Charlty reglstratlon number 1094935 Company registratlon number 04468139 (England and Wales) HEREFORDSHIRE COMMUNITY FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 HEREFORDSHIRE COMMUNITY FOUNDATION LEGALAND ADMINISTRATIVE INFORMATION Trustees KJHall G J Hu9hes L Hughes A J l Lowther F Myers M8E P P Spens A Davies N Pear¢e-Higg￿s S L De Rohan P C H Thomas M E Lewin EARead R C C Robinson (Appolnled 17 July 2024) {Appoinl&d 23 July 20251 (Appointèd 30 April 20251 Secretary C Frowd CEO B Sullivan Charity number 1094935 Company number 04468139 Reglst8red offlce The Fred 8ulmer Centre Wall Slre8l Her&lord HR4 9HP Audltor Kendall Wadley LLP Grants Lodge 71 Giaham Road Malvern Worcestershire WR14 2JS Bankers CAF Bank 25 Kings Hill Wesl Malling Kent ME19 4JQ HEREFORDSHIRE COMMUNITY FOUNDATION CONTENTS Page Chaimlan's Report TnJ8lees' report Slalemenl of ITuslees' ￿SponSibl1111eS Independent audito￿S report 10-12 Statement ol financial activities 13-14 Balanc9 sheet 15 Slalemenl of cash flows 16 Notes lo the financi81 statements 17-46 HEREFORDSHIRE COMMUNITY FOUNDATION CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 We are pleased lo present the Annual Report and Financial Slalements for the year ended 31st March 2025. Since our founding in 2002, the Herefordshire Community Foundation (HCF) has served as a trusted channel for chariiable giving and impactful grant-making. To date, HCF has proudly awarded £7.802.315 in funding across 4.337 individual grants supporiing grdssroots iniliatives Ihat enrich lives slrenglhen communilies across Herefordshire. A Successful Year of Giving We remain proud to be Herefordshife's leading independenl grdntwrnak8r. In 2024-25, HCF conlinued lo demonstrate strong perfomianee, with £604.247 awarded in grants to communily groups and indivi24. Our grants spanned a wide range - from a £60 award from the HCF Care Fund lor emergency denlislry care for a homeless individual. to £18.000 lo Herefordshife Green Ne￿ork from the Green Oak Fund. In lolal, HCF issued 552 granis, comprising 164 community granls and 388 indlvidual awards. Supporting CartrExp8rienced Parents: Baby Steps One of our proudest achievements Ihis year was Ihe lau￿ of Baby St8ps. an Innovallve programme supportlng care-expeTienced parents and parenls-lo-be (aged 16-25). Thanks lo £150.000 fundlng over three years via UKCF from the CCLA LAMIT Care Leavers Fund - matched by our Iron Fund Baby Sleps is Ihe first inilialive of its kind in Herefordshir8. Led by HCF. it brings together community organisalions and Herefordshlre Council lo 8nsure brighler futures for young families who. by definition.18ck the breadlh of family support which most young famili85 Gan rely on. Household Support Fund.. Easing Ihe COSt￿l-Ll¥1ng Cris18 Parlnering with Ihe Talk Community Team al Herefordshire Counoil. HCF rfislribuled £136,538 from Ihe Household Support Fund. The funding helped 285 households wilh energy costs and essenlial while goods, Support was targetad at elderly residents, people living with disabilities. and low-income families with young ¢hildr&n - those most vulnerable lo rising living costs, The Iron Fund.. Flexible and Far-Reachlng We gralefully acknowledge a generous donation of £1M￿li0n lo the Iron Fund - which has been our flagship programmg for the past eight years. In 2024-25. £70.932 was awarded across 42 grants (compared with £171,340 acr05$ 95 grants in the prevlous yearl- The Iron Fund also supported our Communily Warm Spa¢es inlllalive. helping heat shared spaces. It also provided food provision during winler benefitling 6 proje¢ls across HerefoTdshire. George's Fund: Nurturing Childhood Wèllbeing In 2024, we deliVe￿d the second round of grants from George's Fund, a memorial fvnd honouring the shorl and special life of George Price. Ten grants lotalling £38.476 were awarded to Pfojecls encouraging chiTrJren aged 3-11 years lo connect with nature and build omolional resilience. This fund has been a shining exampl& of how a memori?1 fund can generate benefit from tragedy. Investir¢g in Children's Mentsl Health: The ELSA Programme The Mentsl Health Fund 5UPPOrted the Iralnlng of Emolic￿al Literacy and Support Assistants IELSAS) across 85 primary schools, at a total ci)sl of £24,500. ELSA is a nationally accrediled early inteNenlion programme equipping leaching assistants lo support children's emolional wellbeing. Our goal is lo ensure every primary school in Herefordshire has at least one ELSik HEREFORDSHIRE COMMUNITY FOUNDATION CHAIRMAN'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Emergency Flood Relief for Flood Vlclims Followlng widespread flooding across Herefordshire during the wint￿, we issued 77 awards to affeded households and 3 schools 8nd 1 sports centre lolalling £24,250 through our Emergency R81ief Fund. This compares with 11 awards lotalling £4,237 in the previous year. Andrew Basnett Memorial Fund We were pleased lo work wilh the Basnell family and Her8ford College of Arts (HCA) lo launch Ihe Andrew Basnell Memorlgl Fund. honouring the life and artistry of blacksmith Andrew BasnelL The first award sUPPOrted the Inaugural Andrew Besnelf Inlernalional Blacksmi¢hing Masterclass. aimed al nurturing emerging talent in the field. Hlgh Sherlff Fund.. Strengthening S8fer Communities We were pleasad lo work wlh Hlgh Sherirr, P81ri¢ia Churchward. lo award lèn grants totslllng £30KIOO from the High Sheriff Fund. Established in 2016, the fund supports Inltkgtives that promote law and order, and f051er s8fer communities across Herefordshlre. Healon Legacy We were deeply gr818fiJl for Ihe legacy gift of £250,000 from the estsle of Stuart Michael Healon. In 2012, Mr Healon established Ihe Healon Fund hmlh HCF lo support gcNJd causes in and around Ledbury. Thanks lo h58 gèneroslly. Ihls ￿98cY will ¢onlinue lo benefit communities arxoss Herelordshire lor years to Come. Brldging the Digital Divide To address digital exclusion, HCF distributed 19 laptops lo communlly projects such as Burghill Talk Community Hub and Ledbury Relugee Support. Thèse devices have h&lped reclpienls a￿$S advice, 8ducallon, employment resources and onllne servi¢es. Charily of the Year Racognlllon We were thrilled lo be named Charily ol th& Year 2024 by Herefordshire Means Business. 