Chgrlty rng18tr4ll•n •Mwnber 1112938 UPSIDE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMEpif8 FOR THE YEAR ENDED 31 DECEMBER 2024 UPSIDE TRUST LEGAL AND ADMINISTrATIVE INFORMATION JB8 J Herun SFa Chartty 11W2938 Prfn¢lwl •ddm• 14 WbyLon Pr•61bury Chgshtrg SK104HU Float l&)uso Lan￿$t￿r Uftitod Kingthm LA1 IEZ Rank N8lWvBt Bank plo 19 ma￿$1 Strgel Maneh•¥t M111IIR UPSIDE TRUST CONTENTS Stst•m•MofffiMrdal a¢tfvMt85 eaL*nc• sheet 7.11 UPSIDE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEIIBER 2024 The flrW￿a1 8t*menl* bean pr￿￿1 In *xLYdarnx TAllh th8 Oct￿n11ng Fddg8 8et txrt In note 1 to the nar￿1 statamants and ￿)Mpty with th? thrW# ￿￿¥•mIng (ILNxm￿nL ts c￿ntio$ Acl 2011 and"Attwn¥Tr9 an¢J Rwrtlnq by Charrts96'. St8tem8rt crf R91￿￿￿￿8ndOd PrEdt¢• aptht49 tr* t*ar1ti88 prwng thdr aG(ounts k) act47rd￿ce t•Ath ts FlrAncJg1 RepJUTrJ Standard 8pplkn8bl& In the UK ar￿ RO￿￿lIC of tr•tand IFRS 102). laffa￿l¥$ l Jar￿ary 2019). ObJo¢tlv•8 and &GtMtIoB Th? obSeLkn ofth& thaTIty . Thg provlsK*n ol relW to Ihos• in noed by reagon <1 yryjth, fin￿CIal hard8hW or oth•r d*advar*. In Pgmwlar, but vAttp)ut Ilmtslky* by.. . Pmvldlro supFt)rt by lh8 way cl ￿nI lunthng to oryAnla•lloM d￿￿0P th* and t*pgbHrfbe8 to 0￿bla thern to in mabjrg and rn8pwlbkn InI￿d￿kn, . Rol￿￿9 unwnployTh8nL The twst•es that thay havg rnfernd to thè CIErty ConMnL%5ton 9gnernl wldancé on rAJbXc t•nefft Wh rgvfg*lng ￿ dwrtiY8 alm8 objethes and In planrring th I￿r¢ xUvllle8 01 Ihw dwlty. •r• $lvy•m The rtharfty ￿rthd no uKome tor the ￿r 10 31 De¢gft*er 2024120￿. £Nil). In 2021 thrity r￿• donalon from Th¢ Brightskla Thid (Charfty nurnt*r 11699931 of £2.268.000 in th fonn of invosknent unhs. Thè ¢harfty Iq￿da￿ a wrtton of tha kn¥98tro•nts, rnI•881r￿ cash of e&s0.(KIo (2023.. £180,OL￿1N ThIB cash wa6 party to fur¥J ￿aThts to th8 foJlLwlwJ dwrflkn.. . Maslthule . chanty IB b88ed kn tho W8918m C8p8 in Soth Afr¥x. Ma81khul• Js o eod81 Impact organlsalon Ihat tralns edU￿torS In rnwglnalw Earfy ChftthcK)J D8VelOpn￿ IECD) and earty Jaarrkng sk1118. Upshlè wThv h88 2 acbve mrnmme8 wllh Ma￿k1￿￿&. Tho first proiect is to md(¢ u￿qu￿ Ewty Leammw Pmgrpmnx IELPI 8c*xsdbkn at mthlrnd ¢ost to all cornmuntty baeed ECD c*nlrns and to wand INS pro9rwnmg ovwlme to r8#th 88 rn￿Y bets¥e8n the ag•¥ oft* and fv8 yeBr8 okl as ttWO￿ ECD ed￿atorS and ￿1*￿15. Thg 58&)nd pr(￿￿ Is to fiMd the Maslkth4Je Nulrttp)n P￿￿mma. . CAMFEO Intsmationol . Tho tharlty 19 a movement Ibx glrt¢ wlucatscfi Is dollvwed. Th proJa6ts 8upport￿ by the grnrt in 2024 thwg of a a(*￿ pro1￿* In