EA FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER2024
Ch8rlty regisiratlon number 1194169
Comp8nyr•Klstratlon numb&i 12303342 (England and W81è81
EA Foundation
EA FOUNDATION
ANNUAL REPORT AND FINANCIAL
STATEMENTS
FOR THEYEAR ENDED 31 DECEMBER 2024

EA FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER2024
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
R Bronze (Chairl
F Fosse
DrASen
DrT Sikorski
L Mortimer
J Talbot
D Behl lappointed 20 May 20251
K Kibirango (appointed 20 May 20251
Companysacretary
Bird & Bird
Foundatlon Dlroctor
G Awoonor-Gordon
Charlty numbèr
1194169
Gompony number
12303342
Roglsterod offlc
25 North Colonnade
London
E145HZ
Audltor
Alliotts LLP
Manfield House.
1 Southampton House
London
WC2R OLR

EA FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER2024
Contents
Openingstatement bythe Chairand Foundation Director...................................................
Statement of Trustees. Responsibilities...............................................................................
Governance and Financial review.........................................................................................
Govarn8nco ................-...........-........-..-.........-........-.-.........-.-.......-.-.........-...........-........-...
Confll¢t of Intorest.................................................-..........................................-..-........-...
Rlsk Managèment............................................................................................ ..........
Financial Review.......
Reserves Policy.................................................................................................................
Inv•8tment Poucy.............................................................................................................
IntrodU￿10n to EA Foundatlon..............................................................................................
Vl810n...........................................-...........-....................................................................-...
Ml$$lon
Values...............................................................................................................................
Grant-makSn8 Oblectlves......................................................................................................
Approach..........................................................................................................................
Straloglc Plllars.................................................................................................................
Whowe Fund........................................................................... ............
Gr¥nt-m8kSng Pro¢odure.............
Achlevements and Parforrnan¢¢.
Hlghllghts In 2024: .......................................................................................................
Grants............................................................................................................................. 12
Plan5 for 2025..............................................................................................................
IndopendentAudltor'8 Report............................................................................................ 20
Statomont of Flnanclal A¢tlvltlo8............................................................................................23
Balance Sheet..........................................................................................................................24
Notes........................................................................................................................................25

EA FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER2024
Opening Statement by the Chair and Foundation Director
Throughout 2024. the world continued to feel the effects ot a slow post-covid economic
recovery, the Cost-of-living crisis and the impact of geopolitics. We saw severe humanitarian
crises across the globe, brought on by diverse issues including conflict, natural disasters and
climate ch8nge.
These challenges have only served to highlight the pivotal role that philanthropy can play in
supporting communities through disaster mitlEation. resilience and adaptation. Philanthropy
can catalyse cre8tivity. thereby strengthening individuals. families and communities to reach
their full potential. We are proud ofthe partnerships that we have nurtured to date. and the
commitment that our partners have shown in mitigating significant risks to Iheir partner
communities from these global challenges and finding innovative ways to expand opportuniti&s.
As a relatively new foundation. we have been on a learningjourney this year and have spent a lot
of time listening to our funded partners. to better understand the barriers they and in-country
P8rtneis face. We spent the year relleciing on howwe, as a lunder, could most effectively
support the sector through Ihese challenging times. We provided new and follow-on funding.
engagtsd and shared ltrarningwith other fundeTS and stakeholders, faeiliiÉièd introductions and
created a Moniioring, Evaluation and Learning IMELI Fund, which provides small pois ol funding
to partners to address any critical gaps in their MEL capacity.
To maximise our impact. the Board transitioned to an invitation only funding process. Whilst we
acknowledge th81 this potentially limiis ihe number of organisations we could fund, it me8n8
that we are better able to nurture more me8ningful partnerships and have more nuanced
discussions, thereby enabling us to be more responsive to the changing contexts and needs.
We are keen to ensure that this process doesny beeome a'elosed shop. 8nd so to keep 8bre8St
of impactful work, potential applicanls can still submit expressions of interest through our
website. We 81s0 regulgrly become aware of fantastic or8anisgtions through our own rese8r¢h
8nd our network ot other lunders and partners.
In order to balance our porrfolio, we trialled a funding round focussed on a single one of our
strategic pillars by inviting organisations working in environmental sustainability to submil
applications. We engaged with a diverse range of environrnental actors and following robust
assessments we welcomed a dynamic set of new partners.
In 2024. the Board approvod £1.94m in grants 8cross our five strategic pi118rs, tsking our tot81
awards approved to just over £4m over the last fourye8rs. Please see pages 11-17 for a full list of
grants approved this year and 36Q￿l￿g forthe r8nge ofwork we have funded to date.
We feel privileged to be partnering wrth truly 8m8zing organisations that are committed to
driving long-terrn change in the lives of their partner communities. and we look forward to
deepening these partnerships in the coming years.
Rithard 8ronze (Au9 16. 202S. 11.5￿)
WI9 19. 2025,
Richard Bronze
Chair
Georgina Awoonor-Gordon
Foundation Director

