Charlty number. 1175425
Worshipful Company of Insurers Charitable Trust
Trustees. report and financial statements
For the year ended 30 September 2025

Worshipful Company of Insurorn Charltsbl• Trust
Contsnts
Page
Trustees. report
Independent Auditors, r•port
Statsm¢nt of flnanclal actlvltles
10
Balance sheet
Notss to tho ftnanclal statements
12-21

Worshipful Company of Insurnrs Charitable Trust
Truste￿. Report
The Trustees present their report together with the audited financial statements of The Worshipful Company of
Insurers Charrtabfe Trust (the Charity) for the year ended 30 September 2025. The finanu81 statements have
been prepared in accordance with the aC￿Unting policies set out in the notes to the accounts and comply wth
the Chanty's goveming document, the Charities Act 2011 and Accy)unting and Reporting by Charities.. Slalement
of Recommended Practice applicable to charities preparing their accounts in accordance with Ihe Financial
Reporting Standard applicable in the UK and Republic of IreEand (effective 1 January 2019}.
The Charity is a Charitable Incorporated Organisation (CIO) and was registered on 27 October 2017 {regislratson
number 1175425}. The sole member of the Charity is the Worshipful Company of Insurers (the Company)-
Confirmation of its charitable stslus was received from HMRC on 22 Febwary 2018. Its Trustees are
predominantly members of the Company.
On 31 March 2018 the 8ssets. liabilities and activities of the Worshipful Company of Insurers Charitable Trust
Fund (charity number 279959) and the Wotshipful Company of Insurers Second Charitable Tnjst Fund (charity
number 288397) were transferred lo the Charity and Ihe Trustees of these fomier charities became ils
Trustees. These ￿ charities were removed from the Charity Commtssion Register of Charities on 20 April
2018.
The merger did not result in the o>mingling of the fvnds held by the fonner charit￿S which Temain
ring-fenced and will be used solely for their original purposes, until such time as their reserves are exhausted.
The funds fOrn￿rfy held by the Worshipful Company of Insurers Charitable Trust Fund ar8 held in a restricted
fund. originally known as the 'Closed Education Fund, and now known simply as the 'Educalion Fund 1,. The
funds formerty held by the Worshipful Company of Insurers Second Charitable Trust Fund were originally held in
a resthcted fund known as the 'Closed General Fund, but Ihe funds are now exhausted and the Closed General
Fund has now been closed. The Charity a150 has an unrestricted fund with rTh)re flexible objects, originally known
as the 'OpBn Fund, and now known as Ihe 'General Fund,.
On 3 November 2023 the assets ofThe Education and Training Tnjst ofthe Chartered Insurance Institute IEAThI
(charity number 1021017) We￿ formally transferred to the WCI Charitable Trust. These are now managed as
Wcl assets. but a third lund has been ¢reated to ring fence these assets from the previous Education Fund (now
renamed Education Fund 11. The new assets are held in a fund called Education Fund 2 and wll be managed
wrth objects Klentical to Ihe fomer legal objects of the EA￿.
ectives
The objeds ofthe Charity are such charitable purposes as the Charity Trustees may, in their absolute discretson,
determine. including. but not limited to-
The advancement of educalion of the publi¢ in general in relation to insurance and to promote research
for the public benefit in all aspects of that subject and to publish the useful results,.
The advancement of the education for the public benefit of individuals practising or intending to practise
the business of insurance or any other recognised business or profession.
The relief of povety of current or former practitioners of the business of insurance or any other
recognised business or profession and their dependents. and in pafticular members of the Worshipful
Company of InsL*rers and their dependents- and
The provision of assistance and support for persons who are currently seNing or have served in the
arnied forces of the United lQngdom and their dependents, including Iwilhout limitation) by making
grants to charities established in whole or in part for that purp*)se and registered in any part of the United
Kingdom.
The principal objective of the Education Fund 1 is to provide grants solely for th8 advancement of insurance
education. support may be about insurance as a career andlor educating students in the terhnicalities of
Insurance as preparation for eniering th8 industy (subjecl to the First WCI Charitabte TNst deed).

