Charity numb•r. 1084412 CLORE DUFFIELD FOUNDATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 CLORE DUFFIELD FOUNDATION coKrENTS Page Refernncè and Admknl•trnlfv• D•talkn olth• FO￿￿tIOn. Ind Ad¥l••v• Tru•t•••' R•port Ind•p•nd•nt Audmorn. R•port on th• Fln•n¢W StsLt•m•nts 9-12 Ststsm•nt of Fln•ncl•l ktlvltl 13 Balanc• Sh••t 14 stat•m•nt ol Ca•h Flo 15 Nol•• to th• Fln*ntknl St*l•m•nts 16-35 CLORE DUFFIELD FOUNDATIOM REFERENCE AND At)MINISTRATIVE DETAILS OF THE FOUIIDATION. tTS TRUSTEES AND ADVISERS FOR Th£ YEAR ENDED 31 OECEMBER 2023 TNitees Vmen Louise Duffi8bJ DBE Ms M81atN* Sorth J•n¢ Cl)re r James Paul Hardirwj Mr Dawd T•Tence D￿bY HMJ Mr Richard John Oldfi8kl Mr Jèromy Vaullhan S8ThJBl8on Ch•rlty f•gknt•Y•d numb•r 1064412 prfncIp￿ offl¢• Sbjdio 3 Flood Strwt Lorthn SW3 SSR Chl•l•x•culfv• oftlc•r Kale In*nd•nt •udllorn sa￿ Vinc•nl LLP Chartered Accountsnts 110 G￿den La EC1Y OTG BAnk•r4 C Hoare & Co 37 Fleet Str8èt LoNlon EC4P 400 Soll¢ltov• Moira Protani 72 w(¥)db￿rne A¥Bnu Brwjhlon BNI 8EJ A¢¢ountsnts P8t8rs Ek¥orthy & Moor• S811$t￿ry House station Road Cam C81 2LA Page 1 CLORE DUFFELD FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Tho Trustge$ present thew anrwjal rewt togetlw wilh thg flnarKial slatoments of th• Foundation for th• yeor 1 January 2023 to 31 Dacamber 2023. Rgfvron(x and a¢kninlslratr￿ irrformthn sot oul M pagg 1 lorn￿ part of thro r•port. The finandal slatement# compty with curr8nt statutory requweTnents, the Found•lh)n's twsl deed and the Statement of Recommended Practth.. A¢￿UnbrV4 8nd Repoitry by char￿eS preparing th8lr acwunts in xcordatKe ￿ the Finanual Reporting Standard applIca￿e kn the UK * R8publc ol Ire￿nd {FRS 102) Iseojnd edibon Ocaober 2019- eff￿tive 1 January 2019) and thE Cherrtl•8 Act 2011. Thls loport Cove￿ th• t*•nty third lul ￿ of operatw)n for the Cbro Duffiekl Foundation, ¥&hich was formèd in DecerTthr 2000 from lh8 rnery•r of the Ch)f• Flmmdallon and the Vlvw DLrffield Foundatlon. The Cb)re Foundat￿ was ostatAlshed In Odober 1964 by the181• Sir Char18s Clore. HI$ dwghter. Damtr v￿On Duff￿d. be¢am• chairn￿ of the Fwndation in 1979 and ueated h•r 1987. pdorlU98 of the fom FI)undat￿l remain the wlorilj'es of the Cb)re DulT￿d Ft)ufKlaticffj. OBJECTIVES AND ACTI￿E3 PurpoM• alm• The object of Iht Foundatl¢)n lag set out n th• go¥eming Scheme of 22 Dec8mb8r 2crf))I ￿ to b•n•ffl such chahtlgs and wch ch8nt8bl• puws as lh• Tnoloes may dotsm71ne'. Tho Dir•dor and Tru6ltse8 rew•w grant monitoring r*port$ (submitied by grant roclwentsl at e￿h Trust•e meeting. This alows progr855 to b8 cheeked agaknsl lh8 planned pxtmb.eg Ihe ofv•n￿ apF4icallon and ￿•bI•S th•m to monKor Ihg lewl ol public benefft being xhi•b*J through th8 dwyon. The Tru8te08 have r•f•rrnd to th• guklaN￿ cont4Oned In tho Clwlty C￿nMI￿￿ofi,S g•n•ro1 gubJ•nc• on pubk ntfit wh•n (fr￿n9 the FO￿datIon'S aim$ and obieG*ves •nd in plannry Ns lulure a¢tivilk*S. In partic￿al, ihe Trust•es con8kler h(￿ planned *cb'7•il*s will ¢ontyitArte lo th• abm8 and obAe¢tiw6 thal havè been 8fjL The Tru8teo8 havg rA￿lIdered matter and (￿￿1￿jed'. That tho akn8 of th• Fwrwjalkn wrtinue lo te L**ilable.' Tho1 the aTh3 and Ihe wort done 9iw id￿￿able berb8fits to tl* ¢hwil•bl# and both wKlrectty ￿ dlredty lo IndtrhJualB In ne•J,' That the b•nefft$ o1• for Iha public. and are not rthided #i any way and wt8inPy not by aknlty to poy, That there l# no d6trim•nt or fmm th• ahn8 ¢X xtvltsos. The folk)wing sectkn of Ihis Tepjrt A<*ievefflent8 pIforn￿nC0. Sats out th• Clor? OLrffield Fovndalion'fj objecths and rew18 on th& adNtty WKI $ucc85sos In th• J*ar to 31 D8￿M￿r 2023, a8 vdl As explairmng thè plans for the umnl ffin•n¢ial ￿r. The Found8li¢)n supports UK charflbèts wortin9 li the Wis. 8ducation. soc4al well•re and healih. The FouThJalknn enhancog Jowi8h ¢uttur4 lifg thrivah SUFVOrt for J￿3. the Jewlsh arts and cornm￿1￿ ￿ntra In London.118 wo r•mains rooted li the ¢h8ril8ble ¢omm6tmonts of Slr Charfes Clor• #nd his daughter, Dame Vmen Duffield. 1￿J￿11n￿'. DevoloplThJ prowammes and partnershps to ¢>e•ts for people through art, ￿KUre and heritsgo in th¢ UK. Artist￿ talent shrAld b• nuthted aThJ suprthfjd whereNw it e￿ts and c4reer8 in I cuNvral sector Sho￿ be open lo al. Supportry oxi8tsng Ckxo LeaTh￿9 Sp•¢•s lo •nsure thildren and yO￿g people in parueA￿ar hove Ihe Char￿ to benefft from art. hovw gnd the inswrntion, knThWga, joy and wdlboSng they bring. Ensuriry the imr*xtsnt N9&r￿s￿￿¥ (¥eatgd by the FouThl*on ￿nts"n￿9 to be Strong. impo(thl and r9slllgnt, induding Jm. the Cl(Ye Cdtural Leadership Programme and Eur•ka! Pagg 2 CLORE DUFFIELD FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR EIIDED 31 DECEPABER 2•23 Taking a thoughtful and strategK apwoath lo grnn14Nking w*Jer dwrtable sector. with emphasi5 t)n nwnbkn. frort.lne Ch￿￿165 d8104ffjring ￿￿ge to ¥*tho n8ed IL ACHIEVEMENTS AND PERFORMANCE D*ne Vmen DLrfW. Chaimwh, m¥d• • generous ￿lestr•￿ed donat￿ ofov•r £30 millicm to the F¢)urthtion In re¢xgnittin of the up￿nIng 6Crth annl%wsary of the Cth Foundalknn. The Foundation conb'nued lo fflake and administer grants, with a focus on Clore Le￿119 Spact8 withon CLdtural organtsa11ons and swjport for art$ educalion prograrnm￿. A r•vl•w of 2023 The Foundalk￿ made gr8nts of £5,$09.388 to 50 fjwiiies in 2023. Levels of funding *• hlgh•r than th• pr¢vlou8 y8ar as nv8slm¥rrt perfe4man¢e iryrov88 8ThJ the Foundallw d8th.vws nwl 8lralegic priontles, A of funding pn>grAmm8s for cl￿ L•amh¥ Spa￿1 w•r• SntrothJc•d in 2022. Exiiting Clorg L•oming Sp8CO8 can appty for a small wtal grant to relurtjish or reoqulp thelr $paGe lo bgltgr mgot thg nged8 of users. The FoUndat￿Th v•ll prfothlgo organisat￿9 whose ChJr• L•amM)g Spo¢• ar• ovtr fve ygars old, or, in the cose of more r￿ent Ck)re Leaming Spac*$. those who ¢an dWi0n￿atts that the Nivostmenl will make a 81•p th•nge to their leamlng ￿ •ngapgm•nl offer. EXist￿g Clofe Leaming Spgces can o1$9 apply for a small grant to resp￿￿ to immediate Opportunit￿ aThl chthnges in daliyering their laaming and &ngagwnant programmes. These grants can be used to suppryt interyenlions related lo th6 co81 of ui$i8, for 6xarryle IransF*)rl o)$ts for sthod8 arKI communtty grou￿ o)uld otherwise come or 8xtended progrgmmlng or prov181on for pèople