THE HUThON FOUNDATION Flnanclalstotementsfor the year ended 31 December2023 THE HUThON FOUNDATION Admlnlstratlon Professlonal advlsers Trustees Trustees, report Independent revlewerfs report Statement of flnanclal artlvltles Balance sheet Notes to the flnanclal staternents THE HUThON FOUNDATION ADMINISTRA TION Registered office address The Old House Bramley Road Sllchester RG7 2LU Registered charlty no: 1106521 Secretsry & Treasurer Jackie Donnlna clo 25a Soho Squa London WID 3QR THE HUThON FOUNDATION PROFESSIONAL ADVISERS Bankers C. Hoare&Co 37 Fleet Street London EC4P 40Q Independent reviewer N. Cola[o FCA TC BSG Valentlne Limited Lynton House 7-12 Tavlstock Square London WCIH 98Q Sollcitors Stone King LLP 16 St john's Lane London ECIM 48S THE HUThON FOUNDATION TRUSTEES Trustees (in olphobetlcalorder) Mrs. Amanda Hutton Mr. Graham Hutton Mr. James Hutton Mr. Richard Hutton THE HUThON FOUNDATION TRUSTEES REPORT Trustees report for the year ended 31 December 2023 approved by the Chority Commissloners. The principal activlty of the charity throu8hout the year was to recelve donatlons and donate monie5 for charltable purposes for the beneflt of the publSc In any part of the wortd as the twstee5 may, in thelr absolute dlscretlon, think flt. The trustees wlll continue to consider appllcations for donatlons and will make such donatlons as they think flt in the foreseeable future. The trustees present their report and the financlal stalements for the year ended 31 December 2023. This report is prepared in accordance with the Charltles Act 2011 and the Statement of Recommended Pracllce "Accounting and Reportlng Charitles" (revised 20081 i55ued by the Charity Commlssion in March 200$. Trustees, responslbllltles The Charltles Act 2011 requlres the trustees to prepare fSnanclal statements for each flnancial veor which give a true and fair vlew of the state of affalrs of the charlty and of the surplu5 or deflcit of the charity for that period. In preparlng those financlal statements, the trustees are requlred to., Select sultable accountlng pollcies and then apply them conslstentlyl Make judgements and estlmates that are reasonable and prudent,, Prepare the flnanclal statements on going concern basls unless it is Inapproprlate to presume that the charlty wlll ¢ontinue In exlsten¢e; Flnanclal revlew The charlty had 4 deflclt for the year of £61,810 12022 deflclt.. £288,6251 and made haritable donations in the furtherance of St5 oblectSves of £209,89112022'. £197,311), The trustees are $3tlsfled that the objects of Ihe charity contlnue lo be achleved. The overall surplus on the Income account amounts to £1,130,641 12022: £1,192,451) and is avallable for makln8 future donations In accordance wlth the charlty's ob]ectlves. The charlly'5 fund5 are retalned In an Interest bearing bank account to enable the trustees to make donatSons wlthout any concern for investment rlsk assoclated wlth lon8er term Investment5. Determlne how amount5 are presented wlthln the statement of flnancSal a¢tivltles and balance sheet havlng regard to the substance of the reported transaction or arrangement, In accordance with generally accepted accountlng prlnciples or practlce. The trustees are resp)n51ble for keeplng proper accouniln8 records whlch dlsc105È the reasonable accurary at any time the flnanclal posltlon of the charity and to enable them to ensure that the flnanclal statemenis complv with the Charities Act 2011. They are also responsible for safegyordlng the assets of the charity and hence for takln8 reasonable steps for the prevention and detection of fraud and other irregularilie5. Objectlve prin¢lpal actlvltles The charlty was created under a Trust Deed dated 15 October 2004 under a scheme Trustee appolntment, Inductlon and tralnlng The exlsting trustees have the power to appolnt new trustees to fili specialist roles. When