MAPLE LEAF TRUST (FORMERLY KNOWN AS THE CANADA-UK FOUNDAnoN) ANNUAL REPORT AND THE UNAUDITED FINANOAL STATEMENTS FOR THE YEAR ENDED 31STJULY 2025
MAPLE LEAF TRUST (FORMERLY KNOWN AS THE CANADA-UK FOUNDATION) INDEX TO ThE FINANOAL STATEMENTS FOR THE YEAR ENDED 31STJULY 2025 Page No. TrustEe5' Report 1-6 Independent Examiners. Report Ststement of Financial Attivities Balance Sheet Note5 to the Financial Statements I18
MAPLE LEAF TRUST (FORMERLY KNOWN AS THE CANADA-UK FOUNDATION) TRUSTEES ANNUAL REPORT ST YEAR ENDED 31 JULY 2025 The Trustees present their annu31 report together with the financial staternent5 for the year ended 31 July 2025. The Trust has prepared its accounts in accordance with the Charitie5 Act 2011, the requirements of the Trustrs governing document and the'Accounting and Reporting by Charities.: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Finanual Reporting Standard applic3ble in the UK and the Republic of Ireland {FRS 1021 effective I" January 2015. BACKGROUND Maple Leaf Trust (Formerly known as Canada-UK Foundation) is a Charitable Incorporated Organisation ICIOI govemed by its constitution. The Clo was formed in August 2016 and registered with the Charity Commission for England and Wales. On April 1 2025. all the assets and liabilities of Maple Leaf Trust, the Canadian Centennial Scholarship Fund and the Canadian Memorial Foundation were transferred to the Canada UK Foundation. Thi5 "mergerf brought together four UKCanadian Charities under one umbrella. The Canada UK Foundation was then renamed the Maple Leaf TrusL LEGAL AND ADMINISTRATIVE DAlL5 Name of Charity: Maple Leaf Trust (Formerly known as The Canada-UK Foundation) Reglstered Charity No.. 1168630 Addr. Canada House, Trafal8ar Squore. London, 5WIY 58J Legal form: Charitable Incorporated Organisation (CIO) Professlonal Advlsers: Bankers: Metro Bank Investment Managers and Advlsors.. Legal and General Investments, PO Box 6080, Wolverhampton, WVI 9RB Independent Examiner: Mario Koureas FCC& Hetherington & Co. 289 Green Lanes. Palmers Green, London, N13 4x3 Canadian Status: In addition to being a registered charity in England and Wales, and thus eligible for United Kingdom charity tax reliefs. the Foundation as a CIO is recognised by the Canadian government as a charity able to issue Canadian tax retripts during the period March 2023 to July 2025. TRUSTEES The following board members served during the year under review were as follows: Mr Robert Brant Mr Steven Lowe Mr William Swords, Chair {resigned 1st April 20251 Professor Jonathan Heeney (resigned 1st April 2025) Mr Nisel Miller {resi8ned 1st April 2025) Reverend Dr. Allan Doig (resigned 1st April 2025} Mr Matthew Grisoni Iresigned 1st April 20251 Ms Gabrielle Shaw Iresigned 1st April 20251
MAPLE LEAF TRUST (FORMERLY KNOWN AS THE CANADA-UK FOUNDATION) TRUSTEES ANNUAL REPORT YEAR ENDED 31 JULY 2025 TRusfEES (Continued) Mr Jerry del Missier lappointed 1st Aprll 2025) Mr Ashley Gallant (appointed 1st April 2025) Mr Douglas McPhee (appointed 1st April 2025) Mr Scott Mcvittie (appointed 1st April 2025) Ms Courney Lay (appointed 1st April 20251 Ms Kaylyn Fraser {appointed 1st April 20251 Mr Neil Johnson {appointed 1st April 20251 Ms Katharine Davidson (appointed 1st May 2025) Mr Richard Ne5bitt lappointed 1st May 2025) Ms Kirsty MacDonald lappointed 10th July 20251 Others H.C. Ralph Goodale, the High Commissioner of Canada Served as a Patron of Maple Leaf Trust. Trustee Appolntment and Indurtlon Policy Trustees are recruited throuEh public and external recruitment and publicity- The Trust has established that a maximum of fifteen Trustees would always be enough. New trustee appointments are ratified at the next upcoming Board meeting. A comprehensive pack of information is provided for new Trustees about the charity. Such documentation comprises copies of the tharivs constitution, the latestAnnual Report and Accounts, the Minutes of the latest Board meetin& the documents on Risk Analysis and a listing of Trustee responslbilitles. In addition, the new Trustee 15 advised of the (Vent i55ues facing the Foundation. Training is provided, as required. Duration of Board Membership Members of the Board are now elected bythe Board for a term of three years. They can be re-elected for multiple term5. The retiring Trustee remains in office until a new appointment is made, if the