## **Trustees’ Annual Report and Accounts** **For the period 09 November 2023 – 31 March 2025** ## **Reference and Administrative Details of the Charity** ## **Charity name** Huang-Martinez Foundation ## **Charity number** 1205645 ## **Legal form** Charitable Incorporated Organisation (CIO) – Foundation Model ## **Registered address** 4 Clayton Mews London SE10 8HZ ## **Trustees** - Agustin Nicolas Martinez Capdevila (Chair) – appointed 09 November 2023 • Zhenwei Huang (Trustee) – appointed 09 November 2023 There were no other trustees during the reporting period. ## **Key management personnel** The charity had no key management personnel, either paid or unpaid, during the reporting period. ## **Structure, Governance and Management** ## **Governing document** The Huang-Martinez Foundation is a Charitable Incorporated Organisation (CIO) and was established on 09 November 2023. The charity is governed by the following documents, all adopted on 09 November 2023: - The Objects of the CIO document - The Foundation’s Constitution - The Foundation’s Grant Making Policy In addition, the trustees have adopted the following policies and procedures to support effective governance and financial stewardship: - Financial Reserves Policy and Procedures - 1 - Internal Risk Management Policy and Procedures - Investing Charity Funds Policy and Procedures - Trustee Conflicts of Interest Policy and Procedures ## **Trustee appointment and induction** The trustees were appointed as the founding parties of the Foundation. Given the size and nature of the charity, trustee induction is conducted informally and includes familiarisation with the governing documents, relevant Charity Commission guidance, and the charity’s policies and procedures. ## **Governance arrangements** The trustees meet as required to administer the charity and make decisions relating to strategy, grant making, financial management, and compliance with regulatory obligations. The trustees are responsible for ensuring that the charity operates in accordance with its governing documents and applicable charity law. The trustees confirm that they have had due regard to the Charity Commission’s guidance on public benefit when reviewing the charity’s aims and activities. ## **Objectives and Activities** ## **Objects** The objects of the Huang-Martinez Foundation are set out in its governing documents. The charity was established to pursue these objects exclusively for the public benefit. The objects of the Huang-Martinez Foundation are: For the public benefit, to promote the education of young adults and children under the age of 25 years in the United Kingdom in such ways as the charity trustees think fit, including by: - Partnering with local charities to provide access to education in areas of challenging social and economic conditions; and - Awarding to such persons scholarships, maintenance allowances, or grants tenable at any university, college or institution of higher or further education. In furtherance of the object above, to develop the capacity and skills of: - Young children under the age of 16 and young adults under the age of 25 who are members of the socially and economically disadvantaged communities of Northern England, United Kingdom, in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society. For the public benefit, to develop the capacity and skills of members of the socially and economically disadvantaged communities of: - Northern England, United Kingdom, 2 in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society. The prevention or relief of financial hardship in the United Kingdom by providing or assisting in the provision of education and all the necessary support, including the making of grants, designed to enable individuals to generate a sustainable income and be self-sufficient. To act as a resource for young people up to the age of 25 living in the United Kingdom by providing advice and assistance and organising programmes of physical, educational and other activities as a means of: - Advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals; - Advancing education; - Relieving unemployment; and - Providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons. ## **Public benefit** The trustees have considered how the charity’s activities during the reporting period furthered its charitable objects and provided public benefit. The charity’s activities are intended to benefit members of the public who fall within the classes of beneficiaries defined in the governing documents. ## **Achievements and Performance** During the reporting period from 09 November 2023 to 31 March 2025, the Huang-Martinez Foundation focused on establishing its governance framework, adopting key policies, and preparing for the delivery of its charitable activities. During the reporting period, the charity’s primary focus was on establishing its operational foundations and identifying a suitable partner organisation through which it could deliver its charitable objectives. The trustees identified Ambition Institute as the charity’s first delivery partner. A partnership agreement was drafted and executed in September 2025. As the agreement was finalised after the end of the reporting period, further details of this partnership and the activities arising from it will be reported in the next Trustees’ Annual Report. No grants were awarded during the reporting period. However, the trustees successfully opened a bank account for the charity, enabling it to receive funds and make grants in future periods. 