In*oL nd to ID kYo¥kl8 rnspcffl8fv8 supp(Ytto e*dtdron ffj Zambla. . World Blwcle R•llef . glv•s ruY81 ￿11￿1 th8 *YJrld at¢*ss to 4duc*¥on. of y881¥ project wAth Up$ld018 to hjnd a Mobllls• Asthcol PartnOts￿P In Kenya. . Oplv•n F￿ndat￿n . Th? ba8ed Kenya to ats*anco Ideas and Sup[￿ in8lW¢w to wonKAe A better wtrffd. The ct48cUve of WDJect whth Up4ts tu e<>ntlrnre to 8UA)Orf th• So8FNVJ E￿leS 11 Tr￿n￿tiOnS prTr3mmmo. fundhg unNersty and ￿￿696 s￿dents. . Lady Talk Matters- The chty 1$ twe(I In SoLrth Afrtca and 18 frtUS8d on eommun*aOon atvJt femolB Fvwoduclfv8 *sug$ to romove the tabo) ol lh* The pwposo of the pr(*ct L8 tr* fvnd of r&uaablè prod￿ts to 9ltl8 In 8outh Afrlog and ond to proybjts hygtho and mw)&￿1 Iwmlt educatlon. . Afflca Amlnl Aama . Tho tharfty has esta￿lShed Ewbh 8F*ikJng prtmary and a 8•¢thdary 8¢hool as wel us 8 numbar of %fftathonol 8thLth In a YUMI of T¥roanla tr) sxovldg 9dl￿11)n undeTpri¥ileged thwrnn. The cknjectlve of tha grdrrt IB to 6UPFQrt a ol up to 80 of the cttldren In the thal. Nral. Tanzank•n corr￿￿n￿$ tt> gtve thern ¥ rounded, EngO$h SI￿ng gjucathj) at hlelr secondary sc*K)d. In 2024 I1￿? W88 en addllh)nal to fiJKI th& tsjirdi￿ of 8 new fw8' d¢ymltory tdcd( al IQIn￿ Aoricuknral Sc*cd and thè purdw8 of o tr•th* awwj sc¢os•0th knAmknl Ewth Pr*c* (ofwhkth Kllrn Sthooj Is oro}. Tlwg ¢Jwrflle8 hav• *cli¥es MI￿¥ UPSIDE TRUST TRUSTEES. REPORT (CONTINUED) FOR ThIE YEAR ENDED 31 DECEMBER 2024 Fkn•thl r Del•ffs rlthefin*￿8l ofthe Cha￿ ¢01 out hi tho Th• Ststsmont of FlnendalAdrth the chty hod gxpeThJlturn of￿926512023.' £282,594) ￿ to Komo of £Nil120Za: £NUI, ￿sUr￿l¥j In 8 dofidl of £369.2851202&. £282,594) realls8d gakns on Invesbm of£33,395 {2W: £14.8641 ond ￿re8118￿1 0oTrbon Invknwts crf£98.15912023'. £196.6931. In thè Balan￿ Sl*gt are knbwtment8 of £1.384AOI 12023.. £IW2,847). Inv•8trAenls wlth bp ￿UkI0ted to rel8888 h a8 aThJ whpn the d￿rity n￿sfurth￿(und￿. An angw ofgmnts pald In the ¢un t* knnd on 3. Th• hav• exarnln•d tho m*r strateg< op￿10n￿l and répuL4llond tho ¢*• f¥LX ar The min fin•nd81 rfsktswl bylh• tharity 18 that olwJl8I¥ty In egutty m8rkats and 1nve8tsy￿l morkots rjue to ￿der 0¢¥)￿￿￿C c¥)ndlb¢m. LlqullNy rhk IB andeip*téd to be h)w 88 all a680ts •p trnded gnd Ihb conrtment to th• by wrtral b8nk# and mathat reQu￿orn h88 ¢ontlnued to provkle for LYdoAy tradir4J In thè rnark￿ 80 ts 8bllty to W and quoted s¢wttks and stottk is anYrJpatod *) conllnu&. Tha th&rW$ Investrr￿ts troded In ma￿ets wlth good Iquldty ¥nd hhJh8r trad1￿ Inlumg9. The c*Brlty manages th•sè inv8$1mont