24-202 Trustees, Report & Financial Statements fashion& textile children trust. for the year ending June 2025 A for familkno afjnce 1 FASHION & TEXTILE CHILDREN'S TRUST REFERENCE AND ADMINISTRATIVE DEfAILS Name.. The Fashion & Te￿ile Children's Tnjst Registered Charity Numter. 257136 (England and Vvales) 44 Southampton Buildings, London WC2A 1AP E-mail.. Website.. Telephone.. Principal Office.. anna@ftct.org.uk ww.ftcl.org.uk O300-123-￿o2 1 M.. 07753 605367 Trustees al 30 June 2025.. Jusb'n Hampshi￿, (Chair of Trustees) - ￿p￿t•d 2211012025 GfOUP Chief Exec TFG Brands London Mike Trotman, (Chair. Finance Committee} Fomer CFO Tom Dixon Group David Shepherd. Icases Committee) Fonner COO Trading, Arcadia Ryan B￿ker, Managing Director, UK Visual Immerston Robert Bready, Freelance Execub've Consultant Anne Secunda. Execubve Consultant Phil Cooke, Fom*r Chief Product Officer, River Island Alia Gerar Icases Committee), Scaling & Investrnent Partner Andrffiv Wco¢Jward, NED l Board Advisor I Fom)er Ch￿f Marketing Offi¢er. HUSH Ann Campbell, Inteiim and contract senior cA)mmunicat￿n$. Trustee l NED l Mentor. Chief Execulwe.. Anna Pangboume Bankers. 8ardays Business 1 * Floor, 27 Soho Square London W103QR Solicitors.. FieldFisher RNerbank House 2, Swan Lane London EC4R 3 Auditors.. Saffery LLP Westpoint Peterb)rough Bu*r￿sS Park Lynch Wood PetertK)rough PE2 6FZ InvestwEnl Managers.. Quilter Cheviol Investment Management Senator House, 85 Queen Victorkg Street, London. EC4V 4AB FASHION & TEKtILE CHILDREN'S TRUST CONTENTS Page Chair's Statement Tnjslees, re 3-11 Independent auditors. report 12-14 Slalement of financial a¢tNities 15 Balan￿ sheet 16 Noles to the financial statements 17-28 Comparative slatement of financial activities 29 FASHION & TEMILE CHILDREN'STrUST CHAIR'S STATEMENT FOR THE YEAR ENDED 30 JUNE 2025 l am delighted lo Introdu￿ the Annual Report and Accounts for 2025. {￿eT the past year, Fashion & Texb'le Children's Trust IFfcTI has continued lo deliver vital financial support lo 783 children, distributing £386,269 to families workn.ng in the Brits"sh fashion and textile industry, across the UK. These grants were a lrfeline for many. helping them navigate severe financial hardship brought on by sudden challenges suth as bereavemenL illness, or the breakdown of relab'onships. ￿en these challenges finanaally impact the wellbeing of the children in the family. OLtr grants play a vital role in helping the parent to cover the cost of essentsal itenL%. Grants may cover mobility equipment for a child, ensunng they can fvlly access both school and home, as well as specialist equipment like a hoisl for Ihose wth limited mobility. Support can also include essentsal items such as school uniforms. PE kits. bedroom fvmiture, and study resources like a laptop. Families across the industry conb"nu8 lo face tough circumstsnces. We saw a growing number needing urgent support to rebuild their lives after b•ng rehoused-often due lo domestic abuse or family breakdown. Al the same li￿￿, personal debt for many of the families we support remains high, with costly day-to-day items such as food, utility bills and rent, deepening the finanaal strain on already vulnerable households. A grant from FTCT ¢an be translomiational As one parent told FTCT.. 'If I hadi't app116d. I W￿ld hAVS still s+rufjfjlcd *) w)y childrc4 clDthes. et¢. I W￿[4 have y%lf drow￿1￿9 IM Mbr6 J¢bt m¢brtAI h64Fth durI￿lm3. It r&illy was lift ¢haM91119.- As the only UK charity dedicated solely lo supporting parents in the UK fashion and l$Ktile sector. FTCT Is proud lo serve as a safety nel when faMil￿S need il most. But we can't do il alone. Our ability lo keep delivenng this essential help depends on the backing of the very Industy we setwe. Wih continued Investment from companies across the sector, we can ensure iheir employees and families don't face life's loughesl moments alone. Our Business Plan, which incorporates our Strategy to reath frarnilies in our sector, is available lo view on our website. Please click here t view. one furlher year remaining of our five-year strategy 2021-2026, plans are underway lo devise our next strategy 2026-2031. Our Vlslon.. We believe no chikl shouki have to live without th8 essential rtems they need lo thrive. Our Ml$8lon: To provide finan￿al grants to supp)rt the children of UK fashion and textile families, improving their wellbeing. Our strateglc direction l*: To take an innovative approach to extending the lifespan of the Charity and continue to help families cope during Challenging b'mes. Our three key focus areas lo support our strategic direction are." Children and FamIl￿s. Financial Sustsinability and OFerational Excellence. The success of our strategy ￿lieS heavity on financial support from the industy By end of OUT financial year 2026. we aim lo have awarded £1.86 million in grants over a five-year period. supporting just over 3,960 children. We are ambibous in our goal lo raise £686.282 in donations. representing a 103Yc increase from our last strategic period. In the last financial year, follo￿n9 the implementatson of our fundraising strategy, we successfully raised £158K. ile our fvndrai&ng strategy conts'nues lo y￿d r•)sib"ve ￿$￿115. we are not complacent and in the current climate ￿COgnise the continued need to build