THE CHARTERED INSTITUTE OF MANAGEMENT ACCOUNTANTS, GENERAL CHARITABLE TRUST FUND Flnanclal Statements For the year ended 31 December 2025 Charity Registration no.. 257750
Tho Chartered In$tituto of Management Accountants. General Charitable Trust Fund Trusteos, ro8ponsibilitles statement For tho year endod 31 December 2025 Structure, Governance and Management Legal status The Chartered Inslltule of Management Accovntanls, General Ch8ritaiAe Trust Fvnd {GCTI is a Charity registered in England & Wales. The aclivilies of the GCT are g)vemed by its Irusl deed. The Trustees are listed on page 4. Dlssolution of the Trust In May 2023 the Trustees resolved that the Trust be managed toward5 dlssolth'on. The Trustees have that the Tnjsl will not accept any new donations into the Funé. A strategy is being formulated on ulilisalion of the existing Funds in aCdance with the objects of the Trust. The dis801ulion is not exp8Cted within the next twelve monlhs. The GCT 11 conllnue operations while il has funds In reseNes. Trust has adequate funds lo meet ils Gontracted comfflllmenls wlthin the next tsvelve monlhs and therefore the Trustees conlifw lo adopt the golng ooncem basi5 of accountlng in preparing the financial statements. Appointment of Trustees A Deed of Variation was approved on 30 July 2010 which provldes that the power lo appolnt new Trustees is vestéd in the existing Trustees. Trustees seNe for a period of three years after whlch they May be eligible for re- appointment for one or more further periods of not more than three years from the dale of re-appoinlm8nl. Trustees Can setye a maximum of four terms. Following the decision lo dissolve the Trust there was a decision lo reduc8 the number of Trustees lo three. The current Trustees are.. Paul Ash, Past Presidenl of CIMA, a former AICPA-CIMA Board Chair, and currently CEO of B88all Global Limited, has extensive intemational experb'se in flnance, commerca, strategy, arKJ leadership. Ivan Court. who has held a wide range of ffinanclal and MmrcIal roles In the private and publ1¢ sector, includlng the NHS. Nicholas Jes3ell, who has held 8enKJr finance and operational roles across aerospace, financial Services and education sector, and is an experSenced Board member and Chalr. The Tryle88 mel four Ilmes lo d8cide what grants they wlshed lo make out of the fund9 av811able, In a¢¢ordance wth the grant making pollcy. New Trustees are given a briefing on the work of the Trust by th6 Chair are wovlded with an inductlon pack which includes mlnules of the previous Trustees meellngs, the la51 sel of financial slalemenls and the Trust Deed, together with other Snformalion regarding the admlnl$trafjon of the Trust. For all Trustees ongoing training needs are identified on an ad-ho¢ basis. Rlsk management statement The Trustees have reviewed the risks lo which the GCT is exposed and conslder them to be adequately managed given the current economic climate. The Trustees are keeplng the risk reglster under review and will be reviewlng the risk entries in conjunction with the development of a strategy for the dissolution of the Trust. Objectlves and Actlvities The objectives of the GCT are the advancement of educallon In the subjects of accounting, management ounling, electronic data processing, costing, audlting, taxation, applied economics. finance and other related subjects of an educational nature, The Trustees conflrm that they have referred to the guidance contained in The Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in plannSng future activities and setting the grant making policy for the year.
