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2025-12-31-accounts

GROWING TOGETHER il

REPORT INTRODUCTION Tom Skirrow- Chair of Board As Chair of The Art of Forests, it is a trl￿ FAeasure to present ow fi'rst Annual Report for the year e￿ling 31 December 2025. This first year of being a registered ch8rity tss been cne d steady progress and growing contidence in the value of our commmity. and tts activities. The challenges that face tfK)se working to restore 8ThJ protect nature remain si8nrficant ArourKI the world. practitioners are navigating ir)creasingly complex environmental, fina￿181 and SOCI81 landsc8pes, often with limited opporturwties to learn frLYn one another or access ttr￿ suppK)rt tlw reed. Against this backdrop, The Art of Forests has continued to provide 8 space where pe0F￿e can conrEct across disciplines, geographbes and institutions in a spirit ot friet￿lshIP. reciprocity and shared pwwse. What makes The Art of Forests distir£tive is not simth the breadth of our membership. but the quality of the r￿at￿¢nShIpS wthin tt. We bring tcgether practitioners. project de￿loper$. researchers, tinancier& commurity leaders and others workn￿ at different rKJints in the nature restoration ecosystem. By Creati￿ opwrtunities for honest conversation and pract￿al exchange. we ￿[p br￿ge the divKles that can otherwise hinder progress. Throughout 2025, we cOntin￿d to strengthen ow ro￿ as 8 trusted convenor. Our dialogue initiatives created opportynities for participants to share experiences and perspectrves that are often absent from formal discu￿OnS. ImportanOy, these conversations demnstrated that many of the barriers faced across the sector are shared. even where t1￿Y are experienced differenuy. Part￿1pantS repeatedly highlghted tl Val￿ of devdoping a greater understanding of one another's realities constraints contritMJtir to a n￿re nuanced and colla￿ratIve appr08ch to prOblenF￿1￿r8. ()Jr knoWledge-S￿9rIng work also evolved 0￿r tF year. A great example of our work in practice is a workstream that was lJJilt from earlier discussions around land rights and tenure,. this exparKled into deeper, more practical discuSs￿nS and case studies on communtty berEfit sharing and partsierships. One of the rrnst encoura8irE aspects of t￿se exchanges has been the willirgness of members to share lessons. tools insights that might traditionally remain within indrvTrdual organisations. gjch as management plans or community agreement templates. This generosity reflects the culture that has develcped wrthin Art of Forests reinforces our bdief thgt collective progress depends on openness arKI trust.

8 a small charity, we remain rrdndful of our responsibility to use o resources Careful￿ and effectively. Much of that have achieved h8s been made possible throu8h the dedication cl trustees staff, volunteers 8nd members who continue to cOntrib￿e th￿r time. expertise and energy because they believe in oiK mis&cn. While our tinanc181 and operatbonal capacrty remains n￿dest and u￿eY￿1n. our influence is increasin8ly demor6trat&J through the comectio we facilitate, the conversatKins we enable and the confidence cur members place in our conynunity. None of this would be possible W[[￿Ul those cfM)ose to walk alongsKle u& On behalf of the Board, I would like to eXtL￿d my sincere thanks to our members. partners, supporters and furKlers for IF￿1r continued encouragement 8r)J commitment. I would also like to recognise the hard work a￿1 ded￿a￿Cli of my fdlcfvv trustees ar) everyone invO￿d in tt* day-to-day runrmng of Organisati￿1. As we l(xik ahead. we (k) so with Opti￿1$M. The environment81 challenges we face are profound and urgent, but so tcL) is the determination of those working to address therYL The Art of Forests was fourKled on the belief that meanin8tul change happens through relationships.. by bringing people together. fosterin8 ufKJerstarKJin8 and creatin8 LVWrt￿1tieS to leam from one amther. The experIe￿eS of the past year have ody strengthened that convictiorL l am proud of what The Art (A Forests has aclieved dwing 2025. 8Tr grateful to all those wh) have contribjted to this jour￿Y. Together. we continue to build a community capable of sur4)ortin8 the peO￿e and organisations working to restore and protect nature for the beneh't of pecple and the planet. Tom Skim>w Chair ol TnJstee& l)) of Ttre Art of Forests P(swd d Trus 4 August 2026

Our Charitable Objectives and How We Deliver Them During the year ended December 2025, The Art of Forests pursued the following charitable objectives. Our charitable objectives ale to advance environmental protection for the public benefit worldwide by: Objective I Uniting organisations who are dedicated to the advancement of environmental protection, afforestation, reforestation. ecosystem restoration and nature conaservation. Objective 2 Advancing education by fostering a space for the exchange of information and best practices and to make the useful results and guidance available and accessible for people globally. Objective 3 Fosterng sustainable and resilient livelihoods through. but not limited to. the provision of education and knO￿edge, facilitatK)n of access to technok)gy and innovations, and financial support to encourage tree plantin& agroforestry, conservation and other such activitEs concerning the elimination of the detrimental effects ot climate change and environmentsl degradation.

