impoct tcust Annual Report of the Trustees and Audited Financial Statements for the year ended 31 December 2025 ImpactTrust Registered UK Charity, Number: 1167011 www.impacttrust.org
The In7pact Twst | Annual Report 2025 Wax and Gold.. Finding Trust in the Interregnum The vvorld after the storm feels like a game whose rules no one quite remembers. We're living in what Gramsci called the interregnum - that twilight where the old order is fading, the newrefuses to be born, and everyone seems to be playing by different rules. In this twilight, trust becomes both scarcerand more essential. On one side of the table, sitthose playing Western chess: deliberate. sequential. balanced, and strategic. Every move is measured and calibrated, each risk and consequences carefully calculated. They speak of endgames and foresight. believing the future can be mapped square by square and the game played move by move. Across from them. others playsenterej (Ethiopian chess). The game begins in a burst of motion-no turns. so patientwaiting. Players move all at or)ce. improvising through speed, instinct and momentum. It is a game of response. not prediction, of provokingflux and mayhem not controlling it. Inevitably. both sides are bewildered. The chess players see recklessness. impossible to predict. The Senterej masters see paralysis and weakness. Yetthis tension defines our year- a world split between strategy and improvisation. stability and agility. Overthe past year, the Impact Trust has worked at this intersection- creating spaces where these different'players" can meet. learn and adapt together. Here strategy encounters spontaneity and order learn from motion. In this interregnum, unc8rt2inty is tha only constant. The art of impact has become the art of improvisation. staying steady while the ground moves beneath us. Perhaps the most useful asset in the toolbox is the abilityto keep humour and CLtriosity alive, finding coherence not through control but through thoughtful, connected and reciprocal action. In 2026, our dialogues will explore another Ethiopian concept: that of "Wax and Gold" Isem ena werq). the art of layered meaning where the surf8ce"wax" conceals a deeper"gold." This ancient poetic tradition offers a lens for understanding howtrust operates in uncertain times: what appears on the surface often masks more profound currents of connection and meaning. In a world where straightforward communication feels increasingly naive and cynicism increasingly corrosive. the practice of reading for deeper meanings - and crafting messages that reward such reading- becomes a survival skill. Like the Senterej masters who see patterns in chaos. practitioners of wax and gold find coherence beneath apparent contradiction. Trust. after 811, is itself a form of wax and gold. The surface of trust is the handshake, the contract. the promise. But beneath lies something more essential: the accumulated history of smaLI reliabilities, the willingness to be vulnerable. the recognition that ourfates are intertwined. The ImpactTrust exists to create spaces where this deeper gold can be discovered and cultivated - where those playing different games can learn notjust eaGh other's rules but ¢ach Other's rhythms. Gerry Salole Trustee Page 2
rhe Impact Tmst l Annual Report 2025 REPORT FROM THE EXECUTIVE DIRECTOR Forthe year ended 31 December 2025 l am pleased to presentthis report on our activities during 2025 and our direction as we move into 2026. Lastyear12024) I highlighted that one of our core tasks has to be'to find the others." This past yearwe have been lookingto do justthat. It has been a year of deepening relationships and expanding inquiry. Through 30 dialogues engaging over 1.600 participants. we have created spaces forthe kind of thinking our moment demands- conversations that span the architecture of global debt to the governance of Antarctica, the lived experience of humanitarian Practitioners to the productive uses of anger in social movements. These di8logues have brought togethervoices from Justice Albie Sachs to Mahmoud Mohieldin. from indigenous leaders to former heads of state. creatingwhat one participant called 'A space of warm knowledge'_not the cold knowledge of policy prescriptions, but the warm knowledge born of shared struggle and authentic encounter. In 8 time ot compounding instability. where each crisis prepares the ground for the next. we are chalLenged beyond our capacity to respond through traditional means. The peace architecture built for nation-state Gonflicts, the humanitarian Sysiems designed for discrete emergencies. the philanthropic models premised on stable institutions- all are collapsing underthe pressures of global interdependence. Yet within this chaLlenge, we see emergence- of newforms of