THE HELEN HAMLYN TRUST
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Regislered Number. 4115082
Registered Charity Number: 1084839

THE HELEN HAMLYN TRUST
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
CONTENTS
Page
Reference and administrative information
Report of the Directors
Independent auditors, report
Statement of financial activities
12
Balance Sheet
Cash flow statement
14
Note5 to the financial statements
15

THE HEIEN HAMLYN TRUST
LEGAL AND ADMINISTRATIVE DETAILS
Trustees and Directors
Lady Hamlyn
Dr Kate Gavron
Dr Shobila Punja Ipassed away 28, June 20231
Brendan Cahill
Margaret O'Rorke
Dr Deborah Swallow
Stephen Lewin
Professor Dame Alison Peacock
Professor the Lord Ara Darzi
Baroness Rebuck
Dr Sarah Thomas (appointed 21° September 20231
Director of Finance and Administration
John Roche
Director of Projects and Covordination
Lucy O'Rorke
egistered Office
66 Lincoln's Inn Fields
London
WC2A 3LH
Principal Office
The Helen Hamlyn Trust
Unit l Drayton House Court
Drayton St Lconard
Oxford5hire
OX10 7BG
Auditors
AZETS
Regis House, 45 King William St,
London
EC4R 9AN
Solicitors
Farrer & Co LLP
66 Lincoln's Inn Fields
London
WC2A 3LH
Bankers
National Westminstef Bank PIC
St james and Piccadilly Branch
PO Box 2DG
208 Piccadilly
London
W1A2DG
Investment Managers
LGT Wealth Management UK LLP
14 Cornhill
London
EC3V 3NR

THE HELEN HAMLYN TRUST
DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Report of the Directors
for the year ended 31 March 2024
The Trustees, who are also Directors of the company for the purpose of the Companic% Act, present their report and the
audited financial statements for the year ended 31 March 2024 which are also prepared lo meet ihe requirements for a
directors, report and accounts for Companies Act purposes.
The information with respect to Trustees, Directors, Officers and Advisors Set out on page 1 forms part of this retx)rt. The
financial statements comply with CUTrent statutory requirements, the Memorandum and Articles of Association, applicable
Accounting Standards in the United Kingdom and the Statement of Recomniended Practice ISORPI applicable lo charities
preparing their accounts in accordance with the Finaricial Reporting Standard applicablo in the UK and Republic of Ireland
IFRS 1021 leffective I january 20151, the Charities Act 2011 and the Companies Act 2006.
Structure, Governance and Management
Siructure
The Trust 15 a charitable company limited by gu3rantee, incorporated on 27 November 2000 Ir.ompany registration
number 41150821 and ro815tcred with the Charity Commissioners as a charity on 31 January 2001 (charity registration
number 10848391.
The Trust'5 governing document is the Memorandum and Articles of Association dated 15 November 2000.
Governanc.e
The Directors meet formally at least twice a year and informally throu8houl the year including by elpctronic means.
The existing Director5 select members of the Board. At each AGM, one third of the Directors retire by rotation and are
permitted to submit themselves lor immediate re-election.
The process for the induction of new Truslee.s comprises an initial meeting with the Chair lo explain the history and
strategic direction of the Trust. New Trustees are a150 providL,d with a crJpy of the Memorandum and Article5 of
A55f)Liation of the Company, the latest Annual Report and Accounts, the Bud8Qt, in(ormation on the various Commiltees
and copies of the most recent Board papers.
TrusteL* are encouraged to attend relevant Truslee training events organisLsd by rL'PUtable ihird-party provider5.
The Trustees agree the broad strategy and aieas of activity for the Trust, including consideration of grant makin&
investmer5t, reservos, risk manage.ment and performance.
All Trustees work on a voluntary basis and no remuneration was paid in the year. Details of Trustees, expenses and
related party transaction5 afe disc105ed in Notes 19 and 20 to the Accounts. Trustees are required to disclose all relevant
interests and register them annually with the Director of Finance and Administration and in accordance with the Trust's
policy withdraw from decisions where a conllict of interest aiises.
Management
The Truslees have delegated certain responsibilities lo two Committees in accordance wilh the Trust's governing
document.
The Finance and Governance Committee consisting ol four Trustees has the authority to authorise unbudgeted
expenditure of up to £100,000 in any one financial year. Additionally, the Committee reviews the financial and
governance arrangements for the Trust and advises the Board accordingly on matters including financial management,
human resources, staff remuneration, risk management and the financial audit. The Committee is responsible (or
reporting to the Trustees on investment matters and directing the investment manager as appropriale.

THE HELEN HAMLYN TRUST
DIRECTORS, REPORT (continued)
FOR THE YEAR ENDED 31 MARCH 2024
The Small Grants Committee consisting of the Chair of Trustees, the Director of Finance and Administration and the
Director of Projects and Co-ordination, is responsible for considering and approvin& if appropriate, grant applications
for amounts of up to £1 0,000 per project and up to a value of £1 00,000 in any one year based on the research and
recotntnendations made by the Director of Finance and Administration and the Diieclor of Projects and Co-ordination
and the grant making policies settled by the Trustee5. Occasionally Small grants are awarded to oveiseas charities and
these are further approved by the Trustees.
Day to day financial tnana8ement, risk management and governance issues are the responsibility of the Director of
Finance and Administration.
Pay w)licy for key management personnel
All Trustees who are also Dircctor5 Of the charity give of their lime freely and no director received remuneration in the
year. The pay of key managemcnt personncl and others is reviewed annually and normally increased in line with the
increase in the Consumer Price Index each year and approved by the Finance and Govcrnance Committee. In setting
pay scales lor roles the Trustees benchmark against pay levels in other similar grant making trusts.
Risk management
The Trustees have identified and reviewed the major strategiL, OPL'iational and financial risks to which the Trust IS
exposed. The Trustee5 are also satisfied that the procedures, policies and systo.ms which are in place for risk
management generally are reviewed regularly and mitigate exposure to these risks. This work has idL'ntified the major
risks as,. the inappropriate or ineffectivc Use of grant monies,. and an inappropriate investment policy. To ensure thal
8rant mnnios are. spent appropriately and effeclively the Trust carefully reviews and runs chocks on grants before award
and ha5 an ongoing 5yStem of monitoring and review which includes receiving progre55 fL'Pnrts (including financial
accounting) cind visits to projects. In ordei to mitigatc thL' risks associated with an inappropriate investment policy, the
policy is kept under constant review as arc, inve51ment rc'port5 from the investment managers. The Finance and
GovernancL' Committee moels periodically with the investment managers to discuss the current investment pol ic.y and
consider its appropriatenL'S5. Thc Cnmmittee make5 recomtnendations lo the Trustees following that mooting. The
Committee reviews the investment management reports at least Iwice a year.
Objectives and Activities for the public benefit
The primary objects of the Trust, as stated in its governing document, are the goneral purposes of such charitable bodies
or lor 5ULh charitable purposes as ihe Directors shall think fit in England and Wales or elsewherc.
The Trustees together determine which projects to fund bL'ing mindful of, but unfettered by, the Trust's focus on the
initiation by Lady Hamlyn of medium and long-term projects, funded by way grants, solely or with partners, linked
to the shared interests of Lady Hamlyn atTrd her late husband, Lord Hamlyn.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance
on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting 8rant
making policy for the year.

