Docusign Envelope ID: C45321B&C69C42AD￿72￿7D8EC2O8B2E
CHARITY REQI8TrATION NUMBER: 1120878
The Davld and Claudla Hardlng Foundatlon
Flnanclal Ststthnents
For th• yoar •nd•d
31 D•c•mbor 2024

Docusign Envelopg10: C45321B&C69C42AD-8472Ja7D8EC208B2E
Tho Oavld and Clwdla Hardlng Found•llon
Fln•nclal Slat•m•nt•
Y••r •nd•d 31 D•c•mbw 2Q4
P•g•
TnJ$tw' ffjeFM>nolMMo8 8lalwno
IfKlop*Nlenl thKlltof8 r•port b tho
Stalen)onl ol IkwKlal xNvS11•1
Stat￿•nI of IhrKlal FAxlltin
Stalem￿1 ol 11¢
t4otqg lo Ildt•rMhts
10

Docusign Envelope ID: C453218K6K4W.8472Ja7D8EC208B2E
Th• D•vid and Cl•udla Hardlng Found•llon
Tru•t•••' AMUQI Report
Y•ar •nd•d a1 D•c•mb•r 2024
Tho InNta¢8 pro9•* th* roport wxl Itto Ilnandal Ihe ch&rfty for Ihg yov•Thl•J 31 oK￿bor 2024.
R•l•r¢nM •nd •thilnl•tr•iiv• d•l•l
R•gl•¢•r•d ¢h•rlty n•n•
The (>a¥ld I￿1 Clau¢Ja Hardro F¢xtsKlaU
Ch•rlty r•gl•tr•tlon nwnb•i
112rA78
PrlD¢WI offl¢•
Chiè Hocyeff• C¢yJrt
Lomlon
svrd 1AF
Th• tru•l•••
D W HaKllng
C Hanmng
S Undl•y
Audltor
Grefyham Ho
5-7 8t Pauth Slr••l
LS12JG
•ank•rn
Cfr*w•&Co
37 Ao01 Slr•ot
Lond￿)
EC4P 41)Q
8olleknr•
Wlthw• LLP
20 ¢Jd 8•ll•y
Lon(b
EC4M 7AN
8trudur•. 9•wm•nM and mffi10•n￿fiI
Th• Davhj and cla￿￿& Vh• ￿0￿d￿lI￿lIS 9￿￿ne￿ ty • Inmt d••d 10 Aug￿ 2(KJ7. a8 varfad
Irom Ilm• lo tkn• <th• 08•rf). beon rO8ternd knllh Iho Charfty cornn￿￿￿ 8lne• 17 S•pt•mb•r 2007.
Th• Tn*l Dmd ••ts th• frnmthth kn tho •ppoth•rt r••pwltAlldo•. of th• Tnxl••J. Tntyt•
app￿￿￿j In acconlwu *lth lh• TnJ•t D•od •nd f#wThlbl• lor ov•rna•iTrJ thè Four*lÈtiM'8 grnnl.ma* acOvlll8•.
Inv•slm•nl manag*n•ni, Ind I￿ u•0 ol lund•. In lkn• *llh lh• FI￿￿110￿￿ rt￿￿•1. Tru•th•s Med¥• no
Mriwiiértllan for th￿1
Th• Board ol Tr￿1￿• (th• Tn4t••*? n*y camprfw up lo l•n m*nb•ii 8A1 athlnl8t•rn lh• FoundA11￿ *llh approwlal•
piolrf￿onal ar•J •thilnhtrntlve a• r•qulr•d. Any no¥v T￿￿1•0 rrtalw8 an In(knlon c4)¥ertng Ihthr18oal 4jbIl￿bJ18
WKl•i chadty 14w. th• Trust l)oed, lh8 Foun¢lalh)n'8 and do¢tjloft￿￿￿ng thl a r*A•w of118
ffirwKS0l porfomwKo.
Rl•k rnan•g•ffl•nt
Th8 Tr￿1•89 f8gd*ty Ihe wlrdpal 11￿ l&in9 FtyJrKlakn. hKluthn9 Ilnanciol. owallrmol. ￿ ropulalional ￿￿k¥.
Parllcu* att8nikn ts glvén ￿ tha rnarwgrt ol gTaTrl bw•Jtrrwt p•rfrymarK•. ar¥J 90¥om•n¢o ￿￿*￿Jules.
Approwiate overnighl Th￿h￿rI￿n8 Ara rnalnlaln•d lo mltlgato th410 rf8k#.

