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 Adminim￿lIVe 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 KennedY￿00d
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
(PiC￿lIuY Branch)
39 Piccadilly
London
WIJ OAA
Bank¢r8
ANZ Bank
(Lambton Quay Branch)
PO BOX 1896
Wellington (NZ)

Tbe NZUK Link FoundatioD
REGisfERED cHAR￿y NUMBER: 802457
Report of tbe tru8teeJ for tbe year ended 30 September 2025
The trustees pr￿ent 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: Cross￿luT81 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 con￿rate
sponsorship4 tnLsts. foundations and individuAI&
Stru¢tur4 gov¢rnanee and maD4￿mellt
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 Tr￿S 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 p8rtɢulaT 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 mal￿gerS 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 I￿k FM•d•ll
wilh M¢l4Tffl
ith Ibe UK Fri¢th ofthe unl￿￿ty OfA￿kIl￿1 New Ze4knvkn to tr￿1
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 offiCi￿Y fellowth1￿ th¢ Heahb
feuowTh￿ will x¢ a NZ m￿ri e4rly ¢4reer Tewrth inve￿19￿te differ¢nt of be41th
The f￿￿181 StateIn￿ kn a net out80ing of c&fb for YE 2025 of £78k (YE
2024: £157k). This is fUrtI￿r tTokeD &)wn for YE 2025 iDto thet cath infiows unrc5kncte4J
of £5.Ok and outtlows from restrictal & endownent funds of £83.Ok
rrprEsentcd by inV￿￿e￿I 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 It￿rC&￿ 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 l￿gOing
okyrutional COAS 8rMI committed grant& Additionauy, the NZUK Link Four￿0￿ inve#s
Facenla8e of its fund in a d￿lIDa￿d 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 eX￿lIatr
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 DI￿10￿$ 8iven by th¢ Charity
Commi￿19￿CES 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 c￿lty
Couunissionw5. An examillation includ¢s a review of the aLwunting record5 kept by the ¢t￿lty 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 ac￿rd 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
BAl*Dce
broughi
rorw*nl
Itt¢ome &
Ex￿dIt￿re
TrAn•ferJ
BAl*n¢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 fi￿d 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 Ill￿￿e funds l gnd 2 and Poole expeDd*ble 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 pro￿rtiOn 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 end0￿ents, 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 Unr￿rithd
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