DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
Charity number: 1177514
THIRTY PERCY FOUNDATION
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
CONTENTS
Page
Reference and administrative details of the Charity. its Trustees and advisers
Trustees. report
Independent audltors. report on the flnanclal statements
10-13
Statement of Financial Activities
14
Balance sheet
15
Statoment of cash flows
16
Notes to the financial statements
17-29

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2025
Trustees
Anne Louisa Philip Mann, Chair
Katharine Anne Hill
Derek Bardowell Iresigned 12 December 20241
Mona Bani lappoinled 20 March 20251
Muna Ragoff lappoinled 24 June 20251
Charlty reglstered
number
1177514
Prlnclpal offlce
30 Percy Street
London
W1T 2DB
Senior management
team
Anneka Deva - Program Director (from 14 October 20241
Lily Piachaud - Director of Oryanisalional Development Ifrom 3 February 20251
Louise Armstrong - Transilionary Executive Director
Sarah Gartshore - Deputy Executive l Finance Director
Independent audltors
Crowe U.K. LLP
Fourth Floor
Sl James House
Sl James Square
Chellenham
GL50 3PR
Sollcltors
Farrer & Co LLP
66 Lincoln's Inn Fields
Holborn
London
WC2A 3LH
Page 1

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their report and the audited financial statements of Thirty Percy Foundation I'Thity Percy.
or the 'Foundation"I for the year ended 31 March 2025. The Trustees have prepared this report in accordance
with the Accounting and Reporting by Ch8rib'es." Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting S18ndard applicable in the UK and Republic
of I￿land IFRS 1021 and the Charities Act 2011.
REFERENCE & ADMINISTRATIVE DETAILS
Reference and administrative details are sh()wn on page 1.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
Thity Percy Foundation was registered on 13 March 2018 as 8 Charitable Incorporated Organisation (charity
registration number 11775141. Its governing document is its constitution dated 13 March 2018 and amended on
1 October 2018 Ilhe"Conslitution°l.
Trustees
The Foundation's Trustees Ilhe "Truslees"18re listed on page 1 of this report. The Constitution requires 8
minimum of 3 Trustees and does not sel a maximum. The composition of the Trustee board is kept under
view, and any new Trustees are appointed following a careful selection process, with appointments requiring
board approval la decision taken by a majority of Trustees). The Trustees lake responsibility for staying up to
date on charity mallers and receive updates and informal training through briefing papers and allendance at
seminars and conferences. There is a fomal update on charity law and developments provided once a year by
the legal 8dviser.
Decisionwmaking
The Trustees meet at least four times a year, and use online plafforms to stay in regular contact with the team
and lake decisions outside of meetings. The Trustee board holds ultimate responsibility for the Foundation. It
agrees overall strategy, reviews and confirms policy decisions, provides grant approvals lor the terms of
delegation for some grant approvals) and discusses operating, financial and investment issues. It delegates day-
1048y management and operation of the foundation lo the Transitionary Executive Director and a team lin
accordance with a schedule of delegation, which is reviewed and amended as necessary on an ongoing basisl-
The Trustees approve the ￿MuneratiOn of key personnel, and all team member remuneration is benchmarked
against similar organisations.
Principal funding sourees and related party transactions
The Foundation is funded by a charitable purpose trust, known as The Owl Trust. The Owl Trust provided an
initial grant to the Foundation, payable over three years from 2018-2020, and a further grant to the Foundation,
payable over 5 years from 2021-2025. The Owl Trust is a connected entity to the Foundation by virtue of this
funding relationship.
The Foundation receives administrative services from Skagen Conscience Capital Limited, a related paty and a
connected entity. The services are governed by a services agreement with Skagen Conscience Capital Limited
which was ￿neWed on 1 January 2021 and revised in May 2023. The services provided in the accounting period
total £40,718 (2024." £84,697) and are recognised in SUPFX)rt costs. The service costs were setued by a cash
payment of £40,718 [2024." £10,019) and a donation in kind of £Nil (2024." £74,678). Thirty Percy has made an
acb've choice lo decouple different funelions (IT and HR) from Skagen over the last two years, in order lo have
additional independence from the Family Offi￿.
Page 2

