Charity registration number 1119946 (En9land and Wale81 ompany registration numbèr 06281130 THE HARRISON FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE HARRISON FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Tru$tee8 Mr DG HarTison Mr DG Harr75 IArs S Harrison Se¢r•tsry Mr S Ruller Charfty numbor (England and Wales) 1119946 Company nurnber 1%281130 Regi•t•rod offlc• Higham ke$ Hall Milbourne Newcastle Ty Tyne and Wear NE20 ODH Auditor RObSc Lai(ler Accountanls mited Fernwood Ro Je5mond Newcaslle Up Tyne Tyne and Weal England NE2 1TJ
THE HARRISON FOUNDATION CONTENTS Page Trustees, report Independent audrtor'5 rep1 Statement of fnanoal activibes Balare sheet Notes lo the linanc4al staleff*nls 11- 16
THE HARRISON FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The tnJstees presenl their annual ieport and financial statements fof the year eThJed 31 December 2024. The fiiiancial statements have been prepared in accordance with Ihe accounling pl11e5 sel oul in note 1 10 the fii)ancial slalernenls and comply with the chanly's goveming document. the Companies Act 2006 and "Accounling and Reporling by Charities.. Slalement of Recommended Praclice applicable lo charitie5 preparing Iheir accoun15 In accordance with the Finanaal ReportlTr3 Standard applble in ihe UK and Repui4iG of Ireland (FRS 102) leIfe1ve 1 January 2019)" Oblectlves and a¢tiviti¢s The n3aiTr aciiwlie5 of the charity we donabons lo a Imrted number of cau5e5 With speafic prciecls and aim5 earh year. Fundraising disGlo8ure8 Tho charity is requiied lo rewrt how il deals wth fvjndraigng from Ihe public_ The charity does not Llse a professional lundfaiser or commerc5al participator lo raise funds. Any monEs r&sed direcrfy from the puljic follows all guidelines set out by the Charrty Coii)niission and UK law in every re5PQCt. Ne respect privacy and conlad preferenS ol all wblic donors. The trustees have paid due regard lo glA"da issued by t Chanty commiss in decidiiig whai activities the charity sliould uiidertake. Achlgvemants and performance 111 2024. the Harrison Foundation remained Ime to its rnts5n 10 prtjnole soc1 mobility and empoww individuals Ihroiigh aGce5$ to e(Jucalw, training and uliimaiely job Opportunit$. The Foundation dorialed over £625.000 10 charitable or91$a.0[is auoss the United Kingdom and Anligua arKI Bart)uda. Thts support Yed a vrtal rc4e In enabliNg these organisalions to delver Iransformalive sefvices in Iheir communitses. Iiilernalionalty. Ihe Foundation pYovide(l a mapf donation of £400.000 lo the Antiqua and Barbiid8 Board of Education In 2024, as part ol over £.3 milion Ihal has been donated lo date lo conlfjnue developing the Harri Centre Antigua and BarbJda Inslilule lor Continuing Educatn. The Cenire offers vocational training employability SUFVOrt to reswkn15. thus eating new cswlunilies l(x people in the regM)n, Sin¢e relo¢alsng lo ils purpose.buill faulily. the Harrison Centre Antigua and Barbuda Inslilule for Continuiro Education has seen impfessive levels of enrolmenl and programme expansion. In the 2024125 academi¢ yeBr, the Centre enrolled 657 sluder)15- 423 In the day programme and 234 In evening programmes - viilh 399 nle and 258 female learneTs. Among day students, 269 were in Iheii firsl year, while 153 conlinued into their second year. NolaL4e enfollmenl growth was rec£>rded In topics induding auiom(Xive Serv$. which Incxeased from 12 10 29 sluden15.' plumbing which grew Irom 11 10 34. and relrigeralKm where enrollmenl irveased Iroiii 21 10 31_ Electrical inslallalion gfew lo 34 new students while female-led Pfogrammes such as COSr?ieloI09y 126 new students) and secretarial studies 1531 benefited frorn modernised labs and classrooms. These improvements. made POSSibk by Harrison FoLJndalion funding, have direclty impioved training capauty quality awKI safely. The eveni1i9 programmes cOntUe lo offer fiexible. higPHmpad learnry for adults. enrolling 234 sludenls across a ranqe of ITades including welding, plumly"ng, electrical. felrigeralion as well as beaijlv therapy and nail ler.hnology. The Cenlfe's outreach efforts. irtluding partnership with sthtx)Is and Ihe Cabinel ol Anligiia arid Barbuda, have helped engage al-risk young men. while sd)olarships have reduced finanoal barriers lo edtjcalion. Every student participates in work-based learning with local businesses. 5UPPOrting pathways ii)to employment or eiilrepieneurship. Staff develoF4rEnl ha5 also progre55ed, vth faculty training delivered through the Grenada Tidlwlilly Ayviiby, vri(Ibliiiy dvlivviy vl C(*iitJLt41i Voct3Ehinal aualifiGatNin5 (CVQ31. With growng national relev8nce nd cunlinued community support. the Harri50n Centre has bec(xne a re¢(yJnised engine of economic opportunity and indUSn across AntKJua and Bart)vda.
