2022-03-31-accounts

Charty number 258665 THE T.U.U.T CHARITABLE TRUST REPORT AND ACCOUNTS YEAR ENDED 31 MARCH 2022

THE T.U.U.T CHARITABLE TRUST GENERAL INFORMATION YEAR ENDED 31 MARCH 2022 TRUSTEES: S Ferns P Nowak Baroness Prosser OBE D Sachon M Twalsh P Vvhiteman lappoinled 31 May 20211 SECRETARY: S K Eilis ADDRESS: The T.U.U.T Charitable Trust Congress House Great Russell Street London WC1B 3LQ BANKERS: Co-operative Bank plc P.0. Box 250 Delf House Skelmersdale WN8 AUDITORS.. Shlpleys LLP 10 Orange Slregt Haymarket London WC2H 7DQ CHARiTY NUMBER.. 258665 Page 1

THE T.U.U.T CHARITABLE TRUST REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2022 FINANCIAL STATEMENTS The Trustees present their report and accounts for the year ended 31 Mareh 2022. The financial statements comply wth curMI statutory requirements, the trust deed and the Statement of Recomrnended Practice'Accounting and Reporting by Charities, (Charities SORP FRS 102). BACKGROUND AND OWECTIVES OF THE TRUST The T.U.U.T Charitable Trust was established by a doclaralion of Trust dated 26 March 19691'The Tw$1 Deed.). The purpose of the Trust was to hold the shar8s of the ccAmpany now known as TU Fund Manager8 Limited ITUFM), u8e distributed profrts from this. and other sources for charitable purposes. The Gengral Coyncil of the Trades Un*?n Congr8S5 may, trom tim8 to tim8, by writ18n notice, sugg8St to the Trustees charttable causes. whiGh they feel, would benefit from our sUPPOrt. In the absence of such. the Trustees shall hold the Trust fund for the ban8fit of such charitabl8 purpos8s as they, in th8ir absolute discretion, see fiL STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE ACCOUNTS Tho Trustees are responsfole for preparing the trustees. report and the financial slalemenls in accordance wilh applicable law and United lQngdom Accounting Stand8rds (United Kingdom Gen&rally Accepted Accounting Practice). Law applicable to charitses in England and Wales requires the Trustees lo prepare accounts for each financlal year, ￿[ch glve 8 true and fair vlew of the state of affairs of the oharity and of the inwme and expenditure of th8 charity. In preparing these accounts. th8 Trusl88s are required to=_ select suitable accounting policies and apply them consistentw, observe the methods and principles in the charities SORP,. mak&judg8m8nts and astimat8s that are reasonable and prudent., slate whether applicable accounting standards and statements of rewmmended practice have been followed, subject to any departures dlsclosed and explained in the accounts., prepare the aGGounls on the going ¢onceTn basis unless it 18 inappropriata to a88ume that the charity will b8 ab18 to continue in operation. The Trustees are responsible for keeping suffici8nt accounting records which disclos8, With reasonable accuracy. the financial position of the charfcy at any time. and which enable them to ensure that the accounts ccmply wth the Chartties Act 2011, the Charity {Accounts and Reports) Regulations 2008 and the provisions of the trust dèed. They are also responsible for safeguarding the assets of the charity, and hence for taking reasonable steps for the prevention and detection of error, fraud and other irregularrties. TRUSTEES The Trustees who seNed during the year are as follows.. Suè Ferns Baroness Pros8er OBE ra T Walsh P Nowak D Saehon P Whf(eman l?ppoinled 31 May 20211 On the relirernenl of any Trustee. the PK)wer of appointing a replacement is nom)ally vested in tha surviwng Trustees promding the app)intment lakes pl￿e within three Months. Page 2

