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2025-09-30-accounts

Environmental Defense Fund UK Annual Report and Financial Statements Year ended 30 September 2025 Charity number: 1164661 Company number: 09217493

Table of Contents

Reference and administrative information 3
Report of the Trustees 4
Statement of Trustees’ Responsibilities 9
Statement of disclosure to our auditors 10
Independent auditor’s report 11-15
Financial statements and notes to the financial statements 16-26

2

Reference and Administrative Information

Board of Trustees

Carl Ferenbach (Chairman)
Lord Brian Griffiths (Independent Trustee)
Lance West (Independent Trustee)
Andrea Monge
Peter Harrison
Sean Cook
Louis N. Mkanganwi (Resigned on 23 May 2025)
C/O Sedulo London Office 605, Albert House,
256-260 Old Street
Registered Office
London, England
EC1V 9DD
Company Registration Number
09217493
Charity Registration Number
1164661
Independent Auditor
BDO LLP
Central Square,
29 Wellington Street,
Leeds,
LS1 4DL
Banker
Citibank
33 Canada Square
London, E14 5LB

3

Environmental Defense Fund UK Report of the Trustees for the year ended 30 September 2025

The Trustees are pleased to present their annual director’s report together with the financial statements of the charitable company for the year ended 30 September 2025, which are also prepared to meet the requirements for a director’s report and accounts for Companies Act 2006 purposes.

The financial statements have been prepared in accordance with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP), applicable to charities preparing accounts under FRS 102 (the Financial Reporting Standard applicable in the UK and Republic of Ireland).

Environmental Defense Fund UK is a subsidiary of Environmental Defense Fund Incorporated (hereafter referred to as the Parent ).

Environmental Defense Fund UK is hereafter referred to as the Charity .

Stichting Environmental Defense Fund International is a Dutch entity that functions as a sister entity with Environmental Defense Fund UK . It is hereafter referred to as the Foundation .

Together, the Foundation and the Charity carry out mission-related activities across Europe.

Objective & activities

The objectives of the Charity are for the public benefit to promote:

The Charity Trustees consider that they have complied with their duty in section 17 of the Charities Act 2011 to have due regard to the Public Benefit guidance published by the Charity Commission.

Achievements and performance

The Charity commits to global change with the work promoting change in the region as well as across the globe. Each section below highlights 2025 global impact. Activities are organised by focus area. Where group activities were conducted with external UK-based partners, this is highlighted in the report.

4

Energy

As Europe accelerates its clean energy transition, reducing emissions from the existing fossil energy system remains critical to limiting near-term warming and maintaining public trust in climate progress. The Charity, in partnership with the Foundation, focuses its regional energy strategy on two areas with outsized potential to drive rapid, verifiable climate benefits: methane — a potent greenhouse gas whose reduction delivers the fastest way to slow warming — and hydrogen, which holds promise for decarbonizing industry and transport when produced and used responsibly. By combining scientific rigor, policy expertise, and broad partnerships, The Charity and the Foundation help ensuring Europe’s evolving energy policies cut emissions effectively while supporting a secure, sustainable future.

Methane

2025 was a defining year for methane action: The EU Methane Regulation, which was adopted in 2024 with key support from the Parent, faced persistent challenges from political and industry actors seeking to dilute its emissions reduction requirements. In the face of this opposition, the Charity mobilized civil society, policymakers, and other partners together to ensure that reducing methane emissions remains a priority for Europe, demonstrating that urgent and practical climate action is both achievable and essential for lasting benefits.

Hydrogen

Hydrogen offers a promising avenue for decarbonizing hard-to-abate industrial sectors, like steel and cement production. But hydrogen is only climate-friendly if it is produced using clean energy. If produced with fossil fuels, hydrogen’s climate benefits can be greatly reduced — or even negated. The EU created strict new rules to ensure hydrogen delivers real climate benefits, but these requirements have slowed market growth. As the EU reconsiders these rules, the Charity and the Foundation is offering expertise and advocacy to help create fair regulations that ensure hydrogen supports Europe’s clean energy transition without causing new climate issues. There was no specific UK based outreach done on Hydrogen in 2025, but the UK based enterprise team contributed to the success of work across the region in this focus area.

