Man Group plc Charitable Trust Annual Report and Financlal Statements 31 December 2024 Charbly Registration Numb 275388
Contènts Reports Reference and adminislralive information Trustees, annual report Trustees. responsibilitie5 Stalernent Independent auditor's report Financlal statements Statement of financlal aclivifjes 13 Balance sheet 14 Statement of cash flows 15 Notes lo the finanaal slalements 16 App•ndix Charitable donatlons 21 Man Group plc Chadtable Trust 1
Referttn and administratlw Information Trusttss Lydia Bosworth (resigned 22 August 20241 Amanda Cowles Steven Desmyler (Chairl Keith Haydon {rèsigned 21 February 2025} Angus Jacobs Abby King Christopher Pyper Carol Ward (resigned 10 February 20241 Rachel Watars Trust Secretary Joshua Fudonger Princlpal office Riverbank House 2 Swan Lane London EC4R 3AD Charity registration number 275386 Independent Audttors Deloitte LLP 2 New Slr88t Square London EC4A 3BZ Bankers Lloyds Bank Financial Institutions 10 Gresham Str8et London EC2V 7AE Man Group pl¢ Charitable Trust 2
Trustees. Annual Report Year to 31 December 2024 Tha Trustees present their slalulory report with the financial statements of Man Group plc Charitsble Trust (the 'Trusl'l for the year ended 31 December 2024. The accounts have been prepared in accordance with the accounting policies set out on pages 16 to 18 of the attached accounts and comply with the Trust's Trust Deed, tho Charities Act 2011 and Accounting and Reporting by Charities.. Slalement of Recommended Practi I'SORP.) applicable to charilias preparing their accounts in a¢¢ordance with the Financial Reporting Standard applicable in the Unitèd lfjngdom and Rapublic of Ireland {FRS 102). Objectivos and activities Prin¢iTpal aims and"gbjectives The Trust is a philanthropic trust funded by Man Group plc. The relationslilp between the Tnjst and Man Group plc is described wthin the 'Governance, structure and management, section of the Trustees, Annual Report below. The purpose of the Trust is to apply such donations received for such charrtable purws6S as the Trustees may in their absolute diretIOn determine as prescribed in the Trust Deed. Thè main activities undertaken in relation lo those purposès are described below under 'Grant making policy,. When setting tho objectives and planning the work of the Trust for the year, the Trustaas give careful consideratson lo the Charity Comlnission's general guidance on public benefit. Grant makln9 policy The Trust focuses on educatlon programmes that support disadvantaged people to build the necessary vital life skills to Improve life chances and employm9nl prospects. The interest and involvement of employees of Man Group plc and its subsidiarie5 Ilhe 'Group'l is also considered. The Trust is intèrested in finding out about volunteering opportunitEs bul will not give preferential considerations to or9anisalions or projects providing such opportun((ies. The recipl8nl ¢harilies should be able to demonstrate sound financlal management. The Trust dS not look favOUrab on those Charie$ whose administration costs are excessive in relation to the service they provide. Th8 Trust prefers to concentrate its support on smaller charfties where its donations make a material drfferenee and where it can work in partnership with charities that are less likely to obtain support from the g8neral public. The Trust consders applications peThodically throughout the year. Man Group plc Charitable Trust 3
Trustees. Annual R¥port Year to 310g¢ember 2024 Achievements and perfomianca Revlew of the year In 2024, the Trust Conntrated its granl-making 8¢tlty on lileraey, numeracy and education programmes. We h8ve continued lo provide support that goes above and beyond our financial contributions to those charTties we have funded. Each charity is assigned a lead Trustee who establishes a relatlonship and provldes mentoring, sUPPOrted by the Group's employees, who provide pro bono advice and guidance as required. The Group'$ employees have éngaged in in-person and virtual events, fundraisefs and training sesslons for many of the charities the Trust supports. Employee participation In addttion lo its grant-making aCtTty, the Trust also provide5 PPPOrtunrties for the Group's employees to invest Ih8ir time and expértise in charitable activities. The Trust will match, up to an agreed limit, charitable contributions that employaes make lo any UK registered charity. via the Trijsl's Sponsorship matching and Give As You Earn schemes. The Group's communty volunteering