Do￿￿gn Envolope ID.. O950C20￿A￿E4227-9C2l-BB6DFBBc7055 HEPORTOF TRusfELS AND FOR SE￿1￿8 CatllLOts Audit Limitya 424 Marg* R( Kent cr12 6SJ Envelope ID.. 095DC2o￿￿AE4227-gC2l-B86DFB8C7 FOR THK YEAR ENDED 30 SEVf£MBER Z1125 P*g¢ Report of the Trustee• Report of the IDdeptyth￿A￿dlt0rj 5 to 8 Bthtttè Shert Caob Flow Ststern￿t li 12 21 D¢xMJ5¥g Envekwe ID.. 095DC200-FAAE4227-9C21-B860FB8C7055 The trustees present their reFQrt with the financi￿ stateM￿ts of th¢ the ye4r eDdeAI 30 2025. Tile appIicable to elwiti&% preparing thetr accounts ID a￿)rdance with the Firthticial Rwrtin8 Standard app]i¢xble in the UK aTrd Republic of IrelaT￿lFRs 102) (thtive i January 20191 Objectiw and girns education of the public major socia] science, mana8rntStudics a￿1 4x0nonknep)￿cY 8th￿1¢8. Dc8Jations tt¢eived by the tn¥teu iti the)ur#nwlltt￿ ty£181251 (2024: £357239). Grtttts provided by the trustees inth¢yertotslled 19 ar#J to £37&121 (2024: 16 and£281.5￿ rtSFec¢ively). Studi¢5 r￿lting from the projeAts which ￿nt-aIded by the trust publish￿ by the Cthtr¢ for Policy Stuth'( Civitss, Polit¢14 Tax Payu5 Allianc4 Drvide u￿$￿ttl￿ Couwil on Hum8n Bi(xthl￿. The GTOWtb loitiative Ltd/GkrJwth COMMI￿0￿ Ond University of Sury. PROJEC13 RELATING TO BRrrAIN AND EUROPE A Renew&l of the Europe￿ Conventton of Humatt ltights Analysis ofEconomic Growth in Ci)ntiDtht41 E￿oPe PROJEaS RELATING TO UK PUBLIC POLICY Evaluatin8 the PerfomwDc¢ and Eff￿tiVene&s of CoriknAutrKKitic4 Tax Briefjng R(KTrm 2024 How to iievitalise the UK'$ Life Scieuc¢s s￿ Developing au Olljine D&shFAwd for Betjefjts a￿1 WeJf2rc D Academies and the Future of Britssb FA*uc Devcloping an Onlxue D&%hlMwd for Scbwl PerfffjD•￿ D*a A conservative Vision for Savin8S Why America WRll5 UK EcoD(Trrny, Businus a[￿ Data Re£￿atiOn. Wh* SI￿ Be the Law Dvvelopillg aD ODJine D¥sbt*)8rd forL(Kal AUt1￿j1tyD Town Hall Siekne5S Options to Reduce Public EwdÉturr Options to Make Savitw in the NHS Thtre was a ntt IArtAow of resoll￿ IA Y￿ of &201051 (infimv 2024.. £7&945), wbicb de£re￿￿ the fuDds fonyard of £594.019 (2024: £515.074) JtsviDg totsl fimds kn b¢ forwd agai￿$t futtue w of £391968 (2024." £594,019). The ts)￿ fi]nds of £391368 (2024.. £594.019) are all Of Wrcstrj(￿ fllnd% £163.488 (21724.. £311,42K) desigtsated l¢aviD8£228,480 (2024.. a82.593) ￿ fr¢e￿se￿e￿ D(wlgn Eftvdope ID." o95DC20D￿AAE4227￿1-BB6DFB8C7cfj5 REPORT OF THE TRUSTEES Publie benefit The trustees Confi￿ tw have ¢oll￿￿ed with the dtty in sectirn 17 of ts iJarAtses Act 2011 to l)tve dlle reg￿ to the public benefit guidaTKe publithed by the Charity