## **The AIM Foundation** 

**Annual Report and Financial Statements** 

**For the Year Ended 31 August 2024** 

**Charity Registered in England and Wales Number: 263294** 



**The AIM Foundation** Contents For the Year Ended 31 August 2024 

||Page|
|---|---|
|Reference and Administrative Details|1|
|Trustees’ Report|2 – 15|
|Independent Auditors’ Report|16 - 19|
|Consolidated Statement of Financial Activities|20|
|Charity Statement of Financial Activities|21|
|Balance Sheet and Consolidated Balance Sheet|22 - 23|
|Statement of Cashflows and Consolidated Statement of Cashflows|24|
|Notes to Financial Statements|25 - 46|





**The AIM Foundation** Reference and Administrative Details For the Year Ended 31 August 2024 

|**Trustees**|Philippa Bailey|
|---|---|
||Charlotte Bushell|
||Sophie Jones|
||Amanda Keetley|
||Caroline Marks|
||Poppy Morgan|
||Joanna Pritchard Barrett|
||Alexandra Walker|
|**Charity Number**|263294|
|**Principal Address and Registered Office**|Goodwood House|
||Blackbrook Park Avenue|
||Taunton|
||Somerset|
||TA1 2PX|
|**Auditors**|Albert Goodman LLP|
||Goodwood House|
||Blackbrook Park Avenue|
||Taunton|
||Somerset|
||TA1 2PX|
|**Bankers**|Arbuthnot Latham|
||7 Wilson Street|
||London|
||EC2M 2SN|
|**Solicitors**|Farrer & Co|
||66 Lincoln Fields|
||London|
||WC2A 3LH|
|**Investment Advisers**|Cazenove Capital|
||1 London Wall Place|
||London|
||EC2Y 5AU|



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**The AIM Foundation** Trustees’ Report For the Year Ended 31 August 2024 

The Trustees present their Report and Financial Statements for the year ended 31 August 2024. We are satisfied that the Financial Statements comply with the requirements of the Charities Act 2011, the Trust Deed as referenced below and _Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland_ (FRS 102) – (Charities SORP (FRS 102)). 

## **Structure, Governance and Management** 

The AIM Foundation (AIM) is family grantmaking foundation established by a charitable trust deed on 3 September 1971. It is a registered charity number 263294. AIM was previously known as the Ian Roy Marks Charitable Trust and its name was changed by a Trustees' resolution to The AIM Foundation on 14 April 1993. 

AIM currently has eight Trustees, six of whom are descendants of the Founder, Ian Marks, and two are independent, bringing expertise and experience in AIM’s targeted programme areas. The Trustees meet quarterly to set strategy and budgets, review finances, approve grants and discuss other governance matters. The Trustees give their time freely and receive no remuneration or other financial benefits, although they are entitled to be reimbursed for expenses. 

The Trustees who served during the year were: 

- Caroline Marks Chair of Trustees 

- • Charlotte Bushell Vice Chair (appointed 30 April 2024) • Philippa Bailey 

- • Joanna Pritchard Barrett • Sophie Jones 

- • Amanda Keetley (appointed 15 October 2024) 

- • Poppy Morgan (appointed 30 April 2024) 

- • Alexandra Walker (appointed 30 April 2024) • Alison Prout (resigned 26 June 2024) 

In April 2024 AIM appointed three new Trustees - Charlotte Bushell, Poppy Morgan and Alexandra Walker, members of the Marks family and grandchildren of AIM’s original Settlors - Ian & Angela Marks. As part of AIM’s succession planning, Charlotte, Poppy and Alexandra spent considerable time shadowing the Board in preparation for their appointments and we welcome their wide-ranging experience and passion for grantmaking. 

In October 2024 we were delighted to welcome Amanda Keetley to AIM’s Board. Amanda brings a wealth of experience in environmental grantmaking, with a distinguished track record or founding charities and as Executive Director of the Devon Environment Foundation. Her deep understanding, combined with strategic insight into funding solutions, will be invaluable as we strengthen our commitment to the protection and restoration of UK rivers. 

During the year we saw the resignation of Alison Prout as Trustee. We would like to express our sincere gratitude to Alison for her dedication and significant contributions to the foundation’s work during her tenure. 

AIM has programme subcommittees which are responsible for recommending grants to Trustees for approval within predetermined budgets. The subcommittees are comprised of the Foundation Director, selected Trustees, third generation Marks family members, and external voluntary advisers with relevant expertise. 

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**The AIM Foundation** Trustees’ Report For the Year Ended 31 August 2024 

In the past year, we have continued to prioritise network building and team development. Our Trustees and Foundation Director took part in several network and training sessions organised by the Association of Charitable Foundations and Environmental Funders Network, as well as collaborating with other Family Foundations and grant makers funding in similar focus areas. We continue to develop our grant-making to align it with good practice as outlined in the Association of Charitable Foundations’ Stronger Foundations Framework. 

## **Risk Management** 

In response to the growing complexity of our operations and the need for enhanced governance, the Board established a Finance & Risk Committee to provide focused oversight on financial management and risk mitigation. This committee is tasked with ensuring the foundation's budgeting, forecasting, and investment strategies, while also identifying, assessing, and managing potential risks that could impact the foundation’s long-term sustainability. By creating this committee, we aim to strengthen our governance framework, enabling more informed decision-making and ensuring that our resources are managed prudently and with accountability. 

In the coming year, we will undertake a comprehensive risk review to identify, assess, and mitigate potential risks. This review will cover key areas including financial sustainability, operational risks, compliance with relevant regulations, and risks related to the foundation's grantmaking strategy. The trustees will ensure that appropriate risk management strategies are implemented, and we will continue to monitor and update our risk register on a regular basis to reflect any changes in the operating environment. 

## **Nutritional Wellbeing Foundation** 

AIM’s Founder Ian Marks died in 2018, and it became clear that the objects for the restricted fund declared in his letter of wishes in 1999 were not well aligned with the objects and strategy of the AIM Foundation. Therefore, the AIM Trustees decided that the objects associated with the restricted funds would be best served by a new standalone grantmaking CIO, focused exclusively on nutrition. The Nutritional Wellbeing Foundation (NWF) was therefore registered on 14 July 2023 (Charity No. 1203987) and its Board of five trustees is chaired by Caroline Marks. 

From 2008 to November 2023 AIM owned 100% of the shares in Cytoplan Limited (and associated subsidiaries), the shares having been gifted to AIM by Ian Marks. Every year, depending on operating profits and the forward plans for the business, the Cytoplan Board approved donations from the business to AIM. On 30 November 2023, AIM transferred its shares in Cytoplan to the NWF. At the time of the transaction, they were valued in the AIM accounts at £910,000 and responsibility for nutritional grant commitments made by AIM were taken on by the NWF in January 2024. 

In January 2024, commitments under multi-year grants for nutritional grants were also transferred to the NWF (£391,503). In March 2024, the remaining nutritional budget held by AIM was transferred to the NWF for the continued payment of nutritional grants (cash transferred of £429,605). 

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**The AIM Foundation** Trustees’ Report For the Year Ended 31 August 2024 

## **Objectives and Activities** 

AIM provides core, unrestricted and project grants to charitable organisations whose ambitions are aligned with our own. Our funding has three key objectives - to change the system, strengthen sectors & offer direct support where the need is greatest. 

Our funding has three key objectives 

## **Changing the system** 

Many of our grants seek to intervene at the level of the system, where change can have a wide and lasting impact. We use our funds to support work that can change policy, structures, mindsets and practice through collaborations, awareness raising, campaigning, good practice testing & sharing, and research. 

## **Strengthening the sector** 

We recognise it is difficult for charities to fund their own development in the face of pressing demand. Our grants will prioritise organisations’ own development activities and the infrastructure organisations supporting them through capacity-building, advocacy, training, and networking opportunities – crucial to enabling grassroots organisations to be more effective, sustainable, and resilient. 

## **Direct support** 

Some of our grants support the direct delivery work of charities, especially those in East Anglia who are focused on early intervention and prevention. 

In 2023/24 AIM’s funding concentrated on the following focus areas: 

## **Early Years** 

Focusing on early interventions that improve the emotional and social development of young children from vulnerable families. 

## **Environment** 

Restoring and protecting UK Rivers and Coastal Waters and Global Oceans. Priority areas were nature restoration when linked to carbon sequestration and working with communities. 

## **Nutrition for Health and Wellbeing** 

Increasing the understanding of nutrition and its importance for health amongst health practitioners. 

## **Young People** 

Improving their life chances, especially around the transition from school to employment, and their emotional and mental well-being, including early interventions that preventive measures. 

## **Family Fund** 

Funding a range of causes and helps us to learn about new areas of interest, whilst supporting valuable work in communities. 

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**The AIM Foundation** Trustees’ Report For the Year Ended 31 August 2024 

## **Restricted/Designated Funds** 

AIM also has two specific designated funds: 

## **Sustainable Wellbeing** 

A legacy was given to AIM in 2022 with a particular designation that the funds be used to promote Sustainable Wellbeing. AIM’s ex-Trustee Nic Marks is responsible for proposing organisations to be supported from this fund. 

## **The Sylvia Adams Trust** 

The Sylvia Adams Trust closed in 2023 and, as part of this process, its trustees made restricted donations totalling £528,905 to the AIM Foundation with the intention that the funds be allocated to grants to organisations working in the early years sector. This sum has now largely been awarded. 

## **Strategic Review** 

The Board carried out a comprehensive strategic review in 2023/24 to assess AIM’s impact and future direction with the participation of the next generation of the family. The purpose was to ensure that succession planning could enable the smooth transition of leadership, to safeguard continuity of vision and governance. As part of this, the Board focused on developing a sustainable funding model that would enable AIM to deliver its charitable objectives over the long term and ensure financial resilience. 

As a result of this review, we have refined and focused our priorities to ensure greater impact. AIM’s core funding programmes are now concentrated on two key areas: **early childhood development and the protection and restoration of UK rivers** . We are no longer looking to award new programme grants to charities working in Young People’s Mental Health or Nutritional Wellbeing. 

## **Grant Making Policy** 

We have regard to the Charity Commission's general guidance on public benefit when reviewing the grant making policy for the year. We support registered charities operating for public benefit and there is a clear policy of not supporting individuals. The AIM Foundation does not accept unsolicited proposals. Our Trustees consider it a better use of everyone’s time if they proactively seek out the organisations that fit well with AIM’s strategy. These organisations are identified through desk-based research, scoping studies, conversations with experts and practitioners, recommendations from partners, grantees and other funders. 

The following principles guide the AIM Foundation’s overall approach: 

**Respect for those working in the sector** – we try and limit the time spent on proposals and reports; we only approach organisations and ask for their time when we think there is a strong likelihood that we will fund their work; we are driven by what they tell us they need; we provide unrestricted funds where all the organisation’s work aligns with AIM’s priorities or where a strong relationship has been built. In other situations, funds will be broadly restricted – to fund a particular area of work but not tied to specific costs. 