THE HELEN HAMLYN TRUST
DIRECTORS, REPORT Icontinued)
FOR THE YEAR ENDED 31 MARCH 2024
Grant making Policy
The Trust has wide powers lo make grants. Recommendations for projecls are brought forward to the Trustees and
these recommendations are subject lo approval by the Board.
The current strategy for grant making is concentrated on the lollowing areas of activity: Medical, the Arts and Culture,
Education and Welfare, Heritage and Conservation in India, Inlernational Humanitarian Affairs and Healthy Ageing.
Additionally, small grants of up to £1 0,000 are made to a wide variety of small local and regional charities where a
grant of this size can make a significant difference. All small grants 5UPPOrt the Trust's charitable objectives.
The Trust's core aim 15 to initiate and support innovative medium to long term project5, which will erfect lasting change
and improve quality of life lor the benefit of the publ ic or sections of the public.
Individual projects aim to:
support innovation in the medical arena.
increase acce55 to the arts and support the professional development of artists from the field5 of music and the
performing arts.
increase interculiural undersLindin& provide opportunities for young people to develop new interests and
practical skills which will contribute to their education and their future livcs and to create opportunities for
youn8 offenders to aLquirc practical skills which will support thL'IT personal development for their future lives.
conservL. horitage in India for public access and cultural activities.
support examples of good Practice in the humanitarian sector.
provide practical support to enable the elderly to mainLiin their independence for as long as possible.
The principal objective lor the year was to support existing projects and develop new projects in line with the Trust's
objectives.
Example5 of how ihe objectives lui thL' year were achieved are summarisLd as follows..
LSO Endowment Trust- Endowment for Young Composers Scheme
IndowmL'nt
£2,500,000
The Trust has agreed a £2,500,000 endowment to sustain and develop the legacy of the LSO Panufnik Cotnposers
Scheme. SincL' its inception in 2006 this programme has offered over l 00 early-career c()Tnposers vital opportunities,
mentoring and supporting them while on the programme and a5 they build their professional experience by writing for
a world-class symphony orchestra. ThL, Scheme has a firmly established international reputation as thL' most prestl8lOUS
development programme for early-career coniposers, and feeds directly into the LSO'S artistic strategy, with recent
major commissions awarded to ParTrufnik alumni Donghoon Shin, Eloise Gynn, Ayanna Witter-johnson, Cassie Kinoshi
and Daniel Kidane. The endowmenl will allow the Scheme to grow and develop, ensuring that it5 le8ary continues and
that it remains an incubator for innovation in Loniemporary orchestral music, providin8 Opportunities for Lomp05ers
from all walks of life and with a diverse range of stylistic and cultural backgrounds.
The Royal Opera House, Covent Garden, london
Paul Hamlyn Christmas Treat - The Nutcracker
£150,000 over l year
Following the success of previous programmes that the Trust has run in partnership with the Royal Opera House, the
TrLtst agreed lo fund a Christmas performance for families of The Nutcracker with additional activities, in memory o
Paul Hamlyn. The aim of the Trust's support for this performance was to enable those who have not previously
experienced a performance al the Royal Opera House to do so. This grant is part of a condilional 3-year grant awarded
in 2023. The remait5ing balance on this grant of £150,000 is a contingent liability as described in Note 18 to the
financial statements.

THE HELEN HAMLYN TRUST
DIRECTORS, REPORT (continued)
FOR THE YEAR ENDED 31 MARCH 2024
British Library - Helen Hamlyn Legacy Project
The Helen Hamlyn Trust Young People's Programme
£297,479 over 18 months
As part of a phased approach to the Helen Hamlyn Trust Legacy Project, the British Library will create an 18-monih
pilot programme. Working with a group of 20 young people, they will support them to explore their collections, learn
from curators, and connect with international experts to create two themed strands of disilal conlenl, designed by
young people and for young people. These films will be shared on social media to a global audience, showcasing
colloction items and inspiring young people around the world to explore the BL collections further. Alongside the films,
a programme of cultural events - onsite and online - will engage even more young people. Driven by the ideas and
voices of young people, the programme will be coordinated and delivered by an expert team at the British Library.
University Of Oxford _ Oxford Institute of Population Ageing
EPIC Networks
£505,812 over 2 years
The Elderly People's Integrated Care System IEPICSI was initiated by the Helen Hamlyn Foundation (The forerunner of
the Helen Hamlyn Trust) in the 19805. Through a previous grant from the Trust, the Oxford Institute of Population
Ageing have built upon the legacy of EPICS to develop the model in light of current approaches to healthy ageing,
which emphasizc the importance ol susta ined community connections. The previous grant has facilitated a shift towards
EPIC Networks and this grant will support tho roll out of EPIC Networks iri Oxfordshire and then nalionally.
The Helen Hamlyn Centre for Design at the Royal College of Art
Core funding
£250,000 over l year
This grant fepresentS a Lontinuation of the Trust 5 on-goin8 SLlPPQrt for the Hplcn l-lamlyn Centre for Design IHHCDI
and is part of a conditional l O-year grant nf £2..5 milli()n awarded the year ended 31 March 2023. The remaining
balance on this 8rant 01 £2,000,000 is a contingeni liability as described in N￿e 18 to the financial statements. Core
funding Irom the Helen Hamlyn Trust has to date enabled HHCD to develop an internatiollal reputatiori and a
distinctive real world research profile based on extensivL industrial Lollaboidtion in the areas of design for agein&
healthcare and access to the Workplace and built LnvironmL'nt. This on-going support will help build HHCD's
ktsowledgc and impact in two key areas in the next phase of their development. First, it intends to dL'epen the Lixpertise
of its threL) risLarch labs.. A8e & Ability, Health & Patient safety and Work & City. Second, il intends to L'nhanLe foul
important knowledge exchange mechanisms within the RC4 community= businessp govornment, design practice and
design research.
The Chartered College of Teaching
Rethinking curriculum: Designing for the future
£190,091 over l year
Rethinking Curriculum is a long-term curriculum development project that is focussed on building knowledge and
skills within the English primary sector. It has grown out o( the Trust's Open Futures initiative, which ran from 2003-
2017 with SLhoo15 acros5 England atbd became a powerful pedagogical framewurk lor learning and teaching in Primary
SLht)01s.
Rethinking Curriculum aims to Support and equip leachers atFd schi)ol leadcr5 Wlth the knowledge and skills to identify,
plan and implement curriculum developmenl work in a su5taiDable, context-specific and impactful approach. Thi5 will
mean ihat all pupils will have access to an expansive, inspirin8 curriculum thal connects them with local communities
and enables them to lead healthy, fulfilled lives.
CCT will study all the Open Futures resources identifying the key principlos. The findings will be used lo begin a
proces5 of expert Co-design to develop resources and prolessional development opportunities. Working with 5 partner
pilot schools to develop their curriculum over the next year, they will access expert support for the areas each school
requires and engage in a co-design process lo develop resources and professional development opportunities. The pilot
year will be evaluated and this will inform further resources for all primary schools to access in their own curriculum
journey.
The grant forms the second part of a 2-year conditional grant of £380,182 awarded in the year ended 31 March 2023.
The balance on this grant of £190,091 at 31 March 2023 was a contingent liability as described in Note 18 to the
financial slatements.

