Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
Charity number 25866S
THE T.U.U.T CHARITABLE TRUST
REPORT AND ACCOUNTS
YEAR ENDED 31 MARCH 2025

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
THE T.U.U.T CHARITABLE TRUST
GENERAL INFORMATION
YEAR ENDED 31 MARCH 2025
TRUSTEES:
S Ferns 08E
Baroness Prosser OBE
M Ouiney
D Sachon
M T Walsh
P Whileman
SECRETARY:
S K Ellis
ADDRESS..
The T.U. U.T Charitable Trust
Congress House
Great Russell Street
London
WC1B 3LQ
BANKERS:
Co-oper3tive Barik plc
PO 80x250
Dell HoLJse
Skelmeisdale
V41N8 6
AUDITORS-
Moore Kin95ton Smith LLP
10 Orange Street
Haymarket
London WC2H 7DQ
CHARITY NUMBER.. 258665
Pa9e 1

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
THE T.U.U.T CHARITABLE TRUST
REPORT OF THE TRUSTEES
YEAR ENDED 31 MARCH 2025
FINANCIAL STATEMENTS
The Trustees present their report and accounts lor the year ended 31 March 2025
The financial statements comply with current statutory requirements, the trust deed and Ihe Slalernenl
of Recommended Practice 'Accounling and Reporting by Charitie5 Icharities SORP FRS 1021.
BACKGROUND AND OBJECTIVES OF THE TRUST
The T.U.U.T Charitable Tiust wa5 established by a declaration ol Trust dated 26 March 1969 1 The
Trust Deed"). The purpose of the Trust was to hold the share5 of the comp3ny now known as TU Fund
Managers Limited ITUFMI, use distributed profits from Ihis, and other sources loi charitable purposes.
The General Council of the Trades Union Congress may. from time lo lirne, by written notice, suggest
to the Trustees charitable causes. which they feel. would benefit from our support. In the absence ol
such, the Trustees shall hold the Trust fund for the benefit of such charitable purposes as they. In their
absolule discretion, see lit
STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE ACCOUNTS
The Trustees are responsible lor preparing the trustees, report and the fin3nci81 statements in
accordance with applicable law and United Kingdom Accounting Standards IUNited Kingdom Generally
Accepted Accounting Practice). Law applicable to charities in England and Wales requires the Trustees
to prepare accounts lor each financial year which give a true and fair view ol the slate of affairs ol the
charity and of the Income and expendituie of the charity. In preparing these accounts, the Trustees are
required to
select suitable accounting policies and apply them consistently.,
observe Ihe methods and principles In the charities SORP.,
make judgements and estimates that are reasonable and prudent",
state whelher applicable accounting standards and statements of recommended practice have been
followed, subject to any departures disclosed and explained In the accounts..
prepare the accounls on the going concern basis unless it Is Inappropriate to assume that the charity
will be able to continue in operation
The Trustees are responsible for keeping sufficient accounting records which clisclose, with reasonable
accuracy. the financial position of the Gharity at any time, and which enable them to ensLire that the
accounts comply with the Charities A¢t 2011, the Charity (Accounts and Reports) Regulations 2008 and
the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity.
and hence for taking reasonable steps lor the prevention and detection ol error, fraud and other
TRUSTEES
The Trustees who served during the year are as follows..
S Ferns OBE
M Quiney
M T Walsh
Baroness Prosser OBE
D Sachon
P Vlhileman
On the retirement of any Trustee. the power of appointing a replacement is normally vested in the
surviving Trustees providing the appointment lakes place within three months.
Page 2

