Charity registration number 265856 MARGARET HAYMAN CHARITABLE TRUST FUND ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 MARGARET HAYMAN CHARITABLE TRUST FUND LEGAL AND ADMINISTRATIVE INFORMATION Trustees Carotyn Hayman Charlotte Wassermann Ruth Was5ermann Fran Bury Frank Hayman Shella Hayman lobserverl Daphne Wa88erman Secretary Daphne Wasserrnann Chartty number 265856 Registered office 51 Westbourne Gardens Glasgow G12 9XF Independent examiner SafflÉr Shah Ramon Lee Ltd 93 Tabernacle Street London EC2A4BA Bankers Co-opÈraI￿8 Bank plc PO Box 250 Delf House Soulhway Skelmersdale Lancashir8 WN8 6GH Investment advisors W1M 16 Llabmaes Slreel London SW1Y 6AH MARGARET HAYMAN CHARITABLE TRUST FUND CONTENTS Page Trustees report Independent examiner's repot¢ Slalemenl of financial activities Balance sheet Notes lo the financial statements 7-14 MARGARET HAYMAN CHARITABLE TRUST FUND TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees pr6sent Iheir annijal report and financAal slaternenls for the year ended 31 De￿rnber 2Q24. The flnancial slalemenls have been prepared in accordance with the accovnling pDIicAes set out in note 1 lo the financial slalemenls and comply with the thar11￿5 Tiusl Deed, the Charilie5 Act 2011 and Accounting and Reporiing by Charilies.. Statemenl ol Recommended Piacti￿ applicable to charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" lefteclive 1 January 20191. Objectives and activities The uninwrpoialed Tiusl was forn￿d by Deed made on Ihe 11th May 1973. The Ma¥garel Hayman Charitable Trtjst Fund was established with broad objectives as a trust for charitable PUTposes. The current policy i)1 (he ¢harily is lo make grants in the areas of priority defined by the Irustees from tim? to lime. The currenl maitE locus is on the intersection between environment and social j¢Jslice in low-In¢ome countries. The Trust has no staff. Administr2lion is handled by the Ttuslees. Decisions are made periodically throughout the year, bul the Trustees are able to respond to urgent reqtjesls from organisations already known to them. Risk management The Trustees have assesbed the tnajor risk5 to which the charily is exposed. in particular those relaled to the Operat￿￿$ and finan￿$ of the "Irust and are satisfi'ed that systems are in place lo miligale our exposure lo major risks. Public Benefit statèmènt In shaping our objedives lor the year and planning our 8Ctivities, tho Tiustees have considerèd the Charity Commission's guidaTrce on public benefit, including the guidance 'publi¢ benefi(.. running a tharity IPD21'. The achievèmènt5 and aeliM1185 below demonstrate the public benefit arlsing through the Charity's aclivsties. Grant making policy During 2024 the Trustees f￿￿sSed their larger grants on projccls al Ihe inlersecllon of environmental 8u.%lainsbilily and social justi￿, focussing in addition on work benelilinq low income countries. Granls are generally made to relatively young organisalions. Start-ups are wel¢orned. The Trust generally makes grants lor cole Gosls. The Trust has a bias towards work that creates lasting Change for the better, for example by replieation, gairling governmenl support, increasing capacity or leveraging knowtedge and innovation, and which is carried out by, or wilh subslanlial involvemenl from. local people. Other stnall giants were made lo refugees known to them personally. The Tfuslees agreed lo continue with Ihe same priorities for 2025. Grant application process The majority of granls are made to oiganisalions kt*own lo the Tiuslees. However, in some cases donations have been made in response lo unsolicited appeals, where these fil very closely with Ihe Trust's piiorities. The Trustees welcome enquiries from organisalions that have a very Close fil with Iheir concerns, bul applicants should be awarè Ihat funds ale litnited. The Tr￿st now has a website Ihllps.'Ilmargarelh£ymancharilabletrusl.wordpress.com4. If