MYANMAR TRUST UK
IA COMPANY LIMITED BY GUAPANTEEI
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
Company Registration Number 1180966
Charity Number 11180399

MYANMAR TRUST UK
FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
CONTENTS
PAGE
Trustees, Annual Report
Reference & Administrative Information
Independent Auditor's Report
Statement of Financial Activities
10
Balance Sheet
Cash Flow Statement
12
Notes to the Financial Statements
13-25

MYANMAR TRUST UK
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 JANUARY 2024
The trustees present their report and financial statements for the year ended 31 January 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to
the financial statements and comply with the charity's governing document, the Companies Act 2006 and
"Accounting and Reporting by Charities.. Slalement 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" (effective from 1 January 20191.
Objectives and Activities
The charity's objects are lo advance such charitable purposes (according to the law of England and Wales)
for the people and inhabitants of Myanmar (both in Myanmar and elsewhere) as the trustees think fiL
Since the allempted military coup on February 1, 2021, the people of Myanmar have valiantly persisted in
their unwavering resistance against a resurgence of military rule, bravely confronting an unyielding onslaught
of military alrocilies. Recognising this as a pivotal juncture aligning long standing aspirations for democracy,
and ethnic rights in Myanmar, we, MTUK advance our charitable objectives through strengthening the
grassroots-led advancement of an inclusive and democratic future in Myanmar.
With support lo grassroots groups fundamental to our approach, our achievements explicitly challenge the
notion that the complexity of conflict conlexls impedes funds from reaching local civil society initiatives. Our
expanding donor base in 2023 is testament to the reality that innovative models tall0￿d lo specific contexts
can and will deliver significant benefits al low costs even in the most constrained circumstan￿S. The expertise,
and experience within our team from Iruslees, staff, ar￿ local partners has ensured that increases in funding
from diverse public and private funds has ensured that we can offer more comprehensive support to existing
and emerging groups working for human rights, equality and accountability.
The MTUK model remains one which engages re-granting activities to enable funds lo reach key groups on
the ground in Myanmar. In doing so, our experienced staff, 700A of whom are from Myanmar, leverage decades
of experience working with nongovemmental organisalions in Myanmar, to maintain strong relationships with
grantees and end beneficiaries. These relationships with trusted groups and individuals ensure that we can
maximise the impact of funds and keep our own costs lo the minimum required to maintain strong due diligence
processes for fiscal and operational oversight. We assess our Suc￿sS based on outcome harvesting from
groups supported, and the ability of our assistance to achieve in change in hard-I￿reaCh areas.
The vast majority of funds in 2023-24 reached areas severely affected by conflict. This aligned with a key
focus of our team lo ensure that our model provides genuine assistance lo community members that cannot
access traditional forms of aid. We did this in an efficient manner, providing grants tolalling over one and a
half million pounds lo more than 100 beneficiaries, with administrative costs lincluding staffing costs) of less
than 12,/0 of total funds expended in 2023-24. The charts below illustrate the geographic and Ihemalic
breakdown of our assistance.
1>
% or9￿￿tee$ supported by region
Thernatic Dislrtbution ofAssistsnce

