The Hintze Family Charitable Foundation
Report and Financial Statements
Foi. the year ended J l Deceinbei. 2020
Registered with the Clidrity Commissioii
Charity No.. 1101842

Tlje Ilintze bsmily C'harit4bl¢ Found8tiott
Rcptsrt finaiieial statements foi. the yeai. elided 31 Deetmb¢i' 2020
Contents
Page:
Reference and administrative inf(Jrn)at(()n
Repoit of the Trustees
Repoil of (he indepetjdent duditor
Statciment of fjnancial activitie5
10
Balance sheet
Statenient of cash l]ows
12- 18
Notcs foiming part of the finan¢iAI statements

Tlie Ilintze b-Aniily ChAt'ilable Foiindalion
Report finsncial stAteineiits for tlje yeai. ended 31 December 2ts20
Refeien¢.e and administrative informalinn
Ti'llstees
Sir MiLhael Hit]tLe
Sij. Mi¢hael Peat li"eappointed 20th January 20201
Duncan J3axt¢T
Ch5ef Exeeutlve
Lady {Dorothyl Hintze
cli81.ity Number
1101842
S¢cr¢t8ry
Kate Rees-Dolierty (resigned 6 January 20211
Gemnla Rooney (appoinred on 6 Janwdry 2021)
He2dqu#irters
4, 1.'loor
One Strai)d
Londoii
WC2N SHR
Baiikers
C Hoaie& Co
37 1,-Icct Strect
l.ondon
EC4P 4DQ
Credii Suisse {Channel Islands) Limiled
PO Ilox 368
St Petei" Port QTuernsey
Channel Islands
GYI 3YJ

Tlie Hiiitze Faniily CIIAriluble Fouiidatioii
Repot't of the I'Yustee5 foi. tlie year ended 31 Detembei. 2020
'I'he'l'rustces present their report togetlicr witli the fjnantial %tstenient% of tl)e Foundation for die year ended 31
December 2020. The financial 8tateillent8 have bccn prep￿rd ill accordancc with thc accounting policies set out
in note I to the fiiiancial stateinents and coinply with the Charities Act 2011, and Accounting and Reportiiig by
ClwiLies.- Statement of Recoinmended Practice applicable to chai'ities prepai'in8 tlieir a¢eounts in a¢cL)rdai)¢e
witli the Finatt¢ial RepOil￿n8 Standai'd appli¢able in the UK an(t Republi¢ of Ireland (FRS 1021 (effective I
January 2015).
.StructureJ govei'll#Nce and In#uage￿¢￿t
The Hintze Famly Char￿table Foundation is constituted under a trust deed dated 23 Decembcr 2003 and is
registered witli Ihe Cliarity CoJn17]ission foi. England and Wales undej. chai'ity no. l 101842 willi effect from 30
J￿Udry 2004. The Follnddtion is based in the UK with its office irt London.
'riie power to appoint iiew -fru5tees rests with tlic Iloai'd of Trustees. 'I'lic '[ rust r)eed requires tliere to be a
minimum of thiEe Trustees appointed at any one time. On appointment, tlie admini.%trative and management
proc&%ses af the Foundation are explained to the neiv iru81ee, Apart frnm the fr)￿ding riusret, ¢a¢h trustee must
retire from his or hei. position Hft¢r three years. but tnay be re-elected.
'17ie 'lrustees are Irquired to liold at least two ordinai'y meetijigs duriiig tlie ycar. I}￿te trustee Jneeti#gs were
held during 2020. At these meelings, the Ti'ustees agree tlie broad stiategy and aiEa5 of activity for the
Foundation. includiiig grant niaking, investment, reserve%. ri%k managenient p()licio% and perfonllancc.
No trustee reMun￿￿tIon is paid and no tnjstee expeijses were paid during 2020. Related party transa¢iions are
dis¢losed iii note I l io tlie fjiiancial stateinents. Trustees are Tequii'ed io dis¢lose all relevai)t interests and
regist¢i" tlieiD Wjtli tlie Chief Executive aiid, in accoidaiice witli th¢ FtsundatiOii'5 policy. witl)dt'&w from
decisioiis wliere a conflict of inteyest aJ'i5es.
The day-ta-day administration of the Foundation is delegated to the c.hief F.xecutive and the Secretary.
Dorotliy, Lady Hinize was il)e Cl)ief Exe¢uiive of the Foundation throutshoul the yeai.. The Foundation employs
no other staff. The sej'vices of the Foundation's secretary at]d accountancy and administrative suppon are
provided by CQS (UK) LLP and CQS Jersey Linitted (together 'LQS"). 'I'he l i'uslees agi'eed wtili CQS tliat
such stJWiLes sljould be eli￿.ged li'om 6 April 2019 Onw￿.d5 l&n prior Y￿l"s, C.QS did not Ghai'ge tor such
seTViC&%). 8ervi¢e agieements were executed by C.QS and the Tru8te&% in 2020 coiifiTrning the coiniiiei'cial
arrangdnent.
Collstitution and objectiv
The principal objectives of the Foundation are, for the public benefit..
to advance education by supporting Schools, colleges aIid universities.,
to siippoit JllLiseums, libi'aries and art galleries and in pai1iculai' to proimote access for the general public
to works of artistic. sciciitifIc, historic, arcliiteciu121 or cultural importance.
to support the Chi'istian faith and institutiOMS'
to reli¢v¢ sicl<ness and pi'otect and preserve publi¢ health thTough pi'oject5 to bcllcfit thc sick and
tellkninally ill. and
to funhei. such other purposes which are ¢hari18ble in a￿ordanCe witli the laws of Enaland and Wale5 as
the Trustees think fEI provided ihat in so doijig tlie charity sliall not Telieve any local audiority or other
body fi'oiii its ststutoi'y obltgatiojis.