THE HARRISON FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 In Ihe Unilod King¢*)m. the Harnson Foundatson maintained its stroTrJ cornrThlmenl lo projecis In Ihe North East ol Eiiglaiid an area laung pefgstenl chalenges around uneniploymenl. Notable amon9 these was ongoing yipport for the Newcastle Unsled Foundation (NUFI_ which has received ovef £630.000 in gran15 aiid eoinii)Ilmenls f(oni the Harrison Foui)dalion lo dale. In 2024. the F'oiindalion provided further finai)aal assistarKe lo the Hamson Centre based al NUF and began a wsder partnersl)ip with NUF and six secondary schoo15. C/nmbsned. these iniliatives helped hundreds of young people develop cntTh21 skills In digilal lechnobgy. job readiness and leade15hip. During the year Ihe Harrison Cenlre Newcastle. based al NUF. was acce55ed by over 2,Ot>O individuals. offe¥ing fre.e use ol high-spec equipment. popular games and Immersive learning sessK)ns lo community group5, schoo15 ai)d B TEC sliidenls The Foundalion-5UPPOrted B TEC Esports programme engaged 40 sliidenls116 al Level 2 and 24 al Level 31 iri 2024 buildii)g palliways into the gaming, digilal and technology seclois. Since the prcgramme'5 Inception. a loial of 158 stiidenls have enrrftlled. with Ihe of securii)g apprenticeships and employment. The Foundation of Light IFOLI. another long-stsnding parlner. received 5Libslanlial support lo deliver programmes al the Harrison Centre Sundefland. To d3le more than £6,[100 has been donated by the Haffison Foundation towards the Foundation ol Liglil's einployatm'lily inilialives and In 2024. the Harr150n Centre suppuited 263 learnws. Including 14 aged 16-18. ol whom 86°k progressed lo either further educalion or employnient. Among 249 adult learners 53°A swxessfully moved on lo further educalion of empk)ymenl Importantly r>1 the 55 learneis who prt)gressed ii)lo employmenL 87QA remained in WC after six monihs, demonstrating the long-term effectiveness of tliese programmes. 'rhe Harrison Clre also collaborated wlh local etnployer5 such as Vanlec, resulliiig in 22 learnefs gainiiig lull-lime einplDyment after completing a tespoke four-week employabrfily programme_ Meanwhile. new pathways were developed in sectors induding health arid social care. con51riiction. esFYJrts. and creative industries. ensuring relev311ce io the region'5 evofving lab1[ ma¥kel. In London, the Fwndatson conliriued ils support of BKJ Issue lotaHing £220.000 lo dale. In 2024. the Harrison Fouiidalion contributed £30.0(XJ lo its mi551on of helping people experiencing homelessness or 5evoro disadvantage find rouies into eMpk)yri1. Ths relS the Foundation's broader commrtmenl lo enaUii)g diyriily and sell-sufficiency Ihrougli enterprise. In 2024, the Harrison FoundaliDn rApnlinued lo make a prof(MJnd impaa ifvough strategic donations 10 largeled organi5alions. Wilh over £625.000 given io charilable Iniliatives acr055 tho UK and the Caribbean in 2024 alone Ihe Foundaltr)n enabled thousarKls of InthvKluals lo move cbser lo econonmc slatslity and rersonal luffilmenl. The Foupdation's focu5 on education. employakn.lily and emp(yHennenl continues lo (kNe positive chai)ge and bJild a 9¥¢Y of opportunily for futurè generalK)ns.
