Charity Number: 280693 THE LONDON TRUST FOR TRINITY COLLEGE DUBLIN UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 THE LONDON TRUST FOR TIUNrfY COLLEGE DUBUN Pa8e Reference and admlnistrath detaHs of the charlty. hs In￿ee5 and advlsers Tru5tees' report Independent exaTnineVs Yeport Statsment ot finantial a¢tfvltie5 alznce 5hett Statement 0f￿h flows io Notesto thefinancial statsments 11-17 THE LONDON TRUST FOR TRINifi COUEGE DUBLIN REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. rrs TRUSTEES AND ADVISERS FOR THEYEAR ENDED 30 SEPTEMBER 2024 The Board OfTn￿teeS Mr R PennaTht-Rea Lady E Duff Gordon Mr F Larkin Charity re8iStered numbtr 280693 corresponden￿ addre55 clts Frank lafkin 70Talbot Road london N64KA Independent Examlner Rajw Thakerar Simrnorb5 Gainsford Professional Servi￿S knmited Chartered Accountants 14 Floor, 33 Cavendish Square London WIG OPW bankers UoydsTSB 83 Clarence street Kingston Thames Surrey KTI IRE Solicitors New Media Law LLP The Tapestry BuildiThg 51152 Frith Street London WIO 45T Page 1 TME LONDON TRUST FOR TRINITY COLLEGE DUBUN TRUSTEES. REPORT FOR THEYEAR ENDED 30 SEPTEMBER2024 The Trustee5 are pleased to present their anr￿al trustees. report together with the th"nancial statements of The London Trust forTrintty College Dublin forthe year i October 2023 to 30 september 2024. The financial Statements compty with the Charities Att 2011. the Tfust Deed. and Accountlng 3nd Reporting by Charities.. Statement of Recommended Practice appIl￿ble to charities PTeparing their accounts in accordance with Financial Rep￿rr￿8 Standard applicable in the UK and Republic of Ireland IFRS1021 (effective l January 20191. objeclive5lF￿ A¢lfvldes Pollcles and obleciives The Chariws principal att￿rtY is to promote the ad¥ancement of educatK)n generally and Sn partlculaf public access to educational facilities and of highereducation in the Brth5h Isles and at Trinity College Dublin. Publlc Benefit We have referred to the guidance contsined the Charity comm￿10￿.5 general guidance on public be￿efit when revlewlng our aims and objective5 atbd ID plannin8 our frjture actwities. In particular, the Trustees consider how such planned activitieswill contribute to ihe aims and obJect￿e5 of The Ltsndon Trust for Trinity College Dublsn. Achlevements and perforrnanc• Review vf artlvltles Income is malnly derived from donatlOll5 and legacies. Grants have been rnade to Trinity Foundation, part of the University of Oublin, a public body and a charity registered in the Republic of Ireland for the provision of funding lor research, scholarships and to acquire equipment and assets. Golng concern The overall geopolitical landscape ￿m31￿ ¥olatile. however de5PtiE the uncertain economic clirnate due to the USA economic strategy and the ongoing Ru5sia/Ukraine war, the trustee5 have a reasonable expettation that the charity ha5 adequate resources to continue in operational existence for the foreseeable future. For this rea50n they continue to adopt the gosng concem basis in preparing the financial statements. Page 2 THE LONDON TRUST FOR TRINITY COLLEGE DUBLIN TRUSTEES, REPORT Icontinuedl FOR THE YEAR ENDED 30 SEPTEMBER 2024 Hnan¢lal revlew The annual financial 5taternents a￿ attached tothis report. These have been prepared in accordance w￿h the pollcies 5ummarised on pages 8 to 9. There was a surplus from activrf(ies of £41.83312023: £36.C*31 on incoming ￿$ourteS of E974,43612023.. £421.5361. The primary focus of the Trust is to provide a tax efficierrt vehide for UK based donors to enable them to support key areas within Trinity College thjblsn. Graduates are contacted via postal mailing5 and a telephone campalgn to update them on the current needs of the College with the purpose of 5ecurfng IlonatSons while also keeping alumni abreast of rettnt developrnents. Total Sncome raised ill 2024 doubled vsthe prior period. A legal review and update of theTNst Deed will be undertaken and completed for the upcoming financial year. StnKtureJ governance and management