SANTANDER UK FOUNDATION LIMITED A company limited by guarantee Company No. 02509711 Registered Charity No. 803655 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 llllllllWIIII *AaBKN5FT 24108r20?1 COMPANIES W)USE._ #18 SANTANDER UK FOUNDAMON UMITED- 02509711 ANNUAL REPORT AND FINANCIAL STATEMENTS 2020 COPfftNTS PagE Referencp AdM￿tstratr￿ dela ftewrt of ihe Trv5tre5 I1NJEpe￿l￿t audit￿5. fwL¥t S13tsnrni ol linanc￿l a(t1WtY I￿A)- irKorw)ratsr*a 5 irK0￿ 3rtd eX￿n￿llLYt accctsii 8alance Sheet Notes to the Financial str￿Ments SAMtANDER UK FOUNDATION UMITED- 02509711 REFERENCE AND ADMINISTrATIVE DETAILS S Will {apwniEd 3 Fe￿thiry 2020) lapwnied 22 Apiil 20201 lapwyfj￿d 22 Apnl 2020) Jaty ￿ a basis. The Tiustees do not ha* a maximurn k(v4th of olfKe. A ￿j￿r￿sS k4an arKJ atyeed ty the Tntstees f¢y eath finartial yeaf. A 4uarterty rep)rt examines t*rf(Kmon(e 39ainst the agreed budgEts. l Tru5Tr25 are w(Y•iLW an ￿dL￿￿Jfj Pack (￿trinIty a ccw c4 FtyJThYètKJi"s ctyctr**& pric¥rt*s rnsi feceni Anft￿ Pep)rt èThl fina￿*71 $tsttYr￿nts. F{Mmdi￿ Secretsryv+il then ￿￿(Us￿ backgrtyJsNI cut[entb￿Jfft$s plartd Foun¢laiw)n. The Tr￿tee5 met on S dwng the year en(￿d 31 Dtsniv 202012019". 5} Al ao raiifEd at a r(*lin9 of Trustees. A of tsvo Trullees ￿thE minwnum requiremEni Grantsolthw £IO.(ts)areakV(A*d TrtsteeaThY of ober £30.Cthare aryioved TnJ5tees. The F￿hdat￿n.5 related part*s(or￿ of S•)ianderUK pt CèterAkn limited. 5antander UK GIWP HrAthry plc and Banc¢ Santandel SA. tw the virtue ol Banto SA'S (AweFship ènd ¢￿trol ol san￿n(￿r UK Gioup H￿In￿ Kt. maJo)ty ol donatithis into ihe Foundati￿ are from SaThtsnder UK ￿(. The¥in9.lencin9re9utsI￿he$l8￿tshe￿ In 2019 wuired Ihesaniander UKFrAJndatkin ioeststrAthan ￿mS-Ien9threlltIon5hipNMth sanIar￿ UK plc. T￿rel￿e. Fowdaih)n ueaied a Serbxe W Agre￿i￿t trj pay Santand2r UK plc fN the seNces pr(Mthd by the company io supp the Foundaticrtactmties. TheoiherreLèitd party s￿lian￿rAsSe1 K4wgeff&ii UK Imiied. rnanawthe Fowmlaiiw'sifnwtment pcrtldio. The Cfwny's nsk mana￿￿1 frxuSe$￿ the m4orarea50f (￿lL IKJuNYtty. fflarketry￿d rwatrjnal risk. ￿sk marwffeni ts carried by the ¢enirol mathi9tmwi ol 5antsrth UK fy(yJp Autr￿￿ frijrn the Santandei UK GTfAJP HoldifMJs plc Board to the Chief Ey*(ulive OflKer and them to tr*ir difert repoFty ol authNity ￿ to Fwmal 5tatvJiry COMM￿ee5 a￿ maintained lor effedNe rnanwent ofthgrsghr Their a￿￿yIty ts deri¥rd from the I￿are ￿te￿I*d toa55i5t. The major risks the charity ￿ ex[￿ to, as Kjentir￿d TIu5rees. a￿ grant Ira￿ repulatiLwI rtsk TheEe are 5ubiEct io rE9ular re￿ew. The naiure of ttr￿ I￿5 and the sy5terns to miowe th2m aieakn 5tycr ￿ legu￿1 I￿Je￿￿￿E￿I MaThis￿en[ reéiEw. li Is anbC1￿&￿ thai there rnay be WheleakwK￿l(￿ re(eNed maywtherin pan¢rwhL4e. t(*itsin wtnje di￿0￿re$￿VIlh the pJiwse to low ihe 3pplicani to obrèin lurKJs frem F<¥JThJatNY) ihieugh Thts ts ielerted 10 as grani Iraud risk and Ihts is managed by onty awarding grants ￿ W￿LeTEd chaDue5. iommLnlty Inle￿%1 tLYnpan*arnJ trethi ihis y(Mdes a fitsi sia9e ol due dih9ence. Ae9lStwed charitie5 ihaisuL¥nii reguL3rfinantJal STèiorywrs ènd h&* no ihe rthani ère eli91b￿ lor Ivndin9 Each giani is m*Ye vk4 a ftymal grant offei wh￿h oudinÈs ierms of the awafd each chèiity 6asked a Trttsiee dedaraiKMI thai cwfiim5 gr￿1 wa5 Used f whdty chantsb￿ putPDSÈS ihai It was awarded l(x. We èsk eachdbjhty iosutmil O one èliw a 9ièni $ made 10 conlirm trt details of the s*ndiry lan impaa rewtl The ￿￿11 ol tr* mède. 4) 10 £5.10). nwns ihai the Folkndau￿ is confid*ii Ihai ihe risk In are apwowate and adwtE 10 ri* w￿re ￿ Fwrthltsl s made ￿are of a fraud rt aw￿ frfym ￿￿t￿ale thanratrje ouse5. The Fowd8tion èlms to ensure Ihat all the gants that v* make are used fu thw¢ Inten￿ cN4ritstrJe wip05e kn Ca¥￿ vthere ￿ telwe grani ha5 tsken place we wll re9￿1 iepaymefti ol the ￿ant wll rK•i ar￿p1 Itstu￿ appkatKxsfr(wn In(Ir4hJual awKemed. These will then L* tO99ed * an incident rtgLsiered vmih S3niaTrler UK Repuiatwal iisk foi the Feundaiio) c¢x)95ts01 kxs rvAffting frtym (limwtothe fym's retxrtabrnthrou￿ r￿n-C￿nFj￿n￿ w9th regulatK)n. thu5 leadin9 10 I￿[￿aSt￿ ie9uL8t¢YY Cests. r6k thic4Jgh CUDrAkinEe with e￿511r0 iegulatK>I and by kee￿n9 up io date th developments In its iegutstory en¥wofMl￿L SANTANDER VK FOUNDATION UMtTED- 02509711 REPORT OF THE TRUSTEES (continuedj Oty'ectiwsand aCIN￿@S The tharitable of F￿￿laDOn are ro giants arys hdp pe¢* ty m*itW (5onatK)n5 to appropriate chaiitab organisatiN5wJikin914ithin t￿pL￿Al5hed Charita￿e￿￿(t￿* &rKe2016. thoSafitsnL*I Founda￿ hltlsupt￿￿￿IhPD￿cOVery Prowsvategy arding LYb*r E9 t￿￿1￿1￿ to mtye 2.lw £auseswia the Grants progra￿¥￿￿. In 2019. the ttUStees decided to r￿￿wlts Slraiegy toasse55 ¥thÈthÈi rt ¥wJbJ eltn 9￿al* Im[%Ktthr￿￿￿t the crmMUDit￿ Thèreforè. In FÈbtuéry 2019. Drto¥ery Grants pro￿am￿ was termirwied ThrwhoA the *raiegt rF* FWndèiV￿ ttvsteesrH) fwl. lurther wthrMfvJ ITr* Irwfity 9ap (￿sider1Th9 findin9S. Ihe FoundatLon Irvstee5 deoded 10 def￿@ a5 a charitaye stièiegy dvrtknpment ol a nÉw grants prtyrarn￿. the 5aitarth F￿nd31￿ D41￿11 & Financial EmpJv4eremeni Fund. focused on supwrtirs thai t*lp peor4e to beccrt* digtsiiy and fina￿alY emkw*re¢ The ￿913￿me ¥4ill t* L4uIKhed In Q2 20ZI ard licwde￿ a 9￿¥tel *1 of a55esswoniafid ai enharKed reL7￿￿hlP thegranTres In 2020 Ihe In1ernats￿aI ￿4￿h hewty iTryaaed all aspects of 5wety. kn the UK. theihaiity sKtorwas urthr eTh)rfflou5 ye55ure to sw?n the m￿t vulneraNe peop￿ Whi￿ tsr ￿tO[l* sourte5 re￿L￿ed scenarK>. the ￿NJal￿)n t{L￿ee5 a9ieed to prowde grants to Wppryl Age UK Athe*rw's knety Santandei F{￿ndat￿n fU￿dIng as95ted both chariiieshvtK>were on the frontline of otter1ngvilalsupp￿ lorb0th0￿erpeop￿èTh￿ ￿￿￿ntra A9t UKarKJAtrh#T￿5SOcEty￿o￿a kng historyofh2lpngvulneraNe peop￿ ￿ the (￿nM￿nIty and the $￿ed both arvj rw mi￿(￿e5 to tho* ¥**K) fft éi even 9Raler nsk ol aiion. The Sèntarter UK F(¥jrtdat￿ (c*min￿ 10 wiandv UK (￿a￿eS Drffjai*y6 ￿￿e. The kW1￿me is focused on 5UP0tr1in9 ha¥e undert*enfUndrasir￿ ackntr5ftyUK le9s￿e0￿aA1*k Tr*cdWue5(an 5ubmiianap￿v1h)nIQ lhe5c￿me for Ihe UK registeced ctsnty to re(W%*an￿￿K￿w s￿7 ty wdyol a mat(hed dwioi. In 2020. Foundatk)n awaided 577 nyiched (kylat￿n requests to 376 UK legste￿I charthe5. The Trust2es conlirm that ihry have ￿ferred to the guida(*e (orna￿d In ￿ Chamy gults￿￿ on public benÈfrt when revie￿ng the Foundaton'5 airns aryj obJecENeS. In lulwe in 5ethNJ IF* 9lant ry4kin9 fo￿ year. Truste￿. grant making acti¥il*S have benelit to tt* l*r*fKia[￿s￿ ￿ c147rityand thE C%ant mating rdicy Th2 chaii&)* wioriiie5 fu 2020 vwe to hdp UK skil￿. krowkdge or Pr￿￿Je inntyaD¥e solutKXB to and to 5UWUt stsft fL￿￿k￿r¥j our Matched Scheme of Santarthr UK Gr￿p. T￿￿ Tiustee5 h￿e p(MEr lo pur(hM itfftstrnents and *e c¢yNdwed fit of thE Fwnd*th. IheexceptiL ol derNakn¥*s The T￿slee5 c¢yty)tywrh rhe CW CLYnmsyon"$ 9lll￿ tsi irtvesiwts The Foundaitsi's Inves￿eThi strate￿ s a Witof 50% equiivaAJ LIK i￿(￿re to ¥li•ta broadty baL3nced pry11￿10 seekiw modeiate gr(Wh. Furtt*r C(NKeiniThJ the wf(KmarKe and ￿lI￿re of the irye51rrtht can tE fwnd vhihin th￿ 5Ktx)n urvjw unresU￿￿ed lund5 oTbd note l. The FoundalK￿lr*￿e 9iantsaThY mai£hed ¢*>wi*ysof E3.311.93712019' El.gW6.291)*l It)ial ￿rg ¢he TrtnLKnber of9rants maiched donations awarded ￿tre 581 12019". 1.95)) and theSeV4￿ maL* for the charitable 2020 TOtavI￿(0 2019 Totsi ¥alrtl£l Numtvofgrants Numbei ol granis Jnd donations C¢vid-19 Gran15 We3iih S¢cwl Incluyon Othei 3.(M.l) 164.935 144.456 241 331 491.841 1.468.820 25,630 1.986.291 637 1.265 49 3.311.937 In 2020 the COVID-19 heavily Irrwed chariiabk Initiat￿. Cfy79ts1in9 the elfea of Wlth crws In SfK*ty and dL%PiCWrtl￿¥ pressure ￿ Vul￿ iatde gr￿p5, the F￿da1￿ tr￿tee$agceed lo￿£￿e ￿a￿￿tr￿J1 of hW)hervaI￿ cowred 10 2019 including Iwo ggnilicènt grants to supp)rt Age UK aThYAtrheinw"$ 5c(*ty. vt* ChanTh￿ %4tre Se￿(ted th* ro fvif crucwl ¥sYrt h)n hdptng peorle 4nd ihGse affected dementia T￿ ￿ wps ￿e Ihe mst affeued try Ihe dwsesar¥l atso heavty ￿￿￿tte1 ty the socol Isdail￿ measures thai crea*d a huge lack ol suppm. Treiefue. the FrA￿dalK)n awaided c￿d-19 GraDts £1.5 mill￿7 to AlzhwnErfs SoDety and E1 5 million 10 Age UK. Ini￿aINe wasa150 5uppMe¢ bya Nrluniew)ThJ (￿p8￿n lor Santsrthr VK Wc crJleague5 (Xtr 3.50D San¥nOer emph¥ees partKip3ted E3 rrAll1￿ awarded io Ap UK Alzh•merfs ￿￿ty eThibled btrth dwntse5 10 apwox 370.OLX> peq)k. and I Santardèr UK PIC wlunteèrw piogrèrnrye awox. 5.520 peoE4e have been SUN￿ed Thi(XMJh the Staff MalC￿d t)DDatson scheme $7712019 1.69415ts11 dona￿￿5 kn charli￿v￿re maLthedduring ypararrxyjniing LO E311.937 12019.. £1.464.7151. SANTANDER UK FOUNDAMON lIm￿D- 02509711 REPORT OF THE TRUSTEES (continued) Ih@ piincpal ￿)urceS of fundrpg d￿8￿)n5 of £4.(b).(KNJ 1201*. £3.(￿.(￿ ) from Santsnts iK pk. 35.