Worshlplul Company of In$ur&rs Charltable Trust
Trustees. Report
When applying the resources of the Education Fund 1 Ihe Truslees seek to develop educational opportunities at
all levels for those seeking to practise within the Insuran￿ industy and the financial se1vi￿S market. While
making appropriate donations in accordance with Ihe charitable objects of the Charity. the Trustees actively
encourage members of the Company to parbcipate in projects tPot are the benefiuaries of fvnding, induding
takn'ng part in mentoring initiatives.
One of the Chanty's main beneficiaries of Education Fund 1 was Brokerage Citylink to which it made donations
totalling £50.000 during the year and confirmed further ¢ommthents of£50.000 payable in 2025126 and a fvrther
£50.000 payable in 2026127.
The prFncipal objective of the Education Fund 2 is to provlde grantsto advance education and training of persons
employed or engaged or desiring to be employed or engaged in insurance and allied occupations- and the
general public in relation to insurance and allied crcupations and their role in society and the economy (subject
to the First EATh charitable trust deed).
When applying the resources of Education Fund 2 the trustee will honour certain obligations already entered into
by the EATh, the main beneficiaries being Career Partnership Programs and University of Nottingham.
The principal object of the General Fund 1$ to provide grants and general donations for charitable purposes.
The Truste6s have regard to the Charity Commission's guidance Dn public benefit in setting the Charity's granl
making policies and its futu￿ plans. They regularly review their strategy for allocating the Charity's resources so
as to rellecl the interests and concems of the members of the Company while pursuing the Charity's objects.
Accordingly, the Trustees are salisffied Ihat Ihe grants that are made are within the Charity's objects and provide
public benefit. In some cases, they seek to ciksponsor activity in partnership with other bodies to maximise the
effectiveness of donations. Where substantl81 amounts are committed. they are generally of a longer-temi nature
to support continuty of the recipient's charitable activity.
Details of all grants can be found on pages 15 10 17.
Ivltl•s and P
During the period the Charity received donalions of £172.644 (2024: £3.218.8161, which included the fin
transfef of education assets from the fvnd of £21,105, and investment income of £178,63612024..
£96.735). Grants made 8nd committed and associated support costs together amounted to £550.65312024.'
£597,934).
After investment management charges of £3,751 12024- £6,988}, govemance ¢osts of£18.306 {2024- £17,155)
and net realised and unrealised gains on investments of £nil (2024.. £62.430). the Charity's reserves stood at
£3,976,199 (2024: £4.197.629).
Investment Review
The Charity holds cash in various fixed temi r2sh deposits in relation to Education Funds 1 and 2, on the Insignis
Platromi. Dunng the year the Trustees withdrew the assets from under management wth Cantab Asset
Management Limited (authorised and regulated by the FCA, registered number 4492691. During the financial
year ended 30 September 2025 a request for propos81 for fund managers was completed and Cazenove Capital
(authorised by the PRA and regulated by the FCA, registered number 144206) have been appointed. Assets
have been transferred across to Cazenove Captlal following the year end.
At the year end the market value of investments was £nil {2024'. £nil}, value in fixed temi deposits held foi over 3
months was £nil12024: £4.069,915> and under 3 months was £1.82512024.' £439,220).
The Trust is a Charitable Discrelionary Trust. The Trustees have the power to accumulate inGome and capital
and have discretion as to whom and how much is paid.

Worshipful Company of Insurers Charltabl? Trust
Trustses, Roport
ResaNe$ polley
At 30 September 2025 the Charity held total fuThJs of£3,976.19912024'. £4.197,629) ofwhich £3.941.577 {2024:
£4,151,593) were restricted and £34.622 (2025.. £46,036) were unrestricted. In the General Fund the Trustees
alm to meet CUTrent and committed expenditure from donation income, whilst maintaining an unrestricted
reserves tsrgel of approximately £40,000 at all times so that fvrture commitments can be met should donations
decline. It is the Trustees, intention to donate in the region of £200.000 each year from the restricted Education
Fund 1 for at least the next year and a further distribution in the region of £260.000 from restricted Educalion
Fund 2 in 2025126. The reserves of both restricted fijnds are reviewed annually by the Trustees.
Rlsk Managgmont
The Trustees have assessed the major risks to which the Charity is exposed in the light of current Charity
Commission guidance, this was updated following the transfer of assets from EAAT. The Charity's major risks
are financial and ￿pUtatIonal. In principle, market volatility or a fall in donations could each have an impact on
the Charity's ability to meel its grdnt commitments. In order to avoid this exposu￿, the Trustees do not make
SIgn￿l¢ant lon*term commitments that would leave the Charity exposed. The Fund's largest grants are made
from 115 Education Funds 1 and 2, whose assels are for the time being very significantly in excess of its
liabilities. Our smaller grant commilments. which are alrnost entirety made from the General Fund, a￿ strictly
mor¢itored to ensure that they will al all times be affordable in the light of expected donations to the Charity. The
Tnjstees are also aware of possible reputational risk arising from inappropriate behaviour by grant wipients-
damage as a result of grants being issued outside of charitable Objects or public poliw, and complaints as a
result of unclear application process andlor lack of visibility over grarit avaitability- Careful checks a￿ made in
relation to grant applicants before any grant is agreed and the use to which grdnts are pvt is carefully monitored
wrth a view lo minimising this risk. Other risks identffied ano addressed by the Trustees include the risk of a
successful cyber attack, conflicts of intsrest and the risk of a legal or regulatory breach.
tructure Governance & Mana
me
The Company is ￿SPOnSible for appointing new Truslees. Under Ihe Trust Deed the management arKI decislon
making of the Charty 15 the responsibilty of the Tfustees, who take note of views expressed from lime to time by
the Court oflhe Company on matters of wlicy. Given the size and nature ofthe Charity the Trustees consider the
level oftraining and induction for new Trustees to be appropriate. The Truslee5 provide new Twstees with a copy
of the Charity's constitution, Ihe most recent audtted finanaal statements and guidance booklet The essential
tnjstee (CC3) published by the Charity Commission.
The auditors. Kreston Reeves Audit LLP. have indicated their willingness to wntinue in offi￿. The designated
Tnjgtees will propose a motion reappointing the auditr)tE at a meeting of the Trustees. The audit registration of
Kr&slon Reeves LLP was transferred to Kreston Reeves Audtt LLP on 6th October 2025. Kreston Reeves Audf(
LLP were fortnally appointed as auditor to the charity on 6th October 2025.