awareness of the chanty across the sector lo grow the number of companies we work with. Equally important is the relentson of our valued and long- standing Partners. By working in partnership wlh FTCT. companies act as the critical link, enabling FTCT to reach indu5ty families who may have exhausted all other means of support. Page I FASHION & TEXTILE CHILDREN'S TRUST CHAIR'S STATEMENT lcontinuedl FOR THE YEAR ENDED 30 JUNE 2025 As stewards of the Charity, we remain firmly committed to seThing the best interests of the families who rely on us now-and those who may need our help in the future. Every pound raised diredy benefits the families we support, and each grant awarded has a meaningfvl. often life-changing impact. After 8 years in service as Chair for the Fashion & Textile Chiklren's Trust, I will be stepping down in October 2025. Having had the privilege of serving in this roie. I can't speak highly enough of the incredible work that FTCT does to SUPPOrt the families of those that work in our sector. With a dynamic Board of Trustees and passionate team, I have no doubl that the charity will go from strength lo strength, I would also like to lake thi5 OPPOrtunty to welcome our new Chair. Jusbn Hampshire, who wll be joining the charity in October 2025. 1 wish him every su￿ss. My appreciats.on goes to our execub.ve anij operabonal teams, whose dedicalion and hard work drive everything we do. I'd like to expTess my heartfelt thanks to our Board of Trustees for their unwavering supwrt. guidance, and the generous bme they have deduted to the tharity. over the last 8 years. Finally, 8 sincere thank you to the growing number of ¢ompanies across the Britssh fashion ar￿ textile sector who continue to work in partnership with FTCT- we're In￿edIblY proud to partner with you. Chair of Trustees during the reporting year. Mike Taylor Signed on behalf of the Board of Trustees by.. Mike Trobnan Dale.. 10 February 2026 Page 2 FASHION & TEXTILE CHILDREN'S TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2025 The TrLtstees present their report along with the financial slalements of the Charity for Ihe year ended 30 June 2025. The financial statements have been p￿Pared in accordance with the accountsng policies set out on pages 17 to 21 and compty vjith the Charity's Trust Deed and applicable law. INTRODUCTION The Fashion & Texiile Children's Trust IFTCT) is the only trade charity dedicated lo supporting the children of those working in the Brit￿h fashion and textile industry. Financial difficulties can affect anyone al any time, regardles$ of their job. An unexpected change in circum$lances al home can suddenly make il exceptionally challenging for a parent to provide essentsal items fof their child. who may already be stwggling to wver rent. food. utslity and couwl tax bills. From our daily conVersal￿S with parents. we undeTrtand that ecor￿￿ strain not only impacts children's access to adequate clothing. bedroom fvmiture. and school essentials but also increases the risk of mental stress for parents striving to meet their family's bagc needs. As finanaal pressures grow, the strain on mental wellbeing becomes MO￿ evident. leading lo anxiety. stress, and depression emerging as a result. Home and WO￿ life are inextricably linked.. financial pressuos al home can undoubtedly have an impact on a parent's performance at Wofk,. leading to absentegism and potentrally leaving the company allogelher. FTCT is al the heart of the UK fashion and texknle sector, and the parents and carers who work in this sector a￿ central lo the day-to-day business acb'vilies. ￿ether on the shop floor of a fashion retsiler, al a textile manufacturer, a distribution cenlre, or a texiile care company, we $lnve lo buikl a reputation as a charity that is family friendly, listens, is empalhekn"¢. non-judgemental, kind, and fair, from the first enquiry through lo the outcome. As a small team. we tske immense pride in encouraging families to take the first step, always 'going the extra mile, throughout. Working wth each family on a case-by-case basis to guide Ihem through each stage and achieve a posibve outcome. Our Horltago: The Fashion & Textile Children's Twst IFTCTI was founded in 1853, dunng a thriving era for Britain's silk 8nd ¢otton weaving industry. In 1856, Charles Dickens served as Chairman of Appeal-a role comparabl6 to today's celebrity ambassador. ther the past 170 years. as the industry has evolved. so loo has FTCT. Today. we support children whose parents work across the fvll spectrum of fashion and lextile-related roles-from warehouses and shop ftoors lo design studios and factories. ￿heneVer a parent is Struggling to afford their child's ba￿¢ needs, We'￿ here to help. Organlutlonll PurpoBe: The sole purpose of our Charity is to provide grants- a financial. non-repayable contribution- lo families who work, or have previously worked. in the British faSh￿n and textile industy. Our grants are not a loan and similarly do not affect the benefits a parent receives. Addibonally, there is no charge or membership lee to a company who works in partnership ￿th our Chanty. Typically, our grants cover the cost of essentsal items and speoalist items for their child (up to 18yrsl and are considered when circumstances have changed at home or when ongoing