THE HELEN HAMLYN TRUST
DIRECTORS, REPORT Icontinued)
FOR THE YEAR ENDED 31 MARCH 2024
Achievements and Performance
The Trust continues to monitor the performance of a range of existing medium and long-term projects across the
spectrum ol Ihe Trust's grant making activitie5. All the projects undertaken by the Trust are considered lo meet the
requirement for public benefit. However, in certain cases, such as the funding of medical research programmes, it is
not possible at this stage to quaniily the number of potential beneficiaries.
All beneficiaries of grants provided by the Trust are required to Submit at least one report in a standard lormat annually
to allow the Trustees to assess progress and measure results.
Financial Review
Income generation
The Trust was awarded a grant of £2,000,00012023-. £2,000,000) by the Paul Hamlyn Foundation in respect of the
year to 31 March 2024. The Trustee5 are confident of receiving further funding from the Paul Hamlyn Foundation in
future years.
During the year Lady Hamlyn made a donation to the Trust of £2,950,659 to enable ihe Trust to award Ihe £2.5 million
ondowment to the LSO EndowmL'nt Trust and to make a grant to Fordham University for the Helen Hamlyn
Humanitarian Fellow. It is anticipated that Lady Hamlyn will mako further donations to ftjrther enable the Trust to award
further strategic grants which it would otherwise nnt have the resources to provide.
Fundraising
The Trust doe5 not fundraise from the public and does not use the services ol a lundrai5er or similar. The Trust receives
donations from the Paul Hamlyn Foundation, which are not the result of active fundraising. It is not anlicipated that
thi5 Sltuation will change, however should the Trust ever choose to actively fundraise it would comply with all
statutory ￿quirementS and the best fundraising practices in force at that time.
Financial risk management
The following statements 5ummari5e. the charity's pol icy in managing identifiL.d forms of fin¢incial risk=
Price risk
The chdrity nL'goliate5 8rants awarded to finance the charity'5 activitie5 and incorporates this information into ils
business plans. Salary costs are Lommunicated to staff during the formal annual review of salaries. Prices of materials
purchased are subject to contracts with supplic'rs, based on current market prices.
Credit risk
Credit risk on amuunls owed to the charity by third parties is low, as there arL' no 5i8nificant debtors.
Liquidity risk
The charity has no borrowings.
Interest rate cash flow risk
The charity is able to place surplus funds on short term deposit account with the Trust's bankers.

THE HELEN HAMLYN TRUST
DIRECTORS, REPORT {continuedl
FOR THE YEAR ENDED 31 MARCH 2024
Investment Powers, Policy and Performance
The Trust'5 governing document defines the Trustees, investment powers a5 unlimited. These powers have been
delegated by the Trustees to the Finance and Governance Committee, which reviews performance ol the investment
portfolio and the investment manager and considers any changes required to policy, reporting to the Trustees as
appropriate. The Trustees have delegated discretionary management to a specialist portfolio manager under an
investment agreement.
The TrLtsl's investmenl strategy is described as a cautious strategy and has the primary investment objective of
preserving purchasing power relative to the rate o( GBP inflation, while accepting a balanced level of risk in order to
generate income. The portfolio structure is diversified and has also been designed to ensure that cash 15 available to
meL* the Trust's current and future grant commitmonts. The composition of the investment portfolio excluding cash
holdings is shown in Note 13 to the Account5.
2023 wa5 a difficult investment environment for cautious portfoliD5 such 35 the one held by the Trust and as a result
the Trust incurred revalvation10sses alihou8h these were not of a magnitude which would significantly affect the Trust's
grant making. Early 2024 saw a recovery in the Trust's investment environment resulting a modest revaluation within
the year. It is further hoped that ihe investment environment will improve throughout 202412025.
Reserves Policy
As a 8eneral policy grants are currently accoLJnted for in ful l in the year in which they ale awarded, albeit payme.nts in
some circumstance are spread over 3 number yoars. The exceptions to this general policy are described in Note 18
Contingent Liabilities - in the note5 to the Accounts. The Trust has accumulated unspent income sufficient to fund its
CX15ting comtnitments and its contingent liabilities should the. conditions attached to those grants be met. The Trustees
als() have the discretion to disburse some or all of its Expendahlc Endowtnent. Having regard to thi5 thc. TrustL'CS have
re-examined the requirement to maintain free rL5efves and concluded that the level currently maintained is appropriate
lo ensure. that the Trust, in thc event of a significant reduction in the level of its income, would be able to conlinue its
activitlL'5 whilst the Trustees consider how the income would bL' replaced or activities changed. The Trustees have
determined that in future years the minimum level of reSL'rve5 Should not be less than £2 million. This policy is being
kept unde.r review in light of future income expeclations and planned ch3ritablc L'xpenditurc. The current Icvel ol free
reserves is £.3,874,245 12023= £5,167,375). Total reserves being £3,879,704 1202.3= £5,172,833), rcstricted reserves
were £5,45812023: £5,4581.
In order to support the Trust and to enable it to make commilmerkt5 to longL'I term projects, there is a Deed of Guarantee
dated 23 March 2006 from Lady Hamlyn I'the Guarantor'l in favour of the Trust which is held io nieet any claim made
against the Trust lor the paymont of any grant that the Trust has undertaken to pay, il and to the exte.nt that the_ Trust
has insufficient reserves to meet such a claim. The amount of the Guarantor's liability is limited to £5,000,000.
The Trust has an Expendable Endowment Fund as described in the Noie 17 to the Financial Statements.
Plans for the Future
Thi. key focus over the next year will be on supporting existing projects and developing new opportunities relating lo
existin8 projects with a view to ensure that as far as possible the levels of charitable bL'nefit created are maintained.
The Trustees will continue to monitor the situation externally and adapt the Trust's strategy appropriately.
It is anticipated Ihat the Trust's existing projects, and new opportunities re131ing to existing projects, will lully uli lise the
Trust's income for the next three years.
No change in grant making policy is envisaged at p￿sent.
During the year the Trustee5 held a meeting to discuss the Trust's long-term slrate8y and the legacy of ihe Trust. The
Trustees made the decision that the Trust would continue for a limited number of years following Lady Hamlyn's
passin8. Over the coming years the legacy strategy for the Trust will be further developed, focusing on the Trust's core
areas of interest in order to ensure that Trust is well positioned to leave a legacy of lasting charitable benefit.

THE HELEN HAMLYN TRUST
DIRECTORS, REPORT (continued)
FOR THE YEAR ENDED 31 MARCH 2024
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees, who are also directors of the charitable company, are responsible for preparin8 their report and the
rinancial statements in accordance with applicable law and regulations.
Company law requires the Iruslees to prepare financial statements for each financial year. Under that law the trustees
have elected to propare the (inancial statemcnt5 in accordance with United Kingdom Generally Accepted Accounling
Pr3CticÉ, (United Kingdom Accounting Standards and appl icable lawl. The linancial statements are required by law to
give a true and fair view of the state of the affairs of the charitable company and the group and of the surplus or deficit
or that period. In preparing these financial statements ihe Irustees are required to:
Select suitable accounting policies and apply them consislenily
Observe methods and principles in the Charities SORP
Make judgement5 and estimate5 that are reasonable and prudent
State whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements
Prepare the financial statements on the going concern basis unle55 it Is inappropriate to assume that the
charitable company will continue in operation
The trustees are a150 responsible for keeping proper accounting records that disc105e with reasonable accuracy at any
time the. financial posilion ol the charitable company and enable them to ensure that the financial statements comply
with the Companies Act 2006. They are also responsible for safeguardin8 the asse.ts of the charitable company and
hence (or taking reasonable steps for the prevention and detection of fraud and other irregularities.
STATEMENT OF DISCLOSURE TOTHE AUDITOR
So far as the Board of Trustees are aware:
al Ihere is no relevant audit information of which the Chality's auditors are unaware- and
bl they have taken all steps that thL'y ought to have taken as Trustees and in order to make themselves aware of
any relLvant audit information and to establish thal the Charity's auditors are aware of that information.
Auditors
A re501ution propusing the reappointment of Azets will be put to the Trustees.
By order of the board
Lady Hamlyn
Director
3.J 2024

