REGISTERED CHARrrY NUMBER: 1121928 R•port ofthe Tru$teos a1 Unaudlted Flnanclal Statsmonts for tho Year Endod 31st D8combor 2023 for The Danson Foundatlon Smalle5 Goldie Chartered Accountsnts Regent's Court Pnncess Street Hull East Yorkshire HU2 8BA
The Danson Foundation Contgnts of tha Financial Statements for the year ended 31st December 2023 Pago Report of tho Tru$lfjgS 1 to 3 Indopendont Examinor's Roport ststoment of Flnan¢lal Acllvlll¢s Balanc• Shoot Nots$ to the Flnanclal Ststomonts 7 to 13
The Danson Foundation Report of the Trustees fortho y¥ar end 31st DKgmbgr 2023 The Iruslees psent their E$rt the finanoal ststements of the Charity for the year ended 31st December 2023. The trustees have adopted the provisions of Accounts'ng and Reporting by Charities.. Ststemenl of Recommended Prathce applicable to chant5 preparing their accounts in accordance with the Finanryal Reporting Standard appIatrAe in the UK and Reputyic of Ireland IFRS 1021 leffertive 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims The charty's objectives are to apply the Income of the trust for the puOSe5 that are exclusively charitable in accordance wrth the laws of England and wa$. The wli¢*s adopted in ftJrtr)erance of these obC"Ve$ are at the discrth'on of the trustees and there has been no change in these during the year. The aim of the Foundation is to conlribute to the quality of life of people by providing grants. loans and non-monetary support to indNiduals. institutions and organisations. The obje¢live$ for the year are set out vthh a view lo reviewng and pro¢essing applications from indiwduals and institutions, maintaining a balanced programme and fvndg projects approved by the board. The Foundation looks to achieve rts Strategic aim$ and carry out its Operati[al obje¢bve$ of the year through review of all applicab'on of grants from individuals and instrtubons. The trustees have pahl due regard to gUance iued by the Chanty Ccrfnmiswon in deoding what ath'vitie$ the charity should undertake. So¢lal Smie8tm•nts Detsils for the charities social investsnents are inthded in note 11 to the finanaal stslements. Grdntmaklng Details for the charity's grant makn'ng acbvities are induded in note 6 to the financial statements. ACHIEVEMENTS ANO PERFORMANCE The board of Iruslees are satisfied wlh ts athievements and perfomance during the year. FINANCIAL REVIEW The Foundation re¢ewed £83,537 income from its InveStnlS during the year. The nel movement on funds for the year resutted in a deficit of £1.307,180 leaviThJ total fvnds, comprising entirely of the unrestricted general fund, of £3.156,138 al 31 December 2023. The deficrt arose due to a strategic de¢i%on Its ntinue lo increase levels ol grant maknng to support ¢harilable organisabons and deserving uSe$, in view of the economic uncertainties faced. It is the policy of the charrty that unrestricted funds vthich have not been designated for a specnlc use should be maintained al a level capable of generats'ng income equivalent to betrn three and Six month's normal grant making expenditure on the inlemship priyJramme. The tnjslees considers that serveS at this level ll11 ensure that, in the event ol a signfficant drop in fvndiThJ, they wll be able to continue the charity's current activities while con5iderthon is given lo ways in vknith add.0al fvnd5 may be raised. Thi5 level of re5erve5 has been maintained throughout the year. On the 22nd August 2023 the charty made a short-term interest txaring loan lo a trustee having previously encashed its listed investments due to volatilty in the market. The loan bears interest at the bank of England base rate, which exceeds the level of retum availab on cash deposits. This is a temporary measure whilst the trustees conclude treir review of the Charty's investrnenl strategy. As explaine(l in note 15 to the financial statements, this action, vhilst well intended, is not pennrtied by the charity's goveming docJJment and has Since been remedied. STRUCTURE. GOVERNANCE AND MANAGEMENT Goveming document The charity is an unincorporated trust, constituted under a trust deed dated 12 November 2007 and is istered Charity. Page 1