conslderln8 any new appolntments, the trustees have regard to the requlrement for any speclallst 5k1115 needed to asslst In meetlng the charltable oblectives. New trustees are brlefed on thelr le8al obligations under charity law and the contents of the charity's constitutlon. They are also advised of the decision makin8 process, the prlnclpal attivities and the flnanclal performan¢e of the charitv. During thelr Induction, new trustees meet key truslees and are also encouraged to attend approprSate external tralnlng events where these wlll facilitate the undertaklnB of their role. THE HUThON FOUNDATION TRUSTEES REPOR T ReseThe$ pollcy The charitVs reseNe pollcy Is to retaln a sufficlent level of reserves to make charitable donations. All the fvnds of the ¢harlty ale unrestrlcted with the e%￿ptIon of fund5 In relatton to the International Theological Institute. The charity has two funds, the Income account and the Capital account. The income account is 8enerated from income derlved from donatlons recelved and Is used to make charltable donatlons whlch meet Its charllable oblectlve5. The capltal account 15 derived malnly from the orlglnal Investment as set out lft the Trust deed. Statoment as To Dlsdosur• ol Informatlon So far as the trustees are aware, there is no relevant information whkh the Independent examlner 15 unaware, and each Irustee has taken all the steps that they ought to have taken as a trustee In order to make them aware of any Informatlon and to establlsh that they are •waro of that Information, Publlc ben•tit St•tèmttnt The trustees have referred to the 8uldance In the Charlty Commlsslon's ￿neral guldance on publlc benefit when exerclslng powers and dutles In lyrtherance of the charltie5 obffiettjves. The Trustees, report has been prepared in actordance with the requlrements of the Charitles Act 2011. MrGraham Hutton On behalf of the trvstees THE HUThON FOUNDATION INDEPENDENTREVIEWER'S REPOR T Independent reviewer's report to the Trustees of the Hutton Foundation I report on the account5 of the Trust for the year ended 31 December 2023, which are set out on page5 7 to 10. Respective responsibilities of trustee5 and examiner The charity's trustees are responsible *or the preparation of the accounts. The trustees consider that an audit is not required for this year (under section 144121 of the Charities Act 2011 (the 2011 Actll and that an independent examination is needed. It is my responsibility to.. examine the accounts under section 145 of the 2011 Act. to follow the procedure5 laid down in the General Directions given by the Charitv Commission under section 1451511bl of the 2011 Act,. and to stale whether particular matters have come to my attention. Basis of independent examinerg report My examination was carried out in accordance with the GenerBI Directions given by the Charity Commissioners. An examination includes review of the accounting record5 kept by the charity and a comparison of the accounts presented with those records. It also include5 consideration of any unusual items or disclosures in the accounts. and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statements below. Independent examiners, ststement In connection with my examination, no matter has come to my attention: al which 8ives me reasonable cause to believe that in any material respects, the requirements.. to keep accounting records in accordance with section 130 of the 2011 Act. and to prepare accounts which accord with the accounting records. comply with the accounting requirements of the 2011 Act have not been met or,. bl to which, in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. N. ColaGo F.C.A. TC BSG Valentine Limited Chartered Accountant Lynton House 7- 12 Tavistock Square London WCIH 9BQ I I September 2024 THE HU￿oN FOUNDATION STA TEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2023 Unrestrlcted