LORD HAPISOF4 FOUNDATIO]Y ANI￿AL 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 RegIs￿ed 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 n￿Ing of grants and donations totslling £51,500. The Trustees Conf￿rn 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 Tr￿gteeS 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 T￿￿tr 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¢¢n￿ls 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 ¢e￿inty. 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 expen￿8 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 I￿111ShIre 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 Elder￿e 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¢¢n￿lS 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 - dOn￿lonS (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 eX￿Sed 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 F￿ANCIAL 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