conun￿0￿ Th¢ tsuSt￿S have rcfcrt¢d to the guidanc¢ contained in the Charity Commission's grn¢A] su1(18￿ ou [￿b]IC wF*D ￿vIew1￿ the trusV8 aim8 aL￿ Obj￿&8 and i settsng the grdllt wkillg ￿ICyfw the ye¥r. Gr#ntmaklL48 The chan'ty does notmake 8Auts to inthviduai5. FINANCIAL REVIEW prtDcipal fvnding sovr¢ Invutment polley *nd obSeth fim&ng puryws. The trustees have Co￿￿￿1creAj thc amOUDI of incane requirtd to D)8intain the cumt level of clwitable activity and the likety needs of ffijtU￿b￿￿fic￿Ir1t￿ Ruervu polky level whi¢h equ8tes to not less thBD three ye4rs of support and 8ovulla￿e MSLS. The trthqle¢5 consider that this level will At the y08r end. tbe balance held as ￿￿$trI¢la1 18 £391,968 (2024.. £594.019) of Ivbieh £228.480 (2024: £282.593) are regard￿ as ftee reserves. 88allLqt an s￿d of £21545 (2024.. £16J29). Included withiti uuregtri¢t¢d flltth sre desi￿ fimd8 of £163.488 (2024.. £311.426) whicb have beett e8t8blishoJ by the truste¢8 to Golng conce The tW8tee8 0)n8ider that the ¢h•rity 8 "GoiD8 Conc•n" for the frffeseeabl¢ futwe. Thi8 18 bosed OD an &S5¢&8ment of the latest adu81 financial rcsults 8nd their rcview of fjjttwe conditiOLS dis¢u8sed in tmste¢ proJ￿ted [￿ery¢s, relatiVE to the 8et oul iD the Rern Poli¢y. The Reserves Policy state9 that the ¢]wity st￿uld hold f￿ ffsuyes in at a kvel wbich equates to not kss thall thtt¢ inC0￿e to 5Utoort the charity fornext ye8randbeyoDd Gov¢rning documeDt The for Policy Raearcb vrns cstablthe41 Declaration of ThLSt (Lknl of Tntyt) on the l July 1982. tswst is eonstitsrtcd as an ullmc￿ clthity whi¢b is Ltgistrrnl with tk a￿tIty Con)misgion on 26 1982. Thc cbarity's gov¢rnin8 d(wnert is (be I)e¢d ofTn* wbicb is 5L4)pl¢mcthJ by 8 DeeAI of var￿110￿ dat￿1 24 J￿￿ary 1984. Recrvitment and #ppoinltt)eDt ofBew trustees not be less than thtee. Dotus¥n E￿k)pe ID.. 095DQ20tkFAAE4227-9C21.BB6DFB8C70&5 REPORT OF TRE TRusfEKS OrgaD158tioDx] strnetsre Ruponsibility for the overalt m￿agem￿t of the trust Ettsts with the who ttim to meet C￿ a quartedy b88i8. At the delegated to the secretaryth49Jru. inducttoll 8nd training of neTY tru All existÈllg trustees are fully aware of the wrAkng8 of the trust alld it follow8 indu(aion training of n¢w th￿te¢S wouldfollowa8imilaT ljlle b¢foTe laknog a full inthe trJs¢ responsibilitie￿ effcctivdy. The prcws iDch]du.' An ovetview of tbc chan.tys D)issio4 Visio￿ and v&lue4 eDsitring ￿lgOrne￿ with the Organi￿on'$ coreprinciples. organiyatiott fjJn¢ttotss. offcr a t1￿U8￿ und￿StaDd￿8 ofthe dJarity8 currtnt FK6ÉtioD 8rtyl futur¢ directl￿. meet￿8$ with ex￿ trustK8 