Do0 Envelope10.. 9494C19F-gE4A4E68-A4184118DA1O9E2 Charity Number: 259963 PETER MINET THE PETER MINET TRUST REPORT ANO FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 RPGCC Chartered Accountants 40 Gracechurch Street London EC3V OBT
Duoi Enydope ID.. 9494Gl9F-yE4A4E6&A41IaOA109s92 THE PETER MINETTrU8T CONTENTS Page Reference Bnd adrninslrative detsils of the chartty. its Trustees and advbsers Report ofthe Board ofTrustees 2-11 Statement of Responsibilities of the Board of TTusI888 12 Ind8P8ndent Audllor's Raport 13-14 Staternenl of Financial Actlvltles and Incorne & Expendibjre Arxounl 15 Balan Sheet 16 Noley lo the FinancSal Stalem8n18 17-21
Docusign Envelope ID.. 9494C19F-9E4A4E66-AA18-018Q>A10959EZ THE PETER MINeT TRUST REFERENCE AND ADMINISTRATIVE DETAJLS OF THE CHARrrY Tru4tee$. 8laff, advlsers and reglstered offi For Iho year ended 30 Septemb•r 2025 Tru5tqq• Georgina AOnor-GLd0n Damil018 88fflido19 Tracey Fletcher ICh8lrl Thomas Gaar Joseph Howell Patricia Okonkwo (resne 20 March 20251 Anne Young Ir88ignod 20 Novembar 20251 Olr•ctor Rach81 Ogl8lhorp8 R•gl•t•r•d AddMs• Mar6hall Hw8• 66 N8bvcomen Street London SE11 Audltov• RPGCC ChartBred Accountants 40 Gr8c8churd) Street Lond[ EC3V OBT 8oll¢ltor• Stone lfj'ng LLP Boundary Hou88 91 Charterhouse Str•Ot Ld0 ECIM 6HR Bank•r• M8ssr8 C, Ha8ro & Co. 37 Fleel Street London EC4P4DQ Inv•s¢m•nt Manag•r• SBrasln & Partners UK 50 Georgè Str88t LLdOn W1U 7DY Re9lst•r•d Charfty No 259963 web1*
LSIgN Envdope ID.. 9494C19F-9E4HEfjfj-AA1&016DA10959E2 THE PETER MINET TRUST REPORT OF THE TRUSTEES A. Aims and Objectives B. Achlevement and Performance C. Financlal Review D. Gfanls E. Structure. Govèmance and M8nagernenl AIMS ANO OBJECTIVES Obloct¥ of Trust: Peter Mlnel Trust is a 8¢8-baSed funder supporung small, local and in5plring org8ni58b.ons rooted in the Lonthn Borouohs of Lambeth and Southwark lo strengthen thelr communities, Trnxt DMd: The Peter Mlnèl Trust Ilhè Trusl'l was founded in 1969 by Mr Pèter Brissaull MSn8t for gèneral charitable purposes, and is govemed by a Twsl Deed daled 13th October 1969. as altered or affected by a Scheme of 15th Decèmber 1998. Publlc B•n•ftt: Trustees confirm they have conSered the Charlly Cornm18slon's guldan¢e on publlc benefit when reviewlng and delwering the Trust's airns, strategy and 8Ctlvlties. Our publlc benefll is delivered through tsur grantmaking to Ioc81 UK Re9iStered Ch8rlll8s 8nd Communily Interest Companies ICICS) Limited by Gu8r8nle8, pursuing ch8rilable activities In thalr communi118s in Lambelh and Southwark. Our prèferen is to award Unre9ClOd, mulli-year grants as we beli8ve Ihl$ enables organisalions lo dèliver w)rk as flexibly ond effectively os they can and drlve positive change In their Communities. 8. ACHIEVEMENTS ANO PERFORMANCE Pelar Mlnet Trust has dèllver8d its aims through ils granlmgklng and18Brnlng, Its work th other5 In Lamb8th and Southwark and ils invsslment policy, underpinned by hs people, strong governance and operations. Our work Is guid8d by our values.. Community, Lèarning, Trust and Soclal Justice Wa rèmain ¢ommilt8d to further embedding Dlverslty. Equlty and Incluslon Into all aspacts ol our funding, strategy and operations. We will continue 101è8m from the Black-led charlties and CICS Pgt8r Mlnel Trust fund5 8fbd rèspond proacllvaly to racial Inequallty in a way that Invdves th& voiea of Black and Mlnorilised- led groups, 8dvlsors 8nd lunders P•t•r Mlnot Tru•t Stratègy 2025-2028 Peter Minet Tru51 published Its new thre8-yeor Strategy in March 2025, Inc1J1n9 8 refreshed v1510n. ml55ion, value5 Btrenglhened strategic alms. After car8ful conslder8llon, learnlng and strategie planning, we made the d81iberate and important deciglon to direct all our fLtnding to Bl8ck-led orgxnisatlons in Lamb&th and Soulhwark. As a re181ively small trust allocatlng around £250.000 annually, we want to ensure that our resources are us8d to tackle raclal inlustlce. By centering our efforts on raclal equrty, we alm to support the organisalions drivlng change at th& heart ol our communllles. Peter Mlnel Trust Is proud Ir) take Ihls new strategic direcllon and remains committed to buildlng stronger, more incluglve communities In Lambeth and Soulhwark alongside our p8rtners. with humlllty and ho. We would Ilke lo thank our funded Partners lor Iheir valuable insights. experience and wsdom that infom)èd our new slr8logy, as well Kate Chester at AnSmo Leadership for her guidance. facilitauon and support.
t>ocu8vJn EnlOpe10." 9494C1gF-9E4A4e66-AA1B-0180A10959E2 Str8te9y 2022028- summary Vlslon Black-led community organi58tions in Lambelh and Sthwark have power, Aoency and funding io drive positive change in their cornmunities. What we do We offer funding to Black-led organisalions, we collaborate lo crea18 a more equitÈble society In Lambeth and Southwark, and wtr manage our iwivestmen15 rèsponSiy. Our stral•gle alms.. 1.our grantmaking - anhance acce551bility, faime85 8nd impact ol our funding 2.our work th others in Lamb8th and Soulhwark- strengthen th8 local 8eosyslem of support 3.our Inv85tm8nt policy- slr8ngthen financi81 steward5hlp and resllieD¢B for sustainable impact Our strateglc 81ms are underpinnèd by our 0p1a. our governance and our operotions, Including Board leodershlp 8nd management, risk managemont. flnanci81 management and training. Our values Communlty- we lake tlrno lo [sten to Ihe Ilvgd experiences of local communities to shapè our granlmaklng and match the needs of our exlsllng and future partners L•amlng - we commlt to a cultura where we seok beller lo undèrstand the oxpertise of our funded partners, share our knoedg9 croatlvely, are op8n to changè and challengo ourselves conUnually to identbfy and address ovr bi8ses Trust- we bLJlld Irust through actlve118tenlng. responding compasslonal&ly and flexlbly, being transpar8nt In our declslons and acces8lble lo our parinèrs Soclal Ju•tSce - we are proacllve In challen9ing systems ol oppr&ssion that have created and conllnue to cré8le ineqully lor our parlner8 You can read a massage frorn ¢JJr Chair. Tracay Fletcher and the lull documonl on WWW.P8lerThlnel.org.uklabouVstrategy-2025-20281chalrs-Tlless8ge D•llverfng our Stft•gl¢ Alms.. 1.Strat•glr Alm No. l- Our Grantmklng and L•arnlng Op•n Fund Round 2: 2022.2026.. unr•$trlet•d, multlw•8r grant¥ to small charltl•8 In Lamb•th and Southviarki prlorltl8lng Black-led groups Peter Mln6t Trust continued lo fund Seven Partners In 2025 lor the thlrd of the4r Ihre8-year agreements. We take an 'op8n and trugtlng, approach to funding and reflect on what we learn, lurnlng1tr8rning inio aclion whèn we can. Th8 Dlrector and Trustees met Portners regularly, learning about (heir work in communities, th8 challenges thèy are 8xperi&nclng and the dKference unrestricted lundlng is maklng. In responstr lo this 18arning the Board made the following declsions- 11 Year 3 Mnewal grAnts lInk to Inflatlon - wè complelod the renewal of Year 3 grants to Ihè remaining iwo out ol seven Partners, applying Ihe rale of CPI as al May 202412.8Vol 111 Addltlonal Year 4 grants- the Board committed to additlonol one-ye8r grants lo Round 2 Partners In response to18amlng about imrnedi8le funding challenges, urgent needs of the communltiès they support, 8nd the value wè placed during the period on their expertise that directly contributed to our new strategy. We completed the renewal of Year 4 grants to five of our seven Partners for the pBrh)J September 2025 to August 2026 and expect lo renew the remaining two ShOY after the year end.
