Annual Accounts YooJF Path@tr In Gmng. Helping achieve philanthropic EIOD *￿Z660￿¥$ 26103f2025 COIAPANIES HOUSE #IS4 TABLE OF CONTENTS Reports Contacts, officials and advisors...........-..-..-..-.......-........................................... ...... ....... Welcome from the Chair........ What we do..................................................... Trustees. report.............................................-............................................ Strategic report........... ... -13 Statement of trustees. responsibilities... -18 Independent auditor's report.................................................................-..-.-.-..............................19 Financial Statements Statement of financial activities.............................................-...-...-..-..-...................................... 24 Balance sheet.............................................. ..25 Statement of cash flows.......................................................................... . ..26 Accounting policies ................................................................................-.-.-..................................28 Notes to the financial statements..... .33 Atsrtu41 Repori & A¢¢oulll$ 13 CONTACTS, OFFICIALS & ADVISORS Chair Principal Investment Managers Ceris Gardner CazerK)ve Capital 1 London Wall Place Lond EC2Y SAU Trustees (who serwed durin9 fhèyeor tynd ot the date of opprovol of this rekx)rtJ Cèrls Gardner Mary Boatye Richard Cassell Vivièn Gouk Eileen R. Heisman David Rowe OBE partne￿ Capital 5 Young Strèèt Lond V48 SEH UBS 5 Broadgate LoThJon EC2M 2QS Chief Executive Off icer John Canady Compony Number (Engloftd & Wolesj 11542102 Solicitors Withers LLP 20 Old Bai London EC4M 7AN Chority Registration Number (Englond & Wales) 1181128 Registered Address 20 Old Bailey LonLlon EC4M 7AN Independent Auditor RSM UK Audii LLP 25 Farrlngdon Street London EC4A 4AB Principol Address 125 Old Broad Street Suite 610 Lormlon EC2N 1AR Bankers Bank of America NA 2 King Edward Street London EC1A fflQ Anrbual Report & Accounts WELCOME FROM THE CHAIR It Is my sSncere F4easure lo present NPT UKS Trustees, Report ondA¢¢ounts for fistal year 2023124. . Contributions to donor*Jvlsed fund5 were £106.7 million. - Unrestricted assets reached U80.2 million. an increase of 93% from the prlor year. all of which will support qualsfied charities in the UK worl(h¥￿e. Over the pasl year. Communiti￿ and families have faced a now-familiar senes of threat& Confiict continues unabaied in Ukraine. aThJ war now threatens to en9uff thè Middle Eas( with global consequences for food secuiity ond energy supplies. aimate change has fueled 50aring tempèratures and iecord- breaking rainfall. pushing manyvwlnèrab communities lo the breakiThJ point Cor￿emS over irf31ion and dissatisfaaion with the political status quo have shaken incumbent governments in Europe and the US. In the UK. the onwng cost of Iwing cr6is is PLrtting financial strain on familie5 and charities alike as both face increasing COS￿ As ever. our donors have reswnded to these challenges wrth compassion and gefterosty, for which we are grateful. This past year. National Philanthropic Trust UK made grants to morp charitable organi￿tionS than ever before. helping 367 Char￿e5 Since we commenced operations. Increasing phi￿nthrOpY in soclety Is only possib￿ when ￿ collaborate with like- minded peo￿e. l am grateful to National Philanthropic Trust UK'S trustees. stsff, partners armj, most importantly, our 9èfierc￿ donots. Warm regards. Cffis Gardnqf Chulr. Bofjrd of Trv$tee$ Motional Philon¢lwopi¢ Tru$t UK Natlonal PhilanthropK Trust UK promdes donor-advised funds IDAFS) to help do￿T$ svpport the charit*s and causes dosest to their hearts. As