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2023-12-31-accounts

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Registered Charity No: 264728

ANNUAL REPORT AND STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THE REED FOUNDATION

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The Reed Foundation

INDEX TO THE ACCOUNTS

Report of The Trustees 3 - 6
Legal and Administrative Information 7
Trustees Responsibility Statement 8
Report of the Auditors 9 - 11
Statement of Financial Activities 12
Statement of Financial Position 13
Statement of Cash Flows 14
Notes to the Statement of Cash Flows 15
Notes to the Financial Statements 16 - 21
Appendix 1 - Charities Supported 22

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The Reed Foundation

REPORT OF THE TRUSTEES for the year ended 31 December 2023

The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2011 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), effective 1 January 2019.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives of the Charity are for such charitable purposes as the settlor may in writing from time to time in his absolute discretion direct and after the settlor's death as the Trustees may in their absolute discretion decide.

The Foundation's principal aim is to fund other established charities. In recent years donations have mostly been to support charities in the fields of arts & culture in the UK, environmental and animal welfare, international development / humanitarian aid and improving the lives of people in the UK.

Since the Big Give was set up in 2007, the Trustees believe that the most effective use of the Foundation's resources is to act as a Champion in the Big Give's match funding campaigns, in particular its main campaign every year, the Christmas Challenge. Champions are able to leverage their contributions to the Big Give more than sixfold on average.

The Big Give has a number of criteria to measure the success of its campaigns, relating to improving the resilience, skills and profile of the participating charities. More details can be found in the Big Give section below.

The Foundation's income increased by 30% in 2023, chiefly from donations from Sir Alec and Lady Reed. As a result, the Foundation was able to increase its grants by 70%. The Foundation has a healthy surplus at the end of 2023 and can continue to increase its grants in 2024.

The Foundation's objectives and aims are unchanged for 2024 and the foreseeable future. The Foundation will have sufficient funds to support the Christmas Challenge and other campaigns in 2024. The Foundation is now in a position to match the funds of other champions who support the Big Give's Match Funding campaigns, helping the Big Give leverage champion contributions by a factor of 6 in the most recent Christmas Challenge.

Public Benefit

The Charity makes grants to registered charities in the UK for the benefit of the public that these charities serve. The Charity has maintained its funding of these organisations, as well as developing innovative ways to inspire more public philanthropy. The trustees are therefore confident that The Reed Foundation meets the public benefit requirements and they confirm that they have taken into account the guidance contained in the Charity Commission's general guidance on public benefit where applicable.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Income and capital are distributed to charitable causes at the Trustees' discretion. The Foundation's income rose by £1,535,233 from that received in 2022, mostly due to donations from the Reed family. Donations rose by £1,644,015 to £3,978,883 (2022 - £2,334,868). The Foundation's contribution to the Christmas Challenge increased by £564,455 to £1,967,837. The charities supported are included in Appendix 1.

The Big Give

The Reed Foundation donated £50,000 in 2007 to set up the Big Give, an online charity comparison site for highlevel donors, and has subsequently acted as a "Champion" in many of its match funding campaigns.

During the year ended 30 June 2023, BigGive.org attracted 1,385,993 visits (2022: 1,140,148) to its website.

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The Reed Foundation

REPORT OF THE TRUSTEES

for the year ended 31 December 2023

In the financial year 2023, Big Give continued to enjoy success with its match funding programmes. The total number of online donations processed through the site in the year was 130,756 (2022: 125,663), totalling £43,411,058 (2022: £37,842,984). These donations resulted in an overall income for charities of £43,411,058 including match funds and Gift Aid on online donations (2022: £37,842,984).

Christmas Challenge 2023

The Big Give Christmas Challenge is the UK’s biggest online match funding campaign which helps UK-registered charities raise funds for their cause. Since its inception in 2008, it has evolved to improve the experience for charities and donors alike.

The Big Give has built upon its successful model of match funding and has continued its annual growth. In 2023 a record number of donations were received.

As in previous years, external sponsors or 'Champions' were invited to take part, offering £6,315,161 and using £5,673,424 in match funds (2022: £5,532,111 offered and £4,691,283 used) including the Reed Foundation's own portfolio of charities of £2,028,793 of which £1,774,337 was used. These Champions each chose a group of charities they wished to support with their funds.

The Challenge raised over £33.6m from the match funds offered by the Champions. Alongside the Reed Foundation, Champions included The Childhood Trust, The Waterloo Foundation, The Julia and Hans Rausing Trust, and the Coles-Medlock Foundation amongst others. By using the Big Give model of matched funding, the Champions were able to leverage their contributions by an average of 6.8 for the benefit of their chosen charities (2022: 6.1).

1,077 charities took part (2022: 1,021). The impact of the campaign is measured on increasing the resilience, skills and profile of the participating charities. The following impact was created:

“The ability to access new funders through the champion funding, attracting donations from new donors, and receiving larger or additional donations from known supporters due to the ability to double gifts were key benefits of participating in the Christmas Challenge. We were able to reach new audiences and networks and grow our relationship with major donors through the campaign.”

Other Matched Funds

The Reed Foundation also donated match funding to The Big Give for the following campaigns. - The Green Match Fund 2023, which raised £4.3 million for 178 environmental charities (2022: £2.7 million for 146 charities).

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The Reed Foundation

REPORT OF THE TRUSTEES for the year ended 31 December 2023

FINANCIAL REVIEW Financial position

Total funds rose by £783,098 during the year. The Foundation received a dividend of £3,625,610 from Reed Global, cash donations of £2m donation from Sir Alec and Lady Reed and a property donation valued at £116,500; however, there were also £1,799,019 fair value losses in the Foundation’s investment property assets.

Principal funding sources

The principal funding sources for the charity are donations received from Sir Alec Reed and his family and investment income from assets held by the trust.

Investment policy and objectives

Following the conclusion of the Foundation's latest investment in Matthew Bourne's ballet company (New Adventures), the Trustees have decided not to invest in future productions: the company no longer requires anything other than token investments from the Foundation. These productions have made good returns for the Foundation since 2011 and the charity hopes that the ballet company will continue to thrive. Having considered the limited options available, the Trustees decided to invest the available funds in bank deposit accounts. The Trustees consider the overall return on these deposits to be disappointing, but are more concerned with the safety of the Foundation's funds than taking any risks in the current climate. The Foundation has taken advantage of its strong cash position at the end of the year to place £3m into a 12-month deposit account at a better interest rate. The investments are under constant review.