silualion$, e.g. illness or disability mean that a parent is unable to allord the Items their child needs. As part of the application process, we ask the parent lo provide finanaal informats"on. ensuring that we have a full understanding of home circumstances and that grants awarded are to those most in need. OncE a grant 1$ awarded, all receipts for grant items purchased must be returned within four weeks Pa8e 3 FASHION & TEXTILE CHILDREN'S TRUST TRUSTEES, REPORT Icontinuedl FOR THE YEAR ENDED 30 JUNE 2025 Review of the Year- Strnteglc Activities This year, we awarded £386.269 in grants to support 783 children, significantly enhancing their opportunities and wellbeing. ￿)lle the numbers of new grants were slightly lower than last year, the impa was still meaningful., reaching those who needed it most, al a b'me of acute need. The key focus of this year has been the continued implementstion of our fve-year Business Plan 2021- 2026- now in ils final year- alongside the four enabling strategic projects. Our overall Strategic Direction is to take an inrK)vative approach to conb.nue to help families cope during challenging times. Three strategic aims were devised to support our strategic dI￿tion.. Children and Families We aim lo grow the number of children we support lo extend the impact our grants give lo the lives of UK children To do this, we will maintain our grants awarded figure dose to the amount given in the previous strategy period. Financial Sustainability We are ambib.ous in our fundraising targets and aim to fvnd the growth in children supported with a higher proFL)rtion of fundraising income. safeguarding the Charity for fvrture generations. Operational Excellence We a￿ determined to improve the levd of seThice we deliver and aim lo modefnise our processes by embracing digitsl Iransforffots"on, through cloud-based services and automated procedures. For further informab'on at*)Ut our Strategic Obpclives. lease visit our website as here. During the fourth and penultimate year of our strategy, we have successfvlly undertaken the following three strategic projKI5". Children and Famllles: We're improwng h¢Jw families apply for support by rnaking our service more digital and personalised. New features Include automated email updates, dearer website guHYance, and better data insights through our CRM system. Financial Sustainabili We have continued to enhance our fundraising strategy, s￿￿$SfullY collaborating with an In¢￿asIng number of partners lo boost sectOr-w￿e support. Our efforts span four main donor bases.. Corporate, Events, Individuals. and Trusts and Foundations. with a primary focus on Corporates. We are proud to be partnering with 30 organisations {up from 20 in 20231241, all of whom promote our grants and contribute annual donations. Additionally. we have strengthened our two annual fundraising campaigns.. the Back-t￿SchC￿l Campaign and the Wnter Appeal. rational Excellence: Thanks to the ongoing growth of our corporale partners and the resulting increase in a steadier stream of enquiries, we have been able lo reduce the need to use social media advertising to boost enquiries when the pipeline is low We also implemented a number of email automations lo help with re-inviling pastapplicanls and retArgeb"ng those who dropped out at enquiry stage, to b0051 enquiries. All of these tacbcs led to convergon efficienc￿. Page 4 FASHION & TExfiLE CHILDREN'S TRUST TRUSTEES, REPORT {continued) FOR THE YEAR ENDED 30 JUNE 2025 Grants Achievement and Perfornmnce The chart and table below pre*nt the nel amount of new grants approved in 202412025, after deducts'ng refvnds and cancellats.ons of grants CCKnm￿ed in previous years.. New Grants Approved 2024125 £8.865_ É28.6ZO £14,870 £6,170 Finafitial Hardship Special Needs & Illness £29.005 £1￿470 £29.710 Housing se￿ratIon • Disability Domestic Abuse £81 Mental Health Redunda*cy . BereavemEllt 14v• Grants od 2024125 £150,470 £81,644 £36,915 £29.710 £29.005 £28,620 £14.870 £8.865 £6.170 Numb•r of % Total B•noficlarl8• 43.93% 19.54¥0 7.41% 8.940 Financial Hardship Special Needs & Illness Housing Separation Disability Domestic Abuse Mental Health Redundancy Bereavement Total R•elp 21.14% 9.56% 7.68% 7.510 7.41% 3.850 2_300 1.600/0 153 70 50 25 17 12 6.39Vo 3.19° 2.17Vo 1.530 As shown in the table atrx)ve and illustrated below. 71% of FTCT grants approved were for children affected by parental circumstances, such as financial hardship. redurKlancy. mental health. domestic violence or bereavement to support with essential items such as dothing. sclKol unifonn, bedroom fumiture, appliances and home items arKI more. 29Qfi of FTCT grants were for children with special needs or disabiltb"es. Typicalty, grants were for extra tuition, speech and language therapy. speu'alisl equipment, leaming adaplabons, occupational therapy, laptops to support leaming and essential thild ￿ modificats.ons to the family hcffie. FTCT continues to help familEs navigate challenging tiffes. Using current n8￿nal statistics for the number of children living in povety arkl the number of people employed by the sector, this indicates we are onty reaching a fraction of our potentsal beneficiary audience, meaning that the true number of beneficiaries eligible for our grants far exceeds the resourtss we have available. P38e 