DDcu*grt Envdop8 ID." 9494C19F-9E4A4E6S-AA1)8oAlo959E2 Opèn Fund Round 3.. 2025-2028- unrestrlctod multl-yèar grants to small 81ack-led Charities and CICS Limlted by Guorantee In Lambeth and Southwark We opened 8 new funding round in July 2025 Ihat reflected our commilment to fundir¥J small, local Black- led organisatlons embedded in their communit185 in Lambeth and Southwark. We (x)ntinued to be open to UK R8glslered Ch8rities and also opaned OLJr fund to CIC$ Limited by Gu8ranlee lor the first time. We r8lreghed our communications, funding proeesses and decision-making, and shared more Inlomiation with applicants including at a Meet the Funder webinar hosted by Gommunily Southwa¥k. Tha Trusl's Board will make award decisions in Mareh 2026, followlng vislt5 lo shortliBled applicants. Cas• Studl•s: Stotl•s from three of our Op•n Fund Round 2 funded Partn?rs: Al vlslls to Peter Minel's P8rtners, we188mt how they are dèllvering inspiring grassr1$ work in their communities 8nd you can read here about three of our Round 2 Partners.. Juvenis. Spring Community Hub and Your Story.. You can re8d About our other Partners, Bright Cenlres, CEF Lyncx, Southside Young Le8ders Academy ISYLAI and Southwark Day Centre lor A5uM Seekers on vJww.peterminet.org.uk. Thank you 10 Staff. Truslees and voluntgers at our Partners who have shared stories and given tlme to meel us Juv•nl• A grassroots orgjnlsatlon In Lamb•th whos• vision l• a luture wher• all young London•rs have mor• than one chancg to fulfll th•lr pot?ntlal Juvenis is a giassroots youth charity in Lamb8th lad by Ils found8f, Winston Good8. committed lo empowering yr)ung peoplè to lead wllh conlldgnce, crealivbty and cultural pride. A committed team of hlghly trained speclallst slaff, peer Menr$ and thosg bwth lived èxp8rienc8 deliver Ihp work across the organisallon. Juveni8 Support young peL)pla across multiple domalns of their15vo8, Induding ment81 heatth and wellbelng, idenllty and belonuing, education and employability, Violence and exploitslion prevention, and communlty relnlegralion. Our approach is groundad in relational practice, long-term eng8gemenl, and a deep understanding of the social. raciBI, and systemic contèxts shaping young paople's IIve8. www. uvenls.or ..Peler Mln8t TnJst und&rslsnds th81 funding should be boul empowerment, nol control. They respecl our gXP8rtlse and Iiv8d experienc&. knong Ihal we ar8 bèst p18eed to sljape the solulions our young peopl8 and lamille8 need. Th8ls why Ihelr support goes b8yontS In8nci81 baGking,' Ils 8 partnership built on mulual rfjspect &nd a shar8d vlsion for a bettèr futu.. . Winston Good&, CEO (Photo Gr8dll.' J&m&s Hopklrt() What we dellv•r Early interventlon and preventlon programm?$ addressing violènce, exclusion, and crimSnalisalion, strong focus on resilience. emotional regulalion, and positive idÈnllly development. Thorapeutlc and w•llbeing support. One-tne Intérv••)tlon8 that respond to trauma, grief, loss, and ongoing exposure to systemic and oommunity violence. Educatlon, mentoring, and •mployabillty pathways, supporting re.engagetnent wlth learning, development of life ski115, and trans11ions into training, work, or lurlher educalion. Family and community-based support, recognlsing Ihe role of c8règlvers, peers, 5th001s, faith spaces. and neighbourhoods in shaping young people's Outm&s. Through4he-Gate and t•t1iary transitlon support. helpng young pÈople navlgale critical Ilfè momenls such as leaving custody, ca, alternative provision, or yth juslice selling5. Youth voice, advocacy. and l•adershlp. creatlng space for young people lo influ8nce service5, ch8ll¥nge harmlul systems, and lead change within their comrnunitiets.
DDrudw Envdopelo.. 9494C19F-9E4A4E6&A4lBl8DAfjD9SgE2 Sprlng Cornmunlty Hub FcM)d 15 8 human right. Sprlng Community Hub in Soulhvrark exists to make sure no one our communlty goes hungry. But we don't just provk18 food, we rk alongside people to help them escape food poverty, build confidenc$ and find communlty. 'Pgl&r [st has helpd mè to gmw as b CEO and 9iven m& the trust I n&ad to see fund&rs as partne.. .Th8y donl ask us lortoo much and they donl Gre&le unnecessaty monitoring, I feel like they really trust us.... They h8ve helped us to refiecl Inwards and lo gmw and to sa& the charlly as a busAnÈs$, wljich feels more suslaln8ble.' Fellcla Boshorin, CEO WWW.S communl hub.or .uk Spring has seen rapkl growth in delbvery and lrnpacl slnca 2019 through excellent leadership by ils CEO, Felicia Boshorin, and Its dedlcaled legm of staff. volunteers and board members, many with exrIenCe of the challenges clients face. Durlng and 8ft8r thè Covid p8ndemic it expanded ils core act6vSly as a food bank 80 It could addregs Ihe root causes of food Povety And needs ol ¢liènls in a culturally sensillve manner. Sprin9 does thls by dollv8rlng holld8y 8nd aftèr school clubs for chikjrgn. gdvice sesglons, tralning, elder groups, sewlng classes. 8 range of $upp(t group$- and by creating communlty. Its new premises Include 8 new Social Suparm8rket wllh a Shop fronl, enabllng those tsxparienang food Iverty to acce55 SUPPOrt with dlgnlty and cholce. Sprlng Is a leamlng organisallon rgllectlng conunuglly on115 worf( and thè drff8r8nce 515 making and Southwar CounrAI share3 Sprtng's exarnplg as a model of st prac¢è. In the last yéar, Spring has op6n8d a community cale In Homchurch in response lo local nè8d. indudlng lor Southwark lamllies temporarily housed nearby, and launched Spring Communlty lQ'lchen,115 Caterfng department dedicated lo serving delicious, cutturAIIy 8ppropriate meals lor families and organisallons aeross London. Sprlng and its Board conlnue lo strengthen Spring's governance and Infrastructurè dèliverfng a change management programme wlth ¢onsurtants,Timewse. WE WIMT lfi itE I, Yourstory www. yourstory.org.uk YourStory18 dl¥mantllng barrler¥ to r•tumlng to gducatlon for young peopl• impacted by long-t•m) h•alth condltlon• and Int•r•ectlng Inequalltl••, Includlng those r•lat•d to rac•, Incom• and mmunleatSon noed•. Yourstory al•0 wants to Intraduce a CO-praductl¢n Inltiatlve that ¢entr•• youth volce, equlty and collaborotlve d•cislgn-maklng across •ducatlon •nd NHS paodiatrlc s&rvI8. Thls programm• posltlonj young p•ople as partners wlth Ilv•d •xperlène• who wlll •¢tlv•ly Bhay •due8tlon and healthcarn 9•rvl¢e81 pollcle• and tralnlng. Ulilmately. It• work targ•ts the structural feature$ of •ducatlon and h•alth systems that hlnd•r •ducatlon proores8lon and Impaet Ilf• dlrectlonl. Yourstory, led by foundgr end CEO Adrlan Jones and b88ed In Lambeth, provhl9s MtOng, workshops and dedicated family support to loster confidence, $elf-esleem 8nd positSve atbtLKJes towards education. Th8 leam lakes a holis¢k appr08ch to young people by engaglng parenls, carers, ieachers, 50cfdl I(erS and helping young people and their fomilieslcarers access the support they n6ed. including health and houslng