collaboration, of new ways of thinking about peace and security. of new understanding of what makes communtties resilient. Our research into organisational resilience has revealed that context matters more- by multiples- than ind ivi(Jual characteristics in determining resilience outcomes. Empirical evidence shows that the experience of 'mattering' signif icantly inf luences resilience. suggesting it is fundamentally relational rather than individual. This has profound implications for how we approach transformation. It suggests that cultivating resilience requires attending to the conditions that enable flourishing. not just training individuals to cope with dysfunction. Our collaboration with IFRC Europe has deepened understanding of how polyGrisis thinking can be embedded in humanitarian practice. Working with national society leaders across the region, we have explored howfederated structures can maintain coherence through suppleness rather than rigidity- enabling members to act with autonomywhile remaining connected tothe largerwhole. As we move into 2026. we are translating these insights into practical action. working with several national societies to integrate polycrisis preparedness and futures literacy into their programmes. with particular emphasis on intergenerational engagementwith youth volunteers. This work crystallised a truth we keep rediscovering= transformation rarely follows the pathways we expect. Agency emerges where people have both the authority to act and the resources to do so, through relationships of trust built over time. through the cour8ge to abandon positions that no longer serve, and through the wisdom to knowwhen connection must adaptto remain alive. As we look toward 2026, we carryforward the work of buildingwhat Stephen Heintz calls'A new logic for the future,. Notthe logic of response and reaction. but of pre-emption and anticipatory care. We continue to hold the vector. even when the destination remains uncertain. l am deeply gratefulto our trustees, collaboration partners, funders, and networks fortheir inspiring engagement throughout 2025. Particularthanks to our core funders this yearfortheir dedication and open exploratory funding of our work with the IFRC. And to the many individuals who have signific8ntly made this work possible. understanding that this kind of patient, relational work is essential connective tissue for systems thriving. Tamzin Ractllffe Director Page 3
Th8 Impad Trust | Annual Report 2025 REPORTOFTHETRUSTEES Forthe year ended 31 December 2025 The trustees presenttheir report with the financial statements of the charityforthe year ended 31 December 2025. The trustees have adopted the provisions of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smal18r Entities {the FRSSE) (effective 1 January 2015}. Reference and Administration Charity Name The name ofthe charity is the ImpactTrust ("The Trust") The charity has also been known as SEED lfflpact Trust. UK CharityNumb8r 1167011 Trustees Anthony Harold Notcutt (Chairl Gerard Mario Salole Shaun M¢lnerney Sean Bellamy W81terW8hrmayar Michael Lerner Joan Diamond Programme Dlrector Tamzin Ractliffe Principal Office 30 Kings Lane, Windlesham. Surrey, GU20 6JQ Independent Examiner Tiffany Purves. FCA CA ISAI About Finance Limited. 9 Danesfield, Ripley Surrey GU23 6LS Tel: +441483 223371 Bankers CAF Bank Limited, 25 Kings Hill Ave. Kings Hill, West Malling ME19 4TA Tel: +443000 123 000 Structure, governance and management. Governing Document: The Impact Trustwas established through a Trust Deed on November 26th, 2015. We pursue our mission through fundraising, program implementation, and support initiatives advancing philanthropy, high-impactsocial investment, and sustainable development across the UK, Europe. and Africa. Trustee Appointment." OurTrust Deed requires minimum three trustees, all servingvoluntarily. We seek individualswhose expertise. gmpaihy, and experience align with our charitable mission, ensuring optimal board composition through inteinal recommendations. open recruitment, 01 dialogue with aligne(i individuats. Board Changes: There were no changes tothe board in tho year under review. Risk Management: Trustees maintain oversight of organisational risks. Page 4
