described in the Auditofs responsrbilith'es for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that ale relevant to our audit of the financial statements in the United Kingdom, including the Finaneial Reporting Council's Ethical Standard, and we have fulfilled our other èthical responsibilities in accordance with these reqU1Ments. We belydve that the 8udrt evKlence we have obtained is $uffi¢ienl and appropriate lo provide a bags for our opinNJn. Concluslons relatlng to golng con¢•m In auditing the financial slalemenls, we have concluded that the Trustees. use of the going concern basis of aOuntIng in the preparats'on of the financial slatsments is appropfiale. Based on the work we have perfomied. we have not Klentffied any material uncertainties relats'ng lo events or conditions that. individually or coltiVety, may (sl signrhcant doubt on the chanws ability lo continue as a going concern for a period of al least fvlve months from when the firnal statsments are aulhonsed for iss(te. Our responsibilibes and the reswnsibililies of the Trustees Imth resF*et to going ¢oncem are dexribed in the retevanl sectsons of this rewrt. Page 6
THE EQ FOUNDATION INDEPENOENT AUDITOR'S REPORT TO THE MEMBERS OF THE EQ FOUNDATION {CONTINUED) Other Infomiatlon The other information comprises the infom)alth included in the Annual Report other than the financial statements and our Auditorfs Report Ihereon. The Trustees a responsib for the other information Contained within the Annual Rert. Our opinion on the financrdl statements does not cover the other Information and, exoepl to the exlenl otherwise expl¢ciUy stated in oui report, we do not expiess any foTm of assurance conclusion Ihereon. Our responsibility is lo lead the other informab.on and, in doing so, consider whether the other information materially inconsistent wilh the financial statements or our knedge obtained in the course of the audit. or olhewse appears lo be matenally misstated If we identify such malenal inconsistencies or apparent material misstatements, we are required to delemine whether this gives iise lo a material misstatement in the financial statements themselves. If. based on the work we have performed, we nclude that there is a material misstatemenl of this other informatn, we ale required to report that lacL We have nothing lo report in this regard. Matt•rs on whlch w• ar• reqvlrgd to report by ex¢•ptlo We have nothing lo report in respect ol the foll¢Mng matters where the Charities IAccounts and Reports) Re9ul8lions 2008 qUireS us to rekx)rt lo you rf, in our opinion". the Informaln given in the Trustees. Report ts inconsi$tenl in any matgnal resFect the financwl slalemenls.. or sufficient accounting red$ have nol been kept.. or the linancial statements are not in agreement Mlh the accounting recofds and retums., or we havè not receNed all the informali¢)n and explanatK)ns V+E require fof our audit. Rtsponslbllltles of tru•t••s As explained more fulty in the Ttustees, Responsibililies Slalemenl, the Truslees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as ttTre Trustees determine is necessary to enable the PparatIOn ol financial statements Ihal are free from material misslalemenl. whether due lo fraud or error. In prepanng the linancial stslements, Ihe Trustees are respsib for assessing the charivs abilty lo continue as a going Concern, disclosing. as apPlble. matters related lo going concem and using the going concern basis of accounting unless the Trustees ether intend lo liqu#Jate the charity or to cease oper8b"ons. or have no realistic allernalive but to do so. Page 7
THE EQ FOUNDATION INDEPENDENT AUDOR's REPORT TO THE MEMBERS OF THE EQ FOUNDATION (CONTINUED) Audltorf$ rtspon8ibllltles for the audlt of the financlal Statements We have teen appointed a$ auditor under sectk)n 144 of the Charities Act 2011 and report in acLordance with the Ad and ielevant regulatn$ made or havir¥J effect thereunder. Our obieclives 8re to obtain 8$Onable assurance about whether the finanoal stslements as a whole are free frorn material misslalemenl. whether due lo fraud or error, and to Issue an Audilo¢s Report that includes our opinion. Reasonable assurance is a high Ve1 of assurance. byl is not a guarantee that an audit conducted in accordafflce with ISAS IUKI will aKvays delect a material misstatemenl when il exists. Misstatemènts can