The Chartered Institute of Management Accountants, Goneral Charitablo Trust Fund Trustees, responsibilities statement For the year ended 31 December 2025 The Trust carries out these objectives by funding research during the year In the areas of ac¢ountlng and management accounting. The Trustees seek wrillen confirmation on all Projects to ensure that funds are only applied in accordance with the 18rms of the GCT. If expendrture is likely lo exceed the aulhorised amount, the Trustees investigate and lake appropriate action. The Trustees review performance of the activitles that the Trust fvnds at each Trustees, meeting. primarily through qualilalive feedback provided by The Chartered Institute of Management Ac¢ounlanls' Research & Oevelopmenl team who manage the portfolio of activity on the Trust's behalf. Although no formal measures or targets are sel for the activities of the Trust funds, feedback from stakeholdersls con$ldered by the Trustees and used to inform future funding deciglons. Grant maklng policy The funds available are used lo meet requests for grants In cOrare with the Object88 of the GCT. The Twgtees review grant applications and decide those that they wsh lo authorise on the basis that they sab'sfy the ¢haritable objecllves of the Trust. Achievements and Performance In accordance wllh the grant making policy, In 2024 the GCT approved fundlng and in 2025 a contractual commitment commen¢ed for new research prolec15 as follows.. R562 Climate Resilience In UK firms.. Addr853ing Emerging Rlsk Imperatlve5 (Roehamplon Univèrsity, England) R565 Improvlng management accounting task performance uslng ChatGPT. Iunlverslly of Essex, Englandl R566 The rd8 of management accountsnl in operationalislng gustainabillty slralegy,. lessons from a UK Higher Education Inslilvle Isheffield Hallam University, Engl8nd} R568 Embraclng neurodiversily.. how 1$ social stigma transformed Into an organi5alional asset Ihrou9h managoment accounting and Control? {Universlly of Groningen, Nethedand81 Four projects were approved in 2025 with conlraclual commitments commencing a8 follows.. R569 The Chief Financlal Offic8r and Departmental Characteristics, Budgetary Use, and Perfom18nce {University of Sao Paulo, Brazill R570 From Small lo Suslalnable.. Suslainabilily Reporting Cha118nges and Management Accounting Solullons for SMES In Mexico and Colombia Ilnstilulo Te¢nolOgico y de Esludios Superiores de Mont6rrèy, MexScol R571 The"Growth mindset. and buslness-oriented rdes of management accountants Imonash University, Au51ralial R572 Performance Evaluation for Al-Hum8n Co-creallon (Tulane Universlty,Unlled Slates) In addrtion, several research projects approved in pViS yeafs have been cometed and publish. The progress of all open projects is kept under constant review. A rewrt is produced as an output of each research project and is disseminated on behalf of the GCT by all, or some of, The Chartered InstibJt8 of Management Accounlanls {CIMA), the American Institute of Certlfied Public A¢counlanls IAICPAI, the Association of Inlernats'onal Certrfied Professional Accounlanls (ASsoClI0n> and the research teams themselves. Research results are used in conferen5 around the world, and reports are publlshed through several channels. These channels irude hard-copy rep)rts, orFline reports, articles in a wide variety of academic and wde5sional journals, inleinational professional and academic conferences, and through public relations events. The research was also translated into a range of practrtioner-frtused outputs,
The Chartered Instituto of Managemènt Accountsnts, General Charitable Trust Fund Trustees, responsibilities statement For the year ended 31 Docomber 2025 induding podcasts, FM magazine artlcles. CIMA Insights tAog5, and ple for the Journal of Accountancy. whlle additional external-relalions plattomis - such as webinars delThiere(I through the Global Academic Network - were leveraged lo broaden its reach. No charge is made for the OLrtpul of the research. and executive summary reptyts are publidy available on4ine from the Association websil The Trustees consmler that the achievements of the Gcfs research funding programme are as follows.. The enhancement of the knoedge of the value of management accounting in the business and Wer public arena. The development of the techniques of management accounting through the funding of research partnerships with academic inslilulions around the world. This also helps lo maintain the Important bridge beeen practitioners of management accounting and the academic community. Through the funding of Iow-cost seed corn research initiatives.. provide th8 OPPOrtunily lo test research Snitlallves before larger-$¢ale prolects are undertaken. and support early career researchers on small prolects, enabling them to play an Important role In the development of management accounting knowledge, whilst also enhanGing their res8ar¢h competence. The Trustees conslder Ihal the continuirwJ Investment In a rang8 of prolects wlll play an imFrf)rtanl part In the further development of manement a¢¢ounling for practlloners, in iM)th the publlc and prwate sectors. Financial Revlew The GCT did not receive funding in 2025 or 2024 in accordance wllh ils declsion to manage towards dissolution. The GCT did receive donation of staff services and facilities in the amount of £112k from CIMA and the Assoclallon 12024.. £105k} The GCT expendllure for the year was £221k which included eight new prolecls wllh a lotsl value of £104k. Th18 amounted lo an averag8 C05t per project of £13k. In 2024 there were ten new prole¢ts with a lotal value of £115k which averagad £11.5k per project. There w8re nine reports published 2025 and eight published in 2024. An addillonal three reports are expected lo be published In the flrst quarter of 2026. Cash decreased by £127k in 2025 and wll continue lo decrease as the fund is being managed towards dissolution. Llablllties have decreased by £23k year over year. This18 drlven by elghl new projects in the arnounl of £104k being signed, [Se1 by £119k in payments on current propcls and £8k in unus8d funds from finished projects being written back in the current year. Reserves pollcy As the Tru31 is moving towards dissolution there are no long term plan5 and the reserves are being used lo fund projects approved by the GCT for funéing. The Trustees regularly review the amount of funds il holds to ensure it an meet ils obligations lo fund projects il approve5. The value of reserves held by the GCT at the end of 2025 was £145k {£249k in 20241. Plans for future periods The GCT intends lo continue lo provlde fundlng for projects which advance education in the accounting, finanGe and economic arenas. in line th The Charity's objeelives, until il reaches the point of dissolution.
