The Quilter Foundation
(A Charitable Incorporated Organisation}
Annual Report and Financial Statements
for the year ended 31 December 2023
The Charlty Commission for England and Wales Registered Number.. 117555S
CONFIDENTIAL

The Quilter Foundation
Charity Registered Number.. 1175555
Contents
Pages
Reference and admlnlstrative Information
Trustees, report
Independeni auditors, report
Statewent of financlal actlvities
10
Balance sheet
Statement of cash flows
Notes to the financial statements
13-20
CONFIDENTIAL

The Qullter Foundation
Charity Reglstered Number.. 1175555
Reference and administrative informatlon
Trustees
Trustees who Served during the year and up to the date of this report
were as follows..
Steven Levin
Philippa Lucy Foster BacK CBE
Rlchard Breen
Timothy Edmund Michael Childe
Tosin lame5-Odukoya
Penny Cole
Stephen Charle5 Gazard
(Chairl
(Treasurer)
Registered office
Quilter plc
Senator House
85 Queen Victoria Street
London
EC4V 4A8
Member
Quilter Holdlngs Llmlted
Senator House
85 Queen Victoria Street
London
EC4V 4AB
Registered in England and Wales, Company Number.. 01606702
Banker
National Westminster Bank plc
135 Bishopsgate
London
EC2M 3UR
Solicitor
Womble Bond Dickin50n IUKI LLP
4 More London Rlverslde
London
SEI 2AU
Independent auditors
Pricewaterhousecoopers LLP
Chartered Accountants
Savannah House
3 Ocean Way
Southampton
S014 3TJ
Investment manager and custodian
LGT Wealth Management UK LLP
14 Cornhill
London
EC3V 3NR
Page 1
CONFIDENTIAL

The Quilter Foundation
Charity RÈgSs¢ered Number.. 1175555
Tru5tees' report for the year ended 31 December 2023
The Trustees present their report and audited financial statements for The Quilter Foundatlon I'the FoundBtion'l for the
year ended 31 December 2023.
The Trustees have adopted the provision5 of the Accounting and Reporting by Chèrities.. Statement of Recomrnended
Practice applicable to ch2rlties preparing the 1Snancial statements in accordance wilh the Financial Reporting siandard
applicèble in the UK and Republic of Ireland I'FRS 102,1 (effective 1 january 20191- I'charities SORP IFRS 1021,1 and the
Charities Act 2011 in preparing the report and financial statements of the Foundation.
These financlal staiements have been prepared on a going concern basis and in aciordance wlth the historical cost
conventlon as modified by the revaluation of investtnents to falr value.
Oble<tlves and Activitles
The Foundation's mission is to ernpower young people to fulfil their potential, thrive and pr05per.
The Foundation seeks to 3chieve its tnission prim3rily through grant maklng to carefully selected chBrity partners and 15
guided by three themes..
Education- enh2nclng financial educa￿0￿ and capability..
Employment- building ski115, experience and confidence to help young people work and earn,. and
Health and Wellbeing- enhancSllg hÈalth and wellbeing to help young people flourish and thrlvÈ.
The Foundation alms to fund high impact programmes which significantly Smprove outcomes for youllg people, and
applie5 a re5ponslble and rigorous process to its choice of charity partners to ensure that long-term sustainable
partTrer5hlps are created.
The Foundation aim5 to grow Its impact by working wlth partners who reflect it5 Strategy of providing support to empower
young people to fulfil thelr poteniial. thrive and prosper.
The Foundatlon does not provide fundlng to.. 11 organisations dlrectly affiliated to a political party, associated polltical
bodies or with a strong wider political association., 21 51ngle-f3ith religiou5 organi5atlons,' and 31 profit-making
organlsatlons.
The Trustees confirm that they have referred to the guidance contalned in the Charity Commi5sSon's general guidance on
public benefit when reviewing the Foundation's aims and oblectlves and in planning future activities and seeking grant
aking polScy for Ihe year.
Achlevements and Performance
arlt3ble Part
In 2023, the Foundation provlded the final in5talltnent of continuation funding for the Secure Futures Fund to charity
partners, School of Hard Knocks, sireet League and Safe New Futures, further supporting an addilional 188 young people
wlth barriers to work.
2023 saw the launch and onboarding of a now strategii p3rtner, The Brokerage. The Brokerage are a soclal mobility charity
that help to break down barrier5 to Èmployment to create a morÈ diverse workforce acr055 the UK. This new three-year
partnership will fund The 8rokerage's Pathways to the Ciiy programme., improving work related skills of talented 16-25 year
olds from working cla55 backgrounds, to enable Careers In financial and profe55ional related service5. In 2023 alone. 653
young people attended Outreach sessions and more than 200 attended a 8rokerage eveni preparing them for their future
aspirations.
Working together collaboratively, the key oblectlvos of the partnerships are..
To develop employability skllls. provide peer networks and mentoring, develop leadershlp skills and securelob
placements
Leverage further supporr from Quilter plc Ihereafter"Quilieff'l, through work experlence, job plaiements, and
sharing the apprentlceship levy
Page 2
.CONFIDENTIAL