The Danson Foundation Report of the Trustees fortho y¥ar end 31st DKgmbgr 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT Rocruitrn8nt and appointment of nèw truStS The trustees are appointed by the Board of Trustees and shall consist of such indtviduals, who in the opinion of the board are interested in the aims and objecb.ves of the trust and who shall be approved and admitted as members. The Trust Deed provides for a minimum of 3 tnjstees. Each twstee is ented to hold office for years, afterwhich period they may put themsefves forward for reappointment. Organisational structure The Board of Trustees, administer5 the charty. The board meets al least twce a year and they agree broad strategy and areas of actiwty for the Foundation. induding consideratson of grant makn'ng. investment, reserves and risk management poliaes and perfomwnce. Induction and trnining of newtrusteey New trustees meet key officers and trustees. receive a brief history of the Foundab"on copy Board minutes. a copy of the annual report and accounts, a copy of the governing trust deed and are supplied wrth charity commissions guidance. The vJsenbal trustee.. What you know and 'Charities and public 8enefil' and encouraged to visrt the Charity commisg¢x)s website lor infom)abon and attend approprk8te extemal training events. Risk manag•m•nt The trustees have assessed the major risks to whith the chanty is exwsed. 11 has sought advice from external sources to pul in place a slwcture to slrenglhen ts ffinancial. management and oper*'onal activities and lo ensure up lo dale accounting and to avoid inappropriate and unsuitable spending. The trustees are satisfied that systems are in place lo mrtigale exposure lo the major risks. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1121928 Prln¢lpal addr¢ss John Carpenter House John Carpenter Street London EC4Y OAN Trust•o$ M Dan50n Mrs H M Danson Miss E R E Danson Unless otherwse Sed the above trustees seNed during the vthole of the year and lo the dale of approval of this report. Irbdependont Examinor Smalles Goldie Chartered Accountants Regent's Court Princess Street Hull East Yorkshire HU2 8BA Bankers Coutts & Co 440 Strand London WC2R OQS Page 2
The Danson Foundation Report of the Trustees forth& y¥ar end 31st DKombgr 2023 19 November 2025 and signed on ts behaff by." Approved by order of the board of trustees on .. . M Danson- Trustee Page 3
Independent Examinerfs Report to the TnteeS of Thè Danson Foundation Indondent oxamln•rf$ r•kw)rt to trust of Th• DaOn Foundallon I report to the charty trustees on my examination of the accounts of The Danson Foundation (the Trust) for the year ended 31st December 2023. Responsibilities and basis of report As the charity trustees of the Twsl you a ponble for the Pparati of the accounts in accordance wth the requirements of the Charities Act 2011 Ilhe Arfl. I report in respect of my examination of the Trusfs accounts carried out under Section 145 of the Act and in carrying out my examinatKsn I have folkwed all applicable Directions given by the Charity Commission under Section 14515llbl of the Ad. Indopondont oxamln•V$ $tstsmont- matters ol ¢on¢•m Idontlfiod I have compted my examination. I have idenlffied and port the fdlowng matter of C(cern. As reported in note 15 to the finanryal ststerrents, the Charity's trustees have advaneed £2,900.000 lo a Trustee in conlravenlion lo the ¢hanty'$ goveming document. I confirm that no other matters have come to my 8ttenb.on that give me cause to believe that in any material respect.. accounting records were not kept in respecl of the Trust as wuired by Section 130 of the Act,. or the a¢¢ounl$ do not a¢¢ord wth those ords.. or the accounts do not comply wth the applicab requiremen15 concerning the fomi and content of accounts sel out in the Charities IAc¢ounts and Repottsl Regulations 2008 other than any requirement that the accounts give a true and fair wew vknith 1$ not a matter nSIdered as part ol an independent examinatui. I confirm that ihere are no olher matters to ¥thich your attention should be drawn lo enable a proper understanding of the accounts lo be read*d. Stephen T Bramall Bsc., FCA Smalles Goldie Chartered Accountsnts Regent's Court Prince58 Street Hull East Yorkshire HU2 8BA Date.. 19 . November 2025 Page 4
The Danson Foundation ststement of Financial Activities fortho y¥ar end 31st December 2023 2023 Unrestricted fund 2022 Total funds INCOME AND ENDOINMENTS FROM Investment income 83,S37 55,764 EXPENDITURE ON Investment management costs 30,234 Charltabl¢ actlvltles Supporb'ng CharItse causes Intem$hip programme 1.281.243 109,474 1,000,650 106.697 Total 1.390.717 1,137,581 Net gainslllossesl on investments 1684.0621 NET INCOMEIIEXPENDITURE) {1.307.1801 11,765,879) RECONCILIATION OF FUNDS Total funds brought forward 4.463.318 6,229,197 TOTAL FUNOS CARRIED FORWARD 3,156.138 4,463,318 The notes form part of these finanaal statements Page 5
