REiJfERS CENTENARY FUND Report and Fh)andal Statements Endéd 31 D¢¢•nber 2024 Chwiiy Nwnber 219404
REUTERS CENTENARY FUND CONTENTS Paggls) ReF¥)rt ol the Tr%190 Ind8pendent Auditrys. Rewi Statement of FlnarKial A(ville$ BalwKe Sheet 10 Notes to the Fvi¥Ki Statem•J 11-15
REUTERS CENTENARY FUND REPORT OF THE TRUST THE YEAR ENDED 31 DE EMBER20 The Trustee r8serts its rep(Kt ah)ry writh Ihe 8udit•d finala1 slatements of Reutern Centenary Fund (Ihe Charlty'l the year ondgd 31 Decerthr 2024. The Trustge has prepared the rewrt a)d rinancial stat8monts in xccdance with PaoLrting aTrJ Reporting by Charibes: Slat8m8nt of Recommended Practice a[ICabl lo rawits prying thow xcounts in accordance with the Financial R9wting Standard appkth the UK and Repubk of Ireland {FRS 102. effgctive 1 January 20201. OBJECTIVES AND ACTIVITIES The objective of the Ch 15 to as5iSt nece5sikn persons we. cr have been. in the seNice of Reuters Limited or any of its 5ubsbSariES arwj the ¢ndants of such persons. Grants are awarded at the disryetion cl lthe Trustee llhe ConNnittee'l and vary in size depending on beneficiarie$' circumstances and invesknent perfomwrKe. Consequendy. tho ThJmber of grants awarded may Ilu¢tuale between ygars. The Crynmittee that Ihe Charity's activities and objecttves are align8d through regular meetings where deci5bTh regariling grant alOCati are mad8 by maj¢xity ACHIEVEMENTS AND PERFORMANCE During the year. the Charfty awarded thirteen grants tolalling £38.172 to lheen Indlwduals (2023: seventeen grants tOtsIn9 £114.589 to seventeen indNhJuals). In 2024, the Charfty ded financial swjwl lo benefan&S for Ihe sethment of variLW8 medlcal costs1£17,5751 and provKled ffinanal supp1 to famitses experiendng fmandal hardshlp (£20,596). The Trusl8e consider that Ihese ivitss are to Ihe tonefrt issued by th8 Charity Commission as referred to In secllon 17 of tho Clwitles Ad 2011. FINANCIAL REVIEW The Charivs work Is rellant on relums from furth inve81ed kn the Resp)nSIb MuAI.Ass8t fund IRWI. At 31 Decembw 2024, the Maet value of the Charity's Investment RMAF was £2,564.411 (2023.. £2.471,337) divbjends of £104.587 (2023: £89,108) were received dung the y&ar. A gain of £93,075 (2023: £74.122) was r8cognised crf) the increasè thè m8rkgt valu? of the investment dng the yu. Reserves It is the policy of the Charity to maintsin Unr9Strk funds. are thè free rDIeS of the Ch8rtty. The Charity's reserves pothcy stems frThn the wwestrnent 11. whKh seeks to mMise incom8 while proteding capital Wa. The Trustee Th¥)nbtor investment perfCffrnan and adapt the level of charitablo a¢e5 accordingty Sh that the Charitys b818nce of reserves should be steady over timg. Al 31 Decenw 2024. the Ch heWJ reserves of £2.777.332 (23. £2,611,225). Investmenl owers and li Reuters Centenary Furbj Limtsj acts as Tlustee of Reuters Centenary FuTrJ arKI as such purtha5es. 8e115 and holds nvestsnenls on behf of the Chty line with the chty'S overall invgstment strategy of maxirritsww whle c4ilal ¥88. SthroJgr & Co. Llmrted is retsined 0$ the ftmd manager5. FWVi(kng wartety writton reFKrfts to the Trustee on th8 investment [lOrm and meets with the Trustee on an annual basis to r8vi8w tho investments. As al 31 December 2024. the Onl of Ch8n$ ¥ivestrnenls was hgld In RMAF, wlM)se staled inv8slm8nt obj8ciive is to al leasl maintsin Ihe real ¥u0 of caFital over th& long 18mi lIst generatir a suthnabie and reliat4e di5knbuti¢)n thrThW investment in colle¢tive investrnent schemes
