2023-12-31-accounts

¢hortty r•gl•trth nwnber 1192 UPSIDE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

UPSIDE TRUST LEGAL AND ADMINISTRATIVE INFORMATION J Heron SF¥ Clwlty rnwnt 1192936 Prlndw addrM• 14 Buyoy L•nEs Pre5tbury Cheshlre SK104HU ACc￿n￿rtS Fleet Hou8e UnRed lfjrBxii LA11EZ Bank•r¥ 19 Marktrt Street ManrJsler M1 IWR

UPSIDE TRUST coKrEKrs Page S￿em￿lI ofiréndal ath¥AOee 8d8nco shaot Notesto ftE4nthal st8teJTErts 8-12

UPSIDE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED JI DECEMBER 2023 ThotrutheJ Pr￿tIrtthelr amual reylaTrJ fkn8ndal statwnents kjrth•y￿rended 31 Dec¢m￿ 2023. The ffinandal #atfjmets havo been prepThl in arxoTdarte TAilh the p&kaets set oul ni 1 to the ffin8ncig1 tstements crnply the th8rtVs d￿lTErrt. the Ch8rtse8 Acl 2011 •nd"Ac¢MtirYd Reporliro ty Chart Statemert of R￿l￿mended Pr0GJce athlfAt4e lo ¢￿t￿e& wewrvj thw"r in

cth•n¢e ￿1th Finantid Reportin9 &arthrd ￿￿Kable ￿ Ihe UK Reputlic LY Ireland IFRS

1021" leffe(ve 1 20191. Oble¢thts •nd a¢llvllkng 7hé objedN8s ofth• c• wo." . The •fvaruMent0f￿￿2ti . Tho Pr￿￿on ol rèlief lo Ihos• in ravd ty reason of yoth, fmnu•l hardship IY Othr ths•thAnttye, In parbal8r. iitrHJL¢ Iirnitab￿ by: . Promdirq SUFWt ty the way of fv￿Sry to ty98nlsthns de¥elop sknlK t4pbi￿￿e$ t¢en•trAe them to r4rtwte in $￿etya& rn8tvrew￿ respomble IndM<W. imng the aims and oblecuves aTrJ in pbnrNNJ the ot th• tharity. ¥e sh atr)v• inlh• socc￿.0￿￿K and4thilies'.

