SIRSIM MILT FOUNDATION THE SIRSIMON MILTON FOUNDATION TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31" DECEMBER 2025 Registered Charity Number.. 1174405 THE SIR SIMON MILTON FOUNDATION TRUSTEES. ANNUAL REPORT 2025 CONTENTS Page Trustees, Report Reference and Administrative Details Message from the Chairman Overview Structure, Governance and Management Objects ind Activities Achievements & Performance 2025 10 Financial Review of the Year 14 Statement of Trustees, Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet Statement of Cash Flows 20 Notes to the Financial Statements 21-30 THE SIR SIMON MILTON FOUNDATION TRUSTEES. ANNUAL REPORT 2025 Reference and administrative details Trustees David Shaw OBE. Chairnian Robert Davis MBE DL Deputy Chairman Sally Angel Tim Cohen Sue Hantman. Honorary Treasurer Alex Horner Lisa Milton (resigned 17 September 20251 Annie Walker Clerk to Trustee5 Catherine Ind Registered charity number 1174405 Principal Address 6 Trull Fami Buildings, Tetbury, Gloucesiershire, GL8 85Q ClerkingAdministration and Accounting Services The Trust PartnershiplTrust Accounring 6 Trull Farm Buildings Tetbury Gloucestershire GL8 8SQ Independent Examiner Adam Fullerton FCA DChA Moore Kingston Smith LLP 9 Appold Street London EC2A 2AP Bank HSBC Bank plc 16 King Street London WC2E 8JF Sollcltors BDB Pitmans LLP One Bartholomew C105e London ECIA 7BL Stone King LLP Boundary House 91 Charterhouse Street London ECI M 6HR THE SIR SIMON MILTON FOUNDATION TRUSTEES. ANNUAL REPORT 2025 Message from the Chair In 2025 we made further progress in line with the Board's 2024 strategy review and made successful steps in moving this forward with the the launch of two new charity initiatives, which we have committed £800,000 to over the next five years. A thorough scoping exercise was undertaken by the Board where we reviewed twelve potential opportunities, shortlisted five of these and ultimately chose two charities to deliver the following initiatives. 'The Sir Simon Milton Young Creators Programme, which is being delivered by London Youth. This programme will bring arts and culture into Westminster's youth clubs providing activities from painting and design to dance & performance. It has given a substantial number of young people the chance to discover new talents, express themselves and build confidence. 'The Sir Simon Milton Bursaries, initiative is being delivered by the Brilliant Club in conjunction with their Join The Dots initiative which supports disadvantaged young people going to universiry. Our Bursaries initiative will see 50 students each receiving £1,000. While we are focused on these new major initiatives we have continued to support modestly limited number of smaller initiatives including bursaries at Gonville & Caius College Cambridge, two scholarships to students from Westminster and continued our supporc with grant to 'Real Action,, a literacy chariry working with children and adults in norch Westminster. We also had another successful year supporting two key initiatives for older people in the City of Westminster. 800 Christmas hampers were delivered to the most lonely and isolated residents of the City and our annual Tea Dance welcomed over 1,000 older people to an afternoon of dancing and entertainmen( including a dance medley from the Sylvia Young Theatre School, and music from the Red Stripe Band. We were also joined by our guest of honour, Christopher Biggins, who delighted those in 2ttendance. The Board are grateful to our Trustee, Robert Davis MBE DL who lead on these important 2Ctivities. On board trustee matters we extend our thanks to Lisa Milton, Sir Simon's 515ter, who retired this year having been a trustee since the formation of the charity in 2012. In terms of our operations, we have also made further progre55 in reducing our administrative costs, through the support of The Trust Parcnership who have now been in position for a full year. I would like to thank all our sponsors and supporters which allow us to continue our activity and our board members for their work this year. We look forward to another exciting year in 2026 in building on our strategy and delivering strong impact in our activities. David Shaw OBE Chairman THE SIR SIMON MILTON FOUNDATION TRUSTEES. ANNUAL REPORT 2025 Overview Introduction The Trustees present their Annu21 Report and Financial Statements of the Sir Simon Milton Foundation ("the Foundation") for the year ended 31" December 2025. The Trustees confirm that this Annual Report and the Finincial Statements comply with the current statutory requirements, the requirements of the Foundition's governing document 2nd the provisions of the Statement of Recommended Practice (SORP) Financial Reporting Standard (FRS) 102. History of The Foundation The idea of creating a chLritable foundation arose in 2010 following the impact of the then new government's austerity programme on Westminster Council's provision of services to the young and elderly. It took a couple of years for councillors to bring this idea