Charity registration number 1196392 (England and Wales) GIVEWELL UK ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC GIVEWELL UK LEGAL AIYD ADMINISTIL4TIVE INFORMATION Truslees E Hassenfeld {¢hair) L Ding D House Charity nllmber 1196392 Registered oftfiee CIO Sedulo, oifice 605 Albert House 256-260 Old Strcet London ECIV 9DD Auditor UHY Hacker Young 14 Park Row Nottingham NGI 6GR Bankers Nahvest 250 Bishopsgate London EC2M 4AA Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC GIVEWELL UK CONTENTS Page Trustees, report Statement of Trustees, responsibilities Ind¢pend¢nl auditor's report Statemcnt of financial activilics Balance sheet 10 Statem¢nt of cash flows Notes to the financial statements 12- 17 Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC GIVEWELL UK TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 202S The Trustees present their annual report and financial staletnents for the year ended 31 December ?0?5. The financial statements have been prepared in accordance with the accounting policies sel out iii noie I lo the fiiiaiici&l stat¢ineiit.q and comply with the Charity's coii8titulion. tlie Ch&ritie% A¢t 2011 and 'A¢counting and Reporting by Chariiies.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance ￿'1th the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective l January 2019)- Objectives and activities The Charity is established to be the UK presence of Givewell, a non-profit organisation registered as a ¢harily in the United States und¢r $501 (¢){3) of (he Internal Revenu¢ Cod¢ ("GW US")- GW US is a research and grant making organisation established in 2007 which rigorously tests the effectiveness of interventions intended to iinprove global health and human ivellbeing. GW US is dedicated to helping people in need as much as possible, by researching the tnost cost-effeclive ways to save and itnprove lives. sharing ils work openl). and dircclin¥ donation5 to the programs that will do the tllOSt good. A key goal is to help doiiors have the greatest impact for every pound or dollar donated. GW US fo¢uses on ¢harilies which primaril), aim to sav¢ and improve lives in the developing world b¢¢ause the burden of preventable or treatable disease is high and the charitable ]N)und or dollar has proven to go much farther in those locations. Achievements *nd performance Significant aclivitigs and achiev'ements against objectiijes Our doiiors have continued iii their generosity iii the past year, with donations totslling £20.332,350 (2024.. £3,J81.822}. All of these donations liai'e beeii granted to Giv¢Wcll US for onm'ard disbursemcnt to identified charities or to support GW Us's charitable operations, achieving the objectives of the Charity. F￿Ildr￿lS1￿gPrtscI￿cets The Charity raises funds from individual and corwrale donors. At the point of donation, donors can choose to either donate to a specified Top Charity (a "pre-allocated donation"), Top Charity Fund, All Grants Fund, or Unrestricted, which is ultitnately used towards GW US Opcrations and then assessed for dcsignalion by the US board for futurc ¥ranlinakin¥. Donations to specificd Top Charitics or lo the Top Charitics Fund go to thc Top Charities, but on a timescale and amount determined by GW US, according to ongoing analysis of the pr¢sent needs of the Top Charities. The All Grants Fund siipports grants al Givewell Us's dis¢retion. Th¢ GW US Operations fund supix)rts spending on any Givewell US priority, including GW Us's operating expenses. On an annual basis, GW US designates "excess assets" from its unrestricted or operating funds to fiiture grantmaking. and consequently. a significant portion of conlributions to the GW US Operations fund ultimately supports charitable grants. The Charity has not re¢eived any Complaints relating to the subject of fuiidraising a¢tiiJities. Financial review The Charity received donalions during the year of £20,332,350 (2024= £3,381,822) which includes £1.283,888 (2024= £320,378) of Gift Aid claims. Donated goods and services amounted to £l17.686 {2024.. £83,558). The nel surplus amouiitcd lo £965.331 (20?4.. £289,081). Thc valuc of thc Charity's net asscts is £1,078,670 (2024- £113,339). The Charity is financiall), supported by GW US. Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC GIVEWELL UK TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 202S RL•.senyLJ.% pfJliLy The Charitv does not have a policy of maintaining reserves, as it has the support of Givewell US. The Charity has received a letter of support from the Board of Givewell US, eonfim)ing that Givewell US M'ill provide su￿1clent financial support to the Charity to enable it to continue to meet its liabilities. ,Vujc)r ri.