The Chartered Institute of Management Accountants, General Charitable Trust Fund Trustees, responsibillties statoment For the year ènded 31 Decembar 2025 Referance and Administrative Information Trustees The following heid office as Trustees during the year- Bankers Barclays Bank plc London Corporate Banking 1 Churchill Place London E14 5HP Paul Ash Ivan Court Nicholas Jessett Secretary Baljeel Basra Audltor Saffery LLP Weslpolnl Peterborough Busin8ss Park Lynch Wood Pèterborough PE2 6FZ Prlnclpal addre65 8th Floor 30 Crown Place London EC2A 4EB Rogistered Charlty Numbar 257750 Approved by the Trustees on 14 May 2026 Paul Ash Chalr
The Chartered Institute of Managem•nt Accountants, General Charitable Trust Fund Trustees, responsibilitios statement For tho year ondod 31 Decembor 2025 The Trustees are responsible for pParIng the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accountlng Standards (United Kingdom Generally Acceptèd Ac¢CntIng Practice). The law applicable lo charilles In England & Wales requlres the Tru51ees to pr8pare flnanclal statements for each financial year which give a tfue and fair view of the stale of affairs of The Charty and of the incoming resources and applicalK)n of resource8 of The Charity for Ihal perlod. In preparing these financial $tstemenl$, the Trustees are required to.. Select gultsble a¢¢ounling policies and then apply them consislanlly,. observe the methods and principles in the Charities SORP IFRS102)', make judgements and estimates Ihal are reasonable and prudent., stale whether applicable accounting standards have been followed. gublect to any material departures disdosed and explained In Ihe financial statements,. and prepare the flnancial statements on the going concern basis unless it Is inapproFYiale lo presume that The Charlty will continue in business. The Trust865 are responsible for keeplng proper accounting records that disclose with reasonable accuracy al any time the financial position of The Charity and enable them lo ensure that the financial statements comply with the Charllles A¢1 2011, appllcable accounting regulations. They are also responsible for safeguarding the assets of The Charity and hence for taking reasonable steps for the prevention and detection of fraud and other IrgularItIeS.