Worshlpful Company of InsuTors Charltable Trust
Trusts&$' Report
Trusts9s
K Wade Chair
S Bramall
I Clark {Honorary Treasurer)
K Gray
L Hodgson (appointed 9 O¢tober 2024)
S M￿ann (appointed 9 October 2024)
H Pearson lappoinled on 16 September 2025)
S Ross
J Saggu (resigned 16 September 20251
S While {resigned 9 October 2024)
V Wilkinson {resigned 9 October 20241
Reference and admini$traliv• d•lail$ of tho Charlty and advlsors
Secretary to the Trustees
V King
Charity rogl$tored numbor (roglstered In England and Wales)
1175425
Ptln¢lpal offlce {reglstered office)
124 City Road
London
EC1V 2NX
Audltors
Kreston Reeves Audit LLP {appointed 6 October 20251
statutory Auditors
168 Shoreditch High Street
EI 6RA
Bankers
Charities Aid Foundation
25 Kings Hill Avenue
Kings Hill
West Malling
ME19 4TA
Investment Platlorm
Insignis Cash
8 Devonshire Square
London
EC2M 4AE
Fund Managers
Cazenove Capital
1 London Wall Place
London
EC2Y SAU

Worshlpful Company of Insurers Charflable Trust
Truslees. Roport
Truslees. Responsibllity Statfrmgnt
The TTUStees are responsible for preparing the Trustees, Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted A¢counling
Practice). The law applicable to charitses in England and Wales requires the Trustees to prepare financial
statements for each financial year which give 8 true and fair view of the state of affairs of the Chanty and of the
Incoming resources and application of resources of the Charity for Ihat period. In preparing these financral
ststements, the Trustees are required to:
select suitable accounting policies and apply them ￿nSIsten￿y'
observe the methods and principles in the Charities SORP.
make judgements and eslimates that are reasonable and pwdent,.
stale whether applicable Unrted Kingdom accounting standards are followed. subject to 8ny materTral
departures disclosed and explained in the financial statements- and
prepare the financial statements on a going concern basis unless it is inappropriate to presume that the
Charity will continue in operation.
The Trustees are resFX)nsib5e for keeping proper accounling records that disdose with reasonable accuracy 81
any time the financial position of the Charity and enable them to ensure thal the ffnancial statemenls ¢omply with
the Charities Act 2011 and the provisions of the Trust Deed. They are also responsible for safeguarding the
assets of the Charity and hence for taking reasonable steps for Ihe prevention and detedion of fraud and other
Irregularities.
This report was approved by the Trustees on IO
and signed on Iheir behalf by:
(Lih oei
K Wade. Chalr

Worshiplul Company of Insurers Charltable Ttust
Independent Auditors, R•port
Oplnlon
We have audited the financial statements of The Worshipfttl Company of Insurers Charitable Trust Fund Ilhe
'chariV} for the yearended 30 September 2025 which rx)mwise the Statement of financial aclivtties. the Balance
sheet and the related notes, induding a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and Unrted lQ'ngdom A¢¢ounting
Stsndards, including Financial Reporbng Standard 102 The Financial Reporting Standard applicable in the UK
and Republic of Ireland, (United Kingdom Generally A(Lepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the state of the charity's affairs as al 30 September 2025 and of its incoming
resources and appliGalion of resources for the year Ihen ended"
have been properly prepared in accordance with Unite¢J Kingdom Generally Accepted Accounting
Practice,. and
have been prepared in accordance with the requirements ofthe Charities Act 2011.
Basi$ for opinion
We conducted our audit in accordance with Intemational Stsndards on Auditing (UK) {ISAs (UK)) and applicable
law. Our responsibiifEies under those stsndards are fvrther described in the Auditors, responsibilities for the audit
of the financial statements section of rAJr report. We are independenl of the charty in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the Untted Kingdom. including tho
Financial Reporting Council's Ethical Standard, and we have fijlfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit eviden￿ we have obtsined is sufficient and
appropriate to provide a basis for our opinion.
Concluslons relatlng to golng ¢oncern
In auditing the financial $tstements. we have concluded that the Truste6s' use of the going concern basis of
accounting in the preparation of Ihe financial statements is appropriate.
Based on the work we have perfomed. we have not identified any material uncertainties relating to events or
conditions that. individually or collectively, may cast significant doubt on the charivs ability to conlinue as a
going concem for a period ofat least ￿e1ve mor¢ths from when the financial ststements are authorised for issue.
Our responsibilities and the responsibilities of th8 Trust8es wtth re5peGt to going concern are described in the
relevant secbons of this report.
Other Informatlon
The other information comprises the infom18tion included in the Annual Report other Ihan the financial
slalemenls and our Auditors, Report thereon. The Truslees are responsible for the other infomation contained
wrthin the Annual Report. Our opinion on the financial statements does not cover the other information and.
except to the exter¢t otherwise explictlly stated in our ￿ port, we do not express any form of assurance conclusion
thereon. Our responsibility is to read the other information and. in doing so, consider whether the other
infomialion is materially inconsistent with the financial statements or our knowledge obtained in the course ofth8
audit, OT Otherwise appears to be materially misstated. If we idenbfy such material inconsistencies or apparent
material misstatements. we are required to detemiine whelher this gives rise to a material misstatement in the
financial statements themselves. If, based on the work we have performed, we r£)nclude that there is 8 material
misslatemenl of this other infomiation, we are ￿qUired to report that fad.
We have nothing to report in this regard.