UPSIDE TRUST TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2023 tharity receNed for year lo 31 Dacern￿r 2023 {2022'. £Nill. In 2021 thè charty )naUon Irorn The Bri9hisld8 Tr￿1 IcMIty number 115￿3> Df £2.￿,C￿ In the fonn of inve8trnort untts. Thg ch￿ty I￿UMIated a pothn ol the Mwestrn￿Is. rtha￿ng cash of £1ei).(K¥)12022.. £24QWOI. caBh wyy J ID fttnd gTantstotrrtfdlo¥lng tsribes." . Masthule - Th• chaTty i¥ based in Ihe ￿￿StOM Cape in Solth Affie4. Magkhu is g $odal Impxt (Mganbation tha¢tsins ￿u￿torS in m8rginab"$&l eomrnunths in Ewty Chikikol D8￿Pment IECDI aThJ eaty leanYvJ slolls. The ot4Bthe of Ihe woiea Upgde ￿ to mthè Mathmub8 unlque Earfy Lesning Programrne IELPI al)￿b]e at mlnlmal tsjst to al Lxmnmunty b35d ECD centrs )d to ewd ttms ogramme ovef IOm8 to reath as children betrfftn Ihe of five years old as wJssiNe throu￿ ECD thIE¥s and orw3Ners. Up8id8 wo￿ad an grant to Ptsthhulo in 2023 to sur4)orta nutr￿On programme fDrtt thllthen in the ECD ￿ntre5 overtheyear. . CAklFED Internati￿81 - The tw i¥ o parFAfrn movem8nt fotsJar¥J on hcw grf5' ￿u(?￿on i d¢llvered. The pr¢ied3 5UPP)rted by tha gAnt tn 2023 ww¢ en eXpar￿lon of th8 dnty$ 8thcd improvemurt Fl8n6 and feedng programmos In rLnl Tanzani8. . Bicydp RelEI . The th•rty gives rLral (t￿Mun￿"¢$ ¥rdunrt lh• C8S8 to educatici alth2re, 8nd that Or￿ wre ¢]ul ol Ihe Pro￿￿￿ 0fr￿tor￿Ma1e tstydos. Th¢ ot4ecbve oftr pr0ieLS%￿th Upstde is to fiJThJ a ￿￿￿41￿￿eAs(0ol P•thershlp in . Opbven Fowdakn . The (hity is bawl Kenya to Jv8rKe Id￿ and suppgrt insS)Jtknns to 8 lJelt8r world. Th8 d)FebVe of the pr¢yaL# with Up$idÈ Is to contyiue to $Lpf( th8 Sc￿Mg EaJes ll Tranth"¢￿5 progrmrre. frjnding UAwersty &￿tY8 8tLklènts. . Lady T Matter8- The charity ts based in SoulhAfrica and is prclmoting ￿￿unICat￿￿ afAiuI l•male ￿prod￿￿ issues to rernDve Ihe tsb￿ of lkns Issue. Thè puw ot thB proie(a 1$ to fvnd the prtim￿n ol ￿Trod proJwJS to glds In g)ulh Atii(¥ gt¥J Smbatrrt and to provid• hytyene and m8nstrual heatth educatw. . Afri> Arniii Alama- Thè d￿rty has esta￿}$￿ 1hTe¢ Eryftsh g￿k￿l9 ￿rnary sthoLIs 8fKI 8 secondery schod as B5 a nLmber of ¥rrational tr8wiing sthot4s In a rur81 of TwnSa to proidè e(Iwdon th)r UTwerwvleged chlldreTh The ob• of tho grnnt i& to supF¥xt a rJ)Iwt of up to eo of the worest thildren in Ihe local. nsr81. TÈroank?n o)mmunrknBS tr) g￿¢ them a Englsh &xtion at Ihdi Be￿)rthry sclwl. . 1th8￿￿e1 LkJht- The dwrity wclks lo improve the livts ￿ the wknerat4e and cfisadvarnaged fami￿8È In andel and lls wJrrtsnfiThJ villages sittJat8d in desert ￿te of Reiaslhan. Inth& Th8 ob2"thF of Ihe F¥viect ¢9 to hjno educatiLYO1 and tr8ining pwramm•s arKJ prtyth sm8H brnrvès to very disad¥artsg thloth tosupporttheiratter#J8n¢e al>th0￿. T￿88 carille6 havo chwabte obJlives n k"newith OLtr obj8th

UPSIDE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 nancthl revi¢w Ddails dthe fiTrabK481 ofts thwity are set out in the acrtsjnts. The Sl¥iomerrt of F￿￿101￿4￿¥es shm Ihe exwdtwe of£282,594l2￿. £7￿.868} (￿nF￿1red to iThx¥ne of£Nil r2trdl' £NIl. in a defii>t of £2tr15Y12022.' £189,868) bebre reoThs¢d ￿n5 on in¥e5tments of£14.864121T￿. £28.55911)9s18ry1 ￿￿liSed wNèsknthlso1£198.893 (2￿￿.. bxsl. Balance SW are inveStm￿ts 01£1,￿2.847 (2022: £1.777.2911. Investrnerts Will h I￿Nda￿] to re￿358 m olgrnnb knthè year£￿ tetsjnd ￿ Mte4. Thè InJstè&È hava oxarnined th8 oper&lJc(￿l and rewtabmd nsks vthith th? ¢thnty tsts$ 8N1 Th8 fint481 risk lacd by the ¢lArty 1$ that crf¥o￿ty In equhl ond knvestrneTrt mwketyduotovrid erI)n￿l0 ccrtiYon& iJquKIty n8k Ks anboipated th be ltrw a5 au a5set$ arE Iraded aThJ the coMrn￿nent to the tnteNentron ty banks and m8th6t feguL?rn has o)nOnu&J to proylde orw tradlng fjn ￿ mwkets Ihe atxlty to bw t¥J sdl 4￿￿e￿ e￿￿"e9 15 anti(￿paled to Gontirwe. The charitys Irylestfft￿ a trlsd in rhathetywtih w figkity hvJh6r trad￿￿ vc4urne& Th& d)arfty man•J8s b)ese A)vestiment rfskg by relaSnirffj expert tth8or8. Tho c&Yty do86 not makè 01 derl¥allves slmllwoJmpt8xfmndal li is the pclLy of¥￿ itharity to mwnl8in 8 resfrrves bal￿￿ (rt£50.orxi. Th• th8rity fre•r•gOr￿ ￿£1.826,245 <3J22.. £1,897.282}. inv•sthi)tpolley The investrnert obiedlve Is to pretwve th8 v8lue ¢ in real tm, in to wmde finds for thJture adivbbès. &Jr Snvesbnert 18 martw by Rothsthld Private Fund manag￿llerrt. and comprises a hclding 01 Jmthtion Urlts in ￿ Glenl¥JnU8y PcrtNo Trust have confide[￿ in our In¥8stsn8nt MarW$ abilrties to h)Jk ouifi¥Kts %•is In èvorth8n9lng financaal mwket4 are 6alF5fied lth thelr current ￿rfOnnancIWrl p rgview quart￿ty. ￿•&1, a)wonmentsl ethka ThP8Ea5 BreciJn5IdW￿j Thln hlen1ji￿'n9 investrn Pl•n$ lorf4kn th8rity VAII r￿eW the (yJttyJmes of tho proj￿ 9Upp￿tsd by gr8nts in 2023. ProvidffB Ihe outcomes Ore ju￿S￿, the aim wii be fiJrth8r 9rant8 to suFwt new woleds Ihese ehwsty ptws in 2024. addbon. over the nèxi 18w yews t￿ dw.ty wl If>)k for add￿onal thartheB b) 8UPPOrt with gr￿ts **re wJi& meettsfJwiV5 objethves