11 was truly upllfting to receive this recognlknon from our locai busine55 community a leslament to the cotlaboralNe spirit that drives our work. Creating a Lagacy of Giving HCF enables Individuals. families, and I￿sineSseS lo establish named or anonymous Charitab￿ funds tailored to the causes they care about - al far less cost and adminislralion than setting up a standalone charity. We manage everything from vetting and distribution to daiming Gift Aid, making impactful philanthropy simple and efflclenl. We also offer memorial funds that honour loved ones by C￿li￿ulng their legaw through lasting support for local causes. For many. this provides cotnfort and purpose at 8 lime of loss. HEREFORDSHIRE COMMUNITY FOUNDATION CHAIRMAN'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 A Call to HerefoTd5hire Business8s: Join Business for Good We aro particulady keen to grow our Business for Good Fund, whi¢h brings togeiher enterptises of all siz6s - from sol& traders lo multinationals lo collectively drive posilive change across Heréfordshire by each making an equivalent donation commensurate with their size. By pooling donalions. the business communily Supports local proje¢ls and Improves Ihe lives of local people. Gel In touch to leam hu4V your business can be part of this impactful inilialive. ANoté ofThanks l am pleased lo record my thanks lo our dedicated lrnslees and staff for another successful year. l am equally grateful to our partners and granle&s for Iheir commitment to supportin9 our local communitses. Together. we continue lo build a stronger Herefordshlre. Flank M Chairnian Date.. 22 O¢lober 2025 HEREFORDSHIRE COMMUNITY FOUNDATION TRUSTEES, REPORT {INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Iru5tee8 present Ihelr annu81 report and fin8ncl81 statements for the year ended 31 March 2025. The financial slalements have been prepared in accordance with the a¢￿untIng policies set out in note 1 to the ffinancial slalements and comply with the Chariws governing document, the Companie8 Act 2006 and 'Accountlng and R8POrting by Charities.. Sialemenl of Recommended Pradic8 appllcable lo charities preparing their accounts Sn accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Irgland IFRS 1021. {effe¢tive 1 January 20191. Oblectlves and actlvltles The objects for which the Foundation is established are- To promote any charitable wrposes for the benefft of the communlty In the County of Herefordshire and in particular the advancernenl ol educallon. the proteclion of good health both menlal and physlcgl and the rellef of poverly and slckness: To promote other excluslvely charltable purposes In the Unlled Kingdom and elsewhere which are Sn the oplnlon ol the Trustees beneficial lo the public including Ihe community In th¢ County of Hergford3hir8-. To malch the wlshes of donors. corporate or indlvidual, to community needs. to encourage locgl philanthropy for the public benefil. and lo enable donors lo use Ihe resources of the FoundatSon to achlevo mor& 8ffecllve giving; To seek donallons to endowment funds, Indlvldu811y tailored lo the donor's wishes or, for smaller amounts in a pooled endowment fund; To seek donations lo flow-lhrough funds for those who wl$h to See a more immedialo impaGI from their generosity., To enable ils donors to lake full advantage of all exlernal ald lo the seclor Including donation matohlng and gift eid: To e8labll$h Ilnks with the voluntary. business and slalulory sectors in order lo ensure Ihe best posslble use of resour¢es wllhin these secto￿. PubliG B9n?fil The Trustees seek to ensure Ihat the 8Ctivilies of each of the Funds under the umbrella of the Found81ion meet 'Publlc Benefit, lesis in accordance with the following Charity Commission guidance: Know what the Fund was set up to a¢hieve- this is known as the Fund's 'purpose'. Identify how the Fund's purp03e is i￿nell¢l81- thls 13 Ihe 'be￿fil aspect, of public benefit. Know how the Fund's purrA)se benefits the publlc or a Sufficient section of the public- this is the 'public aspect, of public benefit. Identify how the Fund's purpose will be delivered - thls Is known as 'furtherlng' the Cha￿￿5 purpose for Ihe publlc benefit. The Trustees, having ￿VieWed the objeclives and acllvilies of the Foundalion and ils constiluent Fund5 and. having given due consideralion lo Charlty Commlssion guidance above, are satisfied that Ihe Founda1ion buslness is properfy conducted for Ihe'public benefit,. HEREFORDSHIRE COMMUNITY FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Funds The Foundation manages a number of sub-funds Ihat fall into iwo broad categories Endowment and Flow- Ihrough. Alhough all Ihe lunds belon9 to Ihe Foundalion, Ihey are ring4enced and operate sepafalely in accordance wilh Ihe wishes of the donor. Endowment Funds are long-lerm capital funds wilh Ihe aim of increasiig their value by judicious inv&s1ment applying their income lo the ¢haritable purpose of the su￿[Und. Flow-through Funds lend to have a limited life with the goal of dislribuling the whole sum donat6d in accordance with the goals ol the donor. Our approach to fundralsln9 In order lo carry out its activities. the trustees have consKlered Thg Charities {Proleclion and Social Investmenll Act 2016. The charity complies with the Code ol Fundraising Practice. It has received no complaints on fundraising activity and does not undertake fundraising In a way Ihal mighl intrude on any person's privacy or take advantage of vulnerable people. The majority of the charity's fundraising aclivily is derived from grant funding and conlracl opportunities via grant making Ifust. public agencies and prime contractors. 11 does not carry out either directly or through other professional agencies, direct marketing or fa¢e-to-fa¢e approaches to individuals vuln8rable or otherwlse. Achievement$ and perfomiance This was another excepllonal year for Herefordshire Community Foundation. HCF has now distributed nearly £8 million in 18rms of grants awarded since il was established in 2002. In Ihe period 2024-2025 HCF gave out 552 grants. 164 lo charities and 388 10 individual beneficiaries. Financial markets continued lo remain lurbulenl bul the Foundation has benefited from sound inveslment which has resulted in the growlh ol our funds again this year. The Foundalion rernains as a significant benefaclor for Ihe Counly of Herefordshir8. Financlal review Prlncipal fundlng sources Income for endowrnenl fund building comes from donations. Income from donations comblned with dlvldond and interest income 1$ used for grant making. The adminislrallon (unrestricted fund) income comes from a conlribulion from each fund and from unreslricted donations. Investment poli¢y and objectives All endowment capital is invested in the COIF Charities Investment Fund, run by CCLA Investment Management. To quote from their web sile: "CCLA is one of the UK'S largest charity fund managers according lo the latest Chariiy Finance Survey. Managing investments for charities. religious organisations and Ihe public sector is all we do. Based in the Cily of London. with an office in Edinburgh. we are largely owned by our clients funds." Investments conllnue to P8rtorm within or above the guidelines as agreed by the Inveslmenl Committee and sel out in the Foundation's Inv6Stmenl Pollcy. HEREFORDSHIRE COMMUNITY FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Reserves pollcy The total reserves of the charity increased by £1,473,291 10 £9.374,550 from £7,901,259. Restricted funds increased from £369,243 10 £599,264 and EndoMienl luTrJs increased from £7.343,260 to £8,592,914 in Ihe year. The Trustees continue lo seek further funding for markeling and endowment fund dev8lopm8nl activities. The Foundation wms to retaln sufficlenl Iree reserves to provide adequate working capital to lund ils administrellon and fund development aGlivilies for al least slx months. laking Into account commillaj income. The Tru5tee5 are sa115fied that the nel assels ol the Foundation are adequalo lo fulfil the obligations of the Foundation. Free reseN8S Gurrenlly amount lo £156.27912024 - £166,768), the Trustees are satisfied that free reserves are more Ihan suffi¢ienl for a minlmum of six monlhs dèvelopment acliviiies Grantamaking policy