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2024-12-31-accounts

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

Registered Charity No: 264728

ANNUAL REPORT AND STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE REED FOUNDATION

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

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

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

The Reed Foundation

REPORT OF THE TRUSTEES for the year ended 31 December 2024

The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. 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 reduced by 65% in 2024, as dividends fell and donations from 2023 were not repeated. However, the Foundation was able to use the cash reserves it had built up to increase its grants by 75% to just under £7m, a record for the charity. The Foundation still had a healthy surplus at the end of 2024 and with the sale of several properties made after the year end, it can continue to make significant grants in 2025.

The Foundation's objectives and aims are unchanged for 2025 and the foreseeable future. The Foundation will have sufficient funds to support the Christmas Challenge and other campaigns in 2025. 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 5 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 fell by £4,323,724 from that received in 2023, mostly due to lower dividends and no donations from the Reed family. Donations rose by £2,979,216 to £6,958,099 (2023 - £3,978,883). The Foundation's contribution to the Christmas Challenge increased by £1,417,086 to £3,384,923. The charities supported are included in Appendix 1.

In addition to supporting the Christmas Challenge and other match funding campaigns run by Big Give, the Foundation announced two new initiatives to celebrate the 90th birthday of its founder, Sir Alec Reed. More than 20 charities were invited to apply for the Sir Alec Reed Prize, which aims to support young people who are experiencing poor mental health to secure or keep employment. The £1m prize was awarded in December 2024 to UK Youth, with half paid initially and half to be paid at the end of 2025. The other initiative was a charity raffle whereby £10,000 would be donated every week to a charity chosen by a randomly-selected Reed group employee. £320,000 of the £520,000 had been awarded by the end of 2024.

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The Reed Foundation

REPORT OF THE TRUSTEES for the year ended 31 December 2024

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.

Big Give raised a total of £52.1 million through its match funded campaigns for the year ended 30 June 2024 (2023: £43.4 million), attracting 1,684,644 visits to BigGive.org (2023: 1,385,993). Online campaigns yielded 160,515 donations totalling £25,052,467 (2023: 130,756 and £20,310,978 respectively).

Christmas Challenge 2024

The Big Give Christmas Challenge is the UK’s biggest online match funding campaign which helps UKregistered charities raise funds for their cause. Since its inception in 2008, Big Give has now supported thousands of charities to raise over £365m through match funding campaigns, giving them a voice and doubling their difference.

Thanks to support from The Reed Foundation, 2024 was a record-breaking year for Big Give’s Christmas Challenge, raising £44.1 million for 1,267 UK registered charities over the 7-day campaign (2023: £33.1 million for 1,077 charities). Yet again, this exceeded the previous record set by the Christmas Challenge 2023 by over £11.7m, a 36% increase.

As in previous years, external sponsors or 'Champions' were invited to take part, offering £9,382,550 and using £8,505,995 in match funds (2023: £6,315,161 offered and £5,673,424 used).

Alongside the Reed Foundation, Champions included The Childhood Trust, The Waterloo Foundation, The Julia and Hans Rausing Trust, and as well as new Champions, ShareGift and the Hampshire Cricket Foundation. By using the Big Give model of matched funding, the Champions were able to leverage their contributions by an average of 5.1 for the benefit of their chosen charities (2023: 6.8).

The Reed Foundation supported a portfolio of 366 charities. Of £2,787,176 in offered match funds, £2,553,155 was used.

1,267 charities took part. The impact of the campaign is measured on increasing the resilience, skills and profile of the participating charities. The following impact was created:

“The Christmas Challenge has once again inspired a significant increase in individual giving compared to years pre-Big Give match-funding. The opportunity to double donations made at no cost to the giver meant that a lot of people we spoke to had chosen to give a larger gift than originally planned and some community groups who wouldn't normally give at Christmas reached out to make a gift.”

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Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

The Reed Foundation

REPORT OF THE TRUSTEES for the year ended 31 December 2024

Other Matched Funds

The Reed Foundation also donated match funding to The Big Give for the following campaigns. - The inaugural Arts for Impact campaign, in partnership with Figurative Philanthropy for Arts & Culture, supporting arts and culture charities working to achieve societal impact across the UK, raised £2.8 million for 238 charities (2023: nil).

FINANCIAL REVIEW

Financial position

Total funds fell by £3,161,712 during the year. The Foundation received a dividend of £1,812,805 from Reed Global and a £60,000 lease premium from a freehold property; there were also £1,491,277 fair value gains 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

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 investments are under constant review.

Reserves policy

At the end of the reporting period the Charity held £20,200,228 in total funds. All funds were unrestricted. £2,900,629 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 2024. 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 £20,200,228.

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

The Charity held £17,299,599 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 £2,900,629. After the year end Reed Global acquired some of the Foundation's investment property for £5.43m to secure the future of the Reed Business School, which rented these properties and which Reed Global also purchased. This cash will ensure that the Foundation can replicate 2024’s level of donations to the Christmas Challenge in 2025 and to support other campaigns.