Agriculture

In 2025, EU agricultural policy faced major uncertainty and political resistance that put climate action at risk. the Charity and the Foundation stepped in to keep climate-friendly agriculture solutions on the agenda by showing policymakers practical finance options and real-world, science-backed solutions that work for farmers and the environment. Through events, studies, and partnerships in several countries, the Charity and the Foundation has demonstrated that reducing agricultural emissions is possible and beneficial — even when political conditions are unfavourable. There was no specific UK based outreach done on Agriculture in 2025, but the UK based enterprise team contributed to the success of work across the region in this focus area.

5

Transport

Transporting people and goods is a critical element of Europe’s society and economy and it is the only sector in the Europe where emissions have grown since 1990. the Charity and our partners are working to reverse this emissions growth in two keyways: decarbonising regional shipping and aviation.

Shipping

Maritime shipping is the backbone of global trade and modern life, carrying over 90% of traded goods by volume. Despite being the most efficient way to move goods, the industry is responsible for approximately 3% of global climate pollution and remains almost entirely dependent on fossil fuels. The Charity is helping decouple freight growth from carbon pollution by shaping strong global climate rules for shipping and ensuring that future fuels benefit both the climate and communities. In 2025, the Charity, in partnership with The Foundation, helped secure ambitious climate targets for shipping while maintaining environmental integrity and fairness in international negotiations. In partnership with London-based charity Lloyd’s Register Maritime Decarbonisation Hub, the Charity examined ways to unlock shipping finance, gaining visibility with decision-makers and in the media.

Aviation

Air travel is expected to double by 2050, and without strong action, its pollution could reach as high as three times current levels. the Charity and the Foundation and its partners are leading efforts to reduce aviation’s climate impact even as the industry grows, by scaling up the use of sustainable aviation fuels and strengthening EU policies to cut harmful climate pollution and improve air quality. There was no specific UK based outreach done on Aviation in 2025, but the UK based enterprise team contributed to the success of work across the region in this focus area.

Enterprise team

The Charity maintains an Enterprise team who dedicate their time and efforts to the Charity’s operations. This team includes:

This team is effective in supporting the UK Charity’s activities, while also retaining time for focus on the broader region. The above activities were carried out in collaboration with The Foundation and contribute to Environmental Defense Fund Incorporated’s global mission. The Charity also supported the global mission in the areas of decarbonising Hydrogen, Agriculture and Private Sector Engagement.

6

Financial review

Expenditure

The Charity’s direct expenditure for the year ended 30 September 2025 totalled £1,438k ( 2024: £3,104k ). In both 2024 and 2025 the total expenditure was considered unrestricted. No expenditure in either year was considered subject to donor restrictions.

Income

We maintain a restrictive government and corporate donations policy that ensures our objectivity aligns with our commitment to non-partisanship, and allows the Charity to make its work freely available to ensure its widest possible adoption. The Charity is primarily funded by grants with the majority received from its parent organisation, EDF Inc.

The Charity received total income of £1,438k ( 2024: £3,050k ) for the year ended 30 September 2025. All of the funding received in both 2024 and 2025 was considered unrestricted.

The Charity ended FY2025 with a surplus of £408, compared to a £53k loss in FY2024.

At the end of 2025 the Charity had net assets of £226k ( 2024: £225k ).

Reserves policy

The Charity has secured the continued backing of its US-based parent Environmental Defense Fund, Inc. for the period under review. This support takes the form of a signed guarantee covering all costs, and a signed guarantee covering any losses that The Charity is unable to meet. As a result of the guarantees in place the Charity does not maintain a reserve policy per se.

Going concern

As of the date of signing these financial statements, the Trustees’ forecasts indicate that the Charity will be able to maintain liquidity for a period of at least one year following the date of signing these financial statements and will therefore be able to continue to operate as a going concern. The Trustees therefore consider that no material uncertainty exists that could impact the charity’s going concern assessment.

The Charity is in a good position and maintaining its current programmatic strategy and expansion plans. The trustees also deem the future risk to income streams to be negligible as a result of the signed letter of support from the Parent. This letter demonstrates that the Parent has a legal obligation to cover the shortfalls up to June 2027. The Trustees have made suitable inquiries and considered the charity’s forecasts, including cash flow, updated in the context of the global challenges, and covering a period of at least 12 months from the date of approval of these financial statements. In making our assessment, the Trustees did not consider there to be any material uncertainty relating to events or conditions that individually or collectively may cast significant doubt on the company’s ability to continue as a going concern.