Dccuslon Envebpe ID.. 9494C19F-9E4A4E66-AAIB-018DA10959E2 Recent work includes Keeping Children S.AF.E, My Lrfe My Futu and The Big Q that Yourstory dèllvers th a range of partners including Action for Race Equality, Rio Ferdinand Foundation and a range of schcM)Is including Christ's School (Richmond) and Harrls St. John's Wocxl Iwestminsterl. Yourstory has recently piloted a new fr8mework lor parent and stAff communlcation to irnprove trust and cE)118boration, and contributes regulady lo borough-18vel briefings on r8imaginlng funding. Yourstory has recently been awarded of A major grant from Propel's Long Term Grants progr8inm8 that will run for s8ven years and aims to back long-lerm, community-led systems change acros5 London. 'wrthoul doubl. Ille unStricted granl from the Peter AAffnet Tnjst has been 8bsoluÈely pivotal in Yourstory continuing lo m6ntorouryoung people ov8r IhE¥ past 34 y&8rs. Even the extensiofi ofyourgranl was unexpected 8nd gatlY n88ded. Withoul your Gommitlll8lJt and twsl in us, wa m8y not hav8 bè&n in 8 posllion lo submil such a signilic8nl rese8rch applicatn (forProp81 luncling) in the firstpl8ce. Our locus would have been ort more 2-ye8r funding 8pplffc8tlons and furiously trearling water., Adrian Jone8, CEO P•t•r Mlnet TNst Stateglc Alm No. I: Our Grantm*klng and Learnlng Icontlnu•dl L•amSng from our grantmaklng 11 Loarnln9 from our funded Partn•rs: Wo conllnued to Implement our leamlng Iramework agreed in May 2C123. updatad annually, th8t Includes a strengthened and more Iransparenl process of rengwing gr8nls and ènables us be¢ler lo understand the difference groups aro m8king and wjentify WAYS In thlch can support Partners, in addition to lunding, in a pracllcal and proportlonate way. 111 Bloo by Juvenl•.' Juvenis reflected on thè èxp8Iience of Ils funded parlnershlp vllh Peter Mlnèl Trust In a March 2025 - www,pelerminel.org.uklnewglpower.trust-jvvenl&.and-peter-rninel-trusl-blog-juvÈnl$ 1111 Ll&tening Prol•ct 2025.. Following feedback from wr Partner5 about Ihe opportunity they had lo Share in$ighlS and refler,lion$ anonymously with 8 thlrd party during our Straieglc Re&w, the Board emb¢dded this annually. This y88r's Listening Prolècl VAII be delbvered In autumn 2025. Iv) IVAR'a Op•n and Trustlng campalgn.. Pelgr Mlnet Tru51 rènawod lis contributlon of E1,000 lo'Op8n and Trusdng, led by IVAR. 8 rèsearch agency and charity. Tha campalgn CAlls lor funders lo adopt more open and trusting praclic8s that make life easSer for organisalions they fund. VI ACF Sprlng Forum 2025.. Peter Minel TrLJslee, Georgina Awoonor-Gordon, shared insights on Inclusion on Boards of Trustees al the Associatlon of Chariiable Found8tlon's annual Chalrs, event. strntogic Alm No. 2.. W¢rklng wllh other• In Lambeth and Southwark il Fundlng Olfferently £25.000 grant.. Peter MSnel Tnjsl awarded £25,000 to Funding Differently. partip8t0ry lundiw collaborBtion putting small charities and community gmups at the hE8rt ol lundlng declsions. Co-designed by the VolLJntBry & Communily sector in Southwark, th8 8pproach shifts Power, strenglhens local organlsa1ns and tackles health Inèqualilies at neighbourhood level. 11 Is led by Community Southwark alongslde Uniled Sl Saviourfs Charity and Partnershlp Southwark and open1 its ihird funding round in Seplefflber 2025. Pel8r MIMt is committed lo supporting more equit8ble ftjnding for 818ck-led organisaonS, and the Board see5 thls as a proven way to pul decision-making in Ihe hands ol Ic>CAI kaders who understand their communities. Fundlng Drfferenlly 81s0 supports $m8llar groups Peter Minel Trust does not otherwise reach.
DDcusign Envelope ID.. 9494C19F-9E4A4E66-AA1M18DA10959E2 151 Loeal collaboratlon.. We eont5nued to work with Impact on Urban Health. Unlted Sl SavSour's Charrty and Walcol Found81ion to ex Ore cross-Ex)rough co118b0r8lrn that aims to develop a rnore supporb've. stable and eqult8bl8 funding environment lor small 818ck and diverse-led groups in Lambelh and Soulhw8rk. Leaming from this work led lo Peter Minet Trust's declsion to supporl Funding Diff8rÈntly. We 3lso took part in workshops led by Radically Reimagining Funding and connected with Do It Now Now to Sha oppDrtLJnitles and funding availab. ill) Exi5tlng partnershlps: We contsnued lo d8vèlop existing partnerships includlng as membgrs ol London Funders. Assoaation of Charitsble Found8tlons. Southvrdrk and Lambeth Fund&rs Networks and Community Southwatl( to leam about best practice. emerging needs. and explore opportunities to rnake me of a difference. Stratèglc Alm No 3: Our Inve8tm•nt Pollcy Peler Minet Tr¢Jsl Inv8sts and manag88 ils funds In a way Ihat aims lo provk1e funding ftsr grantmaklna and reflects tr8 valu&s and mbssion of th8 Trust. We hold our invtsstment managers to account throughoul the year to r8vlew their p8rformanc8 and pract5ces, including An annual meellng with the Trust's Board, to ensura our Inveslrn8nts r8moin In line with our values. We share Informaln on our investment powers. Stragy, performance and oui reserves pollcy In Flnanclal R8vl•w. Futur• Plan•: Our pl•n• In 2020 We W11 continue lo d8llvèr Pater Minel Tru61'$ Strntegy 2025-2028. Our lo¢us In Ihe comlng y•ar will be.. il Award unre3lrlcled, multl-ye8r grants to around sevgn new Partners- Black-led chArille$ or CICS Llmlted by Guarantee in Lambeth Andlor Soulhw8rk (Open Fund Round 31 111 Continue lo devolop rel81Sonships wllh Open Fund Partners. tum learnlng Into action thon we Can and share Ihls leaming illl Introduce an Annual Peer Nètwork event for new. current and formar Partners Iv) Explore capBclty building support for Partners vl Continue to explore collaboratlon with local lunder5 to offer rnore equltabla fundlng vll MonStor lh& Trust's Inve51m8nt porffolio managed by Sarasin & Partner UK vlll Continue strengthen our govemance includlng Trustee recrullmenl C. FINANCIAL REVIEW Ov•rvl•w Petèr Mlnet Trust awarded granls of £192,852 in 202512024.. £239.0291. The Trust had A total nel deflclt, as defined in thg Ststemonl of ReEomrnended Pr8Ctlce. lor the ar of £162,82712024'. net deficll £200,B241. Total Funds al 30 September 2025 stood al £5,441.18712024.. £5,454,780). all reprèsonted by unreslricled funds. Inv••tment Jtrat•gy In 1969 Pèter Minel, foundar of The Peter Minet Trust, pAssed to the Trust proceeds of the sale of property own8d in South London, to be held by the Trustees subject to powers and provisions of th8 chadiable trust s¥t out in the Tru$t Deed. The Trust's portfolio 8nd property invostment furKI was managed by Br&win Dolphin Securltles Limited and Investec Wealth & Inve3tm8nt Limiled respedvely unbl March 2022.