HCF supports charities, grassroots communlty groups and social enterprises to make a positive difference in their ¢ommunltle$ All 9rants made musl promote charitable purposes and are award8d In acoydan¢8 with t4CF's charitable aims and oblecllves. Going ¢on¢ern Al the lime of 8pprowng the accounts, Ihe Iru3tee5 have a ￿aSonab￿ expe¢lalion that the Charity ha8 8dequgte resources lo conllnue In operational existence for the foreseeable future. Thus, the trustees conllnue lo adopt the golng Concern basis of accounllng in preparing the accounts. Quallty Accredilation The Foundat1￿ holds the 18tesl Quallly Accreditslion awarded by the UKCF. These 8xactlng slanclards are endorsed by the Charily Commlssion and cover the key èreas of Definition and Governance, Financ8 and Ri8k. Donor S8rvices and Development. Gfanl Making and Communily Engagemenl and Communications. Community Foundations musl hold thls quality accredil8lion lo manage publicly fundod grant programmas. Th& foundallon conlinues lo hold the lalesl Quality Accreditation IQA5). Rl$k management The Iruslees have a duly to identify and review the rlsks lo which the charity is exposed and lo ensure approprlate conlrols affj In pla¢e lo provide reason8ble a55urance agalnsl fvaud and error. The Fund Director has carefully controlled adminlslralion cosls th81 are funded by direct donations and intemal transfers from Ihe indlvidual funds managed. Trustee5 regularly review the rlsk assessment profile, In Ilne with Charity Commisslon recommended guidellnes. HEREFORDSHIRE COMMUNITY FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Plans f¢r future perlod5 The Trustees plan. during the next twelve months. to.. Continue lo make grants lo support local communities for Ihe publlc benefit and in accordance with the wishe5 of donors Seek lo exlend lis Endowmenl and Flow-lhrouth Funds for individuals and corporate givers Raisg the profile of the Foundation in the County Actively encourage local philanlhropy for local benefits Develop a range ol donor ￿ehICleS. designed lo meet the èver-widening range of charitable aims of prospective donors Enable exisllng donois lo achi8v• more effective giving To identify ways and work with smaller business&s who wish to crtale a collective fund Structure. govornanca and managom•nt Governlng document The Charity is conlrolled by its goveming document, a deed of Irust. and constilules a limited company, limited by guarantee, as defined by the Companies Act 2006. Incorporation as a company limiled by guarantee took place on 24th June 2002 and registration as a charily occur￿d on 5th December 2002. Trustees The Iruslees, who are also Ihe directors for the purpose of company law, and who served during tho year and up lo the dale of slgnalure of Ihe financial stalemenls weie= KJHall G J Hughes L Hughos A J l Lowlher F Myers MBE P P Spens SJMWynn ADavies N Pearce-Higgins S L De Rohan P C H Thomas J J E Wilding M E Lewin EARead R C C Robinson {Resigned 6 November 20241 {Resigned 23 October 2024) (Appointed 17 July 20241 (Appointed 23 July 20251 (Appointed 30 April 2025) HEREFORDSHIRE COMMUNITY FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Recwitment and appoinlment of Tru$lees The Board aims lo achieve r6presentallon across the dlfferenl areas of the County; lo malntain a wide range of inleresls wilhin Ihe voluntary and communily seclors and lo ensure Ihat key skills. such as fund developmgnl, financial and legal knowledge, are provided wilhln Ihe Trustee wup. Organlsatlonal structure The Trustee Board is the slr81egic decisionamaking body of the Foundation. It employs a p8rl-Ilme Direclor. who carrles out the day-tTrday management of the Foundalion. Grant pan&ls are established as appropriat6 for the assessmenl of gran15 and their recommendations are submitted io the Board for final approval. At the current stage of development. active partlcipalion by Board members Is required to advance fund development, the webslle and the profile of the Foundation within Herelordshire. The ￿MUneratiOn of key management of the charily Is Sel by the board. Inductlon and tralnlng of new trustees All Trustees a￿ provided wilh an induction lo the work for Ihe FoundatiN and opportunities lo attend Irainlng and development events are provide¢J. Related partiès The Foundation Is affiliated lo and aGknovAedge the support of the United Kingdom Community Foundation IUKCF?. There are occasions when the Foundation is asked lo support a beneficiary of other charilies and may receive funds for managemonl from charitable proje¢ts which a certain member of thg Trustees have an interest. Al all limes these Iransa¢lions are withln scope ol its objects. Audltor In accordance with the cornpany's arlicles, a resolution proposing that Kendall Wadley LLP be rgapp)inled as auditor of the company will be FJUI al a General Meeting. Each of the Iruslees has confiTmed that there is no informalion of which ihey are awaré whlch is relevanl lo the audit, bul of which thè auditor is unaware. They have fijrther confimed Ihal they have lakon appropriala staps lo idgnlify such relevant infomalion and to establish Ihal the auditor is awa￿ of such information. Thi5 report has been prepared havlng take 8dvantage of the small ￿mpanIeS exemptlon In the Companles Act 2006. The IrLlStees' report was approved by the Board of Truslees. F Myers M Trustee 22 Oclober 2025 HEREFORDSHIRE COMMUNITY FOUNDATION STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The Irustees. who are also the directors of Herefordshire Comrnunity Foundation for the purpose of company law. are responsible for pieparing the Truslee5' Report and the financial slatemenls in accordance wllh appllcable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounling Praclicel. Company Law rèquires Ihg truslaes lo prepare financial stalemenls for each financial year which glve a true and falr view of the stale of affalrs ol the Charily and ol the incoming resources and applicalion of resource5, including the income and expandilure, of the chariiable company for that year. In preparing Ihese financial slalemgnls, Ihe Iruslees a￿ requtred lo= - select suilable accounling policies and then apply them consistently: - observe the methods and prin¢iple5 in the Charilles SORP: - make ludgemenls and estimates Ihal aré re￿￿nable and prudenl: and prepare Ihe financial sla18menlS on the goiNJ concern basis unless it Is inappropria16 to presume that tho CharSty will continue in operation. Tha Iruslees are responsible for keeping adequate accounting records that disclosg with feasonable accuracy at any lime the linancial position of the Charily and enable them lo ensure that Ihe financial statements comply with the Companies Act 2006. They are also iesponsible for safeguarding the assets of the Charity and hence for tskin9 reasonable steps for the prevenlion and detection of fraud 8nd other irregularities, HEREFORDSHIRE COMMUNITY FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF HEREFORDSHIRE COMMUNITY FOUNDATION Opinlon We have audited Ihe financial statsments of Herelordshire Communily Foundatlon (the 'Charity'} for the year ended 31 March 2025 whlch comprise the 51atement of financial actlvltles, the balance sheet. the statement of cash flows and notes