2025-01-31-accounts

TFir iV￿￿'rr.LL C14AIIITABI.E fuND UNALIDITEfJ FI￿￿,A1)ellIL SI'ATF..:11 r.N'i's fui. the yeai. ended 31 JAliUARI' 202$ COIN'TI.'NTS PJg¢ Iii(Jeptiide111 Exaniii)ei's RLpon Balilnre 51ieet Nules to rhe fiiiancial slatLmLntS 9-13

-I'IIF. IIIIIIIXFLLL C.'IIARII'JlE3LL li 11,ND REI", LRf&J'CL AIND AI)ThllINlS-fRA'I'IlfL DL'I'AILS ThL Tru51 i%r?s ciealed .111il Loriliiiues to be gY{)%'enied IIY IL t1Us1 deed di< led 3 DeLeInber l Q73. ThL l-ni8t is a rc8isieied I'i'ublie l< A L Diift. S E Cliflord Bu¥vles Addi'ess J5 Iveslgale HuddLrsfield HDI IPA UBS frlG N.QLioiial IVesii?Iillbler Bank PIC 24 Dec111SJO te Bolton BLI IBNT Accountaiits Whe¢1IvilI & gudivoiih Liwittd Charltied Accoiintanls 35 We51LJale Huddersfield HDI IPA

1'14E II'IIINli r.i.L C.11.Illll'ikBI,E I."UND TRI.-STf41-,.8' ANNllkKI, Rf4.PnllT by CliJrilics alLord￿l￿1LL iiijili tlie l-.inanLial R¥poi'liTrg Siaiidi21'd applic1c ble in tlie Uk aiid Republic of Irelaiid piibl ished October 2019 Isecoiid E(litioii). Objectii'o% actii'ilii's of Ioc218iid globul social iini?aLI. Puljlic bLttofJt Statement I'lie TrustLL5 lill￿￿ coiisideiEd Ilie gL>IiLr411 giiidkYnCL oil Iiublic benefit ISJiied b}, Ilie CliaI'ils C.'ominisbiOli in tarryiiig OLII ThL I rLlSI reLeived illLoino (￿]. Ihl }'i'.Ir lolL211]n￿ £39,1,5?81 ?074.. £ I IX,I161. E.Kl)endiliirt loliE Iled £1 %7,552, L150.000 £1 S_.7 7?6 01. Il-liityli £ l i0.000 i¢lalLd 10 disiribLili01Trs1. Di51ribulion5 IIElI'e betii Inade to sevLii cliarit£iblt oroanisdtions 120?4'. sci'iiTrl. DLlfjllL, Ihib cun'eiii fi￿ancial year Iliere lias beeii il SLioIILlS UF iiicotnL oi'ei. expendituie, beloi'L ll￿1 g¢71n￿lO$SeS on ini'eslThients, of £fj06:976120?4.. deficit £45.5101. Al tlie start of Ilie year ihL Trus1'S quoled inveslimenis ivere Iiicd Mi 16.451,855 and by Il)e end ol- Ihc }'eilF thc Vir ILie had increased 10 £7,308,450. JIFI'eJliiiL'iJr ￿l[lI1a¥Ll.S i'ei?oJ'l Financial N4ai'kel.s 0￿c[vIC1V 12 TnoTrihs to January 2025 Tlie pa51 year has been ei'enifLiI for LTIDb¢l1 finii)cial marke15, marked by significant deVelOp￿ents and shifts. Equiiies Globill eqiiiiies exiiei'ienced robust pei'formanee in 2U?4. with the S&P 50n returiiing 25Yo, maTkin the second Lon&£tiiliv¢ ye£ir ufi)i.'er ?OO/fj EAin8. TIIL DveiAII miiiket rally ii'iis driven by d combinalion ofiale cuts by major Lenlral banl(s, Ilie continued slrL>noih L)f tlie US economy, Iiiid opliinisin surrouiiding Ilie comniercialisalion ofartificidl intLllivence IAII. kloivevLr, DiCtmbLr ?024 bJiV a deLliiie across boili global aiid US equilieb diie 10 marl(ei disf inlLrLbl T<iie culs in 2025 and profit-iJking i fter a i)osiiifvc l ? i￿0[7[11s. SironL globil equity pcrforinanee was ll ts]ilii'ind for Qui. Global Fligl) Dividend Yield Eqiiiiy %lraleB) despilt its IlcltLiral uiTrdei'iveioliT allocation ID Iht leLh SLCtor. More gradual inietebl rate cuis Ihlln Iiad been e.xpeLied al Ihe Slic It ufthe year had d particular negatI￿.e beil1.ing across our Siisiainablc Invcsting stralegies diie