REUTERS CENTENARY FUND REPORT OF TH TRusfEE FOR TrIE YEAR NDED 31 D CEMBER 20 continu8d Investment wers and licies as well as dirgctty held transferable sgwilios. tJerNakn. c8sh. deposits and money mark instruments. The fund is deswaled to wovrde a bal8nf of risk relum fr¢¥n broad diversification. RMAF adopts a tolal rebjm approach and aims lo distrUte 4% p.a. The a¢al dislribution for the ygar el9 31 Decemtw 2024 TK4$ 8.1%12023: 6.WA). The Tnjstee consider that RMAF'S and the chari5 ct4ectives we and are of Ihe vw that the fund remains a suitable invesimenl the Chty. In During year 2020. 1% inveslment in the Chwity MuttkAsset Fuj (CMAFI was svAtchgd to Responsible Mulkn.As8et Fund la sistw fijnd I0s& on ethic WNeslmenll IRMAFI. WIDENING OF 8ENEFICIARY CLASS Trustee has receNed a final Stsne ¢)n 18 Febnw 2025. frcxn the Charity Commt5sion to wkl the beneficiary class of the Charity Ihe acquith of Reuters GrLp PLC by The TtrKmsCffl Corporation in 2CiI8. The Trustee also nnUe to awd fft li lirn 7lh Ihe polws ofthe Carlty. STRUCTURE. GOVERNANCE AND IA4NAGEMENT Reulers Centenwy Fund was created as a chitb fuThJ by a Trusl Deed betM4een Reuters Llmlled and Rethers cantY Fund Limi18d in 1951. the R¢utWS' C4nt8nary. is a registered charity with reG¥stered charity number219404. The Truslg& $titUte a bcrtty as the Conmnittge. whith 1$ the main f(Kum for dgdsi0n4nY and allocation of grants. The Committee has a rrAximum of 12 members and is made up of representatives of the emFloyees (past and wesent) and managemenl crf Thomson Reuters Groups. Financial & Risk division corpc¥ate orkn. Tr Conynittee is free to regulate its proceedings as it see8 fit but is r6Nuired to meet a minimum of two till per calerKlar year. although in praclice it meets around ftxy tlmes per year. Matters wislng at meetkngs are dedded by malorlty vote. The Committee 0 operates a Yas14rack" Fwcethjre. to make ergen decisio on grant all0110nS arising beiween meetirvJ5. Using e-mal to cwcuLite det aTrJ to vote on the request. ointment ol Trustges In accordaKe with the Artlcles, the direclors are reSP1b$e fix Ihe management of Iho Company's res9$. The diTert all together will constitute the Committee. The number of members of the Committee shall be 12. The rnembership ol the Committee (and thereft)re the membeTship of the Company) Should, as as possib, relbecl the geogrwlmcal make-up of Thomson Reuters Group. For thls wrpose, the 12 members of the Commmtee ghall cons19t of al least three representstives of the HUrn Resources arbnent of Th(ynsc Reuters Group. and at bast one ropresentative of the Editorial department. This ProMYsion dogs not pr8cILwJo a MmuM of four Tedred Thomson ReuteT8 Group staff from rj methts. Riskm na The Trustee h88 intrO¢d a ftym81 rk man•Jernt pr$ to assess busSnes$ rl$ks and m ement risk mwa9ement $trfjgies. Thu8 wwolves idenbfying the types of risks the fvnd faces, prforibslng them temis of potenti impact and IKkelhood of oCCur identifylng means ¢ miligatiThJ the risks. The Tnjstee have delenrrined that Ihe principal risk5 affecting the Charity relate to investrnent performance. wlM"c is the key determinant of the IBvel of fvnds available for use in charitable acb"vities and 15 pivotsl in the ¥thiev8menl of tr CtrArlty's ot¥'ectives. Thls ri9k1g mltigalèd Ilvough the broad wrtfolio of assets heltj by the fund in whKh the Charity invests.