Worshlpful Company of Insurers Charltable Trust
Independent Audltors, Roport
Matters on whlch we are requlrod to report by eX￿ptIOn
We have nothing lo report in respect of the following matters where the Char6ties {ACc￿nts and Rep)rtsl
Regulation$ 2008 requires us to report to you if. in our opinion..
the information given in the Trustses, Report is inconsÉstent in any material respect with the financial
statements,. or
sufficient accountillg records have not been kepl" or
the financial statements are nol in agreement with the accounting records and retums,. or
we have not ￿CeIVed all the information and explanations we require for our audit.
Responslbllltles of trustees
As explained more fully in the Trustees. responsibilities $tatemenl. the Trustees are responsible for the
preparation of the financial statements which gwe a tnje and fair view. and for such internal control as the
Trustees determine is necessary to enable the preparation of ffinanrial statements that are free from material
misstatement. whether due to fraud or error.
In preparing the financial statements. the Tnjstees are responsible for assessing the charity's ability to continue
as a going concem. disclosing, 8s applicable. matter5 related to going concem and using the going concern
basis of accounting unless the Trustees either intend to liquidate the charlty or to (*ase operations. or have no
realistic alternative but to do so.
Audltors. responslbllltles for the audtt of the flnanclal statem•nts
We have been appointed as auditor under seclton 145 of the Charities Act 2011 and report in accordance wtth
the Act and relevant regulations made or having effect thereunder.
Our objectives are to d)tsin reasonable 8SSLFrance about whether the financial statements as a whole are free
from material misstatement. whelher due to fraud or e￿Or. and to issue an Auditors. Report that includes our
opinKin. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance wtlh ISAS (UK} will 8￿yS delect a material misstatement when it exisls. Misstatements can arise
from fraud or efror and are considered material if. individually or in the aggregate, they could reasonably b8
expected to inffuence the economic decisions of users taken on th8 basis of these financlal stslements.
Irregularities, including fraud. are instanc£s of non-compliance with laws and regulalion5. We design procedures
in line with our responsibilities. outlined abDve. to detect material misstatements in respect of irreguSartties,
including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud 1$
detailed below:
Capabilityof the audit in delactsng inBgularities, induding fraud
Based on our understsnding of the charity and the sector as a whole, and through disuJssion with the Trustees
and other management (as required by auditing standards). we ideniif*d that the prin￿paI risks of
non-compliance with laws and regulations ￿lated to anti-bribery and employment law. We considered the extenl
to which non-compliance might have a material effect on the financial sL8tements. We also considered those
laws and regulations that have a direct impact on the preparation of the finana81 statements such as the
Charitigs SORP (FRS 102} Se￿lMI Edition (released October 2019), and other relevant charity legislation. We
ommunicated identified laws and regulations throughout our team and remained alert to any indications of
non-complian￿ throughout the audtt. We evaluated Trustees. and management's incentives and opportunities
frx fraudulent maniputation of the financial ststements (induding Ihe risk of override of controls) and determined
that the prinGipal risks related to posting inappropriatejoumal entries lo increase ￿VenUe or reduce expenditure.
Audit procedufts perfonned by the engagement team induded..

Worshlpful Company of Insurers Charltablg Trust
Indopendgnt Auditors. R•port
Discussions with management and assessmenl of known or suspected instances of non-compliance
with laws and regulations and fraud" and
Review of c8sh expendrture lo confimi evidence of personal benefit; and
Confirmat￿n of related parties with management, and review of transactions throughout the period to
identify any previously undisclosed trans8ctions wth related parties ￿tsIde the nomal course of
business., and
Reading minutes of meetings of those Charged with g0veman￿. and reviewing correspondence with
relevant tax and regulatory authorities; and
Identifying and testing journal entries, in particularany manual entries made at the year end for financial
statement preparalion.
Because of the inhernnt limitations of an audit, the￿ is a risk that we wll not detect all irregularities, induding
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or ￿gulatIOn is renY)ved from the events and transaction5
reflected in the finar¢cial statements, as we will be less likely to become aware of instsnces of non-compliance.
As part of an audit in accordance Y￿th ISAS {UK), we exercise professional judgment and maintain professional
scepti¢ism throughout the audit. We also:
Identify and assess the risks of material misstatement of the financial statements. whether due to fraud or
error, design and perfom) audit procedures responsive to Ihosg risks, and obtsin audit eviden￿ Ih8t is
sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a malerial
misstatement resulting from fraud is higher than for one resutting from error. as fraud may involve
collusion, forgery. intentional omissions, misrepresentats"ons, or the ovwtde of intemal control.
Obtain an understanding of intemal control relevant to the audrt in order to design audit procedures that
are appropriate in Ihe ¢ircumstan¢es. but not f￿the purpose ofexpressing an opiniorb of the effectiveness
of the charitys intemal (x)ntrol.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disdosures made by the Trustees.
Condude on the appropriateness of the Trustees. use of the going concem baw$ of accounting and.
based on the audit evidence obtained, whether a material uncertainty exists related lo events or conditions
that may cast signrficant doubt on the chartys ability to continue as a going concern. If we condude that a
material uncertainty exists. we are required to draw attention in our Auditors, report to the related
disclosures in the financial ststements or. if such disdosures are inadequate, to modify our opinion. Our
condusions are based on the audit 8vKlence obtained up lo the dale of our Auditors, report. However,
fLrture events or wndition$ may rAuse the charity to cease lo continue as a going ￿)n￿m.
Evaluate the overall presentatlon, stsuclure and ￿ntent of the financial statements, indudlng the
disclosures, and whelher the financial statements represent the underfying transactions and events in a
manner that achieves fair presentation.
We communicate with those charged with govemance regarding, among other matters. the planned scope and
timing of the audit and significant audit findings. including any significant deficiencies in intemal control that we
identify during our audiL