The Danson Foundation Balance Sheet 31$t Dec*mr 2023 2023 Unrestricted fund 2022 Total funds FIXEO ASSETS Social investments 6,971 CURRENT ASSETS Debtors Cash al bank 12 2.955.060 232,725 4,490,251 3,187,785 4,490,251 CREDITORS Amounts falling due within one year 13 131.6471 133.9041 NET CURRENT ASSETS 3,156.138 4,456.347 TOTAL ASSETS LESS CURRENT UABILITIES 3,156,138 4,463,318 NET ASSETS 3,156,138 4,463.318 FUNDS Unrestricted funds 14 3,156,138 4,483,318 TOTAL FUNDS 3,156,138 4,463,318 The financial slalements were approved by the Board of Trustees and aulhorised for issue ¢)n November 2025 and were gned on rts behall by.. 19 M Oanson- Trustee The notes form part of these finanaal statements Page 6
The Danson Foundation Notes to the Financial Statements fortho y¥ar end 31$t December 2023 ACCOUNTING POUCIES Basis of prèparing thè financial statomants The finanoal statements of the charty, lch is a pU1C tenefil entity under FRS 102, have been prepared in accordance the Chantses SORP {FRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Pracbce applicAtAe to Charities preparing their accounts in accordance wth the Financial Reporting Standard apF4icable in the UK and Republic of Ireland IFRS 1021 leffeLtive 1 January 20191,. Financial ReFKTrrts"ng Stsndard 102 The Financial Reporting Standard applicable in the UK and RepU1C of Ireland, and the Charits'es Aci 2011. The financial statements have been prepared under the hisloncal cost cOnventn, vthh the exception of investments whith are included al market value, as modtfied by the revaluab.on of certaLn assets. The signthcanl accounting Policies applied in the Preparation of ihese financial 5tatemen15 are set out below. These poli(ies have been consislenlly applie<l to all years psented Un$$ olherwse stsled. Flnanclal rgportlng standard 102- I¢•d dlselosur• •x0mptlts The charity has taken advantage of the followng disclosure eXeMptn in preparing these financial slalemenls. as pemirtted by FRS 102 The Financial Rep"ng Standard applicable in the UK and Republic of Ireland the requirements of Sects'on 7 Ststemenl of Cash Flovts. In¢om• l income is recognise(l in the Statement of Finanoal Activiti'es once the charty has entillemenl lo the fiJnds, 11 is Probable that the income will be received and the amount can be measured reliably. Expenditure Liabilicies are recognised as exFenditure as scon as there is a al or Constructive obligation committing the charity to that expendrture, it is prObae that a transfer of economic benefrts will be reqUId In settlefnent and the amount of the obligabon Can be meaSUd reliably. Expenditure Is accounted for on an accruals basis and has been classffie(1 under headin9S that aggregate all cost related to the categtxy. ere costs cannot be directty attn'buted to particular headings they have been allocated lo actsvilies on a ba$ consislenl the use of resources. Irrecoverable VAT is charged as an expense against the activity for vthich expendrture arose. Grants fjffed $ubje¢t to ¢ondrtJ'ons whith have not been met at Ihe year end date are noted as a commitment but not accrued as expendrture. Allocition and ipportionment of Coyts Costs that directty relate lo S¢th¢ Charitab a¢tMb"es are all(Kaled lo that actiwty. Support costs are those Ihal assist the vK)rf( of the charty bul do not directty represent charitable acliwties and indude office costs. govemance costs and staff $1$. They a incurred directly in support of expenditure on Ihe objects of the charity and indude project management and other central office costs. Where support cos15 cannot be directiv attributed lo particular heading5 they have been alloc2led to Charitable a¢ts'vrfs on a basis n51ent vAth use ol the resoUeS a$ delemined by the trustees.. Social investments Soual investments a mea5ure<l at the amount recewed or paid, wth the ¢arying amount adjusted for any repayments and any aUed interesL Taxation The charty is exempt from tax on its chariiable aCtives. Fund accounting Unrestricted fvnds can be useil in accordance vth the d)aritable objecbves al the direts"0n of the trustees. Page 7 continued...
