Docusign Envelope ID: FB99DF13-E443-4A07-8FB1-101E5FEF7C63 **REGISTERED COMPANY NUMBER: 09405449 (England and Wales) REGISTERED CHARITY NUMBER: 1162494** **ALQUITY TRANSFORMING LIVES FOUNDATION** **REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025** Mercer Lewin Ltd Chartered Accountants and Registered Auditors 6-7 Citibase New Barclay House 234 Botley Road Oxford OX2 0HP Docusign Envelope ID: FB99DF13-E443-4A07-8FB1-101E5FEF7C63 ## **ALQUITY TRANSFORMING LIVES FOUNDATION** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025** ||**Page**| |---|---| |**Report of the Trustees**|1 to 5| |**Report of the Independent Auditors**|6 to 8| |**Statement of Financial Activities**|9| |**Balance Sheet**|10| |**Notes to the Financial Statements**|11 to 14| |**Detailed Statement of Financial Activities**|15| Docusign Envelope ID: FB99DF13-E443-4A07-8FB1-101E5FEF7C63 ## **ALQUITY TRANSFORMING LIVES FOUNDATION** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The Charity receives a regular donation from Alquity Investment Management Limited, based on its revenues, and this forms the primary source of funding for the charity. In the current period and looking forward, the Trustees are focusing on projects that promote the creation of sustainable livelihoods (UN Sustainable Development Goal 8). Our continued commitment to this focus area is supported by the most recent data and insight provided by the UN and the International Labour Organization. As of 2024, 1 in 5 of the world's youth aged 15 to 24 were not in education, employment, or training (NEET). The gender gap within NEET rates also remains significant. In 2024, 14% of young men and almost 30% of young women were classified as NEET. The International Labour Organization (ILO) reported that the global youth unemployment rate was 12.8% 2024. While the overall rate is reducing, the recovery in youth employment has not been uniform across all regions. Some regions, particularly the Arab States, East Asia, and South-East Asia and the Pacific, continue to face higher youth unemployment rates than pre- pandemic levels. Furthermore, despite the overall decline, millions of young people still face challenges in finding decent work, and the ILO highlights concerns about the precarity of many jobs that are available. People in marginalized communities, like those served by our grantee partners, often lack the education, life skills, and technical knowledge needed for formal employment. Globally, over 60% of the workforce is in the informal economy, with significant regional variations; Africa has the highest percentage of informal employment (85.8%), followed by Asia and the Pacific (68.2%), and the Americas (40.0%). Jobs in the informal economy tend to be of lower value, lower quality, and are more precarious. Inadequate education systems are a key contributory factor holding back the potential of economically disadvantaged populations. In many emerging market countries, more than 30% of students leave middle school having failed to achieve elementary school achievement levels in numeracy and literacy. As a result, they enter the workforce unprepared, limiting their ability to secure well-paying jobs - and with limited opportunities, many young people turn to gangs, lured by promises of easy income-often leading to injury, incarceration, or death. Far too often, women are left behind and under-represented in political and economic decision- making processes and in the labour market. According to UN Women, in 2024, women's labour force participation in emerging markets shows significant regional disparities, with high rates in sub-Saharan Africa (Madagascar 82.6%, Nigeria 80.7%) and very low rates in parts of South Asia and the Middle East (India 32.8% in Southeast Asia, Afghanistan 5.1%). In 2024, care responsibilities remain the primary barrier, keeping over 700 million women globally out of the workforce. The global gender gap remains roughly 30 percentage points. Without decisive action, it could take another 68 years to achieve equal pay (UN). With this context in mind, the focus of the Foundation is on social and economic challenges that changes in corporate behaviour alone cannot address. The Foundation's grants and financial support aim to: - Help develop fairer, more sustainable economies that deliver inclusive long-term growth in the countries where Alquity invests, - - Support local entrepreneurs and SMEs to develop or grow their businesses, - Support economic and social inclusion, particularly of women and girls. 