CHARITY REGISTRATION NUMBER." 1090297
The Dwyer-Hart Foundation
Unaudited Financial Statements
31 March 2024
H M WILLIAMS
Chartered Certified Accountants
5 Sandy Court
Ashleigh Way
Plymouth
PL7 5JX

The Dwyer-Hart Foundation
Financial Ststements
Year ended 31 March 2024
Page
Trustees, annual report
Independent examiner's report to the trustees
Statement of financial activities
Statement of financial position
Statement of cash flows
Notes to the financial statements

The Dwyer-Hart Foundation
Trustees. Annual Report
Year ended 31 March 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended
31 March 2024.
Chalf s report
The Dwyer Hart foundation. registered charity number 1090297 was formed by a Deed daled 1 Olh
September 2001. The objects of the trust were:
1. The provision of further education, professional tralning or sports training for beneficiaries
preferably living in the Plymouthlsouth Hams area who in the opinion of the trustees would
benefit from financlal assistance unobtainable from other sources and who, in the opinion of
the trustees, have shown exceptional ability or potential, such education and training to take
place in most Gases outside the area.
2, The advancement or furtherance of such charitable purposes or charitable institutions in such
manner and such proportions as the trustee5 may from time to time determine.
3. Consider providing sports or other buildings for younger people or specific endowments to
educatlonal establSshments. All bulldlngs or academlc chalrs should cary the n8me of the
foundatlon.
The Foundation trfes to engage with 6-8 schools in Plymouth and the surrounding area and asks them
to put forward students. usually the recipients of free school meals or 8 6th form bursary. Each
applicant Is interdiewed in June and followed up for final educational plans after exam results in
September. They are awarded a bursary up to £3.000 renewable annually. We are currently funding
sixteen students wilh an annual granl ouuay of £25-30,000.
There are currently nine Trustees elected by the Irustee body. Two have Life terms and the others
each serve a four-year lerm and the trust8es meet at least once a year.
Declan Dwyer (Life)
Susan Dwyer (Life)
John Hart (2021-2025)
Nuala Kalfayan (202&2027)
Candi Hart (2023-2027)
Kleran Dwyer (2021-2025)
David Chudlelgh (2021-2025)
Freddie Kalfayan (202>2027)
Malcolrn Swift (2023-2027)
The foundation has a fund Invested of circa £750,000 and is managed by Rathbones Investment
Management Limited on a medium risk strategy. The Foundations has no debts and minimal
expenses so the trustees are confident it is a viable concern
.LDrf￿.. and signed on behalf of the board of
trustees by:
D Dwyer
Chairperson

The Dwyer-Hart Foundation
Independent Examiner's Report to the Trustees of The Dwyer-Hart Foundation
Year ended 31 March 2024
I report lo the trustees on my examination of the financial statements of The Dwyer-Hart Foundation
('Ihe charity'l for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in
accordance with the requirements of the Charities Act 2011 I'the Act'i.
I report in respect of my examination of the charity's financial statements carried out under section 145
of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given
by the Charity Commission under section 145(5)(b} of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect=
accounting records were not kept in respect of the charity as required by section 130 of the
Act,. or
the financial statements do not accord with those records., or
the financial statements do not comply with the applicable requirements concerning the form
and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008
other than any requirement that the accounts give a 'true and fair, view which is not a matter
considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Independent Examiner
H.M. Williams
5 Sandy Court
Ashleigh Way
Plymouth
PL7 5JX

The Dwyer-Hart Foundation
Statement of Financial Activities
Year ended 31 March 2024
2024
Unrestricted
funds Total funds Total funds
2023
Note
Incorne and endowments
Donations and legacies
Investment income
Other income
28,242
20,361
7,043
28,242
20,361
7,043
26,995
16.362
Total income
55,646
55.646
43,357
Expenditure
Expenditure on raising funds..
Investment management costs
Expenditure on charitable activities
Total expenditure
3,993
28,384
3,993
28,384
3,912
24,277
32,377
32,377
28,189
Nel gains on investments
10
133,591)
{33,5911
Net income and net movement in funds
56,860
56,860
15,168
Re¢on¢iliation of funds
Total funds brought forward
Total funds carried fonvard
728,659
728,659
713,491
785,519
785,519
728.659
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 6 to 12 form part of these financial statements.