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Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

The Reed Foundation

REPORT OF THE TRUSTEES for the year ended 31 December 2024

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 in 2024, 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. During the year 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. As announced in 2023's accounts, Sir Alec Reed retired as a Trustee in August 2024.

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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Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

The Reed Foundation

REPORT OF THE TRUSTEES for the year ended 31 December 2024

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 CCMI FCIPD MBA MA R A Reed LLB MA A M Chapman MA M.Phil M C Norman BSc (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 2RW

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Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

The Reed Foundation

REPORT OF THE TRUSTEES

for the year ended 31 December 2024

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.

8/10/2025 | 12:59 BST Approved by order of the Board of Trustees on ………………….…………...2025 and signed on its behalf by:

………………………………………………………………

Alexandra Chapman - Trustee

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Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

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 2024 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

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

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

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

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

9/10/2025 | 12:20 BST

Date: .............................................

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Reed Company Confidential

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

The Reed Foundation

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 December 2024

Notes
Income and Endowments From
Donations and legacies
Investment income
2
Tax reclaimed
Total
Expenditure on
Charitable activities
Charitable donations
3
Management & administration
5
Total
Net gains / (losses) on investments
8
Net (Deficit) / Surplus
Reconciliation of Funds
Total funds brought forward
Fund balances at end of year
CONTINUING OPERATIONS		 31.12.24
Unrestricted funds
£
2,500
2,288,751
-
2,291,251
(6,958,099)
(46,142)
(7,004,241)
1,551,277
(3,161,713)
23,361,940
20,200,227		 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

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements 12

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

The Reed Foundation

STATEMENT OF FINANCIAL POSITION At 31 December 2024

|31.12.24
Notes
£
Investments
Investments
7
10,128,087
Investment property
8
7,171,512
Total Fixed Assets
17,299,599
Current Assets
Debtors
10
71,383
Cash in hand
6,269,228
6,340,611
Creditors
Amount falling due within one year
11
(3,439,982)
Net Current Assets
2,900,629
Total Assets Less Current Liabilities
20,200,228
Net Assets
20,200,228
Funds
12
20,200,227
Unrestricted funds
20,200,227
Total Funds
8/10/2025 | 12:59 BST|31.12.23
£
10,128,087
5,680,235| |---|---| ||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| |||

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

13

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

The Reed Foundation

STATEMENT OF CASH FLOWS

For the Year Ended 31 December 2024

Notes
Cash flows from operating activities:
Cash used in operations
1
Cash flows from investing activities:
Dividends, interest and rents from investments
Lease premium received
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		 31.12.24
£
(5,543,487)
(5,543,487)
2,288,751
60,000
-
2,348,751
(3,194,736)
9,463,963
6,269,227		 31.12.23
£
(940,512)
(940,512)
3,988,343
-
30,000
4,018,343
3,077,829
6,386,134
9,463,963

The notes form part of these financial statements 14

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

The Reed Foundation

Notes to the Statement of Cash Flows For the Year Ended 31 December 2024

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

2

Adjustments for:
(Gains)/losses on investments and property revaluations
Dividends, interest and rents from investments
Decrease/(increase) in debtors
Increase in creditors
Property donation received
Net cash used in operating activities
ANALYSIS OF CHANGES IN NET FUNDS
At 1 January 2024
Net cash
Cash at bank
9,463,963
Net income/(expenditure) for the reporting period (as per the statement of
financial activities)		 31.12.24
£
(3,161,713)
(1,551,277)
(2,288,751)
(2,248)
1,460,502
-
(5,543,487)
Cashflow
(3,194,736)		 31.12.23
£
783,098
1,799,019
(3,988,343)
245,019
337,195
(116,500)
(940,512)
At 31 December 2024
6,269,227

The notes form part of these financial statements 15

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

The Reed Foundation

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2024

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.

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 re-measurement is included in the income statement as a valuation surplus or deficit. Investment properties are presented on the balance sheet within non-current 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.

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Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

The Reed Foundation

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024

2. Investment Income

Dividend and Investment Income
Deposit account interest
Grants Payable
Charitable donations		 31.12.24
£
2,075,893
212,858
2,288,751
31.12.24
£
6,958,099		 31.12.23
£
3,891,486
96,857
3,988,343
31.12.23
£
3,978,883

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 2024 nor for the year ended 31 December 2023.

Trustees' expenses

No trustee was reimbursed for expenses in the years ended 31 December 2024 or 31 December 2023.

Employees

The Foundation had no employees in either 2024 or 2023.

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
31.12.24
£
37,364
591
37,955
8,186
46,140		 Unrestricted funds
31.12.23
£
44,802
692
45,495
8,480
53,975

6. Consolidation of accounts

These accounts are not consolidated. At the beginning of 2024 the Foundation had a subsidiary, Phoenix Recruitment Ltd ("Phoenix"). The Foundation was the sole shareholder of Phoenix, which was incorporated on 10 May 2021 (company number 13385015) but ceased to trade in 2022. The £1 investment in the company was written off in the 2021 accounts. In 2024 Phoenix was dissolved.