in need. Smo11 lo mi(kJiied arts and herltag8 organisatv￿8 can 8Fwty lor 9rnnl$ of up lo £200.C(Ki to develop Cloro Leamirq Space8. This Irthd￿ both buildlng a new spac• or repurpo￿ng an exlsllng 8pac*. N•w commllm•nts & •p•nlng• A numbar of n8w sp9￿$ fvndgj by the Foundat*)n ¢)pgnod thelr dooTs for the first time in 2022, prowding n•w place8 and pro9ramme8 for p•￿• lo lèam to engage wilh ort. C￿re Ind heritage. op&nings induded the Clor• Studio al the Nath'onal POr1r8￿ Galknry., Clxo LoAmlNJ Centrè at HRP Ke￿sIngtOn PalBc4 And th• Clor• LeomirwJ spa￿ at The Nath'onal Art*ivtis. Funding was wwarded to several Cknv Lwmlw Sp8c8 prole(*s kn 2023, I￿1￿￿Ing the Natronal Gallery, V&A East Storehouse. Paisloy Museum, thg court4￿d arNI Park Museum. A number of Clore Learning Spo￿6 w8rè awarded Fit lor t￿ FthU￿ fuTh*ng to support the r8fixbl8hm8nl of •xi$try sp￿8, indLKling.' Kettbs Y•rd, NatK>nal Galleries Scotland, Naknnal Theatre, Tho Glasshouse. RHS Wisley, lh¢ Wortd Muwm Uvorpool, LSO Sl Lukès. th• Lh)i¢om The8lr•. Yol more r￿tr¥?￿ Supwt throLh3h Ihe Chalwwe and Opportunity fund, $UPFthllng th• dolivory of ￿tt￿oI ￿rn&vd during a cost of IntlrTrg uSsl¥. IrKludty KglUe'8 Yard. th• South London Gallery, PK PorthcLrnQ. G•rfen Mu8•￿ and Watts Galkny. The Foundalw)n agreed rknv fundlng lo a numbef of oth•r ¢harfli•s w￿1￿9 the r￿Id8 ol edU￿tIon, Indudlng.. Wesl London Zone wth Ihe Hammorsmith th• YouThJ Musician's Swnphony ord￿ Turquo169 Mountain, to suppryt th• trainlng of women in tradibonal arts in Afghanistan. N•w Progrnmmm and Prlorltl•g Th• Ark Clor• Duffl•ld CultsK•l L••fnlng PrDgrnnwn•: The Ckxe Duffidd FoLWKlatlon Is $uprM)rtlng a plbt projeca in four Haslings S¢1￿*)19. developing a new approach to arts •￿￿￿th￿. Over the next year, the 8chcol8 will work with W and nath)nal aitists and arts (Mwlsallons to gNe all pupilg the ¢h*¢e to devebp their e•tivty. The progr￿￿Me ￿m$ to ensure th•t every Ch￿ has real access to tho best thg arts, CLllurg and h8ritage séctors have to ohr. thrO￿h tréps. vL86ts arml resmlèrrfies. The pib)I propd is by •du¢81￿n tharity wor￿ng acTOSS I￿[ lour Hastings sthoo15'. Ark AJgxaTrJra A¢xdemy, Ark Blacklands Prfmary Academy, Ark Castledown Primary Ar¥demy aTrJ th Litue Rid9e Primary A¢ad•my. In the longer term the aim 15 10 impact Ark's whol6 01 39 schools. Bttend8d by c30,ocKI puwls. For the Hasb'ngs w'lot. 90 teacher5 will te r•a¢h¢d, irKreasuN to n8arly 50) tfja￿ rfexp•nded lo the Who￿ netsvork of Ark schools. Pag•3 CLORE OUFFELO FOUMOATION TRUSTEES REPORT (CONTINUED FOR THE YE￿1 EMDED 31 DEC￿l8ER 2013 Buih*ng M th• I￿ndItiOnS laKI kn th• ￿ Jvr (202&24). the prolect seeks to a)g•J& •very 8cPthl kn th8 Ajk netsyork in al two mèanknglul cuNur81 partnernhops by July 2027. ensuriThJ that ojttural 18amiThJ and Opportun￿9$ fomi a enbllemon( r•gardl8ss ofwhere they ¥rn m th• and their hom• ¢lr¢um$l8nces. Th• projed indudes a biannual Nalional Arts Festr44 Ihat (*brnteB the &dthiem8nt of the tstud•nts taklng pgrt and th• Ark Ckxt PathI￿h￿l. Sl Columbkllle's School Trfps: SL*ool trfps are ￿ OPForlunity fc* chld1￿ to enhaneè thèlf18amlng. d¥¥dc sodal #nd wltur•l ¥Waf•n•ss of th• plw th•y kn, and explore thè arts for vthiGh many chilJron in school rem•ns eluswe and. in many ¢•s•s. no￿¥181￿nI. Tho rue visicffi of thi5 proi?¢i is to giv8 each chikj 81 St Cdumbklle'g Prlmary SCI￿ In Rutherglen. S(y)tl4nd #n expeiien¢¢ of being taught each of the Expr86$ivo by a highty experiencad. professional from thal soCtc*. The Is lo cyon ￿ a culturalty ri** oxp&rion¢¢ for every th"Id m tho xh￿￿, an experien(* which du8 lo budgetwy restra1￿ Ihey are unable lo offer tho ch'thjren. Each chld vlill complete Ihe Royd ConsèNaldr• of S¢oll4ThI$ 4 Short CAxw8es in Art. Drama. Music and Dance dos¥ned and dalb￿red by the Royal ConBer¥atoire ol Scotland and do a rglatgd vlsit to a cullursl instilLrtlon or perfom)anc4 81 th• and 01￿ch modda. In iotsl oftha 4 couTres hA¥• 350 portio'pants por cour8•. Th• Found•tK>n ¥AI d¢¥tlop pkn8 to exlorMI tNs wlot wogramme ￿)￿r￿J St CclhnnbkJlh'$ In 2024. Art Fund T••¢h•r F•llow•hSp•: Th• T•athr FeIkY￿h1PS are an iMovatfr** Fwr•mme dèsogned to bjlkl nd 81rengthtn eng8gement bètwe￿ schcK4s aNJ rnLrf¢￿S wlth Ch)ro Leaming SpKo$ awiss tho UK. Through fully lunded 8econ(knents, the Teth Fellmhips programm• Secondary s¢hool teacheT8 th opw>rlunity to work part-time *iihm a rnuseum, SUFVOrtlng thè mu8eum to de¥olop th•k lewnlNJ offer, Inryeg8• engagement wrth scf*x48 In Ihelr area, and gnrlch ¢￿￿1C￿lUn￿l&arnw￿ In sd)0¢4. The Te8choT FeMowsNp8 rngpond lo the IlndlkvJ8 ol a year-long ffject undertaken by Art F￿d the Support of thg ChT8 Duffield FO￿datiOn in 2021r22. Th• proi•d 1.CAX) 1o**ers enjoy th• b¥n•ffts of th& National Art Pass for ¥ y•af, ¥h￿st ra8earehing Iha bathers Ihat many le•ther8 face in ￿e￿91ft9 and engaglng wbth museums. The Teather Felh￿ship8 pl￿ al the very canlr& of tN$ 8ngag&ment, utilising the rtlse to buikl e4jnntict￿s *ith sc*ths Or*￿￿4 thg •xpO￿lco oftr*k PL￿￿. P•rfomilng Art• N•tlon*l S•tunl*y Club The Clore Duffield FcrtJndalp)n has partnored *lth th• Natton81 Saturday Club to laLmch a P•rform0n￿ & Thealre Nab'onal Saturday Club whKth launthed in 2023. The awn is to c¥eale OPFOrtunth"es for young p8opl6 to *xplora. ¢re81e and engage wrth perf0m￿ce unfvrsiii•s. fvrth•r oducation cc41ag•s and In portn8rship wlth I￿¥treS gnd orggnisatK>ns. momters have Il* ¢h•nce lo dgvalop thew understanding and skilh In applefj th•¥tre. Fthysi¢al thth. darth. vocal tralthg, [￿l￿man¢•. and a¢llng tschniquè8, a8 wo11 as productlon 8￿mOnth Such a$ set and c¢n8tum¢ dKi3n. They wil also deNW Iholr leadernhip skim5, exploring roles ￿thin the sector such as dire(*"ng and produong. The Natktnal Saturday Club programma Is Ir88 and open 10 1&1&y•ar-olds of all ablltkn. W88kty dasses are knl by professbon81 tutors from the unNorsiti&$, ¢olle99$ and ￿ltural organisalion$ hosting Ihe Clubs. aLFb members will also lake part wi Masterckisses wth Indu81ry of￿$￿)nAl￿. 