MYANMAR TRUST UK
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 JANUARY 2024
The Trustees confirm that we have complied with the duty in section 4 of the Charities Act 2011 to have due
regard lo public benefit guidance published by the Charity Commission.
Achievements and Impact
"The support from MTUK has enabled us to make a meaningful contribution towards saving the In￿S
of the most vulnerable populations in Myanmar who have been profoundly affected by the coup and
the human rights violations perpetrated by the junta. The MTUK contribution for emergenGy SUPPOrt
which is flexible and rights-orienled have been benefrfting Myanmar people and their/our fight for
democracy and Justice."
An MTUK grantee organisalion, December 2023 lorganisation name withheld for their securityl
Civil society in Myanmar, a country of 55 million people, is facing an unprecedented crisis since the coup. At
the end of 2023, the UN reported that there were 2 million displaced persons across the country and 18.6
million people requiring urgent humanitarian aid1 These are civilian populations living precariously and
unprotected in forests, roadside encampments, or schools and religious buildings as a result of ground and
air allacks. Many have lost everything at the hands of the Myanmar military. The Myanmar military, that claims
its duty is to protect the people of Myanmar, has razed over 16,500 mostly rural homes and forcibly evicted a
further 50,000 people from urban settlements2 This indiscriminate targeting of civilians is collective
punishment of whole communities for their perceived support of an increasingly sophislicaled armed
insurgency seeking lo establish an inclusive democratic country.
The extreme campaign of violence perpetrated by the Myanmar military against civilian populations create
persistent challenges for civil society operating in the country. This includes direct violence by forces on the
ground and in the air, as well as indirect violence through the notorious 'four cuts policy, which aims to prevent
recruits, finances. intelligence, and food reaching mstive regions. This tactic does not discriminate between
military, and civilian targets causing huge hami tr) civilians, as well as all those who seek lo assist them. With
the military losing ground in 2023. particulady after 'Operation 1027,, reaching the most vulnerable prevents
challenges any funder, even one like MTUK which has taken extensive steps to maintain ils ability to reach
them. Recognising, mitigating, and responding to these challenges has been fundamental to our approach.
Financially, safely sending funds to beneficiaries is complex as the Myanmar military has control of the central
bank, actively monitoring, and preventing transfers through the fomial banking system lo non-governmental
organisations, and individuals perceived as opposing ils hegemony.
Finding and closely monitoring routes lo send funds has enabled MTUK to further our work of bridging gaps
in funding so partner organisalions may distribute knowledge, engage in collective action, and build community
resilien￿ through human-rights based, and gender-mainstreamed approaches. Our grants to local actors
have focused on enabling a degree of stability for partners working in conflict-affecled and hard to reach areas
through flexible, accessible, and reliable funding with a focus on wre operational support.
Complementing this, over the past year, we have provided targeted organisational assistance to enhance the
impaet of our partners, work including organizalional development, commun(cy resilience engagement,
gender-responses, legal strategy development, and good governance support. We have also maintained a
strong focus on trainings, discussions, and mentoring.
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MYANMAR TRUST UK
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 JANUARY 2024
Whilst the immense risks our grantees are taking on a daily basis prevent us from publicizing their names or
that of their inslilulions, the below bullet points outline some of their slandoul achievements in 2023 as
harvested from among our outcomes.,
Leg81 Services
Enabling public access lo legal services for those in remote and hard-lo-reach communities
across Myanmar
Protection
Ensured the safely and security of scores of human rights defenders in Thailand and
Myanmar
Politics and Pluralism
On-the-ground initiatives to build pluralist youth and multi-ethnic and religious understanding
especially in central Burma, including discussion based online platforms focused on non-
vidence, pluralism and human rights in conflict situations.
Gender and Women
Community-level initiatives for protection and resilience, focused on women-led and youth-
led groups working lo prevent gender-based violence, and provide support lo any victims.
They also provide Sexual and Reproductive Health and Rights {SRHRI assistance, and
mental hea￿h initiatives are for CSOS and others working with community-members.
Livelihoods support and training for women-led households.
The Trustees note the extraordinary ￿MMItMent of the staff, consultants and our accountsnts to the important
lifesaving worf( they have made possible during 2023-24.
Financial review
During the year £1,893,509 12022-2023.. £1,583,978) of income was received and amount of £1,890,008
12022-2023.. £1,056,038} of expenditure incurred resulting in net income of £3,501 12022-2023.. nel income of
£527,940). As of 31 January 2024 £602,406 was held as restricted funds, the unreslricled fund balan￿ was
£19,469. As of this report, Myanmar Trust UK'S principal sourTr of funding from Oak Foundation is secured
following the end of the financial year for a new Ihree-year grant of $3,390,000.
MTUK'S annual budget includes setting aside funds in reserve for any unexpected shortfalls or expenses. The
target minimum Operating Reserve Fund is equal lo three months of average operating costs. The calculation
of average monthly operating costs includes all recurring, predictable expenses such as salaries and benefits,
occupaney, office, travel, program, and ongoing professional services. Depreciation, in-kind, and other
noncash eX￿nSeS are not included in the calculation. Consideration will be given lo future strategy, potential
redundancy liabilities, and any other significant factors that should be taken into account were the Charity to
close or move lo new premises. As of January 31, 2024. MTUK designates its unrestricted funds of £19.469
lo its operational reserve. According to its average operating costs, the charity aims to build its reserves to a
level of £50,000 in the 2024-25 Financial Year. The chartty will achieve this through the use of interest-bearing
accounts and the transfer of interest to unrestricted funds with the permission of its donors.
Fundraising and future plans
MTUK is maintaining relationships with existing sources of funding and reaching out to new donors. Post-year
end, MTUK has received income of $3.39 million from OAK Foundation, $396,953 from USAID Inclusive
Federal Democracy Activity, and $600,000 from TIDES Foundation. MTUK consultants engage with new
donors through existing relationships.
The banking system inside the country is tightly controlled by the military, and withdrawing money from banks
extremely difficult, if not impossible. MTUK Trustees therefore decided to use intermediaries where necessary
in order lo gel funding lo trusted groups consislenl with the Charity Commissions guidelines. In view of the
high risk of working in Myanmar, the Trustees review the Financial Management and Control and
Intemiediaries Policies annually.