to estsbltgh Telationships aod facilttate c￿￿]Ve cornm￿1￿110n and collaborntion. TNste¢8 we ¢X￿¢ted to bav¢ ext*rtise and ¢xpthC￿ec to siiwort th¢ wotk of the ¢hanty. Training on spe¢ific area8 Rtgk m•n*gement The tNstees have q)nsidtyed the JnBjor risk8 to whEth the knE5t is expjsoj bave r¢view&J tiskj. Coo8iderit)8 th¢ gize and na¢uR of the ￿Y hav¢ establisbed systets￿ and prcyxthwu to manage thole riBk& The priDcipal risks and U4C¢rt8inti¢s facing the charity include: h&8 diV￿51r1e4￿ its fiwding SOUW and estsblishal 2 restrve￿I1ey. compliance by￿8￿[1r1Ym7¢Wfftn8 l¢gal obligatsons. Reputational RE8k: Negative publicity or I￿[d￿ts that eould the (*atitys rytstioL Th¢ thrity ffviewfj its dotLO resili¢nl and wable of acbieviDg its mi￿10￿ 8tyd obJ'e£tive& Rc¥atercd Charity number 285143 Prlndp41 addrus Apt 38 Charl&%ton Court 61 West Cjiff Road Kent crio IRY Trnstees E J L Koops ChaiEt￿ (r￿￿ 914r2025) Miss I M Nid)olson A Speaight KC Chairtsk J S Bradsbaw A Smiley (appoi￿ 13111t2ff24) D￿￿￿n Envdope ID.. o95DC20WAAE4227.￿2l￿￿6DFBSC7ffjS REPORT OF THE TRusfEFS Audltors Spurling CaDnonAudÈt Limi*d 424 Margatr Road Kent CF12 6SJ P R Orbell-Jon& Charity law r¢quire8 tbe thJstr¢g to wepare fjtititici￿ for e￿h fllwtiei￿ year. Unts that law. tb¢ trltstees have elected to preP￿t the financial stst¢rnents in accord￿￿ with United KRLgthm Genernlly Aeceptal Ato)unting Practic¢ Iunited Kmgdom Acco￿￿1￿]8 Stalthth and 4)pli¢Jbk I￿). fair view of the state of affalls of the charity and of the irKomill8 re9)urn and application of resourc¢s, including the 8ek¢t yuitsble aceountingwlicies 3rd then apply tbem COD8iStwtly. obBerve the methods and principles in the Ch8rititt SORP. . Slate wb¢ther applicable a¢￿ sthnd￿ hav¢ been follo￿ to any rnatr4ial dwttu¢8 di&clo8ed and continue in busille￿. The tn￿ are responsible for k#piti8 proper accounti08 rr&)rd8 which disclose with rejsonpble aC￿￿8¢Y ftt ally tinie the finwial 5xisition of the clwrity and to t￿ble them kn eDwre that the finaD¢ial $thteme￿ts eA)mply with the Clwities A¢t 2011 8nd The Cbarity {A¢¢wts and Rwts) Regutstioos 21J)8. IW are also wible for s&fe8wditig tbe irregulariti¢> Approved by order of th¢ b(4td of truste¢8 On...... . A SFUi8ht KC-Tn￿e D(￿l￿￿dn Envkn ID.. 0950tr20￿FA￿E4227-￿l1.BB6DFBeCTO5s REPORT OF THE INDEPEf4DEKf AUDITOKS TO THE TRUSTEES OF Opinion We bave audited the fi[￿￿¢￿&1 8tat¢n)th of Tr TrLrytititr for Policy Rese4r¢h (the 'cJwitrfl for the year ended (Unrted Kingdom Generally ALWed Aec(xthgPractice). . gLve a and fair view of the state of the cb&1￿8 afftirs as at 30 