7*iSrts to muswm$ galerfe$, an •n&oW Summer Sh￿, Graduation Ceremoniti$. Ongoln9 commllm•nts The Fo(Traalh)n continues lo fvnd the d•b*knprnent of Clofe Learrlng SpaGg¥ 81 ts Okl Wc gnd The Clwyd. Support ￿ntin￿O5 too for Th& Royal 0￿3 H(￿se.8 'Open Up, Propcl and their 'Recovery Fund,, in response to inccffle lost due k> the Covi(k19 pand8mK. DurirvJ 2023 tr* Found8llon corrtinued to make donaion8 to the Kantor Cenlre for Excellence al the knna Frwd Centre provides trainiThJ and support for chld mental heafth s0Th1￿. to Sm¥t Works, whith W¢*n￿ ir￿7 ￿￿Inent and th• Propct, 3UPPQrtirvJ relws. Pag8 4 CLORE DUFFIELD FOUMDATIOM TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 DECEIIBER 2023 Found•llon InlllatlY•¥ JW3 JW3 was •St•bIth￿ by D*ne lthieri Duffiekl, with furthg from the Fourbjation, and oponod in 2013. It IS vibr8nl. c¥oss-¢ommunal hub kn Jewish arts. ￿ltUre. famitry programming. social aclion and learning ￿8r• every￿ne is wolcomo. Clorn L•adov•hlp Chr• LeaderS￿p was by th8 Ckne Duffi•kl Foundalbon In 2(*)3. rocogni60d as on• of th• worfd's best Djllural ￿adershiP programmes, il conlinutt to debwknp leadership potential across the cultural and crealve S•¢to￿. Th• F￿ndatIon contlnuos lo prov•Jo funding for the Prograrnme. Kthing sUPPOrt for Duff￿ld Fellu4V8 wth Ihtr ambition lo ￿ad large arts organisations and those *tylh a aAiural1gamin9 SF4C4alism. Th8 Ck*r• Dufvld Found8tbn b$ 1gPTgsenlgd on the Clor• Leadernlwp Board by Vwion Dirffiald and David Harrel. Clorn So¢thl L••d•rnhlp Clore Sockql Le8dor8hip. ￿￿k￿d by fv F￿Jr￿1IIb)n kn 2008. was baaod on leamlw from tho Clor8 Leadership wogr•nxn• and d•v•knp•d In Mpon¥è to Iho ladt of lead8rsNp devoknpmenl oppthinMieB In th8 charty sectc¥. Eur•k•l EU￿kol first 8rf8h c*Hdren'8 musèum. wam concé￿ by Damè Vi4ryen Duffièld insplrèd by chlldron'8 museLwns ffi thè U.S. Wth fundThJ and support from tho Clorg Duffl8kJ FoundgtKin. Eurekgl O￿n￿d In Halmgx, Yorkshire In 1992. In 2022 Eurokal oparnd rts S¢C4)nd sile, Eur•ka! So•r*e * Dis¢overy, #i Wirral. M•rs•y8id•. FINANCIAL REVIEW Fln•Trclal p•rfornMnc• •nd wttlon For the year ended 31 Dtcombèr 2023. tho F￿ndation h*J in￿mm9 re8¢yms froTll wlunlary SOUfCts and nvestments of £31,839,987 12022. £33,723). The l¢Jl81 exper￿￿ was £5.n1,235 12022.. £4.W,3011. AI 31 D&cem￿r 2023. Mt assets amourrtod lo £69.562,785 12022.. £40,088.5781. Thr￿ghOut 2023, lh¢ FoundaJ(¥* dongt¢d ? to1￿ of £5.$09,368 12022: £3,745.724110 50 {2022'. 331 Ofganisalm￿s. This lotal incl￿$ both amounle paid In the year and amounts c£Jmmittgd but unpgld 91 Ihe year end. The li¥1 of donations In 2023 11 disclosed in note 27 of Iha ffina￿la1 statThnts. R•••m• pollcy The Truslees have rK>t adopted a quanVfiabl8 reserv88 pdky Sn 2023 bocause of th8 hlgh ￿Ve1 of unrastrlcted nds hekl. Thè fmancial situation iry re￿eWed al ea¢h Trultv m•elr@ lo ensure Ihal fopA*¥rd ¢ommth8nl$ and offi¢8 costs can be mot for th& for86eoablè firture. If th• Jtvel of ￿T•StrIded r•8w¥ès shc*Jld fall con8Sdera th• Twslees would con5wler and implement 8 re¥erves polry. Golng conc•rn Aftar maknng appropriat• •rth4Uiri•8. th• Twstee$ hab* ¥ reasona14e eXpe(*al￿n that the Foundalion ha8 adoqugle resourc¢s lo c¢ntinue In wiauonal èxistèncè for Ihe frKeseeabl& ftrture. For this reason. th continue to *dopl the goirvJ cOn￿M basis in the finarKIg1 $l•tements. Furthgr del8il$ regarding tfr athjpbon go￿ cc¥Kgm bg$1s fwr¥J In tr• a￿O￿tIr￿ FK4th8. Pvln¢ty•l rf•*• and un¢trtainlie* The Truslees have reMved the major risk8 to whk* thg Fgundatkjn h exp088d. p8rtku18rfy th080 relatgd to ft8 operal￿nS and finar￿&. The Twstees ha￿ gfftn ¢oMthralion to the oppropri•le pol￿10$, pr¢)￿dy￿S •Thl ms lo mitigat• the Found8tth'8 eX￿re to the tsks. The m4ii ￿na￿la1 risk fac4ng tha FO￿da1￿)n is the p￿en￿ for th• invtsstments lo decrea￿ in vakno, th6r•by rfjduang ihe funds availa￿e for rwrr¢nl and future grant m8ktng. Th[3 Is mttlgaled by Ihe Investment approa¢h of Ihg managers wthkh 1$ foabsed on avciding kn65es a5 muth •5 is reason￿$ and compatitrA¥ with the 8¢hievtm¢nt of a satisfactory relum and by TrustW5 receMrvJ monthty rwbng on the ￿￿[C410'S perfomiance. Thè current portfolki is dNtir86 and 15 rewwed at Tntstee maeting. Page S CLORE DUFFELD FOUNDATION TRUSTEES. REPORT {COMTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 In¥Mtm•rt pollty and p•rfornxne• There are no re8trk*M5 cn the FcwTrJation'$ po￿￿10 irNest. The invèstment strategy is sèt by the Tru$l80$ and le￿0w8￿ on ￿ annual basis and takes ￿C¢unt of wcenl dorna￿ lor fiJrKIs and th8 quality of the funding appli¢alK)ns. Th• Trust8•s con%d8r the income requirements, th• risk [￿Ofile and the inwslmenl manager8. vlw of the market prosFed5 in the medium term. Ths strategi is get wltNn an 0￿r011 F¥Jliry which 5tale5 Ihol fundi ar¢ lo be invested lo rnaximEe total retum wlh duo r￿pacI to rtsk and to t￿ likdihc4Jd that th¢ a$sels of Ihe Foundalion may ba I￿Y axporthd ovarthe (xjwm ofth• nexl 10 ￿8[ In Summer 2022. Trusts•6 •)fe&J to mova in¥eslments from mwagamant by WHAM (Windmai Asset Manag8mentl and to appowrt rnanagerj whose inves¢ment phlosoptiy 13 to prot•X camal and to Inttea$o the real PUfth8sirrfJ power ahoad of inllation over the lon*t¢mi, Witliry the investment porffdio befv4een the Troy TToi*n Fthj and th8 Latlttyje Horizon Fund. Wrth Ihe don8￿n$ in 2023, TN818es agregd to hoNY part of the donation in ¢8sh, gNen the volatithty ol geopolitical Bituat￿Th and m¥kat5. and to inv&61 th8 majorlty th Lfjnsd￿￿rn and Partn8rs kn th8 D8¥oknp•d Mwk•ls Furrtl. The Trustees ensure thw'r inv8stmenl$ gre man*aed responsibty by wlth inv•stm•nl managomènl companies whk* ar¢ 8Nn4tori￿ to th• Unit8d Nation's ￿IncIpl•s IN Responsitde Invè8ting and th9 UK Stew4cdship Cod•. c￿1, the Found•tion'• kn¥•$tment p¢*llo*> madè a 6.3% rnbjm In 2023. STRUCTUR4 GOVERNANCE AND MAIIAGEMEiir Con#tllutlon Tho tharlty wa$ e8t￿rthed, and18 go￿￿d. by a (*•iilat40 Iruqt d￿d f¢m•lis•d on 22 D￿4Mber 2000. Dame Vtrlen D(rffi￿ is Chwnnan of the Clore Cxfflleld Foundotkn five ofvr Twslfj8s. In 2023 1 Foundation had ts¥o members of staff, a Dlrodor (Kate Belarny, fulklinfjl and an Office A8w$lant IC•rollnè Roll, part-llmel. Th8 Trustees meet al le•sl t4¥K¢ a yoar lo awwd grants. ravlew th• inveslrnènt portlollo and ¢on$hler th• •dmlnl$lr•llon of Ihe FO￿)d#t￿M. Th• TTU8t••$ h•kl on• **lit#ind mthlirwJ h12023. All granl Hward de¢1$￿￿ we tsken by Tru8t••#. Al knN*slment d•¢lslon$ are l*k•n by tho Tru¥lg•s upon tho 'c8 of Ihew invè8tmèrrt managw8. M•thod• of •ppOIntm￿rt or •l•ctlon of Tvu¥l• The Foundation Stheme ¥lhws witinuiThJ Tw6toès to appoknt •ddilional Trustsel wtth minimum numbèr of Tru6t••6 boiig Ilwee and the m￿n¥JM Nmber ofTrustees forthe Found•lth to b8 nkne. Tru•t•• Indu¢tton and trnlnlng New Trustees **iuld be supporteil •Xper￿Thd Trust￿$ and SkYKI tkng wllh lh• Dirnctor and staff oftho F￿ndalIon m•ke 8¥alabl8 al th8 fl95 and infoffnatK)n *l>out ts FO￿da￿on. Arwangwn￿ts would bè m•d• lor them to ¥i8rt ofganisatKms swport•(I by th• FOUnd￿n. R•mun•rntlon pdley for k•y mar4g•fi￿t p•rnonn•l staff salaries are sel by the Trusl••s. Th• knl of re¥>on￿lty. W of wAc• ofthè po81-hohJgr. 