programme. ManKind, allows its 8mployees an additional days paid leave per annum to volunteer eithgr wilh a charity of their choice or with one of ihe charities cu¥rently supported by the Trust. Finan¢lal r8vl•w and resems policy Results for the year The results for tho year can be found on pages 13 to 15 of this report and financial stalemenls. During the yeaT ended 31 December 2024, total income amounted lo £333,792 12023.. £112,624). Income comprises donations received from the Group, which vary year on year. The Trust m8de donations to institutions lolalling £964,759 12023.. £951.8351, in¢ludlng donation of £150,000 12023". £150,0001 lo the Man US Charitable Foundation, a philanthropic foundation establlshgd in the US in 2019 by Man Group plc. In addllSon, the Trust incurrad govemance costs of £21,39012023.' £13,850). Governance costs include audit fees and other professional fees (Note 41. Th8 net loss before other recognised gains and losses for the year was £652,357 {2023-. £853.0611. The balance sheet shows total fund5 of £910,206 12023-. £1,562,563) all of which are unreslricléd. The Trust had donation commttsnents of £50,000 as at 31 Decombor 2024 (2023.. £100.000) (Note 101. The Trustees consider that th8 level of free rèseNes meets the Trust's reserves policy and they therefore consider free reserves lo be adequate bul not excessive. The reserves total sustsins and supports levels of donations from incomè. which the Trustees would wsh to maintain over time. Man GTOUP plc Charilablo Trust 4
Trust•è5' Annual Report Yaar lo 31 December 2024 Financial revlwAY and reserves polley Iconlinuedl Rgsgrves policy The Trustees seek lo optimise the amount of charitable donations and forward commitmènts paid during the year. The Trust's ultimate aim is to ensure reserves remain positive and therefore the Trustees ensurg they take a prudent approach when approving charitable donations and forward commitments. Charitable donalions and forward commiimenls are only approved lo the extent they are covered by existing levels of reserves. Thè Trust's govemance costs remain low as they are limitgd to ongoing professional fees, primarily statutory audtt fees and oth8r ad hoc advice. Any inwming resourcès not paid out or aUmUlated interest reprosents the reseryes of the Trust. The Truslees review the resetves policy of the Trust on an annual basis. Ourplans fornext yèar Tho Trust will utilise its ieserves lo continuè ils grant%iving programme and suppK)rt to 8mployee engagement prograrnmes over the next three years. Our focus for 2025 is to continue to build on our grant-making support to gdiJ¢alion programmes that support disadvantaggd people to build the necessary vital life skills lo improve life chances and employment prospects. We will also continue to develop further areas where the Group's employees can use their lime and skills to add value in addition to the financial assistance provided by the Trust through its grants. We plan to continue to engage with the Group in èncouraging its employees lo volunteèr and rnake a positiva and maaningful contribution to the communities we are part of. Gov•rnance. structuro and management Govemance The Trust is govemed by a Trust Deed dated 11 January 1978, a Deed of Amendment dated 5 July 2016. and resolutions of the Trustees pursuant to section 280 of the Charities Act 2011 {the 'A¢t°I dated 17 May 2021. The Trust is règistered under Ihe Charities Act 2011, Charity Rogistration Numbar 275386. The power lo appoint new TrLJStees rests solaly wth the existing Trustees. Man Group plc has no authority to appolnl the Trustees and Is therefore not a related party of the Trust. The names of tho Trustees who soN8d during the year are sgt out wlhin the refèrence and administrativg information on page 2 of this Annual Report. Th8 composition of the Trust is an ongoing ¢onsideration, mindful of the term limits binding the Truslges. as well as their skills, experience and diversity in response to changing neads of the Trust. Man Group plc Charitable Trust 5