￿{2019.. £nill from Sani LorKlon 8ranch and ￿￿[￿ent irt(NT4e of E351.610U019." £415.0491. IMwrtas￿rr¢nt￿d e4alk4 Olhei than￿off maiche¢ (knaiK)isall pOyff￿tsare i4x*dvrfh a grani fee￿ackliMpXI repxl ftymaskin9 the£h¥ty to oullin *ai 9￿111¢al1veand qvafttitstfve ffnparts1￿ grant h45 hadot t￿end of the grant FelK>Y. usualty0￿}ear Thts is ieivmed bythe i*nefi(iaryalon9 wlh an offKial ieceipi A ofv•hok Ir￿Ka¢￿S ioassess the eN&t￿trEsS ol the 9rants w09[a￿￿￿e and what intended and UThintendeO imwcts ha* resuiied r¥Jr 9JFP)rt Ths Is wed asststuw TTustee5 %*t*n c(y&thrin9 fuluie wanl fequests made by the same t* ymdar or9aniWOIS IftèrK￿ The ObJert￿e$ ol ihÈ FtyJndèiion are to suppm Osatrdarttw in UDi￿d Kry1￿ a(h￿￿Ed thiowh th￿ core wo91arn￿O iched dOnaT￿nS èrNI 9rants. ￿ matched >JppMs fundraNryJ of Santan(*r UK *npk)hEe5 and in the year £311.937 12019. É1.464.71 Sl ol ILndiw was to to fv strategK revM¥ In 2019. Discovery Giant piogramrnÈwas terminaTrd. The FOU￿al￿￿1 is cuttenty YLYkin9w the ofa w4Yants wogrammE. 1hE$antsn￿r F(xJndation Dvjilal 8 FIDanckil Emwweiement FWKS, ff￿5ed p[l4￿ts that Wil h&> 10 drfjitally finanikilly emp(Meretl. The W PlQ9ran¥ne will be13uDched In Q2 2021 arwj iic¢N)sithr5 a greater W ol IMp￿laSSess￿￿nl and an en￿1n[ed reL7[￿lp the grBnTre& The Feundation satyht to fund ILtal ptopcts to Wp twle IrDprth* skilk. kll(Y￿￿ge or piowdE inThwats¥p 501uiion ty 5(Kial tha1￿￿5 and th￿ thr(MJgh Grants tsrgei to 5fft￿l. kKal thanbe5 Dunrmj 2020. ￿ fU￿￿g 12019.. E346.2921 wa5 proknided To chaiitie5 WTder prograTU The fin￿(￿1 perf(￿a[￿E for the ￿ar ￿ set out I l of ￿rth1 rw f w(Mded Saniarth UK Kt. TF* 6aLw respL￿lIe forenteriryj ￿10 5erYKe contracts to cover the cost5 of 8dmihistrètitr) ol the ctrkiriiè￿e aClTril*S. The TsusteesconiinL* 10 W wihcafii Yr*Stt￿ts an ar#K*l tOgJPt¥M the chètity. rt is tt* F¢yJr¥klth'S pJlw to er15ure are av•laNe to mtrrth of gant•4*rds at arry lin* resernp. Al 31 t)ecemi*t 2020. the to￿ fut￿ of l￿F0￿￿￿at¥Jn were £19.539.18812019' £18.178.728) En(hMnent funds These a￿ Fermaneni funds ie¢v5eni fL¥Kts tr* Ch¥ty frtyn rt demes in*siwt Irtcor￿. There are t¥¥0 end￿￿onI funds ijne ￿ a fe5t[￿ed fund Ithe AHA ￿tfO￿l and the oiher ￿ an unre5trKted eThYwneni fvnd The m¥e5tnYni Incojrt lor ihe kndsa[E Included wthin ￿5t[KIe￿ unre5tt*led ￿ it* SOFAaThJ ￿arKe Sheet based ￿ IhE fund5 fforn whKh the inc(yne is de￿ed ReArKthd fund5 The Irwne generared thL5 fthid ts frrffi YKt>T* AHA pytfc4Ax resirKtel can be used loi rya)t$ 10 chariti* Wfrtin9 }x)U￿ry reL4ted c•Jses. Unre51ittÈd fur￿5 These represent fwds wlich are expendab￿ èt tr* (hthtm of ￿￿￿e5 in the fUrt￿ran[e0f ￿ i*r£tNe5 of ￿ c￿rity. SKh lunds rr&ly be t*ld in (WL*r to fina￿e both arKJ SANTANDER UK FOUNDATION LIMITED. 02509711 REPORT OF THE TRUSTEES (continued) Santsrwjer A55et K4anè9Emenl UK Limited ho5 Iwd 9rKe sept￿￿1 2(M)5 Tr ￿nda￿￿￿'S è5sets ale irNesteO In a cornbjnati￿ Of￿$$￿11t￿.Irack￿g)C0￿ahe1r￿lff￿t fuThJ5 Fu 12 mDnihseTh*d 31 C*embw 2020 the return of tk Aggwalpd F￿nd las è meawie ol wyJ5 the Val￿ of the UK irfe5tr￿tsI wa5 2 3% 12019. 4.7%). The fU￿j ccntsn￿5 10 a 5taNe reivrn lor the FoJn¢aiiw ar￿ ts£ow*nt ￿￿th Ihe F￿￿￿tion'st1￿￿0atKx)S 10 see* Mr￿erate gi(h¥th from its irNe5tment wtlolio Fuwre In january 2019. Fts)r)dathJ) yarted a stiategK exokme can dek*r rn￿e w+ihin comrnunilies The revth enhanced the F￿n￿alian Gtrrtrnance SIr￿[ure. thfineda rw purrme n lir* wth the weiMrcnmeniandchal￿nge5 which we thid been facing and new strategK pr09T￿rreS aiTh¥ng io atnplffjy￿rii￿tntsutJL￿ ￿(￿m￿nI1*$and ihE d￿￿1￿$ 5UPPOrt. Due to the reV￿W In Fe￿ry￿ry 2019. the Four￿ats￿ Trustees (*(Kled to pause the D￿(th￿ry Grants s[he￿￿ In or¢kr to fcÉus to rewew and Oplimiie thè development of the new strat￿. ffvOu￿￿t the stsate9C It¥￿w. the trus￿￿5 ¢(xKluthd thai the *k of dwitsl and linarKial &kil& could a substant￿11 neg3tNe a pw50D's lrfe and firki1￿4 w￿lf0￿{￿j. Theief¢yÈ. F(NjfKJat￿ twsiees dÈtKJÈd 10 dèfir* ès a new chafiièb￿ straiegy the developT￿l ol è ￿ants pr(l¥￿mE f(￿u￿￿5 tr) sukwDng p￿j￿ts to hÈlp peoplt to tÈcc*ne dvjoally and IinèDc&alty etnwwed The piogramn* *il be 2021. ètwj rt 9Oatw W of assesgwi and èn en￿￿nced idati(￿S?