INDEPENDENT AUDITORS, REPORT TO THE HELEN HAMLYN TRUST
Opinion
We have audited the financial statements ofThe Helen Hamlyn Trust Ithe 'charitsble company'l for the year ended 31
March 2024 which comprise the Statement ol Financial Activities, Balance Sheet, Sialement of Cash Flows and notes
to the financial statements, including significant accounting policies. The financial reporting framework Ihat has been
applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting
Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Irelarjd (United Kingdom
Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 March 2024, and of its incoming
resources and appl ication of resources, including its income and expenditure, for the year then ended,.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,.
and have been piepared in accordance with the requirements ol the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI 11SAs IUKII and applicable law.
Our rL'Sponsibilitie5 undor those standards are lurther described in the auditor responsibilities for the audit of the
financial 51ale.ments section of our report. We are independent of the charitable company in accordance with the ethical
requireincnts that are. relevant to our audit ol the linancial statements in the UK, including the FRC'S Ethical Standard,
and we have fulfilled our other ethical responsibilities in accordance with thLI5e requirements. We believe that the
audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statemcnts, we havc concludcd that ihe trustees, use of the going concern basis of accounting
in the preparation of the financial 5tatemLints 15 appropriate.
Based on the work we have performed, we have not identilied any material uncertainties relating to events or condilions
that, individually or colloctively, may cast significant doubt on the charitable cnmpany's ability to continue as a going
concern for a peri()d of at least twelve months fTom when the linancial 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.
Other information
The other information comprises the information included in thL. trustees, annual report, oiher than the financial
statements and our auditor's report thereon. The trustees are responsible for the othL'r information. Our opinion on the
fitiancial Statements does not cover the other information and, except to the extent othenvise explicitly stated in our
rL'port, we do not exprL'55 any form of assurance Lonclusion thereon. Our responsibility is to read the other
information and, in doing so, consider whether the other irlformation is materially inconsistent with the financial
statements or our knowledge obtained in the course of the audit or oiherwise appears to be materially misstated. If
we identify such malerial inconsistencies or apparent material misstatements, we are required to determine whether
this gives rise to a material misstatement in the financial statL'ments thL'msL.IvL'S. If, based on the work we have
performed, we conclude that there is a material misslalement of this other information, we are required to report that
act.
We have nothing to report in this regard.

INDEPENDENT AUDITORS, REPORT TO THE HELEN HAMLYN TRUST (Continued)
Opinion5 on other matter5 prescribed by the Companie5 Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the trustees, reF)orl, which includes Ihe directors, report prepared for the purposcs of
company law, for the financial year for which the financial slatements are prepared is consistent with the
financial statements- and
the directors, report included within the trustee5' report has been prepared iri accordance with applicable legal
requirements.
Matters on which we are required to report by exception
In the light of the knowledge and underslanding of the charitable company and its environment obtained in the
course of the audit, we have not identified material misstatements in the directors, report includod within the truslee5'
report.
We have nothin8 to report in respect of the following matters in relation to which the Companies Act 2006 requires
us to report to you if, in our opinion=
adwuate accounting records have not been kept, or returns adequate for our audit have not been received
froni branches not visited by us,. or
the financial statements are not in agreement with the accounting records and returns,- or
certain disclosures of trustees, remuneration specified by Saw are not made,. or
we have not received all the information and explanation5 we require for our audil.
Responsibilities of trustees
A5 explained morc lully in tho trustees, rc5pDrFsibilities Statement set out on page 8, the trusteos Iwho are also the
dirL'Ltors of the charitable LC)mpany for the purposLS ol Lompany lawl are fespc)nsible for thL' prc'paratiotk iho financi21
statL'mL'tits and for bL'ing satisfied that they give a true and fair view, and for such internal control as thL. trustees
determinL' IS neLes5ary to enable the prLparation of linancial statements that are free from material misstatement,
wheiher due to fraud or error.
In preparing the financial statements, the trustees are responsible for cissessing the charitable company's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern
basls i)f accounting unle55 the trustec5 Qither intend to liquidatL￿ thL' Lharitable company or to LeasLTr Dporations, f)r have
no Icalistic alternatlVL. but to do so.
Auditor responsibilities for the audrt of the financial statements
Our objectives are to obtain reasonable assurance about wtheiher the financial slalements as a whole are free from
3terial mi55tatement, wheiht)r due lo fraud or oiror, and to issue an auditor's report that includes our opiniotk.
Reasonable assurance is a high lovel of assuranco, but is not a guarantee that an audit conducted in accordance with
ISAS IUKI will always detect a material misstatement when it exists. Mis51atefnetSt5 can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to infsuence the economic
deci5ion5 of u5er5 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, outl ined above, to deteci material mi5Statements in respect of irregularities, including
fraud. The extenl to which our proc¢Ylures are capable of detecting irregularities, including fraud is detailed below=
Irregularities, including fraud, are instances of non-compliance wilh laws and regulations. We desi8n 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 is detailed below:
10

INDEPENDENT AUDITORS, REPORT TO THE HEIEN HAMLYN TRUST Icontinuedl
enquiry ol nianagemeni and those charged with govcrnance around actual and potential litigation and claim5
as well as actual, suspected and alleged fraud-,
reviewing minutes of nieelings of those charged with governance,.
asse55ing the extent ol compliance with the laws and regulations considered to have a direct material effecl on
the financial stalement5 or the operati(Ins of the company through enquiry and inspection,.
reviewing financial statement disclosures and testing to supporting documentation to assess compliance with
applicable laws and regulations-
perforrr>ing audit work over the risk of management bias and override of controls, including testing of journal
entries and other adjustments for appropriateness, evaluating the business rational of significant transactions
outside the normal course of business and reviewing accounting estiTnates for indicators of potential bias.
Because of the inherent limitations of an audit, Ihere is a risk that we wil I not detect all irregularities, including those
leading to a mateiial misstatemenl in the financial stalements or non-compliance with regulation. This risk increases
the morc 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 bccome aware of instances of non-compliance. The risk is also greater regarding
irregularilies occurring due to fraud rather than error, a5 fraud involves intentional concealment, forgery, collusion,
omission or misrepresentation.
further
description
our
responsibilities
is
available
on
the
FRC'S
websile
https=l/www.frc.(Irg.ukllibraiy/standards-codes-policylaudit-assurance-and-ethics/auditors-responsibilities-for-the-
audit/. This description lorms part of our auditor's report.
at..
Use of our report
This report is ￿ade 501ely to the charitable company'5 members, as a bodyi in accordance with Chapler 3 of F¥rt 16
of the Cnmpanies Act 2006. Our audit work has beon undertakL'n 50 that we might state to the charitable cotnpany's
members 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 lo anyone other than thc charitahle company and
the LharitablL' cumwdny's ml'mbi'rs as d bodyi for our audit work, for this report, or for the opinions we have lormed.
A.LT
John Howard (Senior Statutory Auditor)
For and behalf of Azots Audit SeFvices
Statutory Auditor, Chartered Accountants
2. FI(￿r, Re8is House
45 King William Street
London
EC4R 9AN
Date: o.f

THE HELEN HAMLYN TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING THE INCOME & EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Expendable
Restricted Endowment
Unreslricted
Fund5
Funds
2024
2023
INCOME AND ENDOWMENTS FROM
Notes
Donations and legacies
Investments
Other income
4,996,917
249,711
4,996,917
249,711
2,044,315
207,977
Total Income
5,246,628
5,246,628 2,252,292
EXPENDITURE ON
Raising funds
InvestmeTrt tnaniigement costs
Charitable activities
Granl making and other charitable
activities
26,023
26,023
26,333
6,813,652
6,813,652
2,432,848
Total Expendilure
6,839,675
6,839,675
2,459,181
Net Ilossllgain on invcstmcnt5
13
299,918
299,918
1.553,-3511
Net expenditure
Transfers b￿￿eeTh funds
11,293,129)
250,0(X)
11,293,129)
1760,2401
1250,0(K)I
Nel movement in funds
11,043,1291
1250,0001 11,293,129)
1760,2401
Reconciliation of funds
Total funds brought loThvaTd
4,443,682
5,458
723,693
5,172,833
5,933,073
Tolal fund5 tarried foTward
3,4(X),553
5,458
473,69.3
3,879,704
5,172,833
All income and expenditure for the year defive from continuing activities.
All recognised gains and losses are included in the Statement of Financial Activities.
The notes on pages 15 to 30 form part of these accounts.
12