Docusign Envelope ID: C45321B5-C69C42AD-8472-97D8EC20882E
Th• Davld and Claudla H•rding FoundAllon
Tru•t•M' Annual R•port (¢onlnu•d)
Y￿r •nd•d 81 D•￿rnI)•r 2024
Obl•cllv•• and •olMII••
Th• Foundallcffi'8 chwllal* Ob￿ts. a8 sel oul In Ih Tn*t Deod, arn lo m•k• ol ¢•Fllal. at I
dlscr•llw of IhgTnAt¢•g. •x¢tuthy lor¢hartth Anykn• kn lh• **rfd.
Ihllt ath4artO 8¢18￿•. •dwar￿. lh• arty. aNJ naturn ¢onethvall(
athll•s d•lv•r d•ar Exam￿•$ Incr￿J• grants 8wy)rtINJ 8el¥)larnNpJ, c(rtwo1 wh11411on8,
A¢hl•v•m•nl• md p•rforniabX•
Ourfty lh8 year, th• mode charftrtth d(Thl*Th tolallSng £•X621 ￿ £1.141&31). SUA￿V￿ a rnng• d Ca￿11
Fln•n¢l•l r•vl•w
lh• y••r. ol iW&621 w•rn m*J• 12028: £1.143.331). donAIoM +wdv•d durkng th• ye•r totthd
£10.317.811 (2023: £885.IXK)). ol £10,112,449 Th7• ath8v•d I2￿23. £40S.809. Al Iho yaw end, lh•
FouiKlallon hdd n•1 fur•J8 01 £11.C(KJ.347120ZJ.' £887.898) avauabb for fulw8 tharftablo thll•s. AR IwKl• ar¢ threjlr
Ih•r•lor• iopros8nl fro1 •¥al•bl• gronlrttsw.
lfiv••lm•nl polky
ilThJ•r th• lemw of I￿ TnJ8t Ih*l. Tnwl088 havo full d*rnllcn In¥••l tho Fwthlk)n'8 a811 IMY w•r• ab6okrt•
bgrnfficL41 own•rn. At th• yow WKI. th• F¢AllM￿on'* lunds w•r• h•ld ID ¢wh ar#J 1rwe8kn￿ lund•. In In• Thllh fv TDJlt￿.
Icy to Pr#ar￿ capKal Ilexlblllty lo mo81 fulw• grnth ccfnmkngnth.
A•••M• pc•ll¢y
Tho T￿￿1••8 lo fftalrthln lu1￿ lo thil lh• c•n conllnu• h• aGIMd•• •nd m••t
lulur• ornnt curmllm•nl•.
At th• y•ar £350,869 of ￿1￿110 fundw ¥rnre ten)￿ to lulur• donAN¢m 1*K1￿]èd In cr￿￿1018￿. R•mthlnq
unrn8lrfct#d furth ar• a¥alatlo for lulur• ch•rt•* puTraM• or Thlth th• Ft)und￿On.fj oèloth9•.
T￿ FwMlalkn'• wtrhJ•d ty Oavld aNJ ClwJ• ma￿n9, who ￿¥# Inthcaknl trAli ¢$￿￿TrU•d 8iw*xI to
fflo01 al lulwo dwllom 4Th1 nmnlno eolts a• Nthd.
ar•nt4A•klng polloy
Gr￿1$ are carddor•d Tn￿1•88 IK8•J alwmenl Yllh th• FowwJaUon'• oWl¥w arnl th• W•nlW lo¥ putAYr b￿•ll1.
Prforfty l• l¥•n la In11tAl￿0 trwt•J¥ar*• lh• dwrflabl• alm&
Pl•n• lor lulw• pwl•d•
In fulur• y•ars. th• Intarrfl• to eonllnu• lkn ¢hwltatl• Thllh a loc￿ ￿ •uppryUn9
i•••arth and Od￿•110￿ ¢ullurnl arKI arlknwc d•¥•lopii•nt aThJ •ts)logleal e<r40Nalkn.
i! l..10 l.Lf... arNJ ¥1gn•d on b•hdfol lh• bowd d lJu•t•M ty:
D W Hardlng
Tru•t••

Docusign Envolope ID.. C4532185.C89C42A04472-97D8EC20882E
Th• Davld and Clau(40 Hardlng Foundntlon
Trusl•aa' Fte•pon*lblllll•• Sl•l•rn•nt
Y•af •nd•d 31 lJ•c•mb•r 2024
frusto8s arg r￿p(Y￿Ill• for proparfng th• tr￿t￿, rewrt and th8 financial statém￿ in •pkqicab￿ law
orn1 Unltsd Klngd¢¥n 8taThJaYth qu￿1•d Klwjorn G8n•MIty l*xgthl Acojuntlng Prncllca).
The law to thArflles th EnolarKI Wal•8 Iho (*wlty t￿￿￿0$ to ffin•rtial slaièmènts for yoar
wtM¢h olvo a tr￿ and fair biow stalo of affth of #• chlrfty and of Iho Incrynlw and oAllcal¢)n ol lo￿u￿¥S. 01
th• ¢harfty lof that porfod.
In pr•pf41ing th•80 finaTrlal thl*nénlJ, th• Innleu are reqthl￿l lo..
i•l•ct I￿8￿1• acccAfft¥ng polk[&8 arnl th•n apFly Ih•m
cthéN• ffl•lY*J• and ￿1￿1[1•1 In th• appllcabl• Ixlllas SOAP:
mak• h￿qMontI aThJ Ihal arn r•aw*blo and prudwl:
8IAta ***ihor •FplW• UK kw¥nllng Standwth hav• b•on lollNod, to ￿ mthrfd d8parbrn d￿0•8￿1 and
oWalno0 In th• Ina￿al slal•m•nts:
prnpara lh• 11rw￿l&l 81alom￿ cffi tho golng conc•m bull ￿1•1$ tt l• thwlxo￿1a1a to that th• ehlrtty TAIII
t￿￿• In bullnw.
Th• tr￿te•s *• lor It•a&*ng od•guoh 4ccM¥ng Ilwl ar• lo show Oxplaln th• charftyts
Irarffjactons and 118clo￿ Ihllh fa•Bontha ￿£￿ncY al any Umo th• lInw￿[al P￿IllOn ehaty •rnl WbAbl• th•m to
that ts IlnAKlal •la1•M￿tI ¢)mWy thllh th• CA)wlll•s Aci 2011. tho &FplkAt4e Chwllb•s (Acc￿￿ and Aogulalknm,
arKI th• wo¥l8lono 111 the Twst 08erL Tly arè alBo lor saltyua￿l￿g th• a8601• of Ihg th•rfty oTh1 h￿fj try takl
ro88onat4e 81•ps foi th• pM¥*kn •nd d￿ttl10Th ol Ir&ud dhor Iff•9￿0￿1￿.