Tlie Hitt17.e family ChJiitAblt b'oundation
Report of Éhe Ti'ustee5 for tlie Y￿1. eaided 31 Deeembei- 2020 Itoiitirjued)
Gi*￿t making policy
The Fuundation invites applications for grants from Charities which further the objectives of thc Foundation.
No specifjc foi'ma( is required for applications. Applicationb alld potential donations identified by the Chief
Lxecutive dzjd tlie Ti"ustees ale consideird at Trustees, meetings and belween tneetings.
Review of Attivities foi. the publi¢ benefit
Tlie Trusiees liave paid due re(Fai'd to tlie Charity Cominis5ion's guidancc on Public Benefit in de¢idino
a¢tivilies the Foundation should undertake. Tlie T￿Stee5 are satisfied that the Foundation met its obj£ctivcs
dui'iiig il)¢ period.
The Foundation doe5 not ur2dert&ke aiiy fund-raising activities aiid iiiakes grants tts Ine¢t its charitable
objectives from unsolicited donations and from its investinents.
During the period tlie Foundation pledged £690,152 (2019.. £3,958.852). Donations of £50,000 or more were
pledged to the following ¢har%ti¢s.
Edu
1) £50,000 {one-off donation) lo FW de Klerk Foundation.
21 £132.109 (AUD50,000 pcr annuni over five years) to the Minderoo l.'oundation.
31 £150.000 {p&yable over 3 years) to the Instiiute of Economic Affairs Lil￿ted.
4) £125,000 {payable over 5 years) to the University of Oxfoi'd Developmeni Trusi Fund.
cul￿ra]lArtS
5) £50.OIK) (one-off donation) to the British Council.
Arnied Services
6) £120,000 (one-off donation) to the Royal Navy and Royal Mai'ines Charity
Flealth
7) £50.000 (￿yable over 3 years) to Royal Brompton and Harefield Hospitals Charity.
8) £80,709 (USDIOO,000 one-utTdonation) to YouB¢long.
Finau¢ial review i'eserves investmeml stigte
Duiing the year the Foundation distributed donatioii% of £4,508,098 (2019.. £3,999,797), of which £4,154,104
{2019'. £2,977,139) was Committed in pi'evious years. At ycar en4 the Fi)undation was coininitted to
£4.613,035 (2019.. £8,214,108) of donations over ihe Jiext 12 years.
Total support tosls were £35,203 {2019.. £246,051) during (he year and predominately relare to siaff and
admiiii5tTatinii charge.%, along witli foreign excliaijge gains aiid losses not directly atti'ibutable to pledges.

'I'lie Hintze b-2mily Chai'itable FouDdaliaii
Report of tlie'l'ru.$tees foi. the yeai. eRded 31 Dtceinbci. 2020 (coTrtTnutd)
Investment strategy
The investnient strategy takes into acwunt the incume requirements of the Foundation while tn&ximising,
within the Foundation's Jisk approacl). returns for future donations.
Tlie Foundation has inve5tmenL% in tlie ("QS Credit Multi Assct and Direetioiial Opportunities Funds, as wcll
as investmcnts in Austialian ix)nds. 'Ilie combined valiie of all investments was £4,85.3,909 12019..
£6,019,243).
Under the Ti'ust Deed a TTUSt¢e musi absent himself or herself fi'orn any disLll&sions of IlJe Trustees in which
it is posgible d12t a conflict will ai'ise belween his 01. Iier duty to act solely in the interests of Ihe Foundation
and any P¢T50nal interest {incliidin8 but not limtted to any peiEonal financial intei'cst). Regardsng the
iiivestments in the C.Q.S fuiids. by virtue of hi8 ultiinate beneficial owneiship of the CQS group. Sir Michael
Hintze duly disclosed li]5 lllterest and ¢x¢luded himself frnm all discu&%ion8 and decisions in rclation to the
irtv¢s¢imentq. Aftei. care￿1 consideration the fund5 weTe considered the best investment option by the odiei.
Trustees, in Comparison to otliei. options available, in terms of perfoi'niancq risk, CUTreEi¢y. liquidity aiid
suitabiliLy itj Jelatiun to the Foundation's pledges &nd creditor obligalions in line witl? the boundation'5
appi'oved procedures.
'Ihe foundation makes distribution.s in accordanee with its grant making policy. Further details of
invcstments may be found in note 8 to the finaneial statements.
The Trustees review the Foundation's invests?ienls on a regular basis artd remain of the view thal over the
Jnediuiii temi tl)e portfolio will provide a satisfactory re￿rn.
'Ihere are no restrictions on the Foundatioii's poiver to inv£8t.
Reseiwes policy
As at 31 December 2020 the Foiind&tion had Ir5¢rves ot. £1.020,320 (2019.. £364,206) held as uttrestricted
funds. Tl)e rtservcs provide a pool of fuiid5 to support futuie pledge5. The TTUStees do not sct a targct level
foi. res￿￿¢5,. but Irview them regularly to ensuiE that iEsourccs grc &vaElablc to cover pledges.
Risk manxgtment
The Trusiees identify and review ihe tiiajor risks wliich tlie Foundation faces on a regular basis and are
satisfjed t￿￿t 5y5tenis and pToceduie5 are in p12ce to manage those risks.
.8t2tement of policy on fundi'aising
Tlie Tn￿teeS do not undeitake any fundraising aciivities, althovgh they can accept offers to donate. Tl
Trubtees in¢lude any slld) donations in tlie accounts a5"volvntary income" logeihei" witli dona¢ions made by
trustees. The Trustees do tjot use prolessioiial fvndraisers 01 CoJ￿nerCiaI paiticipator5' 01. indeed aiiy third
parties to solicit donatinn%.'Flie Trustees art tlicitforc not subject to any regulatory scheme or relevant codes
of pra¢tiee, nor have tliey rcccived any complaints in relation to fundrnising activities iior do the Trustee8
considcr it necessary to de8ign.%pecific proceduiu to monitor sucli activities.
Future plans
The Tru51ee5 plan to continue to make dtstributions in accordance witli their gi'ant making policy and to
ensure tliat an appi'opTiate level of reserves is maintained.

