2024-03-31-accounts

o? Glasspool Charity Trust ANNUAL REPORT % AND ACCOUNTS .

CONTENTS ABOUT US 02 About us Gla55pooI Charity Trust IGi3sspool) is leading grant-making char5ty provTding grants to indivlduals experiencing financial hardship. We have been maklng a mÈaningful dlffeience to the Ilves of Indivlduab, couples and famllies for over 85 years. 03 Ourchalr and CEO st3temenr 04 Our Essentlal lfving Fund grnnrs 202312 05 Case study We locus on allevlatlng immedlate financlal pre55ures through grants to help people acr055 the Ul< navl8ate challen¥ng times wSth dignlty a ienewed sense of hope. 06 Our Strate￿¢ Direction Our Theory olchange We were founded In 1939 wlth a permanent endowrnent ffom ftlchard Louveteau GlèsspooL Hertfordshlre bu5ine5s man and philanthroplst. H15 personal ftnanclal stru8gle5 as • young man Insplied hlrn to a55iSt others faclng 5imliar hardsh5p. A5 a result he has kft a lastlng legacy. Th15 le8acy contlnued dvrlng 2025124 ènd WILL iemaln for many year5 to come. 07 Ovr 5ir3legy Map Our Value5 08 From strategy lo actlon-the Fiexrble Frtsntllne Fund 09 Overall re5ponslblllty for Gla$5pooI Iles wlth our elght trustee.(51rector5. They bring a weolth ol inslght from thelr professSonal and voluntary roles. including expertise In advlce. re5ear¢h. perlormante a$5e55menl, èccountlng Investments and human resources. InipiementSngthe FleNlble Frontllne Fund,. Phase i- RecruStlng our frontline partners 12 Our flexlble Fiontllne Fund Grant DellveryPartner5 2024125 Throughout the year, we a150 benefitled frgm the voluntèry experdse ol è tiustee-dliector In-waltln& who contrlbuted fronlllne ¢Jellvery expertlse, and 5peclal ath15er for investments. 14 Our Governance 15 Our siaff telm Includes Chlef Execuiive Officer, Head of InnovatSon lrnpacr. a Grants Officer an¢ an As515tant Grants offi￿r. Our Flnanclal ftev5ew 19 Trustee-Dlrettors' Remorf¢s on theAnnual Flnancial Statements 20 Detalls ol theTw5t,11gTrustee.Dlrettors. Staff and ALfvis2 22 Annual Accounts ALGL455PQOLQPA4N¥IRusr AWJALftEpoofANDK(OWnS

OUR CHAIRAND CEO STATEMENT We were thrilled to 51art the year by launchlng our new Strategy Investing in people's current ondfuture live5 2023-28. which outline5 our plan5 to mal(e an even greater impact for individua15, couple5 and families aCTOSS the Ul(. through a btild and ambitious approach to disbursing grant funding. Thi5 appreach wlll be Feèlised throu8h our newly deslgned grants programrne, the Flexlble Frontllne Fund. Through thls programrne we wlll provtde block grants ro Ifontline organlsatlons who will work closely wlth Ihelr service user5 to allocate our grant funds. We be15eve thls approach Wh￿ be more effective and empowerlng for Indlvldvals experlen<lng financlal hardshlp, glvlng them more cholce and control over how ènd when they use Gia$sPoolgrant fundln& ALLOCATED A RECORD BENEfiTTED OVIR £2.2 MILLION 11,830 ADULTSAND CHILDREN To prepare foi the launch ol the Flexlble Frontllne Fund, Ihroughout much of the year we <gnducted a rlgorous and transparent recrultment piocess to select frontline grant dellvery partner5. We rece5ved 563 hlgh.quollry appllcations and v55ng a stllJClured ès5essmenl proces£ we were able io select 50 org)n15alion5 from acr055 the VK. In Ortober. we sadly 5ald goodbye to Robert Blmlngham, a Icng"5tandlng and much vave Irustee.dlre£tor. Slncejoinln8 Glasspool In 2C4)8, Robert provlded profes51onal expeitlse on dlsablllty Issues and h2l¢J promlnent leadershlp roles within our gran15 sub-comrnlttee. However. we were dellghted to welcome Yu5uf Ibrahlm ho Stepped up to the full board, havlng prevlovsly been a trustee-dliectow In-waltlng wlth Glasspool slnce 2022. 363 HIGM.QUALI'r¢ APPLIC.AflONS IIECEIVED It ha5 been a very bv5y bvt excltlng yearfor everyone Involved wlth Glasspool. As we bid fèrewell to the E5sentlal Llvlng Fund, we eègerly look forword to Implemenilng the Ftexlble Frontllne Fund In the year ahead. fLIys As well a5 settlng up the Flexlble Fr¢tntllne Fund, we contlnued to dellver our flagshlp grants prograrnme, the Essentlal Llvlng Fund. Wp allocated B recoid £2,2m In grants, our hl8hest ever.The5e grants benefitted over 11.830 adults and chlldren. A fiiiing tribute lor the finalyiar of thls programme. Ilerrf Phllllps Ch?Ir ol tru5tee-dI￿Ctois of GlasspotrlCharltyTw5t Julle Green ceo of Giasspool ChèrllyTiust OL¢W￿OL(lI1ft￿TRuSr A￿￿lL￿POR7￿II9K￿￿1jFs

OUR ESSENTIAL LIVING FUND GRANTS 2023124 Ouring the year we continued to deliver our flagship grants programme. the Essential Living Fund. The total funds approved wa5 £2.2m our highest ever grant allocation. PEOPLE 11,830 people supported 5,857 households supported GRANT5 grants approved tola number of Items approved £2.2m io0% Top Item5 approved valve ol grants approved appllcations recelved were assessed In under ten worlilng days, over 99%1 five days or le55 2,028 938 beds and bedding ¥va5hing machine5 1,280 1,45711 flooring cooker5 184 1"& cloth7ng THANK YOU We would lilie lu Iliaiil< tlio Ihousènds af.fro￿111fte support viorkers who have submillp(l Liranl applications ID Glosspool ()vvr the last 85 yea15. Your dedication nd ofltsrt5 rn&lID 0111 work po%%ibl ILCWSPQOLUlmlfiU5T IIINUALREPWO2IDACCOUNT5

I CASE STUDY DEIRDRE'S STORY 66 Glasspool helped me 50 much. They enabled me to mal<e a nice homo and gave me and my daughter the ability to live healthily and happily.99 Deirdre is just one of the 11.830 people whtr were allocated a grant from the E55enlial Living Fund programme during 2023124. .1 had to dlstance ryself from the communlty I've been a pwt of all my Ilfe to protect my family'5 safe¢y. I moved Into temporary accommodation Ithlu5la small carrier ba8and the clothe5 on my back. The fridge In the ftat Was far too small to hold my daughter's medicaticn. The ftatalso dldn't have a £lothe5 dryer. Thls wa5 hard lor me becau5e15vffer from Inconilnence so I need to wash rny clothes every day. A lovely lady from a charltywho w¥5 helplng me sald she'd apply to Glb55pooI for a giant for some appllances, io help us 5¢ay cleaft and safe. Quickly afterwards She called to sayG1055poolwoul(S be gifting me a fildge.freeier an(J a dryer. I was so hèppy. Ir felt Ilke a weiBht had been Ilfted off my bacli. No cne ha5 ever been that klnd to me. stopped my ￿XIety about keeplng mydauEhlerfs rnedicatlon safe. We stayed In the ternporary flatfor elght before movfjng to our new forever knme- a twct bedroom maisonette. I was overthe moorL I was ble to brfng my new dryerand fridge.Ireezerwith me, bui the malsonette had no oven. ThE n1ce lady 5ald that once a8aln Gla55pooI would ceme tothe. rescue. Not long aftei, an oven was dellveredand set UP so 51 was ieady for me to use. Glasspool helped me so much, They enabled me to make a nlce home and gave ME and ry daughter the ab111ty to live healthlly and hèppily. I can'i ever thank them enough, We're saf4 thmfortable and readyto start the next chapter ol our Ilve5.1've suffered from anNletyand depresslon. Ive been at rock botto￿ but I feel Ilke thlngs are on the up." From dtyone the newfrfdge-freezer and dryer made such a (fifference, It stopped me feellngembarra5sed about my condltlon and It 'LGiAS5PQULC+L4IITYTftusr

OUR STRATEGIC DIRECTION PURPOSE AMBITION P051TIVE CHANGE During 2022123 we developed our shared vision for the difference we wanted lo mal(e in the world and a iefreshed sense of purpose. In 2023124 we started to implement this vision. We were clearwe wanted to continue to Use our resources te support Indlviduals emperlenclng finèr5cSal hardshlp. We recognlsed that a strong reiatlonshlp between an IndI￿duaL and thelr frontilne support worlch outllnes how our gran¢-rn4klng wlll lead to posilivÉ change for grant feclpient5. OUR THEORY OF CHANGE WESUPPORT WE fiECRUIT WE PROVIDE grants ftrr Items 3nd services (￿Sen by indivldvals In dlscussion with theii frontline supportworlier people In the UK expeTlencing financlal hard5hlp frontline SUPPOft organlsatlons that provlde qualSty, whole-per50n packages ol support to deilver our grants +°+ OX WEENABLE We CONTftIBUTE WEASPIRE grani reclplenis to.. 5rnprove theli financlal towards bulLdlng financlal resIllen￿ and reduclng financlol dlstress by provldlnB tlmely, Ille-enhanclng svppoit ro people Ilvlng In financlal hard5hlp to a 50clety In which everyone ha5 the resources theyneed to shape rheir lives and look forward to tomorrL feel betiei able lo manage their lives hove a more settled home ALGWOOLCXIIITYTAV51 ANNUALftEPORYINDACCOUMTS

We used DurTheory of Change framework to develop a 511aregy map thatwlll gulde our strateglc direction over the nemt five year5. Th15 map oulllnes the v31ue5 thè¢wlll undeipln ourlourney, a5 well a5 the vlslon. mlsslon and programme outcome5 we wlll work towaids. through ourgranl-m3kpn& OUR STRATEGY MAP Our iiision &veryonè hès the resource5 they need to Shape Iheir lives and look lorviaFd lo tomorrow Our values DEDICATED EVOLVING COLLABORATIVE UNDERSTANDING Our mi5SlOn To increase finanr.ial fe5ilience and'reduce fin4nclal dlsiross by provldlngtimoly, Ille-enhanclng suppori to people In financlal hardship Ou* outcomes Grant recipien15 havc an improved Ourprogramme The Flemlbl Fronlllrie Fund Grant recipientr feel bettor able to mano8e 1 morc s?Iiled hothe Evaluation OUR VALUES DEDICATED EVOLVING We dellvef In the best waywe can We malntèin hlgh personal and prolesslonal srandaid5 • We embrate new Idea5 so we can respond to changlng woild • We evèluale ID learn and adapi COLLABORATIVE We provTde choice through Involvement We wgrk wlth others to achleve more UNDERSTANDING We focu5 on the people we support We value difference an treat eveiyone with respect rtLGLb55POOLCTrk•JiNYTRUST 4NNUALkEPORT AIIDfyttOUIIIS

