Chaiity Registration No. 1096491 {England and Wdles) Charity Régistration No. SC044013 (Scolland) Company Registration No. 04597114 (England and Wales) Ellen MacArthur Cancer Trust Annual Report and Financial Statements Forthe year ended 30 November 2025 ELLEN MACARTHUR CANCER TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 CONTENTS Page Rewt ofthe Chair of Twslees Trustees, report 4-11 Indep8nd8nt auclilorfs report 12-15 Statement of flnanelal actiwties 16 Summary ofin¢ome and expeThJiture account 17 Balance 18 Stslement of cash flows 19 Notes to the financAal statements 20-36 Legal and ai*ninislrative infom)alion 37 ELLEN MACARTHUR CANCER TRUST REPORT OF THE CHAIR OF TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2025 We said goodbye lo 2025 celebrating th8 incredible athievem8nls of our 2023 - 25 Business Plan and welcomed 2028, looknng knard to sharing our strategy for the next four years through our 2026- 2029 Ambiknons. Alon98ide strong 81rategrc progre8s over the pa8t 12 months. we continued lo deliver on our core charitable objectives- mainlaining the number of young people SUp￿rted at 2024 levels and achievin9 our goal of fetuming to finanaal breakev8n position ty the year end. No fewer than 650 young people living through and beyond c8ncer and siblings benefited from one of our transformational sailing or outdoor adventures across the Ulc Mean%vhile incorne continued to grow following three planned deficil years, ¢Juring Nthich reserves Y￿re strategically invested to sustain and strengthen service delivery. 2025 accounts and 2026 plans We stsrted the 2025 financial yearwilh a budget deficit of £90.000. but 7Mlh a clear ambilion to return lo a breakeven cash position. Budgeting and planning for the followng yea¢s Irip season always begins in the April and May before, meaning provisional decisions are based on known incom8 and year-end forecasts at that point. For the first half of the 2025 year. while income had grown compared wlh the previous year, il was tracking well b8hrnd our finanaal pl￿$. 80 we adopted 8 particulady c8uIiou8 and conseTvalive approach to our 2028 budget and trip plans. The seeond half of the yèar, howavèr, brought renewed optimism and Confider￿e. Several fundraising successes. coupled wth a laser focus on cost control. $i￿1fiCantlY strengthened our year-end financial posib"on. Our annua] high net worth event al the end of May, hosled at the Royal Yacht Squadron in Cowes, proved pivotal. The event not only secured commitments from several new donors. but one of our longstanding supporters generously matched every donation mgde on the night as well as donating himself- generating a remarkable £88.000 in total. There were also significant wins in Trust and Foundalions funding and a new virbjal fundraising inifr-alive- Step into Christmas - all of which Saw us diversify income and build gr8al8r 8ngagemenl within our existing communty. Meanwhile. through an exceptional efft)rt from the team. expenditure was around £175,000 less than in 2024, despite cost pressure and without compromising our non-negotiables of safety arKI quality. All this done would have achieved our goal of a breakev8n cash position in 2025. But there was a cherry on the cake which came from S2iling legend, Sir Ben Ain￿le. Sir Ben took part in Sir Chris Hoy's first Tour de 4 charity cycling fundraiser in September. This not only raised an incredible £110,000 {in¢luding Gift Aid) but resulted in several new supporter introductions and leads for us. Sir Be th03e the Ellen MacArthur Cancer Trust of his own volition, and we couldn't be more grateful to him for both the Income and the awarenesmaising his wonderful efforts generated. Thank you lo Sir Ben and everyone who generously supported him! This positive shift in finarrial fortunes is enabling us lo do more than we originally budgeted for and plann8d in 2026, adding in extra trips and trip spacas to accommodate wnore young people on both first lime and return trips. In total there are 781 young person and siblings, spaces available in 2026. again8t budgeted income of £1.739.400. Two siblings. trips are being run for the first lime. which we are aiming to repeal in 2027, thanks lo restricted funding from the Melanie White Foundation. However, we still cannot offer everyone a space who wants one in 2026 have a provisional waib.ng li81 of 58 for Jr retum trips. This highlights thè ehallen9ès of fundraising and expenditure, coupled with ongoing infiation. that conllnue lo have a very real impact On the numbers of young people we Can support. You will note this sel of accounts shows 8 £484,670 surplus. In November 2025, we were extremely grateful lo receive a donation lo purchase a n6w yacht. which will replace MoonspRy- the inaugural vessel of our fleet- in Largs. At 36-years-old. MoonspTry is becoming costly to m8intsin and no longer delivers the same level of exp8ri8nce for young peopl8 as th& newer, mor8 modem vessds avali able lo u& Through the generosity of a long- time supporter of Dame Ellen arKI the Cancer Trust. we are absolutely delighted lo hav8 commission8d a 88rieleau 47 yacht in partnetship with Ancasta Intemational Boat Sales. ELLEN MACARTHUR CANCER TRUST REPORT OF THE CHAIR OF TRUSTEES (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 As a result, this sel of accounls ir)dudes the £373,796 donation for the new yacht, increasing our overall income lo £2,333.638_ This donalion will be held in restricted funds al the year end. Accordingly, while these aewunls show a signifKanl increaso in our net asset valu6. the und6rfying Surplus for the 2025 year was £110.874. The new yachl wll become the fourth spea8lly adapted vessel in our fleet. givtng even mop young people needing additional fflobility support the chanc8 to benefit from a life-changing sailing adventure. The bespoke moLlificalions will be carried out by Ancasla Yacht Service5 in Hamble the hope she WFII be delivered by the summer. A fomial launch w£ll be organised for later in 2026 or early 2027. We ar& looking forward to seeing her on the water for the fI￿t time. Because of her 8ize and adaptations. she wll make a real difference lo both the number of youtvj people wa can support and ttrw increasing accessibility of trips. Our Ambltlons- now and noxt 11 feels like the last three years were the most strategically ambib'ous in recent memory. ￿lIe pievious business cycles have seen significant one-off projects (e.g. Round Britain voyages) and new activity introduced le.g. can trips and Si￿1ng th"ps), ad)iévèm8nls in thè last three years should provide foundations for all future activity to have the greatest possible impact on young people. In March 2023, we launched our 2023-25 Ambitions. At that time, we were Introducing our re81-time imp￿1 dashboard and had no Equity. Diversity, Inclusion and Belonging IEDIBI plan, online mental wellbeing support, or carbon measurement. Further. volunteer development was in tts infanw.. our Volunteer & Team Devdopment Manager having joined u8 in that new role in November 2022. Fast forward to today and what's been achieved since then is genuinely game changing. As a small charity. we became sector leaders in a￿aS SUGh EDIB and Impact, while supporting our highest ever number of young peop18 and our income weathering the economic stomis. The key achievernents of our 2023- 25 Ambitions are detailed on pages 8 and 7 of this rewrt. Whlle EDIB Is undoubtedly a success story, we slll have much work to do in both ensuring the ethnicity of our young people more closely reffects that of the UK population and glvfng as much focus lo other protected haracteristycs 0$ we have inillally on young people of colour. Furthef, we did not establish qualstslive ifflpact data eolleetion or make the progress we now have on Think Plar)et as eorfy as we wanted in the Ambitions cycle. Income success is to be celebr8ted. yet we have not reduced thè relianee on one fvnder to the extent we hoped. But over811. the team should be very. very proud of everything thavs been achieved. This progre58 and succes5 have given us a springboard to our 2028.29 Ambitions, and w8 now lo(A( ahead lo the next four years with confidence and curiosity. The new Ambitions are shaped by more than six months of speaknng and lislering to the people who most care about the Ellen MacArthur CancerTru8t. Our Staff. volunteers, 5ktppers. young pecyle, hospitals, charity partners and our Board, were 811 engaged and consulted as we bid lo understand what we needed lo consider for 2026 to 2029. What emerged was a sel of four allenges., things we need io address and measure so we keep achieving our overall putpose - to inspire young people to believe in a brighter lulure living through and beyond cancer. These four challenges las ¢*ailed on pages 7 and 81 centre on ensuring every young ￿r$on and sibling Can access the right SUPPDrt and experience the greatest possibla impact at the time they need IL underpinned by t4Jilding finanaal resilience and delivered in a way that is measurable, sustsinable and rooted in our purpose. The 2028-29 Ambitions are the way we aim to address these challeng88. The new Ambitions have a dear overarching focu5- keep increasing th8 numb8r of young people we supp¢)rt ￿110 gfowng income ftom 2026 to 2029 by 15%. All growth musl be stable and sustainable; guided by thre nlerdependent faclors - money, demand and quality - so financial health and operational capacity always move together. ELLEN MACARTHUR CANCER TRUST REPORT OF THE CHAIR OF TRUSTEES ICONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 Over fhe next four years we wll take a more flexible approach lo budgeting, wlh our strategic goal lo maintain free reserves at between six and nine months. expenditure. Thi8 allow5 U8 to recognise and capitalise on investment opportunili68 With longer-temi financial andlor wder benefits to th8 organi881ion and 8caling our operational trip planning {up or down} in line wlh demand and income. We continue as members of the North Star Cancer Collectfve steerfng group. working wlth other sector-leading charities to create change in the young person's cancer care system. The vision is to improve long-lerni wellbeiru for children, young people and their families, including siblings and