you wish lo apply foi funding, please send email applications lo carol n.ha man obox.com. Please pul Margaret Hayman CT in Ihe subjecl line_ Please dts not send paper applications as we have no way of cir¢ulaling these to Trustees. MARGARET HAYMAN CHARITABLE TRUST FUND TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and perfomiance Review ol activities The main grantees in this period were as follows-. AFSA is a pan-African alliance lor food sovereignty. The core puipose of AFSA is to influence poliaes and io promote Alriean solutsons for food sovereignty. AFSA will serve as 8 continental platform for consolidation ol issues pertaining to food soverèignty and together marshal a sin9le and louder Vol￿ on issues and tabling dear workable solutions. In additional lo the last inslalmenl of a core granl, Ihe Trust made a contribution t(wards Ihe u>st of a rkan Afric2n gathering of young environmental innovators. The Glacier Trust enables climate change adaplalion in mr31 areas of Nepal. Lo￿1 skills in agroloreslry are shared via hubs and spokes Isalellile ￿ant nurseries) where skilled farmers enable the producaion and sale of seeds, S6edlings and produeé. SolaT Aid ploneers the dislribulion ol solar lamps to hard to reath communities. 11 was uiven a grant for evaluation of ils model ol'lasl mile. solar saks using female entrepreneurs in Malawi. Auto Safety Uganda is pioneeTrng emtssions testing of public Servi￿ vehicles in Uganda. Our oranl was towards the cosl ol biiilding premises in which to condud tests. iGrow Sri Lanka is setting up a model fzrm in Northern Sri Lanka to sharè innovations in farming such as data analylics, soil measurement, and smart irrigation. addressing the pressing challenges of water scarcity and labour ineffLiency in the arid Mullailivu region. iGrow is currenlly in the process of establishing its model farm across 14 actes, aiming to translorrn the entire land into an inlegraled and innovative regenerative farm. Sand Dams International supports thé developrnent of 8xp8rtise in sand dam construction and funds partners lo bulld dams working with ¢ommunllies in different countries. Our grant was the first instalmenl to support a cost bef)efil study of sand dams. In addition the Trust gave 8 donation to support 8 forrnei colleague of one ol the Trustees now a refugee in Cairo, and a small grant lo a refugee known lo the Trust. Full details can be found in Note 6 to the Financial Statements. Perfomiance monltorlng and rèvlew The Tiusl requires all grantees lo report back within 12 months, Many grantees receive mulli-year gjranls. with successive giants being conditional on sali8lactory progress against the planned objectives. Financial review Investment powers and policy The Trust Deed aulhorises the Tiustees to make and hold inve51menls using the general funds of the charity. The trustees have the power lo invest in any way that they see fit. During the year, the market value (Trf the Trusl's inveslments increased by £fj12,276 16.00°Al to £2,049.713. This increase included net unrealised gain of £128.01212023- £222.325). Future movements in value are expected to be in line with the main markets in which il is invested. In line with our commitment lo Divest Invest, inveslfflenls are m8n3ged by Wl a bespoke ethical and fossil free portfolio. This results in somewhat higher than normal managemenl costs but is in IiriE Wlth Trustees, ethical Tequiremenls. The T[L￿st also holds a direct investment in a solar project In Barnsley. The ttusl has al Eeast $0/4 of ils inveslmenls in ronewable energy, whith are ehosen and managéd by W8verton. MARGARET HAYMAN CHARITABLE TRUST FUND TRUSTEES REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Resetves policy It is the policy ol the Trustees lo mainlain the unrestricted reserves of the Trust not commitled or itEvesled in fixed asset investments (the free resetvesl al a tninimurn level of £10,000. At the end ol the financi21 year the free rese¢ves amounted lo £58,793 12023 - £48,46812nd weTe above this laryel level. The lolal reserves at 31 December 2024 were t2,108,50612023- £1,985,￿41. Plans for future periods Future dèvelopments The Trustees. priorities for 2025 are set out above. The main focus will continue to be the intersection of environment and social justice, in low-income eounlries. The Fund remains a member of the Enwronmental Fundets Ne￿ork. Incowning resources and fO￿ard commitments The Trustees do not anlicipale additional resources being put into the Trusl, other than very srnall royally payrnenls. Al the yeai end the TnEsl had fvluio condition31 granl commitments of approximately £60,aOO (202> £60,000). statemÈnt of trustÈes responsSblllties The Iruslees are resporjsible for preparing the TrLtstees Report and the financial statements in accordance with applicable18w and United Kingdom Accounting Slandards (United Kingdom Generalty Accepted Accounting Pra¢licel. The law applicable lo charities in England and Wales requÉr85 the twslees lo prepare financial statements for each financial year which give a true and fair view of Ihe stale of affairs of the charily and ol the incoming reSoUr￿S and application ol resouTces ol the tharily forlhal year. In preparing these finanaal statements, the Iruslees are required to.. sèlect suitable accounting policiès and then apply them ¢onsislenlly'. observe the methods and piinciples in the Charilies SORP., make judg8rnenls and eslimales Ihal are reasonable and prudent., slate whether applicable accounting standards have been followed, subject lo any malerial departures disdosed and exp13inecS in the finan25 MARGARET HAYMAN CHARITABLE TRUST FUND INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MARGARET HAYMAN CHARITABLE TRUST FUND I report lo the tiuslees on my examination ol the finan¢lal slalemenls of Margaret Hayman Charitable Trust Fund Ilhe charilyl fcr the yeai ended 31 Decetnber 2024. Responsibi111Éè5 and basis of report As the Iruslees ol the chaftly you 8re responsible for the preparation of the financi81 statements in accordance wilh the requFremenls of the Chaiilies Act 2011 Ilhe 2011 Acll. I report in respect of tny examination of Ihe charity's financial statements eairied oul under section 145 of the 2011 Act. In carrying out my examination I have follcmeil all the applicable Directions given by the Charity Commission under section 14515llb) ol the 2011 Ael. Indepèndent èxamlnefs statement Your attention is drawn lo the fact that the ch3rÉly has prepared financial siatements in acetsrdance With Ac(x)unlinq and Reporting by Charities prepaftng Iheii accounts in accordance wlh the Financial RèportitTrg Starjdard applicable in the UK and Republic of Ireland (FRS 1021 in preference lo the Accounting and Reporting by Charities.. Slalemenl of Recommended Praetfft issued on 1 April 2005 which is referred to in the extant regulations bul has now been withdrawn. l understand that Ihis has boon done in order for financial statements to provide a tnje and fair view in accordance with Generalty Accepted Accounting PraLtI￿ effeclive (or reporting periods beginning on or after 1 January 2015. I have completed my examinalion. I confirm that no rnalleis have come lo my attention in conrkectSon with the examination giwng me cause lo believe that in any Tnalerial Tespecl.. a¢counting records were nol kept in respect of the charity as requiied by Section 130 of the 2011 Aol,. or the finanoial sl8lemen15 do not accord with those records., or (he financial statements do not ttomply wilh the appli¢ablo requiremenls concerning the form and ￿nIe￿i of accounts set out in the Ch8rities IAccounts and Reports) Regulations 2008 other than zny ￿qUireMent that the accounts give a true 2nd fair VI￿ which is not a matter crjnsidered as pati ol an independent examination. I have no concerns and have come acioss no other malters in connection with the examrnation lo which attention should be dTawn in this rcpori in order lo enable a proper understanding ol the financial slalgrnents lo be reached. Samir Shah Ramon Lee Ltd 93 Tabèrnacle Street London EC2A4BA Dated.. 