The Impact Tst | Annual Roport 2025 Public Benefit Objectives and Activities The ImpactTrustadvances sustainable developmenL fosters resilientfutures. and promotes sustainable practices. Ourvision of sustainability rests on "enough, for all. for ever." As a social venture catalyst. we focus resources on initiatives to drive deeper change. avoid duplication. maximise efficiency. and support emergent solutions. We maintain an agile network of thought and practice leaders supporting initiatives through transparent, high-itnpactapproaches to globalenvironmental change and sustainable development.- We contribute to public benefit through appLied research. publication, and dialogue, building and sharing knowledge on collective action, community development, resilient futures, sustainability leadership, and the capacitl8s needed to naVate an era of compoundingcrisis. Flnancial ReseNes: We maintain unrestricted reserves equivalent to approximately six months of operational expenses, with secured core fundingfor our Programme Directorthrough mid-2026. Funding Sources: Our work thrives through support from philanthropic trusts, foundations. private sector initiatives. and individual giving programs. Notable thanks go to the continued support we receive from the donors who are inspired to support thiswork. Strategic Context: Holding the Vector Last year we wrote about"n8vig8tinE entanglement"_ recognising that interconnection creates both vulnerability and strength. This year, we have learned something about what that navigation requires. Indy Johar recently articulated what many seem to have been feeling. that'the def8ultstate nowis drift. And because the def8uIt is drift, 'doing nothing, is no longer neutral. It is degenerative.. The work is not just to build. but to continuously r8-inst8nt18te what is being built.. to keep re-stitching alignment, renewing18gitim8cy, rep8iring feedback loops, and tending the structures that allow collective action to persistacross shock, noise, and fatigue. This is what it means to hold a vector.. not permanence. but perpetual coherence- a flywheel of legitimacy linking agency and institution, innovation and need. ethics and renewal. Our research confirms that resilience is fundamentally relational. Context shapes outcomes f8r more powerfullythan individual characteristlcs. and the experience of mattering is what enables people and organisations to sustain the diff icult work of transformation. Strong resilience includes the capacity io resile- to sense when a position no longer serves and find the courage to return differently. It requires creating conditions where people feel held enough to let go. In 2025. we worked to create spaces where this kind of sustained, collective orientation becomes possible- where, as one p8rticipant put it, we can "hold hope despite despair, not as feeling but as practice. We will be holding thatvector in 2026. Key Initiatives in 2025 The Senterej Dlalogues In 2025, we launched the Setlterej Dialogues - a series of 16 conversations examiningthe systems that shape ourworld and the alternatives being built. Named for Ethiopian chess. where the opening phase sees all pieces moving simultaneously before conventional rules take hold, these dialogues create space for the kind of thinking our moment demands. Conversations engaged over I,BOO participants across four interconnected streamg of work. A core community of 107 participants engaged with three or more events. with 47 attendingfive or more sessions throughout the year. Pre-emptive Peace & Planetary Commons In collaboration vvith Dark Matter Labs, we Gontinued lo explore what governance might look like wnen premised on anticipatory care ratherthan reactive response. The initiative emerges from a recognition Page 5
The Impact Twst l Annual Report 2025 that traditional peace architectures- designed for nation-state conflicts and premised on stable boundaries- are collapsing under the pressures of global interdependence, ecological breakdown. and the cascading dynamics of the polycrisis. The question we are pursuing is whether it is possible to build governance frameworks that act before harm occurs, ratherthan responding afterthe fact. Antarctica offers a compelling case study- a continent governed through international treaty, facing unprecedented environmental pressure. where the principles of commons governance. scientific cooperation, and shared stewardship might be tested and extended- not as theory. but as institutional practice with implications for how we govern other pLanetary commons. Throughout 2025. the Senterej Dialogues created space forthese ideas to develop in conversation with practitioners, scholars. and policythinkers working at the intersection of environment. peace, and governance. In 2026. this strand of work deepens significantly. We are developing plans for a convening that brings together the diverse communities exploring pre-emptive approaches to peace and planetary governance- connectingAntarctic governance specialists. environmental peacebuilding practitioners, commons scholars. and those working on anticipatory humanitarian frameworks. The Trust will participate in the Fourth International Conference on Environmental Peacebuilding in Ottawa in June 2026, oiganised bythe Environmental