The Chartered Institute of Management Accountants, General Charltablo Trust Fund Independent auditors, report to the Trustses of The Chartered Institute of Managem8nt Accountants, General Charitable Trust Fund Oplnlon We have audited the financial statements of The Chartered Institute of Management Accounlanls, General Charitable Trust Fund for the year ended 31 December 2025 which comprise the Statement of Financial Aclivilie$, the Statement of Financlal Posllion, and notes lo the finan¢ial slalements, including signrficanl accounting policie$. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, Including Financial Reporting Standard 102. the Financial Reporting Standard applicable In the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practical. In our opSnlon the finanGial 5tat8ments'. give a true and fair view of the slate of the charity's affairs as at 31 December 2025 and of ils Incoming resources and application of resources for the year then ended., have been properly prepared in accordance with United Klngdom Generally Accepted Accounling PraGlice', and have been prepared in a¢¢ordance with the requirements of the Ch8rfties Act 2011. Ba•1• for oplnlon We ¢ondu¢led our audll in accordance with Inlemallonal Standards on Audlllng IUKI IISA8 (UK)) and appllcable law. Our re8ponsibililies under those slanéards are further described In the Auditor's respon5ibllltles for the audlt of the financial Slalernenls section of our report. We are independent of the charity in accordance with the ethical requirements that are felevanl lo our audlt of the financlal statements In the UK. Including the FRC'S Ethical Standard, and we have fulfilled our other elhlcal responslbilllle5 in ac¢ordance with these requirements. We bellev8 that the audlt evidence we have obtained Is Sufficient and approprlale to provide a basls for our opinlon. Conclu8lon8 rolatlng to golng ¢on¢•m In audlllng the financlal statements, we have concluded that the Trustees, use of the golng con¢em basis of accountlng In the preparation of the financi81 statements is appropriate. 8a$ed on the work we havé perfofmed. we h8ve not idenlmled any material uncertainties relating lo events or ¢ondSllons that, Indbvldually or collectively, may cast signiflcanl doubl on the charlly's ablllly lo continue as a golng Concern for a period of al least e1ve months from when the flnancial statements are aulhorised for issue. Our responsibllitles and the r88ponslbililies of the Trustees wllh respect to golng concern are described in the relevant sections of Ihls report. Oth•r Informatlon The other informallon comprises the irnformation induded in the annual report, olhar than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information. Our opinion on the financial slalèmenls does not cover thè other information and. except to the extent othemse explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read Ihe other information and, In doing so, consider whether the other infomialion is materially inconsislenl with the financial slalemenls or our knowledge obtained in the course of the audit or otherwise appears to be materially misslaled. If we idenlfy such material incon51slencies or apparenl material misstatements, we are required lo determine whether this gives rise to a material misslatemenl in the financial statements Ihemsdve5. If. based on the work we have performed, we conclude that there is a malerlal misslatemenl of this other informats'on,- we are required to feport that fact. We have nolhing to report In this regard.
Tho Chartored Institute of Management Accountants, Goneral Charitablg Trust Fund Independent auditors, report to the Trustees of Tho Chartered Instltute of Management A¢¢ountants' General Charitablo Trust Fund Matterg on which wo aro required lo roport by exceptlon We have nothing lo report in respect of the following matters in relatn to which the Charities {Accounts and Report81 Regulations 2008 require us to report lo you if, in our opinion.. the information glven in the Trustees. Annual Report Is Inconsislanl In any matèrial re$ct with the financial slatemenls,. or the charity has not kept sufficient accounting records., or the financial statements are not In agreement wllh the a¢¢ounting records and returns.. or we have not received all the Information and explanations we require for our audit. Re3pon¥lbllltles of Trustees As explalned more fully in the Trustees, Responsibilities Statement set out on page 5. th8 Trustees ar& responslble for the preparation of the financial statements and for b8ing satisfied that they give a true and falr view, and for such intern81 control as the Trustees determine is necessary lo enable the preparation of financial statements that are free from material mSsstatemenl, whelhef due lo fraud or error. In preparlng the financial stalemenls, the Trustee8 are responsSble for assesslng the ¢harlty'8 ability to ¢onllnue as a going concern, disclosing, as applicable, matters related lo going concern and using the golng concern basis of accounting unless the Tnjstees elther Intend lo Ilquidate the charity or lo cease operations. or have no re8ll$tic alternallve bul lo do so. Audltorn. ro8ponslbllltle• for the audlt of the flnanclal stat•mont8 We have been appolnled a8 auditor8 under the Charities Act 2011 and Trport In 8¢¢ordan¢e wtth gulatIOnS made under that Act. Our objectlves are to obtaln rea80nable a88urance about whether the financlal statement$ as a whole are free from malerfal ml8slalemenl, whether due lo fraud or emr. and lo issue an auditors, report that Includes our oplnlon. Reasonable assurance Is a hlgh level of assurance. bul 18 not a guarantee that an audll conduGled In a¢¢ordance wllh ISA8 {UKI wlll alway8 detect a material misstalement when it exlst5. M1551alemenls can arlse from fraud or error and are considered material If. Indivldually or In the aggregate, they could reasonably be expected lo influence the economic decI81ons of users taken on the ba818 of these financlal slatemenl¥. Irregularilles, Includlng fraud, are Insl8nc88 of non-compliance wllh laws and regulallons. We design procedures in Ilne with our responsibllllies, outlined above, lo delecl material misslatemenls in re3pecl of irregularities, Including fraud. The specrfie procedures for this engagement and the extent to whlch thes8 are capable of delectlng Irregularltles. [rlUdIng fraud are detailed below. Identfying and assessing risks related lo irregularities= We assessed the susceptibility of the charity's flnancial 5talemenls lo material misslalement and how fraud might occur, induding through discusslons with the Trustees. discussions within our audit team plannlng meellng, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible in¢entives ané opportunities for fraudulent manipulation of the financial slatemenls. We idenlrfied laws and regulations that are of significance in the context of the charity by discussions with Tnjslees and updatSng our understanding of the sector In which the charlty operates. Laws and regulations of direct significance in the context of the charity Include the Charities Act 2011. the Charltles {Ac¢ounts and Reports) RlatIonS 2008 and guidance issued by the Charity Commission for England and Wales.