a regi5tèrÈd UK tharity, donations to National Philanthrokxc Trust UK are re¢ognise(I for tsx relief in the UK. We reached new milestones in fiscal year 2023124 as we sought to remove barrier5 to high net worth giving.. . Donor-recommended grants were £27 million this fiscal year. bringing the cumulative grants ￿nce inception to £62.4 mlllion. Annual Repori & Accounts I S IN FISCAL YEAR 2023124: NPT UK rnade 585 donor-recommended grants, ranging from £200to £6.7 million NPT UK granted £27 MILLION in total 367 CHARITIES received donor-recommended grants. with donors supporting a wide range of organisations large and small. in the UK and around the world NPT UK made grants to 13 COUNTRIES advised DONOR-ADVISED c. harity. or foundation. philanthropic flexible alternotive administered choritoble trust to Donors establish contri buting grow the assets any time account account charitable donation5 appreciated assets. Donors recommend investments recommend grants c-harities anywhere receive tax relief for donation to Donors donor-advised ADVISED DONATE INVEST GRANT TRUSTEES, REPORT Ll The Trustees Iwho are a150 the dirertors for purposes of Cornpany Lawl present their statutory report wth the financial ststements of NPT UK for the year ended 30 June 2024. The financial 5tstement5 have been prepared in accordance with the ar¢ounting policies and compty wrth the charitable ¢ornpan￿S governlng docurnenc the Companies Aci 2006 and "Accounting and Reporting by Charities Ststement of Recommended Practlce applicable io charlties preparir4J thelr accounts in atcordance with the Financial Reporting Standard applicab￿ in thé UK and Republi¢ of Irelènd IFRS 1021- las t￿nded for accounting periods commencing from l January 20191. NPT UK s mission is to inspire, support and increose charitable giving in society, primorily through choritoble donor-odvised funds IDAFSI, which benefit charities ond voluntory orgonisations in the UK and internotionolly. Annual Report & Account• Mission & Historical Bockground As a Charrtab￿ company limited by guaranteè. every member un¢Jertakes to contribute, rf iequested. a sum not exceedi￿ £1 to contribute to the assets of the Charity while they are a member or wrthin one yeor after they cease to be a member. NPT UK s mission ts to inspre. surwiand increase charria￿e gitr7ro in sooety. kwirnarity thr￿gh ch8ritable DAF ac￿Jnts. wh.ch ber*frt charities and voluntsry Organisati￿￿ in the UK and imematN)nalty. NPT UK was estsblishÉd as a registered eharty in England and Wales in AugL& 2018 by National PhilanihropK TWSL a charrtat4e 501lcll31 organi5alion in the UnrLed Ststes lU.&I in resp￿Se to growng irrterr*iional interest in DAFS. DAFS are a signrficantarKI popular fomi ofgNing in the u.s_ and are grwr#J in populafty in the UK and ￿ other countries around the world. DAFS are unrestrKted ds undèr UK I￿. . The charrvs Sts￿ member is National Philanthroplc TrusL a U.S charitatde 50MeX3) organisalion. Measuring Impoct & Public Benefit As a grantmaklng charlty. proviclirrfJ public benefrt Is at the heart of the eharrty's aciwty. NPT UK seek5 to advancè philanthropy in 50cbety. primarity through the prov15ion of charitsts￿ DAFS. NPT UK makes grants lo tharrfab organizations in the UK arKI around the worfd and does rKJt have any direci relats"onship wth the beneficiaries ofits grantees. as fmds are granted to regtstered Charrt￿ who then use funds for their operational wrposes. Donors to NPT UK can recommend grants frorn their DAF5 to support organi￿tIonS of their choice. provided that such organlsatlons rsue charitable purposes as the term is defined under UK law. NPT UK reviews and must approve all grant recommendations before 6suing the grant and consequently realising