￿p ih the gr￿lee5. A5 of the straiE9t reknv. Itk¥ Foundakn identrf*d tF* 10 ￿￿rease or￿ty of ￿ board of Trustees Pr•O￿ty. 0￿Y Santsndpr UK plc emph)yees bec￿ members Triel(Ye. tr* ID Q4 2019 the re(wnff*ntofexteir￿l tru5tee5 to JDin ihe bDard ki Marh 2020. rwo independent Iru5tee5 44pre ap￿ntsd. of them as Chaii The F&JndatiOn e¥>2cts to bTKfease ihe range of valLhab1e ski115 a￿1 exrÈr*rKe. e5￿ck111y8r0Yn￿ Ihe d￿￿ty 5ecior be51 prm The F¢K￿Jai￿Jn al￿ In the first q￿rt* of 2019 Wnproved key s rKLKe¢ures wch asa ol serwre. iisk tE95ter. IrNe511mlLpdKy. COnfi￿ts of th'(y. TrLSt* 1ndl￿u￿ aTrJ a sale9uardiDy poIKy Rdatrd r￿ated ￿rtIeS01 5ant*dei UK F￿￿)dat￿l bffMieOa￿wrtydwed iobesaTht￿UK GrwpHthJ5*. Santander UK F4c. cater￿￿￿ Limited rMJ eaDco SantsfKYer ￿ atKJ I￿r t(gether￿th Trustre5 and TN6t sec￿tar*s Refer to noie Is for4*iaib. In ajditsm. during the ￿[. sanra￿ter LaTr*Jn &anch r•3de a O￿or1e8$h￿t￿4tTh of E35.C¥YJ12019. Statthment of trLtsteg ￿5￿M￿bil￿es trustees (W￿ a￿ also direrttys of SantaTh*r UK Fwn3t￿n Lnnited forthe wrFD8e5 of comparylaw) ¥e reSpon￿tIe fcy prwariry thE Tr￿le￿. Annual Repm and the fir￿￿￿11 ststeffents In ￿(￿darre ￿ applKèble and reguL71￿n Company law ￿QUireS Irusiees to plePa￿ 1inarKk3I5wen￿I5 Iveach finètKo1 ￿ar UndEr tl*i Liwthe tru5tÈes haye (￿e￿￿ed the finart%al staiements in accNthnte With U￿ted Klllydom Actouniry s￿nd￿￿5. FR$ 102 ~TF* Fina￿￿31 ReportirKJ siandèrd èpplicable In thè UK Ind Republic of I￿￿￿1-. and ap￿KabLE ￿{v￿led KiryI￿fft Generalty Atcepted ￿CoUntr￿ Pr￿t￿e> lknderctrmpany LiwthE truststrs must not approve ihe Iinan(rdl sièiemen15 unless tw are sabsfied thai Ihry we a itye lair ￿01 the sia* ol Ihe èllaif5 of thè chariiable Com￿nY and of Ihe It*omin9 res¢￿[(e5 and applKats(kn ol resrwce5. I￿U01r9 the ènd experKliture. of ) 90ry CWKem b395 unte5Sit tOr￿e$V￿* that charithbk coryarywill £¢￿tInue In tr￿51￿$￿. The trLtsiees are resrKM￿t1e for kEepng adequa￿ acCow￿9 re(ord5 thala￿ to ShrN4a￿ exrAain ttK&charitable CDmpan￿5 Iiansacti￿5 and<16(￿￿7th reas01wb￿ accur￿ al any ffftarfb31 of clkArtta14etomwny and tlw to enwFe t￿1 the fKparK stsiernents iofflpty ￿￿th the C(KFwnies Att wèatso re5pwble lor $3fegUaid￿9 i￿aS￿S ol chaThutAe CLNhpany herte lor king rea5(￿alle 5tEps ihe rye¥ED1I￿ 0￿j L*tectM)) ol fr￿d aTrJ oitw lrregutsri￿. Iru5teÈs are resp)n%NÈ main￿nCe *)0 Inte9rty of vebwe leothiw fft the unrt￿ Kingdcm g￿MIng the pre￿1011)n and ¢isswAinoti￿ of finan(41 siaiwnents diffw In 0￿r lu1￿5 In acco[da￿e Mnth Secth)n 418. diiecLors' reports shall Iwlude a slaiwent. In (ase of each direc1¥ In ollKe at the d)ie direaw. ￿r#3rt IS apwoved. Ihat. lal $0 141 es tht iiusiee ￿ awaie. ¢￿ets ro a￿11 Mlorn￿l￿ of sA+Mch ts ((￿nI 5 a￿d￿O￿arP Unawa￿.. and IblF¢ has t3ken all the 51ep5 that to knt tèken as a trustee m order to make awaie of any re￿Vant a￿dit inlormats¢Ji and to establth that the corrrf)arF/s audiffi weaware of that Info￿r￿1*￿. SANTANDER UK FOUNDAMON LIMITED- 02509711 REPORT OF THE TRUSTEES (continued) ststement of GThng CrK(em The FOun&t￿n'S busness tcrfJethe< ￿7th facicrfs Iti efy ￿ affect its fu[v￿ pwlormance and rN)gtv)n a￿ set out abo*. The financial pogtw of the F￿rthtItr). its and t￿1111￿5 are sÈt out in the fin￿1* stateth￿t$. The F￿dat￿n has ai**ie fL¥th In ILY conmitn*nts mède. FcwrKlatiw ha5 rK) emplw5 and tw) gi•)ts are CLvf4milted lund5 ale ￿ pLice. As a cfy)seOL*￿E, T1kn5tees trot ￿ FtyJndètith ts*U lo its bu9￿￿ r&ks skra￿5￿UlIY dE5kVte the current U￿ertain ecoryJtni( outlrtk. The Tiustees have a expettawn thai rexuces lot￿linU￿ n Lyrè1￿1 +￿StenCe at least the peiiod of 12 rnonths from thp date f￿ant￿ a￿tt￿¥￿ed lor Accordwty. tly wntirvJe to adopt the (￿[￿n ba55 of counting ID weparw tho annL*I ￿P￿t finèr￿7¥ siatÈii*nts. COVID-191BR 2020 was a dema￿ling ￿ar in ge￿ra1 wth B￿￿￿Kerta￿ty and ecrwny turm￿ Rsa re5uh offr CQVID.19 pandwni Cornpan c￿lIn￿e$ to I￿nI1¢Y the ¥nwof C0VID-19￿ Brext arKI inter¥J5 to lake a r(KJrdw￿e(S apwoach ￿ its UK pareni wmparry. 5antsndei UK p1c Ilhe Group}where a￿K￿b￿. The CfyTwny tofv vath of its assets ard liabliiEs èt rerffiing dao. st￿thined E￿r￿ and CartKffi (SECR) SECR ts co)ydefed and markiged ata SantanderUK grwp ￿¢4 Inltyrr¢tA)i on annual erw ￿eand a53CWQd grety)h￿ gas ww$9￿5 of ihe 5antander UK groLJP Iinckthg fv Cijmrkiny) ts 5ercwi Al Il* Strate9K￿￿rt and D￿e￿i￿s. se0￿r￿ of the Santsndw UK Group ￿￿￿1n95 rlc 2020 Annua Rew. (knl*iryThird Paty EnhaKed ind￿litieS.are to DIreCu￿ ol the frA￿atth sant￿￿T UK rAc again51 Ikibdiiie5and assoc￿ted costswhich they cwk incui in the course of theii dutie5 to the Fo￿l￿Tr AJI of the ￿de￿il￿5 In IoTce ¢Juftry the IinaKial wr ar￿ ai the dale ol aPP￿al ol the Rewrtand Financial Ststements Allol the indE1nTht￿v*reW￿llWThj trmrd party Acrlry of each of is kepiat the rEgisierEd olfice addiessof Santanthr UK pk The finanual 5trtrrnentsK￿ th￿TA￿￿e5 on 26 2021. athJrrA fLY ffAue a￿1 its tehall bj. Jdith ￿ra￿ Tw5tEe 26 luty 2021 Aeg6twed OffKe Addres&. 