THE HARRISON FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Flnanclal revlew The calculation of free reserves is based on the definitK)n In(kned in Ihe ehafily slalement ol reGommeThded praLl1 ISORPI. which provides recomrnendalions for accounliryj and reping for chanlie5. The trustees have examined the requifemenls tsf 11)e ¢hariiable ctynpany lo hohj free reserve5- those reserves nol Invesled In tangible fixed assets. excluding long lern7 liakj'lilies. or degnated lor a particular pu(pose. This exerry5e considered both the normal requiremenls lor working capilal and the loss of income ol a hypothet1 bul reasonable reducts.on in the scale of Dperalions. As a granl charity all reserves held are lo allow grants to be made as and when there 15 a need. Al the year eTrJ. the tharity had £17.112.264 (2023. £17.486.343) in free reser. The charity holds significant reserve5 In Ihe of Inveslmenl capital. These reserves are maTrnlained lo geneiale a sustainable level of income that enaNes the chanly lo continue awarding granls and luifilkng rts Ghafilable objeGlives. The Iruslees consmler this approach to be the m051 effeclive way of securing the charrtls long.term financthl slability while also retaining the fiexIbdY lo iespond lo chawes in flding or emerging needs. The Ifuslees have prepared a budget and cashflow forecast arvj have cor£Ie that the tharty contini)es lo be a going concern foi Ihe foreseeable luture. On Ihal basis. Ihey have continued lo adopt the goiiig c()ncern ba5 when PTepanng the finanoal slaleinenis_ The Iruslees have a ¢Juty lo ldenb.fy and rewevl the risks lo whith the chanty is exrMJsed and lo SUre appropriate controls are in place lo piobide reasonable assurance against fraud and erior Structure. govgm•nce and m•na9ement The cliJrily is conirolled by Its governing documgnt, a deed of trusl. constitute5 a limited company. limited by guarantee, as defined by the Compaiiies Acl 2006. The Iruslees. who are also the direrAors for the purpose ol company law. who served thnng Ihe yeaf and up to the (Jale of signature of Ihe financial siatements were". Mr DG Harrison Mr DG Harnson Mrs S Harrison The board. who give Iheii Iifne ffeely aiid rK> trUeeS received remuneratson In the year, have considered who the Key Management Personiiel (KMPI ol Ihe chanty. as noted In Ihe Reference and Admin151Talion seclion. Together th the board. these KMP are those In charge ol direciing. running and operabng Ihe acliwlies 01) a day to day basis. The pay of the KMP IS reviewed annually ai)d normalfy increased in accordance with average e8rnings. The Iruslees benchmark againsl pay levels ol other chanties and sinilar OrganisatnS wlhin Ihe 5eclor dnd Ihe legion. Pay levèls are sel using this Inf0rn11¢ lion logeiher wilh the tyAgel aiid forecast Informalioi). ensuring Ilial the charrty Gan afford any proposed mueases. The then agfee any uplrfl lo remunefalion. Statement of tNstee$' re$ponsibilities The Iruslees who are also the directors of The Harrison Foundalion for the Pufpose ol company law. afe responsible f(Y preparing the Trnslee5' Report and Ihe finanaal slalemenls in accordance with applicable law and Uniled Kingdom Ac¢(xJnling Standards (United Kingdom Generally Accepted Accounling Practice). Auditor Iii accordance with Ihe company's wtides a resolulism woposing that Rob5 LaHJler Accountants Limiled be roappoinl•d 4$ 3ud¢lor OF the eornpany will be pjt at a Ggneral hAE4Pti
THE HARRISON FOUNDATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Dlsclosure of infomiatlon to oudltor lach of the Iruslees has confirmed Ihal there Is no informalicrf) of which Ihey ale aware whith 15 ielevanl lo the audil, bul of whh Ihe au(*'tOf Is unaware. They have further confirmed that they have taken aFvopriale sleps 10 Identify such relevanl infofniaiK)n and lo eslat4ish Ihal the auditor Is are ol such Inforiiialion. The tru51ees' report was appfoved by the Board of Twslees. MT DG Harrison Trustee Dale. 2610912025