bereaved families. Infomied by the co commissioned 'Slale of the System, report {Dartington Service Design Lab, 2024), Ihg Collective is collal)orating to bring slructure, creativity and strategic direction to address the key challenges unearthed by the research. FindiThJs from the report helFed shape are evldent throughout our 202&29 Ambltlons. most notsbly In five areas - improving long-temi w8llbeing outcom8s, addressing belonging and inequities in cancer care and support. underseryed siblings, improving the heightened anxiety of young people posl-treatment and understanding when SUPPOrt is needed to make the biggest differen¢e. "You can read our 2026-29 Ambitions here- Connectlon, Belonglng and Brfghtsr Futures al.. www.ellenmacarthur¢anc8rtn￿t.OrglnewSI¢onnéctIOn-b￿longin9-brighleT-futUre$. These were publicly launched in March 2026. Governance It continues to be a huge privÈlege lo work with such a supwrtive Board of Trustees. In 2026 we are Set to say goodbye to Iwo of our longest serving Trustees- Peter Cazalet and Martin Pluves_ Both ￿11 be slepplng dovm having served the organisalon for three consecutrve terms and thelr commltmertt and passion for achieving the best possible OLrtGomes for youn9 people is as strong loday as It wa5 when they first joined the Truste? team. They have both brought their significant wisdom and exporience to board and committee rneetings during their tenures, not least in finance, and I personally have appreciated their counsel and support ring my own time as Chair. We wll miss them both greatly. W& note there are thre8 Trustees who have served more than three conseculive temis of office. all of whom provide a unique perspective on the work of the organisation and il would Present a particular challenge lo replace experti$e. The Board ¢ontinue to benefit from the skill set provided and thus iemain supportive of their ongoing membèrship of the Board. Recently, the Board undertook a skills audit to identify current skill and expertise gaps amongst tho TnJstees as well as areas of strength that ￿re r¥)t currerrtly being capitalised on. A5 a result. it 15 our intention to advettise and recnjit for Iwo TNslees- one with strategic experience and expertise in digrtal transformation and the other wth strategic e￿rience and expertise in youfh worf(. These appointments will also align with strategic objectives in the 2026-29 Ambitions. I recently retired from dinical pracliee and so the Board wll look to bolster the medThl knowledge and experlence amongst our Trustees in earty 2027. We also ￿ntInUe to be mindfvl of improving our Board diversity in all rewitment. including maintaining our balanced female and mala representation among our Tnjstees. As we step into 2026 with an exciting new set of ambition5, we are mindful of the challenges we have. The ability of the Ellen MacArthur Can￿r Trust to rise to such challenge5 and continue to deliver lrfe.affimiing support to young peoplo living through and beyond cancer is clear from this report. We aro exc-rted to continue to work with exist.ng partners and supporters and are looking forward to ft)rging many new connections through our nexi strategic cyde. always remaining focused on th8 Posltivè impacts wè prtivtdé for thé young people we hav8 the privileg8 of supporting to believe in their ￿Ighter future. Dr Oave Hobln Chalr of Trustees o*ID£Iio ELLEN MACARTHUR CANCER TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 30 NOVEMBER 2025 The Ellen MacArthur Cancer Trust Inforniation Th8 Ellen MacArthur Cancer Trust Is Incorporated as a ￿mpany1￿mIted by guarantee and is registered in England and Wales wth the registered number 04597114. Th8 Tnjst is registered wth the Charity Commission with the registered number 1096491. and the Office of th8 Scottish Charity R8gulator (OSCRI wlh the registered number SC044013. Objects The object5 of the ENen MaG4rthur Cancer Tru8t are: lo allevi*e the 8uffering and promote the well-being of children 8nd young persons suffering from cancèr, leukaemia, or other serfous Illness by provldlng facNWes for salllng trfps. salling holidays and other similar activities,- and to promots such other purposes being exdusively charitsble a5 the Tru¥lees may from time lo lime detemiine. Objectiv•8 and Actlvltles For many young people, simpty piciang up from where they left off before cancer Just Isnl posslble. So, when trealmenl ends our work begins. The Ellen MacArthur can￿r Trust takes young people sailing and on outdoor adventures to inspire them to believe in a brighter future, living through and beyond cancer. Tha dlff8r•nc8 wo make- Publlc Benefft In setting the Ellen Ma&4rthur Cancer Trust's objectives and planning ils annual acttvities, thé Trustees give eareful consideration to the Charity Commission's general guidan￿ on public benefit. Each day an average of 12 children and young people in the UK leam they hav8 cancer ICRUK, 2026)- siatisti show almost 84% of children and 87°h of young people will survive but many will be left with long-lenn psychologicol, physical, and social effects. Research sh¢)ws that 90% of y(wng people in recovery from cancer feel isolated and over 60% are worried about the impact on their education or future employment. The impact of treatment on familie8 arKI Communit￿ is significant awKI the long-temi swo-economic Consequen￿ to society aTe costly. There Is gro%*ing recognitson that providing support for young people to help them transition belween treatment and 'normal' life can Significantly improve mental and physical wellbeing, haptmness and the Ihrough life, soctetal contribution of young people and their familie5 and communities. The Ellen Math4rthur Cancer Trust provides this support - using sailing and outdoor advantur8 as an enabler of change, helping young peO￿e to re-engage with life after cancer treatment. improving mental wellbeing and helping them to navigate the impacls of long-temi treatment so th8y can liv8 fijlfilling lives. The Ellen MacArthur Cancer Trusts impact Is significant. improving ed￿atiOn. employment, and soci&tal engagement for the young person and in tum im￿￿0ving the wellbeing of their fanilies. We us8 an irKlependenlly verified tool - the Short WarwiGk-Edinburgh Mental Wellbging Scal& - to measure and evidence the impact of our trips on young people's mental wellbeing. This tool is used across a range of settings. including healthc8re. education. arKI communty s&ttings with p8op18 aged 14+. A set of seven questions are aulomaticalty sènt to every young person taklng part sn a Idp, tsvo weeks before they go on their trip, immediately after the trip and Ihree months later. The results of these questionnaires are available lo view on a live. real-time dashboard on oui website at e11enm￿rIhur¢8nc0rtr￿sl0rglImpaCL The data CAn be riltered in dtffer8nt ways to see fhe change made for different gTOUPS. ELLEN MACARTHUR CANCER TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 The re8uIts from our first 4 years. data dearfy show their experience with us achleves a posluve change for 8 young person's wellbelng, with 720h of young people eXperie￿ing an impTovement. Organlsatlonal Structure Th8 E118n MacArthur Cancer Trust was established by its Memorandutn and ATticles of Assoclation and is incorporaled as a cornpany limited by guaranlee. The Board The Ellen MacArthur Cancer Trust has ? Board of Trustees, ￿th day-ttrday management delegated to the CEO and Leadership Team. The Trustee5 are appointed following an open recrutimenl process. The Trust undertakes induction and training for their role as Trustees. which follows the Charty Commission guidelines. Trustees serve for a period of three years and are eligible for re-ele￿iQn. Mark Stevens and Emrna Franas were re.eleded in February 2026. Tha group of 10 Trustees Indudes a parent of 8 young persM supported by the EN8n MaG4rthur Cancer Trust after treatment, ljvo Board members were previously $upported as beneficiarias. a retired p8ediatrtc oncology consullanl. an accountant. a tawyer, and 8xp8rts in fundraising and risk management investmen15. all of whom bring a broad spectrum of knowledge and experience to the Board. Trusteos, indemnity insurance Yias in place I￿oughoUt the peiiod. The Board has four ￿mm11te¢S which make recommendations to the Board. Their tem18 of reference are summarised below.. HR and Personnel Commlttee The HR and Personnel Committee focuses on tha Chari￿s staff taam and recommends to the Board the pay and remuneration of the Trust's key management personnel using appropriate benchmathng data and industy guidance. The committee liaises with the Chief Executive Officer as to the salaries etc. of the other employees. Remuneration is agreed annually in November. Governance Commlttee The Govemance Committee focuses on the Chari￿$ Poliaes and Procedures. ils Codes of Conduct, and Data Prolectlon Regulatlons. Inv8Stment and Flnance Commlttee The Investrnent and Finance Committee focuses on financial ar¢d operational perforrnan￿ and procedures. the Ellen Ma&qrthur Cancer Trust annual plans and budgets, and its investments and ￿ServeS. Equlty, Dlverslty & Inclusion Committeo The Equity. Diversity & Inc]usion Cornrrutt88 have responsibilty for guiding the strategic development of Equity. Diversity and Inclusion wrthin the charity. The Charlty Governance Code The Board of Twstees strives to adhere to the seven principles containéd the Charity Governance C¢)de for larger charities. The Board of Trustees contains indivi(￿al5 with a mix of skill sets, we openly recruit all new Trustees to en￿Urage as g wde a set of appliealions as possible. We currentFy have three Trustees who have Se￿ed for longer than nine years as highlighted in the Chai¢s reporL The Board takes into account thè need for progresslve refreshlng of the Board on the re-appolntment of all Trustees. The Trustees liaise regularty and meet at least four times a year. Given our size il is not considered proporttonate for Ihere tr) be a three year]y extemal review of thé Board. H¢)wever, in 2022 the Board undertook 8 review usiThJ The Govemance App and we continue to use the results to improve the govemanrR ofthe charity. ELLEN MACARTHUR CANCER TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 Fundraislng Code The Ellen MacArthur