UPSIDE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Upide Trust was rwrated as a CharibL4e kKorFXY8kn Orwisthi {CIOI ￿ 30 Decern￿ 20%) {Ch4rity nurvLw 11929381. The carSty is govwnBd by ts go4wrd"TrJ ijoojmgni daba 21 Dwthl 2020. Th• trustee$ arè FPO￿ted by a res￿￿0Th passed at a ts)n¥en8d math.ng ofthe thArtty truste￿ a poll￿￿ olfve y¢afS. 4li•r Ferfoj tsy may put vw￿9e1veS knvard fcf re4pKKxnb)18nt. Unless cthem agreed by re￿thn of the ￿￿ty trLW a Irustee whD has lorts¥o consorJJbv• t￿m8 may not be ppjwrted for a third term bLrt may be reawKinted on Th)te￿J ofat year. The govern do￿￿nI provith IDr a minimum (l Irusiees. Any￿8 ¢Mr IhB agp ol 18 1$ gligt4¢ ￿ trusieeshlp. Al dodsions are m•18 The of the ¢arity ￿ lo retmr( bMtee& with kr￿0 ar¥1 eY•e￿n￿ r￿eded for efferlive adMini¥Tr￿0n of lh8 CIO. It 15 Intent￿n of tr￿sta@S to meet qU8rtdy in ryder to the strategy wk1 oreBS fDrKthiI y. Day to £18y marWY￿t(￿th• Is d9aled loJam88 Hemn. trujtees 8re gi￿ a tstsikd iTrJucti¢n ￿￿efiT￿j by Iha or9anl88tiork This i￿¥jeS 8 c4y of the con8mu￿￿ and a cwi oftha CIUslat•Sttr￿1èOs, annL￿1 ST￿nt ofac4wnt& fJy and notrustee r8cw•d rem￿er￿jOn in Ik¢ pgrigd. busioas th08eTvoY yew and 4)to of$lgMbxe ofts Statem￿ J Berry JHe S F8ri Apk*o¥•l Approved ty the trttstees and ontsir ￿ha￿ty. Ton Z3 oefA.q•.Eiz