Trustg05' Annual Rèport Year to 31 December 2024 Governance, structure and management Icontinuedl Governancè (continuedj On appointment as a Trustee of th8 Trust, the Trustees a thoroughly briefed by the Trust Secratary on the history of the Trust, the day-Io-d3y management, the responsibilities of the Trustees, the current objectives and future plans. The Trust8ès are also encouraged to attend any courses which they feel are relevant to the development of their rol@, and lo keep uptrpdate on any changes in legislation. The Truslees have complièd with their duty in section 11 of th8 Charfes Act 201110 have rÉg8rd to guidance publlshed by the Ch8rity Commi%slon. Organlsalional structurè and decision making The Trustees are ultimately responsible for the policiès, activities and assets of the TnJsl. They havo perfodic meetings 8t which policy matters are considered and individual donations 8re decided upon, In addition lo ad hoc meetings to consid8r donations and other matters as and when considered appropriate. The day-to-day management of the Trust is the responsibilty of the Trustees and other 8mployees of the Group. The Trust allocates the funding it receives from Man Group plc, and any other ad hoc donations it may receive from time lo lime. across the varioijs charities il supports. The Trust's a¢tSvkies are also detsiled in the Man Group plc 2024 Annual Report. The narne5 of the Trustees who Served during the year are set out within the referen and administrats've information on page 2 of this Annual Rewt. Key managementyrsonnel The Trustees aré considered lo be the Trust's key managèment personnel as they have authority and r8sponsibility for planning, dirocling and controlling the Trust's activities. None ol the Trustees received remuneration in r8spact of th8ir services as a Trustee durfng the year12023- NIL). Risk management The Trustees have assessed the major risks lo which the Trust is exposed are Satisfied systems and processes are In place to milKJate exposure to these risks. Annually the Trustees conduct a r8view of the risk register. The principal risks which the Trustees managed during 2024 include.. InsuffiCt ovgrsighl of ProsseS and controls. Th8 Trust does not 8mploy dedicated staff, being managed by the Trustees and supported by volunteer employees of the Group. Processes and procedures are in place for assessing grant applicants and for day-to-day management of the Trust. The management model is reviewed and mDnilored on an ongoing basis to determine whether additional resourcing is requir8d. The Trustees and Trust Secretary re¢elv8 periodic legal and regulatory updates from independent advisors. Man Group plc Charitable Trust 6
Trustèès. Annual R•port Year to 31 Dember 2024 Governaneè, $tru¢ture and managèment Icontinuedl Rlsk management (continued) Dèpendency on the Group for funding. Reserves of the Trust are maintained at a healthy level. Forward commitments are inclLJded in financial projections. with a limited number and value of multi-year grants being made. Financial fraLJd and misappropriation of assets. All p8yments from the Trust's bank account require two Truslee signalureslapprovals. As the Trust is funded by Man Group plc, the longer-lem success and suslainabilily of the Trust is dependent on that of the Group. The dire¢lors of Man Group pl¢ believe that there continues lo be robust global demand for asset management fimis, such as Man Group. The Group's operating arrangements, including access lo capitsl 8nd liquidity, are subject to ongoing review by the Group's directors and senior management. This includes assessment of company-sp8¢ific factors and of the Group's medium-term financial plan and capital and liquidity plan, which 8re built by aggregating the axpecled business Performance across the Group and include rigorous downside scenario testing. The Group continues to have a strong cash and capitsl position, and its business typically has a good conversion of profits into cash flows. which helps protect the business in str8ssed scenarios. Further details of the financial. liquidity and capital positions of the Group Can be found in the Group's 2024 Annual Report. Signed n behalf of the Trustees.. Steven Desmyter, Chair Approved by the Trustees on.. 25 June 2025 Man Group plc Charitsble Trust 7
Tru$t8es' responsibllltl•s statgmont Ygar to 31 December 2024 The Trustees ar8 responsible for preparing the Trustees, Report and th8 financsal statements In accordance with applicable law and United Kingdom Accounting Standards {Unitèd Kingdom Generally Accepted Accounting Pr8Cticel including FRS102 'Th8 Financial Reporting Standard applicabla in the UK and Republic of Irèland.. The law applicable lo ¢harVties in England and Wales rgquires the Iruslees to prepare financial statements for each financlal year which giv8 2 true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In pr8paring these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consislenlly.. observe the methods and principles in the