Cancer Trust 18 registered wth the Fundraising Regulator. and we use the Regulators, Codé to guidè our fijndraislng. All our fundr8lslng Is undertaken by In-house fundraisers emplcsyed directly by the charity or our volunteers and we do not use any third parties lo fvn¢Jraise on our behalf. We have a mixed portfolio of fundraising activity,. however. we do not undertake door to door or street fundraising and do not undertake any cloth8s C￿lectiOns. We have received no cofflplainls about our fundraising in this financral y6ar. Staff and volunteers receive training on trealir¢g people fairty and with respect and how to explain the differènce we make in way which does not mlsle8d people. as well as belng sensltlve to those who may be in vulnerable afcumstances. Employees The Ellen IAacArthur Cancer Trust currently has 15 full-time and 6 part-time employee5 and also employs seasonal Operation5 Assistants in the summer. Our yacht skippors are employed on a freelance basis. Volunteers The Ellen MacArthur Cancer Trust relies on fhe support of over 400 volunteers12024- 2501 %Mthout whom we could not contimje to inspire young people lo believe in a brighter fijlure living thr￿gh and beyond cancer. The vast majority of our vulunleers assist on our trips as medical volunteers. first mates or crew and group leaders giving up four OT five days of their lime to do so. We are also supported by volunteers helping with accompanying young people as they travel to the trips and those who assist fundraising everts. Rlsks and Uncertalntles The Trustees evaluate and consider the impaGt of identifiable risks on the ¢hgrity and have policies in place to minimise these. The heahh and safety of the young people on the Ellen MacArthur Cancer Trusys trips is of the utsnosl importance and is refiected in the Charity's procedures and policies. The Trustees review the risk register regularly. Bigger Impac( Brlghtor Futures - Our Ambltlons for 2023- 2025 How did we do? These are the higNighls of i)ur achiéveménts over thè past three years, Ambitions cycle. 8ulldlng Lwlonglng Our first Equity. Diverslty. Incluslvity 8nd Belonglng Plan 202>2026 provlded th8 bedrock lo addressing barriers to support and creating a safe community that celebrates everyone being their authentic self. while a new Rausm and Discrtmination reporting pffxess ts keeping us accountabl8. Went further Young people who need support beyond trips can now access free monthly online mental w8llb8ing support, d81iv&red by youth cancer mental health charity Mind Over Cancer from October lo May. alongside extende(I Specialist one40-one counselling for those more awte needs. Supportod more After the inevitable Impact of the pandemlc on our saSllng and outdoor adventures. 2023-25 saw a return to pre- COVID levels of young people supported with more than 650 experiencing the lif&chanyng magic of our trip8 in t(Jlh 2024 and 2025. Drove Impacl Impact measurement Using the Warwick-Edinburgh Mental Wellbeing Scale and a new real-time impact dashboard {dlenmacarthufcancertrusl.O￿1mp?CtI have been embedded in our work. Bejonging is measured using 'Recommendation to 8 friend. scores, whilè impad data is also now captured for siblings. ELLEN MACARTHUR CANCER TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 Developed voluntpers Our first Volunteer Strategy slrenglhened recruilmenl, onboarding, allocation, relènuon and èqulty. There are now 400+ volunteers supporting trips. events and olher activities. 168 volunteers and skippers weTe ￿ined in Menta] Health First Aid. and new RYA courses introduced to build sailing skills and increase impacL Shaplng th• system We teamed up with partners rn th8 young people'8 cancel sector on ground-bieaking research into the 'Stat8 of th8 System., then joirbed the visionary North Star Cancer Collective, created to lum key report findings into Syst￿￿- shifting action. Weathered the flnan¢lal stomi This peritxf saw significant economic instobiltty and a ¢ost-of-living erisis. To keep investing in y¢)ung people and our team, we managed our resefves with 8 plan lo retUTn lo a cash breakwan position in 2025. This was achieved by 8xcoading our 2025 £1.794.000 income target and a sharp focu8 on c08t control. Improved accèsslblllty The addition of Kalooki fo our fleet in 2025 meant we had three specially adapted yachts. Now evén more young people needing additional mobility support could benefit from 8 tran6formalional sailing adv8nlure. A fourth adapted yacht is due for launch in 2026 or early 2027. Talked 'dlff8r•nc• not do. Grounded in the Theory of Change outcomes froffl our 202(￿22 Amkn"lions. we put how the Ellen MacArthur Cancer Trust helps young people feel more accepted, Independent and optlmistlc at the heart of our messaging and communicattons. Connectlon. Belonglng and Brlghter Futures- Our Ambitions for 2026-29 Wa have now published our Ambition8 for the next four years 2026-29. These Ambitions are a mix of new ways to approach emerging challenges and evolving our established 202>25 Ambitions. They ensure the Ellen MaoArthur Cancer Trust heads into the next decade more confident, equitable and connected than ever. All defAsion-m8king must be rooted in tsu￿dIng b8longing by design and lived experience. for which we wll develop separate strategies to be accountable. Our Ambltlons for Young Peoplg and Slbllngs Know the need - speak to all young people's post-cancer r￿d$ and re81ibes. connecting and cC*nmUn￿l1ng in ways that remove ba￿1￿5 and says we'get it.. Nurturè nètworks - build and strengthen connections wth curr8nt and new sector partners - charty and clinical- and explore other opportunities to meet young people where they ore. DrtV8 Impact- ensuro 811 our programmes-first tim8 and retum trips, siblings and year-round mental wellbeing supwt- achieve th8 greatest impact at the right time. Our Ambitions for Income Dlverslfy income - continue to explore new and aStemative income sources so no one body r8presents more than 30% of our overall fijnding by the end of 2029. Grow loyalty relain and cultivate current supporters, maximlse our existing database. develop prospect pipelines and grow our netr￿￿kS through strong relationships and smart data use. Spend smart - exereise sound financial management through making careful and consaous spending and organisational investrnenl d￿ls1on$ that promote finanrial resilience. ELLEN MACARTHUR CANCER TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 Our Ambltions for OurseEvas Bè the ￿$t- lake pride in who we are and what we athieve as a confident, purpose-driven team and leaders in post-treatmenl supporL enabled by digital ex￿llenCe. Keep the maglc - understand the special 'Ellen MacArthur Cancer Trust magic. and ensure it remains at the heart as w8 grow and support more young people. Thlnk planet- continue becoming a more environmenlalty con8aou8 and 8uslainable organisation and further reduce the negallve Impact of our acliviles on the planet. We will measurè succèss In sevoral ways aeross the ninè Ambitions Includlng.. Using key UK demographic and population indicators and our Warwick-Edinburgh Mental Wellbeing Scale and Nel Promoter scoras to measure accessibility and impacL Increasing available trip spaces and percentsge occupancy to achieve real growth in young people. See suslalnable Income gro￿ of 15%+ between 2026 and 2029 wtlh no one funder represenllng more than 30% of wr overall funding and maintsining free reserves at betsveen six lo nine months of expendiluTe. Maintaining a 'meanlng' score of more than 85% In our annu81 employee engagement survey. Flnanclal Revlew and results for the year The Statement of Financial Activities (SOFA) sets out the results for the Ellen MapJ4rthur Can￿r Trust for the year_ Income This year, income increased by 23% to £2,333.638 {2024 increased by 13% to £1.901.242). Excluthng the reslricled donations for new yachts in both 2025 and 2024. income Ir￿reased by 19°h. The charity has a balanced wrtfollo of Income princlpally from five sources: Grant maklng twsls, Indlvldual donations, corporate sup￿[( events, and Community events. The Board of TTuslees would like to thank the charity's supporters, VDlunte8rs, fLmdrais8rs, and colleagues for their continu8d commilm8nl that h8s mad8 this possible. THANK YOU. Tnjst and Foundation grants account for around 48% of annual incomé from 45 organisabons (2024 - 54% of annual income from 45+ organisations} including a substanb'al annual grant from thè players of People's Poslcode Lottery, in addition lo grants from many charitable organisations induding Micha81 Cowan Foundation, EBM Charitable Trust, the Vvhithnd Trust, and the Meianie While Foundation. Substantial support is also received from indniidual donalions from members of the public accounting for 38% of annual income (2024- 27%)- In 2025 we also recewed valued support from suppliers such as Spinlock and Muslo_ This includes the much needed provision of lifejackets as well as clothing, both of which are e&senlial in supporting our young people on trips. In addition. we benefited from the provision of offiee space and professional services. As detailed in Note 3, th8 totat Val￿ of all of this support was £93,781 in 2025 (2024.. £44,230). ATI portfolio percentages diselosed for both 2024 and 2025 exdude the d¢)nations for new yacms to provide a more accurate representation of the underfying pc4tfolio of income for the Ellen MacArthur CancerTrust. ExpendStUfe The costs of supporting young people living through and beyond cancer was £1.473.254 118% of total Spe￿ in 2025 {2024 - £1.524.939- 76% of total spend). ELLEN MACARTHUR CANCER TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 Summary The Trust incurred a surplus of income over expenditure of £484,670 {2024 - surplus of £17,333) on combinad funds. and a ￿rpluS of £64,6S7 on unrestrlcted funds12024- deficit of £29,384). Nel assets of the Ellen MacArthur Cancer Trust in unrestricted funds amounted to £1.888.329 at the year-end (2024 - £1,823,672). The expendable endowment funds are staled at £736.625 at the year.end12024 - £729,324}. The cash positton shows a balance of £725,253 {2024 - £303.566}. Capital commitments al 30 November 2025 not provitled fr)r in the financial statements were £304,339 {£2024- £nlll. ResgTves