2 Tritrffi Sq￿￿e. Reyt's Place. icAthI NWI NTANDER UK FOUNDAMON LIMITÉD-02509711 Independent auditors, report to the members ofsantander UKFoundation Limited Report on the audit of the financial statements Opinion In ouropinion. Son¢anJer UKFowi(tstion limit￿Sfi￿aI￿l statements lthe"finao¢ial *atements"I: give a tTr￿ aDd fair wew of the state of thecharitable compan￿$ affair5 a5 at 31 December 2020 and of its incoming r#ourtes and applitation of resollrces. including its Incon￿ aftd t￿pendI￿re. for the yearthen end￿.. have been properly prepared in accordance with Uftit￿ Kingdom Generally Acttpted AceountiThg Practice (United Kingdom Attountiiig Standards. thmprisins FRS 102 Yhe Finarttia] Reportinsstandard applitable in the UK and Republic of Ireland. and applicable Jawl.. and have been prÈpared in atts)rdance with the requirementsof the Conip2nie5Art 200 We have audiied ihe financial statemeTLts, indu0￿ within the Annual ￿e￿rt and finaDcia] Staternents (the'Annua) Repjrt.), whith tomprise: the balanee Sheet as at 31 DtteM￿r 2020- the Statement of financial arfivities (SOFA) - incorporating summary of intome and expenditure atcount for theyear then eTLded.. and the notts to the financia] staiements. whieh include a description of s￿nifiCant accounting policies. Basis for opinion We conducted our audit in accordance with Inlemational 5tandardson Auditing {UK CISA8 (UK)") and applicable law. OUT teswn5ibilitieS under ISA8 (UK) are further dwribeA in the Auditots. responsibilities for the audit of the financia] #atements 5tttion of our report. We believe thattheauditevidence 11a￿ Obtsin￿l$SVfficjent appropriateto provide a basis for OUT opinion. Independence We remained indepeE)dent of the charitable company in accordance ￿1th the eihieal requirements that are ￿k¥an1 to our audit of the fiftantia] 5taiemenis in the UK whith ineludes the FRC'S Ethical Standanl and we have ￿lfilled our othtr ethical responsibilities in aceordance wiib these requirernents. Conclusions relating tts going concern Based on the work we haveperformed, we have not identified anyTnateri3] uncertainti¢s rtlatingto events or condition5 that. individually orwllectively. may cast significant doubt on the charitable o)mpanYs ability to tontinue as a going concern fora period of ai least twelve months from thedate on whi¢h the firÈaD¢ial sraiements are authorised for issue. In auditinstht financial statements. we havetoncl￿1ed that thetrtstees. use¢)f the goingconcern basis of aco)Untin8 in the preparation of the financial statements 1$ appropriate_ However, because not all fvtureevent5 of¢oTLditions canbe prwJictwL this wncJu5iOll is Jwt aguarantee a$tothecharitable Compart￿s ability to continue as a Boingeoncern. Our responsibiltties and the respoLsibtlities of the tn￿ets with respttt togoing concern aredestriw in there]evant sectiolls of thi5 report. Reporting on other infomation The other lnfortnation comprises all of the illfoTmation in ihe Annual RepDrt other than the financial statements a[￿ our auditors. report thereon. The trusteesare responsibje for ihe ￿herinforn1atiQn. Our opinion on the financial statements dots not ￿er the other informatioth and. aCu)rdin￿y. do expr&an audii opinion or. except to the ￿ent otherwise explicitly stated in thi5 report. any forn) of assuran￿ therwn. ID eonnection with OUT audit of the finaThcial Statements. our reswnsibility 15 to read the other infornation and. in doing so. considerwhethertheother informaiion is materially inconsistent ￿th thefinancial siatements or our knowledge obtsined in the audit. or othemse appeats to be materially misstated. If we identify an apparent ￿￿terial inconsistency or material misstate¥nent. we ate required to perforn) prct*lures to cor￿l￿de whether theie is a material rnisstatementof thefinantial Statements or a materia] misstatement of the other infortjjation. If, based oll the workwehave perfortned. we conclude that there is a Material misstatement of ihisother infon)xation, weare required to rewt that facL We ha￿ nothing io Teptsrt based on these responsibilities. Based on our work undertaken in the wur5e of the audit, the CompaniesAct 