The Q¢Jilter Foundation
Charlty Registered Number.. 1175555
Trustees, report for the year ended 31 December 2023 Icontinuedl
Achlevements and Performance Icontlnuedl
Focusing on enhancing financial education and capabiliiy. the Foundation contlnued to support the charity MyBnk. Grallt5
made 10 the charSty enabled Ihe Foulldalion to deliver financial education to 3,430 young people across 152 programmes.
Furthermore, the Foundation provides annual funding to The Centre for Financial Capability, an Industry collaboration with
MyBnk to give prlmary school children vital money skills and to carnpalgn 10 firmly place linanclal education on the prlmary
5choo1 curriculum.
The Foundation's Local Community Fund awarded a share of £119,490 to 14 nominated loc31 charities. The Fund continues
to support a range of cause5 1105e to the hearts and homes ol Qullter staff and advlsers. In 2023, the Fund dlrecily
supported 3,979 people.
Flnanclal Revlew
During the year, the Foundation recelved funds of £638,696 12022.. E594,3251. Thi5 Included corporate donations of
£431,25412022.' £419,989) and inve5trnent Income, including bank Inferesi of £207,44212022.' £174,346).
Expenditure during the year amounted to £447,62712022.' £1,052,782), which included accruals for grants payable during
the years 2023 and 2024 in relatlon to agreements whlch the Foundation ha5 in place wSth its charitable partners.
The expenditure tnaSnly consisted of grants for thÈ follovving organi5atlons'. MyBnk £nil12022.' £510,000),. Local Cornmunity
Fund £119,25512022'. £81,056),. The Brokerage £50,00012022.. £nill,' Crossroads Care Eni112022.' £20,000),. Safe New Futures
£24,47512022.. £24,476),. Streer League £36.558 12022.. £12,193).. School of Hard Knocks £37.08612022., £12,362),. Kickstart
Money £nil 12022: £20.0001,' Oasis Lordshlll £200 12022.. £10,000),. Vlvld Life £nil 12022.. £8,056),. Disasters Emergency
Committee £5,00012022.. £275,5501',TSlstock 5tydive £36012022.. £nlll', The London Marathon E78612022.. £nill,' The Grace
Crocker Foundaiion £58012022.. £nlll', Beresford Street £83312022.. £nill', and Thrivelersey Enil 12022.. £5,000).
During the year, payments were mado to the charitable partners as follows.. Carer5 Trust £nil12022.. £137,488),. MyBnk
£170,000 12022.. £170,000),. Safe New FLJtures £48,951 12022.. £26,337)., School of Hard Knocks £49,448 12022.. £24,724),.
Street League E48.750 12022.. £28,185)., Kick5tart Money £20,000 12022.. £20.0001,' The Brokerage £50,000 12022.. £nill,'
Dlsasters Emergen£y Commitree £49,760 12022.. £230,7901,' Local Community Fund El 19,490 12022.. £87,Q661,' Oasis
Lordshill £200 12022.. £10,000),. Tilstock Skydive £360 12022.. £nill,' The London Marathon £786 12022.. £nill,' The Grace
Crocker Foundation £58012022.. £nill,' and Bere5ford Street £83312022.. £nlll.
Total funds for the Foundation at the end of the year are £8,772,30812022.. £7,919,370).
The Foundation appolnts LGT Wealth ManagÈmont UK LLP I'LGT") as the Foundation's Investment manager.
As per the Trustee5 investment mandate, LGT'S objective is capital appreciation over the long-term and stable income for
grani making. As such, the Foundation's investments are primarily balanced across fixed income and equiries. The Trustee5
have taken account of relevant environrnental, social and governance considerations and as Such have Instructed LGT not
to directly invest In companles where principal buslness activitie5 ale: tobacco, armament5, pornography or animal testing.
The value of Investments managed by LGT as at 31 December 2023 w65 £8,944,751 12022., £8,249,048). The Trustee5 are
satisfied that overall Investment performance for the year is in line wlth the Foundat10￿,5 investment policy and stated long.
term investment objective5.
The level and frequency of Income from investments and the Foundation's prlmary donor, Quilter, 15 uncertain. The
Trusrees identify thi5 as the Foundation's principal rlsk, whlch could prevent it from delivering public ben@flt 2nd achieving
Its stated objectives over th@ long-term. The Trustees have set out to mltlgate this risk by establlshing an expendable
endowment managed by LGT and invested across a dwersified porifollo of sufficiently liquld asseis. The Trustee5 retaSn
discretion to expend some or all of the endowment fund should they choose In order to meet the FoundatiorF's charitablè
objectives, now or in the future. Furthermore, the Trustees have actively sought to IncrÈase and further diverslfy the
Foundatlon's income through fundralslng activity.
Pa8e 3
.CONFIDENTIAL

The Quilter Foundation
Charlty Registered Number.. 1175555
Trustees, report for the year ended 31 December 2023 Icontinuedl
Flnanclal Revlew IcontlnuEdl
ntinu
Llke many charlt3ble foundatlons, the c05t of living crlsi5 hag had implicatlons on the operatlons of the Foundation and Its
partners. Alongside the operational itnpacL the crisi5 has also evidently had a major impact on the communities the
Foundatlon seeks to Serve.
Therefore, the Foundation te3m ha5 malniained close dlalogue wlth Its funding partners to ensure It understand5 the ri5k5
presented to delivery arislng from the crisis, The Trustees ensure that all efforts are made to be an acilve and Supportive
partner throughout the ongoing impact thar the c05t of livlng crisis presents.
Reserves Policy
The Trustees wish to e5tabllsh a 5U5talnable financlal platform to enèble the Foundatlon to continue to deliver publlc
benefit and achieve it5 Stated objectives over the long-term.
As the level and frequency of financlal support from the Foundatlon's piirnary donor. Quilter, Ss uncertain, the Trustees
have sought to establish an expendable endowment fund to provide 5ufficlent future Incorne should there be an
unforeseen chongÈ in donations.
The expendable endowment con515ts of don3tlons from Quilter plc and other funders, along51de g31ns and 1055es arising
from the investrnent assets. The Trustees retain dlscretion to expend some or all of Ihe endowment should they choose in
order to 3chieve agreed charitable alms now or In the future.
The Trustees have agreed to seek to spend down annual Inve5tmeni returns and any donations from Quilter. its employees
or other sources, recogni5ing however that the Foundation'5 commitrnents are Ilkely to extend over multiple ye3rs.
The expendable endowmeni Investment5 are held In 5ufliclently liquld assets to enable th@ TrLSStee5 to meet comtnitments
made and to Subsequent￿ remove tnaterial uncertaillty that Ihe Foundatlon can contlnue to operate as a going concern.
This ensures that de5Plte the Foundation being in a net current liability position. Ilquld assets can be wlthdrawn from the
investments so that the Foundation 15 not restricted in meeiing its obllgaiions.
The ReseNe5 Poli￿ Is monitored regularly by the Trustees.
Structure, Governance and Management
onsiiru
ThÈ Quilter Foundation is a reglstered charity (Charity number 11755551 ￿th the Charity Commission for England and
Wales. incorporated 3 November 2017. The charity 15 managed by a Board of Trustee5.
The Foundation is a Charitable Iniorporated Organisatlon, governed by its a550ciation model constltution which Set out its
oblecis, powers and marter5 relating to its governance. The sole Mernber of the Foundation is Quilier Holdings Llmited la
subsidI2ry of Quilter plcl. If the Foundation is wound up, the Member shall have no liability to contribute to it5 assets and
o l@gal respon5Ibllity for 5ettllng Its debts and liabilitie5, and. as the Foundatlon is a charlty, the Member has no
entitlement to a share of the Foundation's a55ets. While the Foundation bears the Quilter trading name, it Is Independent
of the Qullter plc group and the Trustees perform their duties under thi5 gulding pririciple. In addition to the Trustee5 who
are a150 employees of Quilter, there are two fully independeniTru5tees whom sit on the Board of the Foundation.
rustees
The names of the Trustees of the Foundation are Ilsred in the Reference and Administrative Information on page 1. The
Trustees all held office throughout Ihe year unless otherwise shawn. The Foundation has Indemnified all Twstee5 In
respect of any Ilablllties properly Incurred in runnlng the Foundatlon.
The Foundatlon's sole Member, Quilter Holdings Limlted, may appolnt Trustees. WhÈn recruiting new Trustees, the
Trustees or Member las appropriatel glve regard to the knowledge, skllls and experience which are requlred for the robust
and effective rnanagement of the Foundarion.
Page 4
.CONFIDENTIAL

