Charlty No. 328694
Trust for Research and Education on the Arms Trade
(TREAT)
Report and Accounts
For the year ended 30 June 2023
Unit 1.9
Th• Grèen House
244-254 Cambridga Hoath Road
London E2 9DA

Trust for Research and Education on the Arms Trade
Trustees. Report
For th• Year Ended 30 June 2023
The trustees presènt thèir r8POrt and accounts of Ihe charity for Ihe year ended 30 June 2023.
The trustees have complied with the duty lo have due reg8rd to guidance iS$U8d by the Charity Commission.
LEGAL AND ADMINISTRATIVE INFORMATION
Charity namè..
Trust for Rèsèareh and Education on the Arms Trade
also knobTrn as TREAT
Charity registration number..
328694
Prfn¢lpal oifi¢e-
Unil 1.9. The Green House. 244-254 Cambridge Heath Road.
London E2 9DA
Trustees
The following served as trustÈ85 duriThJ th& yèar and continue lo serve to the d818 of this report unless indicatèd
otherwise..
Helen Close
Chris Cole
Jon Nott
Nichol8s Gilby
Anna Stavdanakis
Secretary
Independerrt Examlner
Hary Nicolaou FCA FCCA of Harry Nicolaou & Co Limited
Chartered Accountants
21 Brendon Way, Enfield EN12LF
Bankers
The Cwperalive Bank
1 High Street, Islington. London N19TR
STRUCTURE, GOVERNANCE AND MANAGEMENT
Goveming do¢urnent
Trust for Research and Education on the Amis Trade ITREATI is an unlncorporaled body governed by its Trust Deed
dated 27 June 1990 as amende(I by a Supplemental Trust Deed dated 20 July 2006. 11 was registered as a charity on
4 July 1990.
On 17 March 2003 the Charity Comrni55ion issued a Cerbficale of Incorporation of the trustees In the namè of 'Th•
Tnjstees ol the Trust lor Research and Educatlon on the Arms Trade..
Recruitment and appointment of trustees
In accordance with the Trust Deed the number of trustees must be at least three and not more Ihan 12. New trustees
must b8 suitably qualrfied and are appointed by existing twslees. New trustees are provided wth suitable rnaterial.
Organisational structure
The trustees mèat sèvèral limas per yè8r, as and whèn nè¢essary. They are responsibl8 for the strategic policy and
dlrecllon ol the oharity. The day to day responsibility for the provision of services rests with the Se¢relary.

Trust for Research and Education on the Arms Trade
Trustees. Report
For the Ygar Ended 30 June 2023
OBJECTIVES
The object of the charity Is Its promote research Into the inlernauonal arms trade and Its effects, and lo disseminate the
results ol such research.
ACTIVITIES
The trustees, in plannlng tho activltt88 ftsr the y&ar. h8va h8d duè rggard lo Charity Commission guidance on public
banafit.
The charity dèriv88 Its income mainly from granl-glvlng bodles and from legacies and donations from supportèrs. The
principal funding sources In th$ year are given in notes 2 and 3 01 thg acc(>unls. The charity fuifils ils objects prlmarity
through awarding grants to appropriato organls8llons. Thé maln beneficiary is the Campalgn Against Amis Trad8
ICAATI.
Durlng the year grant$ of £271,508 {2022 £272,382) were awarded to CAAT. Qlhor grants awarded are as sh¢)wn in
Note 4 of the 8ccounl$.
FINANCIAL REVIEW
Unre$lrlcled funds have decreased by £20.209 which have been subtra¢led from unreslrlcled funds brought lomard,
rosulting In £85,70012022 E105,9091 lo carry forward. Restn'cled lunds have in¢reased by £18,146 which have been
added to restrlctod funds broughl lo￿ard, resultlng In £42.08012022 £23,934) to ¢arry forward.
RESERVES POLICY
Free Reservas ar8 unrastrl¢ted funds £8S,700 less desKJnaled lund$ £54,380. that Is £31,320. The trustees have
d&v&loped thg lollowing p¢licy wlth mpecl lo restsrves..
lal Runnlng ¢0818 £5.000
Including paymènt for offica spaca whlch we us&. payment for management and othar work carried out dlrg¢tly on
TREAT'S bghalf and for the purchasè or hire ol rasourcès used by TREAT Of on TREATS beh811. We hav•
agr••d that ros•rvos ar4 r•qulrnd lo ensure we are abl• lo pay for office spac• for on• ￿ar, and to havfy
ong y￿r.¥ fvndlng for •ll other Itom$.
Ibl Contlnulng Work £20,000
rhis Includes itams of work which TREAT Is already committed to funding and would wish lo continue, includlng
grants made lo CAAT and other bodies for ongoing work. We h•ve aqre•d that rnSOtv•s •r• requlred
•n¥ur• w• hkv• oft• y￿r,$ fundlng lor th•s• It•ms.
(GI Worklng Capltal £10,000
This should bo suffieient to ensure that we have the necessary flnanees to alknw lor a planned process ol fundlng
projects in accordancg wllh our Donatlon Pollcy IrAlhor than havlng to wail unlll lunds arrlve baltsre ony ngw
projeets can b6 lundedl. There should also b8 suffic18nt lunds availablg to cover small urgent calls on TREAT a$ a
funding body and to allow us lo develop our funding slralegy by proactively seèking new projects which we would
wi8h to fund. W• hov• 09r•od that a Sum of £l?,OOQ I¥ 01 pros•nt 4ppmprlat• 8$ 4 guld•lln• Ilgure, bul th4t
thls shouldbe rnvl•w•dperiodlc•lly.
The foregoing would ind¢catè thal th8 approximale18v•I ol our ras•rv•s should normally be in the reg￿n of £35,000. Ag
at 30 Jynè 2023 they stood al £31,320.
RISK MANAGEMENT
The trustees havo id&ntified the major rlgks lo which the charity 1$ expo$•d. These are review&d annually and
minimised as lar as possible.
Approved by Ihe trustees on .......
and signed on thélr behaw by..
Jon No
Trust6È and Secretary

