ThE NZUK ufiK VOUNDATION
Th• NZUK U•k Fo•Dd•tkn• Tr¥J¢eo• innvol And fin•nclAI Jlaiements for Ibe ymr ended 30 Seplember 2024 Contents Pi¢e: Reference and administrative detsils Rewt of the trustees Report of the independent examincr Statement of receipts and payments Ststement of assets and liabilitics Notes forn)ing part of the financial ststements
Th• NZUK UAk Fffld•tl Rrferrnet a•d •dmknknTrilve 0[ ChArlty nAme ind Dumber Tr NZUK Link F(AUMlOn Registered chority numlr - Englarmj & Waleg: 802457 Registrred charity numlKr . New ZealAnd: CC36164 Trnlteog Sally MArtin (Chair) Jonathan Sinclair LVO Sarah Kennedy411 James Lowery HE Hon Philip Goff CNZM (Er Officlo) Dr Peter Bird Dr Sam De Silva CAtherine Ncsus HE lona Thomas OBE (Er Officlo) Bev8n Killick Sarnh Emilie Goodhcw Peter Phippen Anthony Httte Patron HRH The Princess Royal Presldent Dame Kiri Te Kanawa ONZ, DBE. AC Principal addre New Zealand High Commissio I Pall Mall E&s¢ London SWIY SAU IDdependent examiner Nichol&s Lawrence 61 Benskin Road Warford WD18 OHN Bankers Lloyds Bank plc (Piccadilly Branch) 39 Piccadilly tA)ndon WIJOAA
The NZUK Llnk Fo•ndatlon REGISTERED CHARrrY NUMBER: 802457 Report of tbe trurteej for the yegr eDded 30 ember 2024 The trustees pre%Dt their rewt and &c4)UDts for the year ended 30 September 2024. Objectiveg and activitleg NZUK Link Foundation objective is the championing and 8rowing of relationships between NZ and the UK. The NZUK Link Foundation Creates opportunities for ¢mss-culturnl exchan8e. learning and innovation. Servin8 to enhance the close relationship beNea) New Zealand and the United Kingdcrfn. The NZUK Link Foundation Awards grants which demonstratc our four goals of: cros5-cultural exch&n8e. Innovatio relevance and rigour within the fields of.. Educatio Txhnology. Arts and Busines& The Foundation's Awards were madc pK)ssible through the generosity of private fundin8 from donations ¢QryK)rate s)n50h1 tnj$ foundations and individuals. Structsr4 governn¢¢ and m#ngemeDt The NZUK Link Foundation fornially known &s The Waitangi Foundatio was established by a Charitable Trust deed dat&1 23 November 1989. The 15 current Trusttts nornially serve for periods of up to five years. Tn are able to reappointed for a further five years. The Board of Trustees includas the High Commissioners of both cA)untries as officio Trnstees with other Trustees being based in both New Zealand and United Kingdom to ensure the projects are efficiently sourcol reviewed and mutually beneficial. New Trustees are Selected use of their particular skills or interest together with a commitment to ¢nUrage relationships between NZ and the UK. The NZUK Link Foundation is managed by a single board in the United Kingdom with quarterly board meetings who arE arbiters of bow money is spent. There is a separate finance committe¢ who review and managers the assets of the Foundation reporting back to the board at each board meeting. The NZUK Link Foundation h&s no employees with administrative affairs managed mainly by the board and contractually paid administrative assistance when required. The Trustees are comfortable they have the infr&stNcture and support to ensure the current arrangcmen future pla and to deliver long-te meaningful change. Aehkvements and performance Dr Elman Poole MlC Fellowship The Dr Elman Poole Fellowship, which supports a young New Zealander to spend a year playing and studying at the prestigious Southbank Sinfonia Orchestra (SBS), continues to b¢ at the Centre of our efforts to promote artislic cross-cultural exchange. The Link h&s beeD proud to supporL dating bxk to 2006. This year the Link Foundation was proud to supprt two musicians: Noah Rudd aDd Toby Pringle