Peacebuilding Association {EnPAx) and the University of Ottawa, engaging with the growing global community working at the nexus of environmentalgovernance. conflict prevention, and peace. This conference, and the retationships itwill deepen. represents an important step in connecting our pre-emptive peace inquiryto the wider field of environmental peacebuilding- a field that, like the Trust's own work, is increasingly recognising that effective peace and security depend on howwe govern shared ecological systems and natural resources. Polycrisis Preparedness The Trust's work on polycrisis preparedness deepened significantly in 2025, both through our collaboration with the IFRC Europe region and through the continuing evolution of our sustainability leadership and youth futures programmes. This work has deep roots in our Routes to Resilience programme over more than a decade buildingthe framevvorks, relationships. and practical capacities needed to navigate cascading 8nd interconnected crises. In 2025. the polycrisis moved from theoretical framing to lived realityfor humanitarian systems- making this accumulated understanding more urgent than ever. IFRC Europe andRed Cross/Red CrescentN8tlonal Societies Through an 18-month Polycrisis Think-Do Tank ITDTI. we engaged national society leaders across the IFRC Europe region in a sustained programme of deep dives. foresight exercises. and collective sense- making- exploring how polycrisis thinking can inform humanitarian practice when c2SC2ding crises overwhelm traditional response frameworks. The programme broughttogether participants from across the European Red Cross and Red Crescent network in dedicated sessions wf(h a powerful network of globalthought and practice leaders. A progr8mme evaluation confirmed its value as a rare space for the kind of reflective, cross-cutting thinking that operational pressures typically crowd out. Sadly. dramatic funding cuts across bilateral and multilateral institutions. the withdrawal of major donors. and large-scale restructuring within the IFRC itself has created preciselythe kind of cascading disruption the TDTwas designed to help nationalsocieties antiCiP8te. In this context, the Think-Do Tank structure passes forward a substantial legacy: a network of practitioners with shared language and frameworks for polycrisis thinking. a body of learning from the deep dives that we have synthesised into accessible resources, and concrete commitments from nationalsocietiesto carrythe workforward. Renewed funding for polycrisis preparedness in humanitarian response will enable the ideas and le8rning from the TDTto manifest in practice. National societies that engaged deeplythroughout the programme are now ready to translate polycrisis awareness into their own disaster preparedness strategies- embedding the frameworks for antiCiP8torythinking, systems awareness. and adaptive Page 6
Tha Impact Trust l Annual Report 2025 capacitythat the TDT cultivated. The Trust continues to provide support. working directlywith national societies where demonstration value can emerge forthe broader Red Cross and Red Crescent movement and wheie the struggle to build genuine preparedness for compounding crises continues with renewed purpose. Youth Futures and SustainabilityLeadership Amongthe most energising developments from the polycrisis programme has beon the emergence of youth leadership as a force in its own right. Young Red Cross and Red Crescent volunteers from across the region participated in futures literacy sessions and resilience games throughout 2025 and are now taking ownership of what comes next. The newly elected leadership of the IFRC Europe Youth Network are building on these foundations. exploring howto integrate polycrisis preparedness and futures thinking into a youth conlerence planned for Solferino in 2026 and actively participating in the co-design of programmes with RCRC national societies. The resilience games- a collaborative foresight methodology that enables participants to experience and navigate simulated poLycrisis scenarios- have proven particularly powerful with this cohort and will continue to develop through further sessions in 2026. This youth engagement draws on the Trust's decade-longwork developing polycrisis literacy through education. Oui Routes to Resilience programme- developed in collaboration with the Cambiidge Institute forsustainability Leadership in South Africa, United World Colleges, and Ashoka Changemaker Schools- pioneered what we called "future-ftt" education for sustainability leadership, working with educators and young people across multiple Countries to build capacities for systems thinking. adaptive action. and collective resilience. That workwas prescient= the frameworks it cultivated are precisely