Pollcy The Charity makes no charge for its services. receives no slalulory funding, a￿1 has minimal trading income. It is entirely retiant on voluntary donations to fvnd its life-changing trips. ensuring that il 18 able lo uphold the long-temi commitments il promises the young people it supports. As a dynamic organisation relying entirely on volLrntary income. the Trustees. objective is to hLld adequate reseNe6 so that the Ellen MacArthur Cancer Trust can react lo challenging economic conditions, unexpected ev8nts or unforeseen opportunities to further ellha￿￿ its support foi young people livin9 through and beyond cancer. The Trustees regularfy rewew the level of reserves. forecasts of secuTa and potential income, and committed and lorecasled expenditure to ensure that the Twsl can fulfil all ils commitments for the year ah&ad. The Trustees also determine how much. if any. should be transferred to the Designated Fund for Vessel Replacement and Maintenance. In part due to the donation to f￿d the replacement of Moonsway, the Trustees decided to maintain the Designated Fund at the 2024 level of £100,000. The Ellen MacArthur can￿ TrusY8 reserves at 30 November 2025 are set out as follows.. General unrestricted funds 8t the year-end are £1,788,32912024- £1,723,672). Designated funds for Vessd Replacement arKI Maintenance are £100.000 (2024- £100,000). Restricted fvrmls are £430.962 {2024- £18.2501. Expendable endowment funds are £736.625 (2024 - £729.324). Total funds are £3,055.916 (2024- £2,571,246). Free reserves. being the total reserves available less those reservès whose uses are rèstrieted or tllocated and designated to flxed assets. amount lo £1.202.814 (2024 - £1.106.111) {see Notes 20 and 211. This represents 64% of 2026 budgeted expenditure excluding depwiation {2024- 60%). The Trustees consider assessing reserves on a liquidity basis, rather than using unrestricted funds, provides a more reliable indicator of the Charity's ability lo meet ils financial commilmenis as th8y fall due. Al the same time, the Tru51ees are mindful that the Charity exists to delwer its charitable purposes and therefore aim to avoid holding excessive reserves th81 could Othe￿Se be used to support young people living through and beyond cancer. The Tnjstees. objective is therefo￿ to malntain an appropriate balance be￿een ensuring financial resilienGe and maximising the resources available for chariÉabfe activib"es. At the ye8r end, the Charity's liquidity positron, comprising eash balances and net working capital. less approv8d capital commitments and restricted donations that wll be Spent in 2027 arKI beyond, was £1.346.640 (2024 £1,224,361). This represents 8.5 months of budgeted expenditure in 2026 {exduding depreciation) {2024 months) and Is ￿thIn the slx to nlne months range considered approprfate by the Trust8as undar the Reserves Poliw. The Ellen MacArthur Cancer Trust is currenuy budgeting for a planned deficit in 2026 as it progresses its objective of increasing the number of young people il supports each year. Th8 Trusteès arè satisfied that this level of liquidity provides sufficient working capital to manage seasonal cash flow fiucluations. meet oxisting commitments. and mitigate str)rt-temi income volatility, while continuing to invest prudently In the delivery of the Chartty's slr8teglc objectives. Liquidity 18v81s and r8s8rvas pasilions will be monitored d05dy throughout 2026 and beyond as part of th& approvals of future budgets. capital spend, and the implementation of the 2026-2029 Ambitions. ELLEN MACARTHUR CANCER TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 Invostment Pollcy The investments of £1,385,529 (2024- £1,422,502) as al the y8ar-end (see note 151 held within Ihe Charity are invested to meet it8 long-lemi objectives. A professional Fund Manager undertakes the investment of the funds WKI ensures th8 objectnl8s are m8t arKI invosted prudenly over the long-term for the benefit of the Twsl. The expendable endowment funds afe held as fixed assets with an objective of maintaining c8pitsI whilst generating an incom8 slr8am to further th8 activities of the Trust in the longer terni. Other funds are held in a mixture of current asset investments and cash for the purpose of Safeguarding the day-to-day operations of the Trust. whilst generating capital growth and incomé to offsetthé effècts of Intlalion. Currently the investments are m8naged by Cazenove Capital Management Limited. on a discretionary basis. with the exception of the Grinlon fund. The inveslm8nl performan￿ achieved by Cazenove is measured against composite portfolio benchmark agreed by the Trustees. Cazenove is required to attend regular investment meetings wth the Tnjst's Investment & Financè Committèe to eomment on its investment strategy and perfom8nce. No funds will be Invested directly in companies promoting, producing or manufacturing tobac￿ products. The Trustees are satisfied the performance of the investments over the last 12 months. with income of £52.178 {2024- £40.365) realised gains of £7.820 and unrealised gains of £40,771 (2024 gains of £133,906). The Investment Policy will to reviewed in 2026 as part ofthe Trustee5' regular gI)Vernan￿ gnd wogramme of policy reviews. Trustees. R•sponslbllltles The Trustees. who are also the direclots of Ellen M8eArthur Cancer Trust for the purpose of company law. are responsible for preparing the Truslee$' Report and the financial statements in accordance applicable law and United lQngdom Accounting Standards (United Kingdom Gerwalty Accepted Accountir￿ Procticel. Company Law requires the Trustees to prepare financial slalements for each financtal year. Under company law the Trustees must not approve the financial ststemenls unless they are satisfied Ihat they give a t￿e and fair view ol the state of affairs of the charitable company and of the incoming resources and appllcab'on of resources, including the income and expenditure, olthe charitable company for that year. In preparing these financial statements. the Trustee8 are required to.. selecl suitabFe ac￿)unting PD]ia8s and then apply them consistenly; observe the melhods etvl prin¢iples in the Charbtias SORP 2019 IFRS 102). make judgements and estimate5 that are reasonable and prudent.. slate whèther applieable UK Aceounling Standards have been foll0v￿d. subject to any material departures disdosed and explained in the financial statements-, and prepare the financial statements on the going eoneem basis unless il is inappropri81e to presume that the charilable comparry will ¢onlinue in operation. The Trusteés ar8 responSi￿e lor k88ping adequate accounting records that disd05e with reasonable acGuracy al any time the financial position of the charitable company and enable them to ensure that the financial slalemerrts comply with thè Companies Act 2006, the Charities and Trustee Investment (ScoU8nd) Act 2005 and the Chariti8S Accounts (Scollandl Regulations 2006 (as amended). They are al80 responsible for safeguarding the assets of the charitable company and hence for tsking reasonable steps for the Preventi￿ and detection of fraud and other Itregularilie5. 10- ELLEN MACARTHUR CANCER TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 statement a$ to Olsclosurè of Infomation to Auditors So far as the Trustees are aware.. there Is no relevant Informallon of whlch the Trusys athjltors are unaware.. and the Tru51ees have taken all necessary slep5 that they ought to have taken in order to make Ihgmsthes ?￿re of all relevant audit infomation and lo establish that the auditors are aware ofthal information. This report. which al80 meets the requirements of thè Directors. Report for company law purposes. has been prepared in accordanc8 wth the special provisions applicablé to small companles and the charitles SORP 2019 {FRS102). Approved by tha Trusl8es and signed as aLthorts8d on their behalf by: Dr Davld Hobin Chalr of Tru$tèé$ ELLEN MACARTHUR CANCER TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF ELLEN NIACARTHUR CANCER TRUST Oplnion We have audited th8 financial slatem8nls of Ellen MacArthur Cancer Trust (the 'charitsble compary'l for th8 year ended 30 November 2025 which comprise the statement of financial activities, the summary income and expenditure account, the balance sheet, the statement of cash flows and the notes lo tha financial statements, induding a summary of stgnificant accounting policies. The financial reporting framework th* has been applied in their preparation is applicable law and United Kingdom A￿OuntIng Stsndards. inclu¢Jing Financial Reporting standard 102 The Finanaal Reporting Standard applicatle in the UK and Republic of Ireland IUni18d Kingdom Generally Accepted Aceounting Pradice). In our opinion, the financial statements.. give a Irue and fair view of the state of the charitable company's affairs as al 30 November 2025 and of its incoming resources atvj application of resources, ]nd￿lIng ils income and expenditure. for the year I￿n ended- have b6en properfy prepared in accordance with United lfjn9dom Generally Accepted Accounling Practio.. and have been prepared in accordan￿ with the requiremertts of the Companies Act 2006. Basls for oplnlon We conducted our audit in aecordanc6 with Intèmational Standards on Authting {UKI (ISAS (UKI) and appficable law. Our responsibilities under those stsndards ore fvrther described in the Audilorfs responsibilities for the audit of the financi￿ slat&ments section of our report. W8 ar& indep8nd&nl of th8 charitab18 company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in aGcordance with these requirements. We believe that the audit evidence we have obtain8d 15 sufficient and appropriate lo provide a basis for our opinion. Con¢luslons relatlng to golng concern In auditing the financial statements, w8 have concluded that th8 trust8és' use of the goir¥J concern basis of accounting in the preparation of the financia statements is appropriats. Based on the work we have performed, ￿ have not Identified any material uncertainties relating to évents or eondilions that. individualty or collectively. may cast significant doLbbl on the charitable companys ability lo wntinue as a going concem for a period of at least ￿1ve months fnjm when the financial statements are authorised for Issue. Our reSpOr￿1b1lltles and the responsibilities of the Trustees wlh respect to going concern we described in the relevant sections of this report. Other Infomiatlon The other infomiation comprises the infomiation induded in the trustees. annu81 report other than the financial slatsments and our au(litofs report Ihereon. Th8 Trustees are responsiblè for the other infomation contained wlhin the annual report. Our opinion on the flnancial slatemenls does nol cover the other information and. except lo the extenl otherwise explicitly slated in our report. we do not express 8ny fomi of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so, consider whether the other infom)alion is materially inconsisl&nl wth tha finanual stalemonls or ow knowledge obtained in tha course of tho audit, or othe￿iS8 appèars to be materially misstated. If we identify such malerial inconsistencies or apparent material misststements, we are required to detemiine whelher this gives rise to o material rni$5tstemenl in the financial statements themsejves. If, based on the work we have perfornied, we condude that there 15 a material misslalement of this other infomiation. we are requlred to rèport that fact. We have nothing to report in this regard. 