Ch•rlty rng18tradon number 1119946 Compwry reglslration numlwr 06281130 IEngland and W4le•) THE HARRISON FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE HARRISON FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Mr Harrison Mrs S Homson Spcrotary Mr S Rutter Charlty numb•r 1119946 Company numb ¢A281130 Reglstorgd offlc• Hham Dts Hal Mlboume Nvcastl8 up Ty Tyne NE20 OOH Audltor FemwLxxJ RrA1 Jesmond Tyne and Ear1d NE2 1TJ
THE HARRISON FOUNDATION CONTENTS Trustees, repyt In*eThlent aLklrtofs report Statwnent of finanrAal adi Baknce sheet Notes to the finanoal 8tstements 10-15
THE HARRISON FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEAIBER 2023 The trust&S PSent thrnu rek and ltrwrial 8tatenwts for the ye ended 31 D&mber 2023. finanaal statements have been prepared in xcordance wrth Ihe accting policaes set out in note 1 to the finanual ststements and comF4y wrth the charitys governing documenL the Companies Act 21XJ6 and 'Accounting and Reporting by Charities.. Ststement of Reo)mmended Practic aPrtIe to charilies preparing the acLounts in 8¢xordance with the Financial RertIJ Standard applica in the UK and RepubU¢ of Ireland (FRS 102) {effe¢tNo 1 January 20191-. ObCtIveS and a¢ltvlts8s The matn acbmtses of the charity ¥e 1S)natNTh to Sup[ a knited number of Use8 wilh 4)e&fic prciects and alms each year. Fundrnislny dlselosur•s The charity is required to report how it deals wilh fundr8Mir@ from tt)& putAio The charty doès not US9 a professional fundraiser or (x)mmwuo1 p3itiapatOT to Tri5e fwKts. Any N)nleS Ta ditethy from the t)ubC f911LTrVS al guidelines sel out by the Ch8rJty Commis5M and UK in eY respe We respect kywatry and ¢ontsct prefrrences of all publK donors. The trustee$ have paid due regard to tsmidance issued by the Charity CoMmi10n in deuding what i¥itt8S th arity should Lmdortake. A¢hlwrnmgnts and perfornmnco In 2023 the HaThison Foun¢SalvJn its to pron soca81 >bilIty aTh5 empxy•M indMdual8 thrgh access to educatijn, trairung awKf j¢)b opportunities. The Foundation donated d05e to £1 milion to charilies in the United Kingdom and Anbgua and Barda. This ftmding has been inslrurnental in enabThJ ¢arrtable tyg¥ni%ations to delNer lrf&chaThJing services, suc as education. job trainirvJ and reskilirKJ progTanwnes. SL4JPOrting ¢harth8s that work thredty v&ilh underpri¥ibJ&l indpliduals. th8 Foundation seeks lo create sustsinabl6 palhways out'of kk)vety and towards sèif4uffiaèncy. Th& FoundatM)n's support has empOWed thousands of indmduals. prowk1irvJ them with the toois and OpPbltlè$ to improve their soaal and aconomlc Pfospecis. In Ihe United KiThJdom, the Harrison Fndatic cOtrated its efforts on in the )rth Easl of England. a reglon hislori¢ally challenged by high unemF4oyment 1¢e¢or#)mI0 irwuality. The Foundation supported many inativeS in thi% araa, •ach athjressing key issues related to education. tmning and &mployabihty. They indude the N8wca8lle Ur¥ted Foundayon INUF), u8e8 the KA7er of sw to WW38ge young peopLg. helpkng thèm develop skills that improve their education, employability and mental welkbeing. The Harrison Foundation's donation helped expand NUF'S eMF4Oyabi programmes. paiticularly those targeting disthantaged young people, promding Ihern with critical thgrtal sknlls trainiThJ. ment¢)rship aThJ p)b plxement supporL The Foundon's parinershy with the Foundation of Ltrrt in Slmderl¥Jd conlinued into ts seventh year, fwsing on using sports and c4xnmunity engagement to inprove edu¢ational attainment and h)b prospe&s for peopl8 of a ages. The Harrison Foundat.$ financial surwi k)We the FoundalK)n of Ughl to enha its omployablllty courses, ddNering job training, resknlffing and sodal moblty inibativès lo thwsands of p8cipantS. This (undin9 ènabled the charty to reath more indtVKluals in sUnd13nd. on& of the most ¢cononw¢Jly deprd areas in the UK. Flrst Stop Dartington is a vrtal charity that pdeS a range of designed to he inddUalS of all ages into work or resknlong. The chartty Supports p¢ople al varh)u$ staggs of th&ir employment ioumey. offering tsilored ath¢e, KaetKal job search assistanc8 and m•nial Wlh support The Harrison Foundalion's donation playad uaal rcAè in h8Lping First Stop conttnue its woth of impming 8mpWabilty OLrtcomes for ihose facing barrrs to work. The d)arity has sw Sgnfftarrt In Ing peWe r&enler the wothfor¢e. partiwlarfy through their sp159d reskiling courses.