Worshlpful Company of Insurers Charitable Trust
Independent Auditors. Report
Use of our report
This report is made solely to the charivs trustees. as a body, in accordance with Part 4 of the Ch8rities
(A¢counts and Reports) Regulations 2008. Our audit work has been undertaken so that we might sLite to Ihe
charity's trustees those matters we are required to state to them in an Auditors. report and for no other purpose.
To the fullest ex1ent permitted by law. we do not accept or assume responsibilrty to anyone other than the Charity
and its trustees, as a body. for our audit work. for this report, or for the opinions we have formed.
Kreston Reeves Audlt LLP
Slalutory Auditor
London
Dale- 25 March 2026

Thg Worshlplul Company of Insurors Charltable Twst
Stat?ment of flnanclal a¢tlvitles
For the yoar ended 30 Septembor 2025
Nots Unrestricted Restricted
Gon&ral Fund Educatlon
Fund I
Restri¢t
Education
Fund2
Totsl
Fund$
2025
Total
F￿ndS
2024
Ineom& From:
DonatK)ns 8nd18ga(a88
145.039
6.5
21,105
172,644
3,218,816
Investments
54,972
122,672
178.636
,735
Total income
14Q031
61.472
143,7TI
351.280
3.314551
Expenditure on
ralslng funds
Investment
1.114
3,751
6.988
anagemenl chargPS
Expenditure on
charltable aciivities
Grdnts
141.315
178.884
200,454
520,653
Support costs
10,tYJO
10.CKJO
10.OCX)
30,WO
Govemance costs
6.102
6,102
6,102
18,306
17,155
Total expenditure
157145
196.100
219.165
5T2.710
622.077
N¢t gains on
invoslments
Net expgnditurn
{11A14) (134.628)
(75.3881
1221.430)
2,755.904
Total fvnds brought
forward
46.036 1.305,512
2,848.081
4.197.629
1.441.725
Totsl funds at 30
September 2025
13
34,622 1.170,884
2.770.693
3,976,199
4,197.629
The statement of financial activities included all gains and10sses recogni$ed in the year.
The notes on pages 12 to 21 form part of these financial ststemants.
io

Th• Worshlpful Company of Insurers Charltablo Trust
Batanco $hoOt as at 30 Septembor 2025
Nots
Unr•strlct•d
G•n•ral Fund
Restricted Restricted
Education Education
Fund 1
Fund2
Total
Total Funds
2024
Fund$
2025
Fixed As$ots
Investments
4.069915
Current assets
Debtors
102.216
3.281
110,297
138.671
Cash at bank and on
66,579
1.281.341
2.975.353
4.323,273
439.220
deposit
71,379
1.383.5SI 2,978,634 4433.570
577.891
Credit¢rn: amounts
(36.7571
(162,673) {207.9411 (407.371)
{400,1771
falling within one year
Net current assets
1.220.884 2.rn1,893 4026.199
177.714
Debtors". amunts falllng
due after one year
10
1441)0
14,400
14AOO
CredIt￿$.. amounts falling
due afterone y&ar
12
(64,4001
164,400)
164JOO)
Ttsial ￿8•￿1¢88 Ilabllltse8
1.170.884 2.m.693 3.976.199
4,197,629
Funds
Genw81 Fun(J
13
46.036
Education Fun(11
13
1.170.884
1.170.884
1A05.512
Education FurKI 2
13
2,770,693 2.770.693
2A46.081
Totsl Funds
1.170.884 2.rio.693 3.976.199
4.197.629
The financial ststements were approved by the Tnjstees on 10
and signed on their behall by-
K Wade
Chalr
I Clark
TrusteelHonordry Treasurer
The notes on pages 12 to 21 form part of these financial slalemenls
li

