THE HOWARD FOUNDATION
REPORT AND ACCOUNTS
YEAR ENDED 31 DECEMBER 2023

THE HOWARD FOUNDATION
Charity Registration Number.. 1009144
Head Office- 93 Regent Street, Cambridge, C82 IAW
Banker5'. Bank of Scotland, 600 Gorgie Road, Edinburgh, EHII 3XP
Independent Examiner:
The trustees present their report and the accounts for the Charity for the year ended
31 December 2023.
l. Objectives
The Trustees, statement of objectives is as follows..
'The Howard Foundation gives financial aid to a number of local, national and
international organisation5. The trustees adopt a gospel-centred approach supporting
evangelistic outreach, health and educational work.
2. Organisation:
The Charity was formed by a Declaration of Trust made on 22 January 1992.
The Trustees passed a resolution on 9 July 2024 adopting a new Deed of Amendment
and Restatement which was approved by the Charity Commission on 31 July 2024.
3. Review of Activity during the year.
The trustees are grateful for donations of £125,000 received in the year. Several grants
were made as listed in the accounts.
The Foundation owns 5,597 Ordinary shares and 167,910 Preference shares in Howard
Investment Company Ltd. It also owns 133 ordinary shares and 1,330 'A' redeemable
preference shares in Howard Ventures Ltd.
4. Investment and Reserves Policy
In view of the fact that applications for grants could be received at any time, the
Trustee5 maintained their policy of leaving any monies that it held on deposit at the
Foundation's bankers.
All funds are unrestricted and the Trustees have no designated funds.
5. The Trustees during the period under review were:
G.E.O. Howard
C.L.E.M. Bewes
S. Midgley
C.C.R. Bewes
ON BEHALF OF THE TRUSTEE5:
G.E.O HOWARD

(HARITY COMMISSION I Independent examiner's report on the
FOR ENGLAND AND WALES
accounts
Report to the trustees
The Howafd Foundation
On ac¢ounts for the year 31 December 2023
ended
Charity no 1009144
lif any)
Set out on pages
4-9
I report to the trustees Dn rny examination of the accounts of the above
Gharity {'Ihe Trust") for the year ended 31 Decèmber 2023.
Responsibilities and As the charity's trustees, you are responsible for the preparation of the
basis of report accounts In accordance wilh Ihe requiTemerrts of the Chanties Act 2011
I the Act")
I report in respect of my examination of the Trust's accounts carried oul
undei seGlion 145 of the 2011 Act and, in carrying out my examination, I
have followed all the applicable Directions given by the Charity Commission
under section 14515){b) of the Ad.
Independent I have completed my examination. I confirm that no material matters have
examiner's $Litèment come to my attention In connection with the examination which gives me
cause to believe that in, any material respect..
the accounting records were not kept in accordan￿ with section 130
oflhe Charrt￿5 AGt, or
the accounts did nol aGcord with the acccunling records. or
Ihe accounts did nol comply with the applicable requireMeftl*
concerning the form and content of accounts set out in the Charities
(Accounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and fair, view which is not a matter
nSIder￿ as part of an Independent examination.
I have no concems and have come across no othw matter5 in connecti¢
with the examInat￿n to which attention should be drawn in this report in
order to enable a proper understanding of the accounts to be reached
Signed
Date ., 1 October 2024
Name . KA Haddow
Rolevant professional
qualification
FCA
AddFe88
24 Mingle Lane
Stapleford
Cambs

The Howard Foundation - Charity No. 1009144
Annual accounts for the year Ènded 31 Decernber 2023
Stattrrnent tsf ftnancial activities
RestriGted
income
fund8
Unrestrieted
funds
Endowm8nt Total thls
fund$
year
D08criptions by natural category
Notes
Total last year
Incomlng resources
Donations,18gacie$ and Grants
Oividends Received
Interest R&cÈived
F01
125.000
13.993
588
139,581
F02
F03
125.000
13.993
588
139,581
125.000
15.000
26
140,026
Total Incorning resources
Resources oxp8nd&d
Donations and Grants
Legal and professional fe8s
160.627
3.191
163.818
24,2371
124,2371
626.833
160,627
3,191
163,818
124.2371
124.2371
626.833
118,878
4,148
123,026
17,000
Total r8source$ expended
Net {outyoingyin¢oming r&sources
Netmovementin funds
17.000
609,833
Total funds brought fo￿ard
Total funds carrled fonyard
602.596
602,596
626.833
The Howard Foundation
Charity Number .' 1009144

Balance sheet
Note
Total this year
Total last year
Fixed assets
Investments
536,802
536,802
536,802
536,802
Total fixed assets
Current assets
Cash at bank and in hand
65,794
65,794
90,031
90,031
Total current assets
Net current assets
65,794
90,031
Total assets less current liabilities
Net assets
602,596
602,596
626,833
626.833
Funds of the Charity
Total unrestricted funds
602,596
626,833
Total funds
602,596
626,833
Slgned by G.E.O Howard on behalf of all the trustees
Signature
Date of approval
The Howard Foundation
Charity Number .' 1009144

Notes to the accounts
Note 1
Basis of preparation
1.1 Basis of accounting
The accounts {financial statements) have been prepared under the historical cost convention with
items recognised at cost or transaction value unless otherwise slated in the relevant notels} to
these accounts. The financi81 statements have been prepared in accordance with Ihe second
edition of the Charities Statement of Recommended Practice issued in October 201 g, the Financial
Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the
Charities Act 2011.
The trustees consider that there are no material uncertanties about the Trust's ability to continue as a going
concern.
The Howard Foundation
Charity Number - 1009144