I'111", 1111.Ilh'l."LLL CII.4RI-I'èlBLL I,"IlIND I'RlI.8'rF'.k'%' A￿,￿lU,￿L. REI?Oll'l' Icoiitlllubdl lo Ihe ok'eiii'eiLklil 4illoci11101l to sniLiII aiid niid-Lap con1pinie5 11'hiLli are niorL eipttsed li) tIo2¢ tinn.ijle debi. As result. IIIL Riiosell ?UOO {tlie1.11-oesi siiiall &. ii)id-¢ap index in Ili¢ USI lagged the S&P by c.9/.. riKLd IiiLome 14jDlI-qiialiry fi.xed tiicome liad a weak. end lo 20?4, influenced hy IhL 8RillL faLlors 11 ffe¢iin¥ eqiiilies. Despitt this, ,li-oride 11Tr(l iiiveslmciit-gTI'2E di bondi, diijersified fixed iiicon)e, aiid siislain,qble focuseil llIliil￿Ieral Develtspiiienl BaiiL lTroiidg reiii¢iiiie(I valuable conipoii¢iils aei'oss disci'elionaiy poitlolios ofterinth sliong ovenll peifortnaiice and dii'ersifjcalion benefils. Economic (ind Policy Influences l-lie rebilieii¢e of rhe LIS ecoiioiiij, coiipled ivtrili fi?Iliiio 21TrteFC51 raits aiid slivLiiif1i I railivinds Irom Al, pi'ovided d VIILif<1hle bilLI-di-01) fi)r Èquilics. ThL 11.% eleLI ion oiilconie in Noi'eiiiber 20?4 1'einovL(1 I k£y 50Lirce of iinLeitainty, fiiiilier booilinLJ ll12rK-ei coiifideiice. l-loii'e¥er, inflation reiiiained aboiie cenli-l< I bic iTrk iaYgtl.%. and rerent gi'vjivih dal sIIoi¥'Ld si￿1]S of iveakeiiing, protRpliiTrbT illai-kets lo PllLe in poienlial rdle culs for 2025. Perforlliiince llionih5 10 _3 I .IIL n 20?q ro .3.C)'/DI- Tlie Su.sliL Illiible Ini'e51iiiil ilraieui, also providL'd positiKe ierunis of 14.6Vn over tliL 9£1me period VilSUS tbe ARC GBP Gi'oivili ptergTOllP r¥iuni 01. 1 l. l /*. Tlie portlulio PLrloillied ii'bll due 10 ilie lTritslier dlloLdlion lo equiiiL5 aiid lliiiural global eqiitly exposLire. Whi15t ihe bond alloc&ltion Ic.2511/,} Ivas sSitshtly more niulcd froin d i?bl'forniaiice perspeCti￿e. it did liowevLI' provide divLrsificatioii benefi15 especially ivlien ive Silw soine eqiiity ni?[ I'ket volaiility in Ilie tliird quarter of tlie yeai.. Trustees The Ttustees iylio served durinu the year ivei'e as folloi¥s'. KALDuff S E Clifford Bowles Tlie Trliblees Ineel I least oiice a year Lo review the regul<ir distributions oiil of trust income. nottnally mttde in JanLiary. Thty fLieel as iiccessary al otlier times to review ivliich Lliarities ivill benefit Irom income ivhicli remains to be allocated.