lo the financial slalemenls, Including Signif￿nt accounting pollcies. The flnanclal reporling framework that has been applled in their preparallon is applicable law and Uniled Klngdom Accounling Sland8rds, Including Flnancial Reporknng Standard 102 Thft Financial Reporting Standarf appticable in (he UK and Republlc of Ir8land (United Kingdom Generally Accepted Accounting Practice). In our opinion, Ihe financial slalemenls- give a true and falr wew of the slate of tho chari18ble coryanls affairs as at 31 M8rch 2025 and of Ils Incoming resources and appllcation of resources, for the year then ended; have been properly prepared In accordance with United Kingdom Generally A¢¢epted Accotsnling Praclic8', and have been prepared in 8ccordance wllh Ihe requirements of the Companies Act 2006. Basls for opinlon We conducled our audlt In accordance with Inlemallonal Stsndards on Audlung IUKI {ISAs IUKII and applicabl8 law. Our re5ponslbililies under Ihose standards are furiher desrrlbed in the Auditorfs ￿Sponsibl11t1eS for Ih6 audit ol the financlal slAlemenls se¢llon of our report. We aTr independent of the Chailly in accordance wllh the ethical requirements that are relevant to our audit of the finan¢lal statements in the UK, including the FRC'S Ethical Standard, an(J w8 have fulfilled OUT olher ethical respor*ibililles in accordance with these requiremenls. We belleve that the audit evidence we have obtained is sufflclenl and appropriate lo provide a basis for our opinion. Conclusions relatlng lo golng concern In auditing the financial slalemenls, we have concludéd Ihal the trustees. use of the golng concem b8515 of accountlng in tho preparation of the financial slalemenls is appropriate. Based on the work we have perfomed, we have nol id8ntlfied any malerlal uncertainties relating to 8V8nts or Condillons that, indivldually or colledively, may cast signiflcanl doubl on the Charlty's ability lo continu8 as a going concem for a period of at leasl twelve months from when Ihe financial sta16menls are authorised for issue. Our responsibllllles and the responsibililles of Ihe Iruslees wlth respect to going concem are described In the relevant seGlion8 of Ihis report. Other Information The other Informatlon comprfses the infomiallon included in the annual report olher than the finamial st8lements and our audilols report Ihereon. The IrLtstees are responsible for the other information contained wilhin the annual report. Our opinion on the financial slalemenls does not cover the olher infoftnalion and we do nol express any fomi of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether th8 other inFormalion is materially inconsislenl wllh Ihe financial statements or our knowledge obtained in the course of the audit, or otherwis$ appears to be Mater￿lIY mlsslaled. If we idenlily guch malerlal inconslstenci85 or apparent material misglalemenls, we are required lo dglemiine whether this gives rise lo a malerol misslatemenl in the financial slalemenls themselves. 11, based on the WO￿ we have perfomied, we conclude that there is a material misstatement of this other infomialion. we ar8 required to report Ihat facL We have nothing to report in this regard. Matters on which we are requlred lo report by excepllon We have nothing to report in respect of the following mallers in re181ion to whith the Charities (A¢￿unIS and Reports) Regu181ions 2008 require us to report lo you il. in our opinion.. the infomialion given in the financial statements is inconsistent in any material respect wilh the trustees, report., Ix sufficient a¢cosJnling recLYds have rK)t been kept: or the financial statements are not in agreement wilh Ihe accounling records., or we have Th)t received all th8 information and explanalions w8 r&quire for our audit. 10- HEREFORDSHIRE COMMUNITY FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HEREFORDSHIRE COMMUNITY FOUNDATION Responsibilitlès of trustees As explained mor8 fully in the statement of trustees. responsibilities. the trustees. who are also the directors of the Charity for the purpose of company law. are responsible for the preparation of the financial slalemenls and for being salisfled that they give a true and lair view. and for such Inlernai control as the ITUStees detemiine 15 necessary to enable the preparation of financial slalemen15 Ihal are free from material misslatemenl. whether due to fraud or error. In preparing the financial slalemenls. the trustees are responsible for assessing the Charily's abllily to continue as a going ¢oncem. disclosing, as applicable. mallers related lo going concern and using the going concern basis ol accounling unless the Iruslees either intend lo liquldale Ihe chafilable company or lo cease operations, or have no rèalistic allemative bul lo do so. Audltor's responsiblllties for the audit of the financlal ststements We have been appoinled as auditor under section 144 of tho Charilie$ Act 2011 and report in accordance with the Act and relevanl regulations made or having effecl Ihereunder. Our objectives a￿ to obtain reasonable assurance about whether ihe financial statements as a Who￿ a￿ free from material misslalemenl. whether due to fraud or error. and lo issue an audilorfs ￿port Ihal include5 our opinion. Reasonable assurance is a high level of assurance but is not a guaranteè that an audit conducted in accordance with ISAS (UK) will always delecl a material misstalemenl wlkn il exists. Misslalements can arise from fraud or ernr and are considered material if. Individually or in the aggrègate. they could reasonably be expected to influence the economic docisions of users taken on the basi5 of Ihese financial sialemenis. The exlenl lo which our procedures are capable of delecling Irregularities. including fraud, Is detalled below. Extgnt lo whlch the audit was considered eapable of detectlng Irregularillgs. in¢ludlng fraud an understanding of the risk assessment process {ineluding the assessment of the risk of fraud) adopted by the Board is obtsined and their allilude lo risk 8scert8ined. an assessment of the sus¢8plibilily to maleria mls-stalement of the ftnanclal slalem&nts as a iesull of management over-ride or fraud is made. It is ensured that the engagemenl team have. collectlvely, the approprlale competence. capabililies and skills lo be involved in ltre assignment, are fully btrefed and undersland Ihe risks Specif￿ lo the charity. Audlt response to rlsks Identlfied As a result of the outcome of our risk revlew.. we establish procgsses lo lesl the outcomes of our assessment which include. a review of Board minutes analytical review, the rel&vanc& and accuracy of gignificanl accounting esllmales, subst8nts.ve testing of significant transactions. work to idenlify unusual or unexpecled accounling enlries including the le51ing of journal entries, infom)ation disclosed In the financial slalemenls is traced to suppnriing documenlalion. In all instances il Is acknowledged that material mis-statements that arise from Iraud may involve deliberalc eoncealmenl or collusSon and are, Ihoiefore, by their very naluie harder to delect than those arising from error. an undèrstanding of th6 legal and regulalory Iramework as applicable lo the charity is oblained logelher with knowledge of the procedures put in place by the charily in order lo comply the same. il is established if there have baen any instances of non.compliance with appllcable laws and regulations. where there are such breaches, a full understanding, including gathering of relevant documentation appertaning to the ovenl is otslained and assessed. It shoulrj be notèd Ihat Auditing standards limit the audii procedures required lo Idei)lily I￿n-￿niP11ance with law5 alld regLi121ions lo enquiry of the directors and olhef managemenl and the ii)speclioii of regtjlalory and legal correspondence. il any. A further description of our responsibilities is available on the Financial Reporting Counpil's website at.. hiips.'Il www.frc.org.uklaudilorsresponsibililles. This description forffs part of oui audilorts report. 