Docug En¥elow ID.. 9494C19F-9E4A4E66-A41B4)1BDA1D959E2 The Board agreed 8 set of Inve51mgnt Bellefs and Values in November 2020. incorporating its Environwen181. Social and Govemance v8lu8s and, afler a competitive procesg, selected S8r8sln & Partnefs LIK in 2021. Since 28 March 2022, Peler Minel Trust has been Invested in Sarasin & Partners UKS Cllmate Active Fund and, during Ihe period, the Tmst conJnued to develop this partnership through meeting6 belween Sarasin & Partners UK wblh our full Board and the Trust's Fln8nce, Risk and Investment Cornmrttee. Tha Trustees have adopted a Total Retum appr08ch for the portfolio wilh the aim lo produce sufficient income and eapilal growth to fund a programme of grants lIst at the same Ilmè safeguarding the value of the capit31 of th& Trust on yn Inflation-adlusled bBsis. Invw4tmént powers Subject to the overriding provislons of thè Trustee Acts, the TDJst has th8 power make any investmonts which the Trustees see lit. Invèstm•nt parformanc• At 3Q September 2025, the Trust's portfollo Is Invested in thè S8rasln Cllm81è Active Endowmanls Fund valued at £5,340,212 ¢()mpfising.' Flx8d Income of 9.9%1£530,5281', Equillos of 74.70A1£3,989,9081; Proporty of 3.2°/01£169.5811.' temstIve Investmgnts of 10.6°k1£568.4691', Liquid Assèts of 1.5U IE81,7261. Th8 Trust also held Liouid Assets in a s8parate Income Reserv8 Account at Sarasin & Partner5 UK whlch as al 30 Seplgmber 2025 valued gt £61,288. Over th• 12 months lo 30 September 2025, the Trust's inveslrnenl portrolio dernstrated strong posillve over011 performancè18llowing lor both Income goner8ted and changes In Capital value) ol 5.5°A nel of fèes. The portfollo has modeslly underperformed 115 infi8llon-Ilnked targ8t relum 017.9% pèr annum, ond pèrformed bel¢)w its composble benchmark, which returned 13% ov8r Ihe perlod. The tol81 value of funds rernainèd broadly slatye over the pertod, 8s the posltlve performance of the Investment portfollo matched the Income dislributed and dlslnv851m•nl8 made lo fund granl-rnaklng and ratIonAl ¥14wL*s actlvilies. IO?5 Since the incepllon of the cUrnt Investment mandate In Apill 2022, the portrollo has relumed 6.6% per 8nnum. Poslbve ab8olul¢ perfomiance continues lo be drlven by 51rong equlty market relums. The"M8gnrficent 7. stocks conunue io be k&y contributors for perfomiance both al the tol81 market level and within tha Trust's Investment portfollo. Thè period also $8w signlficanl volatility, p8rticul8rly around 'Libemtion Day, and thè announcement ol US tariffs. Perfomiance lollovlng Llberalion Day has been positive but18gged Ihe benehmark as the porrfollo tooTrk a more high quality. value-driven orientation. Performance was also supported by the Allernalbves portfolio within the Cllmale Active Fund, which produeed both strong p051ts.ve return8 and a dlversification 8galnst equlty market volaJl5ty. The Investment portfolk) has experienced w(xlestly posits've pertomiancè floW1ng the Trust Year End and 88 8 sUIt the value ol the Trust'5 assets has experienced a sllght incrèase. The Trustees ravlew investrnent outcome5 on a regular b8sls, wth a focus on lorvJ-tèmi. ralher than shcrt- tomi outcomès and perform8n¢e. The Trustees, with the support ol the Trust's invèstment m8nag&rs, monitor th8 Trust's investments and continue to expect Ihal the expected incx)me level and caplial growth in future years will be able lo supporl the Trust's future operations.
u¥gn EnYd(pe ID.. 9494C19F-9E4A-4E6&A41El8DAlO9sgE2 The Finance, Risk and Investment Committee, and wth the full Trustee Board invited to attend, met with Sarasin & Partners UK on one occasion Imlhin the Fund Year, in November 2024. The focus of the di5cusslon was on performance, providing an update on the investrnent process underlying the Trust's portfolio, on ESG Integration and on sl8wardship. The full Trusteè Btsard also mgt with Sarasin & Partners UK in Nov8mb8r 2025, aft8r lh8 Trust Year Erbd. Outside of formal meetings, the Trustees 8nd Director had regular ad hoc correspondence the Mhnager al Sarasln & Partners UK. Stewardshlp The Trustees cOgnIS8 thè import8nce of stewardshlp, voting arKI 8ngagèment in the management ol Ihe Trust's investment assets. which 1$ expected lo both directly and indirecuy irnprove investment outcomes for the Trust. In some cases, Stewardship a¢tlvlty r•lated io lh6 Trust's investment assets may also tsngenlially SUPPK)rt Ihe Trust's overarching objectives. Alongside asset ollocaOll and securfty selectlon, one of the key rdes of the Trust's investment manager Is to act as good st8W8fds ol the Trust's assets- Ihat 15, to use the influènce they have as investors 10 n¢ourag8 the companies they Invest in lo act in a m8nner which is most consislenl with the oblectlve of maximising long-term inv8Stmenl relums. The Trustee's policy is to deleggle dOldaY responsibillty for eng8glng In stewardshlp actbvlUe$ with, and in relation lo, undetlying FK)rtfolio comp8nle$ lo Sarasln & Partners UK. 8nd review their policies and activitiès relating to stewardship, vollng and engagement on perdIC basls. Peter Minet Trust has a"Public Engagement Polic to support tha Twsteo'5 declsion-making process in relal*Jn to parllcipats'on in publlc engagements organised by Sarasln & Partners UK. The Trust did nol partbcipatè In any public engagements over the period covered by thls report. R•••rves pollcy The Trustees aim tr) dlslribute cash in the form ol grants con51sl8nt hthth the long-tgrm oxpect6d raal relum ol Ihe invostmenl portfolio, net ol all inveslmonl and oper8tionAI costs. The Truslees h8V8 adopted a Total Retum investment approach and VAII supplèmenl the distribLJtion of tol81 nèt Income WIU) perlodlc dlslnveslmenls froln thè Trust's Investment portfc4io Wre nece588ry. Ftsndral•lng Actlvltl•s Th• Peter Minel Trust does not undertak8 any fundralsing advltl8$. Golng Concern The Tfusleps are satisfied that Ihe Trust fv)Ids 5ufficlenl funds to me&t Its obllgallons fo)r the fore3e8ae luluw. D. GRANTS Grantmaklng pollcy- up-dJt•d March 2025 Peter Mlnel Trust's pollcy Is to m8ka gran151o UK Regisl8red Charities and CICS Limited by Guarantee.11 offers unre51rtcled, mulli-year grants ol up lo £30.000 a ye8r for three ye8rs, th annual CPI upllft lio a maxlrnum of 10%). to Black-18d organi5ations. Since 2022. Peter Minet Trust has oper8led Iwo funds.. 11 Open Fund- any eligible organlsation c8n apply and 21 Strateglc Fund- for organisations klentili8d by Peter Mlnèt Trust, often In collabor8llon with another funder Since Introduung our Open Fund, there have been lundlng rounds in 2020, 2022 and 2025. Opon Fund •llglblllty and erlt•rla Small.. Your lolal annual incoming resource5 over £25,000 and under £350,000 Local.. At least 75% of your work rnust be based in Lambeth andlor Southwarfi Iprforitised rf bosed locally) Conn•cted to Communlty. You understand the needs of your local community,. your leader5 and staff have lived experience ol the challenges y(>ur communty f8ces', you can explain yOLJr work and how you are part of Ioc81 nettvorks