3 ## **Financial Review** ## **Financial position** There was no income or expenditure during the reporting period from 09 November 2023 to 31 March 2025. ## **Reserves policy** The trustees have adopted a Financial Reserves Policy to ensure that the charity maintains an appropriate level of reserves to meet its ongoing obligations and to manage financial risk. The level of reserves is kept under regular review by the trustees. ## **Investment policy** The trustees have adopted an Investing Charity Funds Policy and Procedures. Any investments are made in accordance with this policy, having regard to risk, liquidity, and the need to further the charity’s objects. The charity is not registered with HM Revenue & Customs. ## **Principal Risks and Uncertainties** The trustees have identified and assessed the principal risks facing the charity, including but not limited to: - Financial sustainability and reliance on limited funding sources - Trustee capacity and governance risk - Regulatory and compliance obligations Appropriate policies and procedures have been adopted to mitigate these risks, including financial controls, risk management procedures, and regular trustee oversight. ## **Plans for Future Periods** In the next reporting period, the trustees intend to: - Continue working with Ambition Institute to deliver activities aligned with the charity’s objects; - Seek additional charitable partnerships through the professional and personal networks of the trustees; and - Begin awarding grants funded through donations from the trustees and the return of capital from investments transferred to the charity as day-one capital. 4 ## **Statement of Trustees’ Responsibilities** The trustees are responsible for preparing the Trustees’ Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). ## **Approval** This Trustees’ Annual Report was approved by the trustees and signed on their behalf. **Name:** ______________________________ Agustin Nicolas Martinez Capdevila Chair of Trustees **Date:** ______________________________ `29 Dec 2025` 5 ## Accounts ## **For the period ended 31 March 2025** ## **Statement of Financial Activities (SOFA)** ||Unrestricted £|Restricted £|Total £| |---|---|---|---| |Income|0|0|0| |Expenditure|0|0|0| |Net income / (expenditure)|0|0|0| |Funds brought forward|0|0|0| |Funds carried forward|0|0|0| ## **Balance Sheet as at 31 March 2025** ||£| |---|---| |Fixed assets – Investments|142,054| |Current assets – Cash at bank and in hand|0| |Total assets|142,054| |Creditors: amounts falling due within one year|0| |Net assets|142,054| ||| |Unrestricted funds|142,054| |Restricted funds|0| |Total funds|142,054| ## **Notes to the Financial Statements** ## **1. Accounting policies** ## **Basis of preparation** The financial statements have been prepared in accordance with the Charities Act 2011 and FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland, including the Charities SORP (FRS 102). The charity constitutes a public benefit entity. ## **Going concern** The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The financial statements have therefore been prepared on a going concern basis. ## **Income recognition** Income is recognised when the charity is legally entitled to the income, it is probable that the income will be received, and the amount can be measured reliably. No income was recognised during the reporting period. ## **Expenditure recognition** Expenditure is recognised when there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount can be measured reliably. No expenditure was incurred during the reporting period. ## **Investments** Investments are recognised at fair value at the balance sheet date. Any gain or loss arising from changes in fair value is recognised in the Statement of Financial Activities. ## **2. Investments** At 31 March 2025, the charity held investments with a total fair value of **£142,054** . These investments represent assets transferred to the charity as initial capital to support the charity’s long-term objectives. ## **3. Funds** All funds held by the charity at the balance sheet date are unrestricted funds. ## **4. Trustees’ remuneration and expenses** No trustees received remuneration or reimbursement of expenses during the reporting period. ## **5. Related party transactions** There were no related party transactions during the reporting period. ## **6. Post balance sheet events** After the end of the reporting period, the trustees commenced negotiations to exit certain investment positions held by the charity. This activity is intended to increase liquidity and enable the charity to more effectively support its charitable objectives through future grant-making and programme delivery.