MYANMAR TRUST UK
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 JANUARY 2024
MTUK plans to continue grant making in the future wort(ing towards the following key objectives,.
1.. To contribute lo an enabling environment for enjoyment of human rights in Myanmar through
furthering infomation and resource aC￿sS of emerging human rights defenders engaged in non-
violent discourse on Myanmar's democmtic future.
2.. To hold perpetrators of human rights violations accountable through grassroots development of
domestic legal approaches & systems. intemalional litigation efforts, and protection of human rights
defenders
3.. To promote and protect gender and minority rights in Myanmar, through building self-reliance and
resilience of LGBT+l women-led organisations and researchers.
The trustees identify that the future direction of MTUK will focus on maintaining the trust and relationships built
with local groups in Myanmar and continuing lo support key local civil society initiatives in the most hard-l
reach areas.
Structure, governance and management
The charity is a company limited by guarantee which is governed by ils Memorandum and Articles of
Association dated 31 January 2018 and amended on 5 October 2018.
As MTUK has grown, the trustees invited new members with required skills and knowledge during 2023.
The trustees, who are also the directors for the purpose of company law, and who served during the year and
up lo the dale of signature of the financial statements were..
Ms Z Herbert
Mr S King
Mr V Kumar
Mrs M Lee
Mr M Tent Bo
Ms E Tydem8n
Dr M Sadan
(appointed 19 July 20231
lappoinled 15 January 20241
(appointed 10 July 20231
{resigned 10 July 2023}
Trustees are appointed by majority vole of the board of trustees. New Iruslees have a briefing on their roles
and responsibilities from existing trustee and are encouraged lo attend the Charity Commission UK'S
training for new trustees online.
None of th8 Irusl8es has any beneficial interest in the company. All of th8 Iruslees are members of the
company and guarantee to contribute a sum not exceeding £10 in the event of a winding up.
The trustees have oversight of the charity's activities including approval of all banking transactions. Day lo
day management is overseen by the Executive Director, Andrew Smith. The Executive Director reports to
the trustees on a six-monlhly basis and is required lo manage MTUK in line with the policies approved by
the trustees.

MYANMAR TRUST UK
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 JANUARY 2024
statement of trustees. responsibilities
The Iruslees (who are also directors of Myanmar Trust UK for the purposes of company lawl are responsible
for preparing the Trustees, Report (incorporating the strategic report and directors, report) and the financial
statemenls in accordance with applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102.. The Financial Reporting Slandard applicable in the UK and Republic of Ireland
{Uniled Kingdom Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true
and fair view of the slate of affairs of the charitable Company and of the income and expenditure. of the
charitable company for that period. In preparing these financial slalements, the trustees are required to..
select suitable accounting policies and then apply them consislenUy-
observe the methods and principles in the Charities SORP.,
make judgments and accounting eslimales that are reasonable and prudent.,
slate whether applicable UK Accounting Standards have been followed, subject lo any material
departures disclosed and explained in the financial statements,. and
prepare the financial slalemenls on the going concern basis unless it is inappropriate to pfftsume that
the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy
at any lime the financial position of the charitable company and enable them lo ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of
the charitable company and hen￿ for taking reasonable steps for the prevention and detection of fraud and
other irregularities.
In so far as the Iruslees are aware..
there is no relevant audit information of which the charitable company s auditors are unaware., and
the trustees have taken all steps that they ought to make themselves aware of that infomiation.
Audltor
Burton Sweet Limited were apwinted as auditor lo the company and a resolution proposing that they be re-
appointed will be pul at a General Meeting.
Approved and signed on behalf of the trustees by:
Ms Z Herbert
Trustee
Dale..
22 July 2024

MYANMAR TRUST UK
REFERENCE & ADMINISTRATIVE INFORMATION
YEAR ENDED 31 JANUARY 2024
Trustees
Ms Z Herbert
Mr S King
Mr V Kumar
Mrs M Lee
Mr M Tent Bo
Ms E Tydeman
Dr M Sadan
lappoinled 19 July 2023)
lappoinled 15 January 2024}
lappoinled 10 July 2023)
{resigned 10 July 20231
Secretary
Mr A Smrf(h
{appointed 25 July 20231
Key Management Personnel
Andrew Smith, Executive Director
Registered Company Number
1180966
Reglstered Charlty Number {England and Wales)
11180399
Registered Office
The Clock Tower, 5 Fadeigh Court. Old Weston Road. Flax Bourton, Bristol BS48 1 UR
Audltor
Burton Sweet Limited. The Clock Tower, 5 Farleigh Court. Old Weston Road, Flax Bourton,
Bristol BS48 1 UR
Bankers
Nalwesl Bank 135 Bishopsgale. London EC2M 3UR