## **INDEPENDENT EXAMINER'S REPORT To the Trustees of Trust for Research and Education on the Arms Trade** 

I report on the accounts of the Trust for the year ended_ 30 June 2023 which are set out on pages 4 to 11. 

## **Respective responsibilities of trustees and examiner** 

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. 

It is my responsibility to: 

- examine the accounts under section 145 of the 2011 Act; 

- follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and 

- to state whether particular matters have come to my attention. 

## **Basis of independent examiner's report** 

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently , no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below. 

## **Independent examiner's statement** 

In connection with my examination, no matter has come to my attention: 

- ( 1) which gives me reasonable cause to believe that, in any material respect, the requirements: 

   - to keep accounting records in accordance with section 130 of the 2011 Act; and 

   - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act 

have not been met; or 

- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 


Harry Nicolaou FCA FCCA Independent examiner _of_ 

Harry Nicolaou & Co Limited 

21 Brendon Way Enfield EN1 2LF 


18 April 2024 

**3** 



Trust for Research and Education on the Arms Trade
Statement of Finan¢ial A¢tivities
For ihè •ar •ndèd 30 Junè 2023
2023
Total
fund•
2022
Unr•*trl¢t•d
hsnds
Rfrstrlcled
lundi
Notg
Tot8lff£mds
Income from:
Donations and legacies
Charitsble activities
Grants
Investments
Bank interest
3,197
1,543
4,740
51,255
268,821
268.821
257,290
625
625
257
Total Income
3,822
270,364
274,186
308,802
Expendlture on:
Charltabl• a¢llvltl••
Grants lo benaflclorl8S
Support costs
Govornance ¢08t8
7,687
400
15,944
268,821
276,508
400
16591
298, 162
400
20,780
116,6031
Total r•8oure•8 •xp•nd•d
24.031
252,218
276,249
319.342
N•t d•fScSt for th• y•ar and not mo￿￿9nt of
fund•
{20.2091
18,146
12.0631
(10.540)
RECONCILIA TION OFFUNDS
Total funds bro¢Jght forward 30 June 2022
10S,909
23,934
129,843
140,383
Total fund• ¢arrl•d lorward 30 Jun• 2023
85,700
42,080
127.780
129,843

Trust for Research and Education on the Arms Trade
Balance Sheet
As at 30 June 2023
Note
2023
2022
Current assets
Other debtor5
Cash al bank and in hand
109,730
60.038
190,870
169,768
190.870
Credltors: Amounts falllng due withSn one year
10
141,9881
(61,027)
Net current assels and net assets
127,780
129,843
The funds of the charity:
Unrestricted fvnds..
General funds
Dosignaled funds
31,320
54,380
85,700
42,080
60.429
45.480
105.909
23,934
12
13
Restricted funds
127,780
729,843
Approved by the Iruslees on .
and slgned on thelr behalf by.
Jon No
Trustee