THE T.U.U.T CHARITABLE TRUST REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 MARCH 2022 ENQUIRIES Any enquiries r8gardlng the Trust should ￿ address￿ as folltsws.. Ms S K Ellis The T.U.U.T Charitable Trust Congress House Great Russell Stre6t London WC1B 3LQ REVIEW OF ACTIVITIES AND ACHIEVEMENTS The trustees have given due regard lo the Charity Commission's guidance on public benefit when reviewng the aim and objectives and in planning fvlure activities of the charity. The trustees gtve their lime freely and receive no remuneration for their seNices. The aim of the charity is achieved by providing benefft to charttable Gauses as Gonsidered appropriate by the trustees. During the past year the charrty has continued its support for charities working in drfferent spher8s, both in the UK and overseas. Below are sorne of the projects we have funded. A full list of charities supported this ye8r is in ngte 4 of this Report & Awounls. UK projects The We￿are of children has been at the forefront of uur donations this year. We have thed lo support charf(ies working at a political level and those working directly to Positively influence the future of our childr8n and society- The largest donation 1£77k over two years) was given to Child Pov8rty Actlon as they work to secure Gross party Gommilment to end Ghild poverty. The Mental Health Foundatlon were given £50k funding for their project working wilh university students to create peer lo peer mental heatth support systems which could then be passed down from 2nd years to 18l years in the future. a180 pThiding them with ski118 useful to future empl()yèr8 and their CLYnrnunitt￿ in general. What sort of job will I do when I grow up? The av6rag8 7 year old's reply wll often be influ8nced by thosè adults they know around them. If your parents work in the health service that is likely to be where you sg0 yourself, teacher is also a favourile. How to wden a child's vision for the fU1u￿ Is the aim of Education & Employers a chanty which invites those in worf( to go into schools (particularly in pwrer area51 and talk about their job5. These fftterventions introduce children to role rnoLlels they may not have thought of particularfy jobs whtch have long been st8reotyped for example pilots (mainly seen as male}, m￿wIveS lusualty women), HGV drivers {usually malel. A donation of £25k helped lo increase the number of schools who could hold these workshops and widen the horizons of many more children, gniing them focus lo head for the stars, orjusl see that education is the best route lo a Useful and fulfflling life. Wf(h the aim of keeping children out of jail The No Way Trust based in Hull works in schools with children aged 12-15 across England & Wales lo help prevent children from becoming involved in risky bahaviour or crime. to stsy safe and hopefully reali5e their full KM)tential. Our grant of £20k was to be used lo fund match individual school events throughout the country and contribute to the salary of an ex-prisoner who lakes part explaining what lrfe is really like in pNson. Page 3

THE T.U.U.T CHARITABLE TRUST REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 MARCH 2022 For those children with lrfe limited corKlitions and their f￿nI11e$ Covid-19 meant the suspension of routine respite visits leaving families to cope without their usual carè package8. The Children's H05plce South West innovated and created a blended way of working they call Hospice-Home VIrtUo1. This approach has been well received by patients and families which has created a need for a Co-ordinator role at each of their three hospice sites lo ensure the OLrtreath work in the community lives up to the high standards of that in-house. The Charty donal8d £10k towards this role. Overseas projects Together We Learn is a merger of Iwo charities which have been working in Ethiopia for more th8n 20 years to bThght8n th8 prospects for children. They wotk with teachers at Slate scho915 to help them deliver effethe lessons. Thoy have been training teachers to teach English for ov8r 8 years and have seen Signrficant irnprovemenl for pupils whose teachers have receNed training in the phonics method. A donation of just £4k lover 2 years) is helping to expand thelr earfy years English Literacy programme into th8 Oromia region of Ethiopia. The pilot project will work with 12 schools training 24 teachers in the phonics method reaGhing 1,200 pupils in two drfferent areas of Oromia. Over the two years this should d&monslrate to the regional education burèau that the positive impact of the training is replicable and thereby gain Ih&ir support for wider rollout. In April and May 21r21. the terrible toll of Covid 19 in India was shown on all major TV channals. The Britlsh Aslan Trust pul out a call for funds to help them purchase equipmenl elc and gel il to India lo which we responded wfth a donation of £10.000 which was used to help facilitate vaccination programmes. London based charity Ashantl Development was sel up by Ghanaians living in the UK to support and devalop their home region in Ghana. They began work in 2005 10 improve the eye hea￿h of I￿81 people mainly caus8d by a form Df conjunctnirtis brough south across the Sahara by traders. Later it was realised that Ca￿r￿t8 were an even greater problem with 1 in 20 people over 50 affacled. After much fund rnising 8nd Ih218bour of local people. in 2010 an èyè elinic was opened which included Sn OP8rating theatre for cataracts. As Covid had caused their cfinio to dose during much of 2020 they were anxious lo catch up on their work. We enabled them to perfomi 52 cataract operations with our donation of £5k. FINANCIAL REVIEW During th8 year, th8 Trust re¢eNed income of £202,953 {2021= £153,863) and made charitable donations of £310.08012021= £207.635}. After tsking into account a small amount of othw expense8 of £5,451 {2a21.' £14,571) and net increases in value of investments of £14,80912021'. £288.150} the accumulat￿ fund increased to £2,390,747 12021.. £2,488,516). Tha TriJst88s expect lo maka substantial charitable donations in future years, but this policy is dependent on the level of inwme gener*ed and upon the Trustees. objective of maintaining a continuing Charitable Trust fund. The audited accounts of TU Fund ManagerB Group (whose principal actI￿ty is th8 ov8rsight and supwision of its customers, Investments In both the Aberdeen funds and the Trade Union Unit Tru8t}. which is wholly owned by the Trust. to 31 MarGh 2022 show a consolidated loss for the year of £46,730 (2021.. £12.975) after making donations of £200,000 {2021- £150,000) to the Trust, and nel assets of £1,902.00812021.' £1.904,7381. THE POLICY ON RESERVES The Trust's income rem￿nS heawIy dependent on one source Fund Managers Group) whuse trading activities are liable lo be affected by circumstances entirely outsid8 tts control. The Trustees therefore Èel l appiYpriale lo build up and maintaifi a reserv2 in order. to provide conlinuty of funding without concern atth the vag8ries of income" to have the ?bility to respond quickly to emergency appeals.. and to permit the Trust88s lo diversfy th8ir portfolio without the neéd to realise part of their core investment. Page 4