to fruition by which time Sir Simon Milton, the former pioneering leader of Westminster City Council, had unexpectedly died in April 201 l. It was decided to name the new charity in his memory and for the Foundation to have the principal aim of continuing to deliver Simon's vision of a caring city that offers opportunity for all. Since we were formed, we have raised over £5 million, enabling us to deliver a wide range of charitable programmes in Westminster and more widely, reducing loneline55 and social isolation among older resident5 and supporting young people from disadvantaged backgrounds in edvcation and craining. Public Benefit The Trustees confirm they have complied with the duty in section 17 of the Charitie5 Act 2011 to have due regard to the public benefit guidance published by the Charity Commission, including the guidance 'Public benefiL running a charity, (PB2). THE SIR SIMON MILTON FOUNDATION TRUSTEES, ANNUAL REPORT 2025 Structure, Governance and Management Constitution The Foundation was originally created by a Trust Deed dated 13 Jun 2012 as an unincorporated charity, regulated by the Charity Commission of England and Wale5. On 29 Aug 2017 the Foundation was registered as a charitable incorporated orginisation (CIO Charity Registered Number 1174405) with Simplified Objects to permit the expansion of its haritable activitie5 to a wider geographical area. The CIO took on responsibility for all the asseLs and liabilities of the unincorporated charity on l Jan 2018. Governance On establishment of the CIO in August 2017 all the existing Trustees of the former unincorporated charity were re-appointed as Trustees of the CIO for a term of five years. As Founding Trustees and relatives of Sir Simon Milton, Robert Davis (civil parcner) and Lisa Milton (sister). were appointed as Trustees for life. The governing document states there must be at least four Trustees. There are currently seven. During 2025 Lisa Milton stepped down as Trustee and the Trustees acl(nowledged their gr2titude for all her support over the years. Recruitment and appointment of new Trustees When recruiting new Trustees, the Board considers relevant skills gaps or required experience according to its activities and will seek to recruit to fulfil any gips. The recruitment of Tru5tee5 is also undertaken in accordance with the governing documen( Charity Commission guidance. New Trustees are given an induction pack which includes the Foundation's constitution, the most recent Trustees, Annual Report and Financial Statements, Minutes of Board meetings, charitable programme infomiation and Charity Commission guidance. Meetings Trustees convene three times a year for Ordinary Meetings. There is also an Audit & Governance Committee which meets twice a year. All Trustees are responsible to the plenary Trustee meetings, and all actions and decisions on the Foundation's activities are subjecc to report, resolution and recording in the Foundation's meeting minutes. Trustees are actively involved in the decision making of grant awards and have a keen involvement in the oversight of the current grant parcnerships and annual key events deliveredlsupported by the Foundation. No staff 2re employed, and no honoraria is paid. Clerking support is received from The Trust Partnership. finance management and accounting services by Trust Accounting. THE SIR SIMON MILTON FOUNDATION TRUSTEES. ANNUAL REPORT 2025 OBJECTS AND ACTIVITIES The Foundation's Objects as set out in its governing document are: To promote social inclusion for the public benefit by relieving the needs of people, including older people, particularly but not exclusively in the City of Westminster, who are excluded from society or parts of society, as 2 result of financial hardship, loneliness, sickness and poor health. To act as a resource for young people living in the boroughs of Greater London, in particular in the City of Westminster, by providing advice 2nd assistance and organising programmes of physical, educationil and other activities as a means of: Advancing in life and helping young people by developing their skills, c2p2Cities and cap2bilities to en2ble them to partiCiP2te in society as independen( mature and responsible individuals, including preparing them for entry to any occupation, trade or profession. Advancing education. Relieving unemploymenL Providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth. age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons. Our Vision Is to continue Sir Simon Milton's vision of a society in which communities care, the young aspire and older people thrive. Our Mission Is to provide opportunities in education and training for the young and for older people to feel valued for their contribution to their communities. Our Values That we seek to live by are.. Ambitious, Innovative, Passionate, Collaborative, Effective and Efficient. THE SIR SIMON MILTON FOUNDATION TRUSTEES. ANNUAL REPORT 2025 The Foundation delivers to its objects through: l. Provlslon of grant& bursorles andlor