THE HARRISON FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 Mowdon Hall, a rural sthool in NorthLrnberfand re¢fived a yrant from the Harrison Foundalion to prowde students and the Iwl communty with 8 versatile space artTSti¢ expressh)n and devebpmenl. The theatre, official known as The Harrison Theatre, Is an inspirmg and muttPu[pOse Npnue thal wlll inslil pride and confidence in all those who use it. In aildlfjon to it5 Work wi the UK the Harrison FourKlatMM r>tAled its work lo estsbfish the Harrison Centre Antigu8 and Bart>uda In$tiiute for CorrtiniDng EdutiOn. a statfrokiffrat social nTh)bty and emF4oyability centre seNIThJ both Antigua and Barbuda. The projecl irNO]ved the r9novalion of the f(¥mgr Anthjua aThJ Barbuda Instiiuts for Conlinuing Educatlw. Iransfomiing it into a modem training and devebpment lyjb. The cerrtre pwdes local residents and regional parb"upants with access to ¥(8nal training, resklling oprAKnItie$ and support services aimed at irnproving employabilty. The Harrison tre is designed to serve as a txxon for soc3aJ moknlty in the CariLknan, offering individua]s the opportunity lo gain valu skius and walificali¢)ns that wlll har their prospe($ for kntrterm economic independenc8. In 2023, Ihg Harri50n Foundation made a w0j soual mbilrty and emF4oyabilty through the a¥$ targeted (lonations and supp(t for many more key PTtiie¢ts. fAose to £1 mli Ihjn (knnaled to charl1ab initialNes the UK and the Caribbean. the Foundabon ha$ enat4ed thoUSar5 of indMdLHls to Unprove their Iiv8s through e(hJcation, tralning, job OpportUnrt. Harrison F¢)undafjon'8 in 2023 on its kwdlng to c¥eale a positi¥8 impact for years lo come. Financial review The calculation of free reserves Is based the dethition Induded In the tharity statement of recommended practice (SORPI, whlth provhde5 xMeThJa{S fr)r accounting wld fPPOTting ft)r ¢harili85. The Iru5tee$ have examined Ihe requirements of the tharilable ry)mp3ny to hLld fr88 r8ser¥es- those seOS not Invested in tsngible f assets, excluding long temi liabilities. or deswJnated for a wliuAar purpose. This exeNse rASleTed both the n<wmal rèquirements for vthwig capital and the toss of in(xYn& of a hywAh9t1 but reasonable Teduchon in the Sca of Operdlis. As a grant chartty all reserves hekj ar8 to allow grants to be mad8 as and when therè is a need. Al year end. the ch8n.ty had £17.4e6.343 (2022: £17.766.707) in free reserv68. The trusts9$ have prepared a budget and cashfiow forecast and h8¥0 conded that the d)arfty wntinues to be a gcrfng concem for foreseeable fiJlur8. On that basis. they ha ntInUed lo ath)pt the going u)ncem ba$is vthen preparing the financ4al statemerrts. 11 1$ the policy of the chaty that unrestricted funds w12i(th havo not been deSjnaIed for a speafic use should be mainlain8d at a level equwalent to btheen three and Six month's expenditu. The trustees consider that reserves at this ievel will ensure thal, in the evert of a signfficanl drop in fvnding, they wll b8 able lo DJnts"nue the charity's ¢wrrent activities while consideratton 15 gNen to ways in addtsl fvnds may be raised. This level of reseTV8$ has bean maintained Ihroughout the year. The INstees a duty to identify and reviw the to whith Ihe dwity is exposed and to enswe approwiate o)ntrols are in to 0de Teasonable a¥s(wCe aganst fraud and The charty 1$ controlled by its goveming docJJm8nl. a deed of trusL artd o)nstitules a fimited rAnpgny. Imited by guarantee, a$ dofin8d by fhe CompaniesAct 20t6. The trustees, who are otso the olrectOf3 for Ihe putpose of o)mpany law, and who serv8d thjring the year and up to the date of svJnalure of the financAat stateMts wwa: Mr DG H8rrison Mr DG Harrison Mrs S Harrison Mr NAknson (Reslgd 28 February 2023)
