The NZUK Llnk Fomlldatlon THE NZUK LINK FOUNDATION FOR THE YEAR ENDED 30 SEFfEMBER 2025
The NZUK LIDk Founthtion TrnJt¢¢s annual report and financi Btatements for the year ended 30 September 2025 CoDt¢nts Page: Referni¢e and admiillstrative details Report of the trustees Rep)rt of the independent exami Statejnent of reLzipts and payments Stslement of as and liabilities Notes forming part of the fmancia] statements
Tbe NZUK Link Foundatfion RefereDce *nd AdminimlIVe drtalls Charity name and number The NZUK Link Foundation Register&l charity number- England & Wales: 802457 Regist¢rcd charity numttr . New Zealand: CC36164 Trnstees Sally Martin (Chair) Andrew Roy (resigned P September 2025) Jonathan Sinclair LVO Sarah KennedY00d James IA)wery HE Hamish Cooper (Er Officio) Dr Peter Bird Dr Satn De Silva Catherine N¢sus HE Iv1 Thom&s OBE (Er Officio) Bevan Killick Sarah EmiIie Goodhew Peter Phippen (resigned I l¢h February 2025) Andrew Barkle Anthony Hoete (resigned 20th October 2024) Dr Logan Baber (appointed 18th March 2025) Keith Jolllthne (appointed P October 2025) Mark Finch (appointed 8th October 2025) HRH The PriD¢ess Royal Patron President Dame Kiii Te Kanawa ONZ, DBE, AC Prineipal addras New ZeaIand High Commissio KinDaird House, I Pall Mall Easu London SWIY SAU Independent examiner Nicholas Lawrence 61 Benskin Road Watford WD18 OHN
The NZUK Link Foundation Rderence and admijjithtlve detai18 (eoDtinued) BAnkerJ Lloyds BaDk plc (PiClIuY Branch) 39 Piccadilly London WIJ OAA Bank¢r8 ANZ Bank (Lambton Quay Branch) PO BOX 1896 Wellington (NZ)
Tbe NZUK Link FoundatioD REGisfERED cHARy NUMBER: 802457 Report of tbe tru8teeJ for tbe year ended 30 September 2025 The trustees prent their ryrt and accounts for the year ended 30 SeptemtKr 2025. Objeetives and ¥ctivitie8 NZUK Link Foundation objective is the championing and growing of relationships between NZ and the UK. Th¢ NZUK Link Foundation creates opportunities for cross- cultural exchange, learning and innovation. Serving to eDJwice the close relationship E¢tween New Zealand and the Uniied Kingdom. The NZUK Link Foundation awards grants ich demonstrdte our four goals of: CrossluT81 exchange. innovatioo relevance ond rigour VIAthin the fields of: Educatio Tcchnologyg Arts and Bu3in¢&* Th¢ foundation'3 Award3 wrrc made FK)ssible through the generosity of private fimding from donalion4 conrate sponsorship4 tnLsts. foundations and individuAI& Stru¢tur4 gov¢rnanee and maD4mellt The NZUK Link Foundatio fornjerly known as The Waitangi Foundatio was established by a Ckwitable TnL5t deed dated 23 November 1989. The 14 current Trustees norn)ally serve for periods of up to five yea[& Tntstees are able to reappointed for a fijrther five years. The Board of TrS includes the High Con]mi&0nerS of both countries as officio Tr$ with other Tnths being based in ix)th New Zealand and United Kingdom to ensure the projects are etYicient]y source& reviewed and mutually Ixneficial. New Trtths selected because oftheir p8rtÉ¢ulaT skills or interest together with a commitment to encourage r¢lationships between NZ and the UL The NZUK Link Foundation is Managed by a single board in the United Kingdom with quarterly board Tneetings o are arbiters of how money is spent. There is a separate finance conllnittee who review and malgerS the assets ofthe Foundation reporting back to the board at each board meetin8. The NZUK Link Foundation h&s DO employees with admirristrative affairs managed mainly by the board and contractually paid administrative assistance when required. The Trustees are comfortable they have the itifr&8tru¢ture and support to ensure the curTent arrangements. firture plaD& and to d¢liver long-tern¥ meaningful Change. Achievements and performance Dr Elman Poole Music Fellowship The Dr Elman Poole Music Fellowship, which supports a young New Zealander to spend up to a year playing and Sludying in the UK continues to be at the centre of our efforts to promote artistic cross-cultUr exchange. The Link has been proud h) support this effnrt with our fellowship since 2006. This year our Music Fellow, w&s double b&ssiSt, William Taber, who attended the prestigious Southbank Sinfonia Orchestra (SBS)