THE T.U.U.T CHARITABLE TRUST REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 MARCH 2022 Accordingly, the TNslees' policy is lo continue lo maintain a reasonable reserve fvnd (excluding the value of shares in TU Fund Managers Limited) which will enable the Trust lo continue it8 work. At the y8ar-8nd, thé Charity had res8rves, axcluding th8 valu8 of shares in TU Fund Manag8rs Ltd and restricted funds, of £484,04212021.' £579,084}. The minimum reserve fund the charity needs lo continue its wor1( should 8qual the amount required to fund all granis already committed. Al the yearond future gr3nt commitrnenls lotalleLI £152.760 {2021= £63.760). REMUNERATION AND LIABILITY OF TRUSTEES The Trustees are onlilled lo reimbursement of expenses Incu￿ed in the execution of their dLrties. The Trust deed slates that they are also to be fully indemnffied out of the Trust assets 8gainst all liabilities incU￿ed through the ex8culion of their duties. During the year in question. no such reimbursement or indemnffication has been made. APPOINTMENT OF TRUSTEES Th8 Board of Trusté8$ is authoris8d to appoint new Trustees lo fill vacancles arislng through resignalion or death of an exist1r￿ Trustee. INVESTMENT POWERS Th8 Trusl88s have power lo invest th8 trust funds in such investments as they think frt as rf thay w8r8 Ihemsefves the tnefici81 owners. CHARITABLE DONATIONS POUCY Although there is no legal restriction on the Gharrtable causes tmat may be awarded grants, the trustees give priortty lo charities th8t demonstrate a close r8lationship with th8 trad8 union movemenL either in the UK or road or which are seeking support for objectives which the movement would be likely to endorse. It is not normally the Trustees. policy to rnake grants to individuals for their own ben8frt. To apply for a grant, charitable organisalions ghould apply for a Fomi of Request and submff( this, duly ¢ompleled. Th? Trustees meet * least a yearto consider requests re￿ived. RISK MANAGEMENT The Trustee8 confinm that they have assessed the risks to ￿lch this Charity is exposed. Th8 Trust holds invaslmants in aquilies and gills whos8 prices it monitors regularty, along with &asily accessible cash investments, which il uses to maintain the liquidity of its bank ba18nces. Though thè Trnst has only two coré donors, TU Fund Managers L1rn￿ed ITUFM) and TU Fund Management Services Limited ITUFMSI, the Trustees feèl the risks to which they are exposed are minimal. They are, nevertheless, sensitive to the potential risk that Gould arise should the Trust's full ownership of TUFM and TUFMS bè teduc8d. One arèa wh8r8 th8 Trust coukl b& vuln8rable is in anticipating inccmne from TUFMS. The trustees are regularly kepl up to date by the directors of TUFMS of any matters of intere51 to them. Approved by the Trustees on:Z. 3..1.I1..i.Ic)£L Signed on their behalf by.. ........................... Baroness Pr05ser OBE Page 5