arise from fraud or error and are conside malersal if. indwidvally or in the aggregate, they could reasonably be expected lo influence the economic decisK)ns of user$ taken on the basis of these financial stalernenls. Irregularities, including Iraud, are instsnces of non<ompliance laws an(F regulatfv?ns. We design procedyTes in line with our responsibilrties, outlined above. lo delecl material misstatements in respect ol irregularities, including fraud. The extent lo which our procedures a capable of deteth.ng irregularities, including fraud Is delaiw below.. Enquiry of management, those charged with govemance around actual and potentsal liligalion and claims,. Enquiry of entity staff in compliance functions to idents'fy any instances of non<ompliance wth laws and regulations.. Perforning audit work over the risk of management overrKle of controls. including testing ol journal entries and other adjuslmenls lor approprtsiteness, evaluat*ng the businèss rationale ol svJnilinI transactions outside the normal course of business and revwing a¢c¢)unting estimates for bias., Reviewng minutes for meetsngs of those charged wlih goveinance., Reviewing financial slalemenls diselosures and testing lo $upp)rting documentation to assess wmplRnce wllh applicable laws and reguklions. A further deScriptn of our responsibilths for the audit of the finanwl statements is thated on the Financial Reporb'ng CoLtncil's website al." www frc. orsres Auditor's ReporL ililies. This deripts0n fom$ part of our Page 8
THE EQ FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE EQ FOUNDATION ICONTINUEDI U$e ol our report This r8POrt is made solety to the charit¢s trustees, as a body. in aecordance Part 4 of the Charf(ies {Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we mwJhl stale to the charity5 trustees those matters we are required to slate to them in an Audilorfs Report and lor no other purpgse. To the fullest exlenl permitted by law. we do not accepl or assume leSnsibIlity lo anyone other than the chaTIty and ils Iruslees. as a tr*xly, for our audit wth, lor this report, or for the opinions we have fom)ed. MHA Slalulory Auditors Lon(lon, United Kingdom Date.. L f MHA are eligible lo act as auditors in lems of seCtn 1212 of the Compan$ Act 2006. MHA is the trading name of MHA ALKfil Serwces LLP. a limited Ihqbilty partnership in England an¢J Wales Iregislered number OC4555421. Page 9
THE EQ FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2025 Restricted Unrestricted lunds funds 2025 2025 Total fund$ 2025 Total funds 2024 Notfr Incom• from". l)onalions and legacies Investments 158.884 661.264 201.035 820.128 201,03S 873,283 90, 757 Totsl Incom• 158,864 862,299 1,021.163 964,040 Exponditure on: Chartrlable acliwtbes 158,864 657.941 816.805 822, 114 Total exp•ndllure 158.864 657.941 816,805 822, 114 N¢t mov&m•nt In fund* 204,358 204.358 t41,926 R•conclllatlon of funds: Total funds brought lOard Nel movement in fvnds 4.340.780 204.358 4.340.780 204.358 4, 198,854 141,926 Total funds ¢arrl•d forward 4.$45,138 4.545.138 4,340, 780 The Statement of Financial Activths includes all gains and losses fttognised in the year. The note8 on pages 13 to 23 fom part of these finanual statements. Page 10
THE EQ FOUNDATION BALANCE SHEET AS AT 30 APRIL 2025 2025 2024 Note Flxed assets Investments 10 3.600.000 3,600.000 3,600,000 3.600,000 Current a$$et$ Debtors Cash at bank and in hand 7.688 943,450 3.745 742,435 951,138 746, 180 Current IlabilltSes Creditors.. amunts lalling due wthin year 12 16,0001 (5,400) N•t curr•nt asstts 945,138 740, 780 Total ass•t$ 10$$ curr•nt Ilablllti48 4,545,138 4,340,780 Total net ass•t$ 4,$4S,138 4,340,780 Charlty lund$ Reslricled funds Unrestrided funds 13 13 4,$45,138 4,340, 780 Total fund$ 4,545,138 4,340, 780 The financFal sL*ments were approved and authorised for issue by the Tru$lees on and suned on their beh811 by.. John Splern Trustee The notes on pages 13 to 23 fom part ofthese finanaal slatements. Page11
THE EQ FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 APRIL 2025 2025 2024 Cash flows from 0ratIng actlvhl Nel cash used in operating actr¥ibes {201 47,868 Cash tlows from Investing acllvltl Dividends. interesis and (ents from invesknents 201.035 90, 757 N•t ¢a$h provlded by inv•stlng a¢tlvltl•s 201,035 90,757 Chang• In cash and cash tqulvalents In the yer Cash and cash equiVantS al the beginning of the year 201.01S 138.626 603.810 742.435 Cash and cash oqulv•ltnts at the end ol year 943,450 742,435 The notes on pages 13 10 23 fomi part of these finarVal stments Page 12