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees manage the Foundation's affairs in its best interests. When considering any tr8ns8clion, conflicts
of interest are declared and decisions taken only by those Trustees who are not conflicted, to protect the
Foundation's independence. Further details of related party tonsaclions arè included in note 18.
OBJECTIVES AND ACTIVITIES FOR PUBLIC BENEFIT
Thirty Percy operates for the public benefit. The Trustees have taken into account the Charity Commission's
published guidance on the public benefit requirement under the Charities Act 2011 when considering Thirty
Percy's strategy and portfolio of work.
Thity Percy's charitable objectives are".
1. To promote sustainable development for the benefit of the public by".
The preservation, conservation and the protèction of the environment and the prudent use of resources",
The relief of poverty and the improvement of the conditions of life in socially and economically
disadvantaged Communities",
The promotion of sustainable means of achieving economic growth and regeneration.
2. To advance the education of the public in subjects relating to sustainable development and the protection,
enhancement and rehabilitation of the environment and to promote study and research in such subjects
provided that the useful results of each study are disseminated lo the public at18rge.
3. To advance such exclusively charitable purposes for the public benefit in any part of the woAd as the charity
Trustees from lime to lime in their absolute discretion think fit.
Thity Percy's ini1181 Trustees further defined its purpose 8S".
'We are here to contribute to the future security and wellbeing of our world. We'll do this in ways that are
imaginative, collaborative and unexpected. We can do this because we are an independent Foundation looking
lo do things differently
Operations
Thity Percy recognises that il musl develop its own culture and govemance lo deliver lo its full potential on ils
purpose. It is commilled lo working hard, with an engaged b08rd of Trustees, team and external experts, to
understand ils own ways of operating, flows of authority and lo create deeper, reflective spaces for leaming and
development. We recognise that creating change is hard and often requires risk and courage - particularly when
met with status quo paradigms that challenge our collective progress. In considering its own design, and how
well il orientates around its purpose, the Foundation considers the Charity Governance Code and integrates it
into ils stratègic framework and operating plans. For example, "act with integrity is one of the Foundation's core
values.
Portfolio of work
The Foundation's strategic framework, which was signed off in 2023 after a process of reflection, realignment,
and rèfocusing, eentres around ￿lmaginIng the governance of money, through supporting individual
changemakers, our place based investments in Gloucestershire, and Wealth Systems focused work supporting
groups working on issues such as a UK Wealth Tax, and the design of next generation capital allocator funds.
Trustees have made the decision lo sunset the Foundation in 2030, with the intention of spending down existing
funds, and futu￿ committed amounts anticipated in the year ending 31 March 2026, in line with the existing
strategic framework, honing its focus on Changemakers, Wealth Systems Interventions and Infrastructure which
enables these areas of work. Thity Percy will continue to innovate and develop ils areas of work to meet wider
structural needs and opportunities within the lime and financial constminls of this decision and within its strategic
framework
Page 3

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2025
For the year ended 31 March 2025 Thirty Percy delivered on ils purF)ose by investing through 4 inter-connected
funds".
Change-maker Fund IPreviously known as the 'Leaders Fund'l - Resourcing visionary people with disruptive
ideas. We provide funding lo individual leaders and organisalions for lo three years to amplify their
work.
Wealth System Intervenb'ons - grant funding of organisalions involved in reimagining the govemance and
movement of money.
Infrastructure - More focused funding of individuals who are providing infrastructure for change through grant
funding over 3 years.
Legacy Fund This includes the streams of work that sit outside of our future streams of work including the
Discretionary Fund, the Place based fund and the Systems fund.,
Discretionary Fund - Creating Spa￿ for individual visions, and resourcing organisalions that build towards
them which was deliberately flexible, based on Trustee discretion. The decision to phase out discretionary
fvjnding was taken in January 2022, after meeting 311 our existing commitments.
Place-based fund - a Sour￿ of innovative, collaborative, low-resource solutions providing flexible 1-3
years grants. Although further grants are not part of our planned strategy, Thirty Percy continues lo have
strong lies with the work that this fund has enabled.
Systems Fund - Focusing on different leverage points, where small shifts can produ￿ big change. We
provided a mix of longer-term core funding and rapid response funding in relation lo specific opportunities.
Most of the investments in these funds take the form of grants. Our grant making pro￿SSeS are set out in our
grants policy document, which is reviewed and updated as necessary. In brief, we source opportunities Iralher
than operate ongoing open calls for grant applicalionsl and follow a two-stage approval prO￿sS based upon
detailed due diligence.
Our capital fund holds our target value of free reserves. The Foundation signed off a new investment policy in
June 2022, which now governs these funds. This has seen the Foundation shift from an objective to maintain
and enhan￿ the real value of these funds consislenl with the Foundation's purpose, to a new objective. The
primary objective of this new policy is to "use our financial capital lo create community and ecological wealth by
following regenerative and distributive economic principles.. The secondary goal is lo maintsin our target value of
free reserves, which is set by our Reserves Policy.
As part of the implementation of the new investment policy, we liquidated our Investment portfolio held under a
del￿ated mandate with EdenTree Investment Management Limited IEdenTreel. We transferred the capital lo
deposit accounts with Charity Bank, Relian￿ Bank and Unity Bank.
To fulfil the full potential of the Spiral Investing policy, we have come lo realise the fund managers and funding
and investment Infrastructure is not in place to fully realise this. Part of the ongoing portfolio of work is
developing the Idea of a New Fund Manager Accelerator to bridge this vision and reality gap.
Page 4

