Charity number: 1203699 NICE RICE FOUNDATION UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NICE RICE FOUNDATION CONTENTS Page Rofvron¢o and admlnistrativo dots11$ of the Charity. Its Tru$tsos and advisors Trustees. report Statsment of financlal a¢tlvltl•• Balance sh88t Notès to thè financlal tstatsmènts 7-12 NICE RICE FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees F Osullivan. Chair P Patel. Trustee M Gopinathan Nair, Trustee Charity registsred number 1203699 Prln¢lpal 0ffi¢o MissionvK)rks 41 lffley Rr)ad London W6 OPB Accountants Donald Reid ￿Mited 1010 E$kdale Road Winnersh Wokingham England RG41 5TS Sollcltors Broadfield Law UK LLP One 8artholomew Close London EC1A 7BL Page 1 NICE RICE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual rew)rt and financial statemen15 for the year ended 31 March 2025. Objectives and activities a. Policios and objèctiv•$ The objec15 of Nice Rice Foundation (the Foundalionl are.. To advance such charitable purk)oses (according lo the laws of Englan¢J and Wales) as the charity Iruslees see fit from time lo lime induding but not limited to the". preservation and conservation ol the environment., relief ol poverty wlh a focu5 on supporting communities to generate a sustsinable income and be self- sufficient", and advancement of education, in particular but not exdusively by way of providing grants and other setvices. The Foundation wll provide grants to individuals and registered charities that are working to deepen the environmental and social benefit of sustainable rice farming wthin the rice farming communities of India. b. PuWl¢ benefft In setting the objectives and planning the ath'vities. the trustees have given careful consideration lo the Charity Commission's guidance on public benefft. A¢hl•vom•nts and porfom)anco . Achlov•monts In the financial year ending 31 Mar¢h 2025, the Foundat￿n m* a granl lo Manav Vikas Sansthan. a nol-for- profit organisation registered as a society under SR aci XXI 1860 in India. The purpose of the grant was lor the promotion of environmentally-ftiendly famiing practices or paddy and wheat including.. 111 sustainable stubble management or crop residue management and Ibl promoting water saving practices in paddy and wheal crop through DSR and Zero Tillage. Flnanclal rgvlow a. Golng concern The Iruslees are satisfied that the Foundation 13 a going concern and able to meet all its future commitment5 a5 and when they fall due. b. Reserves policy It is the policy of the trustees to maintain sufficient unrestricted funds and the trustees consider that the level of reserves hdd is adequate. Page 2 NICE RICE FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 ¢. Flnanclal revlew and funding The Foundation's income for the year was £8.25212024'. £Nil}. The Foundation's expenditure for the year was £4,20712024." £Nill. The Foundation had £87312024.. £Nill cash in the bank * the end of the financial year. d. Rlsk manag•m•nt The Iruslees have considered the main areas of risk arKI are of the opinion that the Foundation has the resources and systems that, under nomal condits"ons, will allow these risks lo be mitigated lo an acceptable level in ils day-to-day operations. Structuro. govornanc• and managoment a. Con$lilution The Foundation is a registered chanty, number 1203699, and is govemed by ils CIO conslilulion. b. Tru8t••s The power to appoint new or addrtional trustees is vested in the member. The number of trustees shall not be less than three.. there is no maximum number of trustee$. All charity trustees shall be appointed for a term of three years at the end of which they must retire. Upon retirements, the trustees shall be eligible for re-appoinlmenl lor up lo three con5ttubve lems unless the member is of the opinion that il would be In the interests of the Foundation for them to Serve an addrtional lem not ex¢eeding th￿e years. c. Govornanc The Foundation was registered as a charttsble incorporated organisalion wth registered charity number.. 1203699 on 23 June 2023. The Iruslees during the year ended 31 March 2025 V•Ere.' Fergus O'sullivan IChair} Malavika Nair Gopinalh Preena Patel Future plans The trustees have monftored the impact of the grant made to Manav Vikas Sansthan and are considering how it can further support the organisation with additional grants, in addition to considering other potential grant recipients to support in the next finanaal period. Page 3 NICE RICE FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Statsment of Trustees. rnsponsibilitiey The Trustees are responsible for preparing the Trustees. report and the financial statements in accordance with applicable law and United Kingdom Accountin9 Standards Iunited Kingdom Generally Accepted Accounting Praclicel. The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of rf(s incoming resources and application of resources, including rt5 income arKI expenditure, for that period. In preparing these financial stslements. the Trustees are required lo". select Suitable accounting policies and then apply them consislenuy,. obseNe the meth¢xls and principles of the Charities SORP IFRS 1021,. make judgments and accountsng estimates that are reasonable and pnjdent., stsle whether applicable UK Accounting Stsn(Jards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial slalements on the going concem basis unless il is inappropriate lo presume that the Charity wll continue in business. The Truglees are responsible for kee￿.ng adequate accounting records that are suffirAenl to show and explain the Charity's transactions and dI￿10$e wrth reasonable a¢¢ura¢y al any time the financial position of the Chanly and enable them lo ensure that the financial stslements comply wth the Charities Aet 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Twsl deed. They are also responsible for Safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and dele¢lion of fraud and other irregularits'es. Approved by order of the members of the board of Trustees on 29 January 2026 and signed on their behalf by.. frJ£- F Osullivan Chair Page 4 NICE RICE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unre$trlcted fvnd$ 2025 Total fvnds 2025 Total funds 2024 Income from: Donations and legacies 8,252 8,252 Total incomo 8,252 8,252 Exp8nditure on: Charitable acliwtses 4.207 4,207 Total 8xp8nditure 4,207 4,207 Ng1 movement In fund¥ 4,045 4,045 Rocon¢llSatSon of funds: Net movement in funds 4,045 4,045 Total funds carrfod for4vard 4,045 4,045 The Statement of Financial Activities inclutles all gains and losses recognised in the year. The notes on pages 7 to 12 form part of these financial statements. Page 5 NICE RICE FOUNDATION BALANCE SHEET AS AT 31 AIARCH 202S 2025 2025 2024 2024 Current assets Debtors Cash al bank and in hand 4.252 873 5,125 Current Ilabllltl•s Creditors.. amounts falling due within one year 11.OJOI Net current assets 4.045 Total a8¥0ts l••• current Ilabllltles 4,04S Not ass•ts •xcludlng penslon a8S•t 4,045 Total net assots 4,04S Charlty fund$ Unrestricted funds 4,045 Total fund8 4,04S The financial stslements were approved and authorised for issue by the Trustees on 29 January 2026 and signed on their behalf by.. F Osulllvan Chair The notes on pages 7 to 12 form part of these financial statements. Page 6 NICE RICE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 General infomiation Nice Rice Foundatson is a charitable incorporated organisalion, registered In England and Wale5. In the event of the charity being wound up. the members of the ¢harilable incorporated organisalion have no liability lo contribute to its assets and no personal ￿sponsibl11fy for settling its debts and liabillies. The charity's registered number is 1203699 and registered office is Missionworks, 41 lffley Road, London, W6 OPB. Accounting poli¢ie$ 2.1 8a818 of proparatlon of fin•ncl•l ststèm•nts The finanaal slalements have been prePa￿d in ac￿rIance th the Charities SORP IFRS 1021- Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffecbve 1 January 20191. the Financial Reportin9 Standard applicable in the UK and Republic of Ireland IFRS 1021 and the charib.es Act 2011. The financial slalemenls have been prepared lo give a Irue and fair, view and have departed from the Charities