THE EQ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 General Inlomiation The EQ Foundation is a Charity registered in England and Wales. The registered charity number is 1161209. The giStered offjce is gNen in the Trustees Annual Report. The financial statements are presented in p)und sterling whth is Ihe functional currency ol the Charty and rounded to the nearest pound. The EQ Foundation meets the definib.on of a Wb1 benefit entity under FRS 102. Assets and liabilities are initially rerngnised al historical Cost or transaction value unless otherwise slated in the ielevanl accounting licy. Accountlng pollcles 2.1 Basls of preparatlon ol financlal $tatom•nts The frnaneial siatemenls have been prepared in accordance wilh the Chafilies SORP IFRS 1021 ounling and Repoty'ng by Charities" Stalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republtc ol Ireland IFRS 102) (effective 1 January 20191, the Financial Reports'ng Stand8rd applicable In the UK and Republic of Ireland IFRS 1021 and the Charrties Act 2011. The fi'nancial slatsments have bttn prepared lo give a 'tn ar fairf view and have departed from the Charitses (Accounts and Reports) Regulations 2008 onty lo the extent requiieé to provide a 'truo and fairf view. This departure has involved followng ihe Charities SORP IFRS 1021 published in October 2019 ralner than the Ac¢ounb'ng and Reporting by Charities." Statement ol Recommended PractKe efflIve from 1 April 2005 whth has since been wilhdrawn. The EQ FoLtndatM)n meets the definrtron of a public benefit entity under FRS 102. Assets and liabilities are initialty recognised al h¢storKal co$1 or transact value unless OtheIse stated in the relevant accounting poIy. 2.2 Incixn• AJI income is recognised once the Charty has enb"tlemenl lo the income, 51 Is probable that the income will be received anLI the amounl of income rece¢vable can be measured reliably. Reslricled income repfesenis donabons recewed via the FOundatn.$ donalions plattorm8 and which is allocated according to the donors, wshes. Income tax recoverable in relation to investrnent income reccgnised al the lime the investment income is ieceNable. 2.3 Expenditur• Expenditure is recogntsed ¢)nce there is a legal or constructNe 019aOn to transfer ecnnomic benefit lo a third paty, it is probable that a transfer of economt beneffts will be reqvired in settlement and the amount of the obligalion can be measured reliably Expendrture is classified by activity. The costs of each actm.ty are made yp ol the lolal of direct costs and shared costs. in¢l(tding support costs involved in undertaking each aclivtty. Diieet costs attr'butable lo a single ath'vity are allocated directly to that activity. Shared costs which contn.bule lo more than one aclNity and support costs which are not attributsble to a ngle activity are apporb.oned beeen those aclivibes on a basis ¢cK)sislenl with the use of resources. Central staff costs are alk)cated on the basis of time spent, and depreciation charges allw*ed on the portK)n of the assefs use. Page 13
THE EQ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 202S A¢¢ountlng policies Iconllnued) 2.3 Expendituro Icontlnvedl Expenditure on charitsble actJ"vities is incurred on directty undertaking the athilies whch fvrther the Charitys obFctives. as well as any assLYiale<l support costs. Grants payabie are charged in the year when the offer is made eXpt in those cases where the offer 15 conditsonal, such giants being recognised as expenditure when the conditK)ns attaching are fulfilled. Granis offered subject lo condib.ons which have not been mel al the year end are noted as a commitmenl, bul not 8ccrued as expendrture. All expendrture is indusive of irrecoverable VAT. 2A Interest rKelvblt Interest on funds hekl on deposit is included when rKeivable and the amount can te measured reliably by Ihe Charjty. this 15 normalty urK)n nolificats'on of the interest pa or payable by the inslilulion wlh whom the funds are de[lled. 2.5 Invoslments Fixed asset investments are a form of financial instrument and are initially iecognised al thelr transaction cost and subsequently measured al fair value al the Balance Sheet date, unlg$s the value cannot be measured relBbly in which case il is measured at cost less impairment. Inve5tmgnl gains and losses, whether realised or unrealised, are combined aThJ presented as 'GainsllLossesl on investments, in the Slalemenl of Financial Aclivrtres. 