LORD HANSON FOUIYDATION ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 5 April 2023 Registered Charity No.. 1077014
Lord Hanson Foundation CONTENTS Page Legal and administrative inforniation Report of the Trustees Report of the Independent Examiner Statement of financial activities Balance sheet Notes forniing part of the financial statements 9-12
Lord Hanson Foundation Registered Charity No: 1077014 TRUSTEES The Hon Robert Hanson Alan Hagdrup E R Charles Lewis INDEPENDENT EXAMIIIER Fiona B Hope FCA CTA Furnace House Mohope Hexharn Northumberland NE47 8DQ BANKERS Llojds Bank 102a Brompion Road Knightsbridge London SW3 IJJ INVESTMENT MANAGERS JMFinn 22124 Queen Square Brislol BSI 4ND REGISTERED ADDRESS 31 Wilion Ro London SWIX 7NS
Lord Hanson Foundation TRUSTEES, ANNUAL REPORT The Trustees preseni their retK)rt and financial ststements for the year ended 5 April 2023. Principal objectives and activities for the public benefit The primary stated purpose is set out in a Tnt Deed and is 'to apply the income. and all or such part or parts of the capital. at such time or lime5 and in such manner to or for the benefits of such exclusivelj charitable objects and Purposes in any part of the world as the Trustees may in their discretion think fit" These purwses were met in the current year by the making of grants and donations totslling, £38.000. The Trustees confirni that the). have referr to the guidance conlained in the Charity Commission's general guidance on public benefit when revIeing the charity's aims and objectives aE]d in planning future activities and making decisions on the awards of grants and donations during the year. Achievements and performance The Trustees. aims are to make a difference where they can and this has been a successful year. The organisations the Foundation has helped during this financial y¢ar inform u5 that our donations are valuable contributions lo their ongoing survival and in particular the small charities who are finding it inCreing1), difficult to raise fimds. Financial Revie During the year. the Trustees continued their investment pK)licy of holding interest bearing fidS and equilies. The Trustees considered a number of charitable projects during the year and made 17 grants OT donations to various bodies totalling £36.500 (2022 - 19 donation5 totalling £39,500). Detai15 of the receiving bodies are given in note 3(a) to the acwunts. The Trustees have undertaken to fimd the David Skeggs Lecture ai the Royal College of Radiologists for th¢ next four years at an annual Cost of £1,500. The full cost ol this undertsking w&8 accrued in previo8 vears. The total donations made in the current year We therefore £36.500 as shown in note 3(a) plus £1,500 to the David Skeg2s Lecture. The net income for thc ycar prior to revaluation of investments was £12,497 {2022 - £1,942}. Following the net unrealised investment loss of £109.980 (2022 - £15.882}, net movement in funds for the year amounted to a deficit of £97.483 (2022 - £13.940). Net assets at 5 April 2023 slood at £1,508,475 (2022 - £1.605.958)
Lord Hanson Foundation TRUSTEES, ANNUAL REPORT Reserves policy The unrestricted fund represents funds arising from past events that may be expended on any of the charity's objects. The TnLslees lI1¢Y has been to nIntain sufficient unrestricted funds to enable the charity to fund its expenditure out of ¢UTrent income. Risk management The Trustees have assessed the major risks to which the charkty is expose(L in particular those relaled to the operaiions and finances of the charity, and are satisfied thai systems are in place to miligate such exposure. Strncture. governance and management The Lord Hanson Foundaiion was estsblished by Trust Deed dated 14 May 1999 and registered on 12 Augusi 1999. The Trustees during the year are listed on page 3. New Trustees are appointed following an approach to suktably qualified individuals. There are no fonnal induction or training procedures for new Tnle¢s. RefereD¢e and administration delails Details of the charity s name. its registered number in Englan(L address of its principal office and names of Ttee$ of the Charity who served during the year and up until this report was approved are provided on page 3. For and on behalf of the ard of Tnle¢s. Alan Hagdrnp 26 January 2024
Lord Hanson Foundation tNDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LORD HANSON FOIINDATION I report on the accounts of the charity for the year ended 5 April 2023 which are set out on pages I to 12. Resp¢ctive responsibilities of Trustees and Examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider thal an audil is not required for this year under Section 144 of the Charities Aci 2011 (""the Charities Act") and that an independent examination is needed. It is my responsibility to (l ) examine the accounts under Section 145 of the Charities Act: {2) io follow the procedures laid down in the general Directions given to the Charit), Commission under Se¢tion 145(5Kb} of the Charities Act; and (3) to slate whether particular matters have come io my attention. Basis of ind¢p¢ndent examiner's report My examination was carried out in accordance the general Directions given by the Charity Commission. An examination includes a review, of the accounting records kept by the charily and a comparison of the accounts presenied those records. It a150 includes consideration of any unusual items or disclosures in the accounts. and seeking explanations from you &$ truslees concerning any such matters. The procedures undertaken do not provide all the ei'idence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report 15 limited to th05e matlers set out in the slatement below. Independenl examiner's st2temenl In ¢onne¢tion w'ith m). examinaiion no material maners have come to my attention which gives me cause to believe that. in any material spect. the accounling records were not kept in acconlance with section 130 of th¢ Charlties Act. or the accounts did not accord with the accounting records. or the accounts did not comply wtth the applicable requirements concerning the forni and content of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requiremenl that the accounts giN'e a 'lrue and fair vi¢w which is not a matter consid¢r¢d as part of an independent examination I have come across no other matiers in connection with the examination to which attention should be drawi in order to enable a proper understandiDg of the accounts to be reached. Fiona B Hope FCA CTA Furnace House, Mohope Hexham. Northumberland NE47 8DQ 26 January 2024