Reserves policy

At the end of the reporting period the Charity held £23,361,940 in total funds. All funds were unrestricted. £1,979,481 of expenditure was committed by the end of the year and already provided for, mostly for donations to the Big Give Christmas Challenge held in December 2023. No commitments had been made at the end of the year which were not provided for as liabilities. Therefore the amount of reserves the Charity held at the end of the period after allowing for commitments was £23,361,940.

The Charity held no tangible fixed assets during the year and no programme related investments.

The Charity held £15,808,322 in fixed asset investments and investment property at the end of the period. As these represent a significant source of the Charity’s income, the Charity’s policy is to have sufficient net current assets to enable it to maintain its support of the Christmas Challenge and other emergency appeals in the next year without either having to sell its investments or rely on donations and dividends. At the end of the year net current assets totalled £7,553,617 which is more than sufficient to replicate 2023’s level of donations to the Christmas Challenge in 2024 and to support other campaigns. The reserves are higher than necessary to maintain the current level of spending and therefore the Trustees are looking both to increase contributions to the various Big Give match funding campaigns and to find innovative ways of distributing donations.

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The Reed Foundation

REPORT OF THE TRUSTEES

for the year ended 31 December 2023

FUTURE PLANS

The Charity plans to continue the activities outlined above in the forthcoming year, subject to satisfactory funding arrangements.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Charity was set up on 20 September 1972 and is governed by a Trust Deed and constitutes an unincorporated charity.

Recruitment and appointment of new trustees

The Trustees are members of the Management Committee. James Reed has a very successful business record and all the Trustees have considerable experience with the Foundation and other charities set up by the Reed family; Alexandra Chapman, who became Chair after the year end, is also the Chair of Ethiopiaid. Because of their prior expertise, additional training is not considered necessary. Trustees are appointed to the charity when vacancies arise either through the identification of knowledge gaps or because of resignations. New trustees will be inducted and trained based on Charity Commission guidance. After the year end two new Trustees joined the Board: Michael Norman, who brings accountancy experience and has been a charitable Trustee for over a decade, and Edith Prak, who has extensive fundraising experience.

In August 2024, after the end of the current financial year, Sir Alec Reed retired as a Trustee. The Trustees would like to thank Sir Alec for his incredible vision, leadership and generosity spanning over 50 years and for leaving the Foundation in a healthy position to carry on his great work.

Sir Alec started the Reed Foundation, then Reed Charity, in 1972, and in the 1980s donated £5 million to it. This enabled the Foundation to start a number of charities, including Womankind, Ethiopiaid and the Big Give, which are all still active today. In addition the Foundation bought shares in the Reed group, which has both ensured the charity’s future funding through the dividends it receives and has made the Reed group a philanthropic company, with its employees effectively working one day a week for charity. Over the last 25 years the Foundation has donated over £30m to charity and enabled millions more in donations through the Big Give match funding campaigns it has supported.

Organisational Structure

The Charity has no staff. James Reed's office's staff carry out all administrative work. The Board of Trustees are the ultimate decision-makers.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. A risk register is maintained which is renewed annually by the Trustees.

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The Reed Foundation

REPORT OF THE TRUSTEES
for the year ended 31 December 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity Number 0264728
Principal address c/o Reed Online
Dragon Court
27-29 Macklin Street
London
WC2B 5LX
Trustees: Sir Alec Reed CBE FCMA (resigned 04/08/24)
J A Reed CBE FCIPD MBA MA
R A Reed LLB MA
A M Chapman MA M.Phil
M C Norman (appointed 24/01/24)
E Prak (appointed 24/01/24)
Auditors: Hazelwoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX
Bankers: Coutts & Co
440 Strand
London
WC2R 0QS
Legal Advisers: Freeths LLP
5000 Oxford Business Park South
Oxford
OX4 2BH

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The Reed Foundation

REPORT OF THE TRUSTEES

for the year ended 31 December 2023

TRUSTEES RESPONSIBILITY STATEMENT

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to 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. 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.

18/10/2024

Approved by order of the Board of Trustees on ………………….…………...2024 and signed on its behalf by:

……………………………………………………………… Alexandra Chapman - Trustee

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Report of the Independent Auditors to the Trustees of The Reed Foundation

Opinion

We have audited the financial statements of The Reed Foundation (the ‘charity’) for the year ended 31 December 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the 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 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).

In our opinion, the financial statements:

Basis for opinion

We have been appointed as auditors under section 151 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. 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 charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the Financial Reporting Council’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 Trustees’ 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 were authorised for issue.

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. 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.

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Reed Company Confidential

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Report of the Independent Auditors to the Trustees of

The Reed Foundation

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

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

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement set out on page 8, 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 Charityʼs 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 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 auditors under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards of Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s Ethical Standards for Auditors.

Scope of the audit of the financial statements

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.

Extent to which the audit was capable of detecting irregularities, including fraud

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

We considered the nature of the charity and its control environment and reviewed documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.

We obtained an understanding of the legal and regulatory framework that the charity operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements and those that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charity’s ability to operate or to avoid a material penalty.

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

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Reed Company Confidential

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Report of the Independent Auditors to the Trustees of

The Reed Foundation

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgments made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://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 Charity’s trustees, as a body, in accordance with the Charities Act 2011. Our audit work has been undertaken so that we might state to the Charity’s 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 Charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

……………………………. Felicity Sang FCA (Senior Statutory Auditor)

For and on behalf of Hazlewoods LLP - Statutory Auditor

Date: ............................................. 21/10/2024

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Reed Company Confidential

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The Reed Foundation

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 December 2023

Notes
Income and Endowments From
Donations and legacies
Investment income
2
Tax reclaimed
Total
Expenditure on
Charitable activities
Charitable donations
Management & administration
5
Total
Net losses on investments
8
Net Income
Reconciliation of Funds
Total funds brought forward
Fund balances at end of year
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.		 31.12.23
Unrestricted funds
£
2,119,000
3,988,343
507,632
6,614,975
(3,978,883)
(53,975)
(4,032,858)
(1,799,019)
783,098
22,578,841
23,361,940		 31.12.22
Unrestricted funds
£
1,002,500
3,827,242
250,000
5,079,742
(2,334,868)
(28,667)
(2,363,535)
(1,615,806)
1,100,401
21,478,441
22,578,841