retirement of the Trustee after the three years causes the number of Trustees to fall below the minimum. sTrucruRE. GOVERNANCE AND MANAGEMENT The Trustee5 Qf the Trust meet at least quarterly and more frequently as required. The Trustees delegate actlvitles to designated committees and sub-8roups as required to carry out specific functions such as strategic planning or fundraising; selection of candidates for awards; application reviews for annual grants etc. All attivities of sub-8roups and committees are discussed by the Board for approval or ratification of decisions. Day to day administration of the Trust is managed by the Executive Officer and others as appropriate. At each of their meetings, Trustees monitor progres5 against the agreed strategy and key performance indicators such as fund-raisin& grant making. investment and reserves. The expertise of the Trust board members, employees and external adwsors 15 necessary forthe board to make informed judEments about the funding of the Academic and other projects it supports. Trustees are required to disdose all relevant interests and register them with the Board and in accordance with theTrust's polivi withdraw from decisions where a conflict of interest may arise.
MAPLE LEAF TRUST IFORMERLY KNOWN AS THE CANADA-UK FOUNDATION) TRUSTEES ANNUAL REPORT YEAR ENDED 315T JULY 2025 SUMf¥lARY OF ACHIEVEMENTS AND CHALLENGES Summary of the main activities of the tharity in relation to its objects The objects of the Charity are: 11 The advancement ofthe education of the public in Canada and the United ifjngdom concerning the culture, heritage, history, Indigenous groups. environment and other matter5 relating to both countries. by doing the following.. providing structured learning program5, including but not limited to, seminars, workshops and panel discussions. providing endowments to e(lucational institution5 ill the United Kingdom of chairs of Canadian studies- and providing grants, bursaries and scholarships or other forms of financial assistance to any person to enrol in educational institutions andlor trainin8 programmes in the United Kingdom or Canada.: 21 To relieve poverty. distre55 and sickness for the public benefiL particularly for Canadian citizens or persons of Canadian origin and their families. special reg3rd being given to the relief of need amongst former Canadian Amed Forces men and women and their dependents who are in need 2nd Sident in the United Kingdom. includin& without limitation. providing financial assistance to in-need Canadian veterans and their families living in the United knnsdom by organising fundraising events, and 31 The advancement of health or the savin8 of lives by gifting funds to registered charities involved in cancer research and to raise awareness of cancer research. includin& without limitation. organising and promoting various Terry Fox Runs for Cancer Research in the United Kingdom. MERGER This year marked a significant development as several Canadian organisations operating in the UK. including the Canada-UK Foundation, C3n3da Memorial Foundation. Terry Fox Run UL and the CCSF, agreed to effectively merge under the Maple Leaf Trust IMLTI umbrella. This collaboration aims to streamline operations. reduce duplication, and enhance our collective impact for Canadian veterans, scholars, and cancer research Initiatives. This merger has been met with strong 5UPPOrt from Stakeholders and our Patron, the Honourable Ralph Goodale, Canada'5 High Commissionerto the UK. Full regulatory approval of the merger was achieved in Marth 2025. with the effective "mer8ert date of 1st April 2025. following ongoing processes with the Charity Commission and Companies House. We are grateful for the pro-bono legal 5UPPOrt provided by Weil, Gotshal & Manges {Londonl LLP in facllitsting this process. As of 1st April 2025, the assets and liabilities of the Maple Leaf Trust. the Canadian Centennial Scholarship Fund and the Canadian Memorial Foundation were transferred to the Canada UK Foundation. This"merger' brought together four UK Canadian Charities under one umbrella. The Canada UK Foundation was then renamed the Maple Leaf Trust. Under the new and reinvigorated Maple Leaf Trust, Canadian charities in the UK will work tO8ether to continue to fund and celebrate outstsnding Canadians so their contributions will continue to inspire the world.