2006 requires us a150to report certain opinions and tnatters as described below. SANTANC*R UK F￿JNDATI0N LIMITED-025C8711 Independent auditors, report to the members ofsantander UKFoundation Limited (Continued) Report of the Truslees In our opinion. based on thework undertaken in the courseofthe audit the infomatiort 8iven the Rewrt ofthe Tn￿leeS for the financialytaT forwhith the financial sratements are prepar&1 is COllSiStent with thefinancial statements.. and the Re￿rt of the Trustets h&$ been prepared in accordance with applicableiegal requirements. In addition. irt light of the knowledge and undetstarjdingof thecharitsblecompany and its environrnent Obtain￿ in the course of the audit. we are required to report if we have ideDtified any material miwtements in the Re￿rt of theTrustee$. We have rtothing to report in this reyct. Responsibilities for the financial statements and the audit Respoiisibilities of the tnesteesfor thefinaneialstotements As explained rnore fully in the5tatement of try5tw' respon51￿"lltte￿ the trnstees (who are also the diTXtorsof the eharitable company for the purposes of eompany lawl are responsible for the preparation of the finantiai staiements in accordance with the applitable fvamework and for beiT)g 5attsfiEd that theysive a trne and fair view. The trustee5 are also responsible for suth internal control as theydetermine is netrssary to enable the preparation of finantia] statements that are free fronj IDater￿) misstatement. whetherdue lo fral￿ orerror. In preparing the financia] ststements, the trustees are reS￿>n51blef0r ass￿)n8 the charitable compatxy'sabi]ityto eontinue as a going Concern. dixlositt8 as app]i￿ble. ￿￿tter$ related togoins¢oncern 3nd usingthe going concern ba5isof aecounting unls5S the tTUStee5 either intend toliquidate theeharitable companyorto cease operaiions. or have no rea]istic alternative but to do $0. Auditois'responsibilitiesfvr the oudit of thefinancialstatements Our obiECtiV85 are to obtain reasonable aiM)ut whether the financial ststernents asa wholeare free from material misstatement. whethei dueto fraud orerror. and to issue an auditors, re￿rt thal i￿l￿dES ouropinion. Rewnable assurance is a hish level of assurance, but is not a guaranlee that an audit conducted in aeeordance *ith ISAS (UK) will a]ways detect a material misstatement when it exists. MisstatemeA)ts can arise from hatsd or error athdare tonsidered material if. individual]y or in the aggregate, they could reasonablybe expected toinfluenceihe economie dtti5ions of user5 taken on the basis of these financia] statements. Irregulaftues, irttludit)g fraud. 8re instances of tton-CJ)mpliance laws a￿d regulatiotts. We d¢sign pr￿duTeS in line with our responsibilities. outlined above, todetect material mis51atements in respect of irregularities, including fvaud. The extent to which our prctedures are capable of deiertin8 irregu]ariii4 including fraud. is detailal below. Based on our understandingof the charitknlecompany. we ideniified that the ptincipal risksof non-complian￿ with law5 and regulation5 reL4ted tothe CharitiesAct 2011. and we considered the extent to which non-compliance might have a material effect on the finartcial statements. Wealso considered those laws and regulations ih#t have a direct impart on the financial 5tstements. such as the Companies Acl 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the finanaal statetnents (intludingthe risk of override of corttN>ls). and deterniitLed that the principal risks V￿re related to Posting inappropriale journaLsto tnanipulate financial results orconceal the misappropriation of assets and tK>tentiaJ management bias in a£￿UntIng estimates. Audit prr￿ureS perfortned irf]uded.. Èdentifjryns and teAingiourTW] entrie5, in particular journal enlries with unusual ac£ount combinations to expenditureaceounts. obtsining confirmationsofc4sh balance5and materia] investment valuationsas at 31 December2020: t85tingthe TecognitiOD of grant £Ypenditure in line wth tern15 of the grant a￿rdS.. enquiry of management and the IK)ard Oftn]st￿$, induding consideration Ofkno￿l or su5￿￿j I[￿anceS of non- eompliance with law5 and regulation and fraud: reading tninutes of meetings of the Eoard of trustees- and assessin8 financial Statement dix]05ures. and te5tingtO 5UPF￿rtlng d(rurnentation, for compliance %vith applicable laws and regulations. Thereare inherent limitations