**Openness** – we share the likelihood of funding and details of our process with potential grantees; we publish all our grants on **360giving** ; we commit to letting grantees know when the funding relationship is coming to an end with as much notice as possible; we conduct grantee surveys to gather anonymous feedback from those we support in order to learn and improve. 

**Collaboration** – we encourage our grantees to work together and support the costs of collaboration; we are keen to work with other funders. 

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**The AIM Foundation** Trustees’ Report For the Year Ended 31 August 2024 

**Relationships matter** – we seek to build long-term relationships with those we fund. We hold initial conversations to learn about an organisations work; we aim to provide longer and less restricted funding over time; we provide continuation funding. 

A full list of current grants is shown at the end of the financial statements. 

## **Achievements and Performance** 

It is difficult to present meaningful aggregated data showing the overall impact of the work we have supported with our grants. This is due to the wide range of activities we have supported through our different strands and focus areas; the fact that we fully fund some activities and only contribute towards the costs of others; the different contexts in which the projects we support are working; and the differing needs of the people receiving support from those projects; and that some of our grants are unrestricted or broadly restricted. 

## **Grants awarded during 2023/24** 

As a result of the strategic review, we awarded fewer grants this year than in previous years. 

During 2023/24 AIM awarded eight new programme grants and six family fund grants. Taken together, these totalled £267,500. The total paid out in grants during 2023/24 was £730,750 (many of these second and third payments of multiyear grants awarded in previous years) 

## **Annual Grants Paid (£, 2018/19 to 2023/24)** 


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**The AIM Foundation** Trustees’ Report For the Year Ended 31 August 2024 

## **2023-24 Grants (Split by type)** 


**----- Start of picture text -----**<br>
By Focus Area  By Funding Objective<br>**----- End of picture text -----**<br>


## **New Grants Awarded** 

## **Early Years** 

## **Institute of Health Visiting (IHV) - £30,000 over one year** 

This grant was awarded in April 2024 and was allocated towards the work of iHV’s mental team. AIM is a strong champion of IHV, having provided over £400,000 of support since 2018 

The Institute of Health Visiting (iHV) is a UK Centre for Excellence that has achieved significant successes in promoting mental health and wellbeing through its work with health visitors and families. Over recent years, the iHV has been instrumental in raising awareness of perinatal and infant mental health, providing evidencebased training and resources to health visitors to better support parents and young children. Their campaigns, such as "Starting Well", have emphasised the importance of early intervention in mental health, helping to reduce stigma and improve access to support services. The iHV has also influenced national policy by advocating for integrated mental health services and increased funding for early years support. Their efforts have strengthened the role of health visitors in identifying and addressing mental health issues early, ensuring better outcomes for families and children across the UK. 

## **Grant made on behalf of the Sylvia Adams Trust** 

AIM made the one final grant on behalf of the Sylvia Adams Trust, from funds donated to AIM when the charitable trust closed. 

## **Wild Young Parents Project - £60,000 over two years** 

A follow-on core funding grant to support the development of WILD and the Young Parents Network, which they coordinate. The network has successfully influenced policy and practice by amplifying the voices of young parents in decision-making processes, ensuring their perspectives are included in discussions about childcare, housing, and employment. The network has also delivered tailored support programmes, including parenting skills workshops, mental health resources, and educational opportunities, empowering young parents to build confidence and independence. Additionally, WILD’s campaigns have raised awareness of the challenges faced by young parents, leading to improved local services and reduced stigma. These achievements highlight the network’s commitment to creating a supportive and inclusive environment for young parents and their children. 

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**The AIM Foundation** Trustees’ Report For the Year Ended 31 August 2024 

## **Environment** 

## **Environmental Funders Network - £1,000 over one year** 

AIM supports the Network’s mission to increase funding for environmental causes and support the environmental philanthropy sector to be as effective as possible. The EFN encourages donors to focus on climate change, biodiversity, and sustainability. Through its Where the Green Grants Went report, EFN has highlighted funding trends and gaps, while fostering collaboration among funders for more strategic grantmaking. By advocating for grassroots initiatives and underrepresented issues like environmental justice, EFN has amplified the impact of environmental philanthropy, driving innovation and positive change across the sector. 

## **Young People** 

## **Island Careers Partnership (ICP) - £9,000 over one year** 

This small Isle of Wight charity is building strong links between schools and business to help guide young people into the world of work. This follow-on grant helps to fund the activities of a part time administrator. ICP has made significant strides in enhancing career opportunities and skills development for residents. They have strengthened careers education in schools, providing young people with access to work experience, employer engagement, and tailored guidance, particularly for vulnerable groups. The ICP has also delivered targeted skills programmes in key sectors such as engineering and healthcare, aligned with local economic needs, while fostering stronger employer-education links to create apprenticeships and work placements. Initiatives like the Isle of Wight Skills Fund have addressed skills shortages and supported community projects, boosting employability and economic growth. These efforts highlight the ICP’s commitment to building a skilled workforce and improving career prospects across the island. 

## **Children & Young People's Mental Health Coalition (CYPMHC) - £60,000 over three years** 

A follow-on unrestricted grant towards the core costs of the CYPMHC. Founded in 2010 with keystone funding from AIM, the CYPMHC supports all those working to improve babies’, children’s and young people’s mental health. Through their collective voice, they influence and shape policy, systems and practice by listening to and learning from their 290+ members, supporters, children, young people and families. 

CYPMHC has played a key role in advocating for the Mental Health Act reforms, ensuring that the voices of children and young people were considered in proposed changes to legislation. The Coalition has also been instrumental in pushing for greater investment in early intervention services, particularly in schools and communities, and has successfully highlighted the need for cross-government action to address the mental health crisis among young people. 

Additionally, CYPMHC has produced influential reports and briefings, such as their work on the impact of the cost-of-living crisis on young people’s mental health, which has informed parliamentary debates and policy discussions. Their collaborative approach, bringing together over 200 organisations, has strengthened collective advocacy efforts, ensuring that children and young people’s mental health remains a priority on the national agenda. These achievements demonstrate their ongoing commitment to driving systemic change and improving mental health support for young people. 

## **Young Minds - £30,000 over one year** 

AIM has supported YoungMinds since 2017 in its mission to ensure young people get the mental health support they need. This final grant was made to further YoungMind’s policy work to drive systemic change and enhance mental health services that prioritise early intervention, accessible support, and equitable care, emphasising the need for increased funding, improved training for professionals, and integrated support across schools, communities, and healthcare systems to foster a more supportive environment for young people's mental wellbeing. 

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**The AIM Foundation** Trustees’ Report For the Year Ended 31 August 2024 

One key achievement was their role in securing the government’s commitment to funding mental health support teams in schools, which has expanded access to early intervention services for young people. They also played a significant part in advocating for the inclusion of mental health education in the national curriculum, helping to reduce stigma and promote awareness. Additionally, their campaigns have contributed to increased government funding for children and young people’s mental health services, ensuring these services remain a priority. YoungMinds’ efforts have also amplified the voices of young people in policy discussions, ensuring their experiences and needs are central to decision-making processes. 

## **Sustainable Wellbeing Fund** 

**Hot or Cool Institute - £35,000 over one year** A follow-on grant towards the production of a series of short films to coincide with the relaunch of the Happy Planet Index (HPI), a measure of sustainable wellbeing, ranking countries by how efficiently they deliver long, happy lives using our limited environmental resource. 

The HPI has achieved significant success in reshaping how progress and wellbeing are measured globally. By focusing on sustainable wellbeing - combining life expectancy, wellbeing, and ecological footprint - the HPI has challenged traditional economic metrics like GDP, highlighting the importance of environmental sustainability and quality of life. Its rankings have influenced policymakers, academics, and organisations to prioritise holistic development strategies that balance human happiness with planetary health. The HPI has also raised public awareness about the need for sustainable living, inspiring individuals and governments to adopt practices that promote both wellbeing and environmental stewardship. Its innovative approach has made it a key reference in discussions about sustainable development and alternative measures of progress. 

## **Family Fund** 

Atlantic Salmon Trust - £1,000 The Rivers Trust - £1,000 The Felix Project - £1,000 Friends of Bealings School - £1,000 Suffolk Community Foundation - £2,500 Snape School Parent and Staff Association - £1,000 

## **Multiyear Grants** 

In addition to the new grants awarded this year, the foundation continues to manage and support multi-year grants awarded in previous years. These grants represent long-term partnerships with organisations that were aligned closely with our mission and strategic goals. Throughout the year, we conducted regular reviews of these grants, ensuring that all payments were released in accordance with agreed milestones and that grantees were meeting their objectives. This ongoing engagement reflects our commitment to fostering sustained impact and supporting initiatives that require multi-year funding to achieve their full potential. 

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**The AIM Foundation** Trustees’ Report For the Year Ended 31 August 2024 

Examples of multi-year grants awarded in previous years and the payments sent in 2023/24 include: 

## **Children & Young People’s Mental Health** 

Anna Freud - £35,000 Impetus - £30,000 MAC-UK - £30,000 Place2Be - £50,000 The Children's Society - £30,000 Youth Access - £30,000 Youthscape - £35,000 

## **Early Years** 

Alstrom Syndrome UK - £113,000 Home-Start UK - £35,000 Institute of Health Visiting - £30,000 Parent Infant Foundation - £40,000 

## **Environment** 

Beaver Trust - £30,000 Synchronicity Earth - £25,000 

## **Nutritional Wellbeing** 

Nutritank - £35,000 

## **Financial Review** 

The results include the audited financial statements of Cytoplan Limited and its wholly owned subsidiaries, Nature’s Own Limited and Biogrow Limited, until the date of disposal (30 November 2023). The results of the subsidiaries are detailed in Note 4. 

As a result of the change in ownership, no gift aid payments were received from Cytoplan this year. 

Following the establishment of The Nutritional Wellbeing Foundation, and transfer of share in Cytoplan Limited and wholly owned subsidiaries, the unspent reserves of £429,605 in AIM’s restricted fund for Nutrition were transferred to The Nutritional Wellbeing Foundation in early 2024, along with the commitments made towards nutritional grants of £391,503. 

Within the group accounts, there was an extraordinary item being the gift of the net assets of Cytoplan Limited as at the date of donation of £5,759,059. Within the charity accounts, this is limited to the value of the share capital donated of £910,000. 

The consolidated results for the year show income of £2,637,265 and a deficit of £4,241,599 after inclusion of the extraordinary items outlined above (2023: income of £9,908,559 and a deficit of £659,194). 