%k% Trustees revieiv the risk position, internal controls assessment and compliance with relevant statu(ory and finance regulations. All transfers of funds from Givewell UK to Givewell US are approved by the Trustees prior to transter. Due to the iiature of tl)e Charity, there is minimal risk involved. Plan$ for future periods In (he mediuin to long lem), the Charity plans lo provide charitable siipport in a¢cordan¢e with its Objective and Activities. Structure* governance and management Giv¢W¢ll UK is a Charitabl¢ InLorporatcd Organisation {CIO) and the oifieial UK partner of Givcwcll, a US 501 {¢){3} organizalion that is dedioaled to helping people in need as much as possible, by researching the most ¢ost-¢ffe¢tl￿e ways to save and improve liv¢s, sharing ils work openly, and directing donations lo the programs that will do the most good. Givewell UK is dedicated to helping donors in the United Kingdom find and SLlPPOrt these outstanding giving opportunities through t&¥ deductible donations. Givewell UK is goveri)ed b), three Trustees and benefits from the operational support of Givewell US. The Trustccs referred to Ihc guidance conlaincd in the Charity Cotlltllission's gcneral guidance on public benefit, as required by SeLtion 17 of the Charities Act ?0 I I, ￿￿¢￿ reviewing the objccts and stratcgy of the Charity and in planning fiiture activities. The Trusl¢¢s who served during the year and up lo (he dale of signature of the finan¢ial statemenls w¢re'. E Hassenfeld {¢hair) L Ding D House RgLrttilmenl and appoinlmenl oflrttslLJes NeiN' Trustees may be appointed by the Trustees, or by the Member. to fill a vacancy or as an additional Trustee. The Charity shall select appropriate Trustees and provide them with an induction to acquaint them 'ith the goveniaiice and polices of the Charity as w'ell as what is ex￿cted of thetn in their new role. Additional traiiiiiig alld/or information will be providcd to the Trustccs oll ali ongoing basis. Grnnt making policy The Charity raises funds and supports the work of GW US b). making grants to GW US, for the purpose of GW US distributing the funding. The Charil), will have access to all the research and infortnation which GW US produces in assessing tlie most eftective charities, and will inake decisions each quat1er as to whether it is appropTiale to send funds to GW US according lo donor's wishe5. A small proportion of grants received by the Charity may be designated by donors to fiind GW Us's own operating ¢o£ts. However, th¢ funds raised by th¢ Charity i¥ill primarilj be us¢d to supwrt the ¢harities whi¢h GW US has assessed as the most effective recipients of charitable donations, in accordance with the excess assets policy described in the Fundraising praclises seclion above. Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC GIVEWELL UK TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 202S The Trustees, report was approved by the Board of Trustees. E Hassenfeld {chair) OBI0712026 Date.. Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC GIVEWELL UK STATEMENT OF TRUSTEES, RESIPOIYSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 202S Thc Trustees are responsiblc for prcparing the Trustccs, Rcport and the financial statements in accordance with applicablc law and Unilcd Kin¥dotn Accountin¥ Staiidards {Unitcd Kingdom Generally Acccptcd Accountin¥ Practice). The law applicable to charities in England and Wales requires the Trustees lo prepare financial staletnents for each financial year ivhich give a true and fair view of the state of affairs of the Charity and of the incotning resourc¢s and application of resources of the Charity for that year. In preparing these financial statements, the Trustees are required to.. select suitabl¢ ac¢ounriiig poli¢ies and theii apply rhem consistently; observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prLident,' state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the tinancial statemenls: and prepare the financial staletnents on the going concern basis unless it is inappropriate to presume that the charity will continuc in opcration. The Trustces arc rcspoiisibl¢ for kc¢pin¥ sutTicient accounting records that disclose with re&sonablc accuracy at aiiv liine the financial position of the Charity and enable them lo eiisure that the financial slatemeiils ¢ompl)J with the Charities A¢t 201 I: the Charity (A¢¢oiints and R¢porls) Regulations 9008 