How These Objectives are Delivered in Practice The Art of Forests gJFPtrts menbers n the desi Mp￿mentati)Tr scaring of their nature-based 8obJtiorts. We h&ft close to 200 I￿1￿￿val membws reryeseniing over 130 org￿lSatIC￿￿ third4 oJr members are ￿er81(S ar￿ devekws n the Fèforestaiim Afftyest8ticn 8rKI Rtor8DCI 4xce whilst others 8re in Fol￿t'SurPcrt' rc4e5 such 85 ttehnc4w. fnance aG8derria. The Art of Forests A¢fvctAtes lorour membas and f￿lIft￿e$ sh8ring irlorm8tv)n cm p￿1￿ updates.. we so ￿ld didogue ￿entS al¢Ming merrtjers to spea direcly ith rewlatw bcMlie5 such &$ carbr sttrKlrxd& pc4y makers in¥eus. The Trt￿lees hwe had ¢JJe regard ￿ the Charity Cr￿mISSi￿.5 gud8rce cffi pl1trA￿ trenelii n Aethrtknce h￿th seeuon 17 of Chariries Act 2011 Tthen makrE decisons enwring cxJr ￿tr¢i￿eS reman fctused cn deSbering p)sni¥e ￿1c(re3 fcK ttre ccrtnmthity we seple. wrth al res0￿¢￿8 de(%cated to charit&)￿ aim& We I￿lIf¢￿e ￿ 0￿r sp￿e fr)r merrters io Cor￿eCt drecdy thdicated Wh8tsApp d￿Me fr>CLksng on IfifferÈnt trpic4 ￿ch As biom qJantlfrCat￿￿ Lgnd riBht4 or FYOPCt mJ)a8emeni 0￿he$. We 4$0 run events tfjsed ￿ the •nèrEeni of tmjf merrbèo nviting wÈrts ta tyesent on sFeeific tLViC& These are he￿ over Zocm Bs we community-only ents vknich 81(M peer-t FEer sharng. supprrt. probkni Nkntrr5 t￿ access ￿CL¥dI￿S of Al past erts ttrwh Shtred online (*Ne.

Introduction Caroline Pakel- Executive Director & Community Lead Whether you are readirg this as a memter. supporter. patron. ambassador of tFE Art of Forests or gmply as sOrrE0￿ curious to more about the Charity its activitE& ￿eaSe be wdcorre! Registsring the Art of Forests as a charity with the UK tharity commission in November 2024 Ma￿ed ttrE ￿xt iteration for a community of land stewards which had 0ri8in8lly grown Or88r￿C811Y 8s 8 need for friendship and help in the desgn, devdoprrEnt 8nd implementation of thar Afforeststion, Reforest8tK)n and Revegetation FKoject. Indeed, when initially laU￿hed by Celia Frarris 8nd Sarah Scott at COP26 in Glasgow in November 2021. our beginnings were veyy humble. It is only ttrNgnks to a sponsorship from Terrafomation that we were able to experiment and eX￿Ore what the ccmmurnty needed for the first ￿rIOd of 25 years. Gaining a charitable status was key to r￿￿1$ of a wider range of funders and Spor￿orS arKI amplty Ihe work cOThj￿t￿l thus f8r. And so it was. as we were granted funds fr￿7) the Robert Bosch Foundation in January 2025. 2025 suddenly became mt only our first operational year as a charity but our first experIe￿e of being funded to a level that allowed tlE implementatior) of solid organisation81 str￿tureS and ￿￿esseS the cor￿OI￿￿a￿Cffi of o kncmledge sharing online platform and the wototyping of acfvocacy work wtth fi'nance. To both TerrafOrmBti(￿ and the Robert Bosch FO￿dat￿n. we remain grateful. For th￿r shared Msion and U￿￿erstandirE of the need for Sljch community as the Art of Forests for thar bdief 8nd trust wlich have ope￿d the door to many new conversatiorn8 8nd possibilit￿& The work to support those wh) protect restore and heal the land and the comMunit￿S who depend on it for t￿1r surviwdl a wellbeing keeps on. We ho￿ to attract contiwed interest from those who can frdcilirate th"s support Mcwi￿ forward. If you are one of them. please get in lot￿h! W*mest wishes. C•rofine hkel Ewuuve Direa(w & C¢ynrrnJnity Le8d 3 AuKu5t 2026

ptslie The work t(bSU4polthose who protect,frestore and heal the land and th£ communitses who de P-D, it for their surviva! a SNellbeing keeps on. 14 jl