MAPLE LEAF TRUST (FORMERLY KNOWN AS THE CANADA-UK FOUNDATION) TRUSTEES ANNUAL REPORT YEAR Et4DED 31- JULY 2025 ACTIVITIES FOR THE PUBLIC BENEFtt The Charity Commi55ion in its Charitie5 and Public Benefit Guidance requires that there are two key principles to be met to show that an organi5ation's aim5 are for the public benefit. Firstly, there must be an identifiable benefit. Second, the benefit rnust be to the public or a section of the public. The Trustees confirm that in setting the TrusY5 objectives and in planning its activities, that they have compiled with the duty under sertion 17 of the Charities Artto have reBard to the Charity Commission'5 general guidance on public benefit. Main artivltles undertaken by the Trust to further Its charltable purpose for the public benefit Introduction The Maple LeafTrust (formerly known as The Canada UK Foundation following the l April 2025 merger) undertakes variou5 attivities which have been presented in these financial statements on a combined post- merger basis. These programmatic activities will continue in the future to support education. veterans and cancer research. The Maple Leaf Trust funds and celebrates outstanding Canadian5 50 their contribution5 will continue to inspire the world. We do this through our support for Canadian veterans, scholars and cancer researchers. In the period prior to merger the historic Maple Leaf Trust Ltndertook the following activities in year to 31" March 2025. Supporting veterans Our work with veterans Comprises two main areas- Dirert Assistan to Veteran5: We honour Canada's legacy by supporting Canadian veteran5 and their families residing in the UK. Traditionally. our sUPPOrt has primarily a5515ted World War11 veterans and their families through quarterly grants. cold weather payment5, and personal card5 of encouragement. In 2025 we partnered with the Commonwealth War Graves Commission to support Canadian War Graves in the UK expanding our outreach. Educatlonal Programs Honourin8 Veterans: to fund and celebrate outstanding Canadians so their contributions will continue to inspire the world. Now in the fifth year of delivery, Stories Behind the Poppy delivered three digital events acr055 SIX time zones to mark 80 years since D-Day. Schools from across Canada and the United Kingdom attended to learn about the historyof D-Day. to hear a first-hand account of what it was like there and to engage in creative activities with their peer5 in another country. Overview of Impart Teachers Young people Schools 280 Teachers 14,490 young people 189 unique schools 174 UK Teachers 7579 UK students 90 UK 5choo15 106 Canadian Teachers 6911 Canadian students 99 Canadian schools
MAPLE LEAF TRUST (FORMERLY KNOWN AS THE CANADA-UK FOUNDATION) TRUSTEES ANNUAL REPORT YEAR ENDED 315TJuLY 2025 5upportin8 scholar5 through our scholarship program Through the Canadian Centennial Scholarship Fund ICCSFI. we awarded over £75.000 annually in scholarships, supporting 14 postgraduate scholars across the UK. Since its inception. the CCSF has awarded more than 500 scholarships. cultivating Canada's future leaders in academia and the arts. In November, we co-hosted a networking reception at Canada House, uniting past and present CCSF scholars and showcasin8 their contributions to various fields. Acknowledgments We are immenselygrateful forthe support of our patron. Hi5 Excellency the Honourable Ralph Goodale, who artively enga8ed with our programs. induding deliverin8 a keynote at the annual CCSF networking reception. The Maple Leaf Trust will continue with these programmes in conjunction with the preparation of the biannual Maple Leaf Ball which be held on May 14, 2026. This has historically been the main fundraising vehicle for the trust. The net surplus from this ball w411 continue to fund the programmes of the Maple Leaf Trust. Strateglc Collaboratlon This year marked a signilicant development as several Canadian organisations operating in the UK. including the Canada-UK Foundation, Canada Memorial Foundation. Terry Fox Run UK. and the CCSF, agreed to effectively merge under the Maple Leaf Trust IMLT) umbrella. Thi5 collaboration aims to streamline operation5, reduce duplication, and enhan our collective impart for Canadian veterans. scholars. and cancer research initiatives. This merger has been met with strong support from stakeholder5 and our Patron, the Honourable Ralph Goodale. Canada's High Commissionerto the UK. FINANCIAL REVIEW The results ofthe year are set out on page 8. The Trust recorded totsl income of £376,400 in the year under review. This predominantly represented the net assets transferred by The Maple LeafTrust, Canadian Centennial Scholarship Fund and The Canada Memorial Foundation on tst April 2025, being the mer8er date. Of thi5 total £144.989. £144,497 