The Chartered Instltulo of Management Accountants. Genoral Charitable Trust Fund Independent auditors, report to tho Trusteos of The Chartered Institute of Management Accountants. General Charltable Trust Fund Audit response to risks identsfied.. We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the charity's records of breaches of laws and regulations, mlnules of meetings and Corresponden with relevant authorities 10 identify potential material misslalements arislng. We discussed the charity's pdScies and procedure5 for Complian with laws and regulations with members of management responsible for Compliance. During the plannlng meeting with the audlt leaffl, th8 engagement partner drew attention lo the key areas which might involve non<ompliance with laws and regulations or fraud. Vve enquirod of management whether they were aware of any instances of non-compliance wrth laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through manag8menl override of controls by testing the 8ppropriatene5s of joumal entries and identifying any $lgnlfi¢ant Iransacllons that were unusual or outside the normal course of business. We assessed whether juégemenls made in making accounting eslimales gave rise lo possible indlcalion of management bias, Al the ¢omplelSon stage of the audrt, the engagement partner's rèview included ensurlng that the team had approached their work with approprSat8 professional scepllcism and thus the Capacity lo identify non•compliance with laws and regulations and fraud. There are inherent limilalion$ In the audll procedures described above and the further removed non-complian¢8 wllh laws and regulallons is from the events and Iran¥aclions reflected in the financlal slatemenls, the less likely we would become aware of it. Also. the risk of nol detecting a material misslalement due lo fraud is higher than the risk of nol dete¢llng one resulting from error, as fraud may Involve deliberate ¢on¢ealmenl ty, for example, forgery or Intentional mlsrepresenlallons, or through colluslon. A further descrlpllon of our responsibllilles 15 avallable on the Financial Reportlng Council's web511e al: .fr .ukJaudilorsres This description forms part of oui auditor's report. Uge of our roport Thls report is made solely to the charity's Tru51ees, as a boéy, in accordance wilh Part 4 of the Charities IAccounl$ and R8POrtsl Regulallons 2008. Our audll work has been undertaken so that we might stale lo the Trusle8s those mallers we are requlred lo stale to them in an auditor's report and for no other purpose. To the fulle51 extenl permilled by law, we do not accept or assumé responsibility lo anyone other than the ¢harlty and th& Tru$loe$ as a body, for our audit work, for Ihls report, or for the opinions we have forme(l. Saffery LLP Weslpoinl Peterborough Business Park Lyn¢h Wood Peterborough PE2 6FZ Slatulory Auditors Dale.. 27 May 2026 Saffery LLP is eligible to act as an auditor in temis of section 1212 of the Companies Act 2006
The Charternd Institute of manament Accountants, Genoral Charltabla Trust Fund Statements of Flnancial Activities For the year endod 31 Docombor 2025 2025 Unrestrlcted fund• 2024 Urtro$tri¢tod funds £000 £000 £000 £000 Income and dOWMentS from Donations Donations from CIMA and Ihe Association 112 105 112 105 Investments Bank deposll Interest Total Incomo 117 113 Expendltur• on Charilablo actlvrtK8S Re59ar¢h grant5 - Other expendlture 198) 125 {1071 118 3b 221 225 N•t lo {1041 11121 R•conclllatlon of lunds: Total funds brought forward Total fund8 ¢arrl•d forward 249 145 249 All results are from continuing operations. The SOFA Includes all galns and1088e8 recognlsed In the year. The nol8s on pages 1110 15 form part of the fln8nclal statements.