MYANMAR TRUST UK
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF MYANMAR TRUST UK
YEAR ENDED 31 JANUARY 2024
Opinion
We have audited the financial statements of Myanmar Trust UK {the °Charily'l for the year ended 31 January
2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and
notes to the financial slalemenls, including a summary of significant accounting policies. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including Financial Reporting Standard 102.. The Financial Reporting Standard
applicable in the UK and Republic of Ireland (United Kingdom Generally Ac￿pIed Accounting Praclicel.
In our opinion, the financial statemerrts=
give a true and fair view of the stsle of the Charity's affairs as at 31 January 2024 and of ils income
and expenditure for the year then ended.
have been properly prepared in accordance with United Kingdom Generally AC￿pted Accounting
Practice.,
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted out audit in accordance wlh intemalional Standards in Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the
audit of the financial statements section of our report. Vve are independent of the Charity in accordan￿ with
the ethical requirements that are relevant to OLJr audit of the financial statements in the UK, including the FRC'S
Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.
We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our
opinion.
Conclusions relating to going concem
In auditing the financial slatemenls, we have concluded that the directors, use of the going concem 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 concern for a period of at least twelve months from when the financial statements are aulhorised for
issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the
relevant sections of this reporL
Other infomiation
The trustees are responsible for the other information. The other information comprises the infom)alion
included in the annual report other than the financial statements and our auditor's report thereon. Our opinion
on the financial statements does not cover the other infomialion and, except to the extent otherwise explicitly
stated in our report, we do not express any fomi of assurance conclusion thereon.
In connection with our audit of the financial statements, our ￿SpOnsIbl11ty is to read the other infom)ation and.
in doing so, consider whether the other information is materially inconsistent with the financial statements or
our knowledge obtained in the audit or otherwise appears lo be materially misslaled. If we identify such
material inconsistencies or apparent material misstalemenls. we are required to determine whether there is a
material misslalement in the financial statements or 8 material misstatement of the other infom)ation. If based,

MYANMAR TRUST UK
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF MYANMAR TRUST UK
YEAR ENDED 31 JANUARY 2024
on the wort we have performed, we conclude that there is a material misstalemenl of this other information,
we are required to report the fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the ccxjrse of the audit..
the information given in the trustees, report lincorFrt)rating the directors, report) for the financial year
for which the financial slalements are prepared is consistent with the financial stalemenls., and
the directors, report has been prepared in accordance with applicable law requirements.
Matters on whlch we are requlred to report by exceptlon
In the light of our knowledge and understanding of the charitable company and ils environment obtained in
the course of the audit, we have not identified material misslatemenls in the directors, report.
We have nothing to report in respect of the following matters in relation lo which the Companies Act 2006
requires us to report to you if, in our opinion..
adequate accounting records have not been kept. or retums adequate for our audit have not been
received from branches not visited by us-
the financial statements are not in agreement with the accounting records and retums-
certain disclosures of trustees, remuneration specified by law are not made- or
we have not obtained all the infom8tion and explanations necessary for the purposes of our audit., or
the trustees were not enlilled to prepare the financial statements in accordance with the small
companies, regime and take advantage of the small companies, exemptions in preparing the directors,
report and from the requirement lo prepare a strategic report.
Responsibilities of tNstees
As explained more fully in the trustees, responsibilities slalemenl, the Iruslees are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
internal control as they determine is necessary lo enable the preparation of financial statements that are free
from material misstatement. whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the Charity s ability to continue
as a going concern, disclosing, as applicable, mallers related to going concern and using the going concem
basis of accounting unless the trustees either intend to liquidate the Charity or lo Cease operations, or have
no realistic alternative but to do so.
Auditor's rgsponsibilitios for the audit of the financial statements
Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole are free
from material misslalement, whether due to fraud or error, and to issue an auditor's report that includes OLJr
opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted
in accordance with ISAS IUKI will always delecl a material misstatement when il exists. Misslatemenls Can
arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably
be expected to influence the economic decisions of users taken on the basis of these financial statements.

MYANMAR TRUST UK
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF MYANMAR TRUST UK
YEAR ENDED 31 JANUARY 2024
Our approach lo identifying and assessing the risks of material misslalement in respect of irregularities,
including fraud and non-complian￿ with laws and regulations, was as follows..
we identified the laws and regulations applicable to the charity through discussions with those charged
with governance and other management, and from our knowledge and experience of the sector,.
we focused on specific laws and regulations which we considered may have a direct material effect
on the financial slalemenls of the operations of the company, including the Companies Act 2006.
taxation legislation and data protection, anti-bribery, employment, pensions, environmental and health
and safety legislation., and
we assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management, inspecting legal correspondence and remaining alert during the audit for
any indications of non-compliance.
Our audit procedures in relation to fraud included but were not limited lo..
making enquiries of those charged with govemance and other management as lo where they
considered there was susceptibility lo fraud, their knowledge of actual, suspected and alleged fraud-
discussing amongst the engagement team the risks of fraud.,
gaining an understanding of the intemal controls in place lo mitigate risks of fraud and non-compliance
with laws and regulations.,
testing joumal entries to identify unusual transactions.,
assessing whether judgements and assumptions made in determining the accounting estimates sel
out in the accounting policies were indicative of potential bias,. and
investigating the rationale behind significant or unusual transactions.
There are inherent limitations in our audit procedures described above. The more removed that laws and
regulations are from financial transactions, the less likely il is that we would become aware of non-compliance.
Auditing standards also limit the audi( procedures required to identify non-compliance with laws and
regulations to enquiry of the directors and other management and the inspection of regulatory and legal
correspondence, if any. Material misslatemenls that arise due to fraud can be harder lo delecl than those
that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audfc of the financial statements is located on the Financial
Reporting Council's website al www.frc.or
.uklaudilorslaudil-assurance-elhicslaudilors-res
onsibililies-for-
Ihe-audil. This description fomis part of our auditor's report.
Use of our report
This report is made solely to the Charity's members, as a body, in accordance with Chapter 3 of Part 16 of
the Companies Act 2006. Our audit work has been undertaken so that we might stale to the Charity's
members those matters we are required to state in them in an auditor's 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's
members as a body, for our audit work, for this report, or for the opinions we have formed.
Joshua Kingston ACA (Senior Statutory Auditor)
For and on behalf of Burton Sweet Limited
StatLJlory ALJdilor
The Clock Tower
5 Farteigh Court
Old Weston Road
Flax Bourton
Bristol BS48 1 UR
Dale..
22 July 2024