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
THE T.U.U.T CHARITABLE TRUST
REPORT OF THE TRUSTEES ICONTINUED)
YEAR ENDED 31 MARCH 2025
ENQUIRIES
Any enquiries regarding the Trust should be addressed as follows.
Ms S K Ellis
The T.U.U.T Charitable Trust
Congress House
Great Russell Street
London
WG1B3LQ
REVIEW OF ACTIVITIES AND ACHIEVEMENTS AND PUBLIC BENEFIT
Thp trii8tep.% havp given dLie regard lo the Charity Commission's guidance on public benefit when
reviewing the aim and objectives and In p13nning future activities of the charity
All decisions are made by the trustees The trustees give their time fieely and receive no iemuneiation
lor their services.
The aim ol the charity is lo provide benefit to charitable causes as considered appropriate by the
Iruslee5.
The charity s strategy lor 3chieving its slated aims and objectives is to make charitable don21ions lo
causes that would be supported by the trade union movement.
Over the past len years the charity has provided over £2 million in funding to 70+ charities. During the
past year the charity provided ILJnding for £135 530 01 projects, continuing Ils support for charities
working In Many different spheres We try to support charities working directly Io posltively influence
the future ol our children and society. Below are a small sample of the proie¢ls we have funded this
year. a lull list can be found within Note 4 01 the accounts
UK projects
The largest single donation this year1£30,0001 wa5 given to Vauxhall Community Law & InforTnation
Centre who provide a free legal advice seiviGe lo those In the Liverpool City region. Our funding would
be used lo fund a welfare rights case worker for one year lo help those living with cancer lo maximise
their Income and ease the financial burden of su¢h a diagnosis for themselves and their families. This
application was supported by the GMB (North INest & Irish Regionl.
At the other end of the scale came an application from ExeAccess IExÈtèr Community Transport)
whose Four R's Project- Recover. Restore, Re-use, Recycle, set up in 2012 to repair and re-purpose
abandoned mobility equipment had become a Victi￿ ol ils own success as In 2023 It recycled 101
Mobility scooters 177 manual and 27 powered wheelchairs, plus numerous 3 and 4 wheeled walkers,
Zimmer frames and walking sticks foi d15abled people on low Incomes. They asked us lor £1,500
towards new tools they required to help them work more effectively, safely and Dffer a better service to
the disabled in their community, wliich we were happy to provide.
We continLied lo support UK foodb3nks mainly those belonging to the Trussell Trust network
Foodbanks continued to offer a lifeline to thousands during the winter 012024125 as the cost of living
remained high. Foodbaiiks reported increased vi511s from loiv income families where the parents were
in work and many slate pensioners.
Page 3

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
THE T.U.U.T CHARITABLE TRUST
REPORT OF THE TRUSTEES (CONTINUED)
YEAR ENDED 31 MARCH 2025
Ovèrseas projects
Pipal Tree is a UK b35ed charity working lo empower the most di5advant3ged people In the Madhesh
Province of Nepal Iow3rds living productive, fulfilling. and healthy lives through Improving education
and healthcare, offering training opportur)Ilies and by the restoration of the natur31 environment.
Focusing primarily on women and girls the lowest castes, marginalised ethnic groups and people with
disabilities OLJr donation of £13.000 was Used a5 core funding for a BIG GIVE ¢ampaign which resulted
in them receiving pledges ol around £75k for Iheii project lo ir)crease and Improve their Community
Learning Centres. The Cenlres offer non-lormal education to children from the lowest castes, acting a5
a gentle entry point to mainstream education for children who might be lacking in confidence Icommon
In downtrodden familiesl andlor lo support children who are allending school. For the latter group, tutors
give the kind of support with homework that canr)ot be given by parents who are often illiler8le The
tLJtors themselves are college students IA level equivalenll from the same low caste groups who receive
very modest salarie5 that allow them to complele their own edLicalion and progress lo university The
students act as IremendoLJS role models for the children and their families. proving that there can be a
lutuie through education. This application was supported by the 8rilish Dental Association
FINANCIAL REVIEW
D￿rIng tho ycar, the TrvBt rgceivad in¢oMÈ of £106,001 12024.. £8,gg613nd m2do charitabl• don>tions
of £130,710 12024. £419,622). After accounting lor other expenses of £5.471 12024.. £5.47 11 and nel
decrease in value of Investments of £56,265 12024". Incresse of £141 3031 the ac¢umul3led fund
decreased lo £1.642,52512024. £1.729.8801.
The principal funding of the charity Is donations from its subsidiary, the TU Fund Managers Group.
The audited accoLJnts of TU Fund Managerg Group (whose principal aclivily is Ihe oversight and
supervision of ils customers, Investments in both the Aberdeen funds and the IFSL Trade Union Unit
Trustl, which is wholly owned by the Trust. lo 31 March 2025 Show a consolidated105s for the year ol
£52 49212024." profil of £41,873) after making donatlOn5 01 £100,00012024.. £nill lo the Trust, and net
assets of t1.566,82912024'. £1,607,987).
FUTURE PLANS
The Trustees expect lo Continue making charitable donations in future years, but this policy is
dependent on the level ol income generated and upon the Trustees, objective ol maintaining a
continuing Charitable Trust fund.
THE POLICY ON RESERVES
The Trust's income remains heavily dependent on one source ITU FLJnd Manager5 Group) whose
trading gclivilies are 113ble to be affecled by circumstances entirely outside ils control The Trustees
therefore feel il appropriate to maintain a reasonable reserve fund lexcluding the valLJe ol shares In TU
Fund Managers Limited) which will enable the Trust to continue Its work.
At the year-end, the Charity had reserves, excluding the value ol shares in TU Fund Managers Ltd and
reslri¢ted funds. of £66,89812024. £117,072).
The minimum reserve fund the charity needs lo continue its work should equal the amount required to
fund all grants already committed. At the year-end lulure grant commitments tolalled £61.400 12024..
£156.0661
Page 4