'I'HF- 11'141h'li fi 1.1, L"IIAIU'I'pllll.r D UND I-RIISTF,I,'S' AN'NI IJAI.. REP()RI- ILI)lilinii¥dl UBS AG coIiliiiiie èis investii)eiii ad￿.￿serS on a disLreiioniiy basis Iiiid are instrLicled to liold Ihe cli£irily's iiivebln)enls as iioiniiiLLS. The inveslmeiil objeciive is for iiicome lo iiicre£ise bill tlie cipIlil should, if possible, Inaiiil£iin lis value in line ivitli Stcltcinciit ofTI'iE5tces i'C5P<3T15LbilKtic. Tlic ti'u8rLes I'c8pDiisible foi. prei)ariiig tlie Tiii.%tccs' Aiinu21 Reporl Inil IlTre financial 51Utemenis in accordi£ nct willi Ipi)IiLJble laii. diid Uiiiied Kiiiodoiii ALcounlino Siandar(Is Illiiiled Kiiiqdoni Geiierally Accepted Accoiiniina PTaclice). fiiiLillLial year ivliicli gii'e a Inie and fair view- of the statL of atfJirs of tlie cliarily of tliL inioiiiiiig resoiiiceE 'riie I'ruslees ui'e rLspvnsiblr lor niiiinlaininii prL)per aLLuuniing records ivhiLli disclose ivitli reason1￿ ble accuraL}' at Cliill-llies Aci ?011, Ihe C'h￿ritY IAccouiil% 4911LI Rei)ort81 RLgiiliilioii$ 2008 aiid Ilie pruiiisiuiib vf Ihc tru.qi deed. Tliej, are also I'es1)oiisible lur sal¢Duaidinc7 Ihe aiseis ol- Ilie chaiily 1k lid lieiice lor takiiig ielSOn<ible sieps for Ilie pievtntivii and delcclioii of frdud and oihei" iLTL'¥ulaiities. For Ilie ye&il cnded I l .Icinuary ?O?i. tlie Irusle¢s ¢ll)plied for dispLIis&ltion fiDiii the accounts scruliny reqLLirements of se¢lion 144121 ol. IliL Cliai-ilies Act 2011. Tlie CliaiiLicb Ct)iniiiissi051 grai)ied a dispeiisulion undei- TegJllla[ioll 34{3)Ibl Df the C'.liai'iiie.s (Accounts aiid Repoi't%) RcLJiilatlOn5 200R oti 23 Ociob¢i' 2025. The trustee5 liave confimied Ihat for the PLifp05es of tliis di5pensalioii they I)￿7Ve elected For an indcpendent Ll)ination in place of an audit as ihoiigli this optton were available iindei section 145 ot the 2011 Act. This (lispensiL (ion Ironi the audil rpiiiiiren)enis ofseclion 1441?) is for the FiiTrllnciJl year ended 315t Jaiiuary 2a25 only and alloivs an iJidepeiidtiTrt examiLiation iji plaLE ol. &ii audil for this parlicular Financial year. Reserves policy The TILL%lees ctsii&id¢r ilial Ilie level of reserk'es Iield lil 31 Jdnkiarj ?02) lo be satisfactory laking iiito accDuiiI Il)e ftiture iieeds,qnd objeLLives ol- Ihe cliarily. Tlie TrLisiee% revieiv 81 r¢&triilar inlLrv<ils Ihc 41tnoiinl of inLome received by Ilic cliL1fiiy £11oiitsside thL rLqllCS(% fur donalion5 to beiiL.fici12rics.