7

Fundraising

The Charity seeks to raise funds from individuals, foundations and relevant Government grant making programs. The Charity receives donations raised by Environmental Defense Fund Inc. for our work in the UK and Europe and direct support received from European sources. Fundraising activities in Europe are closely coordinated between by Environmental Defense Fund Inc. and the Charity.

Structure governance and management

The Charity is a company limited by guarantee under the Companies Act 2006 and incorporated in England and Wales. Environmental Defense Fund Inc., a New York not-for-profit organization is the sole member of the Charity. The liability of the Member is limited to £1, being the amount that the Member undertakes to contribute to the assets of The Charity in the event of its being wound up while it is the Member or within one year after it ceases to be the Member.

Decisions regarding The Charity are made by the Charity’s Trustees, who act independently from Environmental Defense Fund, Inc. The Parent may suggest areas of work for consideration by the Charity’s Trustees; however, work in these suggested areas will be undertaken only if the Trustees of the Charity decide that it will further The Charity objects and that it will be effective in the UK and/or wider European context. Program and geographic leaders work collaboratively to identify and maximise opportunities for transformative environmental impact.

The workforce remuneration and key management personnel salaries are reviewed against market pay data. Our remuneration policy ensures workforce pay is within the appropriate market benchmark, parameters, and criteria against the UK charity and not for profit sector.

8

ststement of Tru5tees' respMslbilitle5 The trustees, who are also directors of the Charity forthe purpose of company law, are responsible for preparing the Trustee< Report Ilncluding the Strate8ic Report) and the financial ststemerts in accordance wfch applicable law and regulatrons. Company law requires the Trustees to prepare financial ststements for each financial year in accordance with United Kingdom Generally A￿pted Accounting Prartice (United Kingdom Actounting Standards and applicable lawl. 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 charity and of the incoming resourtes and application of resources. including the income and expendrture, of the charity for that period. In preparing these financlal statements, the Trustee5 are requI￿d to: select suitsble accountlng polkles and then appty them consi5tentfvr obseNe the methods and principle5 in the applitable Charrtie5 SORP; make judgements and accountln8 estimates that are reasonable and pnjdent: state whether applicable UK Accountlng Standards have been followed, subjett to any materlal departures disclosed and explained in the financial statements". prepare the financial statements on the going concern basts unless It Is Inapproprlate to presume that the charity will continue in busines5. The Trustees are responsible for keeplng adequate accountin8 records that are sufflclent to show and explaln the charws transactions and dixlose with reawnable accuracy at any tlme the flnanclal posltlon of the charity and enable them to ensure that the flnancial rtatements comply with the Companies Act 2006. They are also responsible for safe8uardin8 the assets of the charity and hence for taking reasonable steps for the p￿Venth)n and deteciion of fraud and other irre8ularities. By order of the Board of Trustees: Carl Fe￿fibach {Chalmianl Date:

ststement of disclasure to our audltoys In so far as the Trustees are aware at the time of approving our Trustees, Annual Report: There is no ￿leVant information, being infomiation needed by the audÉtor in connection wtth preparin8 their report, of which the auditor is unaware. The Trustees. having made enquiries of fellow directors and the charitrf5 auditorthat they outrvdht to have individually taken. have each taken all steps that helshe is obliged to tske as a d1￿ctor in order to make themselves aware of any relevant audtt infomiation and to estsblish that the audrtor is Jware of that infomiation. In preparing this Trustees. Report advantage ha5 been taken of the small companies. exempthjn. including the option not to produce strategic rew)rt. By order of the Board of Trustees: Carl Ferenbach (Chairman) Date: io

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ENVIRONMENTAL DEFENSE FUND UK

Opinion on the financial statements

In our opinion, the financial statements:

We have audited the financial statements of Environmental Defense Fund UK for the year ended 30 September 2025 which comprise the statement of financial activities, 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 Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

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 Auditor’s responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

We remain independent of the Charity in accordance with the ethical requirements 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.