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2025
Achievements and performance
The Foundation's Grants and Donation fund categories have been reorg8nised during the year to better reflect
Thirty Percy's ￿fined strategic focus. The Wealth Systems Interventions Fund and the Infmstructure Fund have
been introduced during this financial year. The Discrelion8ry Fund, Place-b8sed fund and Systems Fund have
been reclassified as the Legacy fund and our Changemaker Fund remains unchanged. Comparatives for the
Year Ending 31 March 2024 have been presented under these new Fund descriptions.
We continue to collaborate with others to understand better our effectiveness and role within the wider system.
We will not evaluate impact in silos but instead build an understanding of change across the multiple systems
and systems actors we invest in.
Breakdown of our portfolio, by Fund".
L¢ga¢y fund
2025
Forest of Dean District Council
FO￿St Voluntary Action Forum
PCAN
The M0￿MentS Trust
Sustain
Land Workers, Alliance
Doughnut Economics Action Lab CIC
100.000
111,706
10.000
555.000
150.000
100.000
164.758
1,191.464
Wealth Systems Interventions
2025
Grant lo Organisalion
Grant lo Organisalion
Grant lo Organisation
Grant lo Organisalion
Grant lo Organisalion
Grant lo Organisalion
Grant lo Organisalion
Grant lo Organisalion
Grant lo Organisalion
Grant to Organisation
Grant lo Organisalion
Grant lo Organisalion
Grant lo Organisation
Grant to Organisalion
Grant lo Indikidual
Grant lo Indimdual
Grant lo Indimdual
120,000
50.000
55.000
45,000
70,000
250.000
60.000
492.050
500.000
225
450
450
450
450
305
1.350
315
1,646.045
Page 5

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2025
Breakdown of our portfolio, by Fund..
Changewmaker Fund,
2025
Grant to CIC
Grant lo CIC
Grant lo CIC
15,000
20,457
4000
5.700
3,300
20,000
15.000
32,029
67,454
10,000
5.000
20,000
35,000
37,500
10.000
35,000
25,000
15.000
17.500
10,000
37,750
22.000
20.000
20.000
29,080
42.500
43,962
34,400
31,875
27.885
39,946
40,000
2.000
5.000
19,995
25,000
25.750
120
Grant lo CIC
Grant lo CIC
Grant lo Indiiidual
Grant lo Indiiidual
Grant lo Indimdual
Grant lo Indiiidual
Grant lo Indiiidual
Grant lo Indiiidual
Grant lo Indiiidual
Grant lo Indimdual
Grant to Indimdual
Grant lo Indiiidual
Grant lo Indiiidual
Grant lo Indimdual
Grant lo Indimdual
Grant lo Indiiidual
Grant lo Indiiidual
Grant lo Indimdual
Grant lo Indimdual
Grant lo Indimdual
Grant lo Indilidual
Grant lo Indimdual
Grant lo Indimdual
Grant lo Indimdual
Grant lo Indiiidual
Grant lo Indimdual
Grant lo Indimdual
Grant lo Indimdual
Grant lo Indimdual
Grant lo Indiiidual
Grant lo Indiiidual
Grant lo Indimdual
Grant lo Indimdual
Grant to Indiiidual
Grant lo Indiiidual
Page 6

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2025
Grant to Organisalion
Grant lo Organisalion
Grant lo Organisalion
Grant lo Organisalion
Grant lo Organisalion
1.893
5,000
5.000
5,000
30,000
917.096
Infrastructure
2025
Grant to Indiiidual
Grant lo Indiiidual
Grant lo Indimdual
Grant lo Indiiidual
Grant lo Indikidual
Grant lo Indiiidual
Grant to Indi%idual
20,000
20,000
20.000
20.000
20,000
10.000
5,000
115,000
1.we do not declare names of individuals in order to protect their privacy. We only share names of individuals if
they consent to us doing so.
Flnanclal revlew
Charitsble activities expenditure of £5,595,526 (2024.. £4, 705,531) include grants and donations paid totalling
£3,869,605 (2024.. £-), £1,290,154 (2024. £981,321) of support costs and £435,767 f2024.' £105,062) of purpose
related and enabling costs. The net movement in funds for the year was £457,525 (2024.. £968,383) and the
value of unrestricted funds as at 31 March 2025 was £10,077,383 (2024.. £9,619, 858). The statement of financial
activities for the year ended 31 March 2025 is set out on page 13 of the financial statements.
Fundralslng
The Foundation has not undertaken any fundraising activities during the year or prior period. The Foundation
occasionally accepts grant funding from purpose-aligned organisations who approach Thirty Percy with co-
funding opportunities.
Plans for future perlods
Thirty Percy continues to develop ils thoughts and plans for the future. It reviews and iterates its strategic
framework and processes on a regular basis. Alongside this, il continues to focus on ils organisalional design
and in developing ils process, skills and principles as a team. In terms of our strategic development, we continue
lo pursue a number of collaborative enquiry spaces.
Page 7

