THE EUREKA CHARITABLE TRUST Registered Charity No: 1163448 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 June 2025
The Eureka Charitable Trust Trustees Report for the year ended 30 June 2025 The Trustees present their report along with the financial statements of the Trust for the year to 30 June 2025. The Trust is a CIO (Charitable Incorporated Organisalionl and is registered with the Charity Commission for England and Wales with registered charity number 1163448. Trustees C. Musgrave D. Ford E. C. Appleford M. Edlin l. Calabresi A. Latham (Retired 1 March 20261 (Appointed 1 September 20251 The Trustees, as shown above, were appointed by the Trust Deed, and subsequent Trustees can be appointed by them. All the Trustees receive regular updates on the charity sector. Principal Office George House 131 Sloane Street London, SW1X gAT Bankers Naest Bank PIC City of London Office 1 Princes Street London EC3P 3AR Auditors Moore Kingston Smith LLP Chartered Accountants Floor 6 9 Appold Street London EC2A 2AP Solicitors Bales Wells 10 Queen Street Place London EC4R 18E Objects. Activities and Public Benefit The objects of the Trust are exclusively for charitable purposes for the benefit of the public in any part of the world as the Trustees May in their absolute discretion think fil. The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard lo the Charity Commission's general guidance on public benefiL Achlevements, Performance and Flnanclal Revlew The Trust donated £2,636,543 12024.. £2,567,521) lo various other charities around the worfd as detsiled in note 3 to the accounts. The focus of donationslgranls during the year has been to support charities furthering children's education and wellbeing. During the year the "MW TOPS Wildlife Conservation Projecy, continued ils support of UK-based charities that seek to conserve or restore habitats and ecosystems, both marine and land-based. The mandate has supported projects Including CPRE'S Hedgerow Heroes, WildFish's Smart Rivers programme and Planllife's Road Verge Management Project. All awards and donations have been made in keeping with the Trust guidelines and objects'ves of the CIO Constitution. Page.. 1
The Eureka Charitable Trust Trustees Report for the year ended 30 June 2025 (Continued) Grant Policy The Trustees give careful consideration to each potential grant before a decision is taken lo support a charitable organisalion. The Trustees consider recommendations received from charity Committees in New York, London and Asia. Each Committee comprises of volunteers from Marshall Wace, the main donor lo the Trust. The process includes review of the profile of the charity and the potential impact resulting from donation. The Committees actively seek regular reports and updates on progress from the charities which are approved for grants and donations by the Trust. The grants are given at arm's length, for use in on-going charitable activities of an organisalion. Investments Policy The investment objective is to al least maintain the real value of the Charity's assets and generate a real return on assets before they are disbursed on gmnts and charitable activities. A key risk to the long term financial sustainability of the Charity is inflation, and the assets should be invested lo mitigate this risk over the long term. The Trustees are able lo tolerate volatility of the capital value held by the Charity, as long as the Charity is able lo meet Ils short term grant making commitments through either income or liquid capital assets. Reserves Policy The Trustees ensure the Trust holds sufficient working capital for the ongoing grant commitments. Reserves have been built up lo fund future grant activities. The current capitsl value of the investments currenuy stands at £15,822,301 12024.. £12,724,229). Unreslricled funds (those expendable at the discretion of the Trustees) urrenlly show a surplus of £13,796,512 12024.. £10.918,7021. There were £3,161,037 12024.. £2,985,681) restricted funds carried forward al the year end. The Trustees review this policy on an annual basis. Risk Management The major risks lo which the Trust is exposed, as identified by the Trustees, have been reviewed and the Trustees are satisfied that the processes are in place lo mitigate those risks. There is a risk we will not attract sufficient philanthropic capitsl to continue lo meet the Trust's commitments. Mib"galion.' The Trust conlinualty assesses its level of reserves before committing to grants payable to ensure the Trust always has sufficient reserves to continue operations. There is a risk that the investments will not yield sufficient retums to fund the Trusfs commitments. Mib'galion.. The Trustees review the investments made by the Trust regularly and would take appropriate steps in the event there were insufficient returns on the Trust's investment portfolio. Key management and remuneration policy The Trustees are not remunerated and the Trust has no employees. Appointment of new Trustoes New Trustees may be appointed by the Trustees, lo fill a vacancy or as an additional Trustee. The Trust shall select appropriate Trustees and provide them with an induction to acquaint them with the governance and policies of the Trust as well as what is expected of them in their new role. Additional training andlor informab'on wll be provided to the Trustees on an ongoing basis. Future Plans The Trustees plan to pursue a policy of continuity over the coming e1ve months, with no major operational changes forecast for the coming year. Page.. 2