Seothbu 2025 of its ill￿)￿￿ res0w￿ attd application of resourca. for thcyear then entsL" B￿18 for Oplnlon We ¢onducted our audii in &w)rdance with Int¢TD8tioDd Standttrds ￿ A￿lIt￿8 (UK) USAS (UK)) and aN>Eicable J¥w. (hw responsibiliti¢s uth those stsDdaTd8 are )fiJrtber dttertsj iti the Auditor￿ re8FQDStbilities for the audit of the that ar¢ relcvant to LW audit of the stat¢rnMts in the ￿ incluthg the FRCS Etbi¢a] StaDdart and we bave Conclu8loD$ ret*thig to goADg coneern In 4uditJDg the fiTwicial Styiements. we bav¢ Conclu￿ that tru8te¢d use of the goin8 concan ba8i8 of a￿ling in thc preparation of the finaDCtat is aAryTi B&sed on the work we have pofornwl we have tsot i&mtiffed #ny tf1atezj￿ tULctttiinties rekng to events or eondiiTOnS thal individually or colle¢tively, rnay cast sigorfic4nt doubt on ¢batity$ ability to contioue as A going ￿tte¢￿ for i pwiod of * le&8etwelve months from when the fill￿181 stat￿tr ¢¢ for issue. S¢¢tioD8 of thi¥ rwL Other thf•rm*tton The trJst¢es are responsibl¢ for the othtr infoll￿T0￿. The othet Infor￿0￿ Q)rtiW1￿ the itrfcmtion iticltsded iti the expjicitly stated ow repor4 we do nol any forn] of wurane£ co￿l￿S￿On Jn cotinrftion with our a￿11t of th¢ fitwi815tstemettts, our ￿4￿1￿)111ty is to read the other infornkn an4 ID doing $0, Consider whcther th¢ other inf¢)rnJtttiwA ffts malerially inc4n%iSturt with the frwicial statcmcnts or our kniowledge obtained iti the Audit or othuwise app¢ats to be tnateTially missts1￿ If we id¢ntsfy such materiat i[K0￿Sk￿cie& or M*tten on which Ive &Te requlred to rwrt by exteptio 2(108 requires u8 to repott to you 1£ ttj ow opinicffl: or Dow5ign Envekp8 ID.. 095DC20tKAAE4227-9C21.B860FB8C7(fj5 TAIE INSTrrtTfE FOR POLICY RKSEARC In prepTiDg the financi￿ st8tanth4 the aT¢ res[x)￿sIble for the chari￿S abdity to ¢ontitLue as a going uDl&ss tb¢ trustees eithcr inta to liqyidate the thrity OT to W2tion4 orhave no attanative but to do so. Dcujsign Env81ope10.. o95DcX>￿uE4227.￿l1-EB6DFBSc70s5 REPORT OFTHE INDEPENDENT AUDITORS TO TIIE TRUSTEKS OF Our r¢4pons1bltit￿ for the audlt of tbe fiwidaist*tsmeDts We have F£en appointed auditots under Secti¢)n 144 of the (]wities Act 2011 and w iD ae4)Jrd8n¢e with tbe Act opinion. Reaso]￿]¢ &wrance is a hi￿ levcl of Ixtt is M)t a gwattttt that gn audit (xJndu¢ted ID ac£ordanrx and arc considatd Mat￿la1 if, indtvidually or in the aggteg*, they could rnonably be expthl to ittfiu¢Dtt the noTrcomplianee with laws aDd Tegufatio&% we have ¢oJJsidered the followi . the natslre of the ￿tity #s a chèTity setup for the puw of fundingrrse4￿￿ sthdie4 confer0￿ and and &onomi¢ ￿lleY sti￿1¢ . detectin8 r¢8potidiDg to the risks of frn¥] al￿ whethttdw have kDowled8¢ of atty actyaL we¢ted or ￿eged frau(. . the inten]a] (wtrols estsbli5hed ts mts8ate riths of orwjwliance with laws 8ttd In Common with all audits u[￿￿ (UK). Fe are to wific prc*th io [￿ to tbe Jisk of ]Mnagement override. We a]50 obtsined llnde43t￿ng of the Ic8al 8rNI rc8ulaW frarnew￿ that the charity fo￿81n￿ on provisions of tb(*t laws and regul8kn that had z thr￿ effect the d&￿Ill￿on of matwi81 aMo￿ts and disclosures in the finaneial st8toments. The key lttws and re￿￿10￿S we COLsidetvl this context iDcluded The Tharities Acl TTust LAW. fi￿d[al$￿& health S￿{ safety t&x ￿￿'s18t1thL fraud and adapted c4troPPto&ch ar£udingty. A fijrther de￿1p￿0ll of our re8F￿17)i]Itl￿ for the a￿lIt of the frwicial statern￿ts is IcKair41 OD Ihe FiDatici41 ReEK)rting Do(xJsiw Envekpe ID.. 095DC2O[￿F￿E422T-9¢2I.BB6DFB8c7055 Use of our report This report is made solely to the ch8rÉty'S as a iMNty. iti with Part 4 of the lJaTities {Accoullts and RepoTtsI R¢gUlatiO￿ 2(K18. Our audii WOEk has ita) so th8t we might stste to the Ch￿1t￿S th￿tee8 those ll￿tter$ we r4u)r&l to state to them iti 8ll audi￿ts, • 8Dd for no other p￿p0￿ To the fi￿lest extent perDJitted by law. we do not awt or a&¥M￿ rwibibty to allyone other th8Tr the clthn.ty aryl the c]wi￿S tr￿Stees as 4 body. for 0￿ audit worl forthis rwl or f(￿the opl￿R0D5 we bave fonne¢l OU6DCAA2E1A4CF Spurling CaDnon Autht tJmitrA 424 Margate Road Westw(x)d cr12 6SJ 4 March 2026 Date: ................. Dorx*n ErNdcye ID.. 095D￿10Q￿FAAE4227-9C21-BB60FB8c7055 FOR THE YEARENDED 30 SEPTEMBER 2025 2025 Total TotsI Not&s Donations and legacies 182251 182251 357,239 J9ml 19051 22535 Totsl 201J02 2QiJ02 379.774 EXPENDTfuRE ON Charltable aetlvldes publi¢8tions 403J53 31J),829 (W051) (201051) 78.945 RECONCILIATION OF FUNDS Tot￿ fi]uds bn>ught forward S94.019 591019 515.074 TOTAL FUNDS CARRIED FORWARD 391968 391J68 594,019 Dwusvjn Envdope ID.. 095Dc2O￿￿E4r2F-9C2l-b86OFB 24125 2024 CURRENf ASSETS DebtOTS 857 396,470 6lJ63 537J65 397J27 59&728 io (5J59) (4.709) 391968 594,019 LIABTtITJES 391 594.019 IYET ASSETS 391,968 594.019 12 391968 594,019 TOTAL FUNDS 391J68 594,019 A SpwgbtKC. Thb#ee Pag¢ io Envdope ID.. O950Q2O￿F￿AE4227*2l_BB60FB8c70s5 2025 2024 Cash opuatthg #thilies 059946) (4,393) (159946) (4393) Cash ftlows from Invegthg *cttvltles Int¢rest receiv¢d 19051 22535 Net ¢ash provided by invuting actt 19,051 21535 Cban2e ID eqvlvalth ID the reporting peRlod Ca8h Attd <￿h equlvalents #t the