THE HELEN HAMLYN TRUST
Company Number: 4115082
BALANCE SHEET
AS AT 31 MARCH 2024
Notes
2024
2023
FIXED ASSETS
Tangible fixed assets
Heritage Assets
Investments
409
18,452
9,559,097
1,475
18,452
6,591,915
9,577,958
6,611,842
CURRENT ASSETS
Debtors
Cash at bank and in hand
10,045
822,993
9,024
783,772
833,038
792,796
CREDITORS: Amounts falling due
wiihin one year
15,173,722)
17,548,422)
NET CURRENT ASSETS
14,340,684)
1755,6261
TOTAL ASSEfs LESS CURRENT
LIABILITIES
5,237,274
5,856,216
CREDITOR5: Amounts falling due
afier mole than one year
11,357,5701
1683,3831
NET ASSETS
3,879,704
5,172,833
FUNDS
Capilal Funds
Expendable endowment funds
473,693
723,69.3
473,693
723,693
Income funds
General unrestricted fund
3,400,553
4,443,682
3,400,553
4,443,682
Restricted funds
5,458
5,458
3,879,704
5,172,833
The notes on pages 15 to 30 form part these accounts.
The financial statements were approved and authorised for issue by the Board of Trustees on J
and were signed below on its behalf by:
- Z-f.
Lady Hamlyn
Director
Dr Kate Gavron
Director
13

THE HELEN HAMLYN TRUST
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Cash flows from operating activities
2,456,774
1279,9241
2,456,774
1279,9241
Cash flows from investing aclivities
Dividends and inleresl
249,711
207,977
Purchase of investments
14,076,264>
1459,1951
Donation of investments
12,950,659)
Proceeds from sale of investments
4,359,659
580,461
Purchase of property, plant and equipment
Enhancement of heritage asset
12,1521
Net cash lused inl investing activities
39,221
47,167
Change in cash and cath equivalents in Ihe
reporting peri(bd
Cash and cash equivalents al the be8inning of the
reporting period
783,772
736,605
Cash and cash equivalents al the end of the
reporting
period
822,99_3
783,772
2024
2023
NL.t movL'ment in funds
IGain5llLosses on investments
Depreciation charges
Decrease]lincreasel in debtors
Increa5e/ldecreasel in creditors
Interest and dividends
11,293,1291
1299,9181
1,066
11,0211
4,299,487
1249,7111
1760,2401
553,351
5,595
18001
130,147
1207,9771
Net cash provided byllused in) operating activities
2,456,774
1279,9241
14

THE HELEN HAMLYN TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES
The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Siatemisnl of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicablo in the UK and Republic of Ireland IFRS 1021 leffeclive l January 20151- (Charities SORP IFRS10211,
the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
The Helen Hamlyn Tru￿ meets the definition of a public benefit entity under FRSI 02. Assets and liabilitie5 are inilially
recognised at historical cost or transaction value unless Otherwise stated in the relevant accounting policy notes.
Going Concern
The accounts have been prepared on the assumption that the Charity is able to carry on its activitie5 a5 3 goir5g concern.
In as5e55ing the Charity's ability to continue as a going concern, the Trustees have considered the Charity's liquidity
position and reviewed cash flow forecasts for the foresccablo future.
Given the charitable company's level of free reserves available at the year end, the Trustees consider that the charitable
company has adequate resources to continue in operational existenci, lor the loreseeable future. The Trustees are
confident that the current level of donation from the Paul Hamlyn Foundation will be maintained in future years.
Accordingly, Ihe financial statements have been prepared on a going concern basis.
Donations and gifts
Donations are credited to revenue on a receivable basis. Listed investments donated to thc Trust are accounted for at
market value on ihe date of drjnation. Gifts IT> kind are valued at a reasonable e.stimate of their value to the Trust.
Grants receivable
Uncnnditional grants receivable are credited to the ststement of financial activities in full in the year in which they are
receivable.
Expenditure
All expenditure is accounted for on an aLLrua15 ba515 and has bL'en Llassilied under headin£s that aggregate all costs
rL.lated to each iateg()ry. Where C05ts cannot be directly attiibuled to particular headings, they have been allocatLd to
activitics on a bas15 conslstent with use ol the resources.
Grants payable
Grants payable are recognised when a constructive obligation arises. For unconditional grants, a conslrurtive obligation
15 deemed to arise whL'n the grantec is informLd of the award of a grant. For conditional granls, a constructive obligatiun
15 deemed to arise only when the conditions have been met. A contingent liability (Note 181 is disclosed for these
grants, which do not re.present liabilities, where the possible obligation, which arises from past events, will only be
confirmed by the occurrence of one or MO￿ uncertain future events not wholly within the tTUStees' Lontrol. Granl
Lommitments for awards with expected payments exceeding twelve months have beLTrn discounled using markd lates
for cash matching the term of the liabilities and return on investments calculated to be 2.97010 p.a.
15

THE HELEN HAMLYN TRUST
NOTESTOTHE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 MARCH 2024
Allocation of overhead and support costs
Overhead and support costs have been allocated first between charitable activity and governance. Consultancy fees
and expenses, overhead and support costs relating to Charitable Activities have been apportioned based on the value
of individual grant awards made in recognition of the administrative burden of awarding, monitoring and assessing
grants. Consultancy fees and expenses have been allocated to the charitable activity to which the consultant's work
related. The analysis of overhead and support costs 15 Shown in Note 6.
Governance costs
Governance costs include audil and accounting fees, board costs and other c0515 directly attribulable tr) the governance
of the Trust.
Fixed assets
The cost of fixed assets is their purchase cost, together with any incidcntal costs of acquisition. Depreciation is
calculated so as to write off the cost of tan8ible fixed assets over the expected useful economic life of the assets
concerned. The principal annual rates used for this purposc are=
ComputL'r equipment 25 % straight line basis
Other equipment 25.10 straight line basis
Website 25°/o Straight linL. basis
Only those tangible fixed assets exceedin8 £1,000 value are capital ised, all assets under this value are expensed in
the yL'ar of purchase.
Fixed Assets - Heritage assets
The Trust holds the 'Bernard Npvill Collcction,, which is a tangible fixed asset of hist(Irical and educBtii)n31 imprJrtance
and 15 held to advance the educational objectives of ihe charity specially within the field o( design. This collection was
purchascyl in the year ended 31 March 2021 and capilalised.
The very Ion8 expected life of this heritage asset, due to its nature, value and need to be protected dnd preserved means
that dep￿CIatIOn is not material and is, thcrefore, not provided.
Operating Leases
C05t5 in respect ol operating leases are charged to the Statement of Financial Activities on a straight-line basis over the
lease term. Oper8tin8 lea5e5 arL, described in Note 21 to the financial statements.
Fixed asset investments
Listed investments are stated at their market value at the year end. The realised and unrealised gains
and losses arising on revaluations and disposals are included in the Statement of Financial Activities in the
year in which they arise.
Realised gains and losses
All gains and losses are taken to the statement of financial activities as they afise. Reali5ed gains and 1055es on
invL'stments are calculated as the di*terencc between sale proceeds and opLining market value Ipurchase date if later).
Unrealised gains and losses are calculated as the difference between the mafket value at the year end and opening
market value (purchase date if later). Theie were no realised gains and losses in the year.
Investment Income Recognition
Investment income is rccognised on an accruals basis where certainly ol receipt can be established at the
year e.nd. Income arising on investments held in the No.1 Expendable Endowment Fund is allocated to the
Unrestricted Fund.
16