The HIDtze FAmily Ch#ritabk Foundation
Report of the Trllstees for the year ended 31 December 21120 (continued)
Trus¢¢¢s' ¥esponslbilities in relation to the fjnanelal statsments
The Trustees are irsponsibl¢ for preparing the annual report and the financial statements in accordance with
applicable law and regulations.
Charity law requires the Trustees to prep￿* financial stal¢n)cnls for each financial ye8J' in a¢¢ordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 10 July
2014, the Chariti¢s Act 2011 and UK G¢n¢JMlly Accepted A￿OUnting Practice as it applies from l January
2015. Under charity law the Trustees must not approve the fin4)ncia151atem¢nts unless they are satisfied that
they give a true and fair view of the state of affairs of the Foundation and of the incoming resources and
application of resourees. including the income and ¢xEKnditure, of the Found￿70￿ forthat period.
In p￿parIng these finan¢ial statements, the T￿￿te¢S are required to..
5¢1ect suitable ￿CountIng policies and then apply them consistently
observe the methods and principles in the Charities SORP.
make judgements and a￿untIng estimates that are reasonable and prudent.
state whether applicable UK A¢eoiinting St￿dards have been followed. subject to any material
departures disclosed and explained in the financial statements.
prepare the fin8n¢ial stat¢m¢nls on the going ¢on¢ern basis unless it is inappropriate to assume that the
harity will continue in business.
The Trustees are resp)nsible for keeping adequate ac¢ounling ruords ihat are sufficienl lo show and explain
the Foundation's Iransa¢tion$ and disclose with reasonable accuracy at any time the financial position of the
Foundation and enable them to ensuiE that the financial statements comply with ihe Charities Act 2011.
They are also responsible for safeguarding the assets of the Foundation and hence for taking r¢asonabl¢ 5t¢P5
for the prevention and detection of fi?ud and oth¢i' irregularities.
Appmved by th¢ Trust¢¢s on th¢ 20th August
and signed o
heir behalf by:
Sir Michael Hintze
Trustee
Sir Michael Peat
Trustee

Tlie Hithtie Family Chai'ilablÈ FoundatRoti
Report of tlie indepeDdeDt auditois 2020
INDEIIENDLNI. AUDITOR'S Rb'PORT 'fo TIIE MEMBERS OF I'HF HINI'/.b: F'AMtLY
C.IIAIiI'I'ABLE fioUNDATION
opin￿0￿
We liave audited the financial slatements of Tlie Flintze Faiiiily CliariÉable Foundation {tlie 'cliai'ity') for the
y¢ai' ended .31 December 2020 which Comprise the slatetnent of fjnancial activities, thc balance shcet, thc casli
flow statcment wid not&% to the fin8n¢ial %tateineiiLq, Incl￿ding a summary of significant accollnting policies.
The financial IEP)Iting framcwork that has been applied in their prepardtion is applicable law and United
Kingdom Accounting Standards. including Financial Reporting Standard 102 The Filla￿cIaL Repop'litsg SiandoF.d
applicable IF7 ihe UKandRepiibli¢ ofJirlondlUniled Kin8dorn (ienaxlly Accepted Accounting Practtcel.
In oui. opitjion, the financial statenients..
give a true aiid fair view of tlie 4tate of tlie cliarity's affaii's as at 31 Decembcr 2020 and of its incomin8
resoui'ces and application of r&wui¢es for tlie year th¢n cndcd;
liave heen propei'ly prepared in aceordance with United ICin8dorn Generally Accepted Accounting
PractL¢e: aiid
liave been prepared in accoi'dance with thc irquirements of the Charities Act 2011.
Basi.$ for opinion
We conducted oui. audit in accordance with Iii¢eniational St&)dards on AudititJ2 (UK) IISAS (UK)) and
applicable law. Our responsibilitie5 ujider ihose standai'ds are furtlier described In die A￿ditOr'S respotjsibilities
foi- tlie audit Df tlie fin￿le1a1 statements sectioii of oui. report. We are iiidependent of tlie cliarity iii accordance
with the ethical Tequiiements that al-e i'elevant to our audit of the financial stateinent8 in the IJK, including the
I.'RC.'s I'.thical .8tandard. and w¢ have fulfilled aur other ethieal rcsponsibilitics in accordance with thcse
iequirements. We bclieve tl)at the audit evidence we have obtained is sufficiet)t and appropriate to provide a
basis for our opinion.
c0ntlusio￿S relAtillg to going concei
Iii auditing tlie financial stalemeiits, we have concluded that the trustees, use of the going conttrn basi$ of
accounting in the preparation of thc financial statemertts is approprEAte.
Bascd on the work we have peTfomied. we have not identified wiy materI81 ￿ncert￿ntieS relating to events or
¢onditions ihat, indtvEdually or colltctively. Last signif&cant doubt on the ¢harily'S ability to conlini￿ as a
going ¢on¢em f(¥r a period ofat le2St iwelve niontlis froiii wlien the financial sÈalemen15 air aiithortsed for issiie.
Our rcspon%ibilities and the responsibilitie% of the tru.%tees with respc¢t to going eon¢¢rn arc describcd in the
relevartt sectlOl18 of thi.s rew)It.
Oth¢r informatio
The otlier inforination conipri5es the information included in tlie annual report oilier than the finartcial
5tstements and our auditor's report Ihereon. 'I'he trustees al'e respotisible foj. the other inforniation Co￿lt￿lnCd
witliiji tlie annual report. Our L)piiiIon on the financial statements does nat cover the i)ther infnymation and,
except to the extent othei'wise cxplicitly stated in oiii. report, we do not ¢xpress any fomi of assuKanc¢
¢on¢lusion ihereon. Our responsibility is to IEad tlie other informatiom and, in doiiig so. consider whether the
other infoTll)aiion is niatrrially inconsistent with t]ie fjnancial statements OT our knowledge obtained in the
coiirse of the Riidit or vtheiwise appears io be maiei'ially mtsstdted. If we identify sucli Jnaterial ￿nconSiStenc1eS
or apparent matei'ial Jiii55tateJnents, we ￿¢ TequiT¢d to deterniine wheilier tliis gives rise to a tndtvrial
lilj5Stateinent in the linzntial slateinents tliemselves. If, based on tlie woi'k we have perfoijned, we Conclude that
tlicre 15 a material niisslatcmeiit of tlit% (Trther ijiformation, we air Tcquired to rcport tliat fact.
We have nothing to report in this rcgard.