the designation. NPT UK alm5to athleve it5 rn155ion In a numbei ofareas.. The Tru5tee5 seek to cèrtTfy that each grant recommer￿ed from a DAF account is in furtheran￿ of a charitable purpose ènd offers an identffiable benefrt to the public or a significant section of the public. Furthermore, any private benefrt that may arise to any person or company as a result Is not more than irKidental. . research and promote DAF5 as a cost. effectwe vehiele forgiving.. * SUPPOrt a broad range Ofdono￿cwOte. Ind￿idUal and CharrtabI￿thr0Ugh the establishment of philanthropic gfviro vehicles: . prowde grantmaking athce, e4Wt"se aTh supportlo donors- Charitable Objectives . maximise d￿atiOnS through grft reccvery and usè of government incenttves pi the US d UK for charitaL4e and The charitable Obje￿1¥eS are to increase the amounts available for chariiable purposes by.. • optimi5e fvrKJ5 fot gr?nt fflakirvJ Ihrough the prudent investrne￿ and stewaTd5hipof charitable donati¢￿5. . encouraglng grving- facilrtating efviÈnt collectiorL investment and rib[ti￿ offunds to minimise overteads Thè TrLtstees have paid due regard to wblc benefit guidance issued by the Chanty CornmissKJn in decidin9 whal acfF￿eS thar￿able c(mpany shoLld uThJertake. maximising eligibilty for tax relief to increase the benefit to charrtable purposes in prowrtIc￿ to the cost.. aThJ . applwng I￿$$e fun(ts raBed in 5UPPOrt of such exclustvely charrta￿e purposes as the TrU￿etS shall from time to time determine. Governing Document The ¢harity is controlled bylts gownirg docurnenL the Artyc￿ ofAswcK4tion, arKI constituted as a company limrted ty guarantee as defined by the Companp5Act 2￿6. Annual Repori & Accoun1$ 19 Fundraising Statement provide any private beneht le.g. payment ofturtion. dues. membèrship fees. benefit tickets or goods bougm at charStsble ionl and NPT UK doe5 not artively solicrl do￿tIOnS and therefore 15 not registered wth the FundraisSng Regulator or subsulbed to any fundraising codes of practice. When donations from ind￿7¢juaIS are recèwèd. thè harity aim5 to protert per59nBI data and never sells dats or swaps data other organisations. During fiscal year 2023124. the charty receNe(J no complalnts aboLrt fundraising actwities. . satisfy arry wlili¢al ¢ontribLrtions or support campaign aclivibes. Chafities aTe notified electronically of grants awarded and grant payments are made electrontcalty. Grant reclpients may or may t 5ubmtt to NPT UK regulav or ONe￿ff progres5 reForts. depending on the nature of the projeL1. the purpose. cOnd￿ons. and terms of the grant and the size ofthÈ grantawarded. Energy & Corbon Reporting NPT UK is committed to I0￿1ng after the" environmeni ant1 is Slriving to become more enèrgy consc4)us with a focus on reducing earbon emissions and the pwomotion of energy efficient actions. NPT UK ￿ exempt from disclosing ener9y ¢onsumption as less than 40,OOOkWh ofenergy was consumed during fiscal year 2023124. Trustees Recrnitment andappointmentof new Trustees At any one tkne. the charty shall have at least three Trustees who meet in person ancl by tdeconference a minimum of three times evèry yèèr and addiknonalty as required. The identification of potential new Trustee5 IS carried oul by the Board of T¥ustees, the aim being to appoint those with the appropriate expertise and expersence for NPT UK'S wor Plons for Future Periods We will contlnue to promote philanthropy in society ty working with donors lo help them effertwely manage their charitab glving. In a¢Jdfjtion to raislng awareness of DAFS with dono¥s. we will also partner with their a¢Jvisors-weaMh Manage￿ tax a¢fvisors. solicftors and estate planners-to ensure advisors are aware of the bellefits of incorporating philanthropy and DAFS into