1 Docusign Envelope ID: FB99DF13-E443-4A07-8FB1-101E5FEF7C63 ## **ALQUITY TRANSFORMING LIVES FOUNDATION** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025** ## **Objectives and aims - continued** Historically, the Foundation has given out grants to charity partners focusing on: - Providing access to formal education and employment, - Targeting sections of the community discriminated against or excluded due to social norms and pressures, - Providing support and access to finance to overcome poverty traps and help responsibly run small and medium enterprises to scale and create employment opportunities. ## **ACHIEVEMENTS AND PERFORMANCE** ## **Charitable activities** During the year ending 30 June 2025 the Foundation focused primarily on the preparation and delivery of the Transforming Lives Awards programme, which is the Foundation's flagship initiative for identifying and supporting high-impact organisations working to improve livelihoods and economic opportunity in emerging markets. The Transforming Lives Awards are designed to identify and recognise outstanding social enterprises and community organisations whose work contributes to inclusive economic growth, employment creation, and improved livelihood opportunities for marginalised communities. During the reporting period the Foundation designed and launched the 2025 Awards process and undertook a global search to identify promising organisations aligned with the Foundation's objectives. This process involved the review of expert intermediary organisations and the selection of EMpower, The Emerging Markets Foundation to act as the facilitation partner for the awards and subsequent grant making process. A grant of £100,000 was agreed with EMpower to cover: - EMpower's facilitation of the Awards process, - The funding (sub-grants) for disbursement to the awardees, - The management of the sub-grants and provision of accompaniment and technical support as required by the awardees. 25 Awards candidates from EMpower's global grantee portfolio were reviewed alongside candidates identified in collaboration with Alquity investee companies as well as through Alquity staff recommendations. Following a structured shortlisting process including review by an independent panel in June 2025, the Trustees selected three organisations as Transforming Lives Award recipients: - ROLE Foundation, based in Indonesia, which works to support sustainable livelihoods for adolescent girls and environmental stewardship through community-based training and enterprise development. - Aspire Youth, in South Africa - an organisation supporting young people through programmes designed to build employability skills, confidence and pathways into work. - Sozo Foundation, also based in South Africa, which works with young people in disadvantaged communities to provide education, life skills and employment opportunities. The selection of these organisations took place within the reporting period, with the grant funding provided to EMpower and partnership agreements with the awardees progressing in the subsequent financial year. Grant allocations to the three organisations totalled approximately $84,500, with ROLE Foundation receiving $32,500, Sozo Foundation $32,000, and Aspire Youth $20,000. A further allocation of approximately $23,000 was reserved for a second round of grants to the same organisations, alongside £20,000 retained by EMpower to provide technical support, accompaniment, and knowledge sharing across the partnership during 2026. 2 Docusign Envelope ID: FB99DF13-E443-4A07-8FB1-101E5FEF7C63 ## **ALQUITY TRANSFORMING LIVES FOUNDATION** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025** Through the Awards selection process, the Foundation also identified a co-funding opportunity with Mr Price Foundation in South Africa (the corporate foundation of an Alquity investee company, Mr Price) to support an innovative urban farming enterprise development programme working with disadvantaged youth. Joint planning continued through year-end with the intention to commence financial support in the following financial year. During the year the Foundation also agreed a parallel co-funding arrangement with the Ashmore Foundation in support of the ROLE Foundation in Indonesia. Both organisations committed to provide $32,000 to ROLE in the subsequent financial year, with Ashmore funding sixteen girls through ROLE's BaliWISE skills training programme and ATLF funding the construction of a new bamboo classroom facility. The classroom will benefit all BaliWISE students - approximately 100 per year - as well as the broader community of participants engaged through ROLE's ZeroWaste programme, estimated at 1,400 people annually. While the two grants operate independently and through separate channels, the Foundation worked with ROLE to integrate both into a single reporting and accountability framework, reducing the administrative burden on the organisation and strengthening the coherence of the overall investment. Alongside