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
THE T.U.U.T CHARITABLE TRUST
REPORT OF THE TRUSTEES (CONTINUED)
YEAR ENDED 31 MARCH 2025
REMUNERATION AND LIA81LITY OF TRUSTEES
The Trustees are entitled to reimbursement of expenses incurred in the execution of their duties. The
Trust deed slates that they are 31so to be fully Indemnified out ol the Trust assets against all liabilities
incurred through the execution of their duties. During the year In qLJestion, no such reimbursement or
indemnification has been wade.
APPOINTMENT OF TRUSTEES
The Board of Trustees is authorised to appoint new Trustees to fill vacancies arising through resignation
01 death ol an existing Trustee.
11 1% a requirement of the Trust Deed that all Iruslees musl be trade unionistg. the Intention being to
ensure that causes which benefit should broadly be those that would be supported by the movemelll.
New trLJslees are 2ppoinled following due consideration of the skills and experience required Filfjess
& properness checks are carried out Appointees are made aware of the role of trustee Linder charity
law and are provided with all relevant governance documents and Annual Accounts.
INVESTMENT POWERS & POLICY
The TrLJStees have power to Invest the trust fLinds in such investments as they think fil as il they were
themselves the beneficial owners.
Current policy is lo hold Investments that are of lowlmedium risk that can be liquidated easily as the
need arises Social. environmental. and ethical considerations are not currently applied.
IFSL Marlborough European Fund Iformerly IFSL Trade Union Unil Trust) decreased in value by 6D/
during the year12024'. increase of 3'/DI and MSG Gilt & Fixed Interest Income Fund decreased in value
by 6D/o12024" 4°hl.
Page 5

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
THE T.U.U.T CHARITABLE TRUST
REPORT OF THE TRUSTEES {CONTINUEDI
YEAR ENDED 31 MARCH 2025
CHARITABLE DONATIONS POLICY
Although there Is no legal restriction on the charitable causes that may be awarded grants. the trustees
give priority lo charities that demonslrale a close relationship with the trade union movement, either In
the UK or abroad or which are seeking suppon for objectives which the movement WOLild be likely lo
endorse. It is not normally the Trustees, policy to make grants to individuals lor their own benefit. To
apply for 2 grant, charilab5e organisalions should apply for a Form ol Request and submit this, duly
completed The Trustees meet al least twice a year to Gon5ider requests received.
RISK MANAGEMENT
The Trustees confirm that they have assessed the risks lo which this Charity is exposed.
The Trust holds investments in equities and gilts whose prices it monitors regularly. along with easily
accessible ¢ash investments. which it uses lo maintain the liquidity ol its bank balances.
Though the Trust has only two core donors, TU Fund Managers Limited ITUFMI and TU FLind
Management Services Limited ITUFMSI. the Trustees feel the risks lo which they are exposed are
minimal They are, nevertheless sensitive to the potential risk that ¢ould arise should the Trust's lull
owner6hip of TUFM and TUFMS be reducod. Onè 2r&a whgrg the Tr￿￿t he viilnprahlÈ is in
anticipating income from TUFM 3r)d TUFMS. The trustees are regularly kept up to dale by the directors
of TUFM and TUFMS of any matter5 01 interest to them
Approved by the Trustees on". 2.1..1.01. 1.2fj.
Signed on their behalf by..
David Sachon
Page 6