Tht NZIJK Ik FM•d•ll wilh M¢l4Tffl ith Ibe UK Fri¢th ofthe unlty OfAkIl1 New Ze4knvkn to tr1 iv41 in 2025 by the C&airs of the UK FrieT#ts ofihe Uniw of •J thè NZUK Link Priw to KZ ID March 2025. A IIMAl¥A t¢4 hcld ofmoyi H¢alih Fellowshlp. ID S¢rnembtr 2025. to offiCiY fellowth1 th¢ Heahb feuowTh will x¢ a NZ mri e4rly ¢4reer Tewrth inve19te differ¢nt of be41th The f181 StateIn kn a net out80ing of c&fb for YE 2025 of £78k (YE 2024: £157k). This is fUrtIr tTokeD &)wn for YE 2025 iDto thet cath infiows unrc5kncte4J of £5.Ok and outtlows from restrictal & endownent funds of £83.Ok rrprEsentcd by inVeI inc4)m¢ £34.3K 9JNYxts coa5 of £7.4K £IOk of charitable ants and a £ ILI)k illvestmenl irKrease in the UK Equity Clwities rfjawoj by Bl¥krock. Overall. the funds of the NZUK Link Foutmknion ItrC& by fA6.3k (YE 2024 £4.5k) wheD tskin8 itito xxount the ujttalixd gal% from its iDVUtsnent ill the UK F4uity Ch¥ities Fwid of £24.4k (YE 2024 £31.5k) The p)licy of the NZUK Link Foundstion is to k¢¢p its io a offiX terni tysl xcounts with Lloyds ¥thil¢ cnsuw n)orty is available in a call to lgOing okyrutional COAS 8rMI committed grant& Additionauy, the NZUK Link Four0 inve#s Facenla8e of its fund in a dlIDad UK F4uity Ch*ities Fund by Bl#krrxL The balarlce &$ al YE 2025 £571.8k (YE 2024; £447,4k) Sisn¢d on bch41fofthr trus by". Dail..
The NZUK LiDk Foundation Independent exAminer's report to the truBtees of The NZUK Link Foundation I rcport OD the acwunts of the tharity forthe year end 30 September 2025, which art set out on p8¢8 6t08. RWeeti TYspob•lbUlilu of truiteM and eXlIatr As the ch8rity'S you thtf TWK)nsible for the prep8ration of the wxounts: you consider that th¢ audit rquirement of wtion 144(2) of the chariti Act 2014 (the Act) does not appty and that an independent examination is needed. It is my Tesponsibility to: exAmine the accounts (under section 145 of thc A¢t)' to follow the pr(eljureS Specifi in the G¢n¢rnl DI10$ 8iven by th¢ Charity Commi19CES 145(5Xb) of th¢ Act and. to statc whether particular m4ttm have come to my attention. B*sis of iDdependenl report My examination carriryl out in accordanc¢ with the General Dire¢tions given by the clty Couunissionw5. An examillation includ¢s a review of the aLwunting record5 kept by the ¢tlty and a comparison of the accounts presented with tlK)se records. It also includes CODsiderntion of any unusual items or disclosures in th¢ accounts, and seeking explanatiODS from you as trustees LM)ncemi08 any such matters. The procedures undertok¢n do not provid¢ all the evideDC¢ that would b¢ rwuired in an audit and consequentty I do not exprw an audit opinion on the viww 8iveD by the IDdependent exaDiinees stalement In pA)nDe£tion with my examinatiofy no matter has corne to my attellti{: {1) whi¢b give5 MÈ re)nable Ca to beli¢ve that in any matsrial Tespect the UlTern¢nts to keep a(xountin8 rtords ID Recordan with sectlOD 130 of the Act and to prepare accounts which acrd with the accounting records and comply with th¢ accounting rquirements of the ACL have not been meL' or (2) to which. in my opinion, attention should be drawn in older to enable a proper understsndiDg of the aGGounts to b¢ r¢ached 2710712026 Nicholas LawTence. ACA 61 Benskin Road Warford WD18 OHN