Constitutlon The London Trust lor Trinity Colle8e Dublin ltharfty number 2806931 is a registered unincorporated Cha￿ty governed by a Trust Deed established on 9 Juty 1980. The charity is also known locally as The UK Trust for Trfnlty College Dublin.. The irustees wh) served duringthe yearwere.. R PEtTrnant-Rea E Dull Gordon F Lèrkin Method of appointmentor elettion of Trustees The management of the charSty is the resw)nsibility of the Trustee5 who are elected and co-opted underthe terms of the Trust deed. Page 3 THE LONDON TRIPST FOR TRINITY COLLEGE DUBUN TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Organlsatlonal Structure and decision makinR The London Trust forTrinity College Dublin is an independent L￿Ywh1¢h make5 grants for the fvrtherance of higher educatlon. The poliry on making grants is to identify worthwhile cau5e5 on the initiatNe of the Trustees or by application bythlrd partie5. Any decisior￿ to make grants are made bytheTrustees on a majority rule basls. Trustees have bsolute discretlon with regard to fund allcKation. The artivities of the Trust are ctrordinated by the Chairman, aided by the Secretary. Trustee communication5 and decislons are done primadly by email, telephone and meeting5 as required. The rnethod of appointment for Trustees is that the name5 of prominent and èctlve membefs wlthln the graduate base are ￿vieWed by current Trustees and a dem(Kratic choitt rnade from a short Ilst. TheTrustees have been carefulty cl¥)sen from graduates of differing decades, to ensure a falr reflection of vlews. A new Trustee is provided with the following illlomation to enable him or her to discharge hi5 or her responsibilities, namely.. a copy of the Trust Deed. the latest annual accounts and current financial position, the latest Chairman's report, the Minutes of the last meeting of Trustees, anyavailable information on current rnarketing projects and 3 copy of the Charity Commtssion's Duties of Trustee5. The Trust engaged a specialist legal fimi to undertake a full revlew of the Trust Deed In November 2024. The purpose of the review 55 to update the language, includifig to èdd modern goverFkance power5 and provisions and flexible provisions around virtual meetings. decisions by email. These changes will require the consent of the Charity Commissitin the airn is to notify the Charity Commission by 30 September 2025. Risk managernent The London Trust is incorForated into the regular risk reviews of the Trinity Development and Alumni. A separate rlsk regSster forthe Trust will be developed in the upcomlng financial year. Plans for future yeavs UK taxpayers teased to be eligible for UK tax relief on donations to EU or EEA charities from April 2024. A5 Trlnlty Development and Alumni ceased to be an eligible charlty. The London Tnjrt for Trinity College Dublin Is now the entity for UK donor5 who wlsh to support Trinfty. Page 4 THE LOfrJDON TRUST FOR TRINrrY COLLEGE DUBUN TRUSTEES, REPORT {¢ontinved) FOR THE YEAR E14DED 30 SEPTEMBER 2024 Trustees. responsibilities Statement The Trustee5 are responsible for preparing the Trustees, report and ihe financial staternents in accordance wlth applicable law and United Kingdom Ac¢ounting Standards lun￿ed Kingdom Generalty Accepted Ac¢ountlng Practicel. The law applicable to charltles In England & Wales wuires the Trustees to prepare financial statements for each flnancial year which glve a true and fair view of the stste of affai15 of the charity and of the Incoming resour￿5 and application of resources of thÈcharityforthat year. In preparing these finaDcial statements, the Trustee5 are required to: select suitable accwntyng polltles and then apptythem conslsteDtIv: 065erve the methods and principles in the Charitie5 SORP.. make judgments and accounting estimales that are reasonable and prudent., stste whether applicable UK Accounting Standards have been followed, subjectto any materlal tleparture5 disclosed and explained in the financial statements.. prepare the financi31 statements the Éoing