REUTERS CENTENARY FUND OF THE TRUSTEE FOR THE YEAR ENDED 31 DECEMBER 2024 ontin STRUCTURE GOVERNANCE AND N4ANAGEMENT As part of Ihe Charity's risk Magement pruce5s. the Trustee ha5 revithvod tho adequacy of thè furHI's current int8mal cOntrS. Tho Trustee is pleased to rerxwt ihat tho fund's inlttnal controls. in particular. c(lOrM to gu*Jdines issued by the Charity CrynMi5si. Regul¥ revlews we carried out. Ih the latest review presented to the TNstee and ratified in September 2021. REFERENCE AND ADMINISTRATIVE DETAILS FOR THE C&IARiTY, TRUSTEE AND AOVISORS Reutefs centen Limited (CnY registrat number 499854) 18 and remained throughout whole year to 31 December 2024. Ihe scde trustee of the Reuters Certenary Fut7d. Under the Reuters Centenary Fund Trust Deed. th8 ptrwer of app(¥nting new trustees is vested in Reulers Limhe(l. The Truste8 Oxing th• yearended 31 Decemb8r 2024 ware 0$ folkjws: R A2am T Arlott R Baum N Papakyprianou (resigned 1 Novembgr 2024) K Stafftjfd J Wèir S Crang IEdnvJnds1 R Davidson A Assar P Garibian J Oafvlay {gned 15 AuSt 20251 A Richler N Amef (appohrted 10 0th 2024) Princi R 8aum l officers 8 Boaleng (resigned 20 August 2025) Prlnd al offi Five Canada Sware Canary Wharf London England E14 5Aa United Kingdom Inde ndent Auditors Prieewalerhou5eCts)pers LLP 1 EMbaNkMt Place London WC2N 8RH Investment mana ers Schroder & Co. Llmlted 12 Mcrf)rg8te L¢)ndon EC2R fjDA
REUTERS CENTENARY FUND T OF THE TRUSTEE FOR ThE YEAR ENDEO 31 DECEM8ER 2024 Contlnugd REFERENCE ANO ADMINISTrATIVE DETAILS FOR THE CHARITY TRUSTEE AN continued ADVISORS Bankers Citibank Crtigrcwp Centre 2 25 Canada Swa Canary Wharf London E14 5L8 STATEMENT OF TRUSTEE'S RESPChYSIB LlEs The trustoe is Te5PCm5ible fi¥ wepariThJ Report of the Trust88 and the financial statements in accordan¢e wih 8pplicable law and United Acc4MltiwJ Stsr¥Jgrds (Uted KlrvJdom Generalty Accepted Aonting Praclice). The law ¥Ible to ChareS ErylarKI arHI Ws rwwwes tnJste& to prepare flnanrAal $latements for eoth finanGi81 yqar whth gve a true and fair vivw of Ihe state of affairs of charfty and ol the Incoming resowces ¥J appucation of restyjrces ofthe dwrty fot that In prep¥ing these financial stments. ts Trysleo Is wireil lo: 5dect Suitati acojurthg polira8s and then appty them c¥181enty. observe Ihe melhods and princvjes in the Charities SORP: make judgments 8nd esl¥nates that we reasonabbg and prudeTrL Slate whether appFScable occounllng standwds. (lpSing FRS 102. have been followed, Sublt to any material deparbjres disdosed * explaird In the financial Statement5: and prepare the financial staiements the go1 c(rfKern basis wless 11 Is Inappropriate to esurr that the Charity will wi twine88. ThB trust8e is responsit4e for keeFing woper ar£ountng recor(Is Ilwt di8ck)se wlth reasonable accuracy at any tirM the finclaI positlon of the chity and enable them lo ensure that the fknanckql stslements comply with the Charfties Act 2011. the Chanty (A(xounl3 and Reports) Regulation$ 2008 and the provision$ of th¢ tn degd. They also rèsF4)nsit4e for safeguarding the assets of the charity and hence for taki reasonabl8 Steps for the preventK)n and detedion of fraud and other Irregularltles. Thè trustee 1$ re$pon$ible maintononce and irtswty the tharity and finanual inlormati induded on th8 thariVs website. LegslotiM in th8 Uniled K)gdom oo¥eming the preparaon aTrJ dissemlnation of finan¢ial statern•ts may iffer fr(Mn kgvslation in OIherNsdlction5 Inde nt It is the intsntjon ol the Tmstee to reakwoknt Thi¢ewatertthseCoows LLP as audRors for the current financial year. Provision of other infDTmation to auditors In so far as the Tnjslee is aware. there is M welevant audit rtxmall of vthkh Ihe Charitys auditors are unaware.