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE T.U.U.T
CHARITABLE TRUST
Opinion
We have audited Ihc financial statements ol The T.U U.T Charitable Trust loi the year enJed 31 March
2025 which cornprise the Statement ol Financial Aclivilies, the Balance Sheet and the related notes
including significanl accounting policies. The finanGi81 reporting framework that has been applied in their
preparation Is applicable law and United KingdDm AccountiTrg Standards, including FRS 102'The Financial
Reporting Standard Applicable In the UK and Republic of Ireland Iuniled Kingdom Generally Accepted
Accounting Praclicel.
In our opinion. the financial statetnenls.
give a true and fair view of the stale ol the charity's affairs as al 31 March 2025, and ol ils
incoming resources 2nd application of resources, lor the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice.. and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinlon
We conducted OLJr audit in accordance with International Standards on Auditing IUKI IISAS IUKII and
applicable lav¢. Our responsibilities under those standards are further described in the Auditor's
Responsibilities for the 2udit of the financial statements so¢lion ol our report We are Independent of the
ch3rily In accordance with thE elhiGal requirements that are relevant lo our audit ol the financi31 statements
In the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained Is sufficient
and appropriate lo provide a basis for our opinion
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern ba515
of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed. we have not Identified any material uncertainties relating to events
or conditions that, Individually or collectively, may Gasl significant doubt on the chsrity's ability to continLJe
as 3 going concern for 3 period of al least trwelve months from when the financial statements are authorised
for Issue
Our responsibilities and the responsibilities Df the trustees with respect to going concern are described In
the relevant seclions ol this report.
Other Information
The other Information comprises the Information included In the annual report. other than the financial
statements and our 3udilor s report Ihereon The Iruslees are responsible lor the other information
onlained within the annual report Our opinion on the financial staleiiients does not cover the other
information and, except lo the extent otherwise explicitly stated In our report, we do not express any foim
of 2ssuiance conclusion thereon.
Our responsibility is lo read the other information and, in doing so. consider whether the other information
is materially Inconsistent with the financial slalemenls or our knowledge obtained In the course of the audit
or otherwise appeals lo be materially misstated 11 we Identify such material inconsistencies or apparent
maleiial mis8tatements we are required to determine whether there Is a malerial misgtalemenl in the
financial 5tatemellls themselves If, based on the work we have performed. we conclude that there is
material misslalemenl ol this other inlormaliDn, we are required lo report that fact.
VQe have nothing to report In this regard.
Page 7

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE T.U.U.T
CHARITABLE TRUST (CONTINUED)
Matters on which we are required to report by exception
We have nothing lo report in respect of the following matters where the Charities Aet 2011 requires to
report to you if, in our opinion..
the information given In the trustees, report is inconsistent in any material respect with the financial
statements.. or
the charily ha5 not kept adequate accounting records". 01
the financial statements are not in agreement with the accounting records, or
e have not received all the information and explanations we require lor our audit.
Responsibilities of trustees
As explained more lully in the Trustees, Responsibilities Statement Set out on page 2. the Iruslees are
responsible for the preparalion of the fin3ncial statements and for being satisfied that they give a true and
lair view, and for such Internal control as the Iruslees determine Is necessary lo enable the preparation of
financial statements that are free from material misstatement, whether due lo fraud or error.
In preparing the financial stalernenls. the trustees are responsible for assessing the charity's ability to
continue as a going concern, disclosing as applicable, mallers ielaled to going concern and using the
going Goncern basis ol accounting unless the trustees either intend to IiqLJidate the charity or lo cease
operations. or have no realistic alternative but to do so
Auditor's responsibilities for the audit of the financial statèments
We have been appointed as auditor under seGlion 145 01 the Charities AGI 2011 and report in accordance
with regulations made under section 154 of that Act.
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are
free from material misslatemenl whether due lo fraud or error, and to issue an auditor's report that includes
our opinion. Reasonable assurance is a high level ol assuiance, bul Is not a guarantee that an audit
conducled In accordance with ISAS IUKI will always delect a material misstatement when Il exists.
Misstalementg can arise from fraud or error and are considered material il. individually or in aggiegate,
they could re3sonably be expected to influence the economic decisions ol users taken on the basis of
these financial statements.
As Part of an audit in accordan¢e with ISAS IUKI we exercise professional judgement and maintain
professional sceplicism throughout the audit. We also
Identify and assess the risks of material misslatemenl ol the financial statements, whether due to
fraud or error, design and perform audit procedures responsive lo those risks, and obtain audit
evidence that is gufficienl and appropriate lo provide a basis for our Dpinion. The risk ol not detecting
a material misstatement resulting from Iiaud is higher than foi one resLilting from error, as fraud may
Involve Gollusion. forgery, intentional omissions, misrepresentations, or the override ol internal
control
Obtain an understanding ol internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances. but not loi the purposes of expressing an opinion on the
effectiveness ol the charity's Internal control.
Evaluate the approprialene5s of accoLJnting policies used and the reasonableness of accounting
estimates and related disclosures made by the trustees
Page 8

