TheTriangleTrust 1949 Fund REPORT AND FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2025 Registered Charity Number: 222860
TheTriavJleTrust CONTENTS Page Trustees. report Independent audilorfs report 14-16 Statement of finana81 activities 17 Balance sheet 18 Statement of cash flows 19 Notes to the accounts 20-33
TheTriangknTnt TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 Thg Trustees present theSr report 8nd financlal statements for the year gndgd 31 Marc*b 2025. Thg financial statements have been prepared in accord8ncg with the aceounling pollcies set out in note 1 to the financlal statements and comply with the charity's trust de8d, the Charities Act 2011 and °Accounling and Reports'ng by Chartties,, Ststsment of Recommended Practice applicable lo charities preparing their financial $tolem8nls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). las amended for accounting period8 commencing from 1 January 2019). Objectl¥es and aetivrtiès for the public benefit The Tri8ngle Trust 1949 Fund is a grant giwng tharftable trust that was set up by Slr Harry Jephcott In 1949, when he was rnanaging director of Glaxo Laboratories Limited. The objects of the Trust as set out in the Trust Deod are to support.. The education and 811gviabon from poverty of past or pre88nl employees of the phamaceutlcal industy, and their dependents,, The promotion of a gocd slondard of health in the communmy. inclLKling recreational fadlltles and medlcal welfare., Such charitsble activities as the Trustse8 may detemiirte. The Trustees havg adopted a policy of selecting third party organisations lo which they make most of their grants under thè wider charitable object of the Trust. Small grants are also made to indimduals who have r81ired from the ph8rniaceulical industy. I the Triangle Twsl 1949 Fund's grant giving aclivili8s focus on supporting organi$atHJns hglping Ihosg who arg disadvantaged or in n8gd of speGific help and as such deliver public bengfit. The Trustees nfIrM that they have ref8rrgd to Ihe Charity Commission's guidance on public benefit when developing the current misslon, vlslon. 8nd oblèdves for the TnJ8t covering the perlod April 2024 to March 2025.. V181on.' For evary person In th8 UK to have the opportunlty to aGhievg their potential and participate in and contrlbule to all aspects of life. Mlsslon." To fund community and voluntsry organisalions provldlng laroeted hIghUalitY support to those in need and delivering long-tem) impact. ObJeGtlves: 1. To support organisalions working with young peop16 in contact wlth the crimlnal lustice system, or at high risk of becoming so, lo enablo Ihgm to move on positively wilh their lives and either avoid reoffending or receivlng a first conviction. 2. To have a slraighttorward transparent approach lo gr8nt glvlng, maklng it easy for applicants lo apply. 3. To monitor and evaluate to keep our grants relevant. 4. To apply gcrf)d govemance to all th81 we do. Overview This has been a busy and excibng year as we entered the second year of our five-year strategy. After detalled dlscussions Trustees agreed lo focus our assets on supporting work solely around young women and girfs who are either already involved in the crfmlnal Justice systsm or on the edge of rt. This decislon was reached after Trustees considgred the gaps in the sgdor for work wtlh young women and glrls Ib8S8d on our own experience of r8ceSvino limited numbers of appli(slions focused solely on females and sector research) and agreement on where we could add most value with our limi18d assets. This is in line with Trustee's decision In 202310 have an annual focus for fundlng. Funding continued lo be divided been project and strategic grants. wllh a slrateglc grant being awarded to Agenda Alliance towards their work with glrfs whg are excluded from ucatIOn and Prison Reform Trust for their work focused on allematlve 8enlenc8s for womgn other than prison. We 81so began lo work wlth Upshot as part of our Monitoring, Evaluation and Leamlng strategy to provide a plarform for grantees to report progress towards their project outcomes on as well as providing them with tools to support their own approach lo understsnding and evidencing th8 dlfference that their work is making. This also
TheTriangleThwst TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 contributes to the Trusvs abllty to better understsnd the difference Ihat we are contributing to as a lunder. We continued running th8 Spark Programm8 With Cranfi'eld Trust, providing grantees with opportunities lo neOrk, learn from each olhgr and benefit from free consullanGy and mentoring support. Grant making policy In line with Objective 1 above, in April 2023, the Trust launched a new five-year slralggy focused on supporting work aimed al young pgople in ojntact with the criminal justic8 system or those who are highly vulnerable lo becoming so. In 2023 Truste8s agr8ed that the focus of the funding would be tri support prolecls that used a Sport 4 Development approach, ¥Mlh the focus for 2024 being young women and girls. The fheory of Change that was devoloped for this strategy is shown below and runs from 2023-2028. Activity Outcome youiirJ ponplo rllQ reduco ' WjlJcd Due to the focu3 of the strategy being on young women and girls. Trustee5 agreed that the annual income threshold lor applicants that had been in place, and had been £1.5m. should be removed. This was in recognition of the fact that there are a limited number of players delivering work with young wom8n and girls and sorne of those organisations who would be likely lo apply eXeded that limit. We a150 revi8W8d our approach lo the type of organisation8 that would be eligible to apply. After the publication of ROSA'S research report, Alapping the UK Women and Girts Se¢tor and Its Funding." Where Does the Money Go?. Trustees wer8 ¢oncemed by the findings that highlighted that the women and girls sector is not getting the investment11 needs or deserves. The research rev8al8d that the women and girts sector in the UK is in urgent need of investment and support, with the women and girls sector recelving just 1.8 10 of the £4.1 billion worth of grants awarded to charities in 2021. The additional finding, that one third of all grants for omen and girls, focused activity (worth £24.7ml went lo organis8b.ons with no specific focus on women and girts, led Trustees lo decid8 that funding organisations lad 'by and for womgn ond girls, would b8 a key part of the strategy for the year. Thè first funding round solely funded organisath'ons led by and for women and girfs and the Send round relaxed
TheTrknngknTrust I19 kuiiLI TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 this criteria slightly. in recognition of the faGt that some organisalion$ led by women do work with small numbers of moles. Therefore, the cdleria was amended to allow organisations, for who al least 800A of their total beneficiaries were women and girls. to apply. In recognition of the fact that young women and girfs have a number of unique challenges we adjusted the age range of the fvnding opportunity lo 11-30 to reflect the fact that projects working wilh young women tend to support them for longer. Funding was availablo to both support youThJ women and girls who were already fomially in contact with the criminal justic8 system and those who were on the edge of it, and highly vulnerable to entering. We w6r8 partfjwlady keen lo receive applications from organisalions working wth car8 experienced young women and girfs and those from 81ack and minoritizedlracialized communities. The maximum grant amount available through our open programmes remained al £80,000 over a maximum of 24 months, and all of the grants awarded were for requests for the full Iwo-year pencil. With an annual budget of up to £1,000,000 available, £800.000 was allocated lo work wth young women and gids through our op8n application process. arvj £200,IJOO allwaled to support slralegiG work, aimed at $yslemic change. Due to the size of grants available and because applicants do not have to be a rtgislertd charity, the 8djudicalion process for applications includes a forynal Trustee review. Here. all 8pplicab.ons meeting the quality threshold are individually scored by three Trustees lo iderilify which are to be discussed in full al the Trustse meeting. Applicants shortlisled by Trustees are visited and further assessed by the Director before Trustees make the decision on which applications to fund. Visits were undèrtaken either vi2 Zoom or in person. Non-charily applicants are required tr) demonstrate their income is used for charitable purposes and lo also have a stal8menl within their articles clearly ststing any profits are either investeil back into the organisalion or passed to a named registered arity. All applicants are required lo have an extemal examiner or auditor report for their annual accounts. We reekived 102 applications for funding143 in round one and 59 in round Iwo} and eleven org8nisalions were award8d grants after the ossessment process with funding totsling £766.046. Examples of fvKJ of th8 grants awarded during Ihg year are below. Anawlm Anawim Anawim- Bimingham's Centre for Women offers gender and Irauma-responsive wraparound support for any woman in need. We SUPF)Ort more than 2.000 women in Birmingham every year through free therapeutic ct)unselling. crisis Sntervenlion, holistic and Intenslve long-lerm spedalisl support and other prdctical resources. both in the community and in prison. A grant of £80,000 wll be used to transfomi the lives and lrfe chances of vulnerable young women aged 18-24 who are al risk or have been Involved in th6 crimlnal justice system and have a history of offending, through trouma-informed, age and g8nder sensitive and cutturally responslvg Interventlons IholistiG casework, Venus programme, counsellingl, leading to effective rehabilitation and reduced re-offending.