Trustee's Report: Highlights of our activities This year was focused on building our membership base and offering responsive support to emerging member needs. Insights raised by members directly shape our planned activities - from launching new workstreams and expert sessions, to conducting surveys, publishing guidance, or convening stakeholders on topical issues. Objective I Uniting organisations who are dedicated to the advancement of environmental protection. afforestation. reforestatio ocosystern restoration and nature conservation. ￿rked on eyarding pbsite to en(nur8ge lo enajle (firtt nah￿)rk￿8 be￿een rrEmtEr5. We set up ￿ inta&tNe trmters rn4)' cffi oJr website, 81wng mwnbers fynd wSi￿r$I to each 01￿ 8btrl reporL w(KEd on B prIV￿e memtrEfS b. b%l)ere memters upload prohles cortA det818.' this is io Iwnch in 202& We oflicialy IwrKhed the Art d F￿e$l$ chwffy Lond<)n Climate Action v￿k in June 202& rasin8 I18re￿$S lor our woth 8rKI tyjr rnembws as ￿11 8s wcking wih m￿Y oiher olg￿l￿1C dsobÈpn a LInk￿lItt cnppA8n ￿1th stt8d in Octc)er 2025 and ce￿￿Th￿ed In￿ 2026,. this has alohed us to ￿cTh￿e our MeM￿r$, the be￿li1$ of tEinE 8 merrtjer. netbth rew rrÉfflbers We grevrf oJr memtership to194 ty the end of 2025 a)gJrirE dl members had ￿CesS toour a￿[￿e tsApp communfty chats." ttre oiSr* sP￿e P￿￿ed ro include over 30 c￿ne￿. We held resporsNe online everts to manbern to 0)nn￿t Pp￿1 8rther cwer Zocm didcELtt.

Objective 2 Objective 3 Advancin8 education by fostering a space for the exchan8e of information and best pra¢ti¢es and to make th8 useful results and guidance available and a¢ce$$ible for people globally. Fostering sustainable and resilient livelihoods through, but not limited to. the provision of education and knowledg8. tacilitation of acce$$ totechnology and innovations, and Ilnancial supportto encourage tr88 planting, a8rotorestry. conservation and other such a¢tivitie$ concerning the elimination of the detrimental effects of climato change and environmental dègradation. We hekl 34 onlire Zoom dakws in 202& wh.ch toteJ￿ 747 inc5vJud registrat1)￿ f0CL￿ed c trpics th8t emer6d from ￿￿nber corwers8tth)ns as timety re￿V￿[. mcA8t ptpukT W•￿￿Stre￿A$ k)r the on L￿￿1 Rghts &rl Ternre. Ic¥ vA)£h ekl three ordine di¥u QLeritC8fiCll frx wtrich %e hekl sevffi try end of ttre ye¥. Our Secret￿al keerts in ccffimuric￿lon with thjr memLws. reaches to new memlers. byho We 8Ctivety ￿kIr￿ 4anst the detriffentg effects of clin&Tr ch8rEe and ￿¥￿Or￿renf4 dey&J8ri(n (￿r Y￿￿kstreamS C￿ 8 wide rry el irtlLdr¥. - Agroftytsiry [re￿I￿AoEY B￿)dIversItY - B￿rro$S Qua)tikAtitin - 8hJe Carbon - C8rbon siw￿¥d5 Hub Y￿rked to laclitste difectcomrrnnicthie between mertjers Fx)1'c￿n8kerS 8nd other srakehcA(kns such as certi￿8￿￿ bcxJie& We A sei& of e￿n[S with reweseniotives fr<Yn the Symb'osis Inves1￿ coaliti)rL as well as dieJ(wes ith matr￿ credii verifi(8tiC 5tWKlwds brxyy - FirnncirE ￿￿Ing FuThSng Opp¢Jtunilies - Rights TenJre - Loed Cixnmurity Engagement - Verra ARR Methodd4ry - PRIMedH InfI￿￿ing - S8feguarcÈ aid ￿1￿1 Irnp￿t - Symb'oss RPF so r&sed &￿renesS drec1￿ Ic¥ tsjr manbers and their This inckJded a ￿rVeY of memters, eX￿er￿eS in C￿￿1)n rn8rkEL wh£h was corrpi intr& a feprt ￿th th quditative and wAnb"tatNe dats andysis in 202& We invite exFerts io speak and present cn specifc t￿1¢ such 8$ T￿¥ Rinwdo cffi tsrmers rn￿8￿1 n8lLwd re8eTwattin {FMNRI ￿ Professcy Shbun l)Jeg8n Ircm ihe Eurcpthn Sp￿e A&wKy. E8th gJest i5 irvited to treir expvtise. but 8&0 f￿1&t￿te n discussion in every sessioTr 81owin8 al merrbets. voices to te Frd. Al e¥er¢s we recc(kn 8r(l ￿p￿￿led ￿ 8 shwed rrÈmbef5' Gwle ￿Th￿R r£ludnE a tr￿cTI[￿ eetw)8 summary, enbt4ng 81 membtrs io 8cctss nformath)n frcm 81 sessicr6 regardbss of ￿l￿tIlty me20ne.