REUTERS CENTENARY FUND REPORT OF THE TRUSTEE FOR THE YEAR ENDEO 31 DECEMBER 2024 Continu The TnJ8lee has laken all the Step5 that ought *) have been taken as a Tw8lee in order to be awwe ol any revant aLpait tormatiOn and to e5ta)lish Ihat the audilorB are awar• of that informatr. On beh1 of the Trustee 14TE•I851IE4K• Date 30 Setrtember 2025
REUTERS CENTENARY FUND Independent auditors, report to the trustee ofReuters Centenary Report on the audit of the financial statements Opinion In our opinion. Reulers Centethary Fund's finaM#alstalements {the"financial &atements"): gi%E a true3] fair li1. of the51ate rfthecharity'saffairsas at 31 D&Tmb¢r2024 and of its inMIng YeurceS and applieaiitin ofresources, for the)r eThJed. hai'e beeii pmperl). prepated in attotdatKe ith United Kingdom Genernll)'AcLEwed AceountiTLg Practice (United Kingdoni AccountingStandanLs.comprisin8 FBS 102 Tr Finat)¢ial Rep)rtib)8Siandard applble in the UK and Republicof Ireland", and applicable lam.). and hai'e been prepared in accordantt i%itkL ihe ruIrements0f the LanIACt 2011 and Regulation 8 of The Charilies (Accounts and ReFK)rts) Regulations 2008). We haiE audited the financial ststements. irIllded iiithiD Ihe ReEM)rt and financial Statements (the -Annual Rep)rt"I, il'hh comprise: Ihebalanceshed as at 31 DeCemr?024. Ihestatemenlof financial aettiitie5 fortht }E2rthen ended. the accollnting wAities". and the notes to the financial 51atements. ii'tlich include a ¢kscriplion of thesigDifi¢ant a)UntIng p)lieie& B&qis for opinion Weeondueted our iudit in aLordanLt iiith Inlernational Standardson Auditin8 (UK) ("ISAs (UK)l and applieablt Idi%'. Our responsibilities UTvler ISA% (UK) are (urtherdribeJ in theAuditors' responsibilities for ihÈAudit of the finaneial slatements stttion ofour rerI. we11 ihat theaall th.nce haiEobtaina4 issuffKienl and appropriaie io Prde a basis fvour opinK)n. Independence We remained independenl ofihe charits. in 2cCnrdae Mith the ethitral wukremenls that tEknint toouravdit of the financial ststements in the UK. ii'hith indudes ihe FRC'S EthieAI Slandard and iiE haiE fvlfilknl ourotherethical resw>nSLbililie5 in accordan ilith ihese requirements. Condusions relating to going concern Based on the i%orK lie haie perfornied. haiE not Identif anj. material ynLvtainties Telating io thtntsoreortditions that, indiiidllall}' orc011111y1)'. ma). casi significant dou on ihe eharitj-s abilit). to eontinuEa5 a goiTLgconttrn for a twiod of at least hirhE l)lOllths from thedate on iithich the finaKialstatsn)entsaTraulhoriwJ fOr1lle. In auditingthe finala1 atementS, lye haie LY)TlUd Ihat thetru5tee's use of the y)iDgcornYrn basis ofacUn11nS in the prepara¢¥)n of the financial statements isappTopriate. Hvrr, bffause not all future OEnts orcondilionscan be predKLYI. this condusyJD isnot a 8uarantee as to thechari"s abililj. to continuea5 a goingcoiittrn. Our restx)nsibilities and the responsTri Jilitiesof ihe IThtee iiiih res1 togoingLYltrnaYe desenW in the fElts3nt seLionsof this [t. Reporting on other inforniation The other information LY)mpri5e5 all of the inforn]abJn in the Rew)rter ihan ihe financial s¢atementsand ourauditors. IMTrrt ther¢on. The tnLStee Tesponsible for the (rther informat)n. rOpinIon on the finat)eial statementSd¢S not Er theother information and. accon4ingl}'. iirdonot exp? a111 OpinnOr any forn) of assurdll thereon. In eonDection iiith ouraudit of the finartcial ststemenl our wnsibilitv is to read iheother informalion and, ITh doing so. considerii,hether Ihe other inforrnatn is rnateriall). incnSIsteI iiiih the financial statements or our L%.1Se obtained in the audit. or otheniise aparS lobe materially mi&ststed. If lit identify. an apparent material inconsisienej. or niaterial misstalement. iiEare requird to rfOrnI prrttdures tocOrlde%}elher thete is a malerial misststement of the flnaneial statements ora material misstatemeni of ihe other iDfom)ation. 1f.baxd on the iiwk" hai'e rftsrMed. li'e conclude that the is a nuterial misstatement of this (rtherlnfOrntIO.I%are requid to thai fad. We hait nothins to reporl based on these responsibilities. Based on our iYOTk undertaken in thecourseof thealit. the (kriliesAcl 2011 wuirtsusaiso io report rtain opinions and matters asde5criikYl k)ll.