TheTrlwlelhst TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Wo SAY Women is a charty in Glasgow whlch dl¢ale$ ils service to supporting young women aged 16 to 25 who are survivors of sexual abuse, rape or s8xual assault and who are homeless or at risk of homelessness. They provide safe semi-supported accommodation, crisis intervention and emotional support. The Community JustlGe Project supports young women as they navigate the criminal jusllce system during their most VLtlnerable lime, offering support with reporting, court hearSngs and all legal liaisons when they need the guidance the most lo fully understsnd the legal procedure. Having extra support in place allows the yourrfa women to better cope with trauma and thange their belief in the lustic8 System as victims. The project also works a8 an InterVenOn service for young women who have Gome into conflict with the criminal justice system Ih8mselves. as a res(Jll of trauma, to meko better positive life choices and support better coping me¢hanisms. The aim is to support young wcmnen and give them back their power to break the cycle of trauma and criminality and become a positive and successful individual. Aongside other resources available, the Comm4Jnity Justice Project form8 part of a wrap-alound service, to ensure all support Is available for y¢yJng Wcsmen to develop the necessary well-being lo progress towards positive outcomes. A grant of £77.413 was awarde(I lo Say Womgn. Slrateglc Grants Alongside our open grants we also continued lo make strategic grants. Strategic grants are awarded lo organisalions that we want to support because they are doing work that has the potential to achleve some kind of Systematic change that aligns with our strategy aims. Thls funding is by invllation only and supports work that would not bo considored under our open grants programme, which has 8 nre front line and l¢xal focus. ENDA alllan AGENDA alliance Agenda Alliartce exists lo make a difference to Ihe lives of girts and women who are al the sharpest end ofinequalily. They advocate for those who have multiple, complex needs that are not boing mel by public services, and sometimes by voluntary sector organisats'ons. Together with over 120 Aliance members. and girfs arKJ women with lived experignce, they campaign for systems and services which respond appropriately to unmel needs, to end cydgs of trauma and hami. Bullding on work warding girl's mental health and young women's 8xperiences of Ihe minal justice system. Agenda's existing research shows that girfs who are excluded from education often face considerabl8 dlsadvanlage. Many are struggling wlth poor mental health, abuse, pov8ty and dlscriminatlon, challenges which overlap and reinforce each other. and ar8 compounded by gender in8quality and Fa¢i$m. Once 8xcluded from education, girls go on lo face further disadv8ntag8 and increased risks of exploitstlon and crimin811sats'on.
TheTrlangl•TTht 1949 Wiiiol TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 Agenda Alllance wll further this work by tyjilding a Strong coalition of volces on exdusions, absenteeism and suspensions - including speclalist organisations and girfs and young women with lived experien - lo creats a compelling shared wslon and c8mpal9n for better gendor, trauma, and culturally responsive support for girls al rlsk of exclusion. Prison Ref PRISON REFORM TRUST There are currently around 3,500 women living in prisons in England and Wales. Many women in prison have been wdims of more serfous offencos than those they are accused of Gommitting. 53% of women In prison report exp8ri8nclng emollonal, physlcal or sexual abuse a8 a child. AInst 60¥0 of women who offend hav$ exwrienced domestic abysg. The Prf8on Reform Trust is looking al the b8rriers and challenges Involved in significanuy reducing the women's prlson population. 11 is working CollaboraVelY ¥th key stskeholders. induding data gathering with practitson8rs, women with lived experience in fhe community and in prlson, and using case study material to highlight good Practi in order lo sugggst a blueprint for thangg. The Prison Reform Tw$1 is seging what has worked using a collaiK)ratlve cross-sector approach to investigate what Ss needed lo increase confidence in aY(emativeB to Custody, such as r8ferrals to women's centres. This Inciudes revi8wing various slag8s of the Minal ju8llce process lo complete 8 needs assessment and to identify barriers lo both. ground-levol and syslernatiG thange so that solutions can be considered. Th8 overarching aims of the programme will impaGt young women in prison, particulady those on remand and those serving short SentenS. The Tdangle Trust awarded th8 Prl8on Refomi Trust £21,150 tOW8rds this 18-month project which is being funded in partnarship with Esmeg Falrbaim and Th8 Jabb8 Foundallon for Women and Glrfs. We also continued with our strategic grant fundlng for Cranfleld Trust and Klnshlp. Cranfleld Trust Cranfield TRUST This funding links into our wider strategy aims of supporting neiworking opportunities for grantees, supporknng eapacily building and sharing leaming of what works. The initiative has Iwo maln elements. 1. Consultancy and mentoring support for all new grantees Ilnked lo a speafic project identified by the grantee or a key m8mber of staff who would benefit from professional development. 2. Peef2Peer Exchanoe8 which are 90-minule fadlltsted sessions involwng a represenlativg from each funded organisation. These seson8 prowde an opportunlty for grantees to come together with other practitioners worf<ing
TheTrlanglelhtst TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 in thè same field and w(¥k Ihelr way Ihrough challenges and shad issues. The sessions lake an action leaming approach enabllng participants to find Solutions lo problems through discus5iThi and thinking with their peers. The Spark Programme links to our strategic aim of increasing nefvlorking opportunS1ies belw98n grdntees. Peer2Peer Exchang06 - Onè leader described their experience ofthe Peerf2Pe8r Exthanges as follows.. "On reflectlon. I definitely fe81 that I gained a lot. I hawo galned some new profeSSIDnal connectlons, wlth poople whose values 8llgn closgty with my own. l goe to prnGlice • tool that I had hJd very Ilmited ¢ont•¢t wlth bgftir8 {Actlon Learnlng Sets) that l am looking to brlng Into my own wo. I w88 strongly romlndod of the importance of cre•tlng spo¢• lor havlng these sorts of conversatlons and r••lly lolt the posftlve ImpaGt olstartln9 a day thls way. l also enloy8dbulldlnq & posllfve qroup dynamlc thrnuph the Pro$$., Consultancy support- Grant holders Gan also access Intensive 1..1 Supp¢ In the fomi of Gonsullancy arKI mentoring. Through consultancy, gr8nt8es work through the 'Joumey lo Excellenc8' dlagnoslic and impact assessment framework with a Cranfield Trust Regional Manager. identifying their key prioritigs. The Regional Manager uses their exp8rienc8 and knedge to identlfy a voluntr with the right skills and experience to support th8 charity and project. The charity then works with a vduntger consultsnl lo address their strategic challenges and development areas. Anawim requested support with strengthening Ihelr exlsling fundraising Slratsgy. On completion of the project. Anna Makanjuola, Anawim's Head of Developmgnl commented that the project would help their corporate fundraising go from strength lo strength and if successful, would enable them to support more women In thg future. "Adam Icranfield Trust reglonal managerl added huge value to this procèss. he explalned how It would all work and was veryp8tlent with us in gathering our ngods and carrying out our assessment. He also matched u8 wlth a volunteer and closely monltored orprogrnss and off8red addltlonalsupport." stepping Stones is receiving consultancy support to dev81op a new morkeling and communlcalions strategy. CEO Charlie Lockley commented, "As o new SL T, w8 laGked m&rkoting and fundrnlslng exporlence, ond Slmon [volunt8or consultantj's help andsupport wlth that has been a godsend. He Is provldlng dlrecdon and guldancg whlch 18 holplng us work towards more sustainablo Incom• generntlon and flMncl•l soGurlty golng forw•rd, whll¥t hdping us to le•m •nd d•v•lop n•w8kllls as •n oryanlsatlon." Abianda recently completed a mark81in9 and CommunicaonS pL4n to support their training and consultsncy offers. Founder and CEO, Abi Billinghursl. commented.. "Tho work wlth Rob Ivolunteor con8ultantJ In golng rnally wo11. H8 has been advlslng us on how to brlng together a markotlng and comms plan Ih•t supports the promotlon of, and scallng up of, our tr•lnlng progrnrnm- èj w• had hoped. Th• MoTr omms Plan and Jssocl•ted •ctlon plan. •r• nrtY Gompl•t• and we wlll ba In 8 brllllant poslelon to push fonvard our MarThComms efforts wlth clarlty and common 9oal across Ablanda. Rob has been brllllont at understandlng our culture, our neods and challengos and at Gr•&tlng clarlty for us. Wo he d•llnltely movgd from on• polnt to another wfth hlm. He s also a thomughly nic8 person, so that h8lpsl" Abi pOrtS a range of benefi15 for Abianda and Rs beneficiaries through this work.. hlghly effectSve pract*ce In regard lo strategy and l&adership.' darity. collabor8Jon and culture across the organisation,. and upskllllng 18am membgrs who are new to lea¢Yership and benefit from learnlng from extemal expert. Mentorlng - Through mentoring, charity leaders fwus on Ihelr own devglopmenl and prath'ce as leaders. They are matched with a skilled volunteer mentor, who tskes the time to listen and understand tho outcomes they want lo achieve. Abianda have also gone on lo start three new mentoring projects supporting senior team members, working with Cranfield Tmsl volunteers, which is anothèr positive development arising from the Snlllal strategic support on the Spark programme. Ten new grantées received intensive 1..1 support during the year alongside the Peer2P8er Exchange$ which all grantees are required to attend.