related to unrestricted donation5 from The Maple Leaf Trust with the balance £492 received from individuals. The Trust also received restricted donatlons totslling £231.411 from The Canadian Centennial Stholarship Fund and The Canada Memorial Foundation. During the year. the Trust incurred expenditure totalling E39.370 of which £14,920 related to direct funding of scholars and veterans {see note 6. page 15). At the year-end date, the Trust held £130.970 in unrestricted funds and £218,922 in restricted funds. The Trustees are satlsfied with the results and a confident that the Trust has sufficient resources to continue as a going concern. RESERVES POUC( The Trustees re8ularly monttor the level of income reserves available to ensure that the Trust is able to discharge its administrative costs as well as give donations that are affordable. The Trustees also consider the level of reserves held at any given moment should be sufficient to rover exposure to any significant unforeseen10s5 of income and to ensure the short-term liquidity and long-term financial stability of the Trust. The policy would also allow the Trust time to consider and respond to its responsibilities.
MAPLE LEAF TRUST (FORMERLY KNOWN AS THE CANADA-UK FOUNDATION TRUSTEES ANNUAL REPORT YEAR ENDED 31" JULY 2025 INVESTMENT POLICY The Trustees. policy over their investments is that they should achieve a maximum current income consonant with the intention that. in the longer term. the income stream must increase by at least the rate of inflation. To do this, the Trustees, together with their investment advisers, will continue to monitor the Trusys Portfolio. TRUSTEES, RESPONSIBILMES Charity law require5 the Trustee5 to prepare financial statements for each financial year that give a true and fair view of the Charitvs financial activities during the year and of its financial posltion at the end of the year. In preparing financial statements giving a true and fair view. the Trustees should follow best prattice and. Select suitsble accounting policies and then apF4y them consistently. observe the method5 and principle in the Charities 50RP 2019 IFRS 102) Make judgements and estimates that are reasonable and prudent Prepare finanoal statements on a going concern basis unles5 It 15 inappropriate to presume that the Charity will continue to operate. The Trustees are responsible for keepin8 accounting records which disclose with reasonable accuracy the financial position of the Charlty. and which enable them to ensure that the financial statements comply with the Charities Art 2011 and the Chariws Constitution. They are also responsible for safeguarding the assets of the Charity and hence for takin8 reasonable steps for the prevention and detection of fraud or other irregularities. Approved on b half of the Board of Trustees on 6th April 2026 by: Mr Robert Brant (Trustee)
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF MAPLE iEAF TRUST (FORMERLY KNOWN AS THE CANADA-UK FOUNDAnoN) I report to the charity trustees on my Èxamination of the accounts of Maple Leaf Trvst CIO (Formerly known as Canada UK Foundation) for the year ended 31" July 2025. which are set out on pages 8 to 18. Responsibilltles and basls of report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirement5 of the Charitbes Att 2011 {'the Act,). I report in respect of my examtnation of the Charity's accounts as carrled out under settion 145 of the 2011 Act and In carrying out my examination, I have folli)wed all applicable Directions given by the Charity Commission under section 14515)Ib) of the 2011 ACL Independent examlner's statement The charit$ gross Income exceeded £250,000 and l am qualified to undertake the examination by belng a quallfied member of the Association of Chartered and Certified Accountants. I have completed my examination. I confirm that no material matter5 have come to my attention in connection with my examination which gives me cause to believe that in any material respett: accountlng records were not kept In respect of the Charity as required by Section 130 of the 2011 Act" or the accounts do not accord with the accounting records; or 3. the accounts do not comply with the applicable requlremÈnts concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairview whlch is not a matter con51dered as part of an independent examination. I have no concerns and have come across no other matters in connectlon with the examination to which attention should be drawn in this report In orderto enable a proper understanding of the accounts to be reached. M Kourea5 FCCA Hetherington & Co Chartered Certified Accountants Second Floor,289 Green Lanes, Palmers Green. London N13 4x5 Dated: 6th April 2026