REUTERS CENTENARY FVND Report ofthe Twtee Under the Charities Act 2011 iiEare requIa to rert to)"ou if, in roPIn ihe inforn]ation 8ÉIEn in Ihe Reptsrt of the Truslee is ineonsisieni in anj. material res iiiih the financial Statemen We haie eXptIo5 to retK>rt arising from this SponSIbl1]t5.. Re8ponsliMlities fr•r the financial sttenttts and the audit Responsibilities of the TFVSteefor thefinancial statements A5explained more fulls. LIJ the Slalemenl of Thistee's RestA)n&biliiies ihe irnee 15 rwnsible for ihe preparalion of the financial statements in accordantt Iiith the applicable framei%Drk and for being 5ati5fied that thes. gli? a trueand fair iiei¥. The truslee is also restKptLsible lor Shlch internal cnntrolas the)"deterNskne 15 &saI) toenable Ihe p]rparation of financial statements ihal are (e friAn nwlerial misstatenllt, 1¥1herdue lo fraud orerror. In preparing ihe financial statements. the tnLStee is wnsible forassessing ihe charity s abilit5.to continlle as a going concern. dIlnga$ applicable. malte re]ated logoingeonLtrn and usin8the goinscontern basis of acixjunling unless the trusttt is either intend to Iw4UMlate the charityort0se 0ra110[. orhait Th) listIC alternatiit but to do). Auditors, responsibilitiesfor the ouditof thefinmieiolstotements Weare eligible toact aTKI haiE ien appointed asaudilors uThJersection 144 of the Ch8ritiesAct 2011 and report irl awjidancciiiih the Aet and rekngnt regulation5 rnade orhaiin8 effttt thereunder. Ourobieetiis are toobtain reasonab]e aSSUrar aFA)Ut ii'hether the finaticial 5tatemeThtsas a i%'kle are free from material misslaternent. lithetherdue to fraud orern)r. and to issuean atsditors. repxt thai itlcludes ouropinion. Reasonable assu13D is a hish IOEI of a&suratJtt. l)ut is not a guaranlee that an audit o)Nlueied aceordantt ilith ISAS {UKI iiill ali%?J% detect a material MilateMent iihen it e¥isls Misslatemenis arise from fraud orerror and arecoThsideted material if. indiiidually or in the ag8)Y8ate. the). couhl msonabb.be expected to influence theeconomi¢decisionsof users taken on ihe basisof these financial statement& Irregularities, including fraud. irn8iaNces of iiith lai%E and regulatiors. Mre design pureS in line iiiih our resrAJnsibilities. outlined aFtht, todeteet material tnisstaiemenls in reSFeCtof irregularities. including fra¢Jd. The extent loil'hh our prnxedures aCapable0f deteding irregularities. includinsfraud. detsiled beloii. Based on our undelanding of Ihe charit)., IE identified ihat the principal Tisksof non-complianct iiiih laiis and regulations related to the Charities Acl 2011 aTKI TEknanl regU]atmM madeor hairyngan effect thereunder. including the Charilies (Actountsand Reports) Regulations 2008. and considered the extent lo iihith non-complianL* rnight haiE a maierial cffcet on the financial stalements. We 21ated the irttnttirs and opwkrtllnitie5 forfraudulent manipulation of the financial Siarements lineluding the risk. of mtrride ofeontroLsl . the trnstee th[ SpONSIble for, or ini'oli'ed in. the preparation of the financial 5tatemeTht4 and deterniined that the princhpal ti5ks iltre rrlated to the ting0f inappropriate journals to manipulate the financial AalemeThls and Ihe ivppn)priate rrfwition ofgrand expeThditur Audit PEdureS perfOrnd included: Identifyin%and testhn%N)urna1entrn51th a hKhlenl focusonioyrnal eniriesi¥ith unusual aLwunl tombinations: ObtaiThins iThdependeDt Confirmath) for Ihe i7luatKbn of iniE51tnentsand ¢xsh al Jtarend. Inquir). of nunagen)ent. ineludingconsideratK>n of knomm or$used instamw Ofn0n(TrpI1ar1llth la1 and regulalionsand fraud. ReadinK rneEtinK minutE5 and wnlTacts" and. e&singfinancial StatementdthS aThl iesting tosUptIgd0MentaIlO. for cornplianee ilith appIable laiisaDd resulations. There are inherent liniitstK)ns in the audit prOdureS dribed at. We are le55 likeb" lo becomeaiiareof InSlan of non-cornplian iiith13%is and re8ulations that are llo¢ ¢1[- laled lo and trdtlsactio£ reflecied in the finaneial stalemenls. A]so. the r. of detecting a malerial mi85tatement due lo fraud is higherthan the risk (Inot derertingone resuliing from error. as fralld rna)- inidiEdeliiErale LXb¥KYdltnent bi., for example. forgery. or intenlional niisrepresentstioLs, orthr collus. A further deseripiw)n of our reswnsibilities for the audit of the financial stalennIS is ID(Stal on the FRC'S iyebsite aL iii%ii'.Ire.or&uklauditorsreswnsibilities.This de5CriPtK>n forms part of radIt0.rert. Use of this report This rep)rt including theopinio ha5 been prepared forand onl>. for thedrit) $ Irustee as a b(NJ} in alr0rdan i%ilh seerion 144 of Ihe Charities Acl 2011 and re8ulation5 made undersectim 154 of iht Acl (Part 4 of TheCharitie5 (Accounts and Rew)rts) Regulations 20081 and for noother purtKEe. We do in giiingthese opinK)ns. accept or assume re5wn5ibilit)' foran). other purwseorto anj. other tOM4w this isshLMIL or into Mhose honds it ma>. come saiE Il'hereexprelj, a8reed bj our prior coThsenl in ii'riiing.