THE HELEN HAMLYN TRUST
NOTES TO THE FINANCIAL STATEMENTS Icontinued)
FOR THE YEAR ENDED 31 MARCH 2024
Irrecoverable VAT
Any irrecoverable VAT is charged to the statement of financial activities, or capilalised as part of the cost
of the related asset, where appropriate.
Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historic31 experience and other factors,
including expectalion5 of future events that are believed to be reasonable under the circumstances. There are no such
critical accounlin8 eslimates and assumptions to report.
Pensions
The Trust is a member of the Pensions Trust Flexible Retirement plan, a defined contribution money purchase plan.
The Trust contribute5 lo the personal pension plan5 06 staff. Contributions payable for the period are charged in the
Statement of Financial Activitie5 on the accrua15 basis.
Recognition of liabilities
Liabilities are recognised when an obligation arises to transfer economic benefits as a result of past transactions or
events.
Debtors
Trade and other debtors are recognised al the settlement amDuni duc after any trade di5counl offered. Prepayments
are valued at the amount prepaid net of any Irade discount5 due.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments.
Cred>tors and provisions
Creditors and provisions are reci)gni5ed where thc charity has a prtsent obligation resulting from a past event that
will probably result in the transfer of (unds to a third party and the amount due to settle the obligation can be
measure.d or eslimaled re.liably. Creditor5 and provisions are normally recognised at their settlement amount after
allowing for any Irade di5courit5 due.
Employee benefits
Short term benefits
Short term benefits including holiday pay are recognised as an expense in thl PLriod in which the service is received.
Employee termination benefits
Termination benefits arL' accountLd for on an accrual basis and in line with FRS 102.
Fund accounting
Unrestricted funds are those funds which are available for use ai the discretion of the TrUStel￿ in furtherance of the
general objectives of the charity and which have not been desi8naled for othL'r purposos.
De518nated funds are unrestricted funds that are available for use against specilic projects as identified by the Trustees
in furtherance of the general objectives of the Trust.
Restricted funds are those funds which must be used in accordance with the wishes of the donor.
The Trust has an Expendable Endowment Fund as described in Note 17 to the accounts.
Foreign Currencies
Assets and liabilities in foreign currencies are translated at rates of @xchange ruling at the balance sheet date.
Transactions iti foreign currencie5 undertaken during the year have been trans5ated al the average rate for the month in
which the transaction occurred. Currency differences are written off in the Statement of Firiancial Activities.
17

THE HELEN HAMLYN TRUST
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 MARCH 2024
INCOME FROM DONATIONS AND LEGACIES
2024
2023
Donations
From individuals
From individuals - in kind lo*fice costs including rentl
From iridividuals - in kind (seconded employee)
From other charitable bodies
2,950,659
12,240
34,018
2,000,000
12,240
29,628
2,000,000
4,996,917
2,044,315
INCOME FROM INVESTMENTS
2024
2023
Dividends
Bank intL'rest
Othcr intcrc5t
22.5,049
24,662
204,285
3,692
249,711
207,977
OTHER INCOME
2024
2023
Other income
18

THE HELEN HAMLYN TRUST
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 MARCH 2024
EXPENDITURE ON RAISING FUNDS
2024
2023
Investment managers fees
26,023
26,333
26,023
26,333
CHARITABLE EXPENDITURE
The charily undertook management of the Setubal Music Festival, however the main focus of the charity remain5 the
awarding of granls to a number of institutions in the furtherance of its charitable objective5.
2024
Divect Grant funded
Charitable
activity
Actbvlties
Support costs
Total
Medical
The Arts and Culture
Educalinn and Welfare
Heritage and Conservation in India
Healthy Ageing
International Humanitarian Affairs
11,307
154,513
84,969
11,307
32,900
-54,060
11,-307
3,506,162
1,727,293
11,307
538,712
994,060
5,003
78,000
3,346,646
1,564,324
505,812
940,000
Governance costs
Adjustme.nt for discount of grant
creditor
59,837
59,837
135,0261
135,0261
142,840
6,-321,756
349,056
6,813,652
2023
Direct Grant funded
Charitable
activity
Activities
Support costs
Total
Medical
The Arts and Culture
Educalion and Welfare
Heritage and Conservation in India
Healthy Ageing
International Humanitarian Affairs
67,500
689,100
1,268,037
18,868
95,909
189,255
10,502
11,617
10,502
86.368
811,313
1,457,292
10,502
20,677
10,502
26,304
9,000
Governance costs
Adjustment for discount of grant
creditor
49,377
49,377
113,1231
113,1231
75,681
2,020,514
336,653
2,432,848
19

THE HELEN HAMIYN TRUST
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
FOR THEYEAR ENDED 31 MARCH 2024
CHARITABLE EXPENDITURE (continued)
The split of support costs and governance costs is show in the table below..
Support Costs
2024
2023
Governance Cosls
2024
2023
Staff costs
Depreciation
Bank charges
Travel
Legal fees
Office renlal and associated costs
Consultancy fees
Accountancy/Professional fees
Office expenses
Sundry
Exchange gain
Audit lees
251,571
1,066
1,337
21,187
8,490
27,638
9,846
7,008
20,189
724
231,592
5,595
1,117
3,961
9,221
32,035
21,594
11,622
18,007
1,909
38,796
36,148
3,242
4,695
2,004
2,729
13,104
8,496
349,056
3_36,6.53
59,8.37
49,.377
Basis of allocation= Salaries, con5ultaricy fee5, marketing, project materials and exchange rate gains and
losse.5 are allocated to the charitahle activity to which they relate. Other support costs attributable to
charitable activities are apportioned pro-rat.I to the value of 8ranls awardpd pre-discounl value180°/ol, and
equally across the main grant making Ciltegories for which support activitie5 havc occurred during the year,
to ieflect the ongoing 5UPPOrt of cxisting grants120'/o1.
ANALYSIS OF GRANTS
Grants to Institutions:
2024
2023
The Arts and Culture
London Symphony Orchestrcl Endowment Trust
British Libarary- HHT Legacy Project
University of Oxford ARCHIOX Project
Royal Opera House, London (Paul Hamlyn Christtnas Treat)
The Factum Foundation London
Associacao Festival da Musica, Setubal, Portugal
V&A Museum
Royal Botanical Gardens, Kew
Internalional National Trusts Orsanisation
LSO Panufnik Futu￿5 concert
The National Portrait Gallery
New Diorama Theatre
Gfants of £3,000 or less
2,500,000
297,479
223,668
150,000
86,900
75,000
4,700
4,325
150,000
78,500
4,700
399,500
40,000
5,000
5,000
6,400
4,574
20

THE HELEN HAMLYN TRUST
NOTES TO THE FINANCIAL STATEMENTS Icontinued)
FOR THE YEAR ENDED 31 MARCH 2024
ANAL YSIS OF CRANTS (continued)
Education & Welfare
Cini Foundation
'Venice Cultural Heritage Centre,
UCL Institute of Education - HH Centre
The Helen Hamlyn Centre for Design at the RCA
Charlered College of Teaching
International Foundation for Research and Education (Ashoka Universityl
British Museum Family trails Reprint
RCA- Creative Leadership in Education
Pitt Rivers Museum - Discover and Create Programtne
The Clement James Centre
Ashmolean Museum- Mughal Indian Miniature Display
University of Oxford Bodleian Libraries
Science Museum - Early years learning
Garsington Opera - Learning and Participation
P.H.O.E.B.E.
English National Opera
Arts at the Old Fire Slation
Animal Antiks
Youth On The Move ILond()nl
Grants of £3,000 or IL'SS
512,000
395,231
250,000
230,591
202,800
90,000
19,713
9,400
4,000
3,520
1168,2821
177,000
72,168
250,000
190,091
312,403
225,000
8,000
7,000
7,000
6,250
3,500
9,625
15,351
Health A
ein
Oxford Institute of Population Ageing EPICS- 2024126
The Spitz Charitahle Trust
Grants of £3,000 or less
505,812
5,000
4,000
International Humanitarian Affai
Fordham University- Helen Hamlyn Humanitarian Fellow
Fordham University- Helen Hamlyn Senior Fellow
World Heart Beat
450,000
450,000
40,000
Herita
e and Con
rvation in India
Medical
Imperial Health Charity
67,500
6,356,782
2,033,637
Discouni for grants payable 2022 > 1
year released
Discount for grants payable 2023 > 1
year
21,539
8,416
156,5651
121,5391
6,321,756
2,020,514
21