Tlje Hintze Family Cliai'ilable Foundatioll
Stat¢meDt of Fin&neial Activities foi. tlie yeai. ended 31 December 2020
Matters which we Are require(I to ieporl by exetptio
We have notliing to report in ic5PeCt of the followino mattci's in i¢latiort to which tlie ChaTjties (Accounts and
Reports) Regulations 2008 require us to rcport to you if. in our opinion:
Ihe infomiation given in the trustees, report is illCOtlSE5tet)i iji any material respect with the fjnancial
stateJn¢iits' OT
sutYiciei)t aecountiiig I'ecords have not been kept; or
tlie financial staien)ents are not in agreement with the 2CCOUliting records aIid returjis. oi.
we have not received all the infoniiaiion and explanations we require for our aLxlit.
Responsibilities of trustees
As explained more fully in the trustet5' rtt%ponsibilities statement sec oui oli page 5, the trustees are respot]sible
for the pi"epdrdlion of the financial statements and foj. being satisfied that they give a ts'ue and laii. view, and for
such internal control as the ti'ustees determitie is necessai'y io enable the preparation of fJJiaJicial stateiiients that
al'e free froin inaterial Jiii5Staknnent, whetlier due tcj fraud or eiTOI'.
In Preparing the financial statement% the trustees arc responsible for 8S5essÈnts the cliarity's ability to ¢ontiiiue
a going conccm, disclosing. as appli(xble, matters i'e12ted to going conceTr'n and using the goinu concei'n basis of
accounting unless the trllstees either In￿nd ￿ liquidate the charity or to Lease operations, or have no realistic
alternative bul lo do 50.
AudTtoY'.S If5ponsibilities foi. the 8udit of the financial st%tteThent.s
We Iiave been appoiiited as auditoi. under section 144 of the Charities Act 2011 and ieport tn accordance with
tl)e Act aiid relevant IEgulations made 01.112vi&ig effect tliereuiider.
Our objectlves are to obtain re￿i￿able a%5UTan¢¢ about whethcr thc financial statements a whole are free
froin m¢1terial misstatenient, whethei. due to fraud or crror. and to Issue an auditor's I"eport that includes auy
opinion. Reasonable assurance 1.8 a high level of assuizncc, but is not a guarantee that an audit c￿ducted in
accordance with ISAS {UK) will always deteci a maieri81 tnisstatejnent when it exists. Mis5tatenients can arise
from fixud or error and considered Jnaterial if. individually or in tlie a¥grtt¥at4 tliey could reasonably be
expected ¢0 influence tl)e economic dec￿SlUnS of useis taken oti tlie basis of tlies¢ fjnanrial staiemeiits.
Irregularities, including fraud, are i115tall¢es of non-compltance with law% and regu121ions. We desig￿ procedure5
ifl line with our responsibilitics, outlined above, to detect material misstawnents in respe¢i of irregularities,
Encluding fraud.
DEscussions wilh and enquirie5 of managenient 2nd those Ch￿￿ed with governanLe were held with a view to
ideiilifying thu5e laws and Jrgulalions tliat could be expected to have a material impacl on the fIrtanciJl
slateinejits. l)uriiig tlic enga.
enient tcam britfin& tlie outcoiiies of thesc discussions aiid enquiTies were %hared
with the teani, a5 WCII as consideration as to where and how fraud may i)ccui' in the entity.
Thc following laws and re8lll8tions were identified as being ofsignificance to the entity-.
Tliosc law5 and regulations ¢onsidere(l io h4ve a direct effeet on the fjnancid st2tetnents include UK
fjnancial reporting i'egulatlolls. Clvar￿tstt$ Act. Tax and Pensions leuJislatlOA, and distribU￿b]e pi'ofit4
legisla(ion.
Audit protedtlTes undertakeii in response to tlie potential i'i5k5 relatiiJg to irregulaL'ltie% Iwlii¢h in¢lude fraud and
non-compliance witli laws and IEgulationsl coniprised of.. inquiries of managenient and those ¢liarged with