12- ELLEN MACARTHUR CANCER TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS AND TRUSTEES OF ELLEN MACARTHUR CANCER TRUST Oplnlons on other matters prescrlbed by the Companies Act 2006 In our opinion, based on the work undertaken in the counse of oui audit.. the infomialion given in the Irus18es' report for the financial year for which the financial Statements are prepaTed, which indudes the directors. report and the strategic report prepared for the purposes of COTnpany law, is consistent wlh the financial slalemenls- and the strategic report and the directors. report included wthin the tfUStees' report have been prepared in accordance wth ap￿1¢able legal requirements. Matters on vthlch w& are requlred to report by excepllon In the light of the kno￿edge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misststsmenls in the stratsgic report or the directors, report included within the trustees. report. We Piave nothing to report in respect of the folh)wing mattws in relation to ￿1¢h Ihe Comp￿leS Act 2006 requires us lo report to you if. in our opinion-. adequate accounting records have not been kept. or returns adequats for our audit have not been received from branches not visited by us,. or the financial slalements are not in agreement with the accounting records and r6tums,' or eertain di8closures of trustees, remuneration specified by law are not made.. or we have not re￿iVed all the infomation and explanations we require for our audit. Responslbllltles of Trustees As explained more fully in the slatemenl of trus*ee8' re4)onsibilities, the Trustee8. who are al80 the dire¢Eors of the charitable company for the purpose of company law, are respunsible for the preparation of the finanaal statements and for being satisfied thal they give a true and fair view. and for such inlemal control as the Trustees determine is necessary lo enable the prepaTation of finan¢ial ststements that are free from material misststemenl. whdher due to fraud or error. In preparing the fin8ncial stslemenls, th8 Trustègs ara responsible for asses&ng the charitable company'8 ability to continue as a going concern. disclosi￿. as applicable, matters related lo going concern and using the going concem basis of accounting unless the Trustees either interKI lo liquidate the charilable Company or to cease operations, or have no realistic altemalive bth ID do so. AudFtor's responslbllItles for the audFt of the financial statern8nts Our objeth"ve$ are lo obtain reasonable assurance about whether the finanual statements 8s a whole are fr8e from material misslatemenl. whether (Jue lo fraud of error, and to issue an auditorfs report that includes our opinion. Reasonable assurance Is a high level of assuwce but is not a guarantee that an audit conducted in a(￿rdance th ISAS {UK) wll always detect a material misstatement when li exists. Misstalemenls can arise from fraud or efror and are considered material if. individually or in the aggregale, they could reasonably be expected lo inftuence the economic deusions of users taken on the basis of Ih&se financxal slalements. A further description of our responsibilities for the audit of the financtal statements Is located on the Finan(yal Reporting Council's website al.. www.frc.org.uklaudilorsresponsibilities. This deSCrip￿On foms part of our audltorfs report. Irregularities, induding fraud, are instaneés of non-eompliance wlh laws and regulations. We design procedures in line with our responsibilities. ouuined above. lo detect material mis8talements in respect of irregularities, incluthng fraud. The extent lo which our procedures ale capable of delecling irregularities, including fraud is detailed below.. Explanat]on as to what extent the audlt was conslderod capablg of dgtOCtlng Ifrogularltlo$. Includlng fraud The objectfves of our aLtdil In respect of fraud. are; lo identify and assess the risks of malenal misstatement of the financial statements due to fraud- to obtsin suffiaenl appropriate audit evidence regarding the assessed risks of mateiial misstatement duè to frau(I, through designing and implementing appropriate responses to those assessed risks., and to respond appropriately to instsnces of fraud or susp8Cted fraud idenlifiad during the audit. However. the primary responsibility for the prevention and detection of fraud resls with both management and those charged wlh govemance ofthe charitable Cfxnpany. 73- ELLEN MACARTHUR CANCER TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS AND TRUSTEES OF ELLEN MACARTHUR CANCER TRUST Our approach was a5 follows: The engagement partner 8elected staff for the audit who had prior knowledge of the clienl and who had the required competence and skllls to be able to Identlfy or recognlse non-eomplianee with law5 aTh regulations. We assessed the rrsk of irregulartties as part of our audit planning. and ongoing review. including those due to fraud. management overrid& was identified as a significant fraud risk. This is Llue to the ability to bypass controls through inappropllate expenditure and accounting policies adopted. Some income received 18 restricted in it8 Use and a sigrwficanl risk was identified regarding the correcl dassifiGalion of income between restricted and Lmrestrlcted funds and that the expendlture agalnst thts income was in line with any specdfied restrictions. Revenue recognlllon was 81so Identlfied as part of our audll p18nnlng as a sigraflcanl risk to the audrt. Although the processing and recording of transactions is straight forward. there is the risk that revenue might not be recognised wthin the correct accounting period. We obtained an understanding of the legal and regulatory requirements applicable to thè charity and we considered the most significant to be Charites Act 2011, the Charity SORP. the Charities and Ttustee Investment Iscouandl Act 2005, Charities Accounts {Sco118ndl regulations 2006. UK financial reporting stsndards as issued by the Financial Reporting Council and UK Taxation legislation. We conslder8d how tho ¢haTilable company complies wtth these requirements by discussions with management and those charged with g0Vemar￿e. We inquired of management and those charged governance as lo any known instances of non- compliance or suspected non-complian￿ with laws ar￿j regulations. c(￿sideration was al80 made of the inlemal controls in place lo miligate the identified risks. We assessed the control environment, documenling the systems. conlrols and PToces8es adopted. The audit approath incorporated a combination of corstrols where appropriate, analytical reviow and substantive procedures involving t8sts of transactions and balances. Any irr8gularib8s noted were discussad ￿th management and additional corroborative evidence was obtained as required_ To address the risk of froud through monagement overrtde we: performed analytical proce(Sures lo idenlfy any unusual or unexpected relationships,. tested lournal entries to Identify any unusual transactions.. tested items of expenditure to ensure that they were valid and apKKOPriate,- assessed whether judgements and assumptlOn5 made in determining the accounting e5timate5 were Indicative of potential bias. in particular in respect of residual values.. and reviewed the disclosure8 within the financial statements to ensure they meet the requirements of the accounting star)dards and relevant legislation. In response lo the classification of income befv￿en restricted and unrestricted we: agre8d a sample ol income recorded in th8 nominal ledger lo source documentalron lo ensur8 any restrictions were corredy identified,. tested a sample of expenditure lo ensure that they had been allocated to the appropriate fund- Confirmed expenses and payroll costs allocated against restricted fLmds mel the purpose for which the income was given.. and reviewed the dients analysis of restricted fund8 for any obvious misallocatiorss of income or expenditure. In response to the risk of irregularities with regards to recognition of incom& we: vouthed a sample of donations and grants received in the year lo supporbng documentslion: vouched 8 sample of donations and grants received around the balance sheet dale to agree income has been included within the correct accounting period.. reviewed documenlalion relating lo legaaes, ensure non8 wer8 omitted from th8 accounts. and r￿lewed supporting documentation IOT ineomé deferred in the period. 