Trust for Research and Education on the Arms Trade
Notes to the Accounts
For the Year Ended 30 June 2023
Accounting policies
Basis of accounting
The accounts {financial statemenlsl have been prepared under the historical cost convention with
items Tecognised al cost or Ifansaclion value unless othetwise slated in the relevant notelsl lo
theso accounts. The financial slalemenls have been prepared in accordan¢e with the Statement of
Recommended Pra¢tice.' Accounting and Reporting by Charities preparing their accounts in
accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 102} issued on 16 July 2014 and the Financial Reporting Standard applicable in the United
lfjngdom and Republic of Ireland IFRS 1021 and the Charities Act 2011.
The charity conslilules a public benefit entity as defined by FRS 102.
The accounts have been prepared on 8 going concem basis as the trustees believe that no
wnaterial uncertainties exist. The Iruslees have considered the level of funds held and the expected
level of income and expenditure for twelve months from aulhorising these accounts and have
decidèd that the charity is able to continue as a going concern.
Income
Income is received by way of donations. grants and legacies and is reco9nised once the charity has
entitlement lo th8 income. therè is sufficient certainly of re¢eipl and $0 il is probable that the
income will be received. and the amount of income receivable can be measured reliably.
Expenditure
Expenditure is recognised oncé ther8 Is a legal or con51ruclive obligation ID make a payment lo
third party, it is probable that a settlement wll be required and the amount of the. obligation can be
measured reliably. Expenditure is inclusNe of VAT. Grants to beneficiaries include grants agreed
for payment In ftjlure periods.
Govemanc8 costs include those w41$ associated with meeting the constilutional and slalulory
requirements of the charity.
Fund accounting
Reslricled funds are grants, donations and legacies which are lo be used for specific purposes as
laid by the donor. Expenditure which meets these crlteria is charged lo the fund.
Designated funds are uniesiricled funds pul aside by the trustees for specific purposes.
Unreslricled funds are granls, donations and legacies re¢eivable for the objects of the charity
wilhoul further specffied purpose ant1 are available as general funds.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discounts
offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts
due.
Creditors
Creditors and provisions are recognised where the charily has a present obligation resulting from
past event that will probably result in the iransfer of funds to a third party and the amount due to
sellle the obligation Can be measured or estimated reliably. Creditor5 and provlsions are normally
re¢ognised al their settlement amount after allowing for any trade discounts due.

Trust for Research and Education on the Arms Trade
Notes to the Accounts
For the Year Ended 30 June 2023
Donations and legacles received
2023
2022
Unrestricted:
Donations
Legacies
3,197
7. 121
10,000
77,121
3,197
Restricted:
Donations
Legacies
1,543
1.370
32.764
1.543
34,134
4.740
51,255
Grants recelved
2023
2022
Restrlcted".
The Joseph Rownlree Charitsble Trust
Tolkien Tiust
Serve AJI Trust
Cadbury Trust
Polden Pvckham
W F Southall Trust
112,821
145,000
10,000
1,000
89, 790
145.000
10,000
10.000
2,500
268.821
257,290
Continued

Trust for Research and Education on the Amls Trade
Notes to the Account$
Forthe YearEnded 30 June 2023
Grants to benetlcl8rle8
T•t•l
ct•d
fund$
2023
TOlalf￿n￿
2023
Tr*lundS
2022
Trwl
d•
Institutional grants
Grants wardéd to CAAT:
For r￿earch prryrarnrne
For the cost of European Net%thAgain5tAmts Ttade's
of an EU Programme ofF￿r
For the European Ne￿(￿k Agalnst Trp•J8'8 researth yoJect
For ts worker In Scoland
For its charitable w¥Jrk
For reler0nc6 malerfal8
ForT￿nIng & Events
For (kneach
F¢r Browsers
For Unversitie5
.397
58.458
10.C
128.853
128.853
77,750
47,040
28.896
24.324
28,896
24,324
1,000
2.687
4.767
19.557
97,500
2,572
2.687
175
4.768
19.$57
34.621
12.0
24.325
43,671
16.768
24.325
43.671
16.768
5,000
15.000
112.821
145.000
10,1)00
268.821
271,506
272,362
Other grant5 wwarded..
D&mlli¢arf5p EducatSon- lor ils
Dronè Wars UK- for its rtse8rch Fryrarnm V￿￿rt
Shoal Collective-for its ￿rk on Turkish arn￿ cornpaw aThJ Ihe
international cthmpanies supplying amis to Twkey
Om•ga. for datsba88 developftwnt
Corwption Watch. CorTwition Tfac*er a￿t UK Undr8dxted
WRI-fortheir *vrk ¢)n arms Sa￿ to West PaK
ICES. lor Gc¥rfer¢nGé p￿￿1paI￿n
5,000
5.000
500
10.000
5.000
300
112.821
145,000
10,0
1.￿0
268.821
276.508
29&162