FROM STRATEGY TO ACTION Purpose The overall purpose of the lund15 to Increèse financlèl well-belng Ind reduce fina￿la1 di5tre55 fw individuals experlenclng financial hardshlp. Outcomes The fund ha5 three strateglc programme outcome 6 Grant recipients have an improved financSal p05jtlon O Grant reclplenis ftpl betterableto managethelrlive5 6 Grant reclplenis have a rnore settled home The pro8ramme outcomes wlll be achleved by.. O Recruittng frontllne dellverypartners who offer quallty. whole-person support Q Offeilng 8rants lor Items or seNlces THE FLEIIIBLE FRONTLINE FUND Tho FLÈxible Frontline Fund vrill operate from l Apiil ?.O?.li 10 31 March 2027. How will it worl(7 STEP I PEftSOII 5EEI<S HELP STEP 2 ONE-TO-ONE ASSESSMENT STEP 3 GRANT DELIVERY PARTNER ASSESSMEKr AND APPROVAL STEP4 GRANT DEIIVERY PARTNER ORDERS ITgM Together, the Sndivldual and support wollier declde how 10 use granr to access service andlor. PU￿haSe an Item Support worker eompleres necessary processes Internèl manègernenl approve grant request GRANT OELIVERY PARTNERS Indlvldual recelve5 the itemlservice wlthin a package ol suppori Grant funding Grant Ivndingcan be useLf for avarlety of goods and service5tha¢allevlate financSè1 haidshlp forindlviduals.Allgranttxpendlture must<ontrlbut¢ to at leasione ol the specSfied programme outcome5. Ellglble vses Include household Item5,traYel, personal Identification documents. food, utiutlès, Èmergency accommodallorn phones and security dèvlces, We antlclpate that this list will grow as Indlv5duals and 5VPPOrt worl(er5 become moreconfident yn u55ngthe fundingto mal(e the gfeatest dlfference lo people's1Sves. nLGLIWQOLOWryYTqU5T A￿￿￿￿L￿EPOllT AFIDAttOU1115

IMPLEMENTING THE FLE)IIBLE FRONTLINE FUND PHASE I.. RECRUITING OUR FRONTLINE DELIVERY PARTNERS RECRUITMENT TIMETABLE Promctlon and awarene55 raising bout the Flexiblè Frontline Fund 2023* ,YA'I JULY ()PFfrIS SAP.RIL CL05fs IgJuNE Flexible Frontline Fund ppllcatlon wlndow Due dlligenie. intervlews, 51te vlslts DECEMBEri NOVFMUFII OCTOE41ti tsEPTEMBFR UCIllSF Board confirms Gran¢ Dellvery Pèitner FFr. GOES 2024 Preparatlon JAil'UAI£Y r.IBr<uAI<Y Apf¢iL PROMOTION To a¢hleve our alm ol u51ng open aThJ Incluslve approaches to promote the opportunlty to become a 8rènt dellvery partner for the fund, we underiook the followln • We comml551oned a that we uploèded to our web51te. We contacied aUsupportwoFl<ers who had applied to our E55entsal Llvlng Fund slnce 2016. We advertlsed vAdely thiough voluntary and £omrNnlty Sector netwoiks. • We held three weblnar5 In AprlL May and June 2023. Neaily I,CKJO people attended. We a159 publlshed the weblnai slldes and answers to qvestlons ralsed. ensurlngthat those who could not attendwEre 51111 able to a£¢e55 the Inlormètlon. Ihroughoutthe 11-week appllcatlon wlndow. Glasspool staff were avail3ble to respond to wrltien questlens and phone enquliles. 66 Glasspool Staff are always very helpful and approachable. 99 IGLISSPQOLcwnYrftusr INNVALnEPOITAHDACCOLWTS

APPLICATION From 3 Apr51 to 19 June 2023, frontllne organisation5 were invlted ro complete an onllne appllcatlon form the following inforfflatl0n'. Contact details, includlng registration wlth ulatory bodie5 • AgÈneral description of theli purp¢se, seivlces, 5UPPOrt and èciivitle3 . An ouillne of thè ¢ommvnliies they5UPPOrt A deKr1ptlon ol the organisatlOll'5 prSm4ry 5eivlce users and Whe￿ theyare located In the UX by nation or region An oullSne of the or8èni58llon's experIen￿ gf d15burslng yants for indivlduals • A dexilptlon olseNice use15' SUPPOrtIourn￿$ wlth the oiganlS*lon 4 An oulllne of ihe or8an15atlon's Inteinal nd external referral processes An Indlcatlon ol the average t1me the oiganlsatlon works wlth Its service useis 6£ Really straightforward proce551 99 An outllne of the training and 5VPPOrt provlded bythe oiganlsation to Sis staff and volunteers . An emplanolion of how the organ5satlon revlews and evaluates St5 service dellvery and ltstollow-up acllons A de5crlptlon of howthe organlsatlon addre55e5 safeguardirtg and data protectlon 155ue5, serlous 5n<Sdent5 1, 66 It was really efreshing to have the opportunity to tall< ' through the scheme and as1< quesLion5. Everyone Is so friendly and approachable and it made applying a pleasure. ASSESSMENT We recefved 365 appllcadons from fronlllne ¢rgan15atlons wlshlng to becorne Flexlble Fioniiine Fund 6rant dÉllveIy partners. Uslngstandardised scorlngcrlterSa. appllcatlons were assè55ed and the scores moderared to ensure conslstency and tg mltigate any covert bia5. Gla55pooI slaff then conducted due dlllgence checl(s, revlewing published ¢Jata frorn regulatQTy bodles ind appllcant¥ website& 99 UGIASSPOQLClklRIIYTAUST AWIIUALREPORT ANOACCOtsNTS

SELECTION To honour oul founder's Intention 10 fund a wide range of commvnllles both geogiaphically and across dSffeient grant recSplent groups. Glas5pooI s¢aff drew up an applicant organI5ation shortlist, whlch Sncluded a diverse cohoit of servlce user cornmun1tles and organ15atlon5 frorn all fourcountrie5 91 the UK. Staff then held virtual meellnE5 wlth 5hort115ted orgènlsadons to gither addltionat Inforrnallon and clarlfythelr understandingof the submltted Inloimation. The shortlistwas then refined, and the trustee-dlieciois made their final selection at the board meeilng in December 2023. 66 We really appreciate the step-by-step guidance and relative simplic7ty of the documentation. 99 INDUCTION At the start of the year, we held two Introductory InduchoD weblnars for our newly selected frontllne grant dellvery partners. These weblnar5 Outllned the key feature5 Qf the programme and enabLeO all paFtner orgèn15atTons and Gla55poolto meet forthe first tlme. After the weblnar5. 12 oiganlsatlon5 volunteeied to form a monilorlng worklng group wlih Glasspool, to finalise the fvnd's monltorlng content and procedures. The In5Ight5 galned from the weblnar5 and the worklng group were incolporèted Into comprehenslve piogramme guldance thatwa5155ued to partner oiganlsations. In consullation wlth the partner% Gia55poolwlll revlew and update the guldance annually. e also held a supplementary weblnarto Introdu partner5 to variou5 svppllers of goods and servSce5 who can be use¢J to fulfil grant ￿queSts. 66 The information provided was really useful an'd we are r. meeting supplTer5 directly a5 a rosuIt.99 IGihSSPO

OUR FLEXIBLE FRONTLINE FUND GRANT DELIVERY PARTNERS 2024125 Cgj commodatlon ConceiTr East Mldland5 Imorth Northantsl ArgylL Lomnd and the Isles EnergyA8ency (ALlener￿1, 5cotiand Ayr Houslng Ald Centre SCIO. 5corlèn Beam Up Ltcl. UK Wlde Biomley Mencap, London18iomleyl Cèmden Care15. Lon¢Jon Icamdenl Cau5ewayChadtable 5ervlte5, Nerth West ILlverpooL Manchester. Sunderiand èn(J Sheffieldl Cent￿63, North West England Cltlzens Advlce Ctntral Oor5e¢ south Wesi En8land Ioorse¢ Doichestei, Gllllngham. 5herborne and Weymouth Et Portiandl Cltlzens AdYlcÈ HartlepooL North East England IHartlepoo( Darllngton, Red<ar and CLevelènd] Cltlzens Advlce In North & West l(enl Sovih Easi England INorth fr West l(entl Cltizen5Advlce Walthèm Forest London twaliham Forestl Cran$tou￿ South and West Mldiand5 IBlmilngham, Englandl Ftyther Hud50n'5 5ocletyTIA Fèther Hudson'5 care.west Mldland5 Iwest Mldlands. Staffordshlre, Worcestei & Oxfordl Flrst Hov51ngAld er Support 5ervlces. Northern Ireland l(Iran support Serylces, Londtrnlwaltham Forestl Nepacs. North East England NIACRO, Noithem Ireland Noah's Ark Centie, YortI5hire and the rfumber North Nottingharnshiie Clt12ens Advitr. East Mldlands INorth Nottinghamshlrel One Parent Famllie5 Scotland, scotland Ongo Communltle5 Ltd, Yorkshlre and the Humber Ormision Famille& East of England Poslilve East, London River5ideAdvice Ltd, Wales Soltt)g& Wesimldlands Sotsce Women'sAld, Lon&Jn Stsylng Pu[ Yorkshlre and the Ilumber 18radfordl Telford Crls15 SupporL We5tMidlands ITelfordl The First Step, North West England IKnowsleyl The Nelson Trust, South West England The Welcome Centre, York$hSre and the Humber IHudde15fieldl Togetherlor MentslWellbeln& East ol England Torus Foundatlon, North Wesr England Trelya, 5Duth We5¢ England tTreneere, Peniance and West Cornwèlll Trldent Reach The People Charity, West Mldlands Frlends Famllle5 and Travellers, England Gateway M40, Nuilh Wes¢ England GISDA Wales HEET, London Iwaltham ForesL Rèdbrldge and Enfieldl Helen Sambef Foundation, London Hlblscus Inlllatlves. England Hlllslde Clubhouse, London Humanlflnd Charhy, North East Englano Humbertare Ltd. Vork5hlre and ihe Humber Ip5wlch and 01srrlct CltlzensAdvlce Bureav, East of England TurnlngTSdes Homelessnes5. Sourh East England IWe5t SusseMI Voices in Emlle, South East England IBrSghion and Su55exl Younc Rootl London Gla55PDDI-funded grants liorn Ih¢5e pailner5 re e)IclusSvEly reseived foi Ihelr servke User5. Theycan only provlde Erant suppoii for Indlvlduals ¥vho meet iheii ellglblllty crSterla Gfidif Ihe oig3n15alion has thecapaclty to take on new seivice users. RL£LA55POOLCWTYTPVSI AMNVALREP¢JVANV￿(OJKTs

REGIONAL DISTRIBUTION OF GRANT DELIVERY PARTNERS UI< WIDE £25,000 I ORGANISATION SCOTLAND £120,000 3 ORGANISATIONS INQRTHERTrI'IRElIAND North East £150,000 2 ORGANISATIONS 3 orgonlsations Noilh West £212,000 5 organisalions Yorkshireand the Humber £220,000 5 organi5atlons East Nldlonds 80,000 2 or9anisatlons East pf England £120,000 West Midland5 £210,000 3 ¢rgonisatlons London 5 organi5ètions £410,000 South West £110,000 3 organisatlons 11 organlsations ENGLAND South East £150,000 £7,0,000 3 organisations ?. ORGANISATIONS IIGIA55POOLC￿ffVT￿9r IMiiuoiftEpoRfANOA(COUNTS