EA FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER2024
Statement of Trustees. Responsibilities
The Trustees present their report and financial statements foi the year ended 31 December
2024.
The financial statements havts been prepared in accordance with the accounting policies set
out in note 1 to the financial siatements and complywith the charity's articles of association,
the Companies Act 2006 and"Accounting and Reporting by Charities: Statement ol
Recommended Practice applicable to charities preparing their accounts in accordance with the
Fin8ncial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1
january 20191"
Governance and Financial review
Governance
EA Foundation was established in November 2019 as a company Icomp8ny number 123033421,
and then in April 2021 as a registered charity Icharity number 1194169 in England and Wales). It
was set up by Amrita Sen, Fredrik Fosse, Rich8rd Bronze and Trevor Sikorski, comrnitted to
addressing inequities faced by some of the most m8rginalised communities globally. They also
control a company ca118d Energy Aspects.
EA Foundation owns shares in EA Group Holdings Ltd Ithe parent ¢omp8ny ofthe Energy
Aspects group) and currently derives its income solely from this source. In keeping with Charity
Commission guidelines. EA Foundation is completely independent and has no direct
eonnections wilh the operations of Energy Aspeets or its clients. The Charityworks entirely for
public benefii and in no way works io advantage Energy Aspects., which in turn has no control
over grant making or any other decisions ot EA Foundation.
EA Foundation I'the Charity") is governed wholly by a 808rd of Trustees 1.the Trustees") which in
addition io the founding Tiustees, includes foul Trusiees (two new trustees were appointed in
May 20251 not affiliated with the Compony. with over011 responsibility for the Charity's activities,
management and control.
Trustees also sit as Directors under Company Law and were appointed in a voluntary capacity
to lend their expertise to ensure the effective management ol the Charity- Trustees are not paid
and any expenses and related party transactions are fully disclosed in notes 6 and 15 to these
accounts.
The original Trustees are the founders of the Charity and OLL work for Energy Aspects. the main
donor lo the Charity. None ol the Trustees has any beneficial interest in the charitable company.
All the Trustees are members of the charitable company and guarantee to contiibute £1 In the
event of a winding up.
The Board meets at least four times a year levery quarterl and the Charity is empowered to
delegate rnanagernent of the Charityto an appointed Foundation Director. The Charity's
Foundation Director is usually present at Board of Trustees meetings and is in regular contsct
with the Chair of the Board of Trustees.

EA FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER2024
Conflict of Interest
The Charity's Foundation Director is responsible for ensuring that all transactions are compliant
with our Conflict of Interest policy. Trustees are required to verbally declare any conflicts of
interest at all Board meetings and to submit written declarations for all funding rounds. Where a
onflict with an applicant has been declared. Trustees would be expected to discuss the
application, however, would not be included in anyfin81 decisions.
Rlsk Management
We hav8 adopted the Charity Cornmission's definition of risk as'any event that could prevent a
charity achieving its aims or carrying out its strategies.. Tiustees work to ensure that appropriate
policies and procedures are in place to mitigate exposure to risks which might jeopardise the
wellb8ing of the communities we work with and EA Foundation's reputation and that of our
partners.
Our Risk Management policy has been developed in direct response to the guidance provided
bythe Charity Commission ICC261. We ensure that our assessment of risk is guided by our
capacity to continu& meeiing the needs of our end t8rget communities, now 8nd in the fulure.
As 8 funder, it is our responsibility, in addition to ensuring our own organisational sustainability,
to strongly consider relevant risks and related impg¢t on our tgrget communities. funded
P8rtneis, staff and 8ffili8tes. The Risk Man8gement policy provides guidance on m8n8ging
organisational risk to support the achievement of our sirategic objectives, proteci key
stakehol(Jers. business assets and lo ensure the continuation of business operations and
financial sustainability. The Policy o￿lIneS 8 f18mework foi the following:
Risk governance
Identification of risks
Assessment of risks
Mitigation
Monitoring and review
Communieating8nd Reporting
Financial Review
In total, our spending consisted 01 £1.544,255 in grants payable12023: £846,88718nd £100,769
on administrative overheads12023.' £59,765).
The increase in this year's expenditure is a clear demonstiation of our commitment to scale-up
our grant-making. whilst maintainingconservative overheads. We continue to off-set significant
operaiion81 costs by benefitting from the skills of a growing nuwnber of staff 8t Energy Aspects
who offer their time voluntarily across various areas including IT, communications, finance, and
graphic design. We acknowledge and appreciate the invaluable assistance provided without
charge. Their contributions have not been monetised in these accounts or by Energy Aspects
Ltd.
ht