THE HARRISON FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {coKfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The board, wh) give their lime frey arKI no trustee5 rved Nneral10n wj the year, have con5NJered who the Key Management Personnel {KMP) of the thTty. as noted in the Reference and Administration section. Together wfth the board. these KMP are in charge of decIg. rn[j and operatirw the adivittes on a day to day basis. The pay of th8 KMP is r8viv•J annuJty and nonna inueased in ardance arage gaming$. Thg twstaes benethmark awnst pay levets of other charitses and similar wJanisab"on$ wrythii the 8e¢tu and the region. Pay18¥els are 881 using thig infomalion l(yJether WTth the Ldget and ftjrwxst irrformath)n, en8uriig that the tharity ran afford any wop06ed In(se5. The toard agree any lo temuneral1. statement of trustees. responsibilities The Iru3tee3. who are also the diredors of The Harrison FourvJal•Jn for the purpose of COTryany I, e responsible for preparing the Trustees. ReFNt and the fiTraal statements in accordan with applcab]e and Vnitsd ]Qngdom AGcwnting Stsndards (Unit8d GfjnwltyAwknJ A(unlIng Pra&iL). Company Law requires the trustees to Fwepare financaa statements for finanud y which give a true and falr Niew of the stale of affairs of the thaiity and of Ihe incx)ming resourcxs and apFdKation of resources. irKILMJing the income and exFendthre. of the tharitable rThnpany forthat yew. In prgparlng these stalem. tho trLthgs ore tt): . 8d8ct sullable nISt¥J pol¢w then thgm corOslwtr. . obsar¥e Iho methods and wnqJie5 in the Ctrwrilies SORP. . moke lUthJeMts ar¥J 8stims that r9ascubtg * t%ud - 8tste whether applicable UK Alntir) stat1$ hwe fthhed. wbJerA to arry materbl deparhires d18dosed and ewained in the finanaal statements.. and . prepare the finaal statemerts on Ihe goir¥J a)n( basis Lmless rt IS tnapprqwiate to that the ctharity I continue in operolion. The trustees a spOnsIb for keepry adeque aCnb"n9 rec¢rds Ihat disdtsse with reasonable actsracy at any time the financial rosthn of ch8ffiy arKI en8Lle them to ensure that the finan(xal statements Comp with the Cornpanies Act 2(th. They are aso reSp)nble for safeguarding the assets of the carity aThJ hence lor taking reasonabl8 Step5 for the pronI1 d8t&on of fraLbJ 0th8r Audltor In accordance vAth the compan8 arlkjes, a resokrtlon rrfopositvj that Robson LakJl¥ AttmIlantS Ltmfted bè re8ppointed as auditor of the MpanY will be put at a Genwd M88ting. Dig¢losur• of Infornmtlon to auditor Eath of the trustees has confirmed that thwe is irrformation of Ilw are aware whK* is relevant to the atbjit. bul of which the auditor is unawdTe. They fiJiher c4)nf that ttw have taken appropriate steps to identify vdjch relevant information and to establsh that the alItOr is awwe of such infornath)n. Th& trustees report was apwoved by the 8o¥d ofTrustees. Mr DG Harrison