The notes form part of these financial statements

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The Reed Foundation

STATEMENT OF FINANCIAL POSITION At 31 December 2023

Notes
Investments
Investments
7
Investment property
8
Total Fixed Assets
Current Assets
Mixed Purpose Investment
9
Debtors
10
Cash in hand
Creditors
Amount falling due within one year
11
Net Current Assets
Total Assets Less Current Liabilities
Net Assets
Funds
12
Unrestricted funds
Total Funds		 31.12.23
£
10,128,087
5,680,235
15,808,322
15,808,322
-
69,135
9,463,963
9,533,098
(1,979,481)
7,553,617
23,361,940
23,361,940
23,361,940
23,361,940		 31.12.22
£
10,128,087
7,362,754
17,490,841
17,490,841
30,000
314,154
6,386,134
6,730,288
(1,642,286)
5,088,002
22,578,841
22,578,841
22,578,841
22,578,841

18/10/2024

The financial statements were approved by the Board of Trustees on……………………………… …..and were signed on its behalf by:

………………………………………………… Alexandra Chapman, Trustee

………………………………………………… James Reed, Trustee

The notes form part of these financial statements

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The Reed Foundation

STATEMENT OF CASH FLOWS

For the Year Ended 31 December 2023

Notes
Cash flows from operating activities:
Cash generated from operations
1
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of mixed purpose investment
Redemption of mixed purpose investment
Net cash used in operating activities
Net cash provided by investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of the
reporting period
Cash and cash equivalents at the end of the
reporting period		 31.12.23
£
(940,512)
(940,512)
3,988,343
-
30,000
4,018,343
3,077,829
6,386,134
9,463,963		 31.12.22
£
(843,571)
(843,571)
3,827,242
(30,000)
30,000
3,827,242
2,983,670
3,402,464
6,386,134

The notes form part of these financial statements

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The Reed Foundation

Notes to the Statement of Cash Flows For the Year Ended 31 December 2023

1 Reconciliation of Net Income to Net Cash Flow from Operating Activities

Adjustments for:
Losses on investments and property revaluations
Dividends, interest and rents from investments
Decrease/(increase) in debtors
Property donation received
Net cash used in operating activities
2
ANALYSIS OF CHANGES IN NET FUNDS
At 1 January 2023
Net cash
Cash at bank
6,386,134
Net income/(expenditure) for the reporting period (as per the statement of financial
activities)		 31.12.23
£
783,098
1,799,019
(3,988,343)
245,019
(116,500)
(940,512)
Cashflow
3,077,829		 31.12.22
£
1,100,401
1,615,806
(3,827,242)
(270,827)
-
(843,571)
At 31 December 2023
9,463,962

The notes form part of these financial statements

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The Reed Foundation

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2023

1. Accounting policies

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) revised March 2018 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (second edition published October 2019), effective 1 January 2019 and the Charities Act 2011 and UK Generally Accepted Practice.

The financial statements have been prepared under the historical cost convention with the exception of investments which are included at fair value.

The accounts are prepared on a going concern basis as there are no material uncertainties about the charity's ability to continue for the foreseeable future.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

The Following specific polices are applied to particular categories of income:

Donations are recognised when the charity has been notified in writing of both the amount and the settlement date.

Investment income is included when receivable.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants payable are payments made to third parties in the furtherance of the charitable objects of the Charity. In the case of an unconditional grant offer, this is accrued once the grant award has been notified.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Depreciation on fixed assets is calculated on a straight-line basis over the estimated economic life of the asset, being five years.

Investment property

Investment properties are properties, that are held either to earn rental income or for capital appreciation, or both. Investment properties are measured initially at cost including related transaction costs, and subsequently at fair value. Fair value is based on market value, as determined by the trustees at each reporting date. The difference between the fair value of an investment property at the reporting date and its carrying amount prior to remeasurement is included in the income statement as a valuation surplus or deficit. Investment properties are presented on the balance sheet within noncurrent assets.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Donated assets and services

Gifts in kind, donated services and facilities are included in donations at their open market value.

Investments

Unquoted shares are stated at cost.

Unquoted debentures are stated at their redeemable value being the trustees' best estimate of fair value.

Financial Instruments

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

The notes form part of these financial statements

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The Reed Foundation

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2023

2. Investment Income

Investment Income
Dividend and Investment Income
Deposit account interest
Grants Payable
Charitable donations		 31.12.23
£
3,891,486
96,857
3,988,343
31.12.23
£
3,978,883		 31.12.22
£
3,820,322
6,919
3,827,242
31.12.22
£
2,334,868

3. Grants Payable

4. Trustees' Remuneration and Benefits

None of the trustees have been paid any remuneration or received any other benefit from an employment with the Foundation for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

No trustee was reimbursed for expenses in the year ended 31 December 2023. During the year ended 31 December 2022 Sir Alec was repaid £32,348 for the costs for Phoenix Recruitment Ltd incurred in 2021 and 2022.

Employees

The Foundation had no employees in either 2023 or 2022.

5. Allocation of Support and Governance Costs

Support costs
Office, professional and property costs
Bank charges
Goverance costs
Audit
Total Support and governance costs		 Unrestricted funds
31.12.23
£
44,802
692
45,495
8,480
53,975		 Unrestricted funds
31.12.22
£
19,453
815
20,267
8,400
28,667

6.

Consolidation of accounts

These accounts are not consolidated because the Foundation's sole subsidiary, Phoenix Recruitment Ltd ("Phoenix"), is immaterial. The Foundation was the sole shareholder of Phoenix, which was incorporated on 10 May 2021 (company number 13385015). In 2022 the decision was taken to cease trading; the £1 investment in the company was written off in the 2021 accounts. In 2024, after the year end, Phoenix was dissolved.

7.