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE T.U.U.T CHARITABLE TRUST Opinion We hav8 audited th8 financial statements of The T.U.U.T Charrtable Trust far the year ended 31 March 2022 wh￿h comprise the Statement of FinarKial Activrties, thè Balance Sheèt and the related nolas. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdc*n Accounting Standards, including Financial Reporting Standar(1 102 The Financial Reporting standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting PractiC8). In our opinion. the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 March 2022. arKI of Its inwme and expendrture for the year then ended- have been properfy prepared in accordance wrth United Kingdom Genèrally Aeeepl8d Accounting Practice- and have been prepared in a¢Gordanoe wrth the requirements of the Chariti88 Act 2011. Basls for oplnlon We conducted our audit in a￿ordanCe with International Standards on Audf(ing (UK) (ISAS IUKII and applicable law. Our r8sponsibi1it18s under those standards are further described in the audrtorfs responsibilities for the audit of the financial statements section of our report. W8 are ind8pendenl of the charity in accordance with the ethical requirem8nts Ihal are relevant lo our audit of the finarKial statements in the UK, induding the FRC'S Ethical Stsndard, and wè hava fulfillad our oth8r 8thical responsibilities in acWr[lan￿ with these requirements. We believe that the audit evidence we have obtained is Su￿￿10nt and appropriat8 to provid8 a basis for our opinion. Conclusions relating to going conc&rn In auditing the financial ¥taternents. we have concluded that the trustees, use of the going concem b8SIS of accounting in th8 pr8paralion of the financial statements 15 appropriate. Based on the work we have perfonned, we have not identified any material un￿rtaInlieS relating to events or conditions that. irKlividually or collectively, may fASt signfficant doubl on the charitys abilty to ntinue as a going concem for 8 pèriod of at least ￿e1ve months from when the financial statements ar8 aulhorised for issue. Our responsibi1it18s and the responsibilities of the trustees with respect to going CDncem are de8cribed in the refevant sections of this report. Other Inforniatlon The other infomialion enmprises tn8 InfomiatiDn included in the annual report. other than the financial slalements and our auditoffs report thereon. The trustees are responsible for the other infomiation. Our opinion on the financi￿ slaternents does not cover the other informalion and we do not express any foryn of assurance conclusion thereon. Our responsibility is to r8ad th8 Oth8r information and, in doing so. consider whether the other infomation is rnalerially inconsistent with the financial statements or our knowledge obtainéd in the audit or otherwise appears to be maleri8lly misstsled. If w8 identity such material inconsistencies or apparent material misslalements, we are required to determine wheth8r th8re is a material misstatem8nt in the financral Statements or a matert£l mis5tat2menl of the other information. If, based on the work we have performed, we conclud8 that there Is a materfal misstatement of ttrils other infomation, we are required to report that f8¢L We have nothing to Trport in this r8gard. Page 6