Th9TrknghTnt 194c)luiid TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Kinshl inshlp Kinship 18 the leading kinship care tharily and main provider of kn'nship care support in England and Wales. UnSquely, they use their extensive, on-the-ground experience and ConneconS ¥Mth kinship care families to influence pollcy ar change practice. Their mission is lo ensure that kinship carers and th8 children they car8 for get the support and recognlllon they need. A £90,000 three-year grant was awarded lo Kinship in 2023 to support them to further build on the recommendations from the Independent Review of Children's Social Care published in May 2022. The grant wlll contrfbule to the Salaries of two key staff members, the Head of Policy and Public Affairs and a Medi8 and Communications Manager. The Head of Pollcy and Public Affairs leads on Kinship's twice-yearfy surveys of kinship car8rs and is responsible for promoting the results and making recornmend81ions to k8y stskehold8rs, using this data lo hglp sgcurg significant changes to policy and legislation. The Media and Communications Manager focuses on securing hlgh impact media cov6rage that will place public attention on kinship care within the children's soaal care system. This funding will help Kinship lo amplrfy kinship carers, experfences, expertis8 and aspirdtions for change using real life'case studies, alongside suNey findings lo develop newsworthy and hard-hitting stories. This grant follows our one-year grant awarded in 2022 that contributed to work in three key areas,. the salary of a Policy and Public Aff8irs Manager. media engagem8nl to secure high impact medla Vorage that places public attention on kSnshlp care famllles in the thlldren's srKial Lxre system, and a Parfiamenlary monitorir system. Grants to Indfvldual¥ The Trust continues to pay grants lo indiwduals under the firsl object of the Trust Deed.- 'The education and alleviation from poverty of past or present 8mpioyees of the pharmaceutical industry, and their dependents" Many of the recipients are in their nineties and engage in regular correspondence telling us how their annual grant brHJhlens their lives. In 2012, Trustees deaded all rrent individuals reIving annual grants will continue to do so, howevor no additional individual grant recipients will be sought. This continue5 to be Ihe strategy we follow. During the year, slx IndIdalS received grants lotaling £7,000. Achievements and monltorlng Progres8 agalnst the four key ObJ8ctlves detalled on pagè 1 are monhored vla a system of key perfomiance Indlcators. Achlevomonts durlng the year agalnst th¢s9 objectives are summarised below: 1) To Support oryanlsatlon¥ working with young people In contact wlth thg criminal justice system, or at high risk of becoming so, to enable them to mov• on positively with their Ilves and elther avold reoffondlng or reGeiving a f5rst Gonvlctlon.. During th8 year we paid grants totaling £792.623 and con¢Jitionally 8gre8d fifteen new grants, lotsllng £842,134 over 24 rnonths, focused on supporting work with young pgople in or around the criminal justice syslom. Additionally, we made slrateglc grants as detsiled above. We also distribute(I funds of £292,409 to existing young carer grantees. 21 To have a 8tralghtfop•vard tran8parent approach to grant glvlngi maklng It easy for appllcants to apply: General feedback from applicants has been very positive regarding the application process and the Informatlon provided 10 8UPPOrt the process. We hav8 also signed up to Grant Adviser and encourage 811 applicants to18avo a review about our application process. This is regularly reviewgd lo ensure that any issu88 with making an application ar8 understood and addressed where possible. Our scores on this are gxtremety Positive. Our website continue5 to recelve posilive feedback about the overall user experience for
TheTriaigleTnL8t TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 potential applicants who Say that the information on there is dear and well laid out. The eligibilty quiz is 8ti11 an effective method lo ensure that applications we receive fil the criteria and are submitted by ellgible organisatlons. This has helped to reduce the number of applic8tions we recelve that are not wtthin our criteria. saving lime for the staff team. but also preventing appllcants from spending time on proposals with no chance of success. 3) To monitor and evaluat• to keep our grants relevant- In 2024 we celebrated our 75 anniversary, and as Wo look back on what has been achieved during that time. understsnding impact continues to be extremely important. We have awarded over £9m in funding since 2013 on Devebpment Grants. emergency Cowd grants. our young people focused programmes that sUPPOrted young earers and young offenders, two rounds of Sport 4 Development grants and our first two rounds fundlng work with young women and girls. We have built up a good bank of reports showing the differen our funding has made and some strong ca88 8tudie5 demonstrating the outcomes to whlth we have contributed. As we nN)ve forward. understanding our ntributIon to this impact more becomes ever important. Part of our Theory of Change talks about sharing l&aming of what works- this relies on us having b&tt8r evidence and understanding of what suwess looks like. We aim lo be able lo speak lo other funders and stakeholders about the type of work that we are supporting and the kind of difference it 1$ rnaking lo thè Ilve8 of the young pèopl8 benefiting from our grants. To this end we are proud memt*rs of the Corslon Independent Funders Coalthon, bringing together other funders with an interest in women and the crimlnal justice system. We 81so held special event at the House of L¢xds lo ix)th celebrate the 75th annSversary and shlne B light on the issue of women and the criminal justice syslom. It was attended by over 100 guests ranging from grantees. sector 8XP8rts, partners and other stskeholders. And P8er2Peer Exchanges that forni part of the Spark Programme, provide 8 unique opportunity for our grantees lo come together to Share their exp8rUs8, dev6lop networks build on their leaming about what works. We conts'nue lo ask grantees lo report back to us every six mnths. completing a refleth've 6-monlh progress update and then a longer annual Teport al the end of each year. We ask grantees lo identify key tsrgels for each year of the grant based on a set of soc181 impact areas that we have identified. These were developed with advice from InFocus and AGENDA alliance. h8lping us lo identify conslslenl factors thal Gontribule to changes around offending behaviours. We hope that this will enable tsrgets to slay relevant and help us to build up a clearer piduro of progress. F¢)mial fggdba¢k is prowded to grantees after they submrt their annual In 2024 we started working Upshot lo enhance our approach to Monitoring. Evaluation and Leaming. We provided all grantees with 8 license to use UpshoV8 MEL platfom to both record Ihgir dats and lo more easily provide us wth updates on progress. As part of our commitment to supporting the wider organisali¢)n, we have also proviijed grantees with the option of uslng Upshot to capture data for all IheSr work. not lust Trfangle Tru81 funded work. We hope that Ihls will provide grantees who have limited capacity wllh regard510 their MEL apabilities, with thg OPPOrtunily to understand their Work in a deeper way and begin to evidence the impact they are mang. 23 of our current grantees have begun to use Upshot {4 organisations already use a dlfferonl system 8nd download their data onlo Upshot annually). Of these 1.153 Indiwduals. infomiation has been registered onto their accounts and of these 879 unique individuals have particlpated in s88slons held by grantees. 2,055 sessions have been logged onto Upshot accounts accounting for 3,765 session hours and 37,693 contact hours with participants. Grantee8 have also logged 150 headcount sessions Iwh8re individual attendees are not logged) accounting for another 3.171 contact hours of project dellvery. We look forward lo hearing from grantees how these contsct hours conlrlbute to the soc581 impact argas Ihgy are reporting against. This all links lo our Monitoring, Evaluation and Learning strategy that Trustees agreed in March 2024. 4) To apply good governance to all that we do: In addition lo the regular cycle of r8viewSng Trfangle Trust policies, Trustees have continued to Yisil current grantees during the year lo improve their knowledg8 of our largel sectors. These meetings havg taken plaG8 both in person and via Zoom and provlde a valuable way for Trustees lo understsnd more aboul tho work we ore funding, the outcome5 and Impact W8 are contributing lo and increases their knowledge about the issues we 5UPPOrt. They have b88n impressed by the great work Ihey have seen taking place and the passionate and committed staff they have mel, Trustees produce a report after eath visit that is shared wrth Trustees al the next Trustee meetlng and Interestsng polnls are dlscu88ed.
1949 FLllI(I TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Tnjstees continue to use the private area on our website lo access documents and review papers, usgful information, and resources. This has cul down 8lgnificantly on the number of emails and paper copies of documents and ensured that Trustees havè easy access to important documentation to support their roles. Our Investment Committee was established in 2022 and continues lo meet four Ilmes a year to ensure Ihat our financial proGg$ses and forgcasling are robust, 8UPPDrting our inl8ntion to SP8nd more Ihan the income from oijr endowment. This also enables us lo look more deepty al the perfomiance of the inveslm8nt portfolio and considor other ways of using our financial assets. such as potsnlially exploring $oGial investing opportunities in the future. In March 2024 il was agrg8d that the role of th8 Investment Committee would be expanded to also include responsibllily for the remuneration of staff. To also reflect the broader remit of the committee Ih8n just looking al investment performance the name was changed to Finance and Inv8stmenl Committoe. In January 2024, we recrnited three new Trustees, Lauren Smith, Rhia Canady and Caillln Tao. They were recruited through an open applicallon process where the vacancies were advertised across a rango of different platfoms including Clinks, Young Truslegs Movement and Assoclation of Charitable Foundations vacancy boards on their websites. Flnanclal rnvlew The Trust'5 work is entirely reliant on Ino)me from Its exp8ndable endowment. Durfng the year, we r8ceived an Investment inGome of £846,484 and we committed £1.085,032 to organisation5 for new and ongoing grants. £7,0 was paid as grants to irKlividuals. This resulted In a defKit of £449,650 at the end ofthe year against eamed in¢ome and expenditure12024.' deficlt £439,422). Th6 valu8 of inVestnts saw a £225,442 decrease12024'. IrresSe £1.743,619). The reseNe8 al the ygarnd stood al £23,187,059, of whlch £22,855.541 Is the 8ndowmenl fund and £331.518 is unreslricted reseNes. Ofthe unrestricted res8rves £1,877 is held as office equSpmenl by the charity and so not availabla for expenditure in th& normal course of operation. Investment pollcy and p8rf(xmance During the year the inveslm8nt management of the Trusfs investment portfolio wa5 transferred from Sarasin and the proceeds divided equally befvleen investment management fimis, CCLA and Quilter Cheviol who hav8 t8n managiro the Trust's investment portfollos on 8 dSscretionary basis since September 2024. The inveslmenl objective of the Trust is to ellhance capital value over the longer term and to generate sufficient InMe to contribute lo the Trust's operational and grant making requirements. The inveslrnent mandate is the same for both firms ond while the porttollo managed by CCLA is invested in ils in house Charities Ethical Fund, the Qulller Chaviol portfolio Is managed on 8 bespok8 ba&s. The investment portfolios are invested in 8 we114iversified range of global investments in tho worfd's prindp81 stock. bond and rrencY markets as well as investments in allomatsve assets such as property, infr8slructur8 and hedge funds. The Trust's investment polw whlch was revlewed and updated durlng the year doa8 not p8rmil inv8Stmenl in tobacco, fossll fuels or weapons and d&fense and restricts investment in alcohol, gambling, high interest lending and aduft entertainment. The Trust's investment managers are encouraged to engage in positive screening to proactively Invest in companles with good Environmentsl, Social and Govemance r8cords. The Trust's investment portfolio was valuod al £22,855,541 at 31 March 2025 a fall of £717,519 {3%1 slnce the beginning of the accounting year. Since the portfoiS0 was Iransferr8d Imm Sarasin in September 2024, the portfolio manag8d by Qullter Chevlot produced a total retum of 0.7V¢ arKI CCW -2.7% aInst the benchmark return of 2.1% and Ihe ARC Charity Steady Growth of 0.70A.