Fixed Asset Investments

Investments in subsidiaries
Shares - unlisted investments
Other - Debentures		 31.12.23
£
-
8,574,960
1,553,127
10,128,087		 31.12.22
£
-
8,574,960
1,553,127
10,128,087

The notes form part of these financial statements

17

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The Reed Foundation

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2023

Additional information as follows:

Subsidiary

Cost

Cost £ At 1 January 2023 1 Additions - At 31 December 2023 1 Net Book Value - At 1 January 2023 Additions - Written-off - At 31 December 2023 -

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking Principal activity Holding Proportion of voting rights and shares held Proportion of voting rights and shares held
2023 2022
Phoenix Recruitment Ltd Recruitment Ordinary 100% 100%
Shares
Unlisted
investments
£
Cost
At 1 January 2023 8,574,960
Additions -
At 31 December 2023 8,574,960
Net Book Value
At 31 December 2023 8,574,960
At 31 December 2022 8,574,960

Investment assets held within the U.K. at the year end were valued at £10,128,087 (2022: £10,128,087), being £1,553,127 (2022: £1,553,127) variable rate unsecured loan notes in Juxon Limited and 35,919,020 (2022: 35,919,020) Ordinary 'A' Shares valued at £8,574,960 (2022: £8,574,960), in Reed Global Limited.

Debentures were as follows:

Debentures were as follows:
At 1 January 2023 and at 31 December 2023
Investment Property
Market Value
At 1 January 2023
Revaluation
Addition
At 31 December 2023
Net Book Value
At 31 December 2023
At 31 December 2022		 31.12.23
£
1,553,127		 31.12.22
£
1,553,127
£
7,362,754
(1,799,019)
116,500
5,680,235
5,680,235
7,362,754

During the year the Foundation's existing property was revalued by the Trustees, mostly through a third party. This resulted in a fair value loss of £1,799,019.

The notes form part of these financial statements

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The Reed Foundation

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2023

9. Mixed Purpose Investments

At year end Mixed Purpose Investments totalled £nil (2022: £30,000). In 2022 the Foundation invested £30,000 in Matthew Bourne's production of Sleeping Beauty, which was returned in 2023. The Foundation's share of tour profits and tax credits totalled £20,352, all received in 2023. The Foundation also received £783 in 2023 relating to a tax credit from its previous investment in Matthew Bourne's production of the Nutcracker.

10.

Debtors: Amounts falling due within one year

Debtors: Amounts falling due within one year
Prepayments
Accrued income
Tax reclaim
Trade debtors		 31.12.23
£
4,947
15,861
-
48,327
69,135		 31.12.22
£
-
-
250,000
64,154
314,154

The tax reclaim relates to Gift Aid. All the other debtors at the end of 2022 and 2023 relate to rental income and accrued interest.

11.

Creditors: Amounts falling due within one year

Creditors: Amounts falling due within one year
Accruals
Deferred income
Trade payables		 31.12.23
£
8,000
-
1,971,481
1,979,481		 31.12.22
£
7,200
-
1,635,086
1,642,286

The majority of payables at the end of 2023 and 2022 were due to The Big Give Matching Challenge that takes place in December each year.

12.

Movement in Funds

Unrestricted funds
General fund
Total Funds		 At 1.1.23
£
22,578,841
22,578,841		 Net movement in funds
£
783,098
783,098		 At 31.12.23
£
23,361,940
23,361,940

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Total Funds		 Incoming resources
£
4,815,956
4,815,956		 Resources expended
£
(4,032,858)
(4,032,858)		 Movement in funds
£
783,098
783,098

13. Related party transactions

Donations received include £2,500 (2022: £2,500) in waived accountancy fees from Reed Specialist Recruitment Limited, a £1,000,000 (2022: £1,000,000) donation from Sir Alec Reed, a £1,000,000 (2022: £nil) donation from Lady Reed and a freehold donated by Sir Alec Reed valued at £116,500 (2022: £nil).

Cash donations include £3,856,630 (2022: £2,290,892) to The Big Give Trust, which has common Trustees. This included £947,822 for the Green Match Fund, £400,000 for the Turkey and Syria Earthquake appeal, £271,258 for the Women & Girls Match Fund, £269,713 for the Mental Health Match Fund, £1,774,337 paid on to charities participating in the Christmas Challenge and the rest to enable it to operate the online fundraising Christmas Challenge.

The Reed Business School, a company with common Trustees, rented investment properties from the Foundation at a charge of £134,308 (2022: £128,308).

The Foundation received a £3,625,610 dividend (2022: £3,625,610) from Reed Global in the year.

The notes form part of these financial statements

19

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The Reed Foundation

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2023

14.
Operating leases
The total of future minimum lease receipts is as follows:
Not later than one year
Later than one year and not later than five years
Later than five years		 2023
£
105,908
268,998
-
374,906		 2022
£
89,558
347,831
15,407
452,797

The amount of non-cancellable operating lease payments recognised as revenue during the year was £160,408 (2022: £154,408).

The notes form part of these financial statements

20

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The Reed Foundation

Income and Endowments
Donations and legacies
Donations
Tax reclaim
Investment Income
Dividend and Investment Income
Deposit account interest
Total incoming resources
Expenditure
Charitable activities
Miscellaneous Expenses
Accountancy
Audit fees
Professional fees
Grants to institutions
Total resources expended
Loss on investments
Net income		 31.12.23
£
2,119,000
507,632
3,891,486
96,857
3,988,343
6,614,975
20,345
5,500
8,480
19,650
3,978,883
4,032,858
4,032,858
(1,799,019)
783,098
for the year ended 31 December 2023
Detailed Statement of Financial Activities		 31.12.23
£
2,119,000
507,632
3,891,486
96,857
3,988,343
6,614,975
20,345
5,500
8,480
19,650
3,978,883
4,032,858
4,032,858
(1,799,019)
783,098
for the year ended 31 December 2023
Detailed Statement of Financial Activities		 31.12.22
£
1,002,500
250,000
3,820,322
6,919
for the year ended 31 December 2023
3,827,242
5,079,742
14,700
2,500
8,400
3,067
2,334,868
2,363,535
2,363,535
(1,615,806)
1,100,401