MYANMAR TRUST UK
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 JANUARY 2024
Unrestricted Restricted Total Funds Total Funds
Funds
Funds
2024
2023
Restated
Note
Income from:
Donations and granls
Charitable aelivities
Investment income
50
95,594
11,459
1,783,747
1,783,797
95,594
14,118
1,583,978
2,659
Total income
107,103
1,786,406
1,893,509
1,583,978
Expenditure on..
Raising funds
Charitable activities
19,149
1,783,225
19,149
1,870,859
12,979
1,043,059
87,634
Total expenditure
87,634
1,802,374
1,890,008
1,056,038
Net incomellexpenditurel and
net movement in funds
19,469
115,968}
3,501
527,940
Tol81 funds al start of year as per
prior year accounts
603,780
603,780
90,434
Prior year restatement
20
14,594
14,594
Total funds at start of year
restated
17
618,374
618,374
90,434
Total funds at end of year
17
19,469
602,406
621,875
618,374
The Charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are dassed as continuing.
The notes on pages 13 to 25 fomi part of these financial statements
See note 12 for fund-accounting comparative figures
10

MYANMAR TRUST UK
BALANCE SHEET
AS AT 31 JANUARY 2024
Company number: 11180399
2024
2023
Note
Current assets
Restated
Debtors
Inveslmenls
Cash al bank and in hand
13
124,471
462,374
344,082
106,093
650,618
930,927
756,711
Liabilities
Creditors - amounts falling
due within one year
14
1309,052}
1138,3371
Net current assets
621,875
618,374
Total assets less current liabilities
621,875
618,374
Net assets
621,875
618,374
FUNDS
Unrestricted funds
General funds
Restricted funds
Endowment funds
17
17
17
19,469
602,406
618,374
Total funds
621,875
618,374
These financial statements were approved by the Trustees on
22 July 2024
and are signed on their behalf by..
Zunetla Herbert
TrLJStee
The notes on pages 13 to 25 form part of these financial statements

MYANMAR TRUST UK
CASH FLOW STATEMENT
YEAR ENDED 31 JANUARY 2024
2024
2023
Note
Net cash inflow from operating activities
15
141,720
467,219
NOn￿PeratIOnal cash Ilows:
Investing activities
Payments for investments
Investment income
1462,374}
14,118
1448,256}
Net cash inflowl{oufflowl for the year
16
1306,536}
467,219
Cashflow Restrictions
Charity law prohibits the use of net cash inflows on any endowed or other restricted fund to offset nel cash
oufflows on any fund outside its own objects, except on special authority. In practice, this restriction has not
had any effect on cash flows for the year.
The notes on pages 13 to 25 form part of these flnanclal statements
12

MYANMAR TRUST UK
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
1 Accounting policies
Accounting convention
The financial statements have been prepared in accordance with the historic81 cost convention (except for
investments which have been included al fair value) and in accordance with the Statement of
Recommended Practice- Accounting and Reporting by Charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in
October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of
Ireland (FRS 1021 and the Companies Act 2006 and UK Generally Accepted Practice as il applies from 1
January 2019.
The charity is a public benefit entity as defined under FRS102. The charity has secured sufficient funding
for the next three years, and Could redu￿ expenditure if income was reduced. At the time of approving the
financial statements, the Iruslees have a reasonable expectation that the charity has adequate reSoUr￿S lo
continue in operational existence for the foreseeable future. Thus the Trustees continue lo consider that
there are no material uncertainties affecting the ability of the charity to continue as a going concern.
The financial slalements are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
Income
Income from donations is included in income when these are receivable, except as follows=
l. When donors specify that donations given to the charity must be used in future accounting periods, the
income is deferred until those periods.,
11. When donors impose conditions which have to be fulfilled before the charity becomes entitled to use
such income, the income is deferred until the pre-conditions have been met.
Income from the supply of services is recognised with the delivery of the contracted service based on the
lime spent providing a service as a proportion of the total lime required to fulfil the contract, or other such
method to detemiine the completion stage of a service.
Expenditure
Expenditure is recognised in the period in which it is incurred. Expenditure includes attribulable VAT which
cannot be recovered.
Raising funds
Raising funds expenditure include those costs incurred in seeking voluntary contributions and other similar.
13