THE HARRISON FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE HARRISON FOUNDATION Opinlon have audited tho financh staternents of The Harrison Foundation (th8 'chari for the year ended 31 Dember 2023 which comprise the statement of (Inar1 aclivits. the balance sheet. the statement of cash tlws notas to the finanual stslements, including gnificant accnting poliaes. The financial reporttng framework that has beèn applied in Iheir prep1)n 1$ applicable and Urmted lQngdom Acuunts"ng Stsndards. including Fancal Repong Standard 102 The Finanaal Reporti"ng Standanl wlic8tAe in th& UK and Repubfic of Ireland (United lQngtrJm Genera¥yAwled Accounting Practi(). In our oplnion. the fina¥1 ststem8nts'. gwe a true and falr viw of the stato of the chwitable ryJYspans affairs a5 at 31 Dwmb6r 2023 and of its incoming re50UTce5 and apF4ication of resources, indudll)g its inco and eypendilure, for the year then ended; hav• been pro prepar8d in acurdwKe wilh Urfted l(kngJom Generally Awted A¢)Unttng Pracfjcg: and Basls for ¢plnlon We ndUcted our audft in aLlXxda Tth Intemallonal Standards on Auditing (UK) OSAS (UK)) and appficable law. Our responsibli eS under those Standards a fvrthor described in the Audrtofs mSwnsilHlitS for the autht of fho finanual stat&m8nts section of our reprt We a independenl of the charity in accordance with the eth1 quirements that are relevant to our audit of the finantsal staiements in the UK induding the FRC'S Elhkal Stsndard. and we have lled our other ethKal responsibilib'es in acrdance these requirements. belleve that the audit eviden we have omaned is suthenl and appropriate to wovt(kn a basis frjr our opinion. Concluslon8 rnlatlng lo golng concern In audrbng the finanaal statements, we have o)nduded that ts Inthes. use of tr gothg conc4m ba$15 of ocojunting in the prgparabon ofthe finarKial Statern 15 apmrkts. Based on the work we have perfomied. we have Thjl identifij any material uncertaintu relating to events or c(10nS Ihal. inthv•Jualty or Lx4le(vely. may cast ggnrfv3nl doubl on the (arill$ atslty to continue as a going cern for a period of al lea51 tsvdve months from whén the financaal ststements are authorised for issue. Our responsibllities and tho rgspjnsibililies of the trustees wilh Spe1# to going concern are desuibod in the refevanl s8Ctrons of IFMS rep) other infomwllon The other infomiation o)mprises the inlonftatk)n rKlud8d the annual report other than the fin8n(#81 sl8lem8nts and our auditoi's F)rt thereon. The twslees are responsrt)le ts tho other infcffiiation contained within the annual report. Our opinion on the financial sLiternents does not cover the othèr information and. except lo thè extént otherwise explicrtty stated in our repCt. we do not express arry fomi of assur3r CLJnduskn thereon. OUT responsibilty is to read Ihe othef infomiation a. in doing so. consider whether the other infomiation is materially Inconsistent with the finan(¥al ststements or our knLwAedge obtstn8d in the COUTse of the audit, or olh8rwise appears lo be materially misststed. If we wjenlrfy sucb material inconsistenctes or apparent material misslatemenls. we are Tequired to detem11 whether this gives rise to a matsriat miS5tatemenl in Ihe financial statements themselves. If, based on the work we have performed. we condude that there is a material misststement of Ihis other information, we are reryir•d lo report that facl. We have nothiTrJ to reFx*( In this regard. Oplnlong on other maltern pre8crfbod tytho Cryanles Act 2006 In our opinion, baséd on tha work undertaken in the o)urse of our audl the f¢matIon given in the Iruslees, report for the finan year for which the fn8rtI8l slAtementS are prÈp8red. which indudes the dire¢Aors' ppared for the purposes ofY L, Is o)nsislent wNh the ffinand81 statements,. and the directOTS' report induded within truste8s' rgp¢)rt has been wepared In accoTdatKe with applicable bagal requifernents.