2.6 Debtorn Trade and other debtors are recognised at the settlement amount after any trade diSUnt offered. Prepayments are valued al the amount prepahl nel of any trade d1SVnts due. 2.7 Cash at bank and In hand Cash al bank and in hand includes cash and short-ierm highly liquKI investments with a short maturity of three months or less from the date of a¢quisilion or opening of the deposit or Similar account 2.8 Llabllities and pmvl$lon¥ Liabilities are recognised when there is an obluabon al the Balance Sheet dale as a result of a past event, il is probable that a transler of economic benefit will required in settlement, and the amount ol the setuemenl can be estimateil reliabty. Liabilities are recoJnised al the amounl that the Chanty anticipates it will pay lo setue the debt or the amo¢Jnl it has receNed as advanced payments for the goods or services il musl prov#Je. Provisions are measured at the test estimate ol the amounts required lo settle the oblpation. Whe the effect of the lime value of money is material. the provision is based on the present value of those amounts, d15counled at the P-taX discount rate that refle¢15 the risks specific lo the liability. The unwinding of the discounl is [e¢jnIsed in the Slatement of Financ1 Actwities as a finance cost. Page 14
THE EQ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 Accounting pollcles {¢ontinuedl 2.9 Flnan¢lal instruments The Chartty only has financial assets and financial liabili1 of a kind that qualify as basic ftnancial instruments. Basic financ1 instruments are inilLally recognised al transaction value and subsequently measured at their settlement value with the eXCepn of bank loans whh are subsequenty measured at amortjsed cost using the effective interest method. 2.10 Fund a¢¢ountlng General funds are UnstrICted funds which are available for use at the discretion of the Trustees in furtherance of the general obiectives ol the Chanty and which have not been designated for other purpose$. Restricted funds are funds which are lo be used in accordance speciftc ¥e$tti¢lions imwsed by donors or which have been raised by the Charity for parb'cular purposes. The costs of raising and administering such funds are Charged against the specific fund. The arm and use ol each reslricted lund is set out in the notes to the financial statements. Investment income, gains and bsses are allocated lo the appropriate fund. Income from donatlons •nd lègaclos Restrl¢t¢d Unrestrlct•d funds lunds 2025 2025 Total lunds 2025 Donations 158,864 861,264 820.128 Reslricttrd Unreslncled funds funds 2024 2024 Total fvnds 2024 Donations 149.203 724,080 873,283 Page 15
THE EQ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 Investrnent income Unfeslrl¢t¢d funds 2025 Total funds 2025 Inveslrnenl income - dividends recewable from related paty Investment irKome- bank interest le1vable 175,742 25.293 175.742 25,293 201,035 201,035 Unresltycted lunds 2024 Total lunds 2024 Investment income- dividends receNable from related paty Investment income- bank inleiesl receivable 80.221 10,536 80,221 10,536 90. 757 90, 757 Analy818 of grants Grant8 to In$tltutlon$ 2025 Total funds 2025 Grants, direct costs 754,184 754.184 Grants to InStstUtns 2024 Total fvnds 2024 Grants, direct costs T48,890 748,890 Details ol grants payable lo institutions are gNen on the Foundation's website at https'.Ilgivingisgreal.orgldatabaseldon¢y-delaiV?donorfD=GB-CHC-1161209. Page 16
THE EQ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 202S Analys1$ of expenditure On charitable aetlvltles Summary by fund type Restricted Unr•strScted funds funds 2025 2025 Total 2025 Direct costs 158,864 657,941 816,806 Reslrict8d Unrestrr18d funds fvnds 2024 2024 Tot81 2024 Direci costs 149,838 6T2.276 822, 114 Analysls of exwndlturo by a¢¢lvltles Grant fundlng of actlvltles 2025 Support costs 2025 Totll fund$ 202S Direct costs 754.184 82,621 816.805 Gr8n( fvnding ol a¢lNities 2024 Support costs 2024 Totsl fUrS 2024 D1ct costs 748.890 73.224 822, 114 Page 17