7. Fixed Asset Investments

Shares - unlisted investments
Other - Debentures		 31.12.24
£
8,574,960
1,553,127
10,128,087		 31.12.23
£
8,574,960
1,553,127
10,128,087

17

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

The Reed Foundation

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2024

7. Fixed Asset Investments (continued)

Additional information as follows:

Subsidiary

Cost £ At 1 January 2024 1 Dissolution (1) At 31 December 2024 - Net Book Value - At 1 January 2024 Dissolution - At 31 December 2024 -

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
2024 2023
Phoenix Recruitment Ltd Recruitment Ordinary 0% 100%
Shares
Unlisted
investments
£
Cost
At 1 January 2024 8,574,960
Additions -
At 31 December 2024 8,574,960
Net Book Value
At 31 December 2024 8,574,960
At 31 December 2023 8,574,960

Investment assets held within the U.K. at the year end were valued at £10,128,087 (2023: £10,128,087), being £1,553,127 (2023: £1,553,127) variable rate unsecured loan notes in Juxon Limited and 35,919,020 (2023: 35,919,020) Ordinary 'A' Shares valued at £8,574,960 (2023: £8,574,960), in Reed Global Limited.

Debentures were as follows:

At 1 January 2024 and at 31 December 2024
Investment Property
Market Value
At 1 January 2024
Revaluation
Addition
At 31 December 2024
Net Book Value
At 31 December 2024
At 31 December 2023		 31.12.24
£
1,553,127		 31.12.23
£
1,553,127
£
5,680,235
1,491,277
-
7,171,512
7,171,512
5,680,235

8. Investment Property

During the year the Foundation's existing property was revalued by the Trustees, mostly through a third party. This resulted in a fair value gain of £1,491,277. The Foundation also received a lease premium of £60,000 for a freehold property.

In April 2025, after the year end, the Foundation sold properties with a net book value of £5,430,000 to a subsidiary of Reed Global, a connected party.

18

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

The Reed Foundation

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2024

9. Mixed Purpose Investments

At year end Mixed Purpose Investments totalled £nil (2023: nil). The Foundation received £3,927 in 2024 relating to a tax credit from its previous investment in Matthew Bourne's production of Sleeping Beauty (investment returned in 2023).

10. Debtors: Amounts falling due within one year

Debtors: Amounts falling due within one year
Prepayments
Accrued income
Trade debtors		 31.12.24
£
3
34,077
37,303
71,383		 31.12.23
£
4,947
15,861
48,327
69,135

All debtors at the end of 2023 and 2024 relate to rental income.

11.

Creditors: Amounts falling due within one year

Accruals
Deferred income
Trade payables		 31.12.24
£
8,100
-
3,431,882
3,439,982		 31.12.23
£
8,000
-
1,971,481
1,979,481

The majority of payables at the end of 2024 and 2023 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
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Total Funds		 At 1.1.24
£
23,361,940
23,361,940
Incoming resources
£
3,842,528
3,842,528		 Net movement in funds
£
(3,161,713)
(3,161,713)
Resources expended
£
(7,004,241)
(7,004,241)		 At 31.12.24
£
20,200,227
20,200,227
Movement in funds
£
(3,161,713)
(3,161,713)

13. Related party transactions

Donations received include £2,500 (2023: £2,500) in waived accountancy fees from Reed Specialist Recruitment Limited. 2023's donations received included a £1,000,000 donation from Sir Alec Reed, a £1,000,000 donation from Lady Reed and a freehold donated by Sir Alec Reed valued at £116,500.

Cash donations include £5,133,155 (2023: £3,856,630) to The Big Give Trust, which has common Trustees. This included £699,892 for the Green Match Fund, £25,000 for the DEC Middle East appeal, £525,000 for the Arts for Impact Match Fund, £498,340 for the Mental Health Match Fund, £3,317,423 paid on to charities participating in the Christmas Challenge and the rest to enable it to operate the online fundraising Christmas Challenge. The Foundation also donated £1m to the Alec Reed Academy, whose original sponsor was Sir Alec Reed, for the development of a forest school.

The Reed Business School, a company with common Trustees, rented investment properties from the Foundation at a charge of £136,308 (2023: £134,308).

The Foundation received a £1,812,805 dividend (2023: £3,625,610) from Reed Global in the year.

19

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

The Reed Foundation

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024

14. Operating leases

The total of future minimum lease receipts is as follows:

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		 2024
£
52,617
33,000
-
85,617		 2023
£
105,908
268,998
-
374,906

The amount of non-cancellable operating lease receipts recognised as revenue during the year was £163,908 (2023: £160,408).