THE HARRISON FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE HARRISON FOUNDATION Mattors on whSoh wg ar• rU1r•d to roport by exwillon In the light of the knowledge and uThler5tanding of the dwrity and ts enmrorwnent obtained tn the course of the dit we have nol idenb'fi8d material misstatements in the thre¢tors' rfrkvi induded within th& trusto9s' re h8v8 nothlng to report in respect of the frllrywkng matters kn re[alk to whvth the Comp8nles Ac 20C6 requires us to report lo yryj rf. our opinion- adequate a(Unn9 record8 have not been kep( or retLrnS de(v for our audit have not been re¢ived . from branches not visited by u5: or the finantaal slalements are not in agreentw1th the aczounting rordS and returns.. or certaii dloSure9 oftrustees, TrMun8ra1 speufied by l&¥ ¥e not made" or wè not raceived all the inf0m1atn and 6xptanalk>ns we require for ow 8tKliL' or lh• trustaas were rwjt entitled to prepare tha anual statements in ar£ordance with the small compani8s regime and tske advantage ofthe gAnaU ¢wpanie8' exempuons in pwaring the trustees, report and from the iequiremenl lo prepare a $trategi¢ Tep Responslbillties of trustees As explained more fvlty in the statement of trustees. reSsibtEs. the trustees, who are also the directors of the chanty fr)r the PLwpose of company law. are respS1 for the preparation of the financial statements and for being satisfEd that they give a true and fair ¥te4¥. and for such intemal (wtrol a5 the trustees delemine is nece$$ary to enable the preparation of finanaal stalomènts that a f from materlal misstatement. due to fraud or error. In preparing the financial statements, the trustees are re5ponsit4e fijr assessing the chari8 ability to continue as a going concem, ¢115dosing. as apF4icabl8. matters related to going concem and using Éhe going ¢oncem basis of accounting unless the t either intend to bquidate the dwIte company or to ase operations, or h8¥e rm) realistic atemative but to (Jo so. Auditorf> regponsibilities forthe audit of the financial slatements Our objethve5 are to obtsin reasonable assurance about whether the finan(?al slalemerrts as a vthola ar• fr88 frc material misslatemen( whether due to fraud or error, WKI lo issue an audit$ pOrt tt)at includes our opinlM. Reasonable assurance is a high level of assurance but is ncl a guaTantee that an audit Ldulted in &cordan wrfh ISAS (UK) wll avaYS detect a material nysstal8m8nt it Sts. Misstatements can arise frorn frwjd or error and are const(Jeréd mateftal rf. indivhjuajty or in thè aggr89at8, thay could r8asonabty be expected lo inlluence the eojnomic de(i8NMs of users t8ken on the b8818 of thes8 finanoal statements. Thè extent to lch our WuTeS are patIe ofdebng irregular88. yUdI fraud, B detailed beh)w. The risk of MaleT1 rnisstslernent due lo or hud has been assessed in vhth how internal contro may mitigate any such risk These ts)ntrds are revpNed as part of the audit by perfoming systems walkthroughs to ensure IW are operating effecttIy. Other subslantibt testing is also pthnned on an mal8rial baLgnce8 and therefore any instance$ of noTrcomF4iance shwld be Jenlifi811 or coldered as insignifJcanL Manualjoumal entrie5 are 5c¥ub"nised as part of the audL The laws and regulations whith are Condered lo be gnIficant to the entity have been nslered. D5seussions a held managernenl to detemire whether any breSs have ¢>x#jrd as well as logal expenditure being $cnrtinised any evidence on The audit was ojnsidered capab of irwul81iiies Mly to extent of the SLknstwrtrbE testing performed and from di5oJssJns with mawenL A further desuiption of our responsibilities is availatle on the Finan1 Reporting CcAJncl8 webth aL https:11 ¥4ivw.fr¢.org.uklauditorsresF*Jnsilxliti8& This desuiption forms part of our alIto¢S rep)
THE HARRISON FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE HARRISON FOUNDATION Llse of aur report This report is madè solety to the charitable (xjmpanys memteT5, as a tthy. in acccthce wlth Chapter 3 of Part 18 oflhe Com10$ Act 2006. Our audit work has trn ertaken so that we might state lo the charitable companys members those matters we are required to state to them in an audTtorfs rÈport and for rw) other purwse. To the est 8xt8nt permitted by law. wa do not accept assume r&8ponsibitsty to anyone other than the tharitable company and the charitable companvs mwnbers as a LK#ty, for aLth worl for thi5 report or for th8 opinions we have foTm8d. tylo<- Ni¢holas Cunnlngham FCCA Isenior Slatutory Auditory for and on behalf of Rob50n LaldlorA¢Gountants Limited Fernwood House Femwood Road Jesmond NslIe upon Tyne TY and Wear Engld NE2 1TJ
THE HARRISON FOUNDATION STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unvestrl¢tod Unrostrlcted funds funds 2023 2022 Ineome from: Donations and legaci8S Inv8Stm8nts 20,0 212,864 627.708 Tolal Income 627.768 232,864 dltuye on: Charitab]e a¢tivffj9$ 9)8.132 4,703,850 Net gainO$Se¥) on intrnenlS 21,688.230 Net {expendltureVlncomo for th8 ygarf Nèt movement in fund8 1280,364) 17217.244 Fund balaS al 1 JanLMry 2023 17.7e6.707 549.463 Fund balances at 31 Dec 2023 17,486.343 17.766.707 The stat•m8nt of financial actsvib8s irKludes al gawis recogni5ed in the year. Al I]mO and axF4nditu derive from continn9 a(ivitw. Th& statement of finan actiwts8s also o)nWsith the rnquinnents for K1 experhjtiure accisunl underthe Companies Ad 21Th.