REUTERS CENTENNAY FUND Other required reporting Charities Act 2011 exceptlon rep)rting UjerIhe Charities Act 2011 IIE are reqUId to rewrt lo }vJ if. in ouropinK)n: hail receiiEd all ihe infonnalion and e¥plan81$ requite forour8udit' or suff1ent attountin8 recorth haie noi been Lept b)" thecharit)". or the financial statements are in agreenl hith ihe a(tounIingreKd& We hait no exeepiions io rep)rt arising from this respsibilIt).. Prini'aterhouseCoor*rs LLP Chartered Accountants and SlaluloryAlldilors ndon 30 September 2025
REUTERS CENTENARY FUND ATEMENT OF FINANCIAL ACMVITIES FOR THE YEAR ENDED 1 DECEMBER 2024 UI<ESTRICTED FUNDS UNRESTRICTED FUNDS 2024 2023 knGomo from: Oonations Investments Olher kncome 27.904 104.587 6.779 28,910 89.108 1.539 T¢)tal kncom• 139271 119.557 Exp•ndliur• on: Charltabl8 actiMties IB6.2391 (143,81 Sl Totsl •xp•ndllur• 66239 Net galn on inveslments 93.075 74.122 N•t In¢orn• 106,107 49,864 N•t movomwrts In funds forth• y 166,107 49,864 Total ful$ iought forw¥d 2.611.225 2,561.361 T¢)lal fund• ¢affhd forwa 2.777.332 2,611,225 There is no material drflerenee between the Frfrt on ordinary acbvibes before taxalon aThJ the net incomg fr)r the ffinandal year staled above aTrJ thdr hi8tori¢al cost equivalents. I galns aj h)sso5 rgc4nl8ed the year are iKhJded in Slatement of FinantAal Activities. All activities e ongoww. The notes on pages 11 to 15 fomi part ofthe financial Statern.
REUTERS CENTENARY FUND 8ALAN HEET AS AT 31 DECEMBER 2024 2024 2023 Fixed Asset Investments Total fixed assets 2.564,412 2.564.412 2.471.337 2,471,337 Cash at bank and in hand Total current assets 212.920 212.920 139,888 Creditors". Amounts falliThJ duè thin one year Nel current assets 212.920 139,888 2.777.332 2.611.225 N8t assets 2.777.332 2.611.225 The funds of tho cha unrestri Income funds 2.7TI.332 2.611.225 Total Charfty funds 2.777.332 2.611,225 The notes on pages 11 to 15 I(1 part ofthese statwnwits. The financlal statements on pages 9t0 15 were apkyoved by Ihe Trusie8 on 30 SeFknber 2025 and slgned on Its behaff by.. 447E61•517E44 R Baum Director 10
REUTERS CENTENARY FUND NOTES TO THE FINANCIAL STATEMENTS ACC(ntin Icies Ba%s of accc4Jnting The ffinancial statements have been prepared in acc(¥d wlh the AczOurrtg and ReF(Jrting by Charities.. Statgment of Rfj¢oThwn¢Jod Practi¢e applib to Charilie5 kryjaring their account5 in aCrdance 7Mth the Fnancial Reportry Standard applicable in the UK and RepLi)lic of Ireland (FRS 102) - ICh8riles SORP IFRS 102)). the Fin8Thial Repxtrtiw Standard appticable in the UK and Republlc of keland (FRS 102) the Chwities Acl 2011. The financ4al statements have been prepar&J to gr40 a True wd tsif vlth¥ and have departed from the Charities {Ac¢Cnts and ReF#tsl ReI8n5 2[ cmly to ts exiert required to provhje a 'tnJe and lair view". This departure has invofved following Accountin9 and R8POrting by Ch8ritigs preparing their financial statements Wi a¢x(Kdance Yrith Ihg 18ts81 FInCIal Reporting Standard appficable in the UK and Republic of Ir91d {FRS 1021 rather than the Financial RepL¥luig Standard appli¢ablè at the tunè the Charities (Acents and Re[s) RegtI5 2008 C Into effect lrtvostment incThne and expendtture Dividen(ts are a¢¢ounted for Wh Iel¥able. Cmhw irterest incrxne and eXdIlure we accounted for Tri an a¢crual$ basis. Grts Payable The grants are recognlsed as Ila)Ile$ the perltra when the cijligation arises. is quantifiable and there are no further ierns and conthtions to be fuffilled pre wlhin the control of Ihe