iisks by r•tslnlng •xwt th18or& Th• thai*y do￿ nol rnke uy• of dcrivatlves and com*x IlnanBlel It Is thg ofth? ¢harftyto a mlnlmwn M8grveB baenc• rf£50.IMIO. Thè d*rfty ha8 fr•8 r8S8rvas of £1.588,514 (2023: £1.8282451. The Ubvestment L8 to preseNe the ￿lue of Lzwtsl kn rnal tems, lft order to wowde knd¥ for ffij￿r￿ a￿￿t￿$. Our hNesbm&nt k8 managed by Rothschlld Prfv8te Fund Man8g8M￿( and Comprises s hohjing c AcCumu￿b￿n Untls In Y)e fknhuth Portfolio Tntst. We hpve c£rf¥J8nce in our In4ryTrsknonl Mang8ts obll(tsB to look after ow fvnds wls•ty kn gver changlng fimrK4al markth and sattsffèd wlth thelr t￿r￿t perfmw¢4 ￿kh wo r￿q￿rteTty. Sod•l. &Th￿rt￿Ments1 ond 911￿1 Inycts arn tt*nsthred vthen hw•atm•nts. Plan8 forluthr• p•rlod• The tharfty ￿¥[9￿ tho OLrttsrn of tho prol•th 6UFVOrtod by grants In 21J24. Provldhig tho fArtcoms or• sutt*sful. th• alm WHI bg to prowd• furfh8r grnnts to SUPPDrt preSed8 wlth th8￿ tharty pqth8rs In 2tr25. In addttion. ov¢r the nexi y￿* thD chorty ¥￿1 IC￿ *Jr addrtwywl dwrI￿9 ty suppvrt grnNa *fitrv rKoiv¢ts M0￿ thg charftys objqdW. UPSIDE TRUST TRU8TEES' REPORT (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 u￿￿0 WA9 M(¥y￿¥8t8d as a ¢hW6tab￿ InrwcKakn (CJO) on 30 08c*mbbr 2020 {Charlty bymnber 11V29381. The￿rtty1$ gov•ir*d by Its wwwnlng (b>wmgn( datad 21 D8L¥rnt*r2tr20. lor e ￿0d ofllve yearg, after whlth wlod IW may pui them¥dves forwafd for wfft)Intmnt. Unles6 OtheNA88 sgrth1 by r8whJtion oftho tmstoos, a Charlty tru4tso who has Ser￿d for kn consèath terms may Mt f•appc4nt8d *Jr 8 ecqnoutht•rm tsjt m8y be rea￿￿nI￿a aftor an tnt8tV81 ofAt laa6t 5•8f. The g)veml do￿￿nI pYovkJ8s lor 8 M1￿muM of Il¥ee tr￿tea8. AnyoT* th• agtr of 18 Is •llglt48 for tntstosshlp. •im of Ihg Itsity is tr) re¢¥utt trust•8s ¥hth skllk, k￿￿edge and trxpwl?r￿ needed for th8 ￿(8¢￿¥0 adrnln1stra1c￿ ol the CIO. It 16 tho Irrtwrtlon of tntst•8s to meet quartety In order k* dlwJ6s ¥ts*gy 8a*for acb*ty. Day today marw9wwJnt ofthè thaity Is dè*aled kj James Heron. N8w tru8to88 ore a d8IBil￿ inducbon trrflèfing by ￿ oroanlsallon. Thls Indude8 th• Con8t￿on and a (wy Clo* WtrU8tW' 8nnud (epcrft ond statement claC￿unt& The trust808 1))nstder that th Iho InAto8s lh• k8y rn¥*g•￿ payaonnel. The trustee& Iho* ￿mI free￿ and nolrvst80 T•rnunetaUcn 99th￿. The trustees who 60rwJ durbu the ypar and ￿t0 the date Dfsiwalurn 0ftr￿ fmndal 81*omorf8 wore.. J B8try 8 Farr Approval 4Owroved ty the truBt•o¥ And ¥lgnsd on IM*b•htlfty. Trvsts• UPSIDE TRUST ACCOUNTANTS. REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF UPSIDE TRUST FOR THE YEAR ENDED 31 DECEMBER 2024 ordor to wist ytyJ to ywr undw thè Ch¥nlg• knt 2011, ￿ hw• pr•par•d lor your appmal I fin$ncial 8tatements (l UpskJ& Trust for year ended 31 2024, whlth comprt88 the 6talorngllt of finandBI acJvlUeB and reL*ed n(th frorn the rtcords And ThL8 le￿)rtIS to Il* clKW8 InMte88. as a boty. In acoxd8Ke ¥Ath the terns d ow•wemnt ￿ttfjr dthl Sept•mbw 2025. Our th has boen ur#lartaken solely to fryr >wr woval Iho lln8nci818tstsmonts of UFddo Th8t and slab thos¥ matter¥ thot w• IL•v• •9ro•d to stat• to th• trustew 08 • W. in thK8 rwrt acONdan￿ wlth ICAEWTochni￿I Rel8a8e 07116 AAF. To the fitlkngt extent pwmittgd by Lgw, ￿ thlnot aC¢XFI or a88LTh8 I•ÈF¥)nsH>lllty kn anyone othwthan Upskl& and th• rt￿r￿s tN*88 as a bcrtty. wnrk orfor thl It b wur duty to ensuro Ihat Upsldè Tr￿t ha ktyl adoqu&to 8mntlrKJ dnd to prepJr• stottrtw )Inavwl Itstements that we 8 In* And falr ¥kn of tha ass•ts. Ilabllth4 flnanclal poslkn aTrJ defidt of Up61de Tfi￿t. You ¢th￿d￿r Ih8t Up81de Tnjotlg ￿fflpt from tha thttrtory a￿lIt rwtrÈmÈnt lor th& swr. and IB ryjl rEquvgd lo obldn Wo h8N• Th)t b88n kn8bwle¢l to Out Én (Y a revlew ol th• frAnd41 Statem￿ ol UpBlde Tru$L F¢¥ INJ rn•son, w• hÈve not verif￿1 ￿ a￿ul￿Y {* Camp￿t*￿$S of Iha Kcour*lr¥ rn¢ord6 (* Infomi8lbJn aThJ •xgIAn8llon$ you glven Io u8 and ￿ do no( th8rnforn. •xkw #rw opknkjn on th• slaw New Road LA11EZ UPSIDE TRUST STATEMENT OF FINANCIALACTMTIES INCLUDING INCOME APID EXPENDrruRE ACCOUNT FOR ThIE YEAR ENDED 31 DECEMBER 2024 UnY••trl¢t•d Unr•*trktod funds fundl harftabfe ActN 389.2&5 282,594 131.664 211,S57 N•tmowoThJ* In fuTrd• 1237.731) (71.OYn FurKS bal•nr4B at l J8nuary 2024 1.826245 1,897.282 Fund bmknncw al 31 D•¢•mb•r2024 1.568￿14 1,826345 Th8 st•knwl of Ikwi¢i81 a¢bviliBs Incluth 91 swwj h)s888 In thé year. Al Ineomg oyndltur• d¥wgfrom c4rdIn[￿ryJ •AMlle& UP81DE TRUST BALANCE SHEEr ASAT31 DECEIABER 2024 2023 1.384.401 10tr2.847 Cun*nt a￿•ts Cash at bwk and In haThJ 205.211 Cr•dtorn: •mDunlshllibvJ du•wlthln 11.098) (2.2WI 204.113 23.398 Totsl ass•to I•￿ ￿ll•nt l•blld 1,584514 1.82634S 1.$88.514 Im8.245 1,588.514 1,82fj245 Th8 lknarthl 6lat8moni8 epproved bytho Tnthe8 (￿..1￿.. oL.Tip.fyf ft 2¢JZS UPSIDE TRUST NOTES TO THE FINANCIAL STATEMEKrs FOR ThIE YEAR ENDED 31 DECEM8ER 2024 Ch•rfty Ihfonnallon Up8tdo Tru¥t a chattab￿ Incorptyknj Organl8aYon (Charlty nD. 11929381. Thg dwiV8 &*Sresg 55 14 Jugy Lartes. Prnstbury, Ma(4esfield, Ch8sh*4 SKIO 4HU. 1.1 *ountkng con¥•nllon Thè firwncial Ststs1￿￿J hgw twi prepar•d tn ocwrd4nc• *lth the goyernhig doctmiont, Charil•s At# 2011, FRS 102 Tr FInona￿ ReFQrtln9 Stan&rd appl1o￿O In the UK R¢pubfK lyel8￿￿. fFRS 10ri the Ch•rfUp$ SORP "Ac¢¢￿tIng ReF￿￿g by CharilJ88'. 