their client discussions. Our effort5 to be a partnér in givino arè all foclsed on increasing charitable giving in the UK and beyond. On agreelng to become a Trustee of the charty. new Trustees are thoroughly briefed their CO*Trustees and key management on the history of the charity. ijay-to-day managemenL respOnsi￿.11tieS of the Trustees, urrenl objectrves and future plans. The Trustees are also encouraged to attend traiThng and update courses. Grantmaking Priorities & Exclusions Registerof Tntstees. Interests In accordance with Company Law and the Charty Commission guidance that charty Trustees and key rnanagement may have a personal interesl in any matter before the Trustees should declare that Interest and in from taking part in any discussion relating to IL A'Register of Tntstees. Interests, is maintainens Our donors ¢ontribuied £106.745.685 In fiscal year 2023r2412022123- £27,492.7621 to NPT UK'S DAF accounts. Wire transfers are the most common method of makiro donations. We have also accepted appreciatens we have formed. . discussed rnatters about non-¢omF4iance with law5 and regulatiorts and how fraud mlght occur. Including assessrnent of FK)W and where the financial Statements may be SU5ceptible to fraud. As a result of these procedure& we conslder the most significant law5 and regulations that have a direct impact on the financial statements are FRS 102. Charities SORP IFRS 1021. Companies Act 2006, charib.es Acl 2011 and the charitsble company's governing document. We performed audit procedures lo detect non amounts falling due within one year 10 168) NEf CURRENf ASSETS 947 8.975 TOTAL NET ASSErs 180.133 93.190 R*pr•s•nted bythe fund5 ofthethorlty. TOTAL FUNDS 180.133 93.190 These accounts were aLrthorised and apwoved by the Trustees on 19 November 2024 and signed on ehalf ofthe Trusiees by. ¢•ris Gllrdner Trustee Annual Repori & Accoun15 1 25 STATEMENT OF CASH FLOWS 30 June 2024 X>24 2023 £￿0 Notes Cwsh Il*)ws from actiT4ltle¥ Net cash prwded by Opern￿4 attmtes 7&741 10.007 Cash flaw5 frorn investing activiti DIV￿endS and interest from Snve5tments 2.312 69.026 (149.340? 178.0101 1,219 24,707 [35,087) (9.1611 Proc¢*ds frw ofkNesknents Puichase of invesirnents. net of excharye gair6 NET CASH USEO BY INVESTING ACTMTIES Chan9e In cash and cash equfvalentS in th* ￿rit Cash and cash eoufvalents atthe begIn￿r￿j of the porting perfo Cash and eash eoUlva￿nts atthe end ol the reportirig period 7.870 7.024 2fj 1 AnDval Report & Accovnts Rewiciliotion of net income to net cosh used in opemting octlvities 2024 £￿00 2023 Net income perthe 5tatem¢rtof fin0￿1￿1 act¥ilies 17,458 Reabsed and UNeal￿e(l ￿1r￿On i￿lMents Oividends and intefftst from invests))ents 14.6491 123121 Il1531 15.0861 kncrea5e in ￿e￿or5 V.1611 15 (De¢re8seYincrease ITh credrto NET CASH PROVIDED 8Y OPERATINGACTIVITIES 78.741 10.¢)07 B. Anotysis of cash ond Msh equivolents Cash at bank and in hand 7,870 7.870 TOTAL CASH AND CASH EOUIVALENrs Anuual Report & Accounts 1 27 ACCOUNTING POLICIES The prSncipal accounling policies adooed, judgements and key sources of ￿lMatIon L￿certaInty in the p¥eparation of the account5 arè described bèlow. Finanoal Reporting Stsndard applicable in the UK and Republic of Iieland IFRS 1021- las amended for accounting periods tornfflencirwJ fram 1 January 20191 Basis of Preporation The eharrty eon*rtutes a public benefit entity as defined by FRS 102. The act(￿nts have been prepared under Ihe hi5tofic41 c05t convention with items Initially recogni5ed at cost or Iransaction value unless Otherwise ststed in the relevant accounting pdicy notes. The accounts are pyesented in stèrfing and are rounded IQ the nea￿$t thousand pound. The accounts have been prepared in accordance with the charity's