Structure and Governance Structure Reference and Athninistration Details Thè Charity is regBieral as a Chait8trAe Inefjrw8ted (gani￿ll0n (cio). and esia)Ished un(Èr CL)nailuti¢K vA)ich d81es b&k to12th knembef 2(r24. The Art of Fo￿stS is 8 UK Charity ￿￿stsfed 12th ￿￿ernb￿ 2024. The CIO rrthd was c￿￿ed ty itre ￿)m￿sSic￿ r￿￿rÈè tr) re 121C Bowd d Trustees The CIO to wh.eh the tharity is est)&shed ' the Fwndab'on ￿xIe1 its NYJiin8 rrembers are the chwity's trustee& Th) ￿der rrÈmbef5hiB aid a5 of 3Èt tknembtt 2025. Ihere e live trustee memÈer& the of MrT￿Ma$ James Skirnyw ICh&"T. ￿$gnrfj l Mty 2026) MrAndthvHe•kl (Aipoinied l ￿errt) ￿24. Ch sirce l Mty 2026) MrFYedwk (Apwnred I Ith)￿￿er 20241 Mks Fr•rte5e# Matr￿ty IApwirtaJ l Nomter 2024) MrArnlrn¥M•eCtyma￿ IApwnted l Nomter 20241 MrK(11 Dknh (APFQIrt￿ 3 2026) DrTonthoza U8ar¥a (Afpointed 3 M￿ch 20261 Mrlfylll Sh￿d￿ (ApFO1rt￿ 3 Mwch 2026) MrJwnes l•lrritelwl (App)Irt￿ 3 M8rth 20261 8￿teert can becw 8 memter ol ihe chwity. I CIO is up. ttre r￿berS of the CK) rK) ility to contribjie to its ￿lS arxy no p&scrnl respor8bility for setling (is detrts 8nd ￿e￿.￿ties. Governance Ex•cuti%• fArnetor & L• The P4)8rd of Trugtees ￿lminister ihe chtrty." M￿￿n8 the afftirs of the cia ￿ exwosing its py￿r& h sdecting in(fjvidLJd5 fcK ypointrneni ch8rity Speci￿ regbrd to the sklls krK)edg¢ e4)erier￿e fteeC￿d fu the dfeCtI￿ &lrnnisvi of the CK). P Re8ist8r8d xldre8s S8lterton nks Ffeshwatsr The rnj£Yity of board meairgs ty trustees are 4d etrcni0l￿. to minirrise tr￿1 8rKI vronM￿le1 irnplc8tD￿ aid ensure ihe 8ffpir5 the thbrit% detsion rrÉking be rwlwty thrcwtthi ihe ￿. IS￿ CX Wght P040 9ST Ernil address infO￿h￿rt¢j￿C￿e$t￿¢X8 11

Financial Performance The linancid report. 1Th￿pe￿￿en￿Y exwnined ￿ t found In the folowing pes of this rewi. The Trustees bre p￿aSed io rwt thai the charity h& mei wrth trjr Fro'ect's funrth&sing targets in oJr fvst fftr. A totd gmss •M￿nt raised £102,070 Expendtturg tIrt￿￿d £62,161 Net cAsh funds at the ond d tNs fknHnclal year totsllod £39,909 This repui w85 ￿￿0ved the B￿d of TrlE[￿ eit drv He&kl t￿yPerS<In ofthe Board Ch beh4f of The Art of Foresi$ &)wd cl Trus*e8 25 AugLJS= 2C26 12