The Eureka Charitable Trust Trustees Report for the year ended 30 June 2025 (Continued) statement of Trustees. Responsibilities The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Charity law requires the Trustees to prepare financial stslements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice Iuniled Kingdom Accounting Standards and applicable lawl. The financial statements are required by law to give a true and fair view of the slate of affairs of the Trust and of the income and expenditure of the Trust for that period. In preparing these fi'nancial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistentty., observe the methods and principles in the Charities SORP., make judgments and eslimales that are reasonable and prudent., stste whether applicable UK Accounting Standards have been followed, subject to any material prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will eontinue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any lime the financial position of the Trust and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Audit Infomiation So far as each of the Trustees at the lime the Trustees, report is approved is aware.. there is no relevant information of which the auditors are unaware,. and they have taken all relevant steps 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 Moore Kingston Smith LLP continued lo be the auditors during the period. On behalf of the Truslees".- Trustee Dale." 30104r2026 Page.. 3
Independent Auditors Report to the Trustees of The Eureka Charitable Trust Oplnlon We have audited the financial statements of The Eureka Charitable Trust for the year ended 30 June 2025 which comprise the Statement of Financial Aclivilies, the Balance Sheet, the Cash Flow Statement 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, including FRS 102 'The Financial Reporting Standard Applicable in the UK and Ireland, {Uniled Kingdom Generally Accepted Accounting Praclicel. In our opinion the fi'nancial statements.. give a true and fair view of the slate of the charity's affairs as al 30 June 2025, and of its incoming resources and applieation of resources, for the year then ended", have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi., and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISASIUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the audit of financial ststemenls section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo 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 lo 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 concem 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 lo events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concem for a period of at least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the relevant sections of this report. Other information The other Information comprises the information included in the annual report, other than the financial slalements and our auditor's report Ihereon. The Trustees are responsible for the other information. Our opinion on the financial ststemenls does not cover the other information and, except lo the extent otherwise explicitly staled 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 lo 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 lo be materially misstated. If we identify such material inconsistencies or apparent material misslatemenls, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required lo report that fact. We have nothing lo report in this regard. Page.. 4
Independent Auditors Report to the Trustees of The Eureka Charitable Trust Matters on which we are required to report by exception We have nothing lo report in respect of the following matters where the Charities Act 2011 requires us to report lo you if, in our opinion.. the information given in the Trustees, Annual Report is inconsistent in any material respect with the financial statements., or the charity has not kept adequate accounting records., or the fi'nancial statements are not in agreement with the accounting records and returns,. or we have not received all the information and explanations we required for our audit. Responsibilities of Trustees As explained more fully in the Trustees, responsibilities ststemenl sel out on page 3, the Trustees 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 stslements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going oncern basis of accounting unless the Trustees either intend lo liquidate the charity or lo cease operations, or have no realistic alternative bul to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and reFX)rt in accordance with regulations made under section 154 of that Act. Our objectives are lo obtain reasonable assurance about whether the financial slalements as a whole are free fmm material misstatement, whether due to fraud or error, and to issue an auditor's report 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 IUKI will always detect a material misststemenl when it exists. Misstatements can arise from fraud or error and are considered material if, Individually or in aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial ststements. As part of an audit in accordan wth ISAS IUKI we exercise professional judgement and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of material misstatement of the financial statements, whether due lo fraud or error, design and perform audit procedures responsive lo those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misslatemenl resulting from fraud is higher than for one resulting from error, as fraud May involve collusion, forgery, intentional omissions, misrepresentations, or the override of Internal control. Obtsin an understsnding of internal control relevant lo the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the charity's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees. Conclude on the appropriateness of the Trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability lo continue as a going concern. If we conclude that a material uncertainty exists. we are required lo draw allenlion in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, lo modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity lo cease lo continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. Page.. 5