be￿llIng of the reporthg pertod 40m) 18,142 537J65 519223 C#ih attd e*sh equlvalents at tbe tlld of the reportlD8 perlod 39A470 537,365 D￿U￿gn En¥￿0￿ ID.. o95L￿￿FA￿E4227￿2l-￿86DFB8C7(&fj NOTLSTO THE CASH FLDW sfATEMENr FOR THE YEAR ENDED 30 SEPTEMBER2025 2025 2024 Net (ewdithre)hneome for the rt￿￿ti￿ perfod {￿ per the Ststement of Fin*ncial Athities) Adj￿$(ments for. tnterest zeceived (201051) 78.945 09.051) (22.535) (61 563) 560 used In opttatlon¥ 059946) (4,393) ANALYSIS OF CWGES IN NET FUNDS AI 1.1024 c￿ flow A¢ 30.925 Net 537J65 (140WS) 390N70 537J65 (140095) 39Q470 537J65 (140,895) 396,470 Page12 DowsYJn Envdope ID.. 095DC2oL￿FA￿E4227.9c2l.BB6DFBecTC￿s 2¢cordance i•rith th¢ Cb8ritie4 SORP (FRS 102) 'Accouoting glld RqthD8 by ch￿ti￿ Statement of Retthng StaDdaDA apptic4ble in Ihe UK #Dd Republic of Irelafyl (FRS 102) (effeetive i J8m]ary 2019),. FinaDCtal Reporting Standard 102 Tr Fijmncid Ryrtmg Stsndard appliLxbJe in the UK aDd Republic of Ir¢land' aDd the C]wities Act 2011. The fio8ncial Statell￿ h&v¢ bw wqwEd uttdry the tithi￿1 cost Golng Co￿¢¢nI Income All iucome is rwDised ID th¢ StsteEnent of FinwKial A¢tivilies once th¢ Ch￿[ty h¥ elltiller￿ kn the fiJDds. it is probable that the ij￿￿￿¢ wru be Jtceived and the amountcao be tnwjrrd reliabty. ¢h8rity to that exP￿dID￿rA it fft8 prOP￿le that a tsansfEr of ttonomie b￿efft8 will be WUifEd tn settlement and the amoum of the obtigation C￿ i¢ mc&swed tehably. EXp￿'bJre is accou￿ for on an a¢¢DJ82s basis aad h88 been cl8&8ified under h¢adirt88 that agwate ccktt T￿8￿1 to th¢ C*¢gory. Wher¢ c(%ts cwmot be d1￿CtlY Grants payable aft plym￿lts to third prtsel in the furtbennct of the cFthTitable I)bJ￿ of the t￿￿. Singl¢ or mu]ti.year gK8nts oro for wljen either the recipieni lJ&g & reason￿le ¢XF¥Xtstion that they will r¢ceAve a grnnt alld tbe In￿ have to pay the m withLHrt conthli0￿ or the re£ipient has a rwonable exF¢ctstion that &y rxave a gr8Dt and any o)ndition attacbmg to the grnlt is 0￿Side of the o)ntrol of the ttusL Grants offeffd subject to ￿￿1t1(m￿s whith have met at the year e4d date are llo￿1 as a eommi1ment but Ajlocatlon and aPPDrtlonmeDt of cojts Support C￿￿ts are those that &syist the work of the c￿lty but do ￿)t dirxdy un(knk¢ ch&itsble activities. Nots 6 provide8 a br¢akdown of the C(￿ eDd howthesehave Ixen allocatot T*udo The clwity As oxejw from ￿ oll Ats ￿￿ilable ￿1Viti¢& The tn4t is J*X It￿￿Ed for VAT 85 tho tru5tses consider the Sou￿4 of income are exempt from VAT. Fw this re&Th it is w￿bI¢ to rxovcr ijwt VAT it suff¢rs on P￿ChaSed good8 and %rvic&% aDd the Cc￿1 is Inclu￿ with thc item of expense to it d Aecounthig Sp￿ifiC p￿￿. P8ge 13 Docwn Envdope ID.. o95DC20D4AAE4227.