THE HARRISON FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE HARRISON FOUNDATION Oplnlon We have wdiltd the finanoa stalemenis of The Harrison Foundation {the 'chanty'l lor the year ended 31 December 2024 which comprise ihe slalemenl ol financlal aclivits, the balance Sheet. the slalemenl of cash flows and notes lo tho anCIal statemenls, indlidiry significant accountin9 policies. The linanual fepwtiro framework thai has been ¢ipplied in tlieif preparali(xi Is appIK?ble law and United Kingdom AccoLJnting Standards. including Finai)cial Reponing Sianijard 102 The Financial Reporting Sta1 in Ihe UK aiKI RepublK of lTrlaiid Iurhiled ngdoM Generally Accepled Accounting Pfaclicel. In our Op10. the financial slalemenls. give a true and lair of the State of the charilable MpanY'S affairs as al 31 December 2024 and of it$ incoming Tesources and application of resouices. Idl9 ils Income ano experture. the year then ended. have been properly prepared in accordance wlh Unrted Kiwyn GenallY Accepted Accounting PraCte.. and have teen prepared in actordance with the requirements ot the Companies Act 2LXN5. Basis for opinion Vle ndUcterf oui audit in acu)rdOn¢ with Inlernaiional Standards on Audrtllry (UK) (ISAS (UKII and applicable law. Our responsibilrties under tlSe standards are lurlher desrribed In the A1[)1,& re&POflS(Ipililies for authl ol thf> finrlncial slf3tofflonl.F 5QCtion of our report. We afe independent ol the charity In accoroance with the elhcal requirements that are ielevanl to our audit of the fi"nanck41 5talemenls in the UK, Including Ihe FRC'S Elh'eal Slandard. and we have fulfilled our other ethical responsikylilies In accordance with IeSe fequirements. Ne believe Ilial the audil evidence we have obtained Is suffiuenl and appropriate lo prowde a basis for our opiniori. Con¢lusion8 rèlating to golng conc•rn In auditing the finan¢Aal staiemenls. we have conduded Ihal the Iw51ees' use of the going concem basis of accounting in the preparathon of the financial sialemenls is approkle_ Based on Ihe work we have perforrwl. we have nol identified any material uncertaint$ relating to events or coiidilions that. indivmlually or colleclively. may cast signifi.cant doubt on the chanty's ability lo conliriue as a going concem for a period of at lea51 twefve months fr(xn wlEn the Statem15 are aulhorised lor Issue. Our responbIlItS and the fesp0nsibih1 of the tn15tees th resped lo goiNJ conwn ale IlescTibed In the relevant sectKsns of this report. Other inforniation The other Inlorrnalion comprises Ihe InlDfmalion induded in Ihe annual iepon othei than the financial slaleTngnts and our auditor's report Iliereon. The irusiees are responble fcrf the other Informab'on contained syilhin the annual report. Ouf opinion on the linancial slalemenls does not cover the other infoimalion and, excepl lo the extent oihewse explicilly staled in our report. we do noi express any form 01 35SiIT3nce concliisK)n Ihereon. Our responsibility Is to read the olhei inloimalion and. in dng so. conder whether the other informaion is malenally inconsislenl with the finanaal statements or our knowledge oblained in the course of the audit. or otherw15e appear5 lo be malerially misslaied. 11 we Identify such malerial inconsislenaes of apparenl material rn15Stalemen15, we are required lo delemiine whether this gives nse lo a matenal misslalemenl in Ihe financial slaleinenls Ihemselve5. If, based on the work we have rrformed. we ¢onclude Ilial there Is a material misstalemenl of tlws othef mformalion, we are requwed lo report thai fact. We have mlhTrno 10 report in It¥"s reqard. Opinions on other mattor8 pre3¢ribod by the Companle8 Act 2006 In our opinmy) based on Ihe work ui)dertakeii the course of our audit" the t0[MatI(l given iii the ITUStees' report for the financkil year for Vdliicli Ihe financial sialeineiils are prepared. whth Includes the diredars. repoil prepared lor the purposes ol Gompany law. is consistent wilh the rinancial slalemenis" and the directo. ieport Included wtlhin trustees. report has been prepai'ed in accordance wth appkable legal fequiremenls.