Independent Auditors Report to the Trustees of The Eureka Charitable Trust Auditor's responsibilities for the audit of the financial statements (continued) We communicate with those charged with governance regarding, among other matters, the planned scope and liming of the audit and significant audit findings, including any significant deficiencies in Internal control that we identify during our audit. Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-complian with laws and regulations. We design procedures in line with our responsibilities, outlined above, to delecl material misslatemenls in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. The objectives of our audit in respect of fraud, are,. lo identify and assess the risks of material misstatement of the financial statements due to fraud," to obtain sufficient appropriate audit evidenee regarding the assessed risks of material misstatement due lo fraud. through designing and Implementing appropriate responses to those assessed risks,. and to respond appropriately lo instances of fraud or suspected fraud idenlilied during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charity. Our approach was as follows.. We obtained an understanding of the legal and regulatory requirements applicable lo the charity and considered that the most significant are the Charities Act 2011, the Charities SORP, and UK financial reporting standards as issued by the Financial Reporting Council. We obtained an understanding of how the charity complies with these requirements by discussions with management and those charged with governance. We assessed the risk of material misslalement of the financial slatemenls, including the risk of material misstatement due lo fraud and how it might occur, by holding discussions with management and those charged with governance. We inquired of management and those charged with govemance as to any known instsnces of non- ompliance or suspected non-compliance with laws and regulations. Based on this understsnding, we designed specific appropriate audit prOdureS to identify instances of non- compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required. There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not delecling a material misslalement due lo fraud is higher than the risk of not deleeting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. Use of our report This report is made solely lo the charity's Trustees, as a body, in accordance with Chapter 3 of Part 8 of the Charities Act 2011. Our audit work has been undertaken so that we might stste lo the charity's Trustees those matters we are required lo state to them in an auditor's report and for no other purpose. To the fullest exlenl permitted by law, we do not ac¢epl or assume responsibility lo any party other than the charity and charity's Trustees as a body, for our audit work, for this report, or for the opinion we have formed. IA,',?sb (Lf Moore Kingston Smith LLP Chartered Accountants and Statutory Auditors Floor 6 9 Appold Street London EC2A 2AP Moore Kingston Smith LLP is eligible to act as auditor in terms of Section 1212 of the Companies Act 2006. Page.. 6
The Eureka Charitable Trust Statement of Financial Activities For the year ended 30 June 2025 Year ended Restricted UnrgStri¢tod 30 Jung funds funds 2025 Year ended 30Jung 2024 Note Income from: Donations.. Donations received 3,317,675 3,317,675 767,706 Investment income Sundry income Total 8,346 11,710 8,346 11,710 9,831 10,602 3,337,731 3,337,731 788,139 Expenditure on: Charitable Activities.. Grants and donations payable in furtherance of objects Governance cost 1974,3151 11,662,228) 12,636,5431 115,6851 115,6851 12,567.5211 112,5731 Total expenditure before gains and losses 1974,31 Sl 11,677,913) 12,652,2281 12,580,094) Gainsl Ilossesl on investments Gainsl Ilossesl on foreign exchange 1,149,671 1,248,401 2,398,072 130,4091 130,4091 2,377,877 6,588 Net income 175,356 2,877,810 3,053,166 592,510 Transfers between funds Net movement in funds 10 175,356 2,877,810 3,053,166 592,510 Total funds brought forward 2,985,681 10,918,702 13,904,383 13,311,873 Total funds carried forward 3,161,037 13,796,512 16,S57.549 13,904,383 All gains and losses arising in the period are included in the Statement of Financial Activities and arise from continuing operations. The notes on pages 10 10 15 form part of the financial slalemenls. Page.. 7
The Eureka Charitable Trust Balance Sheet at 30th June 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed Assets | |||
| Investments | 7 | 15,822,301 | 12,724,229 |
| Current Assets | |||
| Debtors | 8 | 2,513,250 | 2,513,250 |
| Cash at bank | 530,887 | 676,680 | |
| 3,044,137 | 3,189,930 | ||
| Creditors: Amounts falling due | |||
| within one year | |||
| Creditors | 9 | (426,889) | (765,246) |
| Net Current Assets | 2,617,248 | 2,424,684 | |
| Total Assets less Current Liabilities | 18,439,549 | 15,148,913 | |
| Creditors: Amounts falling due afer | |||
| more than one year | |||
| Grants payable | (1,482,000) | (1,244,530) | |
| Total Net Assets | 16,957,549 | 13,904,383 | |
| Funds | |||
| Restricted funds | 10 | 3,161,037 | 2,985,681 |
| Unrestricted Funds | 10 | 13,796,512 | 10,918,702 |
| Total charity funds | 16,957,549 | 13,904,383 |
The notes on pages 10 to 15 form part of the financial statements.