Reserves Policy The Art of Forests is ￿tIve￿ seekirÉ ln￿$t￿Cted fur(Iing to ￿hleVe tke thsired ￿Ve1 of reserlfft rriiiE8te risk cl unfrxeseen costs and temprK8ry C85h fbw Sh￿1￿&. The Art of Ftrests ￿Se￿S pc4ty r￿eWed updatrd during May 202& This pdry LS Xttvely Moni￿red r￿￿led & ihe P￿l￿d Trustees. m&iin8S tw￿¢ month The trLBtees hwe designated reser￿ whwe thwe e pl￿￿&d crynmitments th8t c￿￿?[ tr mrf trty ttipar&l fuiure intorrE ÈkTr. Ihese res@¥e5 arè oken dohn into a numter OF funds that rel￿e t FU￿1& D•dr•d R•s•p4e8 by.. 3181 D•cwnbw 2025 al Fun topro4i¢ toma8t wlu8seen èy￿0$ £zo E2011 roswve costor fè(wirq fLfftdry loc an w8ent pK)I￿L 5wJ sri months of stwwrt Costs. Pwg)r¥wl Rasw¥• £I&LK)O Tryéo months to&ts ofGrant Irr(y ÉSJ topro4i¢* e4th if (¥￿t IxLYr Cash Fkjw Éio n••J to thcrt-twm dthits ina c8 Wet. for èxam0• mLffiey Tot•1 £2,017 13

tr Art

Independent Examiner's Report Ind8p8nd•nt Examinqrf# r•p(rt to the trugtq•s al ThB Art ol For•sts I to the trustees cn my a8mn8ticffj ol the ￿¢￿nIS ot the &JcF4e chwty f the period to 31st fcerter 202& As the tharily truaÈè5 of thÈTfUSi. IrAJ WÈ responsib￿ fcA thè pryfAtion of ttrÈ 8ccoJnts n ￿l￿darte vlith ihe requrai)ents d the charit￿$ kt 2￿1 {"the Acr J I report in r￿Fect of my e)3mir¢ticfft d the T￿￿'S a(cour¢s ￿rrEd uThJer seciDn 145 of the 2011 Aa and n trwn8 my exvnl￿Dry I fcAbb%Ed thÈ Dl'recti)ns gNen ty the Charity thrrm1ss1L￿ under secti￿7 I￿5)(b} of the Att. The ￿c0JntS W be￿ P￿Fered ￿ 8 Rec8pts Pwmer¢s b8sis in ace0rd￿è with settion r43 crf thè èct l eonh"m thai i trove the rewisite sklis exp￿"e[￿e the In<perTrdeni Ex8min8fi(m ihis chwity 10 tte &8￿rdS feqJired 8s set cxJt li AFpendix 5 c CC32 Atthc￿￿ rebred frcKn 8S an Bttourt8nt ￿ &8 8 rrÉmber of 8 lis￿d professi￿￿ atctyJntbncy bjty. I cortinut tts condud a Thjmber of ertarThriations on voluntary b88iS year. l c(J)fimi th￿laM irKperKknt d the charity as set wi in tJ"recti)n 2 of CQ2 I have comFJeted fty exwninaiitrL I tt￿firn that no mawial mtttters have cfft to my 8ttenti￿ in cc¥v)ecil￿ With the extrnin￿L}ft Thl)Trch gives me cwse to bd¥e that irL 8ry material ￿SPeCt act￿Nting reeords V•rÈ kerrt in ¥bith SÈCXits) IX) Act the èc£ourts do noi Ibith the ￿t￿nt1Th8 l ￿ r#) c(￿eMS Cofre ￿rC8S Th) other rrotters in conrecti)n ￿1h the ey3rninatDn to vthich al￿ntI￿ sh(MJld ￿ drA¥bm in or(r io prcper understsndr4g ol the &c(yJnis to be re&hed. Andrew Mo(e (hdependent Ex•ffdner) Bbawentr¢ Sw￿lIfynmn Ystr8d Pèeurig SY25 6AW 15

Tilrt Financial Statements Financial Statements for the Year Ended 31st December 2025 Charity Registered Number 1210898 I'r . ril.