MYANMAR TRUST UK
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
1 Accounting policies (continued)
Charitable Activities
Grants awarded are allocated lo charitsble aclivilies.
Grants payable are payments made lo third parties in the furtherance of the charitls objectives. Grants
awarded are treated as expenditure and a liability in the accounts as soon as they become legal or
constructive obligations. In the case of multi-year grant awards, the funding for all years is immediately
recognised unless there are conditions which need lo be met by the recipient lo enable the release of
subsequent years, funding.
Provisions of grants are made when the intention to make the grant has been communicated to the
recipient but there is uncertainly as to the timing of the grant or the amount of grant payable.
Govemance costs
Govemance costs include those costs associated with meeting the conslilutional and statutory
requirements of the charity and include the audit fees and costs linked to the strategic managemenl of the
charity. Govemance costs are inclLJded within support costs.
Allocation and apportionment costs
Certain expenditure is directly attributable to specific activities and this has been included in those cost
categories. Other costs, which are attributable to more than one category, are apportioned across cost
categories on the basis of an assessment of workload carried out from time to time.
Overhead support costs have been allocated between fundraising costs and charitable activities. The
apportionment has been allocated on the basis of usage and is analysed in note 7.
Pension costs and other post-retirement benefits
The charity conlribules lo defined contribution pension schemes. Contributions payable to the charity's
pension schemes are charged to the Statement of Financial Activities in the period lo which they relate.
Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. These financial instruments are initially recognised al transaction value and subsequently
measured al their settlement value.
Crltlcal accountlng estlmates and judgements
In the application of the charity's accounting policies, the trustees are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The Trustees do not believe there to be any judgments or estimates that would be
considered critical to the financial stslemenls.
14

MYANMAR TRUST UK
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
1 Accounting policies Icontinuedl
Debtors
Trade and other debtors are recognised at the setuemenl amount due after any trade discount offered.
Prepayments are valued al the amount prepaid after taking account of any discounts due.
Cash at bank and in hand
Cash al bank and cash in hand includes cash and short term highly liquid investments with a short maturity
of three months or less from the date of a¢quisilion or opening of the deposit or similar a¢¢ount.
Investments
The investments in the accounts are recognised as investments due lo the intention of the trustees lo hold
these funds to generate income for the coming year.
Credltors
Creditors and provisions are recognised where the charity has a present obligation resulting from a past
event that will probably result in the transfer of funds lo a third party and the amount due to sellle the
obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their
settlement amount after allowing for any discounts due.
Funds held as agent
Funds held as agent are funds that are received but are not in the control of the charity. Instead the use of
the funds is dictated by a third party, in-line with the objects of Myanmar Trust UK. These funds are not
recognised as income to the charity and are accounted for as custodian funds and described in the notes lo
the accounts.
Fund accounting
Unrestricted funds can be used in accordan￿ with the charitable objects at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Designated funds form part of unrestricted funds and have been identified as being for particular purposes
by the Trustees. They are not restricted and can be transferred lo general funds at any time at the
discretion of the Trustees.
Further explanation of the nature and purpose of each fund is included in note of the financial slalements.
15

MYANMAR TRUST UK
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
2 Income from donations and grants
Unrestricted Restricted Total Funds
Funds
Funds
2024
Donations and gifts
Grants received
50
50
1,783,747
1,783,747
50
1,783,747
1,783,797
Unrestricted Restricted Total Funds
Funds
Funds
2023
Donations and gifts
Grants received
11,873
1,568,294
11,873
1,572,105
3,811
3,811
1,580,167
1,583,978
3 Income from charitable activities
Unrestrlcted Restrlcted Total Funds Totsl Funds
Funds
Funds
2024
2023
Contract income
95,594
95,594
95,594
95,594
Contract income is similar lo the income from grants, yel is recognised by the charity as income from
charitable activities due to the performance criteria within the agreement.
4 Expenditure on raising funds
Support
Costs
(Note 7)
Direct
Costs
Total Funds
2024
Marketing and fundraising
14,851
4,298
19,149
14,851
4,298
19,149
Support
Costs
(Note 7)
Restated
Dire
Costs
Restated
Total Funds
2023
Restated
Marketing and fundraising
10,326
2,653
12,979
10,326
2,653
12,979
16

MYANMAR TRUST UK
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
5 Expenditure on charitable activities
Direct
Costs
Grant funding Support
of activities
Costs
(Note 7)
Total Funds
2024
(Note 6)
Support forthe people of Myanmar
282,162
1,468,103
120,594
1,870,859
282,162
1,468,103
120,594
1,870,859
Direct
Costs
Restated
Grant funding Support
of activities
Costs
Restated
(Note 7)
Total Funds
2023
(Note 6)
Support for the people of Myanmar
179,428
805,565
58,066
1,043,059
179,428
805,565
58,066
1,043,059
6 Analysis of grants
2024
2023
Restsled
The total grants awarded lo institutions during the year was as follows..
Access to information
Human Rights
Inclusive Civil Society
279,102
342,220
846,781
60,678
276,687
468,200
Total grants commitments rnade in the year
1,468,103
805,565
Myanmar Trust UK has elected to take advantage of the exemption from naming recipient institutions under
the provisions of the SORP for security reasons. The grants to institutions were made to 8912023= 74}
organisations.
Reconciliation of grants payable
2024
2023
Commitments brought forward
Net commitments made in the year
Payments during the year
100,588
1,468,103
11,287,695)
62,838
805,565
1767,8151
Commitments carried fotward within one year
(Note 14)
280,996
100,588
17