gove¥ning documents the Compan￿5 Aci 2006 "Accounting and ReportiTrJ by Charits"es- Statement of Recommended Practice applicattle to charities prèpaiing their a¢¢c*unts in a¢¢ordan¢e the 26 1 Annu•l Reptyri & A¢¢oyhi$ Status Income The ¢harity is a private company limited by guarantee and in¢orwrated in EThJland aThJ Wales. The registered office and principal athity are dlsclosed In the Trustees. Rep(YL Income in the fomi of donations is reC￿)niSed in the peri(xl in which the charlty is ent￿e￿ to receipt and the amount can be measured reliably an¢J It is probable that the funds wll be receNed. Income is deferred onty when the charity has to fulfil conditior before becoming entitled to it or when the donor or funder has specified that the income is to be expended in a future ¢ouniing period. Criticol accounting estimates and areas of judgement The most significant areas of Judgment and key assumptions that affect items in V)e accounts are in respect to the v*ue of ajternative invèstments as explained more fully in the policie5 set out on page 28. Altemative investments are recorded al estimated fair value in the absence of readily determined fair values. Managèment's e5timate5 arè èsta￿lS￿Èd from ¥al￿atiOnS provided by the respective funds vthich are based on the reccgnized exchange value of the underlying security. recent transaction value. net asset value or current bid price arKI ale believed io be a rella￿e best esb.mate of fair value. Dwidends eamed on f1xed asset investments are recognised once the div6dend has been declared and notification has been received of the dividend duè. Interest on cash deposhs 15 reco3ni5ed as it is earned. Expenditure Recognition Liabilti*s are recognised as expenditu a5 soon a5 there is a legal or constructive obligatK)n commltbng ihè charity to make a payment to a third party. it is probable that transfer of economic benefits will be required in settlement and the amount oflhe obllgattjn can be measwed reliabty. Going Concern The Trustees have assessed whether tt use of the going concern assumptbon is appropriate in preparing these financial tèments. The Trustees have made this assessment in respect to a peri¢xJ of one year from the date of approval ofthese r1nancial statements. Expenditure ts Include(J in the ststement of financial actiwtses when incurred and indudes attributable VAT which cannot be recovere(J. All experKlilure is accotjnted for on an accruals bast5. Expenditure C(xn￿lseS direct costs and support costs. All ey4)enses are allocated or apporboned to the Fplicable expenthture heading& The Trustees have concluded thèt thèrè are no material uncertaints.es related to events or eondilions that may cast significant doubt on the ability of the charity to conb.nue as a going concefn. This is because the National Philèrrthropic Trust. the charl￿S sole rnember. ha5 donated to NPT UK in support of operating costs and ha5 comrnitled to provide financial support to the extent necessary to enable the charity to continue to pay it5 liatM"lities as tw bècomè due foT a period of at least 12 months from the date of approval of these financial statements. Additionally. the strategy document plans for growth whKh is closety monitored. The Trustees hove concluded that there are no materiol uncertointies reloted to events or conditions thcjt moy cost significant douL)t on the obility of th.p chority to continue os o going concern. Annual Report & Accounr5 1 29 Resources expended comprise the follov•ryn9." Financial Instruments The charitab￿ company applles the provi*on5 of Sèction 11"Basic Financial Inslnjments" and secb.on 12-Other Financhil Instrumerrts Issues" of FRS102 to all of its financial instruments. Financial assets and financial