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE T.U.U.T
CHARITABLE TRUST {CONTINUEDI
Conclude on the appiopriateness ol the trustees, Ljse of the going concern basis of accounting and.
based on the audit evidence obtained, whether a material uncertainly exists related lo events or
conditions that may cast significant doubl on Ihe charity's ability lo continue as a going concern If
we conclude that a mater131 uncertainty exists we are required lo draw attention in our auditor'5
report lo the related disclosures in the financial slalemenls or. Il such disclosures are Inadequate,
lo modify our opinion. Our conclusions ale based on the aLJdit evidence obtained up to the date ol
our Auditor 5 report. However, fulure events or conditions may cause the charity lo Cease lo continue
2S 2 going ooncern.
Evaluate the overall presentation. stiucture and content ol the financial st31emenls. including the
disclosures, and whether the financial sl2tement5 represent the underlying transactions and events
in s manner that achieves fair presentation.
We commLJnicale with those charged with governance regarding, among other matters, the planned scope
and timing ol the audit and significant audit findings, including any Significant deficiencies in internal control
that we Identify during our audit
Explanation as to what extent the audit was Considered capable of dètetting irregularities.
including fraud
Irregularities, including IraLJd, are instances of non-compliance with law5 and regulations. We design
procedures in line with our responsibilities, outlined above, lo detect material misstatements in respect of
irregularities. Includino fraud. The extent to which our piocedur&s are ¢ap¥ble ol detecting Irregularitleg,
including fraud Is detailed below
The (>bje¢lives of our audit in respect of fraud, are". lo Identify and assess the riskg ol material misstatement
of the financial statements due to Iraud. to obtain sufticienl appropriate audit evidence regarding the
assessed risks of material mis5tatemenl due to fraud, through designing aiid implemenling appropriate
responses lo those 2sse55ed risks." and to respond appropriately to Instances of fraud or SLJspected fraud
identified during the audit However. the primary responsibility for the prevention and detection of fraud
rests with both management and those charged with governance ol the charity.
WE obtained an understanding of the charity's aclivilies, controls and laws and regulations and
assessed the susreplibilily of the charity's financial statements lo Tnaterial misstatement from
irregLJlarities including fraud.
We determined that Ihe13ws and regulations that are most significant lo the charity are the Charities
(Accounts and Reports) Regulationg 2008, the Charities Act 2011, the Fin3ncial Reporting
Standard applicable In the UK and Republic of Ireland IFRS 1021, Accounting and Reporting by
Charities.- St3lemenl ol Recominended Practice applicable lo Charities preparing Iheii accounts In
accordance with the Financ131 Reporting Standard applicable In the UK and Republic of Ireland
IFRS 1021 Icharities SORP FRS 1021 anLI the Trust Deed
Based on this Ljnderstanding we designed our aLidit procedLJres lo detecting irregularities. Including
fraud. Testing uiidertaken included making enquiries ol those charged with governance", journal
entry testing" review of bank letters, trLJStees' meeting minutes and governing document. reviewing
financial statement disclosures and testing to supporting documentation to assess compliance with
applicable laws and regulations. These procedures were designed to provide reasonable
assurance that the financial statements were free from fraud or error.
There are Inherent limitations in the audit procedures described above. We are less likely to become aware
ol Instances of non-coinpliance with law5 and regulations that are not closely related to events and
transactlOn5 reflected in the financial statements. Also, the risk ol not detecting a material misstatement
due to Ir2Lid Is higher th3n the risk ol not detecling one resulting from erfor, 3s fraud may involve delibeiale
concealment by. for example. forgery or Intentional misrepresentations, or through collusion.
Page 9

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE T.U.U.T
CHARITABLE TRUST (CONTINUED)
Use of our report
This report is made solely to the charity's trustees. as a body, in accordance with Chapter 3 of Part 8 of
the Charities Act 2011 Our audit work has been undertaken so that we might slate to the charity 5 trustees
those mallers we are required to slate to them in an auditor's report and lor no other purpose. To the fullest
extent perrmitted by law, we do not accept or assume responsibility to any party other than the charity and
charity's trustees as a body. for our audit work, for this ieport, or for the opinion we have formed
81gTh•d by..
ntsoYL SMIIL
7855AS3BEF944F5
Moore Kingston Smith LLP
Statutory Auditor
10 Orange Street
H3ymarket
London. WC2H 70Q
291112026
Moore Kingston Smith LLP is eligible lo act as auditor in terms of Section 1212 01 the Companies Act
2006.
Page 10

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
THE T.U.U.T CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 MARCH 2025
Notes
UnrÈslriGted Reslricled
Funds
Funds
Total
Funds
2025
Totdl
Funds
2024
INCOME..
Dividends and non-bank interest
Bank interest
Gift aid donation from subsidiaries
4,934
4.934
157
100,000
6,885
157
100,000
Total Income
104,934
157
105,091
EXPENDITURE..
Charitable activities grants
Charitable activities governance
135.530
5471
14,8201
130,710
419,632
Total Expenditure
141 001
4.820
136,181
425.103
Net lexpenditurel I Income before
Ilossesl I gains on investments
136.0671
4,977
131,0901
1418,1071
Net Ilossesl I gains on investments
141 303
Net lexpenditural l income
92.332
4.977
276,804
Reconciliation of funds..
Total funds blfwd 1 April 2024
1,725.059
4,821
1.729.880
2.006.684
Total fund5 clfwd 31 March 2025
1.632.727
9,798
1,642,525
1,729,880
Th8 notes on pages 13 to 20 form part of these accounts.
Page 11