The Quilter Foundation
Charity Registered Number.. 1175555
Trustees, report for the year ended 31 December 2023 Icontinuedl
structure, Governance and Management Icontinuedl
Training 15 arranged for all Tru5tee5 and all Trustees must SlEn a Trustee declaration which states Ihat they understand
their duties as a Trusiee and have read the relevant conflict of Interest policles. The Trusiees are responslble for the
oversight and governance which includes approval of all grants made by the Foundation.
onisation
ruciure
The Trustees are responslble for the management of the Fi)und2rion's busine55, and for this purpose they may exerclse all
powers necessary for the benefit of the Foundation. At the quarterly Trustees meeting5, the Trustees agree the strategy
and area5 of activity for the Found3tion, including consideration of grant making, investment. reserve5 and risk
management polScles and performance.
The day-ro-day operations of the Foundation are managed by th@ Head of the Foundatlon and a dedlcated CharStable
Foundation Engagement Lead. who wlll refer any policy detSsions which need to be made to the Trustees. There are
addltlon21 Quilter employees who provide administrative seNlces. No staff or management personnel were directly
employed by the Foundation duririg the year, however the costs of one dedlcated staff metnbÈr are recharged to the
Foundation £39,960 12022: £nill. The Trusiees received no remuneration in respect of their services to the Foundation
during the year12022.' £nill.
ES
ort ond
on£itJlst te
The Trustee5 are responslble for preparlng the Trustees, Annual Report and the financial Statements In accordance wlth
applicable law and United Kingdotn Accounting Staridards Iunlted Kingdom Generally Aicepted Accounting Practice).
The law appllcable to charitie5 In England and Wales requires the Trustees to prepare flnancial staternents for each
financial year which give a tTue and fair view of the srate of affair5 of thÈ charity and of the incoming resource5 and
applicatSon of resource5 of the charity for that perlod.
In preparing these financlal statements, the Trustees are required to..
select 5Ultable accounting policies and then apply them consistentlyi
observe the method5 and principles In the Charities 50RP,.
makejudgements and estimate5 that are reasonable and prudent..
siaie whether appllcable aicountlng siandards, comprlslng Ffts 102, have been followed, subject to any
material departures disclosed Bnd explained in the financlal siatements., and
prepare the financlal statements on the going concern basis unless it is inappropriate to presume that the
charity will iontlnue in busines5.
The Trustees arÈ responsible for keeping proper accounting record5 that dSsclose with rea50nab1e accuracy at any tlme the
financSal posltion of the charity and enable them to ensure that the flnancial statements Comply with the Chariiies Act 2011
and the Charlfy (Accounts and Reporlsl Regulations 2008. They are also responsible for $2feguarding the assets of the
charity and hence fortaking reasonable step5 for the prevention and detection of fraud and other irregularltles.
Publlc Beneflt
The Trustees are mlndful of th@ir duty under the Charitie5 Act 2011 to ensure that the Four)dation's actlvltSes exist for the
public benefit. The Trustees are satisfied that the performance and achlevements of the FoundatiOFI durlng the year have
benefltted the publi£.
Plans for Future Period
ncome Gener
In 2024 and beyond, the Trustees seek to Increaso and diver5ifythe Foundation's income through engagemeni with Qullter
and its employees.
Page S
.CONFIDENTIAL

The Quilter Foundatlon
Chariiy Registered NL5mber.' 1175555
Trustees, report for the year ended 31 December 2023 {continuedl
Plans for Future Perlod Icontlnuedl
nershl Bui
The Foundatioll's strategy is 10 achieve its mission through grant making parinerships with charitable org3nisaiions that
allgn wlth It5 Stated objectives and grant rnaking themes. The Foundaiion hès made rnultl-year commitments to Charity
partners. wlth grants pèyable during 2023 through to 2024 of £807,12912022.. £1,072.3701.
The Foundatlon appoints Bean Research to manage 2nd maintain an evaluation framework 2nd theory of change for the
Foundatlon, allowing the Tru5tee5 to effectively monitor and evaluate the irnpèct of the Foundation's funding in achieving
Its stated aim5 and objective5. Bean RèsÈarch provided an independent Impatt evaluation of the Foundatlon's 2023
straiegic grant making and Local Community Fund grants in January 2024.
Disclosure of Informatlon to the Auditors
So far as each of the Trustees is aware at the tirne the report Is approved:
there Ss no relevant audit infortnation of whlch the Foundation's auditors are unaware,. and
each of the Trustees ha5 taken all Steps that they have ought to have taken to make rhemself aware of any
relevant audit information and to establish ihat rhe auditors are aware of that Information.
Signed on behalf of the Board of Trusrees
Toslnlames-odukoya ffru5teel
Approved by the Board on 01 August 2024
Page 6
.CONFIDENTIAL