This page does not form part of the statutory financial statements

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The Reed Foundation

APPENDIX 1 - CHARITIES SUPPORTED

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CharityName Christmas Challenge
Total		 Paid by Reed
Foundation
Other
1001FONTAINES UK
8 Below Husky Rescue
999 Club
A Partner In Education
ABBY'S HEROES
Aberdeen Cyrenians
Abram Wilson Foundation For Creative Arts
Act4Africa
Action Medical Research
Action Through Enterprise (ATE)
Active Fusion
ADENYDD
Advantage Africa
Adventure Ashram
Afasic
African Children's Fund
African Oyster Trust
Age Connects Cardiff And The Vale
Age UK Northumberland
Age Uk Westminster
AKT
Alder Trust
Alexander Whitley Dance Company
Alex's Wish
ALIVE ACTIVITIES LIMITED
Andrew Simpson Sailing Foundation
Ardgowan Hospice
ASCENDANCE REP
ASPIRE ( ASSOCIATION FOR SPINAL INJURY RESEARCH REHABILITATION AND
REINTEGRATION )
Ataxia UK
Audacious Foundation
Aurora Orchestra
Awards for Young Musicians
Aware Defeat Depression
Baby Bank Network
BADGER TRUST
Bampton Classical Opera
Be Free Young Carers Ltd
Beaver Trust
BEEN THERE
BF Adventure
Bipolar Uk Ltd
Birmingham Hippodrome Theatre Trust Limited
Birmingham Royal Ballet
Bloody Good Period
Botanic Gardens Conservation International
BOTANICAL SOCIETY OF BRITAIN AND IRELAND
Bournemouth Symphony Orchestra
Brent Lodge Bird & Wildlife Trust
Brighton Dome & Festival Ltd
Bristol Old Vic and Theatre Royal Trust Limited
British Humanist Association
Buglife
Butterfly Conservation
Calibre Audio
CAMBRIDGE ACORN PROJECT
Camcycle (Cambridge Cycling Campaign)
Cancer Support UK (CSUK)
CancerCare
Cardboard Citizens
CARE International UK
Carers In Bedfordshire
CBM UK
Centre 404
Cerebra - For Brain Injured Children And Young People
Cerebral Palsy Cymru
Cerebral Palsy Scotland
Chance for Childhood
Changes Bristol Ltd
Changing Faces
Charlton Athletic Community Trust
Cheetah Conservation Fund UK
Cheltenham Festivals
CherryTrees		 £6,275
£11,265
£28,203
£12,509
£27,624
£11,057
£9,755
£5,568
£112,210
£11,610
£15,614
£5,613
£13,834
£3,968
£11,026
£11,478
£4,511
£13,914
£9,582
£12,906
£37,033
£5,488
£17,433
£5,488
£4,647
£4,727
£20,380
£4,907
£15,844
£52,868
£5,074
£20,053
£81,561
£12,684
£10,985
£16,464
£17,825
£4,841
£16,500
£24,856
£4,718
£22,672
£32,878
£62,243
£45,094
£15,404
£9,640
£37,030
£6,044
£9,949
£29,163
£24,494
£41,401
£10,426
£5,505
£28,418
£10,056
£16,123
£81,728
£51,632
£5,553
£74,865
£4,406
£14,783
£18,039
£33,766
£64,143
£5,627
£55,944
£4,273
£16,918
£33,274
£50,099		 £1,000
£2,000
£3,750
£1,930
£3,750
£2,000
£2,000
£1,250
£25,000
£2,000
£2,500
£1,000
£2,500
£710
£2,000
£2,000
£1,000
£2,000
£2,000
£755
£5,000
£1,000
£3,000
£1,250
£1,000
£1,000
£3,000
£1,073
£2,000
£7,500
£455
£3,000
£15,000
£2,250
£2,000
£3,000
£2,500
£1,150
£3,000
£4,337
£1,050
£3,750
£5,000
£10,000
£7,500
£2,087
£2,000
£6,000
£1,000
£2,000
£5,000
£1,254
£6,000
£2,000
£1,250
£2,500
£1,100
£2,000
£12,500
£7,500
£1,250
£12,500
£967
£3,000
£3,000
£5,000
£12,500
£1,000
£10,000
£1,000
£3,000
£5,000
£6,000		 £100,000

Reed Company Confidential

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Children Of The Mekong
Church Action On Poverty Limited
Citizen Advocacy South Birmingham Area (CASBA)
CITY TO SEA CIO
Civil Liberties Trust
Classics for All
Clowns Without Borders Uk
Cobalt
Corbenic Camphill Community Limited
Cord
Cotswolds Dogs & Cats Home
CPRE LONDON
CYCLOX
CYMDEITHAS ERYRI THE SNOWDONIA SOCIETY
DANCERS' CAREER DEVELOPMENT
Dandelion Time
Dash Arts
David Shepherd Wildlife Foundation
Debate Mate Schools Limited
Debt Justice
Diabetes Research & Wellness Foundation
Dogs Trust
Dragonfly Cancer Trust
Ecologia Youth Trust
Edinburgh Women's Aid Ltd
EMBRACEABILITY
EMBRACING AGE
EMERGENCY UK
Empire Fighting Chance
English Folk Dance and Song Society
English Touring Opera Limited
Eric Liddell Community
Escape Community Art in Action
Family Fund Trust
FareShare South West
Farms for City Children
Fellowship Afloat Charitable Trust
FETCHER DOG
FIERI CONSORT
Fiori Musicali
FIRST GIVE
FLEET ARTS
Forever Hounds Trust
Free UK Genealogy
Freedom for Animals
FRIENDS OF BREATHE ARTS HEALTH RESEARCH
Friends Of Conakry Refugee School
FRIENDS OF INTI WARA YASSI
Full Fact
FUTURE FOR ALL
Gabrieli
Garden House Hospice Care
Garden Organic
Global Ecovillage Network
Grace Kelly Childhood Cancer Trust
GREAT NORTH AIR AMBULANCE SVC
GROWING HOPE
GURNELL GROVE COMMUNITY TRUST
Hammersmith and Fulham Association for Mental Health
Harrison's Fund Ltd
Hastings Contemporary
Headway East London
Hector's House
Help Musicians
help2read
Helping Rhinos
Helping The Burmese Delta
Herts & Middlesex Wildlife Trust
Hinksey Sculling School Ltd.
Homelink Day Respite
Hope and Homes for Children
HOPE FOOD NORTH BIRMINGHAM
Hope for Children
Hope For Tomorrow
Hope Into Action UK
Hospice Africa Limited
Independent Arts		 £16,407
£11,334
£4,800
£17,860
£40,599
£108,999
£4,467
£42,688
£19,433
£69,733
£13,374
£19,360
£20,985
£6,550
£42,476
£47,414
£5,678
£35,109
£25,311
£65,659
£18,994
£72,729
£20,459
£5,605
£7,795
£4,895
£16,802
£16,898
£9,810
£17,196
£17,151
£10,889
£4,374
£13,958
£86,454
£30,181
£6,249
£14,083
£16,705
£24,516
£30,528
£5,175
£15,070
£7,543
£6,233
£16,774
£13,644
£12,623
£61,674
£15,031
£55,446
£79,165
£44,956
£9,849
£18,708
£25,400
£29,246
£14,406
£3,101
£9,021
£22,456
£5,561
£7,740
£18,453
£36,898
£17,188
£11,656
£15,555
£17,606
£14,895
£87,238
£5,741
£10,428
£7,595
£78,469
£23,884
£9,924		 £2,500
£2,000
£1,000
£2,500
£7,500
£12,500
£1,000
£8,000
£2,500
£12,000
£2,500
£1,349
£2,500
£1,250
£7,500
£7,500
£1,250
£5,000
£3,750
£4,850
£3,000
£12,500
£3,750
£1,000
£1,000
£1,125
£2,500
£2,500
£2,000
£1,560
£2,500
£2,000
£1,000
£2,500
£15,000
£5,000
£1,000
£2,500
£2,500
£2,500
£5,000
£1,100
£2,500
£1,000
£1,000
£2,500
£2,000
£1,749
£12,000
£2,500
£7,500
£10,000
£7,500
£2,000
£3,000
£3,750
£4,500
£1,705
£364
£281
£669
£1,000
£1,500
£2,500
£7,000
£3,000
£2,000
£2,500
£2,500
£2,500
£15,000
£1,250
£2,000
£1,250
£13,000
£3,750
£2,000