5 FASHION & TEXTILE CHILDREN'S TRUST TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 JUNE 2025 By working in partnership with the sector, we (xn ensure we reach employees whose families are facing finanoal hardship in our sector. As a trade specific charity, our grants can only be awarded to those who currently work in the industry or have previously worked within the last nine years, providing that they have worked for a minimum of one year. The children in the farnity must be aged t*tsveen o- 18 years. Grants typically provided by ￿CT include". Essential items Cloth1n and shoes. inc school uniforns and PE Kit Children's bedroom furniture l Beddin Wnile oods frid e, cwker and washin Essential household items Stud Essentials- Tablets l La to ialist items Mobili ui ment Senso Thera Re ite activikn.es ialist dothin lo machine s etc. During the lasl 12 months, many families contr.nue to be impacted by the cosl-of-living crisis. Kathryn, a parent who works at NEXT was re￿nlly awarded a grant told FTCT". ¢o-workcr re¢Offt￿ewdQI FTCT really helped m¢. Th6 prtscess sim* Jbld I w&$ th¢ 4rJbi+ +1th6. r* m4 thildrem 0(￿1d a fresh a saft bed +0 $166p Ih. Both me Ghildrem happicr with hslp w¢ rucivd- The FTCT team and Board of Trustees remain o)mmitted lo significanUy increasing Ihe number of chIld￿n we assist, to support families who work in our industry and as a fesult of our strategic direth"on. FTCT Fundralsing and Outrgach Carnpaign 2024125 Promotion continued across the Bntish fashion and textile sector wlh many of our long-established industry partners including NEXT. John Lewis Partnership. M&S and Boden as well as textile core companies including CLEAN, Aberdeen Laundry and Johnsons Hotel Linen. Our Working TogetherAgreement IwrA} ￿n￿n￿e$ to provide a dearframeworkforall ofour Partnerships. Our ask is two fold". for companies to both promote our grants to employees and invest in our services. We continue lo work in pathership with a strong portfolio of companies induding Ralph Lauren, New Look, Charles Tyrwhitt. BTMA. Kannegiesser and Abraham Moon. We a￿ also delighted lo have welcomed new Partners, including Kurt Geiger, John Smedley KnIfv￿ar, The Linen Group and Elis. Our thanks also lo Snow White Laundries. Christeyns. LLUK. SATCOL. Interweave, Society of Hospital Linen servi￿ and Laundry Managefs ISHLSLM}, Microndean, Jacksons, Salisbury Lirien SerV￿e$ and Kannegiesser. Our deep appreryab.on also to our supporb.ng trade t*)dies". UKFT and the Nab"onal Laundry Group. Many of our Partners Icok part in our Wnter Appeal, Dec 24 and Back To School Campaign, July 24 and raised £16,688 and £3,566 respectively. For the second Wnter Campaign over 14 Partners took part, our highest number of Corporate participants, a trend we hope to continue to build on year-on-year. Our new animated video was launched in Spring 2025, prowding an updated visual overview of our grants and how lo apply. Both comprehensive and friendly. this is intended to encourage families to gel in touch. We constantly strive to ensure that our service is acCeS￿bIe". following discussion with our SLS one of our Partner companie5. our FTCT materials were translated into ￿ drfferenl languages In working with other Partner companies, this has grtrwn to over 10 translated languages. Page 6 FASHION & TE￿ILE CHILDREN'S TRUST TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 30 JUNE 2025 Complementing this provision. we are also pleased to share that FTCT will be working with Language Line. a live translab.on service, enabling the parent lo S￿ak in their first language, to ensure they have a full understanding of the grant support available. Vve We￿ also delighted to work in parts)er5hip textile oynpany VIS￿ Linen as part of our ￿'nter Appeal, Dec 24. Throughout December, families re¢eiving a grant from FfcT We￿ offered free Vision Linen bedding bundles, redeemable wrth a unique code. Stskeholder su rt: We are proud lo conbnue lo be the official or3￿r$, Charity Partner al the three Drapers Awards Ceremonies held throughout the year. raising just over £11,OC4). Attended by nearfy 1,000 representslives from the sector, this is a unique OPFQrtunity lo raise awareness. fundraise and continue lo strengthen our netsvork FTCT would like to thank Jill Geoghan, Edilof for her ongoing support. Next year. Drapers will be consolidating their award events lo hvo. the Drapers Awards in November 2025 and Draters Consoous Awards, Spring 2026. T xtile Se lor Our ¢ontinued charity partnership with UKFT (UK Fash￿￿ and Texts"le Assoaats'onl has helped lo raise further awareness and finanaal support. UKFT organised their second Christmas Prize Oraw on tehalf of FTCT Our ongoing thanks to Adam Mansell, CEO and all the team al UKFT. LQLLLlor We also extend our gratitude lo Cha￿le Betteridge, fomRr Master of the Worshipfijl Company of Launderers, who ￿"ndlY selected FTCT as his chosen charity during his year of Service, on behall of the Launderers. Our *ncere thanks also lo Alastair McR&. NalirAbal Laundry Group for choosing FTCT a$ their chosen charity for the fifth year iunning al their AnnL￿1 Dinner. We are also deeply gralefijl lo Jason Kent. CEO of the Britssh Textsle Machinery Association IBTMAI for selecting FTCT as their C￿Sen charity for the first tsme al their Annual