20

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

The Reed Foundation

Detailed Statement of Financial Activities

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
Gain / (loss) on investments
Net (deficit) / surplus		 for the year ended 31 December 2024 31.12.24
£
2,500
-
2,075,893
212,858
2,288,751
2,291,251
5,790
2,500
8,186
29,666
6,958,099
7,004,240
7,004,240
1,551,277
(3,161,712)		 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

21

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

The Reed Foundation

APPENDIX 1 - CHARITIES SUPPORTED

22

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

Charity Name Christmas Challenge
Total		 Paid by Reed
Foundation
Other
1625 Independent People
174 Trust/The Duncairn
8 Below Husky Rescue
A Partner In Education
A Rocha International
A.C.E Achieve Change and Engagement
AberNecessities SCIO
Able Child Africa
Academy of Ancient Music
Acland Burghley School Trust
Acosta Dance Foundation Ltd
Act4Africa
Action For A-T
Action for ME
Advantage Africa
African Promise
Afrika Tikkun
Aids Ark
Alec Reed Academy
Alexander Whitley Dance Company
Amy and Friends
Andrew Simpson Sailing Foundation
Antibiotic Research UK
ASH RESCUE CENTRE
Aspire (Association For Spinal Injury Research Rehabilitation And Reintegration)
AtaLoss.org
Awards for Young Musicians
BADGER TRUST
Bampton Classical Opera
Bat Conservation Trust
Bats without Borders
Beaumond House Community Hospice
Beaver Trust
Bethany Christian Trust
Birmingham Hippodrome Theatre Trust Limited
Birmingham Repertory Theatre Limited
Birmingham Royal Ballet
Blackburn Youth Zone
Botanic Gardens Conservation International
Bournemouth Symphony Orchestra
Breast Cancer Now
Brent Lodge Bird & Wildlife Trust
Brighton Dome & Festival Ltd
Bristol Old Vic and Theatre Royal Trust Limited
Bristol Zoological Society.
British Limbless Ex-service Men's Association (BLESMA)
Burdett Foundation (FC)
Butterfly Conservation
Calvert Trust Exmoor
Camcycle (Cambridge Cycling Campaign)
Campaign for National Parks
Campaign to Protect Rural England, London
CAMPHILL MILTON KEYNES COMMUNITIES LIMITED
Cancer Research UK
Canine Partners
Cardboard Citizens
CARE International UK
CBM UK
Cecily's Fund
Cerebra - For Brain Injured Children And Young People
Chailey Heritage Foundation
Chance for Childhood
Changing Faces
Chaos
Cheetah Conservation Fund UK
Cheltenham Festivals
Chichester Festival Theatre
Children 1st
Children Of The Mekong
Children's Cancer and Leukaemia Group (CCLG), Samuel's Promise
Chiswick House and Gardens Trust
Classics for All
Clowns Without Borders Uk
Cobalt
Community Initiatives South West
Consortium for Street Children
CORBY CUBE THEATRE TRUST		 15,705
£
71,275
£
11,893
£
11,254
£
103,321
£
5,030
£
40,878
£
31,769
£
36,714
£
22,059
£
5,539
£
42,715
£
235,576
£
45,700
£
16,121
£
71,202
£
17,481
£
18,970
£
30,151
£
26,548
£
4,878
£
4,305
£
33,049
£
33,960
£
94,754
£
17,520
£
17,886
£
13,273
£
11,841
£
13,918
£
66,909
£
56,563
£
47,440
£
11,721
£
80,126
£
43,926
£
21,975
£
44,019
£
6,480
£
12,349
£
28,128
£
6,943
£
35,823
£
50,089
£
39,090
£
33,224
£
17,726
£
20,189
£
34,185
£
146,132
£
64,732
£
45,461
£
110,218
£
23,841
£
21,649
£
21,138
£
76,839
£
71,556
£
8,963
£
38,611
£
22,805
£
96,186
£
40,657
£
19,958
£
26,102
£
147,265
£
5,699
£
42,643
£
107,567
£
24,414
£
3,877
£		 1,500
£
12,500
£
2,000
£
1,590
£
18,144
£
737
£
7,500
£
5,000
£
5,000
£
3,690
£
1,250
£
10,000
£
50,000
£
8,000
£
2,500
£
8,093
£
2,500
£
4,000
£
2,003
£
5,000
£
1,000
£
935
£
7,500
£
5,510
£
15,000
£
4,000
£
2,500
£
2,500
£
2,000
£
3,125
£
15,000
£
7,500
£
10,000
£
2,500
£
15,000
£
10,000
£
3,750
£
8,000
£
1,250
£
2,700
£
6,250
£
1,500
£
7,490
£
11,150
£
5,000
£
5,000
£
3,750
£
1,851
£
5,000
£
30,000
£
15,000
£
7,500
£
15,000
£
5,000
£
4,500
£
5,000
£
17,500
£
15,000
£
1,500
£
7,500
£
5,000
£
15,000
£
10,000
£
2,500
£
3,550
£
15,000
£
1,250
£
10,000
£
20,000
£
3,193
£
634
£		 10,000
£
1,000,000
£
10,000
£
10,000
£
10,000
£
10,000
£