Tlic lJiiitzc Family C.hai'ltgble FoundAtioll
Stateiiient of Fillancial ALtÈviti¢s foi. the year ellded 31 Deceniber 2020
governance as lo wliether tlie entiiy Ctsmplies with sudi 121vs and regiilations,. enquiries with tlie sarTse
coRcei'iLÉIiB any a¢¢ual or potenlial litigation or claitns. inspection of Televanl legal eor¥espondcnce,' review of
bO￿.d n)inute5,' testing tlie ai)propi'iateiicss of journal enti'ics. aT]d thc perfoin)ance of analyti¢al revtew
identify unexpected movements in account balances wliich may be iiidicative of fraud.
No instaiices of material non-compliance iYe]'e identified. Howevei., Ihe likeliljood of detecling irre8ularilies,
iiicluding fraud. is litnited by th¢ itherent diffjculiy in detect￿n8 ii'regularitie5. the etYert1v￿csS of the entity's
cuntrols, atjd tlie nature, tEJning and ¢xt¢rtt of iht audit pi'ocedures pei'fomied. Irregularitie5 that result from
fraud MI￿1( be inlicyently Inore difficult to detect than ilTegylai'ities tliat re.%ult frotn error. As cxplaincd above.
there 15 an uiiavo5dable risk that material mis5tatcmcnts tnay not be detect￿, even though the audit has been
planned and pcrformed in acwrdance with ISAS (UK).
A ￿tther d¢s¢riprion of our re4)onsibilities for the audi¢ of the financial ￿aleInentS is located on the Financial
Repojting Council's website al.. litt s'.l/www.frc.or
.uklauditOl'51es
onsibil&tits. Tliis description forms part of
oui. auditor's report.
Use of our report
This rcport is tnade solely io tlie charity's trustee4 as a body, in accol￿an¢t willi Part 4 of tlie Chwitieg
(A¢¢ounts and Reports) RegulatiOll5 2008. Our audit woi'k I)￿ been undertaken so that we niight state to the
charily's trt￿tee￿ tljose n)atlers ive are Irquired to state to them in art auditoi s report and foi. na otliei. purpose.
'lo tlie fullest extent peiniitted by law, we do not accept oi. assiime re.%ponsibility to anyone othcr than the
charity and tlie charity's trU￿et$ as a body, for oui. audit work, for this report. or for the opinions we have
foTmed.
Russell Joseph {Sellior Statutory Auditsjr)
For and behalf ofBourner Ilullock, Statutory AuditQT
Sovere&gn Hous
212-224 Sljafts'bury Avenue
London
WC2H 8HQ
20.08.2021
Boui"Jier Bullock is eligible for appointllient as auditor of thc charity by virtue of its eligibility for appointment
as auditOT of a coinpany und¢r section 1212 of the Conipanies Act 2006.

Tli¢ Hiiit£¢ Family CliaritAble FuuDJatio
Statenienl of Fin#iicial Activities foi- the year elided 31 Detember 2020
Note
2020
2019
Inetsme
Donations=
Voluntsry income
2,850.000
3,380,925
Investment income
12.330
Total Ineome
2,871,920
3.393255
Expenditure
Cliaritable expenditure
(885,174)
(4,051.394)
Other charges
(723)
(679)
TotRI Expenditure
{88S897)
({052.073)
Net {LAlSS) l Gain on inv¢5tinent assets
(1.329.909)
839,423
et gain
656,114
180,605
Fullds brought forward
364,206
J83,601
Total Funds CAriied fonyard
1,020J20
364 206
All ielained fund5 are unrestricted.
All anioui)ts ielate to continusng activities.
Ttie notes on pages 12 to Ig rorm part of tliese fJnaTrcial stateinenls.

The Hintze Family ChAritable FouDdation
BalAn¢¢ Sheet 4$ at 31 De¢emb¢r 2020
Not¢
2020
2019
Fixed asset8
Investments
4 853 9119
Current assets
Debtors: amounts falling du¢ within one year
12,658
2,134,533
Cash al bank
624J39
299.469
Creditors: amounts falling due within one year
10
1,829,298
4.286 370
N¢t ¢urrent 11gbllltAe$
(1,192JOI)
(1,852,368)
Debtor5'. amounts falling due after mor¢ than one year
200.000
200.000
Creditors- amounls falling due after more than on¢ year
10
(2,841,288)
(4,002,669)
Total net ￿￿e13
1,020J20
364,206
Unrestrl¢ted fund$
1,0211020
364,206
Approv￿ by th¢ Truste¢s on 20th August
and signed o
their behalf and authorised for issue by:
Sir Michael Hinlze
Trustce
Sir Michael P¢&t
Trustee
The notes on pages 12 to 18 form part of these financial Statements.
10

The Hinfze Family Chaiitabl¢ Foundatioll
Statenient of Cash Flows for the yeai. ended 31 Decenibei. 2020
2020
2019
Nel gaiiifor Ilieyeor
Adjustmeijts foi.:
Net lossesl(gains} on investments
Iiivestnient iiicome
656.114
180,605
1,329.909
121.920)
2.121,875
{3.618,453)
1839,4231
(12.330)
(2,321,375)
87,881
(74.635)
De¢reasol(increase) in debtoi's
(De¢rease)/inciease in crcditOTS
Foreign exdiangc loss on bank accounts and Creditors
c.ash flows froni optr&tiiJg Activitles:
Ivel cuslifroni/(N5¥diii) op¢r•lliig uclivilies
440.-$69
12,979.277)
Cash flows fi'oni investiiig Activities:
Dividejids and iTttere5t froii) investments
21,920
6,081,890
(6,246.465) {1,251,8941
1142,655)
2,675,129
12,330
3.914,693
Proceeds fi'om sale of iiivestinents
Purcliase of investments
Nel C￿liArD111 liiwliiig rtclivilies
CliatrigÉ iii c￿$11 Mild eash e¥iiii*ulei¥l.g iii Ilie reporfiiig
period
297,914
(304.1481
F4oD cgs11 flow niovement due to foi'ei%ti excliange
26,956
299,469
74,635
528,982
CASIJ gild e%sh equlvalents tlie begiiiiiing tsf tlie
r¢pDrting period
'Us11 niid crtsli eqiiivaleiEls ihe eiid of Ihe Yeporliiig
peiiod
624,339
299,469
Aijfilysis of cash artd t*$h equivllleiit5
2020
2019
Cash al bAtkk
624,339
299,469
299,469
Tolrtl i'usli lliid cfjsli eqiiiiinleiit
624,339

