LORD HAPISOF4 FOUNDATIO]Y ANIAL REPORT AND FINANCIAL STATEMENTS For the year ended 5 April 2024 Registered Charity No." 1077014
Lord Hanson Foundation Page Rep)rt of the IndeFndent Examiner Statement of finallcial athivitie8 Notes forn]ing of the fuw)cial slatements 9-12
Lord Hanson Foundation RegIsed ChaTity No: 1077014 TRUSTEES lThe Hon Robert Hanson Alau Hagdrup E R Charles l£wis INDEPEIYDENT EXAMINER Fiona B Hopc FCA CTA Furnace House Mohopc l.lexham Northumberland NE47 8DQ BANKERS Lloyds Bank I02a Brompton Road Knightsbridge tnndon SW3 IJJ INVKSTMlt NT MANAGERS JMFinn 22124 Queen Square Bristol BSI 4ND REGISTERED ADDRESS 31 Wiltoii Row IA)ndon SWIX 7NS
Lord Hanson Foundation TRUSTEES, ANNUAL REPORT The Tn]stees present their report and financial stalcmcnts for the ycar ended 5 April 2024. Principal objeetives and activRti¢s for the publi¢ benefrt The primary ststed pu[Se is set out in a Trnst Deed and is 0 appfv the income, and all or such part or parts of the capital, at such time or times and in such manner to or for the benefits of such cxclusivcly charitsble objeLts and putposes in any part of the world as the Trustees may in their discretion think fit" These purFKpses were met in the current year by the nIng of grants and donations totslling £51,500. The Trustees Confrn that they have referred to the guidance conlained in the Charity Conllnission's general guidance on public benefit when reviciling the charity's aims and objectives and in planning firture activilies and making decisions on the awards of grants and donations during the year. Achievements and performance The TnLStets' aims are to make a difftrence where they can a[ this bas Ixen a successfid year. The organisations the Foundation has helped during this financial year infonn that our donations are valuable contributions to their ongoing survival and in particular the small charities who are fillding it increasingly difficult to raise funds. Finan¢ial Revitw During the year. thc Trustees continued their investrnent policy of holding interest bearing funds and equities. The Trustees Lx)nsidered a number of ehaTitablc projects during the year and made 18 grants or donations to various bodies totalling £50,(M)0 (2023 - 17 donations totalling £36,500). Detsils. of the receiving bodies are given in note 3(a) to the accounts. The Trustees have undertaken to fund the David Skeggs Lecture at thc Royal College of Rath'ologists for the next three years al an annual cost of £1,5. The full cost of thi8 undertaking V'as accrued in previo years. The totsl dunations made in the CUTrent year were therefore £50.000 &8 8howm in not¢ J{a) plus £1.500 to the David SkeR%s t£cture. The net income for the year prior to revaluation of investments was £8,84? (2023 £12.497). Following the net unrealised investment profit of £13,376 (2023 -105s £109,980), net movement in fimds tor the year amounted to an excess of £22218 (2023 - deficit £97,483). Net assets at 5 April 2024 stood at £J,530,693 (2023 _ £1,508:475)
Lord Hanson Foundation TRUSTEES, ANNUAL REPORT Reserves polley The unrestricted fund represents fuDds arising from pst events that may be expended on any of the charitv's obje£ts. I'he Trustees, policy has been to mainlain sufficient untestricted funds to enable the charity to fimd its expenditure oul of current income. Risk management The TrgteeS have &8sessed the major risks io lch the charity is exposcd. in particular those relat to the operations and finances of the charity. and are satisfied that systems are in place to mitigate such exp)sure. Structur4 governaDce and mAnagement The Lord E lanson Foundation w&8 established by I'rust Deed dated 14 May 1999 aDd ffgisteTed on 12 August 1999. The Trustees during the vear listed on pagc 3. Ncw Ttr<s are appointcd followi1 au approach to suitsbly qudified individuals. There are no fornjal induction or training procedures for new Trustees. Referettee and administration detai18 Details of the charity s name, its rcgistered number in Englan(t address of its principal office and names of Trustees of the charity who served during the year and up until this rert was approved re Provided on pagc 3. For and on behalf of the EK)ard of Trustees: i( Alan Hagdrup 27 January 2025