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

Charity Name Christmas Challenge
Total		 Paid by Reed
Foundation
Other
Cord
Cotswolds Dogs & Cats Home
CPRE Herefordshire
CRESS
CURE International UK
DanceFest
DANCERS' CAREER DEVELOPMENT
David Shepherd Wildlife Foundation
Dementia UK
Devon Wildlife Trust
Dialogue Society
DIRT - THE FOUNDATION FOR THE REGENERATION OF EARTH
Disability Peterborough
Ditchling Museum of Art + Craft
Diverse Abilities
Dogstar Foundation
Doncaster Performance Venue Limited
Dreamflight
Dreams Come True Charity
Earthwatch
ellenor
Embrace the Middle East
EMERGENCY UK
English Folk Dance and Song Society
English Touring Opera Limited
Essex Wildlife Trust Limited
Family Fund Trust
Family Rights Group
Farm Animal Sanctuary
FETCHER DOG
Final Straw Foundation
FINE & COUNTRY FOUNDATION
Focus Birmingham
FoodCycle
Forever Hounds Trust
Free Uk Genealogy
Freedom for Animals
FREEDOM FROM TORTURE
FRIENDS OF BREATHE ARTS HEALTH RESEARCH
FRIENDS OF INTI WARA YASSI
Friends of the Bristol Haematology and Oncology Centre
Friends of the Edward Said National Conservatory of Music UK
FUEL
Gabrieli
GAMBIA SCHOOL SUPPORT
Garden House Hospice Care
Garden Organic
Global Charities
Global Feedback Limited
Global Greengrants Fund UK
Global Justice Now Trust
GREAT NORTH AIR AMBULANCE SVC
Greener Kirkcaldy
Greenwich + Docklands Festivals
Guildhall School Trust
HARP Homeless Action Resource Project, Southend-on-Sea
HARROGATE (WHITE ROSE) THEATRE TRUST LTD
Hearing Dogs for Deaf People
HOPE FOR THE YOUNG LIMITED
Hope Not Hate Charitable Trust
Hope Rescue
Hospice Africa Limited
Hypo Hounds
Indigo Volunteers
inHope (Bristol) Limited
Integrated Neurological Services (INS)
INTERCULTURAL ROOTS FOR PUBLIC HEALTH
INTERNATIONAL NEEDS UK
Islamic Relief Worldwide
Jacksons Lane
JDRF
John Schofield Trust
Jubilee Debt Campaign
KALEIDOSCOPE DIVERSITY TRUST
Kaleidoscope Plus Group
Katharine House Hospice Banbury
Keech Hospice Care		 62,508
£
13,186
£
4,930
£
16,344
£
24,587
£
4,500
£
51,806
£
32,351
£
57,357
£
22,226
£
6,204
£
10,879
£
72,978
£
16,114
£
5,456
£
63,686
£
88,478
£
25,878
£
4,883
£
100,797
£
44,910
£
13,504
£
15,781
£
55,631
£
23,016
£
6,058
£
5,781
£
28,189
£
17,184
£
11,784
£
43,463
£
11,980
£
4,432
£
6,625
£
80,067
£
21,138
£
10,569
£
6,369
£
27,985
£
50,138
£
19,250
£
98,082
£
56,674
£
42,605
£
12,957
£
129,069
£
44,981
£
60,516
£
2,764
£
3,443
£
109,023
£
41,675
£
4,279
£
19,775
£
57,154
£
46,857
£
25,466
£
26,131
£
10,238
£
120,566
£
13,070
£
39,935
£
37,501
£
23,003
£
140,460
£
18,760
£
65,384
£
27,040
£
15,755
£
47,708
£
45,804
£		 10,000
£
2,000
£
275
£
2,500
£
5,000
£
1,000
£
7,500
£
7,500
£
10,000
£
4,000
£
1,500
£
2,500
£
16,426
£
2,500
£
1,250
£
10,000
£
20,000
£
6,000
£
1,000
£
20,000
£
10,000
£
1,250
£
3,500
£
1,310
£
5,500
£
1,250
£
1,000
£
5,000
£
1,005
£
1,686
£
10,000
£
2,000
£
1,000
£
1,500
£
12,500
£
3,500
£
2,000
£
1,150
£
5,000
£
7,500
£
2,500
£
20,000
£
12,680
£
10,000
£
1,278
£
25,000
£
7,500
£
10,000
£
155
£
505
£
15,000
£
7,852
£
1,000
£
4,270
£
5,000
£
10,000
£
5,000
£
5,000
£
2,220
£
10,000
£
2,500
£
3,860
£
5,000
£
5,000
£
30,000
£
4,100
£
7,314
£
6,100
£
3,655
£
7,500
£
10,000
£		 10,000
£
10,000
£
10,000
£
10,000
£
10,000
£
10,000
£