Docu51gn EDvek)pe ID.. g494C19F-9E4A4E6&AA1lBDAIo5E2 Slrong Leadershlp and Leamlng: You have clear goals and strong leadership., you can explAln how your work helps your community., you can talk about what you are18arning and how you improve your work., you know your strengths Bnd challenges. Good Govèrnance and Flnance Systems: Al least 3 Trustees or Directors who 8re not rela18d.' regular bo8rd meetings and clear decision making., polldes including Conflict of Intèrest, Sale9uaiding and Dlvèrsily, Equity and Inclusion,. good finance systems including budgets and regular finance reports. Ex¢lugions'. Grants are not given to edUcaon81 institutions Including scho(As, colleges ènd universilles.. grants are not given to places ol worship., grants are nol glven to individuals. Further details.. www. etermlnet.or Grants made In th• year to 30 S•ptèmber 2025 The Trust awarded renewal grants lo current Partners as fcllows.. Round 2 Fund•d Partnern Brighl Centres CEF Lyncx (Community Education Foundallon & Lyncxl Juv8ni$ Soulhwark Day Centre for Asylurn Seèkers Soulhsidè Young Leaders Academy ISYLAI Sprlng Communlly Hub Yeur Story Tot•1 Op•n Fund Grants £33.276 £0 £53,476 £20.000 £20,000 £20.100 £20.000 £160,852 S¢ra¢•glc Fund Grant• IVAR Iln511tuta for Voluntary Acllon Rese8rchl United Sl Saviourfs Charfty IFunding Dlff8renlly Poded Fund) Totsl Sirategl¢ Fund• Grant¥ Total Op?n and Strategle Funds Grnnt• £1,000 £25,000 £26.000 £192.852 Thls table rnff •ct8: Brlght Cfrntres: Yèar 3 IY31 grant paid after 2024 Year End (YE) Juvenls'.Y3 grant paid after 2024 YE.. Y4 grant paid In 2025 Southwark Oay Centr• for Asylum S••kers & SYLA.. Y4 grant pald In 2025 Sprlng Communlty Hub: Y4 grant pald In 2025 Yourstory.. Y4 gTant paid in 2025 CEF Lyncx & 8rlgM C•ntr?¥'. Y4 grants are projected lo bè paid after 2025 YE E. STRUCTURE, GOVERNANCE AND MANAGEMENT Trust•os. Includlng Tru*tee recrultment and tralnlng Our Trustees afe Ilsted al Ihe beginning of this report. The Trusl'5 Charlty Commission Schem819 September 19981 allows for there to be no less than three and no more Ihan seven Trustees ol the charity. Trustees are appointed for five.aT temis that can be r8newed for a second perlod of five years. Th8 Board of Trustee5 keeps the number of Trustees under regul8r review and has the power to appolnt new Tru51ee5. No single Trustee has Ihe power lo appoint any other. The Board updated its Trustee Code of Conduct in November 2022. io
Otrtusign EnvelDpe10.' 9494C19F-gE4A4EAA10l8DA1O95gE2 Trust&es have altènded training 58ssions including in govemance. investment man8gèm6nt and safeguardbng. Two Trusl885 have reSned from the Board and Peter Minel would like to off8r since thanks for thèlr commilm8nt, 8XP8rience and valuoble work.. Anne Young resigngd after len years as a Trust88 in November 2Q25', Patricia Okonkwo resigned in March 2025. In November 2024, ihe Trust held Its second Board Bwayday al our Investment manager, Sar88in & Partners UK. focused on our Sirategic Review wilh sessions led by extemal Consultant and facilitator, Kale Chester at Animo Leadership. Reflections and d8cision$ from this sesslon led into th8 final Peter Minet Trusl Strategy 2025-2028, published in MarL* 2025. OrgAnlsatlonal •tfUCtur• The Trust is adminlstered by a Board of Twstees that rnegts betsen thr88 and four time5 8 year, indudlng a strategy awayday. wllh Bdditional meetings when requlrèd. A Direclor of the Trust is appointed by th& aoard io m8n8ge the day-lo-d8y operalions ol Ihe Trust beLween three and lour d8ys a week. The IDllowing groups supported our work during the year and port lo the BoBrd. Members comprl8e current Trusl68s and the Dir8Ctor of Peter Minet Trust.. Finance, Risk and Inv831menl Committee. Governonce Worklng Group and the Strategy WkIng Group ISWGI. SWG concluded Ils work In July 2025 when Peter Mlnat's Straiegy 2025-2028 was pub115hed and the Board agreed. in Septèmber 2025, to IransSllon from a Govemance Worklng Group to 8 Governanc8 Committee, now inlegr8tèd Into Ihe Trust's governance structure and cycle of Board rneetlThJs. TruBle8s contlnu8 to consldèr the resources needed by Pel&r Mlnat Trust to d&llv&r Its mlsslon and Strategy. Rlsk manag•m•nt The Twslees hove completed an assessmenl ol the risks lacing Peter Minel Trust And these have been docurnented together vAlh dt>lails ol lh8 actions required lo mltigate those rlsks. These det811s are reviewed regularly by the Trustaes to ensurè that the Risk Register remains complete and up-to-d8le. Trust8e6 will continue lo monitor and le8rn thr[gh advice from extemol sources Includlng our Investment managèrs. As well 86 uThJerstanding the changing needs ol ¢ha communill&s and ¢hari1Ses Ihal tho Trust funds. P•ter Mlnet Trust at Marnhall Hou•0 SE1 Petei Minet Trust continued lo be based In Soulhwark 81 M8rghall House In N8wcom8n Slrgèt. SE1 1Yr, own8d by Marsh811's Charfty. Peter Mlnet Trust signed 8 new Llcence to Occupy and Side L8tter In March 2024, incorporaling a new annual break clouse. wlth Wakeneld and T8tl8y Trust with whom it shares an office in Marshall House. Wakefield and Telley Trust holds a leasè wllh Marshall's Charity. Following a Board decislon in July 2025, Peter Mln¢t Trust gave nollce to Wakefield & Telley Trust. invoking the onnual break clause In August 2025, ond wll vacat8 its Drfices at Marshall Hous8 by 24 March 2026. Peter MSnet 11 comblna homeworkSng wlih uslng meellng rooms in Lambelh and Southwad( as n88d8d. li
Ooru3lon Envelope ID.. 9494C19F-gE4A4E66-AA1B.0180A10959E2 Statomont of Responslbiliti•s of the Board of Trustees The Truste8s are responsibl& for preparing the Trust8e5' Annual R8POrt ané the financial statements in 8ccordance with applic8ble law and United Kingdom Accounting StsTh4ards (United KIngdn Generally Accep18d Accounting Practicel. The law applicable lo ch8rilies in England and W81os require5 the TTusloes to prepare financial 8t8tèments for each finana81 year which giv8 a true and fair view of the $t818 of 8ff81rs of the Trust and of the Incofflg 8nd 8xpencJilure of the Trustlor th8t P8riCl. In preparing Ihesè financlal stat8ments, the TwuB188s are qUired 10.. Ensure that thg chartty operatsB in accordance 1th it8 oblectlv&$ 8nd for promotlng ts public benefit,. Se18Ct sulthble accounting pdlcies 8nd thon apply them con8iStenUy'. Ob88rve th& meihcKI8 8nd principlos in Accounting and Reporhng by Charllie9.' Ststem8nt ol Recommended Practice 8pplicable to charities preparing tr8ir 8ccounts Sn accordance with th8 Financlal Rtrporting