THE HARRISON FOUNDATION BALANCE SHEEr ASAT31 DECEMBER 2023 2022 Cuyrnnt assots Debtors Cash at bank and in harbj 10 73.688 17.416.120 18.763.n3 17.489.808 18.763.733 Crndltors: amounts falling duo TAthln one year 11 (997.0261 Net current as8ets 17.486.343 17.766.707 In¢om& lund$ Unrestricted funds 17,486.343 17.786.707 17.486.343 17,766,707 These fmanaal statements have been pwred In XcYda the PmNiS1O appli¢*le to mPan18S subject 10 thg Small compaThes regimo. 24th September 2024 The financtal statements were approved tythe Trustees on ......................... Mr DG H8rrf8on Trustee Company reglstrdtion number 06281130
THE HARRISON FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 C•8h tlow8 from operatlng acO¥lU8s Cash ab80rt)ed by operations 14 (1,975.381) (3,888.504) Imiostlng a¢ttvllios Proceeds from disposal of Sn¥Bsthients Investrnent income reved 21.688,230 212,884 627.76B Nel ¢ash generatsd Irom inv•sting a¢tlvitie8 627.768 21.1.[>94 Not ¢a•h us¢d in fman¢ing activilie Net (decreanC1a$o In ¢uh and c•sh •qulval•nts (1,347,613> 18212,590 Cash and cash g]uiwalents at beL¥nning rAyear 18,763.T33 551,143 Cash and ¢a$h equivalents at end olyear 17.416.120 18,763.733
THE HARRISON FOUNDATION
NOTES TO THE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 31 DECEM8ER 2023
Accountlng pollcles
Charlty inlomwtion
The Plarrison Foundation 15 a piive company limited by guarantee incorporated w) England and Wdl85. The
wstered office is Higham Dykes Hall. Wlboume. Newcasfle Upon Tyno. Tyne and Wear, NE20 ODH.
1.1 Accountlng Convention
The financial statements have been prepared in 3c£%Ydanca with the dpntys goveming documenL the
compan Act 2c, FRS 102 Tr8 FinancAal Reportt"ng StaThJard applica>le in the UK and Republic of
Irelanrf fFRS 102.) and the Clwllies SORP -Accounting and ReportirMJ by char$S.. Statement of
Recommended Practi appficable to Laiilies preparing their aOunts in acoxdance with the Financial
Reporfing SlaTrJard aptAicable in the UK and R8pubfic of Ireland (FRS 1), (effective 1 January 2019). The
tharity is a Public BenÉfft Entity as defined by FRS 102.
The fmane4al ststomths aTe prepared in $18rfmg. vthic the funrJ#)nal ¢wrrffj of tho dwrity. Monetsry
amounts in these finan statements are rounded trj the nearest L
The Harrison Foundation meets the dgfinitJn of a puith benefft entity enty under FRS 11r2. A8sets aNJ
Ilabilitios are initsally recogni5ed at histori1 cost or transactron value unless OtheSe stated in the relevant
ac£oLmting notels).
The ¢>Jmpany has appled the folj a0)junti pol
12 Golng con¢•rn
The finandal statements have be prepared crfj a IrM basls on the ground that currant and future
Sou$ of lunding or supwi will be rnore uate for the charitys need5. The Trustees have
Jn$idgr8d a perTod of 12 months from the batan( sheet date and Ca)nsider no fvrther olsck)sures Tel8tlTrJ lo
the charity's abllty to ntInue as a going 1¥nrn Ted to t made.