Iusk m¥n8g¢rnent The TrLislees liaiie idenlified the risks to wl)icli Ilie iliai'ily is e.xposed and &55e55cd tlieir consequential iinpJEt on Il)e fin2£ ncial aciivtty of the cliarity. The level of Tisk assessed has not Gligiiued since Ilie piEvious yeai. Tli¢ Tiuslees arc sarisficd that the iie¢e55ary systems are in place to miligaie the charity's exposure lo those risks. On behalf of ilie Ttu$tees g i OML S E Clifford Bowle5 18 Nove￿bE[ 2025

IINiifi'LI N'DLN'I. Tr'.KA*I IIN'r.ii'.% 111,'i)01{'I I'(I 'I'IIL-I'IIII.%'l'b-14 S 01. I'IIL II'IIIN'b'l."I.I. CHAIII-I'ABLE ruh'D Cliarilics Act 2011 I'ilie Acl'l. the Act. Indtpelld¢iit e.ianiincr s &tateineiJl ii'tth Ilie Finaiicial Reporiing btaiidard r1ppIicElble in Ilie UK aiid Repiiblic OF Irelund IFRS1021 til prLfercncL lo Ilie Ilie eAtL2lIt irgiilaiioiis bill ha5 since b¢en withdraivn. DAV￿ L4urfERIVOR-r14 fcA Ivr aiid oil l?eliaifof Wheiiir511 & budii'orih Limited 35 Wc51g?aie HDI IPA 18 Noveinber 2025

'Iir. ii'HI_N'I,'I.:I,I. C-14.4lll'l'klllLE E.'UJN'I) b-r ATlh,IF,N I. ()Tr' I,'IN.,KNCIAL AC'I-iiii'fii4 5 r Lniled 31 JAWAIIY 20?% 9024 Uni-c%lriLtcd Uiii'esti'ieted 'ote lllcotne ttnd endoiimAciit5 fi-oni.. 144,528 ?50.000 118 ?16 Le¥ac} I'olryi l itJcDJi)e eTrdihi*RIL'nls -194,528 118,?16 Exi)endituri' on: Ising fuiids Chai'ilable acliviDL 133,0081 1154, j44) {?9,795) 1153,9.11) 11 %3.7761 2116 lJ76 I'tAI' 879,74S 397.?77 N'et IRLUniC I ILILfiLLtI and cl n)oTr'emeiit iii I'unds 1.086.771 351.767 Recuncili4ltion of funds: -roiJl lundy br￿U￿h1 IoLIVL?Id 6.464,189 6,112,6?2 l oti?] funds carried fot-ii'Rrd 10 7,5il,160 6,464,389 All income and txpendiLLiie detive From continuing activities. The Iioies on PilkTes 9 to 13 FO￿ part uf Ihese finantiELI 51atcineiiis.

THC WHINifEI LL CHARITABLF FIIND BAI.hJYCE SHICEI"r 31 JANUARY 2025 2025 2024 Note5 Fixcd Asset illve5tm¢nts 7 Quoted 7,308,450 6,453.855 Curi'ent Ns¥ets Debtors Cash al b&i 13,166 1.041 247,588 247,588 14,207 Creditors: a￿DU￿t5 fglling due iYiÉliiTh one year (4,878) (3,6731 Net ciirreDt assets 242,710 10,534 TDtal net a55QtS 7.551.160 (),464,389 Charity ffunds 10 UJirLslricied fviids 7.551,160 (1,464.389 Tot81 chBrity funds 7,551,160 6,464,389 The financial 514iemrDts were approved and llulhotised for isslle by the Trustres and signed on th¥ir behalf oi? 18 Novell)bcr 2025.. £L CÉWI <LLU S E CliffDtd Bowles Trustee The note5 on pages 9 10 13 fomi part of these Iinencial statetnents.