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2025
Printipal risk and uneertainties
The Foundation is, in essence, an investment vehicle that allocates capi181 and engages with strategic partners.
The principal operation81 risks to which Thirty Percy is exposed and seeks lo m8n8ge include".
Misallocation of capital (mitigated by due diligence prO￿SseS).,
Decline or total loss in income from The Owl Trust Imiligated by our reserves policy and management of our
free reserves).,
Loss of key staff Imiligated by favourable remuneration package, and a purpose and value led approach to
organisational design).,
Reputational damage (mitigated by looking to underst8nd and adopt best practice, wherever feasiblel",
Loss of confidential information (mitigated by using secure platforms, and having strict HR protocols)," and
Fraudulent aclivily,'Imiligaled through multilevel approvals and verification processes for any transfer of
funds).
We also acknowledge the systemic risks posed by climate breakdown and biodiversity loss. We continue lo keep
under review our Trustee board's oversight and management of these risks.
We are actively reviewing our approach to risk with an intention for Thirty Percy to consciously take risks that it
deems necessary to enable positive change.
Reserves
The Trustees have estsblished a reserves policy to protect the Foundation and its long-lerm grants by providing
lime to adjust to changing financial circumstances. The Trustees have considered the Foundation's
requirements for reserves in light of the main risks lo the Foundation. The Trustees considered that the most
appropriate level of free reserves Ifunds not tied to fixed assets, designated and restricted funds) is £5 million.
As the future of Thity Percy is explored, this may change. The balance of free reserves at the balance sheet
date total £10.1 million (2024.. £9. 6 millionj.
Page 8

**Docusign Envelope ID: B44FBA00-7BF8-47CA-B0CB-728625D41A85** 

## **THIRTY PERCY FOUNDATION** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** 

## **Statement of Trustees' responsibilities** 

The Trustees are responsible for preparing the Trustees' Annual Report and Financial Statements in accordance with applicable law and the United Kingdom's Generally Accepted Accounting Practice (United Kingdom Accounting Standards). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Foundation, its incoming resources and the application of the Foundation's resources for that period. In preparing the financial statements, the Trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgments and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Foundation's transactions, disclose with reasonable accuracy at any time the financial position of the Foundation and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the Constitution. They are also responsible for safeguarding the assets of the Foundation and for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Approved by order of the members of the board of Trustees and signed on their behalf by: 

**�Signed by: �83 Anne Louisa Philip Mann** 

(Chair of Trustees) Date: 06/10/2025 

Page 9 



DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THIRTY PERCY FOUNDATION
Opinion
We have audited the financi81 statements of Thity Percy Foundation (the 'ch8rity'l for the year ended 31 March
2025 which comprise the St8temenl of Financial Aclivilies, the Balance Sheet, the SL9temenl of Cash Flows and
the related notes, including 8 summary of significant accounting policiès. The financial reporting framework that
has been applied in their preparation is applicable law and United Kingdom Accounting St8ndards, including
Financial Reporting S18nd8rd 102 'The Financial Reporting Standard 8ppIic8ble in the UK and Republic of
Ireland, Iunited Kingdom Generally Accepted Accounting practi￿).
The financial statements have been prepared in accordance with Accounting and ReF)Orting by Charities
preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic
of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities." S18tement of Recommended
Practice issued on 1 April 200S which is referred lo in the extant regulations but has been withdrawn.
This has been done in order for the accounts to provide a true and fair view in 8ccordance with the Generally
Accepted Accounting Practice effeelive for reporting periods beginning on or after 1 January 2015.
In our opinion the financi81 statements".
give a true and fair view of the stale of the Charity's affairs as at 31 March 2025 and of ils incoming
sources and application of resources for the year then ended",
have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting
Practice,. and
have been prepared in accordance with the requirements of the Charities Act 2011.
8asls for oplnlon
We conducted our audit in accordan￿ with International Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial stslemenls section of our report. We are independent of the Charity in accordance with the
ethical requirements that are relevant to our audit of the financial slalements in the United Kingdom, including
the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit eviden￿ we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Conclusions relating to going concorn
In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, May cast significant doubl on the charity's ability to continue as a going
concem for a period of at least twelve months from when the financial stslemenls are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going cOn￿M are described in the
relevant sections of this report.
Page 10

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THIRTY PERCY FOUNDATION
ICONTINUEDI
other information
The other infomalion comprises the information included in the Annual report other than the financial statements
and our Auditors, report thereon. The Trustees are responsible for the other information contained within the
Annual ￿pOrt. Our opinion on the financial statements does not cover the other information and, except lo the
extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our
SFX)nsibility is lo read the other information and, in doing so, consider whether the other information is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or
otherwise appears to be materially misstated. If we identify such material ineonsistencies or apparent material
misstatements, we are required to determine whether this gives rise to 8 material misstatement in the financial
statements themselvès. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing lo report in respect of the following matters where the Charities {Accounts and Reports)
Regulations 2008 requires us to report to you if, in our opinion..
the information given in the Trustees, report is inconsistent in any material respect with the financial
slalements., or
sufficient and proper accounting records have not been kept., or
the financial statements are not in agreement with the accounting records and returns., or
we have not received all the information and explanations we require for our audit.
Responsibilitios of Trustees
As explained More fully in the Trustees, responsibilities statement, the Trustees are responsible for the
preparation of the financial statements which give a true and fair view, and for such internal control as the
Trustees determine is necessary to enable the p￿paratiOn of financial statements that are free from material
misstatement, whether due lo fraud or error.
In preparing the financi81 statements, the Trustees are responsible for assessing the Charity's ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concem
basis of accounting unless the Trustees either intend to liquidate the Charity or to cease operations, or have no
realistic alternative bul to do so.
Page11