Conclusions related 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 Charity'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.

11

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 auditor’s report 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. 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 there is 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.

Other Companies Act 2006 reporting

In our opinion, based on the work undertaken in the course of the audit:

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion;

12

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the directors of the Charity 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 Charity’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 Charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under the Companies Act 2006 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 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 (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.

Extent to which the audit was capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Non-compliance with laws and regulations

Based on:

we considered the significant laws and regulations to be the applicable accounting framework, UK GAAP, the Companies Act 2006 and Charity SORP.

The Charity is also subject to laws and regulations where the consequence of non-compliance could have a material effect on the amount or disclosures in the financial statements, for example through the imposition of fines or litigations.

Our procedures in respect of the above included:

13

Fraud

We assessed the susceptibility of the financial statements to material misstatement, including fraud. Our risk assessment procedures included:

Based on our risk assessment, we considered the areas most susceptible to fraud to be management override of controls and validity of professional fees.

Our procedures in respect of the above included:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s (“FRC’s”) website at:

https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

14

Use of our report

This report is made solely to the Charity’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity’s members those matters we are required to state to them in an auditor’s 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 Charity and the Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Sarah Anderson (Senior Statutory Auditor) For and on behalf of BDO LLP, statutory auditor Leeds, UK

Date: 25 June 2026

BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).

15

Environmental Defense Fund UK Statement of Financial Activities For the year ended 30 September 2025

Note
Income from:
- Climate initiatives
2
Total income
Expenditure on:
Charitable activities:
- Climate initiatives
3
Total expenditure
Net income / (expenditure) for
the year
Reconciliation of funds:
Total funds brought forward
Current year result
Total funds carried forward		 Unrestricted
£
1,438,086
1,438,086
1,437,678
1,437,678
408
225,422
408
225,830		 2025
Total
£
1,438,086
1,438,086
1,437,678
1,437,678
408
225,422
408
225,830		 2024
Unrestricted
Total
£
£
3,050,422
3,050,422
3,050,422
3,050,422
3,103,618
3,103,618
3,103,618
3,103,618
(53,196)
(53,196)
278,618
278,618
(53,196)
(53,196)
225,422
225,422

All of the above results are derived from continuing activities.

There were no other recognised gains or losses other than those stated above.

The notes on pages 19 to 26 form part of these financial statements.

16

Envlronmentsl Defense Fund UK Balance Sheet As at 30 september 2025 Company no. 09217493 2024 2024 Flxed ass•ts: Tan8lble assets 14JlS 9.928 9.928 Debtors 54.074 1%.187 166.123 361310 Cash at bank Uablltles: Credltors: amounts falllng due within one year IL691.0421 1146A161 N•t curr4nt oss•ts 211￿1$ 215.494 Totsl •%ets le$s￿rrI￿ h•biktie5 225.422 Total n•t assets 225 225,422 Funds Restricted funds Unrestricted funds 225￿1 225,422 Total fvnds 225.422 The fin3n¢ial statements have been prepared ￿ accordarKe with the special wovtslons for small companles under Part 15 of the Companles Act 2006. The ￿te$On pa8es 19 to 26 torm part of th¥¢llnantlal staien Approved by the th on rboh 17

Environmental Defense Fund UK Statement of Cash Flows

For the year ended 30 September 2025

Cash flows from operating activities
Net income / (expenditure) for the year
Depreciation charge
Increase in debtors
(Decrease) / increase in creditors
Descrease in provisions
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash (used in) provided by investing activities
Net increase in cash and in cash equivalent
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2025
2024
£
£
408
(53,196)
2,579
35,065
142,113
467,780
1,537,260
(362,589)
-
(25,396)
1,682,360
61,664
-
-
-
-
1,682,360
61,664
166,123
104,459
1,848,483
166,123

The notes on pages 19 to 26 form part of these financial statements.

During the year the Charity acquired £6,966 of fixed assets from EDF Inc. As this transaction did not involve a movement of cash, it has been excluded from the statement of cash flows, along with the corresponding change in creditors.