11 HEREFORDSHIRE COMMUNITY FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HEREFORDSHIRE COMMUNITY FOUNDATION Use of our ￿port This reporl is made 501ely to the Gharity's Irustees. as a body. in accordance with part 4 of the Charllles (Accounts and Reports) Regulations 2008. Our audlt work has been undertaken so that we might slate lo the charily's Iruslees those matters we are required lo slate to them in an auditoes report and for no other purpose. To the fullest extent permilled by law, we do not accepl or assume responsibility 10 anyone olher than the charlty and the charlty's truslees as a tKJdy. lor our audit work, for this report. or for Ihe opinions we have I￿rned. Sarah Morley 8A (Hons) ACA (Senior Statutory Auditor) for and on bohalf of Kondall Wadley LLP 22 October 2025 Granta Lodge 71 Graham Road Malvem Worceslershlre WR14 2JS Kendall Wadley LLP 15 eligible for appointment as audllor of the Charily by virtue of its &llglbillty for appolnlmenl as auditor of 8 rompany under section 1212 of the Compani8s Act 2006. 12- HEREFORDSHIRE COMMUNITY FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Current financial year Unrestrlcted Re5tri¢ted Endowment funds funds funds 2025 202S 2025 Total Total 2025 2024 Notes Donations and legacies Invoslmenls Olher Income 2.998 4,953 29,023 654,287 3.421 1,668,819 2.326,104 254,153 262,527 29,023 974.409 228.783 43,906 Total income and endowmants 36,974 657.708 1,922.972 2,617.654 1,247,098 Charitable aclivilies 189.524 404.929 199.318 793,771 916,536 Nel galnslllossesl on inv•stm&nts 10 12.214) {348,378} 1350,592) 650.177 Net l•xpendltur¢) l income (152.5501 250.565 1,375.276 1.473,291 980,739 Gross Ifansfers betrtsen funds 12 146.171 (20,549) (125.622) Not movement in funds (6.379) 230,016 1.249,654 1.473,291 980,739 Fund balances at 1 April 2024 188,756 369.243 7,343,260 7.901,259 6,920,520 Fund balan¢es at 31 March 2025 182,377 593,259 8,592,914 9.374.550 7,901.259 13- HEREFORDSHIRE COMMUNITY FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Prior financlal year Unreslrlcted Restricted Endowment nds tunds funds 2024 2024 2024 Total 2024 Nole$ Income and Donations and legaaes Investments Olher income 473.432 8.296 496,977 216,643 974,409 228,783 43.906 3,844 43.906 Total Income and endowmenls 51,750 481,728 713,620 1,247,098 ur Cliarilable aclivllies 168,426 580.208 167,902 916,536 Nel g8lnsl{losses) on investments 10 18,774 631,403 650,177 Net {gXPondlture} l income (116,676) {79,7061 1.177,121 980,739 Gr05s transfers between ftjnds 12 117.801 25,133 {142,934) Net movèmont In funds 1.125 154.573> 1.034,187 980,739 Fund balances at 1 April 2023 187.631 423,816 6.309,073 8,920,520 Fund balances at 31 March 2024 188,756 369,243 7,343.260 7,901,259 14- HEREFORDSHIRE COMMUNITY FOUNDATION BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Flxed assets Intangible assèts Tangible asset$ Investments 13 14 15 22.607 3.491 8.143.569 18,265 3,723 7.218,876 8.169.667 Current assets Slocks Debtors Investments Cash at bank and in hand 7,240,864 17 18 19 1.680 206,636 89.407 605,331 107,610 104,668 1.087,873 1.300.151 903,054 Crèdltors: amounts falling du• withln one yèar 20 {95.268) (242,6591 Not current assets 1.204,883 660.395 Net asset$ 9.374,550 7,901,259 The funds of the Charlty Endowment fund8 Reslricled income fujxls Unreslricted funds 22 23 8,592.914 599.259 182.377 7,343,260 369,243 188.756 9,374.550 7,901,259 Th6 company is enlilled to the exemption from the audit requiremenl contained in 58clion 477 of the Companie8 Act 2006. for the y•¥r ended 31 March 2025. allhough an audit has b8en carried oul under sectlon 144 of the Charities Ac12011. The directors acknowledge their responsibilities lor complying wllh the requlremenls of the Companies Acl 2006 with respect to accounting records and the preparation of financial slalements. The members have not rgquired the company lo oblain an audil of its flw)ancial stalements under Ihe requirements of the Companies Art 2006. for th8 year in question n accordance with section 476. These financial slalemenls have been prepared in accordance with the provisions applicable to compani&s subject lo Ihe small companies regime. The financial slatemenls were approved by the trustees on 22 October 2025 F Myers Trustèe Company registration number 04468139 (England and Wales) 15- HEREFORDSHIRE COMMUNITY FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating 8Ctlvltles Cash generaled from operation$ 28 1,516,097 163.361 Investlng activities Purchase ol inlangible assets Purchase of tangible flxed assets Purchase of Current as58t inv8Stmenls Purchase of fix&d a55el investments Proceeds on dlsposal of fixed assel Investments Investment incom& recdved (4.343) {1,1941 (15.261) (1,483.258) {11,548) {3,066) 189.407) {631.4811 207.974 262,527 260.353 228.783 Not ¢ash used Sn Investing artlvltles (1,033.555) 1246,3661 Net incr8asel(decTeas•) In Cash and cash equivalent$ 482,542 183,0051 Cash and cash equivalents al beginning ol year 605.331 688,336 Cash and cash equivalents at frnd of year 1.087,873 605,331 16- HEREFORDSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policles Charity informatlon Herefordshire Communily Foundation is a private company limited by guarantee incorporated in England and Walas (Company number.. 04468139) and a charity registered with the charity commission in England and Wales (Charity number.. 1094935}. The regi$lered office is The Fred B￿Mer Cenlre, Wall Slreel, Hereford, HR4 9HP. 1.1 A¢¢ountlng convention The financial slalemenls have been prepared in accx>rdanGe with Ihe Charity's Memorandum and Articles of Association. the Companies Act 2006. FRS 102 -The Financial Reporting Slandard applicable in Ihe UK and Republic of Ireland" I"FRS 102") and the Charilies SORP "Accounting and Reporting by Charities-. Slatement of Recommended Practice applicable to tharilies preparing Iheir accounts in accordanGe wlh the Financial Reportlng Standard applicable In Ihg UK and Republic of Ireland IFRS 1021"18ffectlv& 1 January 2019). Th8 Charity is a Public Bcnefil Entity as defined by FRS 102. The financial 51alements are prepared in sterling. which is Ihe funclion81 currency of th8 Charily. Monetary amounts in these financial slalemenls are rounded lo Ihe nearest £. The financial slalemenls have been prepared under ihe historical cost convention. modilied lo include Ihe revaluation of certain lin8ncial instruments al fair value. The principal accounknng pollcies adopted are sel out b&low. 1.2 Golng ¢oncern Al Ihe lime of approving the financfjal slalernenls. Ihe truslees have a reasonable expectalion that the Charity has adequate resources lo ¢ontinue in opgralional existence for the foreseeable future and Ihal there are no material uncertainties about ils ability lo conlinue. Thus Ihe Iruslees conlinue lo adopt the going concern basis ol accounting In prep8rlng the financial slatemenls. 