9nd ￿1￿103 of ￿MparatI￿ rt4e8 In sTrnllar orgar+l8alknns ore al taken into a(xourt when ¢iNKskknwvJ S¥￿ry l•wl$. Gr•nt m•klng pollcl•• Broad￿ 8Feaklng, Iho Found9kn's maln aiTns (both short ard lann} are to support a¢xess to ond gngagement with the art$, ¢dture 8nd ￿rrta￿. Ind￿jirv￿ the creation of leaming spa¢eg v￿thin ¥1¥ and heritage organisalions and Wershlp Ir8YltvJ pth'¢Jlgty for the ojlhnl soctor, Lwt also for the $oc481 5gGlor. Th• Foun¢gllon o1$0 supp￿8 educalion. he¥llh and sodal and is cyjncemed wilh •nhanang Jewsh life. Tre Foundation th)88 r#)1 a riwl apwoxh Ai torn￿ of ts rthia for ils grwit maktsyj. 11 dogs not a￿p1 c* process un$￿1¢￿ed ¥P￿1¢a￿On& 11 does not fund Ind￿U￿S. R8(ipi•nts must by UK registered and wllh Pagè 6 CLORE DUFFIELD FOUNDATIOM TRUSTEES. REPORT {COPfflMUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Charitable ¥latus. In 2023 il c¢ntinued to fund ca&¥tal r*lewlopments (with a particular emphasks on $upporUng Ck*re Leaming Spaces wthin ¢>Jtural lè for We￿n9 Ihe Trust￿$, R•wt thg flnand818tatoments In a(Urdan￿ vAth gpplkable law Ind United lfjrqdtyn h£counllng st￿darth Iunited Kwrydom G•nernly Acuptsd Ace4)unllng Practice). Th• law appkable lo C￿rit￿8 in 8 Wale• requlrns tho Tnffjlees lo prnpar• fin•nco18lalements for •¥¢h finanaal year wh1¢* gfv8 a true and f¥ir vww of the slate of affairs of lh8 FouNJatlon of rts Incoming r68ources and apF41¢at￿n of resourc•8. Indudhg its irKom8 •xpw￿ibJr•, for th#1 pwiod. In preparfng th880 fmancA81 ¥tslem&nls, the Truslètss are required to: 101oL* ￿lIable a¢o)untkng pc4•xs and then ar¢*y thom Con￿&{￿n￿. obsefV• the m81ts)ds 8nd prirKyple8 ofthe Chantios SORP (FRS 102}'. mako judgments and a1>X￿Ing 08Omg1es that are reasonable and prudent.. Stale whethef applKabl8 UK Aeeounlfft9 Standards {FRS 102) have b88n follow•d. $u4'•ct lo any malwial departures disdos4d 8nd exwnèd in the TM￿claI StsteM￿ts'. preparg Ihe finanua slalement8 on the going conc•m ba81s urtess InappropT&•ts to prtsume thal th• Foundotion 7hlll con￿￿ In tAMine88. Thtr Trustees are for keeping prwr accounling records Ihal ore suffidènl to sh¢)w and explaln thè Foundation's tran$adK*ns and db5dos• V*ilh r8a8onabl• ac￿￿8¢￿ •t any lime the financial po8ttbon of Ihg Foundation and enable Ihem to ensure that thfj frtano81 stalomen18 comrAy wrfh the Charitkis Act 2011, the Charity {Acr¥)unls and Rep￿> Re9￿01￿1n$ 2C¥J8 and the pYo¥isions of thg Tru8t d8ed. Thoy are a180 re8pons*Ae for safegugrding the aBsels of the Foundaknn and for tsking Teaxfflable slops for tho prevenlicffi and dete¢lknn ol fraud and other wrwAwilieB. Ol¥¢lo•urn ol Inforn￿tIOn to audltorn Each of the persons who arg Trusto08 al tho tim• vth8n thi8 T￿￿tee$. Rwrt 1$ appro¥ed ha8 c¢nfimed that.. so f8r as that Tntslee 1$ aw*e. is ￿ rnlev4nl ￿dit inlonnthn of¥thith the rtharftl¥ 8udMors are un8W8re, and that Trustee has taken al thè stsps that wght lo have been taken as a Trustee kn orderto be aware of any relewant audi( information and to gstabjlsh that the dwrtys audltorn artr aware of that infonnation. Pa98 7 ## **CLORE DUFFIELD FOUNDATION** **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023** ## **Auditors** The auditors, Sayer Vincent LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees. Approved by order of the members of the board of Trustees and signed on their behalf by: ## **Dame Vivien Louise Duffield DBE Trustee** Date: 17 July 2024 Page 8 CLORE DUFFIELD FOUIIDATIOPI TRUSTEES. REPORT {coMnNUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Auditorj The auditOTS. S8￿r Vmcent LLP. in¢1￿ th•'r lo con¢iiug In offKe. Th& dosignatsd Trustaas il prop)$8 g r•appowilbw tha audrtors at a mo01ing of the Tru8tee8. Apwo¥ed by ord¢r oflhe membtts ofthe board of Tntstèèts and s￿ned on thelr bdwlfty. Dam• Vlvl•n Loul*• Du thld DBE Tru•ts• 17 1gL* P8ge 8 ## **CLORE DUFFIELD FOUNDATION** ## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CLORE DUFFIELD FOUNDATION** ## **OPINION** We have audited the financial statements of Clore Duffield Foundation (the ‘charity’) for the year ended 31 December 2023 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - Give a true and fair view of the state of the charity’s affairs as at 31 December 2023 and of its incoming resources and application of resources, for the year then ended - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **BASIS FOR OPINION** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **PRIOR YEAR UNAUDITED** The financial statements of Clore Duffield Foundation for the year ended 31 December 2022 were unaudited. An independent examination was performed which expressed an unmodified opinion on those statements ## **CONCLUSIONS RELATING TO GOING CONCERN** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Clore Duffield Foundation's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Page 9 ## **CLORE DUFFIELD FOUNDATION** ## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CLORE DUFFIELD FOUNDATION (CONTINUED)** ## **OTHER INFORMATION** The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION** We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the trustees' annual report is inconsistent in any material respect with the financial statements; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. ## **RESPONSIBILITIES OF TRUSTEES** As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Page 10 ## **CLORE DUFFIELD FOUNDATION** ## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CLORE DUFFIELD FOUNDATION (CONTINUED)** ## **AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS** We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below. ## **CAPABILITY