liabiliti.es are recogniseé when the charitable company becomès a paty to the corrtraciual provlsions of thè instrumeni and are offset onty %•then the charrtable company currently has a legalty enforceab￿ right 10 Set off the iecognised amounts and intends 8ther to seitle on a net basi% or to reallse the asset and seiue the liabilty simUMane￿Jsty. . Expènditurè on rnising funds comprise the costs a551Xlated with genefatiThJ donations, fundraising costs arml the fees paid to Investment man8ger5 in conneclion with the management of the charty's investments. It Indudes costs that can be allocated directly to such ￿tivItieS and those indirert costs necessary to support them. . Expenditure on charitable ￿tIvitIeS comprise grants and c05ts of rassing awareness of the charity'5 work and its methods. Grants are inclu¢Jed in the statement of financial aeiiviiies when approved and when the In￿nded reop*nt has either received the funds 01 been Informed of the decision to make the grant an¢J has satisfied all related conditions Grants approved tr*Jt at the end ol the fiscal year are expensed and drsclosed as payable. Grants where the beneficiary has been infome¢J or has to meet certain conditions before grant is released are not 8ccrued for but are noted as financial commitments in the notes lo the accounts Inone at 30 June 20241. Investments sled investments (wlth the exceptlon of FX products and derivatNes. which form an irnmateTial part of investments held and are thèrefore treated the same) are initkilty recognised at transaction value and subsequenlly measured at fair v8lue a5 4t t bala￿e sheet date usirvJ the dosing quoted market pftce. Attemative inV￿Ments. including hedge ftjnds and privétè Èquity funds. are recorded at estimated fair valuè gènèrèlty Èstablished on the basis of the valuations provided ty respective investrnenl managers that deterniine the unit value based on the net asset value of the undertying i￿eStMen . Support costs are those costs which enable fund generation and charstable actiwties to be carried OUL These costs incIL￿e information tecmobgy. prowsion of office services atKI equipment and public relations. Support costs a￿ allocated on the basis of titne spent on these actiwb"es. Monty markw time deposits are fixed term cash dewsits dèsigneo to piovide a higher rate of ¥etum. cannot be freely accessed before fflaturity. They are valued based on the amwnt ofca5h invested. Cash ot bank ond in hond Cash at bank and in hand represènts such accwnts and instruments that are available on demand or have a maturty of less ihan three months from the dèle of acquisitson. Deposiis for more than three months bLrt ￿$S than one year have been disclosed as short term depogts. Cash placed on deposit lor more than one year is disclosed as a fixed asset Snvestment. Reallsed galns lor kisses) in investrnenl assets are calculated as the difference between di5P05al procéèds ar)d their opening carrying value QT their purchase value if acquired subsequent to the fi'rst day of the financial period. Unrealised gains and losses are calculated as the difference b￿￿een the fair valije at the year end and their caiwng value at that date. Reallsed and unrealised investrnènt gains lor losses) are ombined in the statement of financial actiwtie5 and are credite(I lor debited) in the yeaf in vthich they arise. 