27 July 2025 MARGARET HAYMAN CHARITABLE TRUST FUND STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted nds Total 2024 Total 2023 Notes Income from: Donalions and legacies Investments 2,000 43,823 2,0 43,823 37.999 Total income 45.823 46,823 37.999 Ex enditure on.. Raising funds Ch8ritable ¥divilies 22,006 88,288 22.006 86.288 20,107 100,132 Total expenditure 108,2Q4 108.294 120,239 Net gainslllossesl ori investments 185,073 185,073 251,251 Net incoming resources before Iran$fers 122,602 122,602 169.Q11 Nèl movèment in funds 122.602 122,602 169,011 Fund balances al 1 January 2024 1,985.904 1.985.904 1.816.8g3 Fund balances at 31 December 2024 2,108.506 2.108.506 1,985,￿4 CONTINUING OPERATIONS None of the Trust's activities w8r8 acquirèd or dEs￿ntInued during the above financial periods. TOTAL RECOGNISED GAINS AND LOSSES The Charity has no recognised gains or losses other than the above movement in funds for the above financAal periods. The notes on pages 7 10 14 forrn part of these finanaal slalements. MARGARET HAYMAN CHARITABLE TRUST FUND BALANCE SHEET AS AT31 DECEMBER 2024 2024 2023 Notes Frxed assets Investments 12 2,049.712 1,937,436 Current assets Deblors Cash at bank and in hand 13 2,166 63,182 54,520 .348 54,520 Creditors= atnounts falling due wÉthin one year 14 (6.5541 {6,0521 Net current assets 58,794 48,468 Total assèt5 lèss currènt liabilitiès 2,108,506 1,985,904 Incom8 funds Unrestrided funds 2,108,506 1,985,904 2,108,506 1.985,￿4 The financAal slaternenls were approved by the Trustees on 27 July 2025 and were signed on thèir bèhalf by". Carol TYustèÈ an MARGARET HAYMAN CHARITABLE TRUST FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Ac¢ountlnu pollcles 1.1 Accounting convention The financial slstements have been prepared in accordan￿ wth Ihe charily'5 ITru5t Deedl, the Charities Act 2011, FRS 102 "The Fin3neial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 1021 and the Charities SQRP "Accounting and Reporting by Chsrities.. Slaternenl ol Recommended Pr3cti applicable lo charities preparing their accounts in accordancè with the Financial Reporttng Standard dpplicable in the UK and Republic of Ireland IFRS 1021" {effecllve 1 January 20191. The Charity Is 8 Public Benefit Enlily as delined by FRS 102. The financial statements are prepared in sterling, which is the fijnctional currency of the eharily. Monetary amounts in these financlal slalemenls are rounded to the nearest £. The finaneial statements have been prepared under the historical Ivsl Convent￿￿, Imodified to include Ihe revalualion of freehold properties and lo include investment properties and certain finanual inslruments al fair valuel. The principal ac¢ovnling policies adopted are sel our below. 1.2 Going concern Having regard to the level of resetves and the ongoing level ol expenditure against unreslricted funds in conjunction with the development of the lundraising aclivily in the coming year the trustees are satisfied that Ihe accounls should be prepared on a going concein basis 1.3 Charltsble funds Unreslricled funds are available lor use at Ihè discretion of thé trus18es in Turtherance tbl Iheir ch8rilable objectives. 1.4 Incomè Income is recogniscd whcn tho Charity ha5 enlitlernenl lo Ihe funds, any performance conditions attached lo (he ilemlsl ol incame have been mel, il is probable that the income will be received sts are eXpe￿sed as incuried. 