Dinner, Manchester. Public Benofit ststgmont The Trustees confirm that they have Compl￿ wth the duty in secbon 4 of the Charities Act 2Cx)6 to have due ￿gard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit,. Our charitsble objeth"ves, as set out in our Trust Deed dated 1968. focus on the ￿lief of poverty and support of education among children of any persons presenlty or formedy employed in the textile and allied trades. Today, we reflect these objectives by providing grants for everyday items to support a child's health and wellbeing. from school uniform and essential clothing lo largerfvmiture items and specialist equipment. Our grants help to relieve financial pressure on families during challenging limes. while making sure children have everything they need to thrive. Page 7 FASHION & TEXTILE CHILDREN'S TRUST TRUSTEES, REPORT Icontinuedl FOR THE YEAR ENDED 30 JUNE 2025 FINANCIAL REVIEW This yearfs financial perfOrn￿n￿ reflects deliberate strategic management of our assets and disciplined cost control, despite challenges in Spe0f￿ revenue streams. Total income for the year was £402.152. marknng a 5.7% decrease ¢xJmpared to £426,572 received in the prior year. This decrease was consciousty offset by proactive spending adjustments. as total expenditure was Suc￿ssfUllY contsined at £827,341. 8 2.4% reduction trom the previous yea¢s spend of £848,036. The decline in total incnme was primarily due to factors. Returns from securtties saw a moderate 2.90 drop. This outcome is a direct and Strategic Consequen￿ of the ongoing. measured transition lo rebalance the capital base mix of our Investment fund portfolio. This pro￿$$ is essential for aligning our fund structure with the Board-adopted lot81 returns policy, ensuring long-teryn financial stabilty and growth potential. The temporary reduction in returns is thus a ne￿$sary step in athieving Ihis strategic goal. Separately. incA)me frorn donab.ons and fundraising experienced a 9.8% decrease, falling from £175,364 to £158,221. This shortfall reflecls spe￿￿ ehallenges, mainly stemming from lower retums in Corporatelcommunity donations. coupled wtth a slighlly smaller underFerfomiance from Corporatellndividual events We are actsvely reviewing our ftjndraising strategie5 to strengthen performance in these key donor se9￿Ents rnoving fo￿rd. Our totsl expenditure was reduced by 2.4% year-on-year, demonstrab.ng a contsnu&J commitment to fiscal discipline This strategic saving was mainly achieved through targeted adjustsments to our strategic grants programme and a careful management of organisational development activities. By priorilising spending, we ensure that resources are directed lowar(J actNities that deliver Ma￿MuM impact and align preasely with our mission and strategic objectives. Overall, the organisation maintained strong fiscal stewardship. ￿lIe revenue fa￿d hea￿1ndS from a planned investment transition and fundraising challenges. exrEnditures were lighdy controlled. We remain focused on capitalising on the long-term benefits of the rebalanced investrmenl strategy and implementing robust measure$ to enhance our fundrai￿n9 revenue in the coming perKMJ. Investment Policy and PerfomMn¢e The Trustees appoint Investment Managers and delegate to them power at their discretion to buy and sell investments securities on their behalf in accordan￿ the investment wlicy laid down by the Trustees. The Trust's investments are managed on a discretionary basis by Quilter ChevioL The Trustee5 have adopted a total relum policy, with an investment objective of achieving long-term capital growth lo the value of the portfolio, as well as generating agreed income levels through diversified funds and individual holdings in fixed income stocks, equities, allernatsve Investments and cash. Historically, the emphasis had focused on income generatson. The Trusfs risk appets.te remains mediurn, limib.ng equity exposure lo a maximum of 75% of the portfolio. allowing the fund to ac￿pt a mrxlerate variation or disruption to capital value or cu￿ent income in order to rn&t the Charity's longer-lerm objectsves. Ethical and Responsible Investment The Trust Intentionally applies responsible-invesfftnl prinoples to guide and influence its investment strategy Environmentsl, social and governan￿ {ESGI criteria are a sel of standards for an organisation that socially conscious investors. suth as our tharity. Con￿derS when reviewing their investments. Environmental Criteria consider how an organisation perfomis as a steward of nature. Pa8e 8 FASHION & TEXtILE CHILDREN'S TRUST TRUSTEES, REPORT Icontinuedl FOR THE YEAR ENDED 30 JUNE 2025 Social criteria examines how it manages relationships with employees, suppliers, customers. and the communities where it operates. Governan￿ deals wth organisalion's lealership. executive pay. audits, inlemal controls, and shareholder rights. Therefore. the investrnent managers are expected to tske account of ESG issues in their investrnenl analysis and deawn-makn.ng pr￿sseS and engage with company management when appropriate. The Managers send through, quartety. a specific report covering ESG issues encountered during the period. The Investsnenl Manager has categorised the Charity's responsible investment preference is 'Aware'. which means that the aim is lo optimise finanryal returns for the given level of nsk level, believing that lo achieve this being aware of environmental, swal and govemance factors are important inputs. The total inccmne from the Trusys investrment FQrtfolio stood al £243.931 compared to the previous yearfs total of £251,208 as the portfolio's income bias ha5 been reduced. During the year lo 30 June 2025 allowing for capital withdrawals induding fees during the year, the portfolio decline by 0. 