Trust for Research and Education on the Arms Trade
Notes to the Accounts
For th• Y•ar Endod 30 Jun• 2023
Support and governancg costs
2Q23
20Z2
Expenditure ineurrèd on:
Administration overheads, postage et¢
2,000
2,000
2.000
2,000
An annu81 payment of £2,000, as shown above, is made to Campaign Against Arms Trade. This is a
contribution lo administrative overheads provided by CAAT including photocopying of minutes and other
Iruslees. papers. staff lime in preparing, ptsslage. etc.
In the opinion of the Iruslee5. 20% represents ihe support Costs of granl-making from unrestricted fvnds
and 80Vo of the above ¢osls are attribulab19 lo the governance of th6 charity.
Support costs
120¢/•1
400
400
Govornane• costs:
180.1.)
1,600
2,400
116,6031
11,100
1,600
1,900
16,603
Independent eXaMinat￿n
'Legal lees-property dispute
'Legal fees- validity of will dispute
Other
677
16591
20,780
'Legal fees paid in the pra￿0￿S year from the Swash restricted fund have been incurred in relation to
securing TREAfs interèsts in the property. of the Estate. As these fees are recoverable, they have bean
transferred to debtors.
-Ltrgal fees paid this year have been incurred in securing TREATS interesls as ￿SId￿ary beneficiary in
tha will ol Swash. Thes& faas ar8 r￿t recoverable.
Trustees. remuneration and expenses
The trustees received no remuneration during the year lyear lo 30 June 2022." Nill. Expenses of £160
We￿ reimbursed lo two trustees lyear lo June 2022.. Nill.
Taxatlon
Trust for Rèsearch and Edu¢ation on the Amis Trade is a registsred charity applying all its income for
charitable purposes and consequently is not liable to direct taxation.
Net outgoing resources for the ygar
2023
2022
This is slated after charging..
Fees payable lo the Independtrnt
Examiner for-.
Accountancy
Inde￿ndent Examination
1,500
900
I, loo
800
Totsl
2,400
1,900

Trust for Research and Education on the Arms Trade
Notes to the A¢¢ounts
For the Y•ar Ended 30 June 2023
Dobtor$
2023
2022
other debtorn
109,730
109,730
10. Crodltors: amounts falllng due wlthln one year
2023
2022
Trad8 crèditors
other credllors
34,588
7,400
1.327
59,700
41,988
61,027
11. Analysls of nel assets between funds
Unrostrlcted Restrlcted
funds
funds
Total
funds
Other debtors
Cash al bank and in hand
Creditors of not more than one year
109,730
15,735
{39,7651
109,730
60,038
{41,9881
44,303
12,2231
Net assets at 30 Jun• 2023
85,700
42,080
127,780
12.
Unrestrl¢ted fund8
At 30 Jun•
2022
In¢omlng
r•sour¢••
Outgolng
r•$our¢•
At 30 Jun•
2023
G•neral funds
60,429
3,822
112.9311
51.320
Transfer lo Designated funds.. Swash lega¢y
legal fees to prgve validity of will
{20.000}
32,931
120,0001
31.320
80,429
3.822
Doslgnated funds
Transfer from General Funds
Swash logacy legal lees paid in year
ENNAT fund
Shadow Wortd Invèsligalions (formerly
Corruption Walchl- for ils projecl"A Very
Brltish Kleptocracy.
20,000
20,000
111,100}
30,000
111,1001
30,000
15,480
45,48D
15,480
54,380
20,000
111,1001
Total unr•strlct8d funds
105,909
23.822
144.0311
85.700
io

Trust for Research and Educatlon on the Arms
Not•$ to th• A¢¢ounts
FgrihwY•4r End￿ 3OJun• 2023
13. Stat•montof rthd¢ted funds
J¢Mph
AL•G•y
doth
Tptsl r•Btrlctsd
lunds
2023
Totslrnstrtcl4é
fund¥
2022
Chartt4b
BwGh p￿d￿
l•y¢y r•iMtt•dltyaty r￿tr￿•￿￿￿¢Y r•stsl¢l•d
Donor
s￿•￿￿T￿lI
CidburyTmt
B￿ance dl 30June2022
2.500.00
10,000.rKI
21764.CQ
116.603.twJi
5,271.50
23,932.50
8.901.50
112.821.00
145.000.fKJ
10.000.00
1.0￿.00
1.545.00
270,W.10
16.603.00
29t,424.00
Transl8rtodébtor9
16.603.00
Re8fJurces expended
{112.821.001
1145,000.WI j10.NO.001
11,000.001
(268.821.0ty1
(276.393.00}
Bal*n¢* ¥ JOJun• 2023
2.Sfj0.00
10,OOQ.fjO
22,784.00
6,816.50
42,OW.S•
23.932.50
I rB¥w￿ fund$ haw ￿￿ded lorlhè purposesset outin Not• 4, tha purposesfoiwhlchtheywer8 glven.
e payrnentOf18￿ feBS rgkNtrng lothp Swash169acyaasbeentransf9tr0dlod*biors a9 Ih£sa 1•05 are recoveratrAg.
li