2025-06-30-accounts

Charity No. 328694

Trust for Research and Education on the Arms Trade (TREAT)

| Report and Accounts For the year ended 30 June 2025

Unit 1.9 The Green House 244-254 Cambridge Heath Road London E2 9DA

Trust for Research and Education on the Arms Trade

Trustees’ Report

For the Year Ended 30 June 2025

The trustees present their report and accounts of the charity for the year ended 30 June 2025.

The trustees have complied with the duty to have due regard to guidance issued by the Charity Commission.

LEGAL AND ADMINISTRATIVE INFORMATION

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Charity name: Trust for Research and Education on the Arms Trade - . also known as TREAT Charity registration number: 328694 Principal office: Unit 1.9, The Green House, 244-254 Cambridge Heath Road, London E2 9DA

Trustees

The following served as trustees during the year and continue to serve to the date of this report unless indicated otherwise:

Helen Close JonChrisNottCole ~ ; Secretary Nicholas Gilby Anna Stavrianakis Independent Examiner Harry Nicolaou FCA FCCA of Harry Nicolaou & Co Limited Chartered Accountants 21 Brendon Way, Enfield EN1 2LF Bankers The Co-operative Bank 1 High Street, Islington, London N1 9TR

STRUCTURE, GOVERNANCE AND MANAGEMENT

TrustGoverningfor Researchdocumentand Education on the Arms Trade (TREAT) is an unincorporated. body governed; by its Trust Deed dated 27 June 1990 as amended by a Supplemental Trust Deed dated 20 July 2006. It was registered as a charity on 4 July 1990.

On 17 March 2003 the Charity Commission issued a Certificate of Incorporation of the trustees in the name of "The Trustees of the Trust for Research and Education 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 than 12. New trustees must be suitably qualified and are appointed by existing trustees. New trustees are provided with suitable material.

Organisational structure

The trustees meet several times per year, as and when necessary. They are responsible for the strategic policy and direction of the charity. The day to day responsibility for the provision of services rests with the Secretary.

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Trust for Research and Education on the Arms Trade

Trustees' Report

For the Year Ended 30 June 2025

OBJECTIVES

The object of the charity is to promote research into the international arms trade and its effects, and to disseminate the results of such research.

ACTIVITIES

The trustees, in planning the activities for the year, have had due regard to Charity Commission guidance on public benefit.

The charity derives its income mainly from grant-giving bodies and from legacies and donations from supporters. The principal funding sources in the year are given in notes 2 and 3 of the accounts. The charity fulfils its objects primarily through awarding grants to appropriate organisations. The main beneficiary is the Campaign Against Arms Trade (CAAT).

FINANCIAL REVIEW

Unrestricted funds have increased by £74,538 which have been added to unrestricted funds brought forward, resulting in £98,388 (2024 £23,850) to carry forward. Restricted funds have increased by £92,533 which have been added to restricted funds brought forward, resulting in £150,435 (2024 £57,902) to carry forward.

RESERVES POLICY

Free Reserves are unrestricted funds £98,388 less designated funds £15,480, that is £82,908. The trustees have developed the following policy with respect to reserves:

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• (a) Running costs £5,000 Including payment for office space which we use, payment for management and other work carried out directly on TREAT's behalf and for the purchase or hire of resources used by TREAT or on TREAT's behalf. We have agreed that reserves are required to ensure we are able to pay for office space for one year, and to have one year's funding for all other items. .

• (b) Continuing Work £20,000 This includes items of work which TREAT is already committed to funding and would wish to continue, including grants made to CAAT and other bodies for ongoing work. We have agreed that reserves are required to ensure we have one year's funding for these items.

(c) Working Capital £10,000 This should be sufficient to ensure that we have the necessary finances to allow for a planned process of funding projects in accordance with our Donation Policy (rather than having to wait until funds arrive before any new projects can be funded). There should also be sufficient funds available to cover small urgent calls on TREAT as a funding body and to allow us to develop our funding strategy by proactively seeking new projects which we would . wish to fund. We have agreed that a sum of £10,000 is at present appropriate as a guideline figure, but that this should be reviewed periodically.

The foregoing would indicate that the approximate level of our reserves should normally be in the region of £35,000. As at 30 June 2025 they stood at £82,908.

RISK MANAGEMENT

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The trustees have identified the major risks to which the charity is exposed. These are reviewed annually and minimised as far as possible.