TheTrknghTrust TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Portfollo valu8llon8 are arcul8te(J quartedy lo Trustees and the Investment Gommittee is responslble for undertaking detsiled monlloring and rgvi8ws of the Tfust portfolios the investment manag9r5 QUtsid9 of Tnjslees meetings. Risk management The Trustees are responsible for the management of risks faced by the charty. The Tnjstees agr8e the r18ks annually. Procedures have been pul in place lo manage any risk identrfied, includlng preventing fraudulent applications. The fluctuation of investmènt retums on the capital held by the charity poses the risk that gr8nt making may be limited in any on8 year. However. as both the capital and Sncome of Thè Triangle Trust 1949 Fund are expendable in line with th8 objects of the Trust, the Trusts88 do not see minor stock market fluclualions as major risk. Despite significant global events, th8 portfolio continues lo be managed by specialist investment managers and has benefitted from diversification away from th8 UK and in particular into the US and Europe. Nevertheless, Trustees will continue lo review all the risks to the organlzation on a slx-monlhly basis, and the Director and Chalr will also review risk ratings on a monthly basls. Reserv•s poll It has been the policy of the Trustees lo dlstribule th8 annual n81 income from its endowment each y6ar in the form of grdnls lo not-for-profil ¢xganisations and a small percentage as hardship grants to P8nsloners. However, In reccx3nillon of the increase in the value of the portfolio over recent years and Ihe current challenges fadng many charities, Trustees made the decision in 2022 to distdbute up lo £1 m annually. We will supplement our income through a discretionary withdrawal of capital if requlred. The whole endowment 1$ therefore available as r8serve. overseen by the Inveslm8nl Committ88. A balance approximately equivalent to at least slx months. forecast expenditure 58 held as a cash deposlt In the bank account with the Charities Aid Foundation Bank and as cash with our Investment Managers. This allows u s lo m a ke regular payments of grants and Involces easily and ensures all financial commitments for a slx-month period could ba m81 in the unlikely event of the quarterly investMt income recelpl being delayed or not receSv8d. Grant payments are made on a six-monthly basls, rather Ihan annual, so this helps to ease cash flow further. A cash flow forecast that details the full financial year and then SIX monthly for a further 18 months has beon developed lo highlight points when addilitinal funds will need to be requested from th8 Investment portfolios. Plans for ¢hg futur• On 31 Marth 2025. Trustee$ have provI8ionally allocated grant payments to organSsations lo the value of £1,171,533, to be funded by lulur8 Income over the coming two years. The payments are all subject to satisfactory progress of the fundgd work. As detsiled above. a five-year strategy starNng In &orll 2023 was agreed by Trustees Using ort sUppOn9 work in the young people and criminal justice system space, aimed at those both already in contact ¥Mlh the criminal justice system and thosè al high risk of becoming so. Aft6r focusing funding in the flrsl three years of th8 strategy or¢ Sport 4 Development approaches and young VKJm8n and girls, Trustee8 agreed Ih81 the focus for 2026-28 would continue to be on young women and glds aged 11-30 to build on th8 work that has done to date. Stru¢ture, 9overnanGg and management The tharity is endowed with a Trust Fund, the income from which is distributed In acccKdance wllh the object8 of the Trust. The Trust Deed albws thg capital of the Fund lo be similady applied if reqLFlred. The Trust is managed by a Board of Trustees MprISIng a chairperson and nlne other Tru$le8s as detslled on page 10. Trustees are supported by a part-lime Director and a part-time Gr8nts Assistant. Existing Trustees appoint new Trustees ensudng there Is a mix of skllls on th8 Board a5 idonlifigd by the 10
TheTrlanTn 1949 Fuiid TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 TnJstee Board skills assessment and audit whSch we regularfy undertake. We f o I l o w our policy for Trustee Recrultm8nl which indudes open adv6rtisement of any vacanaes. There are job descriptions for Trustees, Chair and Vice Chair whlch we regulaAy review. The maximum term of office for an ordinary Trustee is initially five years with an 8Xt8nsion of a further fiv8 years, bul this can be ext8nded if the Trustee is holding the posib'on of Chair or Vice Chair when they rgath the end of their 10-year temi lo allow them lo complete five-year term as Chair or Vice Chair li.e. up to a maximum of 15 years in totsll. This is due lo change to Trustees serving up to the temis of three years. An illduction process for new Trustees is In place whlch includes a meeting with the Chair or Th'rector. 8 visII to a current grant holder, key docurnents to read, access lo online resourGes for background informatlon and 8tt8nd8nce al relevont oxtemal training courses dependent on the skills and experien of the new Trustee. We allocate grants and regularfy monitc the Tnjsl's resources agains18n annual incom8 and expenditure budget. Trusle8s consider grant applications that meet our funding pgli¢y at quartorfy meetings. The day-to-day administration of grants and processing of applications prior lo consideration by the Board is delegated to the Director. Progress of funded projects and development work is appraised regulady, through written reports from the grant recipients and periodic visits by Ihe Director or Trustees. The charity is a member of the Association of Charitable Foundations {ACFI- Th8 ACF provides useful lnfrjrniatn on good practice and changes in law affocting charities, and acts as an aulhorilative lobby on behalf of charitable foundations wllh the government and regulators. The charity is also o member of Clinks and part of the Corston Independent Funders Coalition. The Trust follows the Charity Govemanc8 Code for small charitles, published by the Charity Commission. and Trustees are satisfied the governan proceduros in place in all areas adhere to this Code. Kèy management personnel remuneratlon The Trustees consider the Board of Trustees arKI the Director as comprising the key management personnel of the charity in charge of directing and controlling the charity and runnlng and operating the charity on a day-IIHlay basis. All Trustees give their lime freely and no Trustee remunerakn'on was paid in the year. Delai18 of Trustee expgnses and related party IransaGlions are disclosed in not8s 6 and 19 to th8 financlal stat8ments. Trustees are required lo disclose all rel8vanl inl8r8sls al the stsrt of each Board meeting and withdraw from decisions where a conflict of interest arises. A policy for the payment of staff Is in plac* which adheres lo the principle that staff should be paid a fair salary that ig cornpelitive within the charity sector, propoitionale lo the complexity and respon5ibilily of each role in line wllh the Tnjsl's eharitable objectiv88. Al Salaries are benchmarked against comparable roles in the tharity sector at least every 5 yeers and a pay increase May b8 awarded annually dependent on an Individual $18ff memberfs performance. Charltles (Protection and Social Invgtytmentl kn12016 The Triangle Tru81 receives income from investments and does not fundraise for donations and grants. As a result. the Trust does not employ any fundraisers. has not signod-up lo any fundraisng regulatory standard and has no ongoing monitoring in placè. The charity has not received any comp18inls with regards to fundraising during the year. but in the unlikely event that fundraising commences will take steps tsken to make Sufe vulnerable people are protected.