EA FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER2024
Our revenue in the year totalled E179.76912023.. £212.6311, mainly from interest. We continue
to draw down on income of £5.1 m from the initial sales of shares in 2022. This year. Trustees
agreed a'spend down. strategy with an estimated allocation per cycle up to mid-2026.
Net movement in funds for the year was 8 negative £11,466,544112023- negative £1697,0631 and
retained unrestricted reserves were É2.777.44112023: É4.243.9851.
Reserves Policy
In the period to 31 December 2024, our Reserves policy slates that the Charity should hold
unrestricted funds I'lree resetves'l sufficient to enable the award of grants up to É2.2m in 2025
1£1.Sm in 20241, split equitably across our strategic pillars. in addition lo holding 6 months of
reserv8S to cover operational costs for the respective years; this equates to approximately
£2.25m. At the year end. free reserves stood at £2.77m.
The level of reserves might be adjusted in subsequent years. accordingly. based on any
contextual consid&r8tions and projected income trom the futuie sale of shares.
Investment Pollcy
Shares owned in Energy Aspeets are our main source of income, 81ong with bank inter&st
generated on our cash resetves. The Trustees are keen to ensure long-term sustainability of the
Charity and will continue to explore appropriate and timely investment options which will
enable us to continue m8eting our strategic objectives. Our future gronl.rnaking will be
informed by the sale of more shares, the timing and amount ofwhich has not yet been
determined.

EA FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER2024
Introduction to EA Foundation
Irision
A more equitable fvture for rnarginalised cornmunities
Mission
To support community-driven initiatives which work to improve the lives of disadvantaged
communities in low to medium income countries- specifically focused on improving access to
education and basic services. relieving poverty. promoting environmental sustainability and
responding to hum8nitari8n crises.
Values
Champlonlngcommunlty
That affected communities lead on theii own solutions and vision for their future
Ensurlng Equlty and Incluslon
That our funding reaches the most m8rgin81ised communities t8cking under-supported or
under-reported issues
Promotlng Partner$hlp
Taking a meaningful opproo¢h to p8rtner$hip and nurturing 8 $p8¢e for org8ni$8tionÈl growth
and sustainability
Enhanclng Learnlng
Creating space for partners to share learningto encourage greater sector collaboration
Grant-making Objectives
Approach
As a trust-based partner, we strive to achieve the following-
Being an'8pproachable' funder
Supporting partners, growth beyond grant-making (Funder Plus)
Creating space for honest conveTsations with partners
Being self-reflective
Sharing learning with other funders and continuously striving to ensure apptication of
best practice
We are keen to ensure that our grant-making processes are as accessible as possible. and that
the majority of our income is passed on to ourfunded partners. This year, to ensure streamlined

EA FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER2024
operations and to maximise the impact of our own bmited resources. Trustees took the decision
to shift calls for proposals to invitation only. We now invite applications in funding rounds
per year.
Whilst we will continue to fun¢J projects internationally which work to address issues aligned to
our five strategi¢ pillars outlined. in order to target our available resources in a manner that
maximises the impact of our funding. we will nowlocus OUT work primarily in low to middle.
income countries, and in areas which clearly demonstrate the most significant disparities and
marginalisation of communities at risk. Any work outside of these geographies will be by
exception only.
Strategic Pillars
Trustees continue to pay due regard to guidance issued by the Charity Commission on public
benefit in deciding what activities the charity shoulij undertake. We are committed to our
mission of supporting communily-driven solutions as aligned to our strategic pillars as outlined
below..
Baslc Servlces: to improve aecess to basie serviees 8nd infr8Strueturè to disadvantaged
communities, including but not limited io healthcare, cle8n w8tei and electricity.
Education: io provide educational opportunilies. p8rticu18rly tor dlsadv8n18ged individuals
and communities.
Envlronmental Sustalnabillty: to address environmentslch811enges and promote
sustainable development. both in its own right and through the pursuit of the other key oreas of
focus.
Poverty Reductlon: to 8ddiess the diverse range of ch811enges affecting marginalised
communities and invest in long-term solutions.
Humanitarian Responge: to supporting activities which address the suffering of
communities affected by conflict, healih, natural dis8Sters or other emergencies. We provide
grants to reputable organis8tions to contribute to rapid and effective emergency responses io
crises across the globe.
Whowe Fund
We invite the following types of organisations to applyfor funding-
UK Registered Charity
Registered Charitable Incorporated Org8nisation ICIOI
Charitable company. limiied by guar8ntee
Community Interest Company ICICI. limited by guarantee
This yearwe mainly funded UK-based charitable organisations. although we are actively
exploring ways to identify and support more organisations based in our target geographies,
while maintaining a high standard of due diligence and accountability.

EA FOUNDATION TRUSTEES. REPORT FOR THEYEAR ENDED 31 DECEMBER 2024
Grant-making Procedure
As outlined above, applications are now by irwitation only. The diagram above gives an ov8rvi8w
of our grant-m8king process. For more inform8tion on our gr8nt-m8king procedure, please se&
our Guidance at https'.Ilwww.ea-foundation.or&uklgrant-making-guidanc8
10