Charities.. SORP- make judgements and eslim8tes that are reasonable and prudenl.. state whether applicable A¢counling Stsndards have been followed, subject to any material departures dis¢losed and explained in the financial stalemenls., and prepare the financial statements on the going concern basis unless it is inappropriate to prgsume that the charity will continue in operation. The Trust66s are responsib18 for keeping proper accounting reccsrds that disdose with reasonable accuracy at any time the finan¢ial position of the charity and enable them to ensur8 that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of th8 Trust's trust de8d. They are 8150 responsible for safeguarding the assets of the charity and hence for taking reasonable s19ps for the pVentIOn and detection of fraud and othgr irregularities. The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissernination of financial ststemenls may drffer from legisl*lon in otherjurisdiGtions. Signed on beh8lf (rf the Truslee5'. steven Dgsmyter, Chair Approved by th¢ Trustees on.. 25 June 2025 Man Group plc Charitable Trust
In(lependent Audltorfs Report to the Tru$tgas of Man Group plc Charitable Trust 31 Decembèr 2024 Report on the Judlt of the finan¢lal statements Opinion In our opinion the financial statements of Man Group PIC Charitable Trust (the Trust'l.. give a true and fair view of the slate of the Trust's affairs as al 31 Qecember 2024 an(1 of its incoming resources and application of resources for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporbng Standard applicable in the UK and Republic of Ireland and have been prepared in accordance with the Charities Act 2011 and the tnjst deed. We have auditèd the financial slatamenls which comprise.. the statèment of financial activities., the balance sheet.. the statement of cash flows,. and the Telated notes 1 10 10. The financial reporting framework that has been applied in their preparation is applicable law and Unitad Kingdom Accounting Standards, including Financi81 Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (Unrted Kingdom Ggneralty Acceptad Accounting Praclicel. Basis for opinlon We conducted our audit in accordance with International Standards on Auditing (UK) IISAS {UK}l and applicable law. Our responsibilibes under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We arè independent of the Trvsl in accordan¢8 with thg ethical requirements that ara relevant to our audit of the financial statements in the UK, including the Financial Reporting Council's (the 'FRC's') Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wth these requirements. We believe that the audit evldence we have obtained is sufficient and appropriate to provide 8 basis for our opinion. Conclusions relating to going concgrn In audib'ng the financial statements. we have concluded that the trustees. use of the going concem basis of accounting in the preparation of the financial 51alemenls is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events.or conditions that. indwidually or colledively, may cast significant doubt on Trust's abilty lo continue as a going concem for a period of al least 1ve months from when the financial statem9nts are authorisad for issue. Our rasponsibilities and the responsibilth'es of the trustee5 with raspecl to going concem are described in the relevant sections of this report. Man GfOUP plc Charilabla Trust
Indopondent Auditor's Raport to the Trustws of Man Group plc Charitsble Trust 31 December 2024 otherlnformation The other information comprises thè information included in the annual report, other than the financial 31atements and our audvcoff s report IheTeon. The tru51ees are responsible for the other information contained within the annual report. Our opinlon on the financial statements does not cover the other infomatlon and we do not express any fomi of assurance Conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistenl with the financial slalerHents or our knowledge obtained in the course of the audit, or othenKise appears to be materially misstated. If wg identify such material inconsistencies or apparent material misslalemgnts, we are reqLJired to determine whethaf this gives rise to a materi81 misstatement in the linanrAal statements themselves. If, based on the work we have perfomed, we conclude that there is a material misstatement of this other information, we are requir8d to report that fact. We have nothing to report in this regard. Responsibilhles of lrnstees As explained more fully in the