OF THE AUDIT IN DETECTING IRREGULARITIES** In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following: - We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to: - Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance; - Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud; - The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. - We inspected the minutes of meetings of those charged with governance. - We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience. - We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. - We reviewed any reports made to regulators. - We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations. - We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. - In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves Page 11 ## **CLORE DUFFIELD FOUNDATION** ## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CLORE DUFFIELD FOUNDATION (CONTINUED)** intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report. ## **USE OF OUR REPORT** This report is made solely to the charity's trustees as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. **Sayer Vincent LLP** Chartered Accountants Statutory Auditors 110 Golden Lane London EC1Y 0TG Date: 23 July 2024 Sayer Vincent LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. Page 12 CLORE DUFFIELD FOUNDATION STATEMENT OF FINANCIAL ACTivmES AS AT 31 DECEMBER 2023 Totsl 2023 Totsl 2022 INCOME FROM: D￿•t10n& Inve8lmenl8 31A60806 383 379,581 33.340 TOTAL 114COME 31,839.987 33.723 EXPENDThURE ON: Rji￿ng fund8 Charita￿¢ a¢thMiti•s 88.240 731,236 3.978,￿1 TOTAL EXPENDITURE 5.731.236 4.C66.301 NEf EXPENDrruRE BEFORE NET ILOSSESVGAINS ON INVESTMENTS Not Ibsiosygain8 on Inwstm•nts 26,108,762 (4.032,5781 3,387AS6 {3,830,0831 13 NET MOVEMEMT IN FUNDS 29,496.207 {7,862,8811 RECOMCIUATION OF FUNOS: Total fvnd8 brought fO￿91d 40,061578 47.929.239 TOTAL FUNDS CARRIED FORWARD 69,S62,78S 40,C86.578 Slatemgn¢ of ￿n4￿￿al AcJv#l&s ¥K4ude8 all gails 4nd recogrMs8d in tho yoar. Th• not•s on pages 1610 34 forffl part afthew fm¥o818thtem•nl8. Page 13 CLORE DUFFIELD FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2023 reslaled 2022 2023 Tanglbl& 8$8¢ts In￿Stments 12 200.793 57.32J.195 219.045 33,940.733 13 57,534,981 34,159,778 CURRENT ASSEf8 Debto Inv981ffl8nt$ Cash al bank and in hond 15 14 112.163 8,352,900 10.625.131 5,017 7.780,879 1.568,048 1•.090.184 9.353,944 Cr•dltor8'. amounts ¢kn *itPMn one yew 16 14.062,3871 (3.447.144) NET CURREMT ASSETS 12.027.797 5,906,8 TOTAL MET ASSETS 69,562,786 40,C68,578 CHARITY FU1408 UnrestrbGlod fwKI8 8•,H2,n5 4D,Ci16,578 TOTAL FUNDS 69,562,786 40,066,578 Tho ffiand81 stst•Thwnts were opwo%*d auth￿￿ lor i8•u• byth• Tr￿tte9 s1gn8d on their behalf by.. D*m• Vlvl•n Loul*• IXrfll•ld D8E Tvu•l•• 11 JULY Tho notos on p48$ 18 to 35 lo￿n wt of thme fmnwl $l•terrwl& Pagg 14 CLORE DVFFIELD FOUMDATION STATEMENT OF CASH FLOWS FOR ThE YEAR ENDED J1 DECEMBER 2023 2023 Nol• CASH FLOWS FROM OPERATING ACIIVmE8 Net cash proNided by Iw•d inl athlties 20 20,249,530 {3,732,8431 H FLOWS FROM INVESTING ACTMTES Dl¥id•nds. interests and rents from In￿￿￿ents Pro¢￿dI from $818 of Purtha8• ol Inve8lm8nts 379,681 33,340 2h27,979 47,652,412 120,000,007) 142.7BO,8671 NET CASH IUSED IN)IPROVIOED BY IIIVESTIMG ACTMTIE8 (17.192A471 4904.815 CHANGE IN CASH AND CASH EQUIVALENTS111 THE YEAR 9,057,083 1,172,042 1108,048 393.QL Caoh and rA8h equlvg19nl¥ at ts b•glMlrwJ of J*ar CASH AND CASH EQUIVALEIITS AT THE END OF THE YEAR 21 10,626.131 1,588,018 note• on pggw 1610 35 fomi part o1th•8e fimnaal 8t&temwnts Pago 15 CLORE DUFFIELD FOUNDATION NOTES TO THE FINAMCIAL STATEIAENTS FOR THE YEAR ENOED 31 DECEMBER 2023 GENERAL INFORMATION The Cb)re Duffi•ld Found9tion is an unmryJp￿étsd r•gist•r•d with thè Chaiity Commisslon for Eryland and W*s. Th• rwst•r•d offic• adthe88 15 UINt 3. Chelsea Slud￿$. Fknd Street. London. SW3 5SR. Tho funct￿al and ￿rr•r￿Y is GBP. ACCOUNMNG POUUES 11 BASIS OF PREPARATION OF FINANCIAL STATEMEIITS Tho finanGio1 ¥ts1orrnnts have been prep8rnd in ¥c￿rda1￿ wlth the Charftl&s SORP IFRS 102) . Accountww and R•porbng by Charities.. Ststement of Re￿n￿￿e￿I•d PractTh applkabl• to th8rTli08 ple￿ng Ihèlr a¢¢ounts in a¢¢4rd•nc6 with the Fnanod ￿da￿d awl￿ble In the UK and RfjputliG of Ireland (FRS 102) l&ff¢¢tw 1 January 2019), the Fuianoal Roporting Sl*ndard aPF4cabl• In fv UK and RoPUt)k ol Ireland (FRS 1021 Chaiib88 Act 2011. Th• fmndal st8t•menl8 hm been propwfjd to • In￿ and f•1¢ vlth¥ and h•ve dop4rt•d from the Chadugs {A¢C￿nIS and R•ports} Re9￿81￿$ 2(rfJ8 onty to the exttnt required lo provbde a true and fairf bryew. Thi• *arture ha$ fcllrNAThJ the Charft*s SORP IFRS 1021 publi$hed in Octobor 2019 ralhw than the Asts of th• Fourth¥on's inv•stm•nt portfolk). - &¥penditur8 on thaiitablè 8¢bth Ihe ¢osl$ ol making gr•nts undw1•k￿ lo fvrthor Ihe purposes ofthe Fotsndatbon and a$80(aat￿ supporl cosls. Irr•￿¥￿rat4e VAT 1$ th•rgod as a ¢osl 4ain8t th• adr¥lty for whkh the expèrHlthrn w8¥ InGuTh•d. 2A GRANTS PAYABLE These arè r•c4)wMod vthen approv4 fof payment h#5 beon gpnn by thfr Truslaes, subJ•ct to any IS ALLOCATION OF SUPPORT COSTS Resource8 expended arn olkoled lo the parti¢xAar adifft wh8r8 tha cost relates dlrth to thal •dMty. Hrywever. the o)51 0104*r811 dir8ctKffl and administration of ea¢h ¥¢tiwty, comprising the lary obwrhoad co#s of th• (*ntro1 furK4kn. b8 apportlon8d on IM bag18 of grant oxpondlturo. Support and 9ovemaThx ¢0818 are re&alocated to oath of Ihe c*wtt•bkn actk4rt1•s In proport￿ lo th• assocKqted grnnt OXFffithrt in the swar. Govemance costs arg th8 costs associ•t•d V￿th the g)vernance affangements of Ihe Foundallon. These ￿sts ar• 85%Kiated with Constituti￿al and statutory requirements and indude any ¢06ts a88oclaled w6th tr* 81rntegic nwyment of ts Found81kn'$ 17 IIITEREST RECEIVABLE Int•r•st on fvThJs held on deposrt whgn re(4v&lg ￿ Ihe amount ¢8n ￿ measured reliabty by the FrAmda￿. this is nommly w nDtyf¢•kn of the irrteost pawj or payable ty the Institution with whom fuThJs are detK)sKed. Page 17 CLORE DUFFIELD FOUNDATIOM NOTES TO THE FINAMCIAL STATEMEiirs FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNnNG POL￿E3 ICONnNUEOI 2A FOREIGN CURRENCIES Monfjtory WMI lthliliBS dèThxnlnabJ kn frKdgn ¢uThgfVi•S Wt tr•ndalod into stsding at r•l•s of ax¢harw• rufjng at Iha r8portwvJ date. TrnnsactionB in for•ign ¢ymnde6 aro trarffjknd knto 4t8thng at th• rats ruliry on th• dot• of lh8 Exchange gakns aThl1058os are rOw￿￿j in the st*tem￿l of Fywidal A(*bryl￿. 