The NZIIK LiDk Found411on Statement of reeeipts and PAyments for the year ended 30 September 2025 2025 Unrestricted FuDdb 2025 2025 ReJtrlc¢ed Endowment Funds FuDd• 21125 Tol*1 Fundj 2024 Total Fllndj R¢eelpts: Expendable endowment Donations 10.000 10,0 47,000 4,370 1.156 4J70 16,731 Dividendg on investments Interest income 15.575 13J24 56 18,802 18,858 13J24 Totsl SJ82 44J77 49,959 73,848 Piyments: Expendable endowment Charitsble grants & tivities 10.000 io,( 47,IMIO 10,000 iO.(K 47,424 PurclJ&se of investsnents Governanc¢ ¢osts 100.000 100,0 130,0(H) Support costs 557 7,441 7,998 6J84 Total 557 17,441 iio,000 127.998 230,808 Net of reeelpts I (payments) (78.039) (156.960) 5,025 26,936 (li0.() ReeoDeiliAtjOD of funds Cash funds brought forward Transfers between $0,873 594 569,644 621,111 778,071 (28,843) 29.801 (958) Cash fuDd$ elrried fonvard 27,055 57J31 458,686 543,on 621,111
571,79J 447,412 9(072 445.IXKI 7QllJ 545.CiKI 543.on 621.113 within one ye 1.114.867 i.(k4&525 1.114.867 1,068.525 Funds of th¢ ehartty 57,144 57J31 Endowment fu 931J08 Tolal fnadl of ihe eh*rlty I.IIW7 2026 2¢- 107 { 26 Authorised io sign on their br
The NZUK Link Foundation Note• to Ibc JtatemeDts for the year ended 30 Sept¢mber 2025 MOVEMENf IN FUNDS FOR YEAR ENDED 30 SEFfEMBER 21ns BAlDce broughi rorwnl Itt¢ome & ExdItre TrAn•ferJ BAln¢e between cArried forward UMreJtrI fond#: General fimds 11&9 7,077 (557) (6S339) 57,144 Re8trICt fundj: Pwle income fund I 594 (59) 495 1.030 Poole income fund 2 17.131 (3,048) 16.817 30,91)0 Pwle income fimd 3 27.246 (14,334) 11489 25,401 Totsl rejtrieted fuDds Endowment futsdj: Poolc cAp¢ndabl¢ endowment fid I 44J77 (17A4A) 29WI S7031 8,968 (958) 8,010 Poole expendable endowment fund 2 468,000 11.M3 18.248 497.691 Poole expendable dowment fund 3 475,000 11.443 (10,000) 18248 494.691 TotAI endowment Dd8 951,968 22.886 {io,o(M)) 35J38 IJKM)J92 Tolxl funds 25 74 Unmtricted fund8- available to be spent for any of the purwys¢s of the tharity. Poole Ille funds l gnd 2 and Poole expeDdble endovrnient fund8 l aDd 2- held for future awards to NZ musicians to assist them for a periiMI of time in the UK on a programme to help fither their career and to foster relationships in music between NZ and the UIL Poole income 3 And P(bole expendable endowment fund 3 - held for future education vocational fellowships for NZ students to travel to the UK for study in the fields of agriculture. honiculDJre, foresty, climat4 conser4ation and the environmenL and science and texhnology. Expenditure that can be direLtly attributed to a particular fund is allo to that fiind. Expenditwe that cannot be directly attributed to a particular fund is allocatd across restricted and unrestrict funds in prortiOn to th¢ capital value of each fund at the start of the year. This basis reflects the cost and time Spent managing the funds and activities &ssrtiated with th¢m.
The NZUK Link Foundation Nvt¢s 10 th¢ IID4nclal Jtatements for the year ended 30 September 2025 Trnnsfers betvrtei Following a review. the Tru#ees have decid&J that income earn from end0ents, which MTS previously a]located to unrestricted fimds. should now (from Febnthry 2021) allocated to restrided income fimd5. Accordingly. prior year income been Teallocated from Unrrithd fijnds to r¢stiicted inc4)m¢ fund Analysis of hnds As at 311092025 Unrestricted Funds ReJtri¢ted Funds EndovrnieDt Funds Totsl InvMtmeDts 30,089 541.706 571,795 Cash on long trrm depwt 445,000 445,IXMI Cash at bank And on Iwid 27.055 57.331 13,686 9&072 Tolal S7,144 57J31 I,(KKbJ92 1,11£867