in the audil prceeduresdescribed aE*)ve. We are less likely to be￿me awareof instances of non- Compl￿?neeWlth laws aDd regulations thai are not closely related to events and transactions refieeted in financial statement5. Also, the ri$k of not detecting a materi31 mis5faterneDt due to fraud is higherthan ihe risk of not detecting one resulting from error, as fraud mayinvolve deliberate conttalment by. torexampk. foryeryor inteE)Eional misrtpresentations or through collusion. Afvrther description of our responsibilitie5 for the audit of the financia) 5tstements 15 located on the FRCS website at.. www.frLor8.uk/audilor5resp)nsibilities. This dtr£ription forms part of ourauditots, re[￿. SANTANDER UK FOUNDATION LIMITEO-025tr3711 Independent auditors, report to the members ofsantander UKFoundation Limited (continued) Use of rhis rewi't Thi$ tr￿rt. indudingthe opillioT￿ has been pry)ared lorand orttyforthethatitable Compan￿S membejsas a b￿lY in accordance with Chapter 3 of Part 16of theCompaniesAct 2006 aDd for no other purpw. We do not. in giving these opinion$, accept Or as*ime reswjnsibility for any other purtK)seor to any other person to whom this retM)rt js shown or into wh(w hands it maycome save where ￿pres$1Y asr￿ byour priorajnsent in v￿￿ting. Other required reportlng Comparties Act 2006 exeeption reporting Under the C￿mpanIesAtt 2006we are required ￿ ￿E￿)rtt0 you ic. in our opinion: we have not obtained all the inforniation and explanation5 we require for our audit. or adequate accounting retords have not been kept or rethnts adequateforwraudit hm ncr( been received from branches not ￿lsIted by us- or certain dis¢losur85 of trustees, reTnuneration ￿trified by law are not made,. or the finantial 5tate]nents are rtol itt agreeTnent *ith theattounting records and returns. We have no exeepttOt]s to re￿rt arising from thts responsibrltty. Entitlement to exemptions UThderthe G)mpaniesAtt 2000 we ate reqlli￿d to report to you if, in our opinion. the trustees were noi entitled to: prepa financial statements in accordantt with the sma]I wmpani¢s' regjme,. and take advantage of the small companies exemption from pteparing a Strategic Report. Wehave noexc£ptions io rewrt arising from this restM)n%bility. Daniel Chan (Senior Statutory Auditor) for attd on behalf of Ptitewaterhousecoopers ti Chartered Acwuntants and Sta￿lOry Auditors L4)ndon 26July 2021 io SANTANDER UK FOUNOATK)N UMITED- 02509711 STATEMENT OF FINANCIAL ACTIVITIES (SOFA)- INCORPORATING SUMMARY INCOME AND EXPENDITURE ACCOUNT ForthÈ year ended 31 Decemt*r 2020 Totsl lund5 2020 Total funds 2019 furKts Incomeand w(sY•￿￿Trts fièm-. Donat 4.035.1 4.035,LK¥J 3.075.$47 311.921 29.689 351,610 415.049 Total 4.35&921 4.386.610 3.490.596 Chaiitsb* 13.JJS2.418} 13,452.4181 12.185.236) Totsl (3.452.4181 13.452.418) 12.185.236) Net g)Ins on Irr*51ments 426.268 426.268 1.670.916 Net MKrMneand rtt mts¥•Y*nt i) funds M.503 29.689 426.268 1.3fQ.460 2.976.276 Rec(y￿1￿1￿ of furKts". Total fund5 ts￿1 l(xwaid 12.16 1.984.IW) 15.911.838 18.178.728 15.202.452 Totsl fvnd5 carried f(wd 2.888.S63 312.519 1633B.11 19.539.188 18.178.728 Ihe aCComp￿￿j r￿eS form an Inre9ial part of Ihe linJrK&¥ A summary ol wvyearcomp¥ahe Irxekn fuThJ $(ks5ts rekited to rnaking ￿se grant5. Gran15 are account£ lu when TIu5tee5 at(ep￿13 legal oL4vJatK)D to rrthe ￿ want Crethtot5 C05tsth ha¥t Incurred rrf)I paKI ai yearend Support tQSts Include costs asxtiated with of the Swt*yt Costs arE IkKated again5l the ufire5tri￿ed f￿d5 Hiwever costs rekiled lo cy are awivylible ie5tFKted futwh are aHLKaled against l￿d5 GI>￿￿ante cosis iompiise the cost of 5tialEgc L1reCLi￿ ol the charity ItKludtry ttU51eEs meeury> at¥J pto1e5svj￿ T1￿ are ￿dudEd financHI slate￿15 on expenditure [￿rItab￿ eYoEnditutE based on aitmty. Cath at b*)k li h￿d The Foundaliun 5eek5 lo rr￿l￿￿ln (ash iesources È4up4aknl toat M¢￿th.% of tyahf5 paid lo b2ne1￿￿?rie5 In ordei for it 10 meer its 0￿1981￿5. Al 31 D&ember 2020. cash ènd cath eouN3knts of £2.911.828 h￿(￿(2019. £2.178.$791. CL¥DpINrvJ (ath ￿￿1 on denwd with ielatsd partes exrwnal barts. C35h fl(wAatsment As a >nall Cr￿￿rry hithin ￿er￿ul￿)n of IP* 20)5. Trthtees to thke advantase ol the exemp￿) ayafiab￿ undpr FRS 102 7 18. ststsrwr ol Cash rK)l kn WCNJLKe a (ash fknvsia1er(￿. In¥*smeffl5 Fixed 455ets ￿veStfiEnts a￿ SEèied ai bbJ markeivabjeai baL)r￿e*￿e1 dale. AJlin*s¢n*nsare IfNestmeniasseis Wd In ￿ united Kingdom. Investmen￿ i1￿￿e(￿r￿S1¢ baL4rKes. eqUI￿aT￿ fL%ed ifKoTe furKI5. byfund manaws Realisedano ￿n￿lised invesimeDI gains and1055es rebllry 10 Fur¢ ale irKhJ(*(S ￿ wirestrK*d fund5 in the re5trKWI %*t*re rdèie to ￿ HoJ51D9 ASsotsai￿n Fu￿. 