Worshlpful Company of In$ur•rs Charltabl• Trust
N¢)las to Iho financlal statements
1. A¢countlng pollcles
1.1 Basis of preparation and ass&s$m•nt of golng concem
The financial ststements have been prepared in accordance with the Charities SORP (FRS 102)
Accounting and Reporting by Charilies: Statemer¢t of Recommended PTactice applicable to Charities
preparing their accounts in aeLordance with the Financial Rep)rting Standard applicable in the UK
and Republic of Ireland {FRS 102) (effective 1 January 2019). the Financial Reporting Stsndard
applicable in the UK and Republic of Ireland {FRS 1021 and the Charities Act 2011. The financial
statements have been prepared to give a ITue and faiv view and have departed from the Charities
(Accounts and ReForts) Regulalions 2008 only lo the extent reqUI￿d to provide a 'lrue and fairf view.
This departure has involved following the Charities SORP {FRS 102) published in October 2019
rather than the Accounting and Reporting by Charities.. Statement of Recommended Practi
effective from 1 April 2005 which has since been withdrawn. The Worshipful Company of Insurers
Charilable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are
inrtially recognised al historical cost or transaction value unless otherwise stated in the ￿levant
acLounting policy.
12 Golng concorn
The Trustees assess whether the use of going contsm is 8ppropri8te. i.e., whether there are any
material uncertainties related to events or conditions that may cast signfficant d05Jbt on the ability of
the Charity to continue as a going concern. The Trustees make this assessment in respect of a period
of at least one year from the dale of authorisalion for issue of the finanual statements and have
concluded that the Charity has adequate resources to continue in operational existence for the
foreseeable future and there are no material uncertainties about the Charivs abilty to continue as a
going cOn￿rn. thus they o)nlinue to adopt the going concern basis of accounling in preparing the
financial ststements.
1.3 Cash flow exemptlon
The Charity has taken advantage ofthe disclosure exemptvjn in the 'Amendments to Accounting and
Reporting by Charities: Statement of Recommended Practice Applicable to Charities Preparing their
A¢(x)unts in Accordance with the Finanaal Reportj'ng Standard applicable in the UK and Republic of
Ireland - Update Bulletin 1..
1.4 Income
Oon81ion income was recognised when the Charity had enlitlement to the funds. it was probable that
the income would re￿Ived, and the amount could be measured reliably and was not deferred.
Investment Income. induding Inte￿$[ was re¢ognised when received.
1.5 Fund accountlng
The Charitys unrestricted funds are available for use atthe discretion ofthe Tnjstees in furtherance of
the general objectives of the Charity and have not been designated for other purposes.
The Charity's restricted fijnds are to be used in acCOrda￿e with spec¢fic restiictions contsined in the
trust deeds of predecessor charbties from which they were transferred or imposed by donors. orwhich
have been raised by the charity for particular purposes. The cost of raising and administering such
funds are charged against the specific fund. The aim and use of each reslrlcted fund is set out in the
notes to the financial statsments.
12

Worshlpful Company of Insurors Charltable Tn￿t
Notss to thg financlal statsmonts
1.6 Expendlture and irvocoverable VAT
All expenditure was accounted for on an accfuals basis and was included under expense categories
that aggregated all costs for all￿tiOn to activities. Where costs could not be ￿1￿ctlY attributed to
particular activities, they were allocated on a basis consistent with the use of the ￿SOurCes.
Grants payable were charged in the year when the offer was made. except in those cases where the
offer was conditional. such grants being reccgnised as expenditure when the conditions attaching
were fulfilled. Grants offered subject to conditions which have not been met at the period end were
noted as a commitment, but nol accrued as expenditure.
Support costs were those costs Incurred directly in support of expenditure on the objects of the
Charity. Govemance cA)sts were those incurred in connection with administration of the Charity and
compliance with constitutional and ststutory requirements.
All resources expended were inclusive of irrecoverable VAT.
1.7 Investments
Investments were staled at market value at the balance sheet date. The Statement of Flnancial
Activities ir￿l￿deS the net gains and losses arising on revaluations and disposals throughout the
period.
1.8 Debtors
Trade and other debtors were ￿OgnISed at settlement amount due.
1.9 Cash at Bank and In hand
Cash at Bank and in hand includes cash and short terni highly liquid investments with varied rrraturity
dates ranging from immediate access to l year.
1.10 Credltors and provlslons
Creditors and provisions We￿ recogni$ed where the Charity had a presenl obligation results'ng from
past event that would probably result in the transfer of funds to a third paty and the amount due to
settle Ihe obligation would be measured or estimated reliably. Creditors and provisions were
recognised at their settlement amunt due.
1.11 Flnancial Instruments
The Charity only had finanual assets and Ilabilitles of a kind that qualfy as basic financial instruments.
Basic financial instruments are initially recognised at transaction value and subsequently measured
al their settlement value.
13

Worshlpful Company of Insurers Charltable Trust
Notes to the Ilnanclal slatements
2. Donatlons and legacles
Unrestrl¢tsd
G•noral Fund
Restrfct•d Restricted
Total
Edu¢atlon
Educallon Funds 2025
Fund 1
Fund 2
Totsl
Fund3
2024
Donations
145,039
21,105
172,644
3218.816
Tolal 2024
141,090
3.077. 726
3.218.816
3. Investment incom8
Unrestrlcted
General Fund
RestrIrt￿ Ro$trbctsd
Total
Educatlon
Edu¢atlon Funds 2025
Fund 1
Fund 2
Total
Funds
2024
Investment Income
992
54,9Y2
122,672
178,636
96,735
Total 2024
3,987
41.928
50.820
96. 735
14