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THIRTY PERCY FOUNDATION
ICONTINUEDI
Auditors. responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with
the Ael and relevant regu18tions made or having effect thereunder.
Our objectives are to obtain ￿asonable assurance about whether the financi81 statements 8s a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditors, report that includes our
opinion. Reasonable assurance is a high level of assufftnce, but is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always detect a material missL9tèmenl when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected lo influence the economic decisions of users taken on the basis of these financial statements.
Irregu18rilies, including fraud, a￿ instances of non-compli8nce with18ws and regulations. We design procedures
in line with our responsibilitiès, oullined above, lo delect material misstatements in respect of irregularitiès,
including fraud. The extent to which our procedures are capable of delecling irregularities, including fraud is
detailed below.
Extent to which the audit was considered capable of detecting irregularities, including fraud
We obtained an understanding of the leg81 and regulatory framewotks within which the charity operates, focusing
on those laws and regulations that have a direct effeel on the delerminalion of material amounts and disclosures
in the financial slatemenls. The laws and regulations we considered in this context were the Charities Act 2011
together with the Charities SORP IFRS10212019. We assessed the required compliance with these 18WS and
regulab'ons as part of our audit procedures on the related financial s18tement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the
financial statements but compliance with which might be fundamental to the charity's ability to operate or to avoid
a material penalty. We also considered the opportunities and incentives that may exist within the charity for
fraud.
Auditing standards limit the required audit procedures lo identify non-compliance with these laws and regulations
lo enquiry of the Trustees and other management and inspection of regulatory and legal cOr￿SFI0ndentte, if any.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud,
lo be within the timing and recognition of grant income and the ovetride of controls by management. Our audit
procedures lo respond to these risks included enquiries of management and the Board of Trustees about their
own identification and assessment of the risks of irregularities, sample testing on income and the posting of
journals, reviewing accounting eslim8tes for biases, ￿VIewIng regulatory co[￿SpOndence with the Charity
Commission, and reading minutes of meetings of those charged with governance.
Because of the inherent limitations of an audit, there is a risk that we will not detect all Ir￿gUIanties, including
those leading to a material misstatement in the financial statements or non-complianee with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions
flected in the financial statements, as we will be less likely lo become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website al. www.frc.or
.uklauditorsres onsibililies. This description forms part of our
Auditors, report.
Page 12

**Docusign Envelope ID: B44FBA00-7BF8-47CA-B0CB-728625D41A85** 

## **THIRTY PERCY FOUNDATION** 

## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THIRTY PERCY FOUNDATION (CONTINUED)** 

## **Use of our report** 

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity's Trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility 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. 


**Crowe U.K. LLP** Statutory Auditor Fourth Floor St James House St James Square Cheltenham GL50 3PR Date: 10 October 2025 

Crowe U.K. LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. 

Page 13 



DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Note
Income from:
Donations
Investments
Other income
5,909,430
143,221
400
5,909,430
143,221
400
5,554,408
119,506
Total income
6,053,051
6,053,051
5,673,914
Exponditure on:
Charitable activities
5.595,526
5.595,526
4, 705,531
Total expenditure
5,595,526
5,595,526
4, 705,531
Net movement in funds
457,525
457,525
968,383
Reconciliation of funds:
Totsl funds brought forward
Nel movement in funds
12
9,619,858
457,525
9,619,858
457,525
8,651,475
968,383
Total funds carried forward
12
10.077,383
10.077,383
9,619,858
The notes on pages 17 to 29 form part of these financial statements.
Page 14

**Docusign Envelope ID: B44FBA00-7BF8-47CA-B0CB-728625D41A85** 

## **THIRTY PERCY FOUNDATION** 

## **BALANCE SHEET AS AT 31 MARCH 2025** 

||||**2025**||_2024_|
|---|---|---|---|---|---|
||**Note**||£||£|
|**Current assets**||||||
|Debtors|10|**9,263**||_8,263_||
|Cash at bank and in hand||**10,825,207**||_10,133,887_||
|**Current liabilities**||**10,834,470**||_10,142,150_||
|Creditors: amounts falling due within one||||||
|year|11|**(757,087)**||_(522,292)_||
|**Net current assets**|||**10,077,383**||_9,619,858_|
|**Total net assets**|||**10,077,383**||_9,619,858_|
|**Charity funds**||||||
|Unrestricted funds|12||**10,077,383**||_9,619,858_|
|**Total funds**|||**10,077,383**||_9,619,858_|



The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: 

**!,Signed by: �BL Anne Louisa Philip Mann** (Chair of Trustees) Date: 6/10/2025 

The notes on pages 17 to 29 form part of these financial statements. 