The charity’s results as a standalone entity show income of £163,854 and a surplus of £80,860 after the inclusion of the extraordinary items outlined above (2023: income of £1,097,053 and a deficit of £1,317,670). In 2024, the results of the charity (and consolidated results) were boosted by gains on investments of £1,171,500 – without this gain the charity would have generated a deficit due to grant commitments. Of this figure, £908,301 was generated through the sale of our investments as part of the process of moving investment managers. 

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**The AIM Foundation** Trustees’ Report For the Year Ended 31 August 2024 

The charity has awarded grants in this period (including future year commitments) of £197,500 (2023: £2,198,242), and physically made grant payments of £730,750 (2023: £1,260,307), further details of which are set out in Note 23. 

As a result of the disposal of the subsidiaries, at the year end the balance sheet total for the charity is the same as that of the group at £10,665,700. 

## **Reserves Policy** 

During 2023/24 grants were paid from restricted donations from Cytoplan Limited, the restricted fund donation from Sylvia Adams Trust and investment income, supported by the charity’s unrestricted reserves. 

Following the strategic review in 2023/24 and the creation of the Nutritional Wellbeing Foundation, AIM’s grantmaking is now funded through a sustainable and carefully managed approach to our endowment, ensuring that we can support impactful initiatives today while preserving resources for future generations. A portion of the endowment’s returns, including income and capital gains, is allocated annually to fund grants, in line with a defined spending policy that balances current needs with long-term financial stability. 

This policy involves distributing a target percentage of the endowment’s value, aligned with inflation-adjusted growth, to maintain the real value of the fund over time. By adhering to this disciplined approach, we want to ensure that our grantmaking remains consistent and impactful, while safeguarding the endowment’s ability to support our mission for years to come. This strategy reflects our commitment to both immediate charitable goals and the enduring sustainability of our resources. 

The charity’s unrestricted funds of £10,665,700 are represented by investments of £10,710,355, cash of £493,935 and grant commitments and other creditors of £538,590. 

## **Investment Policy** 

In late 2023 the Trustees undertook a thorough review of their investments and this resulted in the adoption of a revised investment policy statement, which provided clarity around risk and return objectives whilst also incorporating a number of stated ESG objectives. 

The revised investment policy led the Trustees to carry out a full review of its investments. They approached several investment managers who could provide solutions aligned with AIM’s investment objectives and made the decision to move AIM’s investment portfolio from a discretionary portfolio managed by MICL Ltd to Cazenove’s pooled Sustainable Multi-Asset Fund for Charities. This was completed in March 2024. 

The Cazenove Sustainable Multi-Asset Fund for Charities offers a balanced and responsible investment approach. By integrating environmental, social, and governance (ESG) principles into investment decisions, the fund ensures portfolios support positive social and environmental outcomes. The Fund employs a diversified multi-asset strategy, investing across equities, bonds, and alternative assets to balance growth, income generation, and risk management, while prioritising long-term capital growth and preservation - essential for sustaining charitable endowments like AIM’s. The fund also engages actively with companies to promote sustainable practices, aligning with the ethical priorities of charitable investors. With transparent reporting on both financial performance and ESG impact, the fund enables charities to monitor how their investments contribute to their mission and values, making it a compelling choice for foundations seeking to align their investments with their ethical goals while achieving financial stability and long-term growth. 

The performance of the investments is monitored closely both by the portfolio manager and the Trustees on a quarterly basis. 

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**The AIM Foundation** Trustees’ Report For the Year Ended 31 August 2024 

## **Stewardship of Investments** 

The Cazenove Sustainable Multi-Asset Fund (SMAF) Impact Report 2023 shows that the fund achieved a net return of 8.2%, outperforming its benchmark while maintaining a focus on sustainability. The portfolio’s carbon intensity was 30% lower than the broader market, reflecting its commitment to reducing environmental harm. Additionally, 15% of the fund’s assets were allocated to green bonds and renewable energy projects, contributing to the avoidance of an estimated 12,000 tonnes of CO2 emissions. The fund also prioritised social impact, with 10% of investments directed towards social housing, healthcare, and education initiatives, benefiting over 50,000 individuals through improved access to essential services. 

The report highlights the fund’s active stewardship, with 90% of investee companies engaged on ESG issues, leading to tangible improvements in areas such as gender diversity and governance. For instance, 25% of portfolio companies now have gender-balanced boards, up from 18% the previous year. These statistics underscore SMAF’s dual focus on delivering financial returns and driving positive change, making it a leading choice for investors seeking to align their portfolios with sustainable and ethical goals. The fund’s transparent reporting and measurable impact demonstrate how capital can be deployed to generate both returns and meaningful societal benefits. 

## **Cytoplan Limited Corporate Responsibility Report** 

The Trustees have received, adopted and endorsed the Cytoplan Limited report written on our behalf by the executive team. 

## **Our Ethos** 

Cytoplan’s mission is: 

## _**In a world of increasing chronic disease, we empower people to live longer and better.**_ 

We do this by: 

- The products we sell 

- The education and information we present 

- • The money we make for the charity 

As a management team and a business, we believe products we sell help people with health issues and help prevent health issues as part of a healthy lifestyle, the education and information we provide support people in their journey with a specific issue or whether they are trying to live a healthier life, and all the money we make as a business is available for the charity to spend on good causes that assist others. We are on a three-year strategic cycle where we aim to achieve a turnover of £15 million by 2027, as well as create a positive change for over 80k people a year. 

Cytoplan is focused on creating and distributing the most Bio-effective supplements on the market, which means our products contain nutrients that are designed to be as easily absorbed as possible by the body and then specifically targeted to be utilised for their intended purpose. 

We have historically been a practitioner brand, and it’s important for customers to know our products are practitioner-recommended, our products are tried and tested by thousands of health professionals every day to support their patients' needs. 

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**The AIM Foundation** Trustees’ Report For the Year Ended 31 August 2024 

We understand that there are two major needs driving our customers to shop with us: 

1. **Therapeutic -** Customers have specific issues, such as joint concerns or digestive problems that our products can help resolve. 

2. **Preventative -** Customers are generally healthy but are taking active steps to maintain their wellbeing through diet and lifestyle changes, and our products are part of these changes. 

Both customer groups love life and aim to be heathier for longer by taking our products. 

Education and information have always been part of our proposition at Cytoplan, and we believe that a natural approach to looking after yourself and the decisions you make holds the key to a happier and healthier life. Therefore, we often run educational talks and webinars on how people can improve their health through diet and lifestyle changes beyond the supplements we offer. 

## **Performance Overview 2023/24** 

The financial year turnover finished at £10.1 million which is a YOY increase of 10.2%. The consumer customer group grew by 14%, the Practitioner customer group Grew by 10% and Export B2B grew by 21%. 

During the year we recruited 34k new customers which is 8% up on the previous year. Existing customers 36k was 8% up. Our product margins continue to perform well, averaging 69% over the year, due to robust management of suppliers and a considered cost-plus pricing strategy. 

## **Trends** 

We are observing a trend in magnesium sales with a significant increase in demand. Other trends throughout the year for taurine had a short-term impact. Vitamin D demand remains strong, even though this market is now very competitive and saturated. 

Practitioners are holding less stock in favour of directing clients to shop directly with us. Most practitioners have moved to a hybrid model where they only see a limited amount of clients face-to-face. 

Subscribe and Save is now part of most supplement brands’ propositions; Cytoplan launched a subscription service in April 2024, with promising early results 

## **Financial or Operational Risks** 

Risks included moving to new premises, managing the building programme and managing costs. However, the build came in on budget, and during the move in May 2024, we had only one day where we didn’t dispatch orders. 

Cybersecurity is a significant risk for all businesses, especially e-commerce-related businesses. We work with third parties to ensure our technology estate is as secure as possible and to ensure training is conducted for all staff members. 

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**The AIM Foundation** Trustees’ Report For the Year Ended 31 August 2024 

## **Our Environmental Policy** 

At Cytoplan, we are environmentally conscious, with an ongoing commitment to progressive changes. 

## **Current:** 

Energy from renewable sources: solar panels are now utilised for a percentage of our energy usage, and diesel generators were sold and replaced by solar panels. We request suppliers to provide Cytoplan with their environmental policies to ensure our values are aligned, giving preference (where the product allows) to suppliers that are aware of and working to reduce their environmental impact. We have changed to biodegradable Jiffy bags, allowing for a more environmentally friendly delivery option, with up to 1,100 orders processed daily. 

## **Future:** 

We will set targets around our GHG emissions/carbon footprint, aiming to reduce our environmental impact by decreasing carbon emissions from scope 1 and scope 2 by a percentage per year relative to turnover. A bike rack will be installed to encourage cycling to work rather than driving. Electric charging points are in place and will be activated later this year. As part of BCorp, we are collaborating with suppliers to ask them, where possible, to report on their environmental impact and carbon footprint, as well as any processes or targets they have set and whether they are achieving them. As part of a wider brand review, we will assess our packaging to determine if we can use more environmentally friendly options (recycled as well as recyclable) while maintaining product quality and stability. 

## **The Well-Being of Cytoplan Staff** 

We have established a new onboarding programme so that all new starters have the chance to hear from each department about their contribution to Cytoplan. We have set up a social committee with a representative from each department to discuss issues facing the business from an employee perspective and to recommend changes and events that can support our staff; the social committee meets once a quarter. 

Each year, we offer up to £250 per person for any complementary therapy, in addition to a list of other benefits. Hybrid working is available for some positions, if the roles allow it. Other benefits include five free products per month and encouragement of healthy lifestyles. We provide access to online GP appointments and mental, emotional, and practical help as needed on an individual basis. We retain the services of an Employee Assistance Programme provider for our staff. 

There is an annual company-wide bonus related to product sales, and staff are kept informed about business performance monthly through emails, on notice boards, and once a quarter during a company-wide meeting to which everyone is invited. 

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**The AIM Foundation** Trustees’ Report For the Year Ended 31 August 2024 

## **Statement of Trustees Responsibilities** 

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgments and accounting estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed/constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 

The Trustees’ Report was approved by the trustees on 24 April 2025 and signed on their behalf by: 

C D Marks - Trustee 

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**The AIM Foundation** Independent Auditors' Report to the Trustees and Members For the Year Ended 31 August 2024 

## **Opinion** 

We have audited the financial statements of The AIM Foundation (the 'parent charity') and its subsidiaries (the ‘group’) for the year ended 31 August 2024, which comprise the consolidated and parent charity Statement of Financial Activities, the consolidated and parent charity Balance Sheets, the consolidated and parent charity Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the group’s and of the parent charity's affairs as at 31 August 2024 and of the group’s incoming resources and application of resources for 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 opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial 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 to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustee’s use of the going concern basis 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 cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the original financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of the report. 