TheTriangleTnBt TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 Legal and admlnl8tratlve Informatlon Reglstergd Charlty Number: 222860 Trustees The Trustees who served IhroughoLrt the year were.. Ms Karen Drury- Chair Ms Allson Hope- Vlce Chair Mr Hindpal Bhul Ms Clio Carpenter Ms Doreen Foster Mr Dawd Loudon Mr James Marshall Ms Lauren Smith tioined January 20251 Ms Rhia Canady O'oined January 20251 Ms Caitlin T80 (J'oined January 2025} Staff Ms Vlctorf8 SoLrthwell - Dlreclor Mrs Frances Harding- Grants Admlnlslrator Office Brighton Eco Cent. 3941 Sufrey Street. 8rfghlon BN13PB Webslte www.triangletrusLorg.uk Auditors Begbies, 9 Bonhill Street, Lond¢)n, EC2A 4DJ Bankers Cafcash Ltd, KlThJs Hill, West Malling, Kent, ME19 4TA Investment Managers Sarasin & Partners LLP. Juxon House, 100 St Paul's ChLtrchyard, London, EC4M 88U The tru51ees' r8POrt w88 approved by Ihe Board of Trustees. Ms Aliso Datsd". Hope- Chalr 12
TheTriangleTrust 1949 Fur STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The tnJsiees ar rsponytAe for PfepJnng th Tru5tee5' Report and the financial SLitemt$ 5ft 3tt-ordance wilh 3pp&cablÈ law and UnrtÈd KITr9d A¢ownbn9 Standatds Iunrted Generalty A¢¢pted Accotsniin9 Th+ L•w appIable to In Erwnd and Wa5 requ th• ltu$t• to ppa finJnTral slem• for eacb finan)l yèar whth give a 131r of the state of Jffai(s of th• chanty •nd of the int1n9 resour¢ )nd JpphcJtton of sourCeS of th• canty for thal ytjr In pr•panng thse finanual sial+mts, th• tfU5tees required to.. . se¢t suiubl• ac¢wnling PD15 and appty ttlem ¢%51enY. . otysw tht methods and pnncplts in the ChafdJe5 SORP: . mak pJdomnts and e51imw•s that &r W$onab Pdl.. - State wthether apwicable accwntin9 Standart5 ha¥e been folluwed. subitct lo any mJtenJl d•pJrnirè5 disd05ed Jnd explaird Tn the financial sui•m•nts'. - preparp the fr+)ntyal stai•ments on Ihe corwn basis unless rt is Inappropftatt io pre511me thJt ihè ehar 11 >Jnbnuè In •wf31x>n. Th• irustees ar• r•5ponsrfole for kèèping SUTr1 accounting r•cor(1s thai dYs¢los• Wilh reJsonable a¢wrJ¢y Jt any tjme the finantsal posityon ol the chanty and en4b them nsure tha¢ the finJnoal slJternenis ¢x)mply wi Charrt5 A ?011. thè Chanty (Accwnts ané Reportsl Re9utsIrIS ?IJO8 )nd the provop)ns ol Ihe Iru5t Th•y Jr •lso responsible lor safguar¢liry the è55ets of the charity and henc for takino r•asonJble sieps for the preVenfi det*L# of fraud Jnd oth•r ffr•gutarrti•s. 13
TheTr1angI•Tnt INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE TRIANGLE TRUST 1949 FUND Op•fv•n Wè have 3varted Ihe finjneial staments of The Tr¥3nyle Tryst 1•49 Fynd ltrè 'tharty'i IDr tho ar eVrt 31 ar¢Th ?. ¢ompns+ th •lJl•ffl•lt ol Fin41 ArtIWtsS. ihe 831ance aheèi. th+ St•temm ol Cash Fl ano ',be notès ro th• finanoal stanIs. iTrduding ) Swmm3ry of $19nhSc3nt acc 115 The firancial r•potno fvamewoth Inal 3ppld fft their prepar3ts0n ap)1• l•w and Unjied kJngdEth A¢wunO Jundartls. Ineiuding Fin4nl Reporbng aiandard 102 Tjre R+P Stand•rd thè UK and RepublK of Irethnd (Linthd ly Ingkn fJener)Ily A¢eptèd A¢¢ovDMg Pixtycel In tsur owryw. the finan¢1•1 stsiéftrrts 9rwe 3 vue 3rd faK we ol irLe of the ¢h•rrty's atsrs 45 • 31 Maroh 20?5 and of rts IrKI r•$ourts nd )ppIatron ot rtsourees. for thè year then eTrJed.. and have been prepared in th• ch•ThA 20tl. Basis lor opinion Wè etsidlled our audit In Or£I3Ce ith Intemational aund&fOs AUrtid (UKI {liAs I1) Jpptab taw Our Fesponsibilites unoer those 5adardS •rE dwbed ihè ALrd= for &)é aualif ol finanoal :f•rements settion ol w rèF4rt 4Ye ir IndwrnOvrt the canty In a¢rda•¢• lh+ •lhc requirenwnts thjv >r+ rd4ant the finaral 5tJi•rn•nts In tm UK. WK4udiry FRC'5 Eihic Jft4•ra e hJfjlSèd OLyr other eth.4 re5FWSts15 In ¢1ft¢ these rtyn. W bek IhJi thè audit evi(lnce e h¥t •b(akr•d is Slkffin1 and Appropna • b•s6 for (w wTh¢)n Con¢bJsi¥r>s lAtIng to going nCern In a1n9 tnè finanoal ststtments. wt hav• I1 tntstets, us• of th• wt•rn ot lenting In ih pr•p•r•on of t financial stare1n Is approwii•. c•ylon5 Ihai Indi¥hdu¥ty or ¢¢Me¢trvely. mjy 5¢ 54fiffit OrJbl oft tr ¢h¥ty'$ cw••nue as a 90ry ¢¢n¢ern for 3 per ol at1é351 mtsnths from finan&al staterwts w• 4uthorfj•d f(¥ 1SSUè. reant seLtons ofthis r•port Other inf0mlI0 The o%hr Inftsmjrion ¢om¢ftss the InfornabDn ift th• 4nnval other than th fmanek•l siwn+nts ancl 04tr audriorfs repon threoft Tht tyusièes ale re5ponsde fLK th cth+r Inlpmw ¢or5taJned the arTrual rtrpor. Our opinTh on fin3noJ statents do•$ nc4 covw the othw iTrforna and w• 410 not èwèss any form ol aSSUfance ne5n thern Our rtrsp0ngrty to read the olhw Inrormatytyi and. In doffig so. c4nsid¢f whethw othr infofrnatron ES maEènaUy Incon515ni ttte st3teffts •y our kswwl+do• obt)In•d In tr course ol the 3usJil. or Olhervffj5 &pp+ars TO matenaily m155¢ateLI If wt rn3r•ibl Inc64}c1é9 ar app3t m3tèll>l rniSStJttments we required tr) deterrntne whethr gres rsè to a matsr& misststtrrTrt fft %b f5naticiJI statsrnents thwngtlves. 11. bas•d OTh th* lwrk wè ha ?erfprn. we tslai It a maienjl m5$%leMt of th15 Xher irrfofmarx>n te ai• re4ed to reFAYt fact Wé have 10 rew¢1 rhis rea. M3tters on trtTrich t¥ ar+ 1•4u•r•d to report by •yrc•pts"on '& n3? nothing rF4)n n of the in > th• Clwths {A¢u1• Reportsl RegL¢l3ton5 7008 wuirs us to port ty you rf. m our cyi¢ the Inforn)tion Oivèn ffj trfe financ131 siatemenr5 15 Incwst•nt in any matenal rnsp•ci th+ tyvst¢e5' Tewpt or syffitsént 3¢Uncrn9 OrdS have not been kepl ty the Iip.3nei31 statsment$ rvn In 4gfem•nt wrth th accoLmry rewrf%. wè h3¥e not réceived al th •Aplanakns we f•qVV br wr •ud 14
TheTrlanTrust 194Q kiind INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE TRIANGLE TRUST 1949 FUND Rèsponsibi1#s of InJ5es As epL4inetl more fijlly In the StatenI tsl tru$t••s' rw&bilitis. thè $t+S Jrt rsptsnubl• for;h+ pfepJratrJn of the fin•nv315ts1ewnt5 ar+d for being satisfjed ihai gw• A tru• and fJw Yie. Jnd for such Intèmtsi fQmfpI Js th trusttrs deiermine Is necessary enab ihe prepar3t+Dn ot finJ•t411 starements tnJi a freé from mjitnal missiatémèni whthw (XL¢e tt> fvaud or ff¢( In pwanng the fiTranciJl stJments. the wsiees Jrfr rèsponsibltr ltsf 4sse551nq the chJftys lo Cènti• )s a g(yng o)rm. (bsdtsno. Is 4ppleab. Mjtte rélatd Ip gofflq c&eM and Ihe fIr basis ot a¢cr•JMV¥ irustws •ther int•nd 10 e•as• op•rJt•JnS. 01 h¥• no 115¢ Jllwrwti but to th) so. Audilorfs rn5ponsibilllitrs tor th udSt ol 1knala1 5ts1em•nts We h3ve been apwntèd as aud51)r Ltnder srttK>ll 144 of ChJnu•s Acr &OI l •tKI r•port in 40¢or0ce wth the Au ano le9aD$ made e •ffeet Ihr+un¢•r l)Jr obJ•etT4fS Jr• obt•m reasonab Jsswance thbo whether the swwTrents Jg a Who ffe f¥om mJiènJl misstatment. therher lo fraud or wror. and Issu+ Jn .iudrtort5 report that our OP¢nion Rea50n)l)te a55uranc is • of assufanc but Is ntyt a guar&ntte that an audrt conducted In actoan¢t l•A5 IUKI 11 always detect a mJinJl m+sststèmvi It oxisis PA15SL3iements can •rise trom fr)ud ot wtot at wn5thred malen3J rf. rdiwJually or In ihè 1931. tbey could ie35onJtsy be eippued Influ•ne+ thlè èc•nom¢ tlwsw< vt Us0 en Ihe bay5 01 these fin3nciJl 5ts1wTrents Tho •xtent b) ¢ui yo¢dur•s •r+ Gwaty• Ofdele¢g iryeoLdanbe5. IndpJth9 dtwld b•knw. Ejtttrnt to which th• audit wa5 capable of dele¢ling WTeoularilies. Inolvding fr•vd lrnvBulaniie5. Induding fraud, 3r Instsnces of DOn-COln¢+ ith laws and wulatsons. We deg9B edul•S tsur rspw5ts1itye5. ouuined above. 10 delect matenal mrsstsiemenis in resFW of Irwulanoe5. Inclvdmg fraud Thè eKl•nt lo our procedufes are cap3bl• ol ¢Jeiectirp4 IrregulanDe5. Includin9 Iravd is del¥ trekn.' -Agrwi)ent ofth• finanaal stJt•mit d1s¢40sur5 ty) supporriw do¢umniatson. - En4urs CfiaOn ol rnana9nI and ihe trustes as b) th•t of •ny non4pIne ¥Jsth 4W5 ty w•gul•iion5. w any actual or po¢enW darn¥. - Rvi• ol mmuts ODard meetyTrJs IIvDughwi the penDd.. - 5n¢•tyOt)tng unwedtIry fflo the paiLKe. wmry andlor ent ol lesn9 ~ E¥Jluathon of the Seb •nd olthe xcounting Pouc ¢seft by Ihe chanty. In tg th• risk vt m&nagerrnt o¥tmde of Iniernal mntrob. by underuking pr¢rdurs tr review entnes Jftd ev>3n9 th•thr ihere wa5 e¥tr¢ of that repres¥d J nsk tsf mJtrnJl misstatrnertt due to fraud. and - We 355es5ed the su5CePtthIty ol thè ehanty'5 finantsal stateménts to maiftal mssuterneni. Incjudino ftjud mlghl omir by o)n511Jenng My nsks Impathifig stJtèrftents r audil dewdned to re¥wd V) n5k5 of fflatenal ff455taiwnl th• finJn¢wl 5ts1ernènis. rewgnt5iry ihJt th• ns of noi deMc)nq a mater414 fllisststerneni iv fraucl 15 hi9her tran the risk of not deieamg on 51r4 frvm effor. a5 fraud m3y Infve dehberate eonealment by. lor earyle. fofgery. m15repfesepiJDOA5 or thrrJuqh colh1)n. Thère are inhefnt Iimitjbtsns Ihe Judrt ptc<edyr5 perfonntd Jnd fvrther mOVed Thon-wnl&nC Wtt. 13W5 and YgulJtons 15 trt 15 aftd irafisadWS rflectd In th finJn¢iJl 513twr•n15. i$s likely we 31e A ljnher des(PtrJn ot Out TrSPonlbtht*S 15 •v•ik4bl• on the Reprytyng Coupofs at.. ttllP5JJ 15