and the provisions of the triist deed. Thej are also responsible for safeguarding the ABEB 13107tt02e 18.06 PM UTC UHY UHY Ha¢k•rY•un¥ 14 Park Row NOttin9h¥m Nfjl bfjR INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF GIVEWELL UK Opinion We have audited the financial statements of Givewell UK (the 'Chariry') for th¢ year ¢nd¢d 31 Decemb¢r 2025 Th'hich comprise the statement of financial activities, the balance sheet, the statement of cash floivs and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable laiv and United Kingdon) Accounting Standards, including Financial Reporting Standard 102 The Financial Reporling Siapldard applicable in the OK and Republic ofIreland (United Kingdotll Generally Accepted Accounting Practice}. In our opinion, the financial statcincntS'. give a true and fair view of the state of the charity s affairs as at 31 December 2025 and of ils incoming resources and application of resources. for the year then ended- have been properly prepared in ae¢ordan¢e with United Kingdom Generally Accepted Accounting Practic¢; and have been prepared in accordance with the Charities Act 2011. Basi5 for opinioll We conducted our audit in accordance iiith International Standards on Auditing (UK) {ISAs (UK)) and applicable laTr¥. Our responsibilities under those standards are further described in the Audilor s respoK6ibilities for Ihe audil ofihelinanLial slatemenls section of our report. We are independent of the Charity. in accordance 'iih the cthical rcquircmenls Ilial are relevant to our audit of the fiiiaiicial statcinenls in the UK, includiiig the FRC'S Ethical Standard, and I￿.¢ have fulfilled our othcr cthical r¢5pon5ibilitiC5 in accordancc with these requirements. We beliei'e that the audit evideiice we l)ave obtaiiied is sulTieient and appropriate lo provide a basis for our opinion. Conclusions relating to going eoncern In auditing the financial statements, Ive have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statetnents is appropriate. Based on the work we have perfornied, we have not identified any Inaterial uncertainties relating to events or ¢ondilions that, individiially or ¢olle¢lii'ely. maj ¢asl signifi¢ant doubt on the Charily's ability to ¢ontinue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibililies and the responsibilities of the Trustees with respect lo going concern are described in the relevant sectioiis of this report. Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC UHY UHY Ha¢k•rY•un¥ 14 Park Row NOttin9h¥m Nfjl bfjR INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF GIVEWELL UK Other inforniation The ()ther inforination ¢ompri8es the infomiation includ¢d in th¢ annual report other than the financial statements and our auditor's report thereon. The Trustees are res]x)nsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and i¥e do not express any form ot assurance conclusion thereon. Our responsibility is to read the other inforii)ation and, in doing so. consider M".hether the other information is tnaleriallv inconsistent with the tinancial statements OT our know'ledge obtained in the course of the audit, or otherwise appears to be tnalerially misslatcd. If we idcntify such material inLonsist¢ncies or appar¢nt tllal¢rial misstatemcnls, w¢ are r¢quircd to determine whether tliis gives ris¢ to a iiiaterial misstatement in the financial slalements themselves. If, based li th¢ work w¢ hav¢ p¢rforined, w¢ conclude that ther¢ is a material niiqstatement of thiq other inforn)ation, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respecl of the following matters in relation to which the Charities (Accounts and Rcports) Rcgulations 2008 requircs us to report to you if. in our opinion.. the inforination given in the financial statetnents is inconsistent in any material respect with the Trustees, report; or suificient accounting records have not been kept; or the financial slateinents are not in agreement with the accounting records. or we have nol received all the infortllation and explanations we require for our audil. Responsibilities of Trustees As explained more fully in the statement of Trustees, responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are tree frorll material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible tor assessing Ihe Cliarity's ability to continue a5 a going concern, disclosing, as applicable, mattcrs rclatcd to ¥oing concern and using the goiii¥ concern basi5 of accoulltin¥ unless the Trustees either intend lo Cease operations, or have no realistic alternative bul lo do so. Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC UHY UHY Ha¢k•rY•un¥ 14 Park Row NOttin9h¥m Nfjl bfjR INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF GIVEWELL UK Auditor's responsibilities for the audit of the financial statements We hav¢ b¢en appointed as auditor under section 144 of the Charities A¢1 2011 and report in a¢¢ordanc¢ with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. Ivheiher due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee tl)al an audit conducted in accordance with ISAS (UK) Ivill always detect a material tnisstatement when it exists. Misstateiiienls can arise from fraud or crror and are coiisidcred tnalerial if. individually or iii thc ag¥rc¥atc. they could reasonably be expected to influen¢¢ thc economic decisions of uscrs lak¢n on the basis of Ili¢se financial statements. Based on our understanding of the Charity, we identified that the principal risks of non-compliance with laws and regulations related to the acts by the Charity, which were contrary to applicable laws and regiilations including fraud, and we considered the extent to which non-compliance might have a material effect on the tinancial statetnents. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011. We evaluated tnanagetnent's incentives and opportunities for fraudulcnl tnanipulation of thc financial statements (including thc risk of overrid¢ of controls), and detemiined that the principal risks were related lo misappropri&lion of funds. The extent to which our procedures are Capable of deteeling irregularities, including fraud, is detailed below. agreeing a sample of donations from the bank statements through lo the a¢counting software; making enqiiiries of management and challenging their assumptions where relevant- and testing of journals, evaluating whether there ivas evidence of bias by the trustees that represented a risk of material misstatement due to fraud. A further description of our responsibilities is available on the Financial Reporting Council's website at= https'.l/iTh'"w.fTC.org.uklauditorsresponsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that ive might state lo the charity's trustees those matters we are required to stale to them in an auditor's report and tor no other purpose. To the fullest exlent permitted by law. we do not accept or assume responsibility to anvone other than the charity and the charity's trustee5 as a body. for our audit work, for this report, or for the opinions we have fomicd. Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC UHY UHYHa¢k•rYvung 14 Park Row Nottingham NGI 6GR INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF GIVEWELL UK Ug¥ 1310712026 UHY Haekeryoung Date= Chartered Aeeountiints Statutory Auditor UHY Hacker Young is eligible for appointment as auditor of the Charity, bv virtue of its eligibility for appointment as auditor of a cotnpany under section 1212 ot the Companies Act 2006. Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC GIVEWELL UK STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 Unrestricted Unrestricted funds funds 2025 2024 Notes Ineome from: Doiiations 20,450,036 3,465,380 Total income 20,450,036 3,465,380 Expenditure on: Charitable activities 19,484,705 3,176,299 Total expenditure 19,484,705 3,176,299 Net income and movement in fullds 965,331 289,081 Reconciliation of funds: Fund balaii¢es at l January 2025 113,339 (175,742) Fund balan¢es at 31 December 2025 1.078,670 113,339 The statetnent of financial activities includes all gains and losscs rccognised in the year. All income and expenditure derive from continuing activities. Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC GIVEWELL UK BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 Note5 Current assets Debtors Cash at bank and in hand io 1,100,830 2,816,330 133,674 1,033,022 3,917,160 1,166,696 Creditors: amounts falling due within one year li {2,838,490) (1,053.357) Net current as5e¢s 1,078,670 113,3J9 The funds of the Charity Unrestricted funds 12 1,078,670 113,339 1,078,670 113,339 OB/0712026 The financial statements were approved by the Trustees on ......................... E Ha5senfeld {chair) Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC_ I O- GIVEWELL UK STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 202S 2025 2024 Notes Cash flows from operating activities Cash generated from operations 14 1,783.308 62,363 Net cash generated from investing aetivities Net cash generated from fjnancing activities Net increase in cash and casb equiTralellts 1,783,308 62,363 Cash aiid cash cquivalents