trustees, responsibilities statement, 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 inte¥nal control as the trusleos determine is necèssary lo enable the preparation of flnancial slalements that are free from material mlssiatemenl, whglh8r due to fraud or orror. In pparIng the financial 51alements, the trustees are responsible for assessing the Trust's abilty to conllnue as a going ¢oncem, disclu5ing, as applicable, maiters related to going concem and Ljsing the going conrn basis of accounting unless the trustees eilh8r intend lo liquidate the Trust or lo cease operations, or have no realistic altemative but lo do so. Auditor's responsibilities for the audll ol the financl8lstatements We have been appointed as auditor under section 145 of the Charities Act 2011 and report In accordance with tha Act and relev8nt regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whglher the finanryal statements as a whole are free from material misslalement. whether due to fraud or error, and to issue an audilovs 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 aayS dgtect a material misstatement when it exists. Misstatements can arise from fraud or eTror and are considered material if, individually or in the aggr8gate, they ¢ould reasonab be expected to influence th8 economic décisions of users taken on Ihg basis of these financi81 statements. A further descriptlon of our responsibilit¢es for the 8udit of the financial statements is located on the FRC's website at.. www.frc.ory.ukjaudrtorsresponsibililies. This description forms part of our auditor's report. Man Group plc Charitsble Trust 10
Independent AudIt0¥ Report to th• Trustees of Man Group plc Charitable Trust 31 December 2024 Extent to whl¢h the audit was ¢onsidered capablè of detecting irregularit1è4 in¢luding fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedur9s in line wth our rosponsibilities, outlined above, to detect materlal misslatemenls in respect of irregularities. including fraud. The axtenl to which our procedures are capable of dotecling irregularities, including fraud is detailed bolow. We cOnsided the nature of the Trust's industry and ils control environment, and reviewed the Trust's documentation of their policies and procedures relating to fraud and compliance with laws and regulations. Wè also enquired of management and the Irusteas about their own idenllfi¢81ion and assessment of the risks of irregularities, including thosè that are specnlc to the Tru51'5 business s&¢tor. We obtained an understanding of the legal and ragulalory framework that the Trust operates in. and identified the key laws and regulations that.. had a direct effect on the determination of material amounts and disclosures in the finanelal stalemenls. These included Trust Deed. Charities Act 2011 and Chartties (Accounts and Reports) Regulations 2008., and do not have a direcl effect on Ihts financial slatemenls bul compliance with whlch may be fundamental lo the Trust's ability to operate or to avoid a material penalty. This included the Charity ComMissn regulations. We discussed among the audit 8ngagement team regarding the opportunitles and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements. In common with all audlts under ISAS IUKI, we are also required to perform specific procedures lo respond to the risk of management override. In addressing thè risk of fraud through management override of Controls, we tested thè appropriateness of journal entries and oth8r adjuslmenls,. assessgd whether the judgements made in making a¢¢ounb'ng estimates a indicative of a potèntial bias., and avaluatèd the business rationalg of any significant transactions that are unusual or outside the nomal course of business. In addition lo the above, our prOdureS to respond lo the risks idenlifie(l included the following.. reviewng financial statement disdosures by testlng Its supporting doeumèntslion lo assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial slalements., perfoming analytical procedures lo identify any unusual or unaxpocted relationships th81 may indicate risks of rnalerial misstatemènt due lo fraud,. enquiring of management and in-house legal counsel concerning actual and potential litigation and claims, and Instances of non-compliance Nkilh laws and Tegulalions., and reading minutes of meetings ofthose charged with govemance. Man Group pl¢ Charitable Trust 11