JI'H I￿,￿ LLI, CII.4IIII',IBLI,: I",UIYD Nl)'I'C,S 1-0 I-FIF" I". INAN'(.'1.41. S'I'A'I'[.'￿,1Il N'fb 31 J.￿N,[i.￿R Y 2024 Thg Ttusi il-as Lr¢ai¢d nd ¢()nlinLiC5 lo be giJvtfiiid b). Ll Inisl d￿ed daied 3 Dcceinber 1971. The Tnisi is a regibttred c111tilS', iiiiinber ?671.13 Jiid is lÉ 150 subjEcI to Ilie ieuiilaiions r)l- IliE Chcirily C,nintnis5ioii. The address of tlie Ttusl 15 J5 H'est(Jilte. l-luddeJsFILld, HD I I PA. .qiimmoi'v (If significant aCCOLlI]tlllQ policies Geiieral i11fo￿natIon a¥id basis of preparalion Tlic cliJrity ci>iislituiea a public bellefil elllity as dLfiiied bs, FR.S I O? Tlie 1indncl￿ll SlillL'iiieni% hiTrve beeii prei)ared iii accordLince ii'Tili AccoLinl1n￿ and Repoi'iing bj, C.h1c riltes,. Stlc ieiiieni of RecoDimeiided PiaLlice appliL, Repoi-liiicp Siaiid.Ird LippIiclL ble iii tlii Uiiiied Ikincrdvin Ltncl Repiiblic i?r Ireljiiid IFIIS I O?), IhL Ch1titiLs Aci ?011, iiid UK Geneinlly Acuepred Priiciice L2S Il il)plies fron) l Jaiiiiar) 2019. Fil￿￿ clives or the charity and wlTrich have not been desi¥tnaLed fur oiher puq)oses. Inc0￿C i'ccottnilion entiiled lo tlie illCQlllL dfter ciny peili)rtLianLL condiiinns hJve been mel. rlie ainounl cali bc nica511red IcliLibly aiid li is probable Ilial Ihe income will be received. IIip¥Stment income 15 eaingd Ihrough liolding as5els tor iiivestmertl pUTpo￿e5 such <75 5hAres and bDnds. li inrludes divideiids and interest, li is inLluded ivlien Ihe anioiinl can bc mcasiiiEd reli£ibl)'. Interest and dividend inconTre is recognised &% tlie chai'ity's I'jiFlil Lo reccive payjnent 15 e5talilished.

'IIL II'FIINI4 LI.L Cllpllll-I'IlLILL I,-LIIND IX'()-I'LS TO 1'14L rili.&knl'CI.41. STA TEI P+'if,.'N'rs 31 JANU.4RI' 20?4 ALCI)uTrli￿l) poIicic5 {CUEltiniJe(l} Fxpenditui't i'crogiiition All expeiidifui'e is ic croiiiitLd for oil n Ic ccl'iials bi?sis And Ilas been cl<ibsifird uiidei IIcLidiiios tli.Il c1g7nregydp ie all cosis i'elalLd io tlie CalLLrot)'. Lxpeiidiriiie is recognised ivhLre tIILI'e is u or coiisli'uLiive oblit)atiun lo rnake be Iiiea5111ed reliably. Li is Liiie¥oiised iiiider the followinLi Iie8di51gs-. Co%is (If rai5iiiu funds iiicliide.s investineiTrl co_El8,' ExpLndiELli'e oji cl)£lri14hle aLlii'ili¢5 is Ilie Pi4 ymeRI of grants ro Ihe charily's beneliLiqiies. Iriecoverable I'AI- is ch.2rged as expeiise 1¢ ITal￿St Ilie acliviiy lor ii,hicli expenditiire ai'ose. Graiils p<1y￿1bl¢ to tliiid parties o?re iviiliin tlTrt cli2£ riiablL ubjeclii'eè. Il'here iincoiTrdiiioi)al griÉ nis al'e ol-lereLI. Iht5e arE reroriniseil as 5011n E15 Ihe rtyLlPILlIt ib nolified of Llic ¥ranl, a.% tliis tvives rise lo a re￿5011￿1]17e expectaiion tliat bfilaiiit 5hecL dali. .-11ue cali i>ih¢iii ise be n)Ldsiif¢d rLII?I bly. Jlcblor's 4iid eredltors recei%'g1)l¢ I pa)'ablc ￿1th1n one )'e421' Debioi-5 <iiicI CFidilc)1s Wltli 110 blaltd inleie%l ial¢ and I'eccivable or Piydblc lviiliin oiie yLai' are reeorded al Iran&ryclion price. Ans.. losses ll￿$7￿g froin inipqimiei)t ttre recoonised in e.xpendirLire. Pi'ovisioii& estin)at¢d. ioreigll clli'rL'neJ' Foi'eign ciirr=nLy IraRsaciions &rc initially reeogni.Eed by applying lo Ilie foreibTn cutrciicy Liillounl Ilie spot exchiinge ralc between ftinctjolliil Ciirreiicy and the torei41i curreiicy ai Ilie date of the Iransaclion. Mi)nclary f?ssels qnd liabilities denoniinilted in a foiEiDll cutrencj at Ihe balance 51ieet dale Jre Iran51ated u.%i1ig die closing rate. Taiylion The cliirity 1.% an exei?ii)I ch11 riiy ii'iiliin die nie2£ ning of 5cliedule B of the ClTrarities Act 2011.