The Hi￿1Ze F&rnily ChaiitAble Foundatio
Notes to the accounts for the yeAI' ended 31 Decembei. 2020 (torttlnued)
J. PJ-iNcipal aeeouiitittg polloies
(2) Accouthting tonventioJJs
Tlie finwicial siateiiients liave beet) prep￿rd under tlie liistorical cost conventioji, as modified by tlie iiiclusion
ot-investmenls at market value.
The financial ststemenL8 have been prepaird in accordance with tlie Statement of Recommended Praciice
ApplEcable to Chaiities Preparing their aecounts in accordance with the FinancEal Reporting Standard
Applicable iii the UIQ aiid Republic of Il'eland IFRS 1021 (2nd Editio￿ effective janU￿Y 2019) ("Charitics
SOIIP"13nd ¢he Chdrities Act 2011.
The financial statements have been prepared to ￿ve a 'true and fair. view and l)ave dcparted from tlie c.harities
(Acc()unts and Repoils) RegEJlations 2008 only to tli¢ extent r¢quired to provide a 'true and fail. view.. This
depaTrure haq inv()Ived following 'AccountiJiu and Reportinu by Cliaritics.. Statement of Re¢onli￿elIded Praciice
applicable to charities prepai'ing theii. accounts ill ac￿l'danCe with the Financial Reporting Stand￿￿ applicable
in the UK and RepubliL of Ireland (FRS 102) ISeLond Editton), rather the Aceouiiling and KepDrting by
Cliarities.. St&tement of Recommended Piactice effective fi'thin l Api"il 2005 wl)icl) has siiKe becn withdiawn.
-Ilie I'oundation cort8titut¢s a public henefit entity as defEned by FRSIO2.
The financial ststciiients aiE prepared tlie guing Loncem basis which assumes tliat The Hititze Family
Charithble Foundation will co&ilinue in opeTational existence for tlie foitseeable future, Tlie Boxi'd of Trustees
have con5i(fered the woi"ki*g capjlal and cash flow requirements and consider tliat the curient and forecast cash
resouire5 are siififjciellt to covei. tlie working capital rcquiremcilts of die Foundation for at least 12 montlis.
The prior year rIg￿re8 ale unauditcd.
(b) Fulld #ecounting
Funds held by the Foundation iinrestricted 8enei31 fiinds wliicli can be u5¢d in accordance with the charitable
objects at tile di5¢retion of thc-l'iwstees.
(c) Fixed asset InvestmenL8
Fixed as5¢t investments are inLliided at closing niai'ket values at the balance sheet date or at the TrLlStees'
estimated value where there is Do niarket valJe. Arty gain or loss on revaluation is taken to the Statement of
Finantial Activities.
(d) Financial instrument5
Basic financial tnstrunienls, which include debtors, creditors, atld bank balances. are initially measured at
1r￿ls8¢ti0n price including tiaiisaction costs and ale subsequently carried at ainorlised cost using tlie effective
inlei'est Jnethod unles5 the ai¥angement ecjnstitlltes 2 finaneirtg t12nsaction, whcrc thc tran￿a￿l0￿ i.% measured at
the pres¢Nt value of the future reecipts diEcounted fit a market rate of inteTCSi.
The Foundation only has basi¢ financial instruments.
(e) Debioi
Basie ftnancial assets, including re¢¢ivables from donorn and other debtors, ait initially recogniscd at
tran%action pi"ice, unles.% the arraiigeincnt constitutos a fintsiicing trall5action, wheTe the transaction is IMett5ured
at tiie prcsoit value af the futurc ieccipts discou2ited at a niaTket rate of inteiE5t. Such assets dre Subsequently
carried at ainortised cost usillg (lie effective inteiest Jiiethod, less any iinpairinent.
12

{D Inconie
Income froin donations is in¢141ded in incomtng resources when receivable. Gifts in kind coinpristng listtd
secw'ities are mai'ked to market on tlie date of iEreipt.
{g) Investment iiicome
Investment income is accounted for in the pejiod in whiL]i it be¢om¢s dlle to the Fouiidation.
(h) Expenditure
I'xpenditure is in¢ludcd on an accruals basis. Grants payable are recognised a8 expendithre in thc ycai. in wliich
the Foundation bec(Jm£% legally obliged or enters into a non-legally binding Commitment to make paymeiit.
(i) Foreign eurreuel¢s
Trallisactions in foreign cui'jrncics are recoi'ded at tlie Jate 011 tlie date of tl)e tiansactiort. Monetary assets and
liabilitics denoniinated in foreigll ¢urrencics arc ttanslated at the excliangc rate at the balaii¢e sheet date. All
foreign exchange differcnccs ait taken to the St8t¢ment nf Financial Activities. and al'e allocated to tlie
parti¢ulai' tnmniitinent to which they relate or, if unrelated ¢0 a particular commEtsnent, pix> rata to the total
clwitable commitments entered into during tlie year.
ti) Realised aiid unrealised gain5 Aud1055es
All gains aiid losses ar¢ takeii to the Statcmcnt of Financial Activities as they 8rise. Re21ised gains and losses
on investments alt ￿lCulated as the diffeience betweeii sales proceeds and u)SL Umealised gains and losses
are calculated as the diffei'ence between mdl'k¢t or Tru5tees' valuation at the yeai. end and opejiing niai'ket or
Trustees. valuations or dt cosl if acquiTed dui'ing Ihe yeai.. Changes in unrealised gaitts and losses reflect the
clianges in Imai-ket 1}￿s(teS, valuations diii'ing the IEpoJ%iiig peiiod, and the write-back of prcvtously
JtLorded unrea5ised gai115 and 105se8 whei) Ili¢ irtvestimeiits are sold.
Realised and unrealised gains are not shown separntely in the Stsiemeni of Ftnancial Activities.
(k) Grgnt comwitnients
In the case of unconditional ￿ant offer this 15 IEcognised once the Te¢ipi¢nt l)as been i)otified of the grant
award. Ctrrant crcditors are ¢lassifJed as am(>unL% falling due within one year or amounts falling due aft¢r one
year bascd on the payment dat¢4 tiTr he made. FRS102 rcquire5 Trustee5 to apply disLount l-ates lo longer lerm
charitable ¢ommiiments (those to be made rnoi'e th¢in one yeai. after the balance sheet date) to iEState them at
their prtsent values.
Voluntary Income
Unr¢$tri¢Éed Ullre$tYicted
Fumds
FuJJd$
2020
2019
Donallons, Grants and Gifts from'l rustee
Donaitons, CFrants and Gifis from others
2,850,000
3,264,OUI
116.924
2,850,000
3,380,925