Independent Auditor's Report to the Trustees of Man Group pl¢ Charltable Trust 31 Decernb8r 2024 Roport on other legal and regulatory requirements Matter$ on which we 8re required to report by exception Under the Charities (Accounts and Reports) Regulations 2008 we are required to report in respect of the following matters if. in our opinion.. tho informats'on given in the financial statements is inconsislenl in any material respect with the tru$lees' report, or sufficient accounting records have not been kept-, or the financial statements are not in agreement with the accounting rècords and returns., or we have not r8ceived all the infomiation and explanations we require for our audit. We have nothing to report in respgct of these matters. Use of our report This report is made solely lo the Trust's Iruslees, as a body, in accordance urith Part 4 of the Charities (Accounts and Reports) Regulab'ons 2008. Our audit WO has been undertaken so that we might state lo the Trust's trustees those matter5 we are required to state lo them in an auditorfs report and for no other purpose. To the fullest extent permilled by law, we do not accept or assume responsibility to anyone other than the Trust and the Trust's Iru5tees as a body. for our audit work, for this report, or for the opinigns we have fom)ed. Deloitte LLP Statutory Auditor London. Unrted Kingdom 25 June 2025 Deloittè LLP is eligible for appointment as auditor for the Trust by virtue of its eligibllity for appointment as audit of a company undar section 1212 of the Companies Act 2006. Man Group plc Charitablè Trust 12
Statement of financial act1v1t1 31 December 2024 2024 2023 Notes Incom8 and expendilurn Income from: Don8lions 88nk interest Total income 324,850 8.942 333.792 112,624 112,624 Expènditure on: Gharitable activitles Tatal expenditure 986,149 986,149 965,685 965,685 Net movement In tunds 1652.3571 1853,0611 R•¢onciliation of funds= Total funds brought forward at start of year Total funds carried forward al end of year 1,562,563 2,415,624 910,206 1,562,563 All of the Trust's activiti85 derived from continuing operations durlng the above financial periods. All gains and losses recognised in thg year are includgd In the above statem8nt of financAal actNities. Ther& is no difference betwagn the net movement in funds as statad above and its historical cost equivalent. The accompanying notes on pages 16 to 20 frArm an integral part of the financial stslements. Man Group plc Charftable Trust 13
Balance sheet 31 December 2024 2024 2024 2023 2023 Notes Current A55ets Cash at bank Investments Accrued income 796,316 600,000 8,942 1,405,2S8 2,021.923 2.021,923 Current liabilitlOS Cr8dttors'. amounts f811ing due within one year 1495.0521 1459,3601 Net current assets 910.206 1,562,563 Total net assets 910,206 1,562,563 The funds of the chadty.. Unrestricted incoffle funds 910,206 1,562,563 The accompanying notes on pages 16 to 20 form an integral part of the financial Statements. Approved by the Trustees and signeLI on their behaff by.. Stèven Desmyter, Chair Approved on: 25 Jun8 2025 Man Group plc Charitable Trust 14
Statement of cash flows 31 December 2024 2024 2023 Notes Cash flow$ Irom oporating aclivltles= Net cash usgd in operating actiwlies 625,607 532,970 Cash flows from investing activities- Purchase ol inve$tm8nt5 600,000 Change In cash and ¢ash equivalents In the year 11.225,6071 1532,9701 Cash and cash equrvalents at the beglnning of the year 2,021,923 2,554,893 Cash and cash equivalents at the •nd of the 796,316 2.021,923 Notes to tho 8tatemgnt of cash fiows for the year to 31 December 2024 A Reconclllatlon of net movement in funds to ngt cash usod In operating actlvltles 2024 2023 Net movemènt In fund8 las pèr the 8tat8ment of financial aCvities) Adlustsnents for. Accrued income Decr885e In debtors IDecreaseyincre85e in creditors 1652,3571 1853.0611 18,9421 300,000 20,091 35,692 Net cash used In o eratln aetlvltle 625 607 532,970 B Analysls of cash and cash equlYal8nts 2024 2023 Cash at bank Total cosh and cash equivalerrts 796.316 796,316 2.021.923 2,021,923 The accompanyng notes on pages 16 to 20 form an integral part of the financial statements. Man Group plc Charitable Trust 15