EA FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER2024
Achievements and Performance
This year. the Board set out ambitious plans to actW8te its commitment to our strategic pillars
by investing in our operations to scale up our grant-making. Our focus over the year was on our
core grant-m8king activities.
Highlights in 2024
The Board awarded £1,991.176 in grants Isome of which witl be paid out in future
financial years)
With funding for humanitarlan crises totalling 2177, 500. this year saw a
significant increase in our response to increasing emeigency and pioiracted crises
globally
We deepened collaboration with 38 funded partners with 47 grants approved
We expanded our geographic leach to at least 24 countries with a few partners
working across regions.
To strengthen our ¢ommitm8nt to environmental sustainability, and to create a
more balanced porttolio, we ran 8 funding round. foeused specifically on this strategie
This year saw the introduction of our Monitoring. Evaluation and Learnlng
(M EL) Fund? providing sm811 pots of fundingto partners to strengthen their MEL
capacity
Our Director made a project wsit to India to see first-hand, the invaluable work dèlivered
by one ot our strategic partners. The Cycle and Sanitation First India in Tamil
Nadu
We worked to Stren8lhen engagement with other funders. in order to learn and apply
best practlc8

11111

111111
D£ o
51
Ct z
111

11

1111
1111
11

11111
111

EA FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER2024
Plans for 2025
Continue to nurtur¢ partnorshlp$ with organisations committed to ¢ommunlty-drlv¢n
Initiatives and impaet
Project visits: we will contirbue to visit ourfunded partners to ensure continuous learning
and improvement of our grant-making approach
Convene partners for shared l&arnlng
Develop a new online grants management system to streamline our processes and
enable a more dynamic capture of our impact data
Conduct a perception suNey to receive anonymous feedback from partners on our
systems. processes and pannership approach
Provide safèguardlng support to funded partners
17

EA FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER2024
The Trustees, who are also the Directors for the purpose ot company taw, and who served during
the year and up to the date of signature of the financial statements were..
R Bronze
F Fosse
DrASen
DrT Sikorski
L Mortimer
l Talbot
D Behl (appointed 20 May 20251
K Kibirango (Appointed 20 May 20251
Audltor
In accordanc8 Wlth the company's articles. a resolution proposing that Alliotts LLP be reappointed
as auditor of the company will be put at 8 General Meeting.
The Trustees, report was approved by the Board of Trustees.
￿￿￿3rd Branze IAu9.18 2025. 11 $6arnl
R Bronze
Trustee
Date..
18 Aug 2025

EA FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER2024
Statement of Trustees, Responsibilities
The Trustees, who are also the Directois of EA Foundation for the purpose of comp8ny18w. are
responsible lor preparingthe Trustees. Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Pr8Cticel.
Company Law requires the Trustees to prepare financial statements lor each financial year which
give a true and fair view of the state ot affairs of the charity and of the incoming resources and
application ol resources. including the income and expenditure. ol the charitable company for that
year.
In preparing these financial statements. the trustees are required to:
selèct suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP.
make judgements and estimates that are reasonable and prudent..
state whether applicable UK Accounting Standards have been followed. subject to any m8tèri81
d8partures disclosed 8nd explained in the lin8nci81 st8tements; and
prepare the financial slalements on the going concern basis unless it is inappropriate to presume
that the ch8rity will continue in operation.
The Trustees 8re responsible for keeping adequate 8eeounting records th8t disclose with
reasonable 8ccur8Cy 81 any time the financi81 position of the charity 8nd enable them to ensure
that the financi81 statèments ¢omply with the Comp8nies Act 2006. They 8re 8lso responsible for
safeguarding the assets of the charity and hence foi 18king re8sonable steps for lh& pr&ventlon and
detection ol fraud and other irregularities.
19