19 TAXATIOM The Foundation 13 considered to pass the tests get out ￿ Paragrnph 1 Sthoduie 6 of th• FInan￿ Act 2010 and Ihereknè K meèts t￿ deffinlllon Ctf a chariiable company for UK eX*rporat￿n tsx purwses. Ac¢ordingty. the Foundat*)n is potenlialty exempl from taxation in resF*G* of income OT CBFit81 ￿1n$ ceived wrthin ¢ategon.￿ co¥wgd by Chapter 3 P#rt 11 of the Ccxp)rallon Tax Act 2010 or Secilon 258 of the Taxation of charrJ•8b￿ Gains Ad 19V2, tts the •xtsnl th81 such i￿￿Me or gain8 or• 47pl￿d to chwilablè PLwe•. 110 TANGIBLE FIXED ASSETS AND DEPRECIATIOM TwglA• fwl a>8twiq £2,0￿ (K mor• w• c4plW80d gnd re￿nISed futur• •conomSc b•n•fils •r• prcthbl8 and Iho rthl or In￿* ofthe ¥•￿1 b• measufed relIab￿. Tangible ffixtd 4s8tls aro inth.alty reC￿nIs¢ll al c051. After TOQ)gnitTron, under Ihe cost mod•l, tangibkry flxed as￿t9 are m8awJred al cost less ¥c¢uM￿lled deww'athjn and any 8ccumulated Impalm)enl 10$3e$. AJI ¢o$l$ inc¥rred to bn'rvj a t4￿b￿ r￿ed 088•1 Into ts knlènd•d ¢gndi1Son knduded in lh• m•aswwnorf of cosL At each Yew¥ng dale thè Fr￿ndall0￿ 8uesses whether there is any indlcatlon of Impaim•nl. V su¢h Indkatlon ￿$t$, the re¢o¥w8bl8 am¢)wrt of th& ass•1 1$ d81gnnlned lo ￿ the hwJher of falr value le$$ Costs lo s•1 aThl its valL* In ugè. An Implrnwrt Is r•ry4nliod th• c4n>lng wmount ox¢aeds thè r•r£*¥•rnbl• amount. 08weclalon Is thargod so as to thcete the cofjl of tarybblè fth•d a88ets loss their residual value over their •slimal•d usefid li￿s. u6ry the slrnipM4in• method. Dew*tion IB proyldwj on th• folknrtkng bas8S: kn•hold txoperty . 3% Str¥lght rin& Fixtur￿ and ￿'n￿ - 20% S￿ght I - 10 to 25% Strayhl Ine Th8 assets, resklua usefiA INes depr•(ialion methods are mvi￿e￿. and adlu8ted PIDspethely il •ppropiigt•. or rf there is an I￿￿8t￿On of a $ignfflcgnt chaw 8rnc4 Ihglost reportiroJ Gains and kjsses on thF4)sals are delemiinod by vjmpariry thè W￿8ed8 wlth affthinl d are rgcognlsod in ts Statem￿1 of Financaal Athilkns. Page 18 CLORE DUFFIELD FOUNDATION MOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES ICONTINUEDI 111 INVESTMENTS Fixed ass¢1 In4*8tsnents 8r8 o fwrn of financlal inslwment and are inibally rncJ)gnls•d at thek transa¢tion cost aNI ￿th￿quenty m*￿Ted ￿ fwr value al Ihe Balance Sheel dato, urless the value cannot be measured ffjliabty whbch case it is measurèd al c<>st les5 implirment. Invoslm8nl gains and 10$sos, vthelh•T reali5ed or unre8ltse(l. are c￿nbind and preserrted as 'G8insl{Lo$$es) on 2.12 DEBTORS Trad8 and othef dèbtors are raccgnised al the seidement amount after any trad& dlKount Offttr￿, Prap8yTrent8 are waluod al the ￿8Pa￿ ofwy trgde digcount8 d￿. 2.13 CASH AT BANK AND IM HAND Cash at bank and in hand in¢aJdes cash arbd 8hort49rn liqud ￿￿•s¢m*nI$ wth a short maturmy three months or less from th& date of acqui%t￿lI or 0￿￿Ing ofthe deposlt or sknilar 8ceounl. 2.14 LIABILinES AND PROMSIONS Liabilthes 8re r•cc*3ni8•d when there 5$ •n ot4g8ilon at tho Balartè Sheet dale Bs a r8$ull of a pa81 ont, it18 probable that a transfef of *￿￿MiC benefii wil be rgquirgd tn 8etllemgnt. and tt)a amrAnt of th• soloamenl can b• •8thm•ted rellth. Uabllitias ar• re¢ognised at Ihe amount thal th• Foundalion anticipato$ it wll pay lo $gttle the debt or th• amount11 has received as •dvwc4d pa￿ents for Iha goods or il musl provkle. Pro¥lslon5 ar8 m•a$ured al the best estimalo of the amounts re￿i￿d lo Sett￿ the obligglh)n. Whgre the eff9¢1 ol the ￿rn0 ¥a￿e of money 1$ m8leri•l. tho pro¥ision Is based on th• pr•s•nl v•lu* of Ih08e nounl$. th"sCoUnt￿ at Ihe prfrtax th8{￿U￿1 ralt Ihat reflects the risks $peofi¢ lo the liablllly. Tho nding of the disr￿UTh1 * r*wThsed in the Slatemenl of Flnandal Actrwtttrs as a firwice cosl. 116 NNANCIAL INsTruMeNTS Tho Foundation onPy has fmn¢lal assets and finandal lalylNS9s of a kind th¥t qualfy as ba8k flnanci81 in¥lruments. BasK financial instrumenls a￿ initialky rocognised at transaction value And subsoquanty measured at ther 89tdom￿t v8lue wrth the excepti￿1 of bank knan$ wNch are subsequenlty measured at aMOrti￿ o)st using Ihe efhctfva Intorest method. If6 OPERATIIIG LEASES Rent* pahy under operating we charged to Ihe Slatemont of Finand81 Advltie8 on a $lr•igh14ine bash over th8 term. 2.17 PENSIONS Th• Foundaliefi operntes a d•fm•d I>)ntrI￿rt¥￿ pen8M￿ schwn• charge rewesont5 the amounts pgy4)1g by the Foundalitin lo the fund in re¥*¢l oftr* year. Page 19 CLORE DUFFIELD FOUNDATION MOTES TO THE FIIIANCIAL STATEMENTS FOR THE YEAR EMDED 31 DECEMBER 2023 ACCOUIrnMG POUCIES ICONnNUEDI 2.18 FUND ACCOUNTING General Iwxls are ur¥e8trithd fvnds Thlwth are •v*ble u88 at of the Trusts￿ In furtherarK8 olthe g¢n8r* obiethes olthe Foundation and havo not Wn dè4iJnalad frx other purpose$. Investrnont Y*GOfM. gains and k>s8tt ￿ ah)c•l•d lo tho 8pwowith lund. P4ge 20 CLORE DUFFIELD FOUNDATION NOTES TO THE FINAIICIAL STATEMEPtrs FOR THE YEAR ENDED 310ECEMBER 20Z3 INCOME FROM DONATIOMS Unrn•trlctrd fund8 2023 Tot•1 fund• 2023 Tolol fund$ 2022 DONATIONS Miss V L Cbre'$ 1987 Trust Dame Illbitn Duffiehl DBE 10.4C6 10.406 31.450.000 31AS0.000 383 31,460.408 31A6OMO6 363 TOTAL 2022 383 383 INVESTMENT INCOME Totsl fundB 2023 Total fur￿8 2022 furrfl• 2023 idend Sncome 379,$81 379,S11 1,075 379,581 379,681 TOTAL 2022 33,340 INVESTMEKf MANAGEMENT COSTS 2023 2022 Investment Magement fees 88.240 88,240 Page 21 CLORE DUFFELD FOUNDATION NOTES TO THE FINANCIAL STATEMEPITS FOR THE YEAR EIIDED 31 DECEMBER 2023 ANALYSts OF expENixfuRE OM CHARrrABLE ACTMllES (CURRENT YEAR) •nd L••d•rnhlp H•ilth and •du¢Atlon tralnlng •ocl•l carn J•*tsh •upport Gov•rn•n¢• ¢￿ts Support 2023 total 2022 total Staff ct>sts D•pr•u4Uon ond Irry•*mgnt Grwrt fvnding of acll¥ll Ofk• admln18knt￿O Ronl and ConsultavKy Audm 9ccrxx￿AnCY Le9￿ and prof•$wonal 114.714 11.271 5.IJ)9.388 230,IXX) 1WJ.I 4.988 3.741 1247 123 124.690 12.252 $,609,368 .404 16,565 10,180 2S,111 2.5$0 110.702 11,380 3.745.724 35,104 10,624 49.370 13,384 1,152 821 29,404 18.555 10.680 25.111 826 5.136.363 235.471 1•4.109 81.J70 8,731,135 3,978,fA11 Support GoTrMnance co8ts 52,108 567 58.639 28.023 1.131 283 (28286) Tolll •xp•ndlkn• 2023 5.213A84 238,874 196.667 82.220 5.731.235 Total •xP•nth￿rn 2022 3,41XI.