UPSIDE TRUST AccoupifANT8' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDrrED STATUTORY FINANCIAL STATEMENTS OF UPSIDE TRUST FOR THE YEAR ENDED 31 DECEMBER 2023 to asslst you to fijffil ycw d￿e& ￿ the Clwibes kt 2011. we have kYgF•rgJ ts your the fjnanad statemerts of UF6>Je Trust for the yvaf orvjed 31 D9¢fy7thr 2021 the ststernent of financial •>i￿o¢S and the rfgted Thxes from the carWs ￿C￿L￿[wI records anLI from 1nfcqrnob￿ arKI extAanOicffj 9i¥en u& ropryt ts to tho tru#éèS. as a W. In a¢￿)rOan￿￿￿1h the terms ofour en9èjW￿ lter dated 1? MaTL 2tr21 our work has tthi ur¥Jertaken sofety to yepare lor your ap• the fin3ryd￿ statÉrthnts ol d• Trtst slate those matters thatwe have agreed to to Chari￿s tr￿è$, as a W, ￿ Ihis rryort ' I￿Te￿nI(￿l Release 07116AAF. To Ihe lulkst extrnt pe￿lled ty L8w. dornt accept c 8¥wme re8Fxstr4ty fo anyo￿ 0￿￿1h8n Upgid& Tru&tand thè thaltystr￿t6èS as a btr, for orbr Ili5 It ￿ yow d￿Y to er￿e th8t Upde Trust h88 kept ad8qUatè ac£g)unts"NJ ￿c￿rtS and tts prepare st8ttrtw th8rKial 8tstefflerts ttpl gve o bve and tsir ofU assets. Ilabrfibes. fjnarvial Fosriion a￿[ defial of Vpd# TrL&sL Ytsj tr)n￿der that UpNdeTnJsl Is exempt stamtyy rg]LArtrnont fortho yw, and Is not rnqL4red to obta an indyTrJorrt ex8min•rts roFo Wa hAVè Tr)t been knth¢Xed trj w wt Wl 8u¢n or a mY8w Of￿ finantsal statements of Upside TDJ5t For this r•a$on. w¢ have rb)t verifi&J the aC0J￿r¥ or c<MnpkntsJw of lh8 r¥)Yds or iThfcfrnthn and expna￿S you IB¥e giv8n to UE do noL ey9r￿ opinion on 51atuiory ttna￿ FWHou6e Ntr* Road LonL¥5t¢r Untte(I lQngdorn 11EI ..Z&.. o.ct l Lq

UPSIDE TRUST STATEMENT OF FINANCIALACTMTIES INCLUDING INCOME AND EXPENDITURE AccouKr FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 282.594 189, N81gWlb88851 on investrnen 211.557 (235,3591 Net rno¥•mwrtln lunds (71.0371 I42&￿￿ Fwl Wartts at l JanU￿Y 21r23 1.897,282 2.322.509 Fund b•lJnceg at 31 fJ•tembtf 2023 1.828.245 1,897.282 atennt oIfjro￿ol a￿+￿tIeS indudès alpns •nd bsses fectg1iwY li tro yew. All Income aryl expeTvJKure derfve cthlnulTrJ *aiwti"e

UPSIDE TRUST BALANCE SHEEr ASAT31 DECEMBER 2023 Flxed 1,￿2.847 1,7T1.291 Cash all>￿k ond In h 25.678 12e271 Cr￿110￿. arnounts lalllnq du• wknln oney 12280) 12.2 125,*1 Total Aueth lety• Gwff•nt Wablli11•8 1,826,245 1.897282 Unre8lrirAed furtd8 1,828.245 1.897.282 1,828,245 I,W.282 The knndal tht•m•nts wern ap1x￿d bythe on...... . ._. . .. .