The accounts were approved by the board and authorised for issue on 30 April 2026 . and signed on its behalf by
Trustee
Page: 8
The Eureka Charitable Trust Statement of Cash Flows for the year ended 30 June 2025 Note 2025 2024 Net cash used in operating activities Net cash generated by I (used inl 0ratIng activities 534,152 11,906,934) Cash flows from Investlng actlvltles: Investment income 20,056 20,433 Cash flows from financing activities: Cost of purchasing fixed asset investments Proceeds from sale of fixed asset Investments 12,000,000) 1,300,000 1,650,000 1700,0001 1,650,000 Change in cash and cash equivalents in the reporting period 1145,7931 1236,5011 Cash and cash equivalents at 30 June 2024 676,680 913,181 Cash and cash equivalents at 30 June 2025 530,887 676,680 Note li} Reconciliation of net ex enditure to net cash flow from o eratin activities 2025 2024 Net incomel lexpenditurel Investment income Investment gains Ilncreasel l Decrease in debtors Increase I (Decrease) in creditors 3,053,166 120,0561 12,398,072) 592,510 120,4331 12,377,877) 1100,8871 1101,1341 Net cash providedllused inl by operating acts'vities 534,152 11,906,934) Anal sis of cash and Cash e uivalent¥ 2025 2024 Cash at bank 530,887 676,680 Total cash and cash equivalents 530,887 676,680 Anal sis of chan es in net debt At 0110712024 Cash Flows At 3010612025 Cash 676,680 1145,7931 530,887 Page.. g
The Eureka Charitable Trust Notes to the Accounts Statutory Information for the year ended 30 June 2025 1 Accounting policies Basis of accounting The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Trust is a public benefit entity for the purposes of FRS 102 and therefore the Trust also prepared its financial statements in accordance with the Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {The FRS 102 Charities SORPI and the Charities Act 2011. The financial statements are prepared in pound sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest pound. The principal accounting policies adopted in the preparation of the financial statements are set out below. Going Concern Basis The Trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the Trust to continue as a going concern. The Trustees have made this assessment for a period of at least one year from the date of approval of the financial slatemenls. In particular the Trustees have considered the Trust's forecasts and projections and have taken account of pressures on donation and investment income as a result of the current economic situation. After making enquiries the Trustees have concluded that there is a reasonable expectation that the Trust has adequate resources lo continue in operational existence for the foreseeable future. The Trust therefore continues to adopt the going concern basis in preparing ils financial statements and there are no material uncertainties al the date of signing. Income Income is credited to the Statement of Financial Activities on an accruals basis when there is entitlement lo the funds, the receipt is probable and the amount can be measured reliably. Expenditure Expenditure is charged on an accruals basis. Grants payable are included in the Statement of Financial Activities when approved by Trustees and offered lo the grantee. Foreign currencies Transactions denominated in foreign currencies are translated into Sterling al the exchange rate ruling al the dale of the Iransaclions. Assets and liabilities in foreign currencies are translated into Sterling al the rates of exchange ruling at the end of the financial period. All exchange differences are dealt with in the Slalement of Financial Activities. Investments Investments are included in the accounts at market value. Realised and unrealised gains and losses on investments are included within the funds. Cash and Cash Equivalents Cash and cash equivalents include cash at banks and in hand and short term deposits with a maturity dale of three months or less. Grants payable Contractual arrangements are recognised as goods and serVIS are supplied. Other grant payments are recognised when a constructive obligation arises. Page. 10
The Eureka Charitable Trust Notes to the Accounts For the year ended 30 June 2025 Accounting policies Icontinuedl Fund accountlng The unrestricted fund consists of those funds which the Trust may use in furtherance of Ils charitable objectives al the discretion of the Trustees. The restricted funds can only be used for a particular restricted purpose within the objects of the charity. Reslriclions arise when specified by the donor or when funds are raised for particular reslricled purposes. Financial Instruments The Trust has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balan sheet when the charity becomes paty lo the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial slalements, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. With the exceptions of prepayments and deferred Income all other debtor and creditor balances are considered to be basic financial instruments under FRS 102. Critical accounting estimates and areas of judgement In the view of the Trustees in applying the accounting policies adopted, no critical accounting eslimales and judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year. 2 Donations receivable 2025 2024 Unrestricted donab'ons 3,317,675 767,706 3,317,675 767,706 Page. 11