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**The AIM Foundation** Independent Auditors' Report to the Trustees and Members For the Year Ended 31 August 2024 

## **Other information** 

The other information comprises the information included in the Trustees’ Report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Matters on which we are required to report by exception** 

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion: 

- the information given in the financial statements is inconsistent in any material respect with the Trustees’ Report; 

- sufficient accounting records have not been kept; 

- the financial statements are not in agreement with the accounting records and returns; and 

- we have not received all the information and explanations we require for the purposes of our audit. 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees' Responsibilities set out on page 15, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the group and parent charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the parent charity or to cease operations, or have no realistic alternative but to do so. 

## **Auditor’s responsibilities for the audit of the financial statements** 

We have been appointed as auditor under the Charities Act 2011, Section 151 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

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**The AIM Foundation** Independent Auditors' Report to the Trustees and Members For the Year Ended 31 August 2024 

Irregularities including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlines above, to detect misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

## **The extent to which the audit was considered capable of detecting irregularities including fraud** 

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: 

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; 

- we identified the laws and regulations applicable to the charity through discussions with management, and from our commercial knowledge and experience of the charity and grant making sector; 

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Charities Act 2011, fundraising regulator, anti-bribery and data protection legislation; 

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and 

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. 

We assessed the susceptibility of the group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: 

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and 

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. 

To address the risk of fraud through management bias and override of controls, we: 

   - performed analytical procedures to identify any unusual or unexpected relationships; 

   - tested journal entries to identify unusual transactions; 

   - assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and 

- investigated the rationale behind significant or unusual transactions. 

- In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: 

   - agreeing financial statement disclosures to underlying supporting documentation; 

   - reading the minutes of meetings of those charged with governance; 

   - enquiring of management as to actual and potential litigation, claims and breaches of relevant legislation; and 

   - reviewing correspondence with the Charity Commission and other relevant regulators including the charity’s legal advisors and insurers. 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. 

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**The AIM Foundation** Independent Auditors' Report to the Trustees and Members For the Year Ended 31 August 2024 

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. 

## **Use of our report** 

This report is made solely to the group and parent charity’s members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the group and parent charity’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the group and parent charity and the group and parent charity’s members as a body and the parent charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. 

Albert Goodman LLP , Statutory Auditor 

Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX 

Date:  15 May 2025 

Albert Goodman LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. 

______________________________________________________________________________ 

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**The AIM Foundation** Consolidated Statement of Financial Activities For the Year Ended 31 August 2024 

|**Unres-**<br>**tricted**<br>**£**<br>**Income**<br>_Income from other trading activity:_<br>Commercial trading operations<br>4<br>2,455,776<br>Donations and legacies<br>-<br>Investment income<br>3<br>181,489<br>**Total income**<br>2,637,265<br>**Expenditure**<br>_Expenditure on raising funds:_<br>Commercial trading operations<br>4<br>1,946,811<br>Investment management costs<br>61,304<br>Expenditure on charitable<br>activities<br>5<br>185,088<br>**Total expenditure**<br>2,193,203<br>Extraordinary item<br>22<br>(5,797,161)<br>**Notes**|**Unres-**<br>**tricted**<br>**£**<br>**Income**<br>_Income from other trading activity:_<br>Commercial trading operations<br>4<br>2,455,776<br>Donations and legacies<br>-<br>Investment income<br>3<br>181,489<br>**Total income**<br>2,637,265<br>**Expenditure**<br>_Expenditure on raising funds:_<br>Commercial trading operations<br>4<br>1,946,811<br>Investment management costs<br>61,304<br>Expenditure on charitable<br>activities<br>5<br>185,088<br>**Total expenditure**<br>2,193,203<br>Extraordinary item<br>22<br>(5,797,161)<br>**Notes**|**Res-**<br>**tricted**<br>**£**<br>-<br>-<br>-|**2024**<br>**Total**<br>**£**<br>2,455,776<br>-<br>181,489|**Unres-**<br>**tricted**<br>**£**<br>9,201,133<br>-<br>178,520|**Res-**<br>**tricted**<br>**£**<br>-<br>528,906<br>-|**2023**<br>**Total**<br>**£**<br>9,201,133<br>528,906<br>178,520|
|---|---|---|---|---|---|---|
||2,637,265|-|2,637,265|9,379,653|528,906|9,908,559|
|||-<br>-<br>60,000|1,946,811<br>61,304<br>245,088|8,142,773<br>67,637<br>1,797,247|-<br>-<br>440,000|8,142,773<br>67,637<br>2,237,247|
||2,193,203|60,000|2,253,203|10,007,657|440,000|10,447,657|
|||-|(5,797,161)|-|-|-|
|Net (losses)/gains on<br>investments<br>11/14<br>**Net (expenditure)/income and**<br>**net movement in funds**<br>**Reconciliation of funds**|1,171,500|-|1,171,500|(120,096)|-|(120,096)|
||(4,181,599)|(60,000)<br>88,906|(4,241,599)<br>14,907,299|(748,100)<br>15,566,493|88,906<br>-|(659,194)<br>15,566,493|
|Total funds brought forward|14,818,393||||||
|**Total funds carried forward**<br>17 10,636,794|||||||
|||28,906|10,665,700|14,818,393|88,906|14,907,299|
||||||||



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

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**The AIM Foundation** Parent Charity Statement of Financial Activities For the Year Ended 31 August 2024 

|**Unres-**<br>**tricted**<br>**£**<br>**Income**<br>Donations and legacies<br>-<br>Investment income<br>163,854<br>**Total income**<br>163,854<br>**Expenditure**<br>_Expenditure on raising funds:_<br>Investment management costs<br>61,304<br>Expenditure on charitable<br>activities<br>5<br>185,088<br>**Total expenditure**<br>246,392<br>Extraordinary item<br>22<br>61,015<br>Net (losses)/gains on<br>investments<br>11<br>1,171,500<br>**Net (expenditure)/income and**<br>**net movement in funds**<br>1,149,977<br>**Reconciliation of funds**<br>Total funds brought forward<br>9,486,817<br>**Total funds carried forward**<br>17 10,636,794<br>**Notes**|**Unres-**<br>**tricted**<br>**£**<br>**Income**<br>Donations and legacies<br>-<br>Investment income<br>163,854<br>**Total income**<br>163,854<br>**Expenditure**<br>_Expenditure on raising funds:_<br>Investment management costs<br>61,304<br>Expenditure on charitable<br>activities<br>5<br>185,088<br>**Total expenditure**<br>246,392<br>Extraordinary item<br>22<br>61,015<br>Net (losses)/gains on<br>investments<br>11<br>1,171,500<br>**Net (expenditure)/income and**<br>**net movement in funds**<br>1,149,977<br>**Reconciliation of funds**<br>Total funds brought forward<br>9,486,817<br>**Total funds carried forward**<br>17 10,636,794<br>**Notes**|**Res-**<br>**tricted**<br>**£**<br>-<br>-|**2024**<br>**Total**<br>**£**<br>-<br>163,854|**Unres-**<br>**tricted**<br>**£**<br>-<br>168,147|**Res-**<br>**tricted**<br>**£**<br>928,906<br>-|**2023**<br>**Total**<br>**£**<br>928,906<br>168,147|
|---|---|---|---|---|---|---|
||163,854|-|163,854|168,147|928,906|1,097,053|
|||-<br>60,000|61,304<br>245,088|67,637<br>1,166,999|-<br>1,070,248|67,637<br>2,237,247|
||246,392|60,000|306,392|1,234,636|1,070,248|2,304,884|
|||(1,009,117)<br>-|(948,102)<br>1,171,500|-<br>(109,839)|-<br>-|-<br>(109,839)|
||1,149,977<br>9,486,817|(1,069,117)<br>1,098,023|80,860<br>10,584,840|(1,176,328)<br>10,663,145|(141,342)<br>1,239,365|(1,317,670)<br>11,902,510|
|||28,906|10,665,700|9,486,817|1,098,023|10,584,840|
||||||||



The statement of financial activities includes all gains and losses recognised in the year. 

All income and expenditure derive from continuing activities. 

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**The AIM Foundation** Balance Sheet and Consolidated Balance Sheet As at 31 August 2024 

|**Notes**<br>**Fixed assets**<br>Intangible assets<br>9<br>Tangible assets<br>10<br>Investments<br>11<br>**Current assets**<br>Stock<br>12<br>Debtors<br>13<br>Other financial assets<br>14<br>Cash at bank and in hand<br>**Liabilities:**<br>Creditors: amounts falling due within<br>15<br>one year|**Group**<br>**2024**<br>**£**<br>-<br>-<br>10,710,355<br>10,710,355<br>-<br>-<br>-<br>493,935<br>493,935<br>(538,590)|**Charity**<br>**2024**<br>**£**<br>-<br>-<br>10,710,355<br>10,710,355<br>-<br>-<br>-<br>493,935<br>493,935<br>(538,590)|**Group**<br>**2023**<br>**£**<br>84,277<br>374,005<br>10,194,120<br>10,652,402<br>1,235,842<br>380,018<br>859,368<br>5,238,909<br>7,714,137<br>(2,847,973)|**Charity**<br>**2023**<br>**£**<br>-<br>-<br>11,104,120|
|---|---|---|---|---|
|||||11,104,120|
|||||-<br>-<br>-<br>947,707|
|||||947,707<br>(1,466,987)|
||||||
|**Net current assets**|(44,655)|(44,655)|4,866,164|(519,280)|
|**Total assets less current liabilities**<br>Creditors: amounts falling due after<br>one year<br>15<br>Provisions: Deferred taxation<br>16a<br>Provisions: Pension Liability<br>16b<br>**Net Assets**<br>**Funds:**<br>Unrestricted funds:<br>Designated funds<br>General funds<br>Restricted funds<br>**Total funds**<br>17|10,665,700<br>-<br>-<br>-<br>**10,665,700**<br>386,258<br>10,250,536<br>10,636,794<br>28,906<br>**10,665,700**|10,665,700<br>-<br>-<br>-<br>**10,665,700**<br>386,258<br>10,250,536<br>10,636,794<br>28,906<br>**10,665,700**|15,518,566<br>(9,125)<br>72,829<br>(674,971)<br>**14,907,299**<br>386,258<br>14,432,135<br>14,818,393<br>88,906<br>**14,907,299**||
|||||10,584,840<br>-<br>-<br>-|
|||||**10,584,840**|
|||||386,258<br>9,100,559|
|||||9,486,817<br>1,098,023|
|||||**10,584,840**|
||||||



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**The AIM Foundation** Balance Sheet and Consolidated Balance Sheet As at 31 August 2024 

The notes on pages 25 – 46 form part of these accounts. 