Page 15 



DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Note
Cash flows from operatlng actlvltles
Nel cash from operating activities
548.099
1,237, 160
Cash flows from Investlng actlvltles
Dividends and interest from investments
143.221
119,506
Net cash provided by investing activities
143.221
119,506
Change In cash and cash equlvalents In the year
Cash and cash equivalents at the beginning of the year
691,320
1,356,666
10.133.887
8, 777,221
Cash and cash equivalents at the end ofthe year
14
10,825.207 10,133,88T
The notes on pages 17 to 29 form part of these financial statements
Page 16

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
1.1 Charity status
Thity Percy Foundation is a Charitable Incorporated Organisation registered in England and Wales
with the Charity Commission Ino.. 11775141. Ils registered office address is 30 Percy Street, London,
W1T 2DB.
The financial statements have been prepared to give a 'true and fair, view and have departed from
the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true
and fair, view. This departLJre has involved following the Charities SORP IFRS 1021 PLJblished in
October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended
Pracb"ce effective from 1 April 2005 which has since been withdrawn.
Thity Percy FoLJndation meets the definition of a public benefit entity Ljnder FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless olhenNise slated in the
relevant accoLJnting policy.
1.2 Basis of preparation of financial ststements
These financial statements have been prepared in accordance with Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021 leffeclive 1 January 20151 (Charities SORP IFRS 10211. the Financial Reporting Standard
applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011.
Thity Percy Foundation constitutes a public benefit entity under FRS 102.
Assets and liabilities are inilialty rec(4nised at historical cost or transaction value unless otherwise
stated in the relevant accounting policy.
All funds in both the current year and prior year are unrestricted.
1.3 Going Concern
The Trustees have a reasonable expectation that the Charity has adequate resour￿$ lo continue ils
activities for the foreseeable future and that there are no material Ljncertainlies about the Charity's
ability to continue. Accordingly, they continue to adopt the going concern basis in preparing the
financial stslemenls.
1.4 Income
Grant income is included in the Statement of Financial Activities when the Charity has entitlement to
the funds. il is probable that the income will be received and the amount can be measured reliably.
Donated services and goods have been recognised at their fair valLJe to the Charity al the point of
donation. These have been included in income and expenditure during the year.
Investment income is included in the year in which it is receivable.
Page 17

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies Icontinuedl
1.5 Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs related lo the category.
Expenditure on all grants is recognised once the Charity has made an unconditional commitment lo
pay the grant and this is communicated lo the beneficiary.
Support costs are those costs incurred directly in support of expenditure on the objects.
Purpose related costs are costs incurred by Thity Percy in pursuit of wider impacupurpose Iralher
than being operational costs of running and developing our team and pro￿sSes1. For example this
could be where we have agreed lo directly incur and pay for costs on behalf of a collaboration or
where we are resourcing a learning evenuspace for the wider seclorlmovemenl.
Enabling costs relate lo the operational costs of running and developing our team and pro￿Sses,.
which includes costs relating to our own direct learning and development las a team and individually),
the design and development of our processes and systems and work undertaken to identify grant
funding opportunities (such as paying for external consultants, lime lo join a focus group).
Governance costs include all costs involving the Trustees and are included within support costs.
All expenditure is inclusive of irrecoverable VAT.
Termination benefits are recognised immediately as an expense when committed to lerminale the
employment of an employee or to provide lerminalion benefits.
1.6 Financial instruments
The Charity primarily has financial assets and financial liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured al their selllemenl value.
Debtors
Accrued income is recognised al the settlement amount.
Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the dale of acquisition or opening of the deposit or similar account.
Liabilities
Liabilities are recognised when there is an obligation at the Balan￿ Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in selllemenl, and the amount
of the selllemenl can be estimated reliably. Liabilities are recognised al the amount that the Charity
anticipates it will pay to sellle the debt.
Page 18

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies Icontinuedl
1.7 Taxation
Thirty Percy Foundation is a registered charity, and as such is entitled lo laxalion exemptions on all
its income and gains properfy applied for ils charitable purposes.
1.8 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the Charity lo the fund in respect of the year.
1.9 Fund accounting
General fvnds are unreslricled fvnds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
1.10 Critical accounting estimates and areas of judgement
Preparation of the financial statements requires management to make judgements and estimates.
The Trustees consider that there are no material judgements made in applying accounting policies
nor are there any key sources of estimation uncertainty.
Income from donations
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Donations
Grant from The Owl Trust
5,S94,672
164,758
5,594,672
164.758
5,369, 167
110,563
74,678
Grants from other organisalions
Skagen Conscience Capital Limited - ServI￿S in kind
Donations
150,000
150,000
Subtotal
150,000
150.000
5,909,430
5,909,430
5,554,408
Total 2024
5,554,408
5,554,408
Page 19

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Investment income
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
EdenTree investment income
Bank interest
(11,677)
131, 183
143,221
143,221
143,221
143.221
119,506
Page 20