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
THE T.U.U.T CHARITABLE TRUST
BALANCE SHEET
YEAR ENDED 31 MARCH 2025
Note5
2025
2024
FIXED ASSETS
Investments
1,708,484
1,877,671
CURRENT ASSETS
Cash at bank
877
13,711
Creditors.. Amounts due within one year
Grant commitments
Other credilois - accrua15
161,4001
15,4361
1144.5661
15.436
166,8361
1150,0021
NET CURRENT LIABILITIES
165.9591
1136,2911
TOTAL ASSET5 LESS CURRENT LIABILITIES
1,642,$25
1,741.380
Creditors= Amounts due after tnore than one year
Grant commitments
111,5001
NET ASSETS
1.642.525
1,729,880
FUNDS
Unreslricled
Resliicted
1,632,727
9,798
1.725.059
4.82 1
1,642,525
1,729,880
Approved by the Trustees on 21 1 .0.1.1.26.
signed on their behalf by..
David Sachon
The notes on pages 13 to 20 form part of these acGounts.
Page 12

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
THE T.U.U.T CHARITABLE TRUST
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES
General Information
The T.U U T Charitable Trust Is an unincorporated trust governed by a trust deed and
registered with the Charity Commission In Enoland The principal address is Congress House.
Great Russell Street, London, WC1 B 3LQ. The objectives of the trust are set out on page 2.
The charity meets the definition of a public benefit entity undei FRS 102.
bl
Basis of Accounting and going concern
The financial statements h3ve been prepared under the historical cost ¢onvenlion as modified
by the revaluation of investments. The TrLislees have complied with the Financial Reporting
Standard applicable in the UK and RepLJblic of Ireland IFRS 1021, Accounting 2nd Reporting
by Charities Statement of Recommended Practice applicable lo Charities pieparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic ol Ireland IFRS 1021 (Charities SORP FRS 10218nd the Charilies Act 2011
The financial statements h3ve been prepared to give a 'true and f2ir' view and have departed
from the Charities (Accounts and Report51 Regulations 2008 only lo the extent required to
provide 3 'true and lair view. This departure has Involved following Accounting and Reporting
by Charities preparing their accounts In accordance with the Financial Reporting Standard
applicable IN the UK and Republic of I reland IFRS 1021 issued In October 2019 rather than
the Accounting and Reporting by Charities Statement of Recommended Practice effective
from 1 April 2005 which has since been withdrawn
The accounts have been prepared on the going concern basis The tiustees consider that
there are no material uncertainties about the charity's ability to continue as a going concern
lor at least twelve months from approving the accounts. The most significant areas of
uncertainly that affect the future carrying value ol assets held by thp c.harity 3re the level ol
Investment return and the performance of Investment markets The trustees have considered
the investment perforrllance during the year and the level of current commitments
The accounting policies have been applied consistently in the current and preceding year.
The functional currency of the charity is pounds sterling because that is the currency of the
primary economic environment in which the charity operate5. The financial statements are
also presented in pounds sterling.
The amounts in the financi81 statements are presented lo the nearest £. unless OtheNiise
Staled.
The main significant aiea requiring material iudgerllents, estimates or assumptions Is the
valLiation of the subsidiary company See i)ole 1 Igl.
The charity has taken advanlage of the exemption In the Charities SORP FRS 102 from the
requiretnent to produce a cash flow statement on the giounds that It is a small charity
Consolidation
Consolidated financial slatemenls have nol 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 performance ol the chaiity only.
Page 13

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
THE T.U.U.T CHARITABLE TRUST
NOTES TO THE ACCOUNTS {CONTINUEDI
YEAR ENDED 31 MARCH 2025
dl
Income
All income is recognised once the charity has entitlement to the income. It is probable that the
income will be received and the amount of income receivable can be measured reliably.
Donations are recognised when the IrLJsI has been notified In writing of both the amount and
selllement dale.
Interest on funds held on deposit is included when receivable and the amount can be
measured reliably by the charity, this is normally upon notification ol the interest paid or
payable by the bank
Dividends are recognised once the dividend has been declared and notilicalion has been
received of the dividend due. This is normally upon notification by our inve51menl adviser of
the dividend yield of the Investment portfolio.
Expenditure
All expendituie Is accounted lor on all a¢cruals basis.
Governance costs comprise all costs involv5ng the public 3ccountabiliiy of the trust and it5
compliance with regulation and good practice Irrecoverable VAT Is ch3rged against the
expenditure heading lor which il was incurred.
Governance oosls are allocated to graDI-m3king activilies as that Is the sole activity ol the
trust.
Charitable donations
Liabilities are recognised as expenditure as 500n as there is a legal or constructive obligation
committing the trust to that expenditure. il Is probable that sertlemenl will be required and the
amount of the obligation can be measured reliably.
Donations of an Individu21 nature are accounted for as payable when approved by the
Trustees.
Vvhere the Trustees have agreed to make annual payments for future yèars and Ihere ale no
conditions allached. the lull cost Is charged to expenditure when approved by the TrLJStee5.
Page 14