the Awards programme, the Trustees continued to engage with and monitor the progress of organisations supported through previous Transforming Lives Awards cycles and other grant partnerships. During the year, the Trustees also undertook a review of programme-related investments held by the Foundation to ensure that their valuation and accounting treatment remained appropriate and reflected current circumstances. ## **FINANCIAL REVIEW** ## **Financial position** During the year the Foundation received £62,648.40 in donations from Alquity Investment Management. No grants or new programme-related investments were made during the reporting period. During the year the Foundation recruited a Foundation Lead on a two-days-per-week basis, commencing in March, to support the delivery of the 2025 Transforming Lives Awards programme. The Trustees also undertook a review of the Foundation's programme-related investments, and provisions were made against the values of those investments where considered appropriate. ## **Reserves** At all times, the Foundation's policy is to maintain a minimum of £25,000 of cash (or cash-like instruments) reserves. In addition, it is the intent that any future committed grants would be covered by existing reserves and a maximum of 50% of the annualised, current three-month donation accrual rate. If 50% of the current rate is insufficient, then the donations stream will be used to accumulate a cash balance until such time as this metric is met. The Foundation continued to hold some of its cash reserves with Oikocredit, a social impact investment organisation that provides loans to microfinance institutions and other enterprises in developing countries. During the period the Trustees indicated their intention to withdraw the remaining funds held with Oikocredit in order to support the resourcing of the 2025 Transforming Lives Awards programme in the subsequent financial year. The withdrawal of these funds was completed following the year end, with the full balance returned to the Foundation. 3 Docusign Envelope ID: FB99DF13-E443-4A07-8FB1-101E5FEF7C63 ## **ALQUITY TRANSFORMING LIVES FOUNDATION** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025** ## **FUTURE PLANS** Following the successful identification of three new awardee organisations through the 2025 Transforming Lives Awards process, the Foundation moved swiftly to establish partnerships with the selected organisations. Following the year end, grant agreements were completed with all three Transforming Lives Award recipients - ROLE Foundation, Aspire Youth, and Sozo Foundation - with funding disbursements commencing in the subsequent financial year, focusing on youth employment readiness, livelihoods, and economic inclusion in South Africa and Indonesia. A co-funding arrangement with Mr Price Foundation also progressed to commitment stage for funding in 2026. The Foundation also intends to continue strengthening engagement with Alquity colleagues and partners in order to expand the reach and impact of its charitable activities. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 09405449 (England and Wales) ## **Registered Charity number** 1162494 ## **Registered office** 9 Kingsway London WC2B 6XF ## **Trustees** D M Brocklebank Chair V A P Giridhar Gopal P H Robinson Co-chair ## **Auditors** Mercer Lewin Ltd Chartered Accountants and Registered Auditors 6-7 Citibase New Barclay House 234 Botley Road Oxford OX2 0HP 4 Docusign Envelope ID: FB99DF13-E443-4A07-8FB1-101E5FEF7C63 ## **ALQUITY TRANSFORMING LIVES FOUNDATION** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees (who are also the directors of Alquity Transforming Lives Foundation for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: - there is no relevant audit information of which the charitable company's auditors are unaware; and - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. ## **AUDITORS** The auditors, Mercer Lewin Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting. Approved by order of the board of trustees on 23 March 2026 and signed on its behalf by: ................................................................. P H Robinson - Trustee 5 Docusign Envelope ID: FB99DF13-E443-4A07-8FB1-101E5FEF7C63 ## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ALQUITY TRANSFORMING LIVES FOUNDATION** ## **Opinion** We have audited the financial statements of Alquity Transforming Lives Foundation (the 'charitable company') for the year ended 30 June 2025 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 30 June 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or - the charitable company has not kept adequate accounting records; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. 