Tlie Hintze bamily Chaiitable Faund&tio
Notes to tht aceounts fot. the year ¢iided 31 Deceniber 1020 {eontiiiued>
Investn]eTkt IIiLome
2020
2019
InvcstmenLs managed by'l rustees..
Equities
Loans
15,920
6,000
7,566
4,764
Total Investment Income
21,920
12,330
Investmertt irtcome Consists of inlere5t earne(J on loans, and dividetmls received from equstie5 and fuiid
invesknnents.
Otljei. Cljxi'ges
2020
2019
Bank and broker charges
Investment Portfolio charges
723
644
35
723
679
Allocg(loii of support costs
Support ¢osls allocable to Charitable Activities are &$ fallows-.
2020
2019
Staff costs (see llote 6)
ConsultanLy cO￿S
Admini5tTatiort Charges
(Mhcr
Foietgn exchaiigc Ios5 not directly allocated
Auditors, remunerotiOD
31,831
31,746
4,500
66,674
2,296
133,875
6.960
66,399
2,027
11,500
6,240
118,597
246,OSJ
ConsultAn¢y costs relate to administration services. Support costs are attribiited to individual grants pro
rata to each grant's financial amounl, as stated in note 7.
14

The Hint7.e Tr'Amily CIIArit8ble Found#¢lon
Notes to th¢ 4e¢ou7Jts foi. the yeAI' ended 31 Decembei. 2020 {conttllued)
Staff ¢ost$
2020
2019
Salary
'mployer's National lllsurance & Pension Contribution5
31.000
831
30,967
779
31,831
31,746
1.here was one employee diiring tlie period (2019: aiie).. tknrothy. LAdy Hintz< the Chief Executive.
LAdy l.lint7£ IS the wif¢ of Sir Michacl Hintze. a Trustee of the Fow)dation. Ttust¢ts received t]0
remuneration and were not reiinbursed for any expenses.
Expeiiditure
Chailtable
CommitNiellts
FoiEig
Exchauge
Support
Costs
TotAI
2020
Total
2019
Arnied Seivices
CiilturAIIAris
Educational
Htrdlth
Religioiis
Sociallb.nvironment
72,024
1,802
3.571
23,698
6,795
1663)
73,826
175,339
509,955
140,087
{14,067)
34
296,179
3,100,092
372,405
IU4.211
284,514
{106,007)
70,350
14,830
{.3C57)
(1.419)
471,427
133,659
(11,9851
34
Net eliaritsble
donatlOD5
cofftniitmetkt$
766,577
83 J94
35,203
885,174
4,0SlJ94
2020
Number
17
2019
Numbtr
38
NumbcT of institutio￿$ receiving tharitable comniiiments
Tlie chayitable LonJiiilments of £766.577 (2019.. £4,013,853) ts tlic sum of the donations and cliariiable
co[￿11￿tine￿tS of £690.152 (2019.. £_3,958,8521 which iepres¢nt legally (Ibligated and committed charitable
gi'ants made dui'ing the year and tlie nct discouiitints ¢liarge of £76,425 {2019.. £55.001). Of tlie
coniinitments pledged 2020. £35i.99412019'. £2,936,194) will be paid in futiire years.
To Comply with FR8102, tl)e OUtst￿ld1]Ig graiit coiiiniit1nent￿, inclLiding Iliose pledged in prior yeaTS. are
discuuntrd tu dieti. present value5. 'fhks has resulted in a net charge of £7().425. -lkne charge ha8 arisen
priiiiarily hecaiisc as tlie i)ayinent dates for pledge.4 i￿ade bcforc 2020 becoll)e Closer, the overall discount on
all olltstandi118 plcdg&s i"edu¢es.
15

Tlie Hintze Family Cliai'rtable Tr"oundatioll
Notes to the accounts fni- the y¢g1' ended 31 December 2020 (eODtlnu¢d)
Fixed As5el Investments
2020
2019
Mai'ket value brought forward
6,019,243
7.842,619
Acqui%itions at c(LEt
PrO￿edS fi'om sale of investments
Net {lossl I gain on revaluativn
Net loss on foreign exchgn8e
6,246,465
1 ?51894
(6,08 1,8901 {3.914.694)
{1,305,6361
938,550
124.273)
(99,126)
Markct v&lue carried foiward
4.853,909
6,019,243
Ibstorical C05t
5,134,506
5,006,802
The net loss on investinent assetg is £1,329,909 (2019.. gain £8.39,423) which is the total of nct (loss) I gairt
oji revalualioii and nei loss oli forei￿ exclianot.
Investments comprise:
20211
2019
Investments nianaged by I'ruslees..
CQS Credit Multi A.%%et Fund
CQS Directional Opportunities Fund
744,537
2,427,321
1.828,874
4.190,369
3,171,858
6,019,243
Other..
A￿stralIan l)ond%
1,681051
1,682,051
Market v&lue carried forward
4,853.909
6,019,243
16