The Qullter Foundation
Charity Reg15tered Nurnber.. 1175555
Independent auditors, report to the b'ustees of The Quilter
Foundation
Report on the audit of thefinancial statements
Opinion
Jn oui. opinion.'fhe Quiltei. Foundation's financial st8teinents Ithe"fiAancial statemellts")..
give a ti'ue Bnd faii'viewoltlje statc of the charity's affaii's as at 31 December2023 and of its incomiTrgiEsourees and
application of ir&ources, and cashfloiys, foi. theyear then eiided,.
have beeii proi)ci'lypi'ep%ied in aeeoidanco wilh United Kingdom GeneiallyAccepted AceouDtingPTactice (Uniied
Kiiigdorn Accountins Standai'ds, conii)ri%ing l.'IiS 102'7'1ie Financial Repurting Standaixl api)licableiii the UK aiid
Republicof Iitlajid" and ai)plicablelawl., and
have been piEpaTed in aetordance wilh the requirements of the ChaiitiesAct 20LL and Regulation 8 of The Charities
(Aecounls and Repoils) Regulatloils 2008.
We haveaudited the financial statetnents, ineluded wiihin theAnntsal Repoil and fillancial Statements {Ihe"Annual Report"),
which tompi'ise.. tlie bal8nco sheet as at 31 Deeeinbei. 2023.. the statemejit o(finan¢ial activities foi. theyearthen ended. the
statement of cash flows foi theyeai. then ended and the notesto the finallcialst3ten]ertt8, whieh include a descTiPtion of the
sigttifjeanl aecountingpoliL'ies.
Basi5 foi. oi)xnioii
We coiiductcd uui. audit in accordance with Internationgl Standai'ds on Auditing IUKI I°ISAs IUKI") and applicable law. Our
LEsponsibilitiL'S ￿nd￿'[sAs (UK) ai'o fuithei. deseribed in the Auditoi's, IEsyonsibilities foi'the audit of tlie finaneial statements
Section of oui. repoi*. Webelievethattht audit evidencewe knve abtaitted is sufficient and appropi'iate to pi'ovido abasis foi. our
opinion.
Iiiclepeiideiice
We remained independent of the charity in accordaneewth the ethical requirements thatai'eiElevant to oui. audit of thefinancia]
statoineiits in the UK, wliich includcs the FRC'S Ethical StandaiY] and we have h]lfilled oui'other ethical iEspox)sibilities itl
accordanteM4th these reqiiiiyments.
Coiiclusion8 I'elating to golng eoDcern
B&%ed on the wvrk we hav2 peifoLmed, we have not identified any maleiial uncertainties i'e]ating to events or conditions that,
indiwdually oi, eolleetivelyb tnay cast 52gnificani doubt on the ehaiity's ability to continue as a goingeollWTr foi. k p*'iod of at least
twelve moiitlis fi'oni the date on which the fiiiancial stdternenls are auilioi'i8odfor issue.
In aiiditing the financia] statements. we have tondiided that the tiwtees, use of the going conc•'n basis of aeeounting in the
preparation ofthe financial Sldtemeiits is appropriate.
However, betAuse not all future events or conditions c8n be predicted, this conclusion is not & guarantee as to the charity's ability
to eontinue as a going CODceiTr.
OUT Ltsponsibilities and the ittponsibilities of the trustees with respect to going eotttern are deseribed in the relevant sections of
this report.
Rcporting on other infoi'matlon
Thc othcr informatioii compiises all of the information in the Annual Repoit othei'than thefinantial stateinents and oui. auditors,
I￿POrt thereon.'fhe ILllStees aro Tesponsible for the other infoi'indtion. Oui. opinion on the fintsneial stateTllents does tLOt ctsverthe
Oth￿'1nf0rIljatio1l aiid, accordingly. we do iiot expiEss an auditopinioll oi'aiiy foT]n of assurajice thereon.
In eonnection with oiir audit of the financia] statements, our responsibility is to LEad the oth￿. information and, in doing so,
considei. wheihei. the oihei. information is materially iiiconsistent with the financial statements OT our l¢nowledge obtained in the
audit, OT othe]wise api)eai's to be matei'ially mi55tated. If lye identify all api)ai'ent tnateTia] inconsi£tency oi. matei'ial
misstate]nent, we aiE requiiEd to perfvrm piDceduTQS tu conelude %%'hether theTQ 15 a material mis%tatement of the finaijcial
statements oi. a matei'igl misstatement of the otliei. infoi'tnttton. I(, based oil the woi'k ive have peiforined, we conclude Ilial thei
is a matei'ial inisstaternont of this Otljer infoi'mation, ive are iEquii'ed to rcport that Cacl. We have nothing to reportbased on these
responsibilities.
Page7
.CONFIDENTIAL

The Quilter Foundation
Chariiy Registered Number.. 1175955
Independent auditop's'report to tlie h'ustees ofThe Quiltei.Foundation (continuÉd)
Based on oiii'woi'k underlaketj in thecoui£eofthe audit. the Charities Act 2011 requires us also to Tepoil eeitain opiiiions and
matters as desci'ibedbelow.
l i'ii.stee.%'Re2)Ol't
Undei. the Chai'ities Aet 2011 we are requiiEd io iEPOI't toyou if, in our opinion the infoi'mation given in theTI'll5tees'Annual
Report is inconsistenl in anymaterial Tespect with thefinancial statements. Wehave Jio exeeptiolls to irport arising fiDmthis
responsibility.
Responsibilities foi. the financlal statements and the audit
Re.%poiisibilihes t)f thc. 1S.iistccbfoi' thefinuiietol stateiFienÈs
As exi)lained more fully in thc Statetnent of Tru5tees' responsibilities in respect of the Th]stees'llnnudl repoi'l dnd the fiiiancial
statements, tlio trustees ale Tespoiisible for tlie pi'ei?ai'ation ofthe. finaiici21 Statements in accoiy]ancewith the &pplieable
fi'ajiiewoi'k and foi'beittgsaiisfied that theygive a tl'uealld fairview. The ti'ustoos 31so Tesportsible foi. such intei'ngl conti'ol as
the), detoi'tnine i5 necassary to enable tlie pi'epai'ation of financial statements that are freefrom material tnisstatenient, whethoT
due to fraud or emr.
Inpi'eparing the financial statemeiits, tlieti'u%tees are responsiblefor &%ses8ing theehai'ily's ability to continue as a going
cortcei'n, disclosing as ayplieable, rnatter.% iElated to going concei'rt and using the going coll¢el￿ basis of accounting unless the
ti￿Stee8 either intend to liquidate the chaiity oi'to cease operations. or have no LEalisticaltei'native but to do so.
Aiiditoi¥' i'espoiisibilitiesfoi. tlie aiidit of tliéfijiaiicial.statei?ieFIts
We aTe eligible to aet &iid have been appointod ￿ auditors unda'seetion 144 of the Charities Act 2011 and iEPOIt in aetordanee
with theAct and relevellt i'egulations made oi. having effecithereunder.
Oui. objeclives aiE to obtain reasonable assurance about whetheL' the financial %tatetnents Bs a whule dTe free fiom niaterial
lllSStatemeiit, whcther dueto fraud or ei'ror, and to issue an audito1￿, Teportthat includes our opinion. Reasonable assul'ance is a
high level of assui'ante biit 18 not a guai'anteethat an audit conducted in accordance iyith ISAS (UK) will always detecta mateiial
Inis5tatornent when il exists. Misslateniellls can arise fi'om fi'aud orerroi'and dreeonsidered material if, Indi￿￿duallYorin the
aggi'egate. theyeould ieasollably be expeC￿dto influence the economic decisions of useiE taken on thebasis of these financial
statements.
liyegulai'ities, incliiding h'aud, are instances of non-complianee with laws and i'egul8tions. We dosign pl￿teauLtS in line wilh ouE'
responsibilitie5, Outlinod above, to detect mdtei'ial misstatements in iEspecl af irTegularities, induding fi'aud. llje exlenl toiyhich
our pix)ceduros al￿ capable of deteeiing ii'iEgulai'ities, including fraud, 1% dotailcd be]ow.
BBsed on our undei'stattding of the charityb we identifiedthatthe principal Tisks olnon-compliance with laws and i￿g￿lationS
Idated to breaches of UK Cliai'ities reKlllatoiypi'inciples. and iveeottsideiYd the extent toivhich noll-compliancemight hdve 2
material effect on the financial statetnents. We also consideiEd thtsse laws and regulations that have adiTeet impaet on the
financial staleinents siich gs theChai'itie.% Act 2011 and relevdnt itgiilations made oi. having an effectthereunder, intludingThe
Chai'ities {Aceoiints and RepoLtsl Regul&tions 2008. We evaluated tlie inttiitives and Dppoi*unilics foi. fi'audulent mahipiilalion
of tlie finaiicial statQTnents lintludin¥the risk olovei'i'ide oleoiitrolsl bytlieti'usteos and those iesponsible loi., oi. involved iii, the
prepai'ation of the financial Stale￿entb, and determiiied that the principal iiskswere i'elated to the misappix)priation of cash and
bia.% in aieas of estiTnatiort siieh as the fail'valiie of tlieinvostiiiont poitfolio. Audit piy)ceduiEs peifoi'med included..
Holdingdi£cussions with management D'i'ustees, Head of the Foundation Finanee). ineludingeonsidei'atioii of
theii'processfor Identify￿ng artd iEsponding to tlie risk of fi'aud, and anykno￿￿ oi. suspected instances of fi'aud or
non-comp1ian￿￿ryth laws and regiilations,.
Reviewing iElevant meetingTninutes uftheTrustee board,.
Identifying and testing all Jnaterial jouriial entries tliat ci'edit cash.
Obtaining an independent eonfirmation of the invcstTnentpoitfolio held by the chai'ityi
Page 8
CONFIDENTIAL