THE HARRISON FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE HARRISON FOUNDATION Matters on which we are required to report by exception In the light ol the knowledge and underslandii)g of Ihe charily and tis enwronment obtained in the rA)urse of the audil, we liave not thnlified maleiial misslatements In the dKector5' rewrt in¢kxJed wrthin Ihe tfusiees, rerth. l•Ve have nothing lo repxl iii cespect of the following malters in relation to the Ccffjpanies Act 2006 requires us to report lo you Il. in our opinion" adeqiiale Ir GC(Trllflting rerS have not beeii kept. or returns ajequale f(Y ouf audrt have tv)1 been ieceived fr11 bfaiiches iiol visited by us." or the linancial s18lements are not In agieenienl with Ihe accoui)ling records and reiums,. Of certain disclosures of Iruslees. remuneration speafied by law are not made.. or we have not received all the information and explanations we requife for our aLrt.. or the Iruslees were nol entitled lo prepare the fiftaiiLd sialements fft accofdance with the srnall compaiiies regime and lake advantage of the small companies, exemptions in prepanng the Iruslees. report and Irom thB iequiremenl lo prepare a slTalegic report. Rosponsibilit"es of tNstees As explained inore lully in the s13lpmenl of Iruslees. reSpOnbil1es the Iruslees. who are also the direclors of Ihe charity for Ilie purpose af coiiipany law. are responsible tor the preparation ol ihe finanryal slaleiiienls aiid fow being satisfied that they give a Ifue and fair vievi and for such inlefnal conlrol as Ihe Irusiees delerrnine 15 necessary lo enable the preparati of financial slatenients that are free from material rnisslalemenl. whether due lo fraud or erTOI. In prepaiing the financial slalemen15, the Iruslee5 are rtsponsible lor aSSesng the chanly'5 ability lo continue as a going concern. disclosing. as appts'cable malle(s related lo going concern and Ung the going coi)cerii basis of accouniing unless the Ifuslees eilhef Intcnd lo qUIdate the charilable company or lo cease operations Of have no realistic 31iernative bul lo do so. Audltorfs responsibilities for the audit of thg financial statom•ntg Our obie¢lives are Ici oblain reÉisonable assurance about whelhec the finanrAal statement5 a$ ¥ Who are free Irom malerial misslaiement. whether due to fraud or eryor, and to issue an audilor's report that includes our OFynir Reasonable a55Lirance 15 a high level ol assurance bul Is not a guarantee that an audit conducted In accordance with ISAS (UK! wil alay$ delecl a malerol misslatemenl when il e¥16ts. Misslalenienls can arise from fraud or error and are con51dered material if Individually or In Ihe ¢19greg2le. Iliey coul(f reasonably be expected lo influence the economic decisioiis of users taken the basis of these finanoal slalemenls. The extent to which our rmocedwes are capable of det&ting Irregularitses. including fraud. is detailed below. The risk ol material misslalemenl due to error OT fraud h35 been a55e55ed conjunclion with how internal contrd5 rnay mitigate any such lisk. These conlrols are reVled as part of Ihe audit by perfofming sy51oms walklhfoughs lo ensure they are oFeratiiig effectively. Analytical reVW and sub5tanlive lesling 15 also perftsfd on all material balance5 and therefore any instances of non<omplianr£ should be entIfIed or eonsidefed as 1nspjnifici1*. In Identifying al a55es5ing nsks of niaierial nmssialement In respect of IrWan1ie$. including Iraud. the audit engagement lear)i oblained an undeislaiiding of the naiuie ol the induslty and sector, Induding the leg81 and regulalory Irainework. which the chanty operales arKJ how the charrty complies with that le9al an(i re9ulalory frarnework Inquired wilh maiiagemenl and those charged with govemance about their o¥vn idenillicaln and assessmeiit of the nsk5 of Irregiilarilies induding ai)y know actual suspected or alleged Instances of fraud di?d with nianagcmcnl arid thowc chw9cd with 9ovcrnancc any non compli)n¢& wilh laws and fegulalions and how IrauJ migm occur wKIiKling assessmenls of and where the finanaal slalernent5 may be susceptible lo fraud. Tlie risk ol nianagement oveinde of contro15 was a150 (nsidered an area of poleritial misslalement due lo fraud. Audit procedures performed included leslirig ol maiiua journal enl¥ies and other adiustmenls and evaluating the business fdlioiiale in relakn.on lo Swnilant. unusual transaction5 anrj tran5ath"on$ enleied outsi(le Ihe rlMa1 course ol busines5.
THE HARRISON FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE HARRISON FOUNDATION Tlre are iherenl limrtalions in the alt prccedures de5cnbed atove aTrJ the primary iesponsibility lor the prevention and detection of legarltles d9 fraud rests wdh managemeiil. As with any audit. there remained a risk of non-dele¢tion of irregularilies. as these may Yb¥olve ColknS. forgery, inlenlK)nal omissioi)s. misrepresentations Of the ovemde ol internal controls. A lurthei description of our responsibilities Is availab on the Financial Reporting cCI[S websiie ai, hllPS'II ww.trG.org.uklauditOTsresponsibilitie¥. This descnption forms part of OLèI auditor's repcw1. Use of our report This pOrt Is made 501ely to the charitable npanY'S member5. as a body. In accordance with Chapler 3 of Pèrt 16 ol the Coinpanies Acl 2006_ Our audit Vlofk has been undertaken so Ihal we mighl slate lo the charila*Je compai)y S members those matters we are required lo stale lo them in an audiior's rep and for no other purpose. To the fullest exlenl permitted by law. we d<J accept or assume resFonsitslity lo anyone other than the charitable tompai)y arid the charitable company s members as a body lor our alidrt work. for IhTrS repjrt. oi lof the opinions vie have fomied. Nicholas Cunningharn Msc Bsc FCCA (Senior Statutory Auditor) for and on behalf of Robson LaidlgrAccountsnts Limited Statutory Auditor Fefnwood House Fernwood Road Jesmond Newcastle upon Tyne Tyne and ar England NE2 1TJ
THE HARRISON FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrn$trlcted Unreslri¢ted funds funds 2024 2023 Notes Inveslmenls 644.484 627.768 Charitable actsvities 870.gJ9 908,132 Nel gainslllosses) on inve5trnenls 1147.654) Not movement in fund• 1374.079) (280.3641 Fund balances al 1 January 2024 17.486.343 17,766.707 Fund balan¢o$ at 31 December 2024 17.112.264 17,486.343 The slaleir)enl of financial aclimlies indudes all gatns and losses recognised In Ihe year. All income and expeIlure derive from continuing 3clivilte5, The statement of financial activities also c4Jnplies the requitement5 for an in¢ome and eXditure aecounl under the Companies Act 2006.