what the IFRC youth futures work now requires. In 2025. these connections were further articulated through a chapter on sustainability leadership co-authored by our Director and Trustee Shaun Mclnerney. published in the Routledge volume Sustainability Education for Children and Young People.. Educating for the Environmental Crisis (2025). The chapter draws directly on the Trust's Routes to Resilience experience and proposes sustainability leadership as a "praxis of hope" groundecl in strategic hope. adult developmentaltheory. and the recognition that meaningful change requires both individual growth and systemic transformation. As the youth volunteers taking ownership ofthis work demonstrate, the capaGlties for seeing interconnection. holding complexity. and acting collectively can be cultivated- and once cultivated, theygenerate their own momentum. Images of Organised Resilience Our applied research into the socio-ecological dynamics of collective resilience in work environments- conducted in collaboration with Belbin Team Roles and drawing on over 800 contributors from multiple org8nisations- is nearing completion, and thefindings are significant. The research demonstrates that organisational context is overthree times more powerfulthan individual characteristics in determining resilience outcomes, tundamentalLy challenging the dominant paradigm that treats resilience as a personal attribute to be trained into individuals. The study reveals that the experience of "personal mattering"feeling recognised, belonging, and having one's identityvalued - explains between 270/0 and 43% of resilience variance, compared with just 3-9% for demographic factors. This rjoints to somethingthe humanitarian and development sectors have long sensed but struggled to evidence- that resilience is fundamentally relational, emergingthrough the interaction between people and the conditions in which they work, rather than residing in individuals alone. Perhaps most reinforcing of the collective nature of resilience and the imperative fordiversity is the f inding of "equifinality" _ that there are multiple distinct pathways to collective resilience, and that strong organisational cultures can compensate for individual deficits. The research identifies six resilience archetypes an(i shows that different org8nisational cultures activate different configurations of support, enabling people to find resilience through varied routes rather than a single presctibed model. This has profound implications for howwe understand the "meso layer" the organisational and Page 7
Th8 Impacl Trust | Annual Report 2025 network inffastructure that sits between individual capability and systemic conditions. It suggests that investing in systemic infrastructure-the cultures, relationships. and conditions that enable people to matter and to act collectively- is far more consequentialthan training individuals to be more resilient in dysfunctional systems. These findings are already informing our work on why systemic infrastructure is critical most especiallyfor networks and humanitarian organisations to be genuinely adaptive and responsive ratherthan merely reactive. As the research moves from findings to application in 2026. we will be developing practicalguidance for organisations seekingto cultivate the conditions from which collective resilience emerges. Reimagining Philanthropy Our planned collaboration with Lucy Bernholz to transform her Blueprint series into a global dialogue platform was regrettably curtailed by her ill health. However, the undeflying inquiry continues. connecting philanthropic practitioners globally in generative conversations about philanthropy's role in an era of polycrisis. We hope to see the seeds of this bearfruit in emerging blueprints in 2026. These conversations have explored the inflection point this Senterej moment presents. creating both urgency and opportunty for understanding how philanthropic institutions might transform themselves. In 2026, we are developing an expanded inquiry under the frame 'Help or Harm: Understanding Unintended Consequence and developing Harm-Aware Philanthropy., This work WILL examine the giving contradictions that emerge when well-intentioned interventions produce unintended benefits and unintended harms- and what a more reflexive philanthropic practice might Look like. Looking Forward: 2026 Priorities What does it mean, concretely, to hold the vector in 2026? Our workthis yearwill be anchored in the concept of "Wax and Gold" {sem ena werq} as Gerry described in his opening. This is the Ethiopian concept of layered meaningwheie surface appearances conceal deeper truths. This traming captures something essential about the work ahead: in times of radical uncertainty. the capacityto read