PETER HARRISON FOUNDATION Report and Consolidated Financial Statements Year Ended 31 May 2024 PETER HARRISON FOUNDATION Annual report and consolidated financial statements for the year ended 31 May 2024 Content5 Page: Report of the trustees Rcport of the indepcndcnt auditors Consolidatcd Statcmcnt of Trinancial Activilics Consolidated Balance Sheet 13 Balance Sheet 14 Consolidated Statement of Cash Flows 15 Notes forniing part of ihe financial slalements Trustees J C Harrison-Lcc LL.B P J (J Lcc DL LL.B N P Ha￿lson Director S J Ridlcy Principal office Second Floor, Foundation House, 42-48 London Road, Reigate, Surrcy, RH2 9QQ Bankers Coutts & Co. 440 Strand, London ￿c2R OQS Bank of Scotland, The Mound. Edinburgh EHI IYZ Sanlander UK pl¢. 100 Ludgate Hill. London EC4M 7RE Auditor Moore Kingston Sn]ith LLP, Betchworth House. 57-65 Station Road, Redhill. Surrey. RH I IDL Solicitors Withcrs. 16 Old Bailey, London. EC4M 7F.G Charity registration llu￿ber 1076579 PETER HARRISON FOUNDATIO Report ol the trustees for the year ended 31 May 2024 The Tru5tecs of the Peter Hanison Foundation present thcir report togcther with the consolidated financial statcments for thc ycar endcd 31 May 2024. l. Structure. governance and management The Peter Harrison Foundation is an indepcndcDt graTLt-making ttusl that supports registered chdritlC5 and Cotnmunity Aindt¢ur Sports Clubs (CASCs) in the Unitcd Kingdum. ThL Truiindation was e.%t&ibli8hcd b). trust dccd on 29 April 1999 wilh dn original gifi of £1,000 Ihc initial LndowmLnt ￿nd_ A d()nation trom the foundcr of £_314().401 was crcdited 10 unrcstricied incon)c lunds" in tlic financial pcnod to 31 May 2000. uiingF thc ycai tr> I l Mdy 20ni, the Fuundation gifted £311.000,(M)O of loan noles on l Q ()ctober 2000 by th¢ Pcter Harrison K(yCN LBE family scttlements. Th¢ T￿￿teeS cncashed the loan on 15 April 2001 . During the ycar tv 31 Maj 200? d fiirther endowment of £fi90.417 was gifted by the Peter Hdrrison KGCN CBE fainily settleiiienls, whiLli hab been cr¢dited io th¢ expendable endowment fund_ On 9 Martyh 2011 a furthcr £15,(MIO,000 was gifted by thc P¢ter Harri50n A Settlement Discretionary Fund. Th¢sc ¥ifts have been add¢d to the origindl endowinent fuTLd for investment and generalion of inLomc for annual distribution. Th¢ Cndoivment gift fund may be distributed at the Trustees, discretion. but ihe cU￿ent policy is lo maintain thc value of this C&ipitsI while distributing incomc of approximately £1.5 million annually for charitable purposes. The Troundation's wholly Dwned subsidiary company PHF InvcstmcnLS Limitcd holds invcsrmcnt propcrtics and loans for property dcvclopmcnl. Profits madc hy PHF InvcstTMcnts Limiicd are donaicd to the Foundaiion. PHF Inveslnients Limitcd i managcd by Chanccrvgaic Limitcd which also ad￿1￿¢5 On inicstm¢ni acquisitions and disposals. Petcr Lcc, a Tiustcc, is a .%hareholdcr and dircctor of Chancerygate Limitcd. Dct&Als of transactions with Chancerygate Limited arc disclosed in note 1.1 to the tinancial statement5. Thc Trubtees meet four lim¢s a year whcn they revieiv thc operation of th¢ Foundation •iOllS relatlng to going concern In auditing the financial statemcnts, we have concluded that the trustecb. use of the goiiig concern babis of accounting in the preparation of the financial 5tal¢ments is appropriate. Ba%ed on the work we have performed, we have not identified any mdterial uncertainties relatiT]g to events or conditions that, individually or collectively, may cast significant doubt on the group and charity's ability to continue as a going concem for a period of at least twelve months fr(Im when the financial slat¢ments are authoris¢d for issue. Our responsibilities and the responsibilities of ihe trustecs with respect to going conccm are describcd in the relevant secliunb of this reporl. Other information The other infonnation comprise4 the informalion inLluded in the dnnual report, other than the financial statements and our auditor's report thereon. The truslces are rcsponsible for the other inforniation containrd within the annual report. OUT opinion on the financial staiement.s does not cover the other inforniation and, except to tbc cxl¢nt otherwisc cxplicidy stated in our report, we do not express any fonn of dS5urance Lunclu%iun thereon. Our responsibility is to read the other inforniaiion and, in doing 50, consider whether the other inforn]ation is matcrially inLunsislcnl with the tinancial stdtements or our knv￿,1edgC obt&ined in Ihc Lourse of ihe audit or othcnvibc appcars to bc materially rni55talcd. If wc idcnlify such matcrial inconsistcnLies or apparent material mi%statemenls, we dre required to delennine ￿.hether there i,s a material misstalement in thc finaiicial statements th¢mselves. If. bas¢d on the work wc haNe perfomied, wc conclude that there is a material misslalement of this other inforn]ation. we are required iu report Ih8L fact. We have nothing to report in this regard. PETER HARRISON FOUNDATION Independent Auditor's Report to the Trustees of the Peter H8rrison Foundation (continued) Matters on which Trve are required to report by exception We have nothing to report in respect of ihc fullowing matters where the Charities Act 201 I requires us to report to you if, in our opinion- the information given in the TrnsÉees' Annual Report is inconsistent in any material respect with the finanLial stdtcmcnt%' or tIIL group dnd chdrity hdb not kept adequaie accounting records= or the financial statements arc not in agreement ivith the accounting records and returns- or we have not received all the information and explanations we required for our iiudit. Re5P0115ibilities of trustees As explained more ￿llY in the trnstCC.4' TC.4pon%ibilities statement set out on page 6, the trustees are responsible for th¢ prcparation of the financial stalements and t.or being satisfied thal they give a Irue and fair iwiew, and for SULh intem