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¢l*l Activitl 10 Balance Sheet 11 Stat*m¢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$s for achlevlng obJ•ctlv In the perN* under review the Charity made grants totalling £754,184 12024.. £748.8901, details ol which are provided in the loll¢)Wtng pages. GivingisGreal.org, our innovative charity search engine and web resource, continLEd to see growth in users and pageviews. c. Grant.m4klng pollcies The Trustees take app1rca1￿nS for grants in the IvJhl ol the Foundation's objectives. For new commilmenl$ a report is prepared and submitted to the Twslees for their cons(derakn'on. For ongoing institutions that re￿1ve 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 ￿l￿nI 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 {Co￿riNuED) 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 Se￿Cting 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 operat￿n81 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 adOpt￿n 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 eX￿sed. 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$atlonal strucluro and decislon4naklng pollcl The Trustees meet as wuired duriThJ the perK¥J lo consider the Charty's strale9y and perfom)ance. As the Charity is on a reL3lively small scale at the present lime. the Trustees believe such meets'ngs are adequate to over the governance and management requiiements. The FOundat￿n 1$ established as a sole Member eharitable incorporated organisat￿n 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 cul￿nIty 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 SubS￿lary 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 Wh￿tt give a true and fair view ol the state of affairs of the Charity and of its incoming resources and appI￿atiOn 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)I￿leS 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 appI￿able UK Accounting Standards IFRS 1021 have t)een followed, subje¢i lo any material departU￿S discjosed and explained In the financial ststement$.' prepare the financial Statements on the going coneem basis unless il is inappropriate lo presume that the Charity will wnlinue in business. The Tiuslees are responsible lor keeping adequate aC￿unting records thal are sufficient lo show and explain the Charity's transactions and disclose with reasonable accuracy al any trme the financial posrtion of the Charity and enable them lo ensure that the finan￿al slalements comply wth the Charibes Act 2011, the Charity (Accounts and Reportsl Regulatsons 21)08 and the provisions ol the Trust deed. They are also responsible for safeguarding the assets ol the Charity anil hence for taking reasonable Steps fot the prèvenb'on and dgteclion of fraud and other ir￿gu12r1tie$. 018¢lo$urg of Inlorniatlon to •udltor Each of the pe¥sons who are Trustees al the time when this Trustees, Report is approved has eonfinTred that. so lar as that Trustee b awa￿, there is no relevant audit infOmwt￿n of which the chariws aL•dilor is unaware, and that Trustee has taken all the steps Ihat ought to have been taken as a Trustee in Order lo be aware of any relevant audit inlomialion and to establish that the chaW$ audrtor is of that information. Audltor The au¢Jilor, MHA. has ind￿ted his Mllingness to continue in ofke. The deS￿nated 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 'Charit￿l 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 p￿paratiOn 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 reqU1￿Ments. 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 a￿OuntIng 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 col￿tiVety, may (*sl signrhcant doubt on the chanws ability lo continue as a going concern for a period of al least fv*lve months from when the fir￿n￿al 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 Re￿rt. 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 kn￿edge 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 informat￿n, 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 Informal￿n given in the Trustees. Report ts inconsi$tenl in any matgnal resFect the financwl slalemenls.. or sufficient accounting re￿d$ 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 P￿paratIOn ol financial statements Ihal are free from material misslalemenl. whether due lo fraud or error. In prepanng the linancial stslements, Ihe Trustees are resp￿sib￿ for assessing the charivs abilty lo continue as a going Concern, disclosing. as apPl￿ble. 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 AUD￿OR'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 regulat￿n$ 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