OUR GOVERNANCE CHARITY GOVERNANCE CODE The Irusiee-direciois use the Governènce Code for larger charitie5 to inforrn our pollcy and practlce. PRINCIPLE I ORGANISATIONAL PURPOSE our membership In a CARE defined benefit schemè. We have iisk mitigations In place to minimise and manage ihe5e rlsks. Our organlsailonal purpo5e15 lo provlde grants, goods, services or facilllies for people'who dre In need hdrdshlp ordistre55, slck, convale5cen( dlsobleé orlnfiFm' Every five ye3rs we conducta Comprehensive review ol our strategy, whlch takes nto èccounteconom1c, social aftd environmental condltions and the centrlbutlon we can make to achleve our puip05e. PRINCIPLE 5 BOARD EFFECTIVENESS Trustee.dlfftctors are appDlnted lor five years wSth the expectation that they WILI servè a mèxSmum of 15 years. Wè undertalKe comprehen51ve skil15 and diverslly audlt5 thèt help frarnÈ our succession plannlng. All trustee-directors receive a comprehen51ve Inductlon tts Gla55pooI and 5ubsequeni Dngolng developmeDtthrDugh external 5emlnar5 and tralnlng coutsès. PRINCIPLE 2 LEADERSHIP Glasspool ChailtyTru5t15 managed by a corpora trustee R L GlasspoolTrustee Llmlted company reg. 11147581.The corporate trustee conslsts of e1ght Indlvidu& tru5tee.directors. The lull boaid and Trt5 finance. grants and human resour£e5 sub.commlttee5 meet fourtlmes a year. Betwèen these meeting5, trustee-d1￿(Eor5 ènd staff meet and revlew spec1fictoplcs to inform board det1slon.rnakln& The CEO Is the only mefflber of Icey management personneL PRINCIPLE 6 EQUALITY, DIVERSITY AND INCLUSION We are commlttpdto embraclngequallty. dlverslty and incluslon IEDII. Prlor to recrultlng tfUStee- dliectors we conducl skllts and diveislty audlts thèt are part cf our 5uccesslon piannlng, EDI con5iderètlons are integral to the recru1tment tsl our grantdellvery partners. PRINCIPLE 3 INTEGRITY PRINCIPLE 7 OPENNESS AND ACCOUNTABILITY We conducied a comprehen55veand Iran5parent recruStmentprDce55 forour newgrants programme, the Flexlble FrontLlr Fund. We share ow knowled8e thiough wr webslte, theAssocSatlon of Charltèble Organisatlons and the Granr Makers'Alllance. Transparency Is Cenirèlto our CO￿ values. We malntaln a ieg151ei of Interests foi Iru5tee-élre(t(Ys and senior staff. Key Gla55pooI publi<ations a uploaded to webslte. PRINCIPLE 4 DECISION-MAIIING, R151( AND CONTROL PUBLIC BENEFIT We malntsln a robust and dynamlc appioach ¢0 rlsk managemeni, whlch strengthens our Internal control. In 2023124. we InS1ièted a 5trateglc rlsk management revlew, wlth finding5 ro be lfflplemented In 2024125. Our Iiey ris115 Include 1055 Qf staff and penslon Ilabllltles, è5stscla¢ed wlth The trusiee-dlrectors have comOled wlth Ihefjr duty to have due regard to the Charlty Commisslon's publlc benefttguldan￿', pubtlc benefit¥equlfementlP81L runnlng a chartty IPB21 and reporlinglP83k RLGLISSPON<YAUTY7AVS1 V&IREPORTINDAC(OUNIS

OUR FINANCIAL REVIEW In 1948, Mr Gia$5pooI leftthe charity agenerous endowment of resldentlal propertle5 and other Investments thai were latervalued at aiouno £139,000. Throu8h prudent Investment by successive trustees the total value of these funds ha5 Increased above infiètlon and at 31 March 2024 Ihe total value of Glasspool's funds were E&l.7m. Overthe past yeor, ourlnve5tments ha¥e generated è total return of 7.4%. INVESTMENT STRATEGY. OBJECTIVES AND TARGET We have a comprehen51ve Snvestment policythatsets outcle4rgblecllve5 and the pararneteis of howwe manège the endowment and our short and long-term reserve& We have Set the following broad principle% To dellver the best overall finènclal return￿thIn a 115k plofile that 15 comrnensurate w51h a permanent endowment and our financldl oblectlves.Weèlm tty. Dellver an overall rotal retuin ol"RPI + 4%" after the c05t of Investment overthe long teim Generate a level of Inci)me olii least PEr annum from our investments • MaTntain the reèlvalue of the endowmént 11.e. agalnst Infil￿onI • Malntaln a well-dlver5ified, multl-asset portlollo Conslder and monlior our Investments In¥￿ ol our charStable purpose Gla5spooI benefitted from an increase in our Invesrment Income of Dver 6B% frorn É2,161.617120221231 to E2.508.611120231241 desplte 5eelng a decrease In Income from Trusts Foundètlons to E150.Q)O. Our permanent endowment remalns the most imporiant source f Income for the Trust representlnE93% gf the lotal Inwme of £2,478,796. INVESTMENT PERFORMANCE Table l.. Total fund value lassets11995 to 2024 lyeafs enthng 31 Marchl 50 45 25 20 15 io Doa 000 J W RLGLASSPQOL(HdRfry7llU5r AIIMVAiRIPOftT AM0AcCO￿￿15

Table 2., Total grants 1995 to 2024 (year5 ending 31 March) 22fK) 2JOO 19 18c•J 1700 1600 1500 1400 JJ Izoo iioo 700 600 500 40D 30D 100 ts o o Q P Q O Q O o oooo 7 &1 ￿ O w PJ I REVIEW AND INVESTMENT OUTLOOII 2023124 was a good year fpr investws as pes51mistlc expectallons were 5urpa55ed and financlal markets prlced-ln not only an end te Interest rale Increases, but progresslve re(Jvciion In rate5 over ihe next fewyears. U5 equltles were a clear bright 5POt as the world's largest economy iecofdeo surprlsln8lygood Browlh and iargÈ cap tech stotks benefitted flom the Browlng Interest Sn Al. Whlle UK equltles underperformed. they outpeilormed the prevlous year, and thp rotatlon PTovldes 8ood example of the benefits of holding diversified pgilfgli¢. Infrastiuctvre nd property continued to be a drag on perlormènce 35 these a55et5 remaln ovt of lavoui. However, they remaln on slgnlficani dlsco¢JntS to Ihelr nel asset value and the yields remaln weW above cash or bonds, enabtlng us to be patlentwhlle wè wait for attltude5 to shSft. It Is over two years slnce the Federal Reserve (Fed) d Ban1( of England IBOEI embarlitd thelr aggressive tiBhtelllng pollcles and econornles have fared fèr bettèr than was Inltlally feared. The US was the world's fa51e5t-giow1ng advanced economy In 2023, dellverlng 2.5% GDP giowtll Whlle the Ul( slld 5nto o shallow technical recession In the second hall ol Last year. the economy managed to eke Qui 0.1% GDP growth for 2023, The Eurozone slmilarly struggled to grow, re8Isterlng 0.5% 2023 GDP Erowth, but gfven the bleali projections due to 5haiply highe¥ Interest ratos and the focl economles are not 51gnlficantiy conrractln& thls Wè5 vlewed as a posltlve deveiopfflenL Even though Inftation levels are movln8 closer to central ban1( iaigets 01296, there are a number ol reasons to suggest that inftatlon In th? future wSiL be more volat11e and harder to contain RLGL455POOLcwthnYTAUSI ANNVALRIPORT ANOKUPJMT5

t very low levels. The near zero Interest rale n￿ronMent that prevailed from the Global nanclal Crlsls IGFCI staltlng In 2008 to the onset of Covld In 202012115 unllkely to be repeated ever the nexr five tc 10 year5. Flrsr, the 8eopolitical londscape has changed In the iasr few years. Low infiation over the last 40 years has largely been the result of globallsatlon, wlth Chlna In pardcular becoming the'factory of the world." Many companles felocated productlon there, and In other emerglng economle5 In an eff(prtto ieduce cost5. However, Covld lockdewns and Ru551a'5 Invaslon of Ukralne reveoled the fiaBility of supply chaln5 and rlsk5 01 beroThinB too dependent on one reglon ro supply product5. 'NearshoFlng' and"frlend5horlng- have enteied the corporate lexlcon as supply 5ecuilty t3ke5 precedence over cost. The posslblllty of other mllitary Interventlons over the next few years should not be d15rn1￿ed as seen In roncein5 over the confllct In th? Middle East. Second, ¢llrnJte change Is Impacting on grlculturèl productlon, whether It be through Increased Incldence of lamlne or flood. Thls h05 the potent1al to Inuea5e food costs, or at least malle prtces fluctuate more than In the past. Thlrd. the iransltlon towards o net zero effi￿rOnment adds 5hort-term co515 uniii ienewables ourputand pFlce5 fall below prevalllng energy prlce5. If inflatlon Is more volatile as a ie5uIt of these factor5, the likelihood Is th3t Inrerest rotes on average wlll be hlgher moving lor¥vaid than in the last decade. The iran51t5on Irprn zero to current Inteie5t rates has been 8 palnful one, part5cularly in 2022, but forward.lookTrng morliet eMpe£tatlon 55 th?t they wlll setrle between 3.Oq6 and 3.596 sn the Ul<. Th15 Is not nece55arlly a baLI environment for Snvestors. Modeiale Infiatlon vAth rnoderaie Interest rètes Is the hlsiorlcal norm and ha5 not damaged longer terrn Investment Fetvm5. In thls envlronmenL Ihe return profile acr055 asser cla5se5 wlll be les5 skewEO tewèrd5 equitles, wlth bonds and even cash dellverln8 a posltlve retufn. Addldonally, neor zero bond ylelds have resulted sn poor Capltèl allocatlon for many buslne55es and therefore In a hlgher c05t of c3pltal envlronment. A correction In interest lates Should Improve Investmeni dls¢lpllne as should the qualltyof buslness InvestrnÉnts. Thls wlll also Improve returns on cèpltaL In shori a new erb of moderate Inflatlon and posltlve yleld5 should allow m05t asset classes to Oellver positive ielvins over the years to come. ASSET CLA￿Es To ensure 1151115 managed approprlately wlthin the portfollo and is commensurate wSth belng a perrnanentiy endowed grant-maklng charlly, we hold a wlsje range of è55et% These are manè8ed by 17 Inve5trnent managws wllh dlversSficètlon acros5 a range of cla55es. 1.5Q/p £629,356 Cash 17,2 /0 £7,203,350 UK Equltle5 TOTAL ASSETS 10,596,984 £41,868,723 £6,687,568 Global Equlrie5 7,813,283 Properly £8,938,182 Prlvaie Equlde5 RLwSsp￿(￿AirirftvsI *WIUALREPQRT AMDAC<QiWTS

