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 t*nefici81 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