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysis of grants and donations
The Foundation's Grants and Donation fund categories have been reorganised during the year lo beller
reflect Thirty Percy's refined strategic focus. The Wealth Systems Interventions Fund and the
Infrastructure Fund have been introduced during this financial year. The Discretionary Fund, Place-based
fund and Systems Fund have been reclassified as the Legacy fund and our Changemaker Fund remains
unchanged. Comparatives for the Year Ending 31 March 2024 have been presented under these new
Fund descriptions.
Grants were made to both institutions and individuals in the year. These have all been listed below.
Grants to inslilulions included below tolalled £2,930,889 {2024.' £3,064, 148), with the remaining £938,716
(2024.. £555,000) being grants lo individuals.
2025
2024
Legacy Fund
FarmED
The Friendship Café
Forest of Dean District Council
Forest Voluntary Action Forum
Together in Matson
The Music Works
Gloucestershire Gateway Trust
L4 Enterprises
Countryside Community Research Institute
Create Gloucestershire
The Maggie Keswick Jencks Cancer Caring Cenlres Trust
Menopause Support
Grant lo Individual - Scotland CAN B
42,000
147,000
150,000
106,386
50,000
100,000
25,000
25,000
50,000
200,000
600,000
50,000
30,000
30,000
100.000
111.706
Grant lo Individual - Scotland CAN B
PCAN
Sustain
10,000
150.000
The Gaia Foundation
50,000
50,000
100,000
968, 762
125,000
50,000
100,000
Eeologieal Land Collective
Land Workers Allian
Doughnut Economics Action Lab CIC
Civic Square Bim)ingham
RADHR
Ownership Futures
100.000
164.758
555,000
1.191.464
3,049, 748
Page 21

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysis of grants and donations (continued)
2025
2024
Wealth Systems InteNentlons
Economic Change Unil
Fairness Foundation
IPPR
120.000
50,000
55,000
45,000
70.000
250,000
60,000
492,050
500.000
305
1,350
315
225
450
450
Just Money Movement
New Economics Foundation
Palriolic Millionaires
Women's Budget Group
Tax Justice UK
Centaxluniversity of Warwick
Grant lo Individual
Grant lo Individual
Grant lo Individual
Women's Budget Group
New Economics Foundation
Insb'tule for Public Policy Research
The Fairness Foundation
Economic Change Unil
450
450
1,646,045
Chang￿Maker Fund
During the year, 5 grants lotalling £48.457 (2024.. 3 gr2nts totalling £75,000) were made to CICS, 33
grants totalling £821,746 (2024.. 22 grants lotalling £495.000) were made to individuals and 5 grants
lotalling £46,893 were made to other organisalions.
Infrastructure
During the year, 7 grants totalling £115,000 (2024.. £Nil) were made to individuals.
2025
2024
Total
3,869,605
3.619,748
Page 22

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysis of expenditure on charitable activities
Grant and
donation
funding of
activities
2025
Activities
undertaken
directly
2025
Support
costs
2025
Total
funds
2025
Total
funds
2024
Grant making
435,767
3,869,605
1,290,154
5,595,526
4, 705,531
Total 2024
105,062
3,619, 148
981,321
4, 705,531
Anatysi$ of direct costs
Grant
making
2025
Total
funds
2025
Total
funds
2024
Purpose related costs
Enabling costs
42,679
393,088
42.679
393.088
54,844
50,218
435,767
435,767
105,062
Page 23

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysis of expenditure on charitable activities Icontinuedl
Analysis of support costs
Grant
making
2025
Total
funds
2025
Total
funds
2024
Staff costs
HR consultancy
General office costs
Computer costs
Audit and accountancy
Leg81 and professional
Bank charges
Insuran
Training, coaching and subscriptions
Travel, accommodation and subsistence
Investment manager fees
other staff costs
469,821
47,606
35,213
16,049
21,678
35,977
455
469.821
47,606
35.213
16.049
21,678
35,977
455
544,855
56,497
23,326
35, 754
22,369
28,251
943
5,471
67,579
23,293
5.471
67,579
23,293
6, 756
17,221
15,110
4,853
6,021
12,000
7,223
12,000
690
7.223
12,000
690
Trustees, fees and costs
Foreign Exchange losses
Skagen Conscience Capital Limited services in kind
Brand, website and communications
Other consultancy
Grants enabling costs
17,945
15,657
241,346
272,151
17.945
15.657
241,346
272,151
84,697
52,351
70,317
1,290,154
1.290.154
981,321
Governance costs included in support costs comprise".
2025
2024
Trustees, fees and costs
Auditorfs fees
12,000
21.678
72,000
21,612
33.678
33,612
Page 24

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Auditorfs remuneration (exclusive of VAT)
The auditors. remuneration amounts lo an auditor fee of £16,500 (2024 - £75,440), preparation of
financial statements of £2,60012024 - £2,5TOI were paid.
staff costs
2025
2024
Wages and salaries
Social security costs
Pension costs
397,765
23.419
48,637
443, 328
47,013
54,714
469,821
544,855
In addition lo the staff costs disclosed above some additional costs similar in nature to staff costs were
incurred by Skagen Conscience Capital Limited, a related party, for work on the Foundation's affairs
throughout the year. The costs incurred have been included in the financial slalemenls as part of the
ServI￿S in kind since they fell under the terms of a service agreement be￿een the entities.
The average number of persons employed by the Charity during the year was as follows..
2025
No.
2024
No.
Employees
The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was.
2025
No.
2024
No.
In the band £60,000 - £70,000
In the band £70,001- £80,000
In the band £90,001 100,000
In the band £100,001- £110,000
In the band £130,001 - £140,000
Remuneration for the key management personnel (including employer Nl and pension costsl lotalled
£219,467 (2024.. £379.576J. The key management personnel are considered lo be the Chief Executive
Officer, the Director of Operations, Investments & Culture, the Finance Director and the Director of
Projects & Collaboration.
During the year, the Charity made a temiination payment amounting lo £Nil (2024.. £48,745 to 1
Individuall, of which £NIl is outstanding at the year end (2024. £48, 745).
Page 25