FINANCIAL PERFORMANCE The end-year position wa5 a surplus of Incorne over eJwendl¢ure or É32,412. Undei the requ1￿ments ol SORP reguiarlons all Incom? received Must be recognised In the full year It was recelve¢J. Drapers, funding of £25.000 re£ei¥ed 2022123 was disbursed 2025124 ano a further Drapets, grant of £25,000 was recelved 2023124 for dlsbursement 2024125. A Mercer5' grant Df £40.000 was recefved éuring 2023124 for dlsbur5ement during 2024125. Table 3: Performance 5urnmary ave¥aged over rolling three.year period; target in brackets .OBJECTIVE OUTcofrfE RESULT Increo5e grant spendlng by more than increase in RPI 5.7%18.99SI Increase total fund value by more than the Increase In RA .1.8%18.9%1 Generate a nettatal Income return of at least 4% Generate a total return above the increase In RPI * 4% 3%112.9+61 Keep granl-mal(Sng costs below 2Q% ol net total incorne 13%1<20%1 Spend èr least 100% of net Income on grants 95.9%1100861 RESPONSIBLE INVESTMENT impact. A5 an org?ni5atlon, we believe In actlve 2ngègement rather than dive5trnent and seek lo be part ol the movement towards posltlve change. In Ilne wlth our Yalve5, the IrustefrOirect*X3 Pey close ètientlon to our responslbilitle5 a5 Investors. We do not have any speclfic exclu5ionèiy polScy based upon ethlcal conslderatlons but do consider envlionmental, soclèl and 8overnance IESGI155ue5 when maklng Investment dec5sions. We requlre our fund and iompany managers te rake ESG Issues Into con51deration In the5r declslon.maklng procèsse5, and io ￿pOrt cn thelr engagement ￿th bu51ne55es they Invest in. All our managers musi adhere to the principles set out In the Iunlted Natlons) Prlnclples for Responsible Investfflent. RESERVES Our strategy15 to keep the"desl6nated reserve5. bove the costs olthe CARE defined benefit penslon scheme Debt on Wlthdrawal IDOWI Ilabilily and general reserves at 51x monihs opeiatlng costs. We declde¢J to reduce the latier from one year's operarlng costs to months to reflect tru5tee-directOls' Intention to spend down the eMces5 reserves over the next five-tO-5even- yeai perlod, $0 th?1 we can Increase our grants spend for people most In need. We wlll be pragmatic in Implementing thls change of pollcy tts ensure we rnaxlmSse the amount we can d15tribute to our beneficlarle5 today and In the future. Glven the Dow estimate130 Septery)ber 20221 is E157.991. trustee-dlrect015 wlll revlew Ihe level of'designated reserves" held, reducing the provislon to £200k. Plus 51x month operatSng C0S151£150kl In general ieserves. We appieclale our managers parisclpatlng In whèt we see as Importani Inltlaiives. such a5 the 30% Club, which focu5es on the comp05i¢ion ol Vl(- Ilsted cornpany boards. the IIGCC (the Insliiuiional Investors Group en Cllmatt Changel and UIISIP (UK Sustainable Investment and Fln3ncÈ Assoclatlonl. We meet with our Investfflent managers perlodlcally and, as part of ihe ongoing monltoring process, we examine the inve51meni managers. approach to enyg¢ment aDd f¢LGLASSPQOLCIL4Tr1TYTRUST AWtIUA(WORIPII)AC(OVMIS

TRUSTEE-DIRECTORS. REMARIIS ON THE ANNUAL FINANCIAL STATEMENTS There wa5 a 5rnall increase of 1.6% in the total value of funds from 2022123. Gtasspool is a long-term investor. absoibing market volatility and still generating year-on-year investrnent income growth. Investment income rose 6.8% (from £2.161,617 to £2.308.6111 and total income linvestment5, Trust Et Foundations and donations) decreased marginally by 0.4% from £2,489,726120221231 to £2,478,796. Grants expenditure was E2.146.931 but grant approva15 during the year were just over £2.2m. The variance was a deduction from 2022123 grant liabilities with some grants that were offered during 2022123 ultimately not being required and which were therefore cancelled during 2023124. Trustees ale required to.. Select suitable accounting policies and then apply them conslstently. Mal(e judgements and estimates that ère reasonable and prudent State whether the policies adopted are in accordance with the Charities Staternent of Recommended Practice ISORPI, the Regulation5 made under section 44 of the Charities Act and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements. Prepare the financial staterllents on a going- concern basis unless it is inappropriate to assume that the Charity will continue to operate. A comprehensive assessment of Glasspool's current and future financial situation did not Identify any financial is5ue5 that could prevent Glasspool continuing as a going concern for at least 12 months. The trustee-diiectors have reached this opinion on the following basis". The trustee-directors ère responsible for l(eeping proper accounting records that disclose with reasonable accuracy at any time the financial posltion of the Charity and which enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities. Around 93% of Glasspool's income is secured through its investments. We have no material long-terrn (before April 20241 liabilities with our suppliers and grant liabilitie5 older than three months are cancelled. We have sufficient reserves to cover commitments made during 2024125. So far as the trustee-directors are aware. there is no relevant audit information of which the Charity's auditors are unaware, and each tru5tee-director has talien all the 5tep5 that he or she ought to have taken as a trustee in order to mal<e himself 01 herself aware of any relevant audit information and to establish that the Charity s auditors are aware of that information. Glasspool's main liability. a Debt on Withdrawal charge of £157,99112022 valuation) is in respect of a CARE defined benefit scheme. Thi5 would only be enècted should the Trust wish to withdraw frorn the scheme. At present the trustee-director5 do not intend to do so. Should their position change. funds to cover the fee could be met from the'designated reserves" which were reduced to £200.000 during 2023124, with these being retained for this purpose and reviewed annually. AC Mole have agreed to continue to audit R L Glasspool Charity Trust's accounts for 2024125.This report Was approved by the trustee-directors on 6 December 2024. R LGL4SSPOOLCNARITYTRusr APINUAL REPOftT ANOACCOUNt5

DETAILS OF THE TRUST. ITS TRUSTEE- DIRECTORS. STAFF AND ADVISERS R L Glasspool Charity Trust Moinyard Studi05. 80 Rucl(holt Road. London EIO 5FA Charity Reg. No. 214648 TRUSTEE-DIRECTORS C Bueno De Mesquits (Deputy Chairl A Allocco J Belai R Birmingharn Iresigned 2 October 20231 Y Ibrahim (appointed 2 October 20231 D Lenton L Mccarthy S Outhwaite M Francoise Itru5tee-director in-waitingl STAFF J Green. Chief Executive Officer E Crawford. Head of Innovation & Impact N Woodward. Grants Officer I Simpson, Assistant Grants Officer SPECIAL ADVISER K Nunn linvestmentsl INDEPENDENT AUDITOR5 Acmole Stafford House Blackbrook Park Avenue Taunton Somerset TAI 2PX SOLICITORS Shakespeare Martineau 60 Gracechurch Street London EC3V OHR BANI(ER CAF BANI( Limited 25 l<inES Hill Avenue West Malling Kent ME19 41Q RLGLA5SPOOLCHARIIYTRusr ANNUAL REPORT ANDACCOUNTS

' ACCOUNTS

INDEPENDENT AUDITORS, REPORT TO THE TRU R L GLASSPOOL CHARITYTRUST Optnlon We havo authled th? finan¢Tal $talEmenls of R L G12sspooI Chailty Tw$1 Ilhe 'chailty'l lor the year ended 31 March 2024 whl¢h C4)mpr(s8 th8 Statement ol financial aclivlUe5, Ih? balance sh8el an statement of ¢ash flows and notes lo the finanda slatemenls, indudln9 a $umm8ry of 81gDSfKant acuunllng Pol￿?8. The fingnd81 répothg framewNk thai has been applkd In Ihelr preparallon 1$ appllcable law and Unltsd Klngdom A¢counNng S18ndards, includlnq Flnanclal R8POrtlng Slandard 102 'Thè Flnandal R8pothng Standard appIl￿trI¢ UK aNJ Repu￿￿ of Irgland, IUnlt8d Kj'ngdom Generally Ac¢opl8d Aceounling Pracllcal. In ouroplnlon, the finanelal stslemenl$'. g￿fj a true an(F falr ￿eW of thè state of Ihe charws altsirn as al 31 March 2024 and ¢f 11$ Inwmlng ro$ources and appllcaiion gf resources, lortha yoarthèn ended., hay? been properly prepared In &cordanc8 wllh Unltod Kingdom G•neralty ￿cepted A￿untIng Praclth., and hav•￿8￿ prepar¢d In accordane wlhlhe r8quk8ments oflh8 Chorflle$Aci 2011. 84615 loroplnlon Wo Gonduct￿l our 8udll In ac¢ordaw with Inlern8llonal Sland¥d$ on AUdI￿n0 IUIQ IISAS (UK)) and appllcable I￿. OUr￿spOnsIbl111eY under Ihose slandard5 are lurfher deKrib8d In the Audkorfs r68pon8lbllili8s for lh8 audit olthe flnantskl slalemenls setbon ol our report. We are Ind?pendenl ol Iho chartty In accordancè wllh thè 8th1￿1 requlremenls Ihat are r&f8vanlto oyr audll ol the fln8nclal $lalgmonl$ In the UK, InCI￿J1Dg lh8 FRC'6 ElhScal standard, and wo havo fulflljed our other ￿￿1￿1 r8sponslblllllg8 In ac¢Ndonce wllh thè58 r8qufvm?nls. We bell8ve thallhè audll 8vld8nce we have obtalnod 1$ 8uffldenl 8r>J approprlate to pro￿d0 a ba&ls forour oplnlon. ConGlusl¢n6 ielallng to iolng concern In audmffj thè finandal sl818ments, we hav8 concludgd that tha dlreclors, use ol thè g￿fig con¢orn ba81$ Qlac￿un1lng In the proparaiion ollhe financ5al slalemèn16 Is 8ppsoprtste. B888d on tho wothwe av8 p8rf¢xfn8d, we have not Idontsried any maleri?I vncertalnlles r•lallng I ¢vonls or condI￿On6 that. Indlvldually or Colle¢1￿01Y￿ may casl 8ignificanl on the companV$ S￿l￿Y loeonllnu8 os a golng eoncem lor a p8rlod ofol least￿￿• monlhi from when thefknan¢lAI $ialernenl$ are aulhoilsed for155Ua. Ouf respons1￿1114e$ and the Te¥ponsI￿r￿lI0s of Iho dknewrs￿lh rèspect10 9Jlng concern èro doscrib8d In Ihe rel8vanl 5g¢tlons olthl$ report. othorlnfomiallon Theolher Inloimollon compiisès lh6 informatlon Included In Ihe annual report olher than Ihe financAal statsmnlB and our audlloR8 roport Ihereon. The Iru¥l¢e$ are respon$lble for lh8 other Inlormallon ¢onlained wilhln lh& 8nnu?I report. Our opLnlon on thè financlal 8181omen18 does not Coverth? olher Informalknn and, 9x￿p1 to the extent 01h•￿1￿8 ?xpllcllly 8taled kn our report, wè do not exprn88 any form of assuronco concluslon theroon. RLOiASSPQOLCHARrfYTAU57 IIUAIftEP¢IT ANOACCOLWTS

INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF R L GLASSPOOL CHARITY TRUST CONTINUED Our reS￿nsIbIlIty l? lo read Ihe olh8r 5nlorfflallon and, In dolng so. con61derwhethw Ihp olher Inl¢rm8llon 1$ mal•rlally In¢onsl$lenl with Ih? financial $lalemenls orow knowlgdg¢ obtalned In tho cfjur90 Ollhe audil or OtheTh￿Se appears lo be maleilally mlyslaled. Ifwe Id8nllfy such rnaterlal Incon815tsndes LY apparent matarlal mlsslalemenls. we are requlw lo delerrnlne whglher Ihla gl¥06 rf$e io a maleilal mls51algmenl In Ihe financS81 st8lemenl8 Ihem$elve¥. Ir. based on the workwe have P8rforrn8d, w? conclude that Ih•r¢ 1$ ? malerfal ml$st8lèmènl of Ihl$ olherlnformalkin. we 3r9 r¢qthred to report that lact. We have nothkng lo r8POrtln Ihl$ r4gard. Matt•r8 on whlch wg aro r•iulrod to report by ¢xc•ptk+n We nav8 nothlng toreport In rèipecl ol the followlng rn8lt8rs in Felalion lo ¥th￿h Iho Chari1￿8 (A¢￿V￿lS and Reports) Regulalbn$ 2008 requlr8 us lo report to you if, in our oplnlon.. tho Informalon glven In the InandaJ$tslernent81s knconslstenl In anymaleilal r•$pactwllh tho tru$ts86' report., L¥ Ih8chartly h83 not kepladaqualg accounlhig iecords; or th9 finan¢lal stalemenls ar8 not In agreem8nl wllh tha accounllng rocwiJ$ and rplurn¥'. or we have not roealved all Informallon and expknallon6 w8 requlre ferour8ud R95pon¥lblllUg8 of Irugte09 A8 expklnod moffe fully In the fwsl888' ￿spOnSIbilI￿o$ 8tatement6etout on p8g8 19. thetiu&tees are Bpon$lblo for the preparallon of the ffnanclal slalem8nts and for ￿ing Sallsfied that they glve a Iwe and lalrvlgw. and lor $uGh lTrlernal control as the tru8106s d818rmlng16 n￿e¥Sary to enablo thè preparallon ol financlal slalemenls Ihal 019 fro0 fmm matérlal mls$lalemenl, whelhor du• lo fraud or •rrnr. In pr¥8rlng Ihe flnanckl slalomènlg, tho Iru8lee$ 018 rosponsibje for 888g$$lnq Ihe tharity's ab51ily lo conllnu• 88 a gc4ng con¢grn, dl$¢b$lNJ, a$ ApplltAble, matter$ ielal6d Io oolng and ￿￿n9 the golng con￿rn ba81$ ol a￿OUn1￿9 unleBS the Iru81e•$ elth8r Inlond 10 liquidat¢ Ihe charlty or to Ceo10 operalkn$, or hÈv8 no r8alS$ll¢ atternallve bul lo do W. Audlto¢• ro8ponolbllltlè$ fortheaudlt of the nnon¢lal 8tatsm•nt8 We havo bean 8ppoinl8d as gudltor under 6e¢llon 144 oflha Charilios 2011 and r•portln accordance whh regulalknn8 made under 8ection 154 91 thalAcl. Our oblgcllvoj ale lo oblath r•asonobl¢ 3$¥ur#n￿ abovlwhelherthe fhanda 81atoments as awhdè aro tree from matarlaF mI551*8rnenl. wholh8r due to fraud or error, and lo188ue an audllof8 reportlhal kncludes our oplnlon. Rea$onablg a$suMnce Is a hlgh lev81 of 8$8uronce. bul 1$ nol a gu8rgnl8¢ Ihat an audll eonduclèd In 8ecordanc8 wilh ISA8 IUK) wlll a￿ayS ddocl a maleilal rn1861alemenlwhon11 exlsls. Mlsstalemgnl8 can arl8e from fraud or eFrar and ale eon$lderod rnalefflal If, Indlvldu8lly orln Ihe aggreuale, they C￿1￿ reasonably be 8xpected to Infiuence tha eeonoml¢ declBlons of users tak￿ on the basls ofthese fknand￿ 81giements. RLG1455P¢Ci¢Ii•JUTYTRU57 ANNUALREPQRFl￿P£(ouxTS

INDEPENDENT AUDITORS, REPORT TO T E TRUSTEES OF R L GLASSPOOL CHARITY TRUST CONTINUED Id¢ntlfylng and a¥88sglng potentlal rl8k8 olmaterlal m158talementdue to Irr•oularftl88 W8 ¢on8klÉred Ihe followlng when idenlifylng and a$sessiftg rl¥k5 of matertsl ml$$lal•mont due to egularilie5, includlng fraud and non-compllancowlttj laws and reg4Jlab'ons: the legal and ieguLqlorylram¢wort In whkh Ihg oharilyoperate8 tho s•¢lor Inwhlch lh8 charlly operate6 the control envlronm•ni and conliol$ e$tsbll$hed lo mlligala such Asks th? rosulis olour e￿VIrI•S of managem8nl about Ihelr Idenufi¢dlion and 8sEèssm¢n¢gf rbk$ of Irregularille5 di$w$$lon$wllh tho audll enga9¢menl loam about wherè Iraud mlght occur Ihe Inconlive$ lor fraud. Law$ Ond fegulallon$ whfch aro Lrnsldered to ￿ $lgnlfi¢anl to Iho tharfly knclude those ro1otln9 10 th9 requ*èmènls of financlal reporthng ffam6work FRS102. the Charities Acl 2011, UK lax leg151alion, employmenl law and heallh and iafèiy. In ad(I'llon, we ¢on$lder elher18W5 and r8gulaUonwhlch may nol dirotiiy trnpacl Ih? finan¢lal slatsments bul may Impo￿ on the operallon of Ihe charfty. As 0 re6uII olthesè pm¢edurè$ we cmcluded. In accordan¢8 with Inltmollonal Audlllng Stsndord8, Ihai a risk in rejallon lo potenlS01 lor managèment ov?rrld8 of controls Bxl$led. Audltwpon•a$ to Identlllod We ￿￿ertoo￿ 0udS1 procèdura$ lo respond lo the rl$ks Id8nlifiod, ènd dejlgned Qui audllt•sllTra lo rg$pond lothese Ilsk6. The 0ddlUonal protAdurè$ we undertook Included the followh galnlng an understanding oflhè char5ty'8 pl￿￿ureS for ￿lUr￿n9 compllanc8 wSlh law8 and r89u1allc￿s le$llng th? opproprfalenos8 ollournal èntrie¥ and olheradlustments nstderlng wholher acceunllng •slim8ts$ were Indlcalfve of potenllal blas on$lderlng whether any Iran$acllons aros8 QUI￿d9 the normal coul$8 ol bu8lnw8 maklng enqylrlg5 olmansgemgnl coiroborallng our &nqulilè$ through rovbw ol Board IAlnule$ and terro￿OndenCe. We also communlGaled relevanl laws ?nd Tegulallon$ and POleni&l fraud r18k8 to all enoa9omgnl tgam m¢rnber$ and r8malned Blertto any Indl¢ators offraud or noTrGompllarKe wlth laws and r8gulalion$ throwhoul Ihè audit. A Iurtherde$ciSp￿Qn of our rèyponJlbllllle$ k8 avallaN8 on the FlnatKlal Reporflng Councll's webslle al.. or IAU Ilor8.r88 Thb do$crlpllon lormB part olour audltov's r¢port. udi IL<LA55POOLCKIINYIRU5T AnwAtfiEPOAT AHOICCOVNTS

INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF R L GLASSPOOL CHARITYTRUST CONTINUED Usg of ourreport Th18 report 1$ made $o1oly lo Ihe charity'$ tru$tee$, a$ a bodyi In accordanc8 with Part4 ollhg Charitle$ (Accounts and Reports) Regulallons 2006. Our audll work has been undertaken so that might slat8 to Ihe charily8 Iru81ees Ihtrse matterswe ar8 reqUI￿d to stale lo Ihem Sn an auditorf$ roport aThJ for no olher purp058. Yo the fiJlle$t Oxlent pgrmitted by law, wg dg not a￿pl￿r asgutne rasponslbllltyto anyone olherthan the eharlly and the th8rlty'$ Ini81ge$ a& a body, for ouravditwork, for Ihls r8POrt, w lor tho oplnknns w8 haveformed. A C Moje LLP Islalulory A￿J1¢Or) Charter8dAccounl8nt5 & Reglslered Audllu8 Stsfford House ackbrook Park Avénuè Tgunlon TA12PX Data A C Mole LLP 1$ eliglble for appoSnlmenla8 audllor by ￿rtu9 oll1$ 01￿[bIlIty for appolnbTrent a¥ aud￿Or of a company under $8cllDn 1212 of the Componles knt2006. RLG￿POQ￿(￿l￿ThYrRySv ANNUALREPOR7ANO￿(0uTr￿S

R L GLASSPOOL CHARITY TRUST STATEMEN OF NCIAL ACTIVITIE YEAR ENDED MARCH 2024 Unr•strf¢ttd R8strlct¢d Endovm¥ont Fund# Funds Fund Total 2024 Total 2023 Incomefmm Dgnadon5 Inv¢stm¢nts Charltsblo tltlvlll Other In￿me 20,185 2,308.611 20.18S 2,308.611 IW,000 28.8LY4 2,181.617 900.0 1.306 16QQO) Total In¢omo 2,328.796 150,000 2,478.796 2,489.728 Chortlable actlvltl¢s Gran18 Costs of￿antmak[t¥a 2.036,931 299,453 11QlJXI 2,146,931 299,453 1,￿4,094 321.e08 Total gxp&ndltur• 2.336.384 110,01)) 2,446.3e4 1275,702 N•t Income boloro 8aln5 8nd1088e$ on Inv8slrnen18 GalnsllLoss9$1 on inve$tfflonl as5els on pon$bn scheme 17,5881 40,000 31412 214,024 189,611 596,552 18,831,031) 16 18.Ce7 18,067 12.540 N•t InGom8110xpondliurel 20Q.090 40,01)0 406,941 647.031 16,604A67 Transf•r8 be￿aOn lund$ Nlt mov¢menl In fund8 200.090 4C6,941 647.D31 16,eo4,40n R•¢onGlllatlon olfund6'. Total funds at 1 Aprll 2023 1,323,123 25,000 39,737.808 41,085,931 47,69CI.398 Total l￿d& 8131 M￿h 2024 12 1,523,213 65,000 40,144,749 41,732,962 41,085.931 Th? nolep Qn page$ 30 t¢ 40 trm PBrt oflhese nn8n&al stgtemonts RLGL45SPOOL¢TrWAT¥Trusr 4INUALREPORT A￿D￿COuNT9

R L GLASSPOOL CHARITY TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 fvIARCH 2024 tatement of Flnanelal aetivi he ear endèd 31 March 202 com arative ur oses- Re$tated UnTè$tricted Funds Restated Restricted Endowment Fund$ Fund Reststed Total 2023 Not¢ Income from: Donations Investments Charitable activities Other income 26,803 2,161,617 200.000 1.306 26,803 2,161,617 300.000 1.306 100,000 Totsl rn¢ome 2,389,726 100.000 2.489,726 Charitable activiti•$ Grants Cost of grant making 1,879.094 321,608 75,000 1,954.094 321,608 Total expondltur• 2.200,702 75,000 2.275.702 Net in¢ome before gains and lo¥ses on investments (Lossesl on investrnent assets Gains on pension schame 189.024 25,000 214,024 (149,754) (6,681.277) 16,831,0311 18 12,540 12,540 Net incomellexp8ndltur•l 51.810 25,000 16.681.277) 16,604,467) Tran$fgr bgtween funds Net movement In fund$ 51.810 25.000 {6,681,2771 16.604,467) R•¢on¢lllatlon of funds: Total funds al 1 April 2022 1,271,313 46,419,085 47,690.398 Total funds at 31 March 2023 12 1,323.123 25.000 39.737,808 41.085,931 The notès on pages 30 to 40 form part ofthese financial stalements. RLGLASSPOOLCHARITYTAUSr ANNUALREPORT ANDACCOUt4T5