6 Docusign Envelope ID: FB99DF13-E443-4A07-8FB1-101E5FEF7C63 ## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ALQUITY TRANSFORMING LIVES FOUNDATION** ## **Responsibilities of trustees** As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for 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 of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## **Our responsibilities for the audit of the financial statements** We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: - We discussed the framework in which the company operates with senior management and in conjunction with our experience of the industry in which the company operates, sought to identify laws and regulations which are critical to the company's business. As a registered charity, the company is obliged to comply with regulations issued by The Charity Commission of England and Wales. Compliance with those regulations, including the need to make reports to the commission/regulator, was reviewed. - As part of routine audit procedures, the possibility of non-compliance with general laws (e.g., employment law, health and safety regulations) were considered, in response to the assessed risks in relation to these laws and regulations. - The risks of fraud were discussed with senior management, including details of any known instances. Our records of the company's systems and procedures was reviewed by the audit team (including the audit engagement partner) to identify possible areas where fraud might occur. - The above procedures were undertaken by the audit team as a whole, led by the audit engagement partner. In this way the audit engagement partner was able to obtain assurance the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations and the possibility of irregularities arising from fraud. - To address the risk of fraud through management bias and override of controls, we: - performed analytical procedures to identify any unusual or unexpected relationships; - tested journal entries to identify unusual transactions; - assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and - investigated the rationale behind significant or unusual transactions. - In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: - agreeing financial statement disclosures to underlying supporting documentation; - reading the minutes of meetings of those charged with governance; and - enquiring of management as to actual and potential litigation and claims. 7 Docusign Envelope ID: FB99DF13-E443-4A07-8FB1-101E5FEF7C63 ## **REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ALQUITY TRANSFORMING LIVES FOUNDATION** ## **Our responsibilities for the audit of the financial statements – continued** - There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. - Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Management Committee and other management and the inspection of regulatory and legal correspondence, if any. - Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. ## **Use of our report** This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Mercer Lewin Ltd Chartered Accountants and Registered Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 6-7 Citibase New Barclay House 234 Botley Road Oxford OX2 0HP Date: 23 March 2026 8 Docusign Envelope ID: FB99DF13-E443-4A07-8FB1-101E5FEF7C63 ## **ALQUITY TRANSFORMING LIVES FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025** |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
131,375
Investment income
2
-
**Total**
131,375
**EXPENDITURE ON**
Raising funds
3
42,518
**Charitable activities**
Sustainable development
10,798
**Total**
53,316
Net gains/(losses) on investments
(9,979)
**NET INCOME**
68,080
**RECONCILIATION OF FUNDS**
Total funds brought forward
442,581
**TOTAL FUNDS CARRIED FORWARD**
510,661|Restricted
fund
£
-
-
-
-
-
-
-
-
-
-|2025
Total
funds
£
131,375
-
131,375
42,518
10,798
53,316
(9,979)
68,080
442,581
510,661|2024
Total
funds
£
68,063
250
68,313
-
55,662
55,662
-
12,651
429,930
442,581| |---|---|---|---| The notes form part of these financial statements 9 Docusign Envelope ID: FB99DF13-E443-4A07-8FB1-101E5FEF7C63 ## **ALQUITY TRANSFORMING LIVES FOUNDATION** ## **BALANCE SHEET 30 JUNE 2025** |Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Debtors
7
105,581
Investments
8
388,768
Cash at bank
21,412
515,761
**CREDITORS**
Amounts falling due within one year
9
(5,100)
**NET CURRENT ASSETS**
510,661
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
510,661
**NET ASSETS**
510,661
**FUNDS**
10
Unrestricted funds
**TOTAL FUNDS**|Restricted
fund
£
-
-
-
-
-
-
-
-|2025
Total
funds
£
105,581
388,768
21,412
515,761
(5,100)
510,661
510,661
510,661
510,661
510,661|2024
Total
funds
£
287,522
138,747
21,412
447,681
(5,100)
442,581
442,581
442,581
442,581