14- ELLEN MACARTHUR CANCER TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS AND TRUSTEES OF ELLEN MACARTHUR CANCER TRUST Use ofourreport This report is made solely to the charitsble compan*s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we M￿ht state to the charitable companls members those matters we are require¢J to stale to them in an audilorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than fhe charitable company 8nd the charitable company's members as a body, for our audit worL for this report. OT for the opinions we have forn￿d. Louise HaS￿n98 {Senior Statutory Audltor) For and on behalf of Moore {Soulhl LLP, Statuiory Auditor Chart8r8d Acc￿ntants Cty Gatss 2- 4 Soulhgate Chich8sler Wesl Sussex P019 8DJ ELLEN MACARTHUR CANCER TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2025 Unrestrlcted Rèstricted Endowment funds funds funds Total 2025 Tt)tal 2024 Notes Income from" Donations and legacie¥ oth8r trading activities- ftjndraising events Investments 1.687.998 802.689 2.270.687 1.850.816 10,773 28.488 10.773 52.178 10.061 40.365 23.890 Total Income and endowment8 1.707.259 602.689 23,690 2.333.638 1,901.242 en(Fiture on: Raising funds 408,320 1,383 409.703 478,113 charitable activibes Other 1.283,277 14,602 189.977 1.473.254 1.524.939 14.602 14.763 10 Total resources expended 1.706,199 189.977 1,383 1,897,559 2.017,815 Nel gains on investmanls 11 40.664 7.927 48.591 133,906 Net Incomlng resources beforg transfers 41.724 412.712 30,234 484.670 17.333 Gross transfers be￿een fjJnds 22,933 122,9331 Net movement in lunds 64,657 412,712 7,301 484,670 17.333 Fund balanc￿ al 1 December 2024 1.823.672 18,250 729.324 2.571.246 2,553.913 Fund balance5 at 30 November 2026 1.888,329 430,962 736.625 3,055.916 2,571,246 The ststement of finandal aclivlties Includes all gains and losses recognised ￿ the year. All income an expenditure derive from continuir¥J a¢liviti8S_ 16- ELLEN MACARTHUR CANCER TRUST SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2025 All Income funds 2026 2024 Gross income Gains on investments Transfer ffom endowment funds 2.309.948 40.664 22,933 1,878.400 102,563 22.082 Total income in the reFK)rting period 2.373,545 2,003,045 Total expendrture from incomè funds 1.896.176 2,016,449 Net Incomel(expendlturel forthe year 477.369 (13.404) 17- ELLEN MACARTHUR CANCER TRUST BALANCE SHEET AS A T30 NOVEMBER 2025 2026 2024 Notgs FLxgd assets Tangible assets Investments 14 15 661,600 736.625 617.561 729,324 1,398,225 1,346,885 Current assots Debtors Inv8slments Cash al bank and in hand 17 15 460.049 648.904 725,253 352.918 693,178 303,566 1,834,206 1,349.662 Crèdltors.. amounts falllng due wlthln one yèar 18 (176.515) {125,301} Nel cuffent assets 1,657.691 1.224.361 Total assets less current Ilablllues 3,055,916 2,571,246 Capltal funds Expendabl8 endowment funds 22 736,625 729.324 Incomo funds Reslricled funds Unrestricted funds Designated funds General unreslricted funds 19 430.962 18.250 20 100.000 1.788.329 100.000 1.723.672 1.888.329 1.823.672 3,055,916 2.571,246 These financial statements hav8 been prepared in accordance wth the provisions applicable to companies subject to the small mnponies regime. Thefi ancial stateme 01 were approved by the Trustees on ........ JMRos5 Trusteg Company Reglstratlon No. 04597114 18- ELLEN MACARTHUR CANCER TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 NOVEMBER 2025 2025 2024 Notos Cash flows from oparatlng actlvltlos Cash generated froml{absorbed by} operations 27 376,904 199,617) Investlng actlvltles Purch85e oftangible fixed assets Pro￿?￿$ from disposal of inveslrnenl$ Investment incom8 received {￿.913) 103,397 33.067 {342.821} 202,817 40.365 Nat cash generated froml{us•d in) inv8sting actlvltles 45.551 {99.639) Net cash generated from flnanclng a¢tlvltle$ Net Incrèasel(decrease) In cash and cash equivalents 422,455 {199.256} Cash and cash equiv8lents at beginning of year 306,429 505.685 Cash and cash equlvalents at end ofy8ar 728.884 3C6.429 Relatlng to- Cash at bank and in hand Short temi deposits induded in ￿rrent asset investments n5,253 303.566 3,631 2.863 ELLEN MACARTHUR CANCER TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 Ac¢ountlng pollcles Charfty Infomiatlon Ellen MacArthur CanGer Trust is a private company limited by guarantee incorporated in Englarid and Wdles. The registered office 18 Unils 53-57. East Cowes Marina. Off Britannia Way, East Cowes. Isle of Wight. P032 6DG. In the event of wnding up. the members agreo lo contribute a sum towards 8ettling ils liabilili6s not exceeding £1 eaeh. 1.1 Ac¢ountlng conventlon The financial statemen15 have been prepared In accordance with the Charitable company's Artides of Asso¢iation, the Companies Act 2006. the ch8rikn.es and Trustee Investment {Scotland) Act 2005. the Charities Accoun15 {ScoUand) Regulations 2006 {a5 amended). FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. I'FRS 102.1 and the Charities SORP "Aeeounling and Rewrting by Chawities.. Statement of Recommended Prath"ce applicable lo charities preparing Iheii accounts in accordance with the Financial Reporting Standard applicable in th? UK and Republic of Ireland IFRS 102}" (effedive 1 January 20191. The eharilable eompany 1$ a Public Benefit Entity as defined by FRS 102. The financial slalements are prepared in steding, which 18 the functional currency of the charitable company. Monetsry amounts in these financial slalemenls are rounded to the nearest £. The financial statements have been prepared under the histodGal cost convenlion. other than the revaluallon of invesknents which is al market value_ The principal accounting policies adopted are set out below. 1.2 Golng concern At the knme of approving the fin8ncial statements. the Trustees have a reasonabl8 expectation that the charrtabl8 company has adequate resources to continue in operational existence for the foreseeable future. Thus, in Ihè absènc8 of any material uncertainli8s, the Trustees continue lo adopt the going ¢oncem basis of accounling in preparing the financial statements. 1.3 Charitsble funds Unrestricted funds are available f¢x at the discretion of the Trustees in fL1rtheran￿ of thwr thalltable objeclives. Designated funds comprise funds ￿lch have been sel aside at the discretion of the Trustees for speufic purposes. The purposes and uses of the designated funds are set out in the notes lo the financial statements. Restricted funds are subject lo specific ￿nditionS by dt)nors or grantors as to how Ihey may be used. The pury)oses and uses of the restricted funds are set out in the notes lo the financial slalements. Endowinenl funds are subject to specific conditlOn5 by donor5 that the capital musl be maintained by the charitable Company. ExFendable Endowments permll the Charity to spend the capital sum on suitable capital projects with the pem)ission of the donor. Income arising on the endowment funds can be used in accordance th the objeGts of the charity and is transferred lo the general fund5. Any Gapital gain5 or1055es arising on the investments fomi part of the fund. Investment management charges and leg81 advice relating lo the fund are charged against the relevant fund. The purpose and use of each expendabl8 endowment fvnd is set ¢￿t in the notes to the financial statements. 1.4 Income Income Is recognlsed when the charhable company Is legally enlilled lo It after any Ferfom)ance conditions have been met, the amounts can be mea8ured reliabty. is probable that income wll be received. ash donations are recognised on receipt other donations are reGognised on¢e the charitable wmpany hos been notified of the donation, unless perforniance conditions require deferral of the amount. Income lax recoverable in relation to donations received under Gift Aid or dèeds of covènant is recognised at the time of the rjonation. -20- ELLEN MACARTHUR CANCER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 Accounting policies {Contlnuedl Legacies are recognised as re￿1vable once probate has been granted. notification has been received. and suffiuent inf0m￿tion is available to make a reali51ic assessment of the value of the charitable company's entitlement. Residuary legacies are subject lo further redudign to rellect the impact on the valuation of unrealised eslal8 assets of subsequent movements in prop8rty and inveslm8nl mark8ts. Income eamed from fundraising events and trading activitie8 to raise fund8 for the charity are recognised when enlillemenl has occurred. Income from Government and other grants are re￿gnised at fair value when the charity has enliuemenl after any performance conditions have been met, it is probable that the income will be received anii the amount can b8 measured reliab]y. If entillem8nt is not m81 th8n these amounts are deferred. Investment income 18 eamed through hol(ting assets for investment purwses suGh as shares. bonds and cash deFrf)sits. It include5 diTrridends and interest. 1.5 Expendlturn Ex￿ndItuTe is recognised once there is a legal constfuclive obligation to transfer economic benefrt to a third party, it is probable that a transfer of economic benef￿ will be required in settlement, and the amount of the oblrgation can b8 m8asur8d T81iably. Expenditure is classified by activity. The Gosts of eath activity are made up of the lolal of direct costs and shared costs, including support costs involved in widertaking each activity. Direct costs attributable to a single activity are allccated diredy to that actNity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportionad btha8n those aclNiliès on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spert ar depreciolion charges are allwaled on ￿ portion of the asseys use. All expenditure is a￿Unted for on an accruals basis and has been classified under headlngs that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation lo make payments to third parties. il is probable that the settlement will be required. and the amount of the obligation can be measured reliably. It is categorised under th6 following h&adings.' Costs of raising funds indudes details of the costs in relation to fvndraising events, following up donations, and seeking voluntary contributions and donations from supporteTS, and available sources: Expenditure on chartlable activiltes indudes the costs ol the charlty's work with young people, sailing trips and other residential acti￿tteS including all planning activities. maintenance of the Charitys ass8ls, preparation and follow up- and Other expenditure represents thosé items not falling into the categories above. Irrecoverable VAT 15 charged as an expense against the activity for which expenditure ar￿Je. Support costs are those that assist the work of the tharkty, bul do not direcdy represent charitable activities and in¢lude office costs. governance cosls. administrative and payroll wsts. D?labase developments and communications costs are deemed a support function. allocated equalty between chaiilable activittes and fundraising. to reflect the work Nmlh young people indu(&ro recruitment, and raising fLrnds. Support functions are inGUtred directly in support of expendiluie on the objects of the charity and indude project m8n8gement carried out al the Ch8rity's main bases al Cowes. and Largs. ￿￿ere support costs cannot be diredy altribuled to particular headings. they have been allocated to cost of rai8iThJ funds and expenditure on charttable activitios on a basis consistent with use of the resourcfjs. Pfemises and other overh8ads hava b88n allocated on a basis relating to use and the proportion of staff lime incurred on thos8 matters. 