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 Fffl*d•tl
Rrferrnet a•d •dmknknTrilve 0￿[
ChArlty nAme ind Dumber
Tr NZUK Link F(AUM￿lOn
Registered chority numl*r - Englarmj & Waleg: 802457
Registrred charity numlKr . New ZealAnd: CC36164
Trnlteog
Sally MArtin (Chair)
Jonathan Sinclair LVO
Sarah Kennedy41￿1
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￿)n50￿h1￿ tnj$￿ foundations and individuals.
Structsr4 govern*n¢¢ and m#n*gemeDt
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 ¢n￿Urage 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 M￿lC 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 Founda￿0￿
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 S￿￿erS 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 inCre￿d 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 tn￿te¢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 reSP￿t 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
R￿YIpts.
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 FouDd*tlo
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
MOvEmE￿r IN FUNDS FOR THE YEAR ENDED 30 SEIvfEMBER 2024
BAIAnee
brought
fornrd
Income &
EipeDdllvre
B*l*ttee
rrled
forward
UDrutricted f4•d•:
Gener￿ fimds
64.412
58.359
(6,808)
115,963
Re8trlcted fuDdJ:
P￿Ie 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 fi￿dIng 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 pur￿SeS of the dwity.