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
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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
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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.
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The Impact T￿st | 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 naV￿ate 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
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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
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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
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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
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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 fO￿ard 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
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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
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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
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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
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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 pa￿nershIp 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.
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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
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