Worshlpful Company of Insurers Charltable Trust
Notss to the flnaThclal statements
Grants made
Unrestrfcted
Goneral
Fund
Restrfcted
Educatlon
Fund 1
Restrfcted Total Funds
Educatlon
2025
Fund 2
T¢>tsl
Funds
2024
GeneralFund
Charity Partn•hs.. Gonarnl
Actson Tutoring
Blind in Business
5.000
5.000
5.0
5,000
Ckjthing Sol¢Jtions
FCV Dorcas
Go Kids Go
M8de in Hackney
Mudchute Park & Fam
Music In Ho8pit81s
St Pauls Mongy A(hice Centre (Crosslightl
Sl Mary Le Bow Young H(xngtoss
Succ4$s Club
The Money Charity
XLP
Charlty Parlnots.. Clty CMC
Barrow Fam) Flding School IM8sterfs Charity
2025}
Ironbridge Gorge Museum
Kent & Sharpshoolersyeomanry Association
ry Fwd Initiative
very S¢h(N)Is Link
Lord Mayorfs Appeal
Middlesex & North London 21 CompanyACF
Royal Navy Cadets VCC
Sheriffs, & Re￿r￿tr￿s Fund
Sheriffs Challènge
Skylarks IMasle¢s Charity 2024}
Sl Lawrence Jewry Church
Surbrton & Esher ￿"1 Cadet$
Alatch•d Fundlng
Alzheim8rf8 &xi8ty
Barrow Form Riding sch(￿
Cancer Resoarch
CoppaFeel
Lord Mayors Appeal
Kent A$s￿E9￿"0n forthe Blind
Onward and Upward8
Sheriff and Recorders Fund
s.000
4.000
4.000
3,￿0
10,0(X)
io,ooo
4,000
10.OCKJ
10,orJJ
10.000
10,000
5.000
S,￿)0
iO.C4X)
10.000
1,000
3.¢)00
3,000
125
I,OOD
3.000
3.000
125
10.000
5200
4.000
6250
175
1,000
3,000
12$
10.000
5.600
10.000
5.200
4.000
6.250
175
3,000
150
4,000
4.000
3,000
4.000
3,¢XJO
4.000
3.000
1,500
1.500
1,500
425
3.OCKJ
1WO
1.500
1,500
425
1000
1.50D
1,500
1,500
15

Worshlpful Company of Insurers Charltable Trust
Notss to Iho financlal statsmgnts
4. Grants mado (contlnued)
Unrgstrictsd
General Fund
Rostricted
Education
Fund 1
R¢strictod
Education
Fund 2
Total
Funds
2025
Total
Funds
2024
Ma¢¢hod Fundlng (witinu8dJ
St Giles Twsl
The Brain Turr¥)ur Charity
REACT Disastor cospons
Walking with th& Wounded
XO Bikes
1.500
1,500
553
1,500
1,140
1.140
Ad I￿￿ grants
Adult Literacy Trust
AFASIC
5.000
3,OC(S
2.5C
1,000
1,OCQ
3,0
2,5
3,0
Blooming Ajts
Build Up Foundation
Cirdan Sailing Trust
Cros5 Light
tknr Stèp Library
GAIN
Islington Centre
Listening B(￿kS
LLknI Village Nelwofk
Number Champions
Strength and SeamiwJ Ilwough horses
Skylark8
Spitz
SPLF
Success Club
SU￿￿ & Booted
The R98ding Ltst FoundBtion
rimebanking UK
Toucan EmployTrent
Tower Hamlet Mission
5,000
3,000
3,000
2.500
1.090
2.000
500
2.500
5.000
3.000
5,IXIO
3,IxIO
2,000
3,1100
2.500
Education Fund$
Edu¢atlon Fund I
Bayes Scholarships
Brokerage Ctyink
Cll priz&s
Cll regional projramme
IIL Priz&
Into Insurance programme
Mansion House Scholarship Sch8me
Maribme London Cadet Scholarship
Universty of Notbngham
Uweach
15,8CK)
50.000
2,3(Kl
15,648
500
57,8(M)
15,800
50.000 50,0
2.300
15.648
47.619
250
61.200
57.600
6.000
17,625
8.411
17.625
8.411
16

Worshipful Company of Insur•rs Charitable Trust
Notes to tho finan¢lal statsments
4. Grants mado (¢ontlnuod)
Unrestrlctod
General Fund
Restrictod
Educatlon
Fund 1
Restricted
Education
Fund 2
Total
Funds
2025
Totsl
Funds
2024
Education Fund 2
Career Partnership Program
Univerw of Noth"ngham
151.454
49.IX)O
151.454
49.000
211.047
43.500
T¢)tal Grants mad
141,315
178.884
200.454 520.653
552,934
Total 2024
5. Support costs
Unré$trict•d
Genoral Fund
R•strlctsd
Educalio
Fund 1
Restricted
Edu¢alion
Fund 2
Total
Funds
2025
Total
Funds
2024
Staff costs
Tot812024
10,000
15,000
10,000
75,000
10.000
t5,000
30.000
45,000
45.000
Stsff costs represent a recharge ofa propcftion ofthe staff costs ofthe Worshipful Company of Insurers. No key
management disclosures are required.
6. Governance costs
Unrostri¢tod
General Fund
Total
Funds
2025
Total
Funds
2024
Educatlon
Fund I
Education
Fund 2
Audilorfs remuneration
Administrative costs
Legal fees
5,000
1.102
5,1)00
1,102
5,000
1,102
15,000
3.306
9.060
5,601
2.494
17,155
6,102
6,473
6.102
4.904
6.102
6.588
18,306
17.155
Totsl 2024
7. TNsto• remuneratlon
During the year, no Trustees (2024: none) received any remuneration. benefits in ktnd or reimbursement of
expenses {2024.' £nil).
17

Worshlpful Company of Insur•rs Charftablo Trust
NotOS to the financlal statsments
8. Flxed asset Invo$tments
Cash
Idon
deposit
Llsted
60¢urltlos
Market value
Balan￿ brought forward
Additions
Disposals
Revaluations
At 30 Sgptember 2025
Cash awaiting investment
Total investments
4 069,915
4 069,915
Invastments at market value ¢omprlso:
2025
2024
Listed investments
Cash
4 069,915
4 069 915
2025
2024
Historical cost of listed investments
9. Debtors
2025
2024
Other debtors
Prepayments and acC￿ed income
4.800
105,497
110297
138671
10. Dobtors: Amounts falllng after one year
2025
2024
Prepayments and accrued income
14,400
11. Credltors: Amounts falllng due wlthln one year
2025
2024
Accruals
407.371
400.177
18