Lord Hanson Foundation STATEMENT OF FtNANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023 UNRESTRICTED FUND 2023 2022 Income Investment income 49,797 42.242 Tot81 49.797 42.242 Expenditure Raising funds Charitable activities Note 3 Note 3 Note 4 300 36.500 500 300 39,500 500 Total 37.300 40,300 Net In¢ome 12,497 1,942 Gainl(Loss) on revaluation of investments Note 5 (109.980) (15.882) Net movement in funds (97.483) (13.940) Balance at April 5, 2022 1.605.958 1.619.898 Balance at April 5. 2023 1.508,475 1.605.958
Lord Hanson Foundation BALANCE SHEET AT 5 APRIL 2023 2023 2022 Fixed *ssets Investment wrtfolio Noie 5 1,455,952 1,565.932 Current assets Cash at Bank and in hand 59.023 48,026 59.023 48,026 Creditors." amounls falling due within one year Note 6 (2,0) (2,000) Net current assets 57.023 46.026 Total assets less current liabilities .512.975 1.611,958 Creditors: amounts falling due after more than one year Note 7 (4.5IKI) (6.000) Total assets less liabilities 1.508.475 1,605.958 Trust Fund Unrestricted fund 1,508.475 ,605.958 Totsl funds 1.508.475 1.605.958 The financial ststements were approved and authoris¢d for issue by the Board of Trustees and w¢r¢ sip)ed on their half by Alan Hagdrup Trustee ?6 January 2024
Lord Hanson Foundation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 l Basis of preparation Basis ofaccounling These financial statements have been prepared under the historical cost convention with items cognised at cost OT transaclion value unless otherwise stai¢d in thc rclcN'ant notes to these accounts. The accounts have Eren prepared in accordance with the Statement of Recommended Practice.. Accounting and RetK)rting by Charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and '1th the Charities Act 2011. 2 Accounting policies Inve.s¢ments Investments are valued initially at cost and subsequently at fair value (their market value) at the year end. Realised gains or 105ses on investments are recognised on disposal of investments and an). gain or loss on revaluation is tsken to the SotFA. The detern)ination of any gain5 and losses is calculated by reference to the value of such assets al the beginning of the accounting period. Incopne Investment income i5 derived from dividends and inlerest receivable from investmenis and Is accounted for in the period in which the charity is entitled io receipl. il is more likely than not ihai the trusiees will receive the income and the monetary value can b¢ rnured with sU1¢ient teliability. Off.selling There has been no offsetting of assets and liabilities. or income and expenditure. Expendilure All eXndItUre is included on an accruals b&sis and is r¢¢ognised when there is a legal or constructive obligation committing the Tntsiees to the expenditure and the amount of obligation can be measured with re&wnable certainty. Siatus offyn4ts These financial statements include all the funds governed by the tenns of the principal Trust Deed dated 14 May 1999. The charity has one unrestricted fund which the Trustees are free to use for any purpose in furtherance of the charitable objectives. T(Lration The charity is not registered for VAT and therefore all expenses include VAT where applicable.
Lord Hanson Foundation NOTES TO THE FtNANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 3 Resources Expended 3 (a) Charitable activities During the year the Foundation made the following donations: 2023 2022 Hanson Research Trust Autism Initiatives Reigale Beekeepers Reading Association for the Blind Katharine House Hospice SERVE Derby Toc H Children's Camp Caer0 Synthonia Scout Group St John of Jerusalem Eye Hospital Wiltshire Sight Children's Trust Tadworth Marie Curie The Children's Hospitsj The Norfolk Hospice Outward Bound Tendring Eldercare Church Wardens of Watton Church Mary Hare Foundation 10.000 1.000 1.000 1.000 2.000 1.000 2,000 2,000 500 1.000 1.000 5,000 2.000 5.000 500 5(K) 1.000 i 0,000 1,000 1.000 1.000 2,000 1,000 2,000 2,000 500 1.000 1.000 5.000 2,000 5,000 500 500 1,000 1,000 2,000 36.5 39.500 In addition lo the aknve donation& the Foundation also paid donations of £1,500 to the Royal Colleg¢ of Radiologists in both the current and preceding years. This amount was fully accrued in previous years. The Foundation has committed to pay an annual amount of £1,500 for the nexi four years to The Royal College of Radiologisls. This amounl was fully accrued in prrvious years. 3 (b) Raising funds 2023 2022 Inveslmenl management costs 300 300 10
Lord Hanson Foundation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 4 Other costs 2023 2022 Independent examinerfs costs 500 500 5 Fixed Asset Investments Quo¢ed Inveslmenls 2023 2022 Market value at 6 April 2022 Unrealised(loss)/ gain on revaluation Market vaIue at 5 April 2023 1.565.932 {109,980) 1.581,814 (15.882) 1.455.952 1,565,932 6 Creditors: amounts falling due 7th1n one year 2023 2022 Accruals Other creditors - donations (see lOw) 500 1,500 500 1,500 2.000 2.000 7 Creditors: amounts falling due after more than one year 2023 2022 Other creditors - donations (see below) 4.500 6,000 4,500 6,000 The liability for donations comprises a Commitment to fund a lectUTe at The Royal College of Radiologists for the next four years at an annual cost of £1,500. 8 Fair value of 45s¢ts Ind li4biliti¢s The charity is not exposed to credit risk as li has no debtors. Likewise it is not exposed to liquidity risk as it has sufficient cash available to meet its short tern) financial demands.
Lord Hanson Foundation NOTES TO THE FtNANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 The charity is exposed io market risk &s the majority of its &ssets are in quoied investsnents. However tts assets are so much more than its commitments that ei'en a 500/0 fall in the value of the investments V¥ill have no short temi impact on its ability io continue. 9 Transactions wlth related partie5 There have been no relaled party transactions in the reporting period. 12