scholarshlps to charitable organisations and individuals to develop skills, capacities and capLbilities of disadvantaged young people. During 2025 the Foundation moved forward with its new strategy and investing in and working alongside a smaller number of key partner charities to deliver its aims. Following a thorough review and selection process, the Trustees of the Foundation identified and agreed to new exciting parcnership5 Wlth London Youth and the Brilliant Club. Over the next five years a significant investment of £800,000 will be made to the two charities in order to maximise impact and make a lasting impact on disadvantaged young people. Each partnership has clear objectives that will supporc increased confidence, skills development and improved opportunities for disadvantaged young people. In addition to the above, the Foundation also continued to honor the existing commitments through the bursary and scholarship programmes which have been running for many years. 2. Supporting and delivering key events to older people who are experiencingfinanci21 hardship, loneliness, sickness, and poor health. The Foundation has been delivering a highly successful community event for elderly residents of Westminster, which has gone from strength to strength over the 17 years it has been running. It has become a key event during the festive seison which brings delight, ¢ompanionship> community spirit and fun to those who attend, and the Foundation is Committed to providing this in future years. Similarly with the ongoing financial challenges that continue for older people, the Christma5 hamper project brings festive cheer to over 800 Wescmin5ter residents and joy over the Christmas period. Volunteers The Foundation mainly uses volunteers to support the delivery of the key events which take place annually in December and are grateful for the continued support of the 'Westminster Connects, volunteer service who helped them deliver the Sir Simon Milton Foundation Tea Dance and the Christmas hampers projett. THE SIR SIMON MILTON FOUNDATION TRUSTEES. ANNUAL REPORT 2025 The future The Trustees work closely with their beneficiaries and continually monitor and evaluate the activities to ensure they are delivering maximum impact with the funding they distribute. The Foundation is now on an evolved strategic pathway with its grant-making and is looking forward to building on its success to date through the following.. ( l) Working in parcnership with two new key partner charities, London Youth and the Brilliant Club. These partnerships will exist until 2029130. (2) Continuing to support Student5 from low-income families at Gonville & Caius College, Cambridge through the Sir Simon Milton Bursary scheme. (3) Fulfilling existing scholarship. bursary and grant commitments. (4) The Sir Simon Milton Tea Dance in December. (5) Supporting Christmas hamper programme in December. Funds are sPec(Ically raised in support of the Sir Simon Milton Tea Dance and Christmos hampers Progromme. Other fundraising continues on an opportunity bos1S. THE SIR SIMON MILTON FOUNDATION TRUSTEES. ANNUAL REPORT 2025 ACHIEVEMENTS & PERFORMANCE 2025 Our achievements in our core 2Ctivities during 2025 directly 2nd positively supported over 2,000 people through the following: Continuance of our bursaries & scholarship programmes. Our bursary and scholarship programmes have been central to our activitie5 over a number of years, with a focus on supporcing young people who are financially disadvantaged to continue their education and improve their long-trrm fvture opportunities. In 2025 we h2ve: continued to support two students from low-income backgrounds at university with Sir Simon Milton Scholarships. This included grants to the Universities of Warwick and Loughborough. Both students are in the fin21 year of their three-year scholarship. continued our £10,000 bursary support to the Gonville & Caius College. Cambridge Simon Milton's alma mater, where we are helping three students with living costs so that they can study and achieve their potential. We have 34 Scholarship alumni now making their way in the world. Supporting improved literacy for young people Our partnership with the charity Real Action, began in 2023 as part of a three-year pledge, to improve literacy in the greater London area. During 2025 we released the third year offunding of £10,000{£30,000 h2s now been given across three years in support of their Butterfiy Education Resurrection progr2mme, which takes place on Saturday mornings at the Mozart Street and Venture Community Centre. Our funding has played 2 Vit31 role in enabling the charity to provide free reading classes to over 100 hildren from disadvantaged backgrounds and low-income households. Overall, supporting those children most in need of academic support to thrive. Launch of two new major charity partnerships As per the strategy review at the end of 2024, in 2025 we identified 2nd12unched two new large grant partnerships with London Youth and the Brilliant Club. Trustees agreed