Stsndard ap1£0b19 In tha UK Reput4ic of Ire18nd IFRS 1021., Make lud98rn•nls and 88tlmat85 that &r6 rggsonable and prudent., Stètè whalher 8Fpllcable Unll8d lfj'ngdom 8ecL)untlng Bl8nd8rds have been fdlo%Td, subject 10 any rnaterlal departures dlsdosed and explained sn tho flnancial 8tstemenl3', and The Trust889 mu81 prep8re the finAnclal slat8rnent5 on 8 g(MThJ concern b8618. Thig a58ume8 the Twst wlll conllnu8 OP8ratlng for the fore8888Ue future unl888 thgre is evlden¢8 to sugg88t 0th8ThvIs8, The Twgtees 8r8 reswnslble for keeplng propor rOrdS wthich disclose 1h rea8on8b18 8ccur8Cy th8 fin8ndal PO811ion of the Twst and enabb Ihern to ensure that the lIne11 statements comply wllh th8 Charllies Act 2011, the Charily IAccounts and R8POrtsl R8gu1811on5 2008 th8 provislons of th8 tru81 deed. They 8r8 81so r8sponsibI8 for 58feguardlng the Twsl's ass8tS 8nd hence tsking reasonable slep8 for th8 praven11 and ¢Jaiecllon of fraud and brcheS of law and regulation8. Thls includes 8stsbllshlng and maintalning appropriate yB18ms of Intemal contrc4 10 man8g8 risk and 8n6ur8 accounlabillty. The Truste88 8rg responslble for Ihe mainlgn8nce and Integrity of Iha Trust and flnanclal Inforrnallon Included on the Trust's websit8. UK legis18tion govèrnlng the prepar8tlon and disB8mlnalion of financi815taiemenls may diff8rlrom 18glslatbn In olh8rlurlsdkUons. Stat•m•nt of dl•closur•to •udMor So lar as the 8oard of Truste8s15 8wor•'. al Ihere Is no ielevant audit inform8tkJn of whlGh Ihe Trusfs audllors are unaware,. and bl they h8v8 taken all Steps th81 Ihoy ought lo have tsken gs TNsleBS Sn order to make Ih8m58lvas 8ware of any relevant audit informatlon 8nd lo establlsh that th8 Trust's auditor5 arg aware of that inforn)ation FILld¥ Tr8C8y Fletcher Iz
Docu5iun Envèlop8 ID.. 9494C19F.gE4A4E66.A41&018DA1095SE2 INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE PETER MINET TRUST Wa have audited thè financial statements of th8 P&ter Mlnel Trust Ith& ch8rllabl8 companll for the se8r ended 30 September 2025 whh comprise the ststernenl ol fin8ncial aclivilEs. thÈ b8bnce sheet. the 51atsmÈnl of cash flows ond Ihé rdaled notes, including 6 summary of sigr4fiwl 8ccounUng pollcl&8. The finan£ral rep(Ming fr8mework that has b88n applied in thair preparation Is applicable law and UnkÈd Kingdom Accountlng Stsndards, Including Finanoal R8POrtlng Starard 102 'The Fln8nd81 Reporting StandBrd applltAble In the UK 8nd Republic of Ireland, (Ljniled Klngdom Generally Accepi8d Accounting Praclicel. In our opin[L tho flnand81 slèt?menls.' glve a IrLE and fair vlew of thè st8te of the charrtable companys aff81rs #$ ot 31 Augu812025 and of its IncomlrJ resources and appli(llon of rasources. Includlng Ils COrne and eXpeIlure for the year then enéed,. . have kAen properly pr&p8reJ kn 8ccordance wth United Klwjom Geralty Accepted Accounllng Pra¢llce', and . h8ve been w8par8d In accordance 1h lh8 roqutr8m8nt8 of Ihe Chartlles Act 2011. Bi¥l• ol aplnlon We conduclecl our 8udlt In 8¢¢ordanc8 th Inlernaliongl St8nd8rds on Audlting IUKI IISAS IUKII 8p l¢able 18w. Our responsibilities under Ihose sland8rd8 8re further destrJ6d In the Audiior$' re8ponsibllllles for the 8udil of the finjntkql $tslem0nls secllon of our report We are Independent of the ch8r118b18 company In awDrd8nce wrth the elhic81 requlrements Ih&l 8re relevant lo our audll of the flnancial gtatem8ni8 in the Unlted Klngdom, Including the Financl81 Reportlng Coundl's Ethical Standord, an¢ wo have fumllled our othar 8lhicd respon$ibililio$ In 8ccordance wkh Ihe$e r8quirem8nli. Wo belleve th81 the wdtt èvh4ence we h&ve obt8in8d 18 SLrtri8nI bnd 8pproprl818 to provldfr a ba6[& for our oplnlon. Conclu•lon• r•latlng to golng con¢•rn In auLllllng th8 flnandal 51alemonls, have conduded th81 Trustees us& ol the golng concom b8s18 ol countIng In the pr8P8ralirffi cf thtr ffnancial 618t8mant518 8pproprf8te. 888ed Ihe work we hav8 p8rfLYrned. wg have noi Idenllfied any malerl81 uncertainli05 rel81iry lo events or cond519 Ih81, Indlvldu8lly or ¢olle¢llvely, m8y cast yignlfic8nl doubt on the chadtoble companlg ablllly 10 continue 88 8 golng concèm for pertod of8t 681 twelv& monih$ from th8 fina91 $¢al¢menls are 8uthorf$ed for sU0. Our re$pon$lbillt508 and th• reynBlblllU95 of the TN$iew w5th respoct to golng 0)rOrn sre desthb•d In the rek•v8nl sertlon8 of Ihl& roport. Oth•r Inlorm•tlon The other Inlorm8tbn coMpse$ the 5nfOon Includsd In the annual report other than Ihe flnandal st8tement$ ond our audit$, report Ihereon. The Truslae5 ie$ptsnslb18 lor the other information contgined wilhln the annusl report. Our oplnkjn on the financi1 Siaiemenls does cover the 0th8r irrformallon and. except lo Ihe 8xl8nl otherwl$è 8IclY slated in our report. we do not expre55 ony fomi of 858Ufan¢& ¢onclu81on Ihereon. Our rÈspon8lbHIty 15 ID the other informottoTr and, In ding $0, nSIder bvhelhÈr the other informatlon Is m81erKglly In¢gn$lstenl wlth the nnanclal slalaments or our knowledge obl8ined in the cours8 of the audlt. or oth8nSe oppear$ to be m&ledally misstated. If V identify such maietl81 Irwn515tencies or appaienl maledal misslaletnents. 8re qUIo to deterrnin8 whèth8r thls gives rlse itr a rnalerlal mis$tstem8nl In the financl81 slalemenls Ihemsolves. If, ba8ed on the work we have porforned, we conclude th81 there is 8 m818rial rnlsswtement of th18 Other Infttrmalion. we are requirpd lo report that f8Ct. W8 have nothlng 10 rewrt In thls regard. Matt•r8 on whlch w• are roqulr•d to report by •xuptlon We h8ve nothlng 10 reFQrt In tyspect of th8 followirrfJ matters th8re the Ch8dtle8 IAccoJnt$ and R8PDrtsl R8gu18Ww8 2008 requires u5 to report lo you rf. in aur opinion.. . th8 informavon glven In thè Twslees, rep¢Jrt is knconsislenl in any Tnaterl81 resFect the flnancial 518tements', or . 8ufficlent asGounting record5 have not be8n kept.. or • the finan¢Sal slaternenls are not In agreement wth the aCUb9 CordS and retm)s.' or . wè have nol rpcwved all the inforrnalion and 8xplana*'on5 WÈ require for our adIt. 13