EA FOUNDATION
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF EA FOUNDATION
Opinion
We have audited the financial statements of EA Foundation Ithe 'charity'l for the year ended 31 December 2024
which comprise the statement of financial activib"es, the balance sheet and notes to the financial statements,
including significant accounting policies. The financial ￿porting framework thal has been applied in their preparation
is applicable law and United Kingdom Accounting Stsndards. induding Financial Reporting Standard 102 The
FinanGi81 Reporting Standard applicable in the UK and Republ￿ of lTrland (United Kingdorn Generalty Accepted
Accounting Practice).
In our opinion, the financial statements".
give a true and fair view of the state of Ihe charilable companys affairs as al 31 December 2024 and of ils
incoming resour¢es and application of resources, including rts income 8nd expendr(ure, for the year then
ended",
have been property prepared in acKordance wth United Kingdom Generally Accepted Accounting PraCts.￿..
and
have been prepared In accordance wrth the requirements of the Companies Act 2006.
8a818 for oplnlon
We conducted our aufjlt In a¢¢ordan¢e wilh Intemalional Standafd$ on Auditin9 IUKI IISAS IUKII and appll¢abl$
law. Our résponsibilities under those standards are further desuibed in the Audiloffs msponsibililies for the &udit ol
the financial stgtemenls secth)n of our report. We are independenl ol the charity in accordance wrth the ethical
requirements that a￿ relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our olher eth￿￿1 responsibililie5 in accordance wrth these requirements. We believe
that the audit evidence we have obiained is suffirient and 8ppropri8te to provide a basis for our opinion.
Con¢lu¥lon$ r*l•tlng io golng ¢on¢em
In auditing the financial statements. we have concluded thal the trustees, use of the going concem basis of
accounting in the preparation of Ihe financial slatemenls is appropiiate.
8ased on the work we have perfomied. we have not identrfied any material uncertaSnties relatlng to events or
conditions that, individually or collective￿. may cast Slgnificanl doubl on the charity's ability to continue as a going
concern for a penod of at least Iwefve months from when the finanaal statements 8re authorised for issue.
Our responsibilities and the responsibilities of the tnjstees wth respect to going concem a￿ described in the
relevant sections ol this report.
Othèr Infomiatoon
The other information comprises ihe information included in the annual report other than the finarcial statements
and our audi¢orfs report thereon. The tru51ees are responsible lor Ihe other infornialion contained within the annual
report. Our opinion on the fin8ncial statements does nol co¥er the other information and. except to the extent
otherwise explicitty stated in our report, we do not expiess any form of assurance conclusion thereon. Our
responsibility is to read the other information and. in doing so, consider whether the other Information is materially
inconsistent wrth the financial statements or our k￿th￿edge obtained in the course ol the audrt, or othetwise appears
to be materialty misstated. If we identify such material inconsistenues or apparent material misstatements, we are
required to delemiine whether Ihis gives rise to a material misslatemenl in Ihe financial Statements themselves. 11.
based on the work we have performed. we condude that Ihere is 8 rnaterial fflis5tatemenl of this other infomiation.
we are required to report that fact.
We have nothing to report in this ￿gard.
Oplnlons on other matters prescrlbed by the Companles Act 2006
In our opinion. based on the work undertaken in the cou15e of our audtL
the inforrnation given in the trustees. report for the financial year for which the financial ststements are
prepared. which includes the directors, rew)rt prepared for Ihe pufposes of ￿MpanY law. is consistent with the
rinancial statement5." and
the directors, report induded within the trustees. report has been prepared in ac£ordance wth applicable legal
requirements.
-20-

EA FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF EA FOUNDATION
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the
audit, we have not Identified material misstatements in the directors. report induded wrthin the trustees. report.
We have nothing to report in respect of the followThJ matters in relation to which the Companies Act 2006 requires
us to report to you rf. in our opinion..
adequate accounting records have not been kept. or retums adequate for our audrt have not been received
from branches not visbted by us., or
the financial statements are not in agreement vAth the accounbng records and relums,. or
certain disclosures of truslees. remuneralion speuffied by law are not made.. or
we have not received all the infomation and explanations we require for ouf audit," or
the trustees were not ents'tled to prepare the financial slalements in accordance with the small companies
regime and take advantage of the small comp8nies' exernpbon5 in preparing the trustees, report and from the
requirement lo prepare 8 $tr8legi¢ report.
R••pon•lbllltl•s ol tru8té•s
As explained more fully in the statement of trustees. responsibililies. Ihe twstees. who are also the directors of the
charity for the purpose of company law. are responsible lor the preparation ol the finanryal stslemenls and for being
satisfied that they give a true and lair ¥iew. and for such intemal control as the Iruslees delemine Is necessary to
enable the preparation oi financial statements that are free from matenal misslalement, whether due to fraud or
error. In preparing the financial slalemenls. the Iruslees are responsible for assessing the charity's ability to
continue as a going con￿m, disdosing. as applicable. matters relaled to going concern and using the going
concern basis of accounting unless the trustees erther intend to liqU￿ale the charitable company or lo cease
operations, or have no ￿811$b¢ 8Nem8twe bul tts do so.
Audltorf$ rnspon$lbllbll¢$ lor th• audlt of th• finan¢lal $tst¢m*nt•
Our objectives are lo obtain reasonable assurance about whelher the financial staternenls as a Who￿ are free from
material mi5slalemenl. whether due to fraud or error. and to 155ue an audito¢s report that includes our opinion.
Reasonable assurance is a hi9h level of assur8n¢e but is nol a guarantee Ihat an 8udi¢ conducted in 8¢¢ord8n¢e
with ISAS IUKI will alway$ deted a material mis$tslem¥nl when il exists. Mis$tslemenl$ ¢&n arise from fraud or
error and are considered material if. IndNidually or in the aggregate, they could reasonabty be expected to influence
the economic decisions of users taken on Ihe basis of these financial statements.
Irregularities. including fraud. are instances ol non•compliance wilh laws and regulations. We design procedures in
line with our responsibilities. oullined above. lo detect malerial misslalements in respect of irregularities. including
fraud. The extent to which our procedure3 are ¢apable of detecting irregularitses. induding fraud, is detsiled below.
Extent to whlch th• audlt was con•ld•red capablfr of detèctlng IrregularltS63, Includlng fraud
the engagernent partner ensured that Ihe engagemenl team collectively had the appropriale competen￿,
c8pabilitie5 and skills to ￿entIty or recognise non-compliance appliG4ble laws and regulations.,
we identified the laws and iegulations applicable to the chartty through discussions wrth trustèès and tsthèr
management, and from our knowledge and experience ofthe sector.,
• we focused on specrfic laws and regulats)ns which we considered may have a direct material effect on the
finanaal statements or the operations ol ihe charity. induding Ihe Companies Ac12006, the CharIt￿S Act
2011. the Charities SORP. taxation legislation and data protection. anlkbribery. employment. environrnental
and health and safety legislation..
we assessed the extent of compliance vrith the laws and wulations identtfied above through making
enquiries of management an¢J inspecting legal correspondence." and
identffjed laws and regulations were communicated wrthin the audit team regula￿ and the team remained
alert to InStan￿S ol non-complian￿ throughout the audit.
21