UPSIDE TRUST NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 21r23 Ac¢ounUTrJ poNcl•8 ChaTIty Inforn￿lI0n Urlde Trvst 18 a Ctsrtt8trJe Incryrmt&l 0rg8n5S￿￿ IGh8rfty no. 11929381 Th th3rfLY8 arJtre&s ts 14 Buuey Lanes, Prestbwy. macclesfi￿￿. Ctwh"re. SK104HU. 1.1 AGGountln9 ¢onven char￿￿6 2011. FRS 102 FI￿nGla1 R8wbtYJ StarDJard aFpJic4bl& in VK gnd Repu￿￿ of n(r rFRS 1¢m the ChwStigB SORP 'Acc¢wrliry and Rep¢rbng by chii￿.. Stltemerrt 01 R9￿m8th PradR &ppk'tsb18 to th8ri1i88 pr8parin9 8(x¥rdanté wilh IhÈ Finsnfi8E Rem"ro Stsndard applK¥bb in the UK and Republic of Ireland IFRS 1￿2). leffeove 1 Januwy 2019). The <hairty is a Publc e4neft Ertity as defin￿ ty FRS 102 The chaty haB ta￿ 8Ovantag9 of In the SORP tr thwllies ￿1 lo prepare o St•t￿nI of The ffflan¢tal statemwrts ore prep8red ￿ sterfing. Ihe fun(kn181 ￿[rerry ol the dwity. Mor ffi bknthancial SlateMe￿ are r¢Junded to the near￿t £. The ffin8rKial slatements have been preFored historical modEfied lo incJ¢Je r2rtn 12 Golw ¢on¢•m At the tirne L7faFPWryJ tho finwo81 stat￿￿n￿ the Inmtees h￿e a reA8￿t4e eypectation that the clwty has adequate resourc￿ to ojntiwe in oparational exthcé for the thsea2ble fimurè. 1hg ￿￿t0&S ttffjtinue to adoptthe 90ing ¢(r￿M bask8 of xrA)unling In prepariTrJ the finarrAal slatemen la Charltabt•fund Unrestrtcted fund5 are av8labJe fc¢ use at the dKsfJet%on ol ￿ thtstees in ffijrtherOn￿ of thar (arltat4e 1A Incom• Inojmels recwlsed w￿nth8 is entitsy to tt atsrany c(Thims have tr￿en mot. the amounts ean be measured rellalhy. it is irthmeil t T￿1¥9 Cash ¢Yonalons rwThsed on rKeipL othèr donalscffis are r8cogni3&J or￿£ the tharity tss ten nolhled of the don3￿n, uth$5 porfeffi)a￿e w)dthns Tequlre of th• amunL Incorn tay reoJverabl8 relpb'on tD dcffjwtion5 rE￿￿j ￿d￿r GfftAkl or d&ed8 of Ig recO￿sed at￿l[me of th8 drmab"on. 1.8 ExpDndllur• EwndthJre is recognised ortt It￿e is a IW OT C￿StA￿e to tr￿er eC£$no￿￿C benefft to A ihtrd p8rty. iÉ1s prtèst4è that • transfer Of￿￿MiC ban8fi1s win Èe ￿quired n 8dUwnenL and trE arnoLmt of otyKJationcan be rn￿ured reSaFAy. Charilable a¢thillles Tho expefiditttre on thvbt8Nè 8dvlses Ind￿8$ made. o)varna￿ c4J5tsand tsxts. Grart5 p8y4ble I￿ ikbitedto eXpen¢￿ture KI alkuted 8etsvdingtts￿s￿ert￿ oryn8tefrom reBtiicted { unrestrkied fijry￿ Prw5iOn5 lor grarts arè mad8 when the to make 3 grant has ba8n omrnLnitated to Ihe ￿lthere K8 Ury￿rtrd1￿fy a5 tothe timing oflhe grartoram(xJnl ofgrnnt payable. Surwt 8nd go¥￿￿OrKe cwls we fvnclthg ihat 869# thewk (the ctsiity but do dir• crry rArt ctiaritable ac%MlJ'e& Thèse eosts have been alkxèted to tr* ¢hatiW ty thrft8t4a aclmty of gr8 ma￿n9.

UPSIDETrUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR ThIE YEAR ENDED 31 DECEM8ER 2023 A¢¢0￿￿Th￿ potEel¢• 1.6 Flxad a##8t Inv•8lni Ftxed assa iThve5tments Inthy mea8ured al trans8th.on pric ￿dI￿j￿￿j IThr￿ rA8. 8nd are Jbsequenty mea￿￿ at tdir vakne al •ach rowUn9 date. Ghanges in tsir value we rectyJri8J in net inLa)mellex>ndrturel tOTihe year. Trarf•c¢)n costs areexFensed as ￿r)￿rye￿. 1.7 Cash and ¢••h ¢qthalontB Cash and (agh equN8knts indudè tash in t￿. deprhs hdd at b8nk8, olhor liquld Irwe5tTr￿ts wllh ￿YJ￿81 mahKiÉs ol three mcnths or less o¥erthfts. Barth ￿￿ra119 ere show wh¥i borrryTrJty ￿ ￿rrnnt 1A Flnanclal In•lrnrnonts The charity ha8 Io 8ppty ts prNsicns of Sx¥on 11 8a6k FlTranrial 1nltnm￿ts' ￿ Swon 12 'ol￿ Finarwl Irthments IssLS' ofFRS 102to ofita firmrtial instrumeni Flnandd wr#sed kn the dtsrws balart4 sh•81 kn the thority t•thmes pty to the Finarvid ¥sseis and IBtrflliE5 ere dfset, ¥Ath ts net amwrts preswi•J In the IIMnod slrr*rrfs. w￿ft them 1$ a IEgdty •nlorceable rbhtto set olllhe reco9rised amrAnts and i5 lln irrtthbon to a n¢t bw8 (Kto 06setaThJ sdu&th• fiabllty ￿mI￿8OU8￿. fund> Bonkth 2.250 2.1C 1255 2.105 Grarrt I￿(5￿j olacbMb"e918ee noto 3} 2N339 187,763 d.5Y 189.