The Quilter Foundation
Charity Registered Nurnber.. 1175555
IndepeTident auditoj's, i'epoi't to the tswstÉes of17ie Quilter Foundlltion (coKtirtued)
ltreiforming independent testing of thevsluation of the investment poitfolio.
Designing auditpTocedure8to ineorpoi'ateunpitdictabilityaix)und the nature, timin& or extent of oui'testing.
TheiE aiEinheirnt limitations iii the alldit pi¥)eedui￿ desci'ibed above. We ait less lilcelytobecotnc awai'e of instances of non-
cotnpliancewith laws &nd J'eRulations that al'e not elosely iElated to events and li'ansactions roflccted in tlie financial staternents.
A]so, the i'isl< of not detecting a iiiaterial misstalernent duc to fi'aud is higliei'than the iisk of iiot detecling one irsulting fifjm
ei'iy)r, as fraud mayinvolve deliberate concealtnei)t byi foi. exdmple. loi'geiyor iiilontional misi'epi'esentations, OT thTough
collusion.
Afurthei'de5cription of our responsibililie5 foi'theaudit of the financial statements is located on theFRC's website &t'.
wKv,.fi'e.ors.uklaudstoi'sitsyon8ibilities. This deseriptton forjiis palt of oui'auditoiE' IEport.
u.ge (if tliis I￿poi.t
This Tepoit. includingthe opinions, h2s ]￿ell prep￿i￿af0i. and ortly foi. Ihe chaiity's tii]stees as abody in accoTd8liCÈWth section
144 ollhe Chariti&% Act 2011 and regulatioii£ niade underseetion 154 of that Act (Part 4 oCThe Charit2e£ {Accaunts and ReporL41
Kegulalioiis 20081 and foi. no othei'pui'pose. We do not. in gi￿n8 th￿¢ opinions, aceept oi'assumei'esponsibility for any otlior
pui'p(Ise oi'to any other peT50n to whom this Teport is shown oi. intowliosehands it may comesaveivheTQ expressly a8iEed by our
PL'iOI'eoiL%ent in Mqiting.
Other required reporting
Cliarities Aet 2011 exeeptlon i'ei)oi'tiiig
UlldeT theCharitiesAcl 2011 we are I'equii'ed tu report toyou if, in our opinion..
we have not irceived all the infoi'rn4tion and explanations we requiiE for our alldit,. or
suffjcienl aceounting rec￿￿8 have not been kept bythe tharitytr or
the financial statetnents are not in agreement with theaccounting records.
We have no exeeptions to IEPOLI arising fiDmthis iEsponsibility.
Pricewatei'hOuseC￿pel's LI.P
Chaitered AecountaDts and8tlltutoiyAudiloTS
Solllhamploii
oIAugust 2024
Page 9
.CONFIDENTIAL

The Quilter Foundation
CharityRegi5tered Number.. 1175555
statement of financlal aitlvltle5
for thÈyearended 31 Oeiember 2023
Restrlcted Unrestrlcied
2023
Restricted Unrestrlcod
fundg
funds
2022
funds
fulld5
Total
Note
Income from..
Oonations
51A54
62,725
406,682
10
458.136
151,026
63.598
319,825
49
470,851
63,647
174,346
70S.844
Other trading art￿ltieS
Invesiments
Total IncoME
62.735
207.442
728,313
207,442
614.134
174.346
494.220
114.179
214.624
Expendlture on..
Ralslngfunds
Inve51Tnent tnanagemeni fees
11,0841
11,0841
11.3431
1440311
1792,7841
1838,1581
11.3431
{290.5311
1333.44UI
1404.7101
{447.6271
11.007.408)
11,052,782)
Total expenditure
1114,1791
(214.6241
Netgalnslllossesl on investments
Nei Income/lexpense}
10
572,252
852,938
572.252
852,938
11.È35.4561
11,835,456)
852,938
7,919,370
852,938
7,919,370
11.835.456)
9.754.826
11,835,456)
9.754.826
FDnd balances brought forward
Fund balances ¢arrled fOn￿ard at31
December
14
8.772,308
8,772,308
7,919,370
7.919.370
All ofthe chariws a<￿vItIeS derlve frorn contlnulng actI￿t￿5 durin8 ihe year.
The notes on pages 13 to 20 foTm an Integral partof these financlal st3tement5.
PaEe 10
CONFIDENTIAL

The Quilter Foundatlon
Charity Registered Number.. 1175555
Balance sheet
a5 at 31 Oecember 2023
2023
2022
Note
Flxed assets
Investments
10
8,944,751
8.249,048
Current assets
Cash and cash equivalents
Total current assets
48,017
48,017
168,149
168,149
Creditors.. amounts falllng due wthin one year
12
220,460
327,827
Net current liabilitie5
172,443
1S9,678
Total assets less current liabilitle5
8,772,308
8,089,370
Credltors.. amounts falling due after one year
170,000
Total net asset5
8,772,308
7,919,370
Funds of the charlty..
Unr@stri(ted fund5
Total charlty funds
14
8,772,308
8,772,308
7,919,370
7,919,370
The notes on pages 13 to 20 fortn an integral parl of these financial statements.
The financial statements on pages 10 to 20 were approved and authorised for Issue by the Board of Trustees on 01
August 2024 and were signed on its behalf by.
Tosin James-odukoya
Trustee
Page11
CONFIDENTIAL