1J Charitable funds
Unrestricted funds can be used in awdance vlith the tharitablg otiactiNES at the disuetion of the
trustee&
Restricted funds can only be used ts partb)j restri pury)Dses thin the otiecls of th8 charity.
RestriGtions arise )¥hen sp8ofied by the domr orv4h8n funds are rai5&J for p811r restricted pur8.
Further exF4analw)n ol the nalure and PLvpose of each fmd Is the r)tes to the finan081
stal8ments.
1A Income
All inwme Is recognised in the Strtenrt of Firwicial Adr¥ts onc the charity has entTUemerrt to the fvnds.
it is probable that the InMe will bè roeeNed and thg OUnt (an measured rely.
DalK)nS are reo>3nised the charity has been notifi8d in wriling of both the 8mounl and sett18ment
date. In the event that a donatiw i8 suL4'ect to c))nd05 that requ1 a level of performance by the charity
before the charity entilled lo Ihe funds. the income deferred and Ml recognise
THE HARRISON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 Accountlng policies Iconllnugdl 1A ExpwMIIrè Exp&nditure is ré¢ognised once there is a legal or cuth(ve obfyalion lo transfer econom benefft to a third party. tt Is probabk Ihat a transfer of ea))rthiic be required in sethemant. arkl th8 amount of obligafron can be measured reliabty. Expen(knJre 15 dassified by athty. The c08ts of aoibryty are madè up of the total of direct costs shared costs. in¢iudirwJ support tts irM4ved in uThJertaknng actmty. tXre( costs attributable lo a single actNity allocated %Yire¢tty to Ihal activity. Shared costs vthith cvntribLrte to more than one actNty and support costs whth are not att.butab to a single appxxb'¢)ned bet¥n those acttvitias on a basis rx)nsislent with the use of resources. Central stsff are alkncated on the basis of time spent, and depreciation tharges are allocat8d on the portton of ihe assefs use. Ltablilies are recogrused as ex[lItyre as as 15 a W or constMctiv8 Obligath ccmmitthThJ the charity lo that exp¢ndilure, it is probable that a transfer of ec(Jnomic beneffts will be required in selNemenl and th& amount of the oblallOn can be measured rdiabty. Expen¢Srture 15 aCUnted for on an acCal$ basis and has been dassiffed Lder headings that gregate all cosl rdated to the category. Where cKJsts cannot b• directy attsibuied to pariKtlar hgadiThJ$ they ha been allocated to on a basis consistent ¥th the use of resources. Granls offw811 subl&# to colI1k)n5 thich have rnt been met at the year erld date are noted 88 a Commitme t1 not acuued as exwditwe. ChaTltable actlvluos Charitabl8 èxpenditure compiises those sts ired by th& charity in the dglivgry of Its acttwlSes and services for its bènèfitxi8s. 11 irK4udes both costs IJt can albcatsd dirècty to sud) activilies arbd those costs of an indkect nature nrtassary to SUFWt therrL Support costs Support cosls indudè centr31 functions 8nd been 8knted to acbvity cost cegorw on a ba$L8 consistent the use of T&r¢05, eXnple. albcatiThJ prowty ¢(ts by 11)or areas. or per caplta, 8taff costs by th• b"mÈ $pent and othercosts by their usage. 1.6 Taxatlon As a tharity. the )mpary L8 exempt from tsx on income gains to the extent that these we applled to ¢haTitable obiects. No tax charge5 ha arisen in the charity. 1.7 D•btoY¥ Trade debtors are re0)grSe at tha SattIa amount due after trade disrUnt offared. Prepanants are valu8d at the amount prewd after tth'rYJ afxxjjnl ofary tradè di1S due. .8 Cash at bank and in hand Cash at bank and cash in hand indud8s cash and sw term lyghty fNuid investments wilh a short maturty of three months or less from the date of acquisitton or (wiing of the depM)STt or swnilaT 1.9 CrgdEtors and provtsions Creditors and provis$ are reccgnised whare the ¢h¥ity has a prosent obatl r85ulling from a past event that wll Probably resLIt in the transfer of funds lo a third party and the amount due to Sett the obligation can be Tsred or estimated rdiabty. Crethtors aThJ wovisi(ns are normally recognised at their settlemenl amount after altcming for ary tradg discounts dug. 11