The Danson Foundation Notes to the Financial Statements - continued fortho y¥ar end 31$t December 2023 ACCOUNTING POUCIES- ¢ontlnugd Fund accounting Restricted funds can onty be used for partULar restricted puwes vthin the objects of the charity. Reslricbon5 arise when speafied by the dor or when fiJnds are raised for particular restricted purposes. Further explanation of the nature and of each fijnd is induded in the notes lo the financial Statements. Investmènts Investments are recognised inal at fair value is normally the transath'on price exduding transath'on costs. Subsequenuy. they a MeasUd at fair value with Changes recognised in 'nel gains I Ilossesl on investments, in the SOFA rf the shares are puIdY traded or their fair value can olherwse be measured rdiabty. Other investrnents are measured al c05t less impalmnI. INVESTMENT INCOME 2023 2022 Dividends Deposit account inleresl Loan interest 54,796 28.477 5S,060 966 83,537 55,764 INVESTMENT MANAGEMENT COSTS Investmènt manag•m•nt ¢ts 2023 2022 PortfolKJ management 30.234 CHARITABLE ACTIVITIES COSTS Grnnt nding of activitigs l$ett note 61 Dlrect Costs ls¢• nots S) Support costs1$o0 note 71 Totsls Supporting charitst4e causes Internship programn 20,004 11,SOO 1.260,412 97.811 827 163 1,281,243 109,474 31,504 1.358.223 990 1,390,717 Page 8 continued...
The Danson Foundation Notes to the Financial Statements - continued fortho y¥ar end 31$t December 2023 DIRECT COSTS OF CHARITABLE ACTMTIES 2023 2022 Travel expenses Intern dinner Impaimient of programme related investments 13.033 11.500 6.971 33,219 31.504 33,219 GRANTS PAYABLE 2023 2022 suppO.ng charilat4e causes Internship programme 1,260,412 97.811 999,450 71,309 1,358,223 1,070,759 The totsl grants paKI lo in$trtLth'on$ during the yearvr4$ as folhm.. 2023 2022 Action Aid Akshaya Patra Animals Asia Atlas Foundation Bamel Youth Zone Brea51 Cancer Now Cancer Research UK Carla Ann88 Children In The Wlderness Namibia Cooperation Town David Sheklrick Wildlrfe Trust Earth Watch Europe Family Counselling Feel First World Foothdd IET Grace House Camb Grace House Communty Centre Grace Taybr Highgale School Imizi Third Party Fund JDRF Inlemalional Ke5hava Sevasamithi Le Cure Lions Club of Hyderabad Greenlands MAF Australia Magic Breakfast Med Aid Inl Med Aid Ukraine New York Blood Centre Oak Lodge SFA Papyrus PEAS Pennce House People wth Hearing Impaired NeN¥o Prag*hi Disabled Weware Soc 2,000 2,000 s,000 10,000 20,000 5,000 31,000 1,000 9,748 S,031 37,105 12,678 36.609 15,000 13,200 2,000 2,000 17A71 29,097 2,957 50,000 17,725 2,033 19.13 13 3.01)0 49,032 4,078 25,000 25.000 25,000 100,000 2,033 2,000 20,000 218,165 216,000 500 19,441 2,068 Page 9 continued...
The Danson Foundation Notes to the Financial Statements - continued fortho y¥ar end 31$t De¢ember 2023 GRANTS PAYABLE- ¢ontlnuod Prashanthi 8alamandira Trust Rainbow Children's Medicare Richard HouseTrust Royal Flying Doctor serVe Sai Seva Sangh Sands Save the Children Scottish Veterans Sealife Trust Seva Bharathi Sheldrick Wildlrfe Trust Sl Anne's College Sl Jude'5 Childrens Research Hosp St Oswalds Hospice The Bradfield Foundab'¢)n The Bulega Operab'ng Company The Old Vic The Smith Family Vivekanand Wemelh Primary ca Centre Young Enterprise $00,039 19,937 1,000 2,039 81,779 1,000 20,000 1,000 25,000 19A41 25,039 100,000 2,033 2,000 200,000 1S0,000 22.030 10,800 539 10,800 4,287 980 1.000 1,260,412 999,450 During the year grants totslling £97,811 *tre paKI 10 44 individuals under the foundation's intem programme12022- 44 indiwduals beneffted from grants totalling £71,309). SLIPPORT COSTS Govornanc ¢o$ts Management Totsls Supporb'ng charitst4e se3 Internship programrnÈ 667 160 163 827 163 667 323 990 SupF)Ort costs, included in the above. a as folbvts: 2023 2022 Supportlng charitable Intemship causes programme Total activities Total activitios Insurance Training Examiners remuneration Over-accrual of prior years examinern. fee 667 667 636 333 2,400 1,490 1,490 2.980 11,3301 11,3271 {2,657} 827 163 990 3.369 Page 10 continued...