The Hintze Family Chgritable Foundation
Tr4ote$ to the accuuDt$ for Ilie yeai. ended 31 Decembei. 2020 (continued)
Debtor5
2020
20J9
Amoullt5 du¢ wlthin oue yeai-.
PrepAynients
Receivable frotn donoi.
1,050
2,498
2.115.585
16,450
11,607
12.657
1134,533
Amounts due afiei. more thali one year:
l.oans
2(10,000
200,000
212.657
2,334,533
Thc loan of £200,000, included within debiors due after moiE than one year, was made to a benefi¢iary uf
the Ch￿.ity in 2019. The 108n accrues interesi at 3 /• and is paid quarterly in arrears. Ihe loan is expected
to be i'epaid in ￿11 ii) 2024.
10 Ci'eJitois
2020
2019
Amounts d￿e withtn one yeai.:
Chai"ilable comniitments
Other creditors
1.771.747
57.551
4,211,440
74,930
,829,298
4.286,370
Amuuttl$ due after inore tban one year:
Chai'itdble cointii￿1J7I¢1its
2,841,288
4.002.669
4,670,586
8,289,038
To ¢omply ivitli l.'RS102 all grant commitmcnts t]ot due tn be fi]lfilled ivithin one y￿r have been
discoliiiled to tlieir pie5Cllt valuc. Tlie prc-discounlints amouni of the conllnitin¢nts £4,625,468
{2019.- £8.302,96.S). Thc iticrease in ¢hariiable expenditure in the yeai. £76,425 (2019.. £55,001).
17

Tli¢ Hitht7.e Family Charitable Foundatio
Notes to the accollnts foi- tlie y¢ai' ended 31 December 2020 (tontinued)
11 Related party ti'aiis#cllon$
The Foundation niakes coinmithiients and donations to a nuinbcr of charities thai one or more tTUStees
have a particular interest iii. The Foundation operates a ¢ontltcts policy that i'equires all actual or
potential conflicts of iniercst Éo k disclosed at fnjslee ine¢tings. The Tr￿st Deed requii.es that
trustee must abseiit his or herself fron) any discussions of tlie TTUStees in wliicli it is possible tl)at
confli¢t will arise between his or her duty to act solely Jn ihe tnterests of the I'oundation.
In line with the Tr￿st Deed Sir Mi¢hael Hintze, a TTU5tee of the Foundation. duly disclosed his
interests in IElation to thc related party transa¢ti()ns disclosed here dnd absented himself frum all
di5Gussion$ and dcci5ions in relation to the poteiitial investments and donat2ons'.
Services by CQS {UK) LLP and CQS Jersey Liniited tjiereaftei", of which Sir Michael Hilltze is the
ulumate beneficial ownei.. CQS (UK) LLP cliargcd £57,221 {2019,. £59,791) and C.Q8 Jthvy
Limited charged £9,17912019.. £6,882) for sei'vice8 Provided to the foiindlltion during Ihe year. The
balaiice reinaining to be paid at tlie year-end to CQS (UK) LLP was £37,291 (2019.. £59,79112nd to
CQS Jersey l.irnited £6,884 (2019.. £6.882).
Investments have been made into tlie followin& tunds of the CQS gTOUP lof wliich Sir Michael
Hintze 25 the ultimate beneficial owner). After cai'¢ful consideration the funds weir coiisidered the
best ijivestnient options by ilie otheT trustees in compai'ison witli other options available, taking into
a¢¢OLint perfoiynance. risk. eurrcncy, liquidity and suitab&lity in ielation to the FoundatlOll'5 pledges
and othei. creditor oblÉgatioits.
During d)e year the net investment iti GBP in the CQS Credit Miilti Asset I'und WLS
£8(KJ.001 {2019.' i'edeiiiptioi) £1,237,595} and tlie value of tlie invesinient wa5 £744.537
{2019.. £nill Rt tlie year end.
I)urÈng die yeay the net Tedeinption in GBP in the CQS Dii'ecttonal OppoTtunities Fund
l.imited was £1,7.40,aoo 12019.. £nil) and the value of the investment was £1,616,519
{2019.. £4.190,3691 ai the ye2r end.
Durijig dje year the net redemption in IJSD in the c.os r)iYcctional Opportunities Fund
Liiniled iv&g £595,12.3 (2019.. £iiil} and tlie valuc of tlie iiivcstment was £810,801 (2019..
£1,828,873) at the year ertd.
A grant of £150.000 was niade during the year to The Institute ofE¢onomic Affairs Limited. a UK
regisTrred charity of which Sir Michael HiEitse is a trustee (2019.. £nill. -lkne ba12tJce reniainin8 to be
paid at ihe year-eiid was £IOO,000 (2019.. £nill.
A grant of £120,000 was inade during tlie year to tlie Royal Navy & Royal Mai'iiies Cliarity. & UK
rewstei'ed charity of which Sir Michael Flintze is the Senioi. Vice-Patron. Th¢ ove]311 coinmitment
reniaining to b¢ paid at the year.end was £900,000 (2019.. £1,110,666).
Du¥ing the year Sir Imichael Hintze Inade volunt£ry donat&ons to tlie l.ound2tion of £2,85D.(M)O
{2019.. £3.264,001) to assist ihe Fouiidalion witli furthei7nce of its pi'incipal objcctives.