to 2 multi-year strategic partnership totalling £400.000 over five years for each charity. {£800.000 in total)- London Youth partnership- through this partnership more young Londoners over the next five years will have the chance to explore, engage with, and enjoy the creative arts through the Sir Simon Milton Foundation Young Creators Programme in the City of Westminster until 2030. The Young Creators Programme 15 offering over 600 young Londoners the opportunity to try their THE SIR SIMON MILTON FOUNDATION TRUSTEES. ANNUAL REPORT 2025 hand it new art forms through tastrr days, undertake creative irts projects alongside professional arti5t5 and gain insight into creative careers through unique industry experiences. The Young Creators Programme is already delivering clear and tangible results, whilst still only in its first year with significant improvements in confidence, life skills development and improved relationships being evidenced. "London Youth is absolutely delighted to hove secured this generous funding from The Sir Simon Milton Foundation. It enables our member organisations in Westminster to confidentty run a range of enriching creotive activities that meet the needs of young People which are rree. localty delivered, ond inclusive. "London'5 children and young People matter. We believe their voice matters and they deserve every chance to make the most of their lives. Young Creat0￿ Provides them with o fontastic opportuniiy to learn new skills, follow their Passions, ond explore rheir idenitty ond communitses. Pauline Daniyan. Chief Executive of London Youth Brilliant Club partnership - this partnership is supporting two key activities over the next five years including.." supporting 50 students per year from Westminster to participate in the 'Join the Dots, programme, which is a university transition programme designed to support students facing the greatest challenges in making a successful transition to university. It is targeted at students who are most likely to face barriers in making a successful trdn51tion to university, 2nd who are at risk of missing out on the life-changing opportunities that come from successfully earning a degree from a competitive university. supporting 50 students per year with a £ 1,000 Sir Simon Milton Bursory. This bursary will be p2rticu12rly impactful for students attending university in Westminster, who face the additional financial pressure of living and studying in one of the most expensive areas of the country. Less advantaged students are increasingly working alongside their Studies to make ends meet. To put the supporc into context, a bursary of £ 1,000 could save an 18-year- old student 116 hours of work on minimum wage. "It is a real Pleasure to be working alongside the Sir Simon Milton Foundation to deliver real change for students ot univetsity in Westminster. The combinotion of the Join the Dots Pmgromme <7nd the bursory wffll support strong tronsitions to undergroduate lrfe. both aco¢Jmicolty ond Postorolly. We look forword to following the students, journeys over ihe next five years." Brilliant Club THE SIR SIMON MILTON FOUNDATION TRUSTEES. ANNUAL REPORT 2025 Supporting elderly people in Westminster We continued our flagship activities to combat loneliness and vulnerability to elderly residents in Westminster with: Sir Simon Milton Foundation Tea Dance On Sunday 7th December 2025, more than 1,000 Westminster residents aged 65 and over enjoyed a glorious afternoon of live music and entertainment at the annual Tea Dance. Now in its 17th year, the chariry event has become a calendar highlight for many older residents ofwestminster and their carers who look forward to the special festive event held in the magnificent Great Room at the Grosvenor House Hotel on Park Lane. Guests were entertained by music from Tea Dance regulars, the Red Stripe Band. student5 from the Sylvia Young Theatre School, and profe55ional ballroom dancer5. Christopher Biggins was the afternoon's special guest. This event is kindly sponsored by Shaftesbury Capital Plc, Hippodrome Casino, Bob Wilson Funfairs and supported by Westminster City Council and Grosvenor House hotel, in addition to individual donors. "Thank you so much for this event for all of our community" "We both had an amazing Dme Ilnd enjoyed our whole doy.. this is especialty important for me os I don't often get the opportunity to get out of my own community or even go out" "A very special event and much appreciated, I feel Proud to live in Westminster." "Great for everyone, thank you to everyone who makes it Possible, it brings a lot ofioy to mony People." "Wonderful event to attend. very well organised. The volunteer5 a￿ extremety helpful ond engaging. Very delicious afternoon. Mony thanks to the SSMF, Teom, volunteers, music and dancers which brought enjoyment to a wonderful afternoon, thank you." "l olwoys look forward to thts eveni it's the beginning of my Christmos celebrations. it's just amazing. THE SIR SIMON MILTON FOUNDATION TRUSTEES. ANNUAL REPORT 2025 