1.3 Charitable funds Unreslricled funds are available for use at the discrellon of Ihe Iruslees In furtherance of Ihelr charllable objectives. Restrlcted funds are sublecl to specific ¢ondilions by donors or 9ranlors as lo how Ihey may be used. The purposes and uses of the restricted funds are sel oul in the notes to Ihe financial slaiemenls. Endowment funds are subject to specific conditions by donors that the capital must be malnlalned by the Charity. 1.4 Incorng Income is recognised when the Charily is legally enlilled to it aftei any perfomiance conditions have been mel, the arnounts can be measured reliably, and il is probable that income will be received. Cash dona15ons are reco9nised on receipt. Other donations are re¢ognised once the Charity h88 been notlflod of the donation. unless performance conditions require deferral of the amount. Income lax recoverable in relation to donations recelved under Gift Aid Of deeds of ￿Venant IS fecognised al the time of the donation, Legacies are recognised on receipt or olhetwise if the Charily has been notified of an impending dislribulion, the amount is known. and receipl is expecled. If the amount is not known, the legacy is Irealed as a contingent asset. 17- HEREFORDSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policles Icontlnued) 1.5 Expenditure Expenditure is Tecognised once there is a legal or constructive obllgallon to transfer economic benefit lo a third party. il 15 probable that a transf8r ol èconomi¢ benefils will be required in settl&menl. and the amount of the obligation can be measured reliabty. Expenditur8 is das8ifi8d by activity- The costs of each activity are made up of the total of dir&1 ¢osls and shared co$ls. including support ¢osts Involved in und8rtaklng each activity. Dlr6cI costs attributable to a slnglo activily are allocAted directly lo that activity. Shared cosls which conlribule to more than one activity and support costs which are not allribulable to a single acliwty are apportioned between those activities on a basls consistent with the use ol resources. Central stsff costs are allocated on th& basis of time spent, and depreciation Gh8rges are allocaled on the portlon of Ihe 853el's use. Grants offered sublect to condllions which have not been met at the year end date are noted ag a commllment bul not accrued 8s expenditure. Grants payable are p8ymenls made lo third parties in Ihe lurtherance of the charltable objects of the Trust. In Ihe Case of an unconditlonal 9Tanl offer this is accrued once tho recipient has been notified. Nollllcallons givo the reciplenl a reasonable expeclalion that they will recgive Ihe one-y8ar or mulli-year grant. Grant awards Ihal are subject lo the recipient fulfillin9 performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfuiniied wndilion attaching lo that grant Is outside of th8 control of the Trust. Provisions For grants are made when Ihe inlenilon lo make a grant has been communicated to the reapient bul there Is unceriainly as lo the liming of Ihe grant or ihe aniounl ol grant payable. 1.6 Intanglble fixed as$¢ts other Ihan goodwlll Intangible assets are recognised al cosl and a￿ $ub8equenlly measured al cosl less acGumulaled amortisalion and accumulated Impairmenl losses. Amortls2tion is recognised so as lo write off the cost or valu81ion of assels less Ihoir residual values over thelr useful lives on the following b8ses: Software 10 years $tr8ighl line 1.7 Tangible Ilxed as8¢t$ Assets cosling more than £150 are ¢api181ised. Tangible fixed ossels are initially measured at cost and subsequently measured at Cost ¢y valuation, nel of depreciation and any impaimienl losses. Depreciation 1$ recognised so as lo write off the cosl ￿ valuation of assets less their re$￿U81 values over Iheir useful Ilves on the following bases.. Fixtures and fittings 4 year5- slrai9hl line The gain or Ioss arising on the disposal of an asset is delermined 8$ the difference belween the sale proceeds an(J the ￿TrYIng value of Ihe asset. and is recognised in the statement of financial actsvsties. 1.8 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding I￿nSaCtiOn costs. and are tsubsequenlly measured al fair value al e&h reporting date. Changes in fair value are recognised in net incomellexpendilurel for the year. Transaction costs are expensed as incurred. 18- HEREFORDSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARGH 2025 Accounting policies {Contlnued) 1.9 Impaimient of flxed assets Al èach reporling end dalè, the Charily reviews the carrying amounts of ils tangible and intangible as5els to determine whether there is any indicakn'on that Ihose assets have suffgred an impairment loss. If any such indication exists, the tecoverable amount ol the assel is estimated in older to determine the exlenl of th impairment loss {rf any). 1.10 Stock Stock consists of donated laptops for distribution lo benefici8ries. Laptops are valued at a ftÈt rate of £84. 1.11 Cash and cash equlvalènts Cash and cash equivalents include eash in hand. deposits held al call with banks and other short-lerm liquid investments with original maturities of thr88 months ￿ less. 1.12 Debtors Trade and other debiors ar& recognised 81 the selllement amount after any trado dls¢ounl offered. Prepayments are valued al the amount Pfepaid net of any trade discounts due. 1.13 Liabllitigs Liabilities are recognlsed when there is an obligation at the balancg Sheet data as a result of a past evanl, it Is probable Ihal a transfer of economic benefit will be required in seitlemenl, and the amount of Ihe selllemenl can be estimatèd reliably. Li8bllilies are reco9nised al the amounl that the charlly anlicipates il will pay lo sellle the debt or the amount il has received as advan¢ed payments for Ihe goods and services il must provide. 1.14 Employ•8 b8neflts The cost of any unused hollday enllllemenl is recognised In the period in whlch the employee's seNiees are received. Tamiinaiion benefits are rewnised immediately as an expense when the Charity Is demonstrably commilled to terminate the employment of an employee or lo sxovide lerminalion benefits. 1.15 Retirement bènefits Payments lo defined contribution reliremenl benefit schemes are char9ed as an expense as Ihoy fall due. 1.16 Flnanelal instruments The ¢harily only has financial assets fin8nci81 liabilities of a kind that qualfy as baslc financial instruments. Basic financial instruments are irutially recognised at transaction value and subsequenlly measured al Iheii selllement value. Critical accounting estimates and Judgements In Ihe applicalion of the Charlty'y accounting policies, the Iruslees are required lo make judgements eslimales and assumptions about the earrying amounl of a5S8ls and liabilities that are not readily appar&nt from olher sources. The eslimalgs and associated assumplions are based on hislorical experience and other lactors that ale considered lo be relevant. Aclual rasults may differ from these e$bmales. The eslimale5 2nd underlying assumplions are reviewed on an ongoing basis. Revisions to accounting eslimales are recognised in the period in which the eslimale is revised where Ihe revision affects only that period, or in Ihe period of the revision and future p8riods where the ievision affects bolh cUr￿n[ an(J futu peritsd5. 