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE T.U.U.T CHARITABLE TRUST (CONTINUED) Matters on vthlch we are requlred to report by exceptlon In the light of the knowledge and understanding of the charty and its 8nvironmenl obtained in the course of the audit, we have not idenlffied material misststements in the Iruslees, rewt We have nothing to report in reSp￿t of the following matt&r8 in relation to which the Charities (Accounts and Reports) Regulations 2008 requires US to rew)rt to you rf, in our opinion.- the information given in the trustees, report is inconsi%tenl in ony material respect with the financial slatemenls., or sufficient acci)unting records have not been kept.. or the financial statements are not in agreement with the accounting records,. tsr W8 have not rec8iV8d all the infomialion and 8xplan8lions w8 requir8 for our audit. Responslbllltles of trustaes As explained rnore fully in the Trustees. Responsibilrties Statement set out on page 2, the trustees are r8sponsibl8 for thè prep8ration of financial statements which give a true and fair view. and for such intemal control as the trustees detemine is n￿ssary to enable the preparation of financial statements that are free from material misstatement. ￿ether due lo fraud or error. In preparing the finanGial slatemenls, the Iruslees arg r9spons*le for assessing the charity's ability lo continu8 as a going conc8m, disclosing, as applicable, matters r&l8t8d to going concam and using the going concem basis of accounting unless the trustees efther intend to liquidate the company or to cease operations, or have no realistic attematlve but to do so. Auditorfs re5ponsibllities for the audlt of the financlal statements We have been appointed as aLKlitDr under section 145 of the Charities Act 2011 and repurt in accordanc8 with the Act and r8lev8nt r8gul8tions m8de or having effect ther8under. Our objeclives are to obtain reasonable assurance about whether the financlal statements as a whol8 are free from material misslatemenl. whelher due to fraud or &mr. and to issue an auditor's report that includes our Dpinion. Reasonable assurance is a high level of assuTar￿e, bul 15 not a guarantee that an audft conducted In accordance wlth ISAS (UK) VAII a￿ayS detect a matarfal mlsslatemant when rt exists. Misstat8m8nls can aris8 fmm fraud or error and are considered material rf, individually or in the aggregate. they could reasonably be exp6cted to influgnce the economic decisions of u8er8 taken on the b8515 of these financial slalements. IrrpgularTties. including fraL￿, are instan￿5 (rf non•compl1an￿ with laws and regulations. We design procedures in Ilne with our responsibili(ies, outlined above, to detect material misstatements in respect of irregularlbes, including fraud. The extent to which our proGedures are capabl? of deteding Irr￿ularl11eS, including fraud is detailed below.. We obtsined an unéer8tsnding of the charitys adivihes. controls and laws and regulations and assessed the susceptibility of the chariws financial sta18ments lo material misstal8menl from irregularities, including fraud. We detemined that the laws and regulat￿￿$ that are most significant to the charty are the Chariti8s (Accounts and Reports) R8gul8lK)ns 2008, the Charities Act 2011, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1Q121. Acc(MJnting and Reporting by Charylies: Slalemenl of Recommended Prac+iGe applicable to Charities prepari4g their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {ChaTities SORP FRS 1021 and the Trust Deed. Page 7

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE T.U.U.T CHARITABLE TRUST (CONTINUED) Based on this understanding we designed our audrt procedur&s tD dotecting irragul8rities, including fraud. Testing undertaken included making enquiries of those charged with governan￿,. joumal entry te3ting'. review of bank letters. trustee minutes and governing document., rew8wing financial statement disclosures and lesling lo supporting documentaion lo assess Compliance th applicab18 laws and regulations. These procedure5 were designed to provide reasonable assuran￿ that the financial stslements were free from fraud or error. A further description of our responsibilities for the audit of the financial statemants is Ittal￿1 on the Financial Reporting Council's websrte at.. www.frc.org.uklauéttorsresponsibiltties. This description foms part of our aud￿0￿$ raport. Use of our report This report Is made solely to the trustees as a body. In accordance with S￿lI0n 144 of tne Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might stale to th8 trustee those matters we are required to slate to them in an auditorfs report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the trustees as a bcéy, for our audit work, for Ihk% roport, or for the opinions we have fom8d. Shipleys LLP Chartered Accountants and Statutory Auditor5 10 Orange Streèt Haymarket Lonéon. WC2H 7DQ 12 December 2022 Shipleys LLP is eligible for appointment as audltor of the charrty by ￿rtue of el￿1b[litY for appointment as auditor of a company under section 1212 of the Companies Act 2006. PwJe 8

THE T.U.U.T CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2022 Notes Unrestricted Restricted Funds Fund Totsl Funds 2022 Total Funds 2021 INCOME: Dividends and non-bank interest Bank interest Donations 2.900 2,900 3,830 33 150,000 200,050 200,050 Total Income 202,950 202.953 153 863 EXPENDITURE: Charitable activities- grants Charitable adivities- govemance 310,080 310,080 207.635 14,571 Total Expgndlturg 315 531 315.531 Net bxponditure before gains 011 Investsnents (112,5Y1) 1112,5781 (68.3431 Net gains on invèslm8nts 288,150 Net {expendlture} I Income 197,7721 {97,7691 219.807 Reconciliation of funds: Total funds b1fv￿ 1 April 2021 2,483,822 4.694 2,488,516 2,268,709 Total funds ¢lf¥vd 31 March 2022 2,386.050 4,697 2.390,747 2,488,516 Thé notès on pagès 11 to 18 fomi part of thasè accounts. Page 9