The Eureka Charitable Trust Notes to the Accounts For the year ended 30 June 2025 3 Grants and donations payable in furtherance of objects 2025 2024 Donations- restricted Buglife CPRE Hedgerows Marine Conservation PlantLife Wild Fish ZSL 194,983 375,000 26,775 139,282 100,000 138,275 974,315 450,691 134,490 35,200 85,000 43,000 748,381 Donations- unrestricted ARK Daughters of Charity Frontline Pla2Be Minds Matter Tiny Tickers Other unrestricted donations 855,000 380,511 362,538 250,000 202,376 19,445 10,000 777,783 1,662,228 623,715 1,819,140 Governance costs (see note 41 15,685 12,573 2,652,228 2,580,094 Page.. 12
The Eureka Charitable Trust Notes to the Accounts For the year ended 30 June 2025 4 Governance costs 2025 2024 Audit fees Other costs Legal and professional fees Bank charges and other interest 14,884 431 11,500 329 171 573 12,573 370 15,685 5 Transactions with Trustees No Trustee received any remuneration for their services as a Trustee {2024'. £nill nor any reimbursement of expendilure12024. £nill. 6 Employees The Trust has no employees. 7 Investments 2025 2024 Afternative Investments Brought forward as al 1 July 2024 Additions Disposal proceeds Gains in the year Market Value at 30 June 2025 12,724,229 2,000,000 11,300,000) 2,398,072 11,996,352 11,650,000) 2,377,877 15,822,301 12,724,229 Historical C05t 6,747,695 8,682,875 Significant Investment holdings based on market value al 30 June 2025 were". Original cost at 30 June 2025 Market Value at 30 June 2025 Investment funds Eureka Plus fund Eureka fund Market Neutral TOPS fund 1,534,563 1,047,588 4,165,544 4,769,467 1,346,404 9,706,430 6,747,695 15,822,301 8 Debtors 2025 2024 Gift aid recoverable 2,513,250 2,513,250 2,513,250 2,513,250 Page. 13
The Eureka Charitable Trust Notes to the Accounts For the year ended 30 June 2025 9 Creditors- Amounts falling due within one year 2025 2024 Grant creditors Accruals and Other creditors 413,639 13,250 753,746 11,500 426,889 765,246 10 Funds Balance at 01Jul-24 Galns I Expenditure Ilossesl Transfers Balance at JoUn-25 Income Unrestrlcted funds 10,918,702 3,337,731 11,677,913) 1,217,992 13,796,512 Restricted funds MW TOPS Wildlife Conservation Project 2,985,681 1974,3151 1,149,671 3,161,037 13,904.383 3.337,731 12,652,228) 2,367.663 16,957.549 Year ended 30 June 2024 Balance at 01Jul-23 Gains I Balance at Expenditure (losses) Transfers 3Oun-24 Income Unrestricted funds 9,999,823 788,139 11,831,713) 1,962,453 10,918,702 Restricted funds MW TOPS Wildlife Conservation Project 3,312,050 1748,3811 422,012 2,985,681 13,311.873 788,139 12.580,0941 2,384.465 13,904.383 Purpose of restricted funds MW TOPS Wildlife Conserv8tion Project This fund is used lo support UK-based charities that seek lo conseNe or restore habitats and ecosystems, both marine and land-based. Page. 14
The Eureka Charitable Trust Notes to the Accounts For the year ended 30 June 2025 11 Related Parties During the period the Trust made grant commitments and donations of £855,000 12024.. £nill lo ARK. C. Musgrave is a Trustee of ARK Schools. The Trust settled commitments of £689,000 12024.. £622,000) during the year with unpaid grant commitments to ARK of £1,482,00012024.. £1,316,000) at the year end. During the period the Trust made donations of £10,000 to Tiny Tickers. l. Calabresi is a Trustee of Tiny Tickers. There were no unpaid donations to Tiny Tickers al the year end12024'. nill. During the peri( the Trust made new grant commitments of £nil12024.' £250,000) to pla2Be, a charity of which C. Musgrave is a member of the development board. The Trust settled commitments of £83,333 12024.. £83,334) during the year with unpaid grant commitments lo Place2Be of £83,33312024.' £166,666) al the year end. During the period the Trust received a donation of $400,000 12024.. $850,000) equivalent to £317,615 12024.. £667,706) from Marshall Wace North America LP. C. Musgrave, D. Ford and E. C. Appleford are all partners of MW Group LP, the entity's ultimate parent company. During the period the Trust received a donation of £3,000,00012024.' £nill from MW Ltd. C. Musgrave, D. Ford and E. C. Appleford are all partners of MW Group LP, the entity's ultimate parent company. 12 Financial and Capital commitments The Trust has no outstsnding financial or capital commitments in the current or prior year. Page. 15