Docusign Envelope ID.. C45321B5-Cfj9C42AD-8472-9708EC208B2E
Th• D•vld and aaudla Hardkng Foundotl•Jn
Inthp•nthnl Audhoe• R•wi to th• M•mb•M ￿ Th• Davld Ind Cl•uth• H•rdln9 Foundatlon
Ymr •nd•d 31 Doc•rnb•T 2024
Oplnlon
We have aud6t8d Iho Ilnanelal 81atoff*th of Th• Da¥ld WKI QaiK114 Hardng Foundallon lth• 'charttrn ILY th• year •ndfAI
21 Doconknr 2024 twhl¢h lh• •tsiwMnl d fimniial acthvll￿. 6ts1•m•nl d fmr¢W F#xIkn. #thiément af cath floYK6
and tho r￿al8￿ rw I￿A￿lIng a •urMiary of 4tgn511c•Thl ￿ potthB. The thartiAI w4xJrtkv4 frnm•th thal ha8 be
akpled in Ih•lr law a￿1 Unw Ktrffjdom SthThJafd8. FRS 102 Tr• Flnanc4al
Fl•portlng ap￿¢•blO in the UK aThl Rewblk of Ir•land Ac¢w Atttythlng Prathal.
In lh• l*wi¢W •tat•iwds:
glyo a Iru• latr ￿0W ol Iho 81at• ol lh• affojrn ￿ al 31 De¢•rtw 2024 ol tts ￿￿ure6* and
aprllcakn ol r•wurcw. ￿1￿lIng Its InpJn• I￿1 •xpon¢*ure. lor th• yo•r th•n •ThJ•d;
IMv• b•m wéparnd In xe4ydArte Thllh I*￿0n￿nIS 01tt* (knll•• Acl 2011.
B••l• lor •plnlon
W8 Cond￿ld our a￿lIt In *lth lnhm0lkjr￿ stand￿ ¢n A￿nll IUKI OSA• IUKI) aThl ar¥kat4• law. O
r•8poniiblllil•8 •taThJwd• •r• h¥th•r 4Jfjwlbed In thè I￿1110￿¢ fwth*alltt•s for th• audlt of the lknanc4al
8td•m•nb doui rnwjrt. WO ar• th• In ￿lIh ts att￿ ar• rg18vant
lo our a(xlt of lh• Fn th• UK. Irdudk¥ lh• FAC'• Eth￿1 Sland•fd. and ¥M hav4 I￿al8d Ouf ath•r •tl*al
r•8poMlblNtlo9 kn wxorylm vAtr* ttw80 W• bdl•v• thAI IM awjll •kl•rta VA hav• cthln•d Iftd
aW0p￿Ie lo prolth a bas1• tsour qiblon.
Con¢￿•￿•￿• r•Wlng 10 MlleWII
In audlllw tha Its)￿la1 8tat•n•nts, ￿ h•v• crKKlwJul Ihal lJk• trw¢w•' al th• ean¢•m l>•ili of Kcounlng In I
8aMd on lh• woth w• p•f(ffiwd. Y4 havo Id•rth*l •w fflthrf•l unc•rtdnl# rnlaling ￿ •¥•nts trwl,
duaty or cowwy. ¢ul 8lgntlkArt clwrfty8 4blllty lo COr￿￿u￿ o 4 gxK4Nn for a at
l•a# Iw•h• frtyn flnAndal •talwn*its am 1¢Ah0rf￿ tor
Our re•p(Thl)IliUM •nd ts wo•p)n8lllMbw ol th• lJ4wlw• *llh rap*l tr• emm ar• d•wlbfjd In th• Ml•¥*)t •KIIty
01 thlo f•WI.
fth•r Infarmallon
W11t#)ul quallfytng our opfftSon TA• draw allenlSon to lh• Pollclo• In Nolo 3 to tho 11n•￿1￿ •latwn•nts and Ihe l&1 Ihal
lh• ¢<*nparnlN• lh• aceourf• WA• una•xlll•d as th• dwrNy •ppll•d Ih•lr wlllom•nl to •x*nptlon fnm In the
oryw.
Th• olh•r Inlomwlon th• lrtmlon fftlud•d In th• annwl r•port. Ihan th• ffnwjal ond fAff
awlKorb ropcrtl Ih•rwJn. Th• InAt•O8 arn T•sp￿bI• otsr Inlonmlkm. OuroK4nkn) •lairnl8 do•• not
¢￿T th• olh•r InlomNgliw tr* lh• exl4nl ¢)Itth•ft• •WkAIy *at•d In ¢)ur rqwl, wfr nol expr••8 lom)
a4WTan¢o ¢on¢lwJlon th•rnm.
In WM•Ctlwi •)w ol th• Ilai*i*ftts. our rn•ptywlWMty h lo r••d lh• olh•r Irdomth aftd, th dolng •
¢onold•r wh•lh•r lh• other Snfomwllon l• malwlalty IMxMl•t•nl wlth th• Nn•nclal •lo1•M￿ty or our ¢)btdnod In lh•
a￿￿¢ or olh8r*lv •ppe•rn to b• mat•rWly m181tat•d. If th• idwiuty Such m•ifjrlal Incl￿81￿￿￿￿ or ￿>par•nI mai*lal
mN#la1￿￿)ts. w• afo r•4ulred to d￿•Thr￿n& Ih•M l• a mAl•rf￿ ml8thknmwrt In tho fIn￿￿￿1 8lalorn0￿ or a matorfal
ma8Iat•m￿l ol Iho oth•r Inlomalttyk 11, l)i*J rxt lh• wotk ￿ hAVO fvwrfomwd, TA• c(XX4￿J• thal thw• l• a
mi¥ata*m•nt of thth othw Inf0mwdt￿, arn r•qulr•d lo roipM Ihat fact,
W• h4v• I￿11￿j tr) In Ihl•
•tt•r• an whlc* w• ar• rnqulf•d lo r•port by •x¢•ptlofi
In tha Ilghl ol th• krnxrf•dg8 ar¥J ur#lorntandlng ol tho ¢harfty and its wNlffjnm•nt dth•d In Iho ol th• audth. ￿ h&v•
fiot ￿en1110•d malwlal rnts•lat•moth In lh• tn•teJ* r•po
Wo nolhiftg ts Nport In of th• lolovArvJ mollor• kn rdallon to whlch lh• A¢t 2011 to v•ivl
YJu11, In our
ttw Inlomiallon tho IN•1￿, r•p)rt l• In any fflderfal fe8p•ct *llh lh• flnondal alatomont•; or
•¢J•qyafv a(¥wnirffj hav• ftol bow k*t or
lh• lin￿￿,$1￿16fflonts arn nol kn awogmèni *ith thè aNI welums: or