8tst&mnt R¢￿11¥nOn(l0d Pra￿1￿ appllc4bb to tharfll¥g prepwJrvJ th8k S9￿•nts in accordoncfj wlth Iho Flnanclal ReporUbY4 Standard In Ihe UK arKI Reput4c rf (FRS 102Y lelTecM 1 J*wary 2Q191. The tharlty is A PublK Benefft Wy as defln8d by FRS 102. Thg charty l*en advan1#99 of Iho wth48lonB tn tho SORP tr L*&rHl•g not to PrnF•rn a Slalmprt of The Iknonthl statom8nl8 prepared In 8t¢ffjnth 18 the funthx￿I w1￿cY of chrfty. Mrrntsry omowts Ilnand818latements r(wndod to th8 n•9￿1 £ Thè 8lat8m8nl8 have t*8n prèpared undw the hi￿0￿1 cc%t ￿nvenkn. to I￿￿de ffinandal 1n81rum￿IF at falrvakn•. The kthc4p81 aoJ)unJr¥ pthlos ￿0p￿￿ arn sat ertrt below. 12 ¢3olw coTrc•m At tho 11rn9 of approvkn9 the fironcf81 stotemonts. the trlth have a masorth ex￿1} Ihat the dBrlty has ad4uate resourc8$ lo ¢*ntinue In 8¥JEtgn¢8 f¢r the fOre$￿￿e luture. Thug the tr Iunuo to adopt tho gdng Qf4cwunl￿ In F¢8paring tho financial statgrn 13 C￿r11th fund• Unreslrfded 4r• aval￿b￿ fLY ule at dl8¢r•tlcffj of th8 In Ivthfjrnr￿ ol lh* &larlt•bl• 1A Incon comg J¥ VA￿ntho charlty is1o&•lty enlll8tt to It after any perbmianL* condlt*rn havo b8•n me( th04￿￿1￿rrt8 I￿n bg m￿8￿￿ rew. aTh1 ft Is pmb8bl&lhwt t￿c￿• VAII bB Ca6h Ic#Mtiorffj ?ro recogn45gd M re¢elpl. ot￿r don81th8 are ieoJoni88d once thu charlty has ts9￿ nthd of the don81KJn. unlots pvtormance L))ndibons requlrè dofeffal of the arn￿nt. Income l&x rnoMr8bJe in rnlauon to (kjnakns rKgJv•d under GhlAbJ or deed8 of coven8rt l¥ rewn15ed 8tth• timv oftha thalion. 1S Exp•ndllurg Exp&ndltvrn 1$ f0CCgnls•d OTW thorn 11 a or o)Mtrutho obNg8llon to transfer econom￿ b•n•fft thkd paty. prthbkn that a tr￿Stsr of ecoNrt b•n•frts wlll ba wu*wJ In 8ettPomenL 4nd Iho ar￿jnI rf Iho oNlgaUon ron t¢ rrnBEured rdlotsly. Charft•blo Xllvltl•s ex￿dI1￿￿e cherltablè PL*NIb￿ incltxl88 grnnts madg. gowmanca and 8UPF#M L¥Jgts. Qmts ￿Yobl0 8r& debK&J to expend¢bJre and èllocated 8ca¥diro to VA￿thefth&Y orblnat8 from rnstrfctgd or unrethc*ed lunds. ProviskTh for aré made V*tben the Int&nUon to makg a grant ￿ been (￿Thi￿t•￿ kn Iho red*nt bul IB unc•rtaknty as to th• tjmlng ollhg grant or8mount ofgrnnt payabk. Swort •nd govemNnce cests Bre th￿¥ fvnclions thot IhB MJrk of th? charfty but do ryJt dlrecty carry t thorttAblg ThaG• L¥)St6 havg begn allo¢a￿d to th* onty tharf1*4È •dlvlty ol want UPSIDE TRUST NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 