Foundati. Gains or losses On investments Investment galns or losses durfng the yew •e recorded n the staternenl offinancial actMtig5. Unmliwl goin5 or lo&ryeB arp &8 the in(Tease or decrease in value, be¢&n the balance sheat datss. cl tlb)se ry)veslments still hekl at the yearnd. Reallsed gains ?d lossès are defined as the excess deficit of the $ak tCeedS over the waallOn at the pre¥k$ baknce sheet date ol th05e invostsnents di¥4)sed of during the yew. (li> Valuation c4 invesbnents Reuters Cenlenwy Fund hokls no other fixed a$sets ¢Xher than tts of UK Inv¥strnents. Investments are w8(1 the bas of the rnaet cc¥Nention there they are Primarily traded which is either last traded or mmldlg mwket fv$. Whore representalive prices are unavailable. investments are valued on the most apprcyiale basls kn the of S¢hrod8r & Co. Umhed. GIfts4n-nd Donated services aNJ fadlitles are valued and wKkKled as irwxme eypenditwe al the price tho Charity estwnates it would pay in Ihe (wi markat kjr 8ryiva sor¥& crf f8dllty. Cash Flow Slatgment Reuters Centenary Fund has takan advantage of exemption for gmdlw charitieg from th¢ rèquirement of prclu¢ing cash fkw Statnt deffied by FRS 102 as hKome Is $5 than £51K. Ovathaad a1 support costs have been allcKated between Ch&Itab actsvit$ (grant giving apwintmwt and wi kj salarlesl based oft slaff time and pvernCe. The althrytion is analysed in note 5. 11
REUTERS CENTENARY FUNO NOTES TO THE FINMCIAL STATEMENTS ounlin Polhx$ COntind Resources Expended Èxpendituro on Charitable acti11•5 )jnlS8$ Iho80 costs inomrad by th8 Charity ui the delivery of tts aGtNlties and servtces for Its benefKiarw. Tlw costs tsKknle Costs related to the Statut audit and legal lees, I(ether wilh 5UPPOrt costs. Management costs are not disckthd separatety on the Statement of Fnanc4al Adivities. a¥ these are luded In the priclng of the lund. It includos bolh ltr•t can b8 alhxatyd to sh and th088 t$ of an indirect nature necessary to support them. Foreign Exch9? Entries ar¥ postfjd at the rate In Ihe tfawackn date. pK¢nlS are posted at the excharoe rate in lo on 31 Oecwnber 2024. Taxaknon Reuters Centenary Fund is a registered dwty and. ac¢tydingty, 1$ not liable to lax on its Gharitable inwne or any reallsed charye&)1g gains l1gn for chIta) pww)ses. Going Concern The Trustee hava concJded that Reulas centen contwiue as a gcing eoncem. as the level of grant-makkng is at the dls¢rel(m of lh6 Trustee and Is based Ihe fftjnds available while opgraling costs are mininwl aNJ 8re pr¢dominartty pro bowjo. Signfficant estimates Managem1 Is required to me e51imales assurryjticw thal affect the repNted amounts of a$5ets. liabil¢$, inwne and exFWSeS. These estnate$ and assumptil$ are basgd Iwslorical informatKn and other which mwm8nt rSider reasonable. The aCcjnts affe¢tsd by this is revenue renItiOn. Gllts kn kknd IGKI gre re¢wed ba¥ed on vabJatKTh pwoNided by dcmors managem8nl's judgement on whether the Charity woukl pay tho aquival8nt omount in the L¥Jen market for an atternalive that wouhj provide a benefft to Ihe Chwity equivabent to the donated facwties, goods aNJ seryi 2024 2023 Jdil Fee Employee c)st of Ilme: Flnance Socretadat Totsl Grfts in Klnd 18.0 18.C 1.146 8,758 2.230 28.910 The audit ol the Charws financial slatements Yds provided by Pricewalerhousocoopars LLP. These seNKès are pa•J fcf ty Thcrfn50n Reuters Group as o Gfft in Kd. Employees from Ihe FThn¢e and SecTthi* we wovxled free of charg8 by Thomson Rgulers Group. No valuallon * made to recwk8e oTre space as this 1$ not considèred lo bg material. 12