MYANMAR TRUST UK
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
7 Support costs
Support costs are allocated be￿een raising funds and charitable activities on the basis of usage.
Support costs, included in note 5, are as follows..
Fundraising
and
publicity
Charitable
Activitigs
Total
2024
Bank charges
Travel and subsistence
Information technology
Staff costs
{Gainllloss on foreign exchange
Office costs
Governance costs
3,435
8,758
3,925
38,677
35,405
1,222
29,172
3,435
8,758
3,925
42,975
35,405
1,222
29,172
4,298
(Note 81
4,298
120,594
124,892
Fundraising
and
publicity
Restated
Charltable
Activities
Restated
Total
2023
Restated
Bank charges
Travel and subsistence
Information technology
Staff costs
{Gainllloss on foreign exchange
Office costs
Govemance costs
4,416
7,171
2,316
23,874
(13,7981
589
33,498
4,416
7,171
2,316
26,527
113,7981
589
33,498
2,653
INol8 81
2,653
58,066
60,719
18

MYANMAR TRUST UK
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
8 Governance costs
Totsl Funds Total Funds
2024
2023
Auditor's fees
for audit ServI￿S
for other services
Accountsncy, legal & professional fees
12,900
2,520
13,752
22,785
10,713
29,172
33,498
9 Net incomel{expenditure) for the year
This is staled after charging=
2024
2023
Auditor's remuneration
for audit servi￿$
for other services
Trustees, travel and meeting expenses
12,900
2,520
276
22,785
2 Trustees have been reimbursed for their out of pocket travel expenses12023'. nil}- No Trustee re￿iVed
any remuneration during the year.
10 Staff costs and numbers
The aggregate payroll costs were..
2024
2023
Wages & salaries
Social security costs
Pension contribLJlions
40,920
26,007
1,040
520
41,960
26,527
No employee received emoluments of more than £60,000.
The average weekly number of employees during the year was 1 12023.- 11, calculated on the basis of
average headcounl. The total employment benefits received by key management personnel including
employer national insurance and employer pension were £41,96012023'. £26,527).
19

MYANMAR TRUST UK
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
11 Taxation
The charity is exempl from corporation tsx on its charitable activities.
12 Statement of Financial Activities comparative figures
Unrestricted Restricted Total Funds
Funds
Funds
2023
Restated
Restated
Restated
For the year ended 30 January 2023
Income from:
Donations and grants
3.811
1,622,686
1,626,497
Total income
3,811
1,622,686
1,626,497
Expenditure on-
Raising funds
Charitable activities
12,979
1,096,361
12,979
1,100,172
3.811
Total expenditure
3,811
1,109,340
1,113,151
Net incomel{expenditure) for the year
and net movement In funds
513,346
513,346
Totsl funds at start of ygar
90,434
90,434
Total funds at end of year
603,780
603,780
13 Debtors
2024
2023
Due in less than one year-
Trade debtors
Prepayments and accrued income
Other debtors
Restated
104,254
1,839
99,702
23,769
1,000
124,471
106,093
20

MYANMAR TRUST UK
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
14 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Grants payable
Accruals and deferred income
Taxation and social security
Other creditors
8,179
280,996
16,380
850
2,647
7,724
100,588
26,528
911
2,586
{Note 61
309,052
138,337
15 Reconclllatlon of net movement In funds to net cash Inflow from operatlng actlvltles
2024
2023
Statement of Financial Aclivilies.. Nel movement in funds
Investment income
Increase in creditors.. current liabilities
Decrease I lincreasel in debtors
3,501
114,1181
170,715
(18,3781
527,940
45,372
1106,0931
Net cash {oufflow)finflow from operating activities
141,720
467,219
16 Analysls of changes in cash during the year
2024
2023
Change
Cash at bank and in hand
Current asset investments
344,082
462,374
650,618
1306,5361
462,374
806,456
650,618
155,838
2023
2022
Change
Cash at bank and in hand
650,618
183,399
467,219
21