UPSIDE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Grants pty Unrnsblct•d Unr•Jtsf¢iÈd YJ23 2022 Gr￿ts to Instswnb". 79.fj52 37,523 80.OCXJ 25.OL 16,8 Uaskhut CAMFED kntem0tic￿81 Btcycle Rdiel OW"¥en Fourthl La Talt Mt8rs 8ndel Li9ht 23.2QO 20.￿5 20.¢MO 11288 280.339 187.763 Ewditurtr ￿ grants rdat¢a to ￿r¥Strtthd tund5. Atrica Arrmni Ahrn8. ThE Charty psid £79.e52 to lund lurther lor SbjdE￿ ¢£w￿¢tIOn ol trr Secondtry JLK"on at ￿ knoio otrr AAA sarX￿d8ry $d￿ls in T￿ni0, fvrKI some seu)ndayaJuc4b"on8tth& PamoJ8 &J&ainatle Tourism sthoc4s wr¥ted byAèA akh￿e-The Ctroity paKI £21,1Cl8 to MA￿kh￿e Earfy Leamkng Pro3￿￿8 Ph95e 3 and £16,417 fvrKJ Ihe Ma&khule NutrIfj￿ Programme 2024. CAMFED Intwn"onal - Tr Clwlty p8ld £80,CW to support an of the thaTity's sch￿1 inprovement t48n8 8fKI s￿￿1 feeding prcgr8rnmes in nts81 Targa￿8. Worhj Byde Rd. Tha Ch￿ty £25,OCKlto 8 MotllLqe Cunmunibes in Opbv•n Foundakn-ThE Chanty £16.￿ to fi￿d tl Y•w2 olthe ScariThJ E8gl•s11 Tranthns project L4ty Tak8 Matters- Thè C￿lty pwd £30,000 to lu￿ the wovision of rtrv8at4e Fwbd products k) girfs in SwthAlrta ￿ Jrnb8b￿ and ￿ pr￿1￿9 hygiene and men6trual heath e￿￿tiOn. knand81 Ltqht- ThE CIW p8id£l1.KB toftmd year one orth8 edLThtiLvwJ trarlw None of ￿ t￿￿$t¢8$ {or any Fotsons ¥￿th them) re¢¢wl any rernunerafjon or b8Mffts from thè karity durirgthe yoar. -10-

UPSIDE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONnNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 3va9e fflcffliw nwnbero1wn￿QYeeSlun1vJffieye￿v Number TotrAI There￿￿8 no tsmthaes ths• annual rem￿erab)n￿￿ rncrfe th8n £60,Cth. lund• Rèvakth in¥estrn¢nts G￿￿1￿9$) on ge of I￿￿lMer IgS.693 (206.e&)I 14, r2B,559) 211.557 235.3591 Taxatlon The Lerity is exemofrom tax on and 9&n$ fal￿n9 vithin sedicfi 505 olthe TaxesA¢t 1988 ¢¢ $Jon 252 ofthe TaY2licn ol Charye8ble &inGh£t 1992to the &ktsnlthJt ¥we are AFvl*d to ttts ¢bJèd8. Litsted Gost orvèlu•l¥on Al 1 Ja)uary 2023 Valuthon thangeo C15PUsI 1.771.291 1C£.893 1185,1971 At31 Decwnber 2023 1.802.847 C•rrylng amount At 31 D¢¢¢rnber 2Q23 1.8U1847 11

UPSIDE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR ThIE YEAR ENDED 31 DECEMBER 2023 Cr•dlt¢)rn: am¢)uDl• tlthln on•y•ar kuuals aTrJ defewed in￿e 10 Angh7 of n•tag8•ts between fun UThr•slrlet•d Urtt88lrlet fundg 2023 Fund b￿arts$ at 31 Dacamber 2￿23 are rewesen￿ ty". 1nve8kn￿ts CuNent•s•￿￿(labistl•&I 1.80?.847 23.3 1.771.291 125,991 1.¥28.245 1,897,2V2 11 Rèknted party trnnb&thio Thor• N) rnld pgtytr4nsa(ors durlng period. 12-