THE HELEN HAMLYN TRUST
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 MARCH 2024
EMPLOYEE INFORMATION
2024
2023
Staff costs
Wages and salaries
Wages and salaries - donated
Social security costs
Social security costs - donated
Pension costs
Pension costs - donated
215,755
29,870
25,665
3,620
14,929
528
197,081
27,974
24,740
3,573
13,845
527
290,367
267,740
The average monthly rFumbe¥ of person5 c'mployed by the Trust during ihe year was 2.5 12023.. 2.51. The
above fi8ure5 also include the value of staff time donated by Lady Hamlyn, the average monthly number of
persons during the year being 0.412023 0.41.
ThL'se persons provide support services lo charitable activitios and in respect of governance Isee Note 61.
The numbcr ol omployces whose salary and benefits in kind lell within the followin8 scales is as follows=
2024
Number
2023
Number
£60,000- £70,000
£70,001 £80,000
£80,001 £90,000
£90,001- £100,000
£100,001- £110,000
No Trustee received any remuneration from the Trust during the period.
The group employs two key management personnel= the Director of Projects and Co-ordination, and the
Director of Finance and Administration. The empl()yee benefits (salary and pension contributions) of the
key managemenl personnel o( the charity after rccharges shown above were £221,241 12023: £206,091).
22

THE HELEN HAMLYN TRUST
NOTES TO THE FINANCIAL STATEMENTS Icontinued)
FOR THE YEAR ENDED 31 MARCH 2024
NET INCOMEI(EXPENDITURE)
2024
2023
Net incoming resourc¢Js 15 stated after charging..
Depreciation
Profit on exchange
Auditor's remuneration - Audit fees
Auditor's remuneration - Other services
1,066
5,595
13,104
8,496
10. TAXATION
The Trust is a registered charity, and as such is entitled io certain tax exemptions on income and profits from
investments, 2nd surpluses on any trading activities carried on in furtherance of the Trust s primary objectives, if
these profits and surpluses are applied solely for charitable purposes.
The Trust is not registered for VAT and accordingly all of its expenditure 15 recorded inclusive of any VAT incurred.
TANGIBLE FIXED ASSETS
2024
Other
Equipment
Computer
Equipment
Website
Total
VALUATIONICOST
At l April 2023
Additions
Disposals
32,99.5
7,730
19,240
59,965
At 31 March 2024
7,730
79,240
.59,96.5
DEPRECIATION
At l April 2023
Disposals
Charge year
32,621
6,629
19,240
58,490
374
692
7,066
At 31 March 2024
32,995
7,321
19,240
59,556
NET BOOKVALUE
At Jl March 2024
409
409
At 31 March 2023
374
1,101
1,475
23

THE HELEN HAMLYN TRUST
NOTES TO THE FINANCIAL STATEMENTS Iconlinued)
FOR THE YEAR ENDED 31 MARCH 2024
11.
TANGIBLE FIXED ASSETS (Continued)
2023
Other
Equipment
Computer Website
Equipment
Total
VALUATION/COST
At 1 April 2022
Additions
Disposals
32,995
7,730
19,240
59,965
At 31 March 2023
32,995
7,730
19,240
59,965
DEPRECIATION
At l April 2022
Disposals
Charge for year
32,246
6,219
14,430
52,895
375
410
4,810
5,595
At 31 March 2023
32,621
6,629
19,240
.58,490
NET BOOKVALUE
At 31 March 2023
374
I,ioi
1,475
At 31 March 2022
749
1,511
4,810
7,070
12.
Heritage Assets
In year ended 31 March 2021 the Tfust purchased the Bernard Nevill Colleclion of fabric samples,
sketches and reference materials by this important fabric dc'signer for £1 0,000. During the previous year
and partly in this financial year thL' Collection was professionally reviewed and organi5ed by an archivist
to bring it into a statL' Sultable for charitable USL. The cosls of this work were £8,452 and thL'5e have
been included within the total value of the Collection which is £18,452 as at 31 March 2024 12023:
£18,452).
Professor Bernard Nevill studied and taught at St Martin's College of Art and the Royal College of Art
in London. In 1960 he became consultant designer for Liberty & Co. and he revilalisi,d their traditional
prints, ensuring that they became a major influence on internalional fashion. His Islamic prints, in
particular, introduced Eastern design lo fashion, and other Art Deco-inspired ranges led to a revival of
interest in the Art-Deco peiiod. He also achieved great success designing furnishing fabrics and designs
for the theatre.
24

THE HELEN HAMLYN TRUST
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
FOR THEYEAR ENDED 31 MARCH 2024
2024- Listed
Investments
2023 - Listed
Investments
13.
FIXED ASSET INVESTMENTS
Valuation
Brought forward
Additions
Gift
Disposals
Unrealised revaluation110ssesl18ains
6,002,971
1,254,481
2,950,659
14,359,659)
299,917
6,780,519
356,264
1580,4611
1553,3511
Carried forward
Cash included within investments
6,148,369
3,410,728
6,002,971
588,944
Total Valuations
9,559,097
6,591,915
Net Book Value al 31 March 2023
6,591,915
7,266,532
2024
2023
Historical cost
8,870,681
6,311,914
All investments are held in the UK, managed by LGT Wealth Managemenl IJK LLP and are primarily to provide
an investment return for the charity-
Investments at tnarket value compTOTniscd:
2024
2023
SLW multi asset iTILome fund
Volare IprevioLJsly SLWI non-govt bond
unds
UK fixed interest government bonds
Non-govt and UK corporate bonds
UK Corporate bond funds
Liquidity Funds
Alternatives
4,047,452
331,789
3,769,003
626,992
201,689
193,829
66,590
431,556
915,000
1,032,956
534,484
Cash
3,410,727
588,944
9,559,097
6,591,915
Investments making up 50/0 or more of the Trust's portfolio at 31 March 2024 were as follows..
Voltaire Offshore Sterling Fixed Int Fund Z 10.81°/.
Volare Offshore Income Fund Z Inc 42.24 %
A5 at l O" lune 2024 the net book value of the Trust's portfolio stood at £6,716,300.
25

THE HELEN HAMLYN TRUST
NOTES TO THE FINANCIAI STATEMENTS (Continued)
FOR THE YEAR ENDED 31 MARCH 2024
14.
DEBTORS
2024
2023
Amounts falling due within one year
Trade debtors
Prepayments
4,238
5,807
3,972
5,052
10,045
9,024
15.
CREDITORS: Amounts falling due within
one year
2024
2023
Trade creditors
Holiday pay accrual
11,855
5,300
2,76_3
2,814
Grants payable
Accrua15
OthL'T Lrcditor5
Other tax and social security
5,127,7.38
18,286
1,.503,821
31,214
10,043
7,810
5,173,722
1,548,422
16.
CREDITORS: Amounts falling due
alter more than one year
2024
2023
Grants payable
1,357,570
683,383
Movement in grant commitments
Brought fO￿ard
Released in year
Additional commitments
Discount Adjustment for grants
payable > 1 year
2,187,204
12,023,6521
6,356,782
135,0261
2,005,864
11,839,174)
2,033,637
113,1231
Cairiod fonvard
6,485,308
2,187,204
26