18

Environmental Defense Fund UK Notes to the financial statements

For the year ended 30 September 2025

1. Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102) and the Companies Act 2006. The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. These financial statements have been prepared in accordance with provisions applicable to companies’ subject to the small companies’ regime. These financial statements are prepared in Great British Pounds.

1.1 Going Concern

Environmental Defense Fund UK is in a good position and maintaining its current programmatic strategy and expansion plans. The trustees also deem the future risk to income streams to be negligible as a result of the signed letter of support from Environmental Defense Fund Inc. This letter demonstrates that the parent company has a legal obligation to cover the shortfalls up to June 2027. The trustees have made suitable inquiries and considered the charity’s forecasts, including cash flow, updated in the context of the global challenges and covering a period of at least 12 months from the date of approval of these financial statements. In making our assessment, the Trustees did not consider there to be any material uncertainty relating to events or conditions that individually or collectively may cast significant doubt on the company’s ability to continue as a going concern.

1.2 Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met.

1.3 Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity, which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations, which the donor has specified, are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

19

Environmental Defense Fund UK

Notes to the financial statements

For the year ended 30 September 2025

1.4 Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

1.5 Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include office costs, finance, personnel, payroll and governance costs which support the charity's environmental programmes and activities. Support costs have been allocated to expenditure on charitable activities.

1.6 Cash at bank

Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.7 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts.

1.8 Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

1.9 Foreign currencies

Assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. Transactions are recorded at the rate ruling at the date of the transaction. All differences are taken to the Statement of Financial Activities.

20

Environmental Defense Fund UK Notes to the financial statements For the year ended 30 September 2025

2
Income from charitable activities
Climate initiatives
EDF Inc
Other Donations
Total for climate focused initiatives
Analysis of turnover by country of origin
Rest of the world		 Unrestricted
£
1,434,888
3,198
1,438,086		 2025
Total
£
1,434,888
3,198
1,438,086
2024
Total
£
1,438,086
1,438,086		 2024
Total
£
3,044,523
5,899
3,050,422
2023
Total
£
3,050,422
3,050,422

21

As at 30 September 2025

Environmental Defense Fund UK

Notes to the financial statements

3 Analysis of charitable expenditure for 2025

Staff costs
Professional fees
Staff travel
Rent
Office costs
Meetings
Subscriptions
General administration
Audit fees
Forex gain		 Direct
costs
£
1,276,690
48,736
63,537
-
-
-
-
-
-
(48,044)		 Charitable activities

Support
costs
Governance
costs
2025 Total
£
£
£
-
-
1,276,690
-
-
48,736
-
-
63,537
-15,346
-
(15,346)
3,796
-
3,796
10,151
-
10,151
46,273
-
46,273
7,486
-
7,486
-
44,399
44,399
-
-
(48,044)
52,360
44,399
1,437,678		 Charitable activities

Support
costs
Governance
costs
2025 Total
£
£
£
-
-
1,276,690
-
-
48,736
-
-
63,537
-15,346
-
(15,346)
3,796
-
3,796
10,151
-
10,151
46,273
-
46,273
7,486
-
7,486
-
44,399
44,399
-
-
(48,044)
52,360
44,399
1,437,678
Support
costs
£
-
-
-
-15,346
3,796
10,151
46,273
7,486
-
-
52,360
1,340,919

Analysis of charitable expenditure for 2024

Staff costs
Professional fees
Staff travel
Rent
Office costs
Meetings
Subscriptions
General administration
Audit fees
Forex loss		 Direct
costs
£
1,571,914
505,847
32,492
-
-
-
-
-
-
81,643		 Charitable activities

Support
costs
Governance
costs
2024 Total
£
£
£
-
-
1,571,914
-
-
505,847
-
-
32,492
725,051
-
725,051
20,341
-
20,341
1,025
-
1,025
45,929
-
45,929
54,829
-
54,829
-
64,547
64,547
-
-
81,643
847,175
64,547
3,103,618		 Charitable activities

Support
costs
Governance
costs
2024 Total
£
£
£
-
-
1,571,914
-
-
505,847
-
-
32,492
725,051
-
725,051
20,341
-
20,341
1,025
-
1,025
45,929
-
45,929
54,829
-
54,829
-
64,547
64,547
-
-
81,643
847,175
64,547
3,103,618
Support
costs
£
-
-
-
725,051
20,341
1,025
45,929
54,829
-
-
847,175
2,191,896

Of the total expenditure incurred in 2025, £1,437,678 was unrestricted (2024: £3,103,618) and £Nil was restricted (2024: £Nil ).