concem basis unless it is inappropriate to presume that the charity will continue in operation. The Tnjstees are responsible for keeping Proper accounting records that are sufficient to show and explain the charity's tr3nsaction5 and disclosewith reasonable atturacy at anytitne the rifianc￿al position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Account5 and RepDrtsl Regulation5 21Y)8 and the provisTrons of the trust deed. They arÈ also responsible for s3feguardingthe assets of the charity and hence for taking reasonable stepsforthe pvevention and detection of fraud and other irregularities. The trustees for the purposes of charity L8w who served during the year and up to the date of thls report are set out on page 3. Thi5 reportwas appfoved by the Trustees on and signed on their behaEf by: Mr F Larkln Trustee Pag8 5 THE LONDON TRIIST FOR TRINITY COiLEGE DUBUN INDEPENDENT EXAMINEWS REPORT TO THE TRUSTEES OF THE IONI>ON TRUST FOR TRINtrY COLLEGE DUBiIN FOR THE YEAR ENDED 30 SEPTEMBER 2024 Independent examlnerfs report to theTrnstees of The London TrustforTrfnltyCollege Dublln I report to the trustees on rny examlrnation of the financial 5tatemeThts of The London Trust for Tilnlty College Dublin for the year ended 30 September 2024 which comprise the Statement of Financial Activities. the Balance Sheet and related notes. This report 15 made solely to the charitls trustees. as a ly)dy, in accordance wtth Section 145 of the Charities Art 2011. My work has been undertaken so that I mlght stale to the chariws trustees those matters l am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or355ume ￿spOnsibl11ty to anyone other than the charity and the charitW5 trustees as a bDdy, for my worl forthis rewrt, or for the opiThions I have f0M￿d. ReSpOnsi￿lItieS and basls of report Asthetrustees ofthe charityyou are re5tM)r¥sitde forthe preparatlon of the fina￿lat Statements In accordance with the requlrements of the Charitie5 Act 20111.the ACVI. I report In respect of myexamtnation of the charlvs financial stateMents￿rr￿￿ out undersection 145 Of the Act and in carrying out my exarnination I have followed all the appllcable Dlrections given by the Charlty Commission undersection 14515llbl of the Act. Independent examlnerfs statement Since the Charity's gross Income exceeded £250.CMJO your examiner must be a member of a body listed In section 145 ofthe 2011 Att. I confirm that l am qualifled tovndertakethe exarnlnatlon because l am a member of The Institute of Chartered Accountsnts in England an¢J W31es, which is one of the listed bDdles. Your attention is drawn to the fact thatthe Charity ha5 prepared the accounts in accordance with Accounting and Reporting by Charitie5'. Statement of Recommended practi￿ appltcable to charities preparing their accounts In accordance with the Financial Reportingstandard appllcable in the UK and Republic of Ireland IFRS 1021 In preference to the Accounting and Reporting bycharities.. Statement of Recornmended Practice issued on l Aprll 2005 whtch 15 referred to the exiant regulation5 but has been withdrawn. l understand that this has been done In order for the accounts to provlde a true and faif view In accordance wlth the Generally Accepted Accountlng Prac11￿ effecttve for reportlng periods beginning on or after I January 2015. I have completed myexarnination. I confimi thatnomaterial rnatters have corne to myattelltlon in connection with the examlnatlon giving me cause to beltreve that in any material respect.. ccounting records were not kept in respect of the charity as required ￿ section 130 of the Act.. or the financial statements do not accord with those records., or the financial Statements do not comply with the applicable requirements ¢on¢erniftg the fom7 and content of accounts set out in the CharitE5 IAe¢ounts and Reports) Regulatl(>n$ 2008 other than any requirement that the accounts give a 'true and falr view vthich 15 a matter consldered as part of an independent examination. Page 6 THE LONDON TRUST FOR TRINITY COLLEGE DUBLIN INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THE LONDON TrUST FOR TRINITY COLLEGE DUBLIN {continued) FOR THE YEAR ENOED 30 SEPTEMBER 2024 I have no concerns and have come acr055 ￿ other matters in connection wrth the exarnlnatlon to which attentlon should bedrawn in this report in order to enable a proper understanding of the financial statements lo be reached. Rajiv Thaktrar FCA Ilk*endent Examiner) For and on bthaw of Slmmons Gainsford Prof￿10￿1 Servi¢es Llmlted Chartered Accountants 33 Cavendish Square London WIGOPW Oated.. 