Docu51gn Envdop8 ID.. Y94C19F-9E4A4E6&AAI8-018DA109W2 INOEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE PETER MINET TRUST Ro6ponsibl1lll of trustee8 As explalned MO fully in the Trustees, rasponsibb1es slaternent, the Tru5tge$ are rsIble for th8 praratth of t on¢lal slalemenls and for belw sallsfied that they give a true and f8ir , and for such inlemol n1rD1 8S the Tru5teeg determine 1$ nÈ¢es8ary to en8bl8 the preparatson of fin8nCl gtstsm8nt8 that are free from maierLql m1851atemenl, whether due 10 traud or error. In pr&pang tha fin8nd81 statsmènts. the Trustee$ ore fft$pon$ibla for 855es8lng the charitsble companvs ablllly to continue as a golng cortem. d18closlng, a5 appIIc8blÈ, m811ers related to golrvJ concern and using the goiro cancern ba818 01 accounting unless Iha Trustees elther Inl•nd to Iquh4gte the charllabla comp8ny or to ¢e88e Dperation8, or have no reallsuc altemaiiv6 but to do so. Audltorfs ros115t1•S lor th• audtt of th• flNn¢lo1 stat•m•nt• Wa have be•n spwlnled 86 au4ttor under Sect 144 of the Chartlle6 Act 2011 and ropwi In cOrd8nc9 wkh the Act a r•l8vant regulalloni made or hawng effeci therewdar. Our oblecliv8s ar8 lo obt8in reason8ble 8ssur8nce about whelhar the finAndal ststemgnls 8S 8 %4thole 8rè frea from rnaithAI mls$tstem8nl, th8lh8r dutr to fr8ud or arror. and lo Issue an 8udllors' report th81 Indudes our opinn. Ra8son8ble a$$urar 18 8 hlgh level ol os$ur8nce, bul is nol & gu8rant6e th8t an al11 conductsd In &ceordan¢e ISAS IUKI wll glw8ys detect 8 rnalerlal mi&slalom8nl when It e916 MIsst8temls can arfs8 from fraud tr orror and are consIded m8larl81 If, IndIdellY or in the aggregate, they Gwld rn88onably be expected lo Influence the Konomlc d8clslons of u8er8 taken cn tho b8$ls gf these financlal statements. Irregularilles, Including fr8ud, are Insl8nce$ of non-e4mpll8nc8 &th and regul8llon8. W8 de$lgn procedures In Ilne ou¥ re$ponslblli118s, oulllwé aOov&, lo d8teci material ml$$tstemenls in fft8pect of 1rr8gu1a19S. lrtludlTra fr8ud. A further de8p11¢n of r rèspon8lbllttl86 for the audlt ol th¢ flnanclgl stoiement9 is IDCBtsd on thé Flnancial RerK)rNrvJ Courtll'• webBlte 81.. www.frc.or9.uklaudi1Thryre8wnb1me9. Thls depon I19 PArt of our audllors, report. of ow r•port Thls rep(irt 1$ made sdely to the ch8ril8Ne ¢omp8nl8 tru81ees. 09 a body, In acwrdance with Part 4 of the ch&ri1$ IA¢wvnls and Reports) Regu181ions 2008. Our audrt work has been uNJertaken 80 thai we mlghl $1818 to the d)ariiobt8 comp8nl$ trustees those matters w8 8r8 regulred lo $181e to them In on Budilors, r8POrt for no olher purpose. To the ful*sl extent pernited by law. wa do not 8CCePt (K a8$ume re&pon$itAirty Io anyone othd than th6 charitable company and11$ members, 88 8 body. for our auth'l work. for IhL8 r8POrt, or for the oplnlons we hBv8 lormed. RPGCC Chartered Ar£ntants and Registered Audltors Stalulory Audft 40 Gracechurch Street LoTrdon ECIV 08T RPGCC18 ebgible to as an audltor In terms of Sects'an 1212 of the CL¥llP8nies AGI 2006 14
DopJ$ign Envdwe ID." 9494C19F-gE4A4E66-AA1M1eDA10959EZ THE PER MIN TRUST STATEMENT OF FINANCIAL ACTNITIES For the year end•d 30 Septembor 2025 2025 Unreslrfd8d Fund 2024 Unrestricted Fund Notes Ineom• frorn.. Investments 162,831 178,336 Total Incom• 182,831 178,336 Exp•ndllur• on: Ralsing funds Investment management costs 36,280 35,380 Charitable actlvllles Grants Salarle5 Admlnistratlon coyls 192.852 56.261 40,265 239,029 67,071 37,680 Total Exp•ndltur• 325,658 379,160 Net Exp•ndltur• b•for• galns on Inv••tment a•••t• 1162,8271 1200,8241 GAln•llLo•••¥l on Inv••tmènt a•Mt• 149,214 679.665 Net Exp•ndltur• 113,6131 478,842 N•t mov•m•nt In fund* 113,6131 478,842 R•concill•tlon ol fund• Total Funds at 1st Oclobor 2024 5.454.780 4,975.939 Total Funds at 30th Sept•mb•r 2025 15 5.441,167 5,454.780 15
Docusign Envelopg ID.. 9494C19F.9E4A4E66-AA118DAl9Ez THE PETER MINET TRUST BALANCE SHEET At 30 Sept•mber 2025 Notss 2025 2024 Flxed As••ts Inlanglb18 asseis Tanglble assets Inveslments 267 5.376,602 5,401,501 5,401,501 5,376,869 Curr•nt A•••t• Debtors Cash at bank 6.121 58.215 64,336 17.474 238.089 255,563 Currént LlabSlltl•• Credllors.. Amounts falling due vllhln gne year 12 177.891 N•t Current A•••t• 39,668 77,672 Tot•1 A•••ts L•8• Curr•nt Ll•bllStl•• 5,441,167 5,454,541 Fund• of th• Charlty Unrestrlcte 15 5,441,167 5,454,780 Approved and author188d by the Board of Trustees on 19 Marth 2026 and slgned on thalr behaN by. Trac8y Flelcher Choir i¥LTr2my¥9" Joseph Howell Trustee 16
Docuon EnvelDp•10.' 9494C19F-9E4A4E6&M1B-018DA10959EZ THE PETER MINET TRUST NOTES TO THE ACCQUNTS Forth• y•ar ended 30 8¢pt•rnb•r2025 DraftAccowitlDg Polld lal baaio ol pY•w•tlDts of flnJncl•l BtRt•m•nts The IinaDcial gtaments have been PTFP8ThJd undgr ihe hlslortcal cost convenl¥)n and in Accordance with AccOunty arKt Raportiw by Ch•rilo8". Stfriemeni ol Re¢omm•nd•d Pra¢ue• 8ppItsNe chariDes prepanng Iheir a¢18 in accordanre wllh the Financ1 Repoflin9 sthndard apphrats kn Ihe UK and RepulAK ol iiBL0nd IFRS 1021 Is8uo0 on 18 July 2014. Ihe F1n(al RepMin9 Stsnd¥¢d ap0ka8 in Ihe ihiiod Kkngdorn RepublSc of lrnl•nd (FR8 10218nd tho ChAr$ At 2011. The financ1 at4m•nt$ ptvpATrd alw a Inje and eW f01btha ChArtIN SORP IFRS 1021. Tho PoterlAin¢t Tru81 con¥lilubs a public benofiE enlilyas dèlnad by FR$ 102 Th? off¢ci8of Bnyevelll¥ r818iin9 lo the endqd 30 Spiomb•i 2025 thleh ocuJrr•d bTrftsmlho d41• 01 app¢ov81 finBThciul 8tllem9nis tyy Ihe 8oard of TmstOQ5 have induottd In fingneJ•l •lemonL to th• exionl reqrj lo a Irue and lair ol thtr gL4le of At 30 Seplwmber 202$ nd th4 resuns lor ihfj ondèd on that dalg. Ibl TM8•pKmunt• have bepn prnp•igd In GBP 811 amwnt• have beon to tho newwBI£. Ir} Inw••kn•n aio 81 thr mithet value. GalD6 and b)$8e5 dvy8AI ond reveal of In¥eBiffjgfity •ie thArg•d orLY•dll8d io SI&mInI ol Finwual Act4112$. Idl ¢rU•d Int•r••i C flxod knler0518trtsJrfll ai th1• ol •èi w lwIliC li Indudod In r•18 poc•wd8or coil. (•) Flx•d 44••t• &nb brwhl In ai coel 4nd dewedatqd ovw Ihatr UE•lul1fv6B on a 4118lghl Ilnll ai the lolk)wlrffj iBle¥'. Offic• •qpMeni . 4 1 sir4bI linvt Beneracr ¢oftw4r• WL4pmenl- ) 01$ SIrghL11no WebBtte 8ulld- 3 y•8rs Blrdlghl11n• (fl D•btort r¢eDanio•d al tho tottlem•rt omounl •rtr Any poni1 trad• dIjnI gff•r•d. Prop8bYn•n Are valwd &1 thè amnI plepllid n•1 olanypot•niiftltrade di•¢ounl du•. 191 C••h It b•nk And In h•nd lrnlud•• cAih 4nd ihort i•fft Nghly IIquh4 Invq¥tm•nis vAth a qhort mawrfiy ol ihr•• m¢thI or leAg Irom the 48tv o14wuWlknn oropenlno of lh• d•O1 ar11r•¢unl. Ihl LlabllllleB ere rgLyJgnffj¢d when Ihern Lq oblwllon •1 tho 8Ianc• Sho81 a$ 8 m•un ol 8 pa¥t qni. 1119 pbItIO Ihhi a IfBns18r ol econom bongnt In 8eiiknmoni. and lh• omcunl ol tho 8911MnI can be v8timèi•d ithiBbly Lièbllili•8 are rKognlso0 01 Iho gmounl Ihai lh charily Entlp8¥ Il wlll poy10 lh¥ d4tJl or the smovnl Il has roGoi¥ed 8$ ¥dvancod paymontg lor ihe 9Dod6 or Mrvlc•6 il musl rrf0Vt. Provknl•rvA Bi8 melr0d 81 Ihè be81 eslkn¥io of tho amount$ rFquir¥d sell1¥ Ihtr obligBUon Whero the elle ollho tim& ol rnoneyls m•itho1, Iho pro¥rthkn) IÉ based on Ihp piosonivolue DI Ihoga amounts. dlBWUThted al Ihe kwg-iax dIau1 Aio th&1 rofl8clB Ihw ri8kB Oper b tho 114Whly. Th• gf the dl8¢ouni recognised within knlere81 payBblp and MIlr chwqe$ 111 B••lc flninclal Inutsum•t are IDlli111y recognlsed bl Iran$aclion value Intl $ubB8qUqDlly rn0•&{d al IWr $8itlml Value wilh ox¢aplW Df any loanj ¥¥hEch •r¢ 9ubyoqUWIty mo06ur•d al amortl CO91 U$ID9 Otlodiw In¢e51 mfjlh( InvvJIrnqn ar• m•8surnd 81 l&lr v8lu• wbth racognitqd In tho Slalerneni ol FlnanuAI AGUvibg•. Ul Fund 4¢covnlbno Gan8fal fund5 are unrBAthcted fufid¥ véNch 8re aValts1e fty u2• althe diS(thn ol ihe Tw8tee6 furthtyrar of thè ggnor&l objeclives ¢harilyaJ vthith hava not been dè9*natsd forothor PUIPOSOS. Dwn8téd ld$ compDsB unreslrided lufid4 that h0¥8 sel by iha TrUStlOr P•nltylAr WIPDse5. Th• Aim ond of 98chd88i£DDled fund 18 Beloul in tho notag to t fmandal 51BierMnts 17