Notes to the accounts
Note 2
Accounting policies
INCOMING RESOURCES
Recognition of incoming
rèsources
These are inclLtded in the Statement of Financial Activities ISOFAI when-
the charity becomes entitled to the resources.,
the trustees are virtually eertain they will receive the resoLJr¢es,' and
the monetary value can be measured with sufficient reliability.
Where incoming resources have related expenditure las with fundraising or contract income)
the incoming resources and related expenditure are reported gross in the SOFA.
Grants and donations are only included in the SOFA when the Charity has unconditional
entiuemenl lo the resources.
Incoming resources with
related expenditure
Grants and donations
Tax reclaims on donations
and gifts
Contractual income and
performance related grants
Incoming resources from lax reclaims are included in the SOFA al the same time as the gift to
which they relate.
This is only included in the SOFA once the related goods or services have been delivered.
Gifts in kind
Gifts in kind 8re accounted for at a reasonable estimate of their value lo the charity or the
amount actLJally realised.
Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or
distributed by the charity.
Gifts in kind for use by the charity are included in the SOFA as incoming resources wh6n
reeeivable.
These are only included in incoming resources Iwilh an equivalent amount in resources
expended) where the benefit to the charity is reasonably quantifiable, measurable and
malerial. The value placed on these resources is the estimated value to the charity of the
service or facility received.
The value of any voluntary help received is not included in the accounts bul is described in the
Iru5tees' annual report.
Donated services and
facilities
Volunteer help
Investment Income
This is included in the accounts when receivable.
Investment gains and los$o$ This includes any gain or loss on the sale of investments and any gain or loss r8sulting from
revaluing investments lo market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liabllity recognltlon
Liabilities are recoonised as soon as there is a legal or constructive obligation committing the
charity lo pay out resources.
Where the charity gives a grant wlh conditions for ils payment being a specific level of service
or output to be provided, such grants are only recognised in the SOFA once the recipient of the
g¥anl has provided the specified service or oulpul.
These are only recognised in the accounts when a commitment has been made and there are
no conditions to be met relating to the grant which remain in the control of the charity.
Grants wlth perfomian¢e
conditions
Grants payable without
performance conditions
ASSETS
Tangible fixed assets for use These are capitalised if they can be used for more than one year, and cost al least £500.
by charity
They are valued 8t cost or a reasonable value on receipt.
Investments
Investments quoted on a recognised stock exchange are valued al market value al the year
end. Other investment assets are included al trustees, best estimate of market value.
Stocks and work in progress These are valued al the lower of cost or market value.
The Howard Foundation
Charity Number .' 1009144

Notes to the accounts
Note 3
Grantmaklng
Grants to
institutions
Grants to
individuals This Year Last Year
Purpose for which grants made
Support of evangelistic outreach, health and educational work
160,627
160,627
118,878
Total
160,627
160.627
118,878
Grants made
Total
amount of
grants paid £
Narnes of institutions
Arbury Road 8aptist Church
Azalea
Barnwell Baptist Church
BCUK
Bron & Colin Cleaver
CCHP (Sophie Young)
Cambridge & District Youth for Christ
Chrlstianity Explored
Cornerstone Church Crgwe
Festim & Elisabeta Hoxhaj
Friends International (Josh Bell)
George Whitfield College (Thapelo Khumalol
GgnR8
Grace Church Porthcawl
Home for Good
Hope into Action
IFES
IPC UK Izac Leach)
Japan Christian Link IPhilip Glass)
JBC
Jesus Lane Trust
Just Love
Kick London
Living Keys
Mission Macedonia
Oak Hill
Ridley Hall
Romsey MS11
Souster Youth Trust
St Andrew's Kendray
St George's Church Chesterton
St Matthew's Church Cambridge
St Neots Evangelical Church
St Paul's Harringay (Ben Robinsonl
St Peter'$ Fulham (Becca Taylor}
St Peter's Fulham {Chloe Yeadonl
Terrington St Clement
Transformations Leeds
Trinity Church Central London
Trinity Church Salisbury
Youthscape
Totsl
rants lo institutions
2,000
2,000
6,000
4,000
1,500
5,000
7,752
3,000
2,500
4,500
4,500
3,000
4.000
1,000
5,000
2,300
1,000
4,000
2,500
1,000
6,000
3,750
1.000
4.700
3,000
10,000
1,500
4,000
2.500
8.000
875
3,000
2.500
3,000
3,750
750
3,500
11,000
9,500
8,000
3,750
160,627
The Howard Foundation
Charity Number '. 1009144

Nc>tes to the accounts
Note 4
Investment assets
Flxed a$$ets Investments
This year
Last year
Carrying value al beginning of year
Addlldeductl- nel gainlllossl on revaluation
Carry'ng value al end of year
536,802
536,802
536,802
536,802
Analysis of investments
Value at year
end
Value at year
end
Securities not listod on a reco9nlsod Stock Exchang
536,802
536,802
Total
536,802
536,802
Material investment holdings
Value at year
end
Value at year
end
Investm&nt held
5.597 Ordinary Shares in Howard Investment Company Limited
167.910 Preference Shares in Howard Investment Company Limited
133 £1 Ordinary Shares in Howard Ventur&s Limited
1330 £1 A Redeemable Preference Shares in Howard Ventures Limited
Total
365,812
167,910
2,015
1,064
536,802
365.812
167.910
2,015
1,064
536,802
The Howard Foundation
Charity Number .' 1009144