The Chartered Institute of Managemont Accountants, Ggn¢ral Charitablo Trust Fund Statements of Financial Posltlon For the year ended 31 Decembor 2025 2025 Unrostricted Funds 2024 Unrestrlctgd Funds £000 £000 Currènt assets Cash 242 Current Ilabilitigs Trade and other payables 97 120 N•t ¢urrnnt a•sat• 145 249 Total n•t 8890ts 145 249 N•t Incomlng rnsour¢•8 for th• y•ar Unre8trlcled fijnds 145 249 The financial gtalemenls on pages 9 to 15 were 8pproved by the Trustees on 14 May 2026 and 81gned on118 behalf by Paul Ash. Paul Ash Chair The notes on pages 1110 15 form part of the financlal statements. 10
Tha Chartered Institute of Managemenl Accountants, G•n•ral Charitable Trust Fund Notes to the financial statements For tho year ondod 310ecember 2025 Charity information The Chartered Insulute of Management Accountants General CharSlable Trust IGCTI Os a regislored charity in England and Wales. Its prfnclp81 address is th8 8th Il¢Jor, 30 Cfown Place. London. EC2A 4EB. 1 Accounllng pollcles Basls of preparatlon The financial slalements have been prépared in accordanc8 woth Financlal Reporting Standard 102.. "The flnanciol reportlng Standard applicable in the UK and Ireland. the Charitiès St8t8ment of Re¢ommended Practlce. and The Charities Act 2011. Consistent accounting standards have been applied in preparation of thesé financial slalemenls. The disclosur8 requirements of IA of FRS 102 h8v8 been 8ppll8d other than wh8re addltional dlsclosure Is required lo show a true and falr vi8W. Preparatlon of the accounts on a going concern basls Thg Trusleos have con$Sdered the going concern assumpllon In preparing th8 flnancial statements. Whlle the charity is curr8nlly mana9lng its operations, il is important lo hi9hllght that Ihg organlsallon Is a¢liv8ly working towards dlssolullon. The dlssolullon Is not expected thIn tha next tsvelve months. The GCT wlll conllnue operatlons whlle res8(v8s are 8pproprlale. The Trust has adequate fund5 to meet Its contracted commitments within the naxt 1v9 months and Ih8refore the Trustaes continue lo adopt the goSng concern bas18 of 8ccounling In preparing the financial statements. Income Donations and simllar incomlng resources ore Included in the Stelernenl of Flnancial Adlvllles ISOFAI when recelved. Bank Interest is also Included on a recelvablo basls. Expendlture Exp8ndlture has been Included In Ihg Statement of Fln¥ncl81 Actlvllle8 on an 8CCIU81 basls. Th8 r8cognSllon of charitable acUvllle5 Is as follows.. GrBnls for Commissioned research projects are recognis8d wh8n the contract forth6 prolecl18 approved by the Trustees and has been slgned by 811 parties. Costs of gvgnts, conforgnces and other 8xpendltures arè recoonlsed on an occrual basls In the perf¢xl In which tha 8xpgndllur9 was Incud. Wh8re research projects, whlch arè p8id in 8rrear$, are completed during the year balow th8 lavel of 8PPIOV8d grant fundlng, the unused funds 8r8 releasod to the Slalemenl of Fin8ncial A¢llvilie8, Valuation of servlces and facllltles provlded free of charge CIMA and th8 Association provlde gtsff and facilllies free of charge to The Charity in order lo fulfil Its charitsble objecllves. VBluallon of the services and facilities ha5 been included as follows.. Staff are valued as a proportlon ol salary and r8laled costs b88ed on an e8limale of the amount ofllmg rdevanl staff members spend on GCT adivitias gv8r the perio¢J the r(nancial slalemenls are prepared. Facllltl8s provided by CIMA for hosting charity maatings are valued using o delegate rale lor hiring slmll8r venues from a Ihlrd-party venue Provlder. Thesg method5 approxlmale fair value. Taxation The Chartered Inslilule of Management Accountants. Gen8ral Charitsble Trust Fund is 8 registered Charity. and a$ su¢h is entitled to certain tax exemptions on income and profll$ from exemplions, and surpluses on any activities carried on In furth8rancè of The Charity's primary obieclives. if these profits and surpluses are applied solely for charitable purposes. Trade and other payables Trade and other payables are recognised al amortised cost.