$34 264 248.939 32.324 3.978.061 Page 22 CLORE DUFFIELD FOUMDATh)N MOTES TO ThE FINANCIAL STATEMEMTS FOR THE YEAR ENDED J10ECEMBER 2023 APIALYSIS OF expENDrruRE ON CHARrrABLE ACTivmES (PRIOR YEAR) and L•4d•rnhlp H￿1th and •duc•tlo trninlng •ocl•l Jewhh •upport Go¥•rnanc• ¢osts Support costs 2022 totsl Staff o)8ts Oeprecjation and imp￿rn￿nt Gr￿1 fuNJiw 0laclivi￿ej Office and administratNO R￿1 and Pf8mw• c￿Su￿#neY Audtt and accountarKy Legal gnd wofeuional 95.204 9.788 3.2￿.724 7.749 797 280.(W 235.CKM) 6.842 1.107 110,702 11.380 3,7￿.724 35.104 10.624 49.370 13,384 1,152 621 35.104 10,624 49.370 13.384 1.152 621 MeeOng8 3.306,714 241320 31.221 10.1S7 96.1)•J 3,978.061 Support L¥xIs Gov•m•nc* ¢08ts 81.785 8.857 951 {95.C681 13.035 1.(n1 152 {15.157) Tot•1 •Xp•n&￿ff• 2022 3AOO.534 2•6264 248.93• 31324 3.gn.061 P4e 23 CLORE DUFFIELD FOUIIDATIOM NOTES TO THE FINAMCiAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Cr•nts to IN￿lutIOn¥ 2023 T*)t*l f￿d* 2023 Total fund8 2022 Art8. herflagfj orvj ￿ur￿li Leadwshlp trathln9 Health and ￿d81 J•wlsh 8UPWt 5.009.368 230,000 1W,000 6.009,308 230.IJOO 190.IJOO 3,20D,T24 280,0 235.(O) s,$09.388 $.$09,368 3,745.724 TOTAL 2022 3,745.724 3,745.724 Pleas8 note 27 for • Isl of gr*rt8 made to In•tittthn8. All grant8 In 2022 w•rg mad8 to kn8dtuOons. AUDITORS, REMUNERATION 2023 2022 Fw payabl• lo th• F¢)unda￿On'1 a￿dtt￿ In resp￿1 ol.. Audlt oflm flnand418tatemonts Ind•pendènl 8￿MI)lIK)n of t￿ ffinarKld •lat•mw 12,3011 10. STAFF COSTS 2023 2022 Wagg8 and ¥lwlg8 soc￿1 se¢urtty costs 105,7•2 6.304 12.694 101.413 289 9.oc 124190 110,702 Page 24 CLORE DUFFIELD FOUNDATION NOTES TO THE FIIIAMCIAL STATEMENTS FOR ThE YEAR EMDED 31 DECEMBER 20Z3 11L STAFF COSTS ICONnNUED} The averaye number of pers￿* employed bythe Foundgtion thying the yearw46 a5 folows." 2023 2￿22 &aff The numbtr of empb>ws employee bengffts {exdudino pènslon costs) eX￿•ded £60,1)JO wg¥.' 2023 2022 No. In thg bwd £￿,￿l- £1LK),O(X) Key management p•rsonnel COM￿8￿ tho Tn￿t￿. remLK￿ratfjd. •r¥J Execull D￿•cloT. The total empfv b•n•fits On¢k¥Jhg p•nsbJn Contrlbuljo￿ 8nd n•th)nal Insuran￿) of the key management persomel were £109.26512022". £110,913). 11. TRLISTEES. REMUNERATM)N AND EXPENSES Durin9 th& no Tnrnto￿ •ny or otlw b8nofi1612022. £NIL). During th& ond•d 31 D•c•nknr 2023, £2.531 w•6 relmbursèd LY p*d dlr•aly lo 1 Tru8tse1£2,013 to 1 Trust•e). These relgled lo mobk phon• Page 25 CLORE DUFF*LD FOUNDATIOM •IOTES TO THE FIMANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEIIJBER 2023 11 TANGIBLE FIXED ASSErs l••whold Flxtsm •nd Offic• prop•rty fittings •qulpm•nt Totsl At 1 j•￿#ry 2023 361.637 00,6•2 36.690 468,919 Al 31 D￿mber %)23 361,637 60.S92 36,890 408.91• DEPRECNMON At 1 January 2023 Charye lor th• y••r 146.860 10.849 834 168 J2.680 1.246 239.874 12.262 At 31 D•cembèr 2023 1FI.70• 80,692 33.825 2S2,121 NET BOOK VALUE AI 31 DK•mbw 2Q3 203.921 2D6.79J Al 31 Dec4rnt*r 2022 214.777 15B 4.110 219,046 13. FIXED ASSET INVESTMEPITS As re8latfjd 2022 2023 U•l•d InvMlm•nts F•ir value al the start olthe y Addility18 at Dispo681 proceeds Totsl gairk J3.940.733 50,423.228 20.000,007 3S.000.000 (47,652.412) 3J17A66 (3,830.083) F*lrvalw at th• •nd of th• y 57J28.195 33,940,733 Page 28 CLORE DUFFIELD FOUNDATION NOTES TO THE FINANCIAL STATEMElfrs FOR THE YEAR ENDED 31 DECEMBER 2023 14. CURREKf ASSEf INVESTIIENTS A$ restated 2022 2023 Fixe&term deposits 352,900 7,780,879 1& DEBTORS 2023 2022 DUE wrrHIN ONE YEAR Oth•f dgbtors Prepayments and ac¢n￿d Inc¥m• 6.000 108,163 81 112,153 5,017 18. CREDrroRS: MIOUNfd FALUNG DUE wrrHIM ONE YEAR 2023 2022 Tr•Jo ueditorn Othgr taxatlw •rKI Socurlty Other creditL Accru01$ ru•d gran¢$ pwbb ¢0 w*btulons 3.382 3,458 1,155 10,715 3.428,434 21.965 4,032,198 4.062.307 3.447,144 Page 27 CLORE DUFFELD FOUNDATIOII NOTES TO THE FINAMCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2023 17. GRANTS PAYABLE Grants Payab￿ r•we8•nts grarts (x¥nmilte(l (￿ri￿j th• y. All grant8 are OXF¢ded to be paid vAlhin year of the balartt sheet date. in8tdm8nt8 of MU￿￿[ wants are roccqnisod follo￿nI approv￿ of the Trustees. 2023 B•l8nc¢ at beg￿nN￿ of thé Amounls ¢ommitt•d n the >wr Amolmls pohs rb th• ya•r 3A21hJ4 3.098.838 6.$0•,J88 3.745.724 14.90S,6241 {3,415,9261 B•lanv •t th• •nd ol th• y 4.032.198 3,428,434 10. CONT114GENT LIABIUTIES The Tru$l••$ haw madfj byant awards condNlon41 ¢)n 8atsf*ctW PWf•$$ of programm08 to fv valuo of £8.876.21012022.. £7.41XJ.000). These not yet be4n r•(wniBed 88 l￿bItIo$ du• to tho exISten￿ ol conddions. 19. PRIOR YE￿ RECLASSIFICATION Fixt&lwm deposits wrfh matuiili•$ bet*8•n 6 aThl 12 rnontrA b•8n reda88ffi8d from f￿•d 488•t Investrnenll lo currant a$8•1 knv•8lments to rnfte¢l th• short-term naturè of In¥e$tmenl8. Thè Amount is £7,780.879. 20. RECONCIUATK)N OF IAOVEMEiif IN FUNDS TO NEf CASH FLOW FROM OPERATING ACTMnE3 2023 2022 Nel incomèl{expnd61uro) k¢ tho yew (81 pw Slatomant of Fin•noal 2•A•8,207 (7.882,681) ADJUSTMEIITS FOK. DeprecAalion d￿rge$ Omdends. interest$ and ferrt8 InveStr￿ts {Gain)llo￿ on thè sale of T￿ed 4888ts Increa8• in deblors Increase in ￿edit 12,252 11.380 1379,681} 133.340) 13,387A66I 3,830,083 {107,131) 1859) 816343 322,554 MET CASH PROVIDED BYIIUSED WI OPEIIATIIIG ACTMTIES 26.249.530 (3,732.843) Page 26 CLORE DUFFIELD FOUNDATION NOTES TO THE FINANCiAL STATEIIIENTS FOR THE YEAR E14DED 31 DECEMBER 2023 21. ANALYSIS OF CASH AND CASH EQUIVALENTS 2023 2022 Cash th hand Notice deposits iless than 3 557.569 1.568.048 10,067.562 TOTAL CASH *JID CASH EQUNALEiirs 10,126,131 1.568.048 22. ANALYSIS OF CHAMGES IN NEf DEBT AtJ1 D•c•mb•r 2023 J*thu*ry 2023 C••h flow• Cash at bank and kn hand Ltyid iiveslmenls I,S88,Q48 9.067.013 10,125,131 7,780,879 {2,427.979) 6,362,900 9,348,•27 1.629,104 15,978,031 Page 29 CLORE DUFFELD FOUNDATIOII NOTES TO THE FIMANCIAL STATEMENTS FOR THE YEAR EMDED 31 DECEMBER 2023 23. PEIISION coAIMrrMENTS Foundation operates a d&fingd wtribulion pen￿L￿ schemo. The a8881¥ of thg 8¢hgme are held Separate￿ from those ol t￿ F¢yJr¥Jatiy) in an irthjependgnuy administe￿ fund. Th& pgnskin co$1 charge represents ￿titl￿t￿N￿ pay4ble ty the Fr￿datI)n lo th& fvnd amounted lo £12,59412022.. £9.