R L GLASSPOOL CHARITYTRUST BALANCE SHEET AT31 MARCH 2024 2024 2023 Notes FIXED ASSETS Tangible Investments 41,868,723 40,750,?97 41,868,723 40,750,197 CURRENT ASSETS Debtois Cash al bank and in hand 32,431 43.980 220,250 437,642 76.411 657,892 CREDITORS- Amounts falling due within one year 10 1181,4411 1273,3601 NET CURRENT ASSETS 1105,0301 384.532 Provision for liabilities and d)arges 16 130,731} 148,7981 NET ASS￿$ 41.732.962 41,085,931 CAPITAL FUND Endowrnenls 11 40,144.749 39,737,808 INCOME FUNDS Unrestricted funds.. Designated fund Other chaitsblè funds 13 200,000 1.323,213 500,000 823,123 1,523,213 1,323,123 Restricted funds 14 65,000 25,0 41,732,962 41,085,931 Approved by the Board of Directors ol R L Glasspool Trustee Limited on...6112124.... .and signed on its bÈhaW by.. Tha notès on pag&s 30 to 40form part ol these finanrAal staternents. kfA£ts rAoy' LGiA5sP￿L(HAftrryT￿uST ANNUAL REPQRT ANOAC(OUNTS

R L GLASSPOOL CHARITY TRUST STATEME F CASH FLOWS CH Note¥ 2024 2023 C18h Ifow from oporallng a¢ilvltlos 17 (2,18D,299) (2,077,720) Cash Ilowfrom Inv•s￿ng a¢tlvltl•8 Payrnents to acqulre flxed as$o15nvs$im¢nts Re¢elpls Irotn sales of fixe¢J asset Invesim8nt8 Lyvldends and inleresl receS¥ed 13,606,353) 13,484,546) 3,713,735 1485.085 2,208,611 2,161.817 N¢¢¢a¥h fftow from lrtvesung aotlvldo¥ 2,416,993 2,162,168 Not In¢r•￿e In ¢&ih and c85h equlvalonts Cash and ¢a¢h ¢wlvalènt8 8t l Aprjl 2023 235,694 84,438 437,e42 3632( Caph and •qulvilents at 31 March 2024 673,336 437,142 Cash al bank and In hand 43,980 437,842 Cash hold￿thIn k)vo$lment portfollo 829,358 Cosh and ¢a•h 04ulvalgnt8 At 31 Mar¢h 2024 673.336 437,642 The nole5 on pag¢$ 30 tts40 form part tsftha￿ flnartlal $tal8rnerts. RLGiA55PODLCHinifYTftL15Y AlINUALnEPORT￿D1C(Outlvs

R L GLASS OOL CHARI UST NOTES TO INANCIAL ST TS EAR ENDED {con￿ny¢d) A¢COUMtINQ POUCIES a) B#sls ofproparallon offlnan¢l8lsl8tements R L Gla$8pod CharilyTru811$ a regisleredcharily in the Unlled Kingdom (England &Walesl. The addièss of the reglslered office is gi¥8n In the Charlty informallon on pago 20 of Ihese financlal 51alemenl$. The nature of charlty'$ oporattDll5 and winclpal acuvllles are th rellgf of person$ who are In n68d, hardsNp or dlslreg8,' or slc4r, convalescent, disabled or b) 88s18 ofPr¢par411on The Charity conslllul¢$ a publlc benefit enllty as de￿ned by FRS 1D2. Tho financlal $tai•mènls havg been prepared In 8ecordan¢e wilh A¢￿untIng and R?poMino by Charllle5'. Slatemenl of Re¢ornmended Pracli¢o applicable lo ¢haritle$ preparing Ihelr a¢￿UnIS lft accordance wllh the Financlal Roporting Standard appllcablè In the UK and Republlc ol Iidand IFRS 1021 i$$ued Sn 2019, the CharWe$ Act 2011 and UK Generally Accopled Th8 finAn¢lal slalem8nl$ ore piw•nted In stsdlng {£) whlch Is al￿ thè fUnc1(on￿ currency fof Iha company. c) Gojng Con¢erft The Iru$lees hovo r8vlew8d the TrusY$ ejjrrènt and fulure fin#n¢ial $ilu81ion and no 81gnifi￿nt (knubt8 have been k1enllfied to prevenl the Tr¢J81 ¢onttnulng g¥ a golng concern forthe lor0*#a￿a futur8. Block grant8 wlll b& dlslflbut¢d to Ironllne portn8r orgonlsallons overy quarter for the upcomhg y8ar. Although Ineom• frorn Inveslments and 8xtemal lunders is receiv8d throughout the year, Ihe Trus1è8-Dlreclor8 have sel aside 'deslgnalod funds, lo cover block granls fL¥ ono enlSre qu8ri8r. lo manage Sncome ¢8shffow. d) Income All Incomg Is Ir￿luded In It7è Slatemgnl of FlnanrAal Act￿111￿$ ISOFAI whtn th8 Twsl Is legalty enlilled to the Ineom8 aft8r any performancè Cor￿lI[0D9 hav8 been mèt, Ihe amount an ￿ m886vred rdlabw and11 Is probable Ihal the income wlll bo recelwed. DonaUonB are recognlsèd whèn the Trust boon ol the amovnl8 ond selllemenl dale In wrlllng. 11 there are condNlons 8lts¢hed lo thè donalion and Ihls requir6$ a bvel ol performance bolora onlill¢ment can be oblalnèd Ih•i Income ￿ deferred unlil th058 ndlllon8 ar? lully met or Ihe fuifilmenl oltlKse conthllon5 l¥wlthln Ihe control of Ih?eharily ond11 Is probablo Ihalthoy wlll be fuifiled. InvgBlfflenl Ir￿orne 16 eain¢d Ihrough holdlno 88s91s for knveilmenl pwpos?$ luth a$ share8.11 Includ6s divid8nd3 8nd Interest. ￿ort 11 Is not pradcable to iderbllfy Invo$lmenl m8nagemenl costs Incurred wllhln a $d)omg wli h r888onable accuraty thè Investment InLy)me 1$ reported nel of Ih888 costs. 11 1$ included whon the amovni can b? measured rdlably. Inlor•$l Income15 r8cognl$ed u81n9 tho effecUv8 Int¢re$l method and d1v1d￿d ond r￿TrI Income 18 reco9nls6d a# Ihe ¢haritV8 fi9htlo recelvg payment16 OStabllsh8d. Grants are recognl$ed In full In the year ID whlch they are iee81vabl?. 11 thor0 are eondllSons allached lo the donation and thlB requlres a lavel of performance bofore enlliiemonl can b& oblalned then Income Ss deferred unUI those eondilion$ ore fulty met or Ihe fvlfllmtnl of Ihose ￿n￿lI￿On$ li wilhln th8 control ol th& eharity and il Is proba￿8 that they wlll bo fulfllkd. ILGLA$5POQLCMAPJIYTW5Y IN￿￿AL￿EP0RT1th1Oj￿CO￿IITS

LASSPOOL CHARITY TRUS NOTES TO THE FINANCIAL STATEMENTS IConUnued) ACCOUNTING POLICIES Iconvdl g) £¥p¢n(Iltur• All exp8ndilure Is tccounled for on an ac¢iual$ ba819 and has been c18585fied under headlDgs Ihal a99regale all M$tB rolaled lo the catsgory. E%p8ndllure 1$ recognlsed wherg Ihere is a legal oi conslructlva ebllgallon to mako payments lo Ihlrd portbs. It15 probable that th8 selllgmBnl will be r8quired and iho omounl of Iho obllgallon c8n be measuied rdlably. The expendllure eonsliis of thè followlng ¢alegorle$'. C05t of g¢nerallryJ lunds Includes Inv8slm8nl monagemont fges, when pracllc8bly Idenllfiable, and direct property cosl&. Dir8cI charitabl8 8xpen¢Jlture ojnslsls ord1r8￿ ind Indlrècl oosts 98Boc5Bled w5th the maln a¢lfvlUès of the Tru51. Governan¢e ￿$t3 Indude axternal audh, le9￿ adihce an govemonce matter? and Tru¥1ees'oxpen8￿. Grants aro accounlgd lor In Iho ygAr they are apwov¢d. Sire8pe¢llvg ol Ihe period (x)v￿e￿ by Ihe grant$. Grants whl(l) havo b4en approved bul not pald at Ihe year end ore includad wilhln credllor6. IJ Support¢osts allocallon Support¢osts are thosè that 8$sl$t lh8 work oflhe RL Gla68pooI Chartty Trust birt do nol dlré¢lly repr6$8nl char51abl8 8cllvlll8s and In¢lvde offlce ¢osl$, govornanee costs, accountancy and payroll so￿¢65. They 8re Incurred dlrgclw ln 8UPPOrt of oxpondtturèon the objects of Ihe charlty and are all allocaitd agaln$l thafil8blo adfvllle$. oj OfflGO fumlturo8ndequlpment oirKO fvrnllure and equlpmenl are slat•d8t¢ostorv8luallon b$$ 8cwmuJaled ¢Yepreclo1 and 2ccumvlalad Impalrrn8nl fos$e6. Purchasos of ass818 of ￿lu¢ £1,000 and over are ¢spllallsed. DgprecLgllon Is provlded On all cap1116ed a$$ei$ al rates e511mated lo wiH# off the cost I￿ e¥lm8ied re$ldvalvalue, oleach as881 overl1$ 8xpect¢d useful Ilf¢ a¥lOll￿¥s.. Offic6Jrnllur•and equlpw*nt 3 years str019ht kne h) Inv¢8tmont3$sets Inveslmonts aro rn¢ognl88d Inlllalty at lalr value wh5oh Lg nfmlly the transaellon ￿ce ex¢ludlng Iranso¢llon cos19. Subsequently. Ihoy are measured al lalr valuo lal mid-prfcel wllh changes recognlsed in'nal ualn511105s?$l on Irw8slmenls' In lh8 SOFA If the 5h8r85 are publl¢tylraded orlhelifalrvalue can olherwlsebèmè8sur8d rellably. D¥lJtor• ond¢rodltoi8 M¢•lvathl•/payabl• wllhln oneye8r Debtor$ and ¢￿ditorS r0colvabl& or ￿Yable wilhln on? year 8ro Temrded at transaellon price. Any losse¥ arI5Ing from Impalrmenl 8re recognlsed In gxp¢ndrturo, ui year In whkh Ihe Impairment ad8es. JJ Funds Unreslrl¢ted funds are donatlons and other IncornSng rèsaur¢$s r¢¢8lvable ol generated for the oblecl$ of the Charlty wllhoul furthtr spedfi8d puipo88 and are available a$ 96n•ral lund$. Th& Trusloe$ have deslgnated eertaln funds for specific purpos9$. The$¢ are sol Out in Nots 13. Th& pOrma￿nI èndowment lund Is 8 capital wberg Ih8r?18 no power lo ¢onvert Ihe capftal Into Income. 11 musl be hèld indeffnilety. RLGLA55POOLCMIANYIRUST ANNUAtnEPOATJ%lDACCWPlfS