THE T.U.U.T CHARITABLE TRUST BALANCE SHEET YEAR ENDED 31 MARCH 2022 Notes 2022 2021 FIXED ASSETS Investments 2,502,050 2,512,394 CURRENT ASSETS Cash at bank 46,893 45,318 Cr6dltors: Amounts due wlthln one year Grant C(Mnmilments Other creditors (113,7601 15,436) 141,820} 15,4361 1119.196) {47.256) {72.303) {1,9381 NET CURRENT ASSETS 2,429,747 2,510,456 Credltors: Amounts due after more than one year Grant commitments {39.0001 (21,940) NET ASSETS 2.390 747 2 488 516 FUNDS Unrestricted Restricted 2,386,060 2,483,822 4.697 4,694 2390 747 2 488516 Approved by the Trustees on 25..1..1 l..i..Zc) ZL Slgned on their behaw by.. Baroness Prosser OBE The notes on pages 11 to 18 fomi part of these accounts Page10

THE T.U.U.T CHARITABLE TRUST NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2022 ACCOUNTING POUCIES General Informatlon The T.U.U.T Charitable Trust is an unincorporated trust govemed by a trust deed and r￿IStered with thè Charity Commission in England. Thè prineipal address is Congress House. Great Russell Street. London. WC1 B 3LQ. The objectives of the trust are sel out on page 2. b) Basis of Accounting The financial statement8 nave Deen prepared unuer ine nistorical c08t convention as modffied by the revaluation of investments. The Trustees have complied with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, Accounting and Reporting by Charities.. Slalement of Recrxnmended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (Charitses SORP FRS 102) and the Charities Ac12011. The accounts have been prepared on the going concem basls. The trustees considèr that there are no material uncartainties about the charitls ability lo continue as a going concern for al least ￿e1Ve months from approving the acc£Junts. The most signfficant ar8as of uncertainty that affect the future carrying value of assets held by the charrty are the level of investment retum and the perfomance of investment Ma￿et5. The Irustpes have considered the investment perfomiance during the year and the level of current commttmenls. The charity meets the definrf(ion of a public beneff( entty under FRS 102. The functional curJBncy Of the charity is pounds sterling because that is the currency of the primary eeon¢Jmic enmronmenl in which the charity operates. The financial statements are also presented in pounds slerfing. The amounts in the financial statements are presented to the nearest £. unless olherwse staled. There are no signrficant areas requirtng material jud9emerrt8. estimate8 or a85umptions. The financial slalemenls have been prepared to give a 'true and fairf view and have departed from the Charities {Accounts and Roports) Regulations 2008 only to the extent required to provide a 'true and fair view,. This departure has involved fcAlowng Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Irelarbd IFRS 1021 issued on 16 Juty 2014 rather than thè Accounting and Reporting by Charities.. Statement of Recommended Practice offeGtive from 1 April 2005 whi¢h ha$ since been withdrawn. Cosh Flow The charity has taken advantag of the ex&mplion in the Charilias SORP FRS 1 D2 from the requirement to produce a cash flow statement on the grounds thai rt is a small charity. Page11

THE T.U.U.T CHARITABLE TRUST NOTES TO THE ACCOUNTS {CONTINUED) YEAR ENDED 31 MARCH 2022 dl Consolldatlon Consolidated firwncial ststements have not been prepared because the Trustees consider that the charity and its subsidiary undertakings comprise a small charity group. Therefore, the financial statements represent the position and perfo[Man￿ of the Gharity only. e) Incomg All income is re￿9￿1$¢￿ once charity has entitlement lo the income. il is probable that the income will be received and the amount of inwme r￿eNable can be measured reliably. Donations are recogni8ed when the tru8t has been n0kn.fi￿ in writing of both the amount and sdd8menl date. Interest on fvnds held on deposit is included when receivable and the amount can be Measur￿ reliably by the charity,. this normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dwidend has been declared and nolrficatiort has been receNed of the dividend due. Thks is normally upon notfficalion by our investsment adviser of the dI￿dend yleld of the Investment portfolio. Expendlture All expenditure Is accounted for on an accruals basis. Governance costs crmnprise all costs involving the publitt accountability of the trust and hs compliance with regulation and wod practise. Irrecoverable VAT is charged Bgainst the expenditure heading for which it was incurred. Governance costs are allocated to grant-making actiwties as that is the sole aCtI￿ty of the trust. gl Charltsble donations Liabiliti8s are recognised as expendtiure as soon as there is a legal or Gonstructive obligation committing the trust to that expenditure, it is prtsbable that $6tllèm8nt will be required and the amount of the obligation can be moasured reliably. Donations of an indNidual nature are accounted for as payabl8 when approved by the Tru8te&8. Where the Trustees have agreed lo make annual payments for future years and there are no condftions attached. the full cost is ch8rg8d to 8xp8nditure when appro￿ by the Trustees. Page12