￿￿1. A balanc• of £3.644 was payabb to th• p￿MIn schomo at tho balance ¥heèt dat• (2022: £1.1551. Thg pono*Jn eXp8n￿ IB 8loc41*l to •&i4itses ￿l￿d on the want fund*¥J dhi*l t(Avard• thos• #di￿•$. OPERATING LWE COMPATMEirrs Al 31 D￿mber 2023 Foundat￿ had cornfr￿ to make ftrtuf• nmrlmum l••w p•ym•n18 ur YMM4ancelbable Opera￿n9 lea￿ as fdbxs". 2023 2022 Not14tw than 1 year L•ltrr Ih8n 1 y and not latw th•n 5 yvrs Lal•r than 5 y 3.936 4,800 19,21KI 4.800 20.400 27,•36 28,928 The l•as• P8>Tn•rts bgon rgGognis•J u an •xp•nM In tho Stolgmgnt of Finandil 202J 2022 Cpofating ren 3,726 4.232 P89e 30 CLORE DUFFIELD FOUNDATION NOTES TO THE FINA14CIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 25. RELATED PARTY TRANSAcnoMS 08me Viwen Duffl&k4 and Oawd Harrel are both T￿￿tee$ of Cbre Leadership. Da￿d Harrel 18 also Truste• of Cb)re Sodal Leadef5hy. Both ar• r•gist•r•d charitses. Grant expenth.luro to Cbre Leader6hip this ￿Or was £230.￿￿1 (21Y22'. £280.(MJO). of whth £230.CI)O romam p8yable at the ￿￿-On￿ 12022.. £280,CO)I. Dame vN￿ DUffi￿ its a Truste8 ofthe Royal Opern HoLNe Covent Garden Foundatknn and Chalr oftho Royal Opera Hou$e EThJwnont Fund 2c￿, are bth r•gist8r8d CharIt￿S. Included vAthin the grnnls ewnditw¢ this year 1$ £1.￿K1,c(￿j 12022.. £1.5CQ.IJOOI reknting lo thè Royal Ol￿ra Hou8&,' £1.500.000 {2022.. £1.5w,orKJi wa8 outs1￿dI)g at the ￿r-and. Thls fom)s part of g MLAt￿￿￿er mm6tmenL Dam8 VNi8n Duffleld 18 a180 a TNStee of ths Im￿rial War Museum Fc¥Jndallon. Dwing 2022, no new mmrtments 12022: £200,C￿) w¢r• mad• lo the Imperial War Museurn and no ¢ommitsnonts wgre pa￿bIe 81 th• ￿ar￿r#I(2o22.' £200.(￿). D•n• Vivion Duffith and M•l8n6• Ch)m arn honor•ry members of the Tate FouDd4ts'on. Durfng 2023. £30.OCQ {2022'. £30,LIJOI wa¥ ¢frn6tt•d to th8 Tate FourKl•lkn: £30.LXKI 12022.. £30,000) wos landing al th• ￿4nd. Ogme Mvlgn Duffield 18 a Twstee of Roc• Ag#trrfl O•mentl•. t)urfng 2023. £25,￿ ¢ommM8d 12022.. £25.CW>,' £25,CW was oulstandbng al tho y88fryend12022.. £25.000). OrAn• Duffield Dabryd aro both TnJsto9• ol Mi55 V L Ck*r•'$ 1987 Chwllabl& Tru81. D￿r￿j 2023. £10.408 Inc4Th0 wa8 reco14Yd from th• Tnrnt12022'. £383). Dame Vwn Duffi•ld 18 a160 a InJ8teg ol Grarvjo Park Opern. During 2023, no grants werg fflado to Iho ¢hwty12022.' £80.0￿). balart• was tyJl$t•y*n9 al th• y8ar4nd. George ￿ffield. son ol Dame Duffield. ra ihe found•r of the 81u• Marlne Foundation, which rKeived grants in the of £S.C¥J)12022.' £5,Cth). F&) balance wa8 outstsTrJing 81 thg year-end. Arab•l8 ￿eld. dAugPrt•r ol Oaffl• VTriDn Duffield, 1$ a Trusteg of Clor• SoL¥#l Leadership I Above ICK Iran88¢1iw in t￿ y8ar} and V7c• Cholr of the Chldrwl. No grnnls wor• made lo Sa%* the Chlldren durlng the year12022.. £35.c￿￿). Ceoly Engle (wlle of Jeremy S￿d￿l30n￿ 15 an OMF￿ of Anna Freud Contro. Durfng 2023, £25.(1)O (2022.. £25,OCKJ) w•s ¢OMmrtt￿, ofwhth £25.OLKI121J22: was outstanding •1 ￿78r￿nd. Jer•my Sandglsw is a trustoe ofth• &ke Pmi8¢1. 2023. £35.OCKI12022.. £25,OW> was c•mmthd during the yoor. £10,(KX) was CAA8laTh*ng at the JYar-eTra (2022.. £NIL). Henry Wyndham is alw a thisle• of thg knpgrtal W¥ Mu50um (pknase see •btsve fc* transaction5 wilh th• Muwm). During the ye¥r, told donalion8 frryn truslws •m(￿ted to £31,￿,000. Tharn w8 no condthons attached to these donations. Page 31 CLORE DUFFIELD FOUMDATKIN NOTES TO THE FIIIANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEIJBER 2023 26. TAXATION The FcdmdallC￿ Is exempt from tsx as all its incnme is dwi18b￿ and 18 apF4ied for charrt purpxes. Page 32 CLORE DUFFELD FOUNI)ATN)N NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 27. SCHEDULE OF GRA14TS IAADE The h'st of grants bkn r￿Ud•S amounts paid and •M￿nts bul W￿•11 ¥t th• y•ar 2023 2022 Grnnts to In•llttrtloM rnl*Onp to Ath, •nd Educ•tion Almlda Theatr• OD 100.000 12.01 5.000 100.OOQ 200.1100 At The 8us Bluo Marin• Found8tknn Brf8tol Zoologkal Stt CoUrtaU￿j Instllu Elia$ Ashmd• TnAI Garden Mus•um Garsinglon Opw4 GI￿debo￿ne Ath Tmst Grange Park Opera Hislort Royal Palxe8. K*￿i¥JI1)n Palx¥ Imp8rlal War IAus•um8 Kfjnslng￿ P•l•c• K•ttl&'s Yard London Librory London Symphony Orthe8tra Monchgsler j*￿$h Mus•L#n MU￿¢ M8Sters Nalional ArchNe$ TTU81 Nalional Gok￿$ of Scdand Nalonal G•hry Nats'onal Museum$ Lr4erpool National Pots¢ Gallwy Nglonal Thgatre Natural HlstLYy MLvum Orch05tras for Al Oxford Instilute for POpubl￿)n Ag•iNJ Paithy Musuern {OneRen) Porth￿rn0 Museum ol Gk￿)31 Con¥nwlGgtK￿$ Prince's Foundatm Royal College of Art Royal Dmwng &*¢X Royal Pl)rt￿j11urd Sct*ty Royal OFera House 90,000 eo.000 11JQ.fjOO 200,000 200,000 37,600 5.000 150.000 5.000 100.000 10.000 100.OOD 60.000 S00.OOD 15.OOD so.00 f 00.ODO 200.ODD 1W.IJOD 25,0(K) 93,434 65.961 100.QIMI 6,SOO 25,OCQ ,oco 60,0 f￿￿,000 80.00 2&00fl 1.0170,000 1.1y)o.o Page 33 CLORE DUFFIELO FOUNDATKXI MOTES TO THE FINANCIAL STATEIIJEKTS FOR THE YEAR ENDED 31 DECEMBER 2023 Royal Opera House CoNTnt Gard￿ Foundabon Royal Opern House ROH Devehwn•nt Tntst Satwday Club TNSt Soulh Lorthn Gakry St c￿umbkI￿'S S￿￿1 Tale Four¥Jation- Tate The Art Fund The 81iti.sh Library The Gla3shouse IntOma￿ C•ntrg fcrf Thè Kkn￿8 Fthmdalkin IPrh)c•'s FwrWJalK￿> Theatr C Trent Park Tumer Cont•ffw•ry I￿1(?)M Theatr• V8A Eajl Stornh¢th• Wallacè Coledlon Watts GaI￿ry W•8t London Zono Young M￿l￿on$ Swnphony OrGh•stra 51KI.000 500.1 80.(K 15,000 30,000 1411.230 5,000 20.000 1211,000 60,000 100,000 So,￿0 lo,￿)0 26,000 200,000 22.570 20,OOQ 30.000 s,009,J68 3,200,724 ¢Jr•nts to In•titsrtlw r•latlng to L••d•rnhlp Trnknkng Clorn Lead•rshp Prowwnm 230,ODD 280.orL) 2JQ,DQO 280.000 larnnts to In•tsthrtloM to HMIth So¢l•l C•v• Anno Fr•ud Centre for Ch*Jr•n & FarniliDs Jewi$h Cwe Mede¢ln$ Sons FronJ•r•s Pr18dla Bacon Hogpko Race Agalnsl Dgmgnllg Sa¥• th• ch￿drnn Fund 25.000 26.000 25,OCiI 75,OCiI 50,000 25,000 35.OC#) Is.000 SmArt wo￿* Chartty Thè Biké Prqect Turquoise Mounthin 30,000 35,000 60,000 25,0(YJ I￿.000 235.000 Pag¢ 34 CLORE DUFFIELD FOUNDATIOII IIOTES TO THE FIIIAMCIAL STATEMEtr FOR THE YEAR ENDED JI DECEMBER 2013 Grnnts lo Institulknm rnlatin9 to Jewith Support Communty SgQbrity Twsl ,000 Total gTrnts mad• 6.$09,311 3.745.724 Page 35