t>oGu¥ign Envelope ID: C45321B&c69C42A￿8472-g7DaEC2QeB2E
Th• Davkl and Cjwdla H•rding Foundjtion
Ind•p•nd•nt Audito¢• R•part to lh• M•mb•rn ol Tha Dav￿ and Claudla Hardlng FOund￿1¢xl (cwlthu•d)
Y•ar •nd•d 31 Decefflb•r 2tr24
we havo nol fo¢aived all ts Inlomiallw 0¥IonaUon8 x r•qulrn tor awjl.
Awon•lbllhl•• oltrujl
As •Wned In tho trltyt￿, re6pY￿bIud•& tht•mMI. 1h• IfUSt•è# Aré léap￿￿ th• ￿para￿ of t
ISna￿{al slal•m•nts aTrJ for S￿1￿11￿j Ilwt Ihoy ¢vo a Iw• a￿1 lalr ¥lw, and for Such Iniamal ¢(*)trol as I￿ tr￿1001
dg1wm1￿ L8 nec8800ry to lh• proparnlkm ol In￿181 slthrnen18 Ihal are Iree frorn mal•rtal rn38lat•rn￿t, v#h•lhar (
lo lrnth* or •wTh.
In piyrtng Iho •lthnwth, th• t￿1891 are M¥FKThlbl• for thg ¢h•lty8 ablllty lo cMYnue as a gory
¢￿￿•m, dlsdoglno, ￿ awllcablo, matt•rn rnla￿ to gotsw e¢YLeém uslrKJ th• grin9 ¢orKem a¢¢0￿￿￿
trugte6s elher knt•NI to IWd&to Iho or to eeaBe opw•kn. or Iklve no rgallth allw￿￿¥8 bul lo do so.
Audlloe• rn•pon•lbllld•A lor th• •udlt ol th•tlMnclal •tstsm•nlB
We hwe bew apportod 08 •Ath ￿ll•f 144 of th• ChArlliM Art 2011 qnd report ￿1h ￿￿1•
undor 154 ol
Our obl*O¥08 arn * ol)tsln r8a84Thbl• about Iho fknoThJ418lalgmw*• w a lrn• Irtyn n*lal
mlMt8temonl. duè to tra￿1 Qf e￿1. a￿1 lo14¥u• an Audllorn. r•F¢rt that Includ•s oplnlork ROa￿n￿• a88ular￿ol8
hlgh leval ol duurn￿o, ￿rtIS Mt a yrnnt•• Ihnl an a￿11¢ ¢rykluclod In •xonl0￿0 vrtth ISA8 {UKI *lll d*4cl &
mAl•rto1 m19tstaI*￿l *Awn11 arf88 In￿j or •Thor arnl are cofijldered malorf￿1l, IndM¢knlly oi
In Iho aggr•gal•. IW eoukl b• oxpKl•d to Inllu8nco tho ￿{MOm[C d•dBILTh d u8•rn lak•n cn lh• bul8 01 th08•
fIn•n￿l stat•nw
Iff•gulwMl••, fvwd. •ro Ir*lww ol n(¥K(x￿11a￿o *41h IM and r•gdatlorn. W• d*Jn h) Iln• our
r•srA*thil*t8# abty4•.1o d•l•cl ml8stat•ménts In r•¥•¢t of lffogul•rlM fraud. Th• oxlwrt to whkh
+Jur prxthro8 W• ￿[￿ts1• ol delxdnp Indwllng lrnwj l• d•lall•d b•low'
Wo t)btak￿d an ￿d￿lI¥￿Ing of th• l•gd ￿9￿•tOry *llNn ¢ompww op•ratM. Iho•a
laws *¥J wulitlryw Ilwt Iwv• a (Ir•¢t •ll•ct on th• do18m￿n￿lIan ol ma¢•rfal In Iho Ilwi¢W
W• bJ•ndfi•d lh• waa1￿1 rf•k al mAl•rtal Iroact on th• ffn•n¢thi frnrn iwul•rfYe• I￿ tra￿1 lo bo
MAnagwnont twwrfd• ofc4)ntrol8 lo fflth4pulalo th• VXnPAty• p•rfomiaru Ir￿￿￿1￿ lo rn•W lary•ls
Tlmlng of rw•nu• T•coythn
Marwggment IwJg•rn•nl •ppll•d In ¢￿Cl￿All￿ pTh48lN*
¢ornpllanc• knllh Ml•vant IAWS ragulalon• fAthl¢h (*roclly IlnwKW and IPTh• Ihal lh• ¢ornpany
n¢gdB lo CoM￿Y *llh lor Ihe pury>o8e ol tradtng
Ouraudll pffx•dur•8 lo re1p￿mI * Ihgm rf*k• I￿￿1•d..
T•slng ol loum•l onldo8 ad]wbTh•nts for
Evalu￿r￿a I￿tr￿ ialloMl• of 6Wllkant trar*aellon# outsid• lh8 nomiil ¢ow•• ol b￿1n￿*
R8vlo*lng I￿19•￿￿nI& mAd• ty manag8m•nt m Ihètr e*ulth ol Ar{x￿nth9 OBUma￿ lor W•nltnl ￿rn•nI bJa•
ErquIrt￿ ol monagem•nt •bout1Sllgallon aThl clalms arnl ol rolevanl
l•gal arKI WDIM8knal feeg lo kI*￿1ty iThlcalkwwol a¢lu41 or Wonllal Ildgad¢)n, and any
*iih lavA and
Awthcal to Id•rfy any or unoxrAet•d tronth
Tè#fjng rwnlwl In th• yur •xl p￿1 y•af end. rn¥•￿ awxopthidy.
BKakffje ol Ihe inhwonl *￿atIOn¥ ol w •JJl. Ih•r• ks a rfsk thal Th)t do1￿1 al lieg￿1￿110￿, InCl￿tIr￿j th080 leadlng lo a
malqrfal MI￿141￿￿￿ In th• Ilnencl•f slat￿onI# or rKrfKcAnFllan¢8 *AIth r•gulAtkn. Th18 tl8k tr¢r6fi1•8 mor• that
¢i)M￿lar￿0 wth a law ry r•gulAtt￿I8 rwThyMd Imm ts th1￿19 dnd 1(an•￿Ill￿ Ihe fina￿l81 $latements, ￿ wo *111
b•10$8 Ilk•ty lo bK¢m8 ol In81arw ol noTrccryfknu Tho rfak Is alsogrutor T•gArdng Irr8gul*ili#a 0￿￿11n9 dua to
ralhar th￿ emr, aB fra￿1 Invo5vM ITrt•n￿ CO￿￿0n1, foryary, cdItsA￿ omis8lon or ml81epr08￿latkn.
A lurthor doscdplion ol our Ywonsib115UgB for a￿￿1 cl Ihe Ilnand•l stat•Y￿1$ Is kut•d tré FIn￿¢￿ A8wtsng
Counc*s WBbsite aL' *w.Ilc.OfgAWa￿*I0rIrtsp￿￿￿I1Ilél. TPdS d￿nptrOn tom* wl of our ro5￿yL