beneath surfaces and build trust through authentic encounter becomes paramount. The Impact Trust operates at the intersection of critical analysis and generative possibility. We are in the business of 'next'_ recognisingthat uncertainty and complexity require agility rather than fixed frameworks. This agility manifests in our willingness to host difficult conversations. support experimental approaches, and bridge unlikely alliances. We strive to create conditions where rigorous critique meets imaginative possibility, where global perspectives inform local action, and where traditional boundaries between sectors. geographies, and disciplines become more porous. Our community includes toundation leaders questioningtheir assumptions, development practitioners designing alternatives, scholars examining extraction, movement leaders organising for dignity. humanitarian practitioners navigating impossible choices, and activists building new systems. This is expanding in 2026 to include the voices of informalworkers-the millions of women and men whose iabour sustains economies. but whose &xpertise rarely shapes the policies that affectthem. What unites this community is not agreement on solutions, but commitment to asking harder questions and supporting each other in the difficult work oftransformation. We understand that meaningful change requires both deconstructing systems that cause harm and constructing alternatives that serve life. Our dialogues. partnerships. and initiatives hold space for both dimensions of this work, recognisingthat critique without alternatives breeds cynicism while alternatives without critique risk naivety. Our 2026 priorities crystallise around several interconnected strands of work. With IFRC Europe and Red Cross Red Ciescent-Nation21 Societies. we are translating polycrisis thinking into practical preparedness. working with societi8s ready to integrate resilience thinking and futures literacy into their programmes, drawing on the Trust's established methodologyfor polycrisis literacy deveLoped through our Routes to Resilience and sustainability leadership programmes, with particular emphasis on Page 8
The Impact Trust l Annual Report 2025 intergenerational engagement that positions youth volunteers as signal-spotters and sense-m8kers. Our organisational resilience research. in continued collaboration with Belbin Team Roles. moves from findings to application-developing practical guidance on how organisations can cultivate the conditions where people matter and collective resilience emerges. Through WIEGO, we begin work as collaborative partners supporting donor convening around the informal economy- helping position the voices of street vendors, home-based workers, and waste pickers in philanthropic conversations where they have too often been spoken about rather than heard. We continue our Open Dialogues and deepen the Pre-emptive Peace exploration with Dark Matter Labs, examining what governance looks like when premised on anticipatory care rather than reactive response. Our inquiry into philanthropy's contradictions expands under the frame 'Help or Harm'_ examiningthe giving contradictions that emerge when well-intentioned interventions produce unintended consequences. and what a more reflexive. harm-aware philanthropic practice might look like. Throughout. the "Wax and Gold" theme willthread through our dialogues- exploring howtrust operates when certainties dissolve. and what practices enable authentic connection when surface appearances can deceive. The dialogues and partnerships of 2025 opened doors we did not anticipate- connections between Antarctic governance and pre-emptive peace. between organisational resilience and the experience of mattering. between the productive uses of anger and the long work ot institution8Lchange. We carry thes6 threads fOard with clearer direction than before, while remaining open to what emerges. The onvergent crises vve tace- ecological, social. economic. political- require responses thattranscend traditional categories. The Impact Trust seeks to provide infrastructure for this kind of boundary- crossingwork: creating conditions where new possibilities can emerge from honest reckoningwith current realities. Like the practitioners of wax and gold. we workto tind the deeper meanings beneath surface turbulonce, and to build th8 trust that makes collective action possible. This is howwe hold the vector- notthrough rigid plans. but through the patient cultivation of relationships, the courage to ask harder questions. and the commitmentto keep re-stitching alignment as the ground shifts beneath us. Financial Review 2025 Our workthrives through support from philanthropic trusts and foundations. Notable thanks to our core donors for continued