The Dwyer-Hart Foundation
Statement of Financial Position
31 March 2024
2024
2023
Note
Fixed assets
Investments
13
771,178
670,027
Current assets
Cash at bank and in hand
16,021
58,632
Creditors: amounts falling due within one year
Net current assets
14
1.680
14,341
58,632
Total assets less current liabilities
785,519
728,659
Net assets
785,519
728,659
Funds of the charity
Unrestricted funds
785,519
728,659
Total charity funds
15
785,519
728,659
These financial statements were approved by the board of trustees and authorised for issue on
and are signed on behalf of the board by..
D Dwyer
Trustee
The notes on pagès 6 to 12 form part of these financial statements.

The Dwyer-Hart Foundation
Statement of Cash Flows
Year ended 31 March 2024
2024
2023
Cash flows from operating activities
Nel income
56,860
15,168
Adjustments for..
Nel gains on inveslments
Dividends, interest and rents from investments
Other interest receivable and similar income
Accrued expenses
Cash generated from operations
(33,591)
(14,589)
{5,7721
1.680
112,9611
13.401)
4,588
11,194)
Interest received
5,772
3,401
Net cash from operating activities
10,360
2,207
Cash flows from investing activities
Dividends, interest and rents from investments
Purchases of other investments
Proceeds from sale of other investments
14,589
1101,151>
33,591
12,961
Nel cash (used inllfrom investing activities
152,971)
12,961
Net (decreaselltncrease in cash and cash equivalents
Cash and Gash equivalents at beginning of year
Cash and cash equivalents at end of year
142,611}
58,632
15,168
16,021
15,168
Thè notès on pages 6 to 12 fomi part of these financial statemants.

The Dwyer-Hart Foundation
Notes to the Financial Statements
Year ended 31 March 2024
General inforniation
The charity is a public benefit entity and a registered charity in England and Wales and is
unincorporated. The address of the principal office is
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (Charities
SORP (FRS 1021) and the Charities Act 2011.
Accounting policies
Basis of preparation
The financial slalemenls have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured al fair
value through income or expenditure.
The financial statements are prepared in sterling, which is Ihe functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accountlng
Unrestricted funds are available for use at the discretion of the Iruslees to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trusl8es for particular future project or
commitment.
Restricted funds are subjected lo restrictions on their expenditure declared by Ihe donor or through
the terms of an appeal, and fall into one of two sub-classes.. reslricled income funds or endowment
funds.

The Dwyer-Hart Foundation
Notes to the Financial Statements (continued)
Year ended 31 March 2024
Accounting policies (¢onllnued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has
passed lo the ¢harity', it is probable that the economic benefits associated with the transaction will
flow to the charity and the amount can be reliably measured. The following specific policies are
applied to particular categories of income..
irscome from donations or grants is recognised when there is evidence of entitlement to the
gift, receipt is probable and its amounl can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is
impractical to measure reliably, in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and services are recognised in the accounts
when received if the value can be reliably measured. No amounts are included for the
Contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted seNice. This is classified as unreslricled funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspent, in which case
it may be regarded as reslricled.
Resources expended
Expendilure is recogni5ed on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fulSy recovered. and is classified under headings of the statement of financial
activities to which it relates..
expenditure on raising funds includes the costs of all fundraising activities. events, non-
charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all cosls incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating lo the governance of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related to raising funds for the charity
nor part of ils expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
allributable to a single activity are allocated directly lo that activity. Shared costs are apportioned
belween the activities they contribute to on a reasonable, justifiable and consistent basis.
Investments
Unlisled equity investments are initially recorded at cost, and subsequently measured at fair value.
If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in
income or expenditure.