Restrfrted Total Fund5 Notes 2023 2023 2023 2022 INCOMING RESOURCES Incomlnq resovrceslrom ienerptedfvnds Charltable donations 8.696 80,WO 88.696 86,080 Interest & other income 24,948 24.948 50,679 TOTAL INCOMING RESOURCES 33,644 80,(KJO 113,644 136.759 RESOURCES EXPENOED Costs oloenerutlnlfunds Charitable donatlons made 1129,8911 12,0551 180,0001 1209.8911 1197,3111 12.0551 11,5391 Admlnlstratlve expen5e5 TOTAL RESOURCES £XPENDED 1131,9461 180,0001 1211,9461 1198.8501 NET OUTGOING RESOURCES FOR THE YEAR 198,3021 198,a021 162,0911 Other reco8nlsed galns or10sses 36,492 36,492 1226,5341 Net movement in lunds 161,8101 161.8101 1288,6251 Total funds brou8ht forward 1,192.451 1,192.451 1,481,076 TOTAL FUNDS CARRIED FORWARD 1,130.641 1.130.641 1.192A51 The note5 on pa8es 9 to 10 form part of the financSal statement5. THE HUTTON FOUNDATION BALANCE SHEET As at 31 December 2023 2022 FIXED ASSETS Investments in Secudlle5 L112.332 1.144,158 Cash at bank and in hand 19.279 49,263 TOTALCURRE14T ASSETS 19.279 49.263 OJRRENT LIABIUTIES Accr¢Jals 19601 I9￿1) TOTALCURRENf LIABILrnES 19601 19601 NEfASSEfS 1,130.651 L19L461 Representedby.. capit￿ account Income account io UNRESTiucfED FUN05 L130.651 1,192A61 Approved by the Trustees Graham Ilutton For and oft beham of the Tn￿tee5 Au8USt 2024 The notes on page5 9 to 10 fc¥m partof the finandal statements. THE HUThON FOUNDATION NOTES ro THE FINANCIAL STA TEMENTS (continued) l. Accounting pollcles The financial statements have been prepared in compliance with FRS 102, 'The Financial Reportin8 Standard appli¢able in the UK and the Republic of Ireland,. the Statement of Recommended Practice applicable to charities preparing their accounts In accordance wSth the Financial Rep¢*rtin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 and thè Charities Act 2011. The Hutton Foundation meets the delinltion of a public benefit entity under FAS 102. Assets and liabilities are initially reco8nised at historical tolt or transaction value unless othen¥lse stated in the relevant a¢counting policy notelsl. Choritable I￿orne All intomln8 resources are included in the statement of flnancial artlvltie5 when the charlty Is entitled to the income and the amount eart be quantified with reasonable accuracy. Voluntary income is received by way of grants, donations and 8ilt5 and is intluded in lull In the Statement ol Flnanclal Activities when receivable. Expendlture All expenditure Is accounted lor on an accruals basis and allocated to the approprlate headln8 In the accounts. All VAT has beèn includèd as part of the cost to whlch It relates. Charitable expendlture comprlses th05e cost incurred by the charity in the delivery of Its acrlvltles for Its beneliciarles. These tosts include chafltable d5strlbutlons made. rrustees. remunerntlon ond relotedpurty tn711517CtkJn5 No trustees retelved any remuneratSon durin8 the year 12022.. £nill. No trustees, expenses were Incurred durln8 the year. There were no related party transactions In the year12022.. £nlll. Substantially all of the donatlons received in the current and previous year were Irom ihe Hlntte Famlly Trust. 2. Charltable Income Unrestrlcted Restrlcted Tot?12023 2022 Donotion5 rKeived Charltable donotlons 8,696 80,000 88,696 86,080 Choritoble doootions La Alle8rSa de Los Nlnos Emmanuel Colle8e Theolo8ltal Instltute For8Otten People Other donations 115.0001 13,7201 115,0001 13,7201 180,0001 18,CKIOI 12.4001 180,QMJOI iio,0001 196,9111 180.QJOI 1111.1711 1111.1711 TOTAL 1129,8911 180,0001 1209.8911 1197,3111 THE HurroN FOUNDATION NOTE5 TO THE FINANCIAL STATEMENTS (continued) 3. Administrative expenses 2023 2022 Independent review Bank ehar8es Sundry Expènses 960 960 579 595 500 2A155 1.539 4. Investments 2023 2022 Investment portfolio 1,112,332 1,144,158 1,131,611 1,193,421 5. Credltors 2023 2022 Accruals Independent examlnation 960 960 io