DoGu5ign Envelope ID: C4532185-C69C42ADW72-97D6EC20882E
Tho D•vld and Claudla Hwdkn9 Found•ll•n
Ind•p•nd•nl Audltotr• R•port lo th• IA•mbor• ol Th• David and Claudla Harthng Found•llon (eonlknu•dJ
Y•ar •nd•d 31 D•Mmb•r 2024
U•• ol oui i•port
Th1& rèw ts rr*do 8ddy to mwnborn, aB a I￿, In leci1c￿ 144 ol tt* Chftrftl88 A¢1 2011 and
reouLqllon• mado undor trftiLM1 154 of tst Ad. Our athlll wc** boon urnlrAIkn 80 Ih•t we thghl •lat• to th• thwilrfs
m8rnbor8 thos• rnatt•rn ￿ arn rnqdmd to slat• to thwn in an aThJ I￿ no NiriM¢. To thé OXI￿1
p•mltt•d ty Lqw. do rKrt &e•O ty wum8 1¢ an￿1• othgr ts Ihg thwfty and tho ¢h•rftyb a&
bcKty. loi our audll lor INS r•)tyl. or fov th0 QOn1￿$ Th• hw• Ir)mwJ.
AA8 A￿11 & Accounlwy Umllfjd
Stslutory A￿1￿01
&7 Sl P•uf• Str••t
L••ds
LSI 2JG
231iolzs

Docusign Envelope ID.. C4532185.C89C42AD-8472-97D8EC20882E
Th• D•vld and Claudla Hardlng FoUnd￿on
Slat•rn•nl ol Fln•nclal ActlvlU••
Y•ar •nd•d 31 D•c•rnb•r 2024
(Unatsdltéd)
T¢)tal fLnJ8
Tolal
Not•
Incom• and •nd0wm￿ts
0￿￿tiOn8 aNI ltylcl•4
In¥￿trnon1 IrKtmO
10.317,811
10.317.811
T•l•l In¢orn•
10.386250
10.386.250
931.689
Exp•nd5tur•
ExFwKlltur• on thafti•blo •£MIlYJ
T•lal •xp•ndI￿1•
17
1.152226
1.152.228
1.837,498
1,152328
1,837,498
Nel gwn8 on nVastThnls
10
ern425
878.425
N•l Invom￿•A9•ndII￿> •nd n•t mg¥•rn•Tht In fi•nd•
10,112.449
10,112849
1405,809)
A•eoft¢lll•llon Of lufid•
Total IwKl¥ Ixought
T•l•l fund• o*vfl•d lorn•rd
887.898
1,293,707
I1.C￿￿.347
11,QCQ.347
887098
Tho Stat￿8￿ d IM￿al r£t*Jos tttthla6 8.1 ￿lAS artrj 1•e0w￿d In th• y••r.
I IT￿(￿0 and e¥pwrftttt*e dw¥• lffjm c(YAlnulng advfd•#
Th• nol•8 *Jn pry•• 1010 16 lonn ol th•#• fin*n¢lal •l&tsm•nl

DoGugign Envelope ID.. C4532185-C69C42AD-8472-97D8EC208B2E
Th• D•vid and ClaudLq MA￿1n0 FoundAtlon
Stal•m•nt of FlnwKlal Po8hlon
81 D•¢•mb8r 2024
Not•
Tanglbl8 Ilx•d a88010
In¥e8tménts
I301
920S,571
16
9287,872
Cun•nl a•••i•
17
4.859
2.111187
15￿7
IA37.971
Ca8h arrtl In h￿d
2.121,046
1x3518
Cr•dltw•: amoml• lalllw dy•vAthln OM y•ar
18
(3*571)
(465,6W)
1.087.898
1.762,476
TalAI *•••l• IM• ¢urrnnt lknblllllr
11.OSO,347
I,￿,698
CMdltor•: •mount• Iallkng du• ts m•r• th•A on• s
1•
(50,000)
(2Q) kN)J)
887,808
11.I>JO.347
Pund• 91 lh• ¢h•rfty
11,OWA47
887.898
Tot•1 th•rfty lund•
21
11,(th¥7
8•7.898
%}/.! ol.zs
Tr￿1• flnandal 8laténwao w• •Ax6¥•d ty tho bowd d li￿1•¥ and aullKirf••J ft>T I•Ju• M .. .
b•hilt ￿ tho bowd br.
arè
D W Hwdlng
Th• noi•• offt 10 to 16 form part •1 th•￿ Iln•n¢l•l •tstwnml•.