Approved by the Board for issue on 24 April 2025 and signed on their behalf by: 

C D Marks - Trustee 

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**The AIM Foundation** Consolidated and Parent Charity Cash Flow Statement For the Year Ended 31 August 2024 

|**Group**<br>**2024**<br>**Note**<br>**£**<br>**Cash flows from operating activities**<br>Net income/ (expenditure) for the year<br>(4,241,600)<br>_Adjustments:_<br>Amortisation of intangibles<br>9<br>15,618<br>Depreciation<br>10<br>27,827<br>Loss on investments<br>11/14<br>(913,018)<br>Revaluation of investment<br>11<br>(223,230)<br>Loss on disposal of assets<br>899,147<br>(4,435,256)<br>_Working capital adjustments:_<br>(Increase) / decrease in stocks<br>12<br>-<br>(Increase) / decrease in debtors<br>13<br>-<br>(Decrease) / increase in creditors<br>15<br>(928,397)<br>(Decrease) / increase in provisions & deferred tax<br>16<br>-<br>**Net cash provided by operating activities**<br>(5,363,653)<br>_Cash flows from investing activities:_<br> Acquisition of intangible assets<br>-<br> Acquisition of tangible assets<br>10<br>(10,783,742)<br>Proceeds from sale of tangible assets<br>11,402,421<br> Acquisition of fixed asset investments<br>11<br>-<br>Proceeds from sale of fixed asset investments<br>11<br>-<br> Acquisition of current asset investments<br>14<br>-<br>Net cash flow from investing activities<br>618,679<br>**Net increase/(decrease) in cash**<br>**and cash equivalents**<br>(4,744,974)<br>Cash and cash equivalents at 1 September<br>5,238,909<br>Cash and cash equivalents at 31 August<br>493,935|**Charity**<br>**2024**<br>**£**<br>80,860<br>-<br>-<br>(3,018)<br>(223,230)<br>-<br>(145,388)<br>-<br>-<br>(928,397)<br>-<br>(1,073,785)<br>-<br>(10,782,408)<br>11,402,421<br>-<br>-<br>-<br>620,013<br>(453,772)<br>947,707<br>493,935|**Group**<br>**2023**<br>**£**<br>(659,194)<br>62,572<br>114,412<br>120,096<br>(131,583)<br>6,608<br>(487,089)<br>1,027,528<br>(26,707)<br>1,327,078<br>(76,973)<br>1,763,837<br>-<br>(38,832)<br>3,066<br>(1,698,862)<br>1,379,386<br>(75,000)<br>(430,242)<br>1,333,595<br>3,905,314<br>5,238,909|**Charity**<br>**2023**<br>**£**<br>(1,317,670)<br>-<br>-<br>109,839<br>(131,583)<br>-|
|---|---|---|---|
||||(1,339,414)<br>-<br>-<br>940,355<br>-|
||||(399,059)<br>-<br>-<br>-<br>(1,698,862)<br>1,379,386<br>-|
||||(319,476)|
||||(718,535)|
||||1,666,242|
||||947,707|
|||||



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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

## **1 General information** 

The AIM Foundation is a private trust, registered as a charity. Details of the charity including the registered office is shown in Reference and Administrative details in the Trustees Report. 

## **2 Accounting policies** 

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: 

## a 

## **Basis of preparation** 

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investments. 

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2011. 

The trustees have assessed the charity’s activities with regard to the Charity Commission’s guidance on public benefit. The AIM Foundation meets the definition of a public benefit entity under FRS 102. 

The financial statements have been prepared on a going concern basis and the Trustees are not aware of any material uncertainties that would cast doubt on the charity’s ability to continue as a going concern. Grants are awarded only when there are sufficient reserves and income, therefore the Trustees consider that the going concern assumption remains appropriate. 

The functional currency of The AIM Foundation is considered to be Pounds Sterling as that is the currency of the primary economic environment in which the foundation operates. 

## b **Group accounts** 

These financial statements consolidate the results of the charity and its wholly owned subsidiaries, Cytoplan Limited, Nature’s Own Limited and Biogrow Limited, on a line by line basis. The subsidiaries are registered companies incorporated in England and Wales. 

In the parent charity financial statements, the investment in subsidiaries is accounted for at cost less impairment. 

The investment in the subsidiaries was disposed of on 30 November 2023 for £nil consideration. The results of the subsidiaries for the 3 months up until the date of disposal are therefore included within the consolidated accounts. 

## c **Funds structure** 

The restricted fund represents assets held for a specific purpose. Please see note 17 for more details. 

Unrestricted funds comprise accumulated surpluses and deficits on general funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. 

Designated funds comprise income received for a purpose that has been designated by the trustees. Please see note 17 for more details. 

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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

## e **Income** 

All income is included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies apply to categories of income: 

   - Donation and legacies is received by way of donations and gifts and is included in full in the Statement of Financial Activities, when receivable. 

   - Grants where entitlement is not conditional on the delivery of specific performance by the charity are recognised when the charity is entitled to the grant. 

   - Income from trading activities is included in the SOFA in the period to which it relates. 

- f 

## **Financial instruments** 

Financial assets and liabilities are recognised/(derecognised) when the charity becomes/(ceases to become) party to the contractual provisions of the instrument. The charity holds the following basic financial assets and liabilities: 

- Short term debtors and creditors: 

   - Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. 

- Fixed asset investments qualifying as basic financial instruments: Non-basic equity investments are measures at fair value through income and expenditure. 

Other financial instruments not qualifying as basic: 

- Convertible loan stock has been recognised as a non-basic investment. All non-basic investments are carried at fair value except to the extent that a reliable measurement of fair value cannot be established, in which case the investment is carried at cost less impairment. 

## g 

## **Expenditure** 

All expenditure is accounted for on an accruals basis and has been classified under headings which aggregate all costs related to the category. Grants payable represent amounts committed for charitable purposes to institutions in the financial period. 

## h 

## **Intangible assets** 

Intangible assets are amortised straight line over the useful life of the asset. 

Computer software and consultancy - 15% reducing balance. 

## i **Fixed assets** 

Tangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expenses of acquisition. 

- j 

## **Depreciation** 

Depreciation is calculated so as to write off the cost of an asset over its useful economic life of that asset as follows: 

|s follows:||
|---|---|
|Leasehold buildings|straight line over 5 to 25 years|
|Fixtures and fittings|straight line over 3 to 25 years|
|Plant and machinery|straight line over 3 to 10 years|
|Motor vehicles|straight line over 3 to 5 years|
|Computer equipment|straight line over 3 to 5 years|



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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

## k **Fixed asset investments** 

Investments which are publicly traded are recognised initially at fair value which is normally the transaction price (but excludes any transaction costs). Subsequently, investments which are publicly traded are held at market value, with all realised and unrealised gains and losses passing through the SOFA. 

Investments which are not publicly traded are held at cost less impairment. 

- l **Gains and losses** 

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (or purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value (or purchase date if later). Realised and unrealised gains are not separated in the Statement of Financial Activities. 

- m 

## **Stocks** 

Stock is included at the lower of cost or net realisable value, after making due allowance for obsolete and slow-moving items. Cost comprises all direct expenditure including variable overheads. 

## n 

## **Operating lease agreements** 

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. 

## o 

## **Defined contribution pension costs** 

The trading subsidiaries operate a defined contribution scheme for employees. The assets of the scheme are held separately from those of the charity. The annual contributions payable are charged to the Statement of Financial Activities (SOFA). The charity itself has no employees. 

- p 

## **Other pensions** 

The subsidiary company has an unfunded pension obligation to a director. The financial statements include a provision for the expected cost of providing this pension, based on the annuity rates prevailing at the balance sheet date. 

- q **Irrecoverable VAT** 

Irrecoverable VAT is charged as a cost within the Statement of Financial Activities. 

## **3 Investment Income** 

|Income from listed investments<br>Interest receivable|**Unrestricted**<br>**2024**<br>**£**<br>138,331<br>43,158<br>181,489|**Unrestricted**<br>**2023**<br>**£**<br>148,660<br>29,860|
|---|---|---|
|||178,520|
||||



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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

## **4 Investment in subsidiaries** 

## **Cytoplan Limited/Nature’s Own Limited/Biogrow Limited** 

The parent charity holds 100% of the issued share capital and 100% of the voting rights of Cytoplan Limited (company number 01493205). 

On 30 November 2023, 100% of the shares in Cytoplan were transferred to the Nutritional Wellbeing Foundation, registered charity number 1203987, for £nil consideration. The results below are the activity of the subsidiaries from 1[st] September 2023 to the date of the transfer. 

Nature’s Own Limited (company number 02401115) and Biogrow Limited (company number 12025572) are wholly owned subsidiaries of Cytoplan Limited, and were therefore also transferred to the Nutritional Wellbeing Foundation on 30 November 2024, for £nil consideration. The registered address of the wholly owned trading subsidiaries is: Unit 98b Blackpole Trading Estate West, Worcester, Worcestershire, United Kingdom, WR3 8TJ. The wholly owned trading subsidiaries are incorporated in the United Kingdom. The principal activity of Cytoplan Limited and Nature’s Own Limited is the supply of vitamin, mineral, and enzyme preparations. The principal activity of Biogrow Limited is the growing of non-perennial crops. Nature’s Own Limited is currently dormant. The pro forma consolidated results for Cytoplan Limited and Biogrow Limited are as follows: 

|**2024**<br>**£**<br>Turnover<br>2,455,776<br>2,455,776<br>Cost of sales, distribution and admin expenses<br>(1,945,543)<br>Operating profit / (loss)<br>510,233<br>Profit / (loss) on disposal of tangible fixed assets<br>-<br>Loss on financial assets at fair value<br>-<br>Interest receivable<br>17,635<br>Taxation<br>-<br>Exceptional items<br>(1,268)<br>Gift aid to parent charity<br>-<br>Retained profit / (loss) for the year<br>526,600<br>**The assets and liabilities of the subsidiaries were:**<br>Intangible assets<br>-<br>**Summary profit and loss account**|**2024**<br>**£**<br>Turnover<br>2,455,776<br>2,455,776<br>Cost of sales, distribution and admin expenses<br>(1,945,543)<br>Operating profit / (loss)<br>510,233<br>Profit / (loss) on disposal of tangible fixed assets<br>-<br>Loss on financial assets at fair value<br>-<br>Interest receivable<br>17,635<br>Taxation<br>-<br>Exceptional items<br>(1,268)<br>Gift aid to parent charity<br>-<br>Retained profit / (loss) for the year<br>526,600<br>**The assets and liabilities of the subsidiaries were:**<br>Intangible assets<br>-<br>**Summary profit and loss account**|**2023**<br>**£**<br>9,201,133|
|---|---|---|
|||9,201,133<br>(7,858,706)|
|||1,342,427<br>6,608<br>(10,257)<br>10,373<br>(290,675)<br>-<br>(400,000)|
|||658,476|
|||84,277|
|Tangible fixed assets|-|374,005|
|Current assets<br>Creditors: amounts falling due within one year<br>Total assets less current liabilities<br>Creditors: amounts due falling after one year<br>Deferred taxation<br>Pension liability<br>Aggregate share capital and reserves|-<br>-<br>-<br>-<br>-<br>-<br>-|6,766,430<br>(1,380,986)|
|||5,843,726<br>(9,125)<br>72,829<br>(674,971)|
|||5,232,459|



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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

## **5 Charitable activities** 


**----- Start of picture text -----**<br>
Total Total<br>2024 2023<br>£ £<br> Grants payable (see note 22) 197,500  2,198,242<br> Bank charges 80  90<br> Membership fees 2,173  1,777<br> Governance costs - Audit and accountancy 10,080  9,960<br> Other fees and expenses 35,255  27,178<br>245,088  2,237,247<br>**----- End of picture text -----**<br>


In 2024, £60,000 of the grants payable are in relation to restricted funds, with the balance of £137,500 being in relation to unrestricted funds (2023 - £1,070,248 of grants payable related to restricted funds, with the balance of £1,127,994 being in relation to unrestricted funds). Within this restriction, £nil (2023 - £630,248) is in relation to funds received from the subsidiary company, so only applicable within the charity accounts, leaving a restricted fund expenditure of £60,000 (2023 - £440,000) showing in the group accounts. 