The Dwyer-Hart Foundation
Notes to the Financial Statements (continued)
Year ended 31 March 2024
Accounting policies (¢ontlnued)
Investments in associates
Investments in associates accounted for in accordance with the cosl model are recorded at cost
less any accumulated impairment losses.
Investments in associates accounted for in accordance with the fair value model are initially
recorded at the transaction price. At each reporting dale, the investments are measured al fair
value, with changes in fair value taken through income or expenditure. Where il is impracticable to
measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other dislribulions received from the investment are recognised as income without
regard to whether the dislribulions are from accumulated profits of the associate arising before or
after the dale of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are
recorded al cost less any accumulated impairment losses.
Investments in jointly controlled entities accounted for in accordance with the fair value model are
initially recorded at the transaction price. Al each reporting date, the investments are measured at
fair value, with changes in fair value taken through income or expend iture. Where il is impracticable
to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without
regard to whether the distributions are from accumulated profits of the joint venture arising before
cr after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with Ihe recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the Puf poses of impairment testing. when il is not possible to estimate the recoverable amount
of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit
to which the asset belongs. The cash-generating unil is the smallest identifiable group of assets
that includes Ihe asset and generates cash inflows that largely independent of Ihe cash inflows
from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the
acquisition dale, allocated to each of the Cash-generaling units that are expected to benefit from
the synergies of the combination, irrespective of whether other asse15 or liabilities of the charity
are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the
contraclual provisions of the instrument.

The Dwyer-Hart Foundation
Notes to the Financial Statements (continuedj
Year ended 31 March 2024
Accounting policies (continued)
Financial instruments (continued)
Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration
expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured
reliably, the investment is subsequenlly measured at fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at
cost less impairment.
Other financial instruments, including derivatives, are initially recognised al fair value, unless
payment for an asset is delerred beyond normal business terms or financed at a rate of interest
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted al a market rate of interest for a similar debt instrument.
other financial instruments are subsequently measured at fair value, with any changes recognised
in the statement of financial activities, with the exception of hedging instruments in a designated
hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence
of impairment at the end of each reporting date. If there is objective evidence of impairment, an
impairment loss is recognised under the appropriate heading in the statement of financial activities
in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually
significant, these are assessed individually for impairment. Other financial assets are either
assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately. to the extent that the reversal does nol
result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been recognised.
Donations and legacies
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Donations
Donations
Gift Aid
72
28,170
72
28.170
26,995
26.995
28,242
28.242
26,995
26.995

The Dwyer-Hart Foundation
Notes to the Financial Statements (continued)
Year ended 31 March 2024
Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Income from listed investments
Interest Receivable
14,589
5,772
14,589
5,772
12,961
3,401
12,961
3,401
20,361
20,361
16,362
16,362
Other income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
HMRC Tax Relief Payment
7.043
7,043
Investment management costs
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Portfolio management
3,993
3,993
3,912
3,912
Expenditure on charitable activities by fund type
Unrestricted Total Funds Unreslricled Total Funds
Funds
2024
Funds
2023
Grant Payments
Support costs
26.000
2,384
26,000
2,384
23,564
713
23,564
713
28,384
28,384
24,277
24,277
Expenditure on charitable activities by activity type
Activities
undertaken
directly Support costs
Total funds
2024
Total fund
2023
Granl Payments
26,000
2,384
28,384
24,277
10. Net gains on investments
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Gainsl{losses} on listed investments
33,591
33,591
11. Staff costs
10

The Dwyer-Hart Foundation
Notes to the Financial Statements fconrinued)
Year ended 31 March 2024
11. Staff costs (continued)
The average head count of employees during the year was Nil12023'. Nil).
No employee received employee benefits of more than £60,000 during the year {2023'. Nill.
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were
received by the trustees.
13. Investments
Listed
investments
Cost or valuation
Al 1 April 2023
Additions
670,027
101,151
At 31 March 2024
771,178
Impalrment
At 1 April 2023 and 31 March 2024
Carrying amount
At 31 March 2024
771,178
Al 31 March 2023
670,027
All investments shown above are held at valuation.
14. Creditors: amounts falling due within one year
2024
2023
Accruals and deferred income
1,680

The Dwyer-Hart Foundation
Notes to the Financial Statements (continuedj
Year ended 31 March 2024
15. Analysis of charitable funds
Unrestricted funds
At
Gains and 31 March 202
losses
At
1 April 2023
Income Expenditure
General funds
728,659
55,646
132.3771
33,591
785,519
At
Gains and 31 March 202
losses
At
l April 2022
Income Expenditure
General funds
713,491
43,357
128,189)
728.659
16. Analysis of changes In net debt
At
At 1 Apr 2023 Cash flows 31 Mar 2024
Cash at bank and in hand
58,632
(42.611)
16.021
12