Docusign Envelope10: C45321 B￿G9&42A0-e472-9F0BEC2o882E
Th• Oavld and Claudla Hardln9 Foundallon
Sl•t•rn•nt ol Ca•h Aow•
YMr ended 310oc•rnbar 2024
2(Q3
C•th 11gw• from •p•rnOng •cUvM••
lncomo1(•x￿ndttur9l
10.112,449
(4C6.809)
08pr8datSon ol iarffjltrAe txod ao801s
N•t galrvj on In￿$￿ents
Other Inlore8t w6celvat40 ond MKn•
Acenjèd éxpnsè#
Donallons ol *)th•r InvMkn8nts
1878.425)
168,439)
4.175
110a15,Wl
146.6891
Chanq•s In..
Trado arKI o**r dgblo
Trndè and olheT C￿151018
10.688
P61,2241
{1,395.6151
(3.619)
172,047
Cash g•n•rat•J Imm ¢)pgrnlloM
1283.780
Int•ml ra¢•lv
46,889
li￿VI￿￿ In) op•ralng actl¥ll
(1,Yd7,176)
(237,071)
CA8h flow• from Inv••tln9 I￿1¥111•#
purch￿ ol larywo
Proc••ts Irom ul• rf otyw tThiulmord•
12.7S3)
1,908.156
Nol cg•h u8gd In lfivo•llng KtMIIo1
1.WS.302
N•1 Inor•aMI{d•¢r•a••) In fA•h ind ￿•h •qulval•nl•
e••h and c••h •qulv•l•nl• •1 b•glnnlng ol y•ar
Ca•h and ￿•h •qulv4lmts al md ol y•v
678.216
I,￿?,?71
(YJ7,071)
1,776,042
2116.187
l.W,971
Th• not•8 on 10 ta 16 forni part of the8• fln•n¢lal •lat•m•nl&

DoGu¥i9n Envelope ID.. C4532185-C69C42AtM472-97D8EC208B2E
Th0 04vld and Clwdl• H•rdlng F￿ndItIon
Nol•8 to tho FIMn¢ial Stal•m•nts
Y•ar •nd•d 31 Doc•mb•r 2024
G•n•ril Inforniauon
Tho David and cla￿[17 Hlrdng F￿#*11¥0￿ 1$ kn unIrto￿￿1aknJ E￿￿wj Wal•8. Th• addrots
th• ￿ncIpal dlka18 Ckn• C4Jurt, Knlghtsb*. Lond￿. 8vfJ 1AF.
Th• F￿ndatIon ¢>yvJOtth a kn•fft d•llnod ty FRS 102.
Thom Ilnrt1418l•l•MN• Iw¥o bo•n pwrod kn wryllaK*• FAS 102, Tr Fkn•nclal $1•p￿ Stand•
•pplk&bl• In UK aThl th• ol ITelMd'. th• 81olwnwrt of aNlicabl• lo thwll
•parln9 Ihfjli In ac¢ffllwK• wAlh lh• ReNJlng SI￿(*d In th• UK arKI Aylbk ol
IrolaThJ IFRS IQ2) {Chwlllw SORP <FR8 102)) arKI tho Ch&rfll•s Acl 2011.
Th• aoxwnl• h&¥è b••n ¥v• a Iru• and Iqlr vlvw and ha¥• d•part￿l th• ChArfll•8 l*mxffit8 ar
A•port81 R•0￿￿￿ 20￿ (￿lY b) tho exiènl rwlr•d *• a I￿ •MI lali vl8w. Thlj dopartw• has Irw(knJ
follow[r￿ C*&rll8• 80FIP IFAs1￿2) Talher Ih•n th• kL¥xMilln9 ty i>wW•#: of RK¢)ff￿•J
A¢¢wntlng polkl••
••5•
Th• ffin1nd￿ •takni•nts h•v• pi•pwod ¢)n a *rtg ¢4Yrt•m IM810 uthr tho Ilototsol e<*1 ccThwthm,
modlllod ty tho r•valuAlon ol cert￿rn mo••urod al Wr ￿lu0 1hrO￿ ¢Y èl[￿rKI￿ra.
Th• flrffthl Atal•ftwts pwr•d In *lileh kl lh• ¢urr•w d lh• m.
CèryJ*f*lh• Inloffmtlon
Comparalvo l• unAudt•S u th• dwlty •PPI* •x•mptkx* IM a￿*
Qolng eone•rn
Thoro aro no N*l•rf•l u￿•rta￿lj# Ib0￿ th0 4*wty• •tslty to ¢￿￿n￿O,
Jdg•m•nl• and k•y ••uM• rf••iim•ii•n
Thè prapara¥on ol Iho 81ts1￿¢S rryulro• rn4nag•mfflt h*fjrn￿. #lmatO1 ••$umptton8 Ih•t
tho •ftKrtthts Thw• •g¢knal•8 and ludgThnts arn cfl￿rn￿lty and •r• b•••d m wporf**• WKI
othgr laelorn. InCI￿jEn9 ol I￿j10 V40nts th￿ ai• b•¥wod lo b• uTrler Ihe c1rcurrrdlaT￿.
F•r•l9n ¢ufr•ncl••
Forthgn ¢urnnw lrfl* rKwd•d kn tr• lurthal wr•w. ty arwyhw th• •pol rnt• ￿ at
th• do10 01 th• 11rdN￿￿. Monolary ajwls IlablJts•8 d•nrthnaled In lordw arn lJonolat•d ol th•
•xGh&ng• rnl• nllng ai th• rwhg date, any los￿ lak￿ lo tr• •1•1￿￿￿￿ ol
Fund •¢Munllni
All th• chartw lurth Ai• unl•th￿, th• tN•t4•1 Ir•• * u•• th•a• In *llh lh• elwll•bl•
Al IrKonw l• Inchw￿1 kn Ihe *t•fftht d finandal acOvlUé• ¥vh•n •￿Il￿n￿￿ ha8 w8•J to th• Clty, wJbabl• ttwl
Ib• *4ih thè lrnrnwAfon Ilow io thé dwlty Ind IM ar￿￿Trt c•n b• I￿lat￿Y ffl•asural.
Ineom• Irom donauoni or grants l• rrf(w1800 wh•n Ih•r• of •nld•m•nl lo th•gllL rrf•lpi kn pmbth Il•
Ir￿m* fffjm rncelvat4• th• arnouN ￿ b• m•ft•ur•J rthbly ty Ih claty.