THE T.U.U.T CHARITABLE TRUST NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 MARCH 2022 h) Investments Listed investments are a form of basic financial instrument and are initially recognised at th8ir Iransaclion valu8 and subs8quèntly at th8ir fair value as at the balance sh801 dale using the closing quoted market p￿. Tha invastment in the wholly owned subsidiary company is carried at net asset valLfè, ¥thieh is considered to be equivalent lo its fair value. The subsidiary invests in equity investments which are held at fair value and liquidity cash funds. All gains and losses aré lak8n lo the Sl8t8m8nl of Financial Acliviti&s wh8n th8y arise. R&alised gains and losses on investments are calculated as the drfference between sale8 proceeds and their opening carrying value or their purchase value rf acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the drffar8nc8 b8tW88n tha fair valua al th8 y8ar-8nd and their carrying valu8. R8alis8d and unrealised investment gains and losses are combined in the Statement of Financial ALlivili8s. Cash at bank Cash 8t bank and cash in h8nd includes cash and shDrt term highly liquid investments with a short malurily of three months or less from the date of acquisition or opening of the deposlt or simllar account. FinanGial Instruments The tnjsl only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognlsed al transaction value and subsequently measured at their settlement value. k) Taxauon A8 a regISte￿d charity, the Trust 18 exempt from taxation on certain sources of income and capltal gains. to the extent that these are applled to ils charitable objects. Fund Accountlng Th8 unraBtrict8d fund comprises fundB to b8 used in pursuance of the Trusys obj8Ctw8s at the discretion of the Trustees. Restricted funds rolate to fvnds raised frcffi the Dougla5 Houghton Memorial Fund, which is admini8tered as 8 segmented fund by The T.U.U.T Charitable Trust. Page13

THE T.U.U.T CHARITABLE TRUST NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 MARCH 2022 TRUSTEES REMUNERATION AND RELATED PARTIES No Temun8ratron was paid to any of the Trustees12021'. £nil), nor did they receive reimbursement for any expenses {2021= £nill. No related party transaclion8 were undertBken which requlre dlsclosure under FRS 102 and the Charities SORP FRS 102. The charity did not employ any staff during the current or prior year. AUDITOR'S REMUNERATION 2022 2021 Fees payable for the audi( of the financial stslemenls 5AOO 5,400 2022 2021 CHARITABLE ACTIVITIES Ashanti Developm8nt British Asian Trust Business in the Communty Child Poverty Action Group Children's HospTce South-west Commonwealth Human Rights Inmlative Dogs for Good Education and Employers Education Support Equity Benevolent Fund John Fisher Sehool AsscKiation- Croydon Mcconnel International Foundation Medical Aid for Palestinian8 Mental Health Foundation Musicians Union Ben8vol8nt Fund No Way Trust Place2be Prospect IBECTU) Benevolent Fund Together We Learn Trussell Trust Foodbanks TUC Aid 5,000 10,000 35,000 n,000 10.0(M) 5,000 20.000 5.000 25.000 20,000 15,000 7,fM)O 26,340 16,067 10,000 50,OQO 15.000 20,000 20,000 15.000 4.000 49,880 14,200 44,500 (1,272) 310,080 207,635 Fellowshlp Awards IDHMFI Univer5ty of Cambridge IDHMF) Total Charltsble Donations 310.080 207,635 Pag8 14