30 1 Annual Report & AccouDIs FlnanciolAssets Basic financial assets. including trade debtOFS and othef dethors lincluding accrued incofflel which are recewable wthin one year and which do nol consiilute a financing transaction are initially measured aithe transaction price and subsequenty mea5ure(J at amortised cost. being Ihe transaction price less any arnounts 5eltled and any Impalrment Sos5e . therè is an expectation from the donor that these funds wll be used in line wth their recommendation5. . in the ordinary course of bu51ness, there 15 M expèctation that these funds wlll be used for ￿Y purkw)ses other than orv4ard distribthion and a5SOCiated administratNe costs. Toxation NPT UK is a reg6tered charty and ès such its irKome ond gair6 falling within Sections 47110 489 of the Corporation Tax Act 2010 or Section 256 ofthe Taxalion of Char9eèb Gains Aci 1992 are exempt from corporali tax to the e￿ent thai they are applied to it5 charitable objectNes. Accoidingly, no provision for eurreni or deferred taxatl¢thi Is considered n¢¢Èssary. Where the arrangement with a debtor constitutes a financiTrJ transaction. the debior is inttsally measured at the present value of fLrtLsre payments dlscountecl at a markèt rate of interest for a similar debt instrument arKI subsequently measured at amorb5ed cost. FlncnclalLlobllllles BasK financial liabilities. inchJdiTrJ trade and other payab￿, are Initièlly recognised ai transaction price unless thè arrangèmènt constitutes a financing transaction. where the debl Instrument is measLsred at the present value of the future payments discounted at a market rate of Interest. Value Added Tax Value Added Tax is not recoverable by the hafty and as such is included in the relevant costs in the statement of financial actwities. Debt instruments are subsequenty carried at amortised cosL using the effective interest rate method. Fund Accounting All unresiritted funds are availabk for use at the discretion of thè Trustèes in furtherance of the general obj'ectives of the charity. Trustees conslder that fun¢Js held by NPT UK in donor-adwsed funds pending recommendation for onward distribLFlion to third party charities are classified a5 designaled within unreslricled funds. However. the Trustees note the fdlowng: Repori & A¢tount$ 1 31 l J(If NOTES TO THE FINANCIAL STATEMENTS 30 June 2024 l. Doiiotions to givity l￿d$ 2024 X•23 £'ooo Monles recdved as dornations to Donor-Athised FI￿ts IDAFS) (Unrestricted funds) 106.746 27.493 106.746 27.493 2. Investment income LI￿t0 and unlistetl imiesbnents 1.590 976 Interest on cash held as part of invesiment wrtfdio 722 243 2.312 1,219 Investment income was wholty unrestricied in both years. 3. Tottil expenditure Chartsble 2024 Total Funds 2023 Tow Fund5 £￿00 Fu Dlr•rtCQ515 Grants (al Allocated supwrtC05ts Other 27.OL 27.IXIO 16.238 299 Govwnance c05t5 Icl TOTAL 104 27.113 27.485 16,986 Annual RepDri & Accounts 133 laj Gronts 2024 £Doo Education 7.036 6.152 1.260 General ¢haritat4e 0rvrti￿ts0n$ Soci81 weffare 744 5.021 The Arts 2.454 972 1.351 Medicine and hej 1.092 959 Nature and Ihe environmenl 731 Relltyon International 123 27.000 16.238 The following instrtutions recLyved totsl grants which are considèred to be material In the context of NPT UK'S expendrture for the year encle(J 30 June 2024. Grants arè not made to intlNKluals. 2024 £'ooo UBS UK ￿n￿r.A￿v1Sed FoufidatK)n 6.741 3.419 Alawn Foundatfjon lor D￿et￿rne￿t Yole UnNer5ty UT Foundatk)n UK Limited 2,513 1.575 Prlnceton Chairtable Foundation LTD 1.410 Qthergtants less than £1M 11.342 27.000 The following institLrtions received t￿al grants which are consdered to be material in the context of NPT UK'S éxpènditurè for thé year èThYed 30 Jufiè 2023_ Grants are not made to individuals. 