L GLASSPOOL CHARITYTRUS OTES TO THE FI ANCIAL STATEMENTS ICDnUnu90 ACCOUNllNG PoL￿lEs l¢onVd Re$trl¢led fuftds alè funds whlch ar8 to bg used In a¢¢ordance wllh Gpèdfic rg8trldlDn$ mpo$ed by donorg or whlch hav8 bgen ralsed by thè ehartly for partl¢ular purpo8es. If any dkecl wsts of tslsiny and admlnl8leiing such fiJnd$, 8u¢h costs are charged again81 Ih¢ sp8cifL fund. The aim and u$e ol eath reslrfcted fund 1$ $¢1 oul In the ngts8 ty tho llnandal Slalemenls. Ponslon$ Th8 R L Glas6pooI Charlty Trust (charlly) oper8leJ a dth8d conlilbullon p18n, maklng payments lo Ind￿dUal penslon Schemes In ae¢ordanco wllh Ihelf contract ef tmployrnenl, A numbei ol Ihe Charity's emplgy¢8$ bebng lo th4 P8nsloD'¥ Trust Cgro8r Avèr8g8 Revalued Earnlngs I'CARE? Penslon Scheme, whlch 1$ a defined bgneflt $¢heme. As11 Is not po$$lble lo Idenilfy iho ch8ri1y'$ $hare ol the underlylng assets and 1Sablllll&s In the schgme on a ¢on6161enl and re8son&bl8 ba$l8, conlilbullon5 are charged lo the In￿￿e and expfrndllvre ac¢ouni 0$ Ihoy are pald. The ¢harily alsts makes conlrlbullons lo the schèmo in rekuon to a defl¢il on a past employees, deljned benefit 5chomg and h) 8ccord8n¢e wilh FRS 102 tho ¢hailly re¢ogn158s Ihe pr8$ent valuo olconirSbullons payable. IJ Op8r8tlngL¢a8 Rènials appllcablg lo operallng 18#8es wh&r8 eub$tsnlklly all ol the benefits and ri$k$ of ownerBhlp rernaln wSlh the lessor are charged to tho Slatemenl of Flnanclal Act5vlllè$ on a slralghl line basls overthe period ollh8 lease. m) Judgwn•ntsandkeysource$ of 98llmation twKert&lnty ACC￿￿tIng ¢$limale5 8ndludg?menl$ aro conllnuallyevaluated and arè based on hi8lorlcal pxpeibnc6 and Other fa¢lor$. In¢iudlno expeclaiions of future ov¢nts Ihal ar8 belleved lo be r8a8onable uftderthe ¢4￿Urr￿stanC6$. There are no k6y assurnplionB con¢8rnln9 thè fulufg olhgr key sourc88 0188llmallon uncertalnty al tho fapDrtlng dat8 that have o slonificanl rfsk of ￿Y¥ln9 a malorial adluslmenl lo the carylng amoun18 of 8858ls and Ilabllilles wHhln rFexl finan¢lal yéar. nj Prlorporlod•dJustfft¢nis Where an error or oml$sJon Idenllfled In r6sped of eompar8bve fjgurt8 Ihls Is adlu$lod In the precedSng perfod. RLCUSSPOOICHOJIPTYIftUSY NUALREPORT ANDACIOUNYS

R L GLASSPOOL CHARITYTRUST NOTES TO FINANCIAL ST TE R EPIDED 3 Iconlinuedl INCOME FROM INVE8TMENT8 2024 2023 Other Invt8lmeTht Income 2,306,611 2,161.617 2.308,611 2,161,617 INCOME FROM CHARITABLE ACTivmES- A8 ra$tat¢d 2024 2023 Grér 150,QJO 3CKI.L 160.000 300,000 Grant In￿ Included £150.00012023'. £100,000) olre9tr1cted In¢LX)1O. ¢HARITAeLE ACTIVITIE8-A8 R•$tatsd 2024 2023 Grants; E6¥8ntSal Llvlng Fund 2.148.951 1,954.094 2,146.931 1.954.094 HR¢￿ta. Wage$ Sodal so￿rity Penslon Redundancy Pay Other HR Costs 154,480 11,398 30,749 f,¢OO 4.283 153.871 10.770 31,341 8.808 201,8 202,$90 D8vebpmenl Communlcaiions & Subscrtplloni Ofrk8 Ctrsts & IT Travel SuTrJry F•es pald loAudllws fornon oud Bookkeg￿nq and accounlancy108s Insursnce Inveslrngnl manager fee$ Governan￿ lseg Nole 61 1,950 9,412 37.841 12,Q73 83.365 528 251 1,046 11,755 3,569 12.235 13,442 19.221 3.191 11,997 17,333 2N46.3B4 2,276,702 Grant8 IE668nllal L￿{nu Fund) Include$ £110,00012023.' £75,0001 of 8XF4ndllui?whE¢h wag da551fied a$ reslrlcted in the StBlemenlol Fhianchl Acimlies. RL¢L455PODLCMAII7Y7nu5T AIINV•IBEPORTMDK<OUNfs

R L GLASSPOOL CHARITY TRUST NOTES TO T E FINANCIAL STATEMENTS REN IConUnuedl CNARITABLE ACTIVITIES lctsntlnuedl Av6ro9¢ nuffjbor ofemployaes Numbbr accrulng r8llr8mani b¢nefit¥ underdefinEd benerrt penglon schome8 2024 2023 Ona Èmployoe reCe￿ed rémunèralion In exc885 of£O0,000 (2023.. Mn81. Th8 numb•r of omployee8 who emoJments lell wtlhln Iha follwAn9 bands wo$.. 2024 2023 £eo.001.£70,QQ) All qranlsto orgJnlJattoni ara admknlstewdtsr the banefitofnamed hdlvlthJals. TRU6TEE8'AND KEY MANAGEMENT PERSONNEL REMUNERATIONAND EXPRNSE8 The tr￿￿0& dFd not r¢¢tlve any Temu￿ratIOn Ih&yearP023'. £NII). Tho lotal amount of gmpbyee benefits r8C8lv8d by key management per8onnl IS £76,080 (2023: £73,114). Tha Tfu$I Mnsld•r¥ Its key managom•nt Por8onn81 to ¢¢mprf88 Ch￿r Ex$cuiivo Offlcor. 21rusl8as had axponJe$ relmbursed durkng Ihe yeartol8lllng £38512023.. 1 fDJ8tee-£978). GOVERNANCE ¢08T8 2024 2023 Audttf688-kr8udit $eMcos Audllf68$- lor Oiher se￿re5 Legal and Consullpncy foes Trustee Me81kn￿ 8nd oxpen685 Trustee Tr￿ThIng 8,292 5,454 2,100 1,239 248 7.710 1,732 17,333 13W2 TANGIBLE FLXED A8SET8 Fumllur¢ & Equlpm•nt COST Al 1 Awll 2023 59,852 Al 31 March 2024 59.852 DEPRECIATION Al 1 Aprll 2023 59.852 At 31 Morch 2024 59,852 NET BOOK VALUE 31 MaTch 2024 81 Mai¢h 2023 RtGLAWOOLCHARffYIWST AtIMknAIREPOItTINDACCOUTrftS

RLGLA SPOOL CHARITY TRUST OTE IALS ATEMENTS EYEAR ENDE03 IConUnu¢dl ARC 2024 8. FIXEDASSETINVESTMENT8 Markot valL¢8 1 Aprll 2023 Acqulr•d In year Dlgpo$•d In ye8r Inupasel Idecie•801 In market Value Markqt Vdlu? 31 Ma￿h 2024 Ch3illablv Property P￿d M&0 Charlfvrtd Clvlla$ So¢l•l Hou•lng HICL Inlra¥tru¢lur¢ Pi¢ Unlcom UJ( Income Fynd Yhe Ronowobha Infraslru¢iur• Gp M8yfairCapltal PITCH Blu•n•ld Solarlneom Fund ie?rs¢og1 UKWin41 SPDR s&p f>lobal Ohf. ATFsto¢ro In¢einollDnal Publ1¢ Partr￿f NB Priv81e Equity Partners Prlnuts Prfv4le Eoulty S¢oiiiih M¢rtgAg¢ Tilple PolDI So¢lal Hou91ng OulnJB3 Gkbal Equlty Incorne M¢nk8 Roy81 Lor 1,737,?20 4.OBZ,282 2.054.994 3,484,r57 3,074,050 1114.1541 174,¥e31 1.622.9eo 4.Q07,71 12,054,9>41 1647,9941 . 121,575 2,141,763 3,195,e31 3,563,008 4,267,657 1,674,95D 2,676,137 1689.0401 1271,7011 1467.6401 P90,e861 2￿￿3,86$ 1,2Q7,41Q 2,284,44 937,955 1,699,099 4.805,353 3,OS4,19e 1,388.925 410,258 1,003,061 1.QJZ,309 ?3,52fj IZ29.705} 701.137 377N 440,870 248,620 277,e53 169.723 51,48 1.369.384 s￿08.490 3h31,892 1.429,795 2.194,361 2,611,675 1.094,678 1,63Q463 1,530,￿1 167A941 1644,9991 544,M9 4V.76Q.197 3,OQ6.313 .887,?gn 1428,7881 41,230,367 Ca•h hekl thV•¥tsn•n1￿rff￿ 629.¥8 Tolal 40,710.197 41088,723 Hthtolkal c￿1 44.977,619 ,219.462 All Inveqtrnenl8 are carrlgd ot th¢lr18lr valug. Inv?81mgnts In ¢qvlllg8 gre oll treded In quoted publ1¢ markets, prlm6rTly th6 London $lo¢k Ex¢lMnue. Hoidings In ¢ommon Invetslmentbjnds. unil Irusl8 end vpen-ended Invesimenl companles ao al Ihe mld prth. Thè ba514 olfolrvalue forqu0￿d IrN8slmoni8 1$ •qulvalonl lo Ihe maiketV8lue. u81ng Ihe mld pFIc8. A88el 881¢8 and purchao¢$ ore recognlsed atthe dale olliad• al co$1 Vhal ts t￿Irtra￿dron value). 9. DEBTOR8 2024 2Q2a Pr8paymeni6 and ttuu•d Income Olherdebl•r$ 7,689 24,742 6.780 211.490 32A31 220,260 ftLGL4S5PtrX(IL41ryYTRi61 A¥￿EPORT A4DI((IYmT5

R L GLASSPOOL C ARITY TRU OTES T E FINANC L STATEME AR ENDED 31 MARC (Coniinued) fo. CREQITOR8: Amoun18 lalllng dugwlthln ono yèar 2024 2023 Accruals & Olher Gran18 commilmenls 74,379 107.Cfj2 84,731 186,629 181.441 273,360 11. ENDOWMENTS P¢rmonenl endowrn8nl# Thèfund5 ￿re establlshed undera Deed ofTrusl daled24 July 1939 ond a S￿ppIe￿ne￿t¥l Deod of TruBI dated 29 July 1847 by the late Mr R L Gla56pooI, Thè Deeds of Trust were repla￿d by a Schgm8 dated 17 Novèmber 1998 under Ihg Chari110s Act 1993. The almB of Iho Tiu$l arè slated on page 7 of the Annual Roport. All in¢oming resour￿& from permanont èndowman18 1$ unre51ricled. Thg Irpn5fer between ondowmfrnl lund$ And general fund tj lo r¢tle¢t Ihe muthet value po$lllon al Ih8yearend ofihe fixèd 888el Invoèiménls. 12. ANALY818 OF NEY ASSET8 BETWEEN FUNDS Unr¢•trl¢tvd Re8trl¢tsd Endowm•nt Fun1$ Fund8 Funds Total Funds 2024 Total Fun(l• 2023 Flx¢d Assts 1,723,974 40,144,749 41.868.723 40,750,197 N?leurrent o$s¢Is 1170.080) 05,OL)) 1105.0301 384,532 1.553.944 6S.QOO 40.144,749 41,763.693 41,134.729 PoMl¢n Llablllty 130.7311 130,731) 148,7981 1.023,213 65.QOD 40,144,749 41,732,962 41,086.931 ¢omparallvé parlod.R•¥tatod lJnr06trlcted Fund¥ R•¥trlcf•d Fund8 Endowm•nt Fund¥ Total Fts#ds 2023 Ffrxed asBets Ne1¢U￿en1a61ets 1,012289 359,532 3tr,737,808 40,750.197 384.532 26.CQO 1,371,921 25,O)0 39,n7,808 41,134,729 Pontslonllablity 148.79S1 148,7981 1,323,123 25.000 39.737,808 41,086,931 RLGWSPOOL(HIlI￿lftDSI AMlaYALnEPOftT I￿>A(cOuNT5