The NZUK LIDk Founda0 10-yearparlnershlp wilh Mcknn After an initial SUCC in 2022, in May 2023 we launched a ten-year Ixrtnership prowme with the UK Friends of the University of Auckland in 2022 to sponsor two New Zealanders to travel annually to the UK to intern with MctAren. The Interns will spend time with E(*th Mclaren Automotive and MctAren Racing, developing their engineering skills in a workplace at the forefront of automotive innovation. The scholarship celebrates the shared heritsge of the UK and New Zealand in motorsport and engineering, with Kiwi Bruce McLaren havin8 founded the company in the UK in 1963. This year's intern& Gabrille Sumner. Vicente Wishart and Alex Barbarich-Bacher were welcomed on their arrival in Dec 2023 by the Chairs of the UK Friends of the University of Auckland and the NZUK Link Foundation. Prior to their return to NZ in March 2024, a morning tca was held where they met the NZ High Commissioncr. the High Commission senior team and NZUK Link Foundation trustees where they thanked thc sponsoring bodies for making a ' life changing experience, w)ssAble Link Ixcture. In February. through the generous pro bono supp)rt of Trustee Dr Sam De Silv& his London Law firnl CMS hosted the first post COVID Link tAture. This w&$ a panel discussion with distinguished SerS representing NZ and the UK discussing the . Road lo Nei Zero - Whal NZ and the UKcan learnfrom one anoiher., in collaborntion with Kiwis in Climate.. The event was attended by l 00 invited guests who heard lively addresses from the panel and then participated in a very engaging audience Q & A session.
The NZUK Llnk Found*tlOD Report of the trustees for tbe year ended 30 September 2024 (coDtlnued) Financial review The attached financial statements show a outgoing of cash for YE 2024 of £15Tr (YE 2023: £2k). This is further broken domm for YE 2024 inlo ncl cash inflows for unrestricied funds of £20k and nei cash ouiflows from restricied l endowmeni funds of £177k represeniing by 4Tr of chariLqble grants and an 130k investhicni Incre in the UK Equity Charities Fund managed by Blackrc¢k. Overall ihc funds ofthc N7UK Link Foundaiion inCred by £4.Sk (YE 2023 31.5k) when taking inio accouni ihc unrcaliscd goins from its investhient in the UK Equiiy Chariiies Fund of £31.5k (YE 2023 33.5k) The plicy of the NZUK Link Foundaiion is io kttp its money in a mix of fixed ierni dep)sit accounts with Lloyds while ensuring money is available in a call account io meet ongoing operational costs and commiiithl granis. Additionally. Ihe NZUK Link Foundaiion invesis a percenthge of its fund in a designaied UK Equity Charities Fund managed by Blackrock. The balance as ai YE 2024 £ 447.4k (YE 2023. £285.9k) Signed on behalf of the Irusitts by: Is auzs 2f
The NZUK Unk Foundatloo The NZUK Llnk Founthtloo IDdepeDdeDt eumiDer'J report to tbe trustees of The NZUK Llnk FoundAtion I rep on the xcounts ofthe charity for the year amkd 30 Septunber 2024. which are set out on pages 6t08. Re8pectlve re•pon•lbllltle• of trujtea and examlner As the charity's tnte¢S you art responsible for the PTeparntion of the f£counts." you consider that the audit ryuirement of section 144(2) of the Charities Ad 2014 (the Act) does not appty and that an independent examination is neacd. It is my responsibilty to: examine the &counts (under sc%tion 145 of the Act): to follow the pr(Kolures wified in the Gener Directions given by the Charity Commissioners under section 145(5Xb) of the Act and. to state whether particular matters have come to my attention. B4siJ of independent exAminer'$ report My examination was carried out in accordance with the Genernl Directions given by the Charity Commissioners. An eMmination includes a review of the awunting records kept by the charity and