TheTrlangl•Trust INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE TRIANGLE TRUST 1949 FUND Llg• of our fWt Th15 report is rnJde 50t¥ry to thè ¢h&nty S TIUSTeeS. •$ a body. In accordance with Part 4 of th+ Chantrs (Accoun antt Rèo0rt51 RegLdatwts 28 Our audi has t>een un¢J•rtath•n w tht we mgh SLè the chatys trusts ih05e mJners Jr requir•d w SL• to Ihtm audrtor's reptyt and for no other Wrpose To th• fiJlf•sT eAtent ptmiitted by law e do not aecèpt a55urne responybiity to arnyofiè other than the chanty the chanty's trusiees 3S 3 boty. for Dur audrt Ofk. this p. or ts the Op¢$ we havè lorme K3thèrinè Oé FCA ISÈnior Statutory Aud•torl For Jnts on bèhaii of Bobs. JlatLrtory Audrtor Chartèrèd AccotsrrtJms 9 gonhill aireei LoThlon EC2A 40J Begb4S Is elbQ..b* for 3ppJinvDeni as audrtor of the chaiity by ol rts as of J -.pJny Uthder ts•¢bon 1& 12 of th• Cfympaniès Aei 2DD8 16
ThaTrnTrUSt STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 q1fft5tricted EndomMt funds funds 20215 2(125 Total Vnrestrd Enduwment ds Toui 2015 2024 2024 -ty04 840.484 728.485 en iture on: Raisiny knds 12. 20.533 33.453 Chanlablo acM5- grant WV4ramm Youn9 Carw5 251.523 251.523 381.288 381.288 Cnminal conv$ Rel1 ol Pov•rty 1.003.004 8.094 1.003.064 TT2.770 11.849 11.849 Total ¢harftabl expndknr• t.262.081 1.202.881 1.185.gD7 1.185.907 Total rnsouroes emnded 1.275.581 2D,553 1.290.f34 1. ie5.907 1.165.907 N•t In¢omW[•xpendr) 1429.0071 120.5531 1449.S50) 1439.4221 1439.421 Nèt gaInlSseS1 on inV•slrn•nts 1225.4431 1225.4431 1.743,019 1.143.819 l•uty¢In9lnC0rnl sourw b•lor• 1429.D&71 (245.9961 1075.0931 143P.4221 1.743.019 1.3D4.197 nds 473.231 1473.2311 279.065 1279.0651 et incwi•nWloidg•kn91 44.134 (719.2271 {075.0931 (100.3571 1.404.554 1.304,197 O¢hv f•¢4¥nfjsed gains and las$ 12 1.708 1.708 44.134 1717.5191 1873.3851 118D.3571 1.484.554 1.304.197 Furld browhl IDard 287.385 23.573.080 23.880.445 447.740 22, 108.508 2? 550.248 Fund b•lanoes urried fornard 331.518 22.855.541 23.187.059 ?87.383 23.573.080 ?3.8.4) Th• si3m+nt ol financÉJl actiWtiÈs 7¢14th3 411 @a$ 4Ad los%*s r•cnISed in ihe ar. mcorne and +Mpettdrtur• dèlwe frorn nllyIn9 •divrt5. 17
TheTrknnghTrust l (J4fj Pui BALANCE SHEET ASAT31 MARCH 2025 2020 2024 Tange assets i¥esim8nls 13 14 1.877 22.855.511 23,573,060 22.857.418 23.576.042 Cufr•nt alsets Debtors Cash ai bfink 8nO in hand Fufv18 lundmAnager 124.086 69.219 307.e I14 253.759 209.918 500.gll 485.491 Cr•dllorJ: amoun1• l•lHng du• T*lthln one ye•r (181.0> Net cent assets 329.841 284.401 Total iss•t• cuff•nt Il•bllltl•s 23.187.059 23,660.443 Caplial lund• Expendable en<kn¥mènl 22.865.$41 TJ.573,L Income lund Unrestricied nd$ 331.518 287.383 ZJ,187.059 23.860.443 T1 financial sfalemenls Wffjf• apwo4ed by Ihe ..,... 11 12.25 Ms Alison Hope 18
I C149 kLind STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2024 Cash 110 from gp•railng adlvhl•s {1,425.3521 {1.140.970) Inv•silno a¢iMIl•s Purctsse d ta[lble fixed as*s Pwclkw of investments Proceeds IrrAn di¥n)sal ol InVeSthlS Investment mccrfne receNed 11.450) (24,546,W) 25,233,654 846.484 279,Cffj5 n6.485 N•t Cash g•n•rat•d from Inv•sllng a¢tivilb% 1, &34.058 1,1))4.1 N•t ¢ash g•n•raMd Irom a¢tlvlil•s Incr•as•lld•crnas•) In cash and ¢ash •qulvJl•nls 108.706 1136.87D> Cash cash e¢wNalenls al tewva Y 463,677 600.547 Cash and Cash •qthal•nts at •nd ol y•aT 572.383 463.677 R•latlng to: Cash at bank and in hand FuTrJ5 with man Cash experKlable 69,219 307,666 195,498 253,759 209,918 5n.383 463,677 19
TheTrlwl•Trust NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Charity ¥nloFmation oèernff 1949 amefi kn 1999 and 2015. 1.1 Ae¢ourtthig ¢on¥¢nti The finanoal staremènis have prwred 3ccordarKe >th the tharrtfs irust deed. cha+$ A¢t 2011 and "Accountsn9 afid Report9 by Ch•rths Ststmtnt ol Reeornmwbd Praebee applKJble to cbantsès preparing their ac¢tyJnts aCrdanCe th ttle Finanual RepNing Standard apphcable in th U ano R&public ol Ireiantt IFRa 1021 rfeff•aN 1 Januèry 2Q1&1" The cbanty s a Pkbthc Enbty 45 defined by FAS 102. Thé finJn¢131 Statèm1$ h•v• d•partd from th Chants+s antt ReautabMs 2QO8 lh exnI rèquifed to provth a and laiff VleaT. Th15 deparnire has Wb¥olvod lolltrffji ol RecommerTraèd Pr3e4Ke for ch3nbes appl09 FR& I0 rather ihan the vr5itsn of the ataienxni RecofflmenOè¢l PfWCe relorfed tho Regul5 but WI wnc• boen Wiihdf•Yt. The f naneJ31 St3Tements a ir¢ stw1g. wttith ts the fvnCts ol the chanty Mon•tsry amwnts In Ihese ffinan¢t slatwnents afe rwnded w the nearesi £. Thè fin3n031 siatrpènts have been prepared under the htstsncal c05t rThxlffjed to Clude thè re¥aluatioD c• certJffl finJncd in5trumnts 21 f3lr value. The pnPaI acKounbng policses a($trd Jre stt out below. At ine rirr o13pprowng Ihe financial staiemenis. ihe TN5ttt5 hav a reasofioblé oxpo¢iaM fh3t cAnty h>$ 3dtquat r•y>ur¢s to agwatyMJl •XkStn¢ Ic lh foTtseeibW fvtUf. Thu th Tr¢•5 ¢4)rtDn¥+ io 3dtsPi thè gthrV e4¥ basis ol ¥¢¢oufttyn9 in prpanN4 the st•¥mwts. IJ Charitabl 'nrs Jnds a •vlable li¥ usé at the dl•t of th• hi#• m ¢1 trr objwives. Th Cpiairfy PS lund•d tyy an •pwd•b lyrrfl. kny traTr5f•r5 or * trT• ld ao sh¢yn on th• SLa?rnni of fman¢ial as transftrs bwweh ldI Th• from lfv• FS us0 ty m••t the obje 91 th• ehaaty. 1.4 lTrcrAniTrJ resOWC•5 Income k5 rwn15ed Iht tharty Is Ivgally tntthd to th• anbjunts ¢ bè me•wr•d reh•bfy, Il Ine¢m from fftvwn•nts L th• 4f fin•nty41 •¢bvrts In I yar rt is r•¢1¥•. 1.6 Re50urc•s •xpenrfwl 11 ¥pendthre Is Indudd on an xvu5 ba5 ** wlwn t•Èr• is a legal or ¢4ntrLK The cbjrty makes gf4nt5 .0 and In5trtutrOnS meétsng A5 charLible *)bJvts In accordance the JORP pv..$10th Is made lor •1 OTants auth¢nsed by the Board ofTrtsstèes '.n the year Vthere Instalmen of grJnt5 3re wnditorial only Ihtsst grant 1rtStalrrwls all thé eondtycS have been at th+ yeat end 3no the Instalments h3vÈ been approved to be ma<le afe recogn15ed In the finanGs•l stMemen15. The eAperse for thè per Is reduced by any cancdlatyM ofgrnrts authon5ed i1 not subsegu•nty requifed. 20
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
ICgntinudi
lfi¥strwwt mana9•mni fws in Sp¢I of the in¥e5thients dOu¢ed 4Jiiecrtty from those
InVestrilS and not Invoiced 5eparaièly kn the charty. A5 311ud by the JORP the share ol tttÈs+ ¢ost5
whith would r•late io s unrts has noi bèen rEcc¥nr5ed a5 an exftse In thesè fin&ftcaal st3iement5
Invsirrent Incorne In¢orporJts MaTh1meThi lt retytys whr rè¢eivt(I diro¢Uy by lh cknanty
G0vwnet costs are wrely th0 ne¢s•ry lor thè ¢hanty to me•t thè adm%nisiratyv r•qu4rements of ihe
Charrty Comrnis%on. In acc¥y¢arKe the SORP ihesè a )1$tt a¢mss tht ¢hJntablt Jttvitis The
bay5 Ofall.0 15 caknÈlated by the pei¢enla9e ol total 9r4nts p•d tn that ¢atgwtr.