## **6 Staff costs** 


**----- Start of picture text -----**<br>
2024 2023<br>£ £<br>  Wages and salaries 392,001 1,605,375<br>  Social security costs 29,677 130,172<br>  Pension costs 23,633 174,223<br>-<br>  Staff redundancy costs 10,400<br>445,311 1,920,170<br>**----- End of picture text -----**<br>


The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows: 

## **Employee numbers** 

|**Employee numbers**|||
|---|---|---|
||**2024**|**2023**|
||**Number**|**Number**|
|Subsidiaries|50|48|



The above employees were employed for three months of the year by the subsidiary company, until the company was disposed of. The equivalent pro-rata figure across the whole year would be 12. There were no employees of the charity in either period. Trustees are not remunerated. Three trustees were reimbursed travel expenses of £603 (2023: two trustee reimbursed expenses of £1,426). 

The trustees consider the Board of Trustees to comprise all of the key management personnel and therefore there is no key management personnel remuneration to be disclosed (2022: none). Total staff costs include redundancy costs of £nil (2023: £10,400). 

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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

The number of employees (all employed within the trading subsidiaries) whose annual employee benefits (excluding employers pension contribution) exceeded £60,000 were: 


**----- Start of picture text -----**<br>
2024 2023<br>Number Number<br>- -<br> £60,000 - £69,999<br> £70,000 - £79,999 - 2<br> £80,000 - £89,999 - 1<br>- -<br> £90,000 - £99,999<br> £100,000 - £109,999 - 1<br>**----- End of picture text -----**<br>


## **7 Net income/ (expenditure) for the year** 

This is stated after charging: 

|This is stated after charging:|||||||
|---|---|---|---|---|---|---|
||**Charity**||**Subsidiary**||**Total**||
||**2024**|**2023**|**2024**|**2023**|**2024**|**2023**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Amortisation of intangible assets|-|-|15,618|62,572|15,618|62,572|
|Depreciation of tangible assets|-|-|27,827|114,412|27,827|114,412|
|Interest payable|-|-|-|-|-|-|
|**Current auditors’ remuneration for:**|||||||
|Audit services|4,800|5,040|4,250|9,660|9,050|14,700|
|Accounting services|5,280|4,920|-|4,220|5,280|9,140|
||||||||



## **8 Defined contribution pension scheme** 

The subsidiary company operates a defined benefit pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amount to £23,633 (2023: £174,223). Contributions totalling £nil (2023: £14,227) were payable to the scheme at the end of the year and are included in other creditors. 

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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

## **9 Intangible Assets** 


**----- Start of picture text -----**<br>
Computer<br> Group Software Total<br>£ £<br> Cost<br>  At 1 September 2023 379,089  379,089<br>  Additions - -<br>  Disposal of subsidiary company (379,089) (379,089)<br>- -<br>  At 31 August 2024<br> Amortisation<br>  At 1 September 2023 294,812 294,812<br>  Charge for the year 15,618 15,618<br>  Depreciation eliminated on disposal (310,430) (310,430)<br>- -<br>  At 31 August 2024<br> Net book value<br>- -<br>  At 31 August 2024<br>  At 31 August 2023 84,277 84,277<br>**----- End of picture text -----**<br>


There are no intangible assets held by the parent charity. 

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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

## **10 Tangible fixed assets** 

|**Improvements**<br>**Group**<br>**to leasehold**<br>**properties**<br>**£**<br>**Cost**<br>At 1 September 2023<br>294,416<br>Additions<br>-<br>Disposal of subsidiary company<br>(294,416)<br>At 31 August 2024<br>-<br>**Depreciation**<br>At 1 September 2023<br>255,332<br>Charge for the year<br>9,173<br>Depreciation eliminated on disposal<br>(264,505)<br>At 31 August 2024<br>-<br>**Net book value**<br>At 31 August 2024<br>-<br>At 31 August 2023<br>39,084|**Improvements**<br>**Group**<br>**to leasehold**<br>**properties**<br>**£**<br>**Cost**<br>At 1 September 2023<br>294,416<br>Additions<br>-<br>Disposal of subsidiary company<br>(294,416)<br>At 31 August 2024<br>-<br>**Depreciation**<br>At 1 September 2023<br>255,332<br>Charge for the year<br>9,173<br>Depreciation eliminated on disposal<br>(264,505)<br>At 31 August 2024<br>-<br>**Net book value**<br>At 31 August 2024<br>-<br>At 31 August 2023<br>39,084|**Plant and**<br>**equipment**<br>**£**<br>657,529<br>1,334<br>(658,863)|**Motor**<br>**vehicles**<br>**£**<br>27,999<br>-<br>(27,999)|**Total**<br>**£**<br>979,944<br>1,334<br>(981,278)|
|---|---|---|---|---|
||-|-|-|-|
||255,332<br>9,173<br>(264,505)|338,474<br>17,254<br>(355,728)|12,133<br>1,400<br>(13,533)|605,939<br>27,827<br>(633,766)|
||-|-|-|-|
||-|-|-|-|
||39,084|319,055|15,866|374,005|
||||||



There are no tangible fixed assets held by the parent charity. 

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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

## **11 Fixed assets - Investments** 


**----- Start of picture text -----**<br>
Marlborough Cazenove<br>Unlisted Consultants Capital<br>investment (listed) (listed) Total<br>Charity £ £ £ £<br>-<br>Market value b/fwd 910,000  10,194,120  11,104,120<br>- -<br>Additions 10,782,408  10,782,408<br>-<br>Disposals (11,102,421) (300,000) (11,402,421)<br>- -<br>Revaluation (35,252) (35,252)<br>Realised gain/(loss) on<br>  disposal (910,000) 908,301  4,717  3,018<br>- -<br>Unrealised gain/(loss) 258,482  258,482<br>- -<br>At 31 August 2024 10,710,355  10,710,355<br>Group<br>-<br>At 31 August 2024 10,710,355  10,710,355<br>-<br>At 31 August 2023 10,194,120  10,194,120<br>Historical cost<br>- -<br>At 31 August 2024 10,486,947  10,486,947<br>-<br>At 31 August 2023 910,000  8,806,998  9,716,998<br>**----- End of picture text -----**<br>


The value of the listed investments at 31 August 2024 was £10,710,355 (2022: £10,194,120). All listed investments are listed in the UK stock exchange and are valued at market value. 

|**12**<br>**Stocks**|||||
|---|---|---|---|---|
|Finished goods|**Group**<br>**£**<br>-|**2024**<br>**Charity**<br>**£**<br>-|**Group**<br>**£**<br>1,235,842|**2023**<br>**Charity**<br>**£**<br>-|
||||||



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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

## **13 Debtors** 


**----- Start of picture text -----**<br>
2024 2023<br>Group Charity Group Charity<br>£ £ £ £<br>Trade debtors - - 213,388  -<br>Other debtors - - 166,630  -<br>- - -<br>380,018<br>14  Other financial assets<br>2024 2023<br>Group Charity Group Charity<br>£ £ £ £<br>  Current asset investments<br>  Valuation b/fwd 859,368  - 804,299  -<br>- - -<br>  Fair value adjustments  (10,257)<br>  Additions - - 75,000  -<br>- -<br>  Disposals (859,368) (9,674)<br>- - -<br>859,368<br>**----- End of picture text -----**<br>


The current asset investment is valued at cost less impairment. 

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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

## **15 Creditors: Amounts falling due within one year** 


**----- Start of picture text -----**<br>
2024 2023<br>Group Charity Group Charity<br>£ £ £ £<br>Trade creditors - - 364,684  -<br>- - -<br>Other taxation and social security 515,016<br>Other creditors - - 123,708  -<br>Multi year grant commitments 525,000  525,000  1,449,753  1,449,753<br>Accruals and deferred income 13,590  13,590  394,812  17,234<br>538,590  538,590  2,847,973  1,466,987<br>Creditors: Amounts falling due in more than one year<br>2024 2023<br>Group Charity Group Charity<br>£ £ £ £<br>Accruals and deferred income - - 9,125  -<br>- - -<br>9,125<br>16 a)  Provisions - Deferred taxation<br>2024 2023<br>Group Charity Group Charity<br>£ £ £ £<br>- -<br>At 1 September 2023 72,829  59,488<br>- - -<br>(Charge)/credit for the year 13,341<br>- - -<br>Disposal of subsidiary company (72,829)<br>- - -<br>At 31 August 2024 72,829<br>**----- End of picture text -----**<br>


Deferred taxation arises in respect of fixed asset timing differences and in relation to the provision for the pension liability for corporation tax purposes in Cytoplan Limited. 