1% In capital terms and generated an income return of 3.50A, $0 overall a net increase of 3.40A. This compared to an increase in the benchmark. the MSCI PIMFA Balanced Index of 7.O¥o and the Asset Risk Consultants IARCI Charity Steady Growth Index of 4.3%. On a rolling 5-year basis, the portfolio has deltvered a comkKJund net total retum of 39.0%. against 40.0¥0 for the benchmark and 31.1% for the ARC Charity Steady Grthvth Index. The Finan￿ Committee continues lo monitor the 8th"vrties of the portlolio Managers and is satssfied with Quilter Cheviot's long term perfomance. Reseryes pollcy The Trustees, policy is to distribute the ino)me frorn investsments and other source5 to meet charitable demands, whilst optimising Djnning costs and protecting the capital base to ensure that the Trust is able to meet all future charitable needs. In 2024125 the Sum of£395.935 was deducted from reserves12023124'. £202,390 was added to reserves), mainty due to a £595.234 combined overall reduction in realised and unrealised gains on investment assets compared to the prior year. Totsl unrestn.ded income funds have remained at £0 {2022." £0) these funds were designated lo fvlfil commitments already made lo supwrt children's educab.onal needs. These commitments were finalty discharged in June 2022. These commitments were eondib.onal based on an annual review addressin9 the prcoress of the child concerned and any changes in the grants to SUPFQrt educational needs or in the finanaal situation of the parents. Dependent upon this. the grant was either continued at the prewous level or Increased Iproviding evidence is shown). In line with the Board's direth.ve as from 1 July 2019. no ftjrther conlributsons will be considered for these types of grants. Total endowment fvnds amount to £7,￿3,925{2o24.' £7.459.860) all of which relates lo the expendable endowment fvnd. STRUCTURE, GOVERNANCE AND MANAGEMENT The principal aijdresses and details of professional advisers are induded in the information sheet al the front of these accounts. Page 9 FASHION & TEThLE CHILDREN'STRUST TRUSTEES. REPORT Iconlinuedl FOR THE YEAR ENDED 30 JUNE 2025 Governing Documont The TNst is constituted under a Dedaration of Trust, dated 23 Seplember 1968, a￿Ended by Charity Commission Scheme 214 Isl sealed 18 De￿mber 1995. Appolntment of Trustees The Tnjsl Deed of 1￿8 requires a minimum of four and a maximum of eighteen Trustees. Trustees are invited to join the Board", preference is given to those who are currentty employed in senior positions in the fashion and textile. retail and manufacturing Industy. TDJSt￿. excluding the Chair, are elected by a resolution of the Trustees and serve for a peri(xJ of four years after which they can be re-elected. The Chair is elected by the Tnjstees and seryes for a period of three years and a Ma￿MuM of six years in the event of reelection. Induction and Training Each prospective Tnjstee meets with the Chief Execulive, Chair and Trustee representative and attends a Trustee Meeting in advance of their appointrnent being confirmed. In De￿rnber last year, four Truslees were successfully recruited to join the Board." Ann Campbell, Alia Gerar, Andrew Woodward and Phil Cooke. Each concluded an in4epth inducb'on. whid) induded details of the Charity, our Tru51 Deed, legal responsibilities and the latest governan￿ information produced by the Charity Commission. Organisation The Charity is govemed by a Board of eleven Trustee5. operats.ng under the day-to-day management of the Chief Executive and team. The Trustees bek)w all held office from 1 JLtly 2024 to 30 June 2025.. Mike Taylor, Ichair of Trustees). ComnErcial Director, Brib'sh Heart Foundation - Resigned 22110r202S Justin Hampshire, (Chair of Trustees), Group Chief Exec TFG Brands London - Appointed 2211012025 Mike Trotman, (Chair, Finan￿ Committee) Fom*r CFO. Tom Dixon Group David Shepherd, Former COO Trading, Arcadia Ryan Becker, Managing Director, UK Visual Immersion Vanessa Elias, Managing Director, CVUK- Resigned 1810812025 Robert Bready. Freelance Executive Consultant Anne Secunda, Executive Consultant Phil Cooke. Former Chief Product Officer. River Island Alia Gerar, (Cases Cornmitteel, Scaling & Invesbnenl Pathef Andrew Woodward, Forff*f Chief Marketing Officer, HUSH Ann Campbell, Interim and contract senior communicabons. Trustee l NED l Mentor There are tsvo sutFcommittees.' Finance Committee (Chair, Finance Committee Mike Trotrnan and Chair. ￿cT, Mike Taylor) are responsible for the monitoring and control of lotsl income, expenditu￿ and for supervision of the Accounts. The p*rformance of Quilter Cheviot is r￿nitored by the Finan￿ Committee. Th Committ is responsible for assessing applications and reviewing applicats.ons for grant$ of over £750 per child. submitted by the Grants Team. There are currendy three members of the Cases