13 SANTANDER UK FOUNDATION LIMITED- 02509711 NOTES TO THE FINANCIAL STATEMENT5 (continued) 1. ACCOUNTING POLICIES (continued) Fund accountr The vaMLS typesd l￿d5a5 l*ar. santhr￿ UK pk matha cash 01 £4.(O).W) (2019" £3.CfQ.CrfJ)1**l Sant￿r ￿arth nk4de a (ash donbton of £35.00012019.' nill. 14 SANTANDER UK FOUNDATfoN LIMITED- 02509711 NOTES TO THE FINANCIAL STATEME￿5 Icontinuedj 3. INVESTMENT INCOME 2020 2019 Bank intErest incty Driider¥J Incoxe Interest and di¥idend5 7.269 9.723 351.610 415.049 4. AUDIT FEES Fee$payab￿l0t￿ Founda￿n.5ALd[QThf￿ the￿t01theFLNJfKla￿.San1K￿ yaternentsfwthÈcwrentswrare f6.9EQI2019. £12.3601. For the Cur￿￿1 Irrea)veiab￿ VAT ai 20% 15 ¥￿thin leè. 2020aKSt fee w of VAT 15 £5.8W For tr* hEar. the fee ￿ 5tsted rvèi ol VAT a5 Saniander UK ab￿￿d the ol IriKovalle VATa5 rhvt of audit fee. Fees paYkn￿ to the f¢N n(xFau(bl 5er¥Ke5wve nl12019. ra). 5. TRUSTEES, AND STAFF EMOLUME￿5 ThETiustees rec¥¥ed rNyexk￿Ses stry￿S rwthed12019" £M. The Fa￿dat￿n had no dI￿ty empkwd - PRIOR YEAR COMPARATIVE EnOyAry* Fund Tol41 fun¢Js 2019 hjr Irmwe and traY￿ts frryn.. Donation5 3.075.547 3.075.547 Inve51ments 383.693 31.356 415.049 Total 3.459.240 31.356 3.4gl.596 charitab￿ 12.185.2361 12.185.236) Total 12.185.2361 (2.IB5.23 Net gains ￿ ifive5Wnents 1.670.916 1.670.916 Net Income and net funds for the 1.274.(X)4 31.356 1.670.916 2.976.276 Recorrti1411￿n of fund5.' Toi4 lunds twht loMqr¢J 12.16 710,056 251.474 14.24).92Z 15,202.452 Tot31 lunds camedfrm*d 1,984.( 28Z.830 IS.911.83B 18,178.728 13. LIABILITY OF MEMBERS Iwknlity ofeach Tr￿ to ¢(x1tn￿te to ￿￿ets ol Fwndatti) LY) t5 Iirned ro £lW. 14. DONATIONS AND GRANTS AWARDED TO CHARITIES £10,000 AND ABOVE Charity name 2020 2019 zheimer's S(K*tyIChanty Pwtw) e UK Icharity Partner) m￿MillIn Cancer Sup Barnard￿ (Charity PartnEr) Ca￿er RÈsearch UK Maiie CLKie Cartercaie Aciion Cancer Childien In Need HCPT- Hosanna House and Children's Al 1.654.976 1.5Tr).213 793.076 23.710 29.614 23.780 20.383 12.(r)7 10.828 10.613 10.500 334.601 1.651.690 1.986.291 [irna TIL4511 Toial donations and giants awarded £lO.(KK) Totsl dDnaiion5 and ianis awarded £lO.th) rantsaHoided 3.155. 1%.848 3.311.937 Ttstsi dona￿rts and ar 18 SANTAIIDER UK FOUNDATION LIMffED- 02509711 NOTES TO THE FINANCIAL STATEMEHfs (continued) 15. RELATED PARTY DISCLOSURES Trustees afe elKted by the of thè ai the G•*ra1 Pl*tirwJ ¥d ryo trusteEs *e akwnted ty Santander UK pk. The Foundation hès ￿(￿4￿)n5 and grfts Sant•ts UK to £4.(#)).1ts) 12019." E3.C60.(#XII aod è Irom SJnt4ThlEr Lon(k)D 8rènch of E35.(W12019" rNII Santsnder UK cha￿d Fw¢KJatKn wilh lhe(￿ ol Ser￿￿ i¥yt*ts) i￿￿101 tt*FwDdalwof £92.15512019." £92.1551. redcharg i[KI￿e& in other c051515ee rK)ie 61 arKJ wa5 th￿}￿. Rekitsd party cash baLinces are hek4 try Caw knmrted and É2.911.828 ai 31 lJecemFH 202012019". £2.171.219k Thwe v*te root￿1 tran5aaons eniered iniobtsith reLited ￿rt￿dUrir￿ the wr12019". IM￿1. in¥￿¢ment fund Ls mana￿d ty Santsn(*r Asset ManagwEni UK from Seprerter 2(A)5. whKh ro fee is thar9ed loi the cvrrent yeai 12019. nin. Managempmt of Vnd￿Yry in¥Estmpnt s ￿ken ty Rryal lrM¢￿ BkKkrcKk. 16. RESERVES Asat 31 December 2020 l January 2020 Ewdffwe gan5 Unrtstrct*d FUN General Reserve Totsi Un￿Illed lurvjs 1.984.C60 1,984.C60 4.356.921 4,356.921 13.452,4181 13,452,418) 2.888,563 2,888.563 Re5VKted Fund5 Generèl 8eserYe 282.8XJ 312,519 312.519 Total resthcted tur￿$ 282.830 29.689 Endowment Fur End¢>wrnent 6.940.962 8.970.876 6.940.962 9.397. 144 Revaluat￿Tr Resernt Total End￿￿•1 funds 426.268 15.911.838 426.268 16.338.106 Totsl funds 1&17&728 4.386.610 13.452.418) 426.268 19.539.188 A5at 31 2019 l January 2019 gairs Unre51rKted Futhts Genero1 ReseNe Total unrestri￿ lunds Restr￿ed Fund5 General Reserve 710.056 710.056 3.459.240 3.459.240 12.185.236) (2 185.23 1,984.060 251 474 31.356 3) 282.830 282.830 Totsi resuirted lur EndowThont Funds Endovltnent 251.474 6.940.962 7.299. 14 240.922 6,940.962 8,970.876 15.911.838 Revalvatson Res•3E 1.É70.916 1.670.916 Total Er￿￿￿TrI1￿¢ts Total fu￿5 15.202.452 3.49).596 (2.185.236) 1.670.916 18.178.728 Unrestr￿e￿ fundsare avalab￿ lry use 4t the d￿re*￿>Tr ol the TIL￿ee5 ￿ lurtP*r the obrn of the F