at begiiining of year 1,033,022 970,659 Cash alld cash equivalents at end of year 2,816,330 1,033,022 Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC_ I I GIVEWELL UK NOTES TO THE FIIYAIYCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 202S Aceounting polieies Charity information Givewell UK is a Charity registered in England & Wales. The address of tl)e registered olTice is givei) in the legal and adiniiiislralive informarion in Ili¢s¢ finan¢ial slaleinents. Tlie naliire of the Charity's operatioiis and principal activitS' is to be the UK presence of Givewell, a non-profit organisation grant making organisation registered as a Charity in the United States under s501(c)(3) of the Internal Revenue Code ("GW US"). 1.1 Accounting convention Tl)e financial statements have been prepared in accordance with the Charities Act 2011, FRS 102 "The Financial Reportiiig Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the CharitiC5 SORP 'Accouiiting and Rcporting by Charilics= Statciiicnl of Recoinmend¢d Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable iii the UK and R¢public of Ir¢land (FRS 102)" (¢ffeclive l January 2019). The charity is a Public Ben¢fit Entity as d¢fin¢d by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going eoncern At the time of approving the financial statements, (he Trustees have a reasonable expectation that the Charity. has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis ot accounting in preparing the financial stalements. J.3 Charitable funds Unrestricted funds are available for use at the discretion ot ihe Trustees in furtherance of their charitable objcctives. 1.4 Income Income is recognised iihen the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income ivill be received. Cash donations are recognised on receipt. Other donations are recognised once the Cliarit), l)as been notificd of tlie donation, unless perfortnance conditions require defcrral of the atnount. Iiicome tax recovcrablc in relation to donations received uiider Gift Aid or dc¢ds of covenant 15 recognised at thc time of the donation. 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party., it is probable tliat a traiisfer of econotnic benefits will be required in settlement. and the atnount of thc obli¥atioii cali be measured rcliably. 1.6 Cash and c#sh equivalents Cash and cash equivalents include cash in hand. Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC_ 12- GIVEWELL UK NOTES TO THE FIIYAIYCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 202S Accounting policies (Continued) 1.7 FinAncial instrumen¢s Thc Cliarity lias elccled to apply the provisions of Section I I '"Basie FinanLial Instrument5. and Section 12 '0tlier Financial Instruiiients Issues, of FRS 102 to all of its fiiiancial instruii)ents. Financial instruments are recognised in the Charity s balance sheet i¥hen the Charity becomes party to the contractual provisions of the instrument. Busicfinancial ussets Basic financial assets, wlii¢h include debtors and Cash and bank balances, are initially measured at tr8¢nsaclion price in¢luding Iransa¢tion ¢osts. Bu.vicfindncittl lirthililies Basic financial liabilitics. including crcdilors and ba]ik loans arc Initially recogniscd at transaction price unless th¢ arr&ngciM¢nt coi)stitutes a financing transaction. Critical accounting estimates and judgements In the application of the Charity's accounting policies, the Truslees are required to Inake judgements, estitnates and assumptions about the carrying atnount of assets and liabilities that are not readily apparent from other sources. Thc estimatcs and associated assuinptions arc bascd on historical experience and otlier factors that are considered lo be relevant. Actual results may differ from these ¢stimai¢s. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is rei'ised wliere the revisioii affects only that period, or in the period ot the revision and future periods where the revision affects both current and future periods. Th¢ Trustees consider the following to be critical judgements.. Unre$trieted donation$ Whilst doi)ors express a preference as to the use of the funds when making donations, the Trustees consider that this is non-biiiding and as such falls short of imposing a restriction in trust lai*. Thcrcfore, the doi)atioiis have been included as part of ullrestricted funds. Donations reeeiv#ble Unrestricted Unrestricted funds fllnds 2025 2024 Donation5 receivable Donated goods and services 20,332,350 117,686 3,381,822 83,558 20.450,036 3,465,380 Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC_ 