tknDJSign ETwdcpe ID.. 9494C19F-9E4A4E66-lWIBl8DAlo9$gE2 THE PETER MINET TRUST NOTES TO THE ACCQUNTS Fortho y••r4rtded 30 5•ptsmhr 2025 Ikl AM InGoMlng r•our¢•• qr8 IndudBd In IhE siaismèni of flnal thB chenty i• entiued to th• Ineorne. Expendilur• Lq rownid wh¢n a Nabilty 15 knoJtt•d and iDdud$6 IrreWrabb VAT. CrthctL Armngefflenls arB r8¢oonMd a89)¢8 or8•rvK¢8 are 8vppli•d. Im) Rwrtal undèr opuraiwg are tharg¢d equal arnounis ov8rthe parfod 011 Ilc•nce. IDI P•n•lon co•ts Hre Incuffgd by th8 Ch8rfly In CLNineclion Ihe paymBnl of a pw8ion 8 forrner $iDff rnembgr Th15 IB charged In the acctsunt$ &É The accwnL8 also clUde a ChWg9 ILY a to thd personal penBhJn al current Staff. lol A r•ih Ilow •thtm•nl Is not IndudBd in tho financhl Alalvmen18 bo¢8U6& the chonty, EJ A $m•l portlng nly. IN oxempt Irorn the requitsmants PHra èuch a sktem8ni undfyr Finw¢al Rprts11ryJ st8ndard 102 a• •mend•d byupdate Bull91 1. 2 Crflk41 •&tlmat•B and1d9m•nt• fadoTr, U109 expec0$ ol fvllX• •v•ntB that hfE lIad lo be r•88on•bl• Lmderlh• clrn1msNx1. Cithal acrountlno •stinatM and 818umploni'. Non J InvMtffl•Dt InMm• 2015 In¢LO from.. InveGlmen 132,7 139.457 38.879 E 178.33 182.831 4 Or•htA to In01VIl0• ch81¥t4¥ Gianls Bpprovad Rwnd 2 Fund•d P•rtn•r• 2025 2021 33,278 32.470 35.e46 2.870 25,746 29.805 35.746 65.748 238,028 CEF Lytyt% Icpmmunlty Edur*tn Fowndithin & Lynrx) luven Southwark Oay Centre forA%ylum Seekers Southild• Youn8 Leadtts Academy ISYLAI Spring Communlty Hub Your51Qry Totsl 63.478 20.000 20.000 20.10D 20.OOD 166.652 TDl•l Op•n Fund 166.652 238,025 8trit•glc Fund GrarfÈ IVAR (Instte lor VoluntaiyAction He5tarehl UnltEd 51 S•¥k)ur'S Charlly (Fundin8 Dlflerendy PoDled Fund) 1.000 25.000 26.000 1.000 1,000 Tolal •nd Btrqt•glc Fut)d• Qv•nts 192852 £ 239 029 5 Tru•toq•' r•rnuNridon •nd oxp•n•o• rfn9 the yellr, no memberof the 8oard of TNstE8$vec4v•d ony Trmuner8Uon 12024 - £01. No TW91pS weTr reimbupAed trbvel exp•n688 of Enl In 202512024-£TTI. 2DZ5 20Z4 Sary ol Llrol SOC geGurRy ¢0818 Contdbulityi to Direciofs PWl8lon Ponsn tofomor èmpwe 45,728 1,432 3.201 5,9rA> 56.261 55.107 1,585 3.295 6.984 f 67.071 18
Ebcugn Envelow ID". 9494C19F-SE4A4E6&AA1B4)18DA1095gE2 THE PETER MINET TRUST NOTES TO THE ACCOUNT8 For th¢ y¢•r tndod 30 S•pknmb•r2025 The avornge monthly numbtri al eMploye85 %¥as No empknyèo rece1 remuneration ol more tran £60.000. Apart Iroffl th8 Tme¢s. key managernsnl crmpiisej Ihe Owknr. Thg aggr•gth rnfflun•rnbon olkey managernoDi #mound to £48.92912024. E55.1071 Th• Diiectorf5 eoTrwibullons of £3.1 12024.. £3,295}are In tha SOFA. 7 A¢knlnl&trntlon 2026 2024 Office c051s Prw¢rty r¥Jsts Profess1 te81 TIusto8 and •ywn Audll lob- cuffent year Audilorn- oth•r1CeS Ipayrolll Dopreoalhjn 11.378 8,880 13.381 402 5,040 968 26B 12.336 8.450 7.875 3.067 4.800 266 • Inv•th•rbti 2025 2024 L15ted IDvosknwI• aOL¥l1U• ot 1 Oclvbw 2024 AddllionB D15p0sl S,366,691 46,921 1198,7041 17.174 132.009 5,368.091 3S.410 5.059.816 268.492 1641.0831 Ra¥•iuetknn rlpothdb e81.55 5.366,890 C4•h vAlh In¥estmoni managb arkel v4iu• 013D SePner2023 Th• v*luo ollh8 Inv•strnenl p¢rfo 1$ 888wrn•ni•oflhe TnA¢8 ¥•1men1 m•n•B•rA, & P4rtft8 UK. 9 T•rbulbl• & Intsr•glbl• A•B•ts Twqibl• ulpm 8in•laclor i•n9lbl• Tot•1 Wqbvlt• tsjlht Co•1 Cc•i al let 0¢0r 2024 Addlllonl AI 30th S•pwrnber W25 8,697 2,010 6,000 14.707 Depr•cwtlon Al 151 O£tobvr2024 ChBrge lorthtr Al 30th Seplemb•r2025 8,430 287 2.010 6.000 14.440 6.000 Nel Book Vu• AI 3LKh S9Pt8mb•r2025 Al?h SepieFnber2024 £ 267 £ NYI t 287 19
Docusign Envelope ID.. 9494Cl9F-9E4A4EMA1B-0l8DA1Og$gE2 THE PER MINETTRUST 140TES TO THE ACCOUNTS For th• y•ai¥ndvd 30 SepteMr2026 10 R•l•t•d party tV•n•ACtlon Ther8 Ktre no related party Iran8aciicn8 OthèrthBn th088 stalod In Note 4. 11 D•btorn Due vmhln ono y•ar. AcrAued mcome Piepald rgni and 5¢th6 ZQ2S 20Z4 10,030 7,444 17,474 fj,121 12 Cr•dlto Due ¥bthin one •r. Gran18 payobl Jdll fee Prof8551L81 f•• Other L¥edllor8 2025 2024 161.334 4.800 10.999 758 5,040 11,282 24,670 13 Fln•Dclnl Cornmltm•nts Dudna the portod, th8 Tru6t 8llr8ed lo extend118 thr•e-&r portnershlp seven fvndèrj p¥rtn8r8 to IDcknd• on addlllonal fourth year T Tru818gre•¢ tho renew&l ol fiv• wants h Saprnber 2025. anl$ •re d8pendenl on T8Ths Bnd Condllbn8 belng MBI 88 part oflho Twsfs renBw81 woe$. 2026 Op•D Fund.. Yer4 ts)mrnllm•nls to Round 2 Partnorn rIed In October 2025 40.QXI 40.1 14 Fln•n¢l•l Ih•tvum•rrt• 2024 2023 Flnoncjal •51•ts m•#•uiod •1 f8lr v•lUq through Incorne Bnd oxwdiwro 5 401.501 5 376.602 Flhllhdal H8bllStl rnQ••ur al amoruwd crtsi 171891 Fln&rtl81 ags8t$ mo$ur•d ai fair v8lu• Ihrauuh Incorne end èxwdlbJr8 compdsa Inv88kn8nlB bgnk balance$ FIn8181 gNfyety me8sured •1 8mortKwd r¥)$l compr¥e dlvHlends recavoNè Jnd ar8Th1 d•btors. FIt81 Ilabilnl•s rn•ayured e18mortiJg(I cotsl compdsos cièditor8 as Shr In MDI8 12. 20
DosIgn Envely ID". 9494C19F-gE4A4Es6-A411BDAfj0955E2 THE PETER MINET TRUST NOTES TO THE ACCOUNTS For tha y•ar •nded 30 8•pt•mb•r 2025 10 StatsmAnt of fundB. Cuvmnl ygir Balsnce 01-Oct-24 Incorne EXdIture Tr8n8fors inhut 89nce al 3S•p-25 D•8lgnated funds 207.652 1167,8521 40.000 Expenditur8 General fuhd.. GaIn(LO$s851 nvq8lmenis 4,782,929 162,831 1325,6581 167,652 4,787,754 484,199 149,214 613413 Tolal UnrgptdQd futvJB 5,454,780 312,045 1325.6581 5,441,167 Total ol fund8 5,454,780 312,045 325,65 £ 5.441.1e7 Th• deOad fund repreHenlts Iha planned comfflitrnent mgd& lo year grani¥. The TIustso8 aw of Ihé th81 Ihi$ r•preset)18 & 1qolI fund ba¢•us• On inlenuon aii81810 o•ta&ld8 the88 fund4 to provldo mull Or gr&nlS. 8t•tsm•nt of fundB- Prtor y••r Bd8DC• 01-Oct-23 IncoTr EXpdIlur8 Transfors Inlout Balance al a824 De9•ld fund8 310,452 1102.8001 207.652 Ewendllure Gon•rBI lund., O#lnlLoii••l Dn Inveotrn8nl& 4,880,953 178,336 1379,1601 102.800 4,782.929 215,466 Total i•cted fund• 4,975,939 858,001 1379,1601 5,454.780 Tolal ofknd$ 4,975.939 658.001 379,160 £ 5,454.780 11 kn•ly41¥ of n•t om•ts fund•. CuTh•nt 1 unre8C19d Oeslgnaled Fund Funds Toial Fund8 In¥eslmenli Tanglble flxod Currenta55ets CredhoTS du¥ ye 5.361.501 40,000 5,401,501 $4,336 24.67Q 5.401.167 64,338 24.670 5,441.167 40.000 AnatyJlB ol D•t •••Dts b•tw••n fvnd•. Prfor y••r unrqsed ne91ed Furxlo Fund8 Total Funds InveslmBnt8 TIngble fixed 8Ssels Current a$801$ CredilDrs duv 1th1n oneye 5,168,684 533 255,563 177.652 5.247,128 207.652 5,376.336 533 255.553 177,652 5.454,780 207.652 21