THE HARRISON FOUNDATION BALANCE SHEET AS AT31 DECEMBER 2024 2024 2023 Notos Fixed assets Inveslrnenls 9.736.064 Current assets Debtors Cash al bank and m hand 10 38,151 7.341.709 73,688 17.416.120 7.379,860 17.489,808 Credrtorn: amounts falllng due within Qng year 11 3,660) {3.465} Net CUent assets 7.376.200 17.486,343 Totsl assets less curvent liabilitles 17.112,264 17.486.343 In¢ome funds Unrestrted funds 17.112,264 17,486.343 17.112.264 17.486,343 These finanaal 51alemenls have been prepareo accwlan¢e T•tt) the prowsions 41pb'cable to companiBS subject lo the small conipanies regime. 26rtW2025 The financial slalemenis wefe approved by Ihe Trustee$ on ......................... Mr DG Haffison Trust¢¢ Company T•glstrntion number 06281130
THE HARRISON FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEM8ER 2024 2024 2023 Not08 Cash flows from operating activities Cash absorbed by operalions 14 1835,1771 (1.975,381) Investing activities Purchase of investments Proceeds from disposal of wwestmenls Investmerrt Inco rncewed (10,CQ2.738) 193.020 844.484 627,768 Net ¢ash lused inllgenerated from investing a¢tivitio$ <9,239,234> 627.768 Net cash 9en¢rated from financing activities Net decrease In cash and cash equivalents (10,074,411) {1,347.613) Cash and cash equNalenls at beginniry of yèar 17,416.120 18,783.733 Cash and cash •quiv•hnts at ènd of yèar 7,341,709 17,416.120 10-
THE HARRISON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounling policio¥ Charlty inlonnation The Harrison Foundation is a private company limiled by guarantee incorroraled in England and Wales, The regislered office is Higl)am Oykes Hall, m11bJTDe. Newca5Ue Upon Tyne, Tyne and Wear. NE20 ODH. 1.1 Accounting convention The financial sialeii)eiils have been prepared in acmrd3nr wth the chanly's governing document. the Companies Act 2006 FRS 102 -The Financial ReFyling Slaiidard applicable In the UK ond Republic of Irela1 I-FRS 102) and the Chairties SORP "Accounting and Reporting by Charities Slatemenl ol Recommended Praclice applicable to charities PTeparing Ihe¢r ac¢ourils in accordance with the Finaneial Reporting Standard appli1ble in UK and Reput4ic of Ifeland IFRS 1021" leffeclive 1 January 2019} The charity ts a Piiblic Benefit Enltty as defined by FRS 102_ The financkal staiements aTe prepaied in slerlirvj. whith 1$ Ihe furti(al currency of the chanly. Monetary amounts in these linala1 statements are rcvnded lo Ihe nearest £. The Harrison Foundation meet5 the definrtion of a publt beneffil enlrty ei)lry uThJw FRS 102. Asset$ and Iiabililie5 are initially recogr#sed at hisloTi¢al cost or transxlion value unle55 otherSe slated ii) the felevanl accounting policy I)e(S)- The company has applied the folowing )Untirj poIles.. 1.2 Going concern The financkal slalemenls have been Prepared on a gThng wicern basis on the ground Ihal currenl and future SIrS of funding or 5UPPOrt will be more Ihan adequate for the chanly's needs. The Tfuslees have onsidered a period of 12 months from the balance sheet dale and coiisider no lurther disclosures rolaling lo the charity's akn.lity lo continue as a goKMJ concern need to be made. 1.3 Charitsbl• funds Unreslricted funds can be used In aco)rdance wrth the charilat4e objeclNes at the disGretiM of tl trustees. ReStrle0 funds can (th be used for particular ieslricled purF4)ses wrthin the obiecls of the tharity. Reslrth'ons arise when specified by the donor ¢y tten fimds are raised for particular feslricled wrposes. Further explanation of the nature and WfFose ol e&h fund Is Induded In the notes lo the financ1 slalement 1.4 Incom• All Income 15 recognised irr the Statement of Financol Acliwlies once Ihe charity has enlitlemenl lo the lunds, It 15 probable that the iiicome will be (eceive(l and the amount can t measured tely. Oonalions are recognised when Ihe charily has been noiified In writing ol both the *nouiil aiid selllernenl dale, In the evenl that a donalion is suilect lo conditions that require a level ol pertofmance by the charity belore the charity Is entimed lo Ihe funds. the income is deferred and not recowised uiilil eillier those conditions are fully mel. or Ilie lulfilmenl of those conditKNIS 15 wholy wrthin the control ol Ihe charrty and Il ss probable Inai Inese conailms will De fulfilko in Ihe rewning peiioa. 11