EA FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF EA FOUNDATION
We assessed the susceptibility of the charity's financial ststernents to material misstatement. induding obtaining an
underst8nding of how fraud might occur, by.
making enquiiies of managemènt as to where they (x>nsidered there was suscepts"bility to fraud, their
knowledge of actual, suspected and alleged fraud,"
considering the intemal controls in place to mrtigate risks of fraud and nofvcompliance wth laws and
regulations.
To 8ddress the risk offraud through managernent bias and override of controls. we..
performed anatytical procedures to identify any unv$ual or unexpected relatlgn$hip$,'
tested joumal entries to Identify unusual transactions".
assessed whether judgements and assumptions made in detem)ining the accounting estimates were
indicative of potential bias.. and
• investigated the rationale behind significant or unusual transactKJns.
Audlt response to rityk¥ Identified
In response to the risk ol irregularities and nowompliance wih laws and regulations, we designed procedures
which included, but were not limited to..
agreeing financial statement disclosures to undertying supportt'ng dc&umentatson'.
enquiring ol management as to actual and potents'81 libgabon and daims.
Th&re are inherent limllallon$ In our audrt pro¢¢dures dewbed above. Th¥ more removed Ihot law$ and
regulations are from financial transaCt￿nS, the less like￿ it is that we would become aware of non-compliance.
Auditing Standards also limrt the audit proCedU￿S ￿qUired to identsfy non-compliance with laws and regulations to
enquiry of the directors and other management and the inspecbon ol regulatory and legal correspondence, rf any.
Material misslalernenls that arise due to Iraud can be harder to deteci Ihan those (hal arise from trrrtsr 88 they may
involve deliberat& ￿nCealMent or ¢ollusion.
A further description ol our responsibilibes is available on the Finanaal Reportj'ng Council's website at.. https.'Il
W¥vw.Irc.org.uklauditorsresponsibil￿.es. This description forms part of our auditorfs report.
U•0 of our rèport
This report is made solety lo the ¢harrfable ccrfnpany's members. 8$ a body. in a¢cord8nce with Chaptèr 3 of Part 16
of the Compani85 Act 2006. Our audit work has been undertaken so that wè might State lo thè charitaue company's
membèrs those matters we are required lo state to 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 charitable
company and the charrtable company s members as a body. for our audit work, for this report, or for the opinions we
have lomied.
SlephÈn PA
Stephen Ole￿di
"th 6A'WcA 6dhA Isenlor Ststutory Auditorl
for and on behalf olAlllotts LLP
24J
18 Aug 2025
Chartered Accountants
Statutory Auditor
Manfield House
1 Southampton Street
London
WC2R OLR

EA FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEAIBER 2024
un￿tricted
funds
2024
Unrestricted
funds
2023
Notes
Income from:
Investments
179,769
212,631
Total Income
179,769
212,631
Expendlture on..
Charitable activities
1,645,024
906,652
Total expendltur•
1,645,024
906,652
Net expendlture
11,465,255)
1694,0211
Other r•cognlied galn• and loss••'.
Other losses
11,2891
13,0421
Net movement In funds
11.466,5441
1697,0631
Reconclllatlon ol funds:
Fund balances at 1 January 2024
4,243,985
4,941,048
Fund balanc•8 at 31 D•c•mb•r 2024
2,777,441
4.243,985
The statement of financial activrties includes al gains and losses recognised in Ihe year. All Income and expenditure
derive from contsnuing activities.
-23-

EA FOUNDATION
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Notès
Fixed assets
Investments
10
27.900
27,900
Current assets
Debtois
Cash at bank and in hand
11
49,350
4.612.213
2.891.933
2,891.933
4,661.563
Credltor8'. amounts falllng due vAthln
one year
12
1142.3921
1445.4781
Net current assets
2.749.541
4.216.085
To¢al a¥Jet• le¥s curr•nt Ilabllllle•
2,777.441
4.243,985
The lund¥ ol the charlty
Unrestricted funds
14
2,777,441
4,243,985
2.777,441
4.243,98S
05 Aug 2025
The flngn¢lo1 $tst8ments wero gpproved by the tru$tees ￿ .........................
Ri¢hord BronzÈ.IAui18 2025, 11.'56•ml
R 8ronze
Tru8t••
Company registration number 12303342 IEngland and Wales)
-24-