THE HELEN HAMLYN TRUST
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 MARCH 2024
17. FUNDS 2024
Balance at 1 April
2023
Income Expenditure
Transfers
between
fund5
Inveslmenl
Profits/
(losses)
Balance at
31 March
2024
CHARITY
Capital fund
No. l expendable
endowment
723,693
1250,0001
473,693
Income funds
Unrestricted funds
General rcservc
4,443,682 5,246,628 16,839,674)
250,000
299,918 3,400,553
Reslricied lunds
Setubal
Children'5
Instruments
5,458
5,458
5,172,833 5,246,628 16,839,67411
299,918
3,879,704
FUNDS 2023
Balance at 1
April 2022
Income
Expetiditure
Transfers
between
funds
Investment Balance at
Profitsl 31 March
(losses)
2023
CHARITY
Capital fund
No. l expendable
endowment
973,693
1250,0001
723,693
Income funds
Unrestricted funds
General reserve
4,953,922 2,252,292
12,459,181)
250,000
1553,351 } 4,443,682
Restricted funds
Setubal
Children'5
Instruments
5,458
5,458
5,933,073
2,252,292
12,459,18111
1553,3511 5,172,833
27

THE HELEN HAMIYN TRUST
NOTES TO THE FINANCIAL STATEMENTS IContiTrued)
FOR THE YEAR ENDED 31 MARCH 2024
17. FUNDS (continued)
FUNDS ANALYSIS 2024
Unrestricted
funds
Restricted
funds
Expendable
endowment
funds
Total
Tangible fixed a55ets
Heritage assets
Investments
Currcnt 855ets
Liabilities
409
409
18,452
9,08.5,404
827,580
16,530,292)
18,452
9,559,097
833,038
16,530,292)
473,693
5,458
Total funds
3,400,553
5,458
473,693
3,879,704
FUNDS ANALYSIS 2023
Unresttictod
funds
Restricted
funds
Expendable
endowment
funds
Tolal
Tangible fixed assets
Hcritage assets
Investments
Current a_ssets
Liabilities
1,475
18,452
5,868,222
7117,338
12,231,8051
1,475
18,4.52
6,.597,915
792,796
12,231,8051
723,693
5,458
Total funds
4,44.3,682
5,458
723,693
5,172,833
The Trust has one Expendable Endowment Fund-. -
The No.1 Expendable Endowment Fund of £0.474m rp.presents the halance of the donations of investments and cash from
Lady Hamlyn to the Trust made in the years ended Irom .3 l MarLh 2004 to 31 March 2023. The Trustees have discretion
to expend somc or all of the Lapital of the Expendable Endowment Fund in circum51ances which they consider would
justify it, having IL'gard to the need to maintain an appropriate balance betwL￿?n the interests of present and luture
beneficiaries. In 2013 the Truslees a8reed that £0.25m of the Fund should be transferred to Unrestricted funds to meet the
grant of £0.25m for The Helen Hatnlyn CLinlre for Design, Royal College of Art, London. The Trustee5 agreed that any
future grants to The Helen Hamlyn Centre for Design should be met with transfers from the No.1 Expendable
Endowment Fund to Unrestricted fLtnds with the exception of the £1 millioft grant awarded in the year ended 31 March
2022.
Restricted funds
Setubal Children's Instruments- In 2015 Lady Hamlyn indicated that rather than receive gifts from those attending her
birthday paty she would prefer for them to consider making a donation towards providing musical instruments lor the
children of Setubal, Portugal. This restricted fund represents the balance of those donations which will be used over
time to replace musical instruments used by the children of Setubal.
28

THE HELEN HAMLYN TRUST
NOTES TO THE FINANCIAL STATEMENTS (Conlinued)
FOR THE YEAR ENDED 31 MARCH 2024
18. CONTINGENT LIABILITIES
In certain circumslances the Trustees award grants where each instalmerit 15 conditional upon the beneficiary meeting
certain requirements. At each point the award 15 reconsidered and the Trustees confirm that suff icienl progress has
been made in relation to meeting the requiremenLlpreconditions. Accordingly a constructive obligation does not
exist until such confirmation is given.
2024
Balance as al 1
April 2023
Contingenl
liability
created in
year
Confirmed
Balance of
instalments
contingent
in the year liability as at
31 Maich
2024
Royal College of Art
University College London
Royal ope.ra House
Chartered College of Teaching
2,250,000
859,867
300,000
190,091
250,000
395,231
150,000
190,091
2,000,000
464,636
150,000
3,599,958
985,322
2,614,636
19. TRANSACflONS WITH TRUSTEES
In 20241.ady Hamlyn donated the space OCLUPIL¥J by the Helen Hamlyn Trust at 129 Old Church Sireet. The value ol
this donation in kind was calculated at £12,24012023= £12,240) and recognised in the finarkcial statement5.
Travel costs and other expenses incurred by Trustees iri the year totalling £1 0,809 were paid on their behalf or re-
imbursed 12023: £1,7641, of which £0 was in creditors at the year-end 12023- £01. The number of Trustees incurring
expen5cs in the year total led 512023-. 21.
20. RELATED PARTY TRANSACTIONS
Lucy O'Rorke (Director of Projects and Co-ordination), the daughter of one of the Directors, was paid a salary
lincluding benefits) of £90.254 during the year12023= £84,000). This amount was consistent with the role for which
she was employod. Lucy O'RDrkL S husband, Aurelian Koch, was paid £200 in the yoar lor dL'sign work, a fee
consistent with the work undertaken, this transaction was approved by th& Finance 2nd Governance Committee.
Lady Hamlyn's personal assistsnt was Èngaged in Trust matters and a proportional amount of her salary w35 recognised
as a donation in kind. The amount recognised a5 3 donation in kind during this period totals £34,01812023.. £32,075)
and 15 included within employee costs in Note 8 to the accounts. The Trust charges Lady Hamlyn for the use of mobile
phones by Lady Hamlyn and her personal assistant. The amount char8ed to Lady k43mlyn for the above items during
the year was £4,877 of which £1,238 was in debtors at the year-end12023'. £01.
Lord Darzi who is a Trustee of the Trust is also the Paul Hamlyn ChaiT of Sur8ery ai Imperial College London, which 15
a role funded by the Helen Hamlyn Trust, and as described in these accounts Imperial College London is also in receipt
of grant monies for the Hamlyn Centre of which he is Co-director. Imperial College is also in receipt of grant monies
for other agreed projects. As is consislenl with the Trust's conflicts policy he wag not involved in the Trustees, decision
regaTding ihe variation to the 2008 38reement as described elsewhere in these accounts.
29

THE HELEN HAMLYN TRUST
NOTESTOTHE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 MARCH 2024
20. RELATED PARTY TRANSACTIONS (continued)
During the year the Trust awarded a grants to the Chartered College of Teaching and Fordham University as outlined
in note 7 to the accounts. Alison Peacock, a Trustee of the Trusl, is an employee of the Chartered College of Teaching
and Brendan Cahill is an employee of Fordham University. Neither of these Trustees were involved in the decision to
award grants to the orgaDi5ations of which they are employees of and neither benefitted personally from the grants
awarded.
There We￿ no other relaled party transactions in the year.
21. OPERATING LEASES
On 12 June 2021 the Trust entered into an operating lease to occupy an additional office for 8 years (with a break
clause every 2 year5 which has riot been exercisedl, with a rent review after 4 years, the total outstanding commitment5
under this lease agreement are £55,000 over five years.
22. CAPITAL
The Trust is a company limited by guarantee. Each member has undertaken to contributo £1 to the assets of the
company to meet its liabilities il called on to do so. The total amount guaranteed by members at 31 March 2024 is
£1012023- £101.
30