Approved by the trustees on veer te Se PRN Leb and signed on their behalf by:

‘Jon Nott Trustee and Secretary

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INDEPENDENT EXAMI_NER'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 2025 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 24 April 2026

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Trust for Research and Education on the Arms Trade

Statement of Financial Activities

For the year ended 30 June 2025

				2025	2024
		Unrestricted	Restricted	Total
	Note	funds	funds	funds	Totalfunds
		£	£	£	£
Income from:
Donations and legacies	2	3,750	95,370	99,120	75,361
Charitable activities
Grants	3	-	249,763	249,763	213,830
Investments
Bank interest		687	-	687	993
Totalincome		4,437	«345,133.	«349,570	—=-290,184
Expenditure on:
Charitable activities
Grants to beneficiaries	4	-	252,600	252,600	267,181
Support costs	5	400	-	400	400
Governance costs :	5	(70,501)	-	(70,501)	68,631
Total resources expended		(70,101)	252,600	182,499	336,212
Net income/(deficit) for the year and net
movement offunds	8	74,538	92,533	167,071	(46,028)
RECONCILIATION OFFUNDS
Total funds broughtforward 30 June 2024		23,850	57,902	81,752	127,780
Totalfundscarriedforward30June2025	11	98,388	150,435	248,823	81,752

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Trust for Research and Education on the Arms Trade

Balance Sheet

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|||||||| |---|---|---|---|---|---|---| |As|at 30 June|2025|TNT| |Note|2025|2024| |£|£| |Current|assets| |Other|debtors|Q|408,709|184,051| |Cash|at bank and|in|hand|162,536|64,248| |571,245|248,299| |Creditors:|Amounts|falling|due within one year|10|(322,422)|(166,547)| |Net current assets|and|net assets|11|248,823|81,752|

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||||||| |---|---|---|---|---|---| |The funds|of the|charity:| |Unrestricted|funds:|General|funds|82,908|8.370| |Designated|funds|15,480|15,480| |12|98,388|23,850| |Restricted|funds|13|150,435|57,902| |248,823|81,752|

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Approved by the trustees on ....¢. on PRN OS a... and signed on their behalf by:

Jon Nott Trustee

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Trust for Research and Education on the Arms Trade

Notes to the Accounts

For the Year Ended 30 June 2025

1. Accounting policies

Basis of accounting

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The accounts have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for twelve months from authorising these accounts and have decided that the charity is able to continue as a going concern. , ‘

Income

Income is received by way of donations, grants and legacies and is recognised once the charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that a settlement will be required and the amount of the obligation can be measured reliably. Expenditure is inclusive of VAT. Grants to beneficiaries include grants agreed for payment in future periods.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity.

Fund accounting

Restricted funds are grants, donations and legacies which are to be used for specific purposes as laid by the donor. Expenditure which meets these criteria is charged to the fund.

Designated funds are unrestricted funds put aside by the trustees for specific purposes.

Unrestricted funds are grants, donations and legacies receivable for the objects of the charity without further specified purpose and 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 charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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Trust for Research and Education on the Arms Trade

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Notes to the Accounts

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For the Year Ended 30 June 2025

So

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|||||||| |---|---|---|---|---|---|---| |2.|Donations|and|legacies|received| |2025|2024| |£|£| |Unrestricted:| |Donations|3,750|3,501| |3,750|3,501| |Restricted:| |Donations|3,140|5,860| |Legacies|- Swash|first interim|distribution|71,791|°|-| |-|Hooper|interim|distribution|10,500|66,000| |-|Other|9,939|-| |95,370|71,860)"| |99,120|75,361| |3.|Grants|received| |2025|2024| |£|£| |Restricted:| |The Joseph|Rowntree|Charitable|Trust|111,805|95,830| |Tolkien|Trust|105,000|105,000| |Serve|All|Trust|.|10,000|10,000| |Southall Trust|3,000|3,000| |Cadbury Trust|5,000|-| |Network|for|Social|Change|*|14,958|-| |249,763|213,830|

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Continued
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Trust for Research and Education on the Arms Trade

Notes to the Accounts

For the Year Ended 30 June 2025

1. Restricted grants, legacies and donations to beneficiaries

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			°		Joseph Rowntree			.			Network for		Total resticted	Total restircted
					Charitable		Serve All		Southall	Cadbury	Social		funds	funds
					Trust	TolkienTrust	Trust		Trust	Trust	Change	Other	2025	2024
					Restricted	Restricted	Restricted		Restricted	Restricted	Restricted	Restricted
					£	£	£		£	£	£	£	£	£
Institutional grants’
Grants awarded to CAAT:															.
For research programme					84,525	-	10,000		-	-	-	-	94,525	75,252
For the European Network	AgainstArms Trade's research		project		27,280	-	-		-	-	-	-	27,280	24,080
For its worker in Scotland	.	.			-	-	-		-	-	-	-	-	26,085
For its charitable work					-	105,000	-		-	5,000	14,958	-	124,958	50,000
For reference materials					-	-	-		-	-	-	2,837	2,837	3,351
For Training &-Events					-	-	-		-	-	-	-	-	4,099
For Outreach					-	-	-		-	-	-	-	-	26,226
For Browsers					-	-	-		-	-	-	-	-	47,937
For Unversities		;			-	-	-		-	-	-	-	-	7,151
					111,805	105,000	10,000		-	5,000	14,958	2,837	249,600	264,181
				;
Other grants awarded:
Drone Wars UK- for its research programme and work					-	-	-		3,000	-	-	-	3,000	3,000
					111,805	105,000	10,000		3,000	5,000	14,958	2,837	252,600	267,181