C)ocu5ign Emielope ID: C453218&C69C42AD4472-97D8EC20882E
Th• Oavid and Clo￿lIa ￿rdIng Found•llon
Not•8 to tho Fln•n¢lal Sl4l•m•nt• (Mnllmmd)
Y•Br •nd•d 31 D•c•mb•r 2024
A¢¢ounllno pollcl•• (4¥￿￿￿￿•￿)
Exp•ndltw•
Expwdlw• Is on on lJagLg. Incl￿1¥0 ol VAT.
LI￿41111￿ arn T•>j9r￿ as M8ourco8 oxpw#l*l 88 Aoon al ltrw• IB a Iggol or Camlnth cuMMfflTWJ Iho
ehartty to Ihé é¥pondhuro.
Charftabl• donallons are pAYM￿ts mwJ• lo thtyd p8rf18s In th• lutheranco (4 th• ¢hartlable objocts ol Iho twrnlatlon.
Slnglé ¢)r m￿l1.Yo￿t arn lor •llhor th• r•clpl•nl hAS a r•asonabl• •xp￿wI0n th￿ Ih6y WMI
I￿11¥• a thnallon •Thl tho Iwil8eJ have agiofjd lo pay Iho drywllon *llh(Krt coThJllknn, ￿ thfr w￿l￿8n1 hlls a rea8onabl•
oxpfjclallon Ihat Ilw rK•ivo a O)natlon and ￿ car￿lI10n alla¢hlry lo Ih thjnatkm 18 tyjtsldè Ihe control of tho
lourtdatlon.
Where thlong are payoblo ofter mN• than fy)• y•ar and thè éftrtt l# m&lèrtal, a Atè IMt4d on th•
pproprtaté UK gov8rnmqnl bNKts opood. Th• unthlndlng ol Ihl8 dl•oounl rnt•18 as a fflna￿• Casl and Is
Included vAthln w•l•.
Go¥orn8nc• calts GA)mprf# colts for Ihe Nnnlng ol lh• cfiArfty110olla• an
T•nglbl• w••t•
Tanglblo au•l6 af• Irthiwly ￿ld•d At co•1, arnl lu￿•quenty •lal•d at CO￿ Iw any aeeumL4atthl d*)￿1￿10n •￿1
Imp•In￿l Io•M•.
D•Pr•cl￿n
procE&llon18 cknlalod K* a8 lo wrtt• off th• eo•l OT ¥aluallon ol an ••wL Iw• h fe*knl ov•r Ith• u•01
•¢orKml¢ Ill• ol thal a8861 a• lolLY￿.
C%Jxpukn 4￿p￿Ant
25% ￿d￿lfi9 b•1•￿•
Inv••trn•nt•
Ll$t•d In¥8sbnMts am rnèa8u￿I at llli Yalu• Thllh In l•lr valu• b•lry r•Mgnl•od In profft of lom.
Flnaftelal In•trum•Tht•
A flnon¥W aomt or a Ihwncw Ihblllty l• rwnlBod lyty lh• wrtlty b•com# a paty to lh• ￿ntractU￿ prv41olon• of
Bo•lc I￿•1 Irwtrumwts w• thillAIIy M¢ognl••d •t th• fecolvo1*e or payabl• krf*>Jlng •iiy ￿41#￿ Irangacllon
costs, lh• anangem￿t comllluhs a IlnwKlng iran•ackn. hl)or•11 b• r•g4nlMd at th• pr•Mnt valu• ol lh• lutur•
paym•nts (l￿1nted ai A ftwkol rnt• ol Inlqrejt for a Ilwlwmrt.
Cuff￿1 asg•1s ewr•N arn •th•qU￿1￿ nwa8w•d al th• cath or othw *xmdd•rallon •wl•rl lo b• pld
or fÉc8l¥od and nol dlKouNed.
D•fin•d ¢pnlf*ylhn plifi•
Contrbthlon8 lo d8llnkxI contrifM¥on pl•n& 4r• rwnlmd a• w oxpth)8• In lh• In *thl¢h th• rnlalod l•
pro¥ld•d. ￿•pAId o)ntrlbulkxw a8 an aJBo1 lo lh• •xl•nl M piepawnenl TAII lo•J lo a i•ducllon In
lutuifr pdyftwth or rofwKI.
Whw ¢onlrllMbn• w• rnl •yX•J lo bo ththoHy thlthjn 12 In￿thI of lh• thg fapoth In
enylDyq•S Iho fdat•J 8•Thlc•. Ih IlablNty18 mlwurèd M d d1*eoUnt￿ v•lu& bath. Th• unwlndlng ol lh•
acounl b rnwi88d as an e¥gww kn Ihe pethyj h) whkh11 arf8M.
(lon•tl¢n• •nd l•qacl
Unrwlll￿Od
Total Fund8
2024
Unrestrid#d
Ftsnd•
Totsl Fw¥J•
Ocnalh)
lo.317￿11
IOJ17.811
885.(K(I
885.Oly)
11