Reed Company Confidential

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International Otter Survival Fund
Jairah Funds
JAMAL EDWARDS DELVE
James' Place Charity
Jamie's Farm
John Schofield Trust
Joshua Orphan and Community Care
Kangaroos
Keech Hospice Care
Keynsham And District Mencap Society
Khulisa
Kids Inspire
King's Arms Project (Bedford)
Kintsugi Hope
Kirklees Theatre Trust
Kith & Kids
LEEDS CHILDREN'S CHARITY AT LINEHAM FARM
Level Centre Limited
Lewis-Manning Hospice
Lichfield Cathedral
Link Age Southwark
LinkAble Woking Ltd
LITERACY VOLUNTEERS
LIVE UNLIMITED
LIVING STREETS (THE PEDESTRIANS ASSOCIATION)
Longfield
Maggie's Centres
MANCHESTER BAROQUE
Martin House Children's Hospice
MAYFIELD PRE-SCHOOL
ME Research UK
Medic to Medic
Medical Aid For Palestinians
Mentoring Plus Bath And North East Somerset
MERSEYSIDE DOMESTIC VIOLENCE SERVICE LTD
Michael House
MIDDLESBROUGH DIOCESAN TRUST
Milton's Cottage Trust (CIO)
Minstead Trust
Mission Without Borders
Montage Theatre Arts
Mosaik Education
Multiple Sclerosis Trust
MUSIC IN THE ROUND
Mustard Seed Project (Kenya) (MSP)
My Family Organisation
My Sister's Place
National Trust
Nautical Archaeology Society
New Life Nyambene
NF2 Biosolutions UK & Europe
No Limits (South)
NONCLASSICAL
North Worcestershire Basement Projects Ltd
Northamptonshire Carers
Northern Ballet
Northumberland Wildlife Trust
Nottingham Arimathea Trust
NOTTINGHAM MUSIC SERVICE
Oasis Community Housing
OPENING YOUR HEART TO BHUTAN
OPERA RARA
OperaUpClose
Oracle Cancer Trust
Orangutan Foundation
Orion Symphony Orchestra
Ovacome, ovarian cancer
Pamoja Leo
Pans/Pandas UK
PAPYRUS Prevention of Young Suicide
PARALLEL HISTORIES
Parenting Special Children
Park Theatre
PATHWAYS OF CHESTERFIELD
People's Trust for Endangered Species
Pestalozzi International Foundation
PLAN FOR PEACE		 £5,953
£7,611
£8,153
£18,466
£107,116
£21,999
£16,679
£16,863
£34,681
£7,245
£16,541
£4,800
£9,159
£16,620
£3,547
£21,049
£6,623
£4,945
£32,666
£10,031
£18,326
£6,979
£3,071
£33,438
£12,915
£9,749
£111,515
£5,179
£11,907
£2,905
£29,375
£16,811
£76,886
£16,614
£4,698
£10,103
£4,652
£16,500
£48,644
£10,060
£5,439
£11,972
£24,744
£16,806
£21,086
£27,448
£5,929
£9,843
£11,165
£4,691
£5,581
£16,733
£14,701
£10,239
£19,552
£22,792
£16,929
£4,593
£77,015
£11,350
£19,901
£14,049
£48,620
£26,102
£11,188
£39,893
£13,142
£16,055
£99,971
£4,491
£37,157
£24,909
£6,505
£13,702
£8,099
£82,573		 £1,250
£1,500
£1,500
£2,500
£25,000
£3,750
£2,500
£2,500
£5,000
£1,319
£3,000
£1,000
£1,063
£2,500
£593
£3,000
£1,250
£1,000
£5,000
£2,000
£3,000
£1,250
£385
£5,000
£901
£2,000
£25,000
£815
£2,077
£300
£5,000
£2,500
£5,000
£2,500
£1,000
£2,000
£1,000
£2,500
£7,160
£2,000
£1,000
£1,972
£4,200
£2,500
£3,000
£5,000
£1,050
£1,933
£2,000
£1,000
£1,100
£2,500
£2,458
£2,000
£2,000
£3,750
£2,500
£1,000
£15,000
£2,000
£2,500
£2,500
£7,500
£3,750
£2,000
£7,500
£2,500
£2,500
£12,500
£1,000
£7,500
£3,750
£1,015
£2,250
£1,500
£12,500		 £5,000