Lord Hanson Foundation tNDEPENDFFll' EXAMtNER'S REPORT TO THE TRUSTEES OF I'HE LORD HANSON FOUNJ)AT]ON I report on the accounts of the charity for the year ended 5 April 2024 which are set out on pages I to 12. Respective respon8ibilitif8 of TntsteeB and Examiner The clwity's trustees are spOnSible for the pwaration of the acLX)unts. I'k charity's trustees consider that an audit is not required for this ycar undcr Section 144 of the Charitie5 Act 2011 {"tbe Charities Act") and that an indq)endent examinatson is n¢¢d It is my responsibility to (l) examine the accounts under Section 145 of the Charities Act. (2) to follow the procedures laid down in the genernl DirectioTh8 given to the Charity Commission under Section 145(5Xb) of the Clwities Act: and (3) to state whether CUlar matters have come to my attcnlion. Basis of independent examiner's report My examination was carried out in accordance with the general Directions gtven by the Charity Commission. An examination iludeS a review of the accounting records kept by the charity and a companson ot" the accounts presentrd with those records. It also includes consideration of any unusual itcms or diloSUreS in the xwunts, and seeking explanations from you a8 trustees eoncerning any such matters. The proccdwes undcTtsken do not provide all the evidence that would be required in an audil and conwuentlv no opinion is given as to whether the accounts present a and fair view- and the rert is limited to those matters set out in the statement below. Independent exwniner's slatement In connection with my examination no nydterial matters have come to my attention which gives me cause to believe that, any material rw: the accounring records were not kept ia accordan(x with scction 130 of the Cknities Act, or the accounts did not accord with the accounting rccords, or the accounts did not comply with the applicable requirements concerning the forn and content of accounts set out in the Chatilies (Accounts and Reports) Regulations 2008 other than any Tequircmenl that the accounts give a kne and fair,: vievi which is not a ntter considered as part of an independent examinatson I have come across no other matters in connection witb the examin]00 to which attention should be drawn in order to enable a propcr understanding of th¢ accounts to be Ched. Fiona B Hope FCA CTA Furnace House. Mohope HCxb NonhumbCrl]d NFA7 27 January 2025
Lord Hanson Foundation STATEMENT OF FINANCIAL ACTIVITtES FOR THE YEAR ENDF.D 5 APRIL 2024 UNRESTRICTED 2024 2023 Ineome Investment income 59,642 49,797 Total 59,64? 49,797 Expenditure Raising funds Charitable activities Other Note 3 Note 3 Note 4 300 50.(K)O 500 300 36,500 500 Total 50,800 37,300 Net lDcome 8,842 12,497 Gainl(kns) on revaluation of inv¢stm¢nts Note 5 13.376 (109.980) Net movement in funds 22.218 (97.483) Balance at April 5. 2023 1.508,475 1.605 958 Balance gt Apiil 5, 2024 1.530,693 1508,475
Lord Hanson Foundation BALANCE SHEET AT 5 APRIL 2024 2024 2023 Fixed aJ¥ets Investment porttolio Noie 5 1,469.328 1,455,952 Current asjets Cash at Bank and in band 66,365 59,023 66J65 59,023 Creditors: amounts falling due within oll¢ ycar Noi¢ 6 (2.0(K)) (2.000) Net eurr¢nt Sets 64,365 57,023 Totsl assets less current liabilities 1533.693 1,512,975 Credilors: amounts falling du¢ after more than one y¢aT Note 7 (3.000) (4.500) Total assets la8 liabiliti 1,530.693 1.508,475 Trusl Fund UnstrIcted fut 1530,693 1,508,475 Total funds 1.530.693 1,508,475 The financial statements were approvcd and authorised for issue by the Board of Trustees and were siglled on their behalf by Alan Hagdrup Trustee 27 January 2025