Docusign Envelope ID: C45321 B&C69C42AD-8472-97D8EC208B2E
Th• Dwld •fid Claudla Haf(kng Foundatlon
Nol•8 lo lh• FIMn¢l*l Stal•m•nl• (¢onllrn
Year •nd•d 31 D•e•mb•r 2024
Inv••thiMI I￿arn•
uftr4thfc￿ Total Fund8 Lknr••lthl•d Total FwKI•
Fw#J•
2024
8ank Intsrojt ￿￿tIo
46.889
EKp•n&llvr• on ¢h•rfl•bh •¢llvlll•• by typ•
UrMlrtcl•d Tothl Fund•
Fufftdl
Unf•8trklod
Total F￿XI¥
(Jwllth
Support
.621
213.605
938.621
213.605
1,143,&31
194.167
1,143J31
194.167
1.162,220
1,152.t28
1,837.498
1.3)7.499
Éxp•ndllw• on ¢h•rlt•tsh •Gtlvlll•• by •a114Ity typ•
GMt iunthty
ac11vltl￿ 8ukwi e4*8 Totsl luThJ• 2024 Tolal lund %123
838.621
1￿.587
30.Q18
1.122209
30.018
IA11.900
1&598
938,621
213,005
1.162226
1,337.498
An•ly•l• of I￿POrt M•
OTr• cc•ts St•ff ¢oBi• Totsl 2￿4 Told 2￿￿3
G•n•ral offko
179.
183.987
,018
175,se8
18,598
Total 8upp)rt o)•ty
213,ICfj
191,187
Analy•l• ol y•ni•
Th• ¢hathy urKl•rt*k•• Its ¢hrftabl• Ilwough maklry domtsoni and w￿l0•d dcmalkm to th• loMo*lrrfJ
•trtullaM thJrfTrJ lh• P•￿tr.
8d•r￿e Muaathi
CA•on W 8thln
Othar lo (uThlo1 £80,OC(11
RoAé P•t•Tw T1￿1
250,(rf10
17S.f
1￿.821
150.O¢XI
1fKI,iyJ)
60.th)0
so.ty)o
43.331
11X),IXXI
CVH Trust
Paryljoumo CAmrAlun
Pow ExchorvJ•
Hor¥ard Cillogo
1￿,(￿￿1
14XI.C*J)
1rA).(
Inlountvor
DEC Earthquth•
Biiti$h R•d Cr
50.rAo
938,621
1.143,S31
Told grant•
938,621
1,143a31
12

t)ocusign Envelope ID.. CA5321 B&C69C4Z4D4472-9708EC208B2E
Th• D•vtd and Clwdl• Hardlng Fwnd•tlgn
lot•8 to lh• Flrnnelal Slal•m•nt8 {conNn•*
Y•ar •nd•d 31 D•c•mb•r 2024
An•ly•l• ol qi•nl• (eonthiu•d)
Tho fdlowtsw dtywllM8 Irrtl(Klod wom ¢Thrnltt•d to by IM Fwthtron. Ixrt Iwl not bow pth at th• yMr ond a8
Ih•y rekn to p&ymwts cixnrnilted lor POrtrKI6:
2023
Unfvérnlty of Pol8
Pollcy Ex¢lww• Unit•d
Sclortt Phlldnthn)prf AINarKo
Ros• PatIts￿ Trnst
173.398
59,889
100.(KIO
Donatl¢x
359.889
10. N•t qalm •Tr Iiiiwknffil•
Tolal Funds un￿trI￿ld Total Fwxls
2(Q4
Fun
868.010
10.407
868,018
10,407
Réali8wJ on t101￿ trNwim
878.425
878.*25
11. N•1 Incomrf•xp•ndliw•)
N•t I￿￿<•Xp￿thIr•} [• •latwJ aft•r ch•rgW(credlthy):
2024
Depfeclalon ol Iwvlblo fixwj aM•l•
Fty*gn oxchorqo dknc48
F••s payobl• for lh• a￿111 of th• 8lat•m•nts
462
3.171
72rx)
(2,726)
4.980
19. Audlt•r f•
Fo08 payabva lor the audll 12023 . If￿￿7t •xaffllMttonl of lh• fthanclal ilat•m•nh £7,200 and £4,gKI
Iwp•eU¥•ty.
13. 81•ff ¢o•t•
StAfl tosts diiiiryi Iho y••r cuwrl••• ￿9•• and Mlartts 01 £151,313 r2023 £148.921). •mplry•rn Nl 01 £19.61712023:
£18,82n corrtfitxth(m al £3.532120fd" £3,513) arnl ￿ appr•nll¢• Iv•y of £756120za: £728> •nd
olhef •nWoy•• b•*llls 01 £4.590.
Th• av•rag• h•￿ eount al 4mth••s durfng lh• 1 (20YJ'. 1).
Thg of wn*yo9• rnmun•rnOM lor lh• yw lex Wlllm lh• foll¢yMIMI bfjnd$, w•r•:
2024
2023
£140.(MX)10 £149.999
ij

DoGusign Envelcpe It)., C45321B5-C69C42ADW72-97D8EC208B2E
Th• Oavld and Claudla Harding FoundAllon
Nol•• to th• Flmnclal Stat•rn•rt• (￿R￿U•d)
Y•ar 8nd8d 31 D•c•mb•r 2024
K•y MM•0￿•Mt P•r•onft•l
Th• kty IlWrnVllVrt ol tho charfty th• Sthoi Reloarthr. Tho tolal lrnount of •mpknfft bw)
{IfKludtrvJ ￿plOYer p•￿1¢￿ comrfbullons) kgy m4w•n8nt lor tt￿1r 8W¥¢88 b) Ilw clwrfty wa8
£179,808 (21Yd.' E171,9&V,
14. Tru•*• r•mun•rallon and •xpM•••
No r•rNJr*ratlon ¢x oth•r In r••px* ol 4•rt01 prV41d￿ to lh• tNw• tho Tru•téè• fvam lh•
Foundakn or • r•lat•d . Erl). Tftxl888 oxp•ns•s ol Enll w•rn by aTrJ to triom In
p￿¢ ol arnl Coal•. duthYJ th• y•ar (21Y23. £nll).
16. T•nglbl• flx•d •M•ts
•wlpmwl
Tolal
Co•¢
AI 1 j￿UmY 2024
Addikn•
2,7&3
Al 81 D•¢wnb•r 2024
D•yrflallon
At 1 J•nuw 2024
Cth•fg• lor tho
At 31 D•wnb•r 2024
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Docusign Envelope ID.. C4532185-G69G42AD-8472-97D8EC20882E
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16