TIIE Il'HlINf.Ei LL C14IKRITpKBLE fiiiND NOTf.s 'i'c) I'H r. rill ':IliC'.IAI..S'I',ITI:, fvfEYr,% -11 JAh'UIUiI' 2025 InLUInC Iron) inTr'L&lmLnls 20?5 2024 Iiiconie froiii quoted investinenis 142,280 2,?48 144,5?8 138,?16 20?5 3?,772 236 ?9.Ilj 6S? DeFicil oli foiEirtii ciitreiicy e.KchEiiigJe ?1),79 J ?n?4 Adininlsii-ati￿e eApen5e5 Other pi'ofEssioiilll fee Distribuiioiis lo chf2rities 50 600 150,000 SQ l )O.000 l i4,544 153,9-, Ti'iistee5' and liE)' mallagement pei-sonnel rc]nunerutioTi llnd eXPLnSC5 'l-lie Irustees Iieiilier re¢¢ived nor ivaii'ed any reiJiuneiaiioii duriiiii Ilie yeai'120?4.- L Nill. The Inistces did nnt hai'E any exi?en.%es reiiiibuised diiring rlie yenr120?4 .. £ Nill. The cliai-ily h￿1￿ 110 eiiiplDyeL'S 111 Ilie Iliis or Ihe pi-ivT year.

'I'FII". II'HIliI.'I,'I.I. CI IAIIII'IIBLI,: f4 UND ,NOTTr:S TO TFIL I."IN..IliC.'IkKI. S'l'tl-l'bli lJ-, IN'IS 31 J,IfyUAIII' 2112£ rixiid as5el ini'e.slmeiil.s 20?4 2024 lat'kei VLIILie al l Febru4iry 20?4 Addiiioi)s tu iiii'estiiienls at cost Disposals al e£TrfryiDfT V¢11ue 6.453.855 1.856,179 11,765.05?) 763,468 6.04S.39() 983,418 1971.6?0) 39J,661 N,lic rlcel valuL ai.31 Jaiiuury 2025 7,308.450 6.4_$3,855 All li.xecl asbLI invesljnenls ari listed. Net gaiiis on ini'esliiiLnls re Inade Llp ur.. 7()3,4(18 -397.?7 1 DLI)toi-s ?0:. 5 20?4 Inl'esimenl cl￿ pili£ I litld by investmeni niatiaqer Ci'L.ditoi'. ?025 2024 Acciua15 Diie ro investinent illanager 3,784 1,094 3,673 4,878 3,673

IIIFI IN'D'I,:I,I, CIIARI'I'ABLE,: fuND 0l'I1.4'1'1) I'FlI=, fiiN.4NCI,IL ST¢lTf,N.IENT,S I I JAN(IAIII' 2025 10 riind rL'eoDLiliation UnrL'%lI'icte(I funi15 Ilolaiiee at 11 Jiinuai-)' I rcliru?& ri. 2024 -ipeJiditui-e iiji'osrnieuts Unrc51rict¢d hinds 6,464.389 394.528 1 I87,5i21 879,795 7,551.160 Unrestricted lunds ThL gLnLI'i< I tLiiids of Ilie Lhariiy art Ii i'ailable 10 be dibli'ibiiled at the discietion of Ilie Irusiees in furtlieranLe ul.