A¢¢￿ pglkl•s {ct￿lIn￿d) F￿j asset invtherts are inrfi&ly moawr•d at transg¢kn prfL¥ oXdth￿nQ Iron8￿ti￿ co8ts, and o bB8oJ8nty mwurgJ at f8lr at rewting dal8. Changos in far vakn aro m(¥Jgnixd In ng1 omdl•xp8ndthrro1 trth&yw. Trww¢th)n ¢oBts ore exp8n8•d as 1.7 Cash and ¢A•h •4ulvthrt• Ca6h and equfvdents In(kn• hend, dep09119 h•kl al c411 vAlh bank8, othw Ikuhj trNe51n￿ wjth (x1glnal rnattwrffj88 ofthm morths w l•ss bank ￿￿er￿10￿. Bank owrthatts am t*llhin In oJrrentllabMI 1A Financlal Instrum•nts Thts (knty has *ctod to Iha FXOVtyf￿S Dt SoLtiL￿ 11 'BA* FIrraT￿￿ Ir*tswnents' and Sedon 12 FThni¥o1 Irthmgnt618suo8' of FRS 102 trj 8U of kn finHndo1 inslNments. Fin#nrJlll In81rur￿ are roc4FknJ In th8 bala￿8 sh*t t￿COM$S party to thg 45Tots ar# offBo1 w4th tho not 8nwJJnt8 pr•8ented In lh• slat￿. whan Ih&B ts a gnforceabfe Wttr> sèl off the r￿￿sed &no￿ts th8rn is an ivthnlbn to on a n•t basb or lo rgalse the assel aThJ S*1￿1h9 Ilablltty slrnUttar*o￿ty. fvnd* 2•28 B•nk chwgo8 1138> {133) Grvtht fvnd*)g ofocthkn nots 31 369.418 280,339 389.285 282.594 UPSIDE TRUST NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2024 (lrnnts payablo Grants to InstlbJUcm6: Afrkn ArniniAl8m 148,808 41.606 37.523 80,ONJ 80.(ts) 30.000 25.￿0 18.896 33,500 30.￿0 CAMFED Inknath)n Laty Matt¢r8 K￿nd01 LWI 369,418 2W.339 Afrts Anknl *Jama. Th& Ctr￿ty ￿ £79.652 b fund Y08r 2 01 FK(rfJf8tt¥M t+ fvnd fvther eduLzkn udents cLYnF4etKm ofthelr S•￿￿￿3ry èd(K4Oon at th• aTh1 8ec4)ndary St*0￿¥ In Tanz8niA 8ThJ f￿1 sèc¢ndary educalcffi at the Pa￿)1& Swrafjnot48 Toutsm schod8 OF•a￿ by Th& Charlty pald a futh•r £69.156 lo fund th8 bl(1￿1￿ of 8 naw Lws, dryrnltory bkxk al the Ktlmo *44riwtturd School the purdw of a tr8cb)r a￿1 for E8th ProJo¢ts {d Kl&no &hLX)I hon•l. Ma8ikhule- Th• Chaity pakl £24,42fj lo fund th• Ma61kPMrf4 E￿Y Learnh￿ PftyJrnmm• Pha8• 4 £17.1 to lund the Nutrloon PrD3ffwnrno 2025. CA•AFED Inl8rnatlonal - Th• Charmy p•d £84).IKIO to SLPWt 2 wogr8mme& a 8¢*Kd f￿lIng prolgL* In Zlmbabwè snd 8 prolad to provtde wto thktrvn In Zan* Wc¥ld Rdw. Tr* CtrArltyrAfd ts).(QO to (W￿ a thjblhg Qxnrnurmttee Pr* In Konya. Opl¥on Four￿0110n-The Ch* Fetd £35,504 b fvThl the Yogr 3 Soarfng Eagla$11 Transldons pr*rt Lth Talk* Mattsr¥. Th• CW pakl £33,600 tts fuThl ts expansbn d Ihè Lady Tafk Slstthth Program In South Afts and Zhmbatrrte. Non• of thè tru6te85 lor Sny vAth thoml remvnerakn or Èen•llts from th8 chwity duthg the ymr. UPSIDE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEIABER 2024 The averng• monthly nthnbor ofefflrtyes