21 ELLEN MACARTHUR CANCER TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 AccountlTrg pollcles {Contlnueql) 1.6 Tanglbl8 fixed assots Individual fixed assets costing £1.500 or more are capitslised_ Tangible fixed as88ts are initially maasured at cost and sub80quenlly measured al cosl or valualion. nel of depreciation and any imp8imient losses. Assa15 in the couise of construction are not depreciated until brought into use. Depreciation is recognised so as to write off the cost or valuallon of assets less Ihelr reskfual values over their useful lives on the following bases= Salling craft Improvements to leasehold prop IT equipment Motorvehicfes SaS1ing equipment and fixture and fittlngs 8 y8ars Life of the leas 2 to 5 years 8 years 3 years The gain or loss arising on th8 disposal of an asset is determined as the difference be￿een the sale proceeds and the carying value of the asset, and is recognised in the statement of finaneial adiviliès. 1.7 Flxed asset Investmgnts Fixed and current asset inveslmerts ate initially measured al transaction prico exdutJirKJ transaction costs, arKI are subsequently measured at mid market value al the end of each period. Changes in valu8 are recognised In nèt Incomel(expendilure} for the year. Trnnsaction costs are expensed as incurred. 1.8 Impairmant of flxed assèts At each reporting end dat8, the charitable company reviews the carrying amounts of ib tangible as8ets to determine whether Ihere 15 gny indication that those assets have sufferèd an impaimienl 10s8. If any such indication exists, the recoverable amount of the asset is estimated in order lo determine the extent of the impaimient loss lif any). 1.9 Cash and cash oqu5valents Cash and cash equivalents include cash in hand, deposits h&ld al call vmh banks. other short-term li(wid investments wth original matuiilies of thiee months or less, arKI bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Any changes In value In the year are recognised in net incomellexpenditiwe). 1.10 Flnanclal Instrumènts The chaiilable company has elected to apply the provlsions of Section 11 'BasK Finanaal Instruments. and Seciion 12 '01her Financial Instruments Issues, of FRS 102 to all of ils finwial instruments. Financial instruments are r8cognised in the charitable company's balance sheet when the chaiitable company becomes paty to th8 Cryjtractual provE￿On& of th8 instrumth. Finanaal assets and liabilities are offset. wth th2 net amounts presented in the financtal slalements. when théré is a legally enforceabl8 rfghl to sel off the recognlsed amunts and there Is an intention to settle on a nel basis or to realise the asset and settle the liability simultaneously. Basic financiTal assets Basie finan￿81 assets. whieh include debtors and cash 8nd bank b81ances, 8re initially measured at transaction price includillg transaction costs and are subsequently cairied al amortised cost using the effective interest method unless the arrangement conslilutes a financing Iransaclion, Ythere the transaction is measured at the present value of the ftAture receipts discounted al a Ma￿at rate of int8r8sl. Finanaal assets dassified as receivable within one year are not amortised. .22- ELLEN MACARTHUR CANCER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 Accountlng pollclps IContlnued} 8eslc financial liabilities Basic finanaal liabilities. induding ¢reditors and bank loans are initially recognised at transaction price unless the arrang8menl constitutes a financing transaction, where the debt instrument is measured at thè presènt value of the lulure paymènts discounted at a market rate of inleiesl. Financial liabilbknes dassified as payabte wilhin year are not amortised. Debt instiumenls a￿ subsequently carried at amortised cosl. using the effectiv8 int8resl rate method. Trade creditors arè obligations to pay for goods or servlces that have been acqulred in the ordinary wurse of operations from suppliers. Amounts payable are classified as current liabilities if paym8nl is due within one y8ar or 18ss. If not. they are presented as non-cuffent liabilities. Trade creditors are recognised inib'ally at transaction price and subsequently measured al amortised cost using th8 effedive interest method. Derecognition ¢1 financial Ilabllltles Financial liabilities are d8recognised when the charitable companl8 conlraclual obligations expire or are discharged or cancelled. 1.11 Leasos Rentals payable under operating leases, including ary léasa incentives received, are charged as an 8xpense on a $tr8ight lin8 basis Dver the temi of the relevant lease. 1.12 Penslon costs Staff and pension costs ar8 recognised as incurred with all assoGiated cost8. The retiremenl benefits for specific employees of the Trust are provided by a money purchase scheme wth ￿tb$h Equitsble. The Trusfs obligation is restricted lo their ￿ntributiOns. 1.13 Taxation The charity is an 8x8mpt charity within the meaning of schedule 3 of the Charities Act 20118nd is consideréd to pass the tests sel out in Paragraph I Sche£lule 6 Finance Act 2010 and therefore it meets the definition of a charitsble Company for UK ￿[poration tax purposes. 1.14 Donatod facllltlesj goods and servlces Donaled farylities, goods and prgfessiona] services are reco9ni8ed in income 81 their fair value wh8n their economic benefit is Probable, they can be measured reliably. and the chartty has control over the items. Fair value is determined on the basis of the value of the gift to the charity. For èxampl8, the amount the charity would be wlling to pay in the open matket for such facilities. goods and seNices. A corresponding amount Is rgcognised in expenditure. No amount is included in the financial statements for volunteer time in line YJith the SORP 2019 {FRS 102}. Further detall Is glven In the Trustees, Annual Report. Crftlcal accountlng estknat•s and Judgoments In the application of th& charitable company's accounting poliaes. th8 Trustee8 are required to make judgements, estimates and assumptions about the carrying amount of 8ssÈts and liabiltties thal are not readily apparent from other sources. The estimates and associated assumptions ar& based on histrjrical experience arKI other factors that are considered to be televant. Aciual results may rfrffer from these estim?les. The e¥timates and underlytng assumptions ar8 reviewed on an ongoing basks. Revisions to accountlng estimates are recognised in the period in which the estimate is revised ￿ere the revision affects only thal period, or in the period of the revision and future periods where the revision affec15 both cutrenl and fvlure periods. -23- ELLEN MACARTHUR CANCER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 Crlucal a¢¢ounllng estlmatss and Judgoments (Contlnued) Key soure88 of estlmatlon uncertalnty Resldual value of salllng craft Management consider the residual value of the Sailing craft annualFy. they utilise their own experience arKI also seek guidance from experts in the field. The sailing craft are then depreciated over 8 years lo the deemed residual value. This should have the impaet of refieeting the use of the assel and reduang significant gains and losses on disposal of assets. Donatlons and 18gacl8s Unrastrlctsd Restrlctgd funds funds Total 2025 Totsl 2024 Individual donations IndNidual donations through fundraising events Corporate donations Legacies rec8ivab18 chartb.es and trusts Fundraising from festivals 546,182 135,820 142.308 5,000 727,730 110,958 391,796 937,978 135,820 142,308 5.000 938,623 110,958 354.595 87,752 66,824 19,000 1,148,876 173,￿9 210,893 1.667,998 602,689 2,270,687 1,850,816 For thfr year endad 30 November 2024 1,4[￿,563 444,253 1.850.818 Donations include gifts in kind of £93.781 (2024 - £44.230) in respect of legal services. dothing, lifejackets, travel costs and rent12024 in respect of legal services. clothing, life jacket seryice and travel costs). Income from other trading activtiies Unrastricted Unrestrictod funds funds 2025 2024 Furmfraising 8v8nts and sale of merchandise 10.773 10.061 Incom9 from Investments Unrestricted Endowment funds funds 2026 2025 Total Unrestrlcted Endowment funds funds 2024 2024 Total 2025 2024 Investment income and interesl 28,488 23,690 52,178 17,523 22,842 40.385 -24- ELLEN MACARTHUR CANCER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 Net movement In funds 2025 2024 The net movement in fvn(Is is Stsled after ch￿ing1(credrtin9). Depreciation of owned tangible fixed assets Operating lease charges 46,874 39.052 34,705 35,102 Ralslng funds Unrestrlcted EndoTbvm8nt fund5 funds Totsl 2025 Total 2024 Fundraisin and ublici Fundraising ￿$1$ to support young peop￿ with cancer Staff costs Support Costs 54.095 299,737 52,063 54.095 299,737 52.063 98,660 312,968 62,053 Fundiaising and publicaty 405.895 405.895 473.681 Investment m8nag8menl 2,425 1.383 3.808 4,432 408.320 1,383 409,703 478,113 For the year ended 30 Novèmber 2024 Fundraising and publicity Investfflent management 473.681 3,(￿6 473,681 4.432 1.366 476.747 1.366 478.113 Charttable actlvltles 2026 2024 Direct costs of supP￿tIng young people with cancer Staff c051s Support mst reehaoe 728,349 584,311 160.594 736,099 579,040 209.800 1.473.254 1,524,939 Unrestricted fvnds ReslrKled funds 1,283,277 189.977 1.352.435 172.504 1,473,254 1,524,939 25- ELLEN MACARTHUR CANCER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 Support costs 2025 2024 Basls of allocation Dewecialion Insurance Renl and property osts Administratson and stationery Database and communications T8lephone. IT and computer costs ACCO￿￿¢ng Advisory service8 Bank and eard charges oth8r support costs 14,192 6.947 62.748 9,922 20,165 ,200 10,291 18,189 5,824 9.179 20.148 Resol￿5 expended 4,721 Resour￿ expended 56.505 Office space 13.066 Resources expended 33.688 50=50 shar8d cost 59.000 Resources expended 9.233 Resources expended 48,688 Resources expended 5.305 Resources expended 21,499 RescwJrces expended 212,657 271,853 Anaty5ed btheen Fundraising Charitsble aGlivities 52,063 160,594 62,053 209,800 212.657 271,853 10 Oth•r 2025 2024 Govémancè costs Trustee liability Iri8UTance Auditors remunerali 1,352 13,250 1,513 13,250 14.602 14,763 Other costs are incurred in meeting the g¢)vemarKe oflhe tharitable eompany. Auditorfs remuneration in relation to audÉt $6rviees was £13.250 12024 - £13.250) for the year and £7.155 12024- £6.425) for r￿n audit Servi￿ {Payroll. Systems. Consulting. Advisory and Accounts). 