442,581| |---|---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025. The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 23 March 2026 and were signed on its behalf by: ............................................. P H Robinson - Trustee The notes form part of these financial statements 10 Docusign Envelope ID: FB99DF13-E443-4A07-8FB1-101E5FEF7C63 ## **ALQUITY TRANSFORMING LIVES FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025** ## **1. ACCOUNTING POLICIES** ## **BASIS OF PREPARING THE FINANCIAL STATEMENTS** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **INCOME** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **EXPENDITURE** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing 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 accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **TAXATION** The charity is exempt from corporation tax on its charitable activities. ## **FUND ACCOUNTING** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **2. INVESTMENT INCOME** |**INVESTMENT INCOME**|||| |---|---|---|---| ||2025||2024| ||£||£| |Interest received||-|250| 11 continued... Docusign Envelope ID: FB99DF13-E443-4A07-8FB1-101E5FEF7C63 ## **ALQUITY TRANSFORMING LIVES FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025** ## **3. RAISING FUNDS** ## **RAISING DONATIONS AND LEGACIES** |Support costs
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration|2025
£
42,518
2025
£
2,250||2024
£
-
2024
£
2,700| |---|---|---|---| ||||| ## **4. NET INCOME/(EXPENDITURE)** ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 June 2025 nor for the year ended 30 June 2024. ## **TRUSTEES' EXPENSES** There were no trustees' expenses paid for the year ended 30 June 2025 nor for the year ended 30 June 2024. ## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
68,063
Investment income
250
**Total**
68,313
**EXPENDITURE ON**
**Charitable activities**
Sustainable development
55,662
**NET INCOME**
12,651
**RECONCILIATION OF FUNDS**
Total funds brought forward
429,930
**TOTAL FUNDS CARRIED FORWARD**
442,581|Restricted
fund
£
-
-
-
-
-
-
-|Total
funds
£
68,063
250
68,313
55,662
12,651
429,930
442,581| |---|---|---| 12 continued... Docusign Envelope ID: FB99DF13-E443-4A07-8FB1-101E5FEF7C63 ## **ALQUITY TRANSFORMING LIVES FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025** |**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Alquity Investment Management
**8.**
**CURRENT ASSET INVESTMENTS**
Programme related investments
OIKO investment
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accruals
**10.**
**MOVEMENT IN FUNDS**
At 1/7/24
£
**Unrestricted funds**
General fund
442,581
**TOTAL FUNDS**
442,581
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
131,375
(53,316)
**TOTAL FUNDS**
131,375
(53,316)||2025
£
105,581
2025
£
338,768
50,000
388,768
2025
£
5,100
Net
movement
in funds
£
68,080
68,080||| |---|---|---|---|---| |||||| |||||| ||||
|| ||
|Gains and
losses
£
(9,979)
(9,979)||| ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/7/23
£
429,930
429,930|Net
movement
in funds
£
12,651
12,651|At
30/6/24
£
442,581
442,581| |---|---|---|---| 13 continued... Docusign Envelope ID: FB99DF13-E443-4A07-8FB1-101E5FEF7C63 ## **ALQUITY TRANSFORMING LIVES FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2025** ## **10. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|68,313|(55,662)|12,651| |**TOTAL FUNDS**|68,313|(55,662)|12,651| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/7/23
£
429,930
429,930|Net
movement
in funds
£
80,731
80,731|At
30/6/25
£
510,661
510,661| |---|---|---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
199,688
199,688|Resources
expended
£
(108,978)
(108,978)|Gains and
Movement
losses
in funds
£
£
(9,979)
80,731
(9,979)
80,731| |---|---|---|---| ## **11. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 30 June 2025. 14 Docusign Envelope ID: FB99DF13-E443-4A07-8FB1-101E5FEF7C63 ## **ALQUITY TRANSFORMING LIVES FOUNDATION** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Investment income**
Interest received
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Rates and water
Donations payments
Website costs
**Support costs**
**Management**
Wages
Social security
Pensions
Advertising
Sundries
**Finance**
Bank charges
Exchange rate gains/losses
**Governance costs**
Auditors' remuneration
Professional fees
Total resources expended
**Net income before gains and losses**
**Realised recognised gains and losses**
Realised gains/(losses) on programme
related investments
**Net income**|2025
£
131,375
-
131,375
-
10,600
198
10,798
27,500
3,173
303
-
372
31,348
-
-
-
2,250
8,920
11,170
53,316
78,059
(9,979)|2024
£
68,063
250
68,313
6,105
20,036
870
27,011
20,071
2,770
-
1,850
-
24,691
28
1,232
1,260
2,700
-
2,700
55,662
12,651
-
12,651| |---|---|---| ||68,080|| This page does not form part of the statutory financial statements 15