Support costs Jr• Jppmn•d b) th• cariiabl• by prrm49• of tstal grants paid Én thai
1.6 Tan01b fixed a55•ts
Tangl fixed J55ets are Innjaty meJsvr•d Ji cosi and subs•qu•ntty m••SUf•d at ¢051 or Y•luaiwi. net ol
depra1)0n and any wnpainnent fosse5.
DepreLyalw 15 rKoOn so as to writ off thè eost or Yaluabon ol assèts I$ thwr r•gdual ¥ae5 ovèr their
us•frJl livès on thè follt7Wfft9 ba5•5'.
OffKeflb'ro45 arrfl •wipfflert
The qaln OT Jrbig on Ihe disposal ol an assèt Is dèternin 35 thè drfferw¢e be•fi thè 531E
o¢ed5 Jnd The carynq value of Iho Jssei. Is wnisè
TheTrlan•Tnt NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 PJSIC fin3noal 1kalie5. Inckndin9 uediiors xcrua15 Inilty aiiransx•n wc. Firtènoal Iiabilrties ¢lassthéd 3s pkny3b thin onè year are am(rtisèd. Only those grants which are al1thsed. uncOndrtryal >r4J unp•id at the yeJr end ar PfovOe4 in the fn>ntsJl 513&emènis. Grants still subiett to unfv1fi4ed LIrt5 at the balanet shéet ttaiè are d$sCe &5 ¢ontywent li•tstilies. Oere¢o9nirwn of finan¢ial liabilitiel Fin3ntsJi likn1•s ar dt•cow41sed T•Jh•n lh• ch¥rf¥'s c•TrtraLul Obli&05 •xw• or x• di%ch&rged or ¢afieel. 1.10 Employee nrts Th cct5t CTI 3ny untssed holrttay •n1thl is r•¢wnised in the perK)d in mptoytt's Terminat benefits are recognsed Immediately as an expense Wh the der$trab1Y to mploynwt ol an employ•• ty to provAY• trnninakn l)enefits. 1.11 R+iirmeni bmrfrts Payrmnts to defjn•O rt¢ntr6bLrt r•tir+m•nt bnefft s¢heffls ¥• cargod as an •p•ft%• M Ih&y laN du•. In th• applicaton ol the thanvs acf4xntsry potye5, the tnsst•5 af? wuired ro ma• luaq•menty. ¢spm•s assMPli0ns al>out the ¢arryin9 aMCmI of assets and liabikns trai a readity appwl from other Sour5 The ewmaies and 455wated 3S5UmPtion5 arè b¥ h1str)nl emnenCe Jnd other fadors thar ar+ 0)n$ere 10 l> relevant Acknal re5ts1ts may drter from Ih•5• •5Vrn•tQS. Thé and uTrJilyv41 are revW M ¥• owth.ng b•ws Revkssc75 to unt mat•s >r• r•¢oGniS•d ln the per)d the e5Urnat• Is r•vts•d htr• thè rèwsiw •IFeas only thji Per$. or n the penod ol Ihe iewsw and luture trt It few51W al1$ t¥)th ¢urneni an<1 futyrt per•Jd5. tund5 2025 fvnds 2024 Inuff.e trom Inw•5bm•nts Ini¢r*5t recwwatsle 810JSD 30.134 713.418 13.009 840.484 726.485 22
TheTrknryhTrust 194Q l-Lirid NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 EXPdItl on tatslhg Ivnd5 Un5111¢¢d Ettdo¥Jmnt htnd5 nds Total Unrnsll¥et•d Endxmni lunds lunds To¢•1 2025 2025 2025 2024 2024 2024 X4S3 Tht £1? goo vnresmethd IMt man•g•rft•fti tt•S ¢thpS•s lh• in¥éSbr•nt manwmnt r¥i•w c0515 £..553 •llDCJtod to th endwnpni 15 the Quilw Che1 prytfVI managwrent fee 23
TheTrlan*Trust NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
TheTrlangleTnot 1919 kijiid NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Grants pay•b 2025 Xb?4 Youw Cm Grnnts lu 9Ul10$ 11 w•n•s (20.. 171 Awus Centre Br•M C•ws cenl nJgs Profft¢t Carer5 Tru51 Tyne and Vlear Crfi1d Tnjst Glouce5tW5hir yn C¥ers Hl9dOn CJr• 15.000 29.449 14.SQO 29.305 7,500 15.1)00 15.000 15.000 14.000 14.525 29.190 14.652 7.50D PIYTIME Youry Carers C&rèr5 SeT¥Ke SJndw•ll Youno CJrer5 Sèfton Carers Centre Siwpost Jlockport for C SohltuII Carets Cthtrè oef Fknan¢ St Caror4 Cw Carers Centre The Foundaiion 14.&73 13.552 27.59e 9.785 30.000 15.ODO iJ.£oo 29.500 14.1199 20.188 13.138 217.530 337.856 25
TheTriangl•Trust 19191 UIYJ NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 anls payabl• Grants payablè Young People with Cr¥Trinal Convictions Gr•nt5 to In5trtUll4s 38 grls12024-37 3Pllar5 ProJeei- 2 grits 20.wo .ac0 26.rmjo Xl.011 17x9 Aeuofi Ye4rth Boxing Int)n CIC Allenda Al-Hufraya 29.521 25.rffjo 24.Wl IOAKKJ 15.000 8ass Yorshif 9udd A GIFI CIC Catzem L cl1•5 gr•ak T[r+ Ctympany Cr&fifièkl Trust Exil FpiAtrI 15.000 13271 24 7.000 19.89 21.173 Ftham Reaeh Cèd> GROW 14.797 24.500 Hutld&rsfi•i¢Y Ttrr Foundati Ingde cOMcOn5 Konnect CobTffiun•3 CIC •r>+ywtt Hoftzonts New Dawn New Day On th Oul Len5 Iletha Opponuft4E -aPOrts PJw5 for pro9$5 CIC Placè2Bè Prtson R•d•) A5$¢th pfism Refomi Twsi Rèasffis Why F(w¥lallun R¢ocy Riyn9 aS Jwppon CIC ROChda AFC •alS Foundat 3010 15.iK(I 30.1100 f5.000 24.888 10.000 13J10 14.820 25.000 30JJW 30.000 27A33 29fy40 10.573 21.0(JO 7.000 11.945 30.INJO 15.DOO 18.178 10.800 24.290 13225 pap Insid& •P2rt 4 Life UK 13225 13207 14.17) 19. 24.300 39.997 t. IAary'5 fouth Club tsfepping Pxihway• 30.tyJo i5.w) 30.0 Sich Up Tmpus Thtr leo PrLyamme CIC DJdtye55 Dauglrtev5 Proftet Th• N+* F¥tyr•s PID¢1 Trail-glazers Mernrhig TA aport5 and CIC 15.430 18.805 17.810 24.000 lJ.000 20.000 26
1949 kuiid NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Grants payabl• Iconlthued 29.888 WIAITS 887.X12 e84.744 R•li•l of po¥•rty Grants #> 0gr•ntees 12024: 71 7.¥0 10.500 ?.Dg? 03? 1.Q33.100 Carw5 y e•rers- grants 5uppM iffw¥•d •dLathin rArtcomes lor ywn9 ¢ares young Jdull carer5. Ytyj Young oople Jnd the ¢r•Yiin>l just Sy5tWn - 9rJnts jypport 4udv•nwieil PeDple at nsk ot h•wit Ihew dwupi•d by th• rrniin•l jusbce systsm. Rel0 Povwty parn1 lor the JIl•WalK of poverty arn Jwarfed or pmseni employees gf the pharmts indusrry. and th•r dwndents. ommivwrts The chanty awards multi-year qrants. subJ•ci t the reF¥)rtinq of the outcom• ol ••c fftstslment. Whèn th• ¢ondrtion5 ft>r the next Ir6ialment are mel thè grant ts In th fi9ur• fty Ii•kliie5. In Jddiiw) to ¢omrnrtted granis Indu¢Jl In th• has granted fiJnd5 Ot £1. 171.533 1?0?4 £1 ?1 I .844 1 whic ale subpet ID condrtws thji ww tA> be at the •rc sht dat• and •trxvth"ngty not these finaTrc¢¥&l $t&ents Trn5t••s NoThe rf the rrustees lor any rSon3 oJnne¢ied with thmi r£ed any remurwatson or bentflls ftom rhanty the yar. tyus1 trJvel èApense5 paid to nine tnJstes tQUlld £4 1 ?0?4 t1.992.. 5 Inj1. No insUrar lirnityng trusl*èS' fv'ats"Iiles was chased during thè yeJr12024". nill. 27
