REGISTERED CHARrrY NUMBER: 1121928 R•port ofthe Tru$teos a￿1 Unaudlted Flnanclal Statsmonts for tho Year Endod 31st D8combor 2023 for The Danson Foundatlon Smalle5 Goldie Chartered Accountsnts Regent's Court Pnncess Street Hull East Yorkshire HU2 8BA The Danson Foundation Contgnts of tha Financial Statements for the year ended 31st December 2023 Pago Report of tho Tru$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 p￿sent their ￿E￿$rt the finanoal ststements of the Charity for the year ended 31st December 2023. The trustees have adopted the provisions of Accounts'ng and Reporting by Charities.. Ststemenl of Recommended Prathce applicable to chant￿5 preparing their accounts in accordance with the Finanryal Reporting Standard appI￿atrAe in the UK and Reputyic of Ireland IFRS 1021 leffertive 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims The charty's objectives are to apply the Income of the trust for the pu￿OSe5 that are exclusively charitable in accordance wrth the laws of England and wa￿$. The wli¢*s adopted in ftJrtr)erance of these ob￿C￿"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 fvnd￿g 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 gU￿ance i￿ued 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 InveStn￿lS 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 betr￿n 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￿.0￿al 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 truSt￿S 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 ent￿ed 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 S￿ed 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 Tn￿teeS of Thè Danson Foundation Indo￿ndent oxamln•rf$ r•kw)rt to trust*￿ of Th• Da￿On 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￿ ￿pon￿ble for the P￿parati￿ 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 folk*wed all applicable Directions given by the Charity Commission under Section 14515llbl of the Ad. Indopondont oxamln•V$ $tstsmont- matters ol ¢on¢•m Idontlfiod I have comp￿ted my examination. I have idenlffied and ￿port the fdlowng matter of C(￿cern. As reported in note 15 to the finanryal ststerrents, the Charity's trustees have advaneed £2,900.000 lo a Trustee in conlravenlion lo the ¢hanty'$ 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 CharIts￿e 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*m￿r 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$t December 2023 ACCOUNTING POUCIES Basis of prèparing thè financial statomants The finanoal statements of the charty, ￿lch is a pU￿1C tenefil entity under FRS 102, have been prepared in accordance the Chantses SORP {FRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Pracbce applicAtAe to Charities preparing their accounts in accordance wth the Financial Reporting Standard apF4icable in the UK and Republic of Ireland IFRS 1021 leffeLtive 1 January 20191,. Financial ReFKTrrts"ng Stsndard 102 The Financial Reporting Standard applicable in the UK and RepU￿1C of Ireland, and the Charits'es Aci 2011. The financial statements have been prepared under the hisloncal cost cOnvent￿n, vthh the exception of investments whith are included al market value, as modtfied by the revaluab.on of certaLn assets. The signthcanl accounting Policies applied in the Preparation of ihese financial 5tatemen15 are set out below. These poli(ies have been consislenlly applie 11,307,180) Comparatlv•s movomont In funds Not movèmont in funds At 31112122 At 111122 Unre$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, priv*e benefiL Page 13