Notts to the Financial Ststements 31 December 2024 1 Accounting poli¢ies 1.1. 8asi$ oAaccounting The financial statements have been prepared under the historical cost convention wth items initially recognised at cost or transaction value unless otherwise statèd in the relevant accounting pdicy notelsl. The financlal statements have been prepared In accordance with Accounting and Reporting by Charities.. Statemant of Recommended Practice applicable lo charities preparing their accounts In accordance wlth the Financial Raporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP FRS 1021 issued in October 2019, Update Bulltslin 1 issued on 2 F8brLJary 2016, Update Bulletin 2 issued on 6 October 2018, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Chafilies Act 2011. The Trust constr(utes a publi¢ benefit entity as defined by FRS 102 and is an unin¢orporated charity. The accounts are presented in sleding and are rounded lo the nearest pound. 1.2 Crltical aGcountirt9 •Stimates and aréas ofjudgement The Trustees are required lo make judgements, eslimales and assumptions about the ¢arrying amounts of assets and liabilitiès that are not readily apparent from other sources. The estimates and assClated assumptions are bastrd on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. Rgvisions to accounung estimates are r8¢ognised in the pèriod in which the estimate is rèvised il the revision affects only that period, or in the period of the revislon and future periods if the rovison affects both current and future periods. The Trustèès have determinèd that there are no significant areas of judgement or accounting esllmates that have a material impact on the financial sla19ments. 1.3 Income recognition Income is recognised in the period in whkch the Trust has entf(lement to the income, the amount of income can be measurèd reliably, and it is probable that the income will be received. Ineome comprises donations. Deferred income is recognisad in the ftnancial statements in the pericxj in which It is earned. Man Group pl¢ Charitable Trust 16
Not¢$ to the Financlal Statements 31 December 2024 l Accountlng poll¢l¢$ Icontinuedl 1.3 Income recognition (contirtuèd) Donali(>ns are recognised when the Trust has confirmation of both the amount and settl6ment dale. In the avènl of donations pledged but not received, the amount is accrued for where the receipt is considered probab. In thè event that a donation is subjact lo conditions that require a level of perfomian¢e before the Trust is entitled to the funds, the income is deferrèd and not recognised until either those conditions arg fully met, or the fulfilment of those conditions is wholly within the control of the Trust. and il is probable that those conditions will be fulfilled in the reporting period. 1.4 Expenditure recognltlon Liabilities are recognised as expenditure as soon as Ih9re is a legal or conslwclive obligation committing the Trust lo make a payment to a third party, il is probablè that a transfèr of economic benafits wlll be required in seltlgment and the amount of the obligation ¢8n be measured reliably. AFI expenditure is accounted for on an a¢cruals basis. Accruals are recognisèd in the financial statements in the perTod in which they are incurred. ExpandSturg eompri5es direct costs and support costs. Donations payable comprise amounts payable in supporting Charities and the cost of administering tha donation programme. The Trust focuses on education programmes that support disadvantsged people to build the necessary vital life skills lo improve life ¢hances and employmerrt prospects. Donations payable are included in the 51alement of financial activiti8s when approved and when the intended reciplenl has either r8ceived the fvnds or been informed of the decision lo make the donation and has satisfied all related conditions. Donations approved bul not paid at the end of the financial year are accruad for. Donations for which the benefioary has not been informed or has lo meet certain conditions before the donats'on is released are not accruèd for bul are not as financial Commitments in the notes to the finan¢lal stat6menls. 1.5 Allocation of support costs Support costs represonl indirect charitabl8 8xpendilure and include gOV¢man costs. Governance costs comprise the costs involving the public accountability of the Trust {including audit costs} an¢J costs in respect to Its compliance with regulation and good practice. Support costs are allocated lo the Trust's single charitable activity. 1.6. Unrestricted funds The unrestricted fLJnds represent funds available for the general Charable purposes of the Trust at the discr81ion of the Trustees. Man Group plc Charftablg Trust 17
