THE GRANT FOUNDATION ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 THE GRANT FOUNDATION ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Trustees. Annual Report 4 - 5 Audit Report Statement of Financial Activities Statement of Cashfiows Balance Sheet 9 - 12 Notes to the Accounts THE GRANT FOUNDATION TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their report, together with Ihe accounts ol the Charity (Trust}, for the year ended 31 Decembèr 2023. REFERENCE AND ADMINISTRATIVE INFORMATION Charity reglstration number. 1084915 Re915tered office and operational address= Haddon Hou5ei 38 High Street Amersham, Bucks, HP7 ODJ The T￿Stee5 who Served during the year are as follows:_ G P Grant C A Grant D P Grant S J Grant A L Warner-McLoughlin A S Grant STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Trust was set up by Trust Deed dated 11 September 2000. The Trust is re9lStered with the Charity Commisslon under No 1084915 Recwitment and appolntment of tntstee5 The Trustees seek to ensure that the needs of this group are appropriately reflected through the diversity of the Trustee body. New Trustees may be appointed by the Settlors durin9 their lifetime, or by the suNivor of thèm during his or her lifetime. Page 1 THE GRANT FOUNDATION TRUSTEES ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Risk management The Trustees have examined the major risks that the fvu5t faces and confirm that Systems have been eslablished so that the necessary Steps can be taken to lessen the5p risks. statement of Tru5tee5' Tesponsibilitips The ¢hari*y's Tn4Stees are responsible for the prepaiation of financial statements for each financial year which give a truè and fair view of the Twst's in¢oming rèsources and application of resources durin9 the year and of its state of affairs at the end of the year. In preparlng those financial statements the Trustees should: select suitable accounting policies and then apply them consistently . makè judgements and e5tirnate5 that are reasonable and prudent prepare the financial Statements on the going concern basis unless it is inappropriate to presume that the TNst will Continue in operation The Trustees arv responsible lor keepin9 proper accounting records which disclose with reasonable accuracy at any tlme the linan¢ial position of thÈ Trust and enable them to ensurè that the financial staternents Comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Trust and hence tor taking reasonable Steps for the prevention and detection of fraud and breaches of law and regulations. OBJECTIVES AND ACTIVITIES It 15 the policy of the T￿st to make grant$ to institution5 and iodividuals in accordance with the objects ol the T￿St for charitable causes from funds available for distribution. The object5 for which the charltable Trust was established are to: -Apply funds for such charitable purposes that the Trustees may from time to lime select. - The advancement of the Christian fallh in the UK or overseas. - The advancement of education of children and young people, assisting with the provision of help to socially disadvanta9ed children and youn9 people and 3&SlSting children and young people in financial need to receive support and training. Page 2 THE GRPJNT FOUNDATJON TRUSTEES ANMUAL REPORT {CONTINVEDI FOR THE YEAR ENDED 31 DECEMBER 2023 AUDIT OF THE FINANCIAL STATEMENTS In so far as the trustees are aware: There is nts relevgnt au41it inlorniation of whlch the charftable company's audltor is unaware: #nd the trustees hawè taken all steps that thcy ou9ht to have taken to make them5el¥es aware ol any Televant audlt informatiort and to establish thal the auditor is aware ol that infomialw ACHIEVEMENTS AND PERFORMANCE The Trnst contlnues to provide support for those in needi in accordance with its objects which aTe con5ideTed to be for the public benÈfJt and will continue to do so in the luture. The fw$t••s admlnister the funds direclly. FINANCIAL REVIEIV Prineipal funding sources The majorlty ol thv fund$ are recelved from The Entertainer Ampr5hsm Limitedi company thal foyr of the tru$tee5 are director5 al ard 211 the trustees are shareholdÈrs. The charity doe5 not raise fuTrd5 from the general publtc. Investment policy The Trustees have power to deposit or invest funds En any 134YFul rnar￿er as they shall in their ab501ute di5GTetion think fit and havlng