￿21-BB6DFB8c7055 FOR TKE YEAR ENDED 30 SEFfEMBER 2025 IK)NATIONS AND LECACILS 2024 Gift aid 181MII 1350 331.864 25.375 18U51 357,239 2025 2W24 19,OSI 22535 fvryjillg of livitie8 (see not¢ eosts (s Jwte 6) Tot•]s and publicatiLllk8 378,A2A 21J45 403J53 GRANTS PAYABLE 2025 378,121 281.500 21125 2024 Ceutre for Policy sti￿les Politeia Pay￿, Alliance Civit&4 Dont Di￿th Us Tr475 35.(rt)O 22JOO 160,(X)O Ulliv¢r5ity of Sthyty 35,000 A2JlO 378,121 281.500 Page 14 DocL￿￿n Enveky ID.. 09sDC20￿FAAE4227-9C21.B960FB8C7o5S SUPPORT COSIS ptsblications 21045 GovttDance eoslj 2024 proj￿ Total ¥¢tiviti rwb]icatio Auditors, r¢tuuneTr¢ion Legal pn)fwional fee4 1012 1,127 26S 921 130 11,063 727 Subscriptions Travel expenses CoThwltsney ftes 319 194 9,01)0 665 Event cattsing 21J45 IA329 TRUSTEES. REMUNERATION AND BENEFTts 202S 2024 lJ12 1,007 TrnJteeJ' ewell*eJ Acoxling to the govffoillg d(Kumctt (Tkal of Tr￿1 tru8t¢¢8 thgo8td io any prof￿[0￿ sb#ll be ￿111¢0 tD supph¢rs. Page 15 Oa¢xJsign Envelope ID.. 095DC2OtkFA4E4227-9C21￿B6DFB8C7o5S I)oJ)atiODS and legacies 357.239 357239 21535 21535 Totsl 379.774 379,774 Pub￿Cet10￿S 3(X).829 3W.829 NET INCOME 78.945 78.945 RECONCILIATION OF FUNDS 515.074 515.074 TOTAL FUNDS CARRIED FORWARD 594.019 594,019 DEBTORS: AMOiJNfS FALLtNG DUE wrrEiN ONE YEAR 202$ 2024 857 61 J63 IIX CREDITORS: AMOUNtS FALUNG DUE WITHIN ONE YEAJi 2024 Trth ¢reditors 857 4265 59 4,709 11. ANALYSIS OF I¥￿ ASSETS BrnEN FufiDS 2025 Totsl 397?27 (SJYJ) J27 (5J59) 598.728 (4.709) Cmt liabilities 391968 391,968 594.019 P88e 16 DoThJsign ErNdope ID". 0950C20￿￿E4227-9c2l-￿B6DFB￿7055 FOR THE YEAIi ENDED 30 SEpfEMBER21)25 12. Net At .1024 At 30.9.25 General fimd DG%ignated. CelltsE ts Pob"cy Studi&% (57,046) 228N80 2&413 (9588) Designated. Tax Payay.Alli8￿¢ DeyigDated. Politeia 27JA25 133.175 &￿0 00 Designated- DonlDivide Us D￿l￿ated. The Growth C¢bmmissÈon Designat&l- Scottisb CouDciI onHwnatt Bioethics D05ignated. University of Swrgy (A0￿) 13,046) (3,tW) o) 05.fMO) 35.000 594.019 051) 391968 SX019 (20￿$1 ) 391,968 N¢t movement in induded in the Ab)ve follow8: ¢xpend&a in fjJnd9 Ullre8tr1cted fun General fijnd 4165 5332) ff3,475) 33 {9,588) 1,91KI {140250) 000) (6,000) (3.040) I3,th￿) De$i8nated- Politeia (241fy)) (looo) (￿(th) 13,1146) {1¥￿) IksignatrA- Don* DivideU8 Desi8Dated. Scottish C(m￿clI onHwn Bioethics Desi8nat¢d. Univusity of Sury (2.000) (3S000) (3SOOO) 201J02 (403J53) (202,051) TOTAL FUNDS 201J02 (4O3J53) 1201051) Page 17 Oocusign Envekpe ID: o95EC20￿FAAE4227-9c27.BB60FB8c7055 r4(yrEs TO THE FINANCIAL STATEMENfs. ¢ontiDuod FOR TIXE YEAR ENDED 30 SEPTEMBER 2025 12. Net At 1.1023 At 30.9.24 Ullre3tri¢ted fattds General fund 281.709 24,￿21 2(V)344 79.364 J2JK 64.081 (225IKI) (34.5(Xl) (20.