Noto$ to th• Financial Statements 31 De¢ember 2024 1 Accounting policies Icontinuod) 1.7 Going concern Aftèr making reasonable enquides the Trustees have condud8d that there is a reasonable expectation that the Trust will have adequate resouros lo continue in operational existence for a pariod of at least twelve OnthS from the date of approval of the financial ststémenls. Accordingly, the fjnancial sta16ments have been prepared on a going concern basis. 1.8 Cash at bank Cash al bank represents such accounts and Instruments that are available on demand or have a maturity of lèss than three months from the date of acqulsition. 2 Donation In¢om• 2024 2023 Man Group plc Other donations 324,850 72,624 40.000 112,624 324.850 3 Charltabl& expenditure 2024 2023 Charitable donations Employee sponsorship matching Employee GAYE matching 912,512 24,947 27.300 964,759 21,390 986,149 897,010 25.825 29.000 951,835 13,850 965,685 Support costs (note 41 A list of the donations approved by the Trust during the year is included in the attached Appendix. The employee sponsorship and GAYE matching amounts relate to employees of Man Group plc, as the Trust does not have any employe&s ()f Its own. In addition to the amount included above, the Trustees may also authorise certain donations for whlch the beneficiary has lo meet certain conditions before the donation is released. The amounts aulhorised but not accrued for in these financial statements are sel out in Note 10. hAan Group plc Charitable Trust 18
Notas to the Financlal Stst•ments 31 OeeembeT 2024 4 Support costs 2024 2023 Auditols remuneration - auditing of the Trusts financial statements Other professional fees 19,390 2.000 21,390 13,850 13,850 The Group provldes the Trust with staffing free of charge. This support has not been recognised in the financial stateTnents because it has not been possible to quantify the value with reasonable accuracy. Other professional fees relate to work on revlewing the Trust investment policy. Support costs ar8 split equally between each Gategory of donation payable wlthin Note 3, allocated in total to the Trust's single a¢ti¥ty. 5 Employee costs and remun¥r¥tion of key personnel The Trust had no employees during the y9ar12023-. NIL}. 6 Tru5te•s' expenses and remuneration None of the Trustees received remuneration in respect of their services as a Trustee during tha year (2023.. NIL). 7 Taxation Man Group plc Ch8ritable Trust is a registered charfty and therefore is not liable to income tax or corporation tax on income derNed from its charitable a¢livities, as it falls Within the various exemptions under section 505 ICT A 1988. 8 Investmonts Current asset invtsstm8nts comprisè cash on deposit with a six-month maturity. As at 31 December 2024, the Trust held a deposit of £600,QOO {2023.. £NILI with a matur.ty date of 4 March 2025. Man Group plc Charitable Trust 19
Noto8 to thè Financial Statements 31 December 2024 9 Creditors.. amounts falling du• wlthin ong yaar 2024 2023 Accruals Donations payable 35,240 459,812 495,052 13,850 445,510 459,360 Donations payable of £459.812 {2023.. £445.510) relate to donations approved In advan of year end paid in Ihg followlng fjnancial year. 10 Commitments Donations for which the beneficiary has not been infomied or has lo meal certain conditions before the donation Is released are not accrued for bul are noted as financial commitments in the financial statements. Al 31 December 2024, the Tnjst had committed to donate £50,000 in 2025 to Hibiscus12023.' tha Trnst had commiited to donate £100,000 in 2024 to Redstart). The Trust has no fvrther commilmanls othèr than the settl&menl of those donations which were approved in the year 6nded 31 Decgmber 2024 and which are included in current liabilities al the balance sheet date. 2024 2023 At 1 January Utilisation {RedStsrt funding) Addition$ IHibis¢us funding) At 31 December loo,000 Iqoo,0001 50.000 50,000 200.000 1100,0001 100,000 Man Group plc Charitable Trust 20
Appendix Charltable donations for the year ended 31 Deeember 2024 2024 2023 Charitable donations The AuditDry Verbal Gentre Cty Gateway Limited Discover Children's Story Centre FiTSt story Limrted Greenhouse Sports Limf(ad Hibiscus Man US GhaTf(able Foundation MyBnk National Society for the Prevention of Cruelty to Childreii Read Easy UK Redstart Refugee Education UK Starlight Children's Foundation The Brilliant Club The Swtch XLP 100.000 50,000 50.000 40,000 40,000 45,500 50,000 150,000 50.000 40,000 50,000 100,000 so,000 50.000 50,000 31,510 50,000 897,010 50,000 40,000 50,155 SO.005 150.000 so,000 40,000 so,000 100,000 50.000 so,000 so,000 32,352 50,000 912.512 Employe¢ spon$ovship matchlng 24,947 25,825 Employeè Give As You Eam {GAYEI matching 27,300 29,000 964,759 951.835 Grand totsl Man Group pl¢ Charitable Tnjst 21