Committee. David Shepherd, Vanessa Elias and Ala Gerar, Trustee5. Nominations Committee.. For the purpose of recruibng a Chair for our charity, the following Trustees will be supporting throughout the process". David Shepherd. Alia Gerar. Mike Trotman, Ryan Becker, Anne Secunda and Phil Cooke. Page 10 FASHION & TEKfiLE CHILDREN'S TRUST TRUSTEES, REPORT Icontinuedl FOR THE YEAR ENDED 30 JUNE 2025 TRUSTEES, RESPONSIBILMES IN RELATION TO FINANCIAL STATEMENTS The Charity's Trustees are responsibb for preparing the Twstee's Annual Report and ffnanaal statements in accordance with applicable law and United Kingdom Accounting Standards (Generally A¢￿pIed Accounting Practice). The law applicabÈ lo Charities In England and Wales requires the Trustees to prepare finanLial ststemenls for each financial year which give a true and fair view of the slate of affairs of the Charity and the incoming resources and applicab.on of resour￿$ of the Charity for that period. In preparing these finanual statements. the Tnjslees are required to.. select suitable accounting poliues and apply them consistenuy. observe the methods and principles in the Charities SORP., make judgments. and esb"mates that are reasonable and pwdentr, stale whether applicable accounting standards have been followed, subied to any departures disclosed and explained in the financial ststernents Prepare the financial stslements on the going concern basis unless il is inappropnate lo p￿sume that the Charity wll continue in operation. The Trustees are respjnsible for keepirrfj proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements Comply with the Charities Act 2011. the Charity IAc¢x>unls and Rep)rtsl Regulations 2008 and the provisions of the Twst Deed. The Trustees are also responsible for safeguarding the assets of the Charity and hence for tsking reasonable steps for the prevenbon and detection of fraud and other irregularities. This Annual Report was approved by the Trustees on 10 February 2026 and signed on their behalf by.. Chair of Trustees during the reportj'ng year. Mike Taylor Signed on behalf of the Board of Trustees by." Mike Trotman Date.. 10 February 2026 Page 11 FASHION & TEXTILE CHILDREN'S TRUST INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE FASHION & TEXTILE CHILDREN'S TRUST Opinion We have audited the financial staternenls of Fashion & Textile Children's TnJst for the year ended 30 June 2025 which comprise statement of finanaal acb"vib"es, balance sheet and notes lo the financial statements, indudin9 significant accounknng policies. The financial reporting framework that has been applied in their preparation Is applicable law and United lQ"ngdom Ac£ountsng Standards. including Financial Reporting Standard 102, the Financsal Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practi￿1. In our opinion the financial statements-. give a true and fair view of the state of the charity's affairs as at 30 June 2025 and of its incnming resources and applicab.on of resources for the year then ended," have been propedy prepared in ¥cordance with United lfjngdom Generally Accepted A¢¢ounting Practice.. and have ￿en preparèj in xcordance with the requirement5 of the Charities Act 2011. Basis for opinio We conducted our audit in accordance with 1nlernab.onal Standards on Auditing {UKI IISAS IUKII and applicable law. Our reS￿nSIbilI￿"eS under those standards are further described in the Auditols Tesponsibilities for the audit of the financial statements section of our reporL We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fvlfilled our other ethical re5ponsibililies in accordance with these requifements. We t*lieve thal the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going eoneern In auditsng the financial ststements. we have conduded that the trustees, use of the going concem basis of accounting in the preparab'on of the financial statements is appropriate. Based on the work we have perf0M￿d. we have not identified any material Un￿rtaIntieS relating lo events or conditions that, individually or collectively, may east significant doubt on the charity's ability to continue as a going concem for a period of at least ￿e1ve months from when the financial statements are authorised for issue. Our responsibilits'es and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Other information The trustees are responsible for Ihe other infonnation. The other infomialion comprises the infomialion included in the annual report. other than the financial 5taternent5 and our avdilorfs report Ihereon. Our opinion on the financial slalemenls does not coverthe other infomiab.on and, ex￿pt lo the extent otherwise explicitly stated in our reporL we do not express any form of assuran￿ condusion thereon. Our responsibility is to read the other infomialion and, in doing so, consider whether the other infomialion is materially incon&stent with the financial statements or our knowledge obtained in the Course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misslalemenls, we are required to determine whether this gives rise to a material misstalemenl In the financial slalements themselves. If. based on the work we have perf0M￿d, we conclude that there is a material misststement of this other Informatr"on' we are required to report that fact. We have nothing