2023 £￿00 1851 Marine Trust 1.469 Yale University UT Foundation UK Lirnited 815 knpetus- The fv￿ale Equty FouThJatlon Fthyllls T￿kwell M¢￿0￿￿ Hosp1￿ LTD 5tstut PaAeur Paifj5 620 Alawn Foundatic￿ for Develwnent Other gtsnts less than £IM 600 9.833 16.238 34 1 Annual Report & Accovn¢s Ibl Allocoted svpport costs Support costs are allocated based on time spent ￿ ac￿￿tle (¢1 Governonce costs Goveinance costs comprised: 2024 £'ooo 2023 £Doo Twustee5' grants expenses Legal expenses Accountsncy and audit fees 45 28 104 Idl Comporotive infornmrtion Comparative inforfflaiion fortotal expenditure is as follty¥s.' X)23 Total Funds £'o¢J) Ralsing lunds ChaThtable artNrties 326 16,660 16,986 4. Net movemènt In funds This Is ststed after Charg￿g= 2024 rooo 2023 £'ooo Aud6tor's remvreration 16 Accourtancy fees Annual Report & Accounrs 1 35 & Key rnonogement personnel The key management personnel durin9 the year were the Trustees arKI the Ch*f Executive ¢Jficer. The total cost of employment ofthe key management personnel fi￿1[￿J1fig empwrfs national Insuran￿ and nsion contributions) are incurred by NPT Transatlaniic LiM￿led as governed tythe Sèmce agreement with NPT UK and adequately disc105ed in the Kcounts of NPT TransaVantic Llmited. 6. Trustees. remvnerotion ond expenses No trustee received any remuneratKJn from the tharty for their sefyices. One trustee (Vi￿en Gould) was relmbursed £338 for expenses from the charity related 10 tru￿ee meeting travel expenses in 20231202412022123.. £nlll. 7. Taxotion NPT UK is a regisièred charity and therefore is not lia￿e to cory)0rat￿In tsx on inc¢)me derived from its charr(•ble activities. or on irKorne and gain5 arising from irwestrnenL as it falls within the varlous exerwytyons availab￿ to registered Charities. 8. Investments 2024 rooo 2023 £'ooo MAvkèt Valu• tt1 July A￿d￿on5 at C05t 84.215 9.32S 6&749 35.087 Dlsposals al rnarket val 0261 P4.707) Uniealised exchange gakis Net realised and unrealised gains IMRKET VALUEAT30JUNE 4.649 5,086 169.186 84.215 Inve5trnents at market value Cr￿prIsed.. UK O¥etsèbs 2024 Tot•1 2023 Total £'ooo £'ooo Accounts and Investments on cal I2.(￿15 10.217 59320 7.519 IA94 3.152 911 Money marketlime *J¢posi sted IrNestments 10.217 59.320 16.968 .Bonds 7.519 47,584 30.647 4.116 Mutts asset fur*Js 47.584 29.998 29.070 Alterna￿Ve SnvestrDents 49 30.598 136.694 32.492 169.186 84.215 ISTORICAL COST OF INVESTMENTS 79,271 36 1 Annuol R¢ptsrl It A¢couill$ 9. Debtors 2024 Total Funds 2023 Total ￿ndS Debiors 1.263 10. Credltors: amovnts falliNJ the within one yeor X124 Total Funds £'ooo 2023 Tt>tal Fur￿$ £'ooo Purchase ledger balances Auditfee and ac¢rued expenses Dje to National PhilanthfopK Trust 23 22 132 158 11. Fimnciol instruments 2024 £￿00 2023 CarrylThJ amount of f￿ancIN1 •ssets Instwments measured * fair¥ahJe 169.186 84.215 12. Movement in fvnds Reatsed & B•lance 85 at Unrealised 30 June 2024 9￿r&£DO0 asa11Ju I￿orne ExFer¢i￿re t'ooo Uniestricled operobThJ fvnd5 Unrestricted DAF lunds 495 P411 127.2211 P7.4621 92.695 109.252 4.649 179.375 180.133 93.190 109.756 4.649 Real￿ed & Balaftte as at Urwealised 30 June 2023 gawtsroc(s asatlJ $22r(oo ÉxFWj￿re ¢￿00 Unrestlcted cperabrKJ fiJnd5 Unrestyi¢ted DAF fthids 179 537 122• 116.7651 06.9861 75.553 28.821 5.086 92,695 93.190 75.732 29.358 S,086 Unrestricted opeiating funds can be applied icwards fulfilling NPT UK'S charitable purposes and actlviti Unrestrlcted DAF fvnds are designatÈd funds wh￿h are expected 10 be awied as soon asapprowiate charitable grant recommendatiors are HJeniified and approved. Artilual Reporr & A¢¢oun15 1 37 13. Anolysis of net ossets between funds 2024 Totsl Funds EY)00 2023 Tot* Fund5 £Doo Fixed assets 169.186 84.215 Current assets .ois 9.133 Current 1iatsl￿eS 11581 93.190 14. Reloted party tronsoctions Purchases of £68.75012022123- £58.2501 were fflade from the National Phllanthroplc Trust In respect of operating expenses. At 30 June 2024 £6.00012022123- £4.5001 was owed lo the National Philanthrop￿ Trust. There was one trustee reimbursed £338 foi trustee meetings and travel related expenses. 38 1 Annual Rep•ii & Ac¢oytti$