a comparison of the acwunts presented with those records. It also includes consideration of any Unusu items or disclosures in the accounts, and seeking explanations from you as trustees eA)n¢¢rning any such matters. The procedures undertaken do not provid¢ all the evidence that would be requirnl in an audit and consequently I do not express an audit opinion on the view given by the Independent es8miner's statement In connection with my examinatio no matter h&s wme to my attention: (l ) which gives me reasonable cause to believe that in any material reSPt the requirements to keep acLx)unting records in accordance with section 130 of the A¢ and to prepare accounts which accord with the accounting )rdS and mplY with the accounting requirements of the A¢ have not been m¢ or {2) to Whic ID my opin10 attention should be drawn ID order to enable a prow understanding of the AX)unts to be reached 1610712025 Nichol&8 IAwrenc4 ACA 61 Benskin Road Watford WD18 OHN
The NZUK Unk F•ndAtlon St•teme•t of re¢tlpts *•d pAyme•ts for the yar e•ded 30 September 2024 2024 2024 21)24 Unrestrlrted Restrkted EDdofffflent FllDdJ Funds FllDdJ 2024 Totsl Fund$ 2023 TotAI Funds RYIpts. Expendable endowment Donations Dividends on investments Inter income 47.(KXI 47,INM) 12,600 13,524 13J24 9,582 13,324 13J24 10,180 Total 26,848 47,0(10 73,848 32J62 Payments: Expendable endowment Charitable grants & activities 47.0(Kl 47,000 12,600 424 47.000 47,424 16,706 Purchase of investments Governance costs 130,000 130,000 312 Support costs 6,384 6J84 4.914 Totsl 47.(KM) 177,000 230,808 34J95 Net of reeeipts I (payments) 20,040 (177,01)0) (156,960) (2,033) Re¢onciliation of funds Cash funds brought forward Casb fiwds carried forward 30,833 594 746,644 778.071 780,104 50073 594 569,644 621,111 778,071
The NZUK UDk FouDdtlo St•tem¢•t of amets Nslrflltkj M at 30 September 2024 Notes 2024 2023 Fixed sxts Investments 447.412 285,893 Currnit assets Cash at bank and in hand Cash on long tern] dew)sit 76,113 545.000 103,071 675.000 Total eurrent wets 621.113 778.071 Creditors: Amounts falling due within one year Net ¢urrent 2sJets 621,022 778.071 Creditors: Amounts falling due after more than one year Total net assets 1,068,525 1.063,964 Funds of the charity 115,986 594 951958 64,412 594 998,958 Restricted funds Endowment funds Total funds of the eharity 1,068J25 1,063,964 2025 Authorised to sign on their behalf:
The NZUK Unk FouDdatloa Notej to the fiDADdal stAtements for the yur ended 30 September 2024 MOvEmEr IN FUNDS FOR THE YEAR ENDED 30 SEIvfEMBER 2024 BAIAnee brought fornrd Income & EipeDdllvre Blttee rrled forward UDrutricted f4•d•: Gener fimds 64.412 58.359 (6,808) 115,963 Re8trlcted fuDdJ: PIe South B•nk income fund I Poole South Bank income fund 2 Poole income fund 2 594 (5.000) 594 22.000 (22,000) 20.000 (20.000) TotAI funds Endowment funds: Poole expendable South Bank endowment fund I Poole expendable South Bank endowment fund 2 Poole expendable endownent fithd I 594 47,000 (47,000) 594 13,958 (5.000) 8,958 490,000 (22,000) 468.000 495,01)0 (20,000) 475.000 Totsl ruDdJ endowmeDt (47,(MMI) 951,968 Totsl funds 105 78 100 25 Poole South Bank Fund l - Held for fimding for young NZ musicians to travel to the UK and Work train with the South Bank Sinfoni& Poole South BAllk Fund 2 - Held for fidIng for young NZ musicians to travel to the UK and worK train with the South Bank SinfoniL Poole Endowment Fund l- Held for education and VLK4tional fellowships for NZ students to travel to the UK for study An the fields of agriculture and horticulture. with an emphasis on foresty. climat4 conservatlon and the environmen( and scieD¢e and te£bnology. Unrestrirted funds - are available to be spent for any of the purSeS of the dwity.