THE HARRISON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng polities {Continuedl 1.5 Expendlture Expenditure B recognised on¢e Ihere is a al or conslnictve oblwalion lo transfer eCMiC benel¢l lo a third parly. il is probable that a ITan5fer of econornic benefit% will be tequired iii seiiiemenl. an(1 the amoiinl ol the obhgation can mea5wed reliabty. Expeiidilure Is classified by activily, The c051s ol eath acitvily are made up ol the lolal of dbr1 costs ai)d sh1red cos15, includin9 SUPPOrt cosls ii)volved in undertaking each activity. Dired cosls attTibul8ble lo a 51ngle a¢tivily are allocaied directl¥ lo that actrvily Share(1 costs which contribute lo more Ihan one aclivily and support costs vjhich are nol allribulable io a ngle activity are apportioned belY4een IPbJse aclivities a basi5 consislenl with Ihe use ol resl[CeS. Central &taff costs are allocaled on the basis of time spenl. and depfecialion charges are alk)caled on Il porti'oii of the asset's use. Liabilitie5 are recogi)ised as expenditure as soori as there Is a Segal consiructive obligalior¢ comrTiitting Ihe charity lo that expendrture. It Is probaNe Ihdl 3 Iransfef of ecC¥IC benefits will be reqiiired in selllemenl and the amounl of the obligaliol) can be measured relw. EKp8rKlIt(&re 15 accouiiled for on ali accrua15 ba515 and has been classified under headings that aggregale dll cosi felaled lo the category. ere cosls caniTrol be diredly attributed lo particular headings Ihey have been altcaled to activilies ori a basis consislenl with the use of resources. Gfanls oltwed su'eCI 10 cLw)dilions which ha 1 been mel at the yea( eThJ dale are noted a& a commitment bul not arxrued as expenditure. Charitable activities Chafilable expendiluie comprises those costs Incurred by Ihe ¢liarity in the delivery of ils xtivities and servi5 for ils beiiefic13nes. It Ino4udes bolh costs Ihal can albcaled direcily lo such aGLwilies arid Iliose costs of ?n Indirert nalijr? nerSSary to Spport Ihem. Support costs Support a)51S IrKISe central functn$ and have been alloLaled lo acliwty cost categoTie5 on a L%351S consisiei)I bwlh the iise of resources. for Èxaiyiple allccaling property costs ty floor areas. or per cata. staff Costs by the lime spent and Olher costs by Iheir u58ge. 1.6 Flxed as$el inveslments Fixed asset Investments are inrtially measufed at transaction pri exdiiding Iran5acliDn costs. and are sijbsequenlly measured ai fair value al each rerM)rting dale. Change5 In lair value are recognised nel incoineJ(expendilurel for the year. Transaction costs ale expei)sed as incurred. 1.7 Taxats-on As a chafity, Ihe con¥>any 1$ exempl from lax on IToffie and gwns lo the exlenl Ihal these are appked lo charilable oty'ecis_ No tax charges have ansen In Ihe tharity. 1.8 Debtors Trade deblors are fecognised al the settlement wnnunl due after any trade discount olfered. Prepayments are Valued al the amount prepad after lakmg aecounl ol any Iiade discounts due 1.9 Cash at bank #nd In hand Cash ai l>ank and cash In hand Indudes cash and short term hiyhly liqu investments with a short malufily of three month5 or less fiom the dale of acqui&twxJ 01 opening of the deposit 01 5irriilar account. 1.10 Creditors and provisions Cre(Jitors and provisions are fecognised whefe the charity ha5 a Pfesenl obligalK)n resulting from a past event Ihcil i'jill probably Tesull in Ihe Iransler ol funds lo a third parly and the aii)otsnl due to settle the obligation r.ail be measured or estsmaled reliably Creditors and FYOViSK)ns are nofmally reccgnised al their selllemenl amount after allowing lor any Ifade disc<Amls due. 12-