The Danson Foundation Notes to the Financial Statements - continued fortho y¥ar end 31$t December 2023 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees. remuneration LY other benefts for the year ended 31st December 2023 nor for the year ended 31st De(tmber 2022. Trustsas. axpgns88 There were no trustees, expenses paid for tlle year ended 31st December 2023 nor for the year ended 31st December 2022. During the year, the we trustee exw)ses totalling £13.033 12022 nil) th gard$ lo travel lo establish and build relabonships wth r¥ grant reaF4'ents. STAFF COSTS The average numbw of emkloyees in the year vtas nil12022.' nill. 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivmES The total income and expendrture reported In the Statement of Financial Activities for the year ended 31 sl December 2023 related to the unresthded ftjnd. 11. SOCIAL INVESTMENTS Programm related Inv•$tmont MARKET VALUE Al 1st January 2023 Impaimients 6,971 16.9711 Al 31st December 2023 NET 800K VALUE Al 31st December 2023 Al 31st December 2022 6,971 In 2011 the charity made a l)an lo The Venture Partnership Foundab"on Limited (VPFI in support of the Revenue Parb'cipation agreement beMeen the registered charity. Riders for Health IRfHI and VPF. 12. DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 Other debtors 2,95S,060 Page11 continued...
The Danson Foundation Notes to the Financial Statements - continued fortho y¥ar end 31$t December 2023 13. CREDITORS.. AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 Other creditors 31.647 33,904 14. MOVEMENT IN FUNDS Not movèmont in funds At 31112123 At 111123 Unrostrl¢tsd lunds General fijnd 4A63.318 11.307.180) 3,156,138 TOTAL FUNDS 4,463,318 11.307.180) 3,1S6,138 Net movement in funds. ilded in the above are as folb)ws.' Incoming r•$our¢•$ Resources oxpgnd&d Movemont In funds Unr8striclgd fund¥ General fund 83.S37 11.390.717) 11,307,180) TOTAL FUNDS 83,S37 11.390.717> 11,307,180) Comparatlv•s movomont In funds Not movèmont in funds At 31112122 At 111122 Unre$tri¢t•d funds General fund 6,229,197 11,765,879) 4,463,318 TOTAL FUNDS 6,229,197 11,765,879) 4,463.318 Comparative net movement in funds, irK4uded in the above are as follows: Incoming Resources rgsources oxpendod Gain$ and Movement losses In funds Unrestricted fund$ General fund 55.764 {1.137.5811 {684.(b21 11,765,879> TOTAL FUNDS 55,764 {1,137,5811 {684,C621 11,765,879) Page 12 continued...
The Danson Foundation Notes to the Financial Statements - continued fortho y¥ar end 31$t December 2023 15. RELATED PARTY DISCLOSURES In the year good5 and services were paid for, on behaff of the charty, by E5tel Property Investments Limrted. lo the value of £nil 12022". £2.7031. Donations made on Ixhaw of the charty by Estel Property Investments mited to the value of £nil {2022'. £19.9371. The balance owed to Estel Propety Investsnents Limited at the year end wa$ £22,640, 12022.. £22,640). Estel Property Investments Limited is ultimalety controlkd by Mike Danson, a trustee ofthe charity. At the year end an amount of £3,271 {2022'. £3,271) %Yas owed to Ihe truslees. During the year, the charity advaneed lunds of £2,900,000 lo Mike Danson, a trustee of the charty, as part of its investment strategy. The amounts advanced ace unsecured. bear Inte$t al the Bank of England base rate 15.25°/ throughout the periodl and are repayable on demand. The trustees have been made aware that the amounts advanced are not pemitted by the charty's goveming document and have taken steps to remedy srtuation by 31 December 2024 by demanding and Obtaining full repayment of the advancE and related interest. There was no 1nlenb.on lo provide Mike Danson with any personal, prive benefiL Page 13