THE HARRISON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Donations and legacle8 Totsl UnrestrKtsd fwjds 2023 2022 Donations 20,000 Unrostrlctod UnrBstrict•d nds fund8 2022 151,993 60,871 Interest wpNaile 627.76B 627,708 212.864 Exp¢n(lltrre on ch•rltablo actlvlll•s Ch•rltsblg Charftable •xpgnditure •xpgndlture 2023 2022 Dlrert ¢osts Computer costs 2.307 3,1)J5 Grant fuDJing of acthrtses (see note 5) 897,075 4.697.545 Sharn olsupwl and governan ¢osts lseg not• 61 8,750 3,300 8.132 4.703.850 Analysls by fijnd Unrèstricted funds 8,132 4.703,850 -12-
THE HARRISON FOUNDATION NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 Grants payable Charltablo Charitable xtivities athrties 2023 2022 Grarts lo institutions= B(q Issue Company Social Mobility P18dge &*o(As Trust Nwaslle Unrted Board of Education Foundation of Ltqht Chronide Sunshine Fd Halo Foundalion kn¢ Tha Dales Sthool First Stop Dartington St Oswads Hosp Sick Children's Trust Open UnNerslty Other 30.000 30,000 180.0 f.000 S)1,362 4,Al,0LJ 82.000 8.103 254.976 10,000 41,466 65,713 897.075 4.697,545 Other grants payab are madè up ofsmaB8r gr¥ts p•J lo insliiubw. Suppjrtcosts alo¢4ted to actfvlll Charitabl• Total 2023 2022 GovemorK 8,750 3.300 2023 2022 Govwnan¢• Costs ¢omfv: Leg81 and yofessn81 Audit fees Bank ehargas 5.173 112 8,79) 3,300 Trte NcTh of the trustees { Wby peTh 0)rTh( vlilh them) recer1 any remuneration or benefits from the tharty during the year. -13-
THE HARRISON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Employ• The average ffthfy numbar oferkn during the year was: 2023 Numb•r 2022 Numbgr Total AmJnIS paid to person1 in the yeartclaled £nl12022: £nlD GaSns and10gses on Invostmonts funds 2023 nds 2022 GalnslOoss•s) Arising on: Sole of investment8 21.688.230 10 Debtors 2023 2022 Amounts falmng due wlthln one Prepayments and a¢c¥u8d inojrne 73.8 11 Creditors: amounts fallng du• wilhin one year 2022 AoJua16 and deferred inL) 997.026 Induded within aC(al$ and defèrred income is £nil 12022 . £993.726) In respect of granls agreed by the Trustees but not pabj before the year end. 14-
THE HARRISON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (coKfiNUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 12 Unrestricw funds Tho uN8Stri¢#8d ftmds oftho thwity comwi8e the ofdonatKffi$ grants %thich are not subjecl to spe(ifiG conditions by dc and grantors as to how thèy rnay be used. These indude designated fvnds which have been set asle ouk of unrestrictad fvnds by thè trustees for specific purposes. At 1 Jnuary 2023 Incomlng Resources r•sourc•s •xpond•d Galns and At31 losses Docemb•r 2023 GOnw ftjnds 17.766.707 827.768 19J8.132) 17.488.343 At 1 January kn¢omlng Ro$oUr Gakns and 2022 rpsouTceB expend•d At31 D•¢omber 2022 Gener81 ndS 232.864 (4.703.850) 21.688,230 17.706,707 There were no disdosle lated p•ty trnwa¢ons Ojmg the year12022. rxine). 14 Cash generated frqKn op•rntions 2023 2022 (Defiejtysurws for the year (2802641 17217,244 Adju$tmonts for Investment rthme recognised in statamènt of acviiie8 Gain on disposal of investmants (627.768) {212,8641 (21,688,230) Mov8ments worthg Iptal. Uncreasel in debtors (Decrea5eifincrease in c¥o(fftors 173.688) 1993.561) 995,346 Cash absorbod by opornllon8 (1,975.381) (3.688.504) 15-