13 GIVEWELL UK NOTES TO THE FIIYAIYCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 202S Expenditure on ehiiritable activities Charitable aetivites Charitable activites 2025 2024 Direct costs Grant funding of activities (see note 5) 19.335,560 3,240,913 Share of support and goverllance costs (see note 6) Support Goveniaiicc 122,263 26,882 (95,497) 30,883 19,484,705 3,176,299 Analysis by fund Unrestricted funds 19,484,705 3,176,299 Grants payable The charity undertook no direct charitable activities, but awarded donations to Givewell US in the furtherance of its charitable objcctives as a grant tnaking charity. Support eosts allocated to activities 2025 2024 Intercompany operating chargel{credit) Bank Charges and payment processing fees Governance costs 81,494 40,769 26,882 (127,468) 31,971 30,883 149,145 (64,614) Analysed between: Charitable activites 149,145 (64,614) Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC_ 14- GIVEWELL UK NOTES TO THE FIIYAIYCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 202S Support costs allocated to activities (Continued) 2025 2024 Governance eosts eomprise: Audit fees Ac¢ouiilan¢y Legal and professional 17,074 4,267 5,541 20,241 3,870 6,772 26,882 30,883 Tru$tees None of the Trustees (or any persons connected with thetn} received any retnuneration or benefits from the Charity during t]ie year. Employees Tlie Charity has no employees. All a¢tivities were Carried out bv Givewell US staff, this lime has been ¢ov¢r¢d by the int¢r¢ompany op¢raling ¢harge. Taxation The charilv is exeinpt from taxation on its activities because all its income is applied for charitable purposes. 10 Debtors 2025 2024 Amount5 falling due witbin one year: Other debtors Prepayments and accrued income 18,714 1,082,116 17,044 116,630 1,100,830 133,674 11 Creditors: amounts falling due within one year 2025 2024 Amount owed to Giv¢Well US 2,838,490 1,053.357 Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC_ 15 GIVEWELL UK NOTES TO THE FIIYAIYCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 202S 12 Ullrestrieted funds The unrestricted funds of the Charity comprise the unexpeiided balances of donations which are not subje¢t lo specific conditions by donors as ro how Ihey may be used. At l January 2025 Incoming resources Resources expended At31 December 2025 General funds 113,339 20,450,036 (19,484,705) 1,078,670 Previous year: At l January 2024 Incoming resources Resources expended At31 December 2024 General funds (175.742) 3.465,380 (3,176,299) 113,339 13 Related party transactions Givewell UK and Givewell US are separate legal entities. Givewell US is the sole member ot Givewell UK and provides services and support to Givewell UK under the tertns of the Framework Agreetllent agr¢cd to by both or¥anisations. Giv¢W¢ll US is a US 501{¢)(3) registered nonprofit organisalion, lo¢aled in Oakland California. Consolidated financial statements can be found on the Givewell website. During the year, Givewell UK (pursuant to its discretion) made grant commitments of £19,335,560 (2024.. £3.240,913) to Givewell US, its sole metnber. At the year end £?,838,490 (2024= £1,053.357) wa5 owed to Givewell US b). Givewell UK, pursuaiit to the Framework Agreetnent. The current year's intcrcompanl opcralin¥ char¥¢ lotall¢d £117,686 {2024.. £83,558), bcin¥ ¢xpeiiditure recharged from Givewell US to Givewell UK in respect of staff time and irtvoiees paid on Givewell UK'S belialf. During the year, a total of £117,686 (•0•4.. £238,631) relating lo the curreiil year intercompany operating charges was forgiven by Givewell US. In 20?4 the figure relates to three years of re-charged expenditure forgiven. As a result, the current yeals intercompany operating charge £117,686 (2024.. £83,558) was recognised as a donation in kind. During the >'ear, the charity received £8.481.565 {2024.. £1.000) ill donations from one Trustee. Gift aid of £975,000 (2024- £nil) has bccn claimed on thc donations froiii the Trustc¢. Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC_ 16- GIVEWELL UK NOTES TO THE FIIYAIYCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 202S 14 Cash generated from operations 2025 2024 Surplus for the year 965,331 289,081 Movements in working capital: (Increase) in debtors Increasel(decrease) in creditors (967,156) 1,785,133 (13J,674) (93,044) Cash generated from operations 1,783,308 62,363 15 Analysis of Changes in net fllnds The Charity had no material debt during the year. Rsign Envelope ID. ENV5352757&1825-DBAF478>ABEB 13107tt02e 18.06 PM UTC_ 17