Reed Company Confidential

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Plantlife
Popham Kidney Support
Porridge And Pens Ghana
Power For The People
Prader-Willi Syndrome Association UK
Pratham UK
Pregnancy Centres Network
Prison Advice and Care Trust (Pact)
Prison Fellowship England & Wales
Project Luangwa
Quaker Social Action
Queenscourt Hospice
Rainforest Saver SCIO
Reach Learning Disability
Renewable World
RENNIE GROVE PEACE HOSPICE CARE
Restore the Music UK
Retina UK
Rett UK
Reverse Rett
RICHARD SHEPHARD MUSIC FOUNDATION
Ride High
Right To Play
RIVER ACTION UK
Rotherfield St Martin
Royal Academy of Dramatic Art
Royal College of Music
ROYAL ENTOMOLOGICAL SOCIETY
ROYAL PHILHARMONIC ORCHESTRA LIMITED
Royal Zoological Society Of Scotland
RSPCA BATH AND DISTRICT BRANCH
RSPCA Central London Branch
Ruddi's Retreat
Safe Child Africa
SAFENET DOMESTIC ABUSE AND SUPPORT SERVICES LTD
SALISBURY HOSPICE CHARITY
Sarcoma UK
Schoolreaders
Scottish Wildlife Trust
Sebastian's Action Trust
SEEN LTD
Sheffield Young Carers Project
ShelterBox
Shrewsbury House
SIBLING SUPPORT
Simpsons Special Care Babies
Soil Association
Solidarity Sports
Somerset and Avon Rape and Sexual Abuse Support (SARSAS)
Sophia Akash Foundation CIO
South Westminster Community Festival
Southbank Sinfonia
SOUTHERN THAILAND ELEPHANT FOUNDATION
St Andrew's Hospice
St Kentigern Hospice
St Peter & St James Hospice
ST WERBURGHS CITY FARM
Standing Voice
Stay Up Late
STICK 'N' STEP
Strength & Learning Through Horses
Sudc UK
Suffolk Mind
Sumatran Orangutan Society
Surrey Wildlife Trust
Sydenham Garden
Tall Ships Youth Trust
Tanzania Development Trust
Team Kenya
Teesside Hospice Care Foundation
Temwa UK
THE ALDEBURGH JUBILEE HALL CIO
THE ATLAS FOUNDATION
The Basingstoke and Alton Cardiac Rehabilitation Charity Limited
THE BEACON FELLOWSHIP CHARITABLE TRUST
The Big Give Trust - Christmas Challenge Awards
The BigGive Trust - Green Match Fund		 £88,679
£6,671
£12,612
£22,005
£8,615
£37,849
£8,940
£29,631
£27,448
£17,674
£89,220
£72,026
£13,849
£43,135
£31,644
£110,998
£52,864
£65,107
£30,570
£80,541
£11,208
£8,068
£45,204
£43,418
£4,443
£72,166
£134,764
£6,948
£38,645
£34,512
£19,149
£5,506
£7,956
£30,510
£5,866
£32,214
£37,580
£47,856
£34,917
£24,500
£10,065
£6,995
£67,164
£96,188
£9,793
£3,482
£44,534
£40,535
£26,918
£9,558
£4,199
£18,349
£15,965
£8,856
£12,884
£18,438
£4,869
£47,824
£7,934
£21,568
£4,616
£22,707
£14,719
£98,208
£33,947
£12,031
£35,284
£17,955
£5,105
£24,719
£32,230
£13,423
£16,728
£22,921
£82,625		 £15,000
£1,200
£2,000
£3,750
£1,500
£6,000
£1,500
£3,459
£5,000
£2,500
£9,019
£12,500
£1,000
£7,500
£1,525
£12,500
£7,500
£7,500
£5,000
£10,000
£2,000
£1,500
£7,500
£7,500
£1,000
£15,416
£25,000
£439
£7,500
£5,000
£3,000
£1,000
£1,500
£5,000
£1,050
£6,000
£5,000
£7,500
£5,000
£4,000
£2,000
£1,250
£5,193
£15,000
£2,000
£304
£7,500
£6,000
£3,296
£2,000
£1,000
£2,750
£2,000
£1,750
£2,000
£2,500
£1,100
£7,500
£1,250
£3,000
£1,000
£3,500
£3,000
£12,500
£5,000
£2,200
£3,750
£2,500
£1,150
£3,750
£5,000
£2,500
£2,500
£4,000
£20,000		 £15,000
£947,822