6 lune 2025 P¥Je 7 ThE LONI)ON TRUST FOR TRINITY COLLEGE DUBUN STATEMENT OF FINANCIALAcnviTIES FOR THE YEAR ENDED 30 SEPTEMBER 2024 Ttstsi Total Funds 202a 20Z4 Inctym from: Dona¢FDry5 and grènts OpÈrknnal func4ng rece￿ed 16,483 7.757 950.196 966.679 7.757 411,816 9,720 14 Totsl In¢om• 24240 95q196 974,436 421.536 ExpwditsKeon: Charitable att￿yE￿@S fj￿￿ts payable to Instrtuttons 14 7.757 911x766 924,848 7.757 447.879 9.720 Total expÈndhure NetlrKornel (tM¥endltu￿1 before othEF ¢trdn15ed8ainsand ID51e> 21.837 910.766 932.603 457,599 N41 mo¥ernent knfvnd5 1403 39,430 43￿35 136,C631 Reco￿111￿(￿01fUndS". Total fund5brvu8htforward 16561 9.583 26,144 62,207 49.013 67,9TI 26.144 The note5 on pages Ilto k7form p3ftofthesefinaKial ￿ateMen Page 6 THE Lof4DON TRUST FOR TRINITY COLLEGE DUBUN BAiANCE SHEET AS AT 30 SEPTEMBER 2024 2023 Currerbtasgets Debtor5 Cash* bankand In hand 27.518 47,419 74.937 14,323 21,541 35.864 C￿ed￿0T￿.. amour5tsfal￿s wfthln c Year 6.960 9,no 26,144 67 77 67,9TI Ilet a55ots 2S,144 (that￿¥ F￿d5 Restrictedfund5 Unrtstrictedfund5 li 49.013 961 9,583 16,561 TOtsIfvNds 67.9n 26,144 Tr* financla15tatsrnerktswereapwoved lrythÈ membersofthe¢X?￿￿iltlet0n #L lu Is and sl8ned on theiTbehaWby Mr F iavkkb Truste nrteson p¥e511to 17forni part￿[th￿se￿n3ndaI 5t*emE Page 9 THE LONI)ON TRUST FOR TRINITY COLLEGE DU8UN STATEMENT OF CASH FLOWS AS AT 30 SEPTEMBER 2024 C•shllows frOm0￿rat￿r￿ a(N¥ltles 14et cash used In operaiin8 artivities 13 25￿78 137,0421 (￿n￿l*￿￿and rnshe4uivaknts (Athe year Cash and cash equfrlalents at the beginningof iheyear Cash and cash eguhalents * W*end olthe ye•r 25A78 137,0421 58,581 2LS41 47.419 21,541 Thèttoteson p3Ées lito 17fonm partOltheseffTra￿alsl￿Émeni$. Pa￿ 10 ThE LONDON TRUST FOR TRINITY COLLEGE DUBUN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accourtlw polldos 1.1 8aslsof prepavatiofbof fiMth¢ial siaiemèms The finantial Statements have been prepaTed in a¢(tydathtÈ with Accountin8 and Reportlng by char￿4e5., 5t3tement of ReeommÈndÈd Practke applicable to Charr(￿$ preparing thar account5 in acLY)rdance ￿th the nancial Rewrting Standard ap￿￿£3b1É In the UK and Rewblic of Irdand IFR5 1021 leffethe ljanuary 20211 a5 amended by Bulletin l i55ued by the (harrty Comrni55ion - (Charitie$ 50ftP IFR5 10211, the Financial Reporting Standard awAIc3ble in the LIK and Repuiylt of I￿LAnd IFRS 1021 ar￿the CharltlesAct 2011. The London Trust forTrlnityCd￿eDUblln cor￿ItuteS a publlt benefft entityasdefir￿ by FR5 102. The fin3nclal statements are prepared under the hi5torKal(05t¢on¥ention. 1.2 Fund actountlr General funds are unre5tritted lundswhkh are available for use atthe d￿tte￿on of the Trustees In furtherance of the general Oblert￿e$ Df rhe tharity and thich have not been desiEnatÈd for other purpose5. t*signate41 fvnds wmw15e unrestrKted lund5 that have been set aside by the Twu5tees for partitular purp05e5. The airn and useof each dewatedfvnd 15 5etout in the notestothefinancialstatements. Restricted funt15 afe funds Whkh are to used in accorda￿e wlth spedfic restrictions imposed by donors or whkh have been wai5ed iy the fharty for particulaT purp￿5. The ¢osts of raiyr4 and adrninisterfTrK Such funds arecharged again5tthe speuftcfvnd.Theaimand useof e¥chrestriLtÈdfvnd i55etout Inthe nutEStothÈfinan¢lal #atemeThts. 1.3 In(ome All income Is recogni5ed once the tharity has entitlement to the incorne. rt Is probable that the incL¥Ne syill be rttdved and theamountof income reieNabk