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

Charity Name Christmas Challenge
Total		 Paid by Reed
Foundation
Other
Level Centre Limited
LEWISHAM MUSIC
Lewis-Manning Hospice
Lichfield Cathedral
LION LANDSCAPES
Little Miracles
LIVES (Lincolnshire Integrated Voluntary Emergency Service)
LIVING STREETS (THE PEDESTRIANS ASSOCIATION)
London Cycling Campaign
Longfield
LOST DOG
Macmillan Cancer Support
MCC Foundation
MILLIMETRES 2 MOUNTAINS FOUNDATION CIO
Milton's Cottage Trust (CIO)
Missing People
National Emergencies Trust
National Youth Theatre of Great Britain
NEPACS
New Economics Foundation
Newcastle Dog and Cat Shelter
NEWCASTLE THEATRE ROYAL TRUST LIMITED
Nightingale House Hospice
Noah's Ark Charity
North Solihull Foodbank
Northumberland Wildlife Trust
ONE YMCA
OPERA RARA
Orangutan Foundation
Orchestra of St John's
Orchestra of the Swan
Orchid Project
ORGANICARTS
Orion Symphony Orchestra
Over The Wall
Oxford Philharmonic Orchestra
Pancreatic Cancer UK
PARKINSON'S AFRICA
PAUL STRICKLAND SCANNER CENTRE
Peace Direct
PELORUS FOUNDATION
People's Trust for Endangered Species
PETSAVERS
PILOT THEATRE LIMITED
Pimlico Opera
Pipal Tree
Porridge And Pens Ghana
Prism The Gift Fund
Project Luangwa
Project Trust
Rafiki Thabo Foundation
Rainbow Trust Children's Charity
Rays of Sunshine
Reach Learning Disability
Refugee Council
Renewable World
Rennie Grove Hospice Care
RETRAINING OF RACE HORSES
Richard House Trust
Ride High
RIVER ACTION UK
Romsey Mill Trust
Rotherham Hospice
Royal British Legion
Royal College of Music
Royal School of Needlework
Royal Zoological Society Of Scotland
RSPB
RSPCA Bath and District
RSPCA Warrington Halton And St Helens Branch
Safe Child Thailand
SafetyCurtain
Sands
Sarcoma UK
Save the Rhino International
Scottish Love In Action
Scottish Wildlife Trust		 4,738
£
5,534
£
88,448
£
12,719
£
11,460
£
25,411
£
16,881
£
56,260
£
11,973
£
11,411
£
94,500
£
4,238
£
16,671
£
30,697
£
20,222
£
101,569
£
4,323
£
16,862
£
9,964
£
129,947
£
19,770
£
15,768
£
39,868
£
34,463
£
23,986
£
32,592
£
11,934
£
5,798
£
11,236
£
101,064
£
8,371
£
16,565
£
6,395
£
16,748
£
13,207
£
16,014
£
5,879
£
6,546
£
18,433
£
136,926
£
12,833
£
30,000
£
28,240
£
19,446
£
16,459
£
112,023
£
13,957
£
55,301
£
157,954
£
42,253
£
120,233
£
7,761
£
77,973
£
6,857
£
101,780
£
21,643
£
223,419
£
13,076
£
44,248
£
119,061
£
27,216
£
11,206
£
7,836
£
9,025
£
111,278
£
54,830
£
92,490
£
27,468
£
11,260
£		 1,000
£
1,250
£
15,000
£
2,000
£
2,500
£
5,850
£
2,500
£
10,000
£
2,500
£
2,000
£
15,000
£
1,000
£
2,500
£
7,500
£
4,500
£
20,000
£
1,000
£
3,640
£
1,900
£
20,000
£
4,400
£
2,637
£
4,900
£
7,500
£
3,500
£
5,000
£
620
£
1,250
£
2,500
£
20,000
£
1,230
£
2,500
£
1,135
£
3,750
£
2,500
£
3,200
£
133
£
1,500
£
3,000
£
33,800
£
2,000
£
15,000
£
5,000
£
2,500
£
2,500
£
20,000
£
1,376
£
13,000
£
25,000
£
9,853
£
20,000
£
1,750
£
12,923
£
1,250
£
20,000
£
5,000
£
50,000
£
2,450
£
10,000
£
25,000
£
5,000
£
2,500
£
1,800
£
2,000
£
25,000
£
10,000
£
17,166
£
2,294
£
2,500
£		 10,000
£
10,000
£
10,000
£
10,000
£
10,000
£
10,000
£
10,000
£
10,000
£