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
THE T.U.U.T CHARITABLE TRUST
NOTES TO THE ACCOUNTS ICONTINUEDI
YEAR ENDED 31 MARCH 2025
gl
Investments
Listed investments are a form ol basic financial instrument and are initially recognised al their
transaction value and subsequently at their fair valLJe as at the balance sheet date Lising the
closing quoted market price.
The Investment In the wholly owned subsidiary company is carried at net asset value, which
is oonsideied to be equivalent to ils fair value. The subsidiary invests in equity Investments
which are held al fair value and liquidity cash funds.
All gains and losses are lakeil to the Statement of Financial Activities when they aiise.
Realised gains and losge5 on investments are calculated as the difference between sales
proceeds and Iheii opening carrying value or their PLJrchase v31ue If acquired subsequent to
the first day of the financial year. Unrealised gains and losses are calculated as the difference
between the fair value at the year-end and their carrying value Realised and unrealised
investment gains and losses are combined in the Statement of Financial Activities.
Cash at bank
Cash at bank and cash In hand includes cash and short term highly liquid investments with a
short maturity of three months or less from the dale ol acquisition or opening ol the deposit
or similar account
Taxation
As a registered charity, the Trust is exempt from 13xalion on certain sources of income and
capital ga1ns. to the exlenl that these are applied to its charitable obiects.
kl
Fund Accounting
The unrestricted ILJlld Gomprises funds to be used in pursuance of the Trust's objectives at
the discretion of the Truste&s.
Restricted fund5 relate lo funds raised from the Douglas Houghton Memorial Fund, which is
administered as a segmented fund by The T U U T Charitable Trust.
TRUSTEE5 REMUNEFIATION AND RELATED PARTIES
No remuneration was paid to any of the Trustees12024". £nill, nor did they receive reimbursement
for any expenses12024." £nill.
No related party Iiansaclions were undertaken which require disclosure under FRS 102 and the
Charities SORP FRS 102
The charity did not employ any staff during the current or prior year.
Page 15

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
THE T.U.U.T CHARITABLE TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
YEAR ENDED 31 MARCH 2025
AUDITOR'S REMUNERATION
2025
2024
Fees payable for the audit of the financial statements
5,400
5,400
2025
2024
CHARITABLE ACTIVITIES
Action on Asbestos Scotland
Alexander Divine Children's Cancer Trust
Book Bus FoLJndation
Brunswick Youth & Community Centre
Child Poverty Action Group
Children's Heart Foundation
DocBike
Dogs lor Good
Exe Access IExeter Community Transporti
Fairtrade Found3tion
Friends of Young Carers Iswindonl
He%t13 HoLising and Support
Just Foi Kids Law
Medical Aid for Palestinians
Mental Health Foundation
Mcconnell International Foundation
Nightingale Cancer Support Gentle
People's History Museum
People's Pantry Ellesmore Port
Pipal Tree
Place2be
Together Vve Learn
UK Foodbanks
TUC Aid
Slanney Grange Gormmunity Association
Sl ColLJmbia 5 H05pice Care
Vauxhall Communily Law & Information Centre
2.500
5,000
35.000
2,000
39,000
10.000
8,400
5,000
1,500
12,000
5,000
4,280
10,000
20,000
23,000
33,000
23.300
18,350
75.000
500
13.000
30.000
15000
47,500
36,332
500
5,000
45,000
30,000
135,530
419,632
Fellowship Award5 IDH MFI
University of Cambridge ICAVVSELI
14,8201
130,710
419.632
The nature and type of a¢livily or project supported by the chaiily Is wide The charity does not
support a particular activity, bLJt instead the trLlStees have the dis¢retion lo support a wide range of
activities 3nd projects that would be supported by the trade union movement. The charities Ihal the
trustees supported dLJring the year ale listed above.
Page 16