The Quilter Foundation
Charity Registered Number.. 1175555
statement of cash flows
for the year ended 31 December 2023
2023
2022
Note
Net cash flows from operating ac¢lvltles
13
1162,2901
1349,0031
Investing activitles..
Bank interest
4,039
98
Proceeds from dlsposal of invesiments
Purchase of Investments
10
345.000
10
180,0001
42,158
Net cash flows generated from Investing activstles
345,098
Change In cash and cash equivalents In the reporling period
Cash and cash equivalents at the beginning of the reporting period
1120,1321
168,149
13,9051
172,054
Cash and cash equlvalents at the end of the reportlng period
48.017
168,149
The notes on page5 13 to 20 form an Integral part of these flnancial ststements.
P3ge12
.CQNFIDENTIAL

The Qullter Foundatlon
Charity Registered Number.. l 175555
Notes to the Flnanclal Statements
for the year ended 31 December 2023
Charlty Informatlon
The Qu11Ler Foundatlon Trust Is a Charit8ble Incorporated Organi53tlon IC101 registered with the Charltles Comm155lon
of England and Wales. Its charity rÈgistratiori number is 1175555.
Accounting policies
The principal accounting pollcles adopted Sn the preparatlon of the financlal statements and which have been
consistently applied lexcept where indicated) are set out as follows..
lal Basls of accounting
The financial statements have been prepared on a going concern basls under the historical c05t convention, modifi'ed to
recognise financS31 investments at fair value, with ItÈms recognlsed at cost or transaction value unless otherwise 5tsted
In the relevant notelsl to these flnancial staternenis. They aTe pres@nied in pounds sterling.
The financial statements have been prepared on the accrua15 basls In accordance wlth rhe Statement of Recommended
Practice.. Accounting and Reporting by ChaTlties preparing the financial Statements In accordance with the Financi31
Reporting Standard applicable In the United Klngdom and Republic of Ireland IFRS 1021 leffectlve I january 20191 and
th the Charities Act 20) 1.
The Quilter Foundailon 15 a publSc benefit entity as defined by FRS 102.
Ibl ILJdgements In applying actounting policies and key sources of estimation uncertainty
The Trusiees evalu3te Judgement5 and estimates as required, based on historical experience with orher f3Ctor5
including expectations of future events. The detai15. If material, are reflected in the accounting policies.
There are no material judgements requiring disclosure. Whilst some finaniial a55ets are measured at fair value, their
valuation is based upon readily available pricing Snformaiion and therefore the Trustees do not consider there to be a
slgnificant level of estimation involved in determlning their fair value. There are no other material estimate5 In the
financial Statements.
Ill Golng concern
The Trustees consider that there are llo marerial uncertalnties about The Quilter Foundatlon's ability to continue to
operate for the foreseeable future and are satisfied that It Is appropriète io adopt the golng coniern basls in preparing
the fSnancial statements.
The Foundation'5 Investment5 are held in sufficlenrly liquid assets to enable the Trustees to tmeet commitments made.
Accordingly, there are no materlal uncertainties In relation to the Foundation's abS1ity to continue to operate Bs a going
concern. ThSs ensures that despite the Foundarion being In a net current Ilability p051tion, Ilquid a55ets can be
wthdrawn from the Investments so that the Foundation is nor restricted In meetlng its obligètlons.
Idl Income
Donations are included in the 5tatemÈnt of financial actlvities when the FoundatiorE Is entitled to the income, receipt Is
probable and the amount receivable can be tneasured reliably. Investment income is stated gr055 in the year it 15 due.
(el Donated servlces and support
Quilter has provided administrative support at no cost, These donated services are Included in income In the financial
statements In the ye3r in which they are receivable, where they are quantifiable and based on all average rate for the
services at cost to Quilter,. with a corresponding amount then recogn1sed in expendlture in the year of receipt.
Page13
.CONFIDENTIAL

The Quilter Foundation
Charlty Reglstered Nurnber.. 1175555
Notes to the FinancSal Statements
for the year onded 31 December 2023
Accounting pollcies Icontinuedl
In Expenditure
All expenditure including salary costs, mernbership fees and bank charges is included on an accruals basis as a liability
is Incurred. Expondiiure ha5 been classified under headings that aggreg2re all c05t5 relared to the category. Where c05ts
cannot be directly altributed to particular headings they have been allocated to activitles on a basi5 consistent with the
Use ol rhe resources. Salary costs relate to the salary for one dedicated staff member which are borne by Quilier
Business Servlces Lirnited Ihereafter"QBS l and recharged to the Foundation.
Grants are recognlsed In the fillanclal stat@ment5 as Ilablllties after they have been approved by the Trustees and the
recipient5 have been notified.
Ig) Taxatlon
The Foundation is a reg15tered charity, and therefore is not liable for income tax or corporation tax on Income derived
frorn Its charltable activltles, 3S It falls within the provision5 of Sectlon 505, lllcome and Corporation Taxes Act 1988.
The Foundatlon is grant-8[￿nE whlch is not a busines5 actlvlty. therefore Value Added Tax Incurred on related
expendlture is irrecoverable.
Ihl Inve5tmet5ts
Investments are included in the fillanclal staternent5 at fair value. Realised and unreallsed gains and losses on
Invesiments are Included net in the statement of financlal activities in the yÈar In which they arise.
Investments have been de5￿gnated as fairvalue through profit or loss.
Fair values are determined according to the following hierarchy based on the valuatlon technique used to deterrnine
fair value.
-Level 1.. quoted price5 lunadlustedl in active markets for identical assets or1iabillties,
-Level 2.. Inpuis other than quoted price5 In acrive markets Included within Level 1 Ihat are observable for the asset or
-Level 3.. inputs for the asset or liabS1ity thar are not based on observable market data lunobservable inputs).
Unquoredllevel 2 investments are stated at fair value based on professional valuations at the balance sheet date or
nearest available date to it, Valuations are provlded bythird-parry fund administrators ILGTI.
The portfolio is managed by an appointed wealth management firrn, according to the Trustees, strategic preferences.
lil Debtors
Debtor5 are recognised at the recoverable amount due when it 15 probable that the future economic beneflts will flow
to the Foundation and the a55et has a value that can be measured reliably. These include Quilter matching of donations
made by Qullier employees.
01 Cash and cash equivalents
Cash and cash equlvaler)t5 in the flnancial staternents comprise cash at bank and in hand.
Ikl Fund accounting
The unrestricted fund comprises a general fund which is used to meet the charltable objective5 of the Foundation at the
dlscretion of the Trust@es. The restrScred fund con51Sts of monie5 ralsed for, and their use restricted to, a specific
purpose.
111 Credltors
Membership fee5 and grants payable are recognised where it is more likely than not that there is a legal or constructive
obligation commlttlng the Foundatlon to pay out resources and the amount of the obllgatlon can be measured with
reasonable ieitalnty.
Page14
.CONFIDENTIAL