MAPLE LEAF TRUST (FORMERLY KNOWN AS THE CANADA-UK FOUNDATION) STATEMENT OF FINANCTAL ACTIVITIES FOR THE YEAR ENDED 31STJULY 2025 Restated Total 2024 General Fund Restritted Funds Total 2025 Note INCOME AND ENDOWME5 Incomlng resources from generated funds Donations and legacies 144.989 231.411 376,400 2,447 Other income 3,333 Total 144,989 231.411 376,400 5.780 EXPENDITURE ON Raising Funds 3.965 3,965 Charitable expenditure- 15,038 20,367 35.405 18.740 Total 19,(K)3 20,367 39,370 18.740 Net incomel (expenditure) for the year before gains (losses) on investments 125.986 211.044 337,030 112,9601 Net gains1105se5) on investment assets 7,878 7,878 Net Movement in funds for the year 125,986 218,922 344.908 112,960} Reconciliation of funds Total funds brought forward 4384 4,984 17.944 Total Funds carried forward 130,970 £ 218.922 £ 349,892 £ 4.984 The notes form part of these finanoal statements
MAPLE LEAF TRUST IFORMERLY KNOWN AS THE CANADA-UK FOUNDATION) BALANCE SHE AS AT 31ST JULY 2025 Restated 2024 2025 Note FIXEDASSETS Tangible Assets Investments 119,940 119,940 CURRENT ASSETS Debtor5 Cash at bank and in hand io 18,235 215.738 12,951 233,973 12,951 CREDITORS: Amounts falling due within one year 4.021} [7,9671 NET CURREKf ASSErs 229.952 4,984 NET ASSETS 349,892 4.984 REPRESENTED BY.. General Fund Restricted Fund 14 14115 130.970 218,922 4.984 349.892 4,984 Approved on behalf of the Governin8 Body on 6th April 2026 by.. . Mr Robert Brant (Trustee) The notes fom part of these financial statements
MAPLE LEAF TRUST {FORMERLY KNOWN AS THE CANADA-UK FOUNDATION) NOTE5 TO THE FINANCIAL StATEMENTS FOR THE YEAR ENDED 31ST JULY 2025 ACCOUNTING POUCIES The principal accounting policies adopted in the preparation of the financial statements were as follow5- 1.1 Basls of Accountlng The financial statements have been prepared in accordance with the Accounting and Reporting by Charities.. Statement of Recommended Prattice applicable to Charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the VK and Republic of Ireland IFRS 1021 (effective 1st January 20151, The Charities Act 2011 and applicable re8ulations. The financial ststements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise ststed in the relevant note{51 to these accounts. The financial statements are prepared in sterling. Monetary amounts are rounded to the nearest E. The Charity meets the definition of a public benefft entity a5 defined by FRS 102. 1.2 Going ¢oncÉrn The Trustees have assessed whether the use of the going concern basis is appropriate and have considered Possible events or conditions that might cast doubt on the ability of the Charity to continue a5 a going concern. Havlng assessed the Charity's fijture cashflows and projections. the Trustees have concluded that it has SLrfficient resources to tontinue in operational existence for the foreseeable future and consequently it appropriate to continue to adopt the goin8 concem ba515 in preparing its financial statements. 1.3 Income Voluntary income including donation5. gifts. legacies or Srants from various individuals, corporations and charitable foundatb?ns are recognised where there is entitlement. any conditions attached to the itemlsl of income have been met, it is probable that the income will be received and the amount can be measured reliably. Such income is only deferred when: al The donor specifies that the grant or donation must onty be used in future accounting periods. bl The donor has imposed condttions whith must be met before the charity has unconditional entrtlement. Income generated from fund rdising events is recognised when earned. Income tax recoverable in relation to donations received under gift aid or deeds of covenant 15 recognised at the time of the donation. Income tax recoverable in relation to donations received under gift aid or deeds of covenant IS recogni5ed at the time of the donation and when there is a valid declaration from the donor. For Legacie5. entitlement is tsken as the earlier of the date on which either: the charity is aware that probate has been granted. the estate has been finalised and notification ha5 been made. or when a rlistribution is received from the estate. Receipt of a legacy in whole or in part is only considered probable wh2n the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity. or the charity is aware of the granting of probate and the criteria for income recognition have not been met, then the legacy 15 treated as a contingent IA Donateql good5 and 5efvices Donated services and frdcilttie5 are recognised a5 income when the charity has control over the item, any conditions associated with the donated item have been met. the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. No value is placed on the donated profe55ional legal service5 received, as the economic benefit cannot be measured reliably, due to lack of information generally and due to difficulty in determining and measurin8 the market value of the support given. io