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Trust for Research and Education on the Arms Trade

Notes to the Accounts

For the Year Ended 30 June 2025

5. Support and governance costs

Support and governance costs
	2025	2024
	£	£
Expenditure incurred on:
Administration overheads, postage etc	2,000	2,000
	2,000	2,000

An annual payment of £2,000, as shown above, is made to Campaign Against Arms Trade. This is a contribution to administrative overheads provided by CAAT including photocopying of minutes and other trustees’ papers, staff time in preparing, postage, etc.

In the opinion of the trustees, 20% represents the support costs of grant-making from unrestricted funds and 80% of the above costs are attributable to the governance of the charity.

		2025		2024
		£		£
Support costs	(20%)	400		400
Governance costs:	(80%)	1,600	—	1,600
	Independent examination (Note 8)	2,800		2,700
	*Legal fees	(75,010)		63,910
	Other	109		421
		(70,501)		68,631

*These are legal fees charged to Governance costs in 2024 and 2023 that are now recoverable.

6. Trustees’ remuneration and expenses

The trustees received no remuneration during the year (year to 29 June 2024: Nil). Travel expenses of £109 were reimbursed to one trustee (year to 30 June 2024: Nil).

7. Taxation

Trust for Research and Education on the Arms Trade is a registered charity applying all its income for charitable purposes and consequently is not liable to direct taxation.

8.

Net outgoing resources for the year

:		2025	2024
		£	£
This is stated after charging:
FeespayabletotheIndependent
Examinerfor:	Accountancy Independent Examination	1,800 1,000	1,800 900
	Total	2,800	2,700

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Trust for Research and Education on the Arms Trade

Notes to the Accounts

For the Year Ended 30 June 2025

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	9	Debtors
							2025	2024
							£	£
		Otherdebtors - legal fees recoverable					408,709	184,051
							408,709	184,051
	10.	Creditors: amounts falling due	within one	year			2025	2024
			.
							£	£
		Trade creditors					217,622	73,847
		Loan					100,000	90,000
		Other creditors					4,800	2,700
,							322,422	166,547
	11.	Analysis of net assets between funds
						Unrestricted	Restricted	Total
						funds	funds	funds
						£	£	£
		Other debtors				408,709	-	408,709
		Cash at bank and in hand				12,101	150,435	162,536
		Creditors of not more than one year				(322,422)	-	(322,422)
		Net assets at 30 June 2025				98,388	150,435	248,823
	12.	Unrestricted funds
			.	At30	30June	Incoming	Outgoing	At 30 June
		:			2024	resources	resources	2025
			;		£	£	£	£
		General funds			8,370	4,437	(70,101)	82,908
		Designated funds
		Shadow World Investigations (formerly
		Corruption Watch)- for its project"AVery
		British Kleptocracy"			15,480	-	-	15,480
		Totalunrestrictedfunds			23,850	4,437	(70,101)	98,388

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Trust for Research and Education on the Arms

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Notes to the Accounts

For the Year Ended 30 June 2025

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13. Statement of restricted funds
Joseph Various
Rowntree restricted other Total restricted Total restricted
Donor CharitableTrust Tolkien Trust Serve All Trust ALaceylegacy Wil l yBachegacy — Reena Partridgelegacy Southall Trust Hooper Legacy Cadbury Trust SocialNetwork Change for Swash Legacy legaciesdonations and funds2025 funds2024
£ £ £ € £ £ € £ £ £ € £ £ £
Balance at 30 June 2024 - - - 2,500.00 10,000.00 22,764.00 - 16,000.00 - - . - 6,638.50 57,902.50 42,080.50
Incoming resources from donors 111,805.00 105,000.00 10,000.00 - - - 3,000.00 10,500.00 §,000.00 14,958.00 71,791.00 13,079.00 345,133.00 285,690.00
Transfer from unrestricted funds
relating to prior year adjustment - - - - - - - : - - - : : (2,687.00)
Resources expended (111,805.00) (105,000.00) (10,000.00) - - . - (3,000.00) - (5,000.00) (14,958.00) - (2,836.86) (252,599.86) (267,181.00)
Balance at 30 June 2025 - - - 2,500.00 10,000.00 22,764.00 - 26,500.00 - - 71,791.00 16,880.64 150,435.64 57,902.50
eee
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All resticted funds have been expended for the purposes set out in Note 4, being the purposes for which they were given.

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