Receipts and Payments Account The Art of Forests For the year ended 31 December 2025 R•atrkt•d lthr#trfct•d R•e•5pts 82.Tas 3.&)8 8S803 M￿b￿Slip &Jbscipiion8 76248 16248 Ba￿L Cash B8c 19 T•t•l A•¢dpts 81￿5 B275 IOZ070 Ptym•nts Prc4•ct C•%ts A￿￿LI1￿ & Mkètin8 COns￿tarrtS 9.081 44351 E4nt Spx• Hr• 4.3 4380 Sth)mit CLXts 115 s￿•V An&Vsis & R•wtviq l620 1.820 Tra1 & S￿S&s18￿• 3.827 6.282 Tat•l Pril•et Costs 43353 644 $8.$97 SUp￿rt Co¥t• £CO￿¥￿V Fees 40 40 8ard( Fws compl￿•c(¥￿ 85 85 IT &)ttw￿8 & Cel)￿mabl&S 4XJ lJ34 l664 3￿) 512 Pay￿nt S•Thi¢ F••$ 770 770 SthLYioDns 189 169 Tr￿n1￿ & D•VjpM￿t Website Dw•bpM￿l & H(tng llo T￿•1 suP￿rt Costs 950 1614 3.S64 Totsl P•ym•nts 44x13 17.258 N•t he•lpt• & Payrmnts IMo¥•mffit kn Funth 37.892 39.909 Tat•l Fundiewrl•d lo￿Vd ••at 31* D•e•mb•Y 2025 37.892 39.909 17

Statement of Assets & Liabilities The Art of Forests As at 31 December 2025 31 O•t 2025 Ass•ts CA%h and h)d 39.￿9 Tatd CUrr￿t AM•ts Furds 37B92 Lkyestr￿e¢j FurKts 2017 T•td Funth The Fnanckal St&eM￿lS were appythed and Jihorised ICY i8S￿ try the Tru8e8 ( 25 Augus: 2026 J sigred on their teh8f ty. Andrew Herjd Ch&ir of Trustres The rw)tes on pg8e 19 form of these fin￿CId sts*ments. 18

Notes to the Financial Statements The Art of Forests For the year ended 3tst December 2025 l. Accounting Policies 4. Transactions with trustees B•sls olAeeountlr There tfe Th) during the reLgted io trLtstres' rernurer8ti)n ber￿fvtS. tr11s￿e w&5 These aCc￿ntS we on 8 rec8pts payments b8si4 lolbbvng best FY&lise as l&d dtr+￿ in statwwt of reCcmm￿jed ￿￿￿t￿e"Ac0)Urtln8 d Rep)rting by C8riies" ISORP2019). Tmih al rtswxjè apèns& shovm on a eAsh b&i p•d £50.S) ￿t-to-Pr￿kE[ travd &pense& 5. Transactions with related parties Fund ACc￿ntI￿ Un￿tric￿d fuTrJs we w81J)le fu L￿e a itre dsue1￿ of rhe trLEtees in ￿rther>￿e of itre g￿Er81 d)&rit8b￿ Obl￿11¥e$. Restrrted furyls We donthl fc 8 P&trubr prq￿t ￿ PLfFose. itre L￿e of thich s reStr￿ted ￿ thai ryqert cx Pur￿5& These ￿lIde attirE grart5 ayj contracts from irdivJuds i)StibJtwx6 Ic yoMs)n of SFecth'c ￿tiVitIeS iy There we no tr￿SaCtI(￿S during the with itrtsae pefSCfftS enDtits t￿1 we dosely conneaed with Ihe ch¥i(y cf its trustees (rebted wrties). 6. CIO guarantees and secured debts 2. Going concern The irustees corlirm n fLcc¢darte vrfith the Ch¥itatAe Ir￿c￿3￿d Org￿l58t1CfftS IGènef8D Re￿IstIc￿5 2011th￿ at the￿Ar the Clodid not ha¥eAry oJtstsN&ry8 gU&￿te& to tliTd p&ties nor any thbl Se0J￿ C￿ assets of the CD. The therity i8 c)er8ting cn a &rJirE o)nwn b8si& )ing coyern assessment is the bo8rd of trustees vthth h&5 a rea&&Jlè th the Art ol Fcxests has $Jf￿len1 res(NJrces to Cl￿tI￿Je n orErh)n ar le8St 8 ye8r frcm ihe d*e c 5EninE tti5 trustees reput ar￿ ftr thè foreseetsb￿ futu￿. 3. Charitable activities Grant& FI0￿rt Boxeh Stiftth8 Unr•stTrkt•d 202S R•stAet•d 2025 Toial 2025 8Z795 .Tr5 81795 •Z795 19

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