TheTr1anTru$t NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARGH 2025 Support ¢Q5ts 2026 2024 ¢osts ataff D•préci• Reni, Insurjnee an¢J 5eM£ ¢harpes Pftnbng. 90Sla9e. telèplsone And 513ponery taff train9 and fe¢Nityment Corvputw supWit5 V4+bSrt• •nd supp Jrani monrtonffl9 and staff travel exF4ns•s gD.978 90.978 74.488 7.8OJ 453 453 854 301 8,047 8.647 31.571 31J71 2.002 3.080 20.748 her gtnerèl 5uppon costs Cor.stsiiJncy. 1KJokheep9 and iemp staff 3,060 8.SQ5 Audn fees Trustee travel and mieng5 traini 4,828 IP,912 20D 4.826 19.912 200 4.800 4.87¢ 145,70• 770.049 132.ao7 Support and goYmartL ewts ro th tvds of orant In Gram mcfflffonng ¢osts ffichJd £4.110 gracO th• orn7ty d•thbJse al £21.ieo oft lYr1 )mne eosts Indude5 pa15 * tre of £4.800 Q024. £42CQI for lo•s. Gains and lossè6 on fvff fvnds 2024 Gainstlbsj arising on" RevaluaiiJn ol irivtsiwls Jajp of Inv•5thtllS IW.323) 418.88D 1,743.019 1,742.81 28
TheTrlangkTrust 1949 kliiid NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 lo Employe5 Numb•r ot •mployw5 The avera9e monihty numbw of mploy•es dIng Ihe was. 2 2D24 Number Numb•r Grant admnigtrawjn and suppon EmpkymTht ¢osts 2024 W•$ Jrnd gJtsrs in¢luding s•tary &Knfi¢• l>w•fits ocjal secuiity costs Employèrf5 pèn5 <0515 &5.180 70,D71 2.514 1.ge3 00.978 74.488 Th•t• wèr on ¥eray two part lime •mPb)YS dumg th• y•ar120?4. r0 part umel. rhe rHJmtr ol eMpyeeS w)Se annual remunèraith Wa5 £00.000 or morè 2D25 Nwnb•r 2024 Numl £OD.QOI w £70.000 t70.1 to£aO.IXKI Empby•r wfi5ion ¢ontythJb)n5 mad• rn5p•d ol th• hv4hor paid •rnpboyee wel¥ £1.327 12024. £1.8931. 11 Taxalioib Th• ehènty is •xempt Irrxn taxabofi on ts aCth5 b%+ Y QS applied fof charitsble purFw5. 12 Other qains and $Se5 Efvdowment EndoTA•hènt fund4 futhds 2025 Xl24 G&1{10$*5l upry¥'. For•lqn +th0• 11.7D81 29
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13 Tanoiblè fixd a%5éts Cost At I Wl 2024 5.530 At 31 Mafch 2025 5.530 D•pr•¢iakn and inpainnenf At l A1 2D24 DprÈts3tsopI charged year 2.547 1.100 At 31 Warch 2025 3.653 Carryin¥ amoutrt At 31 klarch 2025 1.877 At 31 Mirth 2024 2.fr82 14 Fix•d asset in¥eslments Srnsln cc Tolal Chèvio¢ Qublt•r Valualion A1 31 March 202 AddibDns V•iuion canqes Man4grner¥t fees and other n casb rnowpmems Transfers gLrt 5pos5 23.573.OOD 23,573 24.YO.080 (225.443) 12.101,270 105.5831 11.W.810 1449.5841 28D.724 345.4 1150,0001 345.498 1472.0081 124,910.886Tr 27.032 123.8èf•.81fll 11,020A7DI {351J.fXKI} At31 2025 11.514,817 11.145.22e 22,815.541 Cafryiry 1n¢ At 31 lljxch 2025 11.514,817 11. 145.220 195.408 22.855.$41 At 31 Itaf¢tt 2024 23.573.000 23.573.De4) Flxed a55el invesbswnt5 re¥ahd The Qudter C¥1$ Iisid Investrments 4r¢ 51vwn at the rNI as prov%led by Inrx¥• Dala IEuropi ¢r the last clogng dealng pr a5 at ba147n¢ sttetl dare CCLA IA¥•sthients Jre shcthm at the Ouoiea dJily uni pnce. The his¢ C4>51 thv•strnents QvAEer Is £17.OQ8.645 and CC £11 594.810 17024. Th•rth•r t¢•bJl. 30
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14 Fixod assèt invèstrnurts IContiTrudl Dumg 2024 th• portf¢4 was splii b•M••n Qwher Che¥1 and CCLA. The Quiller CheYt portrth is in¥ested in a TaFye ofèq¢Jrti•s •nd bond5. At the 315t March ?$ the porfglvJ a55et alloc&bon wa5 a5 Fixed Inujmt Eguib5 19.04% 88 84% 1.05% 8.07% 320% Arnat• Assws Ltwid A55•ts The CCLA port11¢ 15 In 4 rang• ol •quib"es and bonds. At th 31s1 Mar¢h 2024 Ihe ponfyllo Jsset alktaw) was as kn11 Fi¥ed Ir•co 090% e352 4.53 13.00 Property L1¢1 Ass•ts 10096 Deta115 of thè IAvstmMt lLe$ and perforrnafe Jtong With risk m•nagem•nt poFicy &r• coniJind In the trustees. Teport The chanty seeks to minirnt5è njks of holding inv+5ttS, which compn5e mainly market. yield Jnd hqui¢ity n5ks. throy9h apPotT ol an In¢J+pendent Invstm•nt M3n4g•rs. who Inv•s1 a mmon InsIMni funds specsfically tsilored for ch3ritrè5 01 th15 n4ture or dire¢t hol4in95 Iri 4 diwr5ified portloho. IS Debtorn 2025 X124 122.679 1.407 400 1.414 174.088 1.814
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 16 Crediiws. Do¢S laNing wilh•n year 2tr24 Other ramatn and 5rthil sewy Tra£le co0ty5 A¢tw15 ano deterred 2,151 3739 175.00 1,Ig8 187.847 171,330 181.Llg0 Gfan:s p)yabk c(oi¢ain$ £ 183.358 al w1twdrt%Jj commthd yants 1?024 È170.5441 &rrts * the ¥alve 0¢ -1.533 IW24 £1 417,8451 have t>èen 33rdel thich bre SubCl w iJxdiiÉ>ns yd x+ bé the 17 Retirtmwrt bertrfrt s¢hmès 2024 Charge ro profit or 1055 In respe¢t crf defined 5¢heffl•s 1.gfj3 Tbe charity opef3tès J defined COntru¢l0n pen51oft s¢hem for 1 qu$ifyry ernpwes The a55ts 01 scherne 3rè hèld sep3r3rety thos o! th th3r¢y indeFndenty athTh51efed fuod l• Ansls of n•t assets between fvnds UNStyi¢¢tr¢l Er•dom•rt fund5 2025 Totsi Unrestncteo ETrOy•rnI thmd5 runds 2024 2024 Txal 2D24 Fund b•i)¢es are Tangible a$5e In¥ésvné Currèni a,1abill&'•51 1.877 1,877 23.780.291 21855.541 32Q.641 2.982 23.873,080 23,573.000 284.401 329.041 284.401 331.518 23.780.291 23. 187.059 287.3e3 23,573.0111 23,801J.443 32
TheTriangleTn NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 19 Operating lease commilmnts Ai the r•poth9 dat thè canty had t%nding ¢¢ynmArTrEnts for Trwnimum p)ym•nts r•lJbng IO the offi1 lèase. lall due as fDIIos". 2025 2024 Wthin rm ar 334 334 Rwnune¥atk>n ol k•y managemnt person1 The ¢rlin of key Mar9m+nI P•1 was ag fokn•5.' 2025 2024 Aguwalp wmpensal 81.054 73.1QO Agortya cln531K>n 60S gross salary and •ll •wJtoy• ?fitS indudin9 mployerf5 naIn31 Insurall liatiiNIi• Oetat15 01 tnt5tw xp•n5e5 are diwk>sed in 8. There ¥rtr no other irJn5xtsons Mv019 rlated partes. 21 ATh•ly5is ol ¢h•nys In Mt funds The had no m•t•ri41 d•bt during lh year. Cash g•n•tatd from op•rntitins 2025 2024 IW¢>tthWis lorthe y1 1675.093 1.3C4,1fr1 Adju51ments fvr.. Invèstmenl income recoJnised in slatemÈnt of fa¢SaI aar¥tseS Foreign exthan9o differnnc5 Ga on diswsal of inv•sth)•nts F•'r ¥alu• gn5 and los$ (m Y•V•5trMnts r(iakn and iTrwaThenl oftangible fixe¢l assets 1848.4841 1.708 1418.8801 W.323 1.100 1720.4851 11.743.0191 1.008 Mov•m•nts in lInEaseYdeCrase In d•btors IDe(xea5evinj5e in cr•drt 1122.2721 19.78DI 808 11.425.352) 11. 140.9701 33