EA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
Charity inforrnation
EA Foundation is a private company limited by guarantee incorporated in England and Wales. The registered
office is 25 North Colonnade. London. E14 5HZ.
1.1 Accounting convention
The financial statements have been prepared in accordance vthh the charity's A￿leS of AssoaatK)n. the
Companies Act 2006 and Accounling and Reporting by Charities.. Statement of Recornrrended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191" The charity is a Public
enefil Entity as defined by FRS 102.
The financial statements are prepared in steding, which is th• functional currency of th& Charity. Monètary
amounts in these financial statements are rounded lo the nearest £.
The finanu815tatements have been Prepared under the historical cost convention.
1.2 Golng concern
At the time of approving the financial statemenls. the trustees have a reasonable expectation that the charity
has adequate resources lo continue in operational exislence for the foreseeable futu￿. Thus the trustees
continue lo adopt the going concem basis of accounling in preparing the financial ststernents.
1.3 Charttabl• fund8
Unr&$tri¢led funds 8re ovailoble for use al the dis¢r¥lion of the Irusle*s in fvrth*r4n￿ of Ihoir ¢harit8bl&
oblectivgs.
IA Income
Income is recognised when the charity is legalty entitled to it after any perfomance conditions h8ve been met,
the amounts can be measured reliabty, and it is probable thal income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been nots'fied
of the donation and a cash value can be established wtth reasonable certainty. unless performance conditions
quire deferral of the amounl. Income tax recoverable in ￿latiOn lo donations received under Grft Aid or
deeds of covenant is reo)gnised at the lime of Ihe donation.
Legacies are recognised on receipt or otherwse if the charty has been noiffjed of an impending distribution.
the amount is known, and re￿Ipl is expected. 11 the amounl is not known, Ihe legacy is treated as a
contingent asset.
1.S Expendlture
Expenditure is recognised once there is a legal or constructNe obligation to transfer economic benefit to 8
third party, rt is probable that a transfer of economic benefits ￿11 be required in settlement, and the amount of
the obligation can be measured reliabty.
Expenditure is classffjed by aclivty. The costs of each aclNity a￿ made up of the total of dIr￿t costs and
shared costs. including support costs involved in undertaking each adivity. Direct wsts 8ttributable to a single
activity are allocated directy to that actNity. Shared costs whith contribute to rnore than one activity and
support costs which are not attributable to a single activty are apportsoned between those activrties on a basis
consistent wrth the use of resources. Central staff costs a￿ allocated on the basis of time spent, and
depreciation charges are allocated on the portion of the assefs Use.
Expenditure is allocated to each charrtable aclivrty on a direct cost basis, or as an apporb"onment of support
costs based on time spent by stafflvolunteers
-25-

EA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
A¢coun¢ing policies
(Continuedl
1.6 Flxed asset Investments
Fixed a55et investrnents are inilialty measuTed at cost and subsequentty measured at C05t le5S any
8ccumulated impairment1055es. The investfflents are assessed for impairment at each reportin9 date and any
impairment losses or reversals ol impaiment losses are recognised immediatety in net incomellexpenditurel
lor the year.
1.7 Cash and eash oqulval•nts
Cash and cash equivalents include cash in hand. deposils held al call with banks, other short-terrn liquid
investments wrth original ma¢urities of three monlhs or less. and bank overdrafts. Bank overdrafts are shown
wrthin borrowng$ in current liabilths.
1.8 Flnanelal Instrum•nts
The charity has elected to apply the provisions of Section 11 'Basic Frnanci81 Inslrumenls, and Section 12
'Olher Fin8nrial Inslrvmenls Issues. of FRS 102 to all of its finanri81 instruments.
Flnancial instruments are recognised in the charity's balance sheet when the chanty becomes patty to the
contractual provisions of the instrument.
Financial assets and liabililies a￿ offset. with Ihe net amounts p￿Sented in the financial statements. when
there is a legally enforceable right to set off Ihe recognised amounts and there is an intents'on to settle on a net
basis or lo r&ali$& the a$s&l and the liability $imuN8neousty.
B•$le flnanclal •ss•ts
Basic finana81 assets. which indvde deblors and cash and bank b818nces. are initially measured at
Ir8nsa¢lion price including ir8ns8dion costs and are subsequentty carried ai amortised ￿$1 using the trffedive
interest mtrlhod unle$s the arran9èmenl ￿n$t11Ut•S a financing transaction. where the iransaelion is
measured at the prèsent valuè of thè lulurè r￿IptS discounted at a morket rats of Interest. Finanu81 a$$&ts
classified as receivable within one year are not amortised.
Baslc flnanclal Ilabllltl•s
Basic financial liabilities. in¢luding crèilrtors ar¢ inrtialty recogniwd at transaction pri¢0 unless the
arrangement constrtutes a finanang transacts"on. Finanoal liabilities classffied as payable within one year are
not amortised.
Dèr•eognition of financial liAbiliti•s
Financial liabilities are dere¢ogni5ed vthen Ihe chanty's ¢ontractual obligations expire or are discharged or
cancelled.
1.9 Retirement benefits
Payments to defined Contribul￿n retiremenl benefft schemes are charged as an expense as they fall due.
-26-