19- X ¢pl to oior zs 7J UJ * C* ¢£1 vw O) Z5 CY a) O Lr) 8 8 o ty> (N o IL) rtso In ES ¥J ￿ W HEREFORDSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Other income Unrestricted funds 2025 Total Unrestrlctod funds 2024 Total 202S 2024 Management fees 29,023 29.023 43.906 43,906 29.023 29.023 43,906 43.906 Charitablg actlvltles Resources Resources expend&d expondod on on charitable charltable activitios activities 2025 2024 Notes Staff costs Rent and setvice ¢har9e Postage and stationery Sundry expenses Fees, subs and Irainlng Bank charges Computer runrtI￿ costs Grants pald out Charfs vouGher and donation fees Travel and entertalnlng Event and marketin9 Fund raising expens&8 138,969 2.424 358 1.906 6.313 180 12,250 604.247 1.483 1.650 993 117,431 2,424 263 1,195 5.301 180 10,542 748,110 6.339 203 2.057 29 11 308 361 771,081 894,406 Share of govemance costs (see nole 7) 22,690 22,130 793,771 916,536 Analysis by fund Unrestricled funds Restricied funds Endowment funds 189.524 404,929 199.318 168,426 580,208 167,902 793,771 916,536 21 HEREFORDSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs alloGated lo aclivities Total 2025 Total 2024 Governance rosls 22,6go 22,130 2025 2024 Governan¢¢ costs ¢omprlso: Depreclalion Audit fees Professlonal fees Insurance 1,426 5,580 14,952 732 914 5,220 15,244 752 22.690 22.130 Audit fee8 are for the audit and preparalion of the slalulory finandal stalemenls. Trustees In Ihis or Ihe previous year none ol Ihe Irusle6s lor any persons Connected wilh Ihem} recelved any remuneration or benefits from Ihe Charity durlng the year. None of the truslees were reimbursed expenses in Ihls or the prevlous year. Employees The average monthly number of employees during Ihe year was: 2025 Number 2024 Number Employmenl costs 2025 2024 Wages and salaries Social security costs Other pension costs 131.364 5.597 2.(X18 111,834 3,738 1.859 138,g69 117,431 The Charity considers ils key management personnel comprise the management and admin team. The lot21 amount of employee benefits received by key management personnel was £138,969 (2024 - £117,431). There were no employees whose annual remuneration was rYK)re than £60.OCMJ. -22- HEREFORDSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Net gains on investments Restricted Endowmgnt funds funds general 2025 rotal Restrlctod Endowment funds nds general 2024 Total 2025 2025 2024 2024 Revaluation of investments (2.214) 1348.378) (350.592) 18,774 631,403 850,177 11 Taxation The charity is exempt from laxalM)n on its aclivilies because all 115 incom& is applied for charttable putposos. 12 Transfers Transfers in Ihe year relate lo managewEnt fees for the funds. 13 Intangible flxed assets Software Cost Al 1 April 2024 Additions 18,265 4,342 Al 31 March 2025 22,607 Amortisatlon Al 1 April 2024 and 31 March 2025 Carrylng amount Al 31 March 2025 22,607 Al 31 March 2024 18,265 -23- HEREFORDSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Tanglble fixed assets Flxlures and lltting¥ Cost Al 1 April 2024 Additions 6,522 1,194 At 31 March 2025 7,716 Depreciation Al 1 April 2024 Depreciation charged in the year 2.799 1,426 Al 31 March 2025 4,225 Carrylng amount Al 31 hAarch 2025 3,491 Al 31 March 2024 3,723 15 Flx•d asset inveglments Llsted investments Cost or valuation Al 1 April 2024 Addillons Valuation changes Dispos818 7,218,876 1,483,259 1350.5921 1207.9741 At 31 March 2025 8.143,569 Carylng amount Al 31 March 2025 8,143,569 Al 31 MaToh 2024 7,218,876 16 Flnancial instruments 2025 2024 Carrying amount of financlal assets Instruments mèasured al fair value through profit or loss 8.143,569 7.218,876 24- HEREFORDSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 SloGks 2025 2024 Laptops lo be donated 1,680 18 Debtors 2025 Amounts falling due wlthin one year: 2024 Trade debtors Prepayments and accrued income 8,481 99,129 820 205,816 107,610 206,636 19 Current ass8t investments 2025 2024 1 Year Bond 104,668 89,407 20 Credltors: amounts talling due wlthln one year 2025 2024 Other taxation and social secunly Trade creditors Grants payabl Accrua15 2.372 1,816 78.443 12,637 2,395 1.801 223,655 14,808 95,268 242,659 21 Retlrement benefit $Ghemes 2025 Defined contrlbution schemes 2024 Charge lo profit or loss in respect of defined contitbution schemes 2,008 1,859 The Charity operates a defined contribution pension scheme for all qualifyin9 employees. The assets of the scheme are held separalely from those of the Charity in an independenlly administered fund. O) IXJ 13J r Ir) ¢D ¢0 ¢J tom Cytr a) on ¢ r*) i ￿Coa) ￿ oi rri ffjCYJ LN O tts ¢0 rto (O OJ 131 (ODI r O ¢l¢Off)N LY) ty ¢ry ¢J) 0> to ￿ ￿- ¢0 13) i ¢x> o o) oo* ro ¢L) rfj %x 41 J tr* ¢0 * Tfr a)0 L7) in * p on cj (N ID ¢r) Ir• 7-LUloX ¢D )roo 2a oJoCt7cW Z< XF-(y i< S<> r)< V ￿ U> L>L I 10 c ll)￿ zi ii o) c c X o) J CL E- HEREFORDSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 24 Analysis of net assets between fund5 Unrestricted funds 2025 Restrlcted Endowment funds funds 2025 2025 Total 2025 At 31 March 2025: Intangible fix8d assets Tangible assets Investments Current a8setsl{liabillllgsl 22.607 3.491 22,607 3,491 8,143.569 1,204,883 56,227 543,032 8,087,342 505.572 156,279 182.377 599,259 8,592,914 9,374.550 Unrestricted funds 2024 Restrlcted Endowment funds funds 2024 2024 Total 2024 At 31 March 2024: Intangible fixed assets Tangible assets Investments Currènt asselsJ{liabllilies) 18.265 3.723 18,265 3,723 7,218,878 660,395 141,501 227.742 7,077,375 265.885 166.768 188.756 369,243 7.343,260 7,901,259 25 Operating lease commltfflents At the reporting end dale the Charity had oulslanding commilmenls for future minimum leaso payments under non-cancellable opeialing leases. which fall due as follows.. 2025 2024 Within one year 8elween two and five years 1,848 1.848 1,848 1,848 3.696 26 Related party transactions During the year donations of £1,128.376 (2024: £501.2271 were received from trustees without conditions. There were no other related party transactions in this or the previous year. 27 Analysis ofthanges in net funds The Charity had no material debt during Ihe year. 39- HEREFORDSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 28 Cash generated from operalions 2025 2024 Surplus For the year 1.473,291 980.739 Adjustments for. Investment Income recognised In statemenl of financi81 aclivilies Fair value gains and losses on investments Depreci81ion and impairment of tangible fixed assets 1262.5271 350.592 1.426 1228,7831 1650.1771 914 Movèments in working capllal: DeC￿8$e in slocks Decreasellincroase) in debtors {De¢reaseYincrease in Creditors 1,680 99,026 1147.3911 4,788 1135.601) 191,481 Cash generated Irom operations 1,516,097 163,361 -40- HEREFORDSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 29 Grant Listing ant mo Tota TVYP Weoblgy High School 2 Face Dance Ltd (thiinl Fundir¥J) South Shropshire Youth Forum 717 4.