regard to the sultability of the InveytmentS> the need lor divetslllcatlon attd having taken advice frorR rinanciaI pxpert. R•5er¥95 policy Th• Trust9•$ have •stablished a policy wheweby th• unrestricted lumls ar• not ¢ommltted and are >uifJ£ient to rneet any ongoing donat10￿ of whi¢h lhv Trusle¢s are aware and to enabje the trust to achlfrvo Itll objFrtivF in the fDllowiny year. Yhe Trustees revipw thp reserves policy and the level ol re5erve5 from t•me to tim•. Tho 1gvg1 ol Teserve5 held fr•r the current perlod 15 £58423212022 £592,421). The YNstees congider that thls level ol reserw*5 15 3ppYopriale and not èxeessive. Public Betjelil The ttustÈes have Complied with their d￿Y to have reyard to the guidanGQ on publlc bonollt publlshed by the Charity Commlsslon ln exeiEi5111W their powers or dutie FOR A14D,B HAL F TNE TRVSTEES G P Grant Mrs C A Gèa'nt October 2024 Payp 3 THE GRAMf FOUNDATION INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Independent Auditor's Report to the Trustees of The Grant Foundation Opinion We have audrted the financial statements of The Grant FoundatTron (the Trust'l for Ihe year ended 31 December 2023 which cornprise the Statement of Finarcial ActNrties, the Balar￿e Sheet. the Ststement of Cash Flo￿ and notes to the financial slatements, including signTrficanl aCC￿ntIng pdicies. The financial reporttng framewortthat has been applied in their preparab.on Is applicable law and United Kingdom Accounbng Standards, irtluding Financial ReKorting Stsndard 102 The Financial Reporting Standard applicable In the UKand Rew14K of Ire1and{Unrt￿l Kingdom Generalty Accepted Accounting Practice). In our opinion the financial statement5." gThie a tnje and fair view ol the state of the Trusys affairs as at 31 December 2023. and of rts incoming resources and application of resources. induding its inconE and expendrture, for the year Ihen ended,. have been properfy prepared in accordance with Unrted ￿"ngd￿n Generalty Accepted Accounting Pract￿e., and have been prepared in Scu￿dan￿ tIE requirements of the Chariiies Act 2011. Basis for opinion We conducted our audrt in accordan￿ vth Internati(￿al Standards Audiling (UK) {ISAs (UK)) and applicab￿ law. Our responsibilities under those standards are fvrther desc[1b￿ in the auditor responsibilitie5 for the audit of the financial slalemenls secb'on of our report We are independent of the Trusl in acCOrda￿e wrth the ethical requirements that are relevant lo our audit of the financial statements in the UK. including the FRC'S Eth￿al Standard. anol we have ftiffilled our other ethi￿1 re5pons1iH'l￿e5 in accordance wlh these requirements. We believe that the audit evidence have obtained is suffiaent and appropriate lo provide a basis for our opinion_ Conclusions relatlng lo going ¢oncem In audityng Ihe financtal staternents, we have conclude(J that the Tnjstees. use of ihe going concem basis of accounting in the preparation of the financial statements is apFKopriate. Based on the work we have perfomied, we have not Klentffied any matenal uncertaint￿5 relab.ng to events or conditions that, individualty or collectively. rnay cast signthcant doubt on the Trusys abilty lo o)nb"nue as a going concem for a penod of at least elve months from when the financial statements are aLrthorised for is$￿. Our responsibilities and Ihe responsibilities of the Trustees vAih reSp￿t to wing co￿eM are described in the relevant 5ectiDns of this report. Other inforniation The other irrformation comprises the information included in the Trustees, annual rep(xt, other than tt)e finanaal statements and our audrtorf5 report thereon. The Trustees are responsible for the other infomation. ￿r opinion on the finanaal statements dc*s not cover the other infomiation and y￿ do not express any form of assurance cortlu5ion thereon. Our responsi￿.1￿ is to read the other information and. in dcing so: ccfisiderffttherlhe other information is materially inconsistent wTLh the financial statements or our kno¥Medge obtained in the course of the auditor othewse appears to be materialty misstated. l! we ￿enty such materlal IncL￿S1StencieS or apparent material misstatements, we are required lo detemine ￿ether this gives nse to 2 material misstatement in the finarKial ststements themse￿$. If, based on the wod( V￿ have performed, we conclude t￿t there is a material misstatement