EA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Expenditure on charitable activities
Charitsble
activitles
Charitsble
activities
2024
2023
Direct costs
Staff costs
Gr8nts awarded
Donations
69,196
1,544.255
8,L￿o
36,952
646,887
100
1.619,451
883,939
Share of support and gov•man¢e costs Isge not? 4)
Support
Gov&rn8nce
3,354
22,219
1,085
21,628
1,645,024
906,652
Analy818 by fund
Unrestn'cted funds
1,645,024
906,652
-27-

EA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Grants payable
2024
2023
Grants to institutions..
Able Child Africa
AdAmi Project
ADD Internath)nal
Afriran Adventures Foundation
African Children's Fund
Alrica R8sèar¢h Excèllencfj Fund
Alrikids
Allve and Klckin9
APT Acts'on on Povety
Baytree Cent
BE REEL
British Red Cross
British Refvgee Coun¢il
Chance for Childhood
CoalilionWLD
Concern Worldwide
Consortium for Street Children
East Side House
Eduspots
Fèed the Mind$
Fields ol Life
Frank Water Projects
Global Girf Project
Guardians Wortd Wide
Health Poverty Action
Humanity & Inclusion
Kuwait America Foundation
MAITS
Mercy Hands Europe
Mumba Children'3 Project
Practical Action
R8ilway Children
Sanitation First
Shared Intèrèst Found8tion
Smart Girf5 Uganda
Smiling Through Light
Sophia Akash Foundation
Syrian Forum
Tackle Africa
Their Future Today
UK for UNHCR
United Worfd Sch¢)ols
UNRWA
Vita UK
War Child
Wasteaid
fild Foundation
24,542
4.000
35,000
9,000
5,000
5,700
21,533
7,5C￿l
27,867
41,288
10.000
35,000
3,OCKJ
14,470
45,0
145,000
22,500
37,774
20,000
47,000
S3.000
36,402
10.793
25,000
22,333
24,388
41.112
31,640
51,000
45,000
18,972
60,518
19,943
27,000
11.500
93,529
S1,638
16.000
64,977
35,000
115,250
41,044
47.553
30,000
50,000
49,000
20,033
25.0(X)
40,000
119.963
45,0(K)
87,500
10,650
36.499
45,000
20,000
45,000
20.214
-28-

EA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Grants payablg
(Continuedl
Women and Children First
Wornen for Vvornen
Wonder Foundation
World 8icycle Relief
World Land Trust
20,700
50,OCKJ
32,790
50,000
65,000
24,027
1.544.255
646.887
Support costs allocated to aclivitl
2024
2023
Bank charges
Website and admin expenses
In$uran¢&
Telephone
Travel and subsl$t8n
Governance costs
564
190
369
292
1,939
22.219
100
758
99
128
21.628
25,573
22,713
Analy8•d b•tw••n.'
Charitable ac¢ivits'es
25.573
22,713
Governance costs includes payments lo the auditors for ihe audit of £10,2(XI12023'. £8,100).
Net movement In funds
2024
2023
The net mtsvemenl in fvnd$ is stated after ¢h8rgingll¢rediDngl=
Fe¥$ payable for th& audit of the ¢harity'$ ffinanu81 statsments
10,200
8,100
Tru¥tees
None of the trusttres lor any persons connectèd wth thèm} recèived any remunèration or b8nèfits from thè
charity during the year.
Employees
The average monthty number of employees during the year was:
2024
Number
2023
Number
-29-

EA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Employees
(Continuedl
Employment costs
2024
2023
Wagès and salariès
Soaal security costs
Other pension costs
65,328
1.447
1,761
36,000
952
69,196
38,952
The number of employees vknose annual femuneration was more than £60.000
is as follows..
2024
Number
2023
Number
£60.000 to £70,OC
Remuneratlon of key management pev8onnel
The remuneratson ol key management personnel was as follows..
2024
2023
Aggregate compensation
65,￿0
33,272
Taxatlon
The charity is exempt from tax on income and gains falling wthin section SOS ol the Taxes Act 1988 or section
252 01 the Taxats'on ol Chargeable GainsAcl 1992 to Ihe extenl that these are applied to rts charrtable objects.
Other g¥ln8 ond I￿¥9$
Unmtrict•d Unrn8trlct•d
funds
funds
2024
2023
G8inslllossesl upon..
For8ign exch8ngè
1,289
3,042

EA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10 Fixed asset investments
Unllsted
Investments
Cost or valuation
At 1 January 2024 & 31 December 2024
27,900
Carrylng amount
Al 31 De¢ember 2024
27,900
At 31 D8eèmb•r 2023
27,900
11 Debtorn
2024
2023
Amounts folllng du• wbthln on• y•or=
Other debtors
49,350
12 Cr•dllOrn.' amounts l•lllng du¢ vthhln on• y••r
2024
2023
Trade creditors
Other credrtors
Accruals and deferred income
119
128.292
14.100
445,359
142.392
445.478
13 Retlrement benellt schemes
2024
2023
Dellned conlrfbutlon schemes
Charge lo profrt or10ss in respect of define(I contribution schemtrs
1.761
952
The charity operates a defined conlribubon pension scheme lor all qualifying employees. The assets of the
Scheme 8re held separalety from those ol the charity in an independentty administered fund.
31