L GLASSPOOL CHARITYTRUST OTES TO THE FINANCIAL STATEMEN YEA ENDED3 Iconbnuedl 12. DE819NATED FUND Bil4n 1 Aprfl 2023 Movement tn y¢ar Balan¢0 31 PAarch 2024 Trn¥foM Pgnsl¢nioseN& 600,000 o,oco) 2fy),000 Comp4rabl• Inlorm•tlon Balance l Aprjl 2022 Movemon¢ In yèa Balan¢¢ 31 March 202J Transforn Pen8Sonre$eNO 600,Q)D Tlw penglDn TrseNe' represvnts reserves Ihat the TNsleeg hBve dB$lgnaled lo rnanaBe the dsks a550daled wllh paTI￿palIty) In The P0n51on5 Trust Career Average Revalued Eainlros Pensions Scheme, Indudlng Iho potonllal eosl lowmhdraw from Ihe Scheme. sIn￿ Ihgyear end the Trwlo* hav8 bèen advlsed by Ihe Scheme 8cIu8118s ltr￿ Ihe Employerdebt on wilhdrawal for the Tn￿1 Is t5￿Mated to In tha regim tsf £104,000. The Tw51oe5 Ih0refor6 Inte￿ lo r8vlew the 18v81 of d8slgnalod rwN88 81 fulure Board Theeungs. and conllnua lo manage the N6k6 a6soolaied wlth parfidpouon In the Schemfr. 13. RE8TRICTEO FUND Belanee 1 APTII 2023 BHlan¢e xpendoturo 31 March 2024 Incomo Drap8rs Sklnn$rs Merce Newby Trust 26,CbJO 26.000 10,000 40.000 75,QJO 125,0001 110,000) 26.020 8,rKJ 26,QOO 15CI,IKNJ 1110,000) 85,ON) Draperi •Mo¢oiion of Floxlble Fronlllng Fund granlo UP to £750 acro48 th8 London Borough of Walth8m Forest durfng 2024r25. SkSnn8r8 alloe8llon of E88enlAI Uvlng Ftsnd yrènls UP to £600 pèr gmt, a¢rofys KeDt and London, ov¢r 2023124. M&reera-ollo¢alion of Flèxlbla Fronlllno Fund granls up la £760 pergianl, lorpeopl• 8god 55 8nd over, 8¢r080 London. duTSng 2024126. N¢wby Trust 8llocallon of Eli￿11￿1 UvlnB Fund gr4n15, 14> 10 £400 per 9ianl, ov8r 2023124. Household$ mts$l Indude ot le88t th)e pèrson o¥p¢rf?n¢lng lln8n¢lo1 hard$hlp, plus onolher glgnlflcAnt ¢halleng8. Buch as b8r88vom8nt, d5vorc8, abuse. hom8108sn81s, 8ddlctl¢n. dl$•bllity, 0r111 heamh. Comp•r•iiv• Infomiallon IR•8latsdl Balance l Aprfl 2022 Balane Exp?ndliur• 31 Mar¢h 2023 In¢omg Dt8per8 NthvbyTNuBI 25,000 75.000 25,QtsJ 176,C 100,QOJ (75,IX¥)) 25,0 RL¢LASSPOOL¢II•JiiTYIRusr INNVAiftÉpoRf4MDAC<OUNTS

R L GLASSPOOL CHARITY TRUST NOTES TOTHE FINANCIAL S MENTS YEAR ENDED Icendnuedl 115. FINANCiALCOMMITMENTS Al 31 Morch 2024 tha TN51 had annul ¢ommltmènls vnder cperallng leases. lolal lulure mlnimum llnanc8 leaso paym•nt5 are as follows.. Land and Bulllllngi 2024 2023 other 2024 2023 Not laièrihan orffj year 7.700 7,700 q6. PENSION A numbor ofthe R L Glasspool ¢harFty Tw$1 Icharityl cuirenl and pa$1 8mplDy88$ are membefs of Pension8 Tw6t (TPTIA Care¢r Average Revalued E8rnlng8 I CARE'J Pen$lon Schemo whlch is adosed Mulll.Employer Definad Beneflis sehornewllh Ihg as8el$ balng hBld In aTruslee admlnl$lered lund. Th8 5chgme wa$ closed by Ihè ￿hem0,8 tru81ee (V&rty Trvstee Llmlledl lft ApA12018. The lèiest full a¢luarfal valuation of tho s¢hgm& wa$ earned oul on 30 Seplgmb8r 2￿2. Th18 V8th1ion showed 8S8el$ 01 £49.6 rniNon.11oblllUes 01 £57.1 fflllllon and a def￿￿1 of £7.5 rnllllon. ThLs LI6￿￿115 bfrlng recovered from employe[$ wllh annual'd6ficll conlrtbuilons, pald annually on 161 Aprll escalating al 3% pa over the rg￿V0ry perlod (to >) Sèptember 20271 Ihat has been agreed wlth Thè P8n51on$ Re9ulalor. In th8 comlng year Ihe ¢harlty's d8ficil ￿ntributionS are £10,e69. Tho tharity ha8 re￿gnIsed a liab1151y mgasured a5 Ih8 pr¢6ent valuo of thè nlrlbultons payablè Ihal aAse Irom thè defial r8CQV¢ry. Pi•Mntvalu• of provl8lon 2024 2023 Presenlvalu?ofdofictl provlBEon 30.731 48,798 R¢¢ondlthtlon of opgnln9 and ¢loilng pmvlglon$ 2024 2023 PJoVJ￿th al I￿rt olyeer Umlndkng of the dls¢ountfa(atY DefK4tcontrfbul￿n pald Remeasw8menl8-Impacl 018ny d)?nges h assumplbns Rern8asw8ments-omendmonts to Ihg ￿ntributIon schedulè 48,798 2,234 111,4981 97 I8￿D0) 61,338 1,411 111.1631 <2,7881 PithI￿oN at end oly8ar 30,731 48,798 RLGL155POOLuMllnYilUSI

R L GLASSP OL CHA TY TRUST TESTOT E FINANCIAL STATEMENT FO R ENDED lconllnuedl 1& PENSION Iconllnuedl A8sumptlon$ 31 March 2024 % perannum 4.95 31 M•r¢h 2023 % perannum 5.18 31 Mar¢h 2022 % p8rannum 2.55 R oldk8count The dlscwni rates Show￿ abovè #r8 Iho equlvilenl dlscounl ratss wNch. when used lo dL9counl ihe fulur8 recovery plan conirtbullons due, would glve Ih& $arn8 re5u118 as uslng a AA wrporale bond yl8Jd oJTheto dlscount the Same Fecovery plan contrtbullon$. Curr•ntStaff PenJlonSch•m• th th8 ¢198ln9 olthe CARE schome the (arfty mov•d all tho ￿811t¥j otaff Inle TP7'8 Fl6¥lblo Rellrement P￿n a OC sch8me and agr88d lo coniinue paying 11.5% 01 the employees, pensionablg salary as th8 grrployerconlrlbulFon IlggBlherwllh an In$Vi￿¢& thalwould coverslxtlmes Ihe employ88* pen$lon8￿8 $81ary ahould thèy dlè In serwlcel. Total Ponslon ¢osts Th• conlrlbutlons of Ihg ¢hoAty omtrJnl¢d to £30,749 P023.. £31,341). Included prepayment¥ 1$ £069 of pen#ion ocnlrlbtstionj due 91 the year end12023., £1,440 h￿uded In a¢crualsl. 17. RECONCILIATION OF NETINCOME TO NET CASH FLOWFROM OPERATINO ACTJVITIES 2024 2023 N81 Incom? b8lor8 g81nslllo88eBI on Investmenis and pgn8lon8 Dlvldend8 and Interest r8ce5ved D6crea58 In debtors IOecr8asel In ¢redllors 32,412 214,024 12,308,811) 12.101,6171 167.819 8,104 191,919) 1138,2311 Nal eash llow In￿ op8rallw aall￿gIeS 12,180,299) 12.077,720) l& ReLAYED PARTYTIUN8ACTIONg Durlng Ihèye8rthei8were no relal8d partytraNacllons12023'. n¢￿e}. Transacuons Wrfh Iru$tg98 and key monog8m8nl personnel ale thsdoied Irs Note S. QLGLASSPCOLCMIRITYTwsr NUALnEpoAT A¥DKCf4lhTS

R L GLASSP OL CHARITY TRU OTES TO THE FINANCIAL STAT MENTS DED Iconllnuedl 19. CONTINGENT LIABLifiES A5 sel out In Note 16. 11 TDJsi Is a membef ol The Pen51on5 Tw51 Career Averagg R8valu8d EarnSn9$ Pen￿on Scheme, which ly a doi8d Mulb"Employer 0ofln8d 88nefrt Sch8me. In the event that the Trust Is the'Lq¥l man $landinrf of employers vMlhln Schème Il would be¢ome Ilablo to a fvmher labllity under the terms of the Sthrno. Th& full Ilablllll8s ollhe Schoma èrè #el out In nol¢ 16. The Trusiees are actN8Iy tak￿g 5bp5 tornanw th1$ A¥k, Ythch thoy ccffl$ld￿lo bB remol8. 20. RESTATEMEIIT OF FUNDS Duilw Lh6 year, tt was Wenllfled that 8 rè$liKled grant of £75,OtX) wa5 IrKorreclSy uiduded a5 unrB51riGt8d orro h th8 ¢omparallvg ngure$. Actordifigly. a prior y88r 8dju$lmenl has been made lo r881010 IKorne a$ re$Mcted InLwa. Thg r¢8uII of thi5 adjuslmenl 1$ to Smaso re$irfcbJ hcom8 Irom ¢harilablo 8Ctwilles by £75,DJOand reduce unro$trf¢led ￿n￿rne ty £75,00). In addllon. tho r81al8d exp9ndluro ¢1 £75,000 was recorded a$ un(e$ifi¢ied 8xpsnthiur0, A prfLY pgrfrm 8djvBlmenlha$ been madg tr) re$tab th1$ &¥k￿￿￿lIvE0 to reStr￿ted expendilure. Th¢ re8uII olthl$ lustmgnt Is to In￿ease ￿$￿￿tEd expendliura on charllaN• 8ClMIL8$ ty £75,QQJ an(5 reduce unreBlI￿led expendllure onchailt4ble act1v￿o$ by £75,(￿). Ther915 no n8lknpa¢ton loial asgets orthe olnet 858et¥ ty a$ a r•5ulof th8sa ￿PJSIm9Dts. QLGLaS5pOOLC￿4IlTYyjvjY AMtWALREPORfANOAC£OVMTS

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