THE HARRISON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Investments Unrestrl¢tÈd Unrestricted funds funds 2024 2023 IrKoTh from VeStmentS Interest receivable 13.238 631.248 627.768 644.484 627.768 Expenditu on charitable activilies Charitablè Charltable expenditure expendilurg 2024 2023 Direct costs Computer costs 2,307 Grant funding of aclivilies (see note 4) 861,701 897,075 Share of support and governance costs1800 nots S) Governan¢e 9,208 8,750 870,909 908,132 Anal•9 by fund Unreslricled funds a70,9 908,132 13-
THE HARRISON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Grants payable Charilable activiti0$ 2024 Charitable dclivilies 2023 Grants lo inslrtulions: Antigua Barbuda Board of Education The Newca511e United Foundatp The Bi9 Issue Homes that La51 The Dales Sthool Foundali¢Yé of knghl The Halo Foundabon Paul Parson Sl Oswald$ Howce Schools Trust Other 515.089 193,$00 30.000 22.845 7,075 80.000 6,692 501.362 60.(KJO 30.(MXJ 20.000 220.000 65.713 861.701 897,07S Support ¢o•ts •lloc•t0d to activiti•• Cttarilablfr expendlture 2024 Toial 2023 Governanee 9.208 8.750 2024 2023 Governance costs comprise: Legal and profeSonal Audit lees Bank charges 5.000 3.663 $45 5.173 3.465 112 9.208 8.750 Tru8te•8 None of the trustees (or any persons o)nneded wrth them) receNed any femuneration or benefits from the tharity during the year. 14-
THE HARRISON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Ernployees The average monlhly number of employees during the year was: 2024 Numb9r 2023 Number Total Amounis paKI lo key management personnel In the year ialed £nd {2023.. £nil} There w8ro no employees whose annual TeMuneran vas more than £60.01)0. Gains and losses on inveslmonts Unrestricted Unre$lricled fund¥ lunds 2024 2023 Gain&l{lossesl ansmg on: ReVakn8i of whveslments {147.654> Fixed asset investments Llsted investments Cost or valuation Al 1 January 2024 Addilions ValualM)n changes Disposa15 10.082,738 1147.654) {199.0201 Al 31 December 2024 9.736.064 Carrying amount Al 31 December 2024 9.736,064 At 31 December 2023 10 Debtor• 2024 2023 Arnounts falling due within one yoar. Prepayments and accrued income 38.151 73.688 Is-
THE HARRISON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Creditors.. amounts falllng due within one year 2024 2023 Accruals and deferd incA)me 3.660 3,465 12 Unr&$trlclod lund$ The unre51fiCted fund5 Of Ihe chdiily comprtse the unexpended balances of donations and grant5 ¥Yhich are not subject lo specific coiidition5 by donors and grantors as lo h¢YW they may be used. These iiidude designated fiinds vihich have been sel aside tsul uf uiireslritted lunds by the Iruslees lor specrfic PLifpose5. At l January 2024 Incoming resources R•8ourcè8 expended Galns and losses At31 Decembor 2024 General funds 17.486.343 644,484 1870,909) (147.654> 17.112.264 Previous year. At 1 January 2023 In¢omlThJ resour¢es Ro8ource$ expended Gains and losses At31 Do¢omber 2023 General fund$ 17.766.707 627.768 1908.132) 17,466,343 13 Rfrlatod party transaetlons There were no disclosable felaied party iransacEM)ns duriNJ Ihe year {2023 . nonel. 14 Cash absorbed by operations 2024 2023 Deficit for the year (374,079) (280.3641 Adjustments for". Inveslmenl income recognised in slalement ol financtal xliwbes Fair value gains and losses w investments {644.484} 147.654 <627.768 Movements In working capitsl: Decreas*iincreasel in debtors InGreaselldecrease) In creditors 35,537 195 (73.688} (993,561 > Cash absorbed by operations <835.1771 11.975.381 > 16-