REUTERS CENTENARY FUND NOTES TO THE FINANCINL STATEMENTS cffltinugd Investm8nts 2024 2023 DbvKlends'. RMAF 104.587 104.587 89.108 B9.108 Other Inc¢yne 224 2023 Inleresl income 6.TT9 6.779 1.539 1,539 Charitable Activitses During 2024. thirleen grants wve made to Ihirteen Wl¥IdUaL8 (2073". seventw ants to $eventggn individuals). The total value olthese grants wnounted to £38.17212023.. £114.5891. fundad Sw Sclivty Totsl 21r24 2024 Grant Givirwj 38.172 28.067 66.239 38.172 28,17 66.239 fad Supwt atbvty 2023 2023 Grant Gmng 114,589 29226 143,815 114.589 29.226 143,815 Su ort costs The Charity does employ any $laff12023: nill. Thomson Reuters l>oup bears certain expenses including the services of staff to the vahje crf £9.90412023.' £10.9101 free of charge. The employee servKes provided are listed in note 2. 13
REUTERS CENTENARY FUND NOTES TO THE FINANCIAL STATEMENTS 2024 2023 Bank charges 163 316 Finance Salwies Audit feè Secrgtsriot Salorns 1.146 18.0fy) 8.758 28.067 2.230 18,Cth Total statnent ofTwstee's romunwali The Twstee did not receive any remuneraticffl for Servi durfry thg year 12023: £nll). No reimbursement ol expenses vras made to the Trustee (20ZJ: Qwl). As at 31 December 224, the ptt010 was invested as 1C(J%12023". RMAF) Responsfiblg Mulll-Assel Fund (RWI. The RMAF Is a kwy-lerm investrnent fund with a dNersrfied strategy investing in equit$. b)nds. propgty and oNem¥live a58ets. It operate5 lthin defined asset allocath)n parameters. At present the Fund alocation i8 as k4lows: 2024 Tactkal R•nge R•sponslbl• MulU4•Mt Fund Global Ewlll88 BoNI$ MuKi-A$8et Fund temalves (qh) 74.4 74 10.5 12 12.3 2023 Thctlcal R•hge (Va) 69.1 11.7 sht4Yc Asmt R•sponslbh MultIzet FurMI Global Equlli8s Bonds Muf(i-Agsel Fmds 12 14 14.8 4.5 C83h 14
REUTERS CENTENARY FUND NOTES T THEF NANCIAL STATEMENTS stmwts ¢tinUed Thé valuation of inv6stments hehj in the UK al 31 December ciMnp¥ise.' 2024 2023 INVESTMENTS Markel value at thse d preNmM year Additions Net Investment gail Market * ¢k)¥e of current year 1471.337 2,097.215 300.000 74.122 2471.337 93.075 Inveslmonls at market vaue c(ryTed. RMAF 2.564.412 2.564.412 2.471.337 2.471.337 Management costs of £6.21812023: £6.3191 are IKted In gain nvestmont assets and arg not disclosed Separately on the Statement crf FwwKaal ktwrtses as these are Iudj in th• pran9 of th• fund. Reuters Cwtenary fuNJ h*1 knvesled knto CMAF (managed by Cazenove cwall C 24 May 2011. th a bk £1.450,953. Fc41owed by lththw investment of £11>J,000 14 Octthr 2011 and a further purchase of £50.OLNJ on 28 Septsmber 2012. I9r011 inv8slmwrt mode In cazen0 capital by Reute Centenary FLmd antIng to £1.6.953. Durlng the year 2020. 100% iweslment in the Chty MuttpAsset FuThJ (CMAF) was switched lo Responsible Muttl-A5set FuTrxl (a slster fund lmllY focussed eff¢81 Inveslment} IRMAF). During the year 2023. Reuters Centenary fund made an addtixffjal investrnenl of £300,000 to the furKI. 31 Gakn on 0ember 2024 UnrestriGted 2.611.224 139271 2.611.224 139.271 6.239 66.239 93.075 2.777 332 93.075 2.777,332 31 Gain tknmber Unrestrictod 2 561360 119 557 143 814 Total 2.561.360 119.557 143.814 74 122 2611225 74.122 2.611225 10. Related Pa Thomson Reuters Group provides sionifThnt SpOrt to the Fund and 811 Ihg TrLLglee arg current or fomer employee$ of the Reuters arKI Th<ynson Reut¢r5 Group. JI transa¢ticrf)$ Vlilh Thomsom Reuters Group during the yew and the ount due to il by the Furnj 8 disdosed in ncrte$ 2. 5 and 8. 15