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Trustees. remuneration and expenses
During the year, I￿0 Trustees, Kalharine Hill and Derek Bardowell, were remunerated for their services in
the period as pemiilled by the incorporation documents. Both Trustees received £6,000 each and was
paid in line with the signed service contracls12024'. £6,000 each).
During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £nil).
other Fixed Asset Investments
other fixed asset investments total £nil (2024.. £nil) comprise social investments which represent the
fvnding arrangement with The Foundation for Social Entrepreneurs in return for them using the funds lo
create a pool of evergreen patient capital Ilhe "Evergreen Investment Fund"). The Evergreen Investment
Fund provides eligible social entrepreneurs the opportunity to apply for up lo £50,000 of repayable patient
capital in the form of debt or equity. The Trustees consider il prudent to fully impair the investment due lo
the nature of the arrangement and uncertainty around its recoverability.
10. Debtors
2025
2024
Prepayments and accrued income
9.263
8,263
11. Credltors: Amounts falllng due wlthln one year
2025
2024
Trade creditors
Other creditor
Awruals and deferred income
561.231
2,723
193,133
409,373
25,808
87,111
757.087
522,292
Page 26

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
12. Statement of funds
Current year
Balance at
31 March
2025
Balance at 1
April 2024
Income Expenditure
Unrestricted funds
General Funds - all funds
9,619.858
6.053,051
15.595.526} 10.077,383
Prior year
Balan￿ at
31 March
2024
Balance al
l April 2023
Income Expenditure
Unrestricted funds
General Funds - all fvnds
8.651.475
5, 732, 7 13 (4. 763, 730)
9.619,858
13.
Reconciliation of net movement in funds to net cash flow from operating activities
2025
2024
Nel income for the year las per Statement of Financial Acliviliesl
457,525
968,383
Adjustments for:
Dividends and interest from investments
Ilncreaselldecrease in debtors
Increase in creditors
1143,221}
11,000}
234.795
(119,506)
6,736
381,54T
Net cash provided by operating activities
548.099
1,237, 160
Page 27

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
14.
Analysis of cash and cash equivalents
2025
2024
Cash at bank
10,825,207 10, 133,887
15. Analysis of changes in net debt
At 1 April
2024 Cash flows
At 31 March
2025
Cash at bank and in hand
10,133,887
691,320 10,825,207
16. Grants payable In future perlods
The Foundation's Grants and Donation fund categories have been reorganised during the year lo better
reflect Thirty Percy's refined strategic focus. The Wealth Systems Interventions Fund and the
Infrastructure Fund have been introduced during this financial year. The Discretionary Fund, Place-based
fund and Systems Fund have been reclassified as the Legacy fund and our Changemaker Fund remains
unchanged. Comparatives for the Year Ending 31 March 2024 have been presented under these new
Fund descriptions.
At the Balan￿ Sheet date, the Foundation had future grant payments falling due under signed grant
agreements as follows..
2025
2024
Infrastructure
535,000
704.500
1.018.500
Legacy
Change-maker Fund
837, 706
830,000
Total payable
2,258,000
1,667, 706
Future grant payments are contingent Ljpon the satisfactory complianTr with the terms contained in the
grant agreement and as a result are not recognised as a liability in the Balance Sheet. The grant
payments fall due in various stages extending to April 2027.
Page 28

DoGUSign Envelope ID". B44FBAOO-7BF847CA-BOCB.72B625D41A85
THIRTY PERCY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
17.
Pension commitments
The Foundation operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the Charity in an independently administered fund. The pension cost charge
represents contributions payable by the Charity lo the fund and amounted to £48,637 (2024.. £54,7141.
There were amounts oulslanding at the year end of £nil (2024.. £nil).
18. Related party transactions
Anna Louisa Philip Mann, a Trustee of the Foundation, is also a Director of Skagen Conscience Capital
Limited. During the year, Skagen Conscience Capital Limited provided ServI￿S to the Foundation
lotalling £40,718 (2024.. £84.697) of which £Nil was contributed as a donalion-in-kind (2024.. £74, 768)
and the balance of £40,718 (2024.. £10,019) was paid in full by the balan￿ sheet dale. The services
provided related lo staff time and expertise in the core administration of the Foundation.
Derek Bardowell, a Trustee, is also the CEO of Ten Yearfs Time Enterprises Ltd. During the year, Ten
Year's Time provided training ServI￿S to the Foundation lotalling £150 (2024.. £1,620) which was paid in
full by the balance sheet date.
Katie Hill, a trustee, provided consultancy serVI￿S lo the Foundation to support work on the UK Wealth
Tax Project lotalling £21,750 (2024.. £Nil) of which £16,050 was paid by the balan￿ sheet dale and
£5,700 paid posl-year end.
Page 29