1.7 Cash and cash equivalents Cash and cash eqvivalents include cash in hand. deposits held at call with banks, other S￿rt-terM liquid investments with 0￿gEn￿lI malurilies of th¥ee months or less. and bank overdrafts. Bank overdrafts a￿ shown wlhin borro￿NgS in cuirenl liabilit￿s. 1.8 Flnancial instrument$ The chaiily has eleded lo apply the provisions of Section 11 'Basic Finan¢ial Inslrumenls, and Section 12 'other Financial In61tumenls Issues, of FRS 102 10 811 of its financi81 inslrumenls. Financial instruments are recognised in the charity's balance sheet when th8 chartty becom8s party to the conlraclual provisions of the in8trump.nL Fin2noial assels and liabilities are offset. w¢lh the nel amounts presented in Ihe fjnancial slalernents. when there is a legally enforceable right l(> set off the recognised amounls and Ihere is an intention lo sellle on a nel basis or lo realise Ihg asbel and sgllle Ihe liability simultaneou51y. 1.9 Creditors arkd ProvÈsiotl8 Provisions arè recognised when the charity has a legal or conslruclive present obligation as a result of a past event, il is probable Ihal the cha¥ily wll be fequired lo settle thdt obligatton and d reliable estimdte Lan be made of the arnount of the obligation. The amount ieex)gnised as a prowsion Is the best estim81è of the consideration required to settle the present obligation at the reporting end dale, taking into account the risks and uncèrtainliès surrounding the obligation. Where the effect of the lime value of money is rnalerial, Ihe amounl expeoled lo be requiied lo sellle the bligation is recognised al present value. When a provision is measured al presenl valve, the unwinding of the discount is recognised as a finance cost in nel incomcllcxpendilurel in the wriod in which il arises. 1.10 Fund accounting Unrestricted funds are available lo spend on activities that furthei any of the purposes of oharily. Designaled funds are unreslricled funds ol Ihc charity which Ihc Iruslocs havc de￿ded al Ihcii discrclion lo sel aside lo Use foi a specific purpose. Reslricled funds are donations which the donor has specified gre ID be solely used for p&rticiJlar areas of the"1 rust's work or for specific projects being undertaken by the Trust. l.ql Realised l unrealised gains and losses All gains ar￿ losses are laken lo the Stalemenl of Financial Actwilies as they arise. Realised gains and losses on investments are calculated as Ihe difference between sales proceeds and their opening carrying value or Iheii purchase value il acquired subseouenl to the fi'rst day ol the financial year. Unrealised gains and losses are calculated as thè difference belween the fair value at the year end and their ￿rryIng value. Realised and unrealised investment gains and losses are combined in Ihe Slalemenl of Financial Adivities. 1.12 Debtors Trade 3nil other debiors are reu)gnlsed al the setllement amount due alter any Irade discount offered. Prepayments are valued at the amouTht prepaid net of any trade discounts due. MARGARET HAYMAN CHARITABLE TRUST FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Criti¢al accounting esttmaies and judgements In the application of the ch3rit*5 a￿0￿￿tIng poliaes, the Iruslees are required lo make judgemellls, eslim81es and assumptions about the carrying amount of ass8ls and fiabililies that are not readily app3r8nt frotn olhei sources. The estimates and associated 8ssumplions are based on historic81 experience and other factors that are considered lo be relevant. Actual results may differ from these eslimales. The eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions lo aceounling estimates are recognised in the period in which the estimate is revised where Ihe revlsion affo¢ls only that period. or in the peiiod ol the revision and fulure petiod5 where the ievision affects both ¢utrenl and future periods. MARGARET HAYMAN CHARITABLE TRUST FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEIWBER 2024 Donatlons and lega¢les Unrestricted funds Totsl 2024 Total 2023 Energise Bamsley 2,000 2.QOO 2,000 2.000 For the year ended 