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
THE T.U.U.T CHARITABLE TRUST
NOTES TO THE ACCOUNTS {CONTINUEDI
YEAR ENDED 31 MARCH 2025
GOVERNANCE COSTS
2025
2024
Audit fee
Other expenses
Bank charges
5,400
35
36
5,400
35
36
5,471
5,471
INVESTMENTS
Unlisted
Listed
Total
Fair Value
At 1 April 2024
Purchases
Disposals
Decrease In value during the year
1.607,987
269,684
1.877.671
100,320
100 320
1213,2421 1213,2421
115,1071
156 2651
141.1581
At 31 March 2025
1 566 829
141 655
1 708 484
The unlisted investment Includes all the issued shale capital ol TU Fund Managers Limited
Iregislered number 006976411. a company registered In England and Wales, and its subsidiary
company, TU Financial Management Seroices Limited (registered number 065559031, a company
registered in England and Vlales. The registered office of these subsidiaries is Congress House.
Greal Russell Street, London, VVC18 3LQI. The year-end value represents the consolidated net
as5els ol the TU Fund Managers Group al 31 March 2025. Its consolidated audited accounts to 31
Mareh 2025 show turnover of f 399.952 12024.. £403,6041 adminislralive expenses of £461,898
12024 £371.0231, a 1055 after tax of £52.492 12024". profit after tax £41 8731 and net assets of
£1,566.82912024. £1,607,987)
Page 17

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
THE T.U.U.T CHARITABLE TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
YEAR ENDED 31 MARCH 2025
INVESTMENTS (Continued)
The historic cost of the Iisled investments held al the year-end was as follows:
2025
2024
Investment in Unit Trusts
131.483
215.116
Details of any particular investments that are considered material in the Gonlext of the investment
portfolio are as follows.
Market
Value
2025
Maiket
V21ue
2024
77,032 unils12024". 77.0321 in M&G Gill & Fixed Interest Income Fund
9.100 units12024". 20,6001 in IFSL Marlborough European Fund
53.522
88,133
56,680
213,004
The main form of financial risk laced by the charity is that ol volatility In Investment markets due lo
wider economic conditions. This risk is mitigated by investing in 8 diversified portfolio and taking
investment advice.
Investments include unrestricted investments of £1,708,48412024". £1,877.6711 and restricted
investments of £nil12024-. £nill.
GRANT COMMITMENTS
2025
2024
Grant commitments al the start of the year
New grant commitments charged lo the SOFA In the year
Reversal of unused grant commitments
Grants paid in the year
156,066
13S,530
14,8201
1225,3761 1588.5861
325,020
419.632
Grant commitments al the end of the year
61.400
156,066
Due in less than one year
Due in more than one year
61,400
144,566
11.500
61.400
156,066
Grant commitments include unrestricted commitments of £61,40012024.. £151,246) and restricted
commitments of £nil12024 £4.8201.
Grant commitments of £4.820 were awarded in JLJne 2019 to University ol Cambridge ICAWSELI
students studying animal welfare courses. These courses did not take place due lo COVID-19 and
theieloie the grants have been withdrawn
Page 18

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
THE T.U.U.T CHARITABLE TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
YEAR ENDED 31 MARCH 2025
ANALYSIS OF NET ASSETS BETWEEN
FUNDS
Fund balanee5 at 31 March 2025 are
represented by".
Net
Current
Assets
More than
one year
Investments
Total
Restricted funds
Unre51ricled funds
9.798
175,757)
9,798
1,632,727
1.708.484
1.708,484
65.959
1.642,525
The restricted funds represent the Douglas Houghlon Memorial FLJnd, which 15 to be applied
exclusively lor the awarding of fellowships lor established animal welfare COLJrses or to undertake
projects to lurther animal welfare.
Fulld b31ances al 31 March 2024 are
represented by".
Net
Current
Assets
More than
one year
Investments
Total
Restricted funds
Unrestricted funds
4,821
4,821
{11,5001 1,725,059
1,877,671
1,877,671
1136.2911
(11,5001 1,729,880
Page 19

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB
THE T.U.U.T CHARITABLE TRUST
NOTES TO THE ACCOUNTS (CONTINUED)
YEAR ENDED 31 MARCH 2025
COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES
The full Statement ol Financial Activities lor the year ended 31 March 2024 is presented below..
Unrestricted Reslricled
Funds
Funds
2024
2024
Total
Funds
2024
INCOME..
Dividends and non-bank interesl
Bank inteiesl
6.885
6,885
111
Total Income
6,885
6,996
EXPENDITURE..
Charitable activities
Other expenses
419,632
5,471
419,632
5,471
Total Expenditure
425,103
425 103
Net gains on investments
141 303
141 303
Net lexpenditurel l incom8
276,915
276 804
Reconcilialion of funds..
Total funds blfwd 1 April 2023
2,00 1,974
4,710
2.006,684
Toial funds clfwd 31 March 2024
1,725.059
4,821
1,729,880
Page 20

Docusign EnvelopÈ ID". 2FFAC5D3-74114FC3-850C-64C11D7DB3DB