The Chartered Institute of Management A¢countsnts' General Charitable Trust Fund Notes to the financial ststements For tho year ended 31 December 2025 Cash and cash equivalenls Cash and cash equivalents are basic financlal assets and include cash In hand, deposlls held al ¢all with banks, and other short-term Ilquid Investments vlth original maturllles of three rnonths or less. Bank overdrafts are Shown wlthin b(Yrowlngs in current liabllllles. Funds As th8 amount and sources of Income receivable are not known more Ihan lfftfvè months in advance, long lem plans are not prepared. Th8 resources of thè GCT are used lo the fvll extent availabl8 and any accumulation of 8SS8ts is lor fvture research under the lernis of th8 GCT. Resorves are not Inlenuonally hdd al a defined level bul are used as and when appropriat8 activitS are approved that fuffil the objectives of the Trust. 2 Donatlons 2025 £000 2024 £000 Donatlons from CIMA and tha AS80Claon Fadlilles and Eervicos 112 105 Total donatlon$ TK•lv•d from CIMA and the A•io¢latlon 105 3 Expendlture on charltable actlvllles Res••rch gr•nt• In lurth•ranc• of GCT obJ•ctlv•s •r• 2025 £000 2024 £000 R552 . The Unlveraty of Nawcaslè ICall8ghan. AuslralSal R553- Ruhr-univgrslty IBochum. Germanyl R554- University of Southampton ISoulh8mplon. Enolandl R555- University of Galway (Galway, Ireland) R556- Tulana Univ8rsily ILouisian8, USAI R557- Unlverslly of Wihvalersrand lJohanneBburg, South Afrfcal R558- University of Prelorla IPr8lorla. South Affical R559- Unl¥er8lly of Lodz (Lodz, Polandl R560- Skoda Auto UniversSty Imlada Boleslav, Czech Rgpubllc) R563- RMIT Imelboume, Australlal R562- Roehamplon Unlversity (London, EnglBndl R565- Unlverslty of Essex Icol¢hgSt8r, Enand) R568 - Sheffield Hallam Univgrslty (South York5hlre, England) R568- Unlversity of Gronlngen {Groningen, Nethgrfandsl R569- Unlverslly of Sao Paulo (Brazil} R570 - Instlluto Tecnelogico Y De Estudlos Superiores De Monlerrey IMexi¢ol R571 - Mona$h Unlversly IAustrallal R572- Tulane Unlvarsity (New Orleans. Loulsiana USAI 25 25 25 17 24 25 18 104 115 Less unused funds from completed prolects released lo SOFA Net oulgoing rosourc•s for the year 107 b Other exp•ndltur• In furtherance of GCT obj•dlve8 •r• 12
Tho Chartered Institute of Manag8m•nt Accountants, Gonoral Charitable Trust Fund Notes to the Ilnancial statèments For tho year ended 31 D8¢frmbor 2025 2025 £000 11 112 2024 £000 Audit fees Donated service8 Meeting rooms Miscellaneous 103 N•t outgolng rosources for th• y•ar 125 118 4 Movement In funds {£OOO) 8alanco at 31 D•c¢mb4r 2024 249 Incoming r•¥ourc•8 B•l•n¢o at 31 Decemb•r 2025 145 Exp•ndltur•¥ 221 Unreslrlcled funds 117 5 Transactlons wlth Trusteos No remuneratlon has been pald lo any Tru8188 In either year. One Trustee recelved expense reimbursements durlng 2025(2024.. 21. Expanses pald on behalfofTruslees In tho y8ar amounted to £18112024.. £8101. 6 Taxatlon No lax 1$ payable for elther flnanclal year. 7 Cash Cash ¢omprlses 2025 £000 2024 £000 Cash on hand and al bank 242 8 Llablllties Tr•d• and oth•r y•bI Balances al year end on commMed research projects ara 2025 2024 £000 £000 R540- $t'Anna Sch ufAdv4nced St193 (Plsa. IWY) 13