MAPLE LEAF TRUST (FORMERLY KNOWN AS THE CANADA-UK FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31STJULY 202S AccouMfiNG POLICIES 1.5 Income from interest Interest on fund5 held on deposit is included when receivable and the amount can be measured reliably by the charity. 1.6 Investment galns and losses Thi5 includes any realised or unrealised gains or1055es on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. 1.7 Resources Expended Expenditure is recognised ono 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 reliabFy. Expenditure is cla$5ified under the following headings= Cost of raising funds are those costs incurred in attracting voluntary income. Expenditure on charitable artivities includes all direct costs inojrred to further the purpose of the charity together with associated support costs. Other expenditure represents those items not falling into any other headin& Grants payable refer to payments made to third parties in furtherance of the Charity'5 objects. Grants are accounted for when either the recipient has a reasonable expertation that they will receive a grant and the Governing Body have agreed to pay the Brant without condition, or the recipient has a reasonable expectation that they will receive a grant and the condition attaching to the grant is outside the control of the Goveming Body. Provision for grants are made when the intention to make a grant has been communicated to the recipient unless there is uncertainty about either the timing of the grant or the amount of the grant payable. 1.8 Taxation and Miscellaneous As the charity is a registered charity, it is not liable to incorne tax on its charitable attivities land it does not undertake any non-charitable trading). The charity is unable to recover VAT, and all expenditure is thus stated inclusive of VAT vthere applicable. Other policies are explained within the notes on Specific aspects of the accounts. 1.9 Allocation of support Costs Support costs relate to those costs incurred direcdy in support of expenditure on the Charity's objects, which cannot be directly attributed to particular activities. Governance costs include those costs incurred in the governance of the Charity and are primarily a550Clated with constitutional and statutory requirements. Both support and governan costs have been allocated between the Foundation's charttable activities and the basis on which the support costs have been allocated are set out in note 4. li
MAPLE LEAF TRUST IFORMERLY KNOWN AS THE CANADA-UK FOUNDATION) NOTES TO THE FINANCIAL STATEMEMrs FOR THE YEAR ENDED 31ST JULY 2025 ACCOUNTING POLICIE5 1.10 Tanglble Ilxed assets All tangible fixed asset expenditure is capitalised at cost. Provision is made for depreciation on all tangible fixed assets, at rates calculated to write off the cost or valuation less residual value of each asset over its expected useful lrfe as follows- Fixtures. fittings and equipment - 33.33% straight line At each reporting end date. the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impaimient loss lif any). 1.11 In¥e5tments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balan sheet date using the closing stock market price. The Ststement of Financial Artivities include the net goin5 and losses arising on the revaluation and disposals throughout the year. 1.12 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other 5hort-term liquid investments with ori8inal maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.13 Ba51c Flnancial instruments The charity accounts for basic financial instruments on initial recognition as per paragraph 11.7 FR5102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FR5102 SORP. 1.14 8aslc flnanclal assets Basic financial a55ets, which include debtors and cash and bank balances. are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. where the trans3ction 15 measured at the present value of the future receipts discounted at a market rate of interest. Financial assets ¢las5ified as receivable withln one year are not amortised. 1.15 Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recogni5ed at transaction pri unless the arrangement constitute5 a financins transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilitie5 cla55ified as payable within one year are not amortised. Trode creditors are obligations to pay for goods or seNices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are da55ified as current liabilities if payment is due within one vear or less. If not, they are presented as non-turrent liabilities. Trade creditor5 are recognised initially at transaction price and subsequently measured at amortised cost usinE the effective interert method.