Reed Company Confidential

Docusign�Envelope�ID:�134E7529-5543-4C9C-B73E-9CB737490B8A

The Big Give Trust - Kind2Mind Mental Health campaign
The Big Give Trust - Other
The Big Give Trust - Turkey/Syria Earthquake Appeal
The Big Give Trust - Women & Girls campaign
The Bodie Hodges Foundation
The Booth Centre
The Brain Tumour Charity
THE BRANCH TRUST, CHIPPING NORTON (CIO)
THE BRIDGNORTH DRY BAR TRUST
THE BRITISH DEER SOCIETY
THE BRITISH PILGRIMAGE TRUST
THE CAMDEN PSYCHOTHERAPY UNIT
The Cancer Support Centre-Sutton Coldfield
The Caxton Youth Organisation
The Centre for Alternative Technology
The Cleft Lip & Palate Association
The Connection at St Martin's - helping homeless people in London
THE DAN MASKELL TENNIS TRUST
The Daniel Spargo-Mabbs Foundation
The Door Youth Project
The Duke of Edinburgh's International Award Foundation
The English Concert
The Equality Trust
The Fifth Trust
The Foundation for Conductive Education
THE FRIENDS OF THE CITY OF SHEFFIELD YOUTH ORCHESTRA LIMITED
The Global Returns Project Limited
The Haven Wolverhampton
The ITSA Digital Trust
The JMK Trust
The Kanyike Project
The Kerusso Trust
The Keys Project
The Larder West Lothian
The Life Intervention, Friendship and Education Foundation
The Lincolnshire And Nottinghamshire Air Ambulance Charitable Trust
THE LINKAGE COMMUNITY TRUST LIMITED
The London Early Opera Company Ltd
The London International Festival of Theatre Limited
THE MICHAEL PROJECT UK
The Michael Sobell Hospice Charity
The Migraine Trust
The Miracle Foundation SCIO
The Mozartists
The Mulberry Centre
THE NATIONAL COMMUNITIES RESOURCE CENTRE LIMITED
THE NATIONAL HONEY SHOW LIMITED
The National Youth Advocacy Service
THE NORTH NORTHUMBERLAND HOSPICE
The Old Vic Theatre Trust 2000
The Open University
The Orchestra of the Swan
THE OSWESTRY AND BORDERS FOODBANK
THE OXFORDSHIRE BRANCH OF THE CAMPAIGN TO PROTECT RURAL ENGLAND
The Passage
THE PDA SOCIETY
THE PEOPLE'S ORCHESTRA
The Prince's Trust
The Rivers Trust
The Rose Road Association
The Royal Central School of Speech and Drama
THE SCAR FREE FOUNDATION
The Sick Children's Trust
The Sixteen
The St Jerome's Centre
THE TELLING
THE TERRENCE HIGGINS TRUST
The Three Choirs Festival Association Ltd
THE TIM HENMAN FOUNDATION
THE UFTON COURT EDUCATIONAL TRUST
The VOCES8 Foundation
THE WATERSHED ARTS TRUST LIMITED
The Wiener Holocaust Library
THE WOLVERHAMPTON GRAND THEATRE (1982) LIMITED
The Young Barnet Foundation
THEATRE ALIBI		 £6,563
£51,143
£163,997
£26,004
£12,688
£12,528
£13,527
£90,177
£11,478
£11,273
£44,293
£32,614
£103,738
£4,949
£10,037
£7,744
£100,113
£35,605
£29,157
£4,568
£5,730
£5,169
£83,125
£17,898
£12,841
£4,436
£9,518
£5,973
£10,020
£3,503
£6,161
£76,588
£9,886
£5,869
£5,620
£10,606
£22,728
£14,983
£6,406
£55,088
£9,978
£5,554
£11,898
£6,413
£46,449
£17,644
£58,341
£25,258
£6,370
£10,684
£650,614
£11,922
£7,875
£109,306
£86,555
£10,874
£76,631
£46,448
£40,000
£27,526
£5,470
£10,366
£81,739
£15,771
£110,102
£20,793
£25,774
£6,862
£48,758
£4,262
£4,822
£10,945		 £1,250
£7,500
£24,293
£3,750
£2,500
£2,000
£2,273
£12,000
£1,500
£1,580
£7,500
£5,000
£20,000
£1,000
£2,200
£1,500
£25,000
£5,000
£3,750
£1,000
£1,000
£880
£12,500
£3,000
£2,000
£1,000
£2,000
£1,250
£2,000
£325
£1,000
£10,000
£2,000
£1,250
£1,250
£2,000
£3,750
£2,500
£1,250
£10,000
£2,000
£1,000
£1,515
£1,100
£6,000
£3,000
£7,000
£3,750
£1,000
£2,000
£25,000
£2,000
£1,500
£25,000
£12,500
£1,740
£15,000
£7,500
£7,500
£3,750
£1,000
£2,000
£12,500
£2,500
£12,500
£2,500
£3,750
£1,000
£7,500
£613
£1,000
£2,000		 £269,713
£178,500
£400,000
£271,258

Reed Company Confidential

Docusign�Envelope�ID:�134E7529-5543-4C9C-B73E-9CB737490B8A

Their Future Today
THEIRWORLD
Tommy's
Tom's Trust
Tools for Inner Peace
Transparency International (UK)
Travaux Sauvages Limited
Travelling Light Theatre Company
TREE AID
Tree Sisters
Trevi Women Ltd
Tuberous Sclerosis Association
TUSK TRUST LIMITED
Two Moors Festival Limited
Tyne & Wear Archives & Museums Development Trust
Tyneside And Northumberland Mind
UCARE (OXFORD)
UK Wild Otter Trust
UK Youth
UNITED KINGDOM ANTARCTIC HERITAGE TRUST
UWC Atlantic
VAULT CREATIVE ARTS LTD
Venture Scotland
Wakefield Hospice
Wakefield Theatre Trust
WaterHarvest
WATFORD NEW HOPE TRUST
Wellspring Therapy & Training
WEST KENT MIND
White Lodge Centre
Wild Futures
Wildlife Vets International
Willow Wood Hospice
Windle International
Wintercomfort for the homeless
WISE CHILDREN LIMITED
WMUK
WOMEN'S EDUCATION PARTNERSHIP
Woodcraft Folk
Worcestershire Wildlife Trust
World Child Cancer UK
World Medical Fund for Children
Worldwide Radiology
Worldwide Veterinary Service
WORTHING MENCAP SOCIETY
YMCA DownsLink Group
YMCA LEICESTERSHIRE
Yorkshire Air Ambulance Ltd
YORKSHIRE DALES RIVERS TRUST
Young Epilepsy (formerly NCYPE)
Zoe's Place Trust		 £11,363
£39,581
£113,203
£13,386
£5,430
£13,219
£6,449
£7,213
£62,319
£31,501
£23,916
£11,848
£109,817
£11,091
£10,313
£16,449
£5,425
£5,148
£22,440
£32,796
£91,319
£23,186
£27,229
£17,560
£3,366
£10,538
£16,070
£8,218
£10,918
£43,213
£11,089
£38,932
£40,756
£64,307
£55,574
£29,900
£63,848
£15,076
£12,042
£7,412
£34,815
£12,580
£11,409
£18,494
£6,250
£9,153
£29,084
£21,240
£4,956
£29,695
£49,127		 £2,000
£5,000
£25,000
£2,500
£1,000
£2,250
£1,000
£1,232
£3,189
£5,000
£1,788
£2,000
£20,000
£2,000
£2,000
£3,000
£1,250
£1,000
£5,000
£3,750
£11,000
£3,500
£2,000
£3,000
£305
£1,050
£2,500
£1,500
£2,000
£5,263
£2,000
£5,090
£7,500
£10,000
£10,000
£6,000
£6,000
£861
£574
£1,159
£5,000
£2,500
£2,000
£3,495
£1,250
£2,000
£3,000
£2,500
£1,000
£2,500
£7,500
Totals
Donations to individuals
Total paid by Reed Foundation
Total as per Statement of Financial Activities
£11,704,793 £1,774,337 £2,187,293
£17,253
£3,978,883
£3,978,883

Reed Company Confidential