THE EQ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 Analysls of oxpenditurs by activities {¢ontlnued) Analysls ol support costs Total funds 202S A¢tlvltie¥ 2025 Sofvare support Bank charges Wages cosls recharged Governance costs 1.552 627 53,182 7.260 1,652 627 53.182 7,260 62.621 62,621 rolal lunds 2024 Actiwtigs 2024 Soare supFort Bank charges Wages costs recharyed Consultancy fees Governance costs 1,257 675 1.257 675 47.499 17,793 6,000 47,499 17.793 73,224 73,224 Audltorfs r•mun•ratlon 2025 2024 Fees payable lo the Charivs audttor for the audrt of the Charitys annual aceounts 6,60Q Trustees. remuneratlon and expen$es During the year, rKJ Trustees recer¥ed any remunerntion or other benefit5 (2024- £NILJ. During the year ended 30 April 2025. Tntee expenses have been Frrred (2024- £NIL). Page 18
THE EQ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 10. Fixed asset Investments Unllsted Inv•stm•nts Cost or valuauon Al 1 May 2024 3,600.000 AI 30 April 2025 3.600,000 Not book value AI 30 April 2025 3,600,000 AI 30Apnl 2024 3,600,000 The investment represents 3.000,C(Q preferen shares and 6.0 ¢ydinary shares in EQ Investors Group Limited. 11. Debtorn 202S 2024 Due wlthln on• y•ar Olher debtors 7.688 3, 745 7,688 3,745 12. Cr•d5tor¥: Amounts falling due wlthln on• year 2025 2024 Accruals and deferred income 6,000 5,400 Page 19
THE EQ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 202$ 13. Statement of funds ststom•nt of furKls - Current year Balance at 30 Aprfl 2025 Balanc& at 1 May 2024 Income Expondltur• Unrostrl¢t•d funds General Funds - all funds 4,340.780 862.299 16S7.9411 4,545,138 Restrlctèd funds Restricted Funds- all fvnds 158,864 1158,8641 Total of funds 4.340,780 1.021.163 1816,8051 4.545.138 Page 20
THE EQ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 13. Statement of funds Iconlinuedl Stotement of fund$- prior year Balance al l May 2023 Balance al Inwne Expandilure 30 Aprrf 2024 Unrestricted funds General Funds- all fvnds 4. 198,219 814,837 (672,276) 4.340, 780 Restrlctod funds Tylhe 635 149.203 (149,8381 Total of fund$ 4, 198.854 964,040 (822, 114) 4,340, T80 14. Summary ¢1 lund Summary oflund8-¢urr•nt year Balanc• at 30 Aprll 2025 Balaft¢• at 1 May 2024 Income Exp•ndrture General funds Reslncled lunds 4.340.780 862,299 158,864 1657,941) 4,545.138 1158,8641 4.340,780 1.021,163 1816.8051 4,545,138 Summary of funds - prlor year B81ance al l May 2023 8alanc8 al Income Expendilure 30 Apnl 2024 General funds Restr)e funds 4, 198,2t9 635 814,837 149,203 (672,276) 4.340,780 (149.838) 4.198.854 964.040 (822, 114) 4,340, 780 Page 21
THE EQ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 15. Analysls ol not assets betwèen funds Analysrs of net assots betw¢•n funds- curront year Unrestricted funds 2025 Total funds 2025 Fixed asset investments Current assets Creditors due wttiin one year 3.600,000 951.138 16,OC4JI 3.600.000 951,138 16,000) Total 4,545.138 4.$45.138 Analys1• ol not assets b•twe•n funds - prtor year Unreslrict&d funds 2024 Tot81 lunds 2024 Fixed asset investments Current assets Ciedilors dLte within one year 3.600.000 746, 180 (5,400J 3,600,OOQ 746, 180 {5,400J Total 4,340. 780 4,340, 780 16. ReconcllSatlon of not mov•ment In funds to net cash flow from op•ratlng 4ctFvltl•s 2025 2024 Nel incoff* for the year las per Ststement of Finanual Activit) 204,358 141,926 Adjustments for. Dividends. interests and rents from investments InCaSe in debtors Inease in creditors 1201.0351 13,9431 600 (90,757) f3,307J Net cash pwvlded byllused Inl operdting actlvltles (201 47,868 Page 22
THE EQ FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 17. Anaty$ls of cash and cash èqufvalents 2026 2024 Cash in hand 943,450 742,435 Totsl Cash and ¢ash equlvalents 943,450 742,435 18. Anatysls of Changes In net d•bt A11May 2024 Cash flow8 At 30 Aprll 2026 Cash al bank and in hand 742,435 201,01S 943,460 742.435 201,016 943.450 R•lat•d party transa¢¢lons l)onatJons of £660,14412024.' £723,810) were received from J D SpÈrs. a Trustee. A wages recharge of £53.18212024'. £47.4991 has been mode from EQ Investots Limited, a company In which John Spiers, Mark Kenner and Mike Neumann were directors during the year. An amount ol £7.688 12024.. £3.7451 was due from EQ Inveslofs Limited at the year end. Dividend5 receivable as shown in these financial slatements are received from EQ Investors Gioup Limrted, the parent Company ol EQ Investors Limilfjd. Page 23