Westminster Christmas Hampers We continued our support in partnership with Westminster Connects in delivering over 800 Christmas hampers to the most vulnerable older people in Westminster. Thank you to the London Heritage Quarter and Westminster Connects and its volunteers who helped make this possible and for all their support Each year we receive positive impact from those in receipt of a hamper and here are just 2 few examples of that feedback. l just wonted to thonk you oll for the lovety homper. The People that delivered ¢ were super cheerful and lffted my spirits no end. Not only were the contents of the hamper much )reciated. but it wos a reminder of my childhood when my father would come back from work tth his homper gift from his employers. It wos o speciol time. Pleose Poss on my thonks to oll involved. All good wishes for Chri5tmos" 'Thank you for organi5inz the hamper delivery, which w05 greatly app￿¢1(rted. The delivery team were lovely ond brought great cheer. Worm wishes for o healthy and happy 2026." 'Thank you for the Christmas greetings and grfls. This was unexpected and brought many 0Sltive emots"ons. We feel remembered ond supported. We wish you o happy Chri5tm05-Peoce, kindne55. ond love." Fundraising The primary source of income for the charity is interest on bank deposits of up to one- year trrms. With the available interest rates in 2025, this has produced a significant return on investment of £60k interest received and accrued interest (2024.. £77k). In addition, Trustees undertook targeted fundraising in support of the Sir Simon Milton Tea Dance and Christmas hamper project. Thi5 raised £42k (2024.. £42k) With the new operating model now in place, it will costthe Foundation on average £248k a year (2024.. £216k) to deliver its charitable programmes for the next five years. This is being supported by reserves. In 2026, the Trustees will be undertaking a fundraising strategy review to supplement existing and future commitments and developments. THE SIR SIMON MILTON FOUNDATION TRUSTEES. ANNUAL REPORT 2025 FINANCIAL REVIEW OF THE YEAR The Foundation's balance sheet remained relatively healthy during this tough financial year. The total income for the year was £102k (2024: £120k), of which £60k (2024: £77k) was interest earned on bank deposits. Restricted income for the period was £42k (2024: £42k) primarily for the Tea Dance and the Christmas Hampers. Total expenditure for the financial year was £248k (2024: £216k). Of this £207k (2024: £102k) was spent directly on ch2rit2ble programmes. governance and support costs were £41 k (2024: £114k)- Considering governance and support costs as overheads, a significant year on year reduction in overheads to roughly 16.5% (2024: 53%) can be seen in the Foundation's total expenditure. Transfers totilling £60k (2024: £155k) were made from Unrestricted funds as expenditure on Restricted funds exceeded the income. We have continued to draw on our reserves as there was an overall net expenditure at the end of the year of £146k (2024- £96k net expenditure). The total fund5 carried forward at the end of the year are £1.342m (2024.. £1.488m). Reserves The Reserves policy is reviewed annually by the Trustees. With reserves at the end of 2025 of £1.342m (2024: £1.488m), of which free reserves were £1.342m (2024: £1.488m), we remain a relatively well-funded small charity. The Trustees have decided to increase the use of the Foundation's reserves to achieve greater impact with our charitable programmes over the next five years. The Board of Tru5tee5 believe5 that the Foundation has sufficient reserve5 for current and future planned activities, taking into account the need to have- A cash reserve that 15 also the immediate cover required in the event of the need to close down the Foundation. The Trustees have agreed that the Foundation must maintain a cash reserve, invested in liquid assets. equivalent to six months, operational running costs and to cover contracts to which the Foundation is already committed. Taking into account contractual obligations. six months is estimated to be £174k (2024: £174k) in 2025 in line with the agreed 2025 budget. Sufficient funds to sustain the budgeted running costs for the foreseeable future (at least five years) in order to implement the Foundation's strategy and future planned activities. Annual expenditure is expected to be £358k (2024= £358k) in 2025 in line with the agreed 2025 budget. Remaining free re5erYes will be used to support new programmes for young people from low-income familie5 in Westminster in education and training. THE SIR SIMON MILTON FOUNDATION TRUSTEES. ANNUAL REPORT 2025 In considering the reserves requiremenE any amounts held a5 Restricted funds are not included except to the extent that they affect funding decisions involving Specific projects to which those Restritted funds relate. Risks Risk management is conducted in accordance with our Risk policy and through the Audit & Governance Committee on behalf of the Board. The Foundation has a