MAPLE LEAF TRUST IFORMERLY KNOWN AS THE CANADA-UK FOUNDATION) NOTE5 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2025 ACCOUNTING POLICIES 1.16 Fund accounting Unrestricted fund5 are available to spend on activities that further any of the purposes of the charity. Desi8nated funds are unrestrirted 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'5 work or for specific projects being undertaken by the charity. 1.17 Crltlcal 3ccountlng estimates and judgements In the application of the charity's accounting policies. the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevanL Actual results moy differfrom these estimates. The estimates and underlying assumptions are reviewed on an ongoing ba515. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future period5 where the revision affects both current and future periods. 13
MAPLE LEAF TRUST (FORMERLY KNOWN AS THE CANADA-UK FOUNDATION) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315TJULY 2025 Restated Total DONATIONS AND LEGACIES General Fund Restricted FLtnd5 Total 2025 2024 Donation5 received on merger Donations from individuals 144,497 492 231.411 375.908 492 2,447 144.989 231.411 376,400 2,447 OTHER INCOME The comparative figure relate5 to income received from the Canada Memorial Foundation for administrative and stewardship duties perfomied by Maple Leaf Trusi {Formerly known as Canada-UK Foundation). ALLOCATION OF SUPPORT COSTS (INCLUDING GOVERNANCE COSTS} The charity Initial identifies the costs of its support functions. It then identifies those costs which relate to the 8overnance function. Having identified its governance costs, the remaining sUPPOrt costs are apportioned between charitsble activities undertaken in the year. Referto the table below forthe basi5 of apportionment and the analysis of sUPPOrt and governance costs. Restated allocation Costs Governance Total 2025 2024 Staff costs Independent examiners fee and Communication costs General Offi expenses Administrative support costs Advert15in8 and marketin8 costs Printing and editorial costs rime 8,253 3,224 I,ioi 244 USaEe 4.625 4,625 1.863 1,272 15.000 1.690 usage 1,863 1,272 Usa8e Usage 1,895 4,453 1,019 usage 1,690 U53ge 19.825 4,625 24,450 20.189 14
MAPLE LW TRUST (FORMERLY KNOWN AS THE CANADA-UK FOUNDATION) NOTES TO THE FINANCIAL STATEMEKrs YEAR ENDED 31STJULY Z025 COST OF RAISING FUNDS Restated Total 2024 General Restritted Total Fund Fund5 2025 Allocated support costs 3,965 3,965 3.965 3,965 ANALYSIS OF CHARITABLE EXPENDITURE Restated Totsl 2024 General Funds Restricted Funds Total 2025 UK travel awards UK doctoral 5tuden5hips Seed funding Veteran5 5UPPOrt committee fund Scholarship award5 and other related costs Programme delivery fees and netsvroking costs Allocated support C05ts 962 I,ooo 16,1111 5(Kl 500 14,420 14.420 2,700 20,189 14.538 5,947 20.485 15.038 20.367 35.405 18,740 For the year ended 315t December 2025. charitable expenditure wa5 £35,40512024: £18,740> of which £20,36712024'. £nil) was expenditure from restricted fund5. ANALYSIS OF STAFF COSTS Restated Salary 2025 2024 8,253 8,253 The average number of ernployee5 durin8 the year was nil (2024: 21. No member of stsff earnod more than £60,000. The Trustees did not receive any remuneration or benefits in kind12024.. ENill. The Charity paid £15,000 for admi5trative support via a freelance consultant and this cost is shown under support cost. 15