Professional fees relate to third party services utilised in order to meet charitable objectives, as well as services required to maintain the operational aspects of the Charity.

22

Environmental Defense Fund UK Notes to the financial statements As at 30 September 2025

4 Expenditure for the year

This is stated after charging:
Operating lease rentals:
- Property
Depreciation
Auditor's remuneration:
- Audit fees
Analysis of staff costs
Staff costs were as follows:
Salaries and wages
Social security and pension contributions
Other staff costs		 2025
2024
£
£
-
725,050
2,579
35,065
44,399
64,547
2025
2024
£
£
998,269
1,250,378
217,972
241,467
60,449
80,070
1,276,690
1,571,915

5 Analysis of staff costs

23

Environmental Defense Fund UK Notes to the financial statements As at 30 September 2025

The following number of employees received employee benefits (excluding employer pension) greater than £60,000 during the year:

than £60,000 during the year:
2025 2024
No. No.
£60,000 - £69,999 3 2
£70,000 - £79,999 1 1
£80,000 - £89,999 - 3
£90,000 - £99,999 1 -
£100,000 - £109,999 1 -
£110,000 - £119,999 - -
£120,000 - £129,999 - 2
£130,000 - £139,999 1 -
£140,000 - £149,999 - -
£150,000 - £159,999 1 -

The key management personnel, namely Vice President, Regions and Chief Executive Officer, Europe are employed by the Foundation. They provide their services to the Charity on a granted service basis. The value of the donated services for the reported fiscal year is estimated as £29,573 (2024: £28,680).

6 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was as follows:

2025 2024
No. No.
14 15
14 15

24

Environmental Defense Fund UK Notes to the financial statements As at 30 September 2025

7 Taxation

The Charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

8 Tangible fixed assets

Cost
At the start of the year
Additions in year
At the end of the year
Amortisation
At the start of the year
Charge for the year
At the end of the year
Net book value
At the end of the year
At the start of the year		 Office
equipment
and fittings
2025
£
£
£
104,961
21,588
126,549
6,966
-
6,966
Fixtures
Total
111,927
21,588
133,515
97,192
19,429
116,621
2,579
-
2,579
99,771
19,429
119,200
12,156
2,159
14,315
7,769
2,159
9,928

25

Environmental Defense Fund UK Notes to the financial statements As at 30 September 2025

9 Debtors

Debtors
Amounts owed by group undertakings
Prepayments
Total Debtors		 2025
£
-
54,074
54,074		 2024
£
185,404
10,783
196,187

10 Creditors: amounts falling due within one year

Amounts owed to group undertakings
Trade creditors
Other creditors
Accruals
Total Creditors		 2025
2024
£
£
1,600,383
-
3,243
39,536
34,734
34,729
52,682
72,551
1,691,042
146,816

The pension liability of the Charity is £12,736 (2024: £13,715).

11 Legal status of the charity

The charity is a company limited by guarantee and has no share capital.

Each member is liable to contribute a sum not exceeding £1 in the event of the charity being wound up.

12 Related party transactions

There were no donations from related parties which are considered outside the normal course of business.

During the year, the organisation received grants of £1,434,888 (2024: £3,044,523) from the Parent. The net payable balance with the Parent as at year-end was £2,569,113 (2024: £745,304 )

The net receivable balance with the Foundation at year-end was £968,730 (2024: £943,984). The movement on the amount receivable compared to 2024 relates to a foreign exchange revaluation. There were no new transactions between the Charity and the Foundation during the reporting period.

Andrea Monge, a board member of the Charity, is the CEO of ISPD. ISPD rents out a part of the Parent's New York office via its subsidiary Digilant. The Parent received $18,000 from Digilant Inc. in rental income during the year.

In June 2025 an Advisory Council meeting took place in Brussels. Following the meeting Carl Ferenbach, Pete Harisson, Sean Cook, and Helen Spence participated in a dinner event with other members of management from the Foundation and Charity. Personal benefit for each is estimated at €78 euro.

26