comprehensive risk register which is reviewed and adjusted where necessary at each meeting during the year by the Committee 2nd the Board of Trustees. The principal risks identified are assessed under four categories (Governance, Financial, External, and Compliince), which are measured both by their likelihood of occurring and by their potential impact on the Foundation. Mitigation plans are then put in place THE SIR SIMON MILTON FOUNDATION STATEMENT OF THE TRUSTEES. RESPONSIBILITIES The Trustees are responsible for preparing the Trustees, Annu21 Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The12w applicable to charities in England 2nd Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Foundation and of the incoming resources and application of resources of the Foundxtion for that year. In preparing these Financial St2tements, the Trustees are required to: Select suitable accounting policies and then apply them consistently., Observe the methods and principles in the Charities SORP. Make judgments and estimates that are reasonable and pruden( State whether applicable accounting standards, comprising FRS 102, have been followed, subject to any material departures di5c105ed and explained in the Financial Statements; and Prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the Foundation will continue in business. The Trustees are responsible for keeping proper accounting record5 that disclose with reasonable accuracy at any time the financial position of the Foundation and enable them to ensure that the Financial Statements comply with the Charities Act 201 I, the Chariry (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integriry of the Foundation and financial information included on the Foundation's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. By order of the Board of Trustees Susan Hanlman Imay 1. 2026 12'50'13 CMT+11 Sue Hantman Hon Treasurer Date". 0110512026 SIR SIMON MILTON FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I report to the Trustees on my examination of the accounts of the Sir Simon Milton Foundation (the "Foundation") for the year ended 31" December 2025. Responsibilities and basis of report As the charity trustees of the Foundation, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Foundation's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5}(b) of the Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respecL l ) accounting records were not kept in respect of the Foundation as required by section 130 of the Act; or 2) the accounts do not accord with those records; or 3} the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement chat the accounts give a 'true and fair view, which is not a matter considered a5 part of an independent examination. I have no concerns and have come across no other matter5 in connection with the examination to which attention should be drawn in this reporc in order to enable a proper understanding of the accounts to be reached. oc Adam Fullerton, FCA DChA Independent Examiner For and on behalf of Moore Kingston Smith LLP Chartered Accountants th 6 Floor 9 Appold Street London EC2A 2AP Date.. 0110512026 SIR SIMON MILTON FOUNDATION FINANCIAL STATEMENTS FOR THE YEAR ENDING 31" DECEMBER 2025 STATEMENT OF FINANCIAL ACTIVITY FOR THE YEAR ENDING 31" DECEMBER 2025 Total lunds rotsl funds Restiicted ye¢irended 31 Dec 2024 Unrestricted tricted year ended UTrrextr? nds 31 Dec 2015 Note fiJnds £'ooo rooo roo IncorrlE Donat￿$ and Wcles Incotne from ch3ritable a(tiYrrie5 42 42 42 42 Inc￿￿￿ fi'om InvtstmtDts 77 77 TOTAL INCOME 41 102 78 41 12Q Expendlture xpenditure oneyear Net G•sh (used In) operatlnE actlvltes 16 1401 151 (205) (202) 29 SIR SIMON MILTON FOUNDATION FINANCIAL STATEMENTS FOR THE YEAR ENDING 31" DECEMBER 2025 16. Financial instruments At 31 Dec 2025 At 31 Dec 2024 £'ooo £'ooo Debtors 20 30 Cash at bank 1.332 {10) 1,342 1.474 (16) 1.488 Creditors (alling due within one year The Foundation has £1,332k of cash at bank (2024.. £1,474k). A minimum of £IOk is held in a current bank account to ensure liquidity of funds. The rest is held with Flagstone, an online plarform where funds are kept in a variety of bank deposit and term accounts to maximise interest earned while maintaining access for a proportion to meet cash flow requirements. The Foundation has £nil investment5 (2024.. £niO and £nil loans as at che year end 31 Dec 2025 (2024.. £niO. 17. Contingent assets and liabilities The Foundation has no contingent assets (2024.. £niO- The Foundation has contingent li2bilities relating to new p3rtnership awards made 2nd discussed in the Trustees Report (p l O) and detailed under the Education & Training heading in note 5. Total multi-year commitments were £669k as at 31 December 2025 and the awards are agreed and reviewed annually by Trustees as part of the five-ye2r partnerships with London Youth and Brilliant Club which began in 2025 (2024.- £nil) and are in line with che current Reserves policy. 18. Post Balance Sheet events There are no post ba12nce sheet events to report. 30