MYANMAR TRUST UK
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
17 Movement in funds
For the year ended 31 January 2024
At 31 Jan
2023
At 31 Jan
2024
Income
Expenditure
Transfers
Restricted funds
Foundation for a Just Society
Oak Foundation
Freedom House
National Endowment of
Democracy
Tides Foundation
Crowd Jusliceloak Foundation
Purple Feminist Group
University of Warwick
United Nations Office for
Project se1vi￿s
PACT
309,495
130,899}
6,565
66,621
378,846
565,675
91,136
1334,885)
1551,674}
197,048}
149,768}
353,456
116,8981
653
16,853
231,144
38,848
1684}
12.716}
482,331
1447,316}
137,691 }
126,531 }
199)
1134,799}
266,159
1,157
796
12
116,2121
28,011
2,827
118,587
118,993
1122,563}
13,5701
618,374
1,786,406
1,802,374
602,406
Unrestricted funds
General funds
107,103
187,634}
19,469
107,103
87,634
19,469
Total funds
618,374
1,893,509
11,890,008}
621,875
Restricted funds
Foundation for a Just Society
To support women, girls, and LGBT'S role in the Myanmar democracy movement inside and outside the
country. To keep women, girls, and LGBT individuals safe from slate-sanclioned violence and document
human rights abLJses against these groups so there can be no impunity for the perpetrators. To promote
grassroots level gender-based violence response, recovery, and prevention activities. To improve and
expand grassroots programming on womenlgidslLGBTIQ rights, women's leadership, SRHR, and access
lo justice.
22

MYANMAR TRUST UK
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
17 Movement in funds (continued)
Oak Foundation
To strengthen and support righls-based CSOS engaged in securing human rights for all, and accountable
authorities through the provision of responsive grants, training and technical assistsnce, and ne￿orkIng
support.
Freedom House
To provide grants to local ¢ommunity-based organisalions in Myanmar and Thailand for the protecb'on of
human rights defenders.
National Endowment ofDemoGracy
To empower, connect and protect a new generation of Myanmar scholars, thought leaders and human
rights defenders at risk
Tides Foundation
To advan￿ the rights ofyoung women, girls and LGBTQI people in Myanmar.
Crowd Justice/Oak Foundation
To work with civil society in Myanmar lo fight for justice by holding the Myanmar security forces legally
accountable for human rights abuses.
Purple Feminist Group
To raise awareness of gender-based violence.121 To challenge menstrual tsboos131 To contextualize
feminist literalure.141 To amplify women's and girls, voices through podcasts and wrib'ng.
University of Wanvick
To advance research on the Rare Earth IRE) industry in Myanmar.
United Nations Offi'ce for Project SeNices
Strengthened displaced, vulnerable, and marginalised communities, resilien￿ through direct support and
engagement with the displaced, vulnerable, and marginalised communities, ecosystem along the Thai-
Burma tiorder.
PACT
To provide grants to local community-based organisalions in Myanmar and Thailand lo build community
resilience, cohesion and an inclusive, democratic Myanm8r.
23

MYANMAR TRUST UK
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
17 Movement in funds (continued)
For the year ended 31 January 2023
At 31 Jan
2022
At 31 Jan
2023
Income
Expenditure
Transfers
Restricted funds
Restated
Restated
Restated
Foundation for a Just Society
Oak Foundation
Freedom House
National Endowment of
Democracy
Tides Foundation
Crowd Jusliceloak Foundation
Purple Feminist Group
University ofWaNick
89,434
1,000
303,789
536,576
42,611
94,844
183,728}
1568,475}
136,046}
128.223)
309,495
130,8991
6,565
66,621
494,488
87,849
24,139
1,376
1263,344}
149,001 }
124,823}
14,092}
231,144
38,848
{6841
12,7161
90,434
1,585,672
11,057,732}
618,374
Unrestricted funds
General funds
3,811
13,811 }
3,811
3,811
Total funds
90,434
1,589,483
11,061,543}
618,374
18 Related party transactions
There are no transactions with Iruslees or other related parties other than those disclosed as required by
the SORP elsewhere in the financial stalemenls.
19 Post balance sheet event
After the year-end, Oak Foundation awarded Myanmar trust UK $3.39m towards accountability and civil
society empowerment that will be paid to the Charity over the next three years.
24

MYANMAR TRUST UK
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
20 Prior year restatement
Income and expenditure have been reallocated in the prior-year, not altering the nel position. This affects
the previously slated position below of grant income and grants made as they are taken after this
Additionally, the following changes have occurred due to restating the recognition of two grants and
recognising one fund held as agent rather than the charity's own funds.
2023
As stated
2023
Restated
Adjustment
Grant income
Grants made
11,609,119}
857,173
37,014
151,6081
11,572,105)
805,565
Accounts receivable
Restricted funds
89,660
1603,780}
14,594
114,5941
104,254
1618,3741
21 Funds held as agent
During the year the charity held funds on beh81f of other organisations as follows..
Myanmar Trust UK received funds of £56,535 from Warwick University {2023.. £51,608), payments of
£56,53512023.. £51,608) were made on their behalf. leaving £nil balance at the year-end {2023.. £nill.
Myanmar Trust UK received funds of £16,038 from one other organisation, payments of £16,038 were
made on their behalf, leaving £nil balance at the year-end. Myanmar Trust UK has elected to take
advantage of the exemption from naming the grant making instslution under the provisions of the SORP for
security reasons.
The nature of the agent arrangements are to assist the organisations to provide funds to projects within the
scope of Myanmar Trust UK'S objects overseas.
25