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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

## **16 b) Provisions - Other pension liability** 


**----- Start of picture text -----**<br>
2024 2023<br>Group Charity Group Charity<br>£ £ £ £<br>- -<br>At 1 September 2023 674,971  738,603<br>- - -<br>Charge/(credit) for the year (63,632)<br>- - -<br>Disposal of subsidiary company (674,971)<br>- - -<br>At 31 August 2024 674,971<br>**----- End of picture text -----**<br>


|**17**<br>**Funds**<br>**2024**<br>**Unrestricted funds**<br>**Restricted funds**<br>Sylvia Adams Trust<br>Charity - designated<br>Charity - general<br>**Funds analysis - group**<br>**Total funds**<br>Subsidiaries|**Opening**<br>**balance**<br>**1 Sept 2023**<br>**£**<br>7,949,676<br>386,258<br>6,482,459|**Incoming**<br>**Resources**<br>**£**<br>163,854<br>-<br>2,473,411|**Outgoing**<br>**Resources**<br>**£**<br>(1,194,494)<br>-<br>(6,795,870)|**Investment**<br>**Movement/**<br>**Transfers **<br>**£**<br>3,331,500<br>-<br>(2,160,000)|**Closing**<br>**balance**<br> **31 Aug 2024**<br>**£**<br>10,250,536<br>386,258<br>-|
|---|---|---|---|---|---|
||14,818,393<br>88,906|2,637,265<br>-|(7,990,364)<br>(60,000)|1,171,500<br>-|10,636,794<br>28,906|
||**14,907,299**|**2,637,265**|**(8,050,364)**|**1,171,500**|**10,665,700**|
|||||||
|**2024**<br>**Unrestricted funds**<br>**Restricted funds**<br>Sylvia Adams Trust<br>**Funds analysis - charity**<br>Charity - general<br>Distributions from subsidiary<br>Shares in subsidiaries<br>Charity - designated<br>**Total funds**|**Opening**<br>**balance**<br>**1 Sept 2023**<br>**£**<br>9,100,559<br>386,258|**Incoming**<br>**Resources**<br>**£**<br>163,854<br>-|**Outgoing**<br>**Resources**<br>**£**<br>(185,377)<br>-|**Investment**<br>**Movement**<br>**£**<br>1,171,500<br>-|**Closing**<br>**balance**<br>**31 Aug 2024**<br>**£**<br>10,250,536<br>386,258|
||9,486,817<br>88,906<br>910,000<br>99,117|163,854<br>-<br>-<br>-|(185,377)<br>(60,000)<br>(910,000)<br>(99,117)|1,171,500<br>-<br>-<br>-|10,636,794<br>28,906<br>-<br>-|
||1,098,023|-|(1,069,117)|-|28,906|
||**10,584,840**|**163,854**|**(1,254,494)**|**1,171,500**|**10,665,700**|



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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

## **2023** 

|**Unrestricted funds**<br>Charity<br>Subsidiaries<br>**Restricted funds**<br>Sylvia Adams Trust<br>**Total funds**<br>**Funds analysis - group**<br>Charity - designated|**Opening**<br>**balance**<br>**1 Sept 2022**<br>**£**<br>9,901,252<br>681,258<br>4,983,983|**Incoming**<br>**Resources**<br>**£**<br>168,147<br>-<br>9,211,506|**Outgoing**<br>**Resources **<br>**£**<br>(2,009,884)<br>(295,000)<br>(7,702,773)|**Investment**<br> **Movements**<br>**£**<br>(109,839)<br>-<br>(10,257)|**Closing**<br>**balance**<br>**31 Aug 2023**<br>**£**<br>7,949,676<br>386,258<br>6,482,459|
|---|---|---|---|---|---|
||15,566,493<br>-|9,379,653<br>528,906|(10,007,657)<br>(440,000)|(120,096)<br>-|14,818,393<br>88,906|
||**15,566,493**|**9,908,559**|**(10,447,657)**|**(120,096)**|**14,907,299**|
|||||||
|**2023**<br>**Unrestricted funds**<br>**Restricted funds**<br>Sylvia Adams Trust<br>**Total funds**<br>Charity - general<br>Shares in subsidiaries<br>Distributions from subsidiary<br>Charity - designated<br>**Funds analysis - charity**|**Opening**<br>**balance**<br>**1 Sept 2022**<br>**£**<br>9,981,887<br>681,258|**Incoming**<br>**Resources**<br>**£**<br>168,147<br>-|**Outgoing**<br>**Resources **<br>**£**<br>(939,636)<br>(295,000)|**Investment**<br> **Movements**<br>**£**<br>(109,839)<br>-|**Closing**<br>**balance**<br>**31 Aug 2023**<br>**£**<br>9,100,559<br>386,258|
||10,663,145<br>-<br>910,000<br>329,365|168,147<br>528,906<br>-<br>400,000|(1,234,636)<br>(440,000)<br>-<br>(630,248)|(109,839)<br>-<br>-<br>-|9,486,817<br>88,906<br>910,000<br>99,117|
||1,239,365|928,906|(1,070,248)|-|1,098,023|
||**11,902,510**|**1,097,053**|**(2,304,884)**|**(109,839)**|**10,584,840**|



In 2022, the charity received £681,258 from a Trust, in which the charity held a life interest. This life interest was realised during the prior year, and the Trustees have elected to designate the receipt from this Trust to providing grants to institutions with sustainable wellbeing outcomes. 

The charity owned 100% of the issued share capital of Cytoplan Limited until 30[th] November 2023, which in turn owns 100% of the issued share capital of Nature’s Own Limited and Biogrow Limited – see note 4 for more details. 

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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

The restricted fund comprises of: 

- Sylvia Adams Trust – During 2023, the charity received distributions from a charity that was winding down. Funds received are to be used to fund specific organisations, within the objects of the charity, as set out by the donor charity – the Sylvia Adams Trust. 

- The shares held in Cytoplan Limited, held at the cost of the shares at the date of the gift. The amount is held in a restricted fund due to restrictive conditions imposed by the donors. These shares were transferred to the Nutritional Wellbeing Foundation for nil consideration on 30[th] November 2023. 

- The distributions from Cytoplan Limited are also held in a restricted fund, to be used on grants specifically to assist with nutrition, as specified by the donor of the shares. Upon disposal of Cytoplan Limited as a subsidiary company, these funds were transferred to the Nutritional Wellbeing Foundation to fund nutritional grants in line with the restriction. 

## **18 Analysis of group net assets between funds** 

|**2024**<br>Fixed assets<br>Current assets<br>Other net current liabilities<br>Long term liabilities<br>Provisions - pension liability<br>Provisions - deferred taxation asset<br>**2023**<br>Fixed assets<br>Current assets<br>Other net current liabilities<br>Long term liabilities<br>Provisions<br>Provisions - deferred taxation asset|**Unrestricted**<br>**funds**<br>**£**<br>10,710,355<br>465,029<br>(538,590)<br>-<br>-<br>-<br>10,636,794<br>**Unrestricted**<br>**funds**<br>**£**<br>10,652,402<br>7,625,231<br>(2,847,973)<br>(9,125)<br>(674,971)<br>72,829<br>14,818,393|**Restricted**<br>**funds**<br>**£**<br>-<br>28,906<br>-<br>-<br>-<br>-<br>28,906<br>**Restricted**<br>**funds**<br>**£**<br>-<br>88,906<br>-<br>-<br>-<br>-<br>88,906|**Total**<br>**funds**<br>**£**<br>10,710,355<br>493,935<br>(538,590)<br>-<br>-<br>-|
|---|---|---|---|
||||10,665,700|
||||**Total**<br>**funds**<br>**£**<br>10,652,402<br>7,714,137<br>(2,847,973)<br>(9,125)<br>(674,971)<br>72,829|
||||14,907,299|
|||||



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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

## **Analysis of parent charity net assets between funds** 

|**2024**<br>Fixed assets<br>Current assets<br>Other net current liabilities<br>**2023**<br>Fixed assets<br>Current assets<br>Other net current liabilities<br>**19**<br>**Financial Instruments**<br>**Categorisation of financial instruments**<br>||**Unrestricted**<br>**funds**<br>**£**<br>10,710,355<br>465,029<br>(538,590)<br>10,636,794<br>**Unrestricted**<br>**funds**<br>**£**<br>10,194,120<br>759,684<br>(1,466,982)<br>9,486,822|**Unrestricted**<br>**funds**<br>**£**<br>10,710,355<br>465,029<br>(538,590)<br>10,636,794<br>**Unrestricted**<br>**funds**<br>**£**<br>10,194,120<br>759,684<br>(1,466,982)<br>9,486,822|**Restricted**<br>**funds**<br>**£**<br>-<br>28,906<br>-<br>28,906<br>**Restricted**<br>**funds**<br>**£**<br>910,000<br>188,023<br>-<br>1,098,023|**Restricted**<br>**funds**<br>**£**<br>-<br>28,906<br>-<br>28,906<br>**Restricted**<br>**funds**<br>**£**<br>910,000<br>188,023<br>-<br>1,098,023|**Total**<br>**funds**<br>**£**<br>10,710,355<br>493,935<br>(538,590)<br>10,665,700<br>**Total**<br>**funds**<br>**£**<br>11,104,120<br>947,707<br>(1,466,982)<br>10,584,845|**Total**<br>**funds**<br>**£**<br>10,710,355<br>493,935<br>(538,590)<br>10,665,700<br>**Total**<br>**funds**<br>**£**<br>11,104,120<br>947,707<br>(1,466,982)<br>10,584,845|
|---|---|---|---|---|---|---|---|
|||||||||
|**Group**<br>**£**<br>**Financial assets**<br>Financial assets measured at fair value through<br>income and expenditure account<br>10,710,355<br>Financial assets measured at amortised cost<br>493,935<br>11,204,290<br>**Financial liabilities**<br>Financial liabilities measured at fair value through<br>income and expenditure account<br>-<br>Financial liabilities measured at amortised cost<br>538,590<br>538,590|||**2024**<br>**Charity**<br>**£**<br>10,710,355<br>493,935<br>11,204,290<br>-<br>538,590<br>538,590||**Group**<br>**£**<br>10,194,120<br>6,346,247<br>16,540,367<br>674,971<br>2,292,876<br>2,967,847||**2023**<br>**Charity**<br>**£**<br>10,194,120<br>947,707|
||||||||11,141,827|
||||||||-<br>1,466,987|
||||||||1,466,987|
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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

|**2024 - Group**<br>Financial assets measured at fair value through<br>income and expenditure account<br>Financial assets measured at amortised cost<br>Financial assets measured at fair value through<br>income and expenditure account<br>Financial liabilities measured at amortised cost<br>**2024 - Charity**<br>Financial assets measured at fair value through<br>income and expenditure account<br>Financial assets measured at amortised cost<br>Financial assets measured at fair value through<br>income and expenditure account<br>Financial liabilities measured at amortised cost<br>**2023 - Group**<br>Financial assets measured at fair value through<br>income and expenditure account<br>Financial assets measured at amortised cost<br>Financial assets measured at fair value through<br>income and expenditure account<br>Financial liabilities measured at amortised cost<br>**2023 - Charity**<br>Financial assets measured at fair value through<br>income and expenditure account<br>Financial assets measured at amortised cost<br>Financial assets measured at fair value through<br>income and expenditure account<br>Financial liabilities measured at amortised cost|**Income**<br>**£**<br>138,331<br>43,158<br>-<br>-<br>181,489<br>**Income**<br>**£**<br>138,331<br>25,523<br>-<br>-<br>163,854<br>**Income**<br>**£**<br>148,660<br>29,860<br>-<br>-<br>178,520<br>**Income**<br>**£**<br>148,660<br>19,487<br>-<br>-<br>168,147|**Expenditure**<br>**£**<br>61,304<br>-<br>-<br>-<br>61,304<br>**Expenditure**<br>**£**<br>61,304<br>-<br>-<br>-<br>61,304<br>**Expenditure**<br>**£**<br>67,637<br>-<br>-<br>-<br>67,637<br>**Expenditure**<br>**£**<br>67,637<br>-<br>-<br>-<br>67,637|**Net gains**<br>**£**<br>1,171,500<br>-<br>-<br>1,171,500<br>**Net gains**<br>**£**<br>1,171,500<br>-<br>-<br>1,171,500<br>**Net gains**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>**Net gains**<br>**£**<br>-<br>-<br>-<br>-<br>-|**Net losses**<br>**£**<br>-<br>-<br>-<br>-|
|---|---|---|---|---|
|||||-|
|||||**Net losses**<br>**£**<br>-<br>-<br>-<br>-|
|||||-|
|||||**Net losses**<br>**£**<br>(120,096)<br>-<br>-<br>-|
|||||(120,096)|
|||||**Net losses**<br>**£**<br>(120,096)<br>-<br>-<br>-|
|||||(120,096)|
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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