(KJO 5,400 10,117 Iron Fund ECHO Brighifire Creating Futur& Lives- 2 Laptr)ps Ledbury Refugee Support- 5 Laptops Our News Our Views Brain Tumour Support Lancashire T20 Superleague- S Laptops Colwall Community Hub - 2 Laptops Open Arms Kingion - 1 Laptop Burghill Talk Hub - 2 Laptops Bwcle & helmet for an individual Laptop Power Adaptors Delivery & filling of a fridgefreezer for an individual Refugees Resellemenl & Migration- 1 Laptop Laplop & prinler for an individual While goods for an individual Bed & mallre$s lor an individual Funding of Oak Apples for Citiz&nship Awards Herefordshire Veterans Support Herefordshire Council Support Worker- 1 Laptop Mencap Ledbury Community Hub Herefor(Ishire Growing Point {Joinl Funding) Close House Projects Herefordshire Nurture through Nalure Cracked Slipper Exmoor Calvert Trust Make 2nds Count Herefordshire Riding for the Disabled Basement Youlh Trust PCC Orleton Venture Al the Hub Burghill & Tillington Crickèi Club Wye Play Respite Breaks for an Individual Whtte goods for an IndivKlual While goods foi an IndivKlual Hardship funding lo 4 Indiv￿ua1S Returned payments relating to 3 grants 1.0 1,000 168 420 3,000 2.500 420 168 168 297 48 69 1.038 439 333 975 936 84 4,281 2,959 2.800 5.000 3.wo 3.274 2.000 1.232 5,000 5,000 3,000 5,297 7,000 4,070 5,000 1,200 500 740 1,343 {4,996} 70,931 -41- HEREFORDSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 29 Grant Listing (Continued) Becket Bulmer The Green Group PCC Odelon Hereford Cider Museum Quarter 1 Grdnl Hay Casde Trust Flash Theatre Productions Ledbury Communily Hub Hereford Communlly Land Trust Her8ford Cidèr Museum Quarter 2 Grant Hereford Guild of Guides ECHO Hereford Cider Museum Quarter 3 Grant Rolherwas Togelh8r Arts Uplift CIC Ferel PrOdU￿10n$ (Jolnl Funding) 2 Faced Dance Ltd Hereford Cider Museum Quarter 4 Grant 2,600 500 3.g27 2,000 2,500 3.000 850 3.936 1.000 2.000 3,906 1.408 3.725 2,100 1,000 3,897 38,347 Bulrner Gllmour Wye Play Ewyas Harol Memorial Hall 1.000 3,000 4,000 Coneygree Ledbury Food Group 2 Faced Dance Ltd (Joint Fundlng) 750 1,000 1,750 Gl¢n¢ora Eastnor Bowllng Club Hereford Growing Point {Joint Funding) Ayleslone Park Association 2,000 2.000 5CJ) 4,500 Hgrofordshlre Care Fund Fundlng for a Dentlsit Appointment for a homel8ss indlvidual Charlotte Ballard Fund John Maselleld Hlgh School 600 Heaton Fund Herelordshlre Milit8ry FestiV81 {Joinl Funding) Ledbury Community Brass Band 3.000 1,000 4,000 Herefordshire Education Charlty Staunton on Wye School lJoinl FundirrfJl 238 250 250 665 515 995 1.500 Whllecros5 High School (Joint Fu￿lIng) Sl James C of E Primary ScMol (JThnl Funding) Bursary for an Individual 3 Degreez Allsta￿ CIC PT Instruclor Course for 8n Individual Drumsel for Music Studenl (Joinl Funding) -42- HEREFORDSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 29 Grant Llstlng Icontinuedl Bursary for an Individual Fèral Production5 PT Trainer Course for an Individual Kingslone & Thnjxton Primary School Holmer C of E School Burghil CommunityAcademy 750 1.040 650 500 395 500 8,248 Herefordshire College of Herefordshire Collage ofArts New 08signers Arts Exhibition 5,243 5,243 Hergest Fund The Green Group 1.OCNJ 1.000 Hlgh Sh•rlff Fund Houghton Project 3 Degreez CIC EGHO Al Ihe Hub Close House Herefordshire Velerans Support Crimestoppers Hinlon Community Centre Bromyard Food Bank Hereford Cathedral 5,000 2,500 1,500 5,000 5,000 2,500 437 5.000 2,1S2 1,000 30,089 Jack Hughes Fund Courses foT 7 Individuals 1.108 1.108 Joani•s Fund Delivery ol Laptops Delivery of Laptops Side by Side Children Funny Wonders Escape Family Supp(*t Project Rewild CIC The Literacy Piral&s The Ambei Foundation Cambridge Film Trust AJI Change Arts Ltd Creating Future Llves CIC Breadwinners FND Change CIC Crealive Sustainability Lancs T20 Supedeague Connections Bus Piojecl Swansea MusicArt Digital Techresort Communily The Jericho FoundalM)n GCC County Fund The Mix Slowmarket 41 22 2,280 3,500 2,000 3.500 3.000 3,069 2,000 3,500 1.000 1.300 1,000 2,000 1,500 2.000 2,810 3,000 3,000 3,000 2.000 -43- HEREFORDSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 29 Grant Listing {Continued) MyUme Young Carers Peer Producltons Blackburn Youth Zon8 21 Together MAMA Youth Proj'ècl Me 2 Club Sport 4 Life Co8¢h Core Foundation The Ro¢k-Currock Youth Cyde of Lrf8 Mile Rainbow CIC Portsmouth Sailing Trust Safe & Sound Homes The Offshoot Foundalion ROJAArts In this Together 3.612 2.000 3,000 3,000 3,000 3,000 3,000 3,000 3.000 2.500 2.600 3.000 2.000 2,500 2,600 2,500 89,834 Judith 8hrlmpton LNing Painllngs Trust Acorn's Children Hospice 1.500 1,090 2,590 Ri¢hard Bulmer Fund Herafordshire Music Fund Royal National College for the Bllnd Drum5el for Music Sludenl (Joint Funding) 2.816 1,000 1,500 5,316 HCF Artg Fund Feral Produclions (Joint Fundlng) 860 860 Charles & Anna Saundors Staunton on Wye School lJolnt Funding) Family Trust Fund 238 250 250 2,000 500 500 Whllecross High School (Joint Funding) st James CE Primary School (Joint Funding) Herefordshire Military Festival (Joint Funding) Herefordshiro Light Infantry Museum Fairfield Sthoc4 3,738 HCF Sports Fund City of Hereford Swimming Club 1.035 1,035 Wye Vallgy Nationl Landscape Fund Wye Play 1.000 1,000 Emèrgency Flood Appèal Holmer C of E Academy Fund 2,000 2.000 500 500 Eardisland Village Hall Peterchurch Primary School Ross Sports Centre -44- HEREFORDSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 29 Grant Listing (Continued) 77 x Flood Relief Grants 19.250 24,250 George's Fund Fundraising The Cart Shed Marches FaNly Nelwort( Growing Local Riverside Primary School L￿glOWn Outdoor Leaming Orchard Multi-Academy Trust Hereford Nurture through Nalu Hope Support Services Bramplon AbtK)Is C of E School Cullivaling Learning 1.152 4.775 4,326 4.988 3,500 4,140 4,800 3,224 2,688 1,435 4.600 39,628 Knlfo Angel of Hereford Close House Projects Cracked Slipper Company Clehonger Action Nelwork 5,000 3,000 2.801 10,801 Gre&n Oak Fund Leominster in Bloom Herefordshire Green Network Hands up for the Planet New Leaf Sustainab18 Development 730 18,000 422 6,OCrf) 25,152 Communlty Warm Spa¢es Hereford Cily Church Slaunlon on Wye Village Hall Ledbury Community Hub Our Ladrfs Community Hall LEAF The Lion Hub CIC 2,000 1,750 1,500 1,732 500 600 8.082 Household Support Fund 285 grants for fuel & energy Costs & the purchase of while goods to indivtdtsals livlng in fuel povetty. 136.538 136,538 HCF Mental Health Fund ELSA Training for 2 cohc*ts of Teachers from Herefordshire Schools 24,500 24,500 Baby Steps Care Leavers CLD Trust Projecl Management Costs Programme 10.000 1,000 11.112 University of Warwick Project Evaluation Costs Hom￿Start Project Management Costs 22.112 Castle Sychrov Fund Father Hudson's Caritas Herefordshire Military Festival 12.500 1,000 -45- HEREFORDSHIRE COMMUNITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 29 Grant Listing (Contlnuedl Contact Acorns Children'5 Hospice 1,500 1,706 16,706 Herefordshire Military Festlval Website Design 4.800 312 4.0(KJ Intemet Support Costs Project Management Costs 9,112 Andrew Basnett Fund Horeford College of Art5 Bla¢ksmiths Masterclass 3.000 3,000 552 grants gNen oul in lotal 604.247 -46-