Lord Hanson Foundation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 l Basis of preparntion Bowls off accounling These financial slaternents have been prepared under the historical cost convention with items rewgnised cost OT tTansaction Yallle unless otherwise stated in the relevant notes to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and RertThg by Cbarities preparing their accountg in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 Juty 2014 and with the Charities Act 2011. 2 Accounting policies Investmenls tnvestments are valued initiall> at cost and subsequently at fair value {th¢ir market value) at the year end. Realised gains OT 105ses on investments are recognised on disposal of invcstsnents and any gain or Ioss oll T¢valuation is tsken to the SotFA. The detennination of any gains and lo&ses is calculated by reference to the value of such &ssets at thc b¢ginning ot the accounting Ftriod. Income Inveslmcnt income is derived from dividends and interest receivable from investments and is accounted for in the perkixl in which the charity is entitled to receipL it is more likely than not that the trustees will receivc the income and the monetary value can be measured with sufficient reliabi]ily. (Wsetting There has t*en offsating of &8sets and liabilities. or income and expenditure. Expendilure All expenditure is included on an a¢¢nls h&8i.8 and is re£ognised when there is a legal or constructive obligation committing the Trustee8 to the expenditure and the amount of obligatiOD can bc measumj with reasonable ¢einty. Siatus offvnd These financial statements include all the funds governed by the tern)s of the principal Trust Deed daled 14 May 1999. Thc charrtv h&8 onc unrestricted fund which the Tn]stees are free to use for any purtx)se in furtherance of the chaTitable objectives. Toralion The charity is not registered for VAT and therefore all expen8 include VAT where applicablc.
Lord Hanson Foundation NOIES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 3 ReJource8 Expended 3 (a) Clwitable xtivities During the year the Foundation made th¢ following donations: 2024 2023 10.(NJ) 1s(x) 1,0 10,000 Race Against Dementia Kalbarine House Hospice SERVE Derby Toc H Cbildren's Camp 2.51J) 2.000 2,51KI Ix) 2,000 SJTrthonia Scout Group St John of Jenwlem Eye Hoq)ital I111ShIre Sight Children's Trust Tadworth Marie Curi¢ Thc Childrcn's Ho4)ital The Norfolk Hospice 500 1.5(K) I,)0 15(K) 5J 1.500 2,000 500 500 TendTing Eldere YMCA FA8t Swrey Berkshlle Vision 1,5(K) 50.0(XI 36,5(K) In addition to the above donations. the Found&ion also ld donations of £1.500 to the Royal College of R*Jiologi3ts in Ixith the cuzrent and preceding ycaTS. This amount was fully accrued in previous years. The Royal College of Raliolvgists. This aDiounl was fully accrued in previous yeat 3 (b) Raising fimds 2024 2023 Investment management costs 300 300 10
Lord Hanson Foundation NOTES TO THE FINANCtAL STATEMENTS FOR THE YEAR ENDED i APRIL 2024 4 Other costs 2024 2023 Independent cxamin¢¢s costs 500 500 5 Fixed Asset Inv¢ythients Quoted Investment.Y 2024 Markcl valu¢ at 6 April 2023 Unrealised gainl(loss) on rei'aluation Market value at 5 Apnl 2024 1.455.952 13.376 1,565,932 (109,980) 1,469,328 1,455,952 6 Creditors: amounts fallin8 due within one year 2024 202? A¢¢nlS Othcr creditors - donations (see below) 5(M) 1.51)0 500 1.500 2,000 2,000 7 Creditors: amowits falling due after more than one year 2024 2023 Other creditors - dOnlonS (see below) 3,000 4.500 3.OlJ) 4,500 The liability for donations comprises a commitment to fund a lecture at The Royal College of Radiologists tbe next three years al dn aDnual cost of £1,500. 8 Falr vxlue of assets and tiAbilitses The charity is not eXSed to credit risk as it has no debtors. Likewise it is n(rt expnsed to liquidity risk as it h&s sufficient cash 8v2i12ble to meet its short term financiol demen(L8. 11
Lord Hanson FoundatioD NOTES TO THE FANCIAL STA'fEMENI8 FOR THE YEARENDED 5 APRIL 2024 The cl]arity is exposed to market risk as the majority of its assets are in quoted investments. However its &8sets are so much more than its commilments that even a 500/0 fall in the vajue of the investments will have no short tern) impact on its abilily ts) continue. 9 Transaction8 with related parties There have been no related party transactions in the rerx)rtiDg Ftriod. 12