THE T.U.U.T CHARITABLE TRUST NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 MARCH 2022 GOVERNANCE COSTS 2022 2021 Audit fee Consultancy fees other expenses Bank charges 5.400 5,400 9.000 132 39 35 16 5.451 14,571 INVESTMENTS Unlisted Listed Total Falr Value At 1 April 2021 Add￿On5 at cost Disposals (Decrease) l increase in value during the year 1,904.738 607,656 2,512.394 49,442 49.442 174,595} 174,595) 17,539 14,809 (2.730) At 31 March 2022 1,902.008 600,042 2.502 050 Net cash released from investments in the year was £74,59512021.' £190,135). Th8 unlis18d investment includes all the issued share capTtal of TU Fund Managers Limited (registered number 00697641), a company registered in England and Wal&s, and its subsidiary company. The wislered offiee of the subsidiary 1$ Congress House, Great Russell Street. London, WC1 B 3LQI. The year-ènd value represents the net assets of TU Fund Managers Gri)up at 31 March 2022. 115 audited accounts to 31 March 2022 show turnov8r of £502,36712021'. £463.379), administrative expenses of £554,15312021.. £487,964). a loss after tax of £46,73012021'. £12,975} and net assets of £1,902,008 (2021.. £1,904,738}. Page 15

THE T.U.U.T CHARITABLE TRUST NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 MARCH 2022 INVESTMENTS (Conunuodl The hislorlc cost of the listed investments held at the yearend was as follows.. 2022 2021 Investment in Unit Trusts 437,680 435 391 Details of any particular inv8slm8nts that arè eonsldered material in the context of the investment portfolio are as follows.. Market Valua 2022 ma￿let Value 2021 77,032 units {2021.' 77.0321 in M&G Gilt & Fixed Interest Income Fund 58,700 units {2021'. 61.3001 in IFSL Trad8 Union Unit Trust 72,095 527,947 76,554 531.102 Th8 main forrn of financlal rlsk faced by the charty is that of volatility in investment markets due to wider ecoii omic conditions. This risk is mitigated by investing in a diversified portfolio and takin9 investment advicè. Investments inolude unrestricted inve8tmènt8 of £2.502,050 {2021.. £2,512,394) and r8Strictad investments of £nil12021'. £nill. GRANT CoMMITME￿rS 2022 2021 Grant Commttments at the start of the year New grant commilmerts charged to the SOFA in the year Grants paid in the year 63,760 110.070 310.080 200,635 {221,0801 1246,9451 Grant commitments at the end of the year 152760 Due in less than one y8ar Due in more than one year 113,760 39,000 41,820 21,940 152.760 63,760 Grant conmitments include unrestricted CLYnmilmenls of £147,94012021.. £58,940) and réstricted commitments of£4,82012021." £4,820). Page 16

THE T.U.U.T CHARITABLE TRUST NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 MARCH 2022 ANALYSIS OF NET ASSETS BETWEEN FUNDS Fund balances at 31 MarGh 2022 are repr&8enlèd by.. Nel Current Investments Assets Llabilftie$ More than one year Total Restricted fvnds Unreslricled funds 4,697 2.502,050 (77.0￿) 4,697 {39,000) 2,386,050 2,502,050 (72.303) 139,000} 2.390.747 The restricted funds r8present thè Douglas Houghton Memorlal Fund, whlch Is to be applied exclusively for the awarding of fellowships for established animal weffare courses or to undertake projects lo further animal weKare. Fund balances at 31 hllarch 2D21 are r@pr8s8nted by: Net Current Investtnents Assets Liabilities More than one year Total R8Strict8d funds Unrestricted funds 4,694 {6.6321 4,694 121,9401 2.483,822 2.512,394 2,512,394 (1,9381 121,9401 2N88,516 Pago17

THE T.U.U.T CHARITABLE TRUST NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 MARCH 2022 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES The full Statement of Financial Activitios for the year ended 31 Marth 2021 18 presented below. Unrestricted Restrictsd Funds Funds 2021 2021 Total Funds 2021 INCOME: Dividends and non-bank interest Bank interest Donations 3,830 3.830 33 150,000 33 150.O¢XI Total Income 153,830 33 153.883 EXPENDITURE: Charitabk activities Other expenses 207,635 14,571 207.636 14.571 Total Expen￿￿Ure 222.2CE 222.206 Net gains on investments 288 150 288,150 Net income 219 774 33 219 807 ReconGiliation of funds: Total funtjs blhvd 1 April 2020 2,264.048 4,6e1 2.268,709 Total funds clfiyd 31 March 2021 2.483,822 4.694 1488.516 Pag818