11 Galns and 105ses on Investments Unrestrlcted Endowment funds funds 2025 2025 Total Unr•strict•d Endowmont funds fund$ 2024 2024 Total 2025 2024 N&t gains on investments 40.664 7,927 48.591 102.563 31.343 133,906 -26- ELLEN MACARTHUR CANCER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 12 Trustees None of the Trustees (or ary Per$¢y￿ conne¢ted wfh them) received any remuneration or benefits fr¢Jn the charitabl8 company during the year12024 - Nill. There were no expenses (2024 - Nil} reimbursed to Trustees during the year. Trustees. indemntty insuranee is paid by the Charity al a eosl of £1,352 (2024- £1.513). During the year donations from 6 (2024- 6) TrLislees totAlled £7,560 {2024- £3.646). Figures disdosed as donations r8present pure vo]untary amounts only. Any transactions at normal commerciaI rate5 available lo the general public have not been ineluded. 13 Employees The average monthly Nmber of eM￿Dy￿ during the yearwas as below. 202S Number 2024 Number Full lime Parttime 18 21 Total 22 24 Employment C08ts 2026 2024 Wages and salaries Social Se￿rity Costs Other pension costs SubC￿traCtor costs 757.913 66.742 45,607 13.785 766.898 62.838 41,842 20.430 884,047 892.008 The total costs attributable lo the slx (2024 five) Sensor Management Personnel posts amounted to £359.361 12024 £319,568) Senior Management Personnel consists of the Chief Executive Officer. Operations Manager SoLth, Operations Manager North. Fundraising Manager, Communications Manager and Volunteer and Team Development Manager. The Charfty operates a defined contrtbutlon pension scheme and £67,579 (2024 - £62,526) was paid lo the scheme in respect of th8 year. The sum of £13,38012024- £5,582) was owng at th8 y8ar end. The rwmber of ern￿oYeeS whose annual remuneration was more than £60.000 is as follows-. 2025 Number 2024 Number £90,001- £100,000 .27- CE Ac ro fo co Jo ¢X) ¢D Q> r 11 ELLEN MACARTHUR CANCER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 45 Investments Flxed Asset Current Assat Invèstments Investments Total Cost or valuatlon At 1 De￿mber 2024 Valuation changes Movement in cash av8ilable for investment Disposals 729.324 7,927 (1491 (4771 693.178 57,730 916 (102.9201 1.422.502 65,657 767 (103,3971 AI 30 November 2025 736.625 648.904 1.385.529 Carrying amount At 30 November 2025 736.825 848.904 1.385.529 2026 2024 Investments at fair value comprise: Global Equities MLdli Asset Funds Cash available for investment 515.950 865,948 3,631 518.700 900.939 2,863 1,385,529 1,422,502 16 Flnanclal Instruments 2025 2024 Carrylng amount of flnanclal assets Instruments measured al fair value through profit or loss 2,409,741 1,942,772 Carrylng amount of flnanclal Ilabllltl8s Measured at amortised cost 176,515 125,301 17 D8btor8 2026 2024 Amounts falllng dug wlthln ono yoar: Grants and donations reeeivablé Gift aid debtor Other debtors Prepaymenis and acuued income 288.037 3,126 7.796 161.090 203.200 5.367 8,136 136,215 460.049 352,918 -29- ELLEN MACARTHUR CANCER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 18 Credltors: amounts falllng due wlthln one year 2025 2024 Other laxats'on and social sècurity Tradè uedilors Other Cfedilors Acerual$ and deferred i[￿OMe 17.835 107,239 18.289 33.152 15.133 80,083 8,934 21.151 176.515 125.301 Included wthin accruals and deferred income is £6.000 {2024-. £nil) which represents a grant received and deferred until next year. 19 Restrlcled funds The income funds of the charity indude restricted funds comprising th8 fcAlowing un8xpended balar￿S of donations and grants held on trust for specific purposes-. At1 Incomlng Resources oxpgndod Transfers At30 November 2025 December 2024 Southem England Trips Northem England and Scottish Trips Equipment and Capital Expenditure staff Salaries, Training aTrJ Development First Time Trips Other Specific Trfps New Yacht 50,106 149,608) 500 64.522 {37.522) 27,000 14.308 (14.308) 15,935 2,315 18.000 51,712 30.245 373.796 {20.335) {37.981) (30.245) 13,600 16.C66 373.796 18,250 602,689 1189,977) 430,962 -30- ELLEN MACARTHUR CANCER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 19 Restrlcted funds (Contlnugdl Prevlous year.. At1 December 2023 Incomlng resources Resource5 expended Transfers At30 Novernber 2024 Southem England Trips Northern England and Scoth'sh Trips Equipment and Cathl Expenditure Staff Salaries, Trainlng and Development First Time Trips other Speryfic Trips Kalooki .587 (36.58n 58.275 158,275} 400 11.870 {12.270) 1,870 33.000 39,288 9,464 255.769 {18.935) {36,973) 19,464} 15,935 2.315 (255.789) 2.270 444.253 1172.5041 (255.769) 18.250 Soulhem England Trips- Trips being njn fr(Th our Cowes bose. Northern England and Scottish Trips - Trips being run from our Largs bas8. Equipment and capitsl expenditure To supply equipment and capital expenditure to aid the charitable objective5. Staff Salaries, Training Development- Monies towards the cost of staff salarie5. training and development of staff membèrs. Core Charrty Costs- Central costs forthe charity. First Time Trips (and Voyages}- Reflects donated funds toward8 spectfically first lime actiwties. Olher Specific Trips - Relle¢ls donated fvnds towards olher activities induding siblings. canal and waterpark trips. N8w Yacht- Donation received for the purthase of a new yacht, whith be delivered in 2026. Kalooki - Donation receNed for the purchase of Kal00￿. a new yacht. Transfers from restsicted funds to unrestricted ￿ndS in 2024 Telate to the purchase of Kalooki. 31 ELLEN MACARTHUR CANCER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 20 Unr8strlctèd funds The unrestricted funds ofthe charity comprise the unexpended balances of donations and grants which are not subject to specific condtiions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted by the trustees for specific purposes. At1 December 2024 Incomlng resources Re50urce5 oxpènded Transfers Galns and losses At30 November 2025 Vessel replacement and maintenan funds Gener￿ funds 100.000 1,723,672 1 lJ),000 1.788.329 1,707,259 {1.706,1991 22,933 40.664 1.823,672 1.707.259 {1,706,199) 22,933 1,888.329 Prevlous year". Atl December 2023 Incomlng resources Resources expended Transfers Galns and lossas At30 November 2024 Vessel replacement and malntenance funds Ger*ral fun¢Js 100.000 177,851 100.000 1.723.672 1.853,056 1,434,147 {1,843,945) 102.563 1.853,056 1.434.147 {1,843.945) 277,851 102,563 1,823,672 In 2024 the Trustges created a sai1Sng vessel replacement and maintenance fvnd to cover lulure replacement and maintenance of the fle81. No translers wer8 made into Ihis fund during the 2025 financial year. 21 Analysls of net assets between funds Unrostrlcted funds 2025 Restrfcted Endowmont funds funds 2025 2025 Totsl 2025 At 30 Novémbèr 2025: Tangible assets Investments Current 8ssetsllliabilities} 585.515 76.085 661.6(Kl 736.625 1.657,691 736,625 1.302.814 354.877 1.888.329 430.962 736.625 3.055.916 ELLEN MACARTHUR CANCER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 21 Analysls of not assets batw8on funds (Contlnued) Unrestrfcted funds 2024 Restrfctsd Endowmènt funds funds 2024 2024 Totsl 2024 At 30 November 2024: Tangible assets Investments Current assetsl{liabilities) 617.561 617.561 729,324 1,224.361 729,324 1.208.111 18.250 1.823.672 18.250 729,324 2,571,246 .33. aj ELLEN MACARTHUR CANCER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 23 Capltal commStments Amounts Contracted for but not provided in the financid ststements.. 2025 2024 Remaining balance for purchase of a new yacht 304,339 The capital commitment wil bo fund8d from r85tricled fi1￿ls. Rèlated party tran$actlons Other than Ttuslee matters disGlo$ed in note 12, there were no further disclosable related paty Iransactlons during the year (2024- £Nil). 26 Operatlng lease commltmtrnts Lessee Al the reporting end dale, the charitable company had outstanding commibnents for futu￿ minimum lease payments und6r non-caneellablè operating lease$, which fall due as fd10y￿.. 2025 2024 Within one year Belween tsvo and fivè ￿r$ 40.168 82.538 24.434 122,706 24.434 26 Analysls of changès in nèt funds Tho charitable company had no malerfal debt dwlng the ye8r. ELLEN MACARTHUR CANCER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2025 27 Cash genaratsd froml{absorbad byl op•ratlons 2025 2024 Surplus the year 484.670 17.333 AilJustm8nts for: Investment income recognised in statement of financial adiwties Gain on disposal of investments Depreciation and impairnient of tangible fixed assets {52.178) {46.545) 46.874 (40.365) {128,871) 34.705 Movements In WOFklng capltal- {Increaseyde¢rease in debtors Increa8el(decrease} in creditors 1107.131) 51,214 32.285 114,7041 Cash genernted froml(absorbed by) operatlons 376.904 199.61n ELLEN MACARTHUR CANCER TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trusteès Ms C Amaladoss Mr P Cazalet Ms M Cutuer Ms E L Francis Ms J Grindley DrD Hobin Dame E P MacArthur DBE Mr M Pluves MsJMRoss Mr M A Stevens Secretary Mr M A Stevens Sgnlor management Mr F Fletcher Chief executrie officer Charity number (England and Wales) 1096491 Charity number (Scotland) SC044013 Company number 04597114 Reglstèrèd offic& Units 53-57 East Cowes Marina Off Britannia Way East Cowes Isle of Wght P032 6DG Audltor Moore (South) LLP City Gales 2- 4 Soulhgale Ghichester Wesl Sussex P019 8DJ Bankers Lloyds Bank PIC 30 CommeFGial Road Totton Southampton S040 3TH Sollcltors Payne Hicks Beath 10 New Squar8 Lincoln's Inn London VK2A 3QG -37-