## **20 Other financial commitments** 

At 31 August 2024, there were total commitments under non-cancellable operating leases as set out below: 


**----- Start of picture text -----**<br>
2024 2023<br>Group Charity Group Charity<br>£ £ £ £<br>  Amounts payable:<br>- - -<br>  Within one year 111,529<br>- - -<br>  In two to five years 1,228<br>- - - -<br>  Over five years<br>- - -<br>112,757<br>**----- End of picture text -----**<br>


## **21 Related party transactions** 

The charity has taken advantage of exemptions in FRS 102 “Related party disclosures” from disclosing transactions with other members of the group. 

The charity’s policy is that, where trustees or their immediate family have a connection with recipient organisations, they should declare their interest. 

During the year, 100% of the shares held in Cytoplan Limited (along with its subsidiaries, Biogrow Limited and Nature’s Own Limited) were transferred to The Nutritional Wellbeing Foundation, a registered charity (number 1203987) which has the same chair of trustees as the AIM Foundation. Remaining funds from previous donations received from Cytoplan Limited were also transferred to The Nutritional Wellbeing Foundation, along with commitments remaining under multi-year grant agreements for nutritional causes. The shares in Cytoplan Limited (and its subsidiaries) were transferred for £nil consideration. 

The total amount paid to The Nutritional Wellbeing Foundation was £429,605, with commitments to pay future grants amounting to £391,503 being taken on by The Nutritional Wellbeing Foundation. There were no related party transactions requiring disclosure in 2023. 

## **22 Extraordinary Item** 

During the year, the AIM Foundation transferred 100% of its shares held in Cytoplan Limited (and associated subsidiaries) to The Nutritional Wellbeing Foundation (a charity registered in England and Wales, number 1203987) for £nil consideration. This resulted in a realised loss on disposal of the shares for the AIM Foundation. 

Funds previously donated from Cytoplan Limited which were restricted for the giving of nutritional grants were also transferred in the form of cash given, and commitments under multi-year grants for nutritional purposes were taken on by The Nutritional Wellbeing Foundation. 

The group suffered a loss on disposal of Cytoplan Limited (and its subsidiaries), being the net asset position at the date of disposal. All items in relation to the disposal have been treated as extraordinary. 

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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

## **Charity** 


**----- Start of picture text -----**<br>
Unres- Res- Total Total<br>tricted tricted 2024 2023<br>£ £ £ £<br> Transfer of cash to NWF - (429,605) (429,605) -<br> Transfer of commitments to NWF 47,500  344,003  391,503  -<br>- -<br> Costs incurred by AIM on behalf of NWF 13,515  (13,515)<br>- -<br> Loss on disposal of Cytoplan shares (910,000) (910,000)<br>-<br>61,015  (1,009,117) (948,102)<br>**----- End of picture text -----**<br>



**----- Start of picture text -----**<br>
Group<br>Unres- Res- Total Total<br>tricted tricted 2024 2023<br>£ £ £ £<br> Transfer of cash to NWF (429,605) - (429,605) -<br> Transfer of commitments to NWF 391,503  - 391,503  -<br>- -<br> Loss on disposal of subsidiary (5,759,059) (5,759,059)<br>- -<br>(5,797,161) (5,797,161)<br>**----- End of picture text -----**<br>


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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

## **23 Grants payable to institutions** 


**----- Start of picture text -----**<br>
2024 2023<br>£ £<br> Nutrition and Wellbeing<br>Changing the System<br> Nutritank 35,000  75,000<br> Sustain - 33,495<br> School Food Matters - 62,500<br>Strengthening the Sector<br>- -<br> Best Beginnings<br> Institute of Health Visiting 30,000  40,000<br>-<br> Culinary Medicine 40,000<br>Other<br> Real Farming Trust 250  -<br> Sustainable Well-being<br>Changing the System<br> Hot or Cool Institute 115,000  100,000<br> Young People<br>Changing the System<br> Impetus-PEF 30,000  30,000<br> Young Minds Trust 30,000  30,000<br> MAC-UK 30,000  60,000<br> Youth Access 30,000  30,000<br>- -<br> Centre for Mental Health<br>-<br> Children and Young People's Mental Health coalition 20,000<br>Strengthening the Sector<br> Anna Freud Centre 35,000  35,000<br> Place2Be 50,000  50,000<br>Direct Support<br> Island Careers Partnership 9,000  15,000<br> Youthscape 35,000  35,000<br> The Children's Society 30,000  30,000<br>-<br> The Kings's Trust (previously Prince's Trust) 25,000<br>Family Fund<br>-<br> The Country Trust 10,000<br> Early Years<br>Changing the System<br> Parent Infant Foundation 40,000  31,312<br>Strengthening the Sector<br>-<br> Best Beginnings 43,000<br>**----- End of picture text -----**<br>


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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

|Cued Speech<br>Alstrom Syndrome<br>Wild Young Parents Project<br>Beaver Trust<br>Blue Marine Foundation<br>Synchronicity Earth<br>Central Office of Public Interest<br>River Action UK<br>Blue Ventures<br>Environmental Funders Network<br>ACES<br>Snape School Parent and Staff Association<br>Friends of St Nicholas<br>Atlantic Salmon Trust<br>Good Faith Foundation<br>Campaign Against Living Miserably<br>Young Epilepsy<br>Friends of Bealings School<br>The Rivers trust<br>The Felix project<br>**_Grants paid in year_**<br>British Red Cross<br>Association of Video Interactive Guidance<br>Silver Line<br>Little Village HQ<br>Suffolk Community Foundation<br>Institute of Health Visiting<br>Home Start UK<br>**Environment**<br>**_Family Fund_**<br>**_Strengthening the Sector_**<br>**_Direct Support_**<br>**_Family Fund_**<br>**_Family Fund_**<br>**_Changing the System_**<br>**Other Support**<br>**_Strengthening the Sector (cont.)_**|**2024**<br>**2023**<br>**£**<br>**£**<br>-<br>25,000<br>-<br>100,000<br>113,000<br>57,000<br>-<br>30,000<br>-<br>45,000<br>35,000<br>35,000<br>-<br>1,000<br>30,000<br>30,000<br>-<br>-<br>25,000<br>25,000<br>-<br>10,000<br>-<br>30,000<br>-<br>30,000<br>1,000<br>1,000<br>-<br>30,000<br>1,000<br>-<br>-<br>1,000<br>1,000<br>1,000<br>-<br>30,000<br>-<br>1,000<br>2,500<br>-<br>-<br>1,000<br>-<br>1,000<br>-<br>1,000<br>1,000<br>-<br>1,000<br>-<br>1,000<br>-<br>730,750<br>1,260,307|
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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 


**----- Start of picture text -----**<br>
2024 2023<br>£ £<br>Less grants awarded in previous years:<br>Young People<br>Changing the System<br>-<br> Young Minds Trust (25,000)<br>-<br> Impetus-PEF (30,000)<br> Youth Access (30,000) (20,000)<br>-<br> Children and Young People's Mental Health coalition (20,000)<br> MAC-UK (30,000) -<br>Strengthening the Sector<br> Place2Be (50,000) -<br> Anna Freud Centre (35,000) -<br>Direct Support<br> Youthscape (35,000) (35,000)<br>-<br> The Children's Society (30,000)<br>-<br> The Kings's Trust (previously Prince's Trust) (25,000)<br>Nutrition<br>Changing the System<br> Nutritank (35,000) (35,000)<br> School Food Matters - (12,500)<br>Other<br>-<br> Real Farming Trust (250)<br> Sustainable Well-being<br>Changing the System<br> Hot or Cool Institute (115,000) -<br>Early Years<br>Changing the System<br> Parent Infant Foundation (40,000) (31,318)<br>Strengthening the Sector<br>-<br> Best Beginnings (43,000)<br>-<br> Institute of Health Visiting (40,000)<br>-<br> Alstrom Syndrome (113,000)<br> Home Start UK (35,000) (35,000)<br>Environment<br>Changing the System<br> Sychronicity Earth (25,000) (25,000)<br> Beaver Trust (30,000) (30,000)<br>**----- End of picture text -----**<br>


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**The AIM Foundation** Notes to the Financial Statements For the Year Ended 31 August 2024 

|**_New grants awarded but not paid:_**<br>**Young People**<br>MAC-UK<br>Impetus<br>Children & Young People's Mental Health Coalition<br>Place2Be<br>Anna Freud Centre<br>The Children's Society<br>**Nutrition**<br>Nutritank<br>School Food Matters<br>Sustain<br>Culinary Medicine UK<br>Institute of Health Visiting<br>Northumbria Healthcare Foundation Trust<br>Real Farming Trust<br>**Early Years**<br>Parent Infant Foundation<br>Wild Young Parents Project<br>Alstrom Syndrome<br>**Sustainable Wellbeing**<br>Hot or Cool Institute<br>**_Strengthening the Sector_**<br>**_Changing the System_**<br>**_Changing the System_**<br>**_Strengthening the Sector_**<br>**_Changing the System_**<br>**_Direct Support_**<br>**_Changing the System_**<br>**_Strengthening the Sector_**<br>**_Other_**|**2024**<br>**£**<br>-<br>-<br>60,000<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>60,000<br>-<br>-<br>197,500|**2023**<br>**£**<br>30,000<br>60,000<br>-<br>50,000<br>70,000<br>60,000<br>115,000<br>50,000<br>61,503<br>80,000<br>80,000<br>40,000<br>250<br>120,000<br>-<br>283,000<br>195,000|
|---|---|---|
|||2,198,242|
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