31 December 2023 Investments Unreslricted funds Total 2024 Total 2023 Divadend income from listed investments Interest Royalties Bank refund 2nd ComperEsalion Exchange varian 43.791 43,791 39,029 50 101 83 {1.2641 32 43,823 43,823 37.999 For the year ended 31 December 2023 37,999 37,99g Ralsing funds Raising funds Total 2D24 Total 2023 Olh8r f￿r￿raiSIrtg Costs Share of Supwri costs Isee note 81 Share of Governall￿ costs (see note 81 19,650 628 fj.728 19,650 628 1,728 17.919 648 1,540 22,006 22,006 20.107 For the year ended 34 December 2023 Fltndraising and publicity 20,107 2Q.107 2D.107 2Q.107 10- MARGARET HAYMAN CHARITABLE TRUST FUND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 CharitabTe activities Donatsons Total 2024 Total 2023 Gr2nl funding ol activit18s Is8e note 71 86.288 86.288 100,132 86,288 86,288 100,132 For the year ertdèd 34 Dècember 2023 Unreslricled funds 100,132 100,132 100.132 100,132 Grants payable DOna￿on$ Total 2024 Total 2023 Grants lo institutions.. Grants to Charitie8 Individuals in need Peace 84,959 1.329 84.959 1.329 94,332 £00 5.QOO 86.288 86.288 100,132 During the ye81 giarE15 of £2,000 and over were charged to the Stalement ol Financial Activifie5 for the following chaiitable organisalions and IndI￿dual5. Beneficiary- Glacier Trusl Autosafely Ugan(Ja AFSA AFSA Youth Summit iGIow Sand Dams Amount 25,000 17,000 15,000 11.029 8.930 8,000 11 MARGARET HAYMAN CHARITABLE TRUST FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs The Charity initially identifies Ihe cosls of ils support thndions.11 then identifies those cos16 which relale lo the governance function. Governance oosts and other support costs are apPOrt￿ned sepaialely b¢lween charity's key activities ÈEndertakeu (see note 3} in the year. Refer lo the table below for the basis lor apportionment and the analysis of support ￿StS and governan￿ costs. Suppori Governancè 0Sts costs Total 2024 Total 2023 Subscription Admin expenses 500 128 500 128 148 Independent examination fees 1,728 1.728 1,540 628 1,728 2,358 2,188 Analysed bÈlw8en Fundraising 628 1.728 2,3S6 2,188 628 1.728 2,356 2,188 Net movement in funds 2024 2023 Nel movemènt in funds is stsled aftèr charging/{uedilingl Ind8pendenl examination 1,728 1.540 10 Trustees No Iiustee received any remuneraticm or reimtAJrsement ol expenses for their services as trustees P023 £nill. The ¢harily did nol employ any staff during the year12023 £nlll. l Net gainslllossesl on investments Unrestricted funds Total 2024 Total 2023 Gainl{lossl on sale of investments 185.073 185.Q73 251,251 185.073 185,Q73 251,251 For the year ended 31 December 2023 251,251 251,251 12- MARGARET HAYMAN CHARITABLE TRUST FUND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Fixed asset investments Total Cost or valuation Al 1 January 2024 Additions Net realisedlunrealised investment gains Disposals 1.937.436 228.133 185,073 {30Q.S301 Al 31 D6eember 2024 2,049,712 Carrying amount Al 31 December 2024 2.049,712 At 31 De￿mber 2023 1,937,438 All investmenis are quoled on a recognised Stock Exchange and cKJmprise of.. UK Equities UK Fixed Interest Slocks UK Bonds Overseas Equities Alternatives 1,621.340 205.014 25,OOQ 198,358 2,049,712 13 Debtors 2024 2023 Amounts falling due within one year- Accrued dividend income 2.166 2.166 14 Creditors= amounts falling due within one year 2024 2023 Other creditors 6.554 6,052 6,554 6,052 13- MARGARET HAYMAN CHARITABLE TRUST FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 15 Analysis of net assets betweerk funds Unrestricted funds Total Unrestricted funds 2023 Total 2024 2023 Fund ba13nc&s al 31 December 2024 are represented by.. Inveslmenls Current asselsllliabilities) 2.049.712 58,794 2,049,712 58.794 1,937,436 48,468 1.937.436 48,468 2,108,506 2.108,506 1.985,904 1,985,9Q4 6 Related paty transactions There were no disclosable related party transactions during Ihe year12023- nill. 14