of this other information. we are required to report that frdct. We have nothing lo report in this regard. Matters on which are required to rewrt by excepti Vve have nothing lo report in respect of the fOll￿.ng matters in relati￿ tothich the Charities (Accounts and ReKK)rtsl Regulations 2008 require us to rewrt lo you If, In our opinion.. the inft)tmatJon gNen in the Trustees. report is IrtC)nsist￿ in any material respect wilh the financial statements., or sufficient accounts'ng records have not been kept., or the financial statements are rK)t in agreement with the accounting records.. or we have not received all the information and expL4nab'ons we require for our audiL Responsibilities of Trustees As explained more fulw in the TrLtstees' res￿SibIliti.es stalement set out on page 2. the Trustees are responsible for the preparation of the financial statements and foT beiThJ sabsfEd that they give a true and fair view. and for such intemal control as the Trustees determine is neTrssary to enable the prepar2tK)n of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the T￿￿tee$ are ￿ponsiblefOr asse&sing the Trusys ability lo continue a5 a going COn￿M, disclosing, as applicable, matters related lo going concern and usiNJ the going Co￿ern basis of accounting unless the Trust&s either intend to liquidate the Twst C￿ to cease operations. or have no realistic altemative but to do so. Auditor ￿SpOnsibl11beS for the audit of the financial slatements We have been appointed as auditor under section 144 of the Clwities Act 2011 and ￿[￿Xt in alr0rdan￿ with the Act and relevant iegulalions made or having effect thereunder. Our obiectNes are to obtain reasonab￿ assurance abJut whether the financial statements as a whole are free from material mis518temenl, whether due to fraud or etTor. and lo issue an audrtor's reFort that includes our o￿nion. Reasonable assurance is a high level of assuran￿, bul is rtDI a guaranlee that an audr( conduded in attC￿dar￿ ￿th ISAS IUKI w711 always delecl a matenal misslatementwhen it exists. MIsstate￿Tts can anse fr¢)m fraud or emr and are considered material rf, individualw or in the aggregate, they could rea8onably be expected to inlluence the econom￿ deasK)ns of user5 tsken on the basis of these financi21 ststemenls. Irregulartties. including fraud, are instances of non-compliance wrth laws arKI regulations. We design pr(￿edureS in line wrth our responsibilities, OLrtlined above. to detect material misstatemerts in respect of irregularities. including fraud. The extent lo which our prccedures are capable of detecting Kregulariks. Ir￿1￿lng fraud is detailed bel￿.. We obtained an unde￿tand1￿j of thè ￿1 arKI regulalory trarrEworks applK3bk lo the Trust the sector in whth rt operates. We detemiined that the following laws regulatK)ns wwe ￿st ￿nI￿ant Chant*s AL# 2011. UK GAAP ar￿ the Dala ProteLlion Act. We obtained an understanding of how theTrust are (rymptylr￿ wth iIM)se legal and reguLgtory framewoTks and m*e eNuiries to thè management ol known or suspeded instsnTrs offra￿1 atKI n0n-ccnwHn￿ wth L¥N5 arKI ryulath)ns. We Corrob0r￿ed our enquine5 through our rEVEW oftsjard minutes. otrEr meeling minutes and rexv ofcurespOThlen￿ wlh wulatory b￿1￿$ We ass*sed tIE suscepbbty of Ihe Tnjsfs fjnanaal stAta￿nIS to mkn.al misstatement induding h¢)w fraud mwJhl (tcui. Audrft procedures FErfomied by the audit team irclud&J. Identifying aThY assessing the contro& manag￿lEnt has in Pla￿ to prevent and detect tra￿.. Understanding howlhose chargÉfJ with ￿V￿￿an￿ consK*red aThJ addressed trE potential foroverr& ol controLs or ottEr inapprrprate irfuertt over ￿ fIrn3r￿￿1 rewlirKJ EX(XXS. Challenging assumpt￿n5 and juthJn*nts made by man&JenEnt in rtsstgnthcant account.ng esb"mates arKI juthJments, Identsfy*￿ and te¥b"ng iwrnal entr￿. In patiwlarjoumal ent￿ wilh w)uwal a￿aUnte0Mb1na￿onS'. and Assessing Ihe extent ofccrfnFAiancevrith the re￿an1 Paws and regubthons. Because of the inherent limitat￿nS of an audit, there is a risk that we Trhill not delect all irregulatitie5, induding those leading to material misstatement in tre financial slatenEnts 0rnon-com￿lan￿wlth regulation. ThL8 risk increases the more Ihatcompliance wrth a law or regulation is removed from the events and transactions reflected in the financwl stslements, as we wll be less like tD become aware of instances of non