investment in our IFRC collaboration. and to the many individual donors who understand the long-term importance of this work. Total grants received in the year 2025 amounted to £33.935 including Gift Aid income associated with individual donations. The charity maintains Ljnrestricted reserves equivalent to approximately four months of operational expenses, with seGured core fundinganticipated through 2028. Cash at bank atyear end £42,057. This report has been prepared in accordance with the Accounting and Reporting by Charities- St8tement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting standard forsmaller Entities (the FRSSE) (effectwe 1 January 2015). Approved by order of the Board of Trustees on 1°, February 2026 and sign its behalf by Walterwehrmeyer Trustee Anthony Trustee ot Page 9
Tha Impact Tmst | Annual Report 2025 INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 I report on the accounts forthe UKTrustforthe year ended 31 December2025. which are setout on pages 10 to13. Respective responsibilities of trustees and examiner The charitys trustees are responsible tor the preparation of the accounts. Th8 charivs Iruslees consider that an audit is not required for this year under the Charities Act 2011 (the 2011 Act) Section 144(2) and that an independent examination is required. It is my responsibilty: to examine the accounts under Section 145 ofthe 2011 Act. tofollow the procedures laid down in the general Directions given bythe Chartycommission under Section 145151 ofthe 2011 Act; and to state whether particular matters have come to my attention. Basis of the Independent examiner's report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept bythe charityand a comparison of the accounts presented wtththose records. It also includes consideration of anyunusual rtems or discLosures in the accounts and seeking explanations from the trustees concerningany such matters. The procedure undertaken to not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view,, and the report is litnited to those matters set out in the statements below. Independent examiner's ststement In connection with my examination. no matter has come to my attention: (1 > which gives me reasonable cause to believe that in any material respecL the requirements: (al to keep accounting records in accordance with Section 130 of the 2011 Act. and {b) to prepare accountswhich accord with the accountingrecords and complywrth the accountngrequirements of the 2011 ACL have not been met. or 121 to which, in my opinion. attention should be drawn in orderto enable a proper understanding of the accounts to be reached. Tiffany Putves FCA CA ISA) Director, About FindllGe Limited 9 Danesfield. Ripley, Surrey GU23 6LS Tel: +441483 223371 1st February 2026 Page 10
The Imp8Ct Trust l Annual Report 2025 Statement of UK Financial Activities FOR THE YEAR ENDED 31 DECEMBER 2025 Note 2025 2024 INCOMING RESOURCES Incoming resources trom generated funds Giants received (designated. restricted) Grants received lunrestrictedl Interest Income TOTAL INCOMING RESOURCES £ 31.368 £ 2.567 137 £129,477 £ 10,588 £ 40 £ 34,072 £140.105 RESOURCES EXPENDED Costs ofgenerating funds Operating costs Charitable activities To beneficiaries & advocacy progiammes TOTAL RESOURCES EXPENDED £ 8.971 £ 2,198 £73,932 £82,903 £ 60,076 £62,274 Net (outgoing)/ incoming resources (£48.831) £77,831 RECONCILIATION OF FUNDS Nei loutgoing)lincoming resources Total funds brought forward (£48,831 } £90,888 £77,831 £13,057 TOTAL FUNDS CARRIED FORWARD £42.057 £90,888 Page 11
The Impact Tmsl l Annual Report 2025 UKBALANCESHEET AS AT 31 DECEMBER 2025 Note 2025 2024 CURRENT ASSETS Cash at bank and in hand Debtors £42.057 £90,888 CURRENT UABILITIES Accruals NET CURRENT ASSETS £42,057 £90,888 FUNDS Restricted funds Designated unrestricted funds £ 38.057 £ 4,000 £ 88.778 £ 2.110 TOTAL FUNDS £42.057 £90.888 Trustees, responslbilitles In relatlon to the flnanclal statements The trustees acknowledge that they are responsible for preparing the Trustees, Report and the financial statemellt8 in accordancewith applicable law and United Kingdom Accounting St3ndards. The law applicable to charities in England and Wales requires the trustees to prepare financial siatements for each fiscal year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparingthese financial ststements, the trustees are required to: Select suitable accounting policies and then apply them conslstently. ObseNe the methods and principles of the Charities SORP Makejudgements and estimatesthat are reasonable and prudent State whether applicable accounting st8ndards have been followed. subjectto any departures disclosed and explained in the financial statements; and Prepare the financial statements on the going concern basis