The Chartered Instiluts of Management AGGountants' General Charitabl• Trust Fund Notes to the financlal ststements For the year ended 31 December 2025 R545- R0ehamp ILond)n, Enalandl R551- ROYAI Holrmay and Bd[d Now College IEghBm, England) 17 R553. Ruhr-untvernity IBothum, G•manyl R554. Uner OfSL¥jlhPrtty1 ISwthamKlon, Englondl 25 R555- Unety olG4Tray {GaAy, Inland) R556-TLlwe vell¥ (Loulsiana. Untt Sl81081 25 R559- Un8ty ol Lodz (Lodz. Pol•ndl R580-Skoda Auto IMl8d• 80•v, Cz•ch Reput41cl R562- Rllqhlmpn lthfvernlly (Lthn, Ertol•ndl 24 R503- RkI IMdbJuff, Austrla) 17 R5J5- Unlvernfty rl Ets8x Icofchester. Eng18ndl 15 R5e6-Shdfb8ld HIM Unfv•r8lly (South York$hlre, Endandl R5e8- Unlwrslty d GI19n (GronIry, Netheld8) R589- Unlversty P8uk)18rnzll R571- Mcffj••h Uniwrnlty IAu¥lhl R572-TuLqD8 Unfverslty INW ¢e•nI, Ltyjalano VSAI 18 Totyi CoMltt•d r•u•rGh prol•ets 110 10 10 T¢)tal tr•d• and oth•r payabl•• •7 120 9 Related party transactlons Th• Ch•rtorgd In8tltut• of hlanaym•nt Accountants {CIMAI The Chartered In51ilule of M8nag8ment Accountants donates staff and faci111188 to the Trust In respect of governance of The ChaAty, managing the financ88 of The Charity and supports Ihg activlties of The Chadty In accordance whh the charitable objectNgs. Assoclaifon of Int•rnatlonal CertlfE8d Professlon•l Accountants {A*$oci4tlonl Tho Associatlon of Inlern8llonal Certlfied Professional A¢¢ountanls IA530Ci8tionl Is a global membershlp organisalion whos0 mlssl¢)n arKI vi5K)n is to ba the most Influen81 body of profe$&cfial accwntsnts driving a 14
Tho Chartored Institute of Managomont A¢¢ountants' General Charitabl• Twst Fund NotOS to the financlal statements For tho year ended 310ecember 2025 dYnarn 8ccounling profession worldwd8. In June 2016. members of the AICPA and CIMA. in separate membershlp ballots, approved the creation the Association lo integrate managament. 0porati5 and strategy whi18 pr8s8rving the mgmbgrshlp les of both organlsations. The A&8oclalion lgunthed ¢)n January 1, 2017, w6th the AICPA and CIMA as founding membors. M&mb•rs of the AICPA and CIMA are also membars of the Assodalk*n. The Assoclatlon Is organised as a NFP organisatlon d(1Cl1ed in the United Slates of America I"US'I- Durfng 2025 a Small porfon of the donated serylce8 were from staff ofthe Assccknqtson. Th8 Trust88$ of the GCT make indep8nd8nt, ami's lancth, decl&ons In matters of funding grants for rese8rch and other chgrflabl8 acllvlt6as. In 2025 donated staff costs and f8dllll•s from CIMA and the AsslatIOn wore valued at £112k. 10 Employees The av8r8ge monthly number of p6rsons employad by Th8 Charlty durfng the year w88 012024- 01. There ware no amployees who recelved befits of more than £60.000. 11 Legal Form The Chartered Institute of Manag8manl Accountants, Gonèral Ch8rStsble TnJsl Is an unlncorporaled chgrfty reglslered In England 8nd Wales {reglslrallon number 2577501. The reglstered office Is as follow5.. 8th Floor 30 Crown Plac• London EC2A 4EB 12 Subsequont Events The Chartered Instllule of Manag8m8nl AcctxJnlan15 General Charitable Trust has evaluated events and Iran8actsons for potential rocognillon or dlsclosure through lo 14 May 2026, whlch Is the dat8 thè Ilnancial statements were approved. Thera ar8 no post balance sheet events to disckjse. 15