to rewrt in this regard. Page 12 FASHION & TEYtILE CHILDREN'S TRUST INDEPENDENT AuD￿ORs. REPORT (¢ontinuedl TO THE TRUSTEES OF THE FASHION AND TEThLE CHILDREN'S TRUST Matters on which we are required to rnport by exception We have nothing to TeFQrt in respect of the following matters in relation lo wh￿h the Charities (Accounts and Reports) Regulations 2008 require us lo ￿pOrt to you if. in our Opini¢￿.. the information given in the Twstees, Annua Report is inconsistent in any material respect with the finanual statements," or the charity has not kept sufficient accounb.ng records.. or the financial statements are not in agreemenl with the accounting records and retums., or we have not received all the information and explanations we require for our audit. Responsibillties of trustees As explained more fully in the Trustees, Responsibilities Statement sel out on page 8, the trustees are responsible for the preparabon of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is ne￿Sary to enable the preparats'on of finanual ststemenls that are free from material misstatement, whether due lo fraud or error. In preparing the finanaal Statements. the trustees are responsible for assessing the charity's ability lo continue as a going concem. disdosing. as ap￿￿ble. matters related lo going concern and using the going ¢oncem basis of aecounts'ng unless the trustees either intend to Iv4uidate the charity or to cease operabons, or have no realistsc allemative bul to do $0. Auditors, re$ponsibllitie$ for thg audft of the financial statements We have been appointed as auditors under the Charities Act 2011 and report In accordano with regulations made under that Act. Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole are free from material misslatemenl, whether due lo fraud or error. and to issue an auditors, rep)rt that includes our opinion. Reasonable assuran￿ Is a high level of assurance. but is not a guarantee that an audit conducted In accordan￿ with ISAS IUKI will afvRys delecl a matenal misslatemenl when il exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to in)luence the economic deusions of users taken on the basis of Ihese financial statements. Irregularities, including fraud. are Instan￿ of nOn-￿mpl1an￿ wth laws and regulab"ons. We design procedures in line with our responsibilities, Ouuin￿j above. to detect material misstatements in respect of irregularities, including fraud. The S￿lfie prO￿dureS for this engagement and the extent to which these are capable of delecling irregularibes. induding fraud are detsiled belcw. Identifying and assessing risks rdaled to irregularib"e5'. We assessed the susceptibility of the charity's financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discus%ons within our audit team planning meeting, updating our record of Internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportLbnitses for fraudulent manipulation of the finanaal Statements. We idenbfied laws and regulab.ons thal are of significance In the context of the charity by discus&ons with trustees and upNJab"ng our understsnding of the sector in which the charity operates. Laws and regulations of direct signfficance in the context of the charity include the Charities Act 2011. the Charities {Accounts and Reports) Regulations 2008 and guidance issued by the Charity Commission for England and Wales. Audit response to risks idenbfied". We considered the extent of compliance with these laws and regulations as part of our audit Pfctedures on the related financial statement items Including a ￿VIeW of financial statement disclosures. We rev1ewed the charity's records of breaches of laws and regulatr"ons. minutes of rneetsngs and eorrespondents with Page 13 FASHION & TEXTILE CHILDREN'S TRUST INDEPENDENT AUDITORS, REPORT (continued) TO THE TRUSTEES OF THE FASHION AND TEXTILE CHILDREN'S TRUST relevant authorib.es to identify potenttal material misstatements arising. We disojssed the charity's policies and procedures for compliance laws and regulations with members of management responsible for compliance. During the planning meeb'ng with the audit team, the engagement partner drew attentson to the key areas which might involve non24.' None). Operating Lease Commitments At 30 June 2025 the Charity had annual commitments under nOn-Can￿lIable operating leases". Operab'ng leases which expire.. Within one year Within two to five yeaTS servi￿ Office Sublease Agreement £24,732 £12.672 Pa8e 28 FASHION & TEXTILE CHILDREN'S TRu¥r STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 30 JUNE 2024 Unreslrieled Income Endowment Funds Funds. Total 2024 Notes In￿rne and endchvments from: Donations and legacies Other trading aclivib'es Income from Investments Other incoming resources 175.364 175,364 251,208 251,208 Total Income and erKlowments 426.572 Expenditu￿ on.. Raising Funds 183,452 183.452 Charitable acb'vibes 664.584 664.584 Tolal Expenditure 848 036 848 036 Nel Gain on investrnents 12 623.854 623,854 Net incomellexp8nditure) 596 828 799 218 Transfer be￿n funds 596.828 1596,8281 Net loulgoingi resources before other recognised gains and losses 202,390 202,390 Other gainsllloss88} Net tr￿vement in fijnds the year 202,390 202,390 Total fvnds brought forwar(I 7,257.470 7,257.470 Total funds carried forward 7,459,860 7.459,880 Page 29