The Qullter Foundation
Charliy Registered Number.. 1175555
Notes to the Financial Statements
for the year ended 31 December 2023
Accounting pollcles Icontinuedl
Im) Funds
Be&tri.(t£dfyods
Restricted fund5 comprise amounts donated to the £harlty for specific objectives speclfled by the donor or by the nature of
the fundraising.
Unr
All othÈr funds are unrestrlcted and are avallable to the charity to further anyof its charltable objectives.
Inl Flnancial instruments
Fln3ncial instrutnents are iniiially rneasurÈd at fair value. Fair value is the price that would be received ro sell an asset or
paid to transfer a liabllity in all orderly Iransaction between market participallts at the mea5urernent dale. In the Statement
of ia5h flows, cash and cash eqLJiva1ents include cash at bank and in hand.
2 Donation5
Restricted Unrestricted
funds
fund5
2023
2022
Total
Total
Corporate donations
Don3ied services and support
Total
51,454
317,065
89,617
406,682
368,519
89.617
458,136
356.341
114,510
470.851
51,454
Adminlstrztive Support Is provided by Qullter. The value of these servlces for the year ended 31 December 2023 15 estimated
at£89.61712022'. É114,5101. The v31ue of these serwces Is recognised within Income as a donation, and an equivalent tharge
Is Included WiLhin expendlture as support costs.
3 Other tradlng activitles
Restrlcted Unre5tYlcted
funds
fund5
2023
Total
2022
Total
Income from Quilter employee fundraising events
62,725
10
62,735
63,647
4 Income from investments
Restrlcted Unrestrlcted
funds
fund5
2023
2022
Toial
Total
Bank interest
Net income from LGT portfollo
4,039
203,403
207,442
4,039
203.403
207,442
98
174,248
174,346
Net Sn<ome from LGT portfollo Is comprised of £207.591 12022.. £178,659) of Investment Income frorn equitles and bonds
olfsei against £4,18812022'. E4,4111 of varlable bank charges, custodyfees and tran5aCtlonal charges.
Expendlture on ralslng funds
Restrlcted Unrestricted
funds
funds
2023
otal
2022
Total
lustGivlng membership scheme fees
Bank charges
Other
562
25
497
562
25
497
562
768
1,343
1,084
Page15
.CONFIDENTIAL

The Quilter Foundation
Charity Reglsiered Number.. 1175555
Notes to the Financial Statements
for theye3rended 31 December 2023
Expenditure on Investment management fees
Restricted Unrestrlcted
funds
funds
2023
2022
T0131
Total
LGT mènagemeni fees
41,833
41,833
41,833
41,833
44.031
44,031
Expendlture on charltable actwities
Restrlcted Unrestrlcted
fund5
funds
2023
Total
2022
Supporiingyoung Carers..
Carers Tru5t- Icharlly No.. 11451811
Local Communlly Fund
Crossroads Care-llsle Of Man Ch3rity No.. 3831
17S,7951
81,056
20,000
25,261
114,179
5,076
119,255
114,179
5,076
119.255
Flnancl81 Education..
Financial Fulures Fund IKlckSL8rt Money)-The InvestSng and
Savln85 Alliance-ICompany No.. 035487921
MyBnk-ICharity No.. 11237911
The Brokerage- (Charity No.. 10591731
20,000
510,000
50,000
so,000
50.0(M)
50.QCrfJ
530,000
Employment..
Safe New Fuiure5- Icharity No.. 10883571
Street League- (Charity No., 11013131
School of Hard KnDck5 (Charlty No.. 11470091
24,475
36,558
37,086
98,119
24.475
36,558
37,086
98,119
24,476
12.193
12.362
49.Q31
Disasters Ernergency CommitteelDECI-ICharity No.. 10626381..
Afghanlst8n
Ukraine
Paklstan
Syrlatturkey
50,LKIQ
155,790
32,260
37,500
275,550
5.000
5.000
5,0(KJ
5,000
Christrna5 campalgn,
Vivid Llve- Icompany No.. 116400391
Thrivelersey- lersEy Charlty No.. 12931
Oasls Academy Lord's Hill- (Charlty No.. 11388721
Tllsiock Skydive
London Marathon
The Grace Crocker Foundatlon- Uerseycharity No.. 2531
Beresford Street- QerseyCh3rity No.. 2271
110.QLKII
8,056
5,000
10,000
2QO
360
786
200
360
833
833
Support costs
Total
129,577
290,531
129.577
404.710
114,179
1,007.408
The support costs relate (o the adtnln15tratlYe servl£es provlded by Qullter at no charge, an e4ulvaleni sum Is Included In Income.
Income (￿￿￿e5 for2022 represent a release of an ryJer¥ctrual from prloryear.
Page16
.CONFIDENTIAL

ThÈ Qullter Foundation
Charity Re815terèd Number.. 1175555
Notès to the Financial Statements
for iheyear ended 31 December 2023
8 Analysls of 5upportcosts
Restrlcted Unrestrfited
funds
fund5
2023
2022
Total
Total
Audll lees
lary coslslsee note 91
Oonaied admSnlstr2tlve Se￿te$
5,982
39,960
83.635
129.577
5,982
39,960
83.635
129.577
5,591
108.919
The audltors, remunerallon of £5,98212022.' E5,5911 was borne byQuI￿er.
staff 105ts and Trustee5' remuneraiion
The TIu51ee5 and key manageThent personnel recek4ed no remuneratlon Sn respeit ofthelr se￿(eS to the Fovndauon during Iheyearl2022.-
£nlll. the vear. noTrustees recelved reimbursemeniof exDensesl2022'. £731
Sorne Trustee5 are emplDyed In other roles bya related entity. and recep￿ Temuneraiion and other benefits from thls entiiy,whlch arE
unrelated to thelr seNlces ta the Foundallon durlng theyear.
The Charitable Foundation employs no siaff directly12022'. £nll}. In addltlon to the Head of Foundation, Q8S ernpl￿ one staff member who
15the Foundatlon's Engagement Lead and prowldes dediiated support gemces for the da*to4ay operatlons of the Foundatlon. Frorn 2023.
the base salaryfor thi5 one dedl£Bted staffmernber Is borne byQBS and recharged to the Foundation (see note 81.
Tho Foundaiion is not the emplowng cotnpanyfor thls staff tnetnber and a5 5uih no penslons, addllioTril tienefiis or 50clal securftycosts are
charged to the Foundaiion.Therefore. nofurtherernployee dlsclosure5 have been included In EhE5e Ilnancial statement5.
10 Investrnents
Net
Net
Investment
IncDme
Funds at31
December
Funds at 1
january 2023
Purchases on invÈsiment5
LGT Fees
D15P05als
2023
LGT portfollo
Net assets
8,249.048
8,249.048
80,000
80.000
572,252
572,252
203,403
203,403
141,8331
141,8331
&944.751
8.944.751
Net
Ilossesy8ain5 on
invesimenis
Net
Funds ar 1
january 2022
Inve5tfnent
Funds at31
DIsp05a15 De£ember2022
Purchases
income
LGTfees
LGT portfo1I0
Net assets
9,955.349
9.955.349
174,248
174,248
144,031}
144,0311
1345,QOOI
134S,0001
8.249.048
.249,048
The invesllnent portfollo comprise5 of..
Net
Net Investment
Incomel
{expensÈl
Funds at 31
December
2023
Funds at 1
lanuary2023
Purchases on investmÈnis
LGT Fee5
Dlsposa15
Bondsifixed Interesr
2,722,144
2,1￿3,388
3,338,103
95,413
8,249.048
675,278
909,578
941,569
12,446,425)
80,000
142,143
224,912
205,197
{473.9561
1496.1901
11,457.0131
2.309.040
3,065,609
1731.262
3,036.376
14261
8,520
19S,309
203,403
Pooled invesimentvehlcle5
Cash
14t.833)
141,8331
572,252
8.944,751
Net
Net
Invesment
incomel
lexpen5EI
Funds a¢ i
January 2022
Funds at 31
Dlsposals December2022
Purchases
Inve5tmenis
LGT Fee5
8ond51fixÈd Inieresi
994.034
454,486
1,031,623
12,480.1431
1446,0711
1361,6361
1683.8111
1637.6301
1685.337)
11.384,0301
144,0311 1361.997
144,0311
1345,0001
2,722,144
1.093J88
3.338,103
95.413
8.249,048
2,686.205
4,374.321
83.012
9.955.349
{3301
Pooled Investmentvehlcles
Cash
Total
174,578
174,248
LGT Is the Investment portner Ma￿81￿8 the portfollo on behalf of Ihe Foundatlon.
Page 17
CONFIDENTIAL