unless it is inappropriate to do so. The trustees are responsible for kg8ping8ccounting records which disclosa with reasonable accuracythe financial position ofthe charity and enable them to ascertain to ensure thatthe financial statements comply with the Charitie8 Act 2011 and the provisions otthe tnjst deed. They are also responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the integrity of the charity and financial information included on the charitys website. The Charity is entitled to exemption from audit under Section 144121 ot the Charities Act 2011 {the 2011 Act). Approved by resolution of the Board of Trustees on 151 February 2028 and stgned on its behalf by Walterwehrmeyer Trustee Anthony Notcutt Trustee Page 12
The Jmpacl Trust l Annual Report 2025 NOTESTOTHE UK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting Policies The financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities IFRSSE) (effective January 2015) and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. Incoming resources All incoming resources are included on the Statement ot Financial Acttvities when the charity is legally entitled to the income, and the amountcan be quantrfied with reasonable accuracy. Thevalue of the donated goods and facilities as well as services provided byvoiunteers has not been included in the accounts. Resources expended. Charitable expenditure comprises those costs incurred by the charty in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessaryto support them. Expendittjre is recognised as a liability at the time it is incurred. Governan costs include those costs associated wrth meeting the constitutional and statutory requirements of the charity and costs linked to the strategic management of the charity. Grants offered subject to conditions which have notbeen met atthe year-end date are noted as designated ftjnds committed but not accrued as expenditure. Charitable activities This relates to grants given either to the Trusvs subsidiary in South Africa or to its partnership beneficiaries in the UK according to the intentions and specifications of the donors to specific charitable activities. Taxation The charty is exempt from tax on Fts charitable activities. Fund accounting Unrestrictod funds These can be used in accordance with the charitable objectives atthe discretion of the trustees. Designated funds Designated funds are unrestricted funds earmarked for specific objectives or a particular project and can be used at the discretion ol the trustees to turther the objecb-ves of the project concerned. Restricted funds Restricted funds can only be used for particular purposes within the objects of the charty. Restrictions arise when specified by the donor or when funds are raised for particular focused. and therefore restricted. purpose. Costs of generating voiuntsry income Costs associated with generating voluntary income include costs related to (i) fundraising activities such as events. network membership fees. database subscriptions, staffing costs and related administrative or othersupportactivities necessaryto secure fundingsupport for the trust's activÉties and those of its panershIp organisations. lill Governance and accounting costs associated with meeting the constitutional and statutory requirements of the ch81ity and costs linked to the strateg)c management of the charity. During the year, no staffing costs were incurred for fundraising activity and fundraising costs were Ihus limited to administrative. stationery, postage. communications, and membership I subscription fees associated with database subscriptions. network membership, donor travel and participation in keyfundraising events. No remuneration orsimilar benefits of any kind were paid to trustees forthe year ended 31 December 2024 nor were any expenses incurred for the activities or support offered bytrustees. Page 13
The ImpaGI Trust | Annual Report 2025 DEfAILED STATEMENT OF UK INCOMEAND EXPENDITURE FOR THEYEAR ENDED 31 DECEMBER 2025 2025 2024 INCOMING RESOURCES Voluntary Income Grants received (designated. restricted) Grants received lunresirictedl Interest Income £ 31.368 2,567 137 £129,477 £ 10,588 40 Total income £ 34072 £140,105 RESOURCES EXPENDED Charitable activities Grants remitted to beneficFary projects/ organisations Support ¢osts Bank charges Conferences Telecomtnunications Marketing & Brand Development Off ice Expenses l Technologyl Equipment Partnerships / Fundraising Professional Fees Other: Memberships, Subscriptions. Domains Travel £ 73,932 £ 60.076 303 £ 2.428 É 1.265 66 526 428 455 400 £ 3,594 571 £ 1.133 Total costs £ 82,903 £ 61274 Net {outgoing)lincoming resources Total funds brought forniard Total funds Carried forward 1£48.831) £ 90.888 £ 42.057 £ 77.831 £ 13.057 £ 90.888 Page 14