Worshipful Company of Insurer& Charitable Trust
Notss to the financlal statsmonts
12. Credltors: Amounts falling due after ono year
2025
2024
Accruals
64.400
13. Slatement of Funds
ststoment of lunds- current year
Brought
forward
Incomlng
resources
Resources
expended
Galns
Carrled
forward
Rgstrlct•d Funds
Education Fund 1
Education Fund 2
Total Restrlcted Funds
1,305.512
2.846.081
4,151.593
61.472
143.777
205,249
196.100
219,165
415,265
1,170.884
2.770.693
3.941,577
Unrestrlcted funds
General Fund
Total Funds
46,036
4.197.629
146.031
351,280
157.445
572,710
34,622
3,976,199
Statement of Funds- prlor year
Brought
Incomlng
fonvard resources
Resources
expended
Gains
Carrl
forward
RestTiCtod Fund$
Education Fund 1
Education Fund 2
Total Restrictsd Fund$
1,398.546
{5.323)
1,393.233
41.928
3.128,546
3,170,474
(197.392)
{277.142)
(474,534)
62.430
1,305,512
2.846.081
4,151,593
62A30
Unrestricted funds
General Fund
Total Funds
48.502
1,441,725
145,077
3,315.551
(147.5431
{622.07n
46,036
4,197,629
62,430
The incoming resources to the Edu¢alion Funds is investment income. Exp8ndrture from the Education fund l is
made for the following purposes..
The relief of poverty of members of the business of insurers or any other recognised business or
profession, those dependent upon them and in particular of members of the Company and their
dopendan19" and
The advancem8nt of 8ducation in any manner which is now or hereafter may be deemed by law to be
charitable of persons desiring to practice the business of insurance or any other recognised business or
profession or to be qualified for professional or adfflinislrats've posts in national. public or local authorities
and in commerce, industy and finance.
19

Worshlpful Company of Insurers Charltable Trust
N¢)tes to the flnanclal statements
13. Statement of Funds (contlnued)
The New Education fund 2 was established from the transfer of assets from The Education and Training Trust of
the Chartered Insurance Inslitule IEAThI. The objectives are identical lo the fo￿er 0￿.e¢l$ of EATh being..
Developing effective leaming solutions for persons employed or seeklng employment in insurance and
allied occupations. Activities comprise the provision of learning materials. associated tutor support and
face-to-face revision courses. primarily to those persons studying for the examinations of The Chartered
Insurance Instrtute.
Summary of funds- prlor year
Unrestrfcted
General Fund
Restrlcted
Educatlon
Fund 1
2024
Restrlded
Educatlon
Fund 2
2024
Total
Funds
2024
2024
Fixed asset investments
CuTrent assets
Current liabilities
Long term assets
Long tenn liabilities
1,234,098
253,894
(132.480)
14,400
2,835,816
267,832
1257.567)
4,069,915
577,891
(400.177)
14,400
56.166
(10.1301
46,036
1305 512
4 197,629
1& Related party transactions
The Worshipfvl Company of Insurers (the 'CompanYI appoints the Trustees of the Worshipful Company of
Insurers Charitsble Trust.
During the yearthe Company paKI staff u)sts totalling £30.00012024'. £45,(XIO), grants of £nil12024: £1.5001 and
administrabon costs of £2,400 {2024.' £2,400) on beh81f ofthe Charity. The Charity received £nil (2024.. £3.6001
on behalf of the Company.
During the year the Company also received donatior￿ in respect of the Charity of £1.1 $0 (2024.. £2.048).
Balanang repayments to the Company ofthe net amunts of£36.05012024'. £46.852) weie made by the Charity
during the year.
At 30 September 2025 £4,800 (2024: £4.800 due tol was due from the Company to the Charity.
The Charity received totsl donatlons of £3.180 {2024: £3.5501 from th8 Trustees.
15. Controlllng party
The Charty was und&r the contrrA ofthe Company.
16.
Conllngent Ilablllty- Educatlon Fund 2
During the year lo 30 September 2024 the Trust took over obligations entered into by EATh. Two grants are
conlingenl on certain parameters being met and applied for during each year to release the grants. The
agreements are in place to provide The Universty of Nottingham with up to £130.500 of funding and Career
Partnership Programme wrth up to £973.615 of funding when these conditions have been met. As at 30
September 2025 these commrtments were £87.000 and £611.114 ￿specttVeIy.
20

Worshlpful Company of Insurèrs Charltable Trust
Notes to the financial ststements
16.
Contlngent Ilablllty- Educallon Fund 1
Further obligations are contingent on certain parameters being mel and applied for during each year to release
the grants. There are new agreements in place to provide The University of Nottingham with up to £142,125 of
funding when these conditKJns have been met. As at 30 September 2025 this commilment was £124,500.
17.
Commltments- General Fund
During the year the Charity entered a review of its Charity Partners. The process resutted in 3 new partners Sl
Pauls Money Advice Centre (Crosslight). Su¢cess Club and the Money Charity, which would be given a grant of
£10.000 per annum for 3 years. As al the year end the Charity is committed for the first year, but no form81
agreements were in place.
21