The Quilter Foundation
Charlty Regisiered Number.. 1175555
Notes to the Financial Statements
for the year ended 31 December 2023
11 Financial instruments
Investments have been defined as fair value through prof5t or Ios5.
Level 1
Level 2
Level 3
2023
Bond51fixed interest
Equities
Pooled inve5tmentvehicles
Cash
Total
3,065,609
2,731,262
3,036,376
111,504
8,944.751
3,065,609
2,731,262
3,036,376
111,504
8,944,751
Level 1
Level 2
Level 3
2022
Bond51fixed interest
Equitie5
Pooled investmentvehicles
Cash
Total
2,722,145
2,093,387
3,338,101
95,415
8,249,048
2,722,145
2,093.387
3,338,101
95,415
8,249.048
Page18
.CONFIDENTIAL

The Qullter Foundatlon
Chariiy Regisiered Number.. 1175555
Notes to the Financial Statements
for the year ended 31 December 2023
12 Credltors
Wlthln one
2023
ear
After one year
Total
Granis payable
My8nk
sireet League
School of Hard Knocks
Safe New Futures
KiikStart Money
Disastèr Emer£ency Commlttee- Pakistan Flood
Dlsaster Emergency Commlttee- Syrl8-Turkey
Local Community Fund- Central Youth Club
Lotal Community Fund- Growlersey
Local Community Fund- Southampton City Farm
Local Community Fund- 5AFEI
Local Community Fund- Winchester and District Young CÈrÈrs
Local Communlty Fund- East Renfrewshlre Good Causes Chariiy
Local Community Fund- Redstart Educate
Local Communlty Fund- The Anthony Knighis Foundation Trust
170,000
170,000
5,000
10,000
10,000
5,000
io,000
10,000
5,000
5,000
8,755
213,755
6,660
45
220,460
5,000
5,000
8,755
213,755
6,660
45
220,460
Support Costs
lustGiving membership scheme fee5
Total
Within one
2022
Total
After oneyear
ear
Grant5 payable
MyBnk
Street League
School of Hard Knocks
Safe New Futures
Kick5t3rt Money
D15aster EtnergentyCommlltee- Paklstan Flood
Dlsaster EmergencyCommiitee- Syria-Turkey
Loial Communlty Fund- Centr31 Youth Club
Local Community Fund- Growlersey
Lotal Communlty Fund- Southampton Cliy Farm
L(xal Commur)ity Fund- SAFEI
Local Communlty Fund- Winchester and Distrirtyoung Carers
170,000
12.193
12,362
24,476
20,000
7,260
37,500
8,990
5,000
10,000
10,000
10,000
327,781
46
327,827
170,000
340.000
12,193
12,362
24,476
20,000
7,260
37,500
8,990
5,000
10,000
10,000
10,000
497,781
46
497,827
170,000
lustGivinE membershlp scheme fees
Total
170,000
There are no other financial commltments on whlch to repori.
Page 19
.CONFIDENTIAL

The Quilter Foundation
Charity Re8isiered Number.. 1175555
Notes to the Flnanclal Statements
for the year ended 31 0ÉcÈmber 2023
13 Net cash frorn operatlng a¢tlvltlÈs
2023
2022
Net surplus/ldeflcltl for the year las per the statementof financlal actfvitlesl
Adjustments for..
IGalnslllosses on Investments
Net income from LGT portFolio
LGT managemeni fees
nk interest
IDÈcrÈasÈlllncrease In creditors
Ner cash from oper6ting activities
852,938
11,835,456]
1572,2521
1203,4031
41,833
14.0391
1277,3671
1162.2901
1,491,518
1174,2481
44,031
1981
125,250
1349,0031
14 Unrestricted fund5
FLJnds at 31
December
2023
Funds at I
january 2023
Other
Expendlture Ilossesllgalns
Income
General
7,919,370
614.134
1333,4481
572,252
8,772,308
Funds at 31
Decetnber
2022
Funds at 1
january 2022
Other
Expendliure Ilosse5llgains
Income
General
9,754.826
494,220
1838,1581
11,491,518)
7,919,370
A separate disclosure on restricted Income funds has not been reported 35 there was no outsiandlng balance for the current or
prlor year.
15 Related party transactlons
Quilter provide5 other administratlve support totalllng £89,617 12022.. £114,510) io Ihe Foundation. The e5tirnated value of
these donated 5ervice5 15 reco8ll15ed wirhln Income as 3 donation, and an equivalent charge is included vrithin expendiiure 8S
support costs.
QBS eTDpIoy5 one staff mÈmbèrwho Is the Foundatlon's Engagement Lead and provides dedicated 5UPPOrt sÈNltes for the day-
to-day apÈrations of the Foundaiion. From 2023, the base salary for this one dedicated staff mernber Is borne by QBS and
recharRed to the Foundatlon Isee notes 8 and 91.
The audltors. remuneration of £5,982 12022.. £5,591), consists of fee5 in respect of the statutory audlt and was borne by Quilter.
There are no non-auditfees12022.. £nlll.
16 Post balance sheet events
There are no event5 that have occurred, belween the reportlng date ènd the date of Ihe financial statement5 have bee
authorised for issue, that require dls¢losure.
Page 20
.CONFIDENTIAL