(KX)) (78.480) 1.480 282.593 38,1)01 273.415 Desft8nat¢d. Payas, AlliaTJce Designated- Polileia D¢sigllated- Ci*itsS Desigrwt¢d- Donl Divide Us 515.074 78.945 594.019 TOTAL FUNDS 515.074 78.945 594.019 in funds UDrestrleted fund8 98.693 47.5( 224,081 {19J29) (35,1th) (1{￿.[￿￿} (22.500) {44.(W) 120.(KK)) 79.364 12,5( 64,081 {22,500) (34500) (20.000) DesÉ8natcd. Centre for Policy St￿1¢$ Designated- Tax Payus, Alliance De5iWcd- Politria Desi8Dated- Civitss Desiwtcd- Don* Divide Uts 9￿ 379.774 (3(M).829) 78,945 TOTAL FUNDS 379.774 (3(MJ.829) 78.945 Pag¢ 18 DoGwsign Envelope ID.. 0950C20D-FAJE4227-9C21.BB6DFW7055 FOR YEAR ENDED 30 SEYfEhtBER 2025 12. Net At 1.1023 30.925 Unrestslthd f￿ndS General fund D&sigDat¢d- Cth forPolicy Sti￿1¢$ Des1￿￿ted. Migrntionwatch DesfftgDated. T8x Payus'AUian¢e D¢signated- Politeia DcsiBnated. Civttss Degignated- Donl Divide U8 Desigllated. Th¢ Growth CtiTnmi&8ion Desrgnated. Scutith Co￿¢￿1 on Hurts Bio¢thios Di8ignated. University of Sur 281.709 24.IY21 {135,526) 1.480 228.480 28,413 1912 20934 (76.169) (30.5￿) (40.5￿) (23.046) (3,(hJ)) 133.175 30,500 40.500 {10￿) (35,IJCKJ) 35.1NX) 515.074 (123.1￿) 391.968 515.074 {123.106) 391.968 A current yur 12 monthq ￿¥1 prior year 12 month8 combi￿ net Move￿ iti fund4 i￿]uded in th¢ alM)ve are as follows.. Resourcrf Movemcnt ¢xpend in fijnds Unreltrleted General futtd Designated. C¢ntr¢ for Policy Stith Envd(¥e ID: c95[￿20(￿FmE4227-9C2l-B86DF￿( FOR THE YEAR E14DED 30 sEyrE￿BER201s 13. For profr&8iowI wvi¢es kn the cbatity, PR Othll.J(w rwxivol frLs totillti)g £14,750 (2W24: £12.(K)O) artd £897 (2024: £IJ84) for cxperrtes I[xu￿rd on bethalf of the th*iry. The expe￿ &e ird]Mkd uuder dwitable 14. DOc￿jn Envelope ID.. 0950c20￿FAAE4227.￿2I￿￿60FB8c70s5 INCOME AND ENDOWMKiYTS DoD*tRoD8 #nd Iwcios Gift aid 18J.iM)I 1.2 331.864 25J75 182351 357239 Investment kncome 19051 21S35 201?02 379.774 Cb*rltabk aettvldej CoDsultsucy f¢es Grauts ty) iDStitytiom forpmjects 3.MO 281500 3Th121 381008 284.500 Support Trustces, meetsng exp¢]k Auditor5, muneiation Legal 8ndprofe&8ional fre8 Office expenses SubBtsiPtio Trnvel exp¢Dse8 Con5u]t2ncy fees Trust¢e8 tndenmtty iZLqur8llce Eventcatering 1112 1.007 4260 1,127 319 921 130 iJ,003 727 665 21J45 16J29 403J53 3Th),829 Net I￿pendI¢￿TeYfineoll (20aOS11 78.945 Page 21