MAPLE LEAF TRUST (FORMERLY KNOWN AS THE CANADA-UK FOUNDATION) NOTES TO THE FII4ANCIAL STATEMEKtS YEAR ENDED 31STJULY 2025 TANGIBLE FIXEDASSETS Office Equipment Cost: Balance brought forward IstAu8USt2024 Additions in the year Disposals At 31st July 2025 880 880 Depreclatlon.. Balance brought forward 1st August 2024 Disposals in the year Charge for year At 31st July 2025 880 {8801 Net book value at 31st July 2025 Net book value at 315t July 2024 INvE5fME5 2025 2024 Market Value as 3t 1st August 2024 Additions to investments at cost Disposals proceed5 Realised and unrealised gains for the year 112.062 7.878 119.940 Cash held with broker5 Market Value as at 31st July 2025 119,940 £ Inve5trnents at market value comprise: UK and European equities 119,940 Historical cost as at 3tstJuly 2025 112,062 £ The above investments form part of the retTiCted funds. 16
MAPLE LÉAF TRUST IFORMERLY KNOWN AS THE CANADA-UK FOUNDATION) NOTES TO THE FINANCIAL STATEMEpirs YEAR ENDED 315TJULY 2025 Restated 2025 2024 io DEBTORS Sundry debtor5 and prepayments 18,235 18,235 Restated 2024 li CREDITOR5- AMOUNTS FALUNG DUE WIThIN ONE YEAR 2025 Other creditors and accruals 4,021 4,021 7,967 7,967 12 OPERATING LEASE COMMITMENTS The Trust has no commitments for future lease payments. 13 ANALYSIS OF NASSE[s BEtWEEN FUNDS General Funds Restritted Funds Total Fixed assets Investments 119,940 98,982 119,940 233,973 4.021 349,892 Current assets Creditors 134,991 (4.021) 130,970 218.922 14 FUNDS Asat Incoming Resource5 Outgoing Re5ource5 Inter-Fund Asat 1.8.2024 Transfers 31.07.2025 General funds 4,984 144,989 119,0031 130,970 Restricted funds The Scholorship Funds.. Canadian Centennial Schol3r5hip Fund 121.257 121,257 Canada Memorial Foundation Fund 118,032 (20.367) 97,665 4,984 384,278 139,370 349,892 17
MAPLE LEAF TRUST (FORMERLY KNOWN A5 THE CANADA-UK FOUNDATION) NOTES TO THE FINANCIAL sfATEMENTS YEAR ENDED 315TJULY 2025 15 RESTRicfED FUNDS Canadlan Centennlal Scholarship Fund This fund relates to schcAatship5 given to Canadian pOStOduates studying at differrent universities, colleges, and conseNatories across the United Kingdom. Scholarships are given annually. Recipients are chosen on the basis of academic excellence. as well as on their ability to represent Canada within the UK ac2demic and artistic community. Awards are granted to stholar5 from a wide range of disciplines including scien. engineerin& social science. music. humanities, and creative arts and design. Canada Memorial Foulation Fund This fund relates to providing life4hanging s(holarships for exceptional British students to pursue postgraduate study in Canada. 16 RELATED PARTY TRANSAcfioNS The Trustees did not receive any remuneration or benefits in kind12024- £Nill. During the year the Charity paid £Nil (2024= £Nill for any of the Trustees in respect of expenses incurred in connection with their duties as Trustee5. Donations and fundraisin8 income received from related parties (Trustees) for the year was £Nil {2024,. £Nill. 17 CHARITY LEGAL STATUS The Maple Leaf Trust (Formedy known as Canada-UK Foundation) is a Charitsble Incorporated Organisation and registered with the Charity Commi55ion for England and Wales (charity number 11686301. 18