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

Charity Name Christmas Challenge
Total		 Paid by Reed
Foundation
Other
SeeAbility (The Royal School for the Blind)
SHAKESPEARE NORTH TRUST
Shepreth Wildlife Conservation Charity
SHOBANA JEYASINGH DANCE COMPANY
Size of Wales
Society For Abandoned Animals
Society for Mucopolysaccharide Diseases
SOFEA
Somerset Wildlife Trust
SongBird Survival
SONGEASEL
SOS Rape Crisis - South Essex
Southbank Sinfonia
SOUTHERN THAILAND ELEPHANT FOUNDATION
Space For Giants
Spinal Research
ss Great Britain Trust
SS. JOHN AND ELIZABETH CHARITY
St Andrew's Hospice
St Luke's Hospice (Harrow And Brent) Ltd
St Michael's Hospice, Hastings and Rother
St Peter & St James Hospice
Staffordshire Wildlife Trust Limited
Standing Voice
Stepping Out Theatre
STREETVET
Sumatran Orangutan Society
Sunderland Music, Arts & Culture Trust
Surfers Against Sewage
Surrey Wildlife Trust
Tanzania Development Trust
Teesside Hospice Care Foundation
THE 10:10 FOUNDATION
THE ALDEBURGH JUBILEE HALL CIO
THE BEER-HARRIS MEMORIAL TRUST
The Big Give Trust - Arts for Impact campaign
The Big Give Trust - Christmas Challenge Awards
The Big Give Trust - Co-Funding and Guarantor
The Big Give Trust - DEC Middle East Appeal
The Big Give Trust - Discretionary donation
The Big Give Trust - Green Match Fund Campaign
The Big Give Trust - Kind2Mind Campaign
The Big Give Trust - New Champion Initiative
THE BODY DYSMORPHIC DISORDER FOUNDATION
The Brain Tumour Charity
THE BREATHWORKS FOUNDATION
The Children's Trust
The Clink Charity
THE DUCHESS'S HIGH SCHOOL TRUST
The Eikon Charity
The Ferne Animal Sanctuary
The Fifth Trust
The Food Museum
The For Baby's Sake Trust
The Foundling Museum
The Global Returns Project Limited
The Golf Foundation
The Grange Centre For People With Disabilities
The Gurkha Welfare Trust
The Heart Of England Forest Ltd
The Honeypot Children's Charity
The Hospice of St Francis
The Kanyike Project
The Katie Piper Foundation
The Kevin Bell Repatriation Trust
The Lake District Calvert Trust
The Leprosy Mission Great Britain
The Lincolnshire And Nottinghamshire Air Ambulance Charitable Trust
THE LINKAGE COMMUNITY TRUST LIMITED
THE LONDON INTERNATIONAL FESTIVAL OF EARLY MUSIC CIO
The Lord's Taverners
The Lullaby Trust
The Migraine Trust
The Mozartists
The Mulberry Bush
The Myton Hospices
The National Centre for Young People with Epilepsy (trading as Young Epilepsy)		 57,200
£
5,577
£
14,430
£
21,343
£
12,324
£
4,732
£
34,100
£
65,356
£
47,350
£
44,737
£
4,705
£
22,464
£
12,466
£
22,505
£
25,570
£
17,976
£
133,884
£
23,139
£
28,101
£
6,189
£
40,563
£
20,654
£
73,838
£
22,516
£
55,286
£
109,539
£
50,526
£
123,937
£
55,706
£
21,016
£
54,209
£
26,801
£
17,103
£
11,062
£
5,873
£
156,686
£
4,880
£
53,753
£
9,208
£
22,107
£
13,778
£
14,606
£
34,901
£
5,401
£
25,093
£
92,500
£
5,447
£
14,741
£
88,963
£
4,471
£
107,904
£
126,967
£
8,840
£
34,819
£
84,108
£
30,610
£
98,314
£
18,048
£
8,211
£
27,396
£
77,354
£
12,918
£
60,190
£
50,409
£
65,708
£		 12,500
£
700
£
2,500
£
2,500
£
3,000
£
1,000
£
6,250
£
12,000
£
10,000
£
7,500
£
1,000
£
5,000
£
2,000
£
5,000
£
5,000
£
4,000
£
20,000
£
5,000
£
5,000
£
1,250
£
9,070
£
4,500
£
8,750
£
5,000
£
7,500
£
20,000
£
12,500
£
25,000
£
12,500
£
2,500
£
12,500
£
4,000
£
2,500
£
2,000
£
1,250
£
35,000
£
1,000
£
12,500
£
2,000
£
5,000
£
2,000
£
2,500
£
5,000
£
1,250
£
5,000
£
20,000
£
1,208
£
2,500
£
17,500
£
1,000
£
25,000
£
20,000
£
1,250
£
4,185
£
12,500
£
5,000
£
20,000
£
1,982
£
1,250
£
6,500
£
18,017
£
2,900
£
7,500
£
10,000
£
15,000
£		 10,000
£
525,000
£
15,000
£
158,333
£
25,000
£
67,500
£
699,892
£
498,340
£
590,935
£
10,000
£
10,000
£
10,000
£

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

Charity Name Christmas Challenge
Total		 Paid by Reed
Foundation
Other
The National Society for Phenylketonuria (United Kingdom) Limited
The Nelson Trust
The Open University
THE PAPER BIRDS THEATRE COMPANY
The Passage
The Prince's Trust
THE PUBLIC CATALOGUE FOUNDATION
The Rainforest Foundation UK
The Rivers Trust
The Royal Botanic Gardens, Kew
The Royal Central School of Speech and Drama
THE ROYAL NATIONAL ORTHOPAEDIC HOSPITAL CHARITY
THE ROYAL NAVY AND ROYAL MARINES CHARITY
THE RUTH STRAUSS FOUNDATION
THE SCAR FREE FOUNDATION
The Seashell Trust
The Sedbergh School Foundation
The Sick Children's Trust
The Single Homeless Project
The Sixteen
The St Jerome's Centre
THE STOCKWELL CHARITABLE TRUST
The Three Choirs Festival Association Ltd
The Uganda School Project
THE WATERSHED ARTS TRUST LIMITED
The Wiener Holocaust Library
The Wildlife Trust for Lancashire, Manchester and North Merseyside
THE WORLD TRANSPLANT GAMES FEDERATION
The Y (Leicester YMCA)
THE YORK EARLY MUSIC FOUNDATION
The York Special Care Baby Unit Support Group
THEATR CLWYD TRUST LTD
Their Future Today
Thin Green Line Foundation UK Ltd
Third Sector Renewables
Tomorrow's Warriors Trust
Traverse Theatre (Scotland) Ltd
Trees For Cities
Two Moors Festival Limited
UCARE (Urology Cancer Research and Education)
UK Wild Otter Trust
UK Youth
UNICEF UK
UNITED KINGDOM ANTARCTIC HERITAGE TRUST
University Hospitals Dorset
Vision Action
Wakefield Hospice
Wales Millennium Centre
WATFORD NEW HOPE TRUST
Wearside Women in Need (WWIN)
WeSeeHope
WHITCHURCH SILK MILL TRUST
White Lodge Centre
Whitley Fund for Nature
Wild Futures
Wildfowl & Wetlands Trust
Wildlife Vets International
Willen Hospice
WIMBLEDON AND PUTNEY COMMONS CONSERVATORS
WINCANTON COMMUNITY VENTURE
Windle Trust International
WINDMILL HILL CITY FARM
WISE CHILDREN LIMITED
WOLO FOUNDATION
Woodcraft Folk
Worcestershire Wildlife Trust
World Heart Beat Music Academy
World Villages For Children
World Vision
Worldwide Radiology
Worldwide Veterinary Service
YMCA DownsLink Group
YMCA EAST SURREY
You okay doc?
Zoe's Place Trust
Zoo Co Creative Ltd		 4,980
£
76,448
£
5,020
£
711,945
£
118,873
£
54,943
£
54,310
£
94,199
£
49,297
£
75,543
£
28,811
£
62,074
£
49,198
£
72,209
£
53,718
£
90,902
£
85,143
£
38,748
£
9,679
£
32,483
£
17,265
£
15,666
£
17,189
£
39,175
£
45,284
£
10,877
£
25,859
£
4,931
£
4,846
£
15,494
£
6,931
£
41,250
£
16,396
£
22,528
£
91,868
£
26,290
£
7,374
£
5,679
£
57,570
£
34,497
£
25,855
£
26,174
£
6,166
£
54,971
£
19,243
£
8,346
£
91,969
£
126,898
£
9,496
£
64,938
£
31,647
£
38,570
£
9,359
£
17,924
£
40,756
£
17,325
£
39,285
£
8,722
£
19,466
£
42,015
£
12,151
£
12,896
£
52,955
£
16,776
£
20,315
£
10,212
£
8,049
£
25,659
£
51,921
£
7,376
£		 1,000
£
15,000
£
1,000
£
50,000
£
25,000
£
9,000
£
12,500
£
20,000
£
9,747
£
17,500
£
5,000
£
14,000
£
10,000
£
12,800
£
9,548
£
20,000
£
20,000
£
5,000
£
1,750
£
5,000
£
2,500
£
2,500
£
2,500
£
7,500
£
10,000
£
2,500
£
4,600
£
1,000
£
1,000
£
3,000
£
1,500
£
7,500
£
3,750
£
5,000
£
17,135
£
5,000
£
1,375
£
1,200
£
13,000
£
5,650
£
5,000
£
6,250
£
1,250
£
7,500
£
3,125
£
1,900
£
20,000
£
25,000
£
2,000
£
13,950
£
4,518
£
7,500
£
1,200
£
3,000
£
7,500
£
3,750
£
7,500
£
1,500
£
2,500
£
9,400
£
1,500
£
2,000
£
4,817
£
2,500
£
4,420
£
2,500
£
1,565
£
5,000
£
10,000
£
1,600
£		 10,000
£
10,000
£
10,000
£
500,000
£
20,000
£
10,000
£
10,000
£
10,000
£
10,000
£

Docusign Envelope ID: 6F9507A1-7AA6-4C8E-897E-060FDF8AB